Argentina Fully Repays U.S. Swap Line as Treasury Cites Profit

Overview

• U.S. Treasury Secretary Scott Bessent announced that Argentina quickly and fully repaid its limited use of the U.S. swap line, leaving the Exchange Stabilization Fund with no Argentine pesos.
• The Central Bank of Argentina said it settled the operations conducted in the fourth quarter of 2025 under the US$20 billion stabilization arrangement agreed at the end of October.
• Bessent said the ESF recorded no losses and generated tens of millions of dollars in profit for U.S. taxpayers.
• U.S. statements linked the outcome to Argentina’s stronger finances, renewed market access, and changes in monetary and exchange-rate policy, with backing from the IMF and other partners.
• On Friday, Argentina paid US$4.3 billion on its global bonds after securing a US$3 billion one-year repo at 7.4% with six international banks, underscoring improved access to financing.