The External Debt of Slovakia as at 31 August 2008
The total gross external debt was USD 52.8 billion as at the end of August 2008, or EUR 35.8 billion. The total long-term external debt decreased by USD 0.4 billion in August and the total short-term external debt decreased by USD 3.8 billion.
In the total long-term external debt a contrary development in the commercial sector was seen in August, when the long-term external liabilities of commercial banks increased by USD 0.3 billion on a month-on-month basis and the short-term external liabilities of corporations decreased by USD 0.5 billion. The short-term external liabilities of the Government and the NBS decreased by USD 0.2 billion.
As to the short-term external debt, a decrease of USD 2.4 billion in the short-term external liabilities of the commercial banks was reported, of which a decrease of USD 2.2 billion referred to the cash and deposits item. Concurrently the short-term external liabilities of corporations decreased totally by USD 1.4 billion in the period under review , of which USD 0.6 billion in the loans item and USD 0.8 billion in the commercial loans item.
The total gross external debt per capita in Slovakia was USD 9,819 at the end of August. The ratio of total short-term external debt to total gross external debt of Slovakia decreased on a month-on-month basis by 3.0 percentage points at the end of August 2008 and reached the level of 50.2 %.
External Debt of the SR
| mil. USD | mil. EUR | |||||
|---|---|---|---|---|---|---|
| 31.12.2007 | 31.07.2008 | 31.08.2008 | 31.12.2007 | 31.07.2008 | 31.08.2008 | |
| Total external debt of Slovakia | 44 308,7 | 56 984,5 | 52 823,3 | 30 156,2 | 36 547,8 | 35 767,9 |
| 1) Long-term external debt | 20 709,7 | 26 695,4 | 26 309,1 | 14 094,9 | 17 121,5 | 17 757,1 |
| Government and NBS* | 9 502,4 | 11 549,4 | 11 307,2 | 6 467,3 | 7 407,4 | 7 656,4 |
| Commercial banks | 2 150,8 | 2 845,0 | 3 167,3 | 1 463,8 | 1 824,7 | 2 144,6 |
| Corporations | 9 056,5 | 12 301,0 | 11 834,6 | 6 163,8 | 7 889,4 | 8 013,5 |
| 2) Short-term external debt | 23 599,0 | 30 289,1 | 26 514,1 | 16 061,3 | 19 426,3 | 17 953,4 |
| Government and NBS | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 |
| Commercial banks | 12 095,6 | 16 283,0 | 13,880,0 | 8 232,2 | 10 443,3 | 9 398,5 |
| Corporations | 11 503,4 | 14 006,1 | 12 634,1 | 7 829,1 | 8 983,0 | 8 554,9 |
| Foreign assets | 37 017,4 | 43 290,6 | 38 821,7 | 25 193,8 | 27 765,0 | 26 287,2 |
| Net external debt | 7 291,3 | 13 693,9 | 14 001,5 | 4 962,4 | 8 782,8 | 9 480,7 |
| SKK/USD and SKK/EUR | 22,870 | 19,491 | 20,523 | 33,603 | 30,390 | 30,309 |
| EUR/USD Crossrate | – | 1,469 | 1,559 | 1,477 | ||
Source: NBS
* including government agencies and municipalities
Net external debt, calculated as a deduction of gross external debt in the amount of USD 52.8 billion (NBS and Government liabilities, liabilities of commercial banks and liabilities of corporations – excluding capital participation) and foreign assets in the amount of USD 38.8 billion (NBS foreign exchange reserves, foreign assets of commercial banks, foreign assets of corporations – excluding capital participation) reached the debtor position of USD 14.0 billion at the end of August 2008. and on a month-on-month basis it increased by USD 0.3 billion.
Jana Kovacova
Spokesperson of the NBS
National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2161,+421-2-5865 2161, +421-2-5787 2166, 421-2-5865 2166
Internet: http://www.nbs.sk
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