Government liabilities represented 54% of the total external debt, which as of June 30 was US$286,881 million, according to INDEC.
The Government’s external debt fell in the second quarter of 2024with respect to the first, fundamentally as a consequence of payments to International Monetary Fund (IMF) and private bondholders. Even so, liabilities remained at high levels, above US$150,000 million.
According to a report published by the INDEC this Friday, between March 31 and June 30 the debt of the general government yesand contracted US$2,486 million, up to US$154,536 million. Most of this reduction was explained by the numbers of the national government, which at the end of the period concentrated more than 90% of the obligations with non-residents.
In effect, the debt of the national, or central, Government fell by US$2,293 million, mainly due to the amortization of liabilities with the IMF (-US$1,417 million) and with security holders (-US$719 million).
Government debt represented almost 54% of total external debt, which ended the second quarter in US$286,881 millionand explained most of the decline in it.
The second most relevant actor, in terms of debt placements, was Non-financial Corporations, households and non-profit institutions that serve households (NPISH), with more than 35% of the total, standing out within this segment the credit that is made between companies. In this case, the liabilities also decreased, by US$1,030 million.
external debt.JPG
Improvement in financing capacity
In the report, INDEC also showed that between April and June there was a current account surplus of US$3.49 billionwhich implied a strong improvement compared to the deficit of US$6,577 million in the same period of the previous year. This increase essentially responded to the result of the balance of goods, generated by a recovery in exports after the drought and an import payment schedule that was not yet normalized.
Fundamentally due to this surplus, in the second quarter of 2024 the financing capacity for the Argentine economy amounted to $3,580 million.
Source: Ambito
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