The public part of Romania's medium and long term external debt increased by 29% y/y to EUR 20.3bn at the end of February, rising by more than EUR 1bn in February alone due to the USD 1.5bn bond the country placed on the US market, the central bank said on its website. On the opposite, the private medium- and long-term external debt narrowed by 3.9% y/y to EUR 35.8bn. Overall, the country's medium and long term external debt increased more moderately, by 3.6% y/y to EUR 75.5bn, corresponding to some 58% of the country's GDP. The country's short-term debt increased rather strong, by 15.7% y/y to EUR 22.5bn at the end of February, but there was no available data immediately in regard to the public/private breakdown. It is, however, likely that the private short term debt has driven the trend since the public external short term debt is traditionally small (less than 10% of total short term debt at the end of 2011). The private sector's EUR 1.5bn drop in medium-term external debt was therefore more than offset by the stronger short-term external borrowing and its external indebtedness must have increased on the year.
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