Spectator on facebook

Spectator on facebook

ECONOMIC BRIEFS

Slovakia reports $12.05 billion gross foreign indebtedness in January

Slovakia's gross foreign indebtedness was $12.048 billion at the end January 1999, up from $11.902 at the end of December, 1998.

The official indebtedness of the Slovak government and the central bank was $2.432 billion, while the commercial sector (business entities and commercial banks) accounted for $9.514 billion, Pavol Kyjac of the National Bank of Slovakia (NBS) FOREX Liabilities Department said on May 7.

Kyjac explained the January increase as a result of the new methodology of declaring foreign debt that the NBS had been using since January 1. According to the new method, Slovak crown debts held towards non-residents (banks), government bonds and T-Bills owned by non-residents are included in calculations of Slovakia's foreign debt. The short-term deposit operations of the NBS are also included under the category of short-term foreign debt.

Within the structure of total gross foreign indebtedness, total mid- and long-term foreign liabilities equaled $7.185 billion, while total short-term debt accounted for $4.863 billion.

The total gross foreign debt per capita was $2,236. The share of total short-term debt of the total gross foreign debt of the country equaled 40.37%, down 1.68% in January 1999 compared with December 1998.

Top stories

In praise of concrete

It was once notorious for its drab tower blocks and urban crime, but Petržalka now epitomises modern Slovakia.

Petržalka is the epitome of communist-era architecture.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Blog: Exploring 20th century military sites in Bratislava

It seems to be the fate of military sites and objects in Bratislava that none of them were ever used for the purposes they were built for - cavernas from WWI, bunkers from WWII, nuclear shelters or the anti-aircraft…

One nuclear shelter with a capacity for several hundred people now serves as a music club with suitable name Subclub (formerly U-club).