Russia’s External Debt Drops to $304B in Q1 2024 – Central Bank

Russia’s overseas debt fell by $12.8B, or 4.1%, to $304B in the first quarter of 2024, according to a statement on the Central Bank’s website.

As of April 1, 2024, the country’s external debt reached its lowest level since October 1, 2006, standing at $269.5B, as reported by Russian news agency Interfax.

The Central Bank’s analysis attributes the Q1 2024 decline primarily to a reduction in loan obligations across various sectors, particularly in relation to direct investments.

In the first quarter, the external debt of other sectors within the Russian economy decreased by $8B, or 4.2%, to $181.4B.

The debt of the Russian Central Bank and the banking sector also saw a decline of $4B, or 4.2%, amounting to $90.8B.

Government debt decreased by $0.9B, or 2.8%, during the quarter, reaching $31.8B.

Russia’s external liabilities saw a significant decrease in 2023, amounting to $68.2B, or 17.7%, down from $385.1B, according to WAM.

Source: Trade Finance