And why?

Because the witless Trump believed his pal Macri would "lose the 2019 elections" otherwise.

But of course, Macri was through anyway.

And the $45 billion (80% of it) was instead used to finance the mass dollarizing and offshoring of local assets by foreign, short-term speculators and Argentine elites - most of them, staunch Macri backers.

Leaving Argentina stuck with the bill.

So, yes: Biden's policy has been to help them - slowly - pay their way out of it. It's the smart - and fair - thing to do.