The U.S. Senate Committee on Banking, Housing and Urban Affairs’ Ranking Member, Senator Elizabeth Warren, sent a letter to Treasury Secretary Scott Bessent questioning the Trump Administration’s reported plans to facilitate an additional USD 20 billion in private sector investment in Argentina, following Treasury’s agreement to a USD 20 billion currency swap with the Central Bank of Argentina. In the letter, Warren described the 9 October 2025 swap as intended to support Argentina’s financial markets and argued it would benefit major fund managers and wealthy investors at the expense of American farmers and taxpayers. She pointed to Bessent’s 15 October 2025 comments to reporters indicating Treasury had been working for weeks on a “private sector solution” for Argentina’s upcoming debt payments, including a “USD 20 billion facility” for investments, and raised concerns about the potential impacts on U.S. financial stability amid a government shutdown. Warren requested responses to her questions by 21 October 2025.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-10-16
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member presses Treasury for details on a proposed USD 20 billion Argentina private investment facility
Senator Elizabeth Warren questioned Treasury Secretary Scott Bessent about the Trump Administration's plan to facilitate an additional USD 20 billion in private investment in Argentina after a USD 20 billion currency swap with its Central Bank. Warren expressed concerns that the swap would benefit major fund managers and wealthy investors over American farmers and taxpayers, and raised issues about potential impacts on U.S. financial stability amid a government shutdown.