Trump's Argentina Deal Sparks Transparency Demands From Democrats
In 2025, a complex financial arrangement involving Argentina caught the eye of U.S. lawmakers. President Donald Trump welcomed Argentinian President Javier Milei to the White House, following which a significant investment in Argentina was made. This move, however, sparked concerns and demands for transparency from Democrats, led by Rep. Jamie Raskin, D-Md.
The investment, totaling $40 billion, comprised $20 billion in private financing and a $20 billion currency swap. It aimed to assist Argentina in managing its debts and stabilizing its currency, the Argentine peso. The Trump administration facilitated this deal during a government shutdown, a move that raised eyebrows among Democrats.
At the heart of the matter were two prominent figures, Scott Bessent and Robert Citrone. Bessent, a former U.S. Treasury Secretary, was involved in negotiating a financial aid package for Argentina. Citrone, on the other hand, managed Discovery Capital Management, a hedge fund with substantial investments in Argentine bonds. Both men had connections to George Soros's investment circle but were not directly associated with each other or Soros.
Raskin requested details about the relationship between Bessent and Citrone, suspecting political undertones in the investment. He sought any correspondence between the two regarding Argentina, the investment, and Citrone's holdings in the country. Raskin demanded that these documents be provided to lawmakers by Nov. 14, pushing for increased transparency in the deal's proceedings.
The investment in Argentina, while intended to support the country's economic stability, has been shrouded in political intrigue. With Democrats expressing concerns and Raskin demanding transparency, the Trump administration's decision to facilitate this deal during a government shutdown remains a contentious issue. The relationship between Bessent and Citrone, and their respective roles in the investment, are now under scrutiny.
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