The External Debt of Slovakia as at 31 October 2008
Gross external debt
The total gross external debt was USD 48.6 billion as at the end of October 2008, or EUR 37.3 billion. The total long-term external debt decreased by USD 2.4 billion in October with the decrease of the total short-term external debt by USD 2.0 billion. The month-on-month decrease in foreign debt of the SR was significantly influenced by the EUR/USD exchange rate.
As to the total long-term external debt in September, the figure for external liabilities in the item Government and NBS decreased by USD 1.1 billion. owing to the decreased interest in purchase of government bonds denominated in SKK. Long-term foreign debt of the commercial sector decreased by USD 1.3 billion of which the foreign debt of the commercial Banks by USD 0.3 billion and the foreign debt of corporations by USD 1.0 billion, of which a decrease of USD 0.9 billion was that of loans.
As to the short-term external debt, a decrease of USD 1.2 billion in the short-term external liabilities of the commercial banks was reported and short-term external liabilities of corporations decreased by USD 0.8 billion, of which a decrease of USD 0.7 billion was reported in the commercial loans item.
The total gross external debt per capita in Slovakia was USD 9,041 at the end of October. The ratio of total short-term external debt to total gross external debt of Slovakia was 51.8 % at the end of October 2008, which was a month-on-month increase of 0.5 percentage points.
External Debt of the SR
| mil. USD | mil. EUR | |||||
| 31. 12. 2007 | 30. 09. 2008 | 31. 10. 2008 | 31. 12. 2007 | 30. 09. 2008 | 31.10.2008 | |
| Total external debt of Slovakia | 44 308,7 | 53 045,3 | 48 633,4 | 30 156,2 | 36 963,7 | 37 295,7 |
| 1) Long-term external debt | 20 709,7 | 25 848,3 | 23 459,8 | 14 094,9 | 18 011,9 | 17 990,7 |
| Government and NBS* | 9 502,4 | 10 831,9 | 9 716,5 | 6 467,3 | 7 548,0 | 7 451,3 |
| Commercial banks | 2 150,8 | 3 135,5 | 2 879,2 | 1 463,8 | 2 184,9 | 2 208,0 |
| Corporations | 9 056,5 | 11 880,9 | 10 864,1 | 6 163,8 | 8 279,0 | 8 331,4 |
| 2) Short-term external debt | 23 599,0 | 27 197,0 | 25 173,6 | 16 061,3 | 18 951,8 | 19 305,0 |
| Government and NBS | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 |
| Commercial banks | 12 095,6 | 14 225,5 | 12 992,2 | 8 232,2 | 9 912,8 | 9 963,4 |
| Corporations | 11 503,4 | 12 971,5 | 12 181,4 | 7 829,1 | 9 039,0 | 9 341,6 |
| Foreign assets | 37 017,4 | 40 142,4 | 36 917,6 | 25 193,8 | 27 972,6 | 28 311,1 |
| Net external debt | 7 291,3 | 12 902,9 | 11 715,8 | 4 962,4 | 8 991,1 | 8 984,6 |
| SKK/USD and SKK/EUR | 22,870 | 21,112 | 23,306 | 33,603 | 30,297 | 30,391 |
| EUR/USD Crossrate | – | 1,469 | 1,435 | 1,304 | ||
Source: NBS
* including government agencies and municipalities
Net external debt, calculated as a deduction of gross external debt in the amount of USD 48.6 billion (NBS and Government liabilities, liabilities of commercial banks and liabilities of corporations – excluding capital participation) and foreign assets in the amount of USD 36.9 billion (NBS’s foreign exchange reserves, foreign assets of commercial banks, foreign assets of corporations – excluding capital participation) reached a debtor position of USD 11.7 billion at the end of October 2008 and on a month-on-month basis it decreased by USD 1.2 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 2168,+421-2-5865 2168, +421-2-5787 2169, 421-2-5865 2169
Internet: http://www.nbs.sk
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