China challenges IMF as emergency lender
China is stepping up its role as the lender of last resort to some of the world’s most financially strapped countries. |||
New York – China is stepping up its role as the lender of last resort to some of the world’s most financially strapped countries.Chinese officials signalled on Saturday that they are willing to expand a $24 billion currency swap program to help Russia weather the worst economic crisis since the 1998 default. China has provided $2.3 billion in funds to Argentina since October as part of a currency swap, and last month it lent …read more
Source: Independent Online
