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Milei to Meet Trump in New York on Tuesday During Currency Rout

Buenos Aires seeks financing to cover near-term debt maturities with reserves under strain.

Overview

  • Presidential spokesman Manuel Adorni said Donald Trump and Javier Milei will hold a bilateral meeting in New York on Tuesday.
  • The central bank sold about US$1.1 billion over three sessions — US$53 million, US$379 million and US$678 million — to defend the IMF-agreed exchange-rate band.
  • The peso has dropped roughly 12.7% in September and the dollar rate at Banco Nación breached the top of the official band.
  • Milei said talks to secure funding to cover about US$9.5 billion of debt falling due next year are well advanced, though no U.S. Treasury support has been confirmed.
  • Economy chief Luis Caputo pledged to keep selling dollars within the band as analysts flag limited net reserves — with some estimates below US$20 billion — and discuss options that include tighter controls, a devaluation or a new tax on dollar purchases, against a backdrop of recent electoral losses and October 26 midterms.