Milei to meet Dimon, speak to CEOs two days before key election

Argentine President Javier Milei will meet with Jamie Dimon during the JPMorgan Chase & Co chief executive’s visit to Buenos Aires this week, according to people familiar with the matter.

Milei, who faces a crucial midterm vote Sunday that could determine the fate of his free-market reforms, will hold talks with Dimon and other JPMorgan executives on Friday, the people said, requesting anonymity because the information isn’t public. The president will also deliver a speech to Latin American CEOs at an event organised by the Wall Street bank.

JPMorgan declined to comment and Milei’s office didn’t immediately reply to a request.

The libertarian president has been trying to stave off a run on the peso as Argentines seek shelter in hard currency ahead of the election. US Treasury Secretary Scott Bessent has pledged his full support, signing a US$20-billion swap line with Argentina’s central bank and working to line up private-sector financing of the same amount.

JPMorgan and Citigroup Inc. were active in Argentina’s spot currency market on Wednesday, when the peso snapped a five-day losing streak with US support. Bessent’s Treasury sold about US$400 million to prop up the local currency, Economy Minister Luis Caputo told LN+ television Thursday, confirming an earlier Bloomberg News report. 

Dimon is visiting the Argentine capital as part of high-level meetings that were organized well before the latest market panic gripped Argentina. The JPMorgan CEO regularly meets with world leaders when he visits their countries, and the bank announced several months ago it will be expanding its footprint and headcount in Buenos Aires.