The total gross public debt of the National Treasury It rose to US$403,044 million in March, of which US$400,597 are in a normal payment situation. This was reported in a document published by the Ministry of Finance, which depends on the Ministry of Economy. It increased by the equivalent of US$16,507 million compared to February, an increase of 4.3%.
The variation, according to the report, was explained by the decrease in debt in foreign currency by US$514 million and the increase in debt in local currency for an equivalent amount in dollars of US$17,015 million.
Still, the stock of Total gross debt of the Central Administration in March was lower than the historical record it reached in November 2023.
Debt composition
78% of the gross debt in a normal payment situation corresponds to Titles and Bills of the National Treasury, 20% corresponds to obligations with Official External Creditors, 1% corresponds to Temporary Advances and the remaining 1% to other instruments.
During the last 12 months, the stock of gross debt in a normal payment situation increased by the equivalent of US$4,852 million, due to the decrease in debt in foreign currency by US$5,098 million and the increase in debt in local currency for an amount equivalent to US$9,950 million.
In March, for the second consecutive month, obligations under foreign legislation – external debt – decreased by US$547 million, which is added to the cut of US$1,183 million in February. But the obligations under Argentine legislation rose to US$17,054 million.
In the first four months of the Governmentthe external debt rose US$723 million and, in national currency, due to the devaluation of December 2023, the equivalent of US$22,973 million was liquidated.
At the same time, the balance of debt with international organizations also decreased for the second consecutive month by US$125 million with the IMF and US$234 million with the rest, as well as with the Paris Club.
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Quasi-fiscal debt grew
The quasi-fiscal debt It rose US$1,906 million as a result of having a monetary policy rate much higher than the devaluation. In this sense, it emerges that if those of the BCRA are added to the obligations of the Central Administration and Treasury commitments with the entity are discounted (Transitory Advances), a joint net debt balance of US$434 million arises, a nominal growth of u $18,497 million.
However, the Ministry of Finance clarifies that “due to recommendations from statistical manuals and based on international definitions, it uses the official wholesale dollar as the unit of account.”
Source: Ambito
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