Weekly Report - 08 June 2023 (WR-23-23)

Over a year after Argentina joined China’s ‘Belt and Road Initiative’ (BRI), the two countries also agreed to deepen cooperation on major infrastructure projects in transport, energy, the economy, and trade. Massa highlighted various projects in the pipeline, such as proposed investments in lithium mining by Chinese companies totalling over US$4bn. China’s trade minister Wang Wentao said his government welcomed Argentine exports and expected an “open, fair, and bias-free business environment in Argentina for building a high-quality economic relationship”.

Massa is also trying to win support from the International Monetary Fund (IMF) to renegotiate the terms of its US$44bn debt programme given the present situation, exacerbated by a severe drought [WR-23-16], to secure an early release of disbursements of US$11bn due before the end of the year.           Sources close to Massa say this may be completed by July. US Deputy Assistant Secretary of State for Western Hemisphere Affairs Juan González said on 1 June that he hoped for “positive dialogue” between Argentina and the IMF.  

With net foreign currency reserves hovering around zero Argentina’s economic condition remains fragile. Both Beijing and Washington may face further appeals for short-term h

End of preview - This article contains approximately 263 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial