Colombia's total external debt represents 50% of GDP

Colombia’s total external debt represents 50% of GDP

public and private debt it reached US$171,954 million at the end of January, with a growth of 10.69% compared to the same month of 2021, when it amounted to US$155,345 million, according to statistics from the Bank of the Republic.

(See: Transmission of Banrep rate hikes to credit has been rapid).

The figures of Colombia’s external obligations presented, between the first month of last year and the same month of the current one, an increase from 49.6% to 50.2% as a share of the gross domestic product, GDP, although compared to the end of 2021 there was a decrease since in December the figure represented 54.7% of the GDP with a lower total amount (US$171,339 million).

The public external debt in January closed at US$101,484 million, with an increase of 11.28% compared to the same month last year when the indicator was US$91,190 million.

In addition, last January, public sector loans represented 29.6% of GDP, compared to 29.1% a year ago.

(See: Tax collection was 53.7 billion in the first quarter of 2022).

But in December 2021, public debt represented 32.7% ofthe PIb.

For its part, the external debt of the private sector totaled US$70,470 million, 9.84% higher than that of January 2021 when it totaled US$64,155 million.

As of January this year the private foreign debt weighed 20.6% of GDP.

(See: Producer Price Index rose 3.79% in March).

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