CAF made a disbursement of US$285 million that will help strengthen reserves

CAF made a disbursement of US$285 million that will help strengthen reserves

The disbursed amount becomes “integrated into the international reserves of the Central Bank of the Argentine Republic,” the monetary authority specified in a press release released today.

As of Friday, March 17, the provisional level of reserves reported by the Central Bank was US$37,665 million, while the consolidated amount (it is disclosed 48 business hours late) was US$37,783. million as of Wednesday, March 15.

The Central Bank closed the conference on Friday with a negative balance of US$139 million in its interventions in the market and sold US$554 million during the week.

This disbursement is part of the collection of dollars from international organizations to help the Central Bank’s reserves and counteract the problems it has on the external front. Last Friday, Economía approved two contract models that will make it possible to advance with the granting of a loan for up to US$400 million of the Central American Bank for Economic Integration (CABEI), in order to support the Argentina plan against Hunger, and another of up to US$300 million of the Andean Development Corporation (CAF)aimed at financing programs for the disabled.

The schemes for the contracts were approved by the Decrees 149/2023 and 150/2023published this Friday in the Official Gazette, which in the case of CABEI, indicate that the financing was approved by said entity at the beginning of this month and is aimed at financing the Argentina Plan Against Hunger (PACH), executed by the Ministry of Social development.

Source: Ambito

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