2023-07-19 19:39:58
The agreement with the IMF is essential so that there is certainty in the government in the face of STEP of August 13.
In this context, we communicate with Santiago ManoukianEcolatina economist, who spoke regarding the current economic situation in the country.
Agreement with the IMF in suspense
“The negotiations have been taking much longer than the government itself expected”explained Manoukian, who later completed: “There were strong rumors that it was closing soon and it still hasn’t happened.”
“The drought meant that none of the IMF goals might be met,” said the economist. “We have to see if the disbursements arrive on time to pay him 2,600 million dollars at the end of the month”supplemented.
Along the same lines, the interviewee said that the swap with China might be used once more to pay if the disbursement does not arrive on time. “This might be problematic because that money might not be used for other purposes such as imports”he added.
The role of China and the BCRA reserves
On the other hand, Manoukian said China’s lender of last resort role exists in other countries around the world. “We estimate that close to 3.3 billion dollars of the swap has already been spent”he detailed.
“There is still a margin for negative bookings to continue to become more negative,” shot the expert. “Depositors have not yet been scared by the negative reserves”, he completed.
Finally, Manoukian said that “it is unlikely that the next government will start with a default.” “There is a growing debt in dollars that is going to have to be renegotiated”he concluded.
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