The United States said on Wednesday it was in talks with Argentina on a $20 billion program of economic support, buoying Argentina's markets and its embattled leader Javier Milei, a close ally of President Donald Trump.

The right-wing Milei has been struggling to ease market jitters ahead of midterm elections, which could determine the future of his austerity agenda.

The battered peso rebounded after US Treasury Secretary Scott Bessent announced his department was negotiating with Argentine officials on "a $20 billion swap line with the Central Bank."

Argentina's currency rose 2.4 percent to 1,333.90 pesos to the US dollar on the announcement, which came a day after Bessent and US President Trump held talks with Milei in New York.

The United States is also ready to buy the country's do

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