Photo: nytimes.com
US finalizes $20 bn economic lifeline for Argentina, buys pesos
The US has finalized a $20 billion economic support program for Argentina, purchasing Argentine pesos to stabilize the nation’s struggling finances amidst economic turmoil.
- US Treasury Secretary Scott Bessent announced the purchase of Argentine pesos as part of a broader $20 billion economic support program aimed at stabilizing Argentinas faltering economy.
- The initiative comes as Argentina faces severe financial challenges under the leadership of right-wing President Javier Milei, who is known for his close ties to Donald Trump.
- The economic lifeline from the US is intended to bolster Argentinas financial system and restore investor confidence amid soaring inflation and currency devaluation.
Why It Matters
This support from the US highlights international efforts to stabilize economies in crisis and reflects the geopolitical ties between the US and Argentina under President Javier Milei. The move also underscores the importance of currency stabilization in maintaining economic stability.