(Bloomberg) — Former Treasury Secretary Lawrence Summers
said it’s too early to judge the Trump administration’s rescue
plan for Argentina, while highlighting that it has incorporated
unconventional elements that raise questions.
“I’m withholding judgment at this point, but am nervous
about the approach that’s being pursued,” Summers said on
Bloomberg Television’s Wall Street Week with David Westin. “The
tactics used in this bailout are new and raise questions, and
we’ll have to see how it all plays out over time.” He flagged
that there may be agreements not publicly known about US help
that “make this sounder than it appears.”

Treasury Secretary Scott Bessent has led US efforts to
support Argentina, which has been battling to support its
exchange rate amid investor fears over the South American
nation’s economic outlook. The US intervened Thursday to buy
Argentina pesos and finalized a $20 billion currency swap
framework with Buenos Aires. Bessent also pledged “whatever
exceptional measures are warranted to provide stability to
markets.”  READ MORE