Buenos Aires Herald 
President Donald Trump declared that Argentina’s President Javier Milei had his “complete and total endorsement for re-election as president” after the pair met in New York during the United Nations General Assembly.
Trump made the comments in a brief address at the end of the meeting, and in a post on his TruthSocial social network afterwards.
Shortly after the leaders met, Argentina’s Economy Minister Luis Caputo announced that the World Bank would act to disburse US$4 billion dollars to Argentina over the coming months.
A video released by Argentina’s presidential communications team showed Milei and Trump sitting side by side. Asked by a voice off-screen whether the U.S. would “help bail out Argentina,” Trump said: “We’re going to help them, I don’t think they need a bailout. He’s [Milei] done a fantastic job.”
“I’m doing something I don’t often do, I’m giving a full endorsement to him,” Trump said in the videoed address. “We just endorsed him for president, he has a race coming up. To the people of Argentina, we’re backing him 100%.”
Milei was elected president in 2023. Argentina’s next presidential elections are not until 2027, but mid-term legislative elections will be held on October 26, and the leader is hoping to strengthen his hand in Congress.
Milei does not speak in the video. However, Trump presents him with a written copy of his TruthSocial post expressing his endorsement.
On Monday, the day before the meeting, U.S. Treasury Secretary Scott Bessent said that the U.S. was prepared to support Argentina by providing swap lines, currency purchases, and government debt purchases, among other options. “All options for stabilization are on the table,” he posted on X.
Trump said of Milei: “He, like us, inherited a complete mess, what he’s done to fix it is good and Scott [Bessent] is working with their country so that they can get good debt and do all the things they need to do to make Argentina great again. So it’s an honor for me to endorse the president, and the future president, of Argentina.”
Bessent also chimed in during the address, saying of Milei’s government: “The transformation is unbelievable.”
Milei told La Voz del Interior on Friday that Argentina was in “very advanced” negotiations over potential financial support from the US. In 2026, the country will face debt payments of US$4 billion in January and US$4.5 billion in July.
The Central Bank has not accumulated international reserves in recent months and Economy Minister Luis Caputo promised last week that the monetary authority would sell “down to the last dollar” to support the value of the peso. The circumstances have left economists asking how that debt would be paid.
Trump explicitly said he believed Milei should serve a second term in office. “I think to complete the job, the great job that he’s doing, he needs the next term, and he’s going to get it based on everything I’ve seen.”
World Bank to provide US$4 billion to Argentina
An hour after Trump’s message of support was published, Economy Minister Luis Caputo announced that the World Bank was “accelerating support for Argentina, combining public sector financing with private sector investment and mobilization to deploy up to US$4 billion in the coming months in support of the country’s reform path and long-term growth agenda.”
He said the World Bank’s support would focus on competitive sectors for Argentina, such as mining and critical minerals, strengthening the tourism sector, boosting “access to energy,” strengthening supply chains, and financing small companies.
“This step advances the US$12 billion support package from the World Bank Group announced in April and reflects strong confidence in the government’s efforts to modernize the economy, carry out structural reforms, attract private investment, and create jobs,” he said, noting that all proposals would have to be approved by the World Bank’s board.
Milei’s itinerary in New York
Milei will also meet IMF managing director Kristalina Georgieva and Israeli Prime Minister Benjamin Netanyahu during his three-day trip to New York. He is scheduled to give an address to the assembly on Wednesday.
The president traveled to New York on Monday evening, a day later than planned, after Monday’s announcement that Argentina will temporarily eliminate export duties on agricultural goods, a move the government hopes will bring in more dollars.
The trip comes at a complex moment for Argentina’s economy: growth has been cooling, consumption is down, and monthly inflation has been hovering stubbornly between 1.5% and 1.9% since April. Last week, the Central Bank sold off US$1.1 billion in three days to support the peso.