US Treasury Secretary Scott Bessent on Wednesday said he was working to help corral the private sector around a new US$20-billion "facility" to support Argentina's embattled economy.
"We are working on a US$20-billion facility that would be adjacent to our swap line, of private banks and sovereign wealth funds that I think would be more aimed at the debt market," he told reporters in Washington.
Bessent added that he had spent "weeks" working on the private-sector solution to Argentina's upcoming debt payments, which would come on top of the US$20-billion US swap line the US Treasury recently set up.
"So that would be a total of US$40 billion for Argentina," he said.
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