A report in Diario Libre today, Tuesday 26 April 2016 points out that despite the Medina administration benefiting from US$1,352.8 million in savings on its petrol bill due to the fall in international oil prices, the country took on an additional US$1.597 million in debt last year. In August 2013, Texas crude was at US$10.6.48 a barrel, which declined to US$39.74 in April 2016. Reporter Edwin Ruiz says that despite the considerable savings, the Medina administration went on taking on foreign debt. As of February 2016, the public sector non-financial debt was at US$24.79 billion, of which 68% is owed to foreign creditors. The total is 36% of the GDP, which is 1.7% less than in 2013. But in absolute values, the debt has increased US$1.597 million, or 6.9%.
http://www.diariolibre.com/economia/en-factura-petrolera-el-pais-se-ahorra-us-1-352-8-mm-en-2015-YF3465526
