The Argentine public debt reached
US$ 392,000 million
in 2022 , an amount equivalent to 85% of the gross product.
This represents
US$8,604 per capita
and is expected to continue growing to reach
US$8,878 per person in 2025
, according to a report on public debt in the world prepared by the Janus Henderson Group.
"In Argentina,
public debt as a percentage of GDP is especially high
. It reached 85% in 2022, although it is expected to drop to 75% by 2025," the report said.
The country's sovereign debt rose another 20% last year, when it reached $392 billion.
In 1995 it amounted to US$ 87,000 million and was equivalent to 31% of the GDP.
"The pre-pandemic data indicates that in 2019 the sovereign debt per person in Argentina was
7,219 dollars,
the total debt
323,000 million
and the percentage with respect to GDP reached a peak of more than 90%. The projection towards 2025 estimates that the debt will rise up to
US$ 411,000 million,
which will represent 75% in relation to GDP and
8,878 dollars
per capita".
Globally, global public debt increased by 7.6% in 2022, with the United States responsible for more than half of the increase.
In 2025, governments around the world will have to spend
$2.80 trillion
in interest, more than double the amount in 2022.
Global national debts will continue to rise to reach
$77.2 trillion in 2025.
"Governments around the world face
a painful reckoning
as record debt and high interest rates mean borrowing costs will double over the next three years. This will put significant pressure on taxpayers and services," explains Janus Henderson Group.
regional debt
In the region,
Brazil is the third most indebted country in emerging markets
and the eleventh in the world.
Brazil's general public debt increased by 4.7% in 2022 to $1.40 trillion, a slower increase than the global one, which is equivalent to
$6,542 per capita
.
Emerging Market countries increased their debt by 46% since 2019, second only to the United States.
In Colombia, sovereign debt increased by 11.8% year-on-year in 2022, reaching
US$199 billion
.
The country's debt-to-GDP ratio is 68%, higher than its emerging market peers.
Chile now owes
US$116,000 million
, which represents a year-on-year increase of 13% and accumulates an increase of 80% since 2019. Measured per person, Chile's sovereign debt amounts to
US$5,919,
while in Colombia it is
US$ 3,830
and in Mexico it reaches
US$ 5,769.
"Since the global financial crisis, governments have borrowed with astonishing freedom. Near-zero interest rates and huge quantitative easing programs by central banks have expanded government debt, but bondholders are now demanding higher yields for offset inflation and rising risks, and this is creating
a significant and increasing burden for taxpayers.
The transition to more normal financial conditions is proving to be a painful process," said Janus Henderson Global Head of Fixed Income, Jim Cielinski.
Looking ahead, the outlook is not encouraging.
In 2025, governments around the world will have to spend $2.80 trillion in interest, more than double the amount in 2022.
This will mean an additional 1.2% of GDP, diverting resources from other forms of public spending or requiring tax hikes.
The United States is especially exposed to this measure.
Continued annual deficits mean that debts will continue to rise to reach
$77.2 trillion in 2025.
Thus, the global debt burden is expected to rise from the current 78% of GDP to 79% of GDP in 2025.
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