{"id":24041,"date":"2018-12-02T19:22:18","date_gmt":"2018-12-02T19:22:18","guid":{"rendered":"http:\/\/qatar-news.org\/qatarnewsEn\/?p=24041"},"modified":"2018-12-02T19:22:18","modified_gmt":"2018-12-02T19:22:18","slug":"china-and-argentina-sign-currency-swap-deal-after-g20-summit","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=24041","title":{"rendered":"China and Argentina sign currency swap deal after G20 summit"},"content":{"rendered":"<div id=\"body-200771816342556199\" readability=\"85.4600136705\">\n<p class=\"speakable\"><a href=\"https:\/\/www.aljazeera.com\/topics\/country\/argentina.html\">Argentina<\/a>&#8216;s central bank has signed a deal with its Chinese counterpart to expand a currency swap programme by eight billion dollars, the bank said in a statement.<\/p>\n<p class=\"speakable\">The agreement is an extension of a swap first agreed between the two countries in July 2017. The new deal, announced on Sunday\u00a0<span>during a state visit by Chinese President\u00a0<\/span><a href=\"https:\/\/www.aljazeera.com\/topics\/people\/xi-jinping.html\">Xi Jinping<\/a>, brings the total swap amount to $18.7bn.<\/p>\n<p class=\"speakable\">In a currency swap, the first party borrows a specified amount of foreign currency from the counterparty, while at the same time, lending a corresponding amount to the counterparty in the currency that it holds.<\/p>\n<p>Presidents <a href=\"https:\/\/www.aljazeera.com\/topics\/people\/mauricio-macri.html\">Mauricio Macri<\/a> of Argentina and Xi also announced more than 30 agriculture and investment deals.<\/p>\n<p><a href=\"https:\/\/www.aljazeera.com\/topics\/country\/china.html\">China<\/a> is among Argentina&#8217;s top export markets, especially for agricultural commodities that are the engine of its economy. The move is meant to reinforce economic and political ties between the two countries.<\/p>\n<p>Macri said that China&#8217;s development benefits Argentina and the world.<\/p>\n<p>The announcement comes after US officials said they had reached a 90-day truce in their trade dispute with China, a spat that has rattled financial markets and imperilled global economic growth.<\/p>\n<p>That announcement followed a Saturday dinner meeting between Xi and US President <a href=\"https:\/\/www.aljazeera.com\/news\/2016\/11\/profile-president-donald-trump-161109050153947.html\">Donald Trump<\/a> following the <a href=\"https:\/\/www.aljazeera.com\/news\/2018\/12\/trade-deals-dancing-protests-g20-summit-day-wraps-181201135408264.html\">G20 summit<\/a> in Buenos Aires.<\/p>\n<p>Xi is now scheduled to visit Panama, which has been negotiating a free-trade deal with China.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Argentina&#8217;s central bank has signed a deal with its Chinese counterpart to expand a currency swap programme by eight billion dollars, the bank said in a statement. The agreement is an extension of a swap first agreed between the two countries in July 2017. The new deal, announced on Sunday\u00a0during a state visit by Chinese&hellip;<\/p>\n","protected":false},"author":10,"featured_media":24042,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-24041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle_east_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/24041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24041"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/24041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/media\/24042"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}