US Treasury says Argentina has repaid its U.S. credit line

U.S. Treasury Secretary Scott Bessent announced Argentina has repaid the funds it drew from a $20 billion U.S. credit line, and Argentina's central bank confirmed the repayment; officials say the country's foreign exchange reserves remain low.

U.S. Treasury Secretary Scott Bessent announced that Argentina has repaid the funds it drew from a $20 billion credit line provided by the United States. Argentina's central bank confirmed the repayment. The Treasury reported the central bank had traded pesos for $2.5 billion through the swap as of the end of October, and said the U.S. Exchange Stabilization Fund no longer holds Argentine pesos. Known details: - Bessent announced the repayment but did not specify the exact amount Argentina returned. - The Treasury report said the central bank had traded pesos for $2.5 billion through the swap by the end of October. - The U.S. Exchange Stabilization Fund holds no more Argentine pesos following Argentina's deposit. - The article reports Argentina's foreign exchange reserves remain low and that the country faces upcoming repayments to the International Monetary Fund and other private creditors. Summary: The Treasury framed the repayment as a justification for its rescue operation and noted the ESF no longer holds Argentine pesos. Despite this repayment, Argentina's low reserves and scheduled obligations to the IMF and private creditors will continue to be a financial test for the government.