{"id":213620,"date":"2025-10-20T17:33:07","date_gmt":"2025-10-20T17:33:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/213620\/"},"modified":"2025-10-20T17:33:07","modified_gmt":"2025-10-20T17:33:07","slug":"argentina-formalizes-20bn-currency-swap-deal-with-us-argentina","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/213620\/","title":{"rendered":"Argentina formalizes $20bn currency swap deal with US | Argentina"},"content":{"rendered":"

Argentina<\/a> has formalized a currency swap agreement with the United States for up to $20bn aimed \u201cat contributing to Argentina\u2019s economic stability\u201d, the South American country\u2019s central bank said.<\/p>\n

The deal is part of huge financial support from the administration of Donald Trump<\/a>, a strong backer of the Argentinian president, Javier Milei<\/a>, who is under pressure<\/a> ahead of midterm elections on 26 October.<\/p>\n

The peso has been fluctuating wildly ahead of the vote, disrupting the savings and spending plans of Argentinians who fear it could lose even more value in the coming weeks.<\/p>\n

As well as the swap line, the US treasury secretary, Scott Bessent, last week announced efforts to secure a separate $20bn facility from \u201cprivate banks and sovereign wealth funds\u201d to support Argentina\u2019s embattled economy.<\/p>\n

Milei, once a global poster boy for budget-slashing libertarian politics, is heading into the polls diminished by his failure to stabilize the ailing peso, despite spending nearly all the Central Bank\u2019s dollar reserves to prop it up.<\/p>\n

Inflation, which Milei had initially managed to stem after taking office in December 2023, has been rising again month-on-month.<\/p>\n

Hosting Milei at the White House last week, Trump threatened Argentinian voters<\/a> with withdrawing aid if his ally was defeated at the ballot box.<\/p>\n

\u201cIf he loses, we are not going to be generous with Argentina,\u201d Trump said.<\/p>\n","protected":false},"excerpt":{"rendered":"Argentina has formalized a currency swap agreement with the United States for up to $20bn aimed \u201cat contributing…\n","protected":false},"author":2,"featured_media":213621,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-213620","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/213620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=213620"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/213620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/213621"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=213620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=213620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=213620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}