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China expands currency swap with Argentina

China expands currency swap with Argentina

November 16, 2022 | Charles Newbery
Additional $5 bln will help the South American government shore up sagging central bank reserves

Corporate & Sovereign Strategy Economy & Policy Debt Argentina China Project & Infrastructure Finance Electricity Hydro Loans

Argentine President Alberto Fernández said Tuesday that China has approved a $5 billion increase in a currency swap line for the South American country, a key for bolstering its foreign currency reserves to protect the local currency against depreciation. Fernández announced the deal in a press conference after meeting with President Xi Jinping of China during the G20 summit in Indonesia. "We had a good meeting," he said. "President Xi explained to me that it was an absolute exception that China

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