India's external debt at $617.7 billion

30 Sep 2022 , 08:48 AM

India’s external debt was assessed at $617.1 billion by the end of June 2022, stated a press statement on Thursday. It has seen a drop of $2.5 billion from where it was at the end of March 2022.

The external debt to GDP ratio declined to 19.4% at the end of June 2022. It stood at 19.9% at end of March 2022.

Press release: “Excluding the valuation effect, external debt would have increased by US$ 11.9 billion instead of a decrease of $2.5 billion at end-June 2022 over end-March 2022. Value gains due to the appreciation of the US dollar vis-à-vis the Indian rupee and major currencies such as yen, SDR2, and euro were placed at $14.4 billion.”

Additionally, at the end of June 2022, the proportion of short-term debt to foreign exchange reserves rose to 22.0%. (20.0% at end-March 2022).

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