China freezes loans worth $6.5 billion to Argentina

China has frozen $6.5 billion in credit extended to Argentina through… Switch The Chinese exchange rate, according to the Argentine newspaper Page 12 On Tuesday (December 19, 2023). According to the vehicle, sending the appeal will be suspended until Argentine President Javier Miley shows concrete signs of rapprochement with Beijing.

The Asian nation’s central bank made the resource available in October after Argentina’s president at the time, Alberto Fernandez, met with Xi Jinping. Hey Page 12 It stipulates that during the negotiations, a clause was placed on the political relationship between the two countries. China also demands that Argentina have “programmatic agreement” With the International Monetary Fund (IMF).

The exchange rate agreement with China is important for Argentina because it helps the South American country pay off its debts. The Argentine government used Switch The exchange rate for a $2.6 billion IMF debt repayment in November. It is also a strategy that the Argentines have to increase their reserves, as the president will have a low stock of international reserves.

Miley is trying to quickly rebuild relations with the Asian country. The relationship between the two countries was shaken after the Argentine president made statements in which he said that Argentina would not do that “Dealing with Communists” In your government.

The first signs of rapprochement occurred after the election of the Argentine leader. On that occasion, the President of China sent a message to Miley congratulating him on his victory. The liberal thanked him.

On December 11, Miley and Foreign Minister Diana Mondino met with Wu Weihua, Xi Jinping’s envoy to the Argentine leader’s inauguration ceremony and vice chairman of the Standing Council of China’s National People’s Congress. The next day (December 12), the Liberals sent a letter to the Chinese leader requesting Xi’s support to speed up the regime’s renewal process. Switch exchange rate.

China did not deny this possibility, but it expects clarity regarding Argentina’s positions. Among the Chinese demands is the appointment of an Argentine ambassador to the Asian country.

Currently, Secretary Marcela Baron is responsible for representing Argentina in China. She took office after the resignation of Ambassador Sabino Vaca Narvaja. The lack of an official successor is viewed negatively by Beijing.

According to the informationBeijing will also only unfreeze credit if Miley meets Xi Jinping on an official visit to China or at another event. The liberal was invited to go to the Asian country during the meeting with Wu Weihua.

China also wants the South American country to buy Chinese JF-17 fighters. This Chinese demand was strengthened after the Argentine Ministry of Defense resumed negotiations to purchase F-16 fighters. The vehicles are American-made and operated by Denmark.

according to Page 12, China’s ambassador to Argentina, Wang Wei, was summoned to return to China to present a report on possible scenarios for economic relations with Argentina while the country is under Miley’s government.