U.S. Treasury Secretary Supports Argentina's Economic Reforms

U.S. Treasury Secretary Scott Bessent is set to visit Argentina to support President Javier Milei's economic reforms. Bessent aims to strengthen economic ties and discuss a potential $20 billion IMF loan critical for Argentina's recovery from its severe economic crisis marked by inflation and recession.

U.S. Treasury Secretary Scott Bessent is scheduled to meet with Argentina's President Javier Milei and other key leaders next week to endorse the nation's economic reforms, aiming to fortify U.S.-Argentina ties. Discussions will revolve around collaboration and the $20 billion IMF loan crucial for Argentina's ongoing economic recovery.

This upcoming visit marks Bessent's first international trip since stepping into office, closely following the anticipated approval of an IMF loan designed to assist Argentina's struggling economy. The visit underscores the significance of U.S. support in bolstering Argentina's economic policies and its recovery from a severe financial crisis.

Bessent, holding a critical U.S. share in the IMF and World Bank, is poised to reinforce U.S. backing for President Milei's reform agenda. The Treasury's endorsement reflects Argentina's efforts to stabilize its economy, after facing triple-digit inflation and dwindling foreign reserves, affirming the importance of U.S.-Argentina economic cooperation.

(With inputs from agencies.)