This is part of the total commitments in North American currency for July, reaching US$4,249 million, if all the commitments with international organizations and private investors are added.
The data corresponds to the Congressional Budget Office (OPC). On July 9 there are three maturities for US$1,022 million in Bonares and Globals for interest.
“It is important to note that coupons expire sovereign bonds totaling around US$1 billion. In this sense, faced with a possible delay in the approval (of the agreement with the IMF) of this outcome, the Government could have to face this expiration with its own reserves”, according toPersonal Investment Portfolio (PPI). These are US$355 million of the Bonares (local law) AL29, AL30, AL35, AE38 and AL41; US$40 million of Globales (foreign law) in euros GE29, GE30, GE35, GE38, GE41 and GE46; yu$s627 million Global in GD29, GD30, GD35, GD38, GD41 and GD46 dollars.
While on July 14 and July 28, the IMF appears again with US$647 and US$690 million respectively. On July 28, US$129 million of a letter issued by Mendoza expires, which, based on the latest restrictions imposed by the Central Bank on debt payments, could access only 40% of the currencies, and the other 60% would have to be refinance or face with your own dollars.
On the other hand, throughout July there are maturities with other international organizations for US$82 million principal and US$60 million interest; bilateral loans for US$193 million and US$60 million, respectively, and BCRA Bills for US$81 million as interest.
According to the stock exchange company GMA Capital, after the payment to the IMF in June “net reserves would temporarily go to the area of US$5.100 million (negative), a barrier never drilled in more than two decades.”
“In addition, on July 9, the Government should face payments for Bonares and Globales coupons for US$1,070 million (US$750 million to private companies). As a result, the net would be negative by more than US$6,000 million”, says GMA Capital in its latest economic report.
This year Argentina has a negative flow with the IMF for US$190 million, since it has to pay US$10.910 million and is expected to receive US$10.720 million.
Javier Timerman, a partner at Adcap Grupo Financiero, pointed out in this regard that “people are waiting for an agreement to be reached with the IMF so that they can spend these months with some peace of mind and it’s good that it is so.” On the other hand, he indicated that “the current government no longer has the possibility of presenting a long-term plan.”
Source: Ambito
