The US Treasury has finalized a significant $20 billion currency swap with Argentina, a move that underscores the strengthening economic ties between the two nations. This comes at a crucial time for Argentina's right-wing President Milei, who is gearing up for a critical midterm election this month. The currency swap not only provides Argentina with much-needed liquidity but also signals confidence in Milei's leadership, which could have positive implications for both countries' economies.

The United States has taken a significant step by purchasing Argentine pesos and establishing a $20 billion currency swap framework with Argentina's central bank. This move, announced by Treasury Secretary Scott Bessent, comes at a crucial time as Argentina faces economic challenges under President Javier Milei, a Trump ally. The support is expected to stabilize the Argentine economy and strengthen ties between the two nations, especially ahead of important mid-term elections.