Getty ImagesUS Treasury Secretary Scott Bessent has said the US is “ready to do what is needed” to help stabilise Argentina’s escalating financial turmoil.
“All options for stabilization are on the table,” Bessent wrote on social media, calling Argentina a “systematically important US ally in Latin America”.
The message helped to calm financial markets, which have been rattled as recent election losses raise doubts about the future of Javier Milei’s cost-cutting, free-market agenda.
The value of the peso has been plunging, while investors dump Argentine stocks and bonds.
Milei, a libertarian economist and ally of US President Donald Trump, was elected president of Argentina in 2023 as an outsider candidate who promised to control soaring inflation through radical government spending cuts and other reforms.
A stable Argentine peso is critical to that pledge.
But the currency has lost value as investors move money out of the country, in…
