IMF sets new disbursement in favor of Argentina for 10.8 million USD

March 26, 2019

The International Monetary Fund will decide on April 5th. If this is done, the Ministry of Finance prepares the sale of dollars in the market.

The International Monetary Fund will define the next Friday April 5th a new disbursement for Argentina of 10.8 million USD. If the arrival of the agency's dollars is approved, the Ministry of Finance prepares the sale of dollars in the market.

With this shift in funding, the ministry will launch the market intervention system in $ 60 million a day. The planned date has been confirmed at TN.

According to the protocol of the international organization, the IMF completes a series of steps before allowing currency exchange as part of a financial badistance program such as the one signed with Argentina.

The IMF will have a rotation of 10 870 million USD, although it has requested a further adjustment of public expenditure

First of all, a technical examination, which the Fund's economists carried out at the end of February and a report is sent to the council concerning the economic situation. If the body gives the green light, accreditation takes up to 48 hours.

When the Treasury receives this new flow of dollars, the daily calendar of sales of the international currency can be launched. "The exact date on which it will start has not been confirmed yet," they badured the Treasury.

Government to sell $ 9.6 billion to IMF to avoid sharp increases

The government will make available a total of $ 9,600 million, amount from dollar surpluses that the executive branch will have this year as a result of previous IMF shipments in the past year.

"Argentina today has a level of liquidity that it has never had in recent years. We ended the year with nearly $ 12 billion in cash. At the end of the first quarter, we will continue to maintain this level of liquidity, "Minister Nicolás Dujovne told Clarín. The North American currency reached a new record and closed at 43.67 dollars from banks.