{"id":11829,"date":"2025-10-16T15:27:00","date_gmt":"2025-10-16T12:27:00","guid":{"rendered":""},"modified":"2025-10-16T15:27:00","modified_gmt":"2025-10-16T12:27:00","slug":"us-to-organize-20-billion-private-sector-aid-package-for-argentina","status":"publish","type":"post","link":"https:\/\/harici.com.tr\/en\/us-to-organize-20-billion-private-sector-aid-package-for-argentina\/","title":{"rendered":"US to organize $20 billion private sector aid package for Argentina"},"content":{"rendered":"

US Treasury Secretary Scott Bessent said<\/a><\/span> the Trump administration will prepare a new $20 billion package with capital from private banks and sovereign wealth funds to help the Argentine government with its debt payments.<\/p>\n

“This is a private sector solution for Argentina’s upcoming debt payments, and many banks are interested. Additionally, many sovereign wealth funds have indicated they want to participate in this package,” Bessent told reporters in Washington on Wednesday.<\/p>\n

Bessent said this was “not that new,” and that they had been working on it for weeks.<\/p>\n

The secretary added that this mechanism would be separate from the $20 billion swap line that the US Treasury Department announced last Thursday with Argentina’s cash-strapped central bank.<\/p>\n

The US financial support has only partially calmed the market turmoil that began last month when the Milei government entered a political crisis ahead of important midterm elections.<\/p>\n

Milei’s party will try to increase its small share of seats in Congress when voters go to the polls on October 26.<\/p>\n

The swap line announcement and the US’s extraordinary direct intervention in the Argentine currency market last week halted the fall in bond prices and the pressure on the peso.<\/p>\n

But on Tuesday, the pressure resumed after Trump hinted that Washington could withdraw its support if Milei’s party performs poorly in the midterm elections.<\/p>\n

Following Bessent’s announcement, the price of dollar-backed Argentine government bonds rose and their yield fell, while the peso recovered its early-day losses to trade flat against its Tuesday close.<\/p>\n

Bessent said the Treasury intervened again on Wednesday but did not share details.<\/p>\n

“The exchange rate was under pressure again, but this news and the peso purchases have calmed the situation. At least for a while,” said Gabriel Caama\u00f1o, an economist at the financial consultancy Outlier in Buenos Aires.<\/p>\n

Argentine Central Bank President Santiago Bausili said at an event in Washington on Wednesday that he “hoped” the swap line agreed upon last week would come into effect before the midterm elections.<\/p>\n

“We are working every day to complete the documentation related to the swap, and I hope we will be able to put the framework agreement into effect very soon,” Bausili added.<\/p>\n

Investors are concerned that Argentina’s liquid central bank reserves are dangerously low. Milei may need these reserves to support the peso, pay for imports, and make about $13 billion in debt payments due next year.<\/p>\n

Argentina has defaulted on its sovereign debt obligations three times since 2000.<\/p>\n

Bessent did not provide details about the role the US would play in the debt facility. Although the secretary described Argentina as a “systemically important US ally in Latin America,” the two countries are not major trade partners.<\/p>\n

When asked about the systemic risk of the Argentine debt crisis, Bessent argued that the Barack Obama administration had previously “missed a very important opportunity to pull and move Latin American countries into the US sphere of influence.”<\/p>\n

“Governments had shifted from left to right, then due to neglect shifted back to the far left, and most are in that position now. But now they are turning back in the other direction,” Bessent claimed.<\/p>\n","protected":false},"excerpt":{"rendered":"

US Treasury Secretary Scott Bessent said the Trump administration will prepare a new $20 billion package with capital from private banks and sovereign wealth funds to help the Argentine government with its debt payments. “This is a private sector solution for Argentina’s upcoming debt payments, and many banks are interested. Additionally, many sovereign wealth funds […]<\/p>\n","protected":false},"author":1,"featured_media":11830,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[176],"tags":[13721,1511,13724,13720,5390,1601,6685,3916,13722,13723,3874,821,2214],"class_list":["post-11829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-america","tag-20-billion-aid-package","tag-argentina","tag-argentine-peso","tag-debt-payments","tag-financial-support","tag-javier-milei","tag-private-sector","tag-scott-bessent","tag-sovereign-wealth-funds","tag-swap-line","tag-trump-administration","tag-us","tag-us-treasury"],"yoast_head":"\nUS to organize $20 billion private sector aid package for Argentina - Harici<\/title>\n<meta name=\"description\" content=\"The US Treasury announces a new $20 billion private sector package to help Argentina with debt payments amid market turmoil and political crisis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/harici.com.tr\/en\/us-to-organize-20-billion-private-sector-aid-package-for-argentina\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US to organize $20 billion private sector aid package for Argentina - 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