LatAm Briefs: Argentina And IMF, ANCAP 2020 Loss

(Energy Analytics Institute, 23.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: the IMF contemplating lending $4.4bn to Argentina and Uruguay’s ANCAP reporting a $12mn loss in 2020.

IMF Could Lend $4.4bn To Argentina

The International Monetary Fund (IMF) could lend Argentina around $4.4bn, according to reports 23 March 2021 in the daily newspaper Clarín.

The amount is relevant for Argentina since it is close to the $4.8bn the country needs to pay to the agency this year, the daily reported citing Matías Carugati, an economic and director with Seido.

ANCAP Reports $12mn Loss In 2020

Uruguay’s state entity ANCAP reported a loss of $12mn in 2020 as the coronavirus pandemic weighed in heavily on its finances.

In its individual balance, ANCAP reported a loss of $37mn, the daily newspaper LaRed21 reported on 23 March 2021.

“Although the operating result was a positive $34mn, there was a $71mn financial loss largely due to the variation in the exchange rate generated by the high net liabilities in dollars,” the daily reported.

____________________

By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.