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 components 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 individuals 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 consequence?” Raskin wrote.
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Rep. Jamie Raskin, D-Md., left, and U.S. Treasury Secretary Scott Bessent (Andrew Harnik/Getty; Aaron Schwartz/Getty Photos / Getty Photos)
Citrone didn’t reply to a number of requests for remark.
Russell Dye, a spokesperson for the Republican Judiciary Committee, stated the letter represented simply the latest instance of Democrats’ fixation on critiquing the administration’s choices.
“Democrats ought to deal with opening the federal government and paying federal staff, a lot of whom reside in rating member Raskin’s district, somewhat than obsessing over President Trump. However, sadly, their precedence will all the time be attacking President Trump as an alternative of paying the troops, air visitors controllers and households who’re hurting,” Dye stated.
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The Trump administration introduced that it facilitated $20 billion in personal financing for Argentina alongside a $20 billion forex swap, offering a monetary backstop for a rustic that has struggled for years to search out its footing amid excessive inflation. The funding goals to assist Argentina handle its money owed as the worth of its forex, 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 carefully 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 Photos)
However extra than simply the political undercurrents, Democrats like Raskin argue that some figures near the administration — like Citrone — could obtain collateral advantages consequently.
“In October 2024, you stated that ‘the likelihood of default in Argentina is minuscule.’ But, prior to now couple of months, a run on the Argentinian peso has put the nation’s financial system — and your hedge fund’s large investments — on the point of collapse. All of the sudden, President Trump and Secretary Bessent introduced america 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.
Based on the reporting from the Securities and Change Fee (SEC), Discovery Capital’s publicity to Argentina is excessive, however not as excessive because it was. Discovery’s investments with corporations based mostly in or conducting enterprise in Argentina have scaled down since December 2024. The fund’s investments in 2025 are tens of hundreds of thousands of {dollars} beneath 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 Photograph / AP Photos)
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 hundreds of thousands of federal staff — together with legislation enforcement and air visitors controllers — of their paychecks and is threatening authorities applications important to the American individuals. 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 supplied to lawmakers no later than Nov. 14.