September 26th, 2025
1. The US Treasury confirmed that it is negotiating a $20 billion swap line with Argentina
This week, Javier Milei deepened his rapprochement with the United States in search of financial support for the Argentine economy. The government is negotiating a direct loan with the US Treasury and a SWAP line for up to US$20 billion, key funds to cover debt maturities in 2026 for US$8.5 billion and stabilize the exchange rate. Treasury Secretary Scott Bessent conditioned the support on Milei maintaining his political capital in the legislative elections and implementing additional adjustment measures, such as increasing soybean withholdings and halting costly energy projects. In any case, in his message posted on X (formerly Twitter), Bessent stated that the Treasury “is working closely with the Argentine government to prevent excessive volatility” and that the Latin American country is a “systemically important” ally that cannot be allowed to drift at key moments. This eventual aid comes in a context of Argentina’s strong dependence on Washington and multilateral organizations. The official expectation is that the inflow of dollars will calm the markets.
Ámbito Financiero: El Tesoro de EEUU confirmó que negocia con el Gobierno de Milei una línea de swap por u$s20.000 millones
2. Javier Milei participated in the 80th UN General Assembly
On Monday, September 22, Javier Milei traveled to New York to participate in the 80th UN General Assembly. During the trip, he took the opportunity to strengthen political ties at a key moment for negotiations with Washington. In his speech to the plenary, officially released by the Casa Rosada, he criticized what he called a shift by the Organization toward a “supranational model of government by international bureaucrats,” rejected the UN’s imposition of global agendas above the sovereignty of states, and emphasized that his government “decided to take the right path, even if it is the most difficult one.” He traveled accompanied by Karina Milei, Foreign Minister Gerardo Werthein, and Minister Luis Caputo, who also held meetings with Kristalina Georgieva and U.S. Treasury officials, in parallel with negotiations for a US$ 20 billion SWAP.
El País: Milei se deshace en elogios a Trump en la ONU y omite hablar de la masacre en Gaza
3. After reaching the quota, the government reinstated agricultural export taxes
Following the announcement of zero export taxes, ARCA announced on Wednesday that the agricultural sector sold $7 billion worth of products and, with the planned quota covered, the government is ending the zero export tax measure. The initiative lasted just three business days from its publication in the Official Gazette. Likewise, presidential spokesman Manuel Adorni confirmed on Thursday that the zero withholding tax scheme for poultry and beef exports will remain in place without a quota until October 31.
4. The government announced more than 70 trade deregulations
As part of the national government’s policies of simplification, debureaucratization, and deregulation, 71 regulations were repealed that hindered commercial relations between consumers, enabled abusive price controls, required information that was not used for any specific purpose, and established regulations for programs that had already been discontinued, such as Fair Prices, the Supply Law, and the Shelf Space Law. The national government will eliminate 27 regulations complementary to the Supply Law, which was already eliminated at the beginning of the administration. The regulations that were eliminated require construction product and supply companies to increase production to their maximum capacity; request information from cotton producers and marketers without any reasonable purpose; establish price regulation mechanisms; intervene in the distribution and production of diesel fuel, distorting final prices; set maximum prices in the context of the COVID-19 pandemic; among others. Twenty-four regulations related to the Pre-Conciliation Service in Consumer Relations (COPREC), an entity that had already been eliminated, which supervised and regulated its operation, were also repealed. In addition, 20 regulations referring to dismantled and obsolete programs were repealed, such as Fair Prices, The Market in Your Neighborhood, the Small Grain Producer Stimulus Program, and the Shelf Space Law, among others.
Secretaría de Industria y Comercio: El Gobierno Nacional eliminará más de 70 normas para disminuir la burocracia y simplificar las relaciones de consumo
5. Poverty stood at 31.6% in the first half of the year, marking a sharp decline
Thanks to a recovery in incomes and prices of basic goods, which rose below inflation, poverty stood at 31.6% in the first half of the year, marking a sharp decline of more than 20 points compared to the same period in 2024. The government highlighted that this is the best figure in the last seven years. In a context in which the Universal Child Allowance (AUH) remained at levels similar to inflation, extreme poverty also fell. It stood at 6.9% in the first half of the year. In 2024, it had reached 18.1%, while at the end of 2023 it was 8.7%. Likewise, registered private and public wages increased by 2.2% in July versus inflation of 1.9%, according to INDEC data. Finally, economic activity declined by 0.1% monthly in July and grew by 2.9% compared to the previous year.
Clarín: El índice de pobreza fue de 31,6% en el primer semestre de 2025, el más bajo desde 2018