Chris Doss The Russia Journal ---------------------------- Russia's new debt totals $51 bln as of early 2002
MOSCOW. May 14 (Interfax)- As of January 1, 2002 Russia's new debt is estimated at $51 billion, an analytical review of Russia's balance of payment and foreign debt in 2001 published in the Central Bank Bulletin on Tuesday said.
Foreign currency-denominated securities worth $27 billion (53% of the debt) and loans granted by international financial organizations amounting to $14.4 billion (28%) account for the largest part of the country's new debt. Debts on intergovernmental loans total $6.4 billion (13%) and on GKO-OFZ ruble-denominated obligations to non-residents stand at $0.6 billion (1%).
The Central Bank said in its review that residents' foreign debt decreased by $10.5 billion in 2001 from $161.4 billion to $150.9 billion.
Debts of the state-owned sector of $113.8 billion (75%) continue to dominate Russia's foreign debt, including the Russian government's debts of $112.8 billion and those of the country's regions totaling $1 billion.
As of January 1, 2002, Russia's Soviet-era debt stands at 55% of the country's entire debt.
Aggregate foreign debts of Russian residents amounted to 49% of the country's GDP in early 2002, with the state-owned sector's debts standing at 37% of GDP.