Voz media US Voz.us
Apple store Voz-media Play store Voz Media

Bessent: 'The Treasury stands ready to do what is needed within its mandate to support Argentina'

Secretary Scott Bessent gave a show of support for the southern country on the eve of a top-level meeting with its president, Javier Milei.

File image of Milei and Bessent in Buenos Aires

File image of Milei and Bessent in Buenos AiresARGENTINIAN PRESIDENCY/AFP.

Santiago Ospital
Published by
Santiago Ospital

The Treasury secretary, Scott Bessent, backed the economic course taken by Argentine President Javier Milei, declaring himself "ready" to do "what is needed" to help the South American nation.

"Argentina is a systemically important U.S. ally in Latin America, and the Treasury stands ready to do what is needed within its mandate to support Argentina," the official wrote on X. "All options for stabilization are on the table."

He then specified that those "options" include "swap lines, direct currency purchases, and purchases of U.S. dollar-denominated government debt from the Treasury’s Exchange Stabilization Fund."

In explicit support of Chairman Milei, he assured that the Trump Administration remained "confident" that the libertarian's "fiscal discipline and pro-growth reforms" were necessary to "break Argentina’s long history of decline."

He also confirmed that Donald Trump will meet with the Argentine leader on Tuesday in New York, on the sidelines of the United Nations General Assembly.

The latter also took to social networks to thank Bessent and Trump for their shows of support, describing it as "unconditional." "Those of us who stand for the ideas of freedom must work together for the well-being of our peoples. See you Tuesday in NY," he added before closing with his classic catchphrase: "VIVA LA LIBERTAD CARAJO...!!!!"

His Minister of Economy, Luis Toto Caputo, also expressed gratitude on X for the words of the US Secretary:

Hours earlier, the Argentine government had announced the temporary elimination of taxes on grain exports, with the aim of reinforcing its reserves. Milei has been facing for several weeks a foreign exchange run accentuated after his electoral defeat in the legislative elections in the province of Buenos Aires at the beginning of the month.

After Bessent's publication, sovereign bonds and stocks of the southern country showed strong increases. In addition, the country risk dropped more than 300 points.

RECOMMENDATION

tracking