Abeg, my people, no make mistake! Big news don land from US wey dey shake everywhere!
US Treasury Secretary, Scott Bessent, shout out yesterday say Argentina don finally pay back dem emergency currency loan. This loan no be small thing o, e don bring ‘tens of millions’ wey dey make American taxpayers smile while e dey help Argentina stable, the country wey sabi as key ally for Latin America.
Bessent no go fit hide im excitement as e praise President Javier Milei wey don dey run plenty economic reforms since e enter position. E make clear say this na proof sey President Trump’s ‘Peace Through Economic Strength’ policy dey work well for Latin America.
Last year October, Argentina face serious wahala with liquidity problems, na im be sey the value of dem peso begin dey scatter. Investors no fit trust the economy again. Na so United States come step in with emergency dollar funding through wetin dem call currency swap from Treasury’s Exchange Stabilisation Fund to carry help the peso stand gidigba, eliminate wahala wey fit bring financial crisis.
Bessent still talk say Argentina don re-access financial markets again, and dem dey make serious changes to di monetary and exchange rate policies. He also confirm say dem no longer hold any Argentine pesos, meaning say things don balance well.
This news dey come just before important elections for Argentina. E don help Milei, wey be libertarian economist wey assume office December 2023, as him dey bring out reform wey go fit tackle dem chronic budget deficits and hyperinflation wey dey vex dem people for house.
Bessent come emphasize say di Exchange Stabilisation Fund “never lose money” before, and he praise di international support wey go towards Argentina’s reforms, include di International Monetary Fund wey dey assist dem now. “Na only America fit act as fast as we do for October to preserve market and exchange rate stability,” Bessent yan.
The help wey America give Argentina, dey show di Trump administration’s bigger plan for Latin America, wey dem showcase last last by removing Venezuelan President Nicolas Maduro. E be like say dem dey look out for di whole continent now…
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