According to the latest data from the Bank of the Republic, as of December 2022, the total external debt of the country reached 184,118 million dollarswhich represents 53.4 percent of the Gross Domestic Product (GDP).
The external debt had an increase of 2.06 percent compared to the data from last November (180,394 million dollars) and shot up 7.48 percent compared to the same period of the previous year (171,303 million dollars).
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from November to December 2022 increased 3,724 million dollars. This is the highest monthly increase recorded since August 2021.
In total, in 2022, the external debt increased by 12,815 million dollars.
How is the debt divided?
Of the total of 184,118 million dollars, most belongs to the public sector with 104,643 million dollars, which represents an increase of 2.91 percent compared to November.
The remaining 79,475 million dollars are private debt and grew 0.97 percent compared to November last year.
as a percentage of Gross Domestic Product (GDP)), the external debt represents 53.4 percent. Of this total, 30.4 percent is from the public sector and 23.1 percent is from private debt.
This is how the external debt has grown month by month
(Figures in millions of dollars)
– January 171,828
– February 172,771
– March 175,079
– April 174,258
– May 175,827
– June 175,970
– July 176,672
– August 177,869
– September 177,112
– October 177,933
– November 180,394
– December 184,118
What impact does the exchange rate have?
The dollar volatility It not only puts people and companies to account, but also affects Colombian public finances through foreign debt.
If the US currency increases, the country’s financial commitments in foreign currency increase; and if it falls, the position that Colombia has to pay in dollars is reduced.
If we measure the debt in Colombian pesos, Colombia owes more and more.
For example, with today’s dollar closing at an average price of 4,755.89 pesos, Colombia’s external debt is around 875.6 trillion pesos.