Bessent says US buys more Argentine pesos, working on $20 billion debt facility

The U.S. again purchased Argentine pesos in the open market on Wednesday, Treasury Secretary Scott Bessent told reporters, adding that the department was working with private sector investment funds to create a $20 billion facility to invest in Argentina's sovereign debt.

Bessent said during a press conference that the facility would sit alongside a new $20 billion U.S. swap line for Argentina, providing a total of $20 billion in support for Latin America's third-largest economy. Bessent also clarified that the U.S. would continue to support Argentina financially as long as President Javier Milei's government pursues "good policies," regardless of the outcome of a parliamentary election in the South American country later this month.

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