{"id":537722,"date":"2026-11-14T05:26:45","date_gmt":"2026-11-14T05:26:45","guid":{"rendered":"https:\/\/almomento.net\/?p=1165632"},"modified":"2026-11-14T05:26:45","modified_gmt":"2026-11-14T05:26:45","slug":"parada-abrupta-del-financiamiento-externo","status":"publish","type":"post","link":"https:\/\/sarmiento24h.com\/?p=537722","title":{"rendered":"Parada abrupta del financiamiento externo"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/almomento.net\/wp-content\/uploads\/2025\/09\/lara-e1757153918328.jpg?w=400\" class=\"ff-og-image-inserted\"><\/div>\n<div readability=\"13\">\n<p><strong><span>POR MARCELINO LARA<\/span><\/strong><\/p>\n<p><span>En el actual modelo de producci\u00f3n capitalista sustentado en un crecimiento econ\u00f3mico financiado con deudas, se ha vuelto muy preocupante, la posibilidad de una parada abrupta del financiamiento externo (sudden stop), originada por el deterioro progresivo de las finanzas p\u00fablicas de un pa\u00eds cualquiera.<\/span><\/p>\n<\/div>\n<p>Por esa raz\u00f3n, la politica econ\u00f3mica interna, de la mayor\u00eda de pa\u00edses occidentales, est\u00e1 orientada a garantizar un flujo positivo permanente de endeudamiento externo para sustentar cierto nivel de crecimiento econ\u00f3mico.<\/p>\n<p>En ese sentido el principal objetivo de politica econ\u00f3mica es mantener tranquilos a los tenedores de bonos, que son los que financian el presupuesto, los cuales se inquietan bastante cuando observan alguna subida en el tipo de inter\u00e9s del bono de un pa\u00eds en los mercados financieros, por efecto de cualquier acontecimiento pol\u00edtico, econ\u00f3mico, o militar que pueda alterar la estabilidad de los mercados financieros globales.<\/p>\n<p>Para poder lograr ese objetivo, la politica econ\u00f3mica de la mayor\u00eda de los pa\u00edses occidentales, est\u00e1 orientada a generar las condiciones financieras y monetarias necesarias, para garantizar el pago a los tenedores de bonos, y as\u00ed mantener un flujo positivo permanente de d\u00f3lares, a trav\u00e9s del endeudamiento externo.<\/p>\n<p>Si sucede cualquier acontecimiento que ponga en duda dicho pago, el p\u00e1nico se apodera de los mercados financieros y se puede producir una parada abrupta del financiamiento externo (sudden stop).<\/p>\n<p>Antes de pasar a exponer las consecuencias de un corte abrupto del financiamiento externo, veamos el comportamiento del rendimiento (tipos de inter\u00e9s) del bono dominicano durante este a\u00f1o 2026.<\/p>\n<p>En los meses enero-marzo de 2026, se produjo un shock en los mercados financieros de bonos, debido a la guerra en el golfo p\u00e9rsico. Nuestro pa\u00eds no realiz\u00f3 colocaciones de bonos en ese per\u00edodo, pero de haberlo hecho, hubiera tenido que pagar entre 6.95% y 7.20%, para que esos bonos pudieran haber sido pagados colocados exitosamente en los mercados financieros.<\/p>\n<p>En el periodo abril-agosto los mercados se comportaron al estilo de una monta\u00f1a rusa. Cuando USA atacaba a Ir\u00e1n, el mercado entraba en p\u00e1nico y sub\u00eda el rendimiento en 20 puntos b\u00e1sicos, y cuando aparec\u00eda alguna esperanza de paz, a trav\u00e9s de alg\u00fan medio de comunicaci\u00f3n importante, entonces bajaba 20 puntos b\u00e1sicos, se comport\u00f3 igual que el precio del barril de petr\u00f3leo.<\/p>\n<p>En el mes de septiembre, el Banco Central decidi\u00f3 aumentar la Tasa de Inter\u00e9s de Politica Monetaria (TPM) a 5.50%, y por esa raz\u00f3n, el bono dominicano a octubre, se cotiz\u00f3 a 6.85%, y no a 7.20%, a pesar de que el precio del barril de petr\u00f3leo se increment\u00f3 a US$116.00 d\u00f3lares, m\u00e1s alto que en el pasado mes de marzo, cuando el bono dominicano present\u00f3 un rendimiento pico de 6.95%, por crisis en el estrecho de Ormuz.<\/p>\n<p>Recordemos siempre que existe una relaci\u00f3n inversa entre el precio del bono, y su tasa de rendimiento. Cuando el rendimiento es alto el precio del bono baja, y al rev\u00e9s.<\/p>\n<p>Y ese movimiento guarda relaci\u00f3n con la fortaleza econ\u00f3mica del estado que emite el bono, principalmente, la fortaleza de sus finanzas p\u00fablicas, que define su capacidad de pago, y por tanto, el riesgo pa\u00eds. (Este art\u00edculo continuar\u00e1)<\/p>\n<div class=\"heateor_sss_sharing_container heateor_sss_horizontal_sharing\" data-heateor-sss-href=\"https:\/\/almomento.net\/parada-abrupta-del-financiamiento-externo\/\" readability=\"7\">\n<p>Comp\u00e1rtelo en tus redes:<\/p>\n<\/div>\n<p> <!-- 468x60 --><br \/>\n<ins class=\"adsbygoogle\" data-ad-client=\"ca-pub-3511341636159665\" data-ad-slot=\"3538255450\"><\/ins> <!