On July 31, local time, Argentine Economy Minister Felipe Massa announced that the Argentine government will repay the imminently due US$2.7 billion in debt to the International Monetary Fund (IMF).
Among them, US$1 billion will be provided by the Development Bank of Latin America, and the other US$1.7 billion will be paid in RMB equivalent under the currency swap agreement between China and Argentina.
Argentine Economy Minister Massa thanked the Development Bank of Latin America for its support, and especially thanked the Chinese government for its help.
The Argentine Ministry of Economy announced on June 30 that the Argentine government used special drawing rights and renminbi to pay the International Monetary Fund (IMF) US$2.7 billion in due foreign debts.
This is the first time that Argentina has used RMB to repay its foreign debt.
