LatinNews Daily - 10 October 2025

*Argentina’s President Javier Milei has thanked US Secretary of the Treasury Scott Bessent for his “firm support” following his announcement that the US had directly purchased Argentine pesos and finalised a previously announced US$20bn currency swap framework with Argentina’s central bank (BCRA). In a social media post, Milei also thanked US President Donald Trump, who has pledged to help Milei stabilise Argentina’s economy. This comes as Bessent announced that the Treasury had concluded four days of “intensive meetings” with Argentina’s Economy Minister Luis Caputo and his team in Washington DC. According to Bessent, they discussed “Argentina’s strong economic fundamentals, including structural changes already underway that will generate significant dollar-denominated exports and foreign exchange reserves”. Bessent also stated that the international community, including the International Monetary Fund (IMF), was “unified” behind Argentina. This was backed up by a social media post by the IMF’s managing director, Kristalina Georgieva, who commended the “powerful action for Argentina” and said that the IMF was “fully aligned in support of [Argentina’s] strong economic program, anchored on fiscal discipline and a robust FX regime to facilitate reserve accumulation”. Caputo thanked Georgieva and Bessent, saying he was looking forward to meeting Bessent again on the sidelines of the IMF Annual Meetings, which are running from 13-18 October in Washington.

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