Overview

• The U.S. Treasury unveiled a $20 billion support facility and began buying Argentine pesos, which Scott Bessent justified by saying they were “very cheap.”
• Reports of Trump-backed dollar sales of roughly $250 million helped halt a run on the peso and pull the exchange rate back within official bands.
• Milei is scheduled to meet President Trump in Washington on Tuesday, with local reports suggesting a further announcement could follow.
• The rescue is facing pushback from U.S. Democrats, including Elizabeth Warren, even as the White House frames the move as market stabilization and a bid to limit China’s influence.
• After José Luis Espert exited over payments from businessman Federico Machado, the electoral court placed Diego Santilli atop the Buenos Aires list, while analysts warn any delay or curbs to U.S. aid could quickly reignite currency stress and complicate IMF targets.