The gross external debt "shrinks" by 113 million euros - BSH: It falls to 40.9% of the Gross Domestic Product
Albania's gross foreign debt is estimated at 10 billion ALL. As a result of the reduction of the public debt, the stock of external debt decreased by 113 million euros or by 1.1%. Official data from the Bank of Albania show that at the end of the third quarter, the gross external debt is at the level of 40.9% of the Gross Domestic Product (GDP), from 42.6% that was at the end of the second quarter.
About 7.1 billion or 71% of the external debt is in euros, while only 7% is in US dollars. Almost 88% of the total debt is long-term debt, while 12% is short-term debt. Specifically, the long-term external debt is calculated at 8.8 billion ALL and the short-term at almost 1.2 billion ALL.
In terms of long-term external debt according to instruments, loans continue to dominate at 47% of the total. On the other hand, financial instruments in the form of direct investments, as well as commercial loans and advances account for 18% and 49% of the short-term debt balance, respectively.
But who are the creditors of Albania's foreign debt?
According to Bank of Albania statistics, public creditors, i.e. loans from international financial institutions, hold most of the surplus of long-term foreign debt. Private bank and government portfolio investments, as well as loans from private banks and other private institutions, each account for 15% of long-term external debt.
During the next year, Albania plans to issue a Eurobond of 650 million euros, the seventh in its history and which is expected to further increase the country's external debt.
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