For the First Time, More Than Half of Spanish Public Debt is in Foreign Hands

For the First Time, More Than Half of Spanish Public Debt is in Foreign Hands
Debt issuance falls 41% thanks to the government’s adjustment measures
El Mundo: Más de la mitad de la deuda española está en manos extranjeras por primera vez
Juan Emilio Maíllo reporting from Madrid May 25, 2011

The majority of Spanish public debt is in foreign hands for the first time ever. Those who are not residents of the country possessed 291 billion euros of Spanish debt at the end of 2010, 70 billion more than the year before and 53.4% of the total.

In 2009, the percentage was 46.5%, according to the data of the Bank of Spain, which published its annual public debt report on Wednesday; the report did not detail which countries own this debt.

The net issuance of Spanish public debt was €64.147 billion euros in 2010, which would be a descent of 41% from the year before, according to Javier Maycas, chief of the national bank’s Monetary Policy Implementation division.

The national bank attributed the fall in debt issuance to the adjustment measures the government had already put in motion.

In any case, the total state debt in circulation increased 13.9% to roughly €461,996,000,000.

The net collection of funds through T-bills ascended to €3.579 billion while the amount raised by bonds and obligations were €26.737 billion and €33.831 billion, respectively.

For its part, the secondary debt market had a slight 0.1% fall in 2010 and held at €18.6 billion.

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