Argentina to Extend $5 Billion Currency Swap with China for Another Year
The central bank of Argentina and the People's Bank of China have reached an agreement to extend the current $5 billion currency swap for another year.
"The central bank and the People's Bank of China will extend the full activation portion of the currency swap agreement by 12 months," said the statement on the central bank's website.
Argentina had originally planned to begin paying this swap amount in June 2025, but it has now been postponed, allowing Argentina to use this funding for another year.
The currency swap agreement plays a crucial role in supporting Argentina's foreign exchange reserves and helps manage monetary and exchange rate policies against the backdrop of unstable global capital flows. Argentina is also negotiating a new $20 billion loan with the International Monetary Fund to stabilize its economy.
Original Source: https://www.toutiao.com/article/1829073916579971/
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