Bulgaria's sovereign foreign debt fell to €4.4 billion ($5.8 billion) at the end of February on loan repayments.
The Balkan country's foreign debt fell from €4.7 billion in January, the Finance Ministry said today in an e-mail. The state repaid investment loans of some €300 million during the month. Bulgaria joined the EU in January, and needs to keep its public debt burden below 60% of GDP. The state-guaranteed debt, comprising the government's domestic and foreign debt, accounted for 22.4% of GDP in February after 23.7% in January, declining to €5.86 billion from €6.1 billion in January. The government sold 65 million lev ($44 million) of government bonds in two auctions in February, the ministry said.
Bulgaria's Global debt and Eurobonds were 43.9% of the total state-guaranteed debt, loans from the World Bank comprised 16.7%, IMF loans represented 5.5% and EU loans accounted for 4.6%, the ministry said. (Bloomberg)