Argentina's Swift Repayment of U.S. Currency Swap: A Financial Milestone

Argentina has fully repaid the U.S. for the currency swap framework provided last year to stabilize its economy, as announced by U.S. Treasury Secretary Scott Bessent. This repayment reflects Argentina's improved financial position, with the Exchange Stabilization Fund no longer holding any pesos.

Argentina has successfully repaid the United States for a currency swap arrangement that was extended last year to help stabilize the South American country's economy. The announcement was made by U.S. Treasury Secretary Scott Bessent on Friday.

In a statement, Bessent noted that Argentina's swift and complete repayment underscores its improved financial standing. He highlighted that the Exchange Stabilization Fund, which had been holding Argentine pesos as part of the swap, currently holds none.

This development marks a significant milestone for Argentina, demonstrating a strengthened economy since the introduction of the swap facility.

(With inputs from agencies.)