Monday , May 23 2022

The rule is the exception ?: The Treasury sold the BCRA


That the IMF can & # 39; eyes turn to "things" does not mean that the Government has not much room to maneuver to comply with the agreement. It happens that on the last day of & # 39; 2018 business with the Central Bank recorded a purchase & # 39; foreign currency to the Treasury for the equivalent of & # 39; $ 43 699 million (at the exchange rate of the day is around US $ 1,156 million). Of & # 39; It may be recalled that the IMF sent the third and last payment of the year (US $ 7627 million) in prepayment Christmas. Although analysts are not surprised that the Treasury use part of the fund coins to cover the fiscal deficit and b & # 39; so close the year, and has created noise. As agreed with the Fund in the event that the Treasury needed to make pesos in exchange for foreign currency, to face the current costs, the auctions should be made to avoid discretion.

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