Argentina: Pres. Milei negotiates a new loan with U.S. Treasury Department

Argentina's president, Javier Milei, acknowledged during an interview on Friday that he is negotiating a new loan with the U.S. Treasury Department to mitigate the financial crisis affecting the country. The Central Bank of Argentina intervened in the official exchange market after disbursing 680 million dollars on Friday, and another 432 million dollars in the previous two days, to keep the dollar exchange rate within the range agreed upon with the International Monetary Fund. This agreement, worth 20 billion dollars, requires the organization to prevent the currency from exceeding the upper limit. The crisis is worsening with the country risk at 1,515 basis points, an increase of 4.3 percent since August 26, 2024, reflecting the difficulties in financing.

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