Moldova’s gross external debt surged by 9.1% compared to its 2022 year-end, reaching US$10.465.65 billion by December 31, 2023. This translated to a gross external debt-to-GDP ratio of 63.3%, marking a 2.8 percentage point decrease from the previous year’s. Preliminary data, unveiled by the National Bank of Moldova, unveiled these figures.
Public external debt constituted 36.5%, amounting to US$3.820.52 million—a 17.1% increase over 2022. Meanwhile, private external debt stood at US$6,645.13 million, reflecting a 5% increase over the same period.
Long-term debt comprised 71% of the external debt balance, experiencing an 8.8% uptick compared to the end of 2022. Conversely, short-term external debt rose by 9.9% by December 31, 2023, making up 29% of the total.
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“The analysis of key external debt indicators underscores a consistent reliance on favorable external financing, manifested indirectly through the quarterly average interest rate on external debt in the form of loans and SDR allocations,” stated the National Bank of Moldova.
As of the previous year’s close, the International Monetary Fund (IMF) emerged as the primary creditor, holding 30.8% of the total public debt (equivalent to $1,178.10 million). Following closely was the World Bank Group, with a 28% share. Moldova’s debts to the International Development Association and the International Bank for Reconstruction and Development amounted to US$808.07 million and US$261.06 million, respectively. Additionally, the state owed US$449.9 million to the European Investment Bank, representing 11.8% of the total public debt.