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LatinNews Daily - 04 June 2020
In brief: Chile seeks new credit lines with US and China
* Chile’s central bank (BCCh) has reported that it has approached its counterparts in the US and China - the US Federal Reserve and the People’s Bank of China (PBoC) - in hopes of securing new lines of finance. In a statement, the BCCh specified that in the US, it has requested to join the Temporary Foreign and International Monetary Authorities (Fima) Repo Facility, which would enable temporary rebuys of its treasury bonds in exchange for US dollars. In China, the BCCh requested to increase the amount of their renminbi/Chilean peso currency swap bilateral agreement. This swap deal, signed in May 2015 and amended in 2018, has a current maximum of CNY22bn (US$3.1bn). These two initiatives, the BCCh explained, are part of its strategy to “strengthen the country’s international financial position” and “protect the domestic economy from tensions in the international financial markets”.
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- In brief: Chile seeks new credit lines with US and China