New York Times - Trump is backing a $20 billion rescue package for Argentina, with Treasury Secretary Scott Bessent talking about raising the total to $40 billion — more than the entire worldwide U.S.A.I.D. budget last year. ...
So why would Trump spend so much money to try to make Argentina great? In part to try to rescue a right-wing Trumpian ally, President Javier Milei, who is now floundering.
The bailout could also significantly benefit a number of wealthy American hedge fund investors, including two billionaire friends of Bessent who previously worked with him, The Times has reported. By some accounts, including Argentine press reports, one of them urged Bessent to intervene. By buying the peso and lifting its value, the United States gives those investors a chance to dump their bad bets.
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