Direct state debt decreased 0.88% in Sept. to €270.5 billion

  • Lusa
  • 26 October 2021

According to IGCP, the state's direct debt decreased by 0.88% in September compared to August, to a total of €270.498 billion.

The state’s direct debt decreased by 0.88% in September compared to August, to €270.498 billion, according to figures released Tuesday by the IGCP – Treasury and Public Debt Management Agency.

“On 30 September 2021, the balance of direct state debt stood at €270.498 billion, down 0.88% compared to August 2021. This variation was essentially due to the reduction in the BT [Treasury Bills] balance, explained by the repayment of BT 17SEP2021 in the amount of 2.594 billion,” reads the IGCP Monthly Bulletin, released today.

“In turn, the balance of OT [Treasury Bonds] remained unchanged,” it adds.

According to IGCP, the balance of Special Certificates of Short-term Debt (CEDIC) increased by €35 million and the balances of Saving Certificates (CA) and Treasury Certificates (TC) recorded increases of €18 million and €57 million, respectively.

The counterpart of margin accounts received under the scope of financial derivatives registered an increase of €14 million.

“In addition, the debt stock increased by €68 million due to the effect of exchange rate fluctuations on the majority of debt instruments denominated in non-euro currencies valued at the exchange rate of the last day of August.”

The institute also said that, “incorporating the favourable exchange rate effect of derivative hedging, corresponding to the notional value of capital hedge swaps, which rose to €448 million in September, the total value of debt after currency hedging stood at €270.050 billion, down 0.9% on the previous month.”