An American economic support program for Argentina

US Treasury Secretary Scott Besent announced that Washington has prepared an economic support program for Argentina worth $20 billion. This support comes at a time when Argentine President Javier Milley, a close ally of US President Donald Trump, is suffering from turmoil in the financial market after his defeat in the Buenos Aires provincial elections.

“Argentina is facing a period of severe liquidity shortages,” Picent wrote on social media platforms, noting that Washington is in a good position to act quickly.

He added: “For this purpose, we bought the peso directly,” adding: “We completed a currency swap framework worth $20 billion with the Central Bank of Argentina.”