KUALA LUMPUR: A 15-year-old boy allegedly under the influence of alcohol was arrested after he slashed a security supervisor with a knife outside a mini mart at Razak City Residensi in Cheras.
How Chow Yun-fat became a Hong Kong cinema superstar without losing his humility - A special profile from SCMP Argentina is on the verge of settling its debt with China’s central bank, winding down a currency lifeline that kept the country afloat during years of financial turmoil and now sits at the centre of a geopolitical tug of war between Washington and Beijing.
Government officials confirmed to Argentine outlet Todo Noticias on Sunday that the repayment of the activated portion of the swap will be completed by mid-2026. Central bank records published last week show Buenos Aires has repaid nearly 90 per cent of the funds it tapped from the arrangement, a mechanism that allows two central banks to lend each other their currencies in times of need.
The outstanding balance fell from a peak of about US$5 billion to roughly US$675 million by mid-January, with the remainder due to mature over the coming months. According to the central bank’s annual financial statements for 2025, released last week and reported by Infobae, Argentina still owed the equivalent of US$3.1 billion at the end of 2024.
By the end of December, that figure had been cut to US$1 billion, and by January 14, the most recent date covered by the report, it stood at US$675 million. The central bank had agreed with the People’s Bank of China in April last year to renew the full activated tranche for an additional 12 months, with a gradual reduction beginning the following June. But the money Argentina is paying back was only a fraction of the deal.
The full framework agreement, signed in 2009 and most recentlyThat umbrella arrangement expires on August 6 and neither side has said publicly whether it will be extended. All tranches within the framework were renewed during 2025, with the next maturities falling in July 2026. Officials at the Casa Rosada told local media they saw no objection to a renewal. The Economy Ministry and the central bank declined to comment.
If the framework lapses, Argentina would not suddenly owe US$19 billion. The figure represents a credit line available on demand, not an outstanding debt. What the country would lose is the ability to call on those funds in a crunch, a backstop it has relied on for over a decade to shore up reserves and pay for imports from China, its second-largest trading partner.
Washington spent much of last year pressing Argentina’s president Javier Milei to cut the cord, and the speed of the repayment reflected that pressure.and warned that American support for Argentina’s loan request to the International Monetary Fund depended on Milei distancing himself from Beijing. Later in September, during meetings on the sidelines of the UN General Assembly in New York, senior US officials made the message more explicit, tying future financial help to winding down the Chinese credit line.
The push culminated a month later, when Treasury Secretary Scott Bessent announced a US$20 billion swap between the US Treasury’s Exchange Stabilisation Fund and Argentina’s central bank. The deal was signed days before local legislative elections in which Washington had signalled its support was linked to the political outcome. Bessent told Fox News that Milei was “committed to removing China” from the country and described Argentina as “a beacon for Latin America”.
Argentina drew US$2.5 billion from the American facility and repaid it in full by December, generating what Bessent called “tens of millions” in profit for US taxpayers. He later clarified that Washington’s concerns went beyond the swap itself to Chinese-linked ports, military installations and observation facilities on Argentine soil. The US agreement remains in force. The central bank still counts the full US$19 billion framework as part of Argentina’s gross reserves.
The roughly US$675 million that remains active is due to be fully unwound before the August expiry, leaving the renewal as the next decision Buenos Aires must navigate between its two largest financial counterparts. -- SOUTH CHINA MORNING POSTAn aftermatch - Red carpet for Putin: Why China-Russia ties outpace Beijing’s engagement with WashingtonTrump’s China trip highlights bipartisan shift in Washington’s approach to Beijing
Argentina Debt Settlement China Central Bank Geopolitical Tug Of War Currency Swap Buenos Aires Repayment Financial Turmoil Credit Line US Treasury Agreement Imports From China
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
18-year-old dies after streetlight falls on van during accident in Kuala TerengganuA 18-year-old man died after a streetlight fell and pierced the front of the van he was travelling in during an accident in Kuala Terengganu on Tuesday. The incident is being investigated under Section 41(1) of the Road Transport Act 1987, and the victim's family intends to take legal action against the driver of a red Volkswagen Golf involved in the crash.
Read more »
Meriah Malam Citra Warna Kuala Perlis yang Bersempena Festival Rakyat 3.0Malam Citra Warna Kuala Perlis yang bersempena Festival Rakyat 3.0 di Dataran Lok 9, Kuala Perlis berlangsung meriah dengan menghimpunkan elemen seni, budaya dan persembahan pelbagai kaum dalam satu pentas. Menteri Besar, Abu Bakar Hamzah berkata, program tersebut dilihat mampu menjadi pemacu kepada pertumbuhan dan merancakkan ekonomi setempat menerusi peningkatan perbelanjaan dalam sektor makanan, minuman, penginapan, kraftangan serta perkhidmatan pelancongan.
Read more »
US-China AI Speed Race Intensifies: Implications of Trump's Executive Order and AI Regulation ApproachesThe text provides an analysis of the political and international aspects of AI, focusing on the intensifying US-China AI speed race and the potential impact of a forthcoming executive order by US President Donald Trump. It also discusses the difference in AI regulation approaches between the US and China, with the US prioritizing national security risks and China emphasizing comprehensive legislation and internal ethics committees. The text highlights the convergence of both countries' approaches towards the governance and safety aspects of AI, but also the geopolitical competition between the two nations in terms of AI development.
Read more »
Trump’s China trip highlights bipartisan shift in Washington’s approach to BeijingBehind every viral Cannes red carpet moment is months of strategy, brand negotiations and last-minute fashion fixes orchestrated by celebrity stylists.
Read more »