2023-10-18 12:54:00
The Minister of Economy and presidential candidate of Unión por la Patria, Sergio Massacelebrated this Wednesday the expansion of the swap con China for 6.5 billion dollars. “It is enormous news for the strengthening of Argentine reserves,” he stated.
In radio statements, Massa maintained that the new tranche of dollar loans from China “gives us a lot of room for maneuver in a context where sometimes the lack of balance, of moderation, puts people’s savings in check.” . That’s in relation to the anti-weight statements she made. Javier Miley early last week.
Massa said on Radio 10 that following the news “I spoke with the president, with Sabino (Vaca Narvaja, ambassador to China) and with Miguel Pesce (president of the Central Bank). Really for what it represents in terms of the functioning of the Argentine economy It is a very important announcement“.
“It gives us peace of mind in reserves, so that those who have cross-economic activity can accelerate import payments. Now work begins to accelerate the payment of imports and production processes. We are going to pre-cancel the maturities with the IMF and we are going to have a greater capacity for intervention by the Central Bank,” stated the Minister of Economy.
Massa spoke following the president Alberto Fernandez announced the extension of the swap. Originally, the government had asked for $5 billion, but China agreed to provide $1.5 billion more than that.
“As always, once once more the Chinese government responded to our requests and gave us very important help: expanding the swap. We had asked for 5 billion dollars and they gave us 6,500“said Fernández.
The Minister of Economy highlighted that the swap with China has a rate that is almost half of the rate that Argentina has within the framework of the loan with the International Monetary Fund (IMF). “It is an instrument to guarantee that the Argentine economy recovers faster, guarantee job creation. I’m very happy. Every time we went through a difficult time, Xi Jinping’s government was very generous to us. This allows us to finish the year calmly,” the president had said.
News in development…
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