Government Debt Monthly Bulletin, September 2016, IGCP

Page created: Monday, 26 September 2016 13:47GMT | Updated: Monday, 26 September 2016 13:57GMT

Press Release:  26 September 2016 - 5 Page(s)
Boletim Mensal  Dívida Pública  Government Debt  IGCP   Monthly Bulletin

Evolution of the State direct debt

As of August 31, 2016 the Portuguese State direct debt amounted to EUR 238,917 million, increasing 1.2% vis-à-vis the end of the previous month. The variation in the debt stock was mainly due to two Treasury Bills (BT) auctions, amounting to EUR 412 million (in the 3-months line BT 18NOV2016) and EUR 1,155 million (in the 11-months line BT 21JUL2017), as well as the issuance of OTRV August 2021 amounting to EUR 1,200 million.  The stock of PGB decreased, on the back of the bilateral buybacks of OT 4.35% OCT2017 (amounting to EUR 213 million). The outstanding of Saving certificates (CA) and Treasury certificates (CT) also maintained a positive contribution (increasing by EUR 14 million and EUR 325 million, respectively). The amount of CEDIC outstanding increased by EUR 414 million. On the other hand the stock of accounts payable of cash-collateral related with financial derivatives received by the Portuguese Republic, decreased EUR 360 million. Exchange rate fluctuations decreased the debt outstanding by EUR 23 million. The debt after cross-currency hedges stood at EUR 236,986 million, reflecting the favourable exchange rate effects of financial derivatives (amounting to EUR 1,931 million). Compared with the previous month, the debt after cross-currency hedges increased 1.3%.