Argentina activates Chinese swap lines
Central bank says move will boost reserves but observer says it is unlikely to strengthen peso
The Central Bank of Argentina (BCRA) is activating its currency swap line with the People’s Bank of China, it announced on January 8.
The decision followed a meeting between Argentine governor Miguel Pesce and his Chinese counterpart Yi Gang at the Bank for International Settlements in Basel.
The two central banks first established these swap facilities in 2017, and expanded them to 130 billion yuan ($19.2 billion) in December 2018. In November 2022, Argentina and China agreed to add another
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