Overview
- White House press secretary Karoline Leavitt amplified an article arguing the peso swap is profitable for the U.S., echoing Treasury Secretary Scott Bessent’s claim that the interventions generated a gain.
- U.S. actions included a roughly $20 billion swap line and direct peso purchases, and media citing Treasury say part of the swap was activated to reimburse those interventions.
- BCRA data show residents bought $17.636 billion in dollars over six months, nearly the size of the U.S. swap, underscoring persistent pressure on Argentina’s scarce net reserves.
- With reserves constrained, officials are discussing bridge and refinancing options for about $32 billion of upcoming external maturities, including $4.5 billion due on January 9, alongside potential liability‑management operations.
- Morgan Stanley reports reserve accumulation is likely after a debt operation and recommends a more competitive exchange rate, while WSJ highlights the central role of former J.P. Morgan officials in securing U.S. backing.