The United States has given Argentina a significant boost by finalizing a $20 billion economic support package and purchasing Argentine pesos. According to US Treasury Secretary Scott Bessent, this move is designed to stabilize Argentina’s troubled finances.

The U.S. Treasury, led by Secretary Scott Bessent, is throwing its support behind Argentina’s new president, Javier Milei, by providing a swap line rather than direct financing. Officials hope this support will spark a chain reaction of stability in South America and forestall the rise of “failed states.”