News of international reserves

Argentina’s net reserves at record low, savings in the spotlight

10-07-2023 18:18 Argentina's Central Bank's net reserves have fallen into record negative territory, intensifying investor concerns about a possible run on the financial system.

BLOOMBERG – ANALYSIS

Argentina is going broke to stall a full-on currency collapse

10-05-2023 15:25 Battle to prevent peso from facing a total meltdown is leaving the Central Bank, by some estimates, broke.

ECONOMIC INDICATORS

Central Bank reserves drop to lowest level since 2016

03-05-2023 12:44 Central Bank reserves slump to their lowest level since October 2016 as institution plunders state coffers to defend struggling peso.

IMF DEBT PROGRAMME

IMF calls for ‘stronger policy package’ from Argentina

02-04-2023 09:14 International Monetary Fund calls on government to adopt "a stronger policy package" in the face of economic crisis and historic drought.

CONCERNING NUMBERS

Massa looks for oxygen until June and next IMF audit

29-03-2023 12:27 Amid controversy generated by Argentina’s latest bond swap and its cost, accelerating inflation and an electoral campaign coming to the boil, Sergio Massa’s economic team seeks breathing room ahead of the International Monetary Fund’s next quarterly review.

IMF DEBT DEAL

Argentina to change IMF net reserve target for third time

26-02-2023 08:46 Argentina and the IMF are discussing a smaller figure for net reserve accumulation in 2023, a cornerstone of the deal seen as the only major anchor providing some stability to the economy.

IMF DEBT DEAL

Argentina seeks fresh IMF approval – and US$5 billion in funds

21-02-2023 15:58 Top officials head to Washington for talks with IMF over latest quarterly review; Government needs to boost reserves amid strong foreign currency outflows and punishing drought that has wrecked agricultural harvest projections.

IMF DEBT PROGRAMME

Argentina’s US$44-billion IMF deal gets latest staff approval seal

03-12-2022 08:07 Third review of nation's US$44-billion debt programme now goes to the IMF’s executive board for approval, which is expected to meet this month; Upon completion, Argentina will have access to about US$6 billion, the IMF said.

IMF QUARTERLY REVIEW

Next round of IMF talks complicated by weak reserves

26-08-2022 11:09 In September, Argentina will sit down with the IMF to discuss the objectives pledged for the second half of the year. Two variables will be under the microscope: inflation and the Central Bank’s level of dollar support. The technocrats responding to Kristalina Georgieva will not accept creative accountancy. Agreements with foreign banks to beef up reserves are on the cards.

DEBT SWAP

Guzmán surprises markets with last-minute debt bond swap

23-06-2022 00:00 Economy Ministry eases 60% of June debt burden in local swap, drastically reducing pressure on the government; Government makes US$2.7-billion payment to IMF.

BLOOMBERG

Argentina finishes first IMF review as path to targets may shift

09-06-2022 09:07 IMF staff and Argentine authorities agree that the annual objectives established at approval of the arrangement will remain unchanged.

BLOOMBERG

Argentina inks US$45-billion staff-level IMF deal in key step

03-03-2022 21:02 Staff-level accord, which includes commitments to narrow fiscal deficit and money-printing while unwinding energy subsidies, will seek to address “persistent” high inflation and public finances.

INTERVIEW / PERIODISMO PURO

Miguel Ángel Pesce: ‘The IMF agreement reduces uncertainty’

04-02-2022 01:08 Miguel Ángel Pesce, head of Argentina’s Central Bank, on the IMF deal, the currency swap with China and President Alberto Fernández’s chances of re-election.

by Jorge Fontevecchia