The International Monetary Fund has accepted Argentina’s recent payment of $1.1 billion of its debt to the organization in the form of Chinese yuan rather than United States dollars .
IMF spokesperson Julie Kozack confirmed on Thursday, July 13, that Argentina paid the IMF in Chinese yuan worth the equivalent of $1.1 billion, with a further $1.7 billion of its matured debt to the IMF disbursed in Special Drawing Rights. (Related: DE-DOLLARIZATION: China now uses the yuan for cross-border transactions more than it uses the US dollar .)SDRs are reserve assets made up of a basket of […]
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