In 2023, Interest for a total of 7,255 million dollars was paid on the public debt. And the private sector also transferred another $3,106 million. In total 10,361 million dollarsaccording to the Central Bank Report.
Interest of $3,017 million was paid to the IMF, to the rest of the international financial organizations 2,166 million dollars and to private creditors another 2,072 million dollars, according to data from the Central Bank.
AS, the $10,361 million in interest payments they explain half of the $21,525 million decline in Central Bank reserves During the past year
Between payments and disbursements, however, the account at the IMF showed a deficit of 5,078 million dollars.
The International Monetary Fund report explains this in detail “Regarding the December 2022 level, BCRA international reserves decreased by 48%, which means a decrease of $21,525 million. This reduction was mainly explained by net payments of principal, interest and charges to the IMF of $8,394 million (SDR 6,236 million).”
Reserves also decreased by “the net payment of principal and interest with other international organizations and another financial debt of the National Treasury for 5,677 million dollars”. And due to “the decline in entities’ foreign currency holdings of $2,968 million, and net payments settled by the BCRA through the Local Currency Payment System, partially offset by the BCRA’s net purchases in the foreign exchange market. ” and the increase in the price in US dollars of the assets that make up the reserves by 150 million dollars”.
On the other hand, in the accumulated annual data, the net expenses for service payments in 2023 amount to $6,196 million, which include “Travel, tickets and other card payments” and “Transportation and insurance” among others.
On the revenue side, the Report highlights that there were export expenditures of $61,633 million and import payments of $49,178 million. And “income through the stock market was added, which in 2023 was $2.2 billion, so total net merchandise income for the year would have been approximately $14.7 billion.”
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Source: Clarin
