Monday , August 2 2021

The government spent 80% of the dollars sent by the IMF in the last shipment



Economist Sergio Ariel Chuza warned of his social networks: "It's already spent 80% of what happened in the last installment of the IMF. For the flight of capital and the payment of interest on debt, it left the reserves 4 out of every 5 dollars from the last income of IMF funds, equivalent to a reduction of $ 8,500 million in less than a month. "

One of the reasons that the Central Bank's reserves lost $ 1,926 million were the payment of about $ 1,600 million (capital and interest) of Bonar 2024 holders. But that will not be a major problem, but investors have decided Do not do more business in land, but money is leaking.

Argentina's financial resources suffered a major deterioration due to the poor economic situation of the country: the possibility of defaults due to a very high risk for the country. On 9 April, the International Monetary Fund sent Argentina a fourth deposit of 10.835 million euros, but in just one month the reserves fell by 8,555 million dollars.

As if that was not enough, BCRA by the end of last month, more than one journalist and media warned that the entity began to limit information on financial movements. Until this week, the monetary authorities communicated on a daily basis with a significant level of detail on variations in reserves.


Source link