EUA e Argentina fecham swap de US$ 20 bilhões para estabilizar reservas do peso

Acordo histórico injeta bilhões para conter crise cambial argentina

O Federal Reserve e o Banco Central da Argentina finalizaram um dos maiores acordos de swap da história - um pacote de US$ 20 bilhões destinado a evitar o colapso das reservas internacionais do país sul-americano.

Linha de vida monetária

O mecanismo permite que Buenos Aires acesse dólares americanos diretamente, contornando os tradicionais empréstimos do FMI que vêm com condições rigorosas. A medida chega enquanto o peso argentino enfrenta pressão constante e as reservas internacionais se aproximam de níveis críticos.

Os US$ 20 bilhões representam um dos maiores pacotes de assistência financeira já concedidos a um país em desenvolvimento - superando vários resgates do FMI da última década.

Enquanto os tecnocratas celebram outra intervenção monetária, os traders de cripto observam com interesse: mais uma demonstração de que até os bancos centrais precisam de redes de segurança quando suas moedas falham.

Washington steps in to stabilize Argentina’s collapsing currency

Argentina, led by Trump ally President Javier Milei, has been struggling with currency sell-offs in recent weeks. According to data from TradingEconomics, the Argentine peso weakened beyond 1,400 per USD this week, sliding back toward its record low of 1,475 reached on September 19.

According to Bessent, the peso’s decline and shrinking central bank foreign reserves has left the country in a “moment of acute illiquidity.” The Treasury secretary explained that the swap line would give Argentina immediate access to US dollars in exchange for pesos. 

The two central banks will trade currencies temporarily to help Buenos Aires defend its exchange rate and meet short-term liquidity needs.

Bessent admitted that if the peso’s value weakens during the swap period, it could expose the US to losses. However, the Treasury chief assured policymakers that the USD-Pesos swap was being executed through an Exchange Stabilization Fund that he directly oversees.

Trump and Milei had discussed the plan during a meeting on the sidelines of the United Nations General Assembly in New York in September. The two leaders are scheduled to meet again in Washington on Tuesday to talk more about how America can aid Argentina’s ailing economy.

“I continue to hear from American business leaders who, thanks to President Milei’s leadership, are eager to tie the American and Argentine economies more closely together,” Bessent continued, “The Trump administration is resolute in our support for allies of the United States.”

He also lauded Buenos Aires for its “sound fiscal discipline” and commitment to lower taxes, higher private investment, and creation of employment opportunities.

US support critical to calming down political uncertainty

The US intervention comes at a time when markets are questioning Milei’s staying power and the sustainability of his reforms. Argentina’s central bank has been burning through its reserves to contain the peso’s fall, while inflation is edging above 150% annually.

While details of the swap’s maturity period were not disclosed, officials familiar with the discussions said the agreement would be reviewed quarterly in coordination with the IMF and Argentina’s finance ministry.

Milei, who came to power nearly two years ago, pledged to rescue Argentina’s chronically unstable economy by “exterminating” inflation and slashing government spending. His populist “chainsaw” approach won him support among voters wary of decades of mismanagement.

However, the momentum behind Milei’s libertarian revolution has faltered in recent months. The president was in the middle of a cryptocurrency rug pull scandal involving LIBRA, but the anti-corruption office cleared his name, Cryptopolitan reported in February.

In August, protests turned violent after Milei’s sister and chief of staff, Karina Milei, was implicated in a corruption scandal. The president was pelted with stones during one demonstration, and in the following month, Milei’s La Libertad Avanza party suffered defeat in the Buenos Aires provincial election, a region that accounts for nearly 40% of Argentina’s population. 

Last Sunday, one of his closest allies José Luis Espert, was forced to withdraw from the election, after he admitted he had received a $200,000 payment from an alleged drug trafficker.

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