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Argentina creeping closer to the edge

A top economist tells Interfax the Latin American country’s foreign reserves could shrink to ‘near $10 billion’ by October 2015 A top economist tells Interfax the Latin American country’s foreign reserves could shrink to ‘near $10 billion’ by October 2015.
By Chris Noon 21 October 2014 Americas / LNG 0 13978
An Argentine soybean farmer. Buenos Aires is pressuring growers to sell more soybeans to boost dollar reserves. (PA)

Argentina’s bleak fiscal situation could deteriorate further over the next year, with a prominent economist telling Interfax on Monday the Latin American country’s foreign reserves could shrink to “near $10 billion” by October 2015. It would leave Buenos Aires struggling to meet payments for dollar-denominated LNG imports, which are essential to the country’s energy matrix. 

“Argentina would be left with Central Bank reserves approaching $10 billion in a worst-case scenario, which is a fairly extreme decline from where they are right now,”