Argentina to pay imminent maturities to IMF

Argentine Minister of Economy Massa announced that the Argentine government will repay the imminently due US$2.7 billion in debt to the International Monetary Fund (IMF), of which US$1 billion will be provided by the Latin American Development Bank, and the other US$1.7 billion will be drawn from China and Argentina. The equivalent RMB payment under the currency swap agreement. 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.

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