Bessent Defends $20 Billion Argentina Aid Amid U.S. Shutdown

Treasury Secretary Scott Bessent defended the Biden administration’s decision to finalize a $20 billion emergency lifeline to Argentina during the ongoing U.S. government shutdown, calling it a “mission-critical” effort for national security and global financial stability.

His remarks came in response to Sen. Elizabeth Warren’s letter questioning why the Treasury was advancing foreign aid while federal operations were limited.

Treasury Secretary Scott Bessent said Tuesday the US government had completed “an economic stabilization” accord with Argentina’s central bank https://t.co/uETcb6yQPh

— Bloomberg (@business) October 21, 2025

The aid, structured as a currency swap, allows Argentina’s central bank to exchange pesos for U.S. dollars to boost liquidity and stabilize markets.

Argentina’s peso has plunged amid political uncertainty following election losses by President Javier Milei, a close ally of President Donald Trump.

Although the peso initially strengthened after the deal, it hit a new low this week, raising doubts about the rescue’s impact.

Bessent did not address Warren’s concerns about private-sector involvement. He is currently meeting Asian finance ministers amid renewed U.S.-China trade tensions.

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