Eurobond does job

  • 2003-06-05
  • Baltic News Service
VILNIUS

Lithuania's total public debt shrank by 1 billion litas (297 million euros) to 13.3 billion litas in April of this year due to the government's redemption of a 250 million euro Eurobond that had been placed in 1999.

As a result, total public debt at the end of April accounted for 24.8 percent of the country's projected gross domestic product, the Finance Ministry reported last week.

Total foreign debt as of April 30, 2003, reached 9.2 billion litas, or 69.3 percent of the total public debt.

Lithuania's debt to the World Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Nordic Investment Bank and other international organizations totaled 1.7 billion litas at the end of April.

The country also owed 484 million litas to foreign government bodies, 181.6 million litas to the IMF, and 6.8 billion litas to other creditors (commercial banks and financial institutions).

The country's total domestic debt reached 4 billion litas at the end of April, which accounted for 30.7 percent of the total public debt.