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Fernández: China’s support represents a "breakthrough" before the agreement with the IMF

Photo: Presidency.

President Alberto Fernández stressed this Sunday that China’s decision to “encourage greater use of national currencies” in trade and support the Argentine claim for the review of the surcharge policy of the International Monetary Fund (IMF) they represent “crucial advances” within the framework of the agreement that the country obtained with the international organization.

“China’s decision to encourage greater use of national currencies in trade and investment and to support Argentina’s demand for a review of the IMF’s surcharge policy are crucial advances,” the president posted on his Twitter account. at the end of his tour of China, the second stage of the international trip that has already taken him to Russia and will end in Barbados.

In the joint declaration between Argentina and China, signed during the bilateral meeting between Fernández and his counterpart Xi Jinping this morning at the Great Hall of the People in Beijing, China expressed its “firm” support for Argentina in its “efforts to preserve economic and financial stability”, within the framework of the agreement that the country reached with the IMF.

In the declaration, China undertook to study projects to channel the IMF’s special drawing rights (SDRs) and to expand their use, proposed by the Argentine government, and both countries agreed on the need for the international organization “to carry out conduct a review” of its surcharge policy.

“I gratefully receive the strong Chinese support in Argentina’s efforts to preserve economic and financial stability,” the Argentine president said in his post on Twitter, adding: “I will keep in my memory the warm welcome from the Chinese people.”

Fernández described the meeting with Xi as “cordial, friendly and fruitful”, and highlighted the incorporation of Argentina to the Belt and the Silk Road.

“This is excellent news. Our country will obtain more than US$23 billion of Chinese investment for works and projects,” the head of state remarked.

He also added: “We both value the deep and sustained bond of Sino-Argentine relations. We agree to deepen relations of political, commercial, economic, scientific and cultural cooperation between our countries.”

Finally, he stated that “today we have the opportunity to promote foreign direct investment in your country, expand the participation of Argentine suppliers in infrastructure works and accelerate sanitary and phytosanitary negotiations and qualifications to stimulate exports to China.”

Fernández has already left China and is currently flying to Madrid as a stopover for the last destination of his tour, Barbados.

Fernández will arrive tomorrow in Bridgetown, the capital of the Caribbean island of Barbados, as president of the Community of Latin American and Caribbean States (CELAC), which he has headed since January 7.

On Tuesday, Fernández will meet in the city of Bridgetown -the capital of Barbados, a port city on the southwest coast of the island- with the prime minister of that country, Mia Mottley, one of the main figures in the discussions on climate change. and with growing influence globally.



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