Leading companies have recently placed debt in dollars, which the Central Bank used to accumulate reserves. This move has been praised by the International Monetary Fund. The private sector is seeking financing at lower rates, even as the country risk approaches 600 points. This explains why the BCRA was able to purchase over USD 500 million in foreign currency in the first half of the year. Among the companies that participated in the debt placement were the agricultural company John Deere with USD 80 million and the truck giant Scania with another USD 41 million. To this was added Telecom, which made a placement of USD 600 million through a bond issue. And the good news for the Central Bank does not end there, as Banco Macroad announced that it will go on to place another USD 400 million. In the same vein, YPF said it will reopen a bond with a maturity in 2034 for another USD 500 million. Currency purchases have been welcomed by the IMF, whose head, Kristalina Georgieva, celebrated that they are being made at a faster pace than expected.
