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Members of the economic cabinet will meet on Monday with the head of the People's Bank of China to define the future of the swap - Infobae
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Miembros del gabinete económico se reunirán el lunes con el titular del Banco Popular de China para definir el futuro del swap
El presidente del BCRA, Santiago Bausili, y el secretario de Finanzas, Pablo Quirno, se encontrarán el lunes en Beijin con Pan Gongsheng. Quirno viajará luego a París donde participará de las reuniones donde Argentina recibirá la hoja de ruta de acceso a la OCDE
www.infobae.com
April 26, 2024
The president of the BCRA, Santiago Bausili, and the Secretary of Finance, Pablo Quirno, will meet with Pan Gongsheng on Monday in Beijing. Quirno will then travel to Paris where he will participate in the meetings where Argentina will receive the roadmap for access to the OECD
Argentina hopes to refinance the activated tranche of the currency swap with China.
The president of the Central Bank of the Argentine Republic (BCRA), Santiago Bausili, and the Secretary of Finance, Pablo Quirno , will meet next Monday in Beijing with the head of the People's Bank of China, Pan Gongsheng, in the midst of discussions for the currency swap for USD 18,000 million between both countries, as reported by the Bloomberg agency.
The officials will leave this Friday afternoon and will join the delegation of the chancellor, Diana Moindino , who traveled this Thursday. Bausili will return to Buenos Aires on April 30 and Quirno will continue with the delegation to Paris where he will participate in the meetings where Argentina will receive the roadmap for access to the OECD.
In June of last year, the BCRA renewed the exchange of currencies with the People's Bank of China for USD 18,000 million that are part of the international reserves. The former Minister of Economy, Sergio Massa, used USD 4.9 billion of the first authorized tranche to meet payments for imports, maturities with the International Monetary Fund (IMF) and with private bondholders.
Pan Gongsheng, the most popular bank in China (REUTERS/Tingshu Wang)
As Infobae learned , from sources that participate and participated in the negotiation with China, a part of the total activated funds will expire in June, so the first USD 1.7 billion will have to be paid until September. However, the idea is to “refinance” the USD 4.9 billion to take pressure off the reserves.
The Argentine Government has no intention of activating the second tranche for the equivalent of USD 6.5 billion that the Government of Alberto Fernández had politically agreed upon and which, in the end, had never been formally activated.
The vice president of the monetary authority, Vladimir Werning , included the topic last week in his presentation of the “Stabilization Program” in different meetings with international investors within the framework of the spring meetings of the Fund and the World Bank that were held in Washington. .
Werning stated in the document that of the USD 43,000 million of gross reserves that existed until October 12, before the general elections, almost USD 5,000 million of the swap were used, USD 18,400 million were sold and USD 19,600 million corresponded to debt. trade for imports. There he also specified that net reserves were negative USD 4.1 billion as of April 19.
Agenda
According to Economía, Quirno will participate with Mondino in a trade promotion and investment attraction event in which local companies with current or potential businesses and investments in Argentina will be present; local importers and distributors of Argentine products; and local chambers and promotional institutions.
The Secretary General of the OECD Organization, Mathias Cormann (REUTERS/Gonzalo Fuentes)
Quirno's agenda in Beijing will also include meetings with the Vice President of the People's Republic of China, Han Zheng ; the Vice Minister of Commerce and Representative of China for International Trade, Wang Shouwen ; and with the Governor of the People's Bank of China (PBC), Pan Gongsheng .
In addition, the Secretary will be present at the meeting with the Foreign Minister of the People's Republic of China, Wang Yi ; and with the Vice President of the National Development and Reform Commission (NDRC), Zhao Chenxin .
“Then, the delegation will move to Paris, where the bilateral meetings will continue. There, Quirno will participate in the opening ceremony of the OECD, where Argentina will receive the access sheet to the organization's route. Along these lines, the Secretary will be part of the meeting with the Secretary General of the OECD Organization, Mathias Cormann . In addition, he will hold a meeting with Mondino and the Minister of Economy of the Swiss Confederation, Guy Parmelin,” said Economía.
