Argentina Acquires US$808 Million in SDRs from US Treasury for IMF Payment

Argentina Secures SDRs for IMF Obligation

Argentina has reportedly acquired US$808 million in Special Drawing Rights (SDRs) from the U.S. Treasury. This acquisition was made to cover an interest payment due to the International Monetary Fund (IMF). The payment, initially scheduled for February 1, 2026, was processed on the next business day as the original due date fell on a Sunday.

Context of the Transaction

The purchase of SDRs is described as a strategic move by Argentina to manage its substantial financial commitments to the IMF. Special Drawing Rights are international reserve assets created by the IMF, serving as a supplementary foreign exchange reserve for member countries.

Unnamed government officials indicated that this transaction was a standard balance-of-payments operation. It was not a new activation of an existing US$20 billion swap line that the U.S. government had extended to Argentina last year.

U.S. Backing and Official Responses

The U.S. Treasury's involvement in providing the SDRs underscores continued backing for Argentina's financial stability. U.S. Treasury Secretary Scott Bessent has been noted for his role in assisting the administration of President Javier Milei with financial operations.

While the transaction details have not been made public, official sources suggest Argentina obtained the SDRs from the U.S. Exchange Stabilization Fund. Argentina's Economy Ministry did not immediately respond to requests for comment, and the Central Bank declined to comment on the matter.

Argentina's Ongoing IMF Relationship

Argentina continues to be the largest debtor to the IMF among member nations. This latest payment highlights the country's persistent efforts to meet its obligations and maintain its relationship with international financial institutions amidst ongoing economic challenges.