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.

[–] AlbigensianGhoul@lemmygrad.ml 1 points 1 year ago (1 children)

Brazilian neighbour here, how has this change impacted the old issues with inflation? I remember there always being lots of complaints from colleagues employed over there about that and it also getting exploited a lot by our tourists, but the BRL to ARS exchange rate doesn't seem to have changed much.

[–] gary_host_laptop@lemmy.ml -1 points 1 year ago

There hasn't been a significant change but this took efect weeks ago, so since Argentina has psychological dependance on the dolar we are still kind of tied to that and the economy hasn't seen an effect, but with time it will get better (unless Milei wins, he is a ultra right wing libertarian who wants to make the dolar the natiobal currency, then we fucked).