The U.S. Treasury announced the direct purchase of the Argentine peso and the conclusion of a $20 billion monetary exchange framework agreement with the Argentine central bank on the 9th, sparking controversy in the two countries.U.S. Democrats accused that President Trump's support of a foreign government at the same time caused his own government to fall into "stagnation".

U.S. Treasury Secretary Bessent said on social media platform X that he had held a four-day talks with Argentine Economy Secretary Luis Caputo and eventually reached an agreement.Bessent said the U.S. Treasury Department was ready to take any necessary measures "to stabilize (Argentina) markets" at any time, but he insisted that the move was not "help."

According to Reuters, International Monetary Fund (IMF) officials also participated in the U.S. -Arab talks. Argentina is one of the IMF's largest debtors, and the IMF Board of Governors approved the provision of approximately US$2 billion in financing to Argentina on July 31.

A U.S. Treasury spokesman declined to disclose the amount of the U.S. purchases of the Argentine peso and the specific arrangements of the currency exchange framework agreement.

Argentine President Millay used social media platform X to express his gratitude to the United States for its support. According to multiple media reports, Millay plans to meet with Trump next week.

Some U.S. Democratic lawmakers have criticized the U.S. for supporting Argentina's measures. According to the Associated Press, Elizabeth Warren, a senior Democrat on the U.S. Senate Banking Committee, said in a statement that Trump supports foreign governments while "shutting down" his own government, which is "inexplicable."

Meanwhile, many Argentine economists have criticized the U.S. move as a ¡°dangerous interference¡± in the country¡¯s monetary policy and expressed concern about the consequences of Argentina¡¯s call for aid to the U.S. Argentine economist Diego Jacomini said in a social media post on 9th: ¡°A overseas ¡®giant¡¯ should not have interfered with the Argentine market without constraints, and this should not have happened.¡±

After Milley took office as President of Argentina in December 2023, the austerity fiscal policy called "shock therapy" was implemented, although it had some effect in short-term increasing foreign exchange reserves and suppressing inflation, but prices remained high, cost of living increased, and people protested strikes became the norm.

According to Reuters, the U.S. has ¡°taken a hand¡± to some extent to help the ruling coalition, the Liberty Progress Party, lead by Miles, overcome the midterm elections in Congress. Argentina will hold a midterm congressional election on 26 October, re-elect half of the House and one-third of the Senate seats, the Liberty Progress Party lost the local parliamentary elections at the beginning of September, which were seen as a midterm trend and caused turmoil in the Argentine financial markets.

In order to win more congressional seats in the mid-term elections, the Millay government urgently negotiated an aid plan with the United States to curb the tide of peso runs and stabilize the domestic financial market before the mid-term elections.

However, Argentina's "Politico Online" website commented that the so-called economic assistance from the United States to Argentina is not sustainable and "no matter how strong foreign aid is, it cannot replace a central bank with comprehensive strategic and liquidity reserves."