The Government finalized this Monday a payment to the International Monetary Fund for about $692 million and on Wednesday it will pay another US$710 million, so it will close January with payments to the agency for some US$2,650 million, in accordance with the maturity schedule established in the current program that refinanced the loan of US$ 45,000 million materialized during the administration of Mauricio Macri.
The payment was evidenced in the reserves of the Central Bank (BCRA) this Monday, which closed at US$ 41,517 million, some US$ 743 million below the closing of last Friday.
The reserves were also affected by the selling balance of the BCRA in the wholesale exchange market and a revaluation of the assets that make up the reserves against the dollar.
The Government will face the expiration of 1,400 million dollars to pay the IMF https://t.co/IgGhvv4ahu
– Telam Agency (@AgenciaTelam) January 29, 2023
The Argentine Government met the goals of the last quarter of the year with the IMF, according to estimates by analysts consulted by Télam, thanks to the implementation of the so-called “soybean dollar II”, adjustments in fiscal accounts and the policy of curbing direct financing from the Central Bank to the Treasury.
This will enable the multilateral organization to trigger in March a new disbursement for Argentina for US$ 5,000 million.
The fourth revision of the program that the IMF maintains with Argentina will be developed in February at a technical level, and it is expected that the revision will be approved in March.
The IMF disbursements are matched so that Argentina can face the expiration dates of the program that this management inherited from the Macri administration, which for the current year total payment commitments for some US$ 19,850 million.
