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this post was submitted on 15 Jul 2023
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For the record, this has more to do with Argentine financial mismanagement and China’s “expansive” fiscal policy than with the dedollarization that the headline is trying to imply.
We (I'm from Argentina) have not enough dollars to pay the IMF loan and had a bunch of yuans in reserve China lend us to trade with them, a 'swap' as I heard they call it.
What's worrying is that yuans have a secret loan interest, probably quite a high rate. Don't ask were the IMF loan money went, for sure it wasn't spent on me.