Bessent says new Argentina debt facility would bring US support to $40 billion "The U.S. again purchased Argentine pesos in the open market on Wednesday, Treasury Secretary Scott Bessent told reporters, adding that the department was working with banks and investment funds to create a $20 billion facility to invest in the South American country's sovereign debt.
Bessent said during a press conference that the facility would sit alongside a new $20 billion U.S. currency swap line for Argentina, providing a total of $40 billion in support for Latin America's third-largest economy." Not the $20 billion Trump stated and the $20 billion only mentioned on FOX Meanwhile Argentinians are selling off the peso as they bet against the Gringo currency rescue.
In other news Argentina dropped an export tax on soybeans in September resulting in more than 15 orders for soybeans from China completely replacing US orders.“These deals were done last night after Argentina’s decision on export tax,” said one of the traders, declining to be identified as they were not authorised to speak with media. “It clearly means that China doesn’t need U.S. beans.”
Trump clearly has a kindred friend in "Argentina’s president Javier Milei is facing his administration’s worst alleged corruption scandal – involving none other than his hugely influential sister, Karina – less than two months before key legislative elections.
For more than a week, news in the country has been dominated by audio recordings in which a former government official is heard discussing the alleged payment of bribes linked to the purchase of medicines for people with disabilities."
Bribery and corruption. What could appeal to Trump and his supporters any more?