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Global
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External Debt of Developing Countries
Global
Development
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External Debt of Developing Countries
Global
Development
Finance
External Debt of Developing Countries
2011
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ISBN: 978-0-8213-8673-6
eISBN: 978-0-8213-8674-3
DOI: 10.1595/978-0-8213-8673-6
ISSN: 1020-5454
Table of Contents
v
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
vi vi
Preface
T
he World Bank’s Debtor Reporting System Steps are continuously being taken to ensure
(DRS), from which the aggregates and that the data captured by the DRS mirror these
country tables presented in this report are developments and respond to the needs of debt
drawn, was established in 1951. The debt crisis managers and analysts. In this context, reporting
of the 1980s brought increased attention to debt requirements are periodically amended to reflect
statistics and to the World Debt Tables, the prede- changes in borrowing patterns. Many develop-
cessor to Global Development Finance. Now the ing countries increasingly rely on financing raised
global financial crisis has once again heightened in domestic markets, so we are exploring ways to
awareness in developing countries of the impor- expand the coverage of public sector borrowing in
tance of managing their external obligations. domestic markets. At the same time, we are mindful
Central to this process is the measurement and that expanded coverage and efforts to enhance data
monitoring of external debt stocks and flows in a accuracy and timeliness must be balanced against
coordinated and comprehensive way. The initial the reporting burden imposed on developing coun-
objective of the DRS was to support the World tries. Bringing modern technology to bear reduces
Bank’s assessment of the creditworthiness of its reporting costs. In partnership with the major pro-
borrowers. But it has grown as a tool to inform viders of debt data management systems to devel-
developing countries and the international com- oping countries, the Commonwealth Secretariat
munity of trends in external financing and as a (COMSEC) and the United Nations Conference on
standard for the concepts and definitions on which Trade and Development (UNCTAD), we have estab-
countries can base their own debt management lished standard code and system links that enable
systems. countries to provide their DRS reports electronically,
Over the years, the external financing options in a seamless and automated data exchange process.
available to developing countries have evolved and We recognize that robust debt data and good
expanded, and so too has the demand for timely debt management go hand in hand, and the World
and relevant data to measure the activity of public Bank, together with its partners, is committed to
and private sector borrowers and creditors. Recur- improving the capacity of developing countries
rent debt crises caused by adverse global economic to manage their debt. We are also committed to
conditions or poor economic management have maintaining the DRS as a rich source of informa-
demanded solutions, including debt restructur- tion. All the relevant data and information are
ing and, in the case of the poorest, most highly available to you from the World Bank’s Open
indebted countries, outright debt forgiveness, Data site at http://data.worldbank.org/. We wel-
formulated on the basis of detailed and robust come your comments and suggestions to ensure
information on external obligations. that our data meet your needs.
Shaida Badiee
Director, Development Data Group
vii
Acknowledgments
T
his volume and its companion volume, Remittances unit provided worker remittances
The Little Data Book on External Debt, and compensation of employee data. The over-
were prepared by the Financial Data Team view of current developments was prepared by
of the Development Data Group (DECDG), led Malvina Pollock in consultation with the staff of
by Ibrahim Levent under the supervision of Eric DECDG, and country economists reviewed the
Swanson and Neil James Fantom, and compris- data. The work was carried out under the man-
ing Nanasamudd Chhim, Shelley Fu, Akane agement of Shaida Badiee.
Hanai, Hiroko Maeda, Gloria Moreno, Evis The production of this volume was managed by
Rukaj, Yasue Sakuramoto, Makiko Sano, Rubena Azita Amjadi, with the assistance of Alison Kwong
Sukaj, Alagiriswamy Venkatesan, and Mizuki and Vera Wen. The CD-ROM and online database
Yamanaka, working closely with other teams in were prepared by Buyant Erdene Khaltarkhuu and
the Development Economics Vice Presidency’s William Prince, with technical support from Shelly
Development Data Group. The team was assisted Fu, Vilas K. Madlekar, Abarna Gayathri Manickudi
by Awatif H. Abuzeid, Rosario Alipio, and Premi Panchapakesan, Sujay Ramasamy, and Malarvizhi
Rathan. The system support team was led by Veerappan. The cover was designed by Jomo Tariku.
Abdolreza Farivari; Soong Sup Lee provided the Staff members from External Affairs coordinated
macroeconomic data, and the Migration and the publication and dissemination of the book.
ix
.
Overview
Financial Flows to Developing (which were mostly trade related). Both foreign
Countries: Trend in 2009 direct investment (FDI) flows and bank lend-
Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net private and official inflows 212.6 154.4 262.4 342.2 464.8 610.2 1,110.5 743.9 597.8
Percentage of GNI 3.7 2.7 3.9 4.3 4.9 5.5 8.0 4.5 3.7
Net equity inflows 165.5 162.5 178.8 243.6 341.1 451.0 643.2 533.9 462.2
Net FDI inflows 158.8 154.3 152.5 206.7 273.6 343.3 508.1 587.1 354.1
Net portfolio equity inflows 6.7 8.3 26.3 36.9 67.5 107.7 135.1 53.2 108.2
Net debt flows 47.2 8.1 83.6 98.6 123.7 159.2 467.3 209.9 135.5
Official creditors 31.0 6.7 11.9 24.1 64.0 69.6 0.0 27.8 76.4
World Bank 7.4 0.5 2.5 2.4 2.7 0.2 5.2 7.3 17.7
IMF 19.5 14.2 2.4 14.7 40.2 26.7 5.1 10.0 26.5
Other official creditors 4.1 7.0 11.8 11.8 26.6 42.6 0.0 10.6 32.2
Private creditors 16.2 14.8 95.5 122.7 187.7 228.8 467.3 182.1 59.1
Net medium- and long-term
debt flows 3.2 1.7 38.3 69.8 113.2 144.9 283.1 196.1 52.7
Bonds 15.5 11.1 23.1 34.3 48.2 31.7 88.2 24.1 51.1
Banks and other private
creditors 18.7 12.8 15.2 35.5 65.0 113.2 194.9 172.0 1.6
Net short-term debt flows 19.4 13.1 57.2 52.9 74.5 83.9 184.2 14.0 6.4
Change in reserves ( increase) 81.5 165.3 288.1 395.3 404.6 634.2 1,083.7 452.7 673.8
Memorandum items
Official grants excluding technical
cooperation 28.4 33.1 44.7 52.1 56.9 106.9 76.1 86.4 95.0
Worker remittances 93.8 109.9 136.8 158.6 190.6 225.3 277.2 323.5 305.2
Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD.
Note: Grants are World Bank staff estimates.
1
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Figure 1. Net Equity Flows to Developing Figure 2. Net Foreign Direct Investment Inflows
Countries, 2001–09 to Major Recipients, 2008–09
$ billions $ billions
700
China
600
Russian
500 Federation
Brazil
400
India
300
200 Mexico
100 Turkey
0 Kazakhstan
–100 Chile
2001 2002 2003 2004 2005 2006 2007 2008 2009
0 50 100 150 200
Net FDI inflows Net portfolio equity inflows
2008 2009
Sources: IMF and World Bank staff estimates.
Sources: IMF and World Bank staff estimates.
(table 1 and figure 1). FDI inflows fell to $354 bil- Table 2. Net Inflows of Portfolio Equity: Top 10
lion from $587 billion in 2008—the sharpest drop Recipients
$ billions
in 20 years, with all of the largest recipients of FDI
seeing net inflows decline. China, the largest recip- Country 2005 2006 2007 2008 2009
ient of FDI inflows among developing countries, Brazil 6.5 7.7 26.2 7.6 37.1
experienced a 47 percent drop in FDI inflows in China 20.3 42.9 18.5 8.7 28.2
2009, to an estimated $78 billion, partly because India 12.2 9.5 35.0 15.0 21.1
of high disinvestment in the financial sector (figure Indonesia 0.2 1.9 3.6 0.3 0.8
2). The story was repeated in other regions as mul- Mexico 3.4 2.8 0.5 3.5 4.2
tinational firms were hit hard by the global eco- Philippines 1.5 2.5 3.2 1.3 1.1
Russian
nomic recession and financial crisis. Slower global Federation 0.1 6.5 18.7 15.0 2.0
growth squeezed their profitability, and economic South Africa 7.2 15.0 8.7 4.7 9.4
uncertainty and weak global demand reduced Thailand 5.1 5.2 4.3 3.8 1.9
their willingness (and ability) to expand abroad. Turkey 5.7 1.9 5.1 0.7 2.8
Brazil and Mexico saw FDI inflows decline 42
Sources: IMF and World Bank staff estimates.
percent and 51 percent respectively. Inflows to the
Russian Federation were down 50 percent, and from the net outflow of $53 billion in 2008, when
in Turkey they dropped by 56 percent. In India, investors retreated from stock holdings in emerg-
the decline was more moderate (16 percent), and ing markets. Brazil recorded the strongest reversal,
the same was true for Chile (down 16 percent) with an inflow of $37 billion in 2009 compared to
and, to a lesser extent, Kazakhstan (down 20 an outflow of $8 billion in 2008. Other countries
percent). In general, energy-oriented FDI was less that saw an important reversal in portfolio flows
affected because many companies with expertise in in 2009 included China ($19 billion increase),
energy exploration still had strong cash positions, India ($36 billion increase), Russia ($17 billion
and falling prices of energy assets in developing increase), and South Africa ($14 billion increase).
countries raised investment attractiveness. As a Portfolio equity flows remain concentrated in
result, countries such as Angola, Azerbaijan, the 10 countries that typically account for about 90
Islamic Republic of Iran, and Nigeria all recorded percent of all portfolio equity flows to developing
increased net FDI flows in 2009. countries (table 2).
In contrast to the fall in FDI inflows, portfolio Debt-related flows plummeted in 2009, fall-
equity inflows turned sharply positive in 2009, ing by 35 percent to $136 billion ($210 billion in
rising to $108 billion—a dramatic turnaround 2008), and their composition changed markedly.
2
O V E R V I E W
Medium- and long-term financing from official Figure 4. Net Private Debt Flows by Creditor Type,
creditors accounted for 56 percent of debt-related 2001–09
flows, compared to just 13 percent in 2008. Debt $ billions
inflows from official sources surpassed those from 250
private creditors for the first time since 2002 (fig-
ure 3). The dominant element was new lending by
200
multilateral creditors, including the International
Monetary Fund (IMF). It constituted almost 90
percent of net inflows from official sources in 150
2009, reflecting increased support to low- and
middle-income countries severely affected by the
100
global financial crisis. The structure of inflows
from private creditors in 2009 was markedly dif-
ferent from the pattern recorded in 2008. Net 50
200
of capital. Debt and equity flows combined fell
66 percent in 2009 to $90 billion, well below
one-quarter of the amount received in 2007 (table
100
3). Net capital inflows to Latin America and the
Caribbean also continued their downward trajec-
0 tory in 2009 but declined only moderately, down
6 percent from their 2008 level. All other regions
–100 enjoyed an increase in net capital inflows in 2009.
2001 2002 2003 2004 2005 2006 2007 2008 2009
In the Middle East and North Africa and in South
Official creditors Private creditors
Asia, net capital inflows rose by 33 percent and
Source: World Bank Debtor Reporting System. 26 percent, respectively, driven by new borrowing
3
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
in the case of the former and almost entirely by or no access to market-based financing. Official
portfolio inflows to India in the case of the latter. grants data for 2009 to be published by OECD
East Asia and the Pacific recorded a small (4 per- in December 2010 are expected to show that
cent) rise in the net inflow of capital in 2009, with grants (excluding technical cooperation grants)
the sharp decrease in the net inflow of FDI offset by rose by an additional 10 percent in 2009, reflect-
increased portfolio flows and by the rise in short- ing donors’ commitment to a substantial increase
term borrowing. In Sub-Saharan Africa, net capital in official development assistance (ODA) to help
inflows were up by 16 percent in 2009, primarily developing countries, particularly those of Sub-
because of the turnaround in portfolio equity flows Saharan Africa, achieve internationally established
to South Africa. However, most countries in the development objectives, including the Millennium
region saw net capital inflows fall in 2009. When Development Goals (MDGs).
South Africa is excluded, the net inflows of capital The recent shift from grants to loans in
to Sub-Saharan Africa were 11 percent lower than financing from official sources is significant. In
the comparable figure for 2008. 2007, grants constituted almost 100 percent of
the combined net inflows of loans and grants
from official bilateral and multilateral sources. By
2009, grants, as a share of the net inflow of offi-
Recent Trends in Financing from cial financing (loans and grants), are estimated to
Official Creditors have fallen to 55 percent. By contrast, net official
Financing 2001 2002 2003 2004 2005 2006 2007 2008 2009
Total 59.3 39.8 32.8 28.0 7.1 37.4 76.1 114.2 171.4
Official grants 28.4 33.1 44.7 52.1 56.9 106.9 76.1 86.4 95.0
IDA 0.0 0.3 0.4 1.1 1.2 1.2 1.9 2.1 2.5
Loans 31.0 6.7 11.9 24.1 64.0 69.6 0.1 27.8 76.4
Bilateral 3.6 8.5 13.9 12.3 31.5 46.2 11.4 2.5 5.6
Multilateral 34.6 15.2 1.9 11.8 32.5 23.4 11.4 30.3 70.8
IBRD 2.4 6.0 7.6 4.0 2.9 5.2 0.3 2.7 11.3
IDA 5.0 5.5 5.0 6.4 5.6 5.0 5.5 4.6 6.5
IMF 19.5 14.2 2.4 14.7 40.2 26.7 5.2 9.9 26.5
4
O V E R V I E W
from the IMF; it increased 14-fold to $28.3 bil- more extensive discussion on the composition of
lion in 2009 ($2 billion in 2007). Disbursements lending by multilateral creditors.)
from the World Bank (the International Bank Every developing country that reports to the
for Reconstruction [IBRD] and the International DRS indicates some inflow of capital from multilat-
Development Association [IDA]) rose 73 percent eral sources. However, multilateral lending is con-
over this period, and this trend was also mirrored centrated in a relatively small number of countries
in the increased level of lending by the regional in each region—particularly in the case of the IMF,
development banks. Collectively, their disburse- whose lending patterns are dictated by the balance
ments have risen 54 percent since 2007 (figure 5). of payment needs of its member countries. In 2009,
The Bretton Woods institutions (IMF, IBRD, 67 percent of IMF purchases were attributable to
and IDA) are the most important source of mul- just three countries: Romania (33 percent), Ukraine
tilateral financing to developing countries around (22 percent), and Pakistan (12 percent). All regions
the globe. Together they accounted for 60 percent have seen a rise in multilateral financing since 2007,
of gross disbursements from multilateral sources but two regions, Europe and Central Asia and Latin
in 2009, up from 44 percent in 2007. However, America and the Caribbean, have been the primary
the regional development banks are a critical com- beneficiaries (figure 6). Together they accounted for
ponent of multilateral financing and are frequently 62 percent of gross inflows from multilateral insti-
the principle source of such financing in the regions tutions in 2009, up from 52 percent in 2008. This
they target. For example, the Inter-American gain came at the expense of other regions, which all
Development Bank (IDB) accounted for 48 per- saw their share of gross multilateral inflows decline
cent of disbursements by multilateral creditors in 2009. South Asia was the most affected: its share
to countries in Latin America and the Caribbean fell by more than 6 percentage points to 12.2 per-
in 2008–09. The World Bank (IBRD and IDA cent in 2009 (figure 7).
combined) share accounted for 40 percent. Dis- Financing from the World Bank Group takes a
bursements by the Asian Development Bank were variety of forms: loans and guarantees from IBRD
equivalent to 43 percent of disbursements from and loans, grants, and guarantees from IDA to the
multilateral creditors to countries in South Asia public sector of the borrowing country; loans and
in 2008–09, almost the same share of the total as equity financing from IFC to the private sector; and
that of IBRD and IDA combined. (See the section investment guarantees from the Multilateral Invest-
titled “Regional Developments and Trends” for a ment Guarantee Agency (MIGA). Financing by
be e
fic
ric h
5
ib th
ric
Af ort
As
ci
ia
an
a
en
Af
ar d
Pa
N
C an
h
C
d
ut
an
d
an
d
So
0
an
ar
an
ic
st
ah
er
ia
e
Ea
As
-S
op
e
r
st
Eu
Su
dl
tin
Ea
id
Source: World Bank Debtor Reporting System. Source: World Bank Debtor Reporting System.
