Argentina renews US$19 billion China currency swap, brushing off Washington’s pressure

Argentina has renewed its currency swap with China for five years, preserving a US$19 billion lifeline that Washington spent more than a year pressing it to give up.

The Argentine central bank and the People’s Bank of China (PBOC) signed the extension of the 130 billion yuan line on Wednesday, a day before the existing deal was due to expire.

This is a short excerpt. EkJhalak links out rather than reproducing other newsrooms’ work — continue at South China Morning Post.