The year started with a heavy load on public debt interest payments.
Thus, in January interest was paid for the equivalent of US$ 1,463 million, of which
77% was in foreign currency
.
Interest payments for the securities issued in the
2020 foreign currency
debt restructuring process for the equivalent of US$ 1,022 million were highlighted, according to the Congressional Budget Office (OPC).
In all of 2022, interest consumed the equivalent
of US$ 7,629 million.
On the other hand, in January loan amortizations
for US$ 2,948 million were
paid , including the payment to the IMF for the 2018 stand-by program for US$ 2,656 million (in SDR - Special Drawing Rights - 1,975 million).
In addition, disbursements for US$255 million were received, of which US$230 million came from the
China Development Bank
Corporation (CDBC) for the acquisition of equipment;
for works on the Belgrano Cargas railway (US$18 million) and for the construction project of the hydroelectric exploitation of the Santa Cruz River (Cepernic and Kirchner Dams) (US$212 million).
In turn, a non-transferable bill was placed with the Central Bank for a ten-year term for US$ 7,133 million, to refinance the capital and interest services of other similar bills held by the BCRA.
Based on these figures, after the record cancellation of interest on the public debt for the equivalent of US$ 19,442 million during 2019, under the previous Government, during 2020/2022 with the current Government, disbursements also for interest
added
up
to a total of US$ 21,775 million
, to which are added the US$ 1,463 million of January: a total of US$ 23,238 million.
Of this total, the IMF received US$4,374 million and the rest of the international financial organizations (such as the IDB, the World Bank, among others) another US$2,134 million.
Meanwhile, in relation to the end of November 2019, the beginning of the administration of the current Government,
the gross public debt went from US$ 313,299 million to US$ 395,779 million:
an increase of 26.3% equivalent to US$ 82,480 million.
These values, both capital and interest, do not take into account the indebtedness of the Provinces and the Central Bank.
From the Reports of the Congressional Budget Office, the following sequence in the payment of interest emerges:
During 2020,
interest disbursements reached an amount equivalent to
US$ 8,043 million
, of which 46% was made in foreign currency.
Payments of bonds and letters represented 71% of the total, being 26% in foreign currency.
The debt restructuring processes carried out during the year allowed a reduction in the weight of interest in foreign currency.
Regarding interest payments to multilateral organizations, they totaled US$1,994 million, of which 65% (US$1,306 million) corresponded to the loan with the IMF.
During 2021
interest cancellations totaled an amount equivalent to
US$ 6,103 million
, of which 36% was made in foreign currency.
Payments of bonds and letters represented 67% of the total, being
95% in local currency.
Interest payments to multilateral organizations totaled US$1,969 million, of which 68% (US$1,347 million) corresponded to IMF credit.
During 2022,
interest payments reached an amount equivalent to
US$ 7,629 million
, of which 53% was made in foreign currency.
Bond interest represented 60% of the total, being
69% in local currency.
Payments to multilateral organizations totaled US$2,545 million, of which 68% (US$1,721 million) corresponded to IMF loans.
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