.@POTUS @realDonaldTrump’s America First economic agenda has already provided over $2 trillion in tax cuts for middle class Americans, lower taxes and less red tape for small businesses, and the strength on the world stage to both counter our adversaries and support our allies. As we work to stabilize and secure the Western Hemisphere and Make America Safe Again, the @USTreasury has signed an economic stabilization agreement with the Central Bank of Argentina. President @JMilei’s efforts to reverse his nation’s decades of decline, stemming from the radical leftism of the Peronists are of critical importance. Argentina now has the opportunity to embrace economic freedom, and our stabilization agreement is a bridge to a better economic future for Argentina, not a bailout. President Milei has worked hard to reverse previous irresponsible economic policies, including overspending, fiscal irresponsibility, and reckless borrowing. Just this month, the @IMFNews re-emphasized that it is fully in support of Argentina’s strong economic program. We do not want another failed state in Latin America, and a strong, stable Argentina as a good neighbor is explicitly in the strategic interest of the United States. President Trump is leading the way in the Western Hemisphere and our Administration supports President Milei’s current reform plans and prudent fiscal strategy to Make Argentina Great Again.

The United States stands with Argentina. Yesterday, Treasury bought pesos in the "Blue Chip Swap" and spot markets. Treasury remains in close communication with Argentina's economic team as they work to Make Argentina Great Again. Treasury is monitoring all markets, and we have the capacity to act with flexibility and with force to stabilize Argentina.

The @USTreasury has concluded 4 days of intensive meetings with Minister @LuisCaputoAR and his team in DC. We discussed Argentina’s strong economic fundamentals, including structural changes already underway that will generate significant dollar-denominated exports and foreign exchange reserves. Argentina faces a moment of acute illiquidity. The international community – including @IMFNews – is unified behind Argentina and its prudent fiscal strategy, but only the United States can act swiftly. And act we will. To that end, today we directly purchased Argentine pesos. Additionally, we have finalized a $20 billion currency swap framework with Argentina’s central bank. The U.S. Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets. I emphasized to Minister Caputo that @POTUS @realDonaldTrump’s America First economic leadership is committed to strengthening our allies who welcome fair trade and American investment. 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. The Trump administration is resolute in our support for allies of the United States, and to that end we also discussed Argentina’s investment incentives, and U.S. tools to powerfully support investment in our strategic partners. Minister Caputo informed me of his close coordination with the IMF on Argentina’s commitments under its program. Argentina’s policies, when anchored on fiscal discipline, are sound. Its exchange rate band remains fit for purpose. We reviewed the broad political consensus in Argentina for the second half of President @JMilei’s term. I was encouraged by their focus on achieving fiscally sound economic freedom for the people of Argentina via lower taxes, higher investment, private sector job creation, and partnering with allies. As Argentina lifts the dead weight of the state and stops spending into inflation, great things are possible. The success of Argentina’s reform agenda is of systemic importance, and a strong, stable Argentina which helps anchor a prosperous Western Hemisphere is in the strategic interest of the United States. Their success should be a bipartisan priority. I look forward to the meeting between President Trump and President Milei on October 14, and to seeing Minister Caputo again on the margins of the IMF Annual Meetings.