Argentina Budgets $9.9 Billion of Reserves to Pay Debt in 2014
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Argentina will tap a record $9.86 billion of central bank reserves next year to make payments on its foreign debt, according to the 2014 budget bill presented to Congress today.
South America’s second-biggest economy will expand 6.2 percent in 2014 after growing 5.1 percent this year, Economy Minister Hernan Lorenzino told lawmakers. Annual inflation will slow to 9.9 percent in December of next year from 10.5 percent this year, according to estimates included in the bill.