Jun 13, 2024 05:00 AM
WORLD
Argentina Central Bank Says China Swap Renewed Until July 2026
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China’s swap is the largest source of foreign gross reserves in Argentina’s central bank
(Bloomberg) — The Argentine Central Bank has renewed a roughly $5 billion portion of its currency swap line with the People’s Bank of China for another two years, the monetary authority said in a statement Wednesday.
Starting in mid-2025, Argentina will begin to gradually pay down the activated portion of the $18 billion currency swap over a 12-month period, pushing out maturities that were scheduled for this June and July, according to the statement.
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