On the contrary, during the quarter under consideration, there were increases in the debt levels of the General Government and the Central Bank.
According to the numbers provided in the Balance of Payments report, 97% of the external debt at nominal value was denominated in foreign currency and 66% in dollars.
In addition, 60% corresponded to the general government, 26% to non-financial companies and 11% to the Central Bank, leaving the remaining 3% for deposit-taking companies and other financial companies.
The INDEC also estimated that the money or investments that Argentines have abroad or in currencies other than the peso amounted to US$417,507 million at the end of last year, above the US$400,225 million in 2020.
Of this total, US$240,615 million corresponded to currency and deposits (57.6%); followed by the capital participation for portfolio investment, US$51,737 million; capital participation for direct investment, US$42,452 million, and reserve assets, US$39,662 million.
External liabilities, on the other hand, totaled US$295,390 million. These were mainly explained by loans, US$112,466 million; capital participations for direct investment, US$67,817 million; and portfolio investment debt securities, US$57,774 million
Of that total external financial assets as of December 31, 10% corresponds to direct investment; 15%, to portfolio investment; 63%, to other investment (consisting mainly of currency and deposits); and 11%, to reserve assets.
As for the Balance of Payments, it reflected a Current Account surplus of US$6.8 billion at the end of the fourth quarter of the year, more than double the US$3.313 million at the end of 2020.
Source: Ambito
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