The United States said Wednesday it was in talks with Argentina on a $20 billion program of economic support, buoying the South American nation's markets and embattled leader Javier Milei.

The right-wing Milei, a close ally of US President Donald Trump, has been struggling to ease market jitters ahead of midterm elections, which could determine the future of his austerity agenda.

The battered peso rebounded after US Treasury Secretary Scott Bessent announced his department was negotiating with Argentine officials on "a $20 billion swap line."

Argentina's currency rose 1.8 percent to 1360 pesos to the dollar on the announcement, which came a day after Bessent and Trump held talks with Milei in New York.

Since Friday, the peso has gained over 10 percent.

Bessent added that Washington wa

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