Saturday, June 22, 2024
Perfil

ECONOMY | 10-02-2023 11:26

International credit agencies disbursed a record amount to Argentina in 2022

More than US$5 billion in funds were transferred to Argentina last year from multilateral lenders, declared Economy Ministry in new report.

Disbursements by international lending agencies to Argentina reached a record US$5.023 billion last year, according to the Economy Ministry.

According to the records released by the International Economic and Financial Affairs Secretariat, international financing for development projects reached its highest point since 1990. Last year's disbursements from multilateral lenders increased 27.5% on 2021 and even surpassed the previous peak of US$4.669 billion recorded in 2003.

Payments from international agencies picked up from August last year, with 77 per cent –– almost US$4 billion –– arriving in the last five months of the year, according to official data.

The report also highlighted that in 2022 there was a positive net flow (revenues exceeding expenditures) of US$1.913 billion, the highest in the last 26 years.

Contributors of financing included multilateral and bilateral organisations such as the Inter-American Development Bank (IDB), the Andean Development Corporation (CAF), the International Bank for Reconstruction and Development (IBRD) and the FONDPLATA development bank.

The IDB accounted for 48 percent of total disbursements, followed by IBRD with 26 percent and CAF with 19 percent.

 

– TIMES/NA

related news

In this news

Comments

More in (in spanish)