US Democrats questioned possible loan to Javier Milei
Democrat Rohit Chopra strongly questioned the potential loan the U.S. Treasury is considering for Argentina and warned of a hidden bailout for global investors. "If we're going to help bail out a foreign government, there should be a vote in Congress," he said.
The warning comes as Javier Milei travels to the United States to manage financing, amid heightened economic tension and international attention, with markets awaiting decisions from the U.S. Treasury, which has promised "significant and forceful" support.
Chopra, a former director of the Consumer Financial Protection Bureau (CFPB), said the loan could benefit large investors while families, small businesses, and farmers are struggling. In X, he wrote: “Enough with the bailouts. The Treasury is hatching a covert scheme to support investors and a politician in Argentina.”
He also noted that taxpayers often bail out large investors without any clear benefits. He therefore called for transparency: "We need to know which funds and investors will reap huge benefits from any potential bailout."
Chopra insisted that any financial support must be formally approved by the U.S. Congress. Her position echoes that of Senator Elizabeth Warren, a political ally of the Democrat.
Enough with the bailouts.
At a time where families, small businesses, and farmers are stealing at home, the Treasury Department is hatching a plan for a backdoor bailout of global investors to prop up a politician in Argentina. https://t.co/5dQZBL0aO1
Javier Milei traveled to the United States on Monday to participate in the 80th UN General Assembly and meet with Donald Trump. His goal is to secure a possible Treasury loan to bolster Argentina's liquidity amid financial volatility and the election campaign.
US Treasury Secretary Scott Bessent assured that the support will be "large and forceful." He explained that Washington could use tools such as swap lines, currency purchases, and debt acquisitions through the Exchange Stabilization Fund. He also affirmed that no additional conditions will be imposed on the Javier Milei administration.
Bessent indicated that the final decision will depend on the bilateral meeting between Milei and Trump. He also emphasized that the market reaction was "excessive" and stressed that the US is closely monitoring Argentina's reforms and economic outlook.
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