Exclusive-Argentina to use IMF money to pay back part of a currency swap with China -sources

Argentina plans to use a $7.5 billion disbursement from the International Monetary Fund to repay part of the money it borrowed from China through a currency swap line.

yahoo.com

Relevant topic timeline:

8/23/2023

Argentina secures $7.5 bln disbursement from IMF

The International Monetary Fund (IMF) has approved the disbursement of $7.5 billion for Argentina after completing the fifth and sixth reviews of their $44 billion program, bringing the total disbursements to $36 billion, with most of the cash being used to pay back the fund for another program.

8/23/2023

Buenos Aires Times

Argentina's Economy Minister Sergio Massa announced that the World Bank and Inter-American Development Bank have approved loans worth $1.3 billion for Argentina, with the purpose of financing development projects and strengthening reserves at the Central Bank.

8/23/2023

Brazil proposes yuan guarantees in trade with Argentina amid dollar shortage

Brazil's finance minister has proposed using Chinese yuan guarantees to reduce trade risks with Argentina, as the country faces a dollar shortage and its currency, the peso, continues to perform poorly in the global market.

8/27/2023

Argentina offers financial aid to crisis-hit workers and pensioners

Argentina's government announced a series of benefits, including cash payments for pensioners and loans for workers, in an effort to mitigate the economic crisis caused by inflation and currency devaluation.

9/13/2023

Argentina weighs pros and cons of ditching peso for dollar like Ecuador

Argentina's dollar scarcity should not prevent the country from adopting the dollar as its currency, according to economist Francisco Zalles, who believes that dollars would flow back into Argentina once it makes the switch and that Javier Milei's plan to dollarize would be successful. However, other commentators have warned that adopting the dollar without ample reserves could have catastrophic consequences.

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Posted 8/24/2023, 5:30:00 AM

Exclusive-Argentina to use IMF money to pay back part of a currency swap with China -sources

Argentina plans to use a $7.5 billion disbursement from the International Monetary Fund to repay part of the money it borrowed from China through a currency swap line.

yahoo.com

Relevant topic timeline:

8/23/2023

Argentina secures $7.5 bln disbursement from IMF

8/23/2023

Buenos Aires Times

8/23/2023

Brazil proposes yuan guarantees in trade with Argentina amid dollar shortage

8/27/2023

Argentina offers financial aid to crisis-hit workers and pensioners

9/13/2023

Argentina weighs pros and cons of ditching peso for dollar like Ecuador