China secures $14 billion in projects in Argentina

21 Oct 2025 22:25
21 Oct 2025 22:28

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China secures $14 billion in projects in Argentina

Reuters

With $14 billion in investment projects and growing exports, China has solidified its position as a key trading partner for Argentina.

The relationship between the two countries has been at the center of debate as the U.S. Treasury agreed to a $20 billion currency swap to support the economic reform program led by President Javier Milei, News.Az reports citing foreign media.

U.S. Treasury Secretary Scott Bessent announced the agreement with Argentina's Central Bank on X on Tuesday, describing it as "a bridge to a better future, not a bailout."

"We don't want another failed state in Latin America, and a strong, stable Argentina as a good neighbor is explicitly in the strategic interest of the United States," Bessent said.

Earlier, the Treasury secretary expressed an intent to limit China's presence in Argentina, particularly in strategic sectors such as ports, military bases and observation centers.

China is a growing investor and a major lender to Argentina, making it nearly impossible for the South American nation to distance itself from the Asian country, analysts say.

News.Az