The United States rushed to stabilise Argentina’s economy on Thursday, offering US$20 billion in financing and carrying out a rare intervention in currency markets to prop up the peso after weeks of sharp declines.
Washington has finalised a US$20-billion currency swap framework with Argentina’s Central Bank, Treasury Secretary Scott Bessent said in a social media post. The US also directly purchased pesos, he said, a move that follows unsuccessful efforts by Argentine authorities to stabilise the exchange rate on their own.
Trump and Bessent are making a bet on
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