US President Donald Trump declared Tuesday that he doesn't think Argentina needs a bailout as he met with President Javier Milei in New York.
"We're gonna help them but I don't think they need a bailout. He's doing a fantastic job," said Trump of his right-wing ally Milei, who describes himself as an "anarcho-capitalist."
The pair also laughed as Trump handed Milei a printout of one of his own posts on his Truth Social network describing the Argentine – famous for posing with chainsaws – as a "truly fantastic and powerful leader."
The US president made the remarks to journalists as he hosted Milei at the UN General Assembly in New York.
Trump also offered his full endorsement for Milei's re-election bid in 2027, describing the Argentine's predecessor in office Alberto Fernández as "a radical left-wing president."
It was unclear if Trump is aware that Milei cannot seek re-election for another two years and that the next national election in Argentina is next month's midterm elections, when only lawmakers are on the ballot.
'Full endorsement'
Trump's comments came a day after the US Treasury said it stood ready to "do what is needed" to support Argentina's economy and calm jittery financial markets.
Budget-slashing libertarian Milei has been faced with a run on the peso following a provincial election trouncing for his party that was seen as a litmus test for national midterms next month.
Argentina, which has a track record of economic crises and hyperinflation, is the IMF's biggest debtor.
But as he shook hands with Milei on the margins of the UN General Assembly in New York, Trump said he was giving Milei his "full endorsement."
"He, like us, inherited a mess and what he’s done to fix it is good. … We need to make Argentina great again," Trump told reporters, echoing his own "Make America Great Again" slogan.
The White House said there would be further announcements about Argentina's financial situation after the meeting.
"Thank you very much, President Donald Trump, for your great friendship and this extraordinary gesture," Milei said on X.
Describing Milei as "highly respected," Trump said in his post on social media network that the Argentine is a "truly fantastic and powerful Leader for the Great People of Argentina [sic].".
"He inherited a 'total mess' with horrible Inflation caused by the previous Radical Left President (much like Crooked Joe Biden, the WORST president in the History our Nation), yet he has brought stability back to Argentina's Economy, and listed it to a new level of Prominence and Respect! [sic]," wrote the US president.
Addressing Argentine voters, Trump said Milei is "a very good friend, fighter, and WINNER and has my Complete and Total Endorsement for Re-Election as President – He will never let you down! [sic]"
Financial turmoil
Argentina is facing financial turmoil amid a delicate political situation for Milei following recent electoral and political setbacks in Congress.
The United States could announce some form of aid shortly, after the US Treasury Department indicated on Monday that it is willing to "do what is necessary.”
Argentina is a "systemically important" ally, Treasury Secretary Scott Bessen said.
The aid could come in the form of a currency swap line, direct currency purchases and government debt purchases, he added.
Markets are doubting whether Argentina has the dollars or international reserves to meet next year’s debt obligations, which includes US$4 billion due in January and US$4.5 billion due in July.
Milei in NYC
Milei arrived in the United States in the early hours of Tuesday morning.
Following the meeting with Trump, the La Libertad Avanza leader is due to hold talks with International Monetary Fund Managing Director Kristalina Georgieva.
This meeting was rescheduled from Monday, when it had been set under Milei’s original travel plan.
Also in attendance will be Foreign Minister Gerardo Werthein, Economy Minister Luis Caputo, Presidential Chief-of-Staff Karina Milei and Presidential Spokesperson Manuel Adorni.
Milei’s final engagement of the day will be at 8pm, when he attends a reception hosted by Trump for presidents attending the UN Assembly.
On Wednesday at 12:45pm, Milei will deliver his address to the UN General Assembly at Wednesday at 12.45pm, before receiving the 2025 Global Citizen Award from the Atlantic Council later that evening.
– TIMES/AFP/NA
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