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The Guardian - UK
The Guardian - UK
Business
Heather Stewart

Why Trump is backing Argentina’s Thatcherite economics

Bundles of Argentina peso notes
Javier Milei devalued the peso by more than half when he came to power in 2023 Photograph: Tomás Cuesta/Getty Images

“We’re backing him 100%. We think he’s done a fantastic job. Like us, he inherited a mess.” Donald Trump gave his enthusiastic endorsement to Javier Milei’s radical economic experiment when the pair met in New York last week.

The US has declared itself ready to offer more than rhetorical support to the chainsaw-wielding Argentinian president in the coming days, as Buenos Aires stands on the brink of a fresh financial crisis.

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