U.S.-Argentina Financial Collaboration Boosts Peso and Bonds

The U.S. government has finalized a $20 billion currency swap agreement with Argentina's central bank, Treasury Secretary Scott Bessent announced. The move significantly bolstered the Argentine peso and dollar bonds.

Bessent emphasized the U.S. Treasury's readiness to stabilize markets immediately, asserting Argentina's policies are sound when based on fiscal discipline. The collaboration involved meetings with Argentine Finance Minister Luis Caputo and IMF officials.

Despite the IMF's silence on the U.S. actions, the international community unites behind Argentina's fiscal strategy. However, specifics on the pesos purchase and swap framework remain undisclosed.

(With inputs from agencies.)