up to two or three times a month. The average amount of these disbursements, including principal and interest, will be about 920 million dollars.”
FIDE’s work highlights that “in addition to these disbursements, the review criteria established by the organization itself must be met. In the first 2 and a half years, it is stipulated that there be 10 reviews, at a rate of one every 3 months and in In the event that a goal is not met
program, a “waiver” (or waiver for non-compliance) must be requested, where the deferral with the original plan must be explained, which will also require the approval of the technical staff and the agency’s board of directors”.
Further on, the document underlines that “the agreement with the IMF is not going to change any of the problems that the Argentine economy has had for several years. In the meantime, we will have to get to work on the structural problems. In particular, on mobilizing the export capacity that generates genuine resources through which it is possible to pay the largest volume of foreign debt”.
In relation to inflation, FIDE warned that “at the beginning of the year, prices have shown a higher inertia than initially projected, just prior to the months in which
increases are expected in the regulated components of the basic basket due to the foreseeable correction in rates. According to our anticipated survey of supermarket prices, we expect inflation of 3.8% for January 2022 and in the annual projection, we estimate inflation for the end of the year equivalent to that of 2021.”
In relation to the next harvest, FIDE pointed out that the drought affected a large part of the crops. “In the case of wheat, the 2021/22 campaign registers growth in quantities and sales prices. The impact of the drought was very minor. A harvested area of 6.6 million hectares is estimated and a production of 20.3 tons. International prices are 11% above those of 2021. A 40% growth in the value of wheat exports is expected.”
FIDE points out that in the case of corn, although the planted area will be greater, the drop in yields will affect the total quantities produced. We expect a drop of around 8% in the value of corn exports.”
For soybeans, FIDE considered that “for the prospects to continue to improve, it is important that the water conditions are sustained. Especially for the sowing of second-class soybeans,
still in development. And although there will be a reduction in yields as a result of the drought, the support of export prices for soybean meal and oil makes us anticipate that there will be an improvement of around 10% in export levels.”
Source: Ambito
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