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Posted on 01/12/2026 7:55:10 AM PST by Twotone
BUENOS AIRES, Argentina (AP) — 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.
The Argentine Central Bank confirmed Bessent’s announcement.
The contentious and largely unprecedented U.S. rescue provided dollar liquidity to the Trump administration’s cash-strapped ideological ally and halted a market rout in Argentina ahead of crucial midterm elections last October.
(Excerpt) Read more at apnews.com ...
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That’s actually really good.
It was not an organic or random event. It was a planned attack on Argentina's currency, timed to create panic and chaos just prior to elections. It was led by banks connected to the previous Kirchner faction, although they may have had assistance from outside powers.
Ourstanding News this Monday morning !!!
Gotta love the AP. Any discussion of Milei's economic program has to be spun as a "harsh austerity program". Is it really? Inflation has been slashed and will continue to go down. The economy is growing at a decent pace, which is good given that the government spending component of GDP growth has been slashed. Rental prices have dropped. Its true that the poverty rate increases when he first implemented the program but it is coming down now. And its arguable that the poverty rate would have increased anyway under the unsustainable policies of the prior government with no way to get them back down.
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
Congratulations to Mr. Milei and the people of Argentina.
Thank you for your courage and diligence.
It is! Now waiting to hear the same about Somalis...wake me when they’ve done so.
We need more fiends like that, hey Europe take a hint and pay your debt.
“friends”
Harsh austerity took few months.
The only people really affected were the “do nothing” government bureaucrats, who deserved their fate!
I resent the idea, that the government bureaucrats deserve life tenure, COLA, pensions and benefits; and we all, the unwashed, must pay for that!
Not just Europe, but China. China hasn’t paid a penny on their old railroad treasuries in almost a century. They owe Americans over a trillion $’s.
> “harsh austerity program”
Sort of like every article must have a reference to “climate change”. It’s in the style book.
Trump’s fault.
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