The U.S. Treasury authorized a $20 billion credit line to Argentina through the Exchange Stabilization Fund (ESF), a powerful yet obscure instrument created during the Great Depression. Unlike traditional bailouts, this action bypassed Congress, echoing a similar intervention in Mexico in 1995. That effort succeeded: Mexico repaid the loan quickly, and the U.S. turned a profit. Now, the same mechanism is being tested in Argentina, where economic instability, low reserves, and failed IMF benchmarks raise concerns. While the ESF allows rapid response—such as buying pesos to shore up the currency—experts question whether $20 billion is enough and whether Argentina can enact the painful reforms needed for recovery. Without strict conditions or collateral, success hinges on fiscal discipline, austerity, and ending artificial currency supports. The outcome could redefine the role and limits of the ESF in future global crises.