Trump to Welcome Argentina's President Milei as US Extends $20 Billion Lifeline
The $20 billion currency swap aims to stabilize Argentina's economy amid rising unemployment and political challenges ahead of critical midterm elections, U.S. officials said.
- On Tuesday, Javier Milei, President of Argentina, held a two-hour meeting and working lunch at the White House with Donald Trump, President of the United States, after agreeing to a $20 billion bailout.
- President Javier Milei came under pressure after recent electoral setbacks, seeking U.S. backing to delay peso devaluation until after the October 26, 2025 midterm elections.
- Announcing purchases, the U.S. Treasury moved to ease pressure on the Argentine peso, with Scott Bessent, U.S. Treasury Secretary, pledging exceptional measures that sparked a rally in Argentine bonds and stocks.
- Investors reacted by selling pesos and dumping Argentine bonds amid default fears, while Donald Trump warned the U.S. would "not be generous with Argentina" if Javier Milei lost.
- Democratic lawmakers have criticized the timing and priorities of the bailout during the U.S. government shutdown, questioning the administration’s rare intervention in Latin American currency markets.
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261 Articles
Al Arabiya
einnews.comTrump hails Argentina's Milei, defends $20 billion bailout
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