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Weekly Report - 16 October 2025 (WR-25-41)
ARGENTINA: Trump ties US support to Milei’s electoral victory
Argentina’s President Javier Milei received what appeared to be concrete support from the US government days before travelling to the country for a meeting with President Donald Trump. The promise of US financial backing has stabilised the national currency in the closing stages of the campaign for the mid-term federal congressional elections on 26 October. But while extolling Milei’s political credentials during their meeting on 14 October, Trump explicitly conditioned that support on his electoral success. Senior Argentine cabinet ministers rushed to claim Trump had meant a Milei re-election bid in 2027, but subsequent comments suggested he was referring to the mid-terms. This piles pressure on Milei’s far-right La Libertad Avanza (LLA) to pick up seats or the verdict of the markets is likely to be severe.
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