₦airaland Forum

WASHINGTON (AP) — The Trump administration is looking to provide an additional $20 billion in financing for Argentina through a mix of financing from sovereign funds and the private sector.

That would come on top of the $20 billion credit swap line that the U.S. Treasury pledged to Argentine President Javier Milei and his government this month to bolster the South American nation’s collapsing currency.

“We are working on a $20 billion facility that would complement our swap line, with private banks and sovereign funds that, I believe, would be more focused on the debt market,” Treasury Secretary Scott Bessent told reporters Wednesday. He called it “a private-sector solution” and said “many banks are interested in it and many sovereign funds have expressed interest.”

At a White House meeting Tuesday with Milei, Republican President Donald Trump said his administration wanted to help “our neighbors” with the aid package, but he also suggested that the money could be pulled if Milei’s party did not prevail in the Oct. 26 midterm elections.

“If he loses, we are not going to be generous with Argentina,” Trump said.

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The Argentine peso weakened slightly Wednesday after Trump’s comments. The peso depreciated about 0.7%, with the dollar — the currency Argentines rely on to save — trading at 1,395 pesos, compared with 1,385 pesos the previous day.

On Wall Street, shares of major Argentine companies rose slightly after dropping as much as 8.1% Tuesday upon Trump’s comments.

In Argentina, the opposition’s criticism was swift.

Former President Cristina Fernández, who is under house arrest after a corruption conviction, wrote on social media: “Trump to Milei in the United States: ‘Our agreements depend on who wins election.’ Argentines … you already know what to do!”

Martín Lousteau, president of the centrist Radical Civic Union, said “Trump doesn’t want to help a country — he only wants to save Milei,” and that “nothing good can come of this.”

Maximiliano Ferraro, head of the opposition Civic Coalition, called Trump’s comments “a blatant act of extortion against the Argentine Nation.”

Namaster:
"If he loses, we are not going to be generous with Argentina."

The PDFile is attempting to BRIBE an entire country to vote for a GRIFTER like himself.

zero8zero:
This is after getting $20 billion loan from the world bank earlier. The finishing specialists/Bitter Obidients said Nigeria should go to Milei and study Argentina economy 😂

zero8zero:
This is after getting $20 billion loan from the world bank earlier. The finishing specialists/Bitter Obidients said Nigeria should go to Milei and study Argentina economy 😂

Kushites:
Meanwhile, American farmers who voted for Trump are crying and going out of business due to the dumb tariff war the so-called president started.

Banana Republic with money.

chatinent:
Have you tried advising Tinubu to stabilise the economy instead of always blaming everyone else complaining of hardship?

I mean, the time you spent blaming those who are unsatisfied with hardship is enough to encourage Tinubu and Co to do better. After all, they took over from another APC's failure.

Don't give excuses; you are becoming notorious for giving excuses for failure.

Have a nice century.

zero8zero:
Sit down and learn, emotional bullcrap does not run an economy as complex as Nigeria.

FarahAideed:
Nigeria needs this kind of deal but Tinubu is out there playing video and seek with Trump instead using that Lebanese man to penetrate Trump ...Trump is actually a soft man if you show him you mean well fir America

seunmsg:
Argentina’s situation perfectly describes Taiwo Oyedele’s response to the question about whether an average Nigerian is better off today than in 2023 when Tinubu took over. It describes what would have been the situation if those painful reforms were not implemented immediately in 2023.

Despite the support of Donald Trump, Argentines no longer believe in the local currency again. The Peso is at an all time low and the demand for USD daily is over $300 million. Nigeria without this kind of massive bailout has been able to stop the bleeding and stabilize the currency. We did all this while reducing our national debt and building the foreign reserve to a five year all time high.

FarahAideed:
Ask yourself how did fuels subsidy removal save Nigeria from Bankruptcy?

It wiped out over 200 billion dollars from the economy , it's was a costly mistake, the most costly mistake that will take 30 years to recover from

FarahAideed:
Nigeria was never import dependent , you people just make up lies , how can economy be padded yet it was name top Fastest growing economy ...well me I work with only data ..

I have attached our Balance of Trade surplus from 2010 to 2024 to bust your lies that Jonathan govt was import dependent, we exported more under Jonathan ... What factories has your Tinubu opened that has slowed down imports ?

seunmsg:
WASHINGTON (AP) — The Trump administration is looking to provide an additional $20 billion in financing for Argentina through a mix of financing from sovereign funds and the private sector.

