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Our Bureau

New Delhi, March 31

The total external debt increased to $230.85 billion at end December 2008, representing a 2.8 per cent increase over $224.65 billion at the end of September.

According to a Finance Ministry report, short-term debt had declined by $3.2 billion in the quarter ended December 2008 to $47.48 billion. The share of short-term debt declined to 20.6 per cent from 22.6 per cent at $50.68 billion as on end September. External commercial borrowings increased by $4.6 billion to $66.16 billion.

ECB’s share in total debt rose to 28.7 per cent from 27.4 per cent at end September 2008.

Following the global financial crisis and the collapse of Lehman Brothers in mid-September, the Government had come up with series of measures to relax the ECB norms even as overseas funds had dried up.

More Stories on : Overseas Borrowings

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