Argentina will receive financing from the Development Bank of Latin America and the Caribbean (CAF) to make a payment of 913 million dollars to the International Monetary Fund (IMF) next week, two sources familiar with the matter told Reuters.
Argentina, whose US$44 billion program IMF makes it the largest debtor of the fund, it must make the capital payment on December 21.
The second largest economy in the region has foreign exchange reserves in negative territory and had to use loans from the CAF and Qatar and a swap line with the central bank of China to make recent payments to the organization on time. .
A spokesperson for President Javier Milei and another for CAF They did not immediately respond to a request for comment.
The new Minister of Economy, Luis Caputo, met on Monday with the executive president of the CAF, Sergio Díaz-Granados, according to a source.
All financing of the CAF must be approved by the entity’s board of directors.
Caputo said in a televised interview Wednesday night that the government would make the payment to the IMF, but did not detail how the payment would be made.
On Tuesday, the minister announced a series of economic measures including a more than 50% devaluation of the peso to 800 per US dollar, as well as cuts in energy and transportation subsidies and a tax increase.
Source: Gestion
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