The Central Bank was only able to accumulate part of the liquidated since high levels of imports persist despite the decline in energy purchases due to the warmer days.
Although the results were marked by the ‘soya dollar’, on the last day of the week settlements fell by almost half: They went from being $62.2 million on Thursday to $259.7 million on Friday. This coincides with the fact that on Friday the Central Bank raised the interest rate for credits for all soybean producers who retain more than 5% of production. The minimum fixed rate by the monetary entity is 120%.
With these results, the Government leaves the critical area of net reserves for US$1.4 billion. In addition to being an explicit objective of the Government towards macroeconomic stabilization, the accumulation of reserves It is key since the IMF’s quarterly review is approaching by which time Argentina had committed to reaching US$6.4 billion in reserves.
Massa is in the United States, on a tour that included meetings with businessmen from the energy and mining sectors, and which accumulated disbursements from international organizations such as the Inter-American Development Bank and the World Bank. But they were also made meetings between the technical teams of the IMF and those of the Ministry of Economy that, according to what Ámbito learned, agreed not to modify the agreed goals and Argentina is heading to meet the objectives.
Source: Ambito
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