Foreign demand for Colombian local government debt rose in September: BNP Paribas

According to an analysis by BN Paribas, foreign appetite for Colombia’s public debt increased during the month, with an increase in securities reaching $ 21,400 million. Non-residents now have 24.2% of Colombia’s public debt or 40.2% of the country’s international reserves. In addition, public debt securities of commercial banks fell 1.6% compared to August 2020 and reached $ 12.6 billion. Pension funds and the public sector reduced their holdings of securities during the last month by -0.2% and 1.0%, respectively. Total debt remained unchanged in September and reached 54.5% of GDP, an increase of 10.7 pps since March 2020. Colombia’s domestic public debt increased to $ 88.5 billion on average in September, an increase of 1.3% month-on-month and 7.9% year-on-year. Debt denominated in hard currencies now stands at 20.5% of GDP.

Source: La República