Jamie Dimon says $20B bank loan for Argentina ‘may not be necessary’ - Reuters

[JPMorgan Chase CEO Jamie Dimon Speaks At The Institute Of International Finance In Washington, D.C.]
Kevin Dietsch

JPMorgan Chase (JPM [https://seekingalpha.com/symbol/JPM]) CEO Jamie Dimon said a proposed $20 billion private-sector financing package for Argentina “may not be necessary,” signaling growing confidence in the country’s market rebound under President Javier Milei.

Speaking from Detroit on Wednesday, Dimon told _Reuters_ that JPMorgan stands ready to assist Argentina if needed, noting the bank’s history of providing special financing to the country. “If they need that, we’re all ears,” he said.

The comments come as Wall Street banks, working with U.S. Treasury Secretary Scott Bessent, had coordinated a Trump administration rescue plan to support Argentina ahead of last month’s congressional midterm elections. After Milei’s decisive victory, Bessent suggested that markets, rather than U.S. taxpayers, could meet Argentina’s financing needs in 2026.

Dimon recently met with Milei in Buenos Aires during a visit to JPMorgan’s long-standing local operations, underscoring the bank’s continued interest in Argentina’s economic recovery.

The Treasury’s pre-election support for Argentina included a $20 billion currency swap [https://seekingalpha.com/news/4503202-us-finalizes-20b-currency-swap-framework-with-argentina-directly-buys-pesos] line and market interventions to stabilize the peso. Milei’s strong electoral performance — winning [https://seekingalpha.com/news/4508498-argentina-stocks-and-us-listed-etfs-rise-sharply-as-mileis-party-wins-big-in-midterm-elections] about 41% of the vote and doubling his party’s congressional presence — triggered a bond rally and renewed investor optimism.

Milei is now on a U.S. visit, with planned appearances at a business forum in Miami, an event at Trump’s Palm Beach resort, and investor meetings in New York later this week.

Related tickers: (ARGT [https://seekingalpha.com/symbol/ARGT]) (ARS:USD [https://seekingalpha.com/symbol/ARS:USD]) (MERVAL [https://seekingalpha.com/symbol/MERVAL]).

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