U.S. Treasury's Dramatic Intervention in Argentina

The U.S. Treasury has implemented a $20 billion currency swap framework with Argentina, supporting its economy amid financial instability. Treasury Secretary Scott Bessent assured this measure will stabilize markets. This move came after discussions with Argentine officials and the IMF, sparking a positive economic response in Argentina.

The U.S. Treasury made a bold move on Thursday, finalizing a $20 billion currency swap with Argentina aimed at stabilizing the South American country's economy, which has faced significant turmoil.

The measures, endorsed by Treasury Secretary Scott Bessent, sent the Argentine peso and U.S. dollar bonds soaring, providing breathing room for the beleaguered nation.

In coordination with the International Monetary Fund, the U.S. announced the swap after high-level discussions in Washington, emphasizing strategic support while denying it constitutes a bailout.

(With inputs from agencies.)