President Javier Milei arrived in New York to hold a decisive meeting with Donald Trump at the United Nations headquarters. The main objective: to close a historic financial agreement with the U.S. Treasury Department, which will allow Argentina to cover its debt maturities for the next 15 months and give breathing room to Argentina's reserves.
The U.S. support, described by Treasury Secretary Scott Bessent as "large and forceful", strengthens the personal and ideological relationship between Milei and Trump, and marks a turning point in Argentina's foreign policy, aligned with the West in the face of China's advance in the region.
Concrete support for financial stability
The agreed scheme is structured through the Currency Stabilization Fund, a mechanism that had already been used in the 1990s to prevent crises in Mexico. This instrument could allocate billions of dollars to the Central Bank through a swap format, guaranteeing immediate liquidity and without the need for parliamentary approval, where the Kirchnerist opposition and "well-mannered Kirchnerists" predominate.
With this support, the government will be able to meet key commitments: 28 billion dollars in maturities with multilateral organizations, bonds, notes, and BOPREAL through 2026. The agreement also allows Argentina to distance itself from Chinese financing, which had been conditioning the Central Bank's accounts through the swap with Beijing.
