The U.S. Treasury, under the leadership of Scott Bessent, is negotiating a $20 billion swap line for Argentina’s Central Bank, along with the potential purchase of Argentine dollar-denominated bonds. Officials are also evaluating the extension of a standby credit through the Exchange Stabilization Fund, providing an additional safeguard for Argentina’s financial system.

This announcement comes directly after President Javier Milei’s pivotal meeting with Donald Trump in New York, where both leaders reaffirmed their commitment to strengthening Argentina’s economic stability. The agreement seeks to provide Argentina with fresh liquidity to reinforce reserves and to cover upcoming debt obligations over the next 15 months.

The markets responded with enthusiasm. Argentine assets listed abroad surged, with some ADRs gaining more than 10% in a single session, while the country’s risk spread dropped nearly 200 basis points. These shifts reflect investor confidence in Milei’s ability to secure decisive international support and to restore credibility in Argentina’s economic outlook.

Beyond financial relief, the deal represents a strategic breakthrough. By securing direct bilateral support from the United States, Milei positions Argentina as a reliable partner for global markets, avoiding over-dependence on multilateral lenders. This move stabilizes expectations, strengthens reserves, and gives the government crucial space to advance structural reforms.