The Minister of Economy, Martín Guzmán, and the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, in Washington last week.
This Friday maturing US $ 686 million debt capital to the International Monetary Fund, while on May 1 the repayment of interest for $ 363 million.
This is a total of US $ 1,049 million that, like the previous payment of US $ 2,808 million, the Central Bank will cancel, between this Friday and Monday, with US $ 9,656 million in Special Drawing Rights (SDR) which, as part of the agreement, was sent by the IMF to Argentina.
The SDR is the “currency” used by the IMF for your transactions. Its value varies daily according to the evolution of the dollar, euro, yen, pound and yuan. An SDR was equivalent on April 28 at $ 1.3399.
After these payments, the Central Bank’s reserves will have a significant decrease and, due to the repayment of capital, the debt to the IMF will reach approximately US $ 45,000 million.
With the IMF contribution and the cancellation of maturities in March, the total Central Bank reserve, which stood at US $ 37,075 million, increased to US $ 43,321 million. Since then, on April 26, they have fallen to US $ 42,646 million and they will go down again after paying these days to the IMF.
Meanwhile, for the exceptional loan granted in 2018 along with refinancing in March, during the governments of Mauricio Macri and Alberto FernándezArgentina will pay the IMF US $ 4,760 million in interest, charges and surcharges.
Subsequent payments to the IMF, due on June 21 and 22, must also be canceled including the balance of disbursement made by the IMF at the end of March.
The repayment of the following maturities depends on the new disbursements which the IMF does based on audits made in the evolution of the variables contained in the agreement.
In part, the debt and interest account with the IMF will change based on these new disbursements.
According to the latest data from the Ministry of Finance, on March 31, including what was owed to the IMF, total debt reached total amount equivalent to US $ 376,278 millionof which US $ 373,758 million is in the normal repayment situation.
31% of the debt in a normal repayment situation will be paid in local currency, while the remaining 69%, in foreign currency.
On the other hand, “in the last 12 months, the stock of total debt in the normal payment situation increased for the equivalent of US $ 40,768 million, mainly due to the increase in foreign currency debt of US $ 5,149 million and the increase in debt in local currency for an amount equivalent to US $ 35,619 million “, the Report points out.
In relation to November 2019, the beginning of the current administration, the debt in a normal repayment situation increased by the equivalent of US $ 62,979 million. In foreign currency, the increase was US $ 8,631 million and in national currency for the equivalent of US $ 54,348 million, almost all in pesos adjusted for inflation.
national public debt excluded that of the provinces or of the Central Bank.
NE
Source: Clarin
