miércoles, 3 de septiembre de 2014

All in favor of borrowing abroad...


Mexico’s net foreign debt rose US$22.3 billion in the first half of 2014. The 56.3% increase over the same period of 2013 was thanks to the enormous jump in net indebtedness that occurred in the second quarter. In the second quarter of this year, Mexico borrowed abroad (net) US$20.5 billion, a sharp contrast to the (net) repayment of US$4.5 billion in the second quarter of 2013.

Public sector borrowing drove the jump in foreign debt. The net public sector foreign debt crept up US$0.1 billion in the first half of 2013. In the first half of 2014, it soared US$12.6 billion. Borrowing by the non-banking public sector drove the jump. Development banks’ net borrowing was imperceptible. Public sector companies took on US$12.5 billion in the first six months of 2014; in the first six months of 2013, their net borrowing inched up US$0.7 billion.

The private sector continued to borrow abroad in the first six months of this year but at a slower pace: the US$9.8 billion net increase was 31.0% less than in the first half of 2013. Companies and banks’ net foreign debt in the first half of 2014 rose, respectively, by US$5.6 billion (30.0% more than in the first six months of 2013) and US$4.2 billion (57.6% less). 

No hay comentarios:

Publicar un comentario