Why? Is Argentina central to US national security or economic interests?
This Bloomberg article doesn’t explain the economic reasoning. And unless there’s going to be some conditionality regarding the (overvalued) pegged rate on the Argentine currency (as Mark Sobel noted in NOW), then it’s going to be wasted money.
And shouldn’t we be coordinating with the IMF re: conditionality etc.?
Personally, I saw a lot more reason to support Mexico in 1994 using the Exchange Stabilization Fund (ESF), than Argentina in 2025. Mexico had collateral. What does Argentina have? I’ll wait to see if the critics of the 1994 use of the ESF speak up now (at least, those who are still alive).
