Romanias external debt up by 11.6% y/y as at end-Jun.

By bne IntelliNews August 12, 2011
Romania's external debt increased by 11.6% y/y to EUR 97.1bn at the end of June, or 58.2% of the projected full-year GDP, according to the central bank. The central banks foreign currency reserves, which stood at EUR 32.7bn at the end of June, provided 152% coverage of the short-term debt, down from 188% one year earlier, but still better than the 127% at the end of 2008, before the global credit crunch. Out of the EUR 10.1bn rise in the countrys external debt over the past 12 months, the largest share (EUR 4.66bn) accounted for the higher short-term debt that ballooned by 27.8% on the year. The short-term debt reached the record-high level of EUR 21.46bn at the end of June. But as a share in the total external debt, it remained below the 28% level in end-2008, i.e. before the global crisis. The countrys medium and long term-debt increased by 6.6% y/y to EUR 75.66bn at the end of June, advancing by EUR 4.67bn over the past year mainly on the back of disbursements from the IMF, the EC and the WB.

Romanias external debt up by 11.6% y/y as at end-Jun.

Related Articles

Romania to spend EUR 37mn in 2013 to close down loss-making coal mines.

Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more

Romanias Hidroelectrica sells nearly 0.3TWh of electricity on free market.

Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more

Romania to start privatisation of cargo railway company on April 6-8.

The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss