Argentina has renewed a line of swap activated by $ 5 billion with China for another year, the country’s central bank declared on Thursday, strengthening the small international reserves.
More resources of the Internazional Monetary Fund (IMF) could soon enter.
Argentina has long maintained a 18 billion dollar swap line with China, although the part activated by $ 5 billion should end in June. The activated line will be renewed completely until half -2026.
The renewal of the Swap line with China will allow the Argentine central bank to protect from risks while it passes to “coherent and sustainable monetary and monetary policies”, in the midst of a difficult global environment, said the monetary authority in a note.
Argentina could receive an even greater disbursement of the IMF in the next few days. The administrators of the institution based in Washington is expected to vote for a loan agreement of $ 20 billion in Argentina on Friday, with an initial payment of at least $ 8 billion.
Source: Terra
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