Source: United Press International
“The U.S. Treasury is preparing a $20 billion currency swap with Argentina, Treasury Secretary Scott Bessent said Wednesday. He announced the plan after Argentine President Javier Milei met a day earlier with President Donald Trump at the United Nations General Assembly. Bessent reiterated the United States is ‘ready to do whatever it takes to support Argentina and the Argentine people’ in a message on X in which he also praised Milei’s leadership. He added that the United States ‘is prepared’ to buy Argentina’s dollar-denominated debt. … The announcement amounts to a prearranged ‘loan’ that would give Argentina’s government dollars in exchange for pesos, with the commitment to repay the funds within a set period at an agreed interest rate. The main goal is to prevent the economic adjustment program led by Milei from failing.” (09/24/25)