The Government is negotiating to obtain financial support from the US Treasury. “The conversations are advanced”, They pointed to Scope sources close to the treatment. While the loan amount is still an issue under discussion, The possible assistance of the first power is significant at a time when local markets are going through turbulence.
Likewise, it is also anticipated that they are progressing The conversations to achieve a commercial agreement between the US and Argentina. The understanding would include more than a hundred tariff positions whose percentages would fluctuate between 0 and 10%, that is, the lowest scale established by the northern country.
Private analysts question what they consider a limited accumulation of reserves in foreign exchange in the Central Bank, at a time when the electoral prelude, as usual, stimulates the investment in foreign exchange for precautionary reasons.
US strategic support to Argentina
In this context, The dollar He suffered strong fluctuations in recent weeks that in recent days tended to moriger, but at the expense of interest rates that double or triple the expected inflation.
A relevant fact that the sources contribute is that the initiative to financially assist Argentina It did not arise as an request from the authorities of the Ministry of Economybut it came directly from the secretary of the US Treasury, Scott Besent.
At the beginning of the year, in a meeting organized by JP Morgan, Besent had said that if there was “some type of external shock” in Argentina, the United States could give a special loan “so that the country could continue with the reforms.” His words were: “I think, if they continue with what they are doing, if they maintain the course, I would even be willing to use the exchange stabilization fund (spher) to soften their adjustment, if necessary, if they keep the course.”.
It is interpreted as another sample of the close relationship that the presidents have Donald Trump and Javier Milei. In addition to joining them the ideological affinity, the Republican leader has in his Argentine pair his main ally in Latin America, unlike the relationship he maintains with the Brazilian president, Lula da Silva.
In what was a gesture of this approach, Besent visited Buenos Aires last April, on one of his first trips abroad. On that occasion he said that he expected Argentina to cancel the swap granted by the Chinese government. The influence of the Asian giant in the Latin American region is one of the greatest concerns of the administration of Donald Trump.
On the occasion of his visit in Argentina, the Treasury Secretary in statements to Bloomberg said regarding the SWAP between the Central Bank of the Argentine Republic and the Popular Bank of China, Besent said: “They have a credit swap of 18,000 million dollars in Yuan. Argentina, under the previous Peronist government, obtained 5,000 million dollars, and that amount will remain pending. The Chinese showed a great effort after the announcement, or in conjunction with that of the IMF, so it will extend a year. explained.
From the moment of those statements made at the beginning of April to date, the Government had difficulty accumulating reservations, where it can be inferred, that the help of the United States would be timely.
Source: Ambito
