The gross public debt of the National Treasury has reached a new record in February 2025, amounting to 471.150 billion dollars, according to data from the Ministry of Finance. This represents an increase of 3.362 billion dollars compared to the previous month. Regarding the composition of the debt, 46% is denominated in pesos and 54% in foreign currency.
In recent months, the total debt has experienced remarkable growth. In December 2023, it stood at 370.673 billion dollars, rose to 381.273 billion in January 2024, and finally reached 471.150 billion in February 2025. Despite debt payments of 9.703 billion dollars, the issuance of new securities and the capitalization of interest have contributed to the increase in the total stock.
The increase in debt is mainly attributed to an increase in liabilities in pesos, which amounted to approximately 3.251 billion dollars, while debt in foreign currency grew by 109 million dollars. In the last twelve months, the gross debt in normal payment status has grown by 84.629 billion dollars, with a reduction in debt in foreign currency and a marked increase in debt in local currency.
The Government has assumed part of the liabilities of the Central Bank (BCRA), which amounted to 61.657 billion dollars until November 2023. Since then, 12.600 billion dollars in interest have been paid to the agency. Additionally, the Central Bank has a debt of 69.345 billion dollars in Non-Transferable Bills, and the debt with international organizations reaches 75.552 billion dollars, with 40.712 billion corresponding to the International Monetary Fund (IMF).
It is important to note that the Ministry of Finance's report does not include the consolidation of the total debt between the National Treasury and the Central Bank (BCRA). In summary, the gross public debt continues to increase, mainly driven by liabilities in pesos and interest payments to entities such as the IMF and the BCRA.
