Argentine President Javier Milei will meet US President Donald Trump at the White House on October 14, less than two weeks before congressional elections that could determine the fate of the libertarian leader's economic reforms.

The bilateral meeting, confirmed by Argentina's foreign ministry on September 30, follows a previous one on the sidelines of the UNGA last week and represents the latest sign of deepening ties between the ideological allies as Washington deploys an array of financial instruments to support Buenos Aires's beleaguered economy.

Milei announced the visit in characteristically terse fashion on X, writing simply: "MEETING AT THE WHITE HOUSE. End."

The timing was reportedly set by US Treasury Secretary Scott Bessent, who has been negotiating a potential $20bn currency swap arrangement with Argentine officials since high-stakes talks between the two presidents in New York last month.

Milei will stay at Blair House, the official residence for visiting heads of state—a diplomatic gesture typically reserved for Washington's closest allies, according to Agencia Noticias Argentinas.

Argentina's foreign ministry framed the visit as an opportunity to consolidate what it called the "excellent bilateral relationship" between the two nations, based on "shared values and a shared commitment to freedom, democracy, and the prosperity of our peoples".

But the White House meeting comes at a precarious moment for Milei, whose La Libertad Avanza party suffered a devastating electoral defeat in Buenos Aires province last month whilst his sister and close adviser Karina faced corruption allegations. Legislative rebellions have since successfully overturned presidential vetoes on spending measures, triggering capital flight that forced monetary authorities to exhaust roughly $1bn in hard currency reserves within 48 hours in mid-September.

The proposed US support package would include Treasury purchases of Argentine sovereign bonds and substantial emergency financing through the Exchange Stabilisation Fund. The IMF has expressed support for such an arrangement—a critical development given Argentina's need to continue meeting requirements of its existing $44bn Fund programme.

Yet fundamental vulnerabilities persist. Despite recent market rallies following Bessent's declarations of support, Argentine eurobonds continue yielding between 16 and 26% across the curve—levels that effectively lock the country out of international capital markets. Net international reserves remain at what the IMF describes as "critically low" levels.

The intervention reflects Washington's determination to prevent Beijing from expanding its financial footprint in South America, where Argentina represents what Bessent has termed a "systemically important" ally. This geopolitical dimension has gained prominence as tensions mount between Washington and leftist Brazilian President Lula da Silva, making Argentine alignment increasingly valuable.

Market participants recognise that whilst American financial firepower might temporarily stabilise the peso, Argentina's economic trajectory depends on domestic political dynamics. Should the October 26 elections confirm a legislative gridlock in Congress and diminish Milei's prospects for re-election in 2027, even substantial US backing may prove insufficient to prevent renewed crisis.

Despite achieving monthly inflation below 2% for four consecutive periods, Milei's stabilisation has come through severe recession and wage compression, with many workers and pensioners experiencing declining purchasing power compared to early 2023 levels.