https://www.reuters.com/world/americas/us-treasury-chief-us-ready-support-argentina-leaders-meet-tuesday-2025-09-22/WASHINGTON, Sept 22 (Reuters) - U.S. Treasury Secretary Scott Bessent on Monday said that "all options" were on the table for stabilizing Argentina, including swap lines and direct currency purchases, while underscoring President Donald Trump's confidence in Argentine President Javier Milei and his economic team.
Bessent told reporters any U.S. action would be "large and forceful," but said no steps would be taken until after he and Trump meet with Milei in New York on Tuesday on the sidelines of the United Nations General Assembly.
Asked if Washington could act immediately afterwards, Bessent said: "We'll see where the markets are and what the level of outflows are - or maybe the outflows turn into inflows - but no one should doubt the resolve of this administration, or my resolve."
Bessent refused to be drawn on what specific steps the U.S. might take, but said, "I can tell you that it will be large and forceful."
Argentine financial assets rallied on Monday on the news, with U.S.-traded stocks up over 10% and the peso strengthening, after sharp drops in recent weeks that included international bonds declining more than 20% for the year through Friday.
Markets have been roiled by corruption allegations inside Milei's circle and a larger-than-expected loss in a local election in Buenos Aires, reflecting growing frustration with austerity measures and triggering investor concern over Milei's ability to continue to reshape the economy, with October midterm elections on the horizon.
Bessent, a former hedge fund executive, said he did not see a risk of financial contagion from the fallout and underlined Washington's confidence in Argentina's implementation of economic reforms. Since taking power in late 2023, Milei has had some success in taming high inflation and achieving a budget surplus.