Como era de esperar el Directorio del Fondo aprobó la revisión del programa de Argentina, aunque dejó en claro que Massa incumplió todas las metas. El FMI aplaude el esfuerzo fiscal que promete el...
Will there be enough reserves in 2015?
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Will there be enough reserves in 2015?
Diciembre 2014
International reserves are now at center stage once more. Creative accounting, short-term borrowing and the postponement of the payment of imports have helped to increase the headline figure to around USD 29 billion. Just without these gimmicks they would only be USD 22 billion.
The market players, for reasons that are not totally clear, feel comfortable with this new figure, and if the government succeeds in issuing three billion dollars of the Bonar 24, as it recently announced that it will try to do, then one should expect a more relaxed 2015 on the reserves front. But much depends on the ability to raise additional money.