5
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Figure 7. Disbursements by Multilateral Creditors, in 2009 over the comparable figure for 2008. The
Regional Distribution region received almost half of IBRD disbursements
$ billions in 2009. IBRD disbursements to countries in
a. Share of 2008 disbursements (%) b. Share of 2009 disbursements (%)
Europe and Central Asia rose 65 percent in 2009
to $4.7 billion compared to a moderate, 16 percent
10.4 12.7 9.8 10.4 increase in countries in East Asia and the Pacific to
12.2 $3.7 billion. The three remaining regions com-
18.5 bined received $3 billion in IBRD disbursements
26.2
5.8
35.2 in 2009 (13 percent of the total), exceeding the
6.1 comparable figure for 2008 by 55 percent (figure
26.1 26.6 8). Like commitments, IBRD disbursements are
heavily concentrated, with one country, Mexico,
accounting for 22 percent of IBRD disbursements
East Asia and Pacific Europe and Central Asia in 2009 and the top 10 borrowers accounting for
Latin America and the Caribbean Middle East and North Africa 76 percent (figure 9). The total amount of debt
South Asia Sub-Saharan Africa
Source: World Bank Debtor Reporting System. Figure 8. IBRD Disbursements, Regional
Distribution, 2008–09
$ millions
the World Bank Group is captured in the data pre-
12,000
sented in Global Development Finance as follows:
10,000
6
O V E R V I E W
outstanding and disbursed to IBRD stood at $108 accounts for the size of the population and GNI
billion at the end of 2009 for countries reporting per capita. IDA recipient countries in the top per-
to the World Bank Debtor Reporting System.1 Of formance quintile receive about three times the
this amount, 54 percent was owed by six borrow- commitment amount per capita received by those
ers: in order of highest amount, China, Mexico, in the lowest quintile. At the same time, the distri-
Brazil, Turkey, India, and Indonesia. bution of IDA resources is relatively concentrated.
There are currently 79 IDA-eligible countries, but
Trends in IDA Financing 75 percent of gross IDA disbursements in 2009
IDA resources are reserved for the world’s poor- went to 10 countries (figure 11).
est countries, and its operations are concentrated The outstanding IDA loan portfolio ($117
in South Asia and Sub-Saharan Africa. New loan billion at the end of 2009) is heavily concentrated,
commitments from IDA rose 15 percent in 2009 with five East and South Asian countries account-
to $10.4 billion, but gross disbursements increased ing for 54 percent of the total: in order of highest
more rapidly, by 26 percent to $8.7 billion. In amount India, Bangladesh, Pakistan, China, and
addition, IDA disbursed $2.5 billion in grants in Vietnam. This concentration is a consequence of
2009, an increase of 19 percent over the com- the fact that, at the end of 2009, 26 countries,
parable figure for 2008 ($2.1 billion). Countries primarily in Sub-Saharan Africa, had reached the
in Sub-Saharan Africa received 46 percent of all Highly Indebted Poor Country (HIPC) comple-
IDA gross disbursements (loans and grants) in tion point and received $42.8 billion in HIPC
2009, down from 51 percent in 2008; South Asia and Multilateral Debt Relief Initiative (MDRI)
received 31 percent (up from 27 percent the previ- assistance from IDA. Among Sub-Saharan African
ous year), reflecting increases in IDA resources countries, those with the largest share of the out-
going to Afghanistan and Pakistan. The share standing IDA portfolio include Kenya ($3.2 bil-
of IDA gross disbursements to East Asia and the lion) and Nigeria ($2.7 billion), neither of which is
Pacific remained largely unchanged at 14 percent eligible for HIPC or MDRI relief. Three countries
of the total. Gross IDA flows to countries in (Burundi, the Central African Republic, and Haiti)
regions other than those cited increased sharply, reached the HIPC completion point in 2009 and
albeit from a small base, primarily because of the became eligible for debt relief under the MDRI.
doubling of IDA grants to Haiti (figure 10). IDA Côte d’Ivoire reached the HIPC decision point in
resources are allocated to individual countries 2009 and became eligible for interim relief from
using a performance-based allocation system that IDA (accorded to countries between the HIPC
4,000 Pakistan
Ethiopia
3,000
Tanzania
2,000 Nigeria
Uganda
1,000
Congo, Dem.Rep.
0
Bangladesh
Sub-Saharan South Asia East Asia Other regions
Africa and Pacific Afghanistan
2008 2009 0 200 400 600 800 1,000 1,200 1,400
Source: World Bank Debtor Reporting System. Source: World Bank Debtor Reporting System.
7
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
decision and completion points), raising the num- Figure 12. Net Medium- and Long-Term Bank
ber of countries receiving interim relief to nine. Lending, 2007–09
$ billions
140
ing to both public and private sector borrowers. 2007 2008 2009
8
O V E R V I E W
Figure 13. Gross Medium-Term Commercial Bank Table 5. Net Short-Term Debt Flows to Developing
Flows to Developing Countries, 2000–09 Countries, 2007−09
$ billions
$ billions
Region 2007 2008 2009
450
East Asia and Pacific 55 11 55
400 Europe and Central Asia 76 15 38
Latin America and the Caribbean 33 4 2
350
Middle East and North Africa 4 4 2
South Asia 13 8 1
300
Sub-Saharan Africa 4 5 10
250 All developing countries 184 14 6
Sources: World Bank Debtor Reporting System and Bank for Inter-
200
national Settlements.
150
Table 6. Bond Issuance by Developing Countries,
100 2008–09
$ billions
50 Sovereign Corporate
borrowers borrowers
0
Region 2008 2009 2008 2009
2000 2005 2006 2007 2008 2009
Gross disbursements public borrowers East Asia and Pacific 5.2 13.9 0.4 2.7
Gross disbursements private sector borrowers Europe and Central Asia 17.9 15.3 16.3 3.2
was East Asia and the Pacific, where the net Source: World Bank Debt Reporting System.
inflow of short-term capital returned to pre-crisis
levels. The region recorded inflows of $55 billion average of 700 basis points in early March. Latin
in 2009, the same as in 2007, and a $66 billion America and the Caribbean led the way in sover-
turnaround from outflows of $11 billion in 2008. eign bond issuances, with countries in the region
Countries in the Middle East and North Africa raising a total of $32 billion in 2009, almost
also saw short-term debt rebound in 2009. All identical to the amount they raised in 2008 (table
other regions had to contend with net outflows of 6). Sovereign bond financing in East Asia and the
short-term debt in 2009 (table 5). This situation Pacific jumped to $13.9 billion, from $5.2 billion
was particularly marked in the case of Europe and in 2008, because of new issuances by Indonesia,
Central Asia, where outflows rose to $38 billion, Malaysia, and the Philippines. There was a 15
more than double the $15 billion outflow recorded percent decline in sovereign bond issuance by
in 2009. Short-term debt flows also turned sharply countries in Europe and Central Asia in 2009, but
negative in Sub-Saharan Africa (−$10 billion), Lithuania, Russia, and Turkey all came to the mar-
driven primarily by outflows from South Africa. ket in 2009. Corporate issuances increased by 42
International bond issuance by develop- percent in 2009 to $36.5 billion but were limited
ing countries contracted in 2008 as the global principally to high-grade borrowers, suggesting
financial crisis unfolded but increased strongly in that the market is still largely closed to high-risk
2009. It soared after the first quarter of the year to corporate borrowers. Corporate bond issuances,
$104 billion for the entire year, an increase of 24 as a share of total bond issuances, were 35 percent
percent over its 2008 level, as investor confidence in 2009, broadly unchanged from their share in
returned and demand for riskier assets increased. 2008. But there was a marked regional shift. In
Emerging market bond spreads narrowed, falling 2008, Russian borrowers accounted for 56 per-
to near pre-crisis levels by the year’s end, from an cent of corporate bond issuances by all developing
9
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
countries, whereas in 2009 their share had fallen Figure 14. Key Debt Indicators: Trend 2000–09
to 6 percent. Of $2.3 billion raised by Russian 140
corporates in 2009 most was accounted for by
Gazprom. The opposite was true for Brazil, which
120
saw its share of total bond issuances by corporate
borrowers nearly double, reaching 47 percent in
100
2009 (from 26 percent in 2008). The corporate
sectors in Chile, Colombia, Jamaica, and Mexico
were also active in the bond markets in 2009. In 80
East Asia and the Pacific, the only corporate bor-
rowers to enter the bond markets in 2009 were 60
those in China and Indonesia.
40
Debt Indicators 20
10
O V E R V I E W
Table 7. Debt Indicators for Regional Country Figure 15. Ratio of Debt Service to Exports,
Groups 1995–2009
percent
percent
Debt outstanding/GNI Debt outstanding/exports
30
Region 2000 2008 2009 2000 2008 2009
0
1995 2000 2005 2006 2007 2008 2009
Low-income countries Middle-income countries
countries combined was reduced by more than
half between 2000 and 2008, from 20.9 percent Sources: World Bank Debtor Reporting System and IMF.
11
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Philippines recording increased FDI inflows—up to an average inflow of $16.9 billion in the two
26 percent in 2009. In contrast, portfolio equity preceding years. Asian borrowers took advantage
flows to China rebounded to $28 billion (from of improved market conditions and renewed inves-
$9 billion in 2008). Thailand also saw portfolio tor appetite, issuing bonds totaling $16.6 billion in
equity rebound to $1.9 billion from an outflow of 2009, triple the amount issued in 2008. Of these
$3.8 billion in 2008. bonds, 85 percent were raised by public sector
Net capital inflows from private creditors borrowers, with the Philippines, Indonesia, and
jumped to 11 times their 2008 level, with short- Malaysia issuing $5.5 billion, $4.5 billion, and
term financing (mostly trade related) recovering $3.9 billion respectively.
to pre-crisis levels as the global economic environ- Capital flows from official sources are a
ment normalized. Most borrowers in the region relatively small share of the total for most bor-
reported inflows of short-term debt, but China rowers in the region. An important exception is
again dominated the trend: its net short-term Vietnam, which was the second-largest recipient of
debt inflows rose 28 percent over the 2008 level IDA in 2009, with disbursements of $1.2 billion.
to $241 billion. Exceptions to the regional trend The region also shared in the resurgence of flows
were the Philippines, with an outflow of short-term from official creditors in 2009: these flows turned
debt of $3 billion in 2009 and Indonesia, with a positive for the first time since 2001, driven by
more moderate $0.4 billion outflow. In contrast, disbursements from multilateral creditors, which
short-term debt disbursements on medium-term rose 30 percent over their 2008 level as a result
bank loans to both public sector and private sector of increased lending by both the World Bank
borrowers were subdued: the demand for inter- Group and the Asian Development Bank. These
national financing was weak because domestic institutions provided 52 percent and 46 percent,
markets were liquid and cheap. These disburse- respectively, of the $10.1 billion disbursed by mul-
ments fell by 20 percent from their 2008 level and, tilateral creditors in 2009.
combined with increased principal repayments, led The fall in export earnings led to an increase
to an outflow of $9.2 billion in 2009 compared in the ratio of outstanding debt and debt service
Table 8. Net Capital Inflows to East Asia and the Pacific, 2001–09
$ billions
Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net private and official inflows 82.2 49.6 76.4 127.0 171.0 192.4 282.2 183.2 190.6
Percentage of GNI 4.6 2.5 3.4 4.9 5.6 5.3 6.1 3.1 3.1
Net equity inflows 50.7 63.2 69.3 89.7 130.0 161.9 212.2 179.3 132.3
Net FDI inflows 48.9 59.4 56.8 70.4 104.3 105.7 177.1 186.6 102.5
Net portfolio equity inflows 1.8 3.8 12.5 19.3 25.7 56.2 35.1 7.3 29.9
Net debt flows 31.5 13.6 7.1 37.3 40.9 30.6 70.0 3.9 58.3
Official creditors 3.1 7.7 7.2 5.2 3.2 9.3 3.8 1.1 3.7
World Bank 0.9 1.7 1.5 1.9 0.6 0.4 0.3 1.2 2.2
IMF 2.5 2.7 0.5 1.6 1.6 8.5 0.0 0.0 0.1
Other official creditors 4.7 3.3 5.2 1.7 1.0 0.4 3.5 2.3 1.4
Private creditors 28.5 5.9 14.3 42.5 44.2 39.9 73.9 5.0 54.5
Net medium- and long-term
debt flows 12.9 12.3 9.8 9.1 9.3 14.8 18.5 16.2 0.8
Bonds 0.4 0.1 1.8 9.6 10.1 3.9 0.7 0.2 8.4
Banks and other private
creditors 13.3 12.4 11.5 0.5 0.7 10.9 17.8 16.0 9.2
Net short-term debt flows 41.4 6.5 24.1 33.4 34.8 25.1 55.4 11.2 55.4
Change in reserves ( increase) 49.8 92.8 139.8 237.1 217.7 295.1 541.0 432.4 534.8
Memorandum item
Worker remittances 21.0 27.0 32.3 40.0 50.3 57.4 71.1 85.5 84.9
Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD.
12
O V E R V I E W
to export earnings in 2009, but these ratios remain the hydrocarbon sector held up well, experienced
the lowest of all six regions at 39 percent and 4.8 a more moderate decline of inflows (20 percent).
percent, respectively. Led by China, countries in There was resurgence in portfolio equity inflows
the region increased international reserves by a fur- to Russia and Turkey, but at $5 billion they
ther $600 million in 2009: at the end of 2009, the remained well below the $24 billion received in
stock of international reserves was three and one- 2007.
half times the level of outstanding external debt. The net inflow of financing from official
creditors tripled in 2009 to $32 billion, primar-
Europe and Central Asia ily because of the large-scale rescue packages for
This region has been severely affected by the Romania and Ukraine. Together these countries
global economic crisis and has seen private capital received 55 percent of IMF financing (purchases)
flows plummet from $411 billion in 2007 (15.8 to developing countries in 2009. New commit-
percent of GNI) to $90 billion in 2009 (3.6 per- ments by multilateral creditors other than the
cent of GNI). As a consequence, the region has IMF more than doubled in 2009 to $24 billion,
become increasingly dependent on financing from including $7 billion from the European Commu-
official creditors, which accounted for 36 percent nity as part of the rescue package to Romania.
of net capital flows to the region in 2009 (table 9). Gross disbursement rose by 82 percent to $13.4
FDI collapsed in 2009, pulling down net billion, of which 54 percent went to Romania and
equity inflows by 38 percent. In Russia, the Turkey. Disbursements by IBRD rose 65 percent in
second-largest recipient of FDI among developing 2009 to $4.7 billion, of which Turkey received 49
countries, the net inflow of FDI was down by 50 percent.
percent from its 2008 level to $37 billion. The pat- The net inflow of medium- and long-term
tern was repeated across the region with inflows to financing from banks held up well in 2008, but
Bulgaria, Romania, Turkey, and Ukraine down by the retrenchment in 2009 was severe: a 35 percent
a similar percentage. Among the major recipients drop in disbursements juxtaposed with principal
of FDI, only Kazakhstan, where investments into repayments on a steep upward trajectory reduced
Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net private and official inflows 20.6 36.9 81.6 99.9 127.8 218.3 410.6 262.3 89.8
Percentage of GNI 3.0 4.7 8.3 7.7 7.8 10.9 15.8 8.2 3.6
Net equity inflows 14.5 16.8 25.3 43.7 57.8 104.6 160.2 145.0 90.0
Net FDI inflows 13.9 14.0 23.8 41.9 51.1 92.3 133.2 160.1 85.1
Net portfolio equity inflows 0.6 2.7 1.5 1.8 6.7 12.3 27.0 15.1 5.0
Net debt flows 6.1 20.1 56.3 56.2 70.0 113.7 250.4 117.3 0.3
Official creditors 6.6 3.8 4.7 7.3 28.4 30.7 3.0 11.1 32.2
World Bank 2.0 1.0 0.2 1.0 0.7 0.2 0.2 0.7 2.8
IMF 6.1 4.8 2.0 5.9 9.8 5.8 5.0 6.2 20.2
Other official creditors 1.5 2.0 2.5 2.5 18.0 25.1 1.8 4.2 9.3
Private creditors 0.5 16.3 61.0 63.5 98.4 144.4 253.4 106.2 32.5
Net medium- and long-term
debt flows 0.3 14.9 34.5 52.1 80.1 108.9 177.7 121.5 5.2
Bonds 0.5 3.2 7.3 14.4 16.6 32.2 55.9 16.3 1.6
Banks and other private
creditors 0.8 11.7 27.2 37.7 63.5 76.7 121.8 105.2 6.8
Net short-term debt flows 0.8 1.4 26.5 11.4 18.3 35.5 75.7 15.3 37.7
Change in reserves ( increase) 11.0 28.7 49.1 68.8 87.0 171.6 226.1 57.8 26.0
Memorandum item
Worker remittances 10.2 10.5 11.5 16.0 23.2 28.4 39.2 45.8 35.6
Sources: World Bank Debtor Reporting System, IMF, Bank of International Settlements, and OECD.
13
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
net inflows to $7 billion, their lowest level since and short-term bank financing was largely offset
2001. Short-term debt also contracted in response by a surge in new bond issuance, a tripling of net
to the deteriorating terms of trade and sharp inflows from official creditors, and a marginal
import compression, resulting in a widening of decline in net equity flows.
the net outflow of short-term debt to $38 billion The collapse in FDI in 2009 affected borrowers
in 2009, (from $15 billion in 2008). New bond across the region and reflected the 43 percent fall
issuances by public sector agencies in 2009 totaled in FDI inflows to Brazil and the 51 percent decline
$15.3 billion, down by only 15 percent from their in Mexico, the region’s two largest recipients of
2008 level, but there was a sharp reduction in FDI. Investments in the hydrocarbon sector typi-
bond issuance by private sector borrowers. This cally held up worldwide in 2009, but that was not
reduction was driven primarily by Russia, where the case in the República Bolivariana de Venezuela,
the corporate sector raised only $2.3 billion in where appropriation of some FDI claims deterred
new issuances in 2009 compared to $14.3 billion investors and led to a $3.1 billion net outflow of
in 2008. FDI in 2009, a marked turnaround from the $10.1
Debt indicators deteriorated significantly, billion and $3.5 billion FDI inflows to the country
owing to a substantial increase in debt and gener- in 2007 and 2008, respectively. The decline in FDI
ally poor export growth performance. The ratio inflows was in part offset by the surge in portfo-
of debt to exports increased from 95.3 percent in lio equity inflows. These inflows rebounded in
2005 to 131.8 percent in 2009 while the ratio of response to economic recovery, which proceeded at
debt service to exports climbed to 26.9 percent a faster pace in the region than had been expected.
(from 19.7 percent in 2005), the highest ratio of The main driver was Brazil, with portfolio equity
any region. inflows of $37 billion in 2009, 90 percent of the
regional total, in contrast to the $7.6 billion out-
Latin America and the Caribbean flow in 2008. Mexico, the only other significant
Net capital flows to the region fell 6 percent in recipient of portfolio equity inflows also recorded a
2009 but remained constant in relation to GNI at net inflow ($4.2 billion) in 2009 compared to a net
4.3 percent (table 10). The downturn in medium- outflow of $3.5 billion in 2008.
Table 10. Net Capital Inflows to Latin America and the Caribbean, 2001–09
$ billions
Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net private and official inflows 86.1 40.4 62.2 57.2 85.2 66.2 217.5 177.2 166.7
Percentage of GNI 4.5 2.4 3.4 2.7 3.3 2.2 6.1 4.3 4.3
Net equity inflows 74.3 56.6 46.6 65.3 84.4 83.0 138.2 118.2 115.2
Net FDI inflows 71.8 55.2 43.3 65.9 72.2 72.0 109.4 127.9 73.6
Net portfolio equity inflows 2.5 1.4 3.3 0.6 12.2 11.0 28.8 9.7 41.6
Net debt flows 11.8 16.2 15.7 8.1 0.8 16.8 79.2 59.0 51.5
Official creditors 20.6 12.4 4.7 10.2 31.3 19.9 1.1 6.5 19.2
World Bank 1.3 0.6 0.4 1.0 0.7 3.4 0.1 2.4 6.6
IMF 15.6 11.9 5.6 6.3 27.6 12.1 0.0 0.0 0.4
Other official creditors 3.8 1.1 0.4 2.9 3.0 4.4 1.0 4.1 12.2
Private creditors 8.8 28.6 10.9 2.0 32.2 3.1 80.3 52.5 32.3
Net medium- and long-term
debt flows 6.5 8.4 9.2 0.9 16.4 5.2 47.6 48.4 34.1
Bonds 9.8 1.9 16.7 3.1 20.6 11.9 13.4 7.5 40.3
Banks and other private
creditors 3.3 10.2 7.5 4.0 4.2 17.1 34.2 40.9 6.2
Net short-term debt flows 15.3 20.2 1.8 3.0 15.7 2.1 32.7 4.1 1.8
Change in reserves ( increase) 0.9 2.6 35.6 25.4 34.4 55.5 137.8 50.1 52.0
Memorandum item
Worker remittances 24.4 28.1 36.7 43.3 50.1 59.2 63.1 64.6 56.9
Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD.
14
O V E R V I E W
Increased borrowing from multilateral institu- accounted for 69 percent. New issuances by pri-
tions was already evident in 2008 and continued vate sector borrowers shot up to $28 billion (from
apace in 2009. This increase was the main fac- $8 billion in 2008), led by the corporate sector in
tor in the sharp rise in net inflows from official Brazil ($17 billion) and, to a lesser extent, Mexico
creditors, which rose to $19.2 billion in 2009, ($5.1 billion).
close to three times higher than their 2008 level The rise in the stock of outstanding debt in
and in marked contrast to the outflows from the 2009 was moderate—3 percent for the entire
region to official creditors between 2004 and region—and it was the decline in export earn-
2007. New commitments from IBRD and the IDB ings that caused the ratio of outstanding debt to
doubled to $30 billion in 2009, while disburse- exports to deteriorate. It jumped to 111.4 percent
ments by the two institutions jumped 89 percent (from 85.2 percent in 2008). Debt in relation to
to $22.6 billion (from $12.2 billion in 2008). But GNI rose slightly in 2009 but remains moderate at
these disbursements were highly concentrated, 23.7 percent.
with 67 percent of IBRD gross disbursements and
58 percent of those from IDB in 2009 going to Middle East and North Africa
three countries, in order of largest disbursement, The Middle East and North Africa recorded the
Mexico, Brazil, and Argentina. IDB, the largest sharpest rise in net capital inflows in 2009 of all
multilateral creditor, accounted for 50 percent of regions. Capital inflows increased by 32 percent
2009 multilateral commitments and 48 percent of largely because of the increase in lending by official
gross disbursements. creditors and an inflow of short-term debt. The
The steep drop in medium-term lending by reversal in net debt flows to $2 billion in 2009, from
banks was offset by a sharp rise in net inflows for an outflow of $9 billion in 2008, more than offset
bonds, which leapt from $7.5 billion in 2008 to the 14 percent fall in net equity flows (table 11).
$40.3 billion in 2009. New bonds issued by the Net equity inflows have constituted 96 per-
public sector totaled $32 billion, almost identical cent of all net capital flows into the region since
to 2008, of which Brazil ($6.1 billion), Colom- 2001. The 17 percent decline in net FDI inflows
bia ($5.5 billion), and Mexico ($10.9 billion) in 2009 was partially offset by an increase in net
Table 11. Net Capital Inflows to Middle East and North Africa, 2001–09
$ billions
Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net private and official inflows 4.4 10.3 13.5 13.0 19.4 14.4 29.4 21.1 27.8
Percentage of GNI 1.2 2.7 3.3 2.7 3.6 2.3 3.9 2.3 3.0
Net equity inflows 3.9 7.6 10.2 10.4 19.2 28.2 25.5 29.7 25.6
Net FDI inflows 4.0 8.1 10.0 9.7 16.8 27.2 27.6 29.3 24.4
Net portfolio equity inflows 0.0 0.5 0.2 0.7 2.4 1.0 2.1 0.4 1.2
Net debt flows 0.5 2.7 3.4 2.6 0.2 13.7 3.9 8.6 2.2
Official creditors 1.5 2.1 2.1 3.4 3.0 11.2 1.1 1.8 2.3
World Bank 0.1 0.3 0.3 0.6 0.0 0.8 1.0 0.3 0.9
IMF 0.1 0.3 0.6 0.5 0.7 0.2 0.1 0.1 0.1
Other official creditors 1.3 1.5 1.2 2.3 2.3 10.3 0.2 1.4 1.4
Private creditors 1.9 4.8 5.4 5.9 3.2 2.5 2.8 6.8 0.1
Net medium- and long-term
debt flows 4.9 5.4 0.9 2.7 2.9 1.7 0.7 2.7 1.7
Bonds 4.4 5.2 0.7 2.8 2.5 0.8 0.7 0.8 0.5
Banks and other private
creditors 0.5 0.2 0.2 0.1 0.4 2.5 1.4 1.8 2.1
Net short-term debt flows 3.0 0.7 4.6 3.2 0.3 0.8 3.5 4.2 1.6
Change in reserves ( increase) 9.3 12.6 23.2 14.7 38.9 37.8 48.0 43.4 24.2
Memorandum item
Worker remittances 14.2 14.9 19.9 22.6 23.6 25.1 31.0 34.7 32.3
Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD.
15
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
portfolio equity flows. They rose to $1.2 billion in and a net inflow on bonds. The Islamic Republic of
2009 from $0.4 billion in 2008. Portfolio equity Iran, Morocco, and Tunisia were important drivers
flows are concentrated in the Arab Republic of of the overall rise in short-term debt inflows: they
Egypt and Lebanon, and both countries recorded recorded increases of $0.9 billion, $0.5 billion,
a marked increase in inflows in 2009. With regard and $0.5 billion, respectively, in 2009. By contrast,
to FDI, however, the picture was mixed. Egypt, some borrowers in the region, including Egypt
the region’s largest recipient of FDI, saw net FDI and Jordan, saw short-term debt contract in 2009.
inflows fall 29 percent in 2009. But in Lebanon, Bond inflows in 2009 are concentrated entirely in
FDI inflows were $4.8 billion, up by 10 percent, Lebanon and reflect the bond exchange operation,
and in the Islamic Republic of Iran, they jumped which is valued at $2.9 billion. In 2008, Lebanon
by an unprecedented 87 percent to $3 billion, raised $2.5 billion in the bond markets.
directed primarily at the oil and gas sector. Debt indicators are moderate because of the
Net debt flows from official creditors turned preponderance of equity in net capital flows to
positive in 2009, rising to $2.3 billion compared the region and relatively robust export earnings.
to an outflow of $1.8 billion in 2008. This rise Despite a 10 percent fall in export earnings in
was driven by an increase in disbursements by 2009, the stock of outstanding debt in relation to
each of the principal multilateral institutions export earnings was, at 37.4 percent, the lowest of
operating in the region: the African Development any region, and the ratio of debt service to export
Bank, the European Investment Bank, and IBRD. was only 4.7 percent. Debt as a share of GNI was
Collectively, these banks disbursed $3.9 billion 15.4 percent in 2009, lower than in all regions
in 2009, an increase of close to 70 percent over except East Asia and the Pacific.
the comparable figure for 2008, with Egypt and
Morocco being the primary beneficiaries. South Asia
The large net outflow from the region in 2008 Net capital inflows to the region rose 26 percent in
for debt owed to private creditors, $6.8 billion, 2009, to 4.7 percent of GNI, because of a remark-
was reversed in 2009 because of a sharp turn- able $37 billion turnaround in portfolio equity
around in the direction of short-term debt flows flows (table 12). The increase more than offset the
Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net private and official inflows 8.1 7.5 14.5 21.2 28.5 76.6 117.7 61.4 77.7
Percentage of GNI 1.3 1.1 1.9 2.3 2.7 6.5 7.8 4.0 4.7
Net equity inflows 8.9 7.8 13.5 16.8 23.6 36.4 68.4 32.9 58.8
Net FDI inflows 6.1 6.8 5.4 7.8 11.2 26.0 32.3 48.7 38.3
Net portfolio equity inflows 2.8 1.1 8.0 9.0 12.4 10.4 36.1 15.8 20.5
Net debt flows 0.9 0.4 1.0 4.4 4.9 40.2 49.3 28.5 18.8
Official creditors 2.1 2.3 4.1 0.3 2.9 3.5 4.4 8.6 9.5
World Bank 1.5 1.0 2.3 2.3 2.3 2.0 2.0 1.4 2.1
IMF 0.3 0.1 0.1 0.3 0.0 0.1 0.1 3.2 3.6
Other official creditors 0.3 1.4 1.8 2.4 0.6 1.6 2.4 4.0 3.8
Private creditors 3.0 2.0 5.1 4.7 2.0 36.7 44.9 19.9 9.3
Net medium- and long-term
debt flows 2.1 0.1 3.1 4.0 0.2 19.9 32.0 12.0 10.3
Bonds 0.4 0.7 3.7 3.9 2.8 6.4 10.7 1.7 1.7
Banks and other private
creditors 1.6 0.8 6.8 0.2 2.6 13.5 21.3 10.3 8.6
Net short-term debt flows 0.9 1.8 2.0 0.7 2.3 16.8 12.9 7.9 1.0
Change in reserves ( increase) 10.2 28.0 36.9 27.6 6.8 41.7 103.8 26.3 38.6
Memorandum item
Worker remittances 19.2 24.1 30.4 28.7 33.9 42.5 54.0 71.6 74.9
Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD.
