The reserves of the Central Bank fell again and drilled the US$ 33,000 million

Despite the purchases of the last 13 rounds, the gross reserves of the Central Bank (BCRA) fell again this Tuesday and closed at US$32,907 million.

It should be remembered that on Monday they had already gone down $93 millionclosing the day at US$ 33,062 million, a new floor since October 11, 2016.

Meanwhile, this Tuesday the settlements per soybean dollar decreased 29.9% or $28.4 millions compared to Monday, and contributed US$ 66 million.

The blue dollar generates tension again and closes higher again this May 23

However, the monetary authority ended with a net purchase balance of US$14 million and made payments for energy imports for about US$50 million, according to NA.

In perspective, this year the BCRA assets decreased during US$11,536 million either 25.9%failing to meet the reserve goals for the first quarter that appear in the agreements with the IMF.

Concern about BCRA reserves

Economic operators maintain concerns about the low level of international reserves, in a context of shortage of foreign currency due to the drought, the drop in exports and the strong debt maturities scheduled for June and Julyrecommended NA.

Countdown to meet the goals of the BCRA reserves

Within this framework, the government accelerated negotiations with the International Monetary Fund (IMF) on the reformulation of the agreed program in order to have disbursements from the agency as soon as possible and to deal with upcoming payments.

Among them, the maturities with the IMF and also the debt commitments with bondholders, since on July 9 some US$ 1,000 million of interest must be paid bonds issued in the construction of 2020 (Bonars and Globales), of which an estimated 70% are in the hands of private investors.


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