The United States finalized a $20 billion lifeline for Argentina that will benefit Treasury Secretary Scott Bessent’s allies.
The Trump administration moved forward on Thursday with its bailout of Argentina, making a direct purchase of pesos and finalizing terms of a $20 billion lifeline, Treasury Secretary Scott Bessent said.
The terms and conditions of the economic support package were not announced, but Mr. Bessent said the funds would come in the form of a currency swap with Argentina’s central bank. Big global investors have been anxiously awaiting the details of the bailout, which critics have said will benefit wealthy fund managers at a time when American farmers are struggling and the U.S. government is shut down.
