Argentina’s libertarian president Javier Milei is hoping that budding friendships with US president-elect Donald Trump and billionaire Elon Musk will help secure much-needed investment in his crisis-stricken country, including a new loan from the IMF.
Argentina is already the IMF’s largest debtor, owing $44bn. It wants billions of dollars in fresh cash to help lift strict currency and capital controls that are slowing the country’s exit from recession.
One official in Milei’s government said there was “no question” that Trump’s victory would speed up talks with the fund, where the US is the largest stakeholder. His victory boosted a recent rally in Argentina’s bonds and stocks.
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