The total gross foreign debt of the Slovak Republic was USD 12.2 billion at the end of October 2002, up USD 318.6 million in one month. Since the beginning of the year, foreign debt increased by USD 819.2 million. Long-term debt reported a monthly decrease, while short-term foreign debt grew over October, according to a report by the National Bank of Slovakia (NBS).

The total long-term foreign debt dropped by USD 48.8 million in one month to stand at USD 8.545 billion in late October. Official debts of the Slovak government and the central bank decreased by USD 127.8 million to USD 3.558 billion while settlement of a fiduciary loan of the National Property Fund of EUR 100 million was behind the drop. In October the commercial sector posted a growth in corporate entities‘ long-term foreign debt, rising USD 61 million to USD 4.832 billion. Commercial bank’s long-term foreign debt was USD 155.9 million.

Slovakia’s short-term foreign debt stood at USD 3.654 billion at the end of October, up USD 367.4 million over the month. Short-term liabilities of the commercial sector swelled by USD 161.6 million to USD 849 million. On the other hand, short-term liabilities of corporate entities increased by USD 121.3 million to USD 2.701 billion. Short-term liabilities of the government and the NBS grew from USD 19.6 million in September to USD 104.1 million.

Total gross foreign debt per capita was USD 2,268, compared with USD 2,095 in December 2001. Short-term debt accounted for 29.95 percent of Slovakia’s total foreign debt, up 2.28 percentage points from September.