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Argentina met a payment obligation with the International Monetary Fund (IMF) in Chinese yuan worth the equivalent of one billion US dollars, with a further $1,7 billion disbursed in Special Drawing Rights.
This is the first time that the Alberto Fernández administration resorts to freely available yuan from the currency exchange with China to pay the international organization.
“The payment of the June maturities was made without using dollars but SDRs [special drawing rights] and yuan,” the Economy Ministry, headed by presidential hopeful Sergio Massa, said in a statement. The IMF confirmed the transaction. The international organization accepted this form of payment while negotiations to restructure Argentina’s debt continue.