Argentine President Javier Milei on Wednesday praised key ally Donald Trump for saving the United States and the world from "catastrophe," citing the US president's migration and trade policies.
"We are not...the only ones making the difficult decisions demanded by this historical moment," the right-wing leader told the UN General Assembly.
" resident Trump, in the United States, also understands that it is time to reverse a dynamic that was leading the United States to a catastrophe, and we know that a catastrophe in the United States is a global catastrophe," Milei said.
His address came on the same day as Washington said it was in talks with Argentina on a $20-billion swap line aimed at reassuring markets ahead of October mid-terms.
Last week, Argentina's Central Bank intervened to try end a run on the peso, amid investor fears that a defeat for Milei in the mid-terms could hamstring his austerity program.
After talks Tuesday between Milei and Trump on the sidelines of the UN General Assembly, US Treasury Secretary Scott Bessent announced several measures to bolster one of Washington's top Latin American allies.
Besides a $20 billion swap line, he said the Treasury was ready to purchase Argentine dollar-denominated bonds and to to deliver "stand-by credit."
Swap lines are transactions that usually involve two central banks agreeing to swap their currencies at a set exchange rate for a specified period.
It is unclear, however, whether the talks with Argentina involve the Federal Reserve.
Milei, who has implemented radical austerity measures to tame inflation and produce balanced budgets, goes into the upcoming legislative polls weakened by his drubbing in recent Buenos Aires provincial polls.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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