The Central Bank Receives US $ 10,835 Million from the IMF and the Treasury Prepares to Sell Dollars

Four days after official approval by IMF board of new disbursement to Treasury on Tuesday u $ 10,835 millions have come to the coffers of the central bank. The reserves, in this way, have reached the record amount of $ 77,478 million. Starting next week, Hacienda will begin selling $ 60 million worth of US dollars a day.

According to the BCRA, on Tuesday, "the income corresponding to the fourth installment of Stand By credit to the International Monetary Fund was recorded for an amount equivalent to $ 10,835 million," said the monetary authority. Thus, reserves exceeded Tuesday the maximum recorded on March 3, while they had reached $ 68,578 million.

It is about larger expenses that the country will receive until the finalization of the agreement of financial badistance, scheduled for June 2021. By the end of the year 2019, the IMF will send, after a quarterly badessment of the compliance with the specifications included in the program, u5400 million dollars in June and September and of u $ 973 million in December.

This last figure will be included in the four projects planned for next year and in the two projects 2021, which will be the last. The repayment schedule will imply that between 2022 and 2023, the government will have to return $ 33 billion to the agency, a figure that badysts consider high and that could be renegotiated in the coming months, so that the payment period is more lax.

The arrival of the IMF's dollars will allow the Ministry of Finance to implement a program for the coming week. daily currency sales on the market, which could help reduce the tensions of exchange. The auctions will represent $ 60 million per day that the Treasury will offer at the exchange rate in effect at that time.

Strictly speaking, the $ 9600 million that the government will sell will not be those that have just arrived from Washington, but it is about excess balances previous disbursements from the IMF that the executive did not use. With daily sales, you will be looking for the pesos you need to meet the budget expenses.