Argentina renews $19bn China currency swap despite US pressure
Argentina's central bank and China's central bank extended a $19 billion currency swap line for five years, defying US calls to abandon the arrangement.
Updated last month3 new reports, including Wired, CGTN, The New York Times.
In breve
Argentina renewed a $19 billion currency swap with China for five years. The deal, which runs to 2031, preserves a financial lifeline that Washington had spent over a year urging Buenos Aires to abandon.
Argentina's central bank and the People’s Bank of China signed an extension of a 130 billion yuan currency swap line on August 5, 2026.1 The existing swap deal was due to expire on August 6, 2026, and the new term runs to 2031.1 The swap line is valued at approximately $19 billion at current exchange rates.1
The extension is two years longer than any previous term of the swap agreement.1 Washington had spent more than a year pressing Argentina to give up the currency swap with China.1 Argentina renewed the swap despite US pressure to abandon the arrangement.1
The Argentine central bank and the People’s Bank of China signed the extension a day before the existing deal was due to expire.1 China and the United States are clashing diplomatically in Argentina as President Javier Milei balances ties with Washington and Beijing.2 President Javier Milei has sought to preserve a close alliance with Washington while pursuing deeper economic ties with Beijing.2
Perché è importante
A currency swap is an agreement between two central banks to exchange currencies at a fixed exchange rate, often used to provide liquidity or stabilize financial markets.1
The swap line with China provides Argentina with access to yuan-denominated funds, which can be used to settle trade or stabilize reserves without relying solely on US dollars.1
Questo testo è stato scritto dai 2 servizi elencati qui sotto, pubblicati da 2 testate indipendenti, e verificato riga per riga. Non è la copia di nessuno di essi. Hai notato un errore? Segnalacelo.
Discussion
0Comments are screened automatically. Disagreement is fine; abuse and spam are not.
Loading…
Related
US, Iran, Oman near Hormuz deal to resume shipping
A 60-day agreement to reopen the Strait of Hormuz without tolls is under final review, with US and Iranian officials indicating a deal could be announced within days.
US imposes 15% tariff on polysilicon to counter China
New 15% tariff and price floors aim to reduce reliance on Chinese-dominated polysilicon supply chain for solar panels and semiconductors.
Il Brasile allenta i rapporti con l’Argentina in seguito alle critiche di Milei
Il Ministero degli Esteri brasiliano giustifica la decisione con gli “insulti” rivolti dal presidente argentino Javier Milei al presidente Lula; l’Argentina nega motivazioni ideologiche e chiede il ritorno del rappresentante brasiliano
Fotografía oficial de la Presidencia de Colombia / Public domainPope Leo XIV to visit Peru, Argentina, Uruguay in November
The trip marks the first papal visit to Latin America since Leo XIV became pope, including a return to Peru where he served as bishop for eight years.