Treasury Secretary Bessent Commends Argentina’s Economic Reforms in Meeting with Milei – One America News Network
OAN Staff Abril Elfi
3:20 PM – Tuesday, April 15, 2025
The United States Treasury Secretary, Scott Bessent, has held discussions with Argentinian President Javier Milei and his economic advisors, commending the nation’s market-oriented government strategies.
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In a statement from the treasury after the meeting, the department lauded Milei for his efforts in lowering barriers to reciprocal trade with the U.S.
On Monday, Bessent stated during an interview with Bloomberg TV following his meeting with Milei that the Trump administration is concentrating on assisting Latin American nations in avoiding what he termed “exploitative” agreements imposed by China in Africa.
Argentina secured a $20 billion, 48-month Extended Fund Facility agreement with the International Monetary Fund on Friday after removing essential elements of its longstanding currency restrictions. Additionally, it announced a $12 billion financing deal with the World Bank and a further $10 billion agreement with the Inter-American Development Bank.
“I wanted to be here today to express support for President Milei and his commitment … to what I believe is historic in revitalizing Argentina,” Bessent remarked in the interview.
“China has entered into a number of these exploitative agreements presented as aid, where … they’ve seized mineral rights. They’ve inflicted substantial debt onto these nations’ financial sheets,” he added. “They’re ensuring that future generations will be impoverished and deprived of resources. We want to prevent that from occurring any more than it already has in Latin America.”
Since 2000, Chinese lenders have extended a total of $182.28 billion in loans to 49 African nations, reportedly leaving many of these nations encumbered by heavy debt burdens.
As reported by the Boston University Global Development Policy Center, Chinese financial institutions have provided over $120 billion in loans to countries in Latin America and the Caribbean since 2005.
In response to Bessent’s comments, China rebuked him for “maliciously slandering and attacking” the communist state, urging the U.S. to abstain from “impeding and willfully sabotaging” the development efforts of other countries.
“We recommend that the U.S. adjust its perspective, instead of wasting time consistently attacking and defaming China, as well as meddling in the foreign collaborations of regional countries,” stated the Chinese embassy in Argentina in a Tuesday statement.
Bessent clarified that the U.S. does not intend to offer a credit line directly to Argentina akin to that provided by China. He noted that Beijing has demonstrated a “very good faith effort” in coordination with the IMF agreement and would continue with the $5 billion drawn down by the previous Argentine administration. He expressed confidence that Milei’s administration would ultimately generate sufficient foreign exchange inflows to repay this amount as it adheres to its economic reform agenda.
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