Argentina's central bank almost doubles currency swap with China

Saturday, November 10th 2018 - 09:16 UTC

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Argentina’s central bank said it would nearly double its currency swap deal with China, bringing the total to 130 billion Yuan (US$ 18.7 billion), as Beijing looks to expand its influence in the recession-struck country. Central Bank President Guido Sandleris, who was in China finalizing the agreement, said that the deal for 70 billion Yuan would be expanded by 60 billion Yuan, according to a bank spokesman. Read full article

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Enrique Massot
MP: ”...the central bank (limited) growth in the country’s monetary base (aiming) to control inflation as the country struggles to pull itself out of recession.“

The brainless or ill-willed government sucks up cash out of the economy expecting to reduce inflation by virtually starving the marketplace.

These measures, mandated by the IMF as part of the conditions to keep the Macri government in life support while ensuring payments to creditors, will only deepen recessive conditions, causing huge suffering to Argentines.

And Macri has said time and again that his is the ”only way” to reach a celestial state of well-being.

For those who survive, of course.
Nov 11th, 2018 - 06:24 am - Link - Report abuse -1
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