Treasury secretary said, “Argentina faces a moment of acute liquidity.”
Treasury Secretary Scott Bessent recently announced that the United States has supported the Argentine Peso with a $20 billion purchase. Secretary Bessent has reportedly also considered another $20 billion in financing for the U.S. ally in addition to the currency swap.
“We are working on a $20 billion facility that would complement our swap line, with private banks and sovereign funds that, I believe, would be more focused on the debt market,” Secretary Bessent said. “Many banks are interested in it and many sovereign funds have expressed interest.”
“Argentina faces a moment of acute illiquidity,” Secretary Bessent said. “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 U.S. tools to powerfully support investment in our strategic partners.”
The Treasury secretary, who used to be a hedge fund manager, announced the frame work during the International Monetary Fund and the World Bank after meetings with Argentina’s Minister of Economy Luis Caputo, days after President Donald Trump hosted Argentine President Javier Milei at the White House.
As the Lord Leads, Pray with Us…
- For wisdom for Secretary Bessent as he conducts the financial relations of the United States.
- For President Trump and members of his administration to be led by God as they support U.S. allied nations.
Sources: NY Times, UPI News, MSN, The Hill
