While the IMF Expects Reforms Before December, the Government Faces a $800 Million Payment
7 Articles
7 Articles
This is an interest payment due this week.The Treasury would have to buy dollars from the BCRA to cancel it.The Fund would approve a $900 million spin in December, but before it demands action.
While productive activity faces the risk of a new technical recession according to private estimates, the Hacienda Palace seeks to collect the Special Drawing Rights necessary to avoid any non-compliance with the agency.
The decision also raises concerns about the country ' s forthcoming debt commitments.
The technical staff of the international organization approved the third review of the agreement with Argentina, but there is still the endorsement of the executive board that would only be in December. Meanwhile, the economic team analyses alternatives to meet its obligations. Read more
The Treasury must pay interest today to the international organization and, although it has foreign currency deposits of about US$851 million, it could turn to the BCRA to avoid running out of liquidity.
The Treasury has just US$51 million more than the amount it has to face.
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