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.

Executive Summary

Foreign obligations declared by the private sector totaled US$ 65,937 million as of September 30, 2016. Of this total, US$ 62,272 million corresponded to external debts of the non-financial private sector (NFPS) and US$ 3,664 million to commitments of the private financial sector (SPF).

Continuing with the evolution observed in recent quarters, the external debt of the private sector showed a fall of US$ 418 million during the third quarter of 2016, explained by the net cancellation of the debt of the non-financial private sector for US$ 832 million, partially offset by the increase registered in the financial sector for US$ 414 million.

In the third quarter of 2016, during which the Central Bank continued to make progress in the relaxation of foreign exchange rules, net cancellations were observed in all types of commercial debt.

The external debt for advances and pre-financing of exports of goods received from abroad by the NFPS reached a stock of US$ 6,453 million as of 30.09.16, experiencing a fall of US$ 794 million (11%) compared to the end of the previous quarter, mainly due to seasonal factors, given that the second quarter is usually characterized by an increase in net income from advances and pre-financing in the “Oilseeds and cereals” sector.

External liabilities for the financing of imports of NFPS goods were reduced by US$ 1,400 million in the quarter, mainly explained by the performance of companies in the “Energy” sector (US$ 486 million, implying a drop of 29%), the “Machinery and equipment” sector (US$ 409 million) and the “Chemical, rubber and plastic industry” (US$ 205 million). The year-on-year drop in debt for the concept was US$ 4,173 million.

The foreign obligations declared by the NFPS for services totaled a stock of US$ 8,396 million as of 09/30/16, registering a fall in the quarter of US$ 626 million (7%), accumulating a year-on-year decrease of US$ 2,033 million.

The scenario for Argentina continued to be favorable in terms of the conditions for access to international credit and the cost of external financing, both for the National Government and for local governments and the private sector. Under these conditions, there was an increase in NFPS financial debt of US$ 1,988 million in the quarter, as a result of net placements of debt securities worth US$ 1,728 million, followed by the net income of financial loans of US$ 376 million.

The fresh funds granted to the NFPS in the third quarter of 2016 totaled US$ 3,154 million, the highest figure in the series surveyed, raised at an average rate of around 6.7% nominal annual and an average life of 4.8 years.

The average life of the private sector’s external debt as of 30.09.16 stood at 2.24 years.