Argentina’s central bank (BCRA) has signed a $20 billion currency stabilization agreement with the U.S. Treasury Department. This significant deal comes less than a week before the country’s key midterm legislative elections.
The agreement establishes the terms for bilateral currency swap transactions between the two nations. These transactions are designed to provide financial stability and support for Argentina’s currency during a critical political period.
By facilitating access to U.S. dollars through the swap arrangement, the agreement aims to help stabilize Argentina’s foreign exchange market and mitigate volatility ahead of the elections.
https://seekingalpha.com/news/4505800-argentina-us-bailout-currency-swap-banks-collateral-loan?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news