Mexico makes historical payment of foreign debt of $4 billion dollars

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The reinstatement is the highest in the last 40 years, said Jesús Ramírez Cuellar, general coordinator of Social Communication of the Government of Mexico.

In the first quarter of 2021, Mexico made a payment of 4 thousand 39 million dollars to the payment of the country’s foreign debt about 80 billion pesos, which represents the highest repayment in the last 40 years, said Jesús Ramírez Cuellar, general coordinator of Social Communication of the Government of Mexico.

The official indicated that the payment is a sign of the economic recovery and it was thanks to the fact that the country has healthy public finances.

As of April 2021, Mexico’s gross external debt reached $232,631.7 million

The Ministry of Finance and Public Credit (SHCP) explained last April that the increase in indebtedness as a proportion of the Gross Domestic Product (GDP) is mainly due to the average increase in the exchange rate, despite the fact that the current administration has not resorted to contracting more foreign debt.

He said that to stabilize the accelerated increase in debt between 2012 and 2018, the Government of Mexico established a policy of positive primary balance sheets.

With regard to the external debt of the public sector, the total balance increased between 2012 and 2018 by 2.4 trillion pesos compared to 457 billion pesos between 2018 and 2020.

Source: milenio.com

Mexico Daily Post