ExpoEFI 2026: Entrevista al economista Federico Machado

At ExpoEFI, alongside Milo Farro and Ayelén Romero, Federico Machado explained his analysis of the Central Bank's position and the challenges ahead. 🏦 Net reserves: calculation based on remaining maturity. 💵 Discounts short-term dollar liabilities. 📉 Excludes swaps with China, reserve requirements, repos, and Bopreales. 📊 Key difference: different criteria than the IMF (original maturity). 📌 Debt with the IMF: considered a Treasury liability, not a Central Bank liability. 📉 Reserve accumulation: initially limited by debt payments. 🌾 Reduced seasonal boost: harvest and oil prices. 🌐 Key objective: country risk at 400 points to return to markets. Don't miss our full coverage of ExpoEFI on our YouTube channel #ExpoEFI #Reserves #CountryRisk #BCRA #Economy #Market #Debt #Investment #TradeInformed