Argentina Repays $2.5 Billion US Currency Swap Drawdown

Argentina completed the repayment of a $2.5 billion drawdown from a US currency swap line, according to an announcement by US Treasury Secretary Scott Bessent on January 9, 2026.

The repayment follows the establishment of a $20 billion swap line in October 2025, which was set up through the US Treasury’s Exchange Stabilization Fund to provide support to Argentina’s central bank. The US Treasury finalized the agreement by directly purchasing Argentine pesos and agreeing to the swap line on October 9, 2025.

By the end of October 2025, Argentina had accessed $2.5 billion from the swap line. The recent repayment means that the US Exchange Stabilization Fund no longer holds any Argentine pesos, as stated by Bessent.

Bessent described the transaction as beneficial for the US, indicating that it generated tens of millions in profit for American taxpayers. The US Treasury Secretary made this assessment following the full repayment by Argentina.

What the numbers show

• $20 billion was the total value of the currency swap line created in October 2025
• $2.5 billion was drawn by Argentina by the end of October 2025
• Repayment was announced on January 9, 2026

The swap line was established to help stabilize Argentina’s financial system by providing access to US dollars in exchange for Argentine pesos. The arrangement was part of broader efforts to support Argentina’s central bank during a period of financial pressure.

The US Treasury’s Exchange Stabilization Fund managed the swap line, facilitating the direct purchase of Argentine pesos as part of the agreement. This mechanism allowed Argentina to draw US dollars while providing the US with exposure to the Argentine currency for the duration of the agreement.

Following the repayment, the US government confirmed that it no longer holds any Argentine pesos through the Exchange Stabilization Fund. The transaction concluded the temporary financial arrangement between the two countries.

Bessent stated that the deal produced a profit for US taxpayers, with the amount described as being in the tens of millions. The conclusion of the swap line drawdown marks the end of this specific financial engagement between the US and Argentina.

* This article is based on publicly available information at the time of writing.