Treasury Secretary Bessent torches MSNBC over Argentina ‘bailout’ claims
Treasury Secretary Scott Bessent. Photo by Andrew Harnik/Getty Images
“You’re the treasury secretary,” Lemire stated.
“Yes, but why would you call it a bailout?” Bessent questioned. “In most bailouts, you don’t make money. The U.S. government made money. We used our financial balance sheet to stabilize the government, one of our great allies in Latin America, during an election.”
He reiterated that the U.S. would make money from the arrangement, adding that he “would rather use peace through economic strength than have to be shooting at narco boats coming offshore if the [Argentinian] government collapsed.” Bessent called the situation a “generational opportunity in Latin America to create allies.”
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Photo by Chip Somodevilla/Getty Images
“By stabilizing the economy there and making a profit, then that’s a very good deal for the American people,” Bessent continued. “There’s a lot we could have been doing for the American farmers, but Democrats closed the government.”
He clarified that the arrangement with Argentina was a $20 billion credit line and that the U.S. has already made a profit on the swap line, which involved exchanging U.S. dollars for pesos.
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