Former U.S. President Donald Trump has publicly tied continuation of American financial backing for Argentina to the electoral fortunes of President Javier Milei, warning that “if he doesn’t win, we’re gone”.

The declaration came as the U.S. finalizes a $20 billion currency swap package aimed at stabilizing Argentina’s economy before midterm elections scheduled for October 26.

At a White House meeting with Milei, Trump stressed that the aid is contingent on Milei’s political strength: “If he wins, we’re staying with him.

And if he doesn’t win, we’re gone”.

The U.S. Treasury, under Secretary Scott Bessent, recently intervened to support the Argentine peso and forged the $20 billion swap line amid market turmoil.

Treasury officials contend that the support is structured as a swap rather than a direct capital infusion—meaning Argentina receives dollars now in exchange for its pesos, to be swapped back later.

Bessent emphasized that the U.S. is not investing cash outright into Argentina’s budget.

Critics in both Argentina and the United States view the linkage of aid to political outcomes as interventionist.

Some lawmakers argue the policy undermines democratic norms and risks destabilizing institutional impartiality.

Milei’s government responded by stressing that U.S. support reflects shared commitment to free-market reforms rather than mere political expedience.

Despite the conditions Trump set, communication lines remain open.

The White House and Argentine officials have scheduled meetings during upcoming International Monetary Fund and World Bank gatherings.

As the election approaches, the future of U.S. aid—and Argentina’s economic trajectory—rests increasingly on political dynamics in Buenos Aires.