US negotiating $20 bn swap line with Argentina, Treasury Secretary Scott Bessent says

The United States stands ready to do what is needed to support Argentina and is currently in negotiations for a $20 billion swap line with the country's central bank, U.S. Treasury Secretary Scott Bessent said on Wednesday in a post on X.

Bessent said the U.S. is prepared to purchase Argentina's U.S. dollar-denominated bonds and will do so as conditions warrant. The U.S. is also set to deliver significant stand-by credit via the exchange stabilization fund, he said.

"Argentina has the tools to defeat speculators, including those who seek to destabilize Argentina's markets for political objectives," he said.

Bessent also said the U.S. is ready to purchase secondary or primary government debt and is working with the Argentine government to end the tax holiday for commodity producers converting foreign exchange.