U.S. Treasury Plans $20B Swap Line With Argentina

Benzinga

The U.S. Treasury is negotiating a $20B swap line with Argentina’s central bank to stabilize the peso and back Milei’s reforms. Secretary Scott Bessent said Washington could buy bonds and provide credit as investors watch October’s election.

Transcript

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.

Category

Transcript

Be the first to comment

Recommended