ISTANBUL

The US finalized a $20 billion currency swap framework with Argentina’s central bank following a four-day meeting in Washington, DC between US Treasury Secretary Scott Bessent and Argentina’s Economy Minister Luis Caputo.

Bessent said on the US social media company X’s platform that he held discussions with Caputo on “Argentina’s strong economic fundamentals, including structural changes already underway that will generate significant dollar-denominated exports and foreign exchange reserves.”

He said Argentina faces a moment of acute illiquidity and the US has “directly purchased Argentine pesos,” adding the economic leadership under the “America First” policy “is committed to strengthening our allies who welcome fair trade and American investment.”

“Additionally, we have finalized a $20 billion currency swap framework with Argentina’s central bank,” Bessent added. “The US Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets.”

“The Trump administration is resolute in our support for allies of the United States, and to that end, we also discussed Argentina’s investment incentives and US tools to powerfully support investment in our strategic partners,” he added.