\tArgentina Fully Repays US Currency Swap Funds – Hungarian Conservative<\/p>\n
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Skip to content<\/a><\/p>\n \n\t\t\t\t\tArgentina has repaid the full $2.5 billion drawn under its currency swap agreement with the United States, a move praised by Washington as proof of Buenos Aires\u2019 improved financial stability. Hungary is negotiating a similar arrangement with Washington ahead of the parliamentary election in 2026, positioning an American swap line as insurance against market turbulence and political risk.\t\t\t\t<\/p>\n Argentina has repaid the full amount of the $2.5 billion used under the currency swap framework agreed in autumn 2025 with the United States. The announcement was made by US Treasury Secretary Scott Bessent in a post on X, in which he praised Buenos Aires for its \u2018strengthened financial position\u2019, adding that the Exchange Stabilization Fund currently does not hold any pesos.<\/p>\n US President Donald Trump and his Argentine counterpart, Javier Milei, agreed on the deal in October, which made up to $20 billion available to support the Latin American country\u2019s financial stability ahead of the midterm elections. Milei\u2019s party made significant gains<\/a> in the vote, strengthening the president\u2019s position in both houses of Congress.<\/p>\n Trump congratulated Milei after the election, saying he was \u2018doing a wonderful job\u2019 and adding that \u2018our confidence in him was justified by the People of Argentina\u2019. Responding to Trump, Milei called him a \u2018great friend of Argentina\u2019 and thanked him for \u2018trusting the Argentine people\u2019.<\/p>\n According to media reports, the agreement remains in force<\/a> under its original terms. The repaid $2.5 billion had been used in October to service debt to the International Monetary Fund and to replenish foreign currency reserves that were drawn upon to support the exchange rate in the days leading up to the election.<\/p>\n After meeting Donald Trump in November 2025 in Washington, DC, Hungarian Prime Minister Viktor Orb\u00e1n announced that the two leaders had agreed on an American \u2018protective shield\u2019<\/a> to safeguard Hungary\u2019s financial stability in the event of an external, speculative, or politically motivated attack on its financial system. \u2018If there is no money from Brussels, there is money from America,\u2019 he declared.<\/p>\n However, in December, Trump denied<\/a> that he had promised such a deal to Orb\u00e1n, telling POLITICO that the Hungarian prime minister had \u2018certainly\u2019 requested it. Orb\u00e1n, responding to a journalist\u2019s question at his year-opening international press conference last week, said that Minister of Foreign Affairs and Trade P\u00e9ter Szijj\u00e1rt\u00f3 and his team are still working<\/a> on the agreement.<\/p>\n