16
O V E R V I E W
decline in net medium- and long-term bank financ- notably India, also dropped off sharply in 2009,
ing and the reversal of short-term debt, which but Sri Lanka issued $500 million in development
turned negative (−$1 billion from an $8 billion bonds; aimed at the Sri Lankan Diaspora, these
inflow in 2008). bonds were oversubscribed. Bond issuance by cor-
Net equity flows to the region rose by almost porate borrowers, again largely in India, rose to
80 percent in 2009 because of an important turn- $2.5 billion, five times the 2008 level.
around in portfolio equity flows to India. Foreign Debt indicators are lower than those of Europe
investors repatriated $16 billion in 2008 but came and Central Asia and Latin America and the Carib-
back to the Indian stock market in 2009 as fears bean. Debt outstanding at the end of 2009 as a
about the effect of the global economic crisis percentage of exports was 104.4 percent and the
subsided with net inflows of $21 billion. India debt service to export ratio was 6.8 percent. But
has also become one of the foremost recipients of there are important differences between countries:
FDI among developing countries—the third larg- the debt-to-export ratio ranged from 86.6 percent
est after China and Russia. Like those countries, in India to 235.2 percent in Pakistan. Similarly,
India saw FDI fall in 2009, but by a moderate 19 reserves as a percentage of the stock of external
percent. FDI to Pakistan fell by more than half, debt were 119.8 percent in India at the end of 2009
to $2.4 billion, as investors retreated because of compared to 25.3 percent in Pakistan. Reliance on
concerns about the deteriorating economic and multilateral creditors is high: the share of outstand-
security situation and the stalled privatization ing debt owed to multilateral creditors (including
program. Portfolio equity flows to Pakistan also the IMF) was 30 percent at the end of 2009.
dwindled to almost nothing in 2009, from $1.3
billion in 2007, because of similar concerns. Sub-Saharan Africa
Countries in the region are relatively poor Net capital flows to Sub-Saharan Africa rose 16
and rely in large measure on official sources of percent in 2009, driven by a resurgence in port-
financing, including official aid. Afghanistan, folio equity inflows, a more than 100 percent
the second-highest aid recipient of all developing increase in the net debt inflows from official credi-
countries, received 4 percent of global aid flows tors, and a 130 percent rise in net medium-term
in 2008, and this trend is likely to be repeated in bank financing. Measured in terms of GNI, net
2009. Bangladesh, India, and Pakistan are also capital flows were 5.2 percent in 2009, higher
among the top 10 aid recipients. Debt-related than in any other region (table 13).
flows from official creditors rose by 10 percent FDI in the region, directed mainly to the min-
in 2009. Pakistan was the largest recipient and erals and metals sector, constituted two-thirds of
received almost 50 percent of disbursements to net capital flows (excluding grants) between 2001
the region in 2009 from multilateral creditors, and 2009. It declined in 2009, driven by falling
including $3.3 billion in purchases from IMF. investment flows to South Africa, the region’s larg-
These purchases were made under the $7.6 billion est recipient of FDI since 2001. But overall the fall
IMF program, approved in November 2008 and was much less than expected because reduced FDI
increased by a further $3.2billion in July 2009. from high-income countries was offset by strong
Disbursements in 2009 from the World Bank South-South FDI, and excluding South Africa,
(IBRD and IDA combined) were $4 billion, almost FDI inflows declined only 1 percent in 2009. FDI
identical to those of the Asian Development Bank to Nigeria, which received the highest share of
to the region in 2009. all FDI to the region in 2009, rose by almost 20
The overall fall in debt-related flows from percent (mostly given to the hydrocarbon sector),
private creditors was driven in large part by the and FDI to countries in the region classified as
contraction in short-term (trade-related) debt to HIPCs fell only marginally. Portfolio equity flows
India. Additionally, disbursements of medium- to South Africa rebounded to $9.4 billion, buoyed
term financing by banks fell by about 10 percent by improved economic prospects and the sale of
from their 2008 level, which, coupled with the Vodacom. They also turned positive in Nigeria
continued rise in principal repayments, led to a 17 ($0.5 billion).
percent decline in net inflow in 2009 compared to Many countries in the region remain on the
2008. Bond issuance by public sector borrowers, margins of international capital markets and
17
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
depend on official aid, mostly grants. Such aid South Africa accounts for almost all of the
is projected to rise again in 2009, notwithstand- increase in medium-term financing from private
ing the recessions in developed countries, but to creditors (bonds and banks). It returned to the
remain below the target set by donors’ “Renewed markets in March 2009 with a $2 billion sovereign
Commitment to Africa,” which called for aid to bond. Senegal became the second post–completion
increase by $25 billion by 2010 from its 2004 point HIPC country (Ghana being the first) to issue
level. Debt-related financing from official creditors an international bond: $200 million in December
doubled in 2009 to $10 billion, led by a sharp rise 2009. Short-term debt flows to the region shrank
in gross disbursements from multilateral credi- because of import contraction in Nigeria (down
tors (including the IMF). IDA is the single most $4 billion) and South Africa (down $5 billion), the
important multilateral creditor to the region, dis- main drivers.
bursing $5 billion in 2009 (in loans and grants), Debt indicators have improved significantly
a 13 percent rise over the comparable figure for since 2000 because of economic reforms, a favor-
2008. Twenty-four countries received financing able external environment, increased aid and debt
under IMF programs, and IMF purchases rose 85 restructuring, and debt relief. Excluding South
percent in 2009. Among the largest recipients were Africa, the stock of outstanding debt at the end
Angola, the Democratic Republic of Congo, Côte of 2009 was 73 percent of exports and the debt
d’Ivoire, and Tanzania. There was also a sharp service ratio had fallen to below 5 percent. Six
upturn in market-based financing by the African countries in the region restructured $5 billion owed
Development Bank. It committed $5 billion in to Paris Club creditors in 2009, of which $1 billion
2009, including $1.5 billion to Botswana (of which was forgiven (see annex A), and with support from
$1.1 billion was disbursed immediately) and $2.7 the IDA Debt Reduction Facility Liberia bought
billion to South Africa. Disbursements from bilat- back $1.2 billion at a discount of 97 percent. By the
eral creditors (for the most part non-OECD coun- end of 2009, 21 of the 33 eligible African countries
tries—notably China) jumped 37 percent but were had reached the HIPC completion point and had
heavily concentrated in mineral-rich countries. received $74 billion in HIPC and MDRI debt relief.
Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net private and official inflows 11.1 10.1 14.6 24.0 33.0 42.4 53.2 38.9 45.3
Percentage of GNI 3.5 3.0 3.5 4.6 5.5 6.0 6.7 4.3 5.2
Net equity inflows 13.2 10.4 14.0 17.7 26.1 37.0 38.7 28.9 40.2
Net FDI inflows 14.1 10.8 13.3 11.0 18.0 20.2 28.5 34.5 30.3
Net portfolio equity inflows 0.9 0.4 0.7 6.7 8.1 16.8 10.1 5.6 10.0
Net debt flows 2.1 0.4 0.6 6.4 6.9 5.4 14.6 10.0 5.1
Official creditors 0.0 2.7 1.4 2.3 0.9 1.9 2.5 4.6 9.5
World Bank 1.8 2.2 2.2 2.5 2.4 2.2 2.4 1.9 3.1
IMF 0.1 0.5 0.0 0.1 0.4 0.1 0.1 0.7 2.2
Other official creditors 1.9 0.0 0.8 0.0 2.9 4.1 0.0 2.0 4.1
Private creditors 2.1 3.0 0.8 4.0 7.9 7.4 12.1 5.5 4.4
Net medium- and long-term
debt flows 0.0 1.2 0.9 2.7 4.8 2.0 8.0 0.8 5.6
Bonds 1.9 1.5 0.4 0.6 1.3 0.3 6.7 0.7 1.9
Banks and other private
creditors 1.9 2.7 0.5 2.1 3.5 2.3 1.4 1.6 3.7
Net short-term debt flows 2.1 1.8 1.7 1.4 3.0 9.4 4.0 4.6 10.0
Change in reserves ( increase) 0.2 0.7 3.5 21.7 19.9 32.5 27.0 10.9 1.9
Memorandum item
Worker remittances 4.6 5.0 6.0 8.0 9.4 12.7 18.6 21.3 20.8
Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD.
18
O V E R V I E W
Annex A: Debt Restructuring in 2009 and interest as of June 30, 2009, and maturities
due from July 1, 2009 to June 30, 2012. Of the
Developments in 2009 amount restructured, $1 million was canceled
The Paris Club restructured $5.2 billion in 2009 and $12 million was rescheduled. Creditors also
for seven countries. Of these countries, six are eli- signaled their willingness to top up debt relief to
gible for the HIPC Initiative. About 23 percent of Cologne terms (90 net percent value reduction)
the restructured debt was canceled and the remain- once Comoros reaches the HIPC decision point.
der rescheduled (table A1). The share of debt Côte d’Ivoire concluded an agreement in May
canceled for each debtor country was dictated by 2009 that restructured claims totaling $4.7 billion.
its progress under the HIPC process and the com- This agreement followed approval in March of a
position of the debt owed to Paris Club creditors. new three-year arrangement under the IMF PRGF
and the HIPC decision point by executive direc-
Agreements with HIPC Countries tors of the IMF and the World Bank. The May
Burundi became the 24th country to reach the agreement was concluded on Cologne terms (90
HIPC completion point in January 2009 and percent net present value reduction). The agree-
concluded a stock of debt treatment with Paris ment restructured arrears of principal and interest
Club creditors on March 11, 2009. The agreement as of March 31, 2009, and maturities falling due
marked an exit from the Paris Club rescheduling from April 2009 to March 2012. Of the $4.7 bil-
process and canceled claims valued at $129 mil- lion covered by the agreement, $3.8 billion was
lion in nominal terms. rescheduled and $0.9 billion was canceled over the
The Central African Republic became the three-year consolidation period.
25th country to reach the HIPC completion point Haiti became the 26th country to reach the
in June 2009 and concluded a stock of debt treat- HIPC completion point in June 2009 and con-
ment with Paris Club creditors in September 2009. cluded a stock of debt treatment with Paris Club
The agreement, which marked an exit from the creditors on July 8, 2009. The agreement marked
Paris Club rescheduling process, restructured an exit from the Paris Club rescheduling process
$49.2 million, of which the entirety was canceled. and canceled claims valued at $62 million in nomi-
The Comoros concluded an agreement in nal terms and restructured $98 million.
November 2009 that restructured claims totaling Togo reached the HIPC decision point in
$13 million. This agreement followed approval in November 2008 and became eligible for debt relief
September 2009 of a new three-year arrangement on Cologne terms (90 percent net present value).
under the IMF Poverty Reduction and Growth The agreement concluded in January 2009 topped
Facility (PRGF) that was concluded on Naples up the debt relief of 67 percent (in net present
terms (67 percent net present value reduction). value terms) accorded under the agreement of June
The agreement restructured arrears of principal 2008 to 90 percent (in net present value terms).
Burundi March 11, 2009 June 1999 134.0 5.0 129.0 90 Stock
Central African September 15, January 1983 49.2 0.0 49.2 90 Stock
Republic 2009
Comoros November 19, June 1999 13.0 12.0 1.0 67 July 2009 June 2012
2009
Côte d’Ivoire May 15, 2009 July 1983 4,690.0 3,845.0 845.0 90 April 2009 March 2012
Haiti July 8, 2009 October 1993 161.0 98.9 62.7 90 Stock
Seychelles April 16, 2009 December 163.0 89.6 73.4 50 October 2009 July 2010
2008
Togo January 22, 2009 January 1983 22.0 0.0 22.0 90 April 2008 Mar 2011
19
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
It covered $22 million in claims, of which the amount restructured (equivalent to 50 percent in
entirety was canceled (in addition to the $347 mil- net present value terms) in two phases: 22.5 per-
lion canceled under the 2008 agreement). cent on July 1, 2009, and a further 22.5 percent
on July 1, 2010. Paris Club creditors required the
Seychelles to seek comparable treatment from other
Agreements with Non-HIPC Countries
bilateral and external commercial creditors.
Seychelles concluded a debt restructuring agree-
ment with Paris Club creditors in April 2009 fol-
lowing approval of a 2-year standby arrangement
with the IMF in November 2008. This agreement
was the country’s first with Paris Club creditors, Note
1. Borrowers that have outstanding obligations to
and it restructured a total of $163 million in claims,
IBRD, and classified as high-income countries, and are not
largely arrears and late interest charges. The agree- included in the DRS: Barbados, Croatia, Estonia, Hungary,
ment was concluded under the Evian approach and the Republic of Korea, Latvia, Poland, the Slovak Republic,
provided for the cancellation of 45 percent of the Slovenia, and Trinidad and Tobago.
20
.
Summary Tables
21
S U M M A R Y T A B L E S
23
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
24
S U M M A R Y T A B L E S
25
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Public and
Public and publicly Public and publicly
Total external Total long-term guaranteed debt, publicly guaranteed guaranteed
Country debt stocks external debt multilateral debt, bilateral debt, bonds
26
S U M M A R Y T A B L E S
0 0 0 0 471 106 20
665 0 983 24 849 71 835
821 0 982 10 0 0 1,492
8,902 0 0 0 385 359 2,634
924 6,850 20,873 5,305 0 0 19,537
1 0 1,461 53 1,161 587 512
1,212 0 590 199 739 62 810
84 0 0 0 10,746 675 1,939
128 19 1,485 256 0 2,871 8,024
634 0 14 16 0 7 8
0 0 0 0 309 39 45
0 0 0 0 114 0 0
84 0 2,647 0 316 0 554
206 0 4,051 417 1,102 286 1,677
2 0 0 0 5 0 229
7,571 53,342 96,483 10,065 0 0 39,789
21 146 17,085 1,509 0 0 18,578
20 0 0 0 721 110 0
0 0 0 0 147 91 7
0 0 0 0 566 0 265
11 0 615 30 273 175 23
6 0 0 0 286 11 2
34 0 0 0 9 78 67
33 0 0 0 896 29 4
2,827 6,584 38,304 215 1 0 17,476
14,220 7,020 87,788 12,705 9,521 0 240,509
2,959 2,709 10,040 6,570 1 0 4,110
0 0 0 0 120 10 5
292 0 0 0 2,497 800 596
924 0 0 0 298 43 213
185 0 2,538 57 0 0 2341
134 0 271 42 1,781 352 99
15 0 0 0 1,58 16 5
6 0 0 1 28 20 40
1,373 843 0 748 8 767 1,679
192 0 4,600 532 11 0 1,419
410 0 74 1,850 1,400 0 2,561
90 0 3,139 569 9 0 2,114
41 0 0 0 477 0 6
1,259 0 0 0 1,422 168 45
0 0 1 0 0 0 70
195 0 0 18 0 0 108
1 0 0 0 64 29 42
1 0 518 100 1,153 786 330
27
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Public and
Public and publicly Public and publicly
Total external Total long-term guaranteed debt, publicly guaranteed guaranteed
Country debt stocks external debt multilateral debt, bilateral debt, bonds
28
S U M M A R Y T A B L E S
29
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Public and
Public and publicly Public and publicly
Total external Total long-term guaranteed debt, publicly guaranteed guaranteed
Country debt stocks external debt multilateral debt, bilateral debt, bonds
30
S U M M A R Y T A B L E S
31
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Public and
Public and publicly Public and publicly
Total external Total long-term guaranteed debt, publicly guaranteed guaranteed
Country debt stocks external debt multilateral debt, bilateral debt, bonds
Region or Group
East Asia and Pacific 825,602 502,950 80,654 120,900 60,029
Europe and Central Asia 1,126,252 925,764 59,033 30,122 126,853
Latin America and the Caribbean 912,980 773,100 115,208 33,869 242,880
Middle East and North Africa 141,321 118,719 34,673 43,096 23,946
South Asia 339,983 282,407 94,140 49,269 8,692
Sub-Saharan Africa 198,976 156,260 54,335 48,761 13,368
Low-income countries 135,593 116,809 68,594 36,764 750
Middle-income countries 3,409,521 2,642,391 369,450 289,252 475,018
Source: World Bank data. Note: IBRD = International Bank for Reconstruction and Development; IDA = International Development
Association; IMF = International Monetary Fund.
