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#SquareCreatorCertificationOpens BANKS TO TRUMP: WE'RE NOT LENDING ARGENTINA $20B WITHOUT GUARANTEES
America's biggest banks are hesitant to hand Argentina $20 billion without some serious insurance first.
JPMorgan, Bank of America, Goldman Sachs and Citi are all waiting for the Treasury Department to clarify what collateral Argentina can offer or whether Washington will guarantee the loan itself.
The hesitation makes sense: Argentina has defaulted on its debt 9 times in history, including 3 times since 2000, and has been locked out of international lending markets for years.
The bank loan is part of Trump's $40 billion package to support Milei's government, which already secured a separate $20 billion currency swap.
Without collateral, Wall Street won't play ball.