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Colombia’s external debt reached $71 billion in August, equivalent to 21% of the GDP.
The external debt of the South American nation now stands at $71.875 billion, which represents an increase of $10.6 billion compared to August 2010, according to a report from Colombia’s central bank. In August 2010, the debt amounted to $61.28. This year’s is a 17% increase on last year’s.
In August 2011 $41.9 billion of the country’s debt corresponded to the public sector and $29.9 billion corresponded to the private sector, according to the report.
Two months ago, Colombian Congress approved $87 billion of the 2012 budget of which $29.4 billion would go towards servicing the country’s debt. This amount represents 23% of the budget.
