Argentina paid the IMF $370 million in interest on a $44 billion debt that was rescheduled late last month, according to officials.
At the end of the day, the Central Bank’s bulletin indicated international reserves of $37.18 billion, up from $37.18 billion the day before, which corresponded to the amount paid out on Friday.
Argentina made its second payment of the year, following a $700 million transfer last Friday, the same day the postponement announcement was made.
Argentina and the IMF announced a week ago an agreement in principle on a renegotiation of the country’s $44 billion debt in return for economic reforms.
Under the new deal, Argentina has committed to progressively reducing its fiscal deficit from three percent of GDP in 2021 to 0.9 percent in 2024.
The gradual reduction — to 2.5 percent in 2022 and 1.9 percent in 2023 would “not prevent the recovery” of the economy, Economy Minister Martin Guzman said last week.