-- .entry-content --> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>POR MARCELINO LARA En el actual modelo&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":537723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-537722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Parada abrupta del financiamiento externo - Sarmiento24h<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sarmiento24h.com\/?p=537722\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parada abrupta del financiamiento externo - Sarmiento24h\" \/>\n<meta property=\"og:description\" content=\"POR MARCELINO LARA En el actual modelo&#046;&#046;&#046;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sarmiento24h.com\/?p=537722\" \/>\n<meta property=\"og:site_name\" content=\"Sarmiento24h\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/s24hnoticias\" \/>\n<meta property=\"article:published_time\" content=\"2026-11-14T05:26:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/almomento.net\/wp-content\/uploads\/2025\/09\/lara-e1757153918328.jpg?w=400\" \/>\n<meta name=\"author\" content=\"sarmiento24h@gmail.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@sarmiento24h\" \/>\n<meta name=\"twitter:site\" content=\"@sarmiento24h\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"sarmiento24h@gmail.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722\"},\"author\":{\"name\":\"sarmiento24h@gmail.com\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#\\\/schema\\\/person\\\/d653a59725ad629a7e0429af7b939d4d\"},\"headline\":\"Parada abrupta del financiamiento externo\",\"datePublished\":\"2026-11-14T05:26:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722\"},\"wordCount\":566,\"publisher\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/uploads\\\/2026\\\/11\\\/parada-abrupta-del-financiamiento-externo.jpg\",\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"es\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722\",\"url\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722\",\"name\":\"Parada abrupta del financiamiento externo - Sarmiento24h\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/uploads\\\/2026\\\/11\\\/parada-abrupta-del-financiamiento-externo.jpg\",\"datePublished\":\"2026-11-14T05:26:45+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722#primaryimage\",\"url\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/uploads\\\/2026\\\/11\\\/parada-abrupta-del-financiamiento-externo.jpg\",\"contentUrl\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/uploads\\\/2026\\\/11\\\/parada-abrupta-del-financiamiento-externo.jpg\",\"width\":400,\"height\":297},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/?p=537722#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/sarmiento24h.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Parada abrupta del financiamiento externo\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#website\",\"url\":\"https:\\\/\\\/sarmiento24h.com\\\/\",\"name\":\"Sarmiento24h\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/sarmiento24h.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"es\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#organization\",\"name\":\"Sarmiento24h\",\"url\":\"https:\\\/\\\/sarmiento24h.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/uploads\\\/2025\\\/12\\\/AddText_12-16-10.30.52.jpg\",\"contentUrl\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/uploads\\\/2025\\\/12\\\/AddText_12-16-10.30.52.jpg\",\"width\":1220,\"height\":324,\"caption\":\"Sarmiento24h\"},\"image\":{\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/s24hnoticias\",\"https:\\\/\\\/x.com\\\/sarmiento24h\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/#\\\/schema\\\/person\\\/d653a59725ad629a7e0429af7b939d4d\",\"name\":\"sarmiento24h@gmail.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/litespeed\\\/avatar\\\/d02cbc4e23c747e6659cd45907173c8f.jpg?ver=1794096249\",\"url\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/litespeed\\\/avatar\\\/d02cbc4e23c747e6659cd45907173c8f.jpg?ver=1794096249\",\"contentUrl\":\"https:\\\/\\\/sarmiento24h.com\\\/wp-content\\\/litespeed\\\/avatar\\\/d02cbc4e23c747e6659cd45907173c8f.jpg?ver=1794096249\",\"caption\":\"sarmiento24h@gmail.com\"},\"sameAs\":[\"https:\\\/\\\/sarmiento24h.com\"],\"url\":\"https:\\\/\\\/sarmiento24h.