Trump pledges U.S. backing for Argentina, urges World Bank to fast-track aid
By Gram Slattery
September 24, 2025 · 3:32 AM GMT+6 · Updated 7 hours ago
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U.S. President Donald Trump met with Argentina’s President Javier Milei on September 23, 2025, during the 80th United Nations General Assembly in New York City. The two leaders greeted each other with a handshake at the high-level event.
- Trump says he does not believe a bailout for Argentina is necessary.
- Bessent pledges to buy pesos and debt, yet no steps have been taken.
- World Bank to fast-track $4 billion in public-private investment and financing
UNITED NATIONS, World Bank $4B aid Sept 23 (Reuters) – U.S. President Donald Trump said on Tuesday that the United States would support Argentina but did not see a need for a financial bailout, as the World Bank announced it would fast-track $4 billion in previously planned public-private investments for the country.
Trump made the remarks alongside Argentine President Javier Milei on the sidelines of the Argentina economic crisis U.N. General Assembly, a day after Treasury Secretary Scott Bessent stated that all options remained under consideration to stabilize Argentina’s financial markets.
“We are going to help them, but I don’t believe a bailout Javier Milei Trump meeting is necessary,” Trump told reporters in New York.
“Scott is coordinating with Argentina to secure favorable debt arrangements and US Treasury Argentina support everything else needed to make the country thrive,” he added. Trump also expressed his support for President Javier Milei’s re-election, saying Milei should have another term “to complete the job.”
When asked for further details on U.S. involvement, Argentina peso rally Trump reiterated, “We are giving the president of Argentina our full backing and endorsement.”
: U.S. Considers Measures to Stabilize Argentina’s Financial Markets
: Treasury Weighs Using Exchange Stabilization Fund or Currency Swaps
On Monday, Treasury Secretary Scott Bessent said all Argentina IMF loan options were under consideration to stabilize Argentina’s financial markets. Measures could include tapping the $219.5 billion Exchange Stabilization Fund to purchase pesos or Argentine dollar-denominated debt, or opening currency swap lines with Latin America's third-largest economy.
Bessent added that any decisions on specific U.S. actions would follow meetings with President Donald Trump and US Exchange Stabilization Fund Argentine President Javier Milei. However, as of late Tuesday afternoon, no announcements had been made. A Treasury spokesperson did not respond to a Reuters inquiry regarding the meeting.
The U.S. pledge of support for Trump’s right-wing ally, Milei, fueled Monday’s rally in Argentina’s markets, with international bonds climbing and the Argentina financial aid peso gaining nearly 5% against the dollar.
World Bank Investments
Meanwhile, the World Bank Group announced it is fast-tracking its $12 billion support plan for Argentina, deploying up to $4 billion in the coming months through a mix of public-sector funding and private-sector investments.
A World Bank spokesperson said the development lender will give early consideration to projects in strategic sectors such as mining, energy, and tourism, though the bank did not reveal which specific projects would receive funding. Meanwhile, Democratic U.S. Senator Elizabeth Warren accused Argentina debt crisis Bessent on Tuesday of proposing a bailout of Argentina’s financial markets using American taxpayer money, requesting in a letter that he clarify the plan and outline any anticipated costs.
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