U.S. Treasury Boosts Argentine Economy with $20 Billion Currency Swap
The U.S. Treasury established a $20 billion currency swap with Argentina to stabilize its economy, fulfilling President Trump's promise. The intervention led to a rise in Argentine bonds and peso value. The action is aimed at supporting President Milei's economic reforms before the upcoming midterm elections.
The United States Treasury has finalized a $20 billion currency swap agreement with Argentina, aimed at stabilizing the country's faltering economy.
This financial intervention immediately impacted the markets, elevating Argentine bonds and the peso. The move supports President Milei's reform agenda ahead of October's midterm legislative elections.
Senate Democrats have criticized the action as inappropriate financial support, occurring amid a U.S. government shutdown, while financial experts argue this step is crucial to avoiding a potential economic collapse in Argentina.
(With inputs from agencies.)
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