In November, unlike what happened in the previous two months, International Reserves increased again as a result of positive results in both the current account and the financial and foreign exchange capital account, to stand at US$ 13,483 million at the end of the month.
The positive balance of the current account was partially reduced, basically due to a decrease in export collections – due to the seasonal drop in settlements originating in the oilseeds and cereals sector – and import payments continued at a level approximately 50% higher than those corresponding to the same month last year, in line with the reactivation of economic activity.
The net formation of external private assets, on the other hand, was at a low level (70% lower than the average of the previous three months) and the fact that, for the first time since the establishment of the Single and Free Exchange Market (MULC), there has been a net sale of banknotes by the private sector.
Operations with the International Financial Institutions yielded, in this month, a positive result, largely as a result of a strong net disbursement by the World Bank that offset expenditures with the IMF and other organizations.
