Argentina and China have renewed the activated part of a major currency swap line for the equivalent of $5 billion through July 2026, Argentina’s central bank said, defusing fears it may have to make major repayments over the coming month.The embattled country had faced the prospect of billions of dollars worth of repayments on the swap this month and next if it did not agree an extension with China, a potential headache for libertarian President Javier Milei with reserves depleted.
June 12, 2024
SOURCE: INVESTING
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