Archive · 21 Nov 2025
US Banks Scrap $20B Trump-Backed Argentina Bailout Plan
Some big US banks changed their minds about giving Argentina a $20 billion loan to help with their money problems.
They now want to give them a smaller loan instead.
This happened just before important elections in Argentina, and the US President Trump had said he would only help if a certain party won.
Some people in Argentina thought Trump was trying to influence their election.
US banks JPMorgan Chase, Bank of America, and Citigroup shelved a $20 billion bailout package for Argentina
Banks proposed a smaller, short-term loan package of around $5 billion instead
The original plan was a $20 billion exchange-rate stabilisation agreement coupled with a bank-led debt facility
The deal's timing was crucial, coming days before Argentina's midterm elections
Trump and Treasury Secretary Scott Bessent supported Argentina's libertarian president, Javier Milei
- Who
- US banks (JPMorgan Chase, Bank of America, Citigroup) and Argentina's President Javier Milei
- What
- Cancelled a $20 billion bailout package for Argentina
- When
- Recently, with the change happening just before Argentina's midterm elections
- Where
- Argentina
- Why
- Banks proposed a smaller loan due to changed circumstances, and Trump's support was tied to election results
US Banks' Stance
Argentine Opposition
Loan Amount
US Banks' Stance
Proposed a smaller, short-term loan package of around $5 billion
Argentine Opposition
Accused US banks of reneging on the original $20 billion agreement
US Influence
US Banks' Stance
No mention of influencing elections in the Wall Street Journal report
Argentine Opposition
Accused Trump of meddling in Argentina's electoral influence
- Election Date
- October 26, 2023
- US President Involved
- Donald Trump
- Argentina's President
- Javier Milei