U.S. Treasury Buys Pesos, Sets $20B Swap with Argentina

The U.S. Treasury has purchased Argentine pesos and established a $20 billion currency swap framework with Argentina's central bank, causing a surge in the peso and Argentine dollar bonds. The move follows four days of meetings with Argentine Finance Minister Luis Caputo and IMF officials. The U.S. Treasury's actions aim to provide stability to markets amidst Argentina's acute illiquidity.

Reviewed by JQJO team

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