{"id":25067,"date":"2023-04-27T00:38:38","date_gmt":"2023-04-27T00:38:38","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/argentina-govt-to-pay\/"},"modified":"2023-04-27T00:43:35","modified_gmt":"2023-04-27T00:43:35","slug":"argentina-govt-to-pay","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/argentina-govt-to-pay\/","title":{"rendered":"Argentina govt to pay for Chinese imports in yuan rather than dollars"},"content":{"rendered":"<p>BUENOS AIRES (Reuters) -Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country&#8217;s dwindling dollar reserves. <\/p>\n<p>In April, it aims to pay around $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly imports will be paid in yuan, a government statement said.<\/p>\n<p>The decision aims to ease the outflow of dollars, Argentina&#8217;s Economy minister Sergio Massa said during an event following a meeting with the Chinese ambassador, Zou Xiaoli, as well as with companies from various sectors.<\/p>\n<p>The decision comes as the South American nation battles critical levels in its dollar reserves amid a sharp drop in agricultural exports caused by a historic drought, as well as political uncertainty ahead of elections this year.<\/p>\n<p>    \u00a0\u00a0\u00a0 In November last year, Argentina expanded a currency swap with China     by $5 billion    , seeking to strengthen Argentina&#8217;s international reserves.  <\/p>\n<p>    \u00a0\u00a0\u00a0 The agreement will allow Argentina &#8220;to work on the possibility&#8221; of advancing the rate of imports, Massa added, with yuan-denominated import orders being authorized in 90 days rather than the standard 180 days.  <\/p>\n<p> (Reporting by Walter Bianchi; Editing by Sarah Morland and Isabel Woodford and David Gregorio)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/argentina-govt-to-pay\/illustration-shows-chinese-yuan-and-u-s-dollar-banknotes-2\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3P0Y3-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3P0Y3-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BUENOS AIRES (Reuters) -Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country&#8217;s dwindling dollar reserves. In April, it aims to pay around $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":25388,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-25067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3P0Y3-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=25067"}],"version-history":[{"count":3,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25067\/revisions"}],"predecessor-version":[{"id":25389,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25067\/revisions\/25389"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/25388"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=25067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=25067"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=25067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}