US Treasury Secretary Scott Bessent stated the US government's readiness to extend a credit line to Argentina in the event of unforeseen economic threats.
Support from the US
At a private meeting in Washington, Bessent mentioned that the US could tap its Exchange Stabilization Fund to support Argentina if an economic shock occurs not due to the country's fault.
Argentina's Economy
Under President Javier Milei, Argentina has imposed strict spending cuts and aims for a zero-deficit budget. In December 2024, the country secured a $20 billion loan from the IMF to combat inflation exceeding 100%.
Comparison with Previous Reforms
Bessent compared Milei's policies to former President Mauricio Macri, noting that Macri missed an opportunity by abandoning key policies. 'Milei has the chance to implement reforms without 'blinking,' Bessent remarked.
The cooperation between Washington and Buenos Aires is crucial for implementing reforms in Argentina, which is vital for successfully overcoming recession and establishing a stable economy.
