Argentina's libertarian leader Javier Milei will meet with US President Trump at the White House on Tuesday for the first time, following his enthusiastic praise of Trump. This strategy has helped position the cash-strapped nation as one of the Trump administration's closest allies.

For Milei, such effusive statements are not new — his dramatic cuts to government spending and attacks on the "woke left" have earned him a following among US conservatives.

"Your commitment to life, liberty, and peace has brought hope back to the world," Milei wrote on social media Monday, congratulating Trump on brokering the Gaza ceasefire agreement. The ceasefire has taken effect after two years of devastating conflict between Israel and Hamas.

"I am honored to consider you not just an ally in defending these values, but a dear friend and an example of leadership that inspires all who believe in freedom," he added.

Trump and Milei's "close relationship" has already yielded tangible benefits for Argentina, with the latest being $20 billion in assistance.

Experts note that Milei's White House visit has two clear objectives: securing US tariff exemptions or reductions for Argentine products, and understanding how the US will implement the $20 billion currency swap facility — designed to support the Argentine peso and replenish the country's depleted foreign reserves ahead of crucial midterm elections later this month.

**Crisis Moment: Turning to Trump**

After Milei's party suffered a crushing defeat in local elections last month, the Trump administration made an extraordinary decision: to intervene in Argentina's currency markets.

Beyond repeated setbacks in the opposition-controlled Congress, the party's defeat triggered a crisis of confidence — voters in Buenos Aires province expressed dissatisfaction with rising unemployment, contracting economic activity, and escalating corruption scandals.

Investors worried this might signal waning public support for Milei's free-market policies, leading to widespread selling of Argentine bonds and pesos.

Argentina's Treasury began consuming precious dollar reserves at an alarming rate, attempting to prop up the currency and keep it within the trading range established by the country's recent $20 billion agreement with the International Monetary Fund (IMF).

But as the peso continued to weaken, Milei grew desperate.

On September 23, Milei met with Trump during the UN General Assembly in New York. After an enthusiastic exchange of high-fives, handshakes, and mutual praise, US Treasury Secretary Scott Bessent quickly publicly committed to providing Argentina with $20 billion in assistance.

Markets responded positively, and investors breathed a sigh of relief.

**Timing is Critical**

In the days that followed, Argentine Economy Minister Luis Caputo spent hours in Washington meetings, trying to finalize the deal.

Last Thursday, Bessent announced that the US would allow Argentina to exchange up to $20 billion worth of pesos for equivalent dollars, finally providing certainty. Bessent stated that the success of Milei's policies has "systemic importance," adding that the US Treasury has directly purchased an undisclosed amount of pesos.

For the Trump administration, the timing of this aid is somewhat awkward: the US government is in shutdown mode, leading to massive layoffs, while simultaneously rescuing a country that has defaulted nine times, creating public relations challenges.

But for Argentina, this assistance comes at exactly the right moment.

Milei understands that currency devaluation could threaten his core achievement of controlling inflation and damage his approval ratings. Therefore, he hopes to delay what many economists consider an "inevitable" currency devaluation, at least until after the October 26 midterm elections — peso devaluation would likely trigger an inflation rebound.

"Milei's trip to the US comes at a moment of desperation," said Marcelo J. Garcia, head of the Americas division at Horizon Engage political risk consulting and political analyst.

"He needs to reshape market expectations and prove his policies are sustainable," Garcia added. "The government is trying to buy time to ensure no major policy adjustments, such as currency devaluation or allowing the peso to float freely, are needed before the midterm elections."

**No Strings Attached?**

When asked about details of his expected Tuesday evening meeting with Trump, Milei was vague. Officials revealed he will hold a two-hour meeting with Trump, followed by a working lunch with other senior officials.

Additionally, Milei is expected to attend a White House ceremony commemorating Charlie Kirk — the prominent right-wing political activist who was shot and killed last month. Against the backdrop of rising global right-wing movements, Milei and Kirk had met multiple times at speaking events.

"Our agenda is not single-issue but covers multiple areas," Milei said Monday in a Buenos Aires radio interview. "Items that have been finalized will be announced publicly, while those still being advanced will remain undisclosed for now."

It remains unclear whether the Trump administration has attached conditions to this currency swap agreement (if any conditions exist). Democratic lawmakers and other critics have already condemned this move as a typical example of Trump "rewarding cronies at the expense of American taxpayers."

Also unknown is how Argentina, as the IMF's largest debtor, will repay this $20 billion assistance — considering that in April this year, the IMF already provided Argentina with the same amount in loans, following a previous $40 billion IMF loan.

Despite receiving such extensive assistance, the Milei government has failed to meet the IMF's initial targets for rebuilding foreign reserves.

"Argentina just received $14 billion in advance from the IMF and quickly needed another $20 billion from the US — the US should be concerned about this," said Brad Setser, a former US Treasury official now at the Council on Foreign Relations.

He added: "I worry this might just be a short-term transitional solution that doesn't give Argentina stronger capabilities to address its own problems."

But during a radio interview before boarding his flight, Milei remained optimistic. He enthusiastically stated that US support would help Argentina break free from the "regional branch of 21st-century socialism" and poetically described Argentina's economic potential.

"Dollars will flow in like a tide," Milei said. "We will have endless dollars."