The United States Department of the Treasury confirmed today a set of exceptional measures to support Argentina's economic stability, following four days of intense meetings between Treasury Secretary Scott Bessent and the Government of Javier Milei, represented by Argentina's Minister of Economy, Luis "Toto" Caputo.
In a statement published on X, Bessent emphasized that both countries agreed to recognize Argentina's solid economic essentials, as well as the structural reforms already underway that will generate significant dollar exports and foreign currency reserves. However, he admitted that the country is facing "a moment of severe illiquidity" and stressed the need for swift measures.
Concrete measures
As part of the support, the United States announced that it directly purchased Argentine pesos and closed a currency swap agreement for 20 billion dollars with the Central Bank of Argentina. This mechanism will allow Milei's Government to immediately access dollar liquidity, with the goal of stabilizing the markets and supporting the economic program.
"Only the United States can act quickly. We'll act," Bessent stated, noting that the Treasury is prepared to take "exceptional measures."
Political and strategic commitment
Bessent also highlighted that the support for Argentina fits within the economic leadership of President Donald Trump’s "America First" policy, aimed at strengthening allies that promote fair trade and American investment. He noted that there is a growing interest from American companies in strengthening ties with Argentina, driven by President Javier Milei’s administration.
