Argentina President-Elect Javier Milei Meets with US Top Officials; Seeks Foreign Policy, IMF Reset

Argentina President-elect Javier Milei embarked on his first international trip since winning the presidential runoff, meeting with senior Biden administration officials at the White House on Tuesday, per ABC News.

The right-wing Milei, having a "positive meeting" with White House national security adviser Jake Sullivan, discussed international geopolitical matters aligned with Western values and the challenges facing Argentina. This encounter took place as President Joe Biden attended events in Georgia and Colorado.

The Argentina new president's office released a statement noting the president-elect's commitment to freedom and the values of the West.

Sullivan, on behalf of the administration, expressed the United States' willingness to cooperate with the incoming Argentine government amid the country's complex political, economic, and social circumstances.

The White House, in its statement, outlined discussions between Sullivan and Milei on economic issues, technology, clean energy investment, human rights advocacy, and support for democracies globally.

The meeting included Juan Gonzalez, the National Security Council's senior director for the Western Hemisphere, Brian Nichols, US assistant secretary of state for Western Hemisphere affairs, and US Ambassador to Argentina Marc Stanley.

Javier Milei's $44 Billion IMF Deal

In addition to diplomatic engagements, Argentina President-elect Javier Milei faces the substantial challenge of revamping Argentina's $44 billion deal with the International Monetary Fund (IMF), Reuters reports. Support from the US, the IMF's largest shareholder, is crucial to any restructuring efforts.

Although a planned meeting between Milei and IMF Managing Director Kristalina Georgieva did not materialize, economic advisors Nicolás Posse and Luis Caputo met with the IMF's No. 2, Gita Gopinath, and other fund officials.

The IMF confirmed that discussions centered on Argentina's intricate challenges and plans for enhancing stability and sustainable growth.

Meanwhile, Milei's economic advisors also engaged with US Treasury officials to discuss Argentina new president's economic agenda.

Argentina, the largest global debtor to the IMF, is seeking to address issues stemming from a failed $57 billion program in 2018.

Argentina President-elect Javier Milei, who had previously vowed to dollarize Argentina's economy during his campaign, is currently focused on addressing fiscal deficits and inflation.

Despite stepping back from immediate dollarization, he remains committed to significant changes in the central bank's mandate, a key aspect of his campaign promises.

Argentina New President, Javier Milei's US Trip

Argentina President-elect Javier Milei's US visit, part of a two-day trip ahead of his December 10 inauguration, includes engagements beyond political discussions, Financial Times noted.

Milei, who has been attending regular classes with a rabbi since 2021, visited the tomb of influential rabbi Menachem Mendel Schneerson in New York City.

Notably, he surprised analysts by having lunch with former Democratic US President Bill Clinton, characterizing Clinton as aligned with Milei's economic reform ideas for Argentina.

The new Argentinian president's team announced that former US President Donald Trump, who has not yet met Milei, promised to visit Argentina in the near future.

Milei is set to assume office on December 10, with plans to introduce a package of "shock therapy" reforms to Argentina's congress on December 11. These reforms include spending cuts aimed at balancing the budget by 2024, and Milei has pledged to halt central bank money printing.

IMF Managing Director Georgieva expressed optimism following her initial call with Argentina new president, describing it as a "very constructive engagement" and a "good promising first step."

This article is owned by Latin Post.

Written by: Bert Hoover

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