The United States directly purchased Argentina pesos on Thursday and finalized a $20 billion currency swap line with Argentina\u2019s central bank, Treasury Secretary Scott Bessent said in a social media post, a rare move aimed at stabilizing turbulent financial markets in the cash-strapped Latin American ally.
\u201cU.S. Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets,\u201d Bessent said, adding that the Treasury Department held four days of meetings with Argentine Economy Minister Luis Caputo in Washington D.C. to cement the deal.
Argentina\u2019s libertarian President Javier Milei, a fervent admirer of U.S. President Donald Trump, thanked Bessent for his \u201cstrong support\u201d and Trump for his \u201cpowerful leadership.\u201d
\u201cTogether, as the closest of allies, we will make a hemisphere of economic freedom and prosperity,\u201d Milei said in a social media post.
Bessent, under fire from U.S. farmers and Democratic lawmakers, has insisted that the credit swap is not a bailout. Farmers are angry about the idea of rescuing Argentina, whose own farmers have benefited from a recent gush of sales of soybeans to China at the expense of their U.S. counterparts. Lawmakers have pushed Trump to explain how this financial help aligns with his \u201cAmerica First\u201d agenda.<\/p>\n","protected":false},"excerpt":{"rendered":"
The United States directly purchased Argentina pesos on Thursday and finalized a $20 billion currency swap line with Argentina\u2019s central bank, Treasury Secretary Scott Bessent said in a social media post, a rare move aimed at stabilizing turbulent financial markets in the cash-strapped Latin American ally.\u201cU.S. Treasury is prepared, immediately, to take whatever exceptional measures […]<\/p>\n","protected":false},"author":8,"featured_media":46844,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61],"tags":[12487,4173,7358,7331,8338,3977,913,5196,12565,6159,4028,9974,12159,3805,5349,8840,10656,9262,2354],"class_list":["post-46843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-agenda","tag-argentina","tag-bank","tag-cash","tag-cement","tag-central-bank","tag-democratic","tag-economy","tag-farmers","tag-fire","tag-freedom","tag-leadership","tag-pesos","tag-president","tag-social-media","tag-strong","tag-swap","tag-united-states","tag-washington"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/46843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=46843"}],"version-history":[{"count":2,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/46843\/revisions"}],"predecessor-version":[{"id":46846,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/46843\/revisions\/46846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/46844"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=46843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=46843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=46843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}