BH Foreign Debt KM 4, 13 Billion

According to the government foreign debt statistics for Bosnia and Herzegovina (BH), which the Central Bank of Bosnia and Herzegovina (CBBH) today released for the first time, Government foreign debt at end of March 2004 was KM 4, 13 billion. These statistics were produced on the basis of international statistical standards.

These statistics cover the stock of foreign debt of BH governments at the end of the years 1999 to 2003 and at the end of March 2004, together with undisbursed debt (borrowings not yet drawn) at end March 2004. The statistics include not only the debt for which the State is responsible but also identified direct borrowings by entity governments.

Government external debt at the end of 2003 represents about 24% of gross domestic product (GDP) including the nonobserved economy. This percentage of debt has declined progressively over the period.

International and regional organizations account for two-thirds (65,8%) of outstanding BH government foreign debt at end March 2004, foreign governments and their agencies hold 27,9% and private creditors account for only 6,3%.

The largest component of debt to have risen over the period is World Bank - IDA loans, which are on concessional terms.

The data on foreign debt were derived from the debt database of the Ministry of Finance and Treasury of Bosnia and Herzegovina and the CBBH Governor Peter Nicholl thanked the Ministry for their cooperation in this task.

A summary table of the statistics is attached. More details will shortly be placed on the CBBH website (www.cbbh.ba) together with some notes on sources and methods. In future quarterly data will be provided on the Central Bank website.