Argentina’s President Milei says $125 billion available to defend peso — The Rio Times
Argentine President Javier Milei said the government has $125 billion to counter a possible currency panic around the peso during the 2027 presidential elections. He said this on October 12 in an interview with Radio Mitre in Buenos Aires, The Rio Times reports.
According to Milei, he does not expect a currency panic, but is preparing for such a scenario. The Argentine president links the risk of pressure on the national currency to election periods, when depositors and investors may more actively exchange pesos for dollars.
Swap line with the United States
Milei included among the instruments a swap line of up to $20 billion between the Central Bank of Argentina and the U.S. Treasury Department. Argentina’s central bank announced this line on October 20, 2025. At the end of 2025, it used $2.5 billion under the line and repaid the funds in December of the same year.
Milei also mentioned the central bank’s dollar purchases, a swap with China, and currency futures. By his estimate, these four instruments together amount to $75 billion. In addition, the president referred to export foreign-currency earnings and financing already agreed for debt payments scheduled for next year.
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At the same time, the government has not published an official calculation that would confirm the total amount of $125 billion. Some of the resources named by Milei consist of swap lines, futures, and expected export earnings rather than funds already at the central bank’s disposal.
Position on the economy minister
In the interview, Milei also dismissed rumors about the possible resignation of Economy Minister Luis Caputo. He said their cooperation is close and their views on economic policy coincide. Milei said rumors about the minister’s resignation are being spread ahead of Argentina’s talks with the International Monetary Fund.
Economist Miguel Ángel Broda, quoted by Argentine media, estimated the potential volume of pesos that could be directed toward buying dollars in the event of a currency panic at approximately $183 billion.
