By Ye Xie
BLOOMBERG - Dec 23, 2014
China is stepping up its role as the lender
of last resort to some of the world’s most financially strapped
countries.
Chinese officials signaled on the weekend 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 $4 billion to
Venezuela, whose reserves cover just two years of debt payments.
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