MercoPress. South Atlantic News Agency

Additional financial help for Argentina announced

Caputo thanked the World Bank for its efforts

Following meetings in the United States, including the one between President Javier Milei and his US colleague Donald Trump, the South American country has secured significant financial support from international agencies.

The World Bank announced it will “accelerate support for Argentina” by providing up to US$4 billion in the coming months. This package is intended to fund projects that promote economic competitiveness, such as mining, tourism, energy, and small and medium-sized enterprises (SMEs). The World Bank's statement noted this is part of a larger US$12 billion support package announced in April and reflects “strong confidence” in the government's economic reforms.

Argentine Economy Minister Luis Toto Caputo welcomed the announcement: “Thank you to the World Bank and its president, Ajay Banga,” he wrote on social media after the agency's decision was announced. “The World Bank not only provides resources, but also confidence in the economic strategy we are pursuing,” he said. “We are convinced that the development of mining and critical minerals is key to generating foreign exchange and employment. This support facilitates that path,” he added.

Caputo also described Milei's meeting with Trump as “historic.” Caputo stated that a “specific figure” for financial assistance was discussed and that an official announcement from the US Treasury was expected soon. Trump publicly endorsed Milei and said, “We're going to help them,” though he added he did not believe Argentina needed a “bailout.”

Additionally, the Inter-American Development Bank (IDB) has also confirmed it will provide US$3.9 billion to Argentina. This funding is part of a multi-year strategy and is designated for four main areas: fiscal consolidation, competitiveness, infrastructure modernization, and promoting private investment.

These announcements of financial support are seen as a vote of confidence in the Milei administration's economic strategy and are aimed at helping stabilize Argentina's financial markets.