The IMF calendar provides for three maturities, but they can be settled all together at the end of the month.
Next week, government will make the payment to the International Monetary Fund (IMF) of the due dates scheduled for Octoberwhich surround the US$2.6 billionwith the funds of the new swap of coins subscribed with China.
He Economy Minister and presidential candidate for Union for the Homeland (UP), Sergio Massaannounced last Wednesday that “next week” the country will proceed to “pre-cancel IMF maturities so that there is no uncertainty around that issue,” after the president Alberto Fernandez will sign with its Chinese counterpart, Xi Jinpingthe subscription of a new swap with China by US$6.5 billion.
The calendar of IMF foresees three expirations with the country: the October 6 by US$1,280 millionhe October 12 ° By others US$640 million and a third for US$673 million he last business day of Octoberalthough the same can be paid off all together at the end of the monthwithout questioning by the international organization, which has already endorsed this practice in the past.
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REUTERS
The maturities and importance of the swap
Given the few reservesthe payments to the Fund must be carried out with the funds obtained through the new swap with Chinawhich are freely available funds as clarified this week by technical officials of the Governmentas Gabriel Rubinsteinthe vice minister of Economy.
Rubenstein He specified that the funds obtained from new agreement swap with China can be used for imports, external payments or intervention in it dollar CCL/MEP“which we hope can go down and move away from the recent ‘panic’ values,” he said through his X account, formerly Twitter.
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The Argentina used the yuan for the first time free availability of currency exchange with China to pay the international organization last Junewhen the approval of the fifth revision of the program was delayed, which was later approved together with the sixth revision, at the end of August.
The next review with the Fundto unlock more resources, will be in November, and everything indicates that it will formally begin once the general elections are over, which if extended to a possible runoff election will be after November 19, the scheduled date for a hypothetical second round.
Source: Ambito
