"China is not trying to supplant the IMF," said Matthew Mingey, a senior analyst with Rhodium Group. "When China has allowed these swap lines to be tapped, in many cases it's to unlock an IMF bailout or ensure an IMF programme stays on track." In turn, China is a major customer for Argentina's soy, corn and poultry exports. "China has every incentive to tightly manage Argentine drawings under the swap lines as the risks are very high." The swap line that the People's Bank of China (PBOC) signed in 2009 with Buenos Aires was the first agreed with a Latin American country.

---

Persons: Matthew Mingey, Buenos, Mark Sobel, Sobel, Sergio Massa, Martin Castellano, Alejandro Werner, Werner, Mingey, Jorgelina, Rosario, Karin Strohecker, Jorge Otaola, Joe Cash, Kirsten Donovan Organizations: International Monetary Fund, IMF, U.S . Treasury, Reuters, World Bank, TAG, People's Bank of China, Buenos Aires, Economy, Institute of International Finance, Relations, Georgetown Americas Institute, Western Hemisphere Department, Thomson Locations: China, Argentina, Beijing, Washington, Latin America, Buenos Aires, U.S, Buenos, American, United States, Zambia, Sri Lanka, Taiwan, Ukraine