For him rate increase applied by the IMF, this year Argentina will have to pay the international organization interest for 2,480.81 million SDRs (Special Drawing Rights) which, at the current price, are equivalent to record amount of 3.28 billion dollarswhich are added to the 8,800 million dollars paid until December 2023. In total they are 12,000 million dollars.
The numbers come from the IMF as of January 31 and specify that, in 2023, interest payments amounted to SDR 2,255 million. So, this year, The 2024 interest bill has an increase of almost 10%.
Of the 3,280 million dollars, interest of 820 million dollars has been paid in recent days due on February 1st. With this outlay Argentina paid interest to the IMF totaling $9.7 billion.
Due to rising interest rates and surcharges, e with the same capital due – Worth around SDR 31 billion (US$44 billion), interest payments were on the rise.
In 2020, for example, they amounted to 1,321 million dollars; In 2021 they reached a total of $1,350 million; In 2022 they amounted to 1,715 million dollars and in 2023 to 3,008 million dollars.
In 2025 and 2026 the interest remains around 2.4 billion SDRs.
What happened to the fact that the interest burden was more than doubled? with the international financial organization?
When Mauricio Macri took out the loan with the IMF or the former Minister of Economy Martín Guzmán renewed it, in March 2022, The IMF’s general interest rate was very low: less than 1% per year.
For example, during Guzmán’s renegotiation the rate was 0.25%. but about 4 points increase had already been applied: total 4.25%.
Due to the increase in international interest rate, currently (in the week of February 5 to 11) The rate applied by the IMF is 4.133% which, plus the 4 points increase, increases the total 8.133%.
The interest rate applied by the IMF is made up of a base rate, plus a margin of 100 points and any surcharges that are applied when the debtor’s balance exceeds certain limits, as in the case of Argentina. Additionally, there are fees that apply to disbursements: the commitment fee and the service fee.
although the Argentina has called for the elimination of surchargestaking into account the crisis that the country is experiencing and the weight of interests, the IMF has remained and remains intransigent on this point.
Source: Clarin
