by
June 13 – June 19, 2011

Growth of external debt

The situation has not changed
Growth of external debt

Gross foreign debt of Belarus on 1 April 2011 reached USD 31711.8 million, increasing by USD 3221.2 million (11.3%) from the beginning of the year. External debt of public administration grew by USD 939.7 million (9.3%) to USD 10997.6 million.

Foreign debt of the monetary institutions amounted to USD 1713.5 million, decreasing in the first quarter by USD 141.8 million (7.6%). Debt of commercial banks increased by USD 1080.5 million (18.8%) to USD 6832.6 million. External debt of other sectors amounted to USD 11309.9 million, increasing by USD 1310.3 million (13.1%).

Direct investment increased by USD 32.5 million (3.9%) to USD 858.2 million.

Comment

External debt is growing and will grow, creating an issue for the government regarding debt management. In 2011 debt repayment were not particularly heavy however in 2012 debt service will exceed $ 2 billion. Accordingly, the authorities have two options: continue building a financial pyramid where the repayment of old debts comes from new ones or start privatization of strategic assets.

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