U.S. Treasury Secretary Scott Bessent has announced that the United States bought pesos in the Argentine market today as part of the negotiations under way in Washington to assist President Javier Milei’s government. Finance specialists said this kind of direct intervention in the local forex market by the U.S. was “unheard of.”

“Today we directly purchased Argentine pesos,” Bessent said.

The @USTreasury has concluded 4 days of intensive meetings with Minister @LuisCaputoAR and his team in DC. We discussed Argentina’s strong economic fundamentals, including structural changes already underway that will generate significant dollar-denominated exports and foreign…

In a lengthy post on X, the U.S. official stated: “Argentina faces a moment of acute illiquidity. The international community — including [the International Monetary Fund (IMF)] — is unified behind Argentina and its prudent fiscal strategy, but only the United States can act swiftly.”

The announcement was made after a week of negotiations in Washington between officials from Argentina’s economic team, led by Economy Minister Luis Caputo, and their US counterparts.

The dollar exchange rate is a measure of economic fortune closely........

© Buenos Aires Herald