2023-05-27 21:57:22
The Minister of Economy, Sergio Massawill leave this Sunday for China together with a delegation of civil servants and legislators, among them the national deputy maximum kirchnerto participate in a new meeting of the New Development Bank (NBD) and especially, to consolidate agreements with the Asian country that expand the use of yuan provided by the swap for commercial exchanges, and thus, take pressure off the battered reserves of the Banco Central (BCRA).
According to what was officially reported, the head of the Palacio de Hacienda and his companions will arrive this Tuesday in the city of Shanghai to maintain an intense agenda, which will later continue in Baijing.
In terms of economy, Massa’s tour and the results obtained from it will be relevant to the operation of the financial and exchange market in the coming days, agitated since April by the rise in the blue dollar and the low but constant loss of Central Bank reserves.
For this reason, they reported from the Ministry, they will negotiate with China lto swap extension which is already up and running with the use of US$ 5,000 million of the approximate total of US$ 18,000 million, for the payment of imports both to the Asian giant and to Brazil.
At the same time, efforts will also be made to obtain investments in mining, rail transport of cargo and energyone of the main sectors that the government intends to promote to avoid, especially in winter, the fall in reserves due to imports.
Sergio Massa leaves for China: the key meeting to expand the swap
Sergio Massa’s stay in China will be six days long and a large list of business meetings and bilateral meetingsfrom which greater funds and investments are expected towards the country, affected in its economy due to inflation and currency instability.
Some of the companies that will meet with the minister will be CET-State Grid Corporation, the largest electricity distributor in China; Tibet Summit Resources (mining); Ganfeng Lithium, the world’s third-largest lithium producer, and Tsinghan Holding Group, a steel and nickel producer.
However, the key summit to unlock the extension of the currency swap with China, the main concern of the Ministry to overcome financial pressure and guarantee the robustness of the reserves, will be the one held by a national official with Yi Gangcurrent governor of People’s Bank of China (PBoC).
Also, it is expected that Massa, with presidential aspirations in this election year, will meet various authorities of the Government of Xi Jimingin addition to the aforementioned banking authority, such as the Minister of Finance, Liu Kun and its trading pair, Wang Wentaowho might also intercede in favor of Argentina.
Another relevant meeting, on which expectations are placed, will be the one that Massa will hold with the former president of Brazil and current holder of the New Development Bank of the Brics, Dilma Roussefnext Thursday in Shanghai.
Sergio Massa leaves for China: who will accompany the minister
In the entourage that will leave in the next few hours, along with Massa, will also be his Transport partner, Diego Giuliano; the president of the BCRA, Miguel Pesce, the Deputy Chief of Staff Juan Manuel Olmos, the Secretaries of Energy and Agriculture, Flavia Royon and Juan José Bahillo, and the Secretary of Economic and Financial Affairs, Marco Lavagna.
Politics, outside the areas of government, will also have representation and highlights the presence of the national deputy and president of the Buenos Aires PJ, maximum kirchnerwho was invited by the Minister of Economy himself as a gesture of closeness, with possible repercussions within the Frente de Todos.
Finally, together with the son of the vice president, the head of the Chamber of Deputies, Cecilia Moreau, and the national legislators, Paula Penacca and Diego Sartori, will travel.
Source: Telam
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