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Foreign debt grows US$930 million in May

SD. The foreign debt of the non-financial public sector added another US$930 million in the month of May, which, compared to the total in 2013, which was US$14.919 billion, represents an increase of 6.2%

This increase corresponds almost completely to the emission of global bonds on 24 April 2014. This placement was for 30 years, for the amount of US$1.25 billion at 7.45%.

According to Public Credit, as of 31 May, this operation is shown in the total of the foreign public debt of the Central Government which reached US$15.849 billion. At least in absolute value, this is the highest amount in the history of the country that is owed to foreign creditors.

On 12 July, Public Credit, of the Ministry of Hacienda, completed the placement of another US$250 million in global bonds. This was also a 30 years issue. The interest was set at 6.5% and the emission was done with a premium as it was sold at a price higher than its face value, which was 107.566. These emissions are contemplated as financial sources in the 2014 Budget for a total amount of US$1.5 billion.

Between December 2013 and May 2014, the internal debt was lowered by an amount equal to US$243.66 million, which is a 2.9% decrease. However as a proportion of the GDP, the public debt of the government continued at 38.3%.

Source: DiarioLibre

Category: DR News |

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Last updated October 24, 2016 at 6:05 PM
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