By Nandita Bose
WASHINGTON (Reuters) -President Donald Trump will host Argentina’s president, Javier Milei, at the White House on Tuesday, just days after the U.S. agreed to provide a major financial lifeline to the South American nation.
Earlier this month, Treasury Secretary Scott Bessent announced U.S. support for a $20-billion currency swap with Argentina’s central bank, exchanging stable U.S. dollars for volatile pesos. Bessent is expected to attend the meeting, according to a source familiar with the matter.
The economic lifeline for Argentina marks an unusual move for the U.S., particularly under an administration that has largely eschewed major foreign interventions.
The White House has framed the deal as a strategic effort to stabilize a key regional ally. But it has drawn criticism at home.
Many Democratic lawmakers have accused Trump of prioritizing foreign bailouts and investor protections while the U.S. government remains shut down. American farmers have also voiced frustration, noting that China has shifted soybean purchases from U.S. producers to Argentine growers this year.
While details of the agreement remain unclear, the bailout could offer Milei a much-needed political boost as he works to stave off a deepening economic crisis and shore up his party’s support.
He suffered a major setback last month when his party lost a key provincial election and now faces a critical midterm vote later this month.
The assistance also underscores the extent to which the Trump administration is willing to support a political ally who has cultivated strong ties with the president and American conservatives in recent years.
Trump has described Milei as his “favorite president” and the Argentine president was one of two world leaders onstage during Trump’s inauguration.
(Reporting by Nandita Bose in Washington; Additional reporting by Andrea Shalal and Leila Miller; Editing by Ross Colvin and Alistair Bell)
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