32
S U M M A R Y T A B L E S
33
.
35
ALL DEVELOPING COUNTRIES
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 1,253,016 1,860,250 2,122,096 2,488,733 2,643,251 3,180,004 3,425,383 3,545,114
Long-term external debt 1,032,168 1,469,667 1,776,864 1,964,829 2,067,087 2,421,910 2,672,049 2,759,199
Public and publicly guaranteed 972,552 1,261,176 1,287,114 1,283,181 1,210,859 1,308,265 1,348,023 1,406,990
Private nonguaranteed 59,616 208,491 489,750 681,648 856,227 1,113,645 1,324,026 1,352,210
Use of IMF credit 33,626 59,721 58,231 49,179 19,859 15,540 24,915 52,179
Short-term external debt 187,222 330,863 287,001 474,725 556,305 742,554 728,419 733,736
interest arrears on long-term 44,689 44,539 31,838 28,665 26,334 27,933 27,807 26,726
Memorandum items
Principal arrears on long-term 53,981 104,656 60,834 46,432 45,071 47,985 49,621 51,557
Long-term public sector debt 966,765 1,256,108 1,281,244 1,278,690 1,206,587 1,303,504 1,342,408 1,395,767
Long-term private sector debt 65,403 213,559 495,621 686,139 860,500 1,118,406 1,329,641 1,363,432
Public & publicly guaranteed commitments 112,931 140,532 145,847 157,350 140,021 189,986 176,452 216,718
External debt flows
Disbursements 121,319 209,469 235,818 384,285 458,638 646,010 623,104 537,473
Long-term external debt 113,870 181,686 225,703 380,324 454,524 643,997 609,344 509,127
IMF purchases 7,449 27,783 10,114 3,961 4,113 2,013 13,760 28,346
Principal repayments 79,142 120,565 232,711 335,002 383,247 363,027 399,192 408,234
Long-term external debt 71,317 111,927 212,119 290,880 352,428 355,872 395,392 406,390
IMF repurchases 7,825 8,638 20,592 44,122 30,819 7,155 3,800 1,844
Net flows 56,358 142,985 -5,176 123,777 159,301 467,229 209,903 135,637
Long-term external debt 42,553 69,759 13,584 89,444 102,096 288,124 213,952 102,737
Short-term external debt 14,181 54,082 -8,282 74,494 83,911 184,246 -14,009 6,398
Interest payments 60,784 85,012 112,421 103,589 117,309 135,710 140,568 124,324
Long-term external debt 48,917 67,476 93,744 84,843 95,089 109,172 120,257 110,205
IMF charges 2,415 2,623 2,863 3,277 1,622 710 979 554
Short-term external debt 9,452 14,912 15,815 15,469 20,597 25,828 19,332 13,565
2. Other non-debt resource inflows
Foreign direct investment 21,609 94,658 148,373 273,590 343,337 508,131 587,109 354,088
Portfolio equity 3,390 13,779 13,955 67,498 107,674 135,080 -53,193 108,157
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 14.2 15.1 15.6 14.2 15.0
Japanese yen 10.9 13.0 12.0 10.1 10.2 9.3 11.1 10.6
Pound sterling 2.4 1.6 1.0 1.1 0.8 0.6 0.4 0.5
Swiss franc 1.7 1.1 0.4 0.6 0.6 0.6 0.6 0.5
U.S.dollars 44.5 47.9 62.8 65.6 65.2 66.0 66.2 66.0
4. Average terms of new commitments
Official creditors
Interest (%) 5.4 5.8 4.8 3.6 3.9 3.7 2.9 2.1
Maturity (years) 22.8 19.2 20.2 22.1 22.8 23.2 23.6 21.2
Grace period (years) 6.6 5.3 5.1 5.7 6.2 6.5 6.7 6.2
Private creditors
Interest (%) 8.5 6.5 8.1 6.3 6.2 6.3 6.0 6.3
Maturity (years) 11.7 7.4 11.3 11.2 12.1 10.8 11.8 10.0
Grace period (years) 4.9 3.4 8.4 8.7 9.5 7.9 8.1 8.6
5. Major economic aggregates
Gross national income (GNI) 3,530,181 4,791,570 5,614,158 9,427,817 11,189,833 13,856,781 16,589,721 16,023,321
Exports of goods, services & income 651,786 1,140,219 1,652,400 3,329,578 4,057,884 4,911,991 5,863,632 4,755,347
Worker remit. & comp. of employees 30,760 54,593 80,196 190,644 225,325 277,165 323,542 305,200
Imports of goods, services & income 718,403 1,300,105 1,703,631 3,209,914 3,840,260 4,709,354 5,732,392 4,588,788
Profit remittances on FDI 16,118 36,709 67,741 163,147 232,181 299,410 340,938 243,805
International reserves 178,522 438,799 641,834 1,976,647 2,610,837 3,694,463 4,147,161 4,820,982
6. Ratios
External debt stocks to exports (%) 192.2 163.1 128.4 74.7 65.1 64.7 58.4 74.6
External debt stocks to GNI (%) 35.5 38.8 37.8 26.4 23.6 22.9 20.6 22.1
Debt service to exports (%) 21.5 18.0 20.9 13.2 12.4 10.2 9.2 11.3
Short-term to external debt stocks (%) 14.9 17.8 13.5 19.1 21.0 23.4 21.3 20.7
Multilateral to external debt stocks (%) 16.0 15.0 15.4 15.0 13.2 11.7 11.5 12.4
Reserves to external debt stocks (%) 14.2 23.6 30.2 79.4 98.8 116.2 121.1 136.0
Reserves to imports (months) 3.0 4.1 4.5 7.4 8.2 9.4 8.7 12.6
36
ALL DEVELOPING COUNTRIES
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
100
250
50
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
37
EAST ASIA AND PACIFIC
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 233,974 455,544 496,687 614,625 648,706 726,940 756,756 825,602
Long-term external debt 194,526 345,382 418,614 408,562 425,941 448,695 489,681 502,950
Public and publicly guaranteed 172,986 255,399 271,459 262,047 261,218 260,896 278,116 293,956
Private nonguaranteed 21,541 89,982 147,155 146,515 164,723 187,799 211,565 208,994
Use of IMF credit 2,085 1,337 16,452 8,545 239 215 162 291
Short-term external debt 37,363 108,826 61,621 197,519 222,526 278,031 266,914 322,361
interest arrears on long-term 1,886 2,952 5,336 1,088 991 1,121 1,155 1,226
Memorandum items
Principal arrears on long-term 2,965 10,943 7,461 5,920 4,670 5,329 5,478 5,779
Long-term public sector debt 172,443 254,012 271,107 261,526 260,723 260,463 277,689 289,041
Long-term private sector debt 22,083 91,370 147,507 147,036 165,219 188,232 211,992 213,908
Public & publicly guaranteed commitments 23,347 46,429 26,963 24,974 20,208 19,177 28,566 42,088
External debt flows
Disbursements 29,489 59,108 41,428 74,963 76,940 90,725 88,543 85,403
Long-term external debt 29,431 58,906 39,935 74,963 76,940 90,725 88,543 85,229
IMF purchases 58 203 1,493 0 0 0 0 174
Principal repayments 18,645 32,240 47,836 68,857 71,484 76,062 73,504 82,516
Long-term external debt 17,359 31,850 47,568 67,260 63,005 76,027 73,455 82,465
IMF repurchases 1,286 390 267 1,597 8,479 35 49 50
Net flows 18,630 54,088 -17,219 40,937 30,560 70,037 3,888 58,264
Long-term external debt 12,072 27,056 -7,633 7,703 13,935 14,698 15,088 2,763
Short-term external debt 7,786 27,220 -10,812 34,831 25,105 55,374 -11,151 55,376
Interest payments 12,501 20,622 25,180 17,876 22,011 25,496 23,038 19,908
Long-term external debt 10,147 15,539 20,377 12,859 14,257 17,461 16,859 15,345
IMF charges 245 69 793 336 308 3 1 2
Short-term external debt 2,109 5,014 4,011 4,682 7,446 8,032 6,178 4,561
2. Other non-debt resource inflows
Foreign direct investment 10,512 50,797 45,168 104,348 105,666 177,106 186,610 102,486
Portfolio equity 440 3,746 6,589 25,684 56,191 35,093 -7,340 29,850
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.3 8.9 9.1 7.5 6.5
Japanese yen 29.1 28.2 28.3 26.4 25.2 24.3 27.2 24.6
Pound sterling 1.0 0.4 0.5 0.8 0.7 0.7 0.4 0.4
Swiss franc 1.0 0.5 0.2 0.3 0.2 0.2 0.2 0.2
U.S.dollars 23.6 36.7 55.9 57.1 58.3 58.9 58.7 62.6
4. Average terms of new commitments
Official creditors
Interest (%) 4.9 5.3 3.8 3.1 4.2 3.3 2.4 1.5
Maturity (years) 24.7 22.0 26.9 24.9 25.1 25.4 24.8 24.6
Grace period (years) 7.1 5.6 6.3 6.7 6.5 7.2 7.1 6.2
Private creditors
Interest (%) 8.3 6.4 6.6 5.6 6.6 5.2 5.3 6.8
Maturity (years) 14.1 9.6 13.0 10.5 15.8 15.9 12.9 11.1
Grace period (years) 3.5 4.4 4.5 8.2 11.4 11.5 8.6 8.6
5. Major economic aggregates
Gross national income (GNI) 658,701 1,284,276 1,680,203 3,036,877 3,663,806 4,647,614 5,874,893 6,234,784
Exports of goods, services & income 176,389 416,035 636,015 1,379,877 1,705,209 2,108,858 2,451,581 2,114,647
Worker remit. & comp. of employees 3,084 8,918 15,799 50,293 57,433 71,066 85,456 84,949
Imports of goods, services & income 182,910 452,272 606,336 1,249,941 1,458,037 1,745,763 2,066,863 1,796,936
Profit remittances on FDI 5,159 15,893 31,679 47,095 55,744 72,985 79,889 70,430
International reserves 71,348 167,801 283,042 1,020,250 1,315,338 1,856,343 2,288,782 2,823,603
6. Ratios
External debt stocks to exports (%) 132.6 109.5 78.1 44.5 38.0 34.5 30.9 39.0
External debt stocks to GNI (%) 35.5 35.5 29.6 20.2 17.7 15.6 12.9 13.2
Debt service to exports (%) 17.7 12.7 11.5 6.3 5.5 4.8 3.9 4.8
Short-term to external debt stocks (%) 16.0 23.9 12.4 32.1 34.3 38.2 35.3 39.0
Multilateral to external debt stocks (%) 14.9 11.8 13.2 10.5 10.2 9.6 9.7 9.8
Reserves to external debt stocks (%) 30.5 36.8 57.0 166.0 202.8 255.4 302.4 342.0
Reserves to imports (months) 4.7 4.5 5.6 9.8 10.8 12.8 13.3 18.9
38
EAST ASIA AND PACIFIC
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
200
100 150
100
50
50
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
39
EUROPE AND CENTRAL ASIA
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 138,266 246,178 362,885 585,408 718,457 994,142 1,125,784 1,126,252
Long-term external debt 113,697 199,300 284,480 457,536 563,424 767,475 908,435 925,764
Public and publicly guaranteed 108,777 189,044 217,438 209,647 203,943 256,174 256,620 269,524
Private nonguaranteed 4,921 10,256 67,041 247,889 359,481 511,301 651,815 656,239
Use of IMF credit 467 15,628 21,739 18,810 13,088 8,550 14,334 35,103
Short-term external debt 24,102 31,250 56,666 109,061 141,945 218,117 203,015 165,385
interest arrears on long-term 4,726 7,818 8,508 4,098 1,542 1,587 1,770 1,873
Memorandum items
Principal arrears on long-term 654 28,017 14,077 3,545 2,020 2,136 2,938 4,864
Long-term public sector debt 108,020 188,556 216,905 208,991 203,318 255,248 255,183 267,884
Long-term private sector debt 5,677 10,745 67,574 248,545 360,106 512,227 653,252 657,880
Public & publicly guaranteed commitments 23,415 14,532 21,424 30,684 34,021 68,324 47,723 45,521
External debt flows
Disbursements 24,038 22,954 40,993 146,709 182,702 292,415 295,762 221,533
Long-term external debt 23,949 14,930 36,624 143,919 179,621 291,170 287,116 200,414
IMF purchases 89 8,024 4,369 2,789 3,081 1,245 8,646 21,119
Principal repayments 15,851 12,755 30,964 95,096 104,530 117,931 163,403 184,036
Long-term external debt 15,449 12,106 26,057 82,512 95,640 111,651 160,915 183,102
IMF repurchases 402 649 4,907 12,585 8,889 6,280 2,488 935
Net flows 1,507 14,141 18,626 69,969 113,613 250,206 117,074 -236
Long-term external debt 8,500 2,824 10,568 61,408 83,981 179,520 126,201 17,313
Short-term external debt -6,680 3,943 8,597 18,357 35,440 75,721 -15,285 -37,733
Interest payments 9,492 9,231 16,484 25,674 32,949 42,742 52,178 45,706
Long-term external debt 7,536 7,575 12,610 20,330 26,218 34,283 45,768 41,039
IMF charges 70 549 1,062 1,125 905 623 429 437
Short-term external debt 1,885 1,108 2,812 4,219 5,826 7,836 5,981 4,230
2. Other non-debt resource inflows
Foreign direct investment 688 5,599 9,386 51,115 92,297 133,195 160,127 85,053
Portfolio equity 89 248 993 6,667 12,279 27,006 -15,104 4,990
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 20.9 22.6 21.4 22.0 25.7
Japanese yen 6.4 8.2 5.2 3.3 3.4 2.9 3.6 3.5
Pound sterling 1.4 0.8 0.3 0.2 0.1 0.1 0.0 0.0
Swiss franc 5.8 2.7 0.3 0.5 1.1 1.0 1.1 0.5
U.S.dollars 35.0 47.6 64.2 71.0 68.7 71.7 70.7 67.8
4. Average terms of new commitments
Official creditors
Interest (%) 7.8 5.7 5.7 2.7 3.9 4.3 4.2 2.4
Maturity (years) 13.2 17.0 17.7 23.0 18.5 18.4 19.7 18.6
Grace period (years) 6.2 5.4 5.3 6.4 5.9 6.1 7.0 5.9
Private creditors
Interest (%) 8.5 6.5 8.7 5.4 5.9 5.9 5.8 6.2
Maturity (years) 11.9 6.2 10.2 8.0 7.6 7.4 7.7 6.4
Grace period (years) 6.6 2.6 7.5 5.9 6.1 5.2 5.5 5.9
5. Major economic aggregates
Gross national income (GNI) 935,756 753,413 686,230 1,645,761 2,007,226 2,595,979 3,205,318 2,519,190
Exports of goods, services & income 0 201,494 258,838 614,130 760,788 943,336 1,229,612 854,438
Worker remit. & comp. of employees 3,246 6,482 10,357 23,262 28,397 39,332 45,824 35,421
Imports of goods, services & income 0 221,617 245,288 608,477 777,586 1,026,817 1,304,038 899,745
Profit remittances on FDI 161 622 2,973 32,310 55,003 76,773 101,557 64,454
International reserves 0 42,638 67,171 311,761 483,365 709,471 651,631 677,650
6. Ratios
External debt stocks to exports (%) 0.0 122.2 140.2 95.3 94.4 105.4 91.6 131.8
External debt stocks to GNI (%) 14.8 32.7 52.9 35.6 35.8 38.3 35.1 44.7
Debt service to exports (%) 0.0 10.9 18.3 19.7 18.1 17.0 17.5 26.9
Short-term to external debt stocks (%) 17.4 12.7 15.6 18.6 19.8 21.9 18.0 14.7
Multilateral to external debt stocks (%) 9.6 7.6 8.0 6.5 5.6 4.6 4.3 5.2
