Argentina's Treasury made a payment to the IMF of USD 796 million this Friday, causing the Central Bank's (BCRA) reserves to fall well below the USD 41 billion mark, dropping by USD 4.26 billion. This was the highest payment to the multilateral body scheduled for the year. This disbursement to the international credit organization was planned for last week but ultimately did not take place. It is the final payment of the year that the Government must make to the Fund as part of the agreement renegotiated by the current administration with the organization. To make this payment, the Ministry of Economy had to purchase dollars from the BCRA. The payment was made using Special Drawing Rights (SDRs) held by the monetary regulator. To this end, the Treasury had to carry out a new exchange of Letras Intransferibles, as it did in recent days.
