Overview

• The IMF Executive Board is set to give final approval to the first staff-level review of Argentina’s Extended Fund Facility, unlocking a US$2 billion disbursement by month’s end.
• The Treasury has acquired nearly US$1 billion through block FX operations since late June, raising its foreign-currency deposits at the Central Bank from US$886 million to US$1.514 billion.
• The government enforces the official peso-dollar rate ceiling of 1 275 pesos via market-based interventions and super-high policy rates while futures markets forecast a rate of about 1 458 pesos by December.
• Agroindustrial exporters warn that daily dollar settlements may fall by more than 50 percent—from around US$200 million to under US$100 million—once temporary export-duty cuts expire.
• Overnight caución rates have surged above 80 percent annual, taming peso swings but sharply raising borrowing costs and fueling concerns over a slowdown in economic activity.