U.S. prepares $20B Argentina swap as Trump meets Milei
The U.S. Treasury is preparing a $20 billion currency swap line to support Argentina’s peso and has directly purchased an unspecified amount of pesos, as President Donald Trump meets Argentine President Javier Milei at the White House at 1:15 p.m. ET on Oct. 14, 2025. Treasury Secretary Scott Bessent said last Thursday the U.S. will allow Argentina to exchange up to $20 billion worth of pesos for dollars, following market turmoil after Milei’s party suffered electoral setbacks. Milei also seeks tariff relief for Argentine exports during the meeting, which comes amid a U.S. government shutdown and domestic optics concerns over aiding a serial defaulter.
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Economy
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📌 Key Facts
- Treasury Secretary Scott Bessent announced the U.S. will allow up to $20B in peso-for-dollar exchanges and confirmed direct U.S. purchases of pesos.
- Trump and Milei are meeting at the White House on Oct. 14, 2025 at 1:15 p.m. ET.
- Argentina’s push follows a sharp peso slide and reserve drain after local election losses; Economy Minister Luis Caputo held talks in Washington last week.