The data appears in the latest report on debt operations of the Office of the Congressional Budget (OPC). Some u$s927 million are paid on the 21st of this month and 24 hours later u$s1,789 million. It is quite a complexity, especially because according to the Extended Facilities Program, when the month ends, some US$7.700 million of international reserves should be “in cash”, although this is already an objective that will not go away. to comply and that the Executive and the Fund agreed to make it more flexible.
Along with the commitments with the institution led by Kristalina Georgieva, the Government has to meet commitments for US$389 million with other organizations throughout this month multilateral, of which US$252 million correspond to principal and another US$137 million to interest.
In this context, the team led by Gabriel Rubinstein, made up of the Secretary of the Treasury, Raúl Rigo, and the chief adviser, Leonardo Madcur, spent the last few days in Washington negotiating. By these hours, the terms of the technical staff report should be known so that it can be approved as soon as possible by the board, as indicated by the IMF procedure.
The financial analyst christian buteler told Scope that the IMF bureaucracy “is given the time” to approve the closing numbers for 2022, and trigger a disbursement corresponding to the last review of 2022. This is a matter of agency procedures. In the economic team they hope that the Fund’s board of directors will sign the report of the technicians around March 20. This would not be the problem now since it has been known for a long time that the goals were achieved. The central point of the discussion goes through the new goal of forward reserves. The dollar target for the first quarter was not going to be met nor was the annual goal (of US$12.4 billion).
“Here the problem is that there are many announcements of announcements and nothing materializes,” says the analyst. Buteler refers to the fact that the Palacio de Hacienda has been making different proposals to the market, such as the case of the credit operation called repo, which according to reports is already practically defined, but has not yet been finalized. The loan is against bond guarantees, by a couple of international banks and a sovereign fund. The fall in the price of Argentine bonds in dollars complicated the operation.
On the other hand, in April Argentina has another commitment with the Fund and at that time you will not have matched disbursements. will be others u$2,663 million with the IMF and u$s207 million with other organizations.
At leastIn the next few days the government will have help from the Central American Bank for Economic Integration. The board of that entity approved a disbursement of US$400 million which will be for the Argentina Plan against Hunger. Although it is money that arrives with a specific allocation, the income serves to swell the balance.
Source: Ambito
