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Argentina adopts yuan as currency for trade with China

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Argentine Economy Minister Sergio Massa announced that the Argentine Central Bank will switch to buying imports from China in yuan.

He tweeted: “We will activate financial barter with China. This will allow us to pay for the cost of imports from this country in yuan, replacing $1 billion and $40 million in April and $790 million starting in May.”

“The worst drought in our history has reduced our exports by $15 billion, and we have set ourselves the task of maintaining reserves to ensure the import of goods and resources that the country needs,” the minister added.

He pointed out that such measures provide additional protection for nature reserves.

Source: News

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