"The US president has said a $20bn currency swap with Argentina depended on the success of Javier Milei's coalition in the midterm race. United States President Donald Trump has pledged to boost Argentina's economy with a $20bn currency swap but only if the South American country's right-wing president prevails in upcoming elections. That president, the self-described anarcho-capitalist Javier Milei, was in Washington, DC, on Tuesday for his latest visit to the White House."
"He explained to reporters that the economic safety net that the US was giving to Argentina was his way of helping a great philosophy take over a great country. You're going to win the election, Trump told Milei. We're going to endorse you. I'm going to endorse you today, fully endorse you. People in Argentina like me. A lot of people like me."
"Trump appeared eager to help Milei overcome his drooping poll numbers on Tuesday, as he hosted the Argentinian leader in the White House's cabinet room. But the conditional nature of the Argentinian bailout raised questions about Trump's commitment to propping up Argentina's ailing economy. Milei's surprise victory in the 2023 presidential election was widely seen as a backlash against the previous left-wing government of Alberto Fernandez, under whose leadership inflation spiralled to more than 200 percent."
Donald Trump offered a $20bn currency swap to Argentina contingent on Javier Milei's coalition winning the upcoming midterm elections. Milei, a self-described anarcho-capitalist, visited Washington and maintains a close public bond with Trump. Trump publicly endorsed Milei and framed US financial support as backing Milei's philosophy. Milei's coalition faces scandals and sagging poll numbers ahead of the October 26 midterms. The conditional nature of the bailout raised questions about US commitment to Argentina's ailing economy. Milei's 2023 presidential win followed a backlash against the previous left-wing government amid inflation above 200%.
Read at www.aljazeera.com
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