“I want to bring you peace of mind, Argentina is not going to use a single dollar of its reserves to pay today’s maturity”
“On Friday, based on an agreement with the Latin American Development Bank, better known as CAF, a disbursement of one billion dollars was approved”
- A technical agreement, known as the Staff Level Agreement, has been reached within the framework of the fifth and sixth review with the International Monetary Fund (IMF). This agreement will allow Argentina to have access to a disbursement of 7,500 million dollars during the month of August. In addition, the possibility of a second disbursement is opened in November after a new review.
- Despite the uncertainties about the payments that Argentina had to make, the minister assured that the country will not use any of its reserves to pay the maturity today’s debt.
- Last Friday, thanks to an agreement with the Latin American Development Bank (CAF), a disbursement of one billion dollars was approved for Argentina. This agreement had the approval of 20 of the 21 member countries and the decision of the entire Latin American community to strengthen Argentine reserves.
- The Chinese People’s Bank and the Chinese government decided to expand the use of the second tranche of the swap that Argentina has with the Chinese government. This will allow the An additional $1.7 billion needed to complete the $2.7 billion payment to be made in yuan directly from the account of the second swap tranche of Argentina with China to the IMF.
Sergio Massa spoke to the market before the payment to the IMF: “We are not going to use a single dollar from the reserves”
Record dollar: price dispersion reflects market expectations and uncertainty
Coincidences in the market: the IMF relief is short-term and gives the BCRA limited intervention capacity
