President Donald Trump hosts Argentinian President Javier Milei on the White Home to debate world affairs.
FIRST ON FOX: The highest Democrat on the Home Judiciary Committee is demanding elevated transparency from the Trump administration on the elements that led it to make its multibillion-dollar gamble on Argentina.
In a letter despatched Friday to Treasury Secretary Scott Bessent and Robert Citrone, the supervisor of Discovery Capital Administration LLC, Rep. Jamie Raskin, D-Md., requested particulars about their relationship after the Trump administration’s announcement of the deal earlier this month.
Raskin, the rating member on the Home Judiciary Committee, requested to see any correspondence between Bessent and Citrone on Argentina, the funding and Citrone’s holdings within the nation.
“It’s crucial that the American folks have a full understanding of why, within the midst of a authorities shutdown, this administration has chosen to orchestrate a $40 billion bailout to Argentina. What particular preparations had been made to perform this astounding end result?” Raskin wrote.
Rep. Jamie Raskin, D-Md., left, and U.S. Treasury Secretary Scott Bessent (Andrew Harnik/Getty; Aaron Schwartz/Getty Photographs / Getty Photographs)
Citrone didn’t reply to a number of requests for remark.
Russell Dye, a spokesperson for the Republican Judiciary Committee, mentioned the letter represented simply the newest instance of Democrats’ fixation on critiquing the administration’s selections.
“Democrats ought to concentrate on opening the federal government and paying federal employees, a lot of whom stay in rating member Raskin’s district, quite than obsessing over President Trump. However, sadly, their precedence will at all times be attacking President Trump as an alternative of paying the troops, air visitors controllers and households who’re hurting,” Dye mentioned.
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The Trump administration introduced that it facilitated $20 billion in personal financing for Argentina alongside a $20 billion foreign money swap, offering a monetary backstop for a rustic that has struggled for years to seek out its footing amid excessive inflation. The funding goals to assist Argentina handle its money owed as the worth of its foreign money, the Argentine peso, continues to fluctuate.
The choice to direct American {dollars} towards Argentina raised accusations from Democrats that the funding carried political undertones meant to profit Argentine President Javier Milei, a determine intently aligned with the Trump administration. Like Trump, Milei entered workplace in 2023 with guarantees to shrink the federal government’s footprint and convey down the nation’s prices.
Robert Citrone attends a dinner benefiting the Prostate Most cancers Basis in New York Metropolis, Nov. 15, 2022. (Jared Siskin/Getty Photographs)
However extra than simply the political undercurrents, Democrats like Raskin argue that some figures near the administration — like Citrone — could obtain collateral advantages because of this.
“In October 2024, you mentioned that ‘the likelihood of default in Argentina is miniscule.’ But, up to now couple of months, a run on the Argentinian peso has put the nation’s financial system — and your hedge fund’s huge investments — getting ready to collapse. Abruptly, President Trump and Secretary Bessent introduced the USA would take ‘distinctive measures’ to stabilize Argentina’s markets. The overall quantity of help for Argentina is a whopping $40 billion,” Raskin wrote.
Citrone and Bessent beforehand labored collectively for George Soros in 2013, in line with statements Citrone made in a Goldman Sachs podcast.
In line with the reporting from the Securities and Trade Fee (SEC), Discovery Capital’s publicity to Argentina is excessive, however not as excessive because it was once. Discovery’s investments with corporations primarily based in or conducting enterprise in Argentina have scaled down since December 2024. The fund’s investments in 2025 are tens of tens of millions of {dollars} under ranges from a yr earlier than. Citrone’s publicity in reference to Argentina continues to be north of $100 million, in line with the SEC.
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Treasury Secretary Scott Bessent speaks with reporters on the White Home in Washington. (Alex Brandon/AP Picture / AP Photographs)
Along with demanding extra details about Bessent’s considering on Argentina, Raskin blasted the choice to spend money on Argentina throughout an ongoing, 31-day authorities shutdown.
“The Republican authorities shutdown has disadvantaged tens of millions of federal employees — together with regulation enforcement and air visitors controllers — of their paychecks and is threatening authorities applications very important to the American folks. However, within the midst of this government-created disaster, the Trump administration has chosen to rearrange a $40 billion bailout to Argentina — half of it funded with taxpayer cash,” Raskin wrote.
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Raskin requested that the paperwork be offered to lawmakers no later than Nov. 14.
