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Domestic debt rose to $ 3,537.1 million in May, after the correction of figures
Posted On 04 Jul 2017
Ecuadornews:
Ecuador’s domestic debt increased from $ 3,094.4 million in April to $ 6,631.5 million in May 2017. This is a difference of $ 3,537.1 million in a single month. However, during this period there was a significant amortization (payment of capital), so the total balance only increased by $ 1 billion, from $ 13,934.6 million to $ 14,997.1 million. This can be seen in the latest debt report published over the weekend by the Ministry of Finance.
The ministry would have made a series of corrections to the domestic debt records of previous months, according to Fausto Ortiz, a former finance minister.
Meanwhile, May’s external debt reached $ 26,896.1 million, slightly lower than in April of this year ($ 26,908.2 million). The consolidated debt (which does not take into account the domestic debt with the public sector) reached $ 27,871 million (27.7% of the GDP). Thus, the aggregate debt (total domestic and external debt) amounts to $ 41,893, million, i.e., 41.6%. (I)
