00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The U.S. Treasury said Wednesday it is negotiating a $20 billion swap line with Argentina's
00:07central bank to stabilize the peso and support President Javier Malelli's reform agenda,
00:12according to Reuters.
00:13In a post on X, Treasury Secretary Scott Besson said Washington is prepared to buy
00:17Argentina's U.S. dollar bonds, provide standby credit through the exchange stabilization fund,
00:22and purchase government debt if needed.
00:24He added that U.S. companies have pledged to invest in Argentina if elections on October
00:2826 deliver a favorable outcome.
00:30Argentina's peso revalued this week, and the central bank spent over $1 billion in reserves
00:35last week to defend the currency.
00:37Besson told Fox Business the U.S. supports Malelli's reforms, arguing markets remain cautious
00:41due to Argentina's history of mismanagement, but he expressed confidence in Malelli.
00:45For all things money, visit Benzinga.com.
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