At the end of June 2021, Albania's Gross External Debt (GED) amounted to EUR 8,811 million, according to the Bank of Albania report.
During the second quarter, GED's stock narrowed by about euro 54 million (or 1%), reflecting the negative net value of the transaction, of euro -38 million. At the same time, the estimated effect of the depreciation of the USD and GBP currencies against the EUR had an impact on the depreciation of the liabilities denominated in these currencies by EUR -18 million. Meanwhile, other changes from the re-classification are estimated positive at around +1.3 million euros.
Gross External Debt to GDP ratio decreased from 66.6% to 63.7%. The performance of GED surplus during the quarter shows the contraction of external debt (mainly public debt1) in the long run. In the second quarter, the repayments of long-term loans were higher than the withdrawals of new loans to the General Government.
Public creditors hold the largest share (40%) of long-term external debt surplus. Foreign bank holdings in government Eurobond account for about 11% of GED long-term.
Private creditors have maintained the same levels in lending activity and at the end of June 2021 hold about 11% of GED surplus in long-term maturity. The long-term liability between companies related to a direct investment relationship, maintains a level of about 18% of total external debt and at the end of June 2021 amounted to 1,391 million euros.