Scott Bessent backed Milei again and highlighted the success of the swap with Argentina

Scott Bessent backed Milei again and highlighted the success of the swap with Argentina
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Argentina

Bessent defended in Congress the assistance of 2025 and once again defined Argentina as a U.S. ally

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The U.S. Treasury Secretary, Scott Bessent, reiterated his defense of the financial support granted to Argentina during 2025 and highlighted that the operation ended with the return of the funds used and profits of tens of millions of dollars for Washington.

During his presentation this Tuesday before the House Financial Services Committee, the official from Donald Trump explained that Argentina had access to a swap line of up to USD 20 billion, although it ultimately used only a small portion of the available amount.

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“In Argentina, we had a fully guaranteed swap line from which they took a small amount,” Bessent explained to lawmakers. He emphasized that the Treasury's goal was to protect U.S. public resources and the operation ended up generating profits.

“The goal was to protect the capital of the American people. In fact, we made tens of millions of dollars,” he stated. Bessent added that the tool also allowed for “building a bridge to a U.S. ally.”

The official placed special emphasis on this last point when one of the exchanges during the hearing linked the financial support directly to Trump. Bessent differentiated the personal relationship between the two presidents from the strategic relationship between the two countries and maintained that Argentina is “a U.S. ally.”

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  2. MILEI COMPARÓ LA INFLACIÓN CON EL INFIERNO Y RECORDÓ CÓMO LOS ARGENTINOS SUFRIERON SUS CONSECUENCIAS “Pero ¿qué es el infierno en términos económicos? Es una sociedad que vive para el hoy, donde no existe mañana, donde se consume para sobrevivir, donde no hay industria ni hay comercio, menos aún hay crecimiento personal ni proyección profesional o familiar... Esto es, en última instancia, el infierno. La falta de esperanza, de perspectiva, de futuro. Es un presente que se vive como desesperación constante y como condena. Los argentinos conocemos bien ese infierno, lo vivimos con la inflación”.

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  3. MILEI EXPLICÓ CÓMO LA EMISIÓN MONETARIA CONDUCE AL INFIERNO BAJO LA PROMESA DEL PARAÍSO El presidente @JMilei explicó cómo los gobiernos populistas recurren a la emisión masiva de dinero para financiar promesas imposibles, generando una falsa sensación de bienestar que termina destruida por la inflación. “Esta vía es muy tentadora porque le hace parecer a los hombres que están acercándose al paraíso, cuando en verdad se los está conduciendo al infierno”.

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  4. BASADO: MILEI COMPARÓ LAS PROMESAS DE LA IZQUIERDA CON LAS TENTACIONES DE SATANÁS El presidente @JMilei recordó cómo el demonio tentó a Jesús ofreciéndole soluciones fáciles, poder y riquezas, y advirtió sobre el costo moral de esas promesas. “El maligno ofrece siempre gratificación instantánea, poder y lujos. Pero esto siempre tiene un precio, que es la pérdida del alma”.

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  5. El presidente @JMilei defendió los valores judeocristianos como fundamento moral de su Gobierno y repudió a la casta política por priorizar la conveniencia sobre la justicia. “Nosotros aplicamos lo que yo llamo la moral como política de Estado. [...] Tomamos medidas partiendo de lo que es justo y no desde lo políticamente conveniente, como nos ha acostumbrado la política tradicional a lo largo de la historia argentina”.

    46 min ago

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The presentation represents a new public defense of the mechanism used during the 2025 legislative elections. Days earlier, Bessent had explained that Washington considered Javier Milei's economic policies to be solid and stated that the Argentine opposition was using the markets to try to “create panic and cause a currency crisis.”

On that occasion, the Treasury Secretary explained that the United States sought to build a financial “bridge” during the electoral period while hoping that the operation would also be profitable for his country.

Scott Bessent with Javier Milei
Scott Bessent with Javier Milei

The scheme was implemented through the U.S. Currency Stabilization Fund and included a line of up to USD 20 billion. Ultimately, Argentina used only a part, subsequently returned the funds used and paid the corresponding costs, closing the operation.

Bessent also praised the political direction adopted by the Argentine Government. During his intervention, he stated that Milei moved the country away from governments he defined as “far-left and anti-American” and claimed that Argentina has become a “beacon for Latin America”.