Russian external debt contracts by $8.5 bln to $293.4 bln in Q3 - Central Bank

MOSCOW. Oct 11 (Interfax) - Russia's external debt contracted by $8.5 billion, or 2.8%, to $293.4 billion in the third quarter of 2024, the Central Bank posted on its website.

The debt fell $16 billion or 5% in H1 2024 from $317.9 billion on January 1, 2024. In 9M 2024 it fell $24.5 billion or 7.7% to the lowest level since October 1, 2006, when it stood at $269.5 billion.

The drop was largely influenced by the reduction of the debt of other sectors on raised loans, including in the framework of direct investment relationship, the Central Bank said.

The debt of other sectors fell $11.1 billion or 6.5% in Q3 to $160.9 billion and fell $29.5 billion or 15.5% in 9M 2024, from $190.4 billion at the start of the year.

Government debt fell $1.3 billion or 4% in Q3 to $31 billion and $1.8 billion or 5.4% in 9M from $32.7 billion at the start of the year.

Banking sector debt rose $4 billion or 4.1% in Q3 to $101.5 billion and rose $6.8 or 7.1% in 9M, from $94.8 billion on January 1.