The head of the Central Bank, Miguel Pesce, He had indicated a few weeks ago that “we seek an extension and expansion in use.” The first agreement between the two central banks was established in 2009. In 2014 was signed a second agreement, which was renovated in 2017 and supplemented in late 2018 with a supplementary agreement.
The swap is used by many central banks in the world and allows increase reserves at no cost, since it is a currency swap not a loan, but if you want to use for other purposes must pay an interest rate (Shibor) of 7 points. “We want to expand applications without having to pay the Shibor rate,” said the official source.
As for SDRs, it should be remembered that this China is one of the most important partners of the IMF and has a share in the body of 6% Argentina seeks to receive these funds when the multilateral finished defining your application.
The meeting between the two leaders lasted over an hour, “despite being scheduled to be 20 minutes,” they commented on the presidential entourage. “It was a relaxed meeting, more than an hour, when with the rest of the Xi Jinping leaders spent about 20 minutes” They maintain and add to characterize the tone of the meeting to “They exchanged jokes”.
“There was a lot of enthusiasm”, Say sources. They point out that the first meeting had ceremonial character, at which time President Fernández He thanked the Chinese government sending vaccines against COVID.
However, the meeting began to relax when Fernandez told him that Argentina made a food delivery in the 50s during the presidency of Juan Domingo Peron and the order was made to the Minister of Economy, Antonio CafieroGrandfather of the current foreign minister, santiago cafiero.
At that time he began a dialogue “Very cordial”. Xi Jinping told him that he had listened to Fernandez’s speech on the occasion of the Chinese 50th Anniversary and that he had thought “very interesting”.
This led Fernandez to tell the story of the Peronist movement had always tried sought to Argentina was more industrialized country, with distribution of income and empowerment of the working class. However, delegation sources said Ámbito Fernandez said “Every now and then it came a miliary coup or liberal policies pushed back and that the last of these was that of the government of Mauricio Macri and the loan had asked the IMF.”
The first Argentine president also asked Xi Jinping that Support Argentina’s income to the BRICS group. This acronym was created in 2008 and refers to Brazil, Russia, India, China and South Africa, countries considered emerging that have the potential to be among the dominant economies are characterized by very large countries, the most populous of the planet and are rich in natural resources.
In this regard, the response of the Chinese leader was positive, “I said he would support”. In the entourage they are happy because they already have the backing of two major countries for entry: China and Russia.
Xi Jinping also pointed out that, of the three big countries of Latin America, Argentina is the first to sign the accession to the Silk Road (Still did not Mexico and Brazil) and that this “For China it was very important.”
As a brooch of this “cordial” meeting, Fernandez told Xi Jinping “If you were Peronist Argentina would be.”
In addition to the first leaders of the meeting was attended by China, Ding Xuexiang, member of the Political Bureau of the Central Committee of the CPC, member of the Secretariat of the Central Committee Central Committee of the Communist Party of China (CPC) and director of the General Office of the Committee Central of the CPC, Yang Jiechi, member of the Political Bureau of the CPC and director of the Office of the Committee on Foreign Affairs of the Central Committee of the CPC, Wang Yi, State Councilor and Minister of Foreign Affairs of China, He Lifeng, president of the Commission National Development and Reform Commission of China, Wang Wentao, Minister of Commerce of China, Ma Zhaoxu, Deputy Foreign Minister of China and Hu Chunying, Deputy Minister for Foreign Affairs of China.
Argentina was attended by Foreign Minister Santiago Cafiero, governor of Rio Black, Arabela Carreras; the governor of Buenos Aires, Axel Kicillof, Senator Adolfo Rodriguez Saa and Deputy Eduardo Valdes.
At 9 in the morning the entourage took off from China bound for Barbados.
Source: Ambito
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