The Bank of Russia estimated actual payments of external debt in I–II quarters 2020

Net payments on the external debt of the Russian non-financial organizations in the first quarter of 2020 can be 11.5 billion US dollars (by 14% higher than in the first quarter of 2019), and in the second quarter of 2020 13.2 billion USD (3% lower than in the II quarter of the previous year) according to the ratingpublished on the website of the Bank of Russia.

Assessment of the actual payments on external debt differs from the data of macroeconomic statistics on the amount of intercompany charges, as defined in 40 Russian companies from among the largest borrowers in foreign markets. Such payments typically have a high probability of rollover and refinancing.

According to the data of macroeconomic statistics in the I and II quarters 2020 payments on the external debt of non-financial organizations, including principal and interest, will amount to 11.5 and 13.5 billion USD, respectively.

Several large in comparison with other months under review, net payments in April associated with the planned repayment of public borrowings in the form of Eurobonds, a number of large non-financial organizations that have, according to our estimates, sufficient supply of foreign exchange liquidity for the execution of the debt.

27 Jan 2020