This week’s Central Bank data reveals that the United States Treasury has divested the pesos acquired prior to the mid-term elections, realizing a substantial profit, according to Argentine economists. If accurate, this would bolster the U.S. government’s position that it is not providing gratuitous financial assistance to Argentina. Nonetheless, it has raised concerns in both … 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
All peso-dollar exchange rates experienced a rebound on Tuesday following a significant decline on Monday, as markets responded favorably to the decisive victory of Javier Milei’s party in the midterm elections. The wholesale exchange rate concluded at AR$1,470, reflecting a 2.4% rise compared to the prior day. This positions it 25 pesos beneath the upper … Read more
As President Donald Trump stated, the United States generated “a lot of money” through its bailout of Argentina. Despite the rally in that country’s markets following President Javier Milei’s unexpectedly significant win in the recent legislative elections, the situation appeared rather subdued. By the end of trading on Monday, it was estimated that the US … 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
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
For Scott Bessent’s US$20-billion wager on Argentina to yield positive results, numerous factors must align favorably – factors that historically, in Argentina, have often not aligned as intended. The US Treasury secretary unveiled a support measure on Thursday aimed at stabilizing the nation’s financial markets amid escalating turmoil, while also assisting a key political ally … Read more
The United States swiftly moved to stabilize Argentina’s economy on Thursday, providing US$20 billion in financing and executing an uncommon intervention in currency markets to support the peso following weeks of significant declines. Washington has finalized a US$20-billion currency swap framework with Argentina’s Central Bank, as stated by Treasury Secretary Scott Bessent in a social … Read more
U.S. Treasury Secretary Scott Bessent has declared that the United States acquired pesos in the Argentine market today as part of ongoing negotiations in Washington aimed at supporting President Javier Milei’s administration. Finance specialists remarked that this type of direct intervention in the local forex market by the U.S. was “unheard of.” Bessent stated “Today … Read more