Argentina and China negotiate swaps extension to support Central Bank reserves

It is not an easy negotiation. Since the beginning of the year, the yuan's devaluation against the dollar has already subtracted more than US$1.1 billion from the Argentine Central Bank (BCRA) reserves. It is taking place in a context of high vulnerability for the BCRA amid political uncertainty.

RIO DE JANEIRO, BRAZIL - Amid a climate of financial uncertainty and with the reserves of the Argentine Central Bank (BCRA) at the limit, Argentina is negotiating with China an extension of swaps to swell the national funds and eventually use this draft for debt . . .

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