Argentina secures US$20bil currency pact

Fiscal spending: Bessent speaks at a press conference in Washington. The Treasury secretary says the United States would not put additional conditions on Argentina beyond Milei’s government continuing to pursue its fiscal austerity programmes. — Reuters

BUENOS AIRES: Argentina’s central bank says it signed a US$20bil exchange rate stabilisation agreement with the US Treasury Department, six days ahead of a key midterm election.

The central bank’s statement said on Sunday the agreement sets forth terms for bilateral currency swap operations between the United States and Argentina, but it provided no technical details.