Zürcher Nachrichten - Trump says at Milei talks that Argentina does not 'need' bailout

"We're gonna help them but I don't think they need a bailout. He's doing a fantastic job," said Trump of his right-wing ally Milei, who describes himself as an "anarcho-capitalist."

The pair also laughed as Trump handed Milei a printout of one of his own posts on his Truth Social network describing the Argentine -- famous for posing with chainsaws -- as a "truly fantastic and powerful leader."

Trump's comments came a day after the US Treasury said it stood ready to "do what is needed" to support the South American country's economy and calm jittery financial markets.

Budget-slashing libertarian Milei has been faced with a run on the peso following a provincial election trouncing for his party that was seen as a litmus test for national mid-terms next month.

Argentina, which has a track record of economic crises and hyperinflation, is the IMF's biggest debtor.

But as he shook hands with Milei on the margins of the UN General Assembly in New York, Trump said he was giving Milei his "full endorsement."

"He, like us, inherited a mess and what he’s done to fix it is good. … We need to make Argentina great again," Trump told reporters, echoing his own "Make America Great Again" slogan.

The White House said there would be further announcements about Argentina's financial situation after the meeting.

"Thank you very much, President Donald Trump, for your great friendship and this extraordinary gesture," Milei said on X.

Free-marketeer Milei's election was cheered by investors in 2023 but he has begun to hemorrhage support after two years of biting austerity and a corruption scandal involving his sister.

US Treasury Secretary Scott Bessent, who was also due to meet Milei on Tuesday, said on Monday that "all options for stabilization are on the table" for Argentina.

A.Weber--NZN