Czech foreign debt decreased by over 64 billion to 2.15 trillion crowns in the first quarter of the year compared to the previous quarter, according to figures released by the Czech National Bank on Friday. Year on year, however, the debt rose by some 151 billion and now amounts to 54.8 percent of the country’s gross domestic product. The quarterly decrease is due to Czech banks’ repaying of some of their foreign debt in the final quarter of last year, the central bank said. Foreign debt of the private sector also decreased but the public sector’s exposure, which represents some 30 percent of the debt, rose due to the government’s bonds sold to foreign investors.
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