Overview

• The deal followed four days of talks in Washington between Treasury Secretary Scott Bessent and Economy Minister Luis Caputo.
• Argentina’s dollar bonds climbed about 10% and the Buenos Aires stock index surged roughly 15% after the announcement.
• Bessent described the steps as exceptional measures to provide stability and rejected characterizations of a bailout.
• Democratic senators proposed the No Argentina Bailout Act to bar Exchange Stabilization Fund support, with Senator Elizabeth Warren criticizing the move.
• Critics cited the absence of stated economic conditions and questions about IMF coordination as Argentina owes about $41.8 billion to the Fund.