The US Treasury Secretary once again supported Javier Milei's government.

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.

Bessent's visit to Argentina

Days ago, Scott Bessent made a lightning visit to Buenos Aires, during which he held meetings with President Javier Milei and the Minister of Economy, Luis "Toto" Caputo. He also shared a lunch with private sector leaders.

During his visit to the country, Bessent expressed an explicit support for the libertarian government's economic plan. His visit coincided with the start of a new stage of the economic program and the confirmation of the recent agreement with the IMF.

Bessent justified his visit to the country at a key moment for Milei's administration: "The reason for my presence today is that it is a key day. Milei's government has implemented three adjustments, and this marks the start of the third. They implemented a significant fiscal adjustment, a significant monetary adjustment, and on Friday they announced a significant exchange rate adjustment".

"The IMF has allocated them 20 billion dollars. The World Bank has allocated them 12 billion dollars, and I wanted to come today to show my support for President Milei and his commitment to what I consider historic to rescue Argentina from the brink," he added.

After the meeting with Milei, the Treasury Department highlighted that Secretary Bessent reiterated the firm support of the United States for the economic reforms promoted by President Milei and recognized the swift actions of his government to remove barriers to bilateral trade.

He also congratulated the president for the successful negotiations carried out with the International Monetary Fund and reaffirmed the U.S. administration's confidence in Argentina's potential to sustain the positive momentum of its economy.