Overview

• U.S. Treasury Secretary Scott Bessent called Argentina a systemically important ally and said Washington stands ready to act within its mandate to support stabilization.
• Bessent outlined possible tools under review, including swap lines, direct currency purchases or buying Argentina’s dollar debt through the Exchange Stabilization Fund.
• President Donald Trump, President Javier Milei and Bessent are set to meet in New York today, with any announcement expected after the meeting and key terms still undisclosed.
• Argentine assets rallied on the signal as dollar bonds jumped, the S&P Merval advanced, the peso strengthened, and country risk fell sharply.
• IMF chief Kristalina Georgieva publicly welcomed the U.S. stance, while Senator Elizabeth Warren pressed Treasury for details and warned about political risks to U.S. interests.