The same sources indicated that the cancellation of liabilities on Tuesday and Wednesday will be made with special drawing rights (SDR) that the Treasury has in the BCRA, part of the remainder of the US$9.7 billion that arrived in March, when the The agency made the first disbursement of the current program. Between the two days, a total of 2,014 million SDRs (about US$2,684 million) will be paid.
In order not to affect the reserves, the original idea was to cancel these maturities with the resources corresponding to the second disbursement from the IMF, whose transfers are matched with the commitments made by the Together for Change administration. But those new SDRs haven’t arrived yet.
In any case, the Executive trusts that this Friday, when the IMF board discusses the first review of the staff on the fulfillment of the goals for the January-March period and the rescheduling of the objectives for the second and third quarters due to the impact of the war in Ukraine, the second disbursement is authorized. So the country would receive 3 billion SDRs, which is equivalent to just over $4 billion. Thus, the weekly payment would be more than compensated.
In line with the recalibration of the quarterly objectives negotiated between the team led by the minister Martin Guzman and the technical staff of the agency, the Government implemented a series of measures last week: it made official the new version of the 2022 Budget and established by decree the segmentation of subsidies to energy rates, while the Central Bank made a somewhat stronger increase of interest rates in the financial system.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
