Overview
- Treasury executed direct peso purchases through Citi, Santander and J.P. Morgan, pulling the wholesale rate toward 1,420 pesos, and Argentine officials signaled the operation could be repeated before the elections.
- The rescue package includes a roughly US$20 billion currency swap whose final terms are slated for talks in Washington next week during President Javier Milei’s meeting with President Donald Trump and IMF gatherings.
- Senate Democrats led by Elizabeth Warren introduced the No Argentina Bailout Act to bar use of the Exchange Stabilization Fund for Argentina, as reporting cited conflict-of-interest concerns about potential gains for major investors.
- Milei hailed the U.S. move as a foundational step and launched his Plan Argentina Grande Otra Vez, outlining labor and tax reforms such as allowing wages to be set in dollars and simplifying the tax system.
- The government appealed a ruling that refused to reprint single paper ballots in Buenos Aires after José Luis Espert withdrew, putting the decision before the National Electoral Chamber under tight election logistics.