A currency swap with the PBoC together with a loan from the Development Bank of Latin America helps Argentine central bank to meet $3.7 billion obligation to IMF.
IMF enslavement
The International Monetary Fund (IMF) was established after the Bretton Woods agreement, and since then has provided loans to developing countries, however some have pointed out that the loans have served to export the dollar and enslave countries with repayments rather than help them to develop.
Argentina is one of the most indebted countries in the world, having defaulted many times in its torrid financial history. The latest default avoidance was made possible by the People’s Bank of China stepping in and providing the means for Argentina to meet its IMF obligation by way of $1.7 billion in yuan currency swaps.
According to the South China Morning Post, the intervention of the PBoC and the Latin American Development Bank has only succeeded in buying time for Argentina. Ariel Gonzalez Levaggi of the Pontif
We współpracy z: https://cryptodaily.co.uk/2023/08/chinese-central-bank-weighs-in-to-help-argentina-avoid-default-to-imf
