Bessent says the US is preparing new financial aid of US$20 billion for Argentina.
The US Treasury Secretary said he is working with private investment funds to create a line of credit to invest in Argentine sovereign debt.
Reuters - The United States resumed buying Argentine pesos on the open market on Wednesday, Treasury Secretary Scott Bessent said, adding that the department is working with private sector investment funds to create a $20 billion credit line to invest in Argentina's sovereign debt.
Bessent said during a press conference that the instrument will be used in conjunction with a new $20 billion swap line from the U.S. to Argentina, providing a total of $20 billion in support for Latin America's third-largest economy.
Bessent also clarified that the US will continue to financially support Argentina as long as President Javier Milei's government adopts "good policies," regardless of the outcome of the parliamentary election in the country this month.
