"We are working on a $20bn facility that would be adjacent to our swap line, of private banks and sovereign wealth funds that I think would be more aimed at the debt market, he told reporters on Wednesday in Washington, DC."
"So that would be a total of 40 billion for Argentina, he said, in remarks that triggered a rebound on Argentinian stocks."
"If he does win, we're going to be very helpful, Trump said. And if he doesn't win, we're not going to waste our time, because you have somebody whose philosophy has no chance of making Argentina great again."
The United States Treasury is arranging a $20bn private-sector facility, to sit alongside a $20bn currency swap, which together would provide about $40bn in support to Argentina. The facility would involve private banks and sovereign wealth funds and is expected to target Argentina's debt market and upcoming payments. The announcement caused Argentine stocks to rebound. The support comes as President Javier Milei, a right-wing populist who implemented sweeping budget cuts in 2023, faces challenging midterm elections. US President Donald Trump hosted Milei at the White House and linked continued US economic assistance to Milei's electoral success.
Read at www.aljazeera.com
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