(Reuters) – Argentina and China’s monetary authorities have renewed a swap line for the equivalent of $5 billion through July 2026, Argentina’s central bank said on Wednesday.
The central bank said in a statement that it would renew the full amount for 12 months, and then gradually ramp down over the following 12 months, when it would let the agreement expire.
The swap line’s activation allowed the Argentine central bank to manage payment flows “at critical times for the domestic economy,” it said.
Its extension “reinforces the commitment assumed by the central bank’s current management to overcome the external payment crisis,” it added.
(Reporting by Kylie Madry; editing by Jonathan Oatis and Sandra Maler)
