The Government of Javier Milei returned the funds that it had used under the framework of the currency swap agreement signed with the Treasury of the United States for a total of USD 20,000 million.
The cancellation was announced both by the United States Treasury Secretary, Scott Bessent, through his official account on the social network X, and by the Central Bank of the Argentine Republic (BCRA) through an official statement. According to the monetary authority, the payment was made with resources from multilateral organizations.
The agreement had been announced on October 20, 2025, and it allowed Argentina to access the available funds. Specifically, the country used USD 2,500 million of the total authorized. According to the official information released by the Government of the United States, that was the only portion effectively disbursed within the exchange rate stabilization scheme.
From Washington, Bessent welcomed the early cancellation of the use of the swap and highlighted the financial situation of the South American country. “I am pleased to announce that, as a reflection of its strengthened financial position, Argentina has quickly and fully repaid its limited drawing on the swap with the United States, so that the Exchange Stabilization Fund (ESF) currently holds no pesos,” the official stated.
In parallel, the Central Bank specified the timing and scope of the operation. “In December 2025 it canceled the operations carried out during the fourth quarter of 2025 with the United States Department of the Treasury, under the exchange rate stabilization agreement for USD 20,000 million announced on October 20, 2025,” the BCRA's official statement indicated.
