Central Bank of Russia raises foreign debt estimate for July 1 by $5.2 bln to $490.7 bln
MOSCOW. Sept 28 (Interfax) - Russia's external debt was $490.697 billion on July 1, 2018, having fallen by $29.494 billion or 5.7% during Q2 from $520.191 billion, the Central Bank of Russia (CBR) said in information posted on its website.
The CBR previously estimated the debt at $485.5 billion on July 1, so it has raised its estimate by $5.2 billion.
The decline in debt was caused by the "cumulative effect of withdrawal of foreign investors' funds from current accounts and deposits in Russian banks, reduction of loans attracted from foreign nonfinancial corporations and also of debt liabilities under sovereign securities denominated in Russian rubles in nonresidents' portfolios," the regulator said.
External debt fell $27.4 billion or 5.3% during H1 2018 from $518.1 billion at the beginning of the year. It rose $2.1 billion during Q1 2018.