Overview
- - The Treasury needs to cover about USD 4.2 billion on January 9 and has roughly USD 1.8–1.9 billion available, leaving a financing gap near USD 2.3–2.4 billion.
- - Officials are negotiating with the IMF for an estimated USD 1.05 billion tied to the Extended Fund Facility’s second review and a revision of the reserve target.
- - The government is working on a short-term repo with international banks and has the U.S. swap line as a contingency, alongside expected proceeds of about USD 700 million from hydropower concessions.
- - A new inflation-indexed banded exchange regime began January 1, with the BCRA authorized to buy up to 5% of daily FX market volume, though it has not purchased dollars; reserves rose about USD 1.934 billion to USD 43.099 billion on seasonal flows.
- - Markets are focused on the payment outcome as the official dollar sits near ARS 1,495 with the band ceiling around ARS 1,529–1,533 and country risk near 553 bps, while operators reported Treasury sales to keep the rate below the upper band.