"It is America first because we are supporting a U.S. ally. There will be no taxpayer losses,"
"has never lost money. It will not lose money this time."
The U.S. provided a $20 billion currency swap to Argentina’s central bank and pledged to organize another $20 billion from the private sector to support President Javier Milei. Treasury also bought Argentine pesos in open markets, yet the peso fell about 10% in the last month. Milei faces crucial midterm elections that function as a referendum on his inflation-focused reforms, and his political grip has weakened, raising questions about economic stability. The rescue package has low domestic support—20% approval versus 56% disapproval—and faces opposition from farm and ranching interests over trade impacts.
Read at Axios
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