Overview

• U.S. Treasury Secretary Scott Bessent said Washington is willing to do what is necessary to support Argentina, listing swaps, direct dollar purchases and buying dollar‑denominated sovereign debt as options.
• The government suspended export duties on grains—later extended to poultry and beef—until October 31 or until exporters liquidate US$7 billion to accelerate near‑term dollar inflows.
• Markets rallied on Monday: the peso eased away from the band ceiling, sovereign bonds rose roughly 14%–18%, equities jumped up to 22%, and country risk fell to around 1,100 points.
• The move followed heavy central‑bank sales of about US$1.11 billion over three sessions to defend the exchange‑rate band, with officials signaling the aim is to rebuild confidence and dollar supply.
• Critics warned the measures are temporary and fiscally costly—private estimates run near US$1–2 billion—and noted that concrete terms of U.S. assistance remain to be defined as Milei heads to New York to meet President Trump, Bessent and IMF chief Kristalina Georgieva.