The Non-Financial Public Sector (NFPS) debt stood at US$44.68 billion at the close of December 2020, reports Diario Libre. The amount is an increase of US$8.74 billion over the US$35.94 billion at the end of 2019.
This is the largest increase in debt recorded in the last five decades and reflects the Medina and Abinader administrations actions to curb the spread of Covid-19 and reactivate the economy.
Of the new debt, most was contracted through sovereign bond issues that totaled US$5.65 billion by the end of last year. The accumulated amount of commitments with external debt holders was US$22.16 billion, reports Diario Libre.
The Dominican government also resorted to loans from multilateral organizations, which increased from US$5.04 billion in 2019 to US$6.58 billion at the close of last year.
Meanwhile, domestic debt went from US$12.56 billion to US$13.98...