Overview
- The government faces an IMF interest payment of about US$800–877 million that it must meet this week and its foreign‑currency deposits at the central bank were reported at roughly US$851 million.
- IMF staff approved a third technical review that would free about US$900 million, but the Executive Board must ratify the disbursement in early December and it is conditioned on agreed tax and fiscal reforms.
- Officials are weighing three options: use the Treasury’s dollar deposits, buy dollars from the BCRA using peso balances, or convert peso holdings to dollars, with each choice reducing different components of net reserves.
- The government is also seeking roughly US$1 billion from multilateral lenders and expects about US$340 million from the planned AYSA sale to rebuild buffers before year‑end.
- Analysts warn of a larger near‑term shortfall near US$5 billion for the end of 2026 and early 2027 and note much heavier IMF amortizations ahead, especially a large repayment profile between 2028 and 2032.