Dominican Republic

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Risk Management


Financing Source Amount Total Debt Share ATM Average Time to Refix Share of Variable Debt Weighted Average Interest Rate
Total Public Debt 47,560 100% 11.8 10.8 12.1% 6.5%
Total Domestic Debt 14,438 30.4% 7.5 7.5 0.9% 9.5%
Commercial Banks 654 1.4% 2.7 2.2 19.6% 6.5%
Bonds 11,454 24.1% 9.0 9.0 0% 9.8%
Recap Bonds 2,330 4.9% 1.4 1.4 0% 9.1%
Total External Debt 33,121 69.6% 13.6 12.3 17% 5.2%
Commercial Banks 2 0% 0.3 -0.2 100% 5.4%
Bilaterals 2,023 4.3% 7.0 6.8 4.6% 3%
Bonds 24,630 51.8% 15.9 15.9 0% 6.2%
Multilaterals 6,460 13.6% 7.2 0.3 85.5% 1.9%
Suppliers 6 0% 0.5 0.5 0% 0%
Total Public Debt excluding Recap Bonds 45,229 95.1% 12.3 11.5 12.7% 6.4%

1Preliminary figures in millions (USD) as of August 31, 2021

The exchange risk refers to changes in the value of debt due to variations in the exchange rate of the peso against the different foreign currencies that make up the debt portfolio. This risk is measured through the proportion of debt denominated in foreign currency within the total portfolio.

Interest rate risk measures the risk of rising interest service due to the increase in the interest rates to which the debt portfolio is linked. To measure this risk we use three main indicators: 1. The proportion of debt at a variable rate within the total portfolio. 2. The proportion of debt that changes interest rates in a year. 3. Average time to refixing.

Refinancing risk refers to the risk of not obtaining the resources to repay debt maturities, or that they are obtained at very high rates given a high concentration of maturities in the short term or in a specific period. To measure this risk we use several indicators: 1. The proportion of the portfolio that expires in the next 12 months (short term), 2. The average time to maturity. 3. Analysis of the maturity concentration in the amortization profile.

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