In 2021, Argentina disbursed a total of US$5.2 billion to the IMF between principal and interest. The last payment to the international organization was on December 22, when it transferred US$1,892 million. The last maturities were paid with the Special Drawing Rights, which the agency distributed among its shareholders, of which Argentina received the equivalent of US$4,326 million.
The need to reach an agreement with the Fund is key, since the payments stipulated for this year exceed the reserves of the Central Bank. Likewise, in the month of March, US$2.1 billion also expire with the Paris Club. The central point is that, in order to advance a payment agreement with the Club, it is an essential condition to have signed a prior agreement with the IMF. Last June, Martín Guzmán asked that group of creditor countries to give him time to reach an agreement with Washington, so he has until March 31, 2022 to point to a restructuring.
The Minister of Economy informed, in a meeting with provincial leaders, about the three variables in which the Extended Facilities agreement negotiated with the IMF will be based. The central points are the monetary issue, the need to increase the amount of reserves available from the Central Bank and the fiscal path. This last axis is the main focus of discrepancy since the Government proposes to achieve a primary balance in 2027, while the Fund requests a balance by 2024.
Source From: Ambito
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