‘Important ally’Bessent wrote that Argentina "is a systemically important US ally in Latin America" and Washington was confident Milei's "support for fiscal discipline and pro-growth reforms are necessary to break Argentina’s long history of decline." Argentina, which has a track record of economic crises and hyperinflation, is the IMF's biggest debtor. Argentina is one of the world's leading food producers and ranks among the top exporters of soybeans and soybean products. Nicolás Pino, president of the Sociedad Rural Argentina (SRA) agricultural producers' association, said the tax should be permanently scrapped for Argentina's biggest export sector. “Argentina clearly needs dollars, and dollars from the agricultural sector are welcome,” Pino noted.