By David Lawder

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent on Sunday said the U.S. will not lose any taxpayer funds in financial support measures for Argentina, saying the U.S. was backing a Latin American ally as it holds a key election.

The United States earlier this month purchased Argentine pesos and finalized a $20 billion currency swap framework with Argentina’s central bank after a meeting between the two countries’ top finance officials in Washington.

“There will be no taxpayer losses. This is a swap line. This is not a bailout, and it is from the Exchange Stabilization Fund, which I control at Treasury,” Bessent told NBC’s “Meet the Press” program. “It has never registered a loss. It is not going to register a loss.”

US TREASURY HAS BOUGHT PESOS ON OPEN MARKET

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