Core Viewpoint - The U.S. Treasury has directly purchased Argentine pesos and established a $20 billion currency swap agreement with the Argentine central bank, leading to a significant strengthening of the Argentine peso and U.S. dollar bonds, indicating a recovery in market sentiment [1] Group 1: U.S. Treasury Actions - The U.S. Treasury is prepared to take all necessary measures to maintain market stability, as stated by Treasury Secretary Yellen [1] - Following the announcement, the price of Argentine dollar bonds maturing in 2035 surged by 4.6 cents to 60.58 cents [1] - The Argentine peso appreciated by 0.8%, closing at 1 USD to 1425 ARS, reversing a previous downward trend [1] Group 2: Meetings and Agreements - The announcement coincided with the conclusion of a four-day meeting between U.S. Treasury Secretary Yellen and Argentine Finance Minister Luis Caputo, which included officials from the International Monetary Fund (IMF) [1] - In April, the IMF approved a new $20 billion loan program for Argentina, highlighting ongoing international support [1] - Caputo reported close coordination with the IMF on reform commitments, emphasizing that Argentina's current policies are "overall sound" underpinned by fiscal discipline [1] Group 3: Economic Context - The U.S. Treasury noted that Argentina is facing "severe liquidity tightening," with international support for prudent fiscal strategies [1] - The statement reinforced that Argentina's exchange rate framework remains applicable [1]

Core Viewpoint - Uzbekistan's government is implementing measures to ensure that annual increases in wages, pensions, and allowances exceed the inflation rate, aiming to enhance residents' real income and social security levels [1] Group 1: Economic Measures - The "Uzbekistan 2026-2028 Fiscal Strategy" outlines a series of measures to raise wages, pensions, and allowances above the inflation rate each year [1] - The Ministry of Economy and Finance plans to tighten social tax benefits to supplement the pension fund [1] Group 2: Taxation and Budget Allocations - Service industry taxpayers will continue to pay a reduced social tax rate of 1% until 2028, applicable only to salaries exceeding 3 million soums (approximately 235 USD) and for individuals under 30 years of age [1] - It is projected that the national budget will allocate over 20 trillion soums (15.8 billion USD) to the pension fund by 2025, increasing to 26 trillion soums (20.5 billion USD) by 2028 [1]