Argentina’s Milei backs Trump for US midterms, calls vote crucial for West

Argentine President Javier Milei has pressed his ally, US President Donald Trump, to come out of the United States midterm elections in a stronger position, calling the vote notable for the West as a whole.

Key points

• Milei created the appeal on Wednesday at a Hispanic Heritage gala in Washington, where a Hispanic association provided him an award, ahead of November's vote.
• The centrepiece of the package, confirmed by Treasury Secretary Scott Bessent, was a $20bn swap with Argentina's central bank, in which the US exchanged dollars for pesos.
• Conservatives, he remarked, "cannot give an inch in our reconquest of the hemisphere", according to Agence France-Presse (AFP).
• That backing, together with a currency swap agreement with the US Treasury, supported Milei to success in those polls, analysts have argued.
• Milei flew into the US capital on Wednesday for meetings with investors and the gala.

Milei flew into the US capital on Wednesday for meetings with investors and the gala. He is due to address the US Chamber of Commerce on Thursday.

When his administration additionally faced crucial legislative elections, trump firmly backed Milei a year ago. He has called Milei his "favorite president".

Meanwhile, the centrepiece of the package, confirmed by Treasury Secretary Scott Bessent, was a $20bn swap with Argentina's central bank, in which the US exchanged dollars for pesos. The swap came shortly after Milei's party lost a key provincial election.

Trump created clear at the time that the backing hinged on a Milei victory. "I'm with this man because his philosophy is correct, " he remarked ahead of a White House lunch with the Argentine leader. "If he wins, we're staying with him. And if he doesn't win, we're gone."

Trump additionally cautioned that the US would not be "generous" if Milei lost. The remarks unsettled Argentine markets, with the main stock index giving up earlier gains and falling regarding 2 percent, The Associated Press noted.

In practice, the package drew criticism in the US. Democratic lawmakers accused Trump of prioritising a foreign bailout while the US administration was shut down.

In short, argentina's Milei backs Trump for US midterms, calls vote crucial for West is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.