Treasury Secretary Scott Bessent praised Argentina’s President Javier Milei as a “beacon” for South America, saying the U.S. will back his economic overhaul through a swap line but not direct funding. Bessent framed the move as a strategic interest to prevent another failed state in the region, while hinting Milei’s reforms could inspire neighbors like Bolivia and Ecuador. Yet markets remain skeptical—Argentina’s peso and bonds have continued to slide, with UBS’s Paul Donovan noting investors view Washington’s support as symbolic rather than transformative.

Treasury Secretary Scott Bessent described Argentina as a “beacon” for South America, saying its leader President Javier Milei is doing a “fantastic job” of reversing decline in the country. And Bessent hinted that he hoped the turnar

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