June 11, 2026
The Argentine peso closed at a record low, down 1.7% on the day to end at 1,475 per dollar
The backstop is partly aimed at giving right-winger Milei's party a boost in Argentina's Oct 26 midterm legislative elections
Analysts say the president needs a strong result in the midterms to avoid jeopardising the progress he has made in steadying Argentina's economy.
Bessent said the US is prepared to purchase Argentina’s US dollar-denominated bonds and will do so as conditions warrant
"We're going to help them. I don't think they need a bailout," Trump told reporters in New York
