Deal extension allows Trump ally Argentina to borrow another $5 billion from China

teleSUR

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The Argentine Government informed this Thursday that the Central Bank of the Argentine Republic (BCRA) and the Central Bank of the People’s Republic of China (PBOC) will renew the activated tranche of the bilateral swap agreement for $5 billion. READ ALSO: Sales in supermarkets in Argentina fall 10.2% for lower consumption With an additional period of 12 months and, “amid the desire of the Government of Javier Milei to make reserves to face the …

Globo

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Settlement involves extending US$ 5 billion in exchanges for 12 months. Scott Bessent arrives in Buenos Aires on Monday and, this Friday, the IMF votes to help Argentina. Argentina renewed a portion of its exchange swap line with China, valued at US$ 18 billion (about R$ 106 billion), a few days before the visit of the Secretary of the Treasury of the United States, Scott Bessent, to the South American country. The announcement was made this Thu…

Clarin

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The agreement was revealed this Thursday through a statement from the Argentine Central Bank.

Infobae

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The Argentine monetary authority reported that the funds will be available until mid-2026, “allowing to reduce the risks in its transition to a consistent and sustainable monetary and exchange rate regime, in a challenging international context for external capital flows”

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Faced with the draining of reserves, the Central Bank managed to agree with its Chinese pair the 12-month extension of the swap, equivalent to $5.5 billion.