A US$20-billion lifeline from the US 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.
After the October 26 vote – a make-or-break moment that could derail his ability to keep pushing his free-market agenda through Congress – the outlook is much less clear.
The peso soared about five percent on Monday, the first day of trading after a local holiday on Friday, as relief continued to wash through Argentina’s currency market after US Treasury Secretary Scott Bessent swooped to buy pesos last week. Comments from Bessent that the peso was undervalued and statements from Argentina Economy Minister Luis Caputo that the US was willing to continue
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