Domestic and international debts both increase in first quarter of 2002

The total indebtedness of the State rose in March by zl. 7.2 million to zl. 309.4 billion. The domestic debt increased by 3.1% to zl. 205 billion, while international debt grew by 2.8% to zl. 104.4 billion or $25.3 billion. The r ise in debts abroad is mainly due to massive bond issues overseas of $665.7 million, as well as the depreciation of the dollar against other currencies in which part of the debt is denominated. Nearly $120 million in foreign lia bilities have been repaid. In terms of domestic indebtedness, the number of treasury bills increased against long-term bonds, pushing the average period until maturity down from 2.6 to 2.52 years. (Rzeczpospolita, p. B5) M.K.