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Argentina-China Renew $19 Billion Currency Swap Despite US Pressure
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Argentina-China Renew $19 Billion Currency Swap Despite US Pressure
Last week, the Argentine Central Bank and People’s Bank of China (PBOC) sealed the deal by signing an agreement to extend the 130 billion yuan line a day before it was set to expire. Argentina has renewed its currency swap with China for another five years, thereby preserving a $19 billion lifeline that the US has been pressing Buenos Aires authorities to hand over. A currency swap refers to the standing credit line between the central banks of …
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