U.S. support for Argentina could hit $40 billion

Trump's rescue plan for Argentina could reach $40 billion with an injection of private sector loans, said Treasury Sec. Scott Bessent.

The Trump administration is working on an additional $20 billion support package for Argentina. If completed, it would bring the total price tag of a U.S. backstop plan for Buenos Aires to $40 billion.

“It is a private-sector solution to Argentina’s coming debt payments,” Treasury Secretary Scott Bessent said of the latest round of funding Wednesday.

Bessent said the United States would arrange funding commitments from banks and sovereign wealth funds to cover the second $20 billion tranche.

The comment was most likely designed to allay growing fears that U.S. taxpayers will supply the funds for the administration’s extraordinary financial rescue plan for Argentina.

Argentine President Javier Milei — a close ally of President Donald Trump — is struggling to maintain public support for his massive budget cuts and austerity programs.