US Treasury Secretary Bessent says Gulf, Asian allies request swap lines
Al Jazeera·4h ago·Neutral
What Happened
US Treasury Secretary Scott Bessent stated that Gulf and Asian allies have requested currency swap lines to manage economic fallout from geopolitical tensions. Bessent told senators that swap facilities would stabilize financial markets and dollar funding. The US previously provided Argentina a $20 billion swap during economic turmoil. Such arrangements help prevent disorderly asset sales and maintain market stability.
Key Entities
Scott BessentUS TreasuryUAEGulf regionAsian alliesDonald TrumpArgentinaCurrency swap linesFederal Reserve