Trump Promises Support for Argentina Amid Financial Turmoil
In a meeting at the UN General Assembly, President Trump assured support for Argentina, dismissing the need for a financial bailout. The U.S. plans to stabilize Argentina's markets with potential financial measures. The World Bank is accelerating its investment plan to aid Argentina's growth and reforms.
At the UN General Assembly on Tuesday, President Donald Trump pledged U.S. support for Argentina, stating no financial bailout was necessary. This assurance comes as the World Bank announced it would expedite $4 billion in planned investments to bolster Argentina's economy.
Alongside Argentine President Javier Milei, Trump expressed confidence in Argentina's financial recovery, mentioning Treasury Secretary Scott Bessent's efforts to provide essential financial interventions. Bessent highlighted potential U.S. strategy, including using the Exchange Stabilization Fund and opening currency swap lines.
The U.S. commitment to backing Milei, a right-wing ally, has boosted Argentina's financial markets, evidenced by a rally in stocks and the strengthening of the peso. However, U.S. Senator Elizabeth Warren criticized the potential use of taxpayer funds to support a foreign currency.
(With inputs from agencies.)
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