Economy Minister Sergio Massa announced the start of foreign exchange operations in yuan for importing companies in order to relieve Argentina’s ailing international reserves. According to Massa, the Central Bank is set to save US$1 billion in April and US$790 million as of May. “This will stop weighing on the outflow of our dollars and transfer to the outflow of yuan,” said Massa during the announcement at the Economy Ministry. “It gives us greater freedom and gives the Central Bank greater operational capacity. “We can’t guarantee the flow of imports, there are doubts as to whether what is en route to Argentina will be able to be accessed.

Source: Bueno Aires Herald April 26, 2023 23:21 UTC