Argentina’s international reserves stood at US$44.598 billion at the end of last year after registering an increase in the previous quarter of 2022, the National Institute of Statistics and Census (INDEC) reported yesterday, Tuesday.
In the fourth quarter, the South American country’s reserves reported a net increase of US$6.973 billion, of which US$5.969 billion corresponded to the balance of payments transactions.
Another increase of US$1 billion in the country’s reserve assets corresponded to “modifications in the parities between currencies”, detailed the state entity through a report.
The increase reported in the last three months of 2022 occurred amid a financial incentive program for the agricultural sector promoted by the Argentine Executive.
The program known as “Dólar Soja” (Soybean Dollar) was explicitly aimed at oilseed exporters and consisted of a differential dollar for this sector to guarantee the liquidation of foreign currency from exports.
The increase in the level of reserves at the end of last year allowed the country to comply with the commitments established in the debt agreement with the International Monetary Fund (IMF).