Comments from US President Trump this week suggest the financial support for Argentina will be contingent on Milei doing well in the mid-terms later this month. A strong showing for Milei's party would also increase the chances of an orderly move to a more flexible exchange rate. Elsewhere, China’s restriction of rear earth exports has shifted attention to whether Brazil could step in given the country's large reserves. Granting the US greater access to these reserves could play a key part in efforts to mend relations between both countries although President Lula has stated that Brazil will rule out any exploitative deal.
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