Overview

• Secretary Scott Bessent said he had a very positive call with Economy Minister Luis Caputo and expects Caputo’s team in Washington in the coming days to advance negotiations.
• Bessent reiterated that the Treasury stands ready to do what is necessary, with options including a currency swap of up to $20 billion and purchases of Argentine dollar bonds.
• He told G7 finance ministers he stressed the importance of the success of President Javier Milei’s economic policies for Argentina, the region and the G7.
• Argentine sovereign bonds rebounded by roughly 2% to 3% in premarket trading after the latest U.S. signal, following recent pressure on the peso and local assets.
• No disbursement or final terms have been announced, and U.S. experts and some lawmakers flagged legal and political constraints on using the Exchange Stabilization Fund.
• Argentina confirmed that President Milei will meet President Donald Trump at the White House on October 14 as the country heads toward October 26 legislative elections.