Argentina's President Javier Milei arrived in Washington to discuss an IMF deal and strengthen ties with Donald Trump's administration, amidst a fallout from the $LIBRA cryptocurrency collapse.
Javier Milei's Visit to the US
Javier Milei's visit to Washington was primarily focused on economic policy discussions. He is set to meet Elon Musk and speak at CPAC. However, amidst the $LIBRA controversy, his team is working to shift the conversation back to his economic agenda.
$LIBRA Token Collapse and its Consequences
The scandal erupted when Javier Milei endorsed the $LIBRA cryptocurrency, causing its value to surge and then crash, wiping out $4.6 billion. Despite deleting his post, the damage had been done. Accusations of corruption followed, but Javier denied receiving any compensation for his endorsement.
Market Reaction and IMF Talks
The $LIBRA fallout hit Argentina's economy hard: the stock index plummeted by 6% and the peso took another hit. While Javier is working to secure an IMF deal, disagreements persist on Argentina's currency policy. Meanwhile, relations with the US could strain over tariff discussions.
Javier Milei's visit to the US coincided with significant political and financial challenges surrounding $LIBRA. Despite domestic tensions, his meeting with Elon Musk and CPAC appearance may bolster his international standing.
