MercoPress. South Atlantic News Agency

Milei announces new trip to US to seek help

Milei meeting with Trump to speed up negotiations with the IMF is expected but not confirmed

Argentine President Javier Milei is set to travel to the United States again late Wednesday after the April 2 Malvinas Veterans' Day ceremony, probably to meet his local colleague, Donald Trump, at the latter's Mar-a-Lago residence. However, this encounter has not been confirmed.

The Libertarian leader's move is perceived in Buenos Aires as an attempt to seek help greasing up the ongoing negotiations for a US$ 20 billion loan from the International Monetary Fund (IMF), which the government needs to keep the peso-dollar rate at bay amid surging inflation and a market loss of confidence that has the administration repeatedly denying a devaluation some deem imminent.

It would be Milei’s third trip to the US in 2025 and seventh since taking office. Also traveling will be Economy Minister Luis Toto Caputo. Officially, the mission aims to strengthen US-Argentina ties, promote trade, and reinforce democratic values despite Trump’s protectionist stance.

IMF Managing Director Kristalina Georgieva has praised Argentina’s economic reforms, suggesting a possible 40% initial disbursement, with a deal expected sometime by the end of this month. In a radio interview, former Economy Minister Felisa Miceli (2005-2007) said that such a timespan represented “an eternity” for Argentina's fragile recovery.

“They have earned it, given their performance,” Georgieva told Reuters. She also foresaw that the new agreement would be closed before the IMF and World Bank between April 21 and 26.

In addition, Foreign Minister Gerardo Werthein met Tuesday with US Secretary of State Marco Rubio in Washington to advance this agenda and plan Milei’s Trump meeting. Werthein also engaged with US Trade Representative Jamieson Greer to push for a trade agreement to boost exports to Argentina’s current second-largest buyer. On the other hand, only 0.3% of US exports went to Argentina in 2024, with shipments worth US$ 6.16 billion.

“Strengthening the strategic alliance between both nations, promoting economic growth, reaffirming democratic values in the region and addressing the key issues of the bilateral agenda between Argentina and the United States,” the San Martín Palace said in a statement.

“President Trump wants to make it clear that, if you are a friend and an ally, a partner of the United States, there are benefits for your country and for your people in doing so, and we want to enter into terms of partnership,” Rubio was quoted as saying.

Meanwhile, US Congresswoman (R-Fla.) María Elvira Salazar urged the Treasury to support a US$ 15 billion initial IMF disbursement, lauding Milei’s anti-socialist reforms and Argentina’s potential as a regional model.

Buenos Aires would use the bulk of these funds to stabilize reserves and manage its US$ 41.36 billion IMF debt, the largest any country has with the credit organization.

Salazar made her request through a letter to US Secretary of the Treasury Scott Bessent, asking him to push for an initial disbursement of 75% of the total agreement (US$ 15 billion) from the IMF to “stabilize the economy” and “move Argentina forward.” Salazar argued that Argentina was “one of the most important allies of the United States” and praised President Milei for bringing the country out of “lethargy induced by socialism.”

“They are fighting inflation, deficits and an economy damaged by years of neglect. Argentina desperately needs the approval of an aggressive fiscal package from the IMF to help them get through this difficult time,” she added while noting that all of Latin America would benefit from the South American country's potential recovery because the region “desperately needs an example to look to and Argentina is the moral and political reference that can show its neighbors the way forward.”

“Moreover, the entire free world will benefit, as people worldwide will understand that freedom and capitalism are the path to prosperity, not socialism. That is why it is crucial that we help President Milei now,” she insisted.

“Thank you, María Elvira, for your continued support!,” Caputo wrote on social networks.

“Count on our support always! It is our duty to support those who fight socialism,” she replied.