The Governor of the BCRA, Miguel Ángel Pesce, signed an early renewal of the swap agreement for CNY130 billion for a three-year term.
At the same time, a special activation was requested for up to CNY35 billion.
The Governor of the BCRA, Miguel Ángel Pesce, signed the agreement after having held a meeting with the Governor of the PBC, Yi Gang, in Beijing. The Minister of Economy, Sergio Massa, the Argentine ambassador in Beijing, Sabino Vaca Narvaja, and the Secretary for International Economic and Financial Affairs, Marco Lavagna, attended the meeting.
The first agreement between both central banks was entered into in 2009. The second agreement was entered into in 2014, renewed in 2017, and supplemented with an additional agreement by the end of 2018. The currency swap agreement was signed in August 2020, and is now being renewed.
