The appointment, scheduled immediately after Trump’s speech before the UN plenary, It could lead to the official announcement of a United States Treasury loan to the Central Bank of the Argentine Republic (BCRA)destined to face debt matches In the coming months and reinforce net reserveseroded by exchange pressures.
He bilateral encounterwhich will also be attended by the Secretary of the Treasury, Scott Besentrepresents an unpublished point in the relationship between both leaders, united by a shared vision of liberal economic policies and a rejection of traditional multilateralism. Sources close to the Milei team in Washington indicated Scope that This support not only injects immediate liquiditybut traces a road map to overcome the bulky debt maturities that Argentina must face until the end of next year, A calendar that exceeds US $ 27.5 billion and that promoted the urgency of this bilateral alliance.
Clear the debt path
The landscape of obligations is tight and multifaceted. Before multilateral organisms, The National Treasury faces capital and interest payments for almost US $ 10,000 million until the end of 2026. To this are added Bonds and letters maturities for other US $ 10,000 million and commitments derived from Bonds for the reconstruction of a free Argentina (Breopamong other maturities.
As is known, Milei has already arrived in New York in the early hours of this Tuesday, has a previous moment of high symbolism on its agenda: witness Trump’s speech before the UN General Assembly, scheduled for 10 in the morning local time. His sister Karina Milei, General Secretary of the Presidency and Figure of Maximum Confidence will accompany him in the gallery; Luis Caputo, Minister of Economy, responsible for the technicalities of the agreement; and the chancellor Gerardo Wertheinarchitect of the diplomatic coordination that facilitated this crossing crossing in a multilateral forum that both leaders usually question vehemently.
The key encounter for Argentina He will have Trump receiving his Argentine counterpart in a reserved room of the UN Complexflanked by two heavyweights of your cabinet: Marco Rubiobrand new Secretary of State, and Scott Besentholder of the Treasury, who emerges as the axis of the bilateral pact.
Besent, an experienced fund manager in emerging markets, was the main driver of this initiative from Washington, and He already anticipated the press that the help of the United States to the Argentine economy will be “great and forceful”without ruling out mechanisms such as SWAP lines, direct currency purchases or even acquisitions of sovereign bonds in dollars to inject immediate trust.
“We will do whatever necessary”the Republican official reiterated, in a wink to the ideological affinity that unites Milei with the Trump administration, founded on regulations and the prioritization of bilateral alliances over international organizations.
The government expects the announcement to be made today
The announcement of the agreement, that the Argentine government projects for this same dayit could have an immediate impact on local markets. Analysts consulted by this medium estimate that an official confirmation would accelerate the bearish trend of the parallel dollar and MEPand would allow the government Getting implementation of exchange bands more solidly -It would be the price of the band of the band’s roof- without forced interventions of the BCRA.
This fall would be enhanced by The recent transient elimination of retentions to cereals and oilseeds —Vigente until October 31 or even liquidate US $ 7,000 million in affidavits of sale abroad (DJVE) -, a measure that encourages early export liquidation and has retired the wholesale dollar.
The obvious objective of this maneuver, both in the domestic and international level, lies in preserve the exchange anchor: According to the government, it comments on the record, to hold the band scheme that served as a lighthouse amid the inflationary storm, avoiding an overflow that derives in an abrupt devaluation and reactivates pressures on prices. Economists close to the government, such as those of the Luis Caputo team, underline that Washington’s support not only provides dollars for immediate payments, but strengthens the credibility of the scheme.
However, the debate between economists divides opinions: Is it an ephemeral window or a reset of the exchange scheme?
In parallel, the sovereign bonds in dollars record profits of up to 2% in the New York opening, while the country risk contracts below 1,200 basic points, reflecting the expectation of a lifeguard that not only relieves fiscal pressure, but also positions the government with future chances of a re -entry to debt markets.
Source: Ambito
