Why is the US supporting Argentina’s currency?
The Treasury’s intervention holds risks for Washington
The Treasury’s intervention holds risks for Washington

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

Facility builds on previously announced $20bn swap line as Washington seeks to boost libertarian ally Javier Milei

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

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

Emerging market and distressed debt specialists post big returns after Washington’s support and electoral win boost Buenos Aires