Overview

• Treasury Secretary Scott Bessent said the United States is ready to extend roughly $20 billion to stabilize Argentina’s finances.
• President Trump publicly praised Javier Milei at the UN and said Bessent is working to secure favorable debt terms, even as he claimed Argentina “doesn’t need a rescue.”
• The structure, legal basis and conditions of any package remain under negotiation, with analysts calling the approach unusual for lacking typical loan requirements.
• U.S. farm groups and Senate Democrats criticized the proposal, with the American Soybean Association warning it disadvantages producers and Sen. Elizabeth Warren citing taxpayer risk.
• Argentina’s peso has weakened and the central bank spent more than $1 billion last week to prop it up under an IMF program, with elections next month heightening the stakes.