Friday , December 4 2020

Twenty days, 35% of IMF's last return left BCRA's reserves



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As the International Monetary Fund sent the final payment to Argentina for US $ 5,631 million, the 35% came from the Central Bank reserves. Monetary authority lost $ 1.978 million of assets as of October 31st due to the payment of the maturities of assets in dollars and the payment of interest for residents other than Bonar 2024.

Yesterday, the stock was closed at US $ 52.063 million compared to Friday, the last business day of the previous $ 500 million, and decreased by US $ 135 million. In other words, the current level contradicts with the US $ 54,040 million reached on October 30th with the return of the IMF and thus managed to raise the previous lowest level of US $ 47,867 million.

The experts consulted by the UAE Negocios think that this cut dynamics is related to the letters expressed in the currency, which are submitted monthly to the Government, but can subscribe to the pesos. and therefore has an effect on the chassis of the BCRA. On the contrary, if the owners of the instrument prefer to withdraw from the financial system, they may even imply a double negative effect on the expiration date and later renewal.

Estudio Eco / Go Federico Furiase, "The conditions to be considered, the dollar renewal rate is higher in dollars and subscribers in fixed currency is the percentage." Said. # If the exchange rate stability persists, the net reserves for the economist, who said, olan you shouldn't have any problems next to the gross reserves that will rise with the next payment of the December Fund kuru will remain arı stable “.

"November was a month for Letes, a month full of interest payments in Bonar 2024 and nearby Bonar 2018," says Amilcar Collante from the Center for Economic Studies in the South (Brave). The government estimates that this latter title is mostly in the hands of public institutions, so it will have no greater impact on Central assets.

Ğ Everything that comes from the fund is paying for debt, as Collante said, expanding as a factor that could increase the level of exchange with China.

He stressed the need to remain calm in the foreign exchange market and to create an "acceleration" in demand for foreign exchange, which is already limited by the decline in imports and tourism.

Eler It will be spent to pay off the IMF's debts, yap Furiase said, expecting the government to spend over $ 5,000,000 this year, because his cash requirements were met at his payments. Lecap sells green tickets at the Hacienda market in 2019, so that deposits can be made.

Source: Diario UAE


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