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US Treasury secretary Scott Bessent said Washington is arranging a $20bn facility backed by private banks and sovereign wealth funds to help Argentina meet debt payments, separate from last week’s $20bn swap line with its central bank. Aimed at supporting President Javier Milei, the effort followed US currency-market interventions last week and Wednesday. Bonds rallied and the peso steadied after announcement, though pressure flared after Trump suggested support could be withdrawn if Milei’s party falters in Oct. 26 midterms. Central bank chief Santiago Bausili said he hopes the swap is finalized before the vote.

Prepared by Christopher Adams and reviewed by editorial team.