US pledges support for Argentine economy

The US on Monday pledged support for Argentina as it grapples with severe market volatility, offering a lifeline to President Javier Milei.

Washington is considering “large and forceful actions,” including purchasing Argentina’s currency or sovereign debt, the US Treasury secretary said, a day before President Donald Trump is set to meet with Milei at the UN General Assembly. Argentine investors cheered the announcement, which came after the peso and stocks had tumbled in recent weeks following Milei’s setback in local elections.

Washington’s assistance shows that Milei’s “unconditional support for Donald Trump is beginning to bear fruit,” El País wrote, and underscores how Trump views him as an important strategic ally in Latin America.