Overview
- The government moved to cover a roughly $800–$876.7 million IMF repayment in early November using constrained dollar resources, leaving only about $50–$51 million in Treasury dollar deposits if those funds were used.
- IMF staff approved a third review that would allow an approximate $900 million disbursement but the Directorio must formally approve it in early December and the release is tied to agreed fiscal and tax measures.
- Officials are weighing three options to source dollars for the payment: use Treasury deposits at the BCRA, buy dollars from the central bank (which would reduce net reserves), or secure roughly $1,000 million in guaranteed financing from multilateral lenders.
- Market reports say recent Treasury FX intervention — a sale of about $100 million followed by a $44 million repurchase — likely trimmed the cash buffer and the country’s risk indicator sits near 787–800 points, keeping access to private international markets closed.
- The immediate payment relieves a short‑term deadline but heightens pressure ahead of much larger maturities in January 2027 (about $4.5 billion to private bondholders) and a heavy 2027–28 external amortization schedule that will test Argentina’s ability to rebuild durable dollar reserves.