The variation is explained exclusively by the increase in national currency commitments equivalent to US$10,231 million. Most of the debt is accounted for by treasury bills.
The Finance Secretariat, in charge of Pablo Quirnoreported that the gross public debt The total amount of the Central Administration rose in July by US$9,566 million, to US$452,071 million, of which US$449,617 million are in normal payment status. This increase represents a 2.2% increase over the June balance.
The variation is explained exclusively by the increase in commitments in national currency in the equivalent to US$10.231 milliongiven that those assumed in foreign currency decreased by US$665 million, the official statement highlights.
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He 44% of the debt in normal payment situation is payable in local currency while the remaining 56% is in foreign currency. It is also noted that, compared to the previous month, the debt in normal payment status increased by the equivalent of US$9,555 million, representing a monthly growth of 2.17%. The variation is explained by the decrease in the debt in foreign currency by US$1,115 million and the increase in the debt in local currency by an equivalent amount in dollars of US$10,670 million.
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What happened to the quasi-fiscal debt?
On the contrary, the so-called contracted “quasi-fiscal debt”, as is the case of the Central Bank with the placement of monetary regulation instruments (Bills and Passes), in the equivalent of US$11,519 million -average of the month, at the official exchange rate-, despite the entity maintaining a monetary policy interest rate much higher than the crawling peg since January, because the Economy began to absorb that remunerated liability of the entity placed at one day term with the issuance of voluntary debt in banks (Treasury Bills between 15 and 45 days term), fell on average for the month to the equivalent of US$8.582 billion, and was extinguished on July 22.
Hence, if the obligations of the Central Administration are added to those of the BCRA, and the Treasury’s commitments with the entity are discounted (Temporary Advances that in the month fell by US$101 million, to the equivalent of US$4,386 million) a joint net debt balance of US$456,267 million arises, and a consolidated decrease of US$1,852 million. It was the second consecutive month-on-month decline.
He The balance of debt with international organizations rose by just US$80 million, broken down by US$234 million in the amount contracted with the IMF and increased by US$314 million millions with the rest (World Bank, IDB, CAF, among others.
The methodological report of the Ministry of Finance clarifies that “based on recommendations from statistical manuals and based on international definitions, it uses the official wholesale dollar as the unit of account to provide comparability and standardize statistics.”
Source: Ambito
