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In February Successful Eurobonds Issue Gave Rise to Central Government Debt

Date

2005 04 01

Rating
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Vilnius, April 1, 2005. According to the data presented by the Ministry of Finance, in February central government debt* increased by LTL 443.9 million and in end-month made up LTL 12.1 billion, i.e. accounted for 18.2 % of the projected GDP for 2005.

Major factors that influenced the change in the rate of central government debt were issue of EUR 600 million Eurobonds and redemption of EUR 325 million Eurobonds in 2000.

During February central government domestic debt narrowed by LTL 624.4 million and in end-month made up LTL 3,682.3 million (i.e. represented 30.3 % of total central government debt). Long-term domestic debt liabilities amounted to LTL 3,570.2 million, short-term liabilities – LTL 112.1 million. Central government was indebted to internal creditors: financial sector – LTL 2,860.6 million, non-financial sector – LTL 425 million, other creditors – LTL 396.7 million.

During the month central government foreign debt increased by LTL 1,068.3 million and on 28 February made up LTL 8,455.3 million (i.e. represented 69.7 % of total central government debt). In end-month central government was indebted to foreign creditors: international organisations – LTL 918.8 million, foreign government institutions – LTL 197.9 million, other creditors (commercial banks and financial institutions) – LTL 7,338.6 million.

In end-February total long-term central government debt amounted to LTL 11,875.1 million, or accounted for  97.8 %  of total debt; short-term – LTL 262.5 million, or represented 2.2 % of total debt.

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*Government and extra-budgetary funds debt