Argentine Economy Minister Luis Caputo stated that the United States remains committed to fulfilling its $20 billion currency swap arrangement with Argentina, regardless of the outcome of the country's midterm elections later this month.

Speaking to reporters in Washington, Caputo said the US Treasury is still finalizing details of the currency swap agreement but has already decided to provide Argentina with the funding facility. He added that the US government will continue to support the peso exchange rate when necessary.

US President Trump had earlier hinted during a White House meeting with Argentine President Milei that the financial assistance might depend on the latter's ability to win the elections. It remains unclear whether Trump was referring to Argentina's congressional midterm elections on October 26 or the 2027 presidential election where Milei is expected to seek re-election. Caputo indicated that Trump's comments were misunderstood.

"Obviously he wasn't referring to that, but rather to policy continuity," Caputo said when asked about Trump's remarks. "The 'whatever it takes' support that the United States gives Argentina continues."

Caputo declined to reveal the extent of the US Treasury's intervention in the peso market last week but indicated there could be more action. He also did not specify when the currency swap agreement might be finalized.

"The US Treasury has various tools available and can act in different markets at times it deems appropriate. This could be foreign exchange, financial foreign exchange, dollar futures, or bond purchases," he said.