Public debt: in June it increased by 4,000 million dollars and reached a new record

The national gross public debt continues to grow. In pesos and foreign currencies, increased in June by the equivalent of US $ 4,000 million.

Thus, as of June 30, it recorded a new record: it added the equivalent of $ 378.518 million, of which $ 376.045 million is in a normal payment situation, according to data from the Ministry of Finance.

“Compared to the previous month, debt in a normal payment situation increased by the equivalent of $ 4,003 million, with a monthly growth of 1.08%. The change is explained by the increase in foreign currency debt by $ 663 million and by the increase in local currency debt by a dollar equivalent of $ 3.340 million, ”the Finance Ministry report reads.

The increase in foreign currency debt largely corresponds to the disbursement of 3,000 million Special Drawing Rights (SDRs) by the IMF – of which 2,014 million SDRs were used to pay maturities to the same international organization .

Meanwhile, the pesos debt has increased mainly due to “Temporary advances” from the Central Bank. In June, the Central Bank’s net placements increased by $ 377 billion.

“73% of the gross debt in a normal payment situation corresponds to National Treasury Bonds and Letters, 20% to bonds with Official External Creditors, 6% corresponds to Temporary Advances and the remaining 1% to other instruments”, he clarifies .

If the comparison extends to December 2021, in the first 6 months of this year, public debt increased by the equivalent of $ 15,285 million due to the extension of the debt to the IMFgreater transitional advances by the Central Bank and the adjustment for inflation of the debt in pesos + CER.

Due to the extraordinary disbursements for the payment of maturities with the same financial institution, the debt with the IMF went from 40,952 million dollars in December 2021 to 45,421 million dollars at the end of June.

Meanwhile, the debt in pesos + CER has gone from the equivalent of 47,437 million dollars to 54,891 million dollars.

“Over the past 12 months, the stock of gross debt in a normal payment situation has increased by the equivalent of $ 35,101 million, due to an increase in foreign currency debt of $ 3,558 million and the increase in local currency debt for an amount of US $ 31,543 million“. says the report from the finance secretary.

If the comparison is extended at the beginning of the current administration, public debt has increased by the equivalent of $ 65,219 million (from $ 313,299 million at the end of November 2019 to $ 378,518 million at the end of June 2022).

Part of this increase is explained by the pesos + CER bonds, which went from the equivalent of $ 21,914 million to $ 54,891 million.

For its part, $ 334 million in interest was paid in June, 82 percent of which in national currency, according to the Congressional Budget Office.

The national public debt does not include that of the Provinces or that of the Central Bank.