Trump’s $20B Argentina Lifeline Shocks Markets – Will It Save Milei?
The Trump Treasury announced a $20 billion support package for Argentina on Oct. 9, including a currency swap and peso purchases, to stabilize its currency. Argentine bonds and stocks surged, with the Merval index up over 5% and the peso rebounding 0.8%. The move drew criticism in Washington, where lawmakers introduced a bill to block US funds for foreign rescues. Treasury Secretary Scott Bessent said the plan advances US interests and will not lose money.