US EditionJPMorgan CEO says Argentina may not need bank loan, Fed will likely remain independent
JPMorgan CEO Jamie Dimon says the $20 billion private-sector financing for Argentina may be unnecessary as markets rally after President Milei's midterm election gains.
- On Wednesday, JPMorgan CEO Jamie Dimon said $20 billion in potential private-sector financing for Argentina may not be necessary, and JPMorgan remains ready to help Argentine President Javier Milei if needed.
- After a key provincial loss, Wall Street banks coordinated with Bessent, Treasury official, on a rescue package that included a US$20-billion currency swap line before last month’s midterm election.
- With about 41 percent of the vote, Milei's party doubled its presence in Congress, triggering market gains, while Dimon met Milei in Buenos Aires two weeks ago amid political shifts.
- Taken together, Dimon's comments and Treasury statements suggest Bessent's lifeline was a bridge to the election, with markets, not US taxpayers, expected to fulfill Argentina's financing needs next year.
- On Thursday and Friday, Jamie Dimon will speak at a business forum in Miami, attend an event at President Donald Trump’s resort in Palm Beach, then meet investors in New York.
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Exclusive: JPMorgan CEO says Argentina may not need bank loan, Fed will likely remain independent
Argentina may not ultimately need a bank loan, JPMorgan Chase CEO Jamie Dimon said on Wednesday, adding Argentine President Javier Milei is doing a good job overhauling the country's troubled economy.
The current presence of JP Morgan in Argentina re-updates a historic network of economic subordination that goes back to Plan Brady, when the country gave legal, financial and political control to the interests of transnational capital. Read more
The recent statement by JP Morgan’s CEO, Jamie Dimon, revived the debate on the Argentine economic direction and its insertion into international markets. In dialogue with Thinking the News, economic engineer and analyst Miguel Ponce analyzed the background of these statements and warned that “Dimon’s words are not minor: he controls much of the global financial structure and has direct links with the Argentine Ministry of Economy and Foreign Mi…
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