Bailout by Trump attempts to stabilize shaky economy under Javier Milei as he faces mounting midterms pressure
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Argentina has formalized a currency swap agreement with the United States for up to $20bn aimed “at contributing to Argentina’s economic stability”, the South American country’s central bank said.
The deal is part of huge financial support from the administration of Donald Trump, a strong backer of the Argentinian president, Javier Milei, who is under pressure ahead of midterm elections on 26 October.
The peso has been fluctuating wildly ahead of the vote, disrupting the savings and spending plans of Argentinians who fear it could lose even more value in the coming weeks.
