Overview
- - The government needs to add just over $9 billion to international reserves by year‑end to meet its revised IMF target, according to LCG cited by local media.
- - The wholesale exchange rate sits at 1,420.50 pesos versus a 1,500.99‑peso ceiling, leaving little room for market purchases without triggering forced Central Bank sales.
- - Luis Caputo told investors a plan will outline reserve accumulation, a sovereign debt buyback, and a potential acceleration of the crawling peg to 1.5% per month within roughly 30 days.
- - The Central Bank funded a $796 million IMF interest payment directly from reserves to avoid pushing the dollar to the band’s top, as daily market volumes could not absorb the operation.
- - Officials are accelerating privatizations and exploring debt placements, while markets rallied with risk premia dipping below 600 bps; January brings a $4.5 billion bond maturity, Bopreal outflows, and an IMF review that could disburse about $1 billion if approved.