WASHINGTON/BUENOS AIRES, Oct. 10 (Xinhua) -- The United States and Argentina have finalized a 20 billion-U.S.-dollar currency swap framework aimed at stabilizing Argentina's financial markets amid a severe liquidity crunch, officials said Thursday.

U.S. Treasury Secretary Scott Bessent confirmed the deal after four days of meetings in Washington with Argentine Economy Minister Luis Caputo and his delegation, attended also by IMF officials.

Bessent said Argentina faces "a moment of acute illiquidity," but noted that the international community, including the IMF, is united in supporting the country's "prudent fiscal strategy." He wrote on X, "To that end, today we directly purchased Argentine pesos."

He added that the U.S. Treasury has "finalized a 20 billion-dollar currency swap framework with Argentina's central bank" and is "prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets."

The package also includes U.S. intervention in Argentina's foreign exchange market through peso purchases.

Caputo welcomed the agreement, describing it as a step that "lays a solid foundation for shared economic goals."

In April, the IMF approved a new 20 billion-dollar loan program for Argentina to bolster its economic recovery. The latest U.S. support comes amid continued currency volatility and ahead of major debt payments due in January and July 2026, estimated by Argentine President Javier Milei at around 8.5 billion dollars. ■