Who: The government of Argentina (its central bank). What: A $20B currency swap line from the Treasury's Exchange Stabilization Fund to support the peso ahead of Argentina's October 2025 elections.
$20.0B
committed or authorized
$2.50B
paid out
$2.50B
recovered (repayments, dividends, fees)
about break-even
net (cash)
Outcome
Argentina drew $2.5B in October 2025 and repaid it in December 2025. The agreement remains available.
Legal authority: Exchange Stabilization Fund (31 U.S.C. 5302).
Worth knowing
Treasury Secretary Bessent said the government made “tens of millions” of dollars; that figure is not independently verified, so it is shown here as break-even.