After the agency turned US $ 2,000 million last Monday and reservations played its highest level of libertarian management.
He Government He paid more than U $ S780 million this Wednesday as debt interest to the International Monetary Fund (IMF) after having turned U $ 2,000 million This Monday. The international gross reserves of the Central Bank (BCRA) fell to a lesser extent, thanks to the price increase -According to official sources to Scope- And they remained above the U $ 42,000 million.
In this way, International Assets of the monetary authority fell into U $ S576 million to the U $ 42,141 millionafter touching a maximum on Monday from the January 13, 2023. “The reservations did not go down so much because there was a rise in quotes,” official sources highlighted, which also added that there were also “some details” of which there were no details.
In the last two wheels, the International gross reserves They fell U $ S882 million.
How are the IMF disbursements after the last turn?
With this second disbursement, the IMF already turned US $ 14,000 millionof the U $20,000 million agreed in April. A key loan to swell reserves and stabilize the exchange scheme after the voltage seen until the mid -month. In return, the government gave the “crawling-peg” of 1% monthly, partially lifted the stocking-fundamentally for human people-and adopted the flotation system between bands.
In addition, after the last review the multilateral credit agency relaxed the review of the agreement, which will go from being quarterly to semiannual. The decision responds to the context of high economic voltage that the Government crossed in July, marked by the high volatility of the dollar, which 4% jumped in a single dayreaching the $ 1,380 (although then reduced the rise), as well as the Strong rise in interest rates.
While the IMF also relaxed the goal of net reserves, now the BCRA has to increase international assets by US $ 3,500 million to December. This implies, according to the consultant 1816, that the government makes spot purchases, index or privatizes by U $ 6,000 million. “The fund opened the door for the central to make systematic daily purchases of foreign exchange within the flotation band: if the government wishes to get half of those US $ 6,000 million in this way, it would reach with purchases in the order of the US $ 30 million daily in the 101 business days that remain until the end of the year“They said in their weekly report.
The agency warned that Argentina It is among countries with lower levels of reserves Within the emerging universe, and recommended that the Central Bank assumes a more active role in anticipated currency accumulationas they do Chile, Colombia or Mexico.
Source: Ambito
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