“If he loses, we are not going to be generous with Argentina,“ Trump said as firebrand Milei visited the White House to seek the Republican’s political and economic support.
Trump’s administration has already promised $20 billion to prop up Argentina’s struggling economy but his backing has failed to calm the markets -- or help Milei’s polling ahead of midterms on October 26.
Hailing Milei as a “great leader,“ Trump said he would “fully endorse” his ideological ally in the elections.
Trump has however faced questions about how a big bailout for Argentina tallies with that same America First policy.
Acute illiquidity’
Trump has repeatedly voiced political support for Milei, while backing it up with a promise of huge economic aid, but the markets remain spooked by Argentina.
That prompted Milei’s allies in Washington to step in with a financial bailout.
“The US Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets.”
It also marked a rare instance of direct US intervention in Latin American currency markets, underscoring Washington’s strategic interest in Milei’s success.
“They know we are a true ally,“ Milei said, referring to Argentina’s alignment with US and Israeli interests.
Before Milei took power, Argentina -- a major lithium producer -- had been deepening ties with China.
On Sunday, Economy Minister Luis Caputo ruled out immediate plans to dollarize the economy or alter the floating exchange rate band, amid speculation of post-election changes. - AFP
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