The Central Bank of Argentina (BCRA, for its Spanish acronym) met its 2026 dollar-buying target with the International Monetary Fund (IMF) in just six months, thanks to a strong showing from the agriculture and energy sectors.

As of the end of last week, the BCRA had bought US$10.1 bn in 2026, surpassing the US$10 bn full-year target — a milestone that puts Milei’s government in a strong position to meet its IMF reserves accumulation goal for the first time since taking office.

Last week, Economy Minister Luis Caputo spoke about the achievement. “In a very optimistic scenario, we thought that, with things going very well, the Central Bank could buy US$7 bn over the year. But if we can keep the current pace, we could end up buying US$24 bn.”

He added that by 2031, “the energy and mining trade balance will reach US$60 bn — that’s US$40 bn more than today.”

The........

© Buenos Aires Herald