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U.S. Treasury Signals Support for Argentina as Milei Heads to New York for Trump and IMF Meetings

Washington’s public backing lifted Argentine markets, with financing design and terms still undisclosed.

Overview

  • U.S. Treasury Secretary Scott Bessent said all stabilization options are on the table, citing possible swap lines, direct FX purchases and ESF purchases of dollar‑denominated Argentine debt.
  • More details are expected after Tuesday’s meeting in New York between President Javier Milei, President Donald Trump and Bessent, followed by a separate meeting with IMF chief Kristalina Georgieva.
  • Argentine assets rallied on the announcement as the wholesale dollar fell, stocks jumped and the country risk index dropped sharply, reversing recent stress.
  • The government moved to accelerate hard‑currency inflows by temporarily setting export duties on grains and byproducts to zero, later extending the relief to poultry and beef exports.
  • Foreign minister Gerardo Werthein denied that formal talks for a US$30 billion Treasury loan have begun, and analysts called the U.S. signal highly unusual but cautioned that scope, conditionalities and implementation remain unclear.