Since January the payment flow was normalized but there was a debt of US $ 50,000 million

Since January the payment flow was normalized but there was a debt of US $ 50,000 million

A report by a private consultant states that Debt stock of importers with their suppliers from abroad has remained until the end of 2024 in some U $ 50,000 million, According to data from the Central Bank. The formal figure is US $ 57,300, but in reality there are about US $ 7.4 billion that were canceled outside the official market.

The high figure remains consolidated despite the fact that the government issued Los Bopreal last yearto solve, at least, the commitment of the Central Bank with the sale of currencies.

“Total import debt reached US $ 57.3 billion at the end of September 2024; that is, the same value as in December 2023. That of the goods grew US $1.7 million in the first quarter and then decreased US $ 900 million YU $ S1.2 million in the second and third quarter, respectively; While in the case of services the reverse dynamics were given and increased US $ 500 million to end, ”explains the report of the inveqc consultant.

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What is true is that From the government the restoration of the import payment flow was prioritized that had been altered by the previous management, with the application of different mechanisms that delayed access to the change market to importers.

In fact, the current management began with a system of four monthly payments, which then reduced two payments, and then eliminated in conjunction with the expiration of the country tax last December.

What can be said now is that Since January 2025, the flow of imports of Argentina with the world is normalized. But strictly speaking, last year the importers themselves began to ask for commercial credit to their suppliers to take advantage of the difference in rates and exchange rate.

According to inveqc the Argentina’s international commercial debt did not go down Because “in the first instance, of the Bopreal issued, only US $ 3,000 million were used to cancel, according to estimates of the BCRA ”.

“Second, because The scheme implemented during the first months of management resulted in an increase in obligations for the ‘cuotification’ In access to the Mulc, ”adds the report.

The consultant also indicates that “Importers would have chosen to continue defining payments to take advantage of the positive performance of rates in pesos, that ran above the monthly crawling, as well as the movement of financial dollars, in much of the year. ”

“Finally, although the level is still high, The ‘excess’ could be much lower, “explains the consultant, which recalls that” this happened at the end of 2023 “. “The survey of the BCRA indicated UN Total stock of US $ 57.3 billion, while the Ministry of Commerce estimated a net balance of US $ 42,000 million”, Adds the study

In addition to technical and methodological differences, some economic and exchange explanations were given, among which the cancellation – not informed to the BCRA – with its own dollars or through titles; Something that could have been repeated last year. The Central Bank estimates that during January-September, US $ 7,400 million were canceled outside the single and free market.

Source: Ambito

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