THE GUARDIAN: While Javier Milei’s shock therapy to tame inflation has won support from Washington and the IMF, ordinary Argentinians seem less impressed
“We’re backing him 100%. We think he’s done a fantastic job. Like us, he inherited a mess.” Donald Trump gave his enthusiastic endorsement to Javier Milei’s radical economic experiment when the pair met in New York last week.
The US has declared itself ready to offer more than rhetorical support to the chainsaw-wielding Argentinian president in the coming days, as Buenos Aires stands on the brink of a fresh financial crisis.
The US Treasury secretary, Scott Bessent, said the US was “ready to do what is needed”. He suggested the Federal Reserve could offer Buenos Aires a $20bn (£15bn) dollar swap line – a crucial crisis-fighting tool – or the US could even buy the country’s bonds directly.
US administrations have rallied support for Argentinian governments in the past – Bill Clinton was a fan of Carlos Menem’s 1990s reforms, for example. But Trump’s readiness to wade in directly is the latest example of his determination to use economic tools for political ends: in this case, propping up an ideological ally. » | Heather Stewart | Sunday, September 28, 2025
