OREANDA-NEWS The external debt of the Russian Federation in the first quarter of 2023 decreased by $22.6 billion, or 5.9%, to $357.9 billion, according to information posted on the website of the Central Bank of the Russian Federation.

The level of external debt of the Russian Federation on April 1, 2023 became the lowest in 16 years, since April 1, 2007, when it amounted to $ 355.6 billion.

The Central Bank's commentary says that to a large extent the dynamics was determined by a reduction in the external debt of other sectors in terms of attracted loans, including within the framework of direct investment relations.

The external debt of other sectors decreased by $15.9 billion, or 6.6%, to $225.1 billion in the first quarter.

The external liabilities of the Russian Federation in 2022 decreased by $101.8 billion, or 21.1%, from $482.4 billion mainly due to a decrease in the volume of long-term loans attracted by other sectors, including in the framework of direct investment relations, as well as a reduction in non-resident funds placed in accounts with Russian banks.