Colombia’s external debt reaches $90B

(Photo: El Pais)

Colombia’s central bank announced on Monday that as of October last year the nation’s external debt has reached $90.4 billion, or 24% of the country’s Gross Domestic Product (GDP).

Colombia’s GDP was estimated at nearly 370 billion dollars in 2012.

According to the report, the public sector holds $51.3 billion of the external debt, while the private sector holds 39.1 billion dollars.

Colombia’s external debt grew 10.3 billion dollars in October 2013 when compared to the same month in 2012, where the country’s foreign obligation sat at $80.2 billion.

This represents an all time high for Colombia’s foreign debt.



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