Mon, 22 Sep 2025

Mon, 22 Sep 2025 US ready to help with Argentina's fiscal turmoil

US Treasury Secretary Scott Bessent offers a pledge of support for Donald Trump ally Javier Milei.

* US Treasury Secretary Scott Bessent says the US is "ready to do what is needed" to help stabilize Argentina's financial turmoil.
* All options for stabilization are on the table, including purchasing Argentine pesos and dollar-denominated government debt.
* The value of the peso has been plunging, while investors dump Argentine stocks and bonds, raising doubts about Javier Milei's cost-cutting, free-market agenda.
* Bessent says the US is considering intervening in Argentina's current fiscal turmoil, with more details to be announced after President Trump meets with Milei on Tuesday.
* The US government has confidence in Milei's support for fiscal discipline and pro-growth reforms, which are necessary to break Argentina's long history of decline.
* Milei expressed "enormous gratitude" for the US's pledge of support, which helped lift Argentine stocks and prices for dollar-denominated debt.
* Argentina will host national mid-term elections in October, which are expected to serve as a referendum on Milei's policies.
* The US provided key backing to help Argentina secure a new $20bn four-year loan from the IMF in April.
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