The World Bank said it would commit as much as $4 billion to support Argentina’s anti-austerity agenda, offering a much-needed reprieve to its economy following weeks of turmoil.
The lender said investments would focus on key sectors including mining and energy. The peso jumped by around 5% following the announcement. The news comes as US President Donald Trump said he would back Buenos Aires’ free-market overhaul, though few details were provided.
Argentina’s stock market and the peso plummeted after President Javier Milei’s party lost a key regional election this month, a vote seen as a litmus test ahead of October’s crucial legislative elections, which could determine the future of his presidency.