The balance of the state’s direct debt fell 3% in January compared to December, to €278,531 million, the IGCP – Treasury and Public Debt Management Agency announced on Monday.
“At January 31, 2023, the balance of the direct debt of the State amounted to 278,531 million [de euros]a decrease of 3.0% compared to December 2022″says the institution in the monthly bulletin released this Monday.
The IGCP explains that this variation is mainly due to the decrease of the balance of the Special Short-Term Debt Certificates (CEDIC) by EUR 12,965 million.
According to the bulletin, the balance of Treasury Bills (BT) fell by EUR 697 million and that of Treasury Certificates (CT) by EUR 631 million.
However, these reductions were partially offset by the EUR 3,000 million increase in the Treasury Bond (OT) balance.
“In addition, the ‘stock’ of debt has been reduced by EUR 44 million, due to the effect resulting from exchange rate fluctuations of debt instruments in non-Euro currencies, valued at the exchange rate of the last day of January”indicates.
The agency further explains that, “including the favorable exchange rate effect of hedging derivatives, corresponding to the nominal value [indica quanto dinheiro é controlado pela posição de um determinado instrumento financeiro] of the capital cover swaps, which amounted to EUR 583 million in January, the total value of the debt after currency hedging amounted to EUR 277,948 million, a decrease of 2.9% compared to the previous month”.
Source: DN
