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7h ago

U.S. Treasury Confirms $872 Million SDR Transfer to Argentina as Bank Financing Plan Falters

The disclosure explains how Argentina met a November IMF payment as attention turns to uncertain private funding prospects after reports of a shelved $20 billion package.

El Tesoro de Estados transfirió dinero para ayudar a Argentina con un vencimiento del FMI.
Foto: Xinhua
El Tesoro de Estados Unidos, a cargo de Scott Bessent, confirmó el envío de USD 872 millones en Derechos Especiales de Giro que Argentina utilizó para afrontar el pago anual al FMI. 
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Overview

  • Official ESF and IMF records show a mid‑October “sale” of SDRs to Argentina, lifting its holdings from 29.6 million to 670.4 million as U.S. holdings fell by a near‑identical amount, totaling $872 million.
  • The resources were applied to the November 7 IMF payment of $796 million at a time when the Argentine Treasury reportedly had just $148 million on deposit at the central bank.
  • Reporting reconstructs broader U.S. actions in October that included about $2 billion in peso purchases and a subsequent swap activation that converted BCRA liabilities into dollar‑denominated debt of roughly $2.5 billion.
  • Consultancies estimate the U.S. earned about $53–70 million from the peso operations, and the moves coincided with an estimated $3.5 billion drop in Argentina’s net reserves.
  • The Wall Street Journal reported that a previously floated $20 billion private‑bank package was set aside in favor of exploring a shorter $5 billion repo aimed at January obligations, while Economy Minister Luis Caputo publicly denied negotiating a $20 billion rescue.