They also joined about u$s70 million that the BCRA was able to buy in a positive intervention in the Single and Free Exchange Market (MULC) during this Monday.
In this way, so far this month international reserves have risen by US$1,581 millionafter having started December at US$38,005 million, according to data from the BCRA.
The improvement in reserves is explained both by the approval of international credits and by the foreign exchange settlement of agro-export companies for external sales of soybeans and their derivatives, which they already exceeded US$1,500 million in the first days of the Export Increase Program.
The approval of the loan by the IDB to Argentina is intended for the country strengthen your capacity to plan and finance climate action, develop a favorable framework for sustainable finance that ensures the necessary investments for a sustainable and inclusive transition of the private sector, and promotes the circular economy and the decarbonization of economic activity, reported the IDB.
The Ministry of Economy, for its part, had specified that the loan would be disbursed in a single payment in December in order to reinforce the Central Bank’s reserves.
The loan has a 20-year repayment term, with a 5.5-year grace period and an interest rate based on the Secured Overnight Funding Rate (SOFR) that banks use to set the price of dollar-denominated derivatives and loans, he said. the multilateral body in a statement.
Source: Ambito
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