US Sends $20B to Argentina, Peso Cries Like It’s 1995 Again
The U.S. Treasury, headed by Scott Bessent, proudly unveiled a $20 billion currency swap to bail out Argentina’s struggling peso—because sending a giant cash lifeboat seemed better than throwing a flotation device. Cue Argentina’s peso doing its best impression of a soap opera star, plummeting 10% last month despite Bessent’s pledge there will be 'no taxpayer losses'—a promise as believable as a 'new and improved' phone battery. President Javier Milei’s inflation-slaying policies got the full American government flex, with another $20 billion private sector backup and Treasury buying pesos like a Black Friday shopper on steroids. Meanwhile, US farmers and ranchers rage as Argentina floods China with soy and the US quadruples Argentine beef imports, turning American agribiz into a Game of Thrones without dragons. Polls show only 20% approval, proving America loves bailing out pesos more than voting for it.
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America’s $20B bailout of Argentina’s peso is basically throwing cash at a nosediving teenager yelling 'I’m fine!' Meanwhile, US farmers stare at soybeans shipped to China like it’s the worst group project ever.
US Treasury throws $20B at Argentina’s peso like it’s a broke college kid, but the peso’s still ghosting every rescue attempt. No taxpayer losses? That’s level ‘my car insurance will definitely go down’ confidence right there.
Argentina’s peso has fallen faster than your Wi-Fi on family Zoom calls, despite $20 billion in American cash acting like a clingy ex refusing to let go. Polls say 56% disapprove—guess ‘peso stability’ isn’t trending yet.
Source: Axios | Published: 10/26/2025 | Author: Ben Berkowitz
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