External debt fell to US$274,837 M at the end of the first semester

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For its part, the external debt at nominal value of the General Government was reduced by US$1,860 million, due to falls observed in its two main components. The value of loans was estimated at US$983 million less than at the end of the previous quarter, while external debt instrumented through debt securities at nominal value fell US$877 million.

The change in parities between currencies in this quarter favored this result, explained the INDEC. A similar behavior was observed in the Central Bank’s debt, whose value was reduced by US$1,377 million, due to a fall in loans (negative variation of US$1,100 million) and a decrease in the value of the debt originated in SDR allocations for US$277 million.

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If the level of gross external debt is compared to the same period in 2021, an increase is observed given that it stood at US$269,158 million a year ago.

The Current Account closed the second quarter of the year with a deficit of US$894 million, which reversed the surplus of US$2,536 million from April-June 2021, added INDEC.

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The result of the Balance of Payments gathers all the commercial, financial and service movements between Argentina and abroad.

The INDEC also estimated that the money or investments that Argentines have abroad or in another currency other than the peso amounted to US$308,111 million at the end of June.

Of the total external financial assets, US$111,239 million corresponds to direct investment; US$59,382 million to portfolio investment; US$137,880 million, to other investment (consisting mainly of currency and deposits); and US$310 million, to financial derivatives.

For its part, the Balance of Payments reflected a Current Account deficit of US$444 million at the end of the first quarter of the year, which marked a sharp cut compared to US$3,544 million in January-March 2019.

Source: Ambito

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