In the #News #Economy #Politics - US $20B Lifeline to Argentina Part of New Monroe Doctrine

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US $20B Lifeline to Argentina

The U.S. Treasury finalized a $20 billion currency swap deal with Argentina and began purchasing pesos on the open market, fulfilling President Trump's pledge to support the country's struggling economy. The move led to a sharp rise in Argentina’s peso, bonds, and stock market. Treasury Secretary Scott Bessent emphasized the action wasn’t a bailout and said it served strategic U.S. interests, including Argentina’s efforts to reduce Chinese influence and open up its critical mineral sector to U.S. firms.

The deal followed four days of talks involving Argentine officials and the IMF, which backed the U.S. move as aligned with Argentina’s economic reform agenda. Critics, including Senate Democrats, condemned the timing—amid a U.S. government shutdown—and accused Trump of prioritizing foreign aid over domestic needs. The support is seen as a political boost for President Milei ahead of Argentina’s October midterm elections, though public resistance to his austerity measures remains high.

“WTF,” says agriculture, the middle class, and many others. We're not necessarily here to agree — we're here to explain.

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