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HomeWorldEuropeRussia's foreign debt fell by 10.5 per cent to $343.3 billion

Russia’s foreign debt fell by 10.5 per cent to $343.3 billion

The Central Bank of Russia (CBR) reported in its regular bulletin on 10 October that as of 30 June 2023, the external debt of the Russian Federation amounted to $343.3bn. Thus, it has decreased by 10.5% since the end of 2022, according to bne IntelliNews.

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 to non-residents decreased by 50.6% compared to 30 June 2022. Total external debt of the central bank and banks decreased by 17.6%, external debt of other sectors dropped by 26.7%.

From January to June 2023, the reduction in debt in the national currency was influenced by a decrease in debt on sovereign debt securities. The decrease in foreign currency debt was mainly due to long-term loans attracted within the framework of direct investment relations.

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