Argentina slides into the Yuan zone

Bloomberg: China Allows Argentina to Spend Up to $10 Billion of Currency Swap Line. In fact, it is a loan negotiated by Sabino Vaca Narvaja (son of the founder of Montoneros guerilla group). Argentina has spent the fifty billion dollars credit line granted by the IMF and now the local demand for dollars is sky high. The Banco Central imported by cargo jets, tons of paper dollars from the Fed, to satisfy the demand and restrict inflation. Elections are close, so China is helping the Peronista government. China is investing in lithium mines and other infrastructure.