ENA Economy 2024-12-05 15:51:09 <p><strong>New Delhi, Dec 5 (KNN) </strong>In its latest International Debt Report, the World Bank has detailed significant developments in India's external financial landscape for the year 2023. </p> <p>The report indicates that India's total external debt has expanded by USD 31 billion, reaching USD 646.79 billion, marking a notable increase in the country's international financial obligations.</p> <p>The comprehensive analysis reveals a substantial rise in interest payments, climbing from USD 15.08 billion in 2022 to USD 22.54 billion in 2023. </p> <p>This increase reflects the growing cost of servicing external debt for the Indian economy. </p> <p>Long-term debt stocks experienced a 7 per cent growth, rising to USD 498 billion, while short-term debt stocks showed a slight decline to USD 126.32 billion during the same period.</p> <p>Examining the debt metrics, the World Bank report highlighted that external debt stock as a percentage of exports stood at 80 per cent, with debt servicing accounting for 10 per cent of exports in 2023. </p> <p>These figures provide insights into the country's debt management and economic resilience.</p> <p>Financial inflows present a mixed picture, with net debt inflows recorded at USD 33.42 billion. </p> <p>Notably, net equity inflows were more robust, registering at USD 46.94 billion for the year. </p> <p>This data suggests ongoing international confidence in India's economic potential and investment environment.</p> <p>The report offers a nuanced view of India's external financial position, underscoring the complex dynamics of global economic interactions and debt management strategies.</p> <p><strong>(KNN Bureau)</strong></p> 40153 https://knnindia.co.in/news/newsdetails/economy/indias-external-debt-rises-to-usd-64679-bn-in-2023-world-bank 2024-12-05 15:51:09 knnindia.co.in