- Sputnik International
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Russian External Debt Dropped by 12% Over the Last Year

© Sputnik / Maksim Bogodvid / Go to the mediabankBanknotes printed at a printing factory of the Federal State Unitary Enterprise “Goznak” in Perm
Banknotes printed at a printing factory of the Federal State Unitary Enterprise “Goznak” in Perm - Sputnik International
The institutional sectors of the Russian economy, as well as other areas have contributed to reducing the country’s external debt, which now has reached a nearly 10-year low.

The Russian Central Bank has reported a significant drop in the level of external debt over the last year. In the course of 2018 it reduced by $64.4 billion or 12.4% when compared to the end of 2017. The total amount of Russia's external debt is now $453.7 billion, which is the lowest level in nearly 10 years.

CalPERS headquarters at Lincoln Plaza in Sacramento. - Sputnik International
California Invests in Russian Sovereign Debt Despite Looming Sanctions – Reports

Both institutional and non-institutional sectors of the Russian economy have contributed to the drop by reducing their external financial obligations, the Central Bank noted.

Russia's external debt has been consistently dropping since 2014, when Western sanctions against the country's entities were first introduced. The sanctions have limited Russian banks' ability to get long-term credits abroad and have led to a shift in Russian imports. Some of the goods coming from Western states have either been replaced by domestic products or by imports from other countries not part of the sanctions regime.

To participate in the discussion
log in or register
Заголовок открываемого материала