Tootfinder

Treasury Secretary Bessent,
a former hedge fund manager,
is orchestrating a $20 billion lifeline to prop up the Argentine peso,
which has been declining in value.
The backstop is intended to support Argentina’s economy
and its president, Javier Milei.
On Friday, Mr. Bessent said the Treasury Department had intervened for at least a second time to buy pesos
At the center of his bet is that the currency of Argentina
— a debt-ridden country whose…

Bessent Stakes Credibility and Taxpayer Money on Argentina Bet
Treasury Secretary Scott Bessent’s multibillion-dollar bailout of a serial defaulter raises the specter of losses for the United States.