On the first day without currency controls in Argentina, after years of controls and restrictions in the foreign exchange market, President Javier Milei is holding a meeting this Monday afternoon with the United States Secretary of the Treasury, Scott Bessent, amid strong expectations for a possible bilateral cooperation announcement.
The U.S. official, a key figure within President Donald Trump's team, arrived in Buenos Aires in the morning for a lightning visit that will last about 12 hours.
In that context, Bessent entered the Casa Rosada shortly before 3:00 PM. The presidential building remains completely fenced and guarded by a large security operation with hundreds of Federal Police officers.
Luis Caputo y Scott Bessent.
As was known in the morning, the U.S. representative began his day sharing a lunch with local businessmen at the Bosch Palace, and later met with the Minister of Economy, Luis "Toto" Caputo, at the Ministry of Economy, across from the Casa Rosada. Initially, the meeting with Caputo was scheduled for 11:00 AM, but it was postponed because Trump's envoy had a scheduled interview with a British media outlet.
Also in Buenos Aires are Robert Citrone, a billionaire investor and founder of Discovery Group —with investments in the country and a long-standing relationship with Caputo—; Matt del Orfano, an expert in the Argentine economy and Citrone's right-hand man; along with the top leaders of the Conservative Political Action Conference (CPAC), Matt Schlapp (president) and Soledad Cedro (CEO of CPAC Argentina).
According to circulating reports, Bessent may have discussed with the head of the Ministry of Economy a possible new loan from the United States, as part of Trump's strategy to counter China's influence in Latin America.
Donald Trump y Scott Bessent.
Washington seeks to halt the advance of the Asian giant in the region and considers Javier Milei a strategic partner in that mission, so it may be evaluating granting a special credit.
Around 2:50 PM, the American official left the Ministry of Economy, crossed Rivadavia Street on foot, and entered the Government House, where the President was already waiting for him.
So far, Milei's government has managed to close financing agreements with the International Monetary Fund (IMF), the Inter-American Development Bank (IDB), and other multilateral entities, which allowed progress in the elimination of currency controls.
