US Treasury Buys Argentine Pesos, Finalizes $20B Currency Swap Framework

Published OCT 10

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Above: U.S. Treasury Secretary Scott Bessent and Argentine President Javier Milei on Sept. 24, 2025. Image copyright: Michael Nagle/Bloomberg/Getty Images

The Spin

Anti-Trump narrative

The Trump administration again is prioritizing personal relationships over U.S. taxpayers, now to prop up the abjectly failed libertarian experiment that has devastated Argentina and pushed over half the country's population into poverty. It's unacceptable that American families struggling with their own economic challenges will be forced to subsidize Trump's ideological ally, who has proven incapable of managing his own country's finances.

Common Dreams Compact

Pro-Trump narrative

Milei has achieved impressive fiscal consolidation and broad liberalization that lay the foundation for Argentina's historic return to prosperity, so his government deserves support from the U.S. This is no bailout, but a good-faith geopolitical move to help a crucial strategic ally in countering Chinese influence in the Western Hemisphere as well as to boost America's credibility with other allies in Latin America.

Americas Quarterly Spectator (UK)