July 2 (SeeNews) - Moldova's foreign debt rose to $7.2 billion (6.18 billion euro) in the first quarter of the year from $6.97 billion at the end of 2017, according to data released by the country's central bank, BNM.
The 3.3% increase in foreign debt in the period under review was mainly due to financial assistance from international lenders received by Moldova in the three months through March, BNM data shows.
At the end of March, Moldova owed a total of $623 million to the International Development Association, $292 million to the International Monetary Fund (IMF), $194 million to the European Investment Bank, $85 million to the International Bank for Reconstruction and Development and $66 million to the European Bank for Reconstruction and Development.
Neighbouring Romania was one of Moldova's biggest creditors among states with $160 million in the first quarter, followed by Japan with $61 million and Russia with $44 million.
Moldova's external debt is expected to increase in the second quarter after the US Agency for International Development (USAID) granted $20.5 million to Moldovan municipalities in May to support infrastructure development projects.
Also in May, the IMF lent Moldova $21.5 million under the country's current three-year $178.7 million credit facility extended in November 2016.
Details follow (in millions of US dollars):
|
Q1 2018 |
end-2017 |
General government |
1,729.41 |
1,722.54 |
Monetary authorities |
249.25 |
264.29 |
Banks |
486.34 |
440.44 |
Other sectors |
2,863.00 |
2,707.54 |
Direct investment: inter-company lending |
1,876.68 |
1,838.89 |
TOTAL |
7,204.68 |
6,973.70 |
The end-of-month foreign debt figures released by the BNM exclude trade credits, non-resident deposits in Moldovan banks and local currency in possession of non-residents. The BNM releases figures for those liabilities quarterly, in a balance of payments report.
($= 0.8589 euro)