President Javier Milli aimed to convince investors in New York on Tuesday that Argentina’s economic turnaround could remain on track even as the war in Iran rattled markets, saying the central bank would soon be flush with dollars.

Millay spoke to investors and executives at JPMorgan’s new headquarters in midtown Manhattan as part of “Argentina Week,” a New York roadshow to convince financiers that the South American country’s stabilization effort is a compelling investment story despite a tense global backdrop.

“We went from net energy importers to net exporters against what I think is a temporary setback to what’s going on in the world,” Milley said. “The temporary change in terms of trade will benefit our external accounts.” “Get ready, Santiago,” he added, looking at central bank chief Santiago Bausili. “Dollars will come out of your ears.”

The US Government support has become a key part of Miley’s pitch to investors. President Donald Trump’s administration publicly endorsed Miley ahead of Argentina’s October 2025 midterm elections and expanded financial cooperation with Buenos Aires. The liquidity facility championed by the United States helped avoid a run on the peso ahead of that vote.

The US investment including critical mineral sector.

The closer alignment with the United States marks a shift after years in which China expanded its economic footprint across South America. China is one of Argentina’s largest trading partners and a major creditor.

Oil prices have soared nearly 30% this month to around $90 a barrel due to the US-Israeli war with Iran, while a flight to safety has strengthened the dollar and driven some investors away from emerging markets. The dollar has gained more than 4% against developed currencies since the end of January, while the EM currency index has surrendered its gains for the year.

Last week, Argentina’s domestic stock benchmark hit its lowest level since October, while yields on dollar bonds in US Treasuries widened in line with global benchmarks.

“A geographically tight world favors the investment case for Argentina, as long as it forces countries to refocus on food, energy and technological security, all areas where Argentina can help,” said Alejo Czerwonko, chief investment officer for emerging markets Americas at UBS Global Wealth Management.

“At the same time, a period of intense conflict like the one we’re experiencing right now with Iran doesn’t help almost any emerging market, because it removes a serious threat from stability concerns.”

Restore economic stability

Argentina’s government says aggressive spending cuts, deregulation and fiscal austerity have begun to restore macroeconomic stability after years of deficits, a currency crisis and rapid inflation.

Investors have cautiously welcomed the adjustment and recent reforms, including a congressional-approved labor overhaul that marked a major legislative victory for Miley.

Still, Argentina must rebuild foreign exchange reserves, attract long-term investment and regain reliable access to international capital markets after years of default and capital controls—some of which remain in place.

Officials hope Argentina Week, which will also host Economy Minister Luis Caputo and Deregulation Minister Federico Sturzenegger, will help demonstrate that reforms are translating into investment opportunities, particularly in sectors such as energy, mining, agriculture and technology.

For Miley, the challenge is convincing investors that Argentina’s reforms deserve attention even amid a flight to safety.

“They’re just reiterating investment opportunities in Argentina and sending a message of macroeconomic and political stability,” Armando Armenta, senior economist and strategist at AllianceBernstein, said of the roadshow. “It’s good that they are doing this because Argentina has been out of the spotlight for a long time.”