Argentina’s Central Bank (BCRA) confirmed on Monday that it paid US$17.7 million in interest after activating its swap line with the United States in the lead-up to the legislative elections in October 2025. 

Officials also said they want to extend the swap line with China, while ruling out any near-term easing of currency controls for companies.

The announcements came at a press conference held by BCRA President Santiago Bausili and Vice President Vladimir Werning at the bank’s headquarters, where they presented the First-Quarter 2025 Monetary Policy Report (IPOM, in Spanish).

The swap with the United States

The BCRA’s 2025 financial statements, published last week, showed that the bank had paid US$17.7 million to the U.S. Treasury Department in interest on the bailout. What the filings didn’t say was whether that figure represented the full cost of the operation.

Argentine markets had been expecting the interest on the portion of the swap that was tapped to be........

© Buenos Aires Herald