President Javier Milei sought crucial support from US President Donald Trump on Thursday as he attended an event in Florida.
On a whistlestop trip to the United States – which saw the head of state spend less than 24 hours in North America – Milei visited Trump’s Mar-a-Lago resort to receive an award.
He also intended to share a brief unscheduled meeting with the Republican leader, though at press time, no confirmation of their encounter had been received.
Despite the festivities, the real purpose of Milei’s visit was to shore up support for Argentina’s bid for a new financing programme with the International Monetary Fund and reiterate his government’s desire for a free-trade deal with Washington.
The trip came a day after Trump unveiled sweeping tariffs for almost every nation on earth in a move he branded “Liberation Day.”
Argentina, despite Milei’s apparent closeness to Trump, did not escape – all exports to the United States will now face a 10-percent tariff.
Frequent flyer
Milei’s jaunt to Florida on the ARG-01 presidential plane is the 10th trip to the United States he has taken since his inauguration in December 2023.
He was joined by Presidential Chief-of-Staff Karina Milei, Economy Minister Luis Caputo on the flight, with Foreign Minister Gerardo Werthein meeting up with the team in Florida.
During his appearance at the “American Patriots Gala” at Mar-a-Lago on Thursday, Milei was honoured with the “Lion of Liberty” award from the We Fund The Blue Foundation, in recognition of “his unwavering dedication to freedom, market economics and conservative values.”
Another Argentine, businesswoman, television host and producer Natalia Denegri, was also given a prize.
Confirmation of facetime with Trump did not arrive prior to the trip, though Milei was expected to have “an informal meeting” with the US leader, according to Presidential Spokesperson Manuel Adorni.
He said the trip had been planned for another date, though it had to be rescheduled due to “agenda issues.”
“In addition to receiving an award in honour of his efforts in the fight against terrorism, illegal immigration and the strengthening of the alliance between Argentina and the United States, he will be meeting with leading international figures related to security and US policy,” the official said at a press conference.
In recent days, Werthein has been making Argentina’s case to top US officials. On Tuesday, he met with US Secretary of State Marco Rubio for talks about “Argentina’s achievements” under Milei.
He also met with two top US officials who oversee tariff issues – a fact Milei implied on social media illustrated his government’s ties with Washington.
Funds
Backing from Trump could strengthen Argentina's position vis-à-vis the IMF, at a time when Milei needs key backing for his economic programme ahead of crunch midterm elections in October.
Another sign of international support arrived Wednesday, when the World Bank confirmed it will disburse “a significant support package” to Argentina over the next three years.
The institution is “working closely with President Milei and his team to support his ambitious reform agenda,” said World Bank Ajay Banga after meeting with the president in Buenos Aires, according to an official statement.
This assistance, the amount of which was not specified, would be in addition to the new agreement that Argentina is seeking with the IMF.
Buenos Aires wants an extra US$20 billion in fresh funds to strengthen Central Bank reserves and bolster Milei’s reform programme. This would be on top of the US$44-billion agreement it signed with the IMF in 2018 – the largest loan ever granted by the multilateral organisation.
Negotiators and IMF staff are still haggling over how much of the money Argentina will receive up front and to what extent the government loosens currency restrictions that investors see deterring foreign investment and overvaluing the peso.
The US has the most voting power on the IMF’s board (16 percent), making Trump’s support for Argentina’s programme crucial to get it over the finish line and overcome any resistance from other board members to providing a large portion up front.
Argentina is seeking more than 40 percent of the programme — or US$8 billion — in the first disbursement, according to Economy Minister Luis Caputo.
IMF Managing Director Kristalina Georgieva called Caputo’s 40-percent request “reasonable” on Monday (stating: “They earned it”), while Representative Maria Elvira Salazar, a Florida Republican, went further Tuesday, urging the US Treasury to support an initial disbursement of US$15 billion.
Trade
Argentina’s head of state is also seeking a free-trade deal with Washington – a move the Republican leader says he is open to.
“I’ll consider anything,” Trump told reporters at the White House back in March.
Milei and Trump previously met in February on the sidelines of the Conservative Political Action Conference’s (CPAC) annual meeting in Washington.
They have now met four times since Trump’s election victory in November.
The two presidents often praise each other. “I think he's a great leader, he's doing a fantastic job,” Trump said of Milei in March. The Argentine has called his US counterpart “the president of the most important country on the planet.”
– TIMES/AFP/BLOOMBERG
Comments