The years President Javier Milei spent courting Donald Trump are paying off at a critical moment as he battles Argentina’s latest currency crisis.
When investors lose faith and the Central Bank burns dollars to prevent a peso crash, as it did this week, it rarely ends well.
But as Milei tries to prevent a meltdown that would almost guarantee the wipe-out of his party in mid-terms next month, he has an advantage that very few emerging market leaders enjoy: the US Treasury is in his corner.
“It’s very hard to believe that it is different this time, but I believe with President Milei it is,” US Treasury Secretary Scott Bessent said this week in an interview on Fox Business.
In recent weeks, the libertarian leader has faced rock-hurling protesters, electoral humiliation
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