China puts brake on US$6.5-billion currency swap amid Milei tensions | Buenos Aires Times
China puts brake on US$6.5-billion currency swap amid Milei tensions | Buenos Aires Times
4
comments
it reeks with hypocrisy when you "won't negotiate with communists" then turn around and asks them for money
... with poor communists...
Why is Argentina so depending on Chinese swap money?
Because two governments ago the corrupt PRO party took 50 billion in loans from the IMF and many more billions from private lenders. They took the ratio of debt-to-GDP from 29.8% of the GDP to 68.1% of GDP. All while simultaneously killing the manufacturing industry and leaving the economy in recession. By the time their term was over and the new government took office (Dec 2019) COVID hit.