Milei rejects calls to let the peso float freely despite investor pressure

Argentine President Javier Milei has rejected investor and US calls to allow the peso to float freely, insisting that the currency will remain under managed control until at least the 2027 elections. He argued that the policy is vital to prevent renewed volatility and protect economic stability.

Source Financial Times

In an interview with the Financial Times, Milei vowed to accelerate his free-market reforms and deepen ties with former US President Donald Trump, declaring: “We have to kill the socialist ideas that have ruined this country for 100 years.”

The US Treasury, which spent around $2 billion stabilizing the peso before Argentina’s midterm elections, continues to support Milei’s economic agenda. Treasury Secretary Scott Bessent confirmed Washington’s readiness to offer a $20 billion credit line and new investment opportunities in Argentine sovereign debt.

Despite market pressure, Milei maintained that Argentina will not default and expects to return to global capital markets as early as next year.