The victory of the Argentine President’s party in Sunday’s legislative elections brought “a lot of money” to the United States (USA), the North American head of state told journalists today, aboard the US presidential plane (Air Force One).
“I think we made a lot of money now thanks to that election, because bonds went up. The debt rating as a whole improved. That election made a lot of money for the United States,” US President Donald Trump said before arriving in Japan.
The North American President referred to the financial aid that the US Government gave to Argentina.
The Trump Government purchased pesos (Argentina’s currency) and opened a foreign exchange swap line to inject liquidity in dollars into the Argentine economy, worth up to 20 billion dollars (17.2 billion euros).
The objective of the agreement was to boost Argentina’s economy.
“Congratulations to President Javier Milei on his landslide victory in Argentina. He is doing an excellent job! The Argentine people have justified our trust in him,” Trump wrote today on the social network Truth Social, on his way to Japan.
The Argentine President’s party, La Libertad Avanza, obtained around 40% of the votes and significantly increased its representation in Congress: it went from 37 to 93 seats in the Chamber of Deputies (lower house) – out of a total of 257 – and from six to 19 seats in the Senate (upper house) – out of a total of 72.
Trump celebrated the victory of Milei, who he considers a close ally, highlighting that he won in the most important provinces and territories in Argentina, such as the cities of Buenos Aires, Córdoba, Santa Fé and Mendoza, according to the EFE news agency.
The US President also recognized the work of the US Treasury Secretary, Scott Bessent, who negotiated financial aid with private institutions, highlighting Bessent’s service to South American countries.
“We are supporting many countries in South America. We are focusing a lot on South America and we are gaining a lot of influence in South America in many ways,” Trump said.
Bessent said earlier this month that he is working with private funds to create a new instrument to support the Argentine economy worth $20 billion, which would increase US financial support for the Latin American country to approximately $40 billion (around €34 million).