Executive Summary
Foreign obligations declared by the private sector totaled US$ 66,750 million as of 31.03.15, corresponding to US$ 63,835 million to external debts of the non-financial private sector (NFPS) and US$ 2,914 million to commitments of the private financial sector (SPF).
Continuing with the trend observed in recent quarters, the external debt of the non-financial private sector registered a fall of 3% compared to the same quarter of the previous year.
Liabilities for the financing of imports of NFPS goods registered a year-on-year fall of 2%, reaching a stock of US$ 24,246 million as of 31.03.15.
The foreign obligations for NFPS services closed the first quarter of 2015 with a stock of US$ 9,620 million.
The external debt for advances and pre-financing of exports of NFPS goods reached a stock of US$ 6,173 million as of 31.03.15, of which almost US$ 3,300 million corresponded to the oilseeds, oils and cereals sector. This sector, in the context of falling price levels of the main crops and lower sales of corn and barley (green ROE), registered in the quarter a contraction of its advance collections and pre-financing of exports of goods from abroad of about US$ 1,200 million compared to the same quarter of the previous year. In this context, its debt for advances and pre-financing was reduced by about US$ 300 million compared to the same quarter of the previous year. The rest of the sectors practically maintained their exposure.
Within the framework of the financing of investments undertaken by companies in the oil sector since the end of 2013, these companies registered new financing for about US$ 680 million in the quarter (90% of the total fresh funds of the quarter), highlighting the placements of securities for about US$ 500 million.
As a result of the increase in commercial lines of credit and other documentary credits by US$ 240 million, the SPF’s foreign obligations totaled US$ 2,914 million as of 31.03.15.
The average life of the private sector’s external debt stood at 1.9 years, where the life of NFPS’ external liabilities was 1.8 years on average, while that of the financial sector ended the quarter in 3 years.
