U.S. Pledges $20B Financial Aid to Bolster Argentina’s Economy
The U.S. Treasury Secretary, Scott Bessent, announced on October 15, 2025, a significant move by the United States to support Argentina’s faltering economy. The U.S. is working to establish a $20 billion private sector financing facility. This initiative is an addition to an existing $20 billion currency swap arrangement.
The facility will involve private banks and sovereign wealth funds, with a focus on Argentina’s debt market. The aim is to assist the country in managing its impending debt payments. Bessent emphasized that he has spent “weeks working on the private-sector solution” to address Argentina’s financial challenges.
The timing of this announcement is strategic, coming shortly before Argentina’s midterm elections. The dual-pronged approach of public currency swaps and private sector financing signifies a substantial U.S. commitment to stabilizing one of Latin America’s largest economies amidst ongoing economic turbulence.
Source: Al Jazeera