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US launches US$20b financial lifeline for Argentina, buys pesos in rare move

The United States rushed to stabilise Argentina’s economy on Thursday, offering US$20 billion in financing and carrying out a rare intervention in currency markets to prop up the peso after weeks of sharp declines. Washington has finalised a US$20 billion currency swap framework with Argentina’s central bank, Treasury Secretary Scott Bessent said in a social media post. The US also directly purchased pesos, he said, a move that follows unsuccessful efforts by Argentine authorities to stabilise...


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