The total debt of BiH, which is included in the “Medium-Term Strategy of Debt Management of BiH” amounted to 10.775 billion BAM at the end of 2015, which represents a total of 36.7 % of GDP.
As stated in the document, the foreign debt makes 77.5 % of the total debt, and the internal debt makes 22.5 %. The share of the debt contracted at a fixed interest rate makes 60.9 % of the total debt, while the share of the debt contracted at a variable interest rate is 39.1 %.
External debt mostly consists of obligations to multilateral creditors (77.6 %), and almost half of the foreign debt is contracted at a variable interest rate.
Internal debt consists of the market and non-market instruments: treasury bonds, treasury bills, loans from commercial banks in the country, and bonds that are issued for the settlement of obligations from old foreign currency savings and war claims.
The FBiH is issuing treasury bills and bonds on the Sarajevo Stock Exchange, the RS in Banja Luka Stock Exchange, while bonds of District Brcko are issued on both Sarajevo and Banja Luka Stock Exchange. Treasury bonds have maturities from 1 to 10 years.
State of the public debt of BiH amounted to 11.949 billion BAM in 2015, and the Medium-term strategy of debt management of BiH includes debt that represents direct or indirect obligations of institutions of BiH, entities and District Brcko, which makes 10.775 billion BAM, or 90.2 % of the public debt of BiH.
The National Strategy represents the consolidation of the Medium-term strategy of debt management of the RS, the FBiH and Brcko District of BiH, including a foreign debt of institutions of BiH.
The Ministry of Finance and Treasury of BiH will apply guidelines that are defined by the Medium-term strategy of debt management of BiH during future external borrowing.
(Source: fokus.ba)
