Russia’s external debt falls 10.5% to $343.3bn year to date

Russia’s external debt falls 10.5% to $343.3bn year to date
Russia’s external debt fell 10.5% year to date to $343.3bn, including general government debt owed to non-residents which was down by half. / bne IntelliNews
By bne IntelliNews October 11, 2023

As of June 30, 2023, external debt of the Russian Federation amounted to $343.3bn, having decreased by 10.5% since the end of 2022, the Central Bank of Russia (CBR) said in its latest bulletin on October 10.

The reduction in external debt was mainly due to a decline in debt on loans raised by other sectors from affiliated foreign companies, including as a part of issue of Eurobonds, as well as a decrease in the volume of non-resident funds in Russian banks accounts.

General government debt owed to non-residents decreased by 50.6%, compared to June 30, 2022, total foreign debt liabilities of central bank and banks dropped by 17.6%, with the external debt of other sectors declining by 26.7%.

From January to June 2023, the reduction in the debt in the domestic currency was influenced by decrease in the debt on sovereign debt securities. The decrease in the debt denominated in foreign currencies was mainly registered in long-term loans raised within the framework of direct investment relationship.

1023 Russia macro debt annual rate of debt dynamics CBR

 

​1023 Russia macro debt annual rate of debt dynamics USD CBR

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