Moldova to repay foreign debts of US$73m in 2010

In 2010, Moldova will have to repay foreign debts of 917 million lei (US$73.2 million). The balance of the external debt at the end of next year will be US$1.19 billion (15.12 billion lei). The foreign debt on December 31, 2010 will constitute about 23.5% of the GDP, up 4.2% compared with the projections for 2009, Info-Prim Neo reports. According to Minister of Finance Veaceslav Negruta, the balance of the external debt will be higher as next year there will raised foreign loans of 3.64 billion lei (US$308 million). The International Monetary Fund will provide US$150 million, the World Bank – US$88 million, the European Bank for Reconstruction and Development - US$11 million, the European Investment Bank – US$16.6 million, the International Fund for Agricultural Development – US$7 million, Poland - US$15 million. All the loans will go to finance investment projects and to support the state budget in 2010. A sum of 917 million lei (US$73.2 million) was earmarked for servicing the foreign debt next years, as against 776 million lei (+18%) in 2009. Under the draft state budget law for 2010 approved by the Government, the balance of Moldova's state debt on December 31, 2010 will be 20.4 billion lei, up 3.8 billion lei from December 31, 2009. At the end of next year, the state debt will make up 31.8% of the GDP, a 3.9% increase compared with this yearend. The foreign debt will constitute 74% of the state debt, while the internal one - 26%. The Government plans to maintain the state debt within a share of 32% of the GDP.

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