Argentina plans to repay some yuan borrowings from Chinese currency swap using IMF bailout money

Thu, 08/24/2023 - 13:16

FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee — Headquarters of the PBOC, the central bank, is pictured in Beijing
Reuters

Argentina secured $7.5 billion from the International Monetary Fund on Wednesday.
Some of the funds will be used to partially pay China back, sources told Reuters.
It will also be used to reimburse Qatar and the Development Bank of Latin America.

The $7.5 billion disbursement that Argentina secured from the International Monetary Fund this week will go towards partially repaying China for currency swap line borrowings, sources told Reuters.