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For the BCRA, the amount of the debt would be less than half of what was estimated


According to the BCRA, the current financial burden of debt for imports of goods and services would be US$15.2 billion, less than estimated based on previously available sources.

Courtesy: elmanana

The excess commercial debt of importers would be less than half of what was previously estimated, according to indicated this Friday the Central Bank (BCRA) it’s a statement.

In comparison with projections based on BCRA records (US$57.8 billion as of December 12, 2023), the amount of debt registered in the registry of the Ministry of Commerce (US$42.6 billion as of December 12, 2023) ) suggests that “the current financial burden of debt for imports of goods and services would be US$15.2 billion less than estimated based on previously available sources”said the monetary authority.

In turn, from the Central they highlighted that “the commercial debt of importers normally ranges around (US$29,000 million) (average for 2017-2021). Therefore, the updated information obtained through the register of the Secretary of Commerce (US$42.6 billion) suggests that “The commercial debt of importers that exceeds the usual amount with which the economy operates would be approximately US$13.6 billion.”

That is, the demand for foreign currency necessary to normalize the commercial debt burden of importers “turns out to be less than half (47%) of what was estimated (about US$28.8 billion) based on available sources.” prior to the registry of the Secretary of Commerce”.

Moving forward, the BCRA maintained that “The burden represented by the process of normalizing this indebtedness will weigh heavily on the results of the country’s balance of payments, but the new estimate of its size is positive news.”

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