In 2023,
there were interest payments on public debt for a total of US$7,255 million.
And the private sector also transferred another US$3,106 million.
In total US$ 10,361 million
, according to the Central Bank Report.
Interests of US$3,017 million were paid to the IMF,
US$2,166 million to the rest of the international financial organizations, and another US$2,072 million to private creditors, according to details from the Central Bank.
Thus,
the US$ 10,361 million in interest payments
explain
half of the US$ 21,525 million drop in the Central Bank's reserves
during last year.
On the other hand, between payments and disbursements, the account with the IMF showed a deficit of US$ 5,078 million.
The IMF Report details that
“compared to the level of December 2022, the BCRA's international reserves decreased by 48%
, which meant a drop of US$ 21,525 million.
This reduction was mainly explained by the net payments of capital, interest and charges to the IMF for US$ 8,394 million (6,236 million SDR).”
Reserves also decreased due to
“the net cancellation of capital and interest with other international organizations and
other financial debt of the National Treasury for US$ 5,677 million.”
And due to “the drop in foreign currency holdings of the entities for US$ 2,968 million, and due to the net payments settled by the BCRA through the Local Currency Payment System, partially offset by the net purchases of the BCRA in the currency market. changes and the increase in the price in US dollars of the assets that make up the reserves for US$ 150 million.”
On the other hand, in the annual accumulated, the net expenses of 2023 for payments of services totaled US$ 6,196 million, which among others includes “Travel, tickets and other card payments” and “Freight and insurance”.
On the income side, the Report highlights that there were export charges for US$61,633 million and import payments for US$49,178 million.
And “the income through the stock market was added, which in 2023 was US$2.2 billion, so the total net income of goods for the year would have been about US$14.7 billion.”
S.N.