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Massa In Washington, BCRA Buys Dollars From Soy Exporters At New Rate

ARGENTINA
  • Economy Minister Sergio Massa is in Washington to meet officials at multilateral lenders. He landed in Washington on Monday to begin his official visit to Treasury officials, multilateral lenders and businessmen.
  • On Tuesday Massa met with the U.S. State Department's Principal Deputy Assistant Secretary Ricardo Zuñiga. Additionally, he reportedly met with corporate executives, the President of the IDB Mauricio Claver-Carone, and Biden’s adviser Juan Gonzalez.
  • The trip comes amid a push to try and bolster the nation's reserves while continuing to adhere to the latest agreement with the IMF as the country battles with inflation that is exceeding 70%.
  • Massa said on Twitter his meeting Tuesday with Claver-Carone, will allow Argentina to strengthen the country’s reserves and guarantee financing.
  • For reference, Argentina’s central bank reserves fell again on Monday to $36.6 billion, their lowest level in almost six years. (BBG)
  • Argentina’s central bank bought around $320m from soy exporters at the differentiated exchange rate of ARS200/USD for the sector, according to people with direct knowledge of the matter.

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