With the Bookings of the central bank (BCRA) in all-time lowsone of the concerns of the next government will surely be how to face these debt maturities from here until the next thick harvestthat starts between March and April 2024.
With regards to the maturities with the IMFthe incoming government is expected to try to negotiate a rethinking of the program with the organization that involves new disbursements to achieve strengthen reserves.
What did Javier Milei say about the debt with the IMF?
This Monday, in statements to Radio Rivadaviathe president-elect Javier Milei He stated that his government will aim to “refloat the agreement” which, as he explained, is down because the primary deficit target It was 1.9 units and that Sergio Massa’s time at the Ministry of Economy took it to 3 points.
Refering to debt in pesosclarified that in 2024 the equivalent of US$90,000 million. While, on the debt in dollars He said it’s basically multilateral organizations. He stated that, “that is why it is important revive the agreement with the IMFbecause they are close to US$20,000 million“.
“Furthermore, we have to resolve the SIRA issuewhich is debt with importers for US$30,000 millionbecause otherwise that impacts imports and, therefore, the level of economic activity, employment and salaries,” he added.
Debt: upcoming maturities
After payments made to IMF in October and Novemberwhich added some US$3.4 billionArgentina must cancel between December and April 2024 debt maturities in foreign currency for almost US$12,000 million.
Between December and Februarythe Treasury must cancel expirations by more than US$6.2 billionof which US$3.7 billion are payments to the IMF, US$1,000 million will be allocated to other international credit organizations and ones US$1.5 billion are in concept of public titles.
It is also worth mentioning that in the coming years, according to Ecolatina, between 2024 and 2026 the Government will have to face maturities for more than US$53,000 million (excluding Non-Transferable Letters, Letters of Guarantee and Guarantees), which is equivalent to more than US$17.8 billion on average per year.
Source: Ambito
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