The U.S. Treasury Department has confirmed the finalization of terms for a $20 billion economic support package for Argentina. Treasury Secretary Scott Bessent announced that the assistance, involving a direct purchase of pesos, would be structured as a currency swap with Argentina’s central bank. While the specific conditions were not made public, Bessent stated the objective is to provide stability to markets, addressing Argentina’s “acute illiquidity.”
Officials from both nations expedited the agreement ahead of upcoming legislative elections in Argentina and a planned visit to Washington by President Javier Milei, described as an ally of President Trump. The decision has drawn criticism, with some arguing the aid primarily benefits wealthy fund managers, particularly as American farmers experience difficulties and the U.S. government faces a shutdown. Global investors had reportedly been awaiting details of the financial arrangement.
Source: https://www.nytimes.com/2025/10/09/us/politics/argentina-bailout-investors.html