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Argentina’s Left stages ‘March of Anger’ over Milei’s austerity measures
(www.aljazeera.com)
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this post was submitted on 21 Sep 2026
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Half of the $40 billion was vaporware that Trump tried to get the private sector to chip in for with very limited success. He finds it very easy to say biyyuns and biyyuns while coming up with headlines that have other people break out the checkbook, but those other people are not always too eager to follow up and put their money at risk on whatever the new thing is. See also Venezuela where Trump is saying that the private sector will be investing $100 billion in the oil industry but only like single digit percentages of that has actually been pledged… and of that, spread over the next five years.
The other half was the $20 billion currency swap line of which Argentina only actually drew on $2.5 billion to deal with the liquidity crisis.
That money was not for free though, they had to actually take out loans to pay it back with interest after they got through the crunch and their peso was no longer being dumped as much.
Which is not to say that Milei is not corrupt, ex. him directly shilling a memecoin to the people while president. He, or at least people in his orbit, certainly profited from the pump and dump but the regular people who bought on late got rugpulled.