The Argentine government announced on Wednesday (April 26) that it will begin to pay Chinese imported goods with RMB instead of US dollars to alleviate Argentina's decreased US dollar reserves.
The Pionee Pionee Pioneer of Complex Reuters and Argentina's Buenos Aires reported that the Argentine government said in a statement that the Argentine government's goal is to use RMB to pay about $ 1 billion in April (China's imported goods with approximately 1.335 billion yuan) will have paid imported goods worth about $ 790 million every month every month.
Argentine Economic Minister Massa said in an event with the Chinese ambassador to the Chinese Argentine Ambassador Zou Xiaoli and the representative of various industry companies that the decision was designed to alleviate the US dollar outflow.
Agence France -Presse and Reuters reported that the export of agricultural products declined sharply dueCoupled with domestic inflation, Argentina is fighting the critical level of the US dollar reserve.At present, Argentina has implemented foreign exchange control to limit the impact of the financial crisis.
Massa said that the decision to pay for RMB "improves the prospect of Argentina's net reserve" and also gives Argentina's larger operation capabilities.He also said that import orders paid by RMB will be approved within 90 days, not usually 180 days.
