In a contentious attempt to ease a currency crisis plaguing the South American nation and its president, Trump friend Javier Milei, the United States has bought Argentine pesos. On social media, Treasury Secretary Scott Bessent announced the purchase and stated that the United States had finalized the terms of a proposed financial bailout for the country worth $20 billion (£15 billion).
The US Treasury is ready, immediately, to take any exceptional measures are warranted, he stated. The statement increased the value of the peso and Argentine debt on the financial markets. Still, it also sparked a new discussion in the US about the decision to provide financial support to Argentina during a period of domestic budget cuts.
Democratic Senator Elizabeth Warren responded to the statement on social media, citing a major issue fueling a standoff over the US government shutdown: “Donald Trump should help Americans afford health care instead of using our dollars to buy Argentine pesos.”
Ahead of the October 26 national midterm elections, Argentina has been experiencing growing financial difficulties. Concerns are rising over whether voters will still support Milei’s cost-cutting, free-market reform platform following recent defeats in a provincial election.
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