Since the start of the year Argentina’s libertarian president, Javier Milei, has been dogged by allegations that his sister Karina, who is also his chief of staff, is corrupt. For a leader who made his name denouncing Argentina’s elite as crooks and parasites,

With the Peronist opposition surging in opinion polls, Milei must win at least enough seats in Congress to ensure his veto power. Otherwise, he could find himself politically defanged and presiding over a fresh economic crisis,

The bailout includes a currency swap between the U.S. Treasury and Argentina’s central bank, designed to shore up the peso and back Milei’s libertarian reforms. Trump made clear that future U.S. support is contingent on Milei remaining in power: “If he loses, we are not going to be generous with Argentina,” Trump said.