External debt stock reached US$170.1 billion as of the end-2005, representing 47% of GNP, according to data of the treasury. The stock had stood at US$ 162.2 billion as of end-2004, and reached US$166.8 billion as of end-Q3 of 2004. The short-term external debt represented 22.5% of the overall stock at end-2005, while the remaining part is composed of medium &long-term debt. It should also be noted that the debt of private sector has the largest share in overall external debt stock with 51.1% and it is followed by the public sector with 39.8% share.

The debt of central bank corresponds to 9.1% of the overall stock. In medium and long-term debt, the central government has the largest share as it has US$ 63.9 billion debt, US$30.8 billion of which is steaming from Eurobond issues. The debt of the central bank and the private sector are US$12.7 billion and US$51.5 billion respectively. The external debt of the country declined by US$9.4 billion in 2005 due to the exchange rate fluctuations and the appreciation of the U.S. dollar against the EUR; the SDR played the main role here.