Santiago Bausili, president of the Central Bank, will travel to Shanghai to attend a Bank for International Settlements meeting and negotiate renewal of the swap with China, which expires in August.
Santiago Bausili will be in Shanghai to participate in a meeting of the Bank for International Settlements. He will take advantage of the visit to hold meetings with representatives of the Asian giant. The currency swap expires in August.
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President Lee Jae Myung nominated Shin Hyun-song, an official at the Bank for International Settlements (BIS), as the new governor of the Bank of Korea (BOK) on Sunday. Shin will replace current Gov. Rhee Chang-yong at the end of his four-year term in April. The choice aims to balance price stability and economic growth amid global uncertainty from the Middle East crisis.
Egypt and China have renewed their bilateral currency swap agreement for three more years and raised its value from 18 billion yuan to 30 billion yuan.
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Bank of Korea Governor Shin Hyun-song has been elected to the 18-member board of the Switzerland-based Bank for International Settlements.
New Bank of Korea Governor Shin Hyun-song and Finance Minister Koo Yun-cheol agreed on Thursday to bolster policy coordination amid market volatility from the Middle East crisis during their first meeting in Seoul. They emphasized the need for aligned monetary and fiscal policies amid tensions between growth and inflation. Discussions will continue on foreign exchange stability and structural reforms.
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Argentina's central bank cut short-term reference rates to 20% this month, below inflation levels, to capitalize on dollar inflows and rebuild hard currency reserves. President Javier Milei's government aims to boost economic growth amid slowdown signals. Analysts note concerns over peso stability impacts.
Central Bank of Kenya (CBK) Governor Dr Kamau Thugge has assured that the shilling will hold steady against the US dollar despite global pressures, citing a USD619 million balance of payments surplus and strong reserves. He expressed optimism amid Middle East conflict and US trade policy uncertainties. Talks with the IMF continue for a new program after the previous one expired.
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Zhao Leji, chairman of China's National People's Congress Standing Committee, reaffirmed commitments to high-standard opening-up and domestic demand in a keynote speech Thursday at the Boao Forum for Asia Annual Conference 2026 plenary. The event in Boao, Hainan province, themed "Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation," drew over 1,600 representatives from more than 60 countries and regions.