
Milei's Party Secures Major Win in Argentina Midterms
Argentine President Javier Milei's party, La Libertad Avanza, has secured a major victory in midterm elections, increasing its seats in Congress.
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Argentine President Javier Milei's party, La Libertad Avanza, has secured a major victory in midterm elections, increasing its seats in Congress.

US banks, including JPMorgan, Bank of America, and Goldman Sachs, are seeking collateral for a proposed $20 billion loan to Argentina, as the U.S. Treasury works to stabilize the country's debt.

The U.S. Treasury has announced a $40 billion financial support package for Argentina, combining a currency swap line with a private-sector debt facility.

Argentina's Treasury is rapidly running out of U.S. dollars, with traders estimating as little as $700 million remain as the government struggles to defend the peso.

Argentina's central bank sold $678 million in a single day, its largest intervention since 2019, to support the peso amid high dollar demand from investors.