The US directly purchased Argentine pesos on Thursday and finalized a $20 billion currency swap framework with Argentina’s central bank, Treasury Secretary Scott Bessent said.
The US directly purchased Argentine pesos on Thursday and finalized a $20 billion currency swap framework with Argentina’s central bank, Treasury Secretary Scott Bessent said in a social media post. The intent is to provide assistance during the Latin American country’s economic turmoil. The Treasury « is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets », Bessent said in a post on X, adding that the Treasury Department conducted four days of meetings with Argentinian Finance Minister Luis Caputo in Washington, DC, to come up with the deal.
