#argentina-politics

#argentina-politics

The Argentine president, Javier Milei, who won a resounding midterm victory on Sunday, has received ample support from Donald Trump. Ahead of the congressional elections, Trump endorsed Milei and warned: If he loses, we are not going to be generous with Argentina. Washington extended a $20bn currency swap line to the government money aimed at stabilising financial volatility that would have undermined Milei's chances. The US treasury even intervened directly, buying more than a billion dollars of pesos to slow the currency's freefall

Javier Milei threw himself into Donald Trump's arms and was welcomed. Last week, the U.S. president offered Argentina an unprecedented $20 billion rescue package, in addition to an open-ended line of credit and even the possibility that the United States might purchase its debt bonds. True to form, Trump did not hold back: he said Milei was a truly fantastic and powerful leader and, perhaps misinformed about the Argentine electoral calendar, even offered him his complete and total endorsement for re-election as president.