According to official sources, Argentina’s gross foreign debt reached US$275.093 billion in the first quarter of 2023, a decrease of US$1.38 billion compared to the previous quarter.
The National Institute of Statistics and Censuses (Indec) reported that the reduction was primarily driven by a US$2.052 billion decrease in the debt of the general government sector.
During the same period, the Central Bank’s debt increased by US$146 million, while other financial entities saw a US$36 million increase and companies and households added $498 million to their debt.
When considering debt securities at nominal value, the total gross external debt stock increased by US$738 million compared to the same period in 2022.
However, when measured at market value, Argentina’s total gross external debt stock amounted to US$225.53 billion at the end of Q1, reflecting a US$300 million decrease compared to Q4 2022.
In a year-on-year comparison, the market value of the debt decreased by $2.826 billion from Q1 2022.
Notably, the government debt consists of US$82.801 billion in loans and US$75.837 billion in debt securities at face value, with a market value of US$27.694 billion, highlighting the low market valuation of Argentine sovereign bonds.
Furthermore, Argentina’s debt with the International Monetary Fund (IMF), resulting from a refinancing agreement signed in March 2022, amounted to US$46.041 billion at the end of Q1, reflecting a US$334 million increase compared to the end of 2022.
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