U.S. Pledges Robust Financial Support to Bolster Argentina‘s Economy
WASHINGTON – The U.S. Treasury Department has affirmed its commitment to supporting Argentina’s economic stability, pledging to intervene in argentine bond markets “as conditions warrant” and making available important stand-by credit through the Exchange Stabilization Fund. Treasury Secretary Bessent revealed thes measures amid ongoing negotiations with Argentine officials for a $20 billion swap line with Argentina’s Central bank.
The U.S.support aims to prevent “excessive volatility” in Argentina’s financial markets and underscores the administration’s confidence in the country’s economic plans, according to Bessent. This assistance comes as Argentina navigates economic challenges and seeks to reassure investors ahead of upcoming elections. The Treasury is also collaborating with Argentina to end a tax holiday for commodity producers converting foreign exchange and reports that numerous U.S. companies are prepared to make “substantial foreign direct investment” in the nation.
Bessent stated the U.S.Treasury “remains fully prepared to do what is necessary” to support Argentina,with a commitment to address principal repayments after the election. President Trump, Bessent added, ”has confidence in its economic plans.”
