Who does Czechia owe money to?

Who is entitled to principal and interest?

Bondholders are entitled to interest and repayment of principal under the bond's terms. Bonds can be sold, so the creditor may change during their lifetime. The state need not owe the original buyer.

Banks and funds can manage their own money and client money. Their share cannot simply be described as direct household ownership. For funds, also distinguish the institution's residence from its clients' origins.

What is a non-resident?

A non-resident is a holder resident outside the domestic economy under the statistical definition. This is not nationality and does not automatically mean a foreign government. A foreign-owned domestic bank may be counted among domestic banks.

Why does the creditor mix matter?

A diversified investor base can make new issues easier to sell. If a large investor group suddenly changes its appetite, yields and future financing terms may change. Alongside holders, watch currency and maturity: a short-term loan needs replacing sooner than a long-term one.

A domestic holder does not guarantee safety. Interest paid domestically is creditors' income but also public budget expenditure. It is wrong to treat it all as money “lost abroad” or as spending that costs nobody anything.

How to read the chart below

The figures cover government bonds sold on the domestic market at end-2025, as shown in Figure 29 of the Ministry of Finance report. They do not divide up all state debt or all public debt. Earlier and later releases may revise the figures.

Sources and further reading

• Ministry of Finance: 2025 state debt management report, Figure 29 ↗
• IMF: debt sustainability context ↗

Illustrative examples are neither an actual budget nor a personal obligation. For data, use the period and methodology stated beside the table.