Treasury Secretary Scott Bessent said Monday that the United States is preparing measures to support Argentina after weeks of financial turmoil. He confirmed that Donald Trump will meet Argentine President Javier Milei in New York on Tuesday to discuss stabilization plans.
Bessent described Argentina as “systemically important” in Latin America and said U.S. options include swap lines, direct currency purchases, and using Treasury’s Exchange Stabilization Fund to buy dollar-denominated Argentine debt. “Opportunities for private investment remain expansive, and Argentina will be Great Again,” he posted.
Milei, who took office on a platform of deep libertarian reforms, has slashed spending, lifted rent controls, and pursued privatization. While applauded by some, Argentina’s markets have struggled in recent months. The MERVAL stock index dropped 30% this year, though it gained over 5% Monday after news of potential U.S. aid.
Argentina’s central bank also sold $1.1 billion last week to defend the peso. The country already has a $20 billion bailout program with the International Monetary Fund, but U.S. support would go beyond that framework.
Sources
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
