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China to the rescue of
Argentina with a 10 billion
dollars equivalent swap

MercoPress [Montevideo, Uruguay], by Staff

Original Article

Posted By:PageTurner, 5/13/2013 9:09:09 PM

Argentina is negotiating with China a new 10 billon dollars equivalent swap of international reserves support based on the experience of 2009 when the global financial crisis. The new accord should theoretically help Argentina strengthen its international position vis-à-vis the run on the dollar (or the flight from the Peso) and which has cost the Central bank 4 billion dollars so far this year.According to Buenos Aires financial media the issue was addressed and advanced last Friday when President Cristina Fernandez met visiting Vice-president Li Yuanchao

Comments:
China buys itself a colony. Argy gets away with being irresponsible again.

      


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Reply 1 - Posted by: ColonialAmerican1623, 5/13/2013 11:24:31 PM     (No. 9325575)

The one owning the most countries wins.



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