The government will comply with a partial payment to the International Monetary Fund (IMF) on Wednesday US$1.9 billion in Special Drawing Rights (SDRs). Official sources are, as expected, deposited with the central bank.
“The amount disbursed in STR (IMF currency) was $1.9 billion,” Reuters confirmed. The activity takes place throughout the day and shows its impact on inventories. This week, for its part, obligations with the International Credit Union for 2,700 million dollars expire.
The rest will be completed by the end of the month. After providing the IMF for ongoing review, which should have been completed before this deadline. However, censorship persisted as the government added to the debate on targets and the impact of drought.
Argentina is negotiating with the IMF changes in agreed targets The impact of the historic drought hit the economy and cost the country more than $20,000 million.
Negotiations are continuing through video conferencing and through the Economy Minister. Sergio Massa to go to Washington once deal is done It refinances the loan granted to Mauricio Macri to make the objectives of the program signed last year with IMF officials more flexible to 44,000 million USD.
“Virtual meetings continue. As they close, the advanced technique of writing trips. And When everything is written, travel there Massa“A government source said over the weekend.
Argentina is seeking an advance of US$10.8 billion in planned issuance later in the year, with the idea of bolstering central bank reserves.
MATURITIES AND ISSUES
What is planned Review the expiration schedule. This year, even if total payments are brought forward, there will be an additional US$1.6 billion. Argentina should receive additional funding.
For LCG economists, the expectation is “The IMF is refinancing for maturities between now and September (U$s 6,815 million) and provide an additional amount in consideration of difficulties caused by drought to help meet the requirements of the next quarter”. where the country is failing to meet all targets”.
In the government they recognize that the fund is not ready to collapse the program with Argentina, because the loan of more than 45,000 million US dollars given to the government of Mauricio Macri is 40% of what was done by the organization. Internal weight.
