Argentina: caída de reservas e hidrocarburos.

Argentina's Bank Reserves and Prospects for an Energy Revival
MAY 30, 2014

The Argentine government has announced that it will settle outstanding debts with the Paris Club, a group of 19 public creditors including mostly European countries, the United States, Canada, Australia and Russia. In total, Argentina has promised to pay back a total of $9.7 billion over the next five years. By settling its debts, Buenos Aires is taking one step closer toward regaining access to international credit markets. 

How Argentina intends to repay its debts is unclear. Most likely, it will withdraw money from its Central Bank Reserves. However, these reserves are falling quickly for a variety of reasons. For one thing, Buenos Aires has already used the reserves to pay other outstanding debt. Moreover, the country is in the throes of a major capital flight and a declining trade surplus, which is owed to the fact that the country is a net importer of oil and natural gas and not a net exporter as it once was. This is partly why Argentina so desperately needs to return to international capital markets: It must be able to finance its own energy investments. Argentina's energy sector has some things going for it. The country is thought to have enormous conventional and unconventional hydrocarbon deposits, and energy infrastructure is already in place. If Buenos Aires can bring some of its production back online, it will first have to satisfy domestic demand so that it does not have to rely so much on neighboring Chile and Bolivia for importing hydrocarbons. From there, Argentina just might be able to become a net exporter of energy once again.