Private Sector External Debt Report as of June 30, 2022
As of June 30, 2022, the private sector external debt totaled USD83,358 million, recording a quarterly rise of USD2,712 million. This increase in the second quarter was driven by a USD3,923 million rise in commercial debt (mainly debt from imports of goods), whereas net payments of financial debt amounted to USD1,211 million.
As of June 30, 2022, the private sector external debt totaled USD83,358 million, recording a quarterly rise of USD2,712 million. This increase in the second quarter was driven by a USD3,923 million rise in commercial debt (mainly debt from imports of goods), whereas net payments of financial debt amounted to USD1,211 million.
The commercial external debt from the private sector totaled USD43,589 million as of June 30, 2022, with a rise of USD3,923 million over the quarter, and USD5,104 million against June 30, 2021. The external debt for exports of goods totaled USD5,782 million as of June 30, 2022, up USD298 million against the previous quarter, and down USD1,831 million vis-à-vis the same period in 2021.
In turn, the external debt for imports of goods totaled USD28,202 million as of June 30, 2022, the highest value recorded since the beginning of the series, with an increase of USD3,485 million against the end of the previous quarter, and of USD5,420 million in y.o.y. terms. Such increased debt may be explained by the adjustments to the foreign trade and exchange regulations on payments of imports effective as from December 2021.
The external debt for services reached USD9,605 million as of June 30, 2022, climbing USD140 million against the previous quarter, and increasing USD1,516 million y.o.y.
The financial external debt from the private sector totaled USD39,768 million as of June 30, 2022, with net payments of USD1,211 million over the quarter, and USD2,664 million against June 30, 2021. The downward trend of the quarter was mainly explained by financial loans (USD720 million) and debt securities (USD 356 million).
A sovereign debt restructuring process in foreign currency was successfully carried out by the National State. In symphony with this, as from September 16, 2020, Communication “A” 7106 and then Communications “A” 7230, “A” 7422, and “A” 7466 set out guidelines for private sector companies to refinance their foreign financial debts and/or local debt securities in foreign currency, so that they could meet the new requirements, thus ensuring the smooth functioning of the forex market. Thus, debt renegotiations of around 14 companies in the second quarter of 2022 resulted in lower net purchases in the forex market—around USD890 million less compared to the amounts expected to be paid on the original maturities over that period. Net payments amounted to around USD3,500 million from the date on which the original regulation became effective to the end of June 2022.
To access all editions, click here
October 27, 2022
