Decrease in gross external debt

Norway’s gross external debt amounted to NOK 3 338 billion at the end of the third quarter 2009. This is NOK 193 billion lower than at the end of the second quarter 2009.

The main purpose of the statistics is to fulfil Norway’s obligations with regard to the International Monetary Fund (IMF).

The gross external debt of Norges Bank decreased from NOK 124 billion at the end of the 2nd quarter to NOK 59 billion at the end of the 3rd quarter this year; a decrease of 52 per cent. Reduction of deposit and loan debt after measures aimed at the financial turbulence in autumn 2008 is mostly responsible for the decrease in the debt of Norges Bank. The gross external debt of the general government decreased by 4.5 per cent from the end of the 2nd quarter to the end of the 3rd quarter this year. The banks had the largest share of foreign debt, with NOK 1 325 billion at the end of the third quarter 2009; a reduction from the previous quarter of 1.9 per cent. The external debt of the “other sectors” also decreased during this period by 3.5 per cent, whereas direct investment decreased by 11 per cent.

Read more at Statistics Norway.