U.S. Engages in Currency Swap with Argentina Amid Economic Challenges

October 9, 2025 - 17:41

In a significant move to support Argentina's struggling economy, the U.S. has directly purchased Argentine pesos and established a $20 billion currency swap framework with the country's central bank. Treasury Secretary Scott Bessent announced the development through a social media post, emphasizing the urgency of the situation.

The currency swap aims to stabilize Argentina's financial markets, which have been under pressure due to ongoing economic turmoil. Bessent highlighted the U.S. Treasury's readiness to implement exceptional measures to ensure market stability.

The agreement followed four days of intensive discussions between Bessent and Argentine Finance Minister Luis Caputo in Washington D.C., reflecting a collaborative effort to address the economic challenges facing Argentina. This partnership underscores the importance of international cooperation in tackling financial crises and aims to bolster confidence in Argentina's economic outlook.