The external debt of the private sector totaled USD 79,259 million as of 31.03.21, registering a quarterly increase, for the first time after 6 consecutive quarters of retraction, this time by USD 1,573 million. This increase was explained entirely by the rise in commercial debt (increase of USD 1,861 million), as financial debt continued with net cancellations, with USD 288 million in the first quarter.
In a context of greater dynamism of foreign sales, the external debt for exports of goods totaled USD 6,232 million as of 31.03.21, showing an increase of USD 817 million compared to the previous quarter, basically explained by the “Manufacture of food products” sector, with an increase in the debt of exports of goods of USD 703 million.
In the context of the recovery of imports of goods after the impact on trade in 2020 due to the COVID-19 pandemic, the external debt for this concept totaled USD 22,362 million at the end of the first quarter of 2021, showing an increase of USD 787 million compared to the end of the previous quarter.
External debt for services totaled USD 8,151 million as of 03/31/21, showing an increase of USD 256 million compared to the end of the previous quarter (USD 189 million explained by debt with related and USD 67 million to unrelated).
The external financial debt of the private sector totaled USD 42,515 million as of 03/31/21, with net cancellations of USD 288 million in the quarter, mainly explained by the fall in deposits of non-residents in local financial institutions for USD 274 million, followed by the net cancellation of financial loans for USD 183 million, while net placements of debt securities for USD 161 million were registered.
As of 09.16.20, through Communication “A” 7106, in line with the efforts made by the National Government and after having successfully completed the process of restructuring the sovereign debt in foreign currency, the BCRA established the guidelines under which private sector companies could initiate a process of refinancing their financial debts abroad and/or local debt securities denominated in foreign currency. that would allow it to accommodate its maturity profile to the guidelines required for the normal functioning of the foreign exchange market. In this context, the renegotiations registered during the first quarter of 2021 of some 19 companies had an impact on lower net purchases in the foreign exchange market of about USD 413 million compared to the original maturities for that same period.
