Tercera revisión del Stand By con el FMI

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Third revision of the Stand By Arrangement with the IMF

Second week
April 2019

The IMF’s board approved the third revision of the program and authorized the disbursement of USD 10.8 billion that correspond to the first quarter of 2019. For the second and third quarters, a USD 5.4 billion disbursement is expected, while USD 980 million will be wired in the fourth quarter subject to compliance of performance standards. All in all, the disbursements will total USD 22.6 billion in 2019. There are mainly two areas where there has been a deviation in comparison to the last bimonthly revision: revenues and inflation. We believe these deviations will remain for some time.