The aim is to double the available amount, taking it from the existing $5 billion to $10 billion, expressed in Chinese yuan. Central Bank of Argentina’s President Miguel Pesce is set to join Massa in a diplomatic visit to China on May 29, with the objective to reinforce the financial safety net. Reports indicate that Argentina has already utilized nearly $2 billion of the original $5 billion freely accessible from the swap line over April and May.
The total value of the credit line stands at almost $19 billion, translating to 130 billion yuan.
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Argentina Increases Dollarization, Seeking Yuan Swap Line
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