January 3 (SeeNews) - Moldova's foreign debt rose to $6.74 billion (5.63 billion euro) in the third quarter of the year from $6.235 billion at end-2016, data from the country's central bank, BNM, showed on Tuesday.
The 8.1% increase in foreign debt compared to end-2016 was mainly due to financial assistance received by Moldova in the three months through September from international lenders, BNM data showed.
In August, the World Bank lent Moldova $20 million for higher quality government administrative services.
In July, the European Bank for Reconstruction and Development (EBRD) lent 80 million euro to Moldova to help the country develop its electricity interconnection with neighbouring Romania.
In June, the Council of the European Union and the European Parliament agreed on providing 100 million euro to help Moldova fund its structural reforms.
At the end of September, Moldova also owed a total of $599 million to the International Development Association, $283.3 million to the International Monetary Fund (IMF), $185.8 million to the European Investment Bank, $76.5 million to the International Bank for Reconstruction and Development and $63.3 million to the EBRD.
Also, one of its biggest creditors among states are neighbouring Romania with $169.8 million, Japan with $58.2 million and Russia, with $46.3 million.
The end-2017 debt is expected to increase further, as in December the EU released 36.3 million euro of a total of 47 million euro requested by Moldova to help the country boost exports to the EU and speed up reforms in the administration. Also in December, the IMF decided to make available to Moldova $22 million under the current three-year funding arrangement. Moldova already received a total of $57.5 million in two tranches under the current three-year credit facility of $183.1 million, approved in November 2016.
Details follow (in millions of dollars):
|
Q3 2017 |
end-2016 |
General government |
1,685.34 |
1,481.68 |
Monetary authorities |
262.82 |
292.28 |
Banks |
399.59 |
375.23 |
Other sectors |
3,271.65 |
3,020.84 |
Direct investment: inter-company lending |
1,123.57 |
1,065.20 |
TOTAL |
6,742.97 |
6,235.23 |
The end-of-month foreign debt figures released by the BNM exclude trade credits, non-resident deposits in Moldovan banks and local currency in possession of non-residents. The BNM releases figures for those liabilities quarterly, in a balance of payments report.
($=0.8351 euro)