From Buenos Aires Herald · Buenos Aires Herald · · 1m
Government Faces $800m IMF Payment
Argentina's government must pay $800m to IMF this week as dollar reserves dwindle.
In brief
Argentina's government must pay $800m to IMF this week as dollar reserves dwindle. Argentina's government faces $800 million IMF payment this week with limited dollar reserves. Originally reported by Buenos Aires Herald.
IMF Payment Due
Argentina's government faces an interest payment of around US$800 million to the International Monetary Fund on Monday.
Limited Dollar Reserves
Treasury accounts hold only US$851 million in foreign-currency deposits at the Central Bank as of Wednesday, October 28.
Payment Options
Economy Ministry may use dollar deposits or purchase foreign currency from Central Bank to meet the obligation.
IMF Review Progress
IMF staff reached technical agreement on third review of Argentina's program, potentially unlocking US$900 million disbursement.
Funds Approval Needed
IMF Executive Board approval expected in early December for the disbursement after outstanding measures are completed.
Potential Dollar Purchase
Market players suggest Economy Ministry could purchase dollars from Central Bank to maintain liquidity in Treasury accounts.
In short
Argentina's government faces $800 million IMF payment this week with limited dollar reserves.
