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Bulgarian January sovereign foreign debt rises to €4.7 bln

Bulgaria's sovereign foreign debt rose to €4.7 billion ($6.18 billion) at the end of January on new loans and exchange-rate fluctuations.

The Balkan country's foreign debt rose from €4.68 billion in December, the Finance Ministry said today in an e-mail. The debt fell by €392 million from January 2006. The state repaid investment loans and got new lending of around €2 million. 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 23.7% of GDP in January, declining to €6.09 billion from €6.17 billion in December. The government sold 85 million lev ($57 million) of government bonds in three auctions in January, 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)