{"id":152690,"date":"2021-01-27T06:20:15","date_gmt":"2021-01-27T10:20:15","guid":{"rendered":"https:\/\/dr1.com\/wordpress\/?p=152690"},"modified":"2021-01-27T07:51:18","modified_gmt":"2021-01-27T11:51:18","slug":"debt-grew-us8-74-billion-by-the-end-of-2020","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2021\/01\/27\/debt-grew-us8-74-billion-by-the-end-of-2020\/","title":{"rendered":"Debt grew US$8.74 billion by the end of 2020"},"content":{"rendered":"\n
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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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Meanwhile, domestic debt went from US$12.56 billion to US$13.98 billion at the end of 2020.<\/p>\n\n\n\n

The NFPS debt includes only the commitments assumed by the central government, and does not consider the indebtedness assumed by the Central Bank.<\/p>\n\n\n\n

As of September 2020, the country’s total debt stood at US$51.95 billion, an amount equivalent to 66% of the Gross Domestic Product (GDP).<\/p>\n\n\n\n

The increase in the debt to GDP ratio, which at the close of 2019 was 50.5%, is attributed both to the taking on more debt and to the decline in the size of the Dominican economy, both caused by the Covid-19 pandemic.<\/p>\n\n\n\n

According to preliminary data managed by the Central Bank of the Dominican Republic, the Dominican GDP has shrunk by 6.7%. The government expects the economy to recover. The forecast is for 6% growth of the GDP by the end of this year.<\/p>\n\n\n\n

Read more in Spanish:
Diario Libre <\/a><\/p>\n\n\n\n

26 January 2021<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … <\/p>\n

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