This emerges from a report prepared by the Congressional Budget Office which points out that the year started with a heavy load in the payment of interest on the public debt.
In interest paid in january for the titles issued in the process of restructuring debt in foreign currency for 2020, for the equivalent of US$1,022 million.
On the other hand, in January they paid loan amortizations for US$2,948 millionincluding the Payment to the IMF for the 2018 stand-by program for US$2,656 million.
Besides, disbursements for US$255 million were received, of which US$230 million came from China Development Bank for the acquisition of equipment; works on the Belgrano Cargas railway (US$18 million) and the construction project for hydroelectric exploitation of the Santa Cruz River (Cepernic and Kirchner dams) for US$212 million.
also placed a Non-transferable bill to the Central Bank for a term of ten years for US$7,133 millionto refinance the capital and interest services of other similar bills held by the BCRA.
During the previous government, a record level of public debt interest was canceled for US$19,442 million in 2019.
At the same time, between 2020 and 2022with the current Government, the disbursements for interests totaled US$21,775 millionto which are added the US$1,463 million in January.
Total, the cancellation of interest was US$23,238 millionwhich reflects the weight of the debt on Argentina’s commitments.
Of that total, the IMF received US$4,374 million and the rest of the international financial organizations such as the IDB and the World Bank, another US$2,134 million.
How were the debt payments.
During 2020, interest disbursements reached an amount equivalent to u$s8,043 million, of which 46% was made in foreign currency.
Payments of bonds and bills represented a 71% of the total, being 26% in foreign currency.
The processes of restructuring of debt carried out during the year allowed a reduction of the weight of interest in foreign currency.
Regarding interest payments to multilateral organizations, they totaled u$s1,994 millionof which 65% (US$1,306 million) corresponded to the loan with the IMF.
During 2021 interest cancellations totaled an amount equivalent to u$s6,103 million, of which 36% was made in foreign currency. Payments of bonds and letters represented 67% of the total, being 95% in local currency.
interest payments to multilateral organizations totaled US$1,969 millionof which 68% (U$S1,347 million) corresponded to the credit of the IMF.
During 2022 interest payments reached an amount equivalent to u$s7,629 millionof which 53% was made in foreign currency.
The bond interest represented 60% of the total, being 69% in local currency.
Payments to organizations totaled US$2,545 million, of which one 68% (US$1,721 million) corresponded to loans from the IMF.
Source: Ambito
