Argentina Says US Treasury Will Continue to Support Peso

Argentina's Economy Minister, Luis Caputo, has announced that the US Treasury will continue to support the Argentine peso, regardless of the outcome of the country's upcoming midterm elections. Caputo stated that the US remains committed to a $20 billion currency-swap line with Argentina, which is a crucial measure to help stabilize the country's currency and economy. The announcement comes amidst concerns over the potential impact of the election results on Argentina's economic policies and stability. However, Caputo's assurance suggests that the US is willing to maintain its support for the Argentine peso, regardless of any political changes in the country. This continued support from the US Treasury is seen as a positive development for Argentina's economic recovery efforts, as the country has been struggling with high inflation and a weakening currency in recent years. The currency-swap line is expected to play a vital role in stabilizing the peso and bolstering investor confidence in the country's economic outlook.