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    Russia's foreign debt grows 48% to $460 bln in 2007

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    Russia's foreign debt calculated by international methodology increased 48% year-on-year in 2007 to $459.6 billion, the Central Bank said on Monday.

    MOSCOW, April 7 (RIA Novosti) - Russia's foreign debt calculated by international methodology increased 48% year-on-year in 2007 to $459.6 billion, the Central Bank said on Monday.

    Russia's foreign debt grew in the reporting period largely due to private-sector borrowing, the Central Bank said.

    The foreign debt of Russia's government declined from $44.7 billion as of January 1, 2007 to $37.4 billion as of January 1, 2008 while the foreign liabilities of Russia's monetary authorities increased from $3.9 billion to $9.0 billion, the Central Bank said.

    State-controlled banks increased their foreign liabilities from $41.4 billion to $65.5 billion and other government sectors from $45.4 billion to $75.1 billion in 2007, the Central Bank said.

    At the same time, the private sector's foreign debt bill climbed 55.7% to $272.6 billion.

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