The United States Treasury Secretary, Scott Bessent, announced today that the US bought Argentine pesos directly in the local market, marking the first action of this kind in the history of both countries.
The announcement came at the close of a series of four-day meetings between the US Treasury Secretary and the Argentine Minister of Economy, Luis "Toto" Caputo, in Washington D.C.
The official Treasury statement indicates that the purchase of pesos responds to the liquidity crisis Argentina is experiencing and to the need to "act quickly" to ensure the country's economic stability. This measure marks a milestone in the bilateral relationship and reflects Donald Trump's administration's commitment to Argentina's fiscal strategy.
"Argentina is facing a moment of severe illiquidity. The international community, including the IMF, unanimously supports Argentina and its prudent fiscal strategy, but only the United States can act quickly. We will act," Bessent stated.
