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Central Government Debt Narrowed over the Last Three-Months

Date

2005 01 27

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Vilnius, January 27, 2005. According to the data presented by the Ministry of Finance, the central government debt kept decreasing  the third month successively. In November 2004 the aforementioned debt narrowed by LTL 7.9 million and in end-month amounted to LTL 11.49 billion, i.e. made up 18.8 % of the projected GDP of the current year.

In November the central government domestic debt grew by LTL 150.5 million and  in end-month made up LTL 3984.6 million, or accounted for 34,7% of total central government debt. Long-term domestic debt liabilities amounted to LTL 3,603.7 million, short-term liabilities made up LTL 380.9 million. The central government was indebted to domestic creditors: financial sector – LTL 3,144.9 million, non-financial – LTL 432.4 million, other creditors – LTL 407.3 million.

The central government foreign debt narrowed by LTL 158.4 million over November and on 30 November 2004 amounted to LTL 7,508.1 million, or represented 65.3% of total central government debt. The central government was indebted to foreign creditors: international organisations – LTL 975.1 million, foreign government institutions – LTL 246.1 million, the International Monetary Fund – LTL 73.7 million, other creditors (commercial banks and financial institutions) – LTL 6,213.2 million.

In November the central government issued the Treasury bills with the value of LTL 80 million, bonds with the value of LTL 30 million and borrowed LTL 12.6 million. During the month, the redemption value of the Treasury bills made up LTL 117.208 million, of savings bonds – LTL 1.642 million and of securities issued under special laws - LTL 0.5 thousand. The repayments of loans to creditors amounted to LTL 92.7 million. Due to changes in exchange rates the debt decreased by LTL 23.4 million.

Total long-term central government debt amounted to LTL 11,035.2 million, or 96% of total debt;  short-term debt made up LTL 457.5 million, or accounted for 4% of total debt.