US Treasury chief says 'fully prepared' to support Argentina
WASHINGTON
U.S. Treasury Secretary Scott Bessent said that his agency was "fully prepared to do what is necessary" in support of Argentina, a week after revealing both sides were in talks over an economic aid program.
Bessent said on social media that he had a "very positive call" with Argentina's Economy Minister Luis Caputo on Oct. 1, adding that further talks were planned in Washington.
"In the coming days I look forward to Minister Caputo's team coming to D.C. to meaningfully advance our discussions in-person regarding options for delivering financial support," Bessent wrote on X.
Last week, Bessent said the Treasury Department was negotiating with Argentinian officials on "a $20 billion swap line," buoying the South American nation's markets and embattled leader Javier Milei.
The right-wing Milei, a close ally of U.S. President Donald Trump, had been struggling to ease market jitters ahead of midterm elections that could determine the future of his austerity agenda.
Also on Thursday, Bessent told CNBC in an interview that Washington was "maintaining a U.S. strategic interest in the Western Hemisphere" when it came to helping Argentina.
"Many of the governments down there moved from far-left to center-right. We did not support them, and then they took a hard lurch to the left," Bessent said.
"And now, Argentina is a beacon down there, and there's a chance now for many other countries to come along, Bolivia, Ecuador, I think, Colombia, after the elections," he added.
"So, what you don't want are these failed economic models,” Bessent said.