That would come on top of the $20 billion credit swap line that the U.S. Treasury pledged to Argentine President Javier Milei and his government this month to bolster the South American nation’s collapsing currency.

“We are working on a $20 billion facility that would complement our swap line, with private banks and sovereign funds that, I believe, would be more focused on the debt market,” Treasury Secretary Scott Bessent told reporters Wednesday. He called it “a private-sector solution” and said “many banks are interested in it and many sovereign funds have expressed interest.”

At a White House meeting Tuesday with Milei, Republican President Donald Trump said his administration wanted to help “our neighbors” with the aid package, but he also suggested that the money could be pulled if Milei’s party did not prevail in the Oct. 26 midterm elections.

“If he loses, we are not going to be generous with Argentina,” Trump said.

Related Stories

The Argentine peso weakened slightly Wednesday after Trump’s comments. The peso depreciated about 0.7%, with the dollar — the currency Argentines rely on to save — trading at 1,395 pesos, compared with 1,385 pesos the previous day.

On Wall Street, shares of major Argentine companies rose slightly after dropping as much as 8.1% Tuesday upon Trump’s comments.

In Argentina, the opposition’s criticism was swift.

Former President Cristina Fernández, who is under house arrest after a corruption conviction, wrote on social media: “Trump to Milei in the United States: ‘Our agreements depend on who wins election.’ Argentines … you already know what to do!”

Martín Lousteau, president of the centrist Radical Civic Union, said “Trump doesn’t want to help a country — he only wants to save Milei,” and that “nothing good can come of this.”

Maximiliano Ferraro, head of the opposition Civic Coalition, called Trump’s comments “a blatant act of extortion against the Argentine Nation.”

https://apnews.com/article/trump-argentina-financing-economy-milei-billion-peso-fd38553ae03f4c33ce1288999469f7fb


Cc: Mynd44 nlfpmod fergie001

mrvitalis:
Remind me again what was Argentina's GDP growth when their president too over

And what's their GDP today?

If you say Argentina GDP that has grown is collapsing what would you say of Nigeria GDP that have lost over 50% under tinubu?

Abi is there another measure to measure economy than GDP?

zero8zero:
Keyboard economist, sit down and be humble. You know nothing.
Which 200billion? . Your padded GDP that was import - dependent where Nigeria became a dump ground for toothpick, human hair and boiled eggs, etc. Abeg get small shame. You get $200billion and your PDP was borrowing to pay salaries of civil servants. Abeg shift.

seunmsg:
Every Nigerian should say a prayer for President Bola Tinubu every night before sleeping. Nigeria’s situation would have been worse than that of Argentina if Tinubu hadn’t initiated the bold reforms.

mrvitalis:
Remind me again what was Argentina's GDP growth when their president too over

And what's their GDP today?

If you say Argentina GDP that has grown is collapsing what would you say of Nigeria GDP that have lost over 50% under tinubu?

Abi is there another measure to measure economy than GDP?

mrvitalis:
Remind me again what was Argentina's GDP growth when their president too over

And what's their GDP today?

If you say Argentina GDP that has grown is collapsing what would you say of Nigeria GDP that have lost over 50% under tinubu?

Abi is there another measure to measure economy than GDP?

seunmsg:
Every Nigerian should say a prayer for President Bola Tinubu every night before sleeping. Nigeria’s situation would have been worse than that of Argentina if Tinubu hadn’t initiated the bold reforms.

zero8zero:
This is after getting $20 billion loan from the world bank earlier. The finishing specialists/Bitter Obidients said Nigeria should go to Milei and study Argentina economy 😂

EKONGKING:
Ha ha , the obedients are so stupid , unfortunately nairaland does not have the save the post feature .

seunmsg:
I’m

We don’t need $40billion loan to stabilize our currency because our currency is already stable though devalued. Argentina is currently the most indebted country to IMF. They took a $20billion loan just recently and now, the US is about to bail them out again on the condition that they vote Trump’s friend bank into office. No, we won’t mortgage our country’s future to the dictate of foreign power.

Whatever the case is, the USD loan will still go the way of others except Argentina stop defending the Peso and allow it to float without any band and find its level. Floating helped the Naira to stabilize despite the devaluation. That’s why we are no longer borrowing billions of dollars weekly simply to support the naira.