Yuan swap deal with Argentina boosts China’s presence in Latin America
Agreement expands existing line by 60 billion yuan to 130 billion
The Central Bank of Argentina and the People’s Bank of China signed off an expansion of their currency swap deal on December 2.
The deal increases by 60 billion yuan ($8.7 billion) the existing line between both central banks, first approved in July 2017. The swap line now amounts to 130 billion yuan ($19 billion).
The agreement was reached in the wake of a bilateral summit in Buenos Aires, which aimed to deepen the ties between both economies. The authorities also announced Chinese
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