Argentina’s government is asking China for an expansion of its bilateral currency swap in yuan as it seeks to strengthen reserves ahead of payments due to the International Monetary Fund, people familiar with the request said.
South America’s second-largest economy is looking to ask China to increase its 130 billion yuan swap ($20.6 billion) by an additional 20 billion yuan, according to a person with knowledge of the matter, who asked not to be named because the discussions are private. Argentina has already requested the increase and the topic will be discussed next week in Beijing with Chinese President Xi Jinping when President Alberto Fernandez travels there for the Winter Olympics, a second person said.
