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The External Debt of Slovakia as at 31 July 2008

The total gross external debt was USD 57.0 billion as at the end of July 2008, or EUR 36.5 billion. The total long-term external debt increased by USD 0.2 billion in July when the total short-term external debt increased by USD 0.7 billion.

As to the short-term external debt, external liabilities of the commercial banks increased by USD 0.7 billion in July on a month-on-month basis and an increase of USD 0.5 billion was reported in the loans item. The short-term external liabilities of corporations increased only slightly in the period under review.

Regarding long-term external debt, the figure for external liabilities in the item Government and the NBS increased by USD 0.2 billion, owing to the increased interest in purchase of government bonds in SKK. External liabilities of the commercial sector increased only minimally.

The total gross external debt per capita in Slovakia was USD 10,593 at the end of July. The ratio of total short-term external debt to total gross external debt of Slovakia was 53.2 % at the end of July 2008, which was a month-on-month increase of 0.4 percentage points.

External Debt of the SR

mil. USDmil. EUR
31.12.200730.06.200831.07.200831.12.200730.06.200831.07.2008
Total external debt of Slovakia44 308,756 110,256 984,530 156,235 627,936 547,8
1) Long-term external debt20 709,726 497,526 695,414 094,916 824,917 121,5
Government and NBS*9 502,411 385,511 549,46 467,37 229,47 407,4
Commercial banks2 150,82 820,52 845,01 463,81 790,91 824,7
Corporations9 056,512 291,512 301,06 163,87 804,67 889,4
2) Short-term external debt23 599,029 612,730 289,116 061,318 803,019 426,3
Government and NBS0,00,00,00,00,00,0
Commercial banks12 095,615 632,716 283,08 232,29 926,210 443,3
Corporations11 503,413 980,014 006,17 829,18 876,88 983,0
Foreign assets37 017,443 252,943 290,625 193,827 464,027 765,0
Net external debt7 291,312 857,313 693,94 962,48 163,98 782,8
SKK/USD and SKK/EUR22,87019,24719,49133,60330,31230,390
EUR/USD Crossrate 1,4691,5751,559

Source: NBS
* including government agencies and municipalities

Net external debt, calculated as a deduction of gross external debt in the amount of USD 57.0 billion (NBS and Government liabilities, liabilities of commercial banks and liabilities of corporations – excluding capital participation) and foreign assets in the amount of USD 43.3 billion (NBS’s foreign exchange reserves, foreign assets of commercial banks, foreign assets of corporations – excluding capital participation), reached a debtor position of USD 13.7 billion at the end of July 2008, and on a month-on-month basis it increased by USD 0.8 billion.

Jana Kováčová
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
http://www.nbs.sk

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