Argentina in talks to expand China currency swap line, source says

News Snapshot:

BUENOS AIRES, May 24 (Reuters) - Argentina is in talks to renew and potentially expand its currency swap line with China, a central bank source said on Wednesday, as the South American country battles tumbling foreign reserves that threaten its ability to meet payments. The country has free access to some $5 billion as part of the China currency swap agreement that totals 130 billion yuan ($18.81 billion). The two countries activated the usable portion in January to help bolster Argentina's embattled peso. The government source said the central bank was "advancing towards the renewal of the swap and discussing...