To date, the Central Bank of the Argentine Republic paid the USD 1,000 million of capital that it had arranged in passive transfer operations in US dollars with two international banks towards the end of July of this year and, in this way, canceled all the passive transfer operations with international banks that it maintained on its balance sheet.
By the end of January of this year, the Central Bank had arranged operations for USD 5,000 million to have additional liquidity support in the face of a still uncertain international context in international markets. At that time, the stock of international reserves had fallen to USD 25 billion and the country still had to face significant challenges in its balance of payments.
The favorable evolution of the global scenario for the Argentine Republic and the improvement observed in the Central Bank’s balance sheet made it possible to reduce the total amount of these operations by 80% towards the end of July, also managing to arrange new operations of these characteristics with one of the lowest rates in Argentine history.
The improvement observed in the Central Bank’s balance sheet continued since July with a firm trend, translating into an additional increase in the stock of international reserves of more than USD 5 billion, even after having canceled external liabilities for significant amounts in October.
Although the international context for emerging economies is still uncertain, the Central Bank currently has international reserves that exceed the stock at the beginning of the current year by more than USD 12 billion, which allows it to continue with the process of improving the quality of its balance sheet and reducing the cost of its international liabilities. maintaining without problems the necessary flexibility to activate at any time the different available mechanisms that it has developed to face possible external shocks if necessary.
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