Vietnam’s external debt swelled 10.7% year-on-year to $65.46 billion at the end of 2013, equivalent to 40.2% of gross domestic product.
The amounts comprised $54.4 billion in long-term debt, $10.57 billion in short-term debt and $485 million in IMF credit, the Asian Development Bank (ADB
) said in a report released last month.
The nation’s debt service has been rising fast, with principal repayments on long-term debt reaching $4.45 billion in 2014, up from $3.85 billion in 2013 and $3.27 billion in 2014.
Vietnam’s external debt is project to reach 41.5% of GDP at the end of this year, below the permitted limit of 50%, according to a government report read by Vietnamese Prime Minister Nguyen Tan Dung
at a parliament meeting on October 20.