The Executive has been deploying a wide agenda of international contacts to increase the reserves of the Central Bank and activate infrastructure projects. As this medium already anticipated, during the presidential tour of China and Russia there will be investment announcements in strategic sectors and extra financing for this type of initiative. At the same time, an extension of the swap that governs with the Asian country is not ruled out or even that a section of the exchange of currencies “practically without interest” can be activated.
In the Government they also consider it essential to add disbursements by multilateral organizations, which usually offer much more lax financing conditions than those that can be found in the market. As anticipated by official sources, with the latest negotiations that the country entered into, some US$5 billion will then be added by these entities, beyond the projects that are already underway.
“This year we expect US$2 billion to be approved for priority development projects with the World Bank. There is also an IDB financing program for US$2.3 billion, which includes investment and fast-disbursing loans. With the CAF it is estimated to have a programming of US$1,000 million”, they explained. At the same time, they argued that “bilateral loans that could be approved will be added, but the available quota is not known a priori.”
Asked about the influence of the principle of understanding with the IMF in the next agreements that can be addressed, they maintained that “obviously the agreement with the Fund improves the climate, allows the approval of instruments to support the treasury. But in any case, the IDB, the CAF and the World Bank signed projects throughout the past year”.
According to information published on the website of the Undersecretariat for International Financial Relations for Development headed by Leandro Gorgal, there are 239 active projects for loans with multilateral and bilateral organizations. The financing of all these initiatives, which are under the purview of Secretary Gustavo Béliz, amounts to some US$31,177 million, which are disbursed as the works progress.
In the press conference he gave to anticipate the details of the principle agreement with the IMF, Economy Minister Martín Guzmán stated that the objective for this year is to increase reserves by US$5 billion. In this way, they hope to strengthen the position of the Central Bank and ease exchange rate pressures.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
