Stabilizing Argentina: U.S. Treasury Secretary Unveils Potential Financial Measures

U.S. Treasury Secretary Scott Bessent announced that all options are being considered to stabilize Argentina, including swap lines and direct currency purchases. He emphasized President Donald Trump's confidence in Argentine President Javier Milei and his economic team.

No immediate actions will be taken until a scheduled meeting with Milei in New York, coinciding with the United Nations General Assembly. Bessent highlighted the administration's firm resolve to address the situation, indicating that the response would be substantial.

The markets responded positively to the news, with Argentine financial assets seeing gains. The situation comes amid investor concerns and market fluctuations, driven by internal political challenges and upcoming elections. The U.S. aims to support Argentina's path towards economic reforms, leveraging its role in the IMF agreement.

(With inputs from agencies.)