"United States President Donald Trump's administration has offered to step in to support Argentina's economy amid severe volatility in the country's financial markets. Washington stands ready to do what is needed to help stabilise the Latin American country's economy following a large-scale selloff of its assets, US Treasury Secretary Scott Bessent said on Monday. Options for assisting Buenos Aires under consideration include central bank currency swaps, direct currency purchases, and purchases of US dollar-denominated government debt, Bessent said."
"Opportunities for private investment remain expansive, and Argentina will be Great Again, Bessent said on X, describing Buenos Aires as a systemically important US ally. The Argentinian peso, stocks and bonds surged following Bessent's comments. Milei, who scored an upset election win in 2023 by promising to tame runaway inflation and decades of economic decline, thanked the Trump administration for its unconditional support."
Washington offered to step in to support Argentina's economy after severe volatility and a large-scale selloff of Argentine assets. US Treasury Secretary Scott Bessent said considered options include central bank currency swaps, direct currency purchases, and purchases of US dollar-denominated Argentine government debt. Further details will be announced after talks involving President Trump, Bessent and Argentinian President Javier Milei in New York. Bessent described Buenos Aires as a systemically important US ally and highlighted private investment opportunities. Argentina's peso, stocks and bonds rose after the comments. The selloff followed Milei's coalition's poor local election performance ahead of nationwide midterms.
Read at www.aljazeera.com
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