Argentina has defaulted 9 times but Bessent betting this one will pay off for American taxpayers. When the administration picks winners and losers, you can bet that the taxpayer is the real loser.
https://www.nytimes.com/2025/10/17/us/politics/trump-argentina-bailout-bessent.html
“If the U.S. stops providing dollars to the country, it is unlikely that they will be repaid, and Argentines will suffer,” she said. “If the U.S. decides to help Argentina regardless, it still faces the likelihood of nonpayment or endless arrears, while Argentina flounders with its unsustainable currency regime.”