US Treasury Secretary Scott Bessent said Thursday that the department is “fully prepared to do what is necessary” to support Argentina, a week after confirming negotiations over a potential aid program.
Bessent described a “very positive call” on Wednesday with Argentina’s Economy Minister Luis Caputo and said further talks are planned in Washington. “In the coming days I look forward to Minister Caputo’s team coming to D.C. to meaningfully advance our discussions in-person regarding options for delivering financial support,” he wrote on X.
Last week, Bessent revealed that Treasury officials were negotiating a “$20 billion swap line” with Argentina, boosting confidence in the South American nation and supporting President Javier Milei’s market agenda. Milei, an ally of President Trump, has been working to calm market jitters ahead of midterm elections that could shape his austerity policies.
Speaking to CNBC Thursday, Bessent emphasized that US support aligns with “a US strategic interest in the Western Hemisphere.” He noted that Argentina’s stability could influence neighboring countries such as Bolivia, Ecuador, and Colombia. “So, what you don’t want are these failed economic models,” he said.
Bessent also confirmed that the Treasury is prepared to provide “stand-by credit” from its exchange stabilization fund and could purchase Argentine USD bonds, among other measures.
President Milei said in an interview with local radio Mitre that proposed US support could include secondary-market bond purchases and profit-sharing arrangements. He added that negotiations with Washington remain ongoing, with the potential aid package structured in three parts.
