"President Donald Trump understands that it's time to reverse the dynamic that was leading the U.S. to disaster. We all know that disaster in the U.S. is a global disaster," Argentine President Javier Milei said at the UN General Assembly on 24/9.

Milei did not specify the "disasters", but mentioned the American leader's migration and trade policies. The Argentine leader also described Trump as one of the leaders who had to "make difficult decisions at a historic moment".

President Milei addresses the UN General Assembly on 24/9. Photo: AP

President Milei addresses the UN General Assembly on 24/9. Photo: AP

During talks on the sidelines of the UN General Assembly the day before, Trump said the U.S. would help Argentina, expressing support for Milei's re-election bid so that his counterpart could have another term to "finish the job". "We fully agree with the Argentine president," he said.

He also said that U.S. Treasury Secretary Scott Bessent was working with Argentine partners to help the South American nation "become great again".

U.S. officials announced on 24/9 that they were negotiating a $20 billion currency swap with Argentina to stabilize the market ahead of the midterm elections in October. A currency swap is understood as an agreement between two central banks to exchange currencies at a fixed exchange rate for a certain period of time.

In addition to the currency swap, Bessent said the U.S. Treasury was ready to buy Argentina's dollar bonds and provide "contingency credit".

Thanh Tam (Reuters, AFP)