Another major country in the world decided to reduce dependence on the US dollar in international trade. This country is Argentina, whose economy was periodically in a fever and which every now and then had to apply for international financial (dollar) help, and then go to the declaration of default.
Now, according to the head of the Argentine Ministry of Finance Sergio Massa, Argentina has significant problems in maintaining central bank reserves. Concerning, official Buenos Aires switches to paying for imports in an alternative currency - in Chinese yuan.
Mass noted, that a large-scale drought has become a new problem for the Argentine economy. According to the head of the Ministry of Finance of this Latin American country, the dry season led to a reduction in exports by about 15 billion. According to the Minister of Economy of Argentina, in April, the country has already replaced the amount, equivalent to more than 1 billion dollars to Chinese yuan. In May, replacement volumes will be approximately 0,8 billion.
The Ministry of Economy of the Latin American country considers, that in this way it will be possible to more effectively maintain the reserves of the Central Bank in terms of ensuring the supply of key goods to the country. Little of, use of alternative currencies in mutual trade, as noted by Sergio Massa, this is also the question of the safety of reserves, implicitly alluding to, what if everything is stored in dollars, then, depending on the political mood in the United States, such reserves can simply freeze.
