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1h ago

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

Treasury Secretary Scott Bessent says support will come via a currency swap, with negotiations targeting concrete terms before the Oct. 14 White House meeting.

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

Overview

  • Scott Bessent reaffirmed U.S. support for Javier Milei’s program and said Treasury is prepared to help, announcing in-person talks with Luis Caputo’s team in Washington in the coming days.
  • He later told CNBC the assistance would be a swap line rather than direct cash, with a roughly $20 billion facility under discussion and not yet finalized.
  • Economy Minister Luis Caputo will travel Friday with central bank chief Santiago Bausili and senior aides José Luis Daza and Pablo Quirno to advance terms and timelines.
  • Argentine assets swung on the headlines, rallying on Bessent’s initial message, then losing steam after his clarification, before firming on confirmation of the D.C. mission.
  • U.S. counterparts are pressing for governance guarantees as part of any package, with a Milei–Trump White House meeting set for Oct. 14 and Argentina’s legislative elections on Oct. 26.