Back in 2018, Donald Trump wanted to help an old friend. He knew Mauricio Macri from way back in their real-estate days, when they’d played golf – likely with little idea they’d end up as presidents of the United States and Argentina.
Trump’s first administration encouraged the International Monetary Fund to approve a record US$50-billion bailout, aimed at halting a currency rout in the volatile Latin American economy. Fast-forward seven years: Macri works for world football body FIFA, the IMF still hasn’t gotten its money back, and Trump is in the White House once more – hosting another Argentine leader who’s on the ropes for similar reasons, and in dire need of cash.
At a Tuesday meeting with his counterpart Javier Milei, the US president is expected to formally announce a US$20-billion lifeline designed to help his ally win midterm elections on October 26.
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