US Lifeline Buys Argentina Time
A US$20-billion lifeline from the US will keep Argentina's President Javier Milei from being engulfed by a currency crisis in the run-up to key midterm elections.
The outlook after the vote is less clear, according to the Editor-in-Chief, Buenos Aires Times.
The US$20-billion lifeline is almost certain to keep Argentina's President Javier Milei from being engulfed by a currency crisis in the run-up to key midterm elections this month.
- The peso soared about five percent on Monday after a local holiday on Friday.
- Relief continued to wash through Argentina’s currency market after US Treasury Secretary Scott Bessent bought pesos last week.
Author's summary: Argentina gets a US$20-billion lifeline.