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1h ago

U.S. Backs Argentina With Swap Line Offer as Caputo Heads to Washington

Talks will test whether Argentina can provide the governance guarantees creditors require.

Luis Caputo viajará mañana a Washington para reunirse con el Tesoro.
Milei con Scott Bessent
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Julie Kozack y Kristalina Georgieva, directora de comunicaciones y directora gerente del Fondo Monetario Internacional.

Overview

  • U.S. Treasury Secretary Scott Bessent reaffirmed political support for Javier Milei’s program and said he will meet Argentina’s economic team in Washington in the coming days.
  • Bessent clarified on CNBC that the United States is not providing direct cash and is working on a currency swap line, reported at about $20 billion, to bolster the central bank’s liquidity.
  • Economy Minister Luis Caputo will travel with senior officials, including central bank chief Santiago Bausili, José Luis Daza and Pablo Quirno, for negotiations intended to translate pledges into operational support.
  • Markets swung after Bessent’s messages, with an initial rally fading once he stressed the assistance would be a swap rather than fresh funds, leaving bonds, the peso and risk metrics volatile.
  • The IMF urged broad political backing, a firm fiscal anchor and reserve rebuilding as talks advance, and Milei is set to meet President Donald Trump at the White House on October 14.