The External Debt of Slovakia as at 31 march 2008
The total gross external debt was USD 49.4 billion as at the end of March 2008, or EUR 31.3 billion. The total long-term external debt increased by USD 1.1 billion in March with the increase of total short-term external debt by USD 1.6 billion. The increase of foreign debt as at the end of March 2008 was significantly influenced by the EUR/USD exchange rate.
As to the short-term external debt, external liabilities of the commercial banks increased by USD 1.1 billion in March on a month-on-month basis of which USD 1.0 billion in the cash and deposits item. The short-term external liabilities of corporations increased by USD 0.5 billion, of which an increase of USD 0.3 billion related to commercial loans and an increase of USD 0.2 billion was recorded in the loans item.
Regarding the long-term external debt, external liabilities of the Government and the NBS increased by USD 0.3 billion. The long-term external liabilities of the commercial banks increased by USD 0.1 billion. The external liabilities of corporations increased by USD 0.7 billion in the loans item.
The total gross external debt per capita in Slovakia was USD 9,180 at the end of March. The ratio of total short-term external debt to total gross external debt of Slovakia was 51.9 % at the end of March 2008, which was an increase of 0.4 of a percentage point.
External Debt of the SR
| mil. USD | mil. EUR | |||||
|---|---|---|---|---|---|---|
| 31.12.2007 | 29.02.2008 | 31.03.2008 | 31.12.2007 | 29.02.2008 | 31.03.2008 | |
| Total external debt of Slovakia | 44 308,7 | 46 632,2 | 49 380,2 | 30 156,2 | 30 843,8 | 31 261,0 |
| 1) Long-term external debt | 20 709,7 | 22 631,9 | 23 775,5 | 14 094,9 | 14 969,4 | 15 051,5 |
| Government and NBS* | 9 502,4 | 10 398,4 | 10 677,4 | 6 467,3 | 6 877,8 | 6 759,5 |
| Commercial banks | 2 150,8 | 2 375,3 | 2 497,8 | 1 463,8 | 1 571,1 | 1 581,3 |
| Corporations | 9 056,5 | 9 858,2 | 10 600,3 | 6 163,8 | 6 520,5 | 6 710,7 |
| 2) Short-term external debt | 23 599,0 | 24 000,3 | 25 604,7 | 16 061,3 | 15 874,4 | 16 209,5 |
| Government and NBS | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 |
| Commercial banks | 12 095,6 | 11 503,2 | 12 605,1 | 8 232,2 | 7 608,5 | 7 979,9 |
| Corporations | 11 503,4 | 12 497,1 | 12 999,6 | 7 829,1 | 8 265,9 | 8 229,6 |
| Foreign assets | 37 017,4 | 38 222,0 | 40 420,8 | 25 193,8 | 24 632,8 | 25 589,1 |
| Net external debt | 7 291,3 | 8 410,2 | 8 959,4 | 4 962,4 | 6 211,0 | 5 671,9 |
| SKK/USD and SKK/EUR | 22,870 | 21,696 | 20,645 | 33,603 | 32,802 | 32,611 |
| EUR/USD Crossrate | – | 1,469 | 1,552 | 1,580 | ||
Source: NBS
* including government agencies and municipalities
Net external debt, calculated as a deduction of gross external debt in the amount of USD 49.4 billion (NBS and Government liabilities, liabilities of commercial banks and liabilities of corporations – excluding capital participation) and foreign assets in the amount of USD 40.4 billion (NBS foreign exchange reserves, foreign assets of commercial banks, foreign assets of corporations – excluding capital participation) reached the debtor position of USD 9.0 billion at the end of March 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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