Colombian external debt continues to fall: in September it reached 47.9% of GDP

In September, Colombia’s external debt completed the fourth consecutive month below 50% of the Gross Domestic Product, the Bank of the Republic revealed this Tuesday, December 10, in its monthly bulletin, which presents data on the balance and flows of the obligations. external of the country by sectors, contracting terms and by financing modality.

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According to this report, as of September 2024, The country’s total external debt reached 47.9% of the Gross Domestic Product (GDP).

In real terms, Colombia’s external obligations, both public and private, totaled 197,361 million dollars in September.

For its part, The public external debt reached 27.2% of GDP with a total of 112,048 million dollars.

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Meanwhile, private external debt represented 20.7% of $85,312 million in September 2024.

The immediately previous month, in August of this year, Colombia’s public and private external debt had reached 48.5%. Since May, the country’s obligations abroad have been below 50% of GDP.

According to the definition of World Bank and the International Monetary Fund, gross external debt is understood to be the amountat a given time, of the contractual liabilities disbursed and pending repayment that the residents of a country assume towards non-residents, with the commitment to repay the capital, with or without interest, or to pay the interest, with or without reimbursement of capital.

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The external debt statistics includes financing obtained from non-residents mainly in the form of loans, supplier credits, bonds, and does not include short-term liabilities for portfolio investments in Colombia.

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