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Argentina’s President Set to Visit US for $20bn Swap Deal
October 1, 2025
Argentina’s President Javier Milei is set to meet US President Donald Trump on October 14, coinciding with IMF and World Bank meetings in Washington. The visit comes as Argentina seeks a $20bn US swap line to bolster dollar reserves, though the plan has stirred internal political backlash in the US. The Argentine foreign ministry framed the meeting as a step to deepen strategic ties. Last week, news of swap talks briefly lifted Argentina’s bonds and peso, but both have since weakened amid uncertainty. Milei’s austerity program has stabilized finances somewhat, yet concerns over liquidity and October’s midterm elections remain. The proposed US support has angered some Republicans, who argue Argentina is undercutting US farmers. Last week Argentina’s government temporarily suspended export taxes on grains, with traders booking $7bn in sales most of which was with China as per traders. Analysts warn the move benefits China at the expense of US producers, who face stalled trade with Beijing.
Argentina’s bonds traded weaker with its 3.5% 2041s down by 2.6 points to 48.7, yielding 15.6%.
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