The private sector external debt totaled USD87,405 million as of December 31, 2022, recording a quarterly fall of USD5,026 million, which can be explained by a decrease of both commercial and financial debt. The external debt rose by USD10,635 million compared to the same quarter of 2021, which was explained by a rise of USD12,735 million in commercial debt, and a drop of USD2,100 million in financial debt.
The private sector commercial external debt totaled USD49,150 million as of December 31, 2022, recording a quarterly fall of USD4,031 million.
The external debt for exports of goods totaled USD7,418 million as of December 31, 2022, down USD3,599 million against the previous quarter and up USD2,350 million against the same period in 2021. The quarterly fall is partly explained by the repayment of commercial advances and of pre-financing granted by foreign financial institutions during the third quarter within the framework of the Export Increase Program (Executive Order 576/22). However, this fall was shaded by the second edition of the Export Increase Program (Executive Order 787/22) launched by the end of November.
The external debt for imports of goods amounted to USD30,942 million as of December 31, 2022, with a drop of USD824 million over the quarter, and an increase of USD8,604 million y.o.y.
The external debt for services reached USD10,790 million as of December 31, 2022—the highest value recorded since the beginning of the series—climbing USD392 million against the previous quarter, and increasing USD1,781 million y.o.y.
A sovereign debt restructuring process in foreign currency was successfully carried out by the National State. In symphony with this, as from September 16, 2020, Communication “A” 7106 and then Communications “A” 7230, “A” 7422, “A” 7466, and “A” 7621 set out guidelines for private sector companies to refinance their foreign financial debts and/or local debt securities in foreign currency, so that they could meet the new requirements, thus ensuring the smooth functioning of the forex market. Within this context and based on the renegotiation of debt during 2022, the net payments made through the forex market represented 39% of the original maturities, resulting in fewer net purchases for around USD2,300 million. Net payments amounted to around USD4,800 million from the date on which the original regulation became effective to the end of December 2022.
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Jueves 27 de abril de 2023