Foreign debt in Q2 2009 drops to 1.47 billion crowns

The Czech Republic’s foreign debt dropped in the second quarter of 2009 by 17.9 billion crowns to 1.47 trillion crowns, or more than 85 billion US dollars, according to figures released by the Czech central bank on Wednesday. The debt accounted for around 40 percent of the country’s GDP. Central bank officials said the drop was caused by a decrease in obligations of the banking and commercial sectors, as well as by the strengthening Czech crown.