The external debt of the private sector totaled USD 80,237 million as of 30.06.21, registering a quarterly increase of USD 986 million. This increase was explained entirely by the rise in commercial debt (increase of USD 1,433 million), as financial debt continued with net cancellations, in this case for USD 447 million.
In a context of a sharp increase in foreign sales, explained both by the gradual recovery of the world economy from the health and economic crisis caused by the COVID-19 pandemic and high international prices of exported products, the external debt for exports of goods totaled USD 7,443 million as of 06/30/21. showing an increase of USD 1,369 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 1,158 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 imports of goods increased to reach USD 22,525 million at the end of the second quarter of 2021, with an increase of USD 132 million compared to the end of the previous quarter.
External debt for services registered net cancellations of USD 68 million compared to the previous quarter, reaching USD 8,128 million as of 06/30/21.
The external financial debt of the private sector stood at USD 42,141 million as of 06/30/21, with net cancellations of USD 447 million in the quarter, mainly explained by the net cancellation of financial loans for USD 608 million and debt securities for USD 290 million. Additionally, the other financial debt showed an increase of USD 450 million, explained entirely by the increase in deposits of non-residents in pesos in local financial institutions.
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 second quarter of 2021 of some 32 companies had an impact on lower net purchases in the foreign exchange market of about USD 900 million compared to the original maturities for that same period.
