Overview
- Press secretary Karoline Leavitt shared an op‑ed asserting the currency swap is a profitable deal rather than a bailout for Argentina.
- Treasury Secretary Scott Bessent said only a small share of the line has been activated and that the U.S. booked a gain after intervening with direct peso purchases before Argentina’s elections.
- Bessent likened the support to co‑signing a first loan and said the Exchange Stabilization Fund, used for the operation, has never lost money.
- Central bank data show residents bought about US$17.6 billion in dollars over six months after controls were eased, highlighting persistent private demand that strains reserve‑building.
- The Wall Street Journal credited Luis Caputo and a team of former Wall Street officials with securing U.S. backing, while Morgan Stanley says meaningful reserve accumulation likely follows a debt‑management move and notes roughly US$15 billion may be needed to meet IMF targets by end‑2026.