U.S. Pledgesโค Robust Financial โSupport to Bolster Argentina‘s Economy
WASHINGTON – The U.S. Treasury Department has affirmed its commitment to โsupporting Argentina’s economic stability, โขpledging to intervene in argentine bond marketsโข “as conditions warrant” and making availableโฃ important stand-by creditโข through the Exchange Stabilization Fund. Treasuryโฃ Secretary Bessent revealed thes measures amidโ ongoing negotiations with โArgentine officials forโ a โค$20 billion swap line with Argentina’s Central bank.
The U.S.support aims toโฃ prevent “excessive volatility” in Argentina’s financial markets andโ underscores the administration’s confidence in the โคcountry’s economic plans, according toโข Bessent. This assistance comes as Argentina navigates economic challenges and seeks to reassure investors ahead of upcoming elections. The โขTreasury is also collaborating โwith Argentina to end a tax holiday for โขcommodity producers converting foreign exchange and โreportsโค that numerous U.S. companies are prepared to make “substantial foreignโ direct investment” in the nation.
Bessent stated theโ U.S.Treasuryโ “remains fully prepared to do what is necessary” to support Argentina,with a commitment to address principal repayments after the election. President Trump,โ Bessent added, โ”has confidence in its economic plans.”