Ecuadorian government closed 2020 with more than USD 63 billion of public debt

The largest amount of total debt corresponds to loans from multilateral organizations such as the IMF, the World Bank, the Inter-American Development Bank and the CAF.

The government of President Lenín Moreno closed 2020 with a public debt of USD 63.163.47, which represents 65.33% of the Gross Domestic Product (GDP), according to the latest report published by the Ministry of Finance, this Wednesday, January 20.

The report details that indebtedness grew 12 points in relation to the amount in 2019, in which the debt reached USD 57.316 million; that is, 53.4% ​​of the GDP, reaching a record figure in indebtedness by the State.

The largest amount of the total debt corresponds to loans from multilateral organizations, for USD 19 billion, which represents 30% of all the assets that the country must meet.

Of the multilaterals, with which the government has the greatest commitment are: International Monetary Fund; World Bank; Inter-American Development Bank; and the Development Bank of Latin America CAF.

Another of the values ​​that stand out in the public debt is that of social security, a sector to which the government owes USD 381.065.84.

Currently, the debt represents 65% of the GDP, however, in the Public Finance Ordinance Law it was established that until 2031, the debt must be equivalent to 40%.

According to a report by the Public Expenditure Observatory based on data published by the Ministry of Finance, last year, the country borrowed at least USD 258.6 million every month.

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