Romania's public short term external debt up 212% y/y as at end-Q2.

By bne IntelliNews August 16, 2011
Romania's public external short term debt soared by 212% y/y to over EUR 3bn as at end-Q2, according to the detailed external data, released by the central bank. In mid of 2009, the public external short-term debt of the Romanian government stood at only EUR 95mn. but then rose ten-fold to EUR 0.97bn one year later and further soared above EUR 3bn in June 2011. Nonetheless, the governments share in the total short-term external debt was only 14%, while the banks' share was 34%. The rest of roughly 50% is owed by companies. The total external debt increased by 28% y/y to EUR 21.5bn at the end of June, or 66% of the foreign currency reserves at the central bank.

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