Reserves to external debt stocks (%) 0.0 17.3 18.5 53.3 67.3 71.4 57.9 60.2
Reserves to imports (months) 0.0 2.3 3.3 6.1 7.5 8.3 6.0 9.0
40
EUROPE AND CENTRAL ASIA
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
100 100
75
50 50
25
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
41
LATIN AMERICA AND CARIBBEAN
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 441,198 608,666 751,080 740,598 736,620 835,365 890,515 912,980
Long-term external debt 349,923 459,179 631,268 624,393 635,470 699,415 749,904 773,100
Public and publicly guaranteed 325,178 371,875 389,547 410,589 394,105 406,740 420,086 432,115
Private nonguaranteed 24,745 87,303 241,722 213,804 241,365 292,675 329,817 340,984
Use of IMF credit 17,968 26,632 8,846 13,122 737 804 824 1,243
Short-term external debt 73,307 122,856 110,966 103,084 100,414 135,147 139,787 138,637
interest arrears on long-term 25,542 10,303 1,674 8,900 8,320 10,367 10,940 11,598
Memorandum items
Principal arrears on long-term 24,264 15,834 3,510 12,361 13,148 16,976 19,261 20,443
Long-term public sector debt 321,813 369,910 386,607 408,195 391,890 404,542 417,502 428,553
Long-term private sector debt 28,110 89,269 244,661 216,198 243,580 294,873 332,402 344,547
Public & publicly guaranteed commitments 25,845 49,943 66,082 55,252 50,587 53,069 61,868 82,039
External debt flows
Disbursements 32,291 89,784 119,852 107,092 135,421 152,589 164,602 157,299
Long-term external debt 27,558 74,013 116,343 106,500 134,857 152,340 164,388 156,849
IMF purchases 4,733 15,772 3,510 593 564 249 213 450
Principal repayments 21,790 43,123 124,162 122,010 150,113 106,039 109,691 103,963
Long-term external debt 18,138 40,290 109,925 93,838 137,430 105,819 109,518 103,910
IMF repurchases 3,651 2,832 14,237 28,172 12,683 220 173 53
Net flows 18,134 61,054 -5,226 814 -16,782 79,237 58,978 51,528
Long-term external debt 9,420 33,722 6,418 12,661 -2,573 46,521 54,870 52,940
Short-term external debt 7,633 14,392 -917 15,732 -2,090 32,687 4,067 -1,808
Interest payments 21,711 35,904 54,789 40,395 45,720 47,406 45,914 42,733
Long-term external debt 17,915 28,411 47,273 34,336 40,672 41,711 41,963 39,903
IMF charges 1,435 1,100 777 1,732 330 35 26 9
Short-term external debt 2,362 6,393 6,739 4,327 4,718 5,660 3,925 2,820
2. Other non-debt resource inflows
Foreign direct investment 8,121 30,202 79,040 72,223 71,954 109,405 127,864 73,622
Portfolio equity 2,464 5,216 -561 12,209 11,047 28,837 -9,688 41,584
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 9.5 10.7 11.3 10.1 11.1
Japanese yen 6.2 8.2 6.6 3.4 3.0 2.7 3.2 4.0
Pound sterling 1.6 1.1 0.6 0.2 0.3 0.2 0.1 0.4
Swiss franc 1.0 0.6 0.3 0.2 0.1 0.1 0.1 0.2
U.S.dollars 59.6 62.1 73.4 82.0 81.7 82.3 83.7 82.2
4. Average terms of new commitments
Official creditors
Interest (%) 7.0 7.6 5.9 4.4 5.4 5.2 3.6 2.1
Maturity (years) 18.1 14.2 12.5 18.8 18.9 18.2 20.6 18.8
Grace period (years) 4.9 4.1 2.8 4.9 5.4 5.0 5.3 6.3
Private creditors
Interest (%) 9.1 6.8 9.4 7.3 6.2 7.2 6.5 6.1
Maturity (years) 11.0 4.1 12.6 14.5 14.8 16.5 15.9 11.8
Grace period (years) 5.2 2.9 11.6 12.0 12.6 12.8 11.3 11.0
5. Major economic aggregates
Gross national income (GNI) 1,049,965 1,698,189 1,961,805 2,559,479 3,008,168 3,555,152 4,145,756 3,851,824
Exports of goods, services & income 177,594 289,620 442,911 667,094 799,235 912,208 1,045,060 819,368
Worker remit. & comp. of employees 5,681 13,318 20,164 50,119 59,197 63,117 64,620 56,879
Imports of goods, services & income 189,189 343,893 512,722 685,910 818,367 968,137 1,145,725 891,518
Profit remittances on FDI 7,323 14,909 22,787 53,318 76,781 90,221 94,413 75,275
International reserves 58,057 138,616 158,413 257,309 312,791 450,589 500,720 552,745
6. Ratios
External debt stocks to exports (%) 248.4 210.2 169.6 111.0 92.2 91.6 85.2 111.4
External debt stocks to GNI (%) 42.0 35.8 38.3 28.9 24.5 23.5 21.5 23.7
Debt service to exports (%) 24.5 27.3 40.4 24.3 24.9 16.8 14.9 17.9
Short-term to external debt stocks (%) 16.6 20.2 14.8 13.9 13.6 16.2 15.7 15.2
Multilateral to external debt stocks (%) 13.5 11.9 12.3 13.9 13.0 11.4 11.4 12.6
Reserves to external debt stocks (%) 13.2 22.8 21.1 34.7 42.5 53.9 56.2 60.5
Reserves to imports (months) 3.7 4.8 3.7 4.5 4.6 5.6 5.2 7.4
42
LATIN AMERICA AND CARIBBEAN
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
75 100
50
50
25
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
43
MIDDLE EAST AND NORTH AFRICA
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 136,835 161,737 139,240 145,466 136,977 148,337 137,937 141,321
Long-term external debt 115,594 141,185 116,552 122,671 115,075 123,047 116,911 118,719
Public and publicly guaranteed 114,176 140,298 112,582 115,909 108,458 116,424 110,254 112,569
Private nonguaranteed 1,418 887 3,970 6,762 6,616 6,623 6,657 6,150
Use of IMF credit 1,815 2,177 2,542 547 423 353 258 200
Short-term external debt 19,427 18,375 20,145 22,247 21,479 24,937 20,768 22,402
interest arrears on long-term 2,994 2,673 2,629 298 308 256 259 328
Memorandum items
Principal arrears on long-term 8,303 8,720 9,977 510 482 442 419 418
Long-term public sector debt 114,010 139,870 112,216 115,261 107,708 115,381 109,301 111,685
Long-term private sector debt 1,583 1,315 4,336 7,410 7,367 7,665 7,610 7,034
Public & publicly guaranteed commitments 15,023 12,036 10,205 13,471 12,011 10,740 8,575 10,874
External debt flows
Disbursements 13,189 11,547 9,247 14,791 11,917 14,799 11,891 13,543
Long-term external debt 13,124 10,958 9,223 14,791 11,917 14,721 11,845 13,541
IMF purchases 65 590 24 0 0 78 46 2
Principal repayments 12,070 11,418 10,936 14,875 24,885 14,379 16,307 12,925
Long-term external debt 11,674 11,029 10,698 14,130 24,734 14,213 16,172 12,862
IMF repurchases 397 390 238 745 150 166 135 64
Net flows 2,755 3,702 -3,016 177 -13,745 3,929 -8,587 2,182
Long-term external debt 1,450 -71 -1,475 661 -12,818 508 -4,327 679
Short-term external debt 1,636 3,573 -1,327 261 -777 3,509 -4,171 1,564
Interest payments 5,767 7,393 5,867 6,010 5,971 5,843 5,406 4,897
Long-term external debt 4,395 6,311 4,888 4,795 4,785 4,743 4,782 4,297
IMF charges 180 112 130 32 14 12 7 3
Short-term external debt 1,192 970 849 1,184 1,172 1,088 617 597
2. Other non-debt resource inflows
Foreign direct investment 561 871 3,878 16,763 27,228 27,601 29,295 24,350
Portfolio equity 5 32 252 2,410 963 -2,096 422 1,228
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 30.7 33.0 35.4 33.7 34.3
Japanese yen 7.3 9.8 11.1 9.3 8.7 8.3 10.4 9.7
Pound sterling 1.6 1.1 0.8 1.5 1.5 1.4 0.5 0.5
Swiss franc 1.2 1.0 1.1 1.4 1.4 1.2 1.1 1.2
U.S.dollars 44.2 42.2 49.5 43.3 41.3 38.9 38.5 37.8
4. Average terms of new commitments
Official creditors
Interest (%) 5.5 5.3 4.5 3.7 3.6 3.4 3.4 2.2
Maturity (years) 21.6 18.2 19.7 19.1 22.1 19.9 20.4 21.6
Grace period (years) 6.3 5.1 5.6 5.2 6.9 5.9 5.3 5.7
Private creditors
Interest (%) 8.9 7.0 7.1 5.6 6.8 5.9 8.6 7.7
Maturity (years) 7.5 9.5 8.0 8.0 10.9 8.4 5.8 7.2
Grace period (years) 2.3 3.7 4.5 6.1 7.8 6.2 5.6 6.5
5. Major economic aggregates
Gross national income (GNI) 221,824 273,070 362,858 539,603 623,450 761,228 926,486 919,356
Exports of goods, services & income 74,128 89,138 117,615 242,724 284,886 342,976 407,058 377,359
Worker remit. & comp. of employees 11,393 12,693 12,042 23,647 25,125 31,041 34,699 32,291
Imports of goods, services & income 84,443 91,459 105,104 175,820 196,692 249,937 326,047 276,161
Profit remittances on FDI 614 941 1,721 5,200 5,377 5,974 7,258 5,261
International reserves 15,859 38,387 49,482 148,207 186,054 234,053 277,486 301,670
6. Ratios
External debt stocks to exports (%) 184.6 181.4 118.4 59.9 48.1 43.2 33.9 37.4
External debt stocks to GNI (%) 61.7 59.2 38.4 27.0 22.0 19.5 14.9 15.4
Debt service to exports (%) 24.1 21.1 14.3 8.6 10.8 5.9 5.3 4.7
Short-term to external debt stocks (%) 14.2 11.4 14.5 15.3 15.7 16.8 15.1 15.9
Multilateral to external debt stocks (%) 11.3 14.1 16.6 17.8 18.8 20.7 22.5 24.5
Reserves to external debt stocks (%) 11.6 23.7 35.5 101.9 135.8 157.8 201.2 213.5
Reserves to imports (months) 2.3 5.0 5.6 10.1 11.4 11.2 10.2 13.1
44
MIDDLE EAST AND NORTH AFRICA
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
20
100
10
50
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
45
SOUTH ASIA
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 126,331 152,282 161,045 188,169 232,047 286,330 318,864 339,983
Long-term external debt 109,312 137,937 153,068 174,110 201,149 242,464 264,016 282,407
Public and publicly guaranteed 107,585 129,636 134,554 116,079 126,388 143,651 154,174 159,965
Private nonguaranteed 1,727 8,301 18,514 58,031 74,761 98,813 109,843 122,442
Use of IMF credit 4,686 5,293 1,918 2,208 2,232 2,277 5,374 9,081
Short-term external debt 12,333 9,051 6,059 11,851 28,665 41,589 49,473 48,495
interest arrears on long-term 19 59 120 30 18 36 32 46
Memorandum items
Principal arrears on long-term 35 81 276 68 90 150 86 142
Long-term public sector debt 106,814 128,962 133,781 115,907 126,237 143,517 153,980 159,762
Long-term private sector debt 2,498 8,975 19,287 58,203 74,912 98,947 110,037 122,645
Public & publicly guaranteed commitments 13,853 8,435 12,817 9,332 10,948 20,520 12,319 9,551
External debt flows
Disbursements 12,000 12,071 14,192 24,681 38,514 71,418 47,917 35,007
Long-term external debt 10,156 11,869 13,998 24,425 38,343 71,330 44,474 31,030
IMF purchases 1,844 202 195 256 171 88 3,443 3,978
Principal repayments 5,219 11,610 9,798 22,032 15,134 35,068 27,301 15,188
Long-term external debt 4,077 9,605 9,315 21,756 14,873 34,911 27,033 14,832
IMF repurchases 1,142 2,006 483 275 261 157 268 356
Net flows 8,331 2,497 3,456 4,933 40,206 49,256 28,504 18,827
Long-term external debt 6,079 2,264 4,683 2,669 23,470 36,419 17,441 16,198
Short-term external debt 1,550 2,037 -938 2,284 16,826 12,906 7,888 -992
Interest payments 6,026 6,524 5,659 5,674 6,355 8,982 9,021 7,100
Long-term external debt 4,577 5,666 5,277 5,202 5,736 6,910 7,288 6,360
IMF charges 247 234 58 26 26 23 23 76
Short-term external debt 1,202 624 323 446 592 2,048 1,710 664
2. Other non-debt resource inflows
Foreign direct investment 540 2,931 4,358 11,185 26,037 32,310 48,715 38,311
Portfolio equity 0 1,585 2,518 12,406 10,388 36,093 -15,836 20,538
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 7.4 7.4 7.1 6.2 6.1
Japanese yen 12.6 17.0 15.3 19.1 18.4 17.2 20.1 18.9
Pound sterling 5.0 3.6 2.8 2.2 1.9 1.5 1.3 1.2
Swiss franc 0.6 0.7 0.3 0.3 0.2 0.2 0.2 0.1
U.S.dollars 53.6 46.0 56.6 54.4 55.6 56.7 54.9 56.0
4. Average terms of new commitments
Official creditors
Interest (%) 3.7 3.7 5.1 2.0 3.1 3.5 1.7 2.0
Maturity (years) 28.9 25.8 23.4 28.1 26.5 25.8 27.4 24.1
Grace period (years) 8.1 7.7 6.4 8.0 6.3 6.9 7.6 6.9
Private creditors
Interest (%) 6.9 5.8 4.4 5.2 6.4 6.6 3.2 6.6
Maturity (years) 14.8 6.0 5.3 5.4 9.3 9.3 8.7 6.3
Grace period (years) 7.1 3.9 4.6 4.4 8.1 4.7 3.8 4.7
5. Major economic aggregates
Gross national income (GNI) 400,537 473,560 603,639 1,047,164 1,185,549 1,501,975 1,530,319 1,644,307
Exports of goods, services & income 35,587 61,117 88,739 201,500 248,231 299,599 364,779 325,657
Worker remit. & comp. of employees 5,571 10,005 17,206 33,924 42,523 54,041 71,598 74,850
Imports of goods, services & income 53,492 86,693 116,954 258,918 316,030 383,023 496,278 408,636
Profit remittances on FDI 93 392 721 7,979 11,542 14,851 14,740 3,905
International reserves 8,896 30,704 47,221 156,713 198,414 302,179 275,856 314,494
6. Ratios
External debt stocks to exports (%) 355.0 249.2 181.5 93.4 93.5 95.6 87.4 104.4
External debt stocks to GNI (%) 31.5 32.2 26.7 18.0 19.6 19.1 20.8 20.7
Debt service to exports (%) 31.6 29.7 17.4 13.7 8.7 14.7 10.0 6.8
Short-term to external debt stocks (%) 9.8 5.9 3.8 6.3 12.4 14.5 15.5 14.3
Multilateral to external debt stocks (%) 30.4 37.3 37.9 37.0 32.7 29.1 27.9 27.7
Reserves to external debt stocks (%) 7.0 20.2 29.3 83.3 85.5 105.5 86.5 92.5
Reserves to imports (months) 2.0 4.3 4.8 7.3 7.5 9.5 6.7 9.2
46
SOUTH ASIA
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
50 100
25 50
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
47
SUB-SAHARAN AFRICA
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 176,411 235,842 211,158 214,467 170,444 188,889 195,527 198,976
Long-term external debt 149,115 186,684 172,882 177,556 126,028 140,814 143,103 156,260
Public and publicly guaranteed 143,851 174,924 161,534 168,909 116,747 124,380 128,772 138,861
Private nonguaranteed 5,264 11,760 11,348 8,648 9,281 16,434 14,330 17,399
Use of IMF credit 6,606 8,654 6,734 5,947 3,140 3,341 3,963 6,261
Short-term external debt 20,689 40,504 31,542 30,963 41,275 44,734 48,461 36,456
interest arrears on long-term 9,522 20,734 13,570 14,250 15,155 14,565 13,650 11,654
Memorandum items
Principal arrears on long-term 17,760 41,062 25,534 24,027 24,659 22,951 21,439 19,911
Long-term public sector debt 143,664 174,798 160,627 168,811 116,711 124,353 128,754 138,842
Long-term private sector debt 5,451 11,886 12,255 8,746 9,318 16,461 14,349 17,418
Public & publicly guaranteed commitments 11,448 9,157 8,356 23,638 12,247 18,155 17,401 26,644
External debt flows
Disbursements 10,312 14,004 10,104 16,050 13,144 24,064 14,390 24,688
Long-term external debt 9,652 11,010 9,580 15,727 12,847 23,710 12,977 22,065
IMF purchases 660 2,994 525 323 298 354 1,413 2,623
Principal repayments 5,568 9,419 9,016 12,131 17,102 13,548 8,986 9,605
Long-term external debt 4,620 7,048 8,556 11,384 16,745 13,251 8,299 9,220
IMF repurchases 947 2,371 460 747 357 296 687 385
Net flows 7,001 7,502 -1,797 6,947 5,450 14,565 10,046 5,073
Long-term external debt 5,031 3,963 1,023 4,343 -3,898 10,459 4,678 12,845
Short-term external debt 2,257 2,917 -2,886 3,028 9,407 4,049 4,642 -10,010
Interest payments 5,286 5,337 4,443 7,961 4,302 5,240 5,010 3,981
Long-term external debt 4,348 3,975 3,319 7,322 3,420 4,063 3,596 3,261
IMF charges 238 559 43 27 39 14 494 28
Short-term external debt 701 803 1,081 612 842 1,163 921 692
2. Other non-debt resource inflows
Foreign direct investment 1,187 4,258 6,543 17,954 20,155 28,514 34,498 30,266
Portfolio equity 393 2,952 4,164 8,121 16,805 10,147 -5,647 9,966
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 19.8 22.8 21.8 19.4 18.8
Japanese yen 4.1 5.5 4.1 3.6 3.2 2.7 3.8 3.2
Pound sterling 5.5 3.8 2.1 4.2 1.8 1.6 1.1 1.2
Swiss franc 2.3 2.1 1.5 1.9 2.5 2.5 2.6 2.5
U.S.dollars 36.5 40.7 61.4 55.0 51.8 51.9 53.6 53.7
4. Average terms of new commitments
Official creditors
Interest (%) 3.5 1.8 1.1 4.4 1.5 1.4 1.8 2.6
Maturity (years) 28.4 31.7 36.3 21.4 29.7 31.5 30.5 24.8
Grace period (years) 7.7 8.7 9.1 4.5 7.3 7.9 8.1 6.4
Private creditors
Interest (%) 8.1 5.7 5.8 5.6 6.8 6.7 4.0 5.8
Maturity (years) 11.6 12.4 7.7 7.2 11.3 8.3 8.1 8.3
Grace period (years) 2.7 1.9 2.1 1.9 4.9 5.3 1.3 4.1
5. Major economic aggregates
Gross national income (GNI) 281,623 310,096 319,713 601,468 705,045 799,087 914,091 867,375
Exports of goods, services & income 78,552 90,831 114,029 241,016 279,380 329,764 398,746 299,420
Worker remit. & comp. of employees 1,785 3,178 4,627 9,400 12,651 18,568 21,345 20,810
Imports of goods, services & income 86,132 111,987 118,497 242,962 290,892 365,193 436,288 346,963
Profit remittances on FDI 2,768 3,952 7,860 17,244 27,734 38,606 43,082 24,479
International reserves 15,362 20,652 36,505 82,407 114,876 141,827 152,687 150,820
6. Ratios
External debt stocks to exports (%) 224.6 259.6 185.2 89.0 61.0 57.3 49.0 66.5
External debt stocks to GNI (%) 62.6 76.1 66.0 35.7 24.2 23.6 21.4 22.9
Debt service to exports (%) 13.8 16.2 11.8 8.3 7.7 5.7 3.5 5.9
Short-term to external debt stocks (%) 11.7 17.2 14.9 14.4 24.2 23.7 24.8 18.3
Multilateral to external debt stocks (%) 21.6 23.1 25.8 33.8 25.3 25.3 25.6 27.3
Reserves to external debt stocks (%) 8.7 8.8 17.3 38.4 67.4 75.1 78.1 75.8
Reserves to imports (months) 2.1 2.2 3.7 4.1 4.7 4.7 4.2 5.2
48
SUB-SAHARAN AFRICA
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
100
20
50
10
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
49
LOW-INCOME COUNTRIES
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 103,958 130,267 125,357 135,485 110,475 122,413 129,531 135,593
Long-term external debt 90,375 112,369 107,322 118,661 93,450 104,036 109,987 116,809
Public and publicly guaranteed 88,993 109,551 104,423 116,422 90,584 99,923 104,501 110,863
Private nonguaranteed 1,383 2,818 2,899 2,239 2,866 4,113 5,485 5,946
Use of IMF credit 5,337 6,760 5,608 5,431 3,079 3,444 4,342 5,951
Short-term external debt 8,245 11,139 12,427 11,393 13,946 14,933 15,202 12,833
interest arrears on long-term 3,592 7,765 7,859 7,245 7,737 7,746 6,807 5,869
Memorandum items
Principal arrears on long-term 8,561 19,081 16,091 14,317 14,945 15,944 15,004 15,933
Long-term public sector debt 88,399 109,056 104,095 116,259 90,475 99,799 104,376 110,730
Long-term private sector debt 1,976 3,313 3,227 2,402 2,975 4,237 5,610 6,079
Public & publicly guaranteed commitments 8,205 5,089 5,179 6,974 8,549 10,458 12,106 11,050
External debt flows
Disbursements 7,123 8,777 4,879 7,032 7,374 9,279 10,339 13,518
Long-term external debt 6,597 5,986 4,420 6,574 6,909 8,851 8,715 11,666
IMF purchases 525 2,792 459 457 465 428 1,624 1,853
Principal repayments 3,128 5,364 2,833 3,031 2,581 3,031 3,397 3,685
Long-term external debt 2,196 3,119 2,388 2,449 2,314 2,819 2,784 3,386
IMF repurchases 932 2,245 445 583 267 213 613 299
Net flows 4,715 3,722 1,516 3,644 6,854 7,225 8,151 8,403
Long-term external debt 4,401 2,867 2,032 4,126 4,595 6,032 5,932 8,280
Short-term external debt 720 309 -530 -357 2,061 978 1,208 -1,431
Interest payments 1,813 2,124 1,382 1,264 1,308 1,800 2,106 1,478
Long-term external debt 1,321 1,470 1,034 1,054 1,005 1,501 1,413 1,298
IMF charges 207 490 45 23 38 14 497 33
Short-term external debt 285 164 303 186 265 286 196 147
2. Other non-debt resource inflows
Foreign direct investment 944 1,540 2,759 5,428 7,157 12,812 14,526 12,033
Portfolio equity 5 -10 5 59 70 144 -27 -36
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.3 11.1 11.3 10.1 9.8
Japanese yen 9.0 11.4 10.8 8.1 9.8 9.0 9.9 9.0
Pound sterling 4.0 2.9 2.3 1.8 1.5 1.3 1.0 1.0
Swiss franc 0.9 0.9 0.7 0.6 0.7 0.6 0.5 0.4
U.S.dollars 37.8 41.3 51.7 55.8 49.7 49.2 49.6 49.7
4. Average terms of new commitments
Official creditors
Interest (%) 2.0 1.7 1.2 1.3 1.5 1.5 1.5 1.3
Maturity (years) 33.9 34.6 36.3 34.9 34.0 34.2 33.6 31.6
Grace period (years) 9.0 9.4 9.3 8.7 8.6 8.7 8.8 7.9
Private creditors
Interest (%) 7.9 4.3 5.9 3.7 6.0 7.7 2.9 3.1
Maturity (years) 11.6 6.1 10.5 16.5 16.3 10.2 12.9 11.9
Grace period (years) 2.2 1.2 2.8 4.2 3.2 8.6 2.8 2.5
5. Major economic aggregates
Gross national income (GNI) 148,506 148,519 170,831 252,593 282,954 332,638 397,688 417,914
Exports of goods, services & income 18,694 29,201 36,397 66,174 81,340 93,314 111,542 100,756
Worker remit. & comp. of employees 1,470 2,189 4,144 10,071 12,992 16,574 21,962 22,535
Imports of goods, services & income 32,280 47,662 51,937 91,682 108,767 134,406 157,798 132,588
Profit remittances on FDI 581 287 679 3,941 4,979 4,677 4,572 3,628
International reserves 5,892 10,975 11,706 22,281 26,240 30,928 32,032 40,649
6. Ratios
External debt stocks to exports (%) 556.1 446.1 344.4 204.7 135.8 131.2 116.1 134.6
External debt stocks to GNI (%) 70.0 87.7 73.4 53.6 39.0 36.8 32.6 32.4
Debt service to exports (%) 26.4 25.6 11.6 6.5 4.8 5.2 4.9 5.1
Short-term to external debt stocks (%) 7.9 8.6 9.9 8.4 12.6 12.2 11.7 9.5
Multilateral to external debt stocks (%) 32.7 39.4 46.2 59.3 49.8 49.9 50.2 50.6
Reserves to external debt stocks (%) 5.7 8.4 9.3 16.4 23.8 25.3 24.7 30.0
Reserves to imports (months) 2.2 2.8 2.7 2.9 2.9 2.8 2.4 3.7
50
LOW-INCOME COUNTRIES
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
10 200
150
5 100
50
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
51
MIDDLE-INCOME COUNTRIES
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
1. Summary external debt data
External debt stocks 1,149,058 1,729,983 1,996,738 2,353,247 2,532,775 3,057,592 3,295,853 3,409,521
Long-term external debt 941,793 1,357,298 1,669,543 1,846,168 1,973,636 2,317,874 2,562,063 2,642,391
Public and publicly guaranteed 883,559 1,151,625 1,182,691 1,166,759 1,120,275 1,208,341 1,243,521 1,296,127
Private nonguaranteed 58,234 205,673 486,852 679,409 853,361 1,109,532 1,318,541 1,346,264
Use of IMF credit 28,289 52,961 52,623 43,748 16,780 12,097 20,573 46,227
Short-term external debt 178,976 319,724 274,573 463,331 542,359 727,621 713,217 720,903
interest arrears on long-term 41,096 36,774 23,978 21,419 18,598 20,186 21,000 20,857
Memorandum items
Principal arrears on long-term 45,420 85,575 44,743 32,114 30,126 32,041 34,617 35,624
Long-term public sector debt 878,367 1,147,052 1,177,149 1,162,431 1,116,112 1,203,705 1,238,032 1,285,038
Long-term private sector debt 63,426 210,246 492,394 683,736 857,525 1,114,169 1,324,031 1,357,353
Public & publicly guaranteed commitments 104,726 135,443 140,667 150,376 131,472 179,528 164,346 205,668
External debt flows
Disbursements 114,196 200,691 230,939 377,253 451,264 636,731 612,765 523,955
Long-term external debt 107,273 175,700 221,283 373,750 447,615 635,146 600,629 497,462
IMF purchases 6,924 24,992 9,656 3,504 3,649 1,585 12,137 26,493
Principal repayments 76,014 115,201 229,878 331,971 380,667 359,995 395,795 404,549
Long-term external debt 69,121 108,808 209,730 288,431 350,114 353,053 392,609 403,004
IMF repurchases 6,893 6,393 20,148 43,539 30,553 6,942 3,187 1,545
Net flows 51,643 139,263 -6,692 120,133 152,447 460,004 201,753 127,235
Long-term external debt 38,152 66,892 11,553 85,319 97,501 282,092 208,020 94,458
Short-term external debt 13,461 53,773 -7,752 74,850 81,850 183,268 -15,218 7,829
Interest payments 58,971 82,887 111,040 102,325 116,001 133,910 138,462 122,846
Long-term external debt 47,596 66,007 92,710 83,789 94,084 107,671 118,845 108,907
IMF charges 2,208 2,133 2,818 3,254 1,584 697 482 521
Short-term external debt 9,166 14,748 15,512 15,282 20,333 25,542 19,135 13,418
2. Other non-debt resource inflows
Foreign direct investment 20,665 93,117 145,614 268,162 336,180 495,319 572,583 342,055
Portfolio equity 3,385 13,789 13,950 67,439 107,603 134,937 -53,166 108,193
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 14.8 15.4 15.9 14.6 15.4
Japanese yen 11.1 13.2 12.1 10.3 10.2 9.4 11.2 10.7
Pound sterling 2.3 1.4 0.9 1.0 0.7 0.6 0.4 0.5
Swiss franc 1.8 1.1 0.4 0.6 0.6 0.6 0.6 0.5
U.S.dollars 45.2 48.6 63.8 66.6 66.5 67.4 67.6 67.4
4. Average terms of new commitments
Official creditors
Interest (%) 5.8 6.1 5.2 3.9 4.3 4.0 3.2 2.2
Maturity (years) 21.3 18.3 18.5 20.6 21.3 21.5 22.1 20.4
Grace period (years) 6.3 5.1 4.6 5.3 5.9 6.1 6.3 6.0
Private creditors
Interest (%) 8.5 6.5 8.1 6.3 6.2 6.3 6.0 6.3
Maturity (years) 11.7 7.5 11.3 11.2 12.0 10.8 11.7 10.0
Grace period (years) 5.0 3.5 8.4 8.7 9.7 7.9 8.1 8.7
5. Major economic aggregates
Gross national income (GNI) 3,386,550 4,642,072 5,441,751 9,169,241 10,897,697 13,510,580 16,175,725 15,595,681
Exports of goods, services & income 633,948 1,112,250 1,616,680 3,263,528 3,976,815 4,817,919 5,751,219 4,656,643
Worker remit. & comp. of employees 29,291 52,404 76,052 180,573 212,333 260,591 301,581 282,665
Imports of goods, services & income 686,368 1,253,317 1,651,272 3,116,709 3,729,572 4,572,744 5,575,660 4,453,692
Profit remittances on FDI 15,537 36,422 67,062 159,206 227,201 294,734 336,367 240,176
International reserves 172,630 427,824 630,128 1,954,365 2,584,597 3,663,535 4,115,129 4,780,334
6. Ratios
External debt stocks to exports (%) 181.3 155.5 123.5 72.1 63.7 63.5 57.3 73.2
External debt stocks to GNI (%) 33.9 37.3 36.7 25.7 23.2 22.6 20.4 21.9
Debt service to exports (%) 21.3 17.8 21.1 13.3 12.6 10.3 9.3 11.4
Short-term to external debt stocks (%) 15.6 18.5 13.8 19.7 21.4 23.8 21.6 21.1
Multilateral to external debt stocks (%) 14.4 13.1 13.4 12.5 11.6 10.2 10.0 10.8
Reserves to external debt stocks (%) 15.0 24.7 31.6 83.0 102.0 119.8 124.9 140.2
Reserves to imports (months) 3.0 4.1 4.6 7.5 8.3 9.6 8.9 12.9
52
MIDDLE-INCOME COUNTRIES
(US$ million, unless otherwise indicated)
1990 1995 2000 2005 2006 2007 2008 2009
100
250
50
0 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009
Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt
53
.
