Foreign Exchange Market, Debt and Build-Up of Foreign Assets 2015-2019

The National Presidency has required the BCRA to make a detailed report on regulation, access and operation of the forex market from December 2015 to December 2019.

The BCRA’s statistical resources place it in a privileged position to spotlight and analyze some of the economic and financial processes that led to the current crisis in Argentina.

In the first part of the report, there is a brief review of specialized literature on the history and dynamics of foreign debt crises in Latin America. The second part describes the mechanisms of indebtedness and capital flight which triggered the current debt crisis. Finally, the third part introduces the main conclusions of the statistical analysis on the transactions made in the forex market in the 2015-2019 period.