Argentina has repaid the funds it drew from a $20 billion credit line with the Trump administration, U.S. Treasury Secretary Scott Bessent announced Friday, in a crucial step for Argentine President Javier Milei to restore confidence in his chronically distressed economy.
In addition to making payments to bondholders, Milei’s radical libertarian administration had “quickly and fully repaid its limited draw,” Bessent said, without specifying the amount.
The Treasury’s latest report on the status of the credit line said that Argentina’s central bank had traded pesos for $2.5 billion through the swap as of the end of October.
Since when do we ever get repaid for anything we do for foreign countries? This has to be a first or close to it.
The Argentine Central Bank confirmed Bessent’s announcement.
President Trump received a lot of criticism over giving Argentina a credit line to bail them out, but Milei won the presidential race, and now he has paid back his debt.
So much of what Trump does seems unwise and turns out to be a brilliant move. He has a sense about what will work.
What a bright light Argentina has become. No longer a dying socialist/communist led nation, but a nation led by people who understand and use strong libertarian principles. (A lot of GOP senators and reps should pay attention!)