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Parada abrupta del financiamiento externo - Sarmiento24h","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/sarmiento24h.com\/?p=537722","og_locale":"es_ES","og_type":"article","og_title":"Parada abrupta del financiamiento externo - Sarmiento24h","og_description":"POR MARCELINO LARA En el actual modelo&#46;&#46;&#46;","og_url":"https:\/\/sarmiento24h.com\/?p=537722","og_site_name":"Sarmiento24h","article_publisher":"https:\/\/facebook.com\/s24hnoticias","article_published_time":"2026-11-14T05:26:45+00:00","og_image":[{"url":"https:\/\/almomento.net\/wp-content\/uploads\/2025\/09\/lara-e1757153918328.jpg?w=400","type":"","width":"","height":""}],"author":"sarmiento24h@gmail.com","twitter_card":"summary_large_image","twitter_creator":"@sarmiento24h","twitter_site":"@sarmiento24h","twitter_misc":{"Escrito por":"sarmiento24h@gmail.com","Tiempo de lectura":"3 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/sarmiento24h.com\/?p=537722#article","isPartOf":{"@id":"https:\/\/sarmiento24h.com\/?p=537722"},"author":{"name":"sarmiento24h@gmail.com","@id":"https:\/\/sarmiento24h.com\/#\/schema\/person\/d653a59725ad629a7e0429af7b939d4d"},"headline":"Parada abrupta del financiamiento externo","datePublished":"2026-11-14T05:26:45+00:00","mainEntityOfPage":{"@id":"https:\/\/sarmiento24h.com\/?p=537722"},"wordCount":566,"publisher":{"@id":"https:\/\/sarmiento24h.com\/#organization"},"image":{"@id":"https:\/\/sarmiento24h.com\/?p=537722#primaryimage"},"thumbnailUrl":"https:\/\/sarmiento24h.com\/wp-content\/uploads\/2026\/11\/parada-abrupta-del-financiamiento-externo.jpg","articleSection":["Uncategorized"],"inLanguage":"es"},{"@type":"WebPage","@id":"https:\/\/sarmiento24h.com\/?p=537722","url":"https:\/\/sarmiento24h.com\/?p=537722","name":"Parada abrupta del financiamiento externo - Sarmiento24h","isPartOf":{"@id":"https:\/\/sarmiento24h.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/sarmiento24h.com\/?p=537722#primaryimage"},"image":{"@id":"https:\/\/sarmiento24h.com\/?p=537722#primaryimage"},"thumbnailUrl":"https:\/\/sarmiento24h.com\/wp-content\/uploads\/2026\/11\/parada-abrupta-del-financiamiento-externo.jpg","datePublished":"2026-11-14T05:26:45+00:00","breadcrumb":{"@id":"https:\/\/sarmiento24h.com\/?p=537722#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/sarmiento24h.com\/?p=537722"]}]},{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/sarmiento24h.com\/?p=537722#primaryimage","url":"https:\/\/sarmiento24h.com\/wp-content\/uploads\/2026\/11\/parada-abrupta-del-financiamiento-externo.jpg","contentUrl":"https:\/\/sarmiento24h.com\/wp-content\/uploads\/2026\/11\/parada-abrupta-del-financiamiento-externo.jpg","width":400,"height":297},{"@type":"BreadcrumbList","@id":"https:\/\/sarmiento24h.com\/?p=537722#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/sarmiento24h.com\/"},{"@type":"ListItem","position":2,"name":"Parada abrupta del financiamiento externo"}]},{"@type":"WebSite","@id":"https:\/\/sarmiento24h.com\/#website","url":"https:\/\/sarmiento24h.com\/","name":"Sarmiento24h","description":"","publisher":{"@id":"https:\/\/sarmiento24h.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/sarmiento24h.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"es"},{"@type":"Organization","@id":"https:\/\/sarmiento24h.com\/#organization","name":"Sarmiento24h","url":"https:\/\/sarmiento24h.com\/","logo":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/sarmiento24h.com\/#\/schema\/logo\/image\/","url":"https:\/\/sarmiento24h.com\/wp-content\/uploads\/2025\/12\/AddText_12-16-10.30.52.jpg","contentUrl":"https:\/\/sarmiento24h.com\/wp-content\/uploads\/2025\/12\/AddText_12-16-10.30.52.jpg","width":1220,"height":324,"caption":"Sarmiento24h"},"image":{"@id":"https:\/\/sarmiento24h.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/facebook.com\/s24hnoticias","https:\/\/x.com\/sarmiento24h"]},{"@type":"Person","@id":"https:\/\/sarmiento24h.com\/#\/schema\/person\/d653a59725ad629a7e0429af7b939d4d","name":"sarmiento24h@gmail.com","image":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/sarmiento24h.com\/wp-content\/litespeed\/avatar\/d02cbc4e23c747e6659cd45907173c8f.jpg?ver=1794096249","url":"https:\/\/sarmiento24h.com\/wp-content\/litespeed\/avatar\/d02cbc4e23c747e6659cd45907173c8f.jpg?ver=1794096249","contentUrl":"https:\/\/sarmiento24h.com\/wp-content\/litespeed\/avatar\/d02cbc4e23c747e6659cd45907173c8f.jpg?ver=1794096249","caption":"sarmiento24h@gmail.com"},"sameAs":["https:\/\/sarmiento24h.com"],"url":"https:\/\/sarmiento24h.com\/?author=1"}]}},"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/sarmiento24h.com\/wp-content\/uploads\/2026\/11\/parada-abrupta-del-financiamiento-externo.jpg","_links":{"self":[{"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=\/wp\/v2\/posts\/537722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=537722"}],"version-history":[{"count":0,"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=\/wp\/v2\/posts\/537722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=\/wp\/v2\/media\/537723"}],"wp:attachment":[{"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=537722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=537722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sarmiento24h.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=537722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}