China and Argentina signed a $9 billion currency swap agreement to boost the crisis-hit South American country’s foreign currency reserves, its central bank announced Sunday.
Struggling to recover after a currency crisis earlier this year, Latin America’s third-largest economy sought the assistance of the International Monetary Fund – which approved a $56 billion loan package.
The central bank said the swap deal will “contribute to greater financial stability and also facilitate trade” between China and Argentina.
A currency swap sees two parties agree to exchange a certain amount of foreign currency at a pre-determined rate, which protects against fluctuations.
Argentina’s central bank will be able to draw on these funds in an emergency.
The agreement followed the G20 summit in Buenos Aires, as Chinese President Xi Jinping was received by his Argentine counterpart Mauricio Macri for a state visit.
The two countries signed 30 trade and financial agreements.
“We are extending cooperation on economic, agricultural, financial and infrastructure issues,” Xi told a press conference.
After Brazil, China is Argentina’s second-largest trade partner.
In 2017, the relationship was firmly in Beijing’s favor: China exported $17 billion of goods to Argentina while importing $8 billion of goods from that country.
– With reporting from Agence France-Presse
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*** 9 billion $ swap deal ***
That’s peanuts as compared to the relation we had with Cristina Fernández when she wholeheartedly introduced Argentina to the Chinese masses with all her honesty and respect when she visited Beijing just prior to her losing of the election to Mauricio Narcri.
This is how I look at things: this piece of Washington sucking Charmin’s ultra is not worth it, Beijing. Let him rot in hell until another of Evita team takes over. Simply put: he is not a friend of China, period. Why try to buy him? Just like the Vietnamese, he, too, will turn around one day and take a snap at us so why help him out?
With Fernández’s on the watch, Jiang Zhimin could’ve realised his dream of Latin America‘s partnering with us in the churning out of Pakistani JF-17’s and Pakistani JF-20’s for the Latin American market. But, in efforts to appease Washington (who put him office), he, Mauricio, killed the JF-17/JF-20 deal Fernández had so painstakingly worked out together with us (That was Hu Jintao’s term then I think.) To make America happy, he went for first generation second hand (rusty Mirages I think) instead.
This guy, Mauricio, is simply not my cup of Oolong tea so dump him, Beijing.
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*** 9 billion $ swap deal ***
That’s peanuts as compared to the relation we had with Cristina Fernández when she wholeheartedly introduced Argentina to the Chinese masses with all her honesty and respect when she visited Beijing just prior to her losing of the election to Mauricio Narcri.
This is how I look at things: this piece of Washington sucking Charmin’s ultra is not worth it, Beijing. Let him rot in hell until another of Evita team takes over. Simply put: he is not a friend of China, period. Why try to buy him? Just like the Vietnamese, he, too, will turn around one day and take a snap at us so why help him out?
With Fernández’s on the watch, Jiang Zhimin could’ve realised his dream of Latin America‘s partnering with us in the churning out of Pakistani JF-17’s and Pakistani JF-20’s for the Latin American market. But, in efforts to appease Washington (who put him office), he, Mauricio, killed the JF-17/JF-20 deal Fernández had so painstakingly worked out together with us (That was Hu Jintao’s term then I think.) To make America happy, he went for first generation second hand (rusty Mirages I think) instead.
This guy, Mauricio, is simply not my cup of Oolong tea so dump him, Beijing.
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The Argentinian will soon be beggers in their own country.Making a deal with China is like signing your soul to the devil himself…
The Argentinian will soon be beggers in their own country.Making a deal with China is like signing your soul to the devil himself…
The Burmese Generals must be firm with the Rongyas.Making sure this Rongyas don’t leave,because they will get arms and training,bring along more scavenger like the isis and start a terror campign in mynmars.Then mynmar will be another Syria.
The Burmese Generals must be firm with the Rongyas.Making sure this Rongyas don’t leave,because they will get arms and training,bring along more scavenger like the isis and start a terror campign in mynmars.Then mynmar will be another Syria.
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*** making deal with China equals giving soul to the devil***
You guys are the one that put Mauricio in power so don’t bitch.
Far as I am concern, Beijing shouldn’t have made any deal with Argentina until this guy is out of office and Fernandez’s team is back in the throne again.
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*** making deal with China equals giving soul to the devil***
You guys are the one that put Mauricio in power so don’t bitch.
Far as I am concern, Beijing shouldn’t have made any deal with Argentina until this guy is out of office and Fernandez’s team is back in the throne again.
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