The US and Argentina signed a $20 billion swap agreement.

Important Swap Agreement Between the US and Argentina

Bessent stated on his account on the X social media platform that they held intensive meetings for four days with Argentine Economy Minister Caputo and his team.

Argentina's Economic Fundamentals

Bessent noted that Argentina is facing a serious liquidity crisis, and they discussed the country's strong economic fundamentals and the structural changes that would create significant foreign exchange reserves in the current situation during the meetings. These changes are expected to contribute to Argentina's dollar denominated exports.

Completion of the $20 Billion Swap Agreement

Bessent emphasized that they purchased Argentine pesos directly today and that the $20 billion swap arrangement with the Central Bank of Argentina has been completed.

Investment Incentives and Market Stability

Bessent mentioned that they also discussed the necessary tools to strongly support Argentina's investment incentives and the investments of the US in strategic partners, stating that the US Treasury Department is ready to take all necessary extraordinary measures immediately to ensure market stability.