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19h ago

U.S. Treasury Narrows Argentina Support to $20 Billion Swap Line as Talks Shift to Washington

Markets whipsaw on mixed signals over the scope of U.S. backing for Javier Milei’s program.

U.S. Treasury Secretary Scott Bessent appears in the in the Oval Office of the White House on September 25, 2025 in Washington, DC.
U.S. Treasury Secretary Scott Bessent attends the 80th United Nations General Assembly, at the U.N. headquarters in New York City, U.S., September 23, 2025. REUTERS/Jeenah Moon/File Photo
U.S. President Donald Trump and Argentina's President Javier Milei react as they meet during the 80th United Nations General Assembly, in New York City, New York, U.S., September 23, 2025. REUTERS/Al Drago/File Photo
Argentine President Javier Milei arrives to an America First Policy Institute gala at Mar-a-Lago, in Palm Beach, Fla., Nov. 14, 2024 (AP photo by Alex Brandon).

Overview

  • Scott Bessent said the United States will provide a swap line to Argentina and emphasized that it is not putting money directly into the country.
  • Luis Caputo’s economic team is set to meet U.S. officials in Washington to meaningfully advance options for financial support.
  • Argentina’s dollar bonds and the peso swung after Bessent’s comments, with an early rally fading before prices recovered slightly by the close.
  • The IMF reiterated that Argentina must anchor fiscal policy, maintain a consistent monetary and FX framework, and build broad political support to sustain reforms.
  • Fresh reporting that hedge fund billionaire Rob Citrone urged Treasury intervention and bought Argentine bonds before the announcement has drawn political scrutiny alongside Republican pushback and a U.S. government shutdown.