As announced by INDEC through the report “Balance of payments, international investment position and external debt,” it indicated an increase in the amount of assets that Argentines have outside the system.
The historic presidential election of 2023 led Argentines to seek to protect their Dollars abroad at the end of last year amid a climate of political uncertainty.
As announced by the INDEC through the report “Balance of payments, international investment position and external debt” indicated an increase in the amount of assets that Argentines have outside the system in the fourth quarter of 2024. Thus, the figure reached at the end of the year US$277,793 million, above the value of the second quarter of 2023, which was $271,499 million.
These estimated $277,793 million take into account the funds hoarded in safe deposit boxes, money from bank accounts declared abroad and banknotes stored outside the system, both in dollars and other currencies.
Dollar: the amount of assets outside the system has grown since 2022
The figure, included in the segment “Other investments” of the international investment position section of the report of the official statistical entity, reflects a growth of 8.5% in relation to the number estimated by Indec a year ago. In absolute terms, they are US$21,869 million more than the US$255,924 million estimated at the end of 2022.
As of December 31, 2023, of the total foreign assets owned by residents, estimated at US$437,398 million, US$263,020 million corresponded to Currency and deposits, followed by Capital Participation and participations in investment funds by Portfolio Investment, at US$55,050 million; Capital participations through direct investment, in US$48,299 million; Portfolio investment debt securities for US$33,176 million; and Reserve assets, which reached US$23,073 million.
Source: Ambito
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