FAQ: Why America just bailed out Argentina with a $20 billion lifeline [View all]
The Trump administration is bailing out Argentina in a move critics are saying has more to do with politics than economics or American interests.
That means $20 billion US taxpayer dollars will be used to bail out a country led by a close ally of President Donald Trump: chainsaw-wielding, libertarian Javier Milei.
“Argentina faces a moment of acute illiquidity,” Treasury Secretary Scott Bessent wrote on X Thursday. “The US Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets.”
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The bailout would deliver a major windfall to Rob Citrone, a billionaire hedge fund manager with significant investments in Argentina. “Bessent’s personal and professional relationship with Citrone has spanned decades,” according to independent journalist Judd Legum.
https://finance.yahoo.com/news/faq-why-america-just-bailed-130052982.html
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