Overview
- The central bank reported gross international reserves at US$43.61 billion after a US$596 million daily increase and roughly US$1.2 billion added over the week.
- Analysts estimate about US$3.9 billion of this year’s gain comes from revaluation of the BCRA’s 1.98 million ounces of gold, alongside recent disbursements from international organizations.
- Economy Minister Luis Caputo said about US$900 million was purchased outside the official market as Treasury dollar deposits neared US$2 billion to prepare for the US$4.2 billion payment due January 9, with Comahue dam privatization contracts expected to bring about US$700 million.
- Despite higher headline reserves, market measures put net reserves near negative US$16 billion under IMF criteria, pointing to a likely request for a new waiver under the program.
- November data show private net dollar buying fell to roughly US$1.1 billion while the current account posted a US$1.163 billion deficit, and the BCRA noted about 70% of card and travel outflows are paid with clients’ own foreign-currency funds.