A helping hand from China saw
Argentina avert a default with the International Monetary Fund
for the second time in 30 days, as the cash-strapped country
tapped almost $3 billion of a Beijing currency.
A helping hand from China saw Argentina avert a default with the International Monetary Fund for the second time in 30 days, as the cash-strapped country tapped almost $3 billion of a Beijing currency swap line to pay the multilateral lender. Accessing yuan to make the payment not only offered a lifeline to Latin America's third-largest economy which is battling an acute scarcity of dollars, it also allowed the Washington-based lender to keep a $44 billion program alive with its biggest single country debtor, analysts say. "China is not trying to supplant the IMF," said Matthew Mingey, a senior analyst with Rhodium Group.
Analysis: China holds the key to avoiding Argentina s IMF default The price tag is unknown reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
LONDON : A helping hand from China saw Argentina avert a default with the International Monetary Fund for the second time in 30 days, as the cash-strapped country tapped almost $3 billion of a Beijing currency swap line to pay the multilateral lender.Accessing yuan to make the payment not only offered a l
Analysis: China holds the key to avoiding Argentina s IMF default The price tag is unknown kitco.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitco.com Daily Mail and Mail on Sunday newspapers.