Samoa’s outstanding external debt at the end of the fiscal year 2022/23 stood at $852.6 million.
Total loans based on multilateral agreements amounted to $469.0 million, accounting for 55.0 percent of total external loans, and the rest were loans borrowed based on bilateral relations, totaling $383.0 million.
This is outlined in the Samoa Bureau Statistics latest report on Government finances. The domestic debt or loans to domestic financial institutions total before the last day of the fiscal year was $0.5 million.
Loans to international financial institutions and organizations (multilateral) were reduced by $16.4 million in the last twelve months.
Notable reductions of $7.8 million and $8.7 million to loans to the Asian Development Bank (ADB) and the World Bank was the biggest contributing factor.
Similarly, loans to the PRC Government (People’s Republic of China) went down significantly by $70.4 million from last year, and loans to the Government of Japan through JICA were also reduced by $8.0 million compared to 2021/2022 level to stand at $8.0 million for the current review.
