From China With Love (And Future Issues)

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From China With Love (And Future Issues)

First week
June 2023

Minister Massa can claim victory, at least for now. After a weak start in terms of announcements, today the Central Bank confirmed that it renewed the swap with the Central Bank of China and that this entity will allow Argentina to access another 5 billion dollars to finance imports from that country. This increases the government’s chances of reaching August without a calamity. The road towards the primaries seems much easier than it did until a week ago. There are no guarantees because the economy’s fragile state needs a lot more than the 5 billion that Massa achieved.