Trump Administration Propped Up Argentine Peso Before October Vote to Aid Milei
Updated
Updated · The New York Times · Aug 6
Trump Administration Propped Up Argentine Peso Before October Vote to Aid Milei
3 articles · Updated · The New York Times · Aug 6
Summary
October intervention by the Trump administration supported the Argentine peso as it slid ahead of legislative elections facing President Javier Milei, a close Trump ally.
U.S. backing helped tilt the vote toward Milei, according to the report, despite the risk that the peso could have fallen further if his economic reforms had failed.
Milei later delivered a balanced budget, ending chronic deficits, putting public debt on a downward path, lowering inflation and helping stabilize the peso.
The article says the peso move fits a broader pattern in Argentina, Japan and the United Arab Emirates, where Washington used currency support or swap signals to advance U.S. economic, political and geopolitical goals.