FinMin: Russia's foreign debt down by 1.8% ytd to USD 49.84bn as of May 1.

By bne IntelliNews May 20, 2013

As announced by FinMin, government's external debt as of May 1 amounted to USD 49.84bn, inching by 0.06% m/m and declining by 1.8% ytd. In EUR terms external debt went down by 1.9% m/m and 0.5% ytd amounting to EUR 38.14bn. Most of the debt accounted for Eurobonds borrowings that stood at USD 34.27bn. As of end of 2012 government’s external debt increased by 41.8% in USD terms and 38.6% in EUR, according to FinMin. According to the previous reports, drafted 2013-2015 budget included annual Eurobond issues worth USD 7bn.

At the end of March 2012 FinMin issued USD 2bn worth of 5-year bonds at coupon rate of 3.25%, USD 2bn worth of 10-year Eurobonds at a rate of 4.5% and USD 3bn worth of 30-year bonds at a rate of 5.625%. With this Eurobond issue FinMin covered all the planned foreign borrowings of USD 7bn for last year. This year a Eurobond placement is anticipated in the beginning of H2/13.  

Domestic debt exceeds external debt, with government's domestic debt in securities (not including state guarantees) increasing by 14.6% to RUB 4.064tn (USD 133bn) as of January 1 2013, according to FinMin data. The growth rate of the indicator accelerated towards the end of the year as compared to about 5.4% ytd in Jan-May 2012. As of end of 2010 government's domestic debt in securities went up by 34% ytd to RUB 2.46tn, as of end of 2009 by 40% to about RUB 1.5tn. This makes almost triple domestic debt growth in the past three years. 

Related Articles

Azerbaijan's Aliyev, Russia's Putin hold surprise meeting in Sochi

Azerbaijani President Ilham Aliyev and Russian President Vladimir Putin held an unannounced meeting in Sochi on July 21, according to RIA Novosti press agency. The two heads of state reportedly ... more

Siemens fumes as worst suspicions on Crimea turbines confirmed

German technology major Siemens said on July 21 it has "credible evidence" that all four gas turbines supplied for a power plant in the south of Russia were locally modified and illegally supplied ... more

Azerbaijan jails Russian blogger for three years for Nagorno-Karabakh visit

A Baku court sentenced Russian travel blogger Alexander Lapshin to three years behind bars for having ... more