After the two -way officials met in Beijing on Friday (June 2), China will allow Argentina to use more funds at 130 billion yuan (Same, 24.8 billion yuan) monetary exchange quotas.
According to Bloomberg, the Argentine Central Bank announced that China allows Argentina to use funds of no more than 70 billion yuan under the exchange quota.Earlier, the upper limit of funds used by Argentina was about 35 billion yuan.
The above decision provides more breathing space for Argentine Economic Minister Sergio Massa.Argentina will hold a presidential election over this year, and the selling situation of peso will help Argentina's inflation rate trapped in the shortage of funds reaching 100%.
After Massa and the President of the People's Bank of China Yi Gang held talks on Friday, they ended a week of visit to China.According to the Shanghai Securities Journal, according to the People's Bank of China on June 2, on June 2, 2023, Yi Gang, President of the People's Bank of China, met with the visiting Argentine Economic Minister Selhio Massa and the central bank governor Miegel.· Percer's party exchanged opinions on issues such as economic and financial situations and promoting financial cooperation.
Bloomberg reports that as Chinese officials have promoted reducing global dependence on the US dollar, geopolitical factors have become considered factors for the meeting.At the same time, Masa Zheng re -negotiated with the International Monetary Fund to provide Argentine with $ 44 billion (S $ 59.4 billion) debt recycling plans.
Although the exchange quota is all included in Argentina's reserves, the Argentine government is actually allowed to use some of them.With new funds, Massachusetts can intervene in Argentina's parallel exchange rate to control the huge gap between the parallel exchange rate and the official interest rate.
