The United States Treasury Secretary, Scott Bessent, reiterated the support of Donald Trump's administration for the economic program promoted by Javier Milei and highlighted that the country "is making real progress".
"Argentina is a good example. I was in Argentina earlier this month to demonstrate the United States' support for the IMF's efforts to help the country financially restructure. Argentina deserves the IMF's support because it is making real progress in meeting financial parameters," the official noted.
During his participation in an event organized by the Institute of International Finance (IIF), Bessent stated: "When done responsibly, IMF loans are crucial for their contribution to the global economy: when markets fail, the IMF steps in and facilitates resources".
"In return, countries implement economic reforms to solve their balance of payments issues and boost economic growth. The reforms undertaken during these programs are some of the most important contributions of the IMF to a strong, sustainable, and balanced global economy," he added.
However, he warned that not all countries are in a position to receive that support. "But not all countries deserve it. The IMF must hold countries accountable for implementing economic reforms. And sometimes, the IMF must say no. The organization is not obligated to lend to countries that do not implement reforms. Economic stability and growth should be the indicators of the IMF's success, not the amount of money the institution lends," he concluded.
Additionally, this Tuesday, Bessent had informed a group of investors that, in the event of an external shock, Donald Trump's administration would consider granting Milei's government a direct line of credit. "If Argentina needs it, in the event of an external shock and if Milei stays the course, we would be willing to use the ESF," he explained.
