U.S. Ready to Offer FX Credit Line to Argentina
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The United States is prepared to offer a foreign exchange credit line to Argentina. Bessent, who recently visited Buenos Aires, suggested at a private meeting in Washington that the U.S. could tap its Exchange Stabilization Fund to support Argentina in case of an unforeseen shock. He stated that if Argentina ’stays the course,’ the U.S. Treasury would be willing to use the fund to smooth over their adjustment. This move would act as a backstop for Argentina’s reforms and help guard against volatility that could derail progress. Bessent added that if something happens that is not Argentina’s fault, the Treasury would be willing to step in and help smooth things over.
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