Donald Trump says US support for Argentina is ‘gone’ if Javier Milei suffers election losses
President suggests $20bn swap line is contingent on libertarian’s victory in midterm elections
President suggests $20bn swap line is contingent on libertarian’s victory in midterm elections

The US administration is backing an ally’s misguided exchange rate policy

Libertarian president’s tight grip on inflation cost him dollars and slowed growth

US support has helped calm markets, but Argentina’s president is politically weakened as his party faces midterm elections

Currency gains sparked by estimated $400mn of US purchases melt away ahead of election for president Javier Milei

Size of US bailout and support for agricultural rival begin to rankle the president’s political allies

Treasury secretary Scott Bessent is taking a big gamble with his $20bn swap line to prop up a Trump ally