Argentina recovers international reserves

[bemildred]

During 2004 the Argentine Central Bank managed to increase its international reserves 5,528 billion US dollars totalling 19,646 billion US dollars, equivalent to the mid 2001 level a few weeks before the financial crisis.

This represents a 39% increase over the 2003 reserves level when the net addition totalled 3,649, reports the Argentine Central Bank.

The Bank’s assets dropped abruptly when Argentine abandoned the convertibility system in December 2001 with reserves reaching a critical minimum of eight billion US dollars in August 2002.

The largest recent international reserve increase dates back to the roaring nineties, 1993, when the Central Bank received 4,480 billion US dollars mostly private loans and significant multilateral credits.

MercoPress

[damntexdem]

1. Well, after all, Argentina doesn't have ...

a misleader like Dubya.