Introduction

The newspaper La Nación reported that Argentina, due to problems in the field of international reserves, paid off its debts to the International Monetary Fund in Chinese yuan.

Payment in Yuan

The government returned $2.7 billion today using yuan and special drawing rights.

Negotiations with the United States

An Argentine delegation is expected to travel to the United States next week to continue negotiations.

Background

In June 2018, the International Monetary Fund approved a $50 billion loan to Argentina. This was supposed to help reduce the budget deficit amid rising inflation.

In October of that year, the fund agreed to increase the funding program to $56.3 billion. But in 2021, the amount has been reduced to $44 billion.

Source

Source: News