October 25, 2014
Argentina to sign $11bn currency swap with China
Bloomberg News (*)
Cabinet Chief Jorge Capitanich said the bilateral currency swap agreed with the Asian giant accounts for u$s11 billion that will allow to give “stability” to Argentina’s international reserves.
Addressing reporters at the government house this morning, the head of minister explained the swap’s interest rate Cristina Fernández de Kirchner will be setting today with her Chinese counterpart Xi Jinping will be of “6-7 percent.”
“The country is more and more integrated in the strategic operations that allow the development of productive capacity,” Capitanich said blasting sectors that question Argentina’s alleged international “isolation.”