Overview

• U.S. Treasury Secretary Scott Bessent said Washington is negotiating a US$20 billion swap line with Argentina’s central bank to curb currency volatility.
• The Treasury signaled readiness to buy Argentine dollar bonds and to extend substantial standby credit via the Exchange Stabilization Fund as conditions warrant.
• The World Bank will fast-track up to US$4 billion and the Inter-American Development Bank plans about US$3.9 billion over 15 months, a roughly US$7.9 billion acceleration of previously agreed resources.
• Argentine assets rallied on the announcements, with the peso strengthening, sovereign bonds and equities rising, and the country risk gauge falling to about 917 basis points.
• Officials also discussed ending a tax exemption for commodity exporters, while President Trump publicly endorsed Javier Milei, after meetings in New York ahead of the October 26 elections.