The total Government outstanding debt of $910.6 million for September 2022 quarter decreased by $96.3 million (or 9.6 percent) compared to the September 2021 quarter.
This is according to the Samoa Bureau of Statistics’ quarterly report on finances.
“It consists of external loans amounting to $909.2 million representing 99.9 percent of debt by the government; the remaining $1.3 million (or 0.1 percent) were monies loaned from domestic financial institutions Loans granted based on Multilateral agreement aggregated to $481.1 million declining by $27.9 million (or 5.5 percent) when compared to the September quarter of 2021.
“The majority of multilateral borrowings were from the World Bank and the Asian Development Bank (ADB) amounting to $276.3 million and $182.7 million respectively.
“Both borrowings from these institutions went down by $10.1 million (or 3.5 percent) and $16.3 million (or 8.2 percent) on a year-on-year basis.
Loans based on Bilateral agreements such as agreements with the Government of the Peoples’s Republic of China (PRC) and Japan (JICA) recorded a combined amount of $428.1 million.
“This was equivalent to a decrease of $66.0 million (or 13.4 percent) when compared to the September quarter of 2021.
“Total outstanding Domestic debt amounted to $1.3 million, decreasing by $2.4 million (or 63.8 percent) in comparison to the September 2021 quarter. Domestic Debt went down by $0.3 million (or 16.1 percent) when compared to the previous quarter June 2022. Chart 5 shows the trend in the last 10 consecutive quarters for the three debt categories.”
