Investing and giving are two different things.
The US is providing Argentina with a $20 billion currency swap line and is directly purchasing an undisclosed amount of Argentine pesos to stabilize its economy. Separately, the US has historically provided smaller amounts of foreign aid for economic and military development, with $8.38 million committed in FY 2023.
$20 billion swap line: The US Treasury finalized a $20 billion currency swap agreement with Argentina’s central bank, which allows the two countries to exchange currencies to help Argentina’s financial markets.
Direct peso purchases: The US has also started buying Argentine pesos on the foreign exchange market to directly support the currency’s value.
For fiscal year 2023, the US committed $8.38 million in foreign aid to Argentina, which included approximately $6.79 million in economic aid and $1.59 million in military aid.
FY 2025 aid: For fiscal year 2025, there are reports of a much smaller amount of foreign aid to Argentina, reported as $68,000.
Hey i’ll trade you this pile of Argentine pesos I have for your dollars! It’s ok, it’s an “investment”
We're borrowing money for them.
Investing in Argentina.... historically an amazing bet. Hint, if it was “investing”, the big banks would be buying all they could.
Helping out the Argentine President up for election in 2 weeks s a 3d thing. Trump’s action turned “squeaking by” into a massive win.
It's Javier Milei, whose party just swept the Congressional elections, so hopefully it's a good thing.
Now if someone like the Perons were running Argentina....