The External Debt of Slovakia as at 29 February 2008
The total gross external debt was USD 46.6 billion or EUR 30.8 billion. The total long-term external debt increased by USD 1.2 billion in February, with the increase of total short-term external debt by USD 1.8 billion. The increase of foreign debt as at the end of February 2008 was significantly influenced by the EUR/USD exchange rate. As to short-term external debt in February, external liabilities of commercial banks increased month-on-month by USD 0.7 billion of which USD 0.6 billion in the cash and deposits item.
The short-term external liabilities of corporations increased by USD 1.1 billion, of which an increase of USD 0.9 billion concerned to commercial loans and an increase of commercial loans by USD 0.2 billion. was recorded in the loans item. Regarding long-term external debt, the figure for external liabilities in the item Government and the NBS increased by USD 0.3 billion, in particular due to the increased interest in purchase of government bonds denominated in Slovak koruna.
Long-term external liabilities of commercial banks increased by USD 0.1 billion. Long-term external liabilities of corporations increased by USD 0.8 billion in the loans item. The total gross external debt per capita in Slovakia was USD 8,669 at the end of February. The ratio of total short-term external debt to total gross external debt of Slovakia was 51.5 % at the end of February 2008, which was a month-on-month decrease of 0.7 of a percentage point.
External Debt of the SR
| in USD million | in EUR million | |||||
|---|---|---|---|---|---|---|
| 31.12.2007 | 31.01.2008 | 29.02.2008 | 31.12.2007 | 31.01.2008 | 29.02.2008 | |
| Total external debt of Slovakia | 44 308,7 | 43 663,3 | 46 632,2 | 30 156,2 | 29 480,0 | 30,843,8 |
| 1) Long-term external debt | 20 709,7 | 21 480,0 | 22 631,9 | 14 094,9 | 14 502,9 | 14 969,4 |
| Government and NBS * | 9 502,4 | 10 130,9 | 10 398,4 | 6 467,3 | 6 840,2 | 6 877,8 |
| Commercial banks | 2 150,8 | 2 262,8 | 2 375,3 | 1 463,8 | 1 527,8 | 1 571,1 |
| Corporations | 9 056,5 | 9 086,3 | 9 858,2 | 6 163,8 | 6 134,9 | 6 520,5 |
| 2) Short-term external debt | 23 599,0 | 22 182,3 | 24 000,3 | 16 061,3 | 14 977,1 | 15 874,4 |
| Government and NBS | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 |
| Commercial banks | 12 095,6 | 10 803,0 | 11 503,2 | 8 232,2 | 7 294,0 | 7 608,5 |
| Corporations | 11 503,4 | 11 379,3 | 12 497,1 | 7 829,1 | 7 683,1 | 8 265,9 |
| Foreign assets | 37 017,4 | 37 275,0 | 38 222,0 | 25 193,8 | 25 167,4 | 24 632,8 |
| Net external debt | 7 291,3 | 6 387,3 | 8 410,2 | 4 962,4 | 4 312,6 | 6 211,0 |
| USD and EUR exchange rate | 22,870 | 22,730 | 21,696 | 33,603 | 33,665 | 32,802 |
| EUR/USD cross rate | – | – | – | 1,469 | 1,481 | 1,552 |
Source: NBS
* including government agencies and municipalities Net external debt, calculated as a deduction of gross external debt in the amount of USD 46.6 billion (NBS and Government liabilities, liabilities of commercial banks and liabilities of corporations – excluding capital participation) and foreign assets in the amount of USD 38.2 billion (NBS foreign exchange reserves, foreign assets of commercial banks, foreign assets of corporations – excluding capital participation) reached the debtor position of USD 8.4 billion at the end of January 2008.
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
Internet: http://www.nbs.sk
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