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With an external deficit to the neck Foreign debt …



Foreign debt reached 254,980 million dollars in the third quarter. This is a 17.2 percent increase, equivalent to 37.47 billion dollars, compared to the same period last year, when the shares were at 217.5 billion. Data is published in Indec's balance of payments final report. The total amount of debt experienced a slight decline, from the order of 6,200 million, due to the accumulated value on June 30, mainly because the problem was blocked by the refusal of international financial markets to receive new loans. This year the economic team could only increase its liabilities with the international market in January, when the team issued bonds worth 8,000 million dollars. Since then, the Government has lost the credibility of international investors and has to take refuge in the emergency loans of the IMF and the Central Bank of China.

Central document official statistics detailing the composition of foreign debt per sector. The Ministry of Finance accumulated liabilities of 158,412 million dollars. Of this amount, 109,705 million are explained by the issuance of bonds, while the rest are instruments classified as loans, where the expenditure of international organizations is calculated. The Central Bank, meanwhile, has foreign debt of 16,544 million dollars. This figure is explained by the 2354 million dollars calculated as special drawing rights (SDR), 1499 million bonds and 12,691 million loans. Between the Ministry of Finance and the Central Bank, accumulated debt with foreign creditors amounted to 174,956 million dollars, equivalent to 68 percent of Argentina's total foreign debt.

The non-financial private sector (especially companies) explained 70,536 million dollars of foreign debt. Indec's details said that out of the total, 14,412 million dollars were due to debt securities, 9110 million dollars in loans, 23,786 million in loans and commercial advances, and 281 million in other obligations. With regard to financial institutions, namely banks and institutions with the capacity to increase deposits from third parties, 9482 million dollars are accumulated. Of this amount, 2,851 million were explained by debt securities, and another 4821 million were loan instruments.

Indec's balance of payments, in addition to foreign debt, offers data on the evolution of current accounts. The document stated that there was a deficit of 7591 million dollars in the third quarter of this year, when it was 8266 million dollars in the same period last year. In the first nine months of this year, he accumulated 25,799 million dollars. This year's devaluation did not result in a significant reduction in the current red account. In the details of this imbalance, it was stated that 792 million dollars were lost for goods, while for services, red was 2.122 million. In this last item, an imbalance for tourism is calculated. Another concept that produces an important red color in the current account is payment of interest on debt. This is calculated in investment income, which accumulates net reds of 4905 million.

Regarding financial accounts, the deficit was 7374 million dollars. The official report on central statistics also noted that the fall in international reserves in the third quarter of this year was 12,287 million dollars. This is explained by failed exchange intervention policies along with increased capital flight, bank deposits and payment of public sector debt that is not refinanced by creditors. The Central Bank's reserves this year only increased due to the entry of foreign currencies related to IMF emergency loans and exchanges with China.


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