In addition to making payments to bondholders, Milei’s radical libertarian administration had “quickly and fully repaid its limited draw,” Bessent said, without specifying the amount.
The Treasury’s latest report on the status of the credit line said that Argentina’s central bank had traded pesos for $2.5 billion through the swap as of the end of October.
The Argentine Central Bank confirmed Bessent’s announcement.
Thanks to Argentina’s deposit, Bessent said, the U.S. Exchange Stabilization Fund tapped for the bailout holds no more Argentine pesos.
“Stabilizing a strong American ally – and making tens of millions in profit for Americans – is an America First homerun deal,” Bessent wrote. “Setting the course for Latin America, a strong and stable Argentina that helps anchor a prosperous Western Hemisphere is in our clear best interest.”
Luis Caputo, Argentina’s economy minister thanked the Trump administration “for the trust in our economic policy.”
“It is an excellent reality for our country to have been able to build this geopolitical alliance and to know that we have the explicit support of the most important country in the world,” he said.
But Argentina is not out of the woods.
