U.S. Throws Weight Behind Argentina: Treasury's Forceful Support Strategy
U.S. Treasury Secretary Scott Bessent announced potential strong support for stabilizing Argentina, including financial exchanges and currency purchases, as confidence in Argentine President Milei's policies remains. Support contingent on Argentina's IMF commitments, with no new conditions. U.S. awaits outcomes of meetings with Milei and international markets to finalize actions.
U.S. Treasury Secretary Scott Bessent indicated on Monday that the U.S. is considering multiple robust measures to stabilize Argentina's tumultuous economy, emphasizing the Trump administration's strong support for Argentine President Javier Milei. Speaking ahead of a critical meeting in New York, Bessent stressed potential U.S. interventions, such as swap lines and direct currency purchases.
Bessent assured that any action would be deliberate, pending discussions with President Trump and Milei during the United Nations General Assembly. The Treasury Secretary expressed optimism about Argentina's economic reform journey, which the Trump administration believes aligns with a regional shift toward the right.
No new conditions will accompany U.S. support, contingent solely on Argentina's existing agreements with the International Monetary Fund. Financial markets have reacted skittishly, with fluctuating investor confidence reflecting broader political uncertainties, impacting Argentina's economic stability.
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