Caixin
Aug 23, 2023 07:52 PM
FINANCE

China-Argentina Currency Swap Poses Risks and Opportunities, Economist Says

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What’s new: The currency swap deal between China and Argentina that the Latin American country recently tapped to repay a portion of an international debt in yuan poses risks that need to be examined, prominent economist Yu Yongding told Caixin.

The primary risk in such a swap deal is that the other country may default, rather than the possibility that it will lead the yuan to depreciate, said Yu, who is a member of the Chinese Academy of Social Sciences.

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