US Treasury Secretary Scott Bessent confirmed on Tuesday that Argentina had initiated the currency swap. The announcement concluded a period of speculation, with economists suggesting that the event had already transpired, despite the absence of confirmation from local authorities. Argentine President Javier Milei’s administration has not issued any public statements concerning the activation — as … Read more
Argentina’s Ambassador to the United States, Alec Oxenford, stated on Monday that a trade agreement between the two nations “is practically finalized” and that the announcement is imminent. The diplomat indicated that the negotiations involving Presidents Javier Milei and Donald Trump are supported by the US Treasury. “There will be news very soon,” he stated. … Read more
US Secretary of the Treasury Scott Bessent is preparing for a second visit to Argentina, as stated by President Javier Milei. Bessent, commending Milei’s “monumental midterm election victory” from the previous weekend. Furthermore, he urged for a robust and “enthusiastic” reaction from the markets to support Washington’s ally in the south. Milei, a firm advocate … Read more
The United States realized a gain from the acquisition of Argentine pesos. Banks having engaged in discussions with the US Treasury throughout October regarding a strategy to secure billions for Javier Milei, have not made progress this week. Scott Bessent conveyed a clear message to Argentine investors: Now it’s your turn. With Bessent’s mission accomplished … Read more
The United States allocated a sum significantly surpassing US$1 billion this month for the acquisition of Argentine pesos, as per market estimates, coinciding with the intensification of Treasury Secretary Scott Bessent’s backstop initiative in anticipation of the midterm vote on October 26. The count is still pending verification, yet an anonymous trader estimated the amount … Read more
US Treasury Secretary Scott Bessent’s intervention in Argentina appears to prioritize the interests of his associates over the welfare of the nation, according to allegations made by economist. Numerous hedge funds that have previously collaborated with the Treasury Secretary maintain significant stakes in Argentine bonds, and Washington’s US$20-billion swap package aims to protect their returns. … Read more
The Argentine peso ended a five-day decline as major financial institutions engaged in the local currency market, coinciding with efforts by the United States government to support its ally Javier Milei in anticipation of an important vote this weekend. Both JPMorgan Chase & Co and Citigroup Inc were engaged in Argentina’s spot market on Wednesday, … Read more
Following multiple rounds of announcements, the currency swap between Argentina and the United States has been officially confirmed by the authorities of both nations. The US$20 billion support line is now accessible to President Javier Milei and Argentina. The decision by U.S. President Donald Trump to allocate a substantial support package to Argentina has been … Read more
The U.S. government acquired pesos in the Argentine foreign exchange market, as announced by Treasury Secretary Scott Bessent on Friday; however, this intervention did not suffice to prevent the peso from depreciating against the dollar. On the same day, the International Monetary Fund emphasized that Argentina ought to enhance its reserve accumulation efforts. “Yesterday, Treasury … Read more
Citigroup Inc sold Argentine pesos to the Federal Reserve on Thursday as part of US Treasury Secretary Scott Bessent’s extensive initiative to support the currency and the administration of Javier Milei, according to sources. The Federal Reserve functioned as a fiscal intermediary for the Treasury, according to the sources. Bessent’s Treasury is acquiring the troubled … Read more