In his most recent report on foreign debt of Colombia, he Bank of the Republic reported that for the month of November 2022, the figure was at 52.2% of GDP.
(See: Inflation would not be affecting the consumption of ‘snacks’).
While the total amount of the private external debt was US$78.822 million, which was equivalent to 23.1% as a proportion of GDP, the public debt reached US$101,511 million and represented 29.7% as a proportion of Colombia’s GDP.
Thus, between January and November 2022, the total external debt stood at US$1,934,854 million.
(See: Colombia, the country with the highest inflation in Latin America during 2022).
‘Don’t forget the TES’
Against this background, the National government called on investors not to forget the public debt titles issued by the General Treasury of the Nation (TES).
The Director of Public Credit, José Roberto Acosta, who participated in the 25th edition of the Treasury Congress in Cartagena, pointed out that foreign investors continue to gain importance in the national market even above the Pension Fund Administrators (AFP).
(See: Producer prices started 2023 with lower growth).
“When we see the composition between external debt and local debt, generally the percentage is 35% external debt and 65% local debt. If in this local debt we take into account that foreigners weigh more than a quarter, more than half of Colombian financing depends on foreign savings. The great challenge is to increase our domestic savings rates to depend less on foreign debt“, said.
He added that foreigners keep a good portion of the TES, for which he called on the AFPs to “Do not forget about the TES, it is essential that they eventually recover that weight that they had a few years ago or more than five years ago within their portfolios with public debt”.
(See: Unemployment in Colombia: the panorama of 2022 and what is coming for 2023).
The reminder by the Government is given after the AFPs have expressed their concerns about the pension reform.
PORTFOLIO AND TIME – ECONOMY AND BUSINESS
