Wednesday , February 8 2023

The IMF came to $ 7600 million and the reserves reached a new level


Source: Archive

Following the approval of the second edition of the Stand-By edition of the International Monetary Fund (IMF) signed by Argentina, the multilateral organization has today pledged $ 7600 million.

Due to this, the international reserves of the monetary unit have risen to a maximum of $ 66.343 million as noted by the Central Bank (BCRA) in its traditional statement that the financial variables are summarized.

This payment has been confirmed today
RESULTS With the signing of the first agreement with the Ministry of Finance and the BCRA since June of last year, the total weight of US $ 28,090 million is USD 56.3 million.

"Lastly, the International Monetary Fund (IMF) registered a $ 7619 million revenues from the Stand-By agreement today," BCRA said.

The second edition of the IMF was implemented in November last year. In the country, he was the Italian economist and leader of the technical team that inspected Argentina. The board of directors of the Fund last Tuesday was ruled by a multilateral body, David Lipton, because Managing Director Christine Lagarde visited several African countries.

Lipton said that after the meeting, early payment of the revised program of economic reform, including the Argentinean authorities' new monetary policy framework, was early. "The peso has stabilized and the inflation has diminished, as the impact of the peson has aggravated, but the Argentinean economy is still under contract and continues to be sensitive, and changes in market behavior are expected to resume economic activity in the second quarter of 2019," he said.

As it is planned by the payment schedule, in turn, the additional $ 10,800 million will be added in March, as the IMF has published.

The fund backed BCRA's decision to change its unpaid stocks this morning. "The IMF welcomes the Argentine authorities' decision to change the country's reserve requirements or the" minimum monetary structure structure. "Changes proposed by the Argentine Central Bank, the current monetary policy and the monetary base described in the current monetary system more transparent, more efficient and effective does not change their goals, "he said.

At the end of last October, when the Stand-By reorganization was completed at the Finance Ministry, this year they did not have to give dollars to meet the current needs. According to estimates, the amount of pesos placed on the market will be at least until February. However, near Nicolas Dujovne, next year, they were convinced that they would sell something worth $ 15,000 to pay for the Treasury's expenses in time.

Although the IMF's turnout provided a financial plan, the country's risk came at a time when Cambio's record was high.

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