US EditionScott Bessent's $20 Billion Lifeline For Argentina A Bailout For 'His Hedge Fund Buddies,' Says Paul Krugman
The $20 billion aid package aims to stabilize Argentina's economy but faces criticism for benefiting hedge funds linked to U.S. Treasury officials, raising ethical and geopolitical concerns.
- On Thursday, Paul Krugman, Nobel Prize–winning economist, criticized U.S. taxpayer support for propping up the peso and said the Trump administration seeks to 'bail out Argentina's version of Elon Musk'.
- The Trump administration moved to bail out Argentina with a $20 billion currency-swap lifeline, announced Thursday by Treasury Secretary Scott Bessent, who called Argentina of 'systemic importance' and said 'It's not a bailout at all'.
- From a market perspective, the bailout has already had a tangible impact as Argentine dollar-denominated bonds and the peso have rebounded despite a few weeks ago electoral setback ahead of midterms.
- Major hedge funds tied to friends of Treasury Secretary Scott Bessent stand to benefit, drawing criticism from Democrats and farm industry groups while Sen. Chuck Grassley said soybean farmers are 'very upset' soon after the bailout.
- President Javier Milei is set to visit Washington next week, underscoring bilateral ties and a geopolitical aim to counter China, but currency experts warn the peso could soon come under pressure again.
15 Articles
15 Articles
During Trump’s shutdown, Argentina gets $20 billion while our service members get ... $0
While hundreds of thousands of American service members brace for missed paychecks, Donald Trump just handed $20 billion to Argentina during a government shutdown. And to top it off, his wealthy billionaire cronies are set to make a bundle off the investment.While Trump is rushing to give billions away to a foreign entity, he’s in no hurry to help soldiers. Late Friday, The Trump administration temporarily ruled out pursuing a short-term legisla…
Scott Bessent's $20 Billion Lifeline For Argentina A Bailout For 'His Hedge Fund Buddies,' Says Paul Krugman
Nobel Prize-winning economist, Paul Krugman has slammed U.S. Treasury Secretary Scott Bessent for the administration’s $20 billion aid package for Argentina, calling it a lifeline for his “hedge fund buddies,” rather than being a move that furthers in U.S. strategic interest. A Bailout For His ‘Hedge Fund Buddies’ In his newsletter on Thursday, Krugman said that the Trump administration “really hates giving foreign aid that serves any kind of hu…
Washington.- Donald Trump's government advanced Thursday in its rescue of Argentina, by making a direct purchase of pesos and finalizing the terms of a $20 billion aid, said Treasury Secretary Scott Bessent. The terms and conditions of the economic support package were not announced, but Bessent said the funds would come in the form of a currency exchange with Argentina's central bank. World big investors have been eagerly waiting for the ransom…
Bessent's big gamble on Argentina has a narrow road to pay off
For Scott Bessent’s $20 billion bet on Argentina to pay off, a lot of things have to go right — things that in the past, in Argentina, have tended to go wrong. The Treasury secretary announced a lifeline Thursday that’s designed to pull the...
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