RPT-FACTBOX-Short term debt exposure in Central and East Europe

                                
 (Repeats story published late on Wednesday)
                                
 May 6 (Reuters) - The International Monetary Fund said on
Wednesday it was correcting figures it published in April on
financing needs of eastern European countries, largely because
of double-counting errors.
                                
 Economists agree short-term financing needs are the linchpin
of economic stability in Eastern Europe, but pinning down
accurate figures has at times frustrated banks and international
institutions alike.
                                
 Bankers and policymakers have tried to quash alarming
reports that sparked a selloff across emerging Europe at the
start of the year by saying the region was in hock to Western
banks by up to 1.7 trillion euros.
                                
 The European Bank for Reconstruction and Development said
the figure was "nonsensical," pointing out that it was just the
size of the overall balance sheet of the region's foreign owned
banks, not exposure to debt.
                                
 A better figure, it said, was the 130 billion euros owed by
sovereigns and banks in the region -- excluding Russia and
Kazakhstan -- through this year.
                                
 Following are figures of debt due to be paid to BIS
reporting banks by the end of the third quarter, including
international debt securities. Also included are central bank
foreign currency reserves at the end of March for countries in
central and Eastern Europe.
                                
 The figures, taken from the Joint External Debt Hub website,
do not exactly match those issued in the International Monetary
Fund's Global Financial Stability report issued in April, as
they only include sums owed to BIS reporting banks.
                                
 But analysts say they are a good approximation of the
external positions of the emerging countries.
                                
               SHORT TERM  CBANK FOREX       RATIO
                                
                     DEBT*     RESERVES     DEBT/RESERVES
                                
                    ($bln)      ($bln)          (pct)
 1. Bulgaria           11.780       16.08           73.3
 2. Croatia            18.080       11.88         152.18
 3. Czech Republic     19.886      36.854           54.0
 4. Estonia             6.499        3.55          183.1
 5. Hungary            32.974       37.74 ***       87.4
 6. Latvia             10.990        4.52          243.1
 7. Lithuania           6.069        4.99          121.6
 8. Poland             35.202       61.79           57.0
 9. Romania            38.827       32.96          117.8
10. Russia            101.395       380.6           26.6
11. Serbia              7.246        10.7           67.7
12. Ukraine            20.052        25.4           78.9
  * Latest available data (Q3, 2008) data taken from Joint
External Debt Hub database jointly developed by the Bank for
International Settlements, the International Monetary Fund, the
Organisation for Economic Cooperation and Development, and the
World Bank. They include short-term international debt
securities, and short term liabilities to BIS banks.
  ** Reserves data taken from national banks' latest figures.
  *** Reserves increased from $22.69 in October, 2008, after
government converted IMF-led bailout package through the central
bank, boosting reserves.
  (Reporting by Michael Winfrey; Editing by Diane Craft)