Argentina’s Central Bank renews a bilateral currency swap agreement with the People’s Bank of China for five years, extending the arrangement beyond its prior term. Multiple outlets report the swap is worth about US$19 billion and involves a credit line of 130 billion yuan. The extension is signed by the two central banks and takes effect as the previous deal is set to expire. According to the Central Bank’s announcement cited by outlets, the renewal is intended to provide “greater predictability.”
Reporting indicates the new agreement period runs until 2031, which is described as longer than earlier renewals since the swap was first signed in 2009. One outlet also notes the renewal occurs amid diplomatic pressure from the United States and frames the decision as maintaining an existing financial “lifeline,” though the other sources focus primarily on the swap’s terms and renewal timing.
Overall, the coverage agrees that the renewal preserves access to the swap facility, extending its duration and ensuring continuity in the central bank-to-central bank arrangement.
