Warren Presses Treasury Secretary Bessent on Plans to Provide An Additional $20 Billion to Argentina Amid A Government Shutdown
“President Trump does not appear to be interested in meaningfully addressing any of the country's pressing problems.”
“Instead, during a government shutdown, his Administration is working to facilitate private investment in a foreign country–at the expense of the United States economy.”
Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to Treasury Secretary Scott Bessent expressing concern about the Trump Administration’s plans to facilitate an additional $20 billion in private sector investment in Argentina amid a government shutdown and days after committing $20 billion in taxpayer funds to bail out the country. Ranking Member Warren previously authored the No Argentina Bailout Act, which would have prohibited the Trump Administration from bailing out Argentina's financial markets and wealthy investors.
“On October 9, 2025, the Treasury Department–under your leadership–agreed to a $20 billion currency swap with the central bank of Argentina, designed to prop up the country’s failing financial markets,” wrote Ranking Member Warren. “The transaction, which promised to benefit ‘major fund managers’ and ‘wealthy investors’ at the expense of American farmers and taxpayers, was widely understood as a move intended to bolster Argentinian President Javier Milei–a personal friend of President Trump’s–amidst the country’s midterm elections.”
The Ranking Member continued: “The initial $20 billion currency swap, however, was apparently not enough. On October 15, 2025, you informed reporters that the Treasury Department intends to provide additional support to Argentina–this time, by facilitating private sector investment in the country. The Department, you explained, has been ‘working…for weeks’ on ‘a private sector solution to Argentina’s upcoming debt payments’ in the form of a ‘$20 billion facility’ for investments.”
Ranking Member Warren criticized the Trump Administration for focusing on Argentina instead of supporting the American public amid a government shutdown: “President Trump does not appear to be interested in meaningfully addressing any of the country’s pressing problems. Instead, during a government shutdown, his Administration is working to facilitate private investment in a foreign country–at the expense of the United States economy.”
Ranking Member Warren requested answers to her questions on the proposed facility in Argentina and its potential impacts on U.S. financial stability by October 21, 2025.
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