Trump Bets on Argentina Again After First-Term Bailout Blew Up
US President Donald Trump and Argentina’s President Javier Milei in New York, in September.
Photographer: Chip Somodevilla/Getty Images
Back in 2018, Donald Trump wanted to help an old friend. He knew Mauricio Macri from way back in their real estate days, when they’d played golf — likely with little idea they’d end up as presidents of the US and Argentina.
Trump’s first administration encouraged the International Monetary Fund to approve a record $50 billion bailout, aimed at halting a currency rout in the volatile Latin American economy. Fast-forward seven years: Macri works for world soccer body FIFA, the IMF still hasn’t gotten its money back, and Trump is in the White House once more — hosting another Argentine leader who’s on the ropes for similar reasons, and in dire need of cash.