BUENOS AIRES: Argentina President Javier Milei has signed a new “tax innocence” law aimed at encouraging citizens to bring billions of dollars held outside the formal banking system back into circulation. Read More: Towards a sustainable financial system For decades of high inflation and strict currency controls, Argentines converted pesos into US dollars and stored them […]
Javier Milei
US Strikes $20 Billion Currency Swap Deal with Argentina Amid Market Turmoil
WASHINGTON – The United States finalized a $20 billion currency swap line with Argentina on Thursday and directly purchased Argentine pesos, in what Treasury Secretary Scott Bessent called an “exceptional measure” to stabilize turbulent markets in the debt-laden South American nation. “US Treasury is prepared to take whatever exceptional measures are warranted to provide stability […]