Bessent says US signed a $20 billion 'economic stabilization agreement' with Argentina

Treasury Secretary Scott Bessent on Tuesday confirmed that the United States has signed a $20 billion “economic stabilization” agreement with Argentina in order to help boost Argentina's economy.

President Donald Trump teased last week that financing for the South American country would be contingent on President Javier Milei's success in his midterm elections. 

The Trump administration pledged a $20 billion credit swap line to Argentina to help stabilize its turbulent financial markets, according to The Hill.

"As we work to stabilize and secure the Western Hemisphere and Make America Safe Again, the [Treasury] has signed an economic stabilization agreement with the Central Bank of Argentina," Bessent posted on X. "President [Milei's] efforts to reverse his nation’s decades of decline, stemming from the radical leftism of the Peronists are of critical importance.

"Argentina now has the opportunity to embrace economic freedom, and our stabilization agreement is a bridge to a better economic future for Argentina, not a bailout," he continued. "President Milei has worked hard to reverse previous irresponsible economic policies, including overspending, fiscal irresponsibility, and reckless borrowing." 

Bessent added that a "strong, stable Argentina" is in the "strategic interest of the United States."

"President Trump is leading the way in the Western Hemisphere and our Administration supports President Milei’s current reform plans and prudent fiscal strategy to Make Argentina Great Again," he concluded.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.