BUENOS AIRES: Argentina’s government is negotiating with the United States over a potential agreement that would provide trade advantages to the South American nation.
President Javier Milei confirmed the discussions during a television interview on Wednesday.
“There is an issue of trade advantages that the United States would be giving us; the U.S. has strongly favored Argentina,“ Milei stated.
The United States Treasury purchased Argentine pesos in the open market again, according to Treasury Secretary Scott Bessent.
Bessent added that the department is collaborating with banks and investment funds to establish a 20 billion dollar facility for investing in Argentina’s sovereign debt.
Milei also indicated he would evaluate cabinet changes following Argentina’s midterm elections in October.
The country will hold midterm elections on 26 October, representing a critical challenge for Milei as he approaches the second half of his term.
Milei faces declining approval ratings and legislative gridlock in an opposition-dominated Congress.
U.S. President Donald Trump warned on Tuesday that the United States would not “waste our time” with Argentina if Milei’s party loses the parliamentary elections.
However, Milei asserted that Trump had voiced support for his government, which will remain in office until at least 2027. – Reuters
