Investor Presentaiton

Central Government's flow of funds Uses and Sources of Funds (In USD million) 2018(*) 2019(*) FINANCING NEEDS 3,352 3,012 Interest Payments 1,640 1,647 Amortization (a) 1,658 1,580 Primary Deficit (b) 54 -215 FUNDING SOURCES 3,352 3,143 Multilateral Disbursements 360 350 Total Bond Issuance 2,700 2,950 Foreign market 1,750 Domestic market 950 Net Others 165 180 Use of Assets (c) 127 -467 (*) Preliminary (a) Includes repurchases and early bond redemptions for USD 217 million in 2018. (b) Negative value indicates a primary surplus of the Central Government. (c) Positive indicates a reduction in Central Government reserves. Source: Ministry of Economy and Finance 39

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