Yuan swap deal with Argentina boosts China’s presence in Latin America

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The Central Bank of Argentina and the People’s Bank of China signed off an expansion of their currency swap deal on December 2.

The deal increases by 60 billion yuan ($8.7 billion) the existing line between both central banks, first approved in July 2017. The swap line now amounts to 130 billion yuan ($19 billion).

The agreement was reached in the wake of a bilateral summit in Buenos Aires, which aimed to deepen the ties between both economies. The authorities also announced Chinese

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