In response to Argentina's financial instability, US Treasury Secretary Scott Bessent stated that the US is prepared to intervene to stabilize the country's economy. This support may involve central bank currency swaps, direct currency purchases, and the acquisition of US dollar-denominated government debt. Bessent's comments led to a notable increase in the value of the Argentinian peso, stocks, and bonds. President Javier Milei, who has positioned himself as a key ally of former President Trump, thanked the US for its 'unconditional support' and highlighted the need for cooperation among nations that value freedom. The announcement comes after a significant selloff of Argentine assets, exacerbated by disappointing local election results for Milei's coalition. Argentina, which has a long history of economic crises, is currently the largest debtor to the International Monetary Fund, with over $40 billion owed.