Overview

• Total external debt rose by $23.783 billion (8.5%) from the prior quarter, reaching the highest level in INDEC’s series since 1994.
• The government accounted for $18.480 billion of the quarterly increase following disbursements tied to a new IMF arrangement.
• Obligations to the IMF reached $55.171 billion, up $13.994 billion in the quarter, while total debt to multilateral institutions climbed to $92.964 billion.
• Other sectors also increased borrowing in Q2: nonfinancial firms and households by $2.435 billion, the central bank by $2.380 billion, and deposit-taking companies by $0.559 billion.
• Measured at market value, the stock stood at $284.905 billion, highlighting a valuation gap with nominal totals; since Javier Milei took office, nominal external debt has risen by $19.092 billion.