Relevamiento de Títulos de Deuda y Otros Pasivos Externos

These statistics are based on the information obtained in the Survey of Debt Securities and Other External Liabilities provided by Communication A3602 and complementary ones.

Foreign obligations as of June 30, 2011 declared by the private sector totaled US$
64,661 million. Of this total, US$ 61,211 million (95% of the total) corresponded to the non-financial
private sector (NFPS) and US$ 3,451 million to the private financial sector (SPF). In both sectors—private
financial and private non-financial—there were quarterly increases in external liabilities with
net variations of US$ 3,061 million and US$ 558 million, respectively. In terms of gross domestic product
at current prices, private external debt represented 16.1% and registered a fall of
1.3 percentage points in the last year.
While commercial NFPS debt grew by around 30% year-on-year,
financial debt remained at levels close to US$26.5 billion between the second quarter of
2010 and 2011.
Liabilities for the financing of imports of goods continued in line with the increases
observed in the previous five quarters, registering a quarterly variation of US$ 2,370 million and
reaching a debt stock of US$ 23,370 million. This increase reflected, in part, the effects of the
seasonality of imports from the electricity and oil sectors, which together accounted for
80% of the variation recorded in the quarter. As for the gross amount of new debt from imports, the first 10 companies concentrated 41% of the total flows (basically companies in the automotive and electricity sector), while the first 100 companies concentrated 71% of it.
Debt for advances and pre-financing of exports of goods increased by US$ 527 million during the second quarter of 2011, reaching a stock of US$ 7,063 million. The increase was mainly due to the increase in liabilities of exporters of oilseeds, oils and cereals, which grew by 10% in the quarter and registered a year-on-year variation of around 25%.
The NFPS declared that it had received fresh funds from abroad for US$ 487 million, mainly in the
form of financial loans (86%) that were arranged for an average life of 3.2 years and an average interest rate of
7.57%. Likewise, the trend observed in recent quarters of
decrease in the number of companies receiving these funds continued. Among those who received fresh funds
from abroad, the electricity sector stood out, accounting for about 33% of the total, followed by
the oil and communications sectors.
The SPF took fresh funds from abroad for US$ 300 million through the issuance of debt securities, with an average life of 5.8 years and at a nominal annual rate in US dollars of 8.75%.
The average maturity of private external debt as of 30.06.11 stood at 1.6 years, with an average
maturity for NFPS external debt of 1.5 years (a variation of 0.30 compared to the previous year
) and 3.4 years in the case of financial sector debt.