Senator Warren Questions Treasury’s Support for Argentina's Financial Markets
Senate Banking Committee Ranking Member Elizabeth Warren asked Treasury Secretary Scott Bessent to explain the Trump Administration’s reported plans to provide billions of dollars in private sector investment to Argentina.
In her letter, Senator Warren questioned two major Treasury actions totaling $40 billion in support for Argentina’s financial markets—a $20 billion currency swap with Argentina’s central bank finalized on October 9, 2025, and a proposed $20 billion private investment facility aimed at helping Argentina meet upcoming debt payments. Senator Warren raised concern that facilitating additional large-scale investment in Argentina could expose U.S. banks to heightened financial risks and divert private capital from domestic markets. She requested detailed information on the structure and purpose of the proposed investment facility; Treasury’s role in its development; and any related communications with Argentine officials, financial institutions, or sovereign funds. Additionally, she asked whether Treasury staff are working on this initiative during the shutdown and whether the Department has analyzed potential effects on U.S. financial stability.
Senator Warren also highlighted reports that the initial bailout was designed to benefit "major hedge funds" and bolster Argentine President Javier Milei ahead of the country’s midterm elections.
Senator Warren requested a response by October 21, 2025.