For those who don’t want to read the entire thing here’s what is in my opinion the most relevant section:
>Some U.S. hedge-fund billionaires, [personally close to Bessent](https://paulkrugman.substack.com/p/bailing-out-bessents-buddies-bets), bet big on Milei and bought Argentine bonds. The bailout package almost surely won’t succeed in turning Argentina’s economy around and probably won’t rescue Milei politically. But it may buy enough time for Bessent’s buddies to get much of their money out before the bottom falls out of the Argentine economy.
Basically shows that this deal is partly motivated by Bessent bailing out people close to him.
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For those who don’t want to read the entire thing here’s what is in my opinion the most relevant section:
>Some U.S. hedge-fund billionaires, [personally close to Bessent](https://paulkrugman.substack.com/p/bailing-out-bessents-buddies-bets), bet big on Milei and bought Argentine bonds. The bailout package almost surely won’t succeed in turning Argentina’s economy around and probably won’t rescue Milei politically. But it may buy enough time for Bessent’s buddies to get much of their money out before the bottom falls out of the Argentine economy.
Basically shows that this deal is partly motivated by Bessent bailing out people close to him.