U.S. Supports Argentina with Credit Swap, Not Direct Investment
The U.S. Treasury announced a credit swap line with Argentina, not a direct financial investment. This decision follows discussions with Argentine Economy Minister Luis Caputo. U.S. support comes as Argentina offloads soy to China, and ahead of an important meeting between Presidents Trump and Milei.
The United States Treasury is extending a credit swap line to Argentina, clarifying it is not a direct cash infusion. Treasury Secretary Scott Bessent announced the move to support Argentina in a recent discussion with CNBC.
This initiative precedes an anticipated meeting between U.S. President Donald Trump and Argentine President Javier Milei, which has stirred some controversy among Republicans due to Argentina's significant soy sales to China.
Bessent expressed optimism about working with Argentine Economy Minister Luis Caputo's team, highlighting the economic opportunities this swap line presents, especially as Argentina approaches key legislative elections.
(With inputs from agencies.)
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