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INDIA'S EXTERNAL DEBT FALLS TO US$119.2 BLN.

AsiaPulse News

| April 03, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, April 3 Asia Pulse - India's external debt declined by US$5 billion to US$119.2 billion at the end of December 2005 from the previous quarter ending September following the redemption of India Millennium Deposits (IMD).

The four per cent decline in external debt from US$124.2 billion during September-end 2005 was due to a drop in external commercial borrowings, reflecting IMD redemption by the country's largest bank State Bank of India in December.

Of the total external debt, long-term debt fell US $5.4 billion to US $110.26 billion while short term rose by US $533 million to US $8.9 billion in December-end, according to official statistics.

The external debt to GDP ratio has further dropped to 17.3 per cent as of March-end 2005 from 17.8 ...

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Source: HighBeam Research, INDIA'S EXTERNAL DEBT FALLS TO US$119.2 BLN.

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