Country Tables
55
AFGHANISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. .. .. .. 929 1,974 2,089 2,328
Long-term external debt .. .. .. .. 911 1,894 1,985 2,203
Public and publicly guaranteed .. .. .. .. 911 1,894 1,985 2,203
Private nonguaranteed .. .. .. .. 0 0 0 0
Use of IMF credit .. 0 0 0 0 59 87 106
Short-term external debt .. .. .. .. 18 21 17 20
interest arrears on long-term .. .. .. .. 18 21 17 20
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. .. .. .. 87 89 56 54
/RQJWHUPSXEOLFVHFWRUGHEW .. .. .. .. 911 1,894 1,985 2,203
/RQJWHUPSULYDWHVHFWRUGHEW .. .. .. .. 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. .. .. .. 130 37 58 0
External debt flows
Disbursements .. .. .. .. 146 202 132 130
Long-term external debt .. .. .. .. 146 147 96 112
IMF purchases .. 0 0 0 0 55 36 17
Principal repayments .. .. .. .. 3 1 1 3
Long-term external debt .. .. .. .. 3 1 1 3
IMF repurchases .. 0 0 0 0 0 0 0
Net flows .. .. .. .. 143 201 131 126
Long-term external debt .. .. .. .. 143 146 95 109
Short-term external debt .. .. .. .. 0 0 0 0
Interest payments .. .. .. .. 6 3 6 7
Long-term external debt .. .. .. .. 6 3 6 7
IMF charges .. 0 0 0 0 0 0 1
Short-term external debt .. .. .. .. 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment .. .. .. .. 238 243 300 185
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. .. 0.0 0.0 0.0 0.0
Japanese yen .. .. .. .. 0.0 0.0 0.0 0.0
Pound sterling .. .. .. .. 2.8 1.3 0.0 0.0
Swiss franc .. .. .. .. 0.0 0.0 0.0 0.0
U.S.dollars .. .. .. .. 63.3 74.5 73.0 66.1
4. Average terms of new commitments
Official creditors
Interest (%) .. .. .. .. 1.2 1.4 0.5 0.0
Maturity (years) .. .. .. .. 39.8 31.6 34.6 0.0
Grace period (years) .. .. .. .. 10.3 8.1 10.0 0.0
Private creditors
Interest (%) .. .. .. .. 0.0 0.0 0.0 0.0
Maturity (years) .. .. .. .. 0.0 0.0 0.0 0.0
Grace period (years) .. .. .. .. 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. .. .. .. 8,209 10,184 10,644 ..
Exports of goods, services & income .. .. .. .. 3,714 3,791 4,367 2,825
Worker remit. & comp. of employees .. .. .. .. .. .. .. ..
Imports of goods, services & income .. .. .. .. .. 5,746 5,603 ..
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. .. .. .. .. .. ..
International reserves .. .. .. .. .. .. .. ..
6. Ratios
External debt stocks to exports (%) .. .. .. .. 25.0 52.1 47.8 82.4
External debt stocks to GNI (%) .. .. .. .. 11.3 19.4 19.6 ..
Debt service to exports (%) .. .. .. .. 0.2 0.1 0.2 0.4
Short-term to external debt stocks (%) .. .. .. .. 2.0 1.1 0.8 0.9
Multilateral to external debt stocks (%) .. .. .. .. 70.4 41.5 43.3 47.7
Reserves to external debt stocks (%) .. .. .. .. .. .. .. ..
Reserves to imports (months) .. .. .. .. .. .. .. ..
56
AFGHANISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. .. .. .. 95 842 52 1
Total amount forgiven .. .. .. .. 0 21 52 4
Debt buyback .. .. .. .. 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 7 17 31 43 94 104 107 99
Interest 12 14 22 21 64 61 59 54
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data include the effects of the 2006 Paris Club rescheduling. Data for 2007, 2008, and 2009 include the effects of Enhanced HIPC Initiative, in the amount of
$1,774 in thousands, $3,537 in thousands, and $3,523 in thousands respectively.
57
ALBANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 456 1,061 2,052 2,439 2,887 3,942 4,719
Long-term external debt .. 330 936 1,805 1,960 2,287 2,932 3,813
Public and publicly guaranteed .. 330 921 1,379 1,601 1,829 2,264 2,829
Private nonguaranteed .. 0 15 426 359 458 668 983
Use of IMF credit .. 65 88 92 93 90 80 71
Short-term external debt .. 62 37 155 386 511 930 835
interest arrears on long-term .. 2 3 1 1 1 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 27 271 16 16 17 1 0
/RQJWHUPSXEOLFVHFWRUGHEW .. 330 920 1,379 1,601 1,829 2,264 2,829
/RQJWHUPSULYDWHVHFWRUGHEW .. 0 16 426 359 458 668 983
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 183 173 225 311 280 610 356
External debt flows
Disbursements .. 80 138 512 208 312 821 776
Long-term external debt .. 70 120 500 201 305 813 772
IMF purchases .. 11 19 12 7 7 8 4
Principal repayments .. 2 16 50 158 92 96 172
Long-term external debt .. 0 9 41 147 77 80 158
IMF repurchases .. 1 7 9 11 14 15 14
Net flows .. -99 130 616 281 344 1,145 509
Long-term external debt .. 69 110 459 54 227 733 614
Short-term external debt .. -178 8 154 231 124 420 -95
Interest payments .. 9 11 30 47 60 68 92
Long-term external debt .. 5 8 25 29 34 50 81
IMF charges .. 1 1 0 1 1 1 1
Short-term external debt .. 3 2 4 17 26 17 11
2. Other non-debt resource inflows
Foreign direct investment .. 70 143 262 325 662 973 978
Portfolio equity .. 0 0 .. .. .. 23 4
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 28.6 32.3 36.8 48.5 55.5
Japanese yen .. 2.5 3.2 3.9 3.4 2.9 2.8 2.1
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 60.7 72.5 58.3 54.3 50.1 39.4 33.3
4. Average terms of new commitments
Official creditors
Interest (%) .. 3.4 3.5 2.7 3.4 4.3 1.9 2.3
Maturity (years) .. 25.4 29.7 21.3 20.2 20.7 28.3 16.4
Grace period (years) .. 7.5 10.5 7.2 6.6 5.3 8.3 6.4
Private creditors
Interest (%) .. 3.0 0.0 0.0 0.3 5.3 6.2 11.0
Maturity (years) .. 22.7 0.0 0.0 29.9 11.2 15.4 3.3
Grace period (years) .. 11.7 0.0 0.0 18.8 1.7 6.0 3.0
5. Major economic aggregates
Gross national income (GNI) .. 2,468 3,790 8,541 9,386 11,136 12,977 11,724
Exports of goods, services & income .. 376 819 2,048 2,629 3,407 4,307 3,836
Worker remit. & comp. of employees .. 427 598 1,290 1,359 1,468 1,495 1,317
Imports of goods, services & income .. 865 1,509 3,913 4,569 5,989 7,689 7,018
Profit remittances on FDI .. 4 0 2 5 9 285 401
Current account balance .. -12 -156 -571 -671 -1,151 -2,002 -1,875
International reserves .. 265 646 1,440 1,813 2,162 2,364 2,369
6. Ratios
External debt stocks to exports (%) .. 121.5 129.5 100.2 92.8 84.7 91.5 123.0
External debt stocks to GNI (%) .. 18.5 28.0 24.0 26.0 25.9 30.4 40.3
Debt service to exports (%) .. 2.8 3.3 3.9 7.8 4.5 3.8 6.9
Short-term to external debt stocks (%) .. 13.7 3.5 7.6 15.8 17.7 23.6 17.7
Multilateral to external debt stocks (%) .. 25.1 40.2 42.6 42.6 42.3 34.1 31.9
Reserves to external debt stocks (%) .. 58.1 60.9 70.2 74.3 74.9 60.0 50.2
Reserves to imports (months) .. 3.7 5.1 4.4 4.8 4.3 3.7 4.1
58
ALBANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 6 28 10 9 0 8 41
Total amount forgiven .. 116 0 0 2 0 0 0
Debt buyback .. 30 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 112 124 134 141 145 152 142 146
Interest 35 37 37 36 34 31 28 26
Private creditors
Principal 195 163 437 144 171 99 79 106
Interest 75 71 34 28 23 19 15 11
Notes:
Long-term private nonguaranteed debt data are reported by the Bank of Albania for the first time. Short-term debt is revised based on Central Bank data from
2005.
59
ALGERIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 28,149 33,053 25,389 16,873 5,722 5,794 5,825 5,345
Long-term external debt 26,688 31,314 23,449 16,357 5,181 5,045 4,522 3,853
Public and publicly guaranteed 26,688 31,314 23,449 15,491 3,877 3,896 3,078 2,871
Private nonguaranteed 0 0 0 866 1,304 1,148 1,444 982
Use of IMF credit 670 1,478 1,718 0 0 0 0 0
Short-term external debt 791 261 222 516 541 750 1,304 1,492
interest arrears on long-term 0 3 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1 1 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 26,608 31,226 23,328 15,316 3,817 3,788 2,997 2,798
/RQJWHUPSULYDWHVHFWRUGHEW 80 89 122 1,040 1,364 1,256 1,525 1,055
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 8,054 2,427 1,419 331 212 94 0 5
External debt flows
Disbursements 7,017 4,157 1,215 1,239 853 471 580 194
Long-term external debt 7,017 3,683 1,215 1,239 853 471 580 194
IMF purchases 0 475 0 0 0 0 0 0
Principal repayments 6,780 2,419 2,813 5,057 12,791 1,122 1,060 887
Long-term external debt 6,780 2,248 2,721 4,445 12,791 1,122 1,060 887
IMF repurchases 0 171 93 612 0 0 0 0
Net flows -811 1,361 -1,572 -3,733 -11,914 -443 73 -504
Long-term external debt 237 1,435 -1,506 -3,207 -11,939 -652 -481 -693
Short-term external debt -1,049 -378 27 85 25 209 554 189
Interest payments 2,025 1,832 1,655 921 626 224 191 140
Long-term external debt 1,784 1,741 1,552 888 610 202 161 122
IMF charges 62 69 92 18 1 0 0 0
Short-term external debt 179 22 10 15 15 22 31 18
2. Other non-debt resource inflows
Foreign direct investment 0 .. 438 1,081 1,795 1,662 2,646 2,847
Portfolio equity 0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 40.5 58.4 61.9 60.9 62.5
Japanese yen 15.1 13.1 14.4 8.2 6.1 4.8 5.4 4.5
Pound sterling 1.5 0.9 1.0 1.4 0.0 0.0 0.0 0.0
Swiss franc 0.8 0.7 0.5 0.8 0.1 0.1 0.0 0.0
U.S.dollars 33.5 38.0 44.4 40.9 30.0 26.8 27.6 26.9
4. Average terms of new commitments
Official creditors
Interest (%) 7.0 6.2 6.2 3.2 0.5 0.9 0.0 2.0
Maturity (years) 16.8 11.7 14.9 12.9 17.5 14.7 0.0 21.8
Grace period (years) 4.0 3.3 4.1 3.6 3.4 7.7 0.0 6.7
Private creditors
Interest (%) 8.9 7.2 6.2 2.6 3.5 4.6 0.0 0.0
Maturity (years) 6.6 8.9 7.4 9.6 12.0 6.0 0.0 0.0
Grace period (years) 2.0 1.9 1.9 2.0 3.1 0.9 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 59,955 39,574 52,080 97,259 112,669 134,004 169,689 139,577
Exports of goods, services & income 13,535 .. .. 50,270 59,740 67,240 87,210 ..
Worker remit. & comp. of employees 352 1,120 790 2,060 1,610 2,120 2,202 2,193
Imports of goods, services & income 12,448 .. .. 24,640 25,460 33,180 49,140 ..
Profit remittances on FDI 151 .. .. .. .. .. .. ..
Current account balance 1,420 .. .. .. .. .. .. ..
International reserves 2,703 4,164 13,556 59,167 81,463 114,972 148,099 155,112
6. Ratios
External debt stocks to exports (%) 208.0 .. .. 33.6 9.6 8.6 6.7 ..
External debt stocks to GNI (%) 47.0 83.5 48.8 17.3 5.1 4.3 3.4 3.8
Debt service to exports (%) 65.1 .. .. 11.9 22.5 2.0 1.4 ..
Short-term to external debt stocks (%) 2.8 0.8 0.9 3.1 9.5 12.9 22.4 27.9
Multilateral to external debt stocks (%) 7.2 11.8 16.2 14.5 2.5 2.3 0.2 0.2
Reserves to external debt stocks (%) 9.6 12.6 53.4 350.7 1,423.6 1,984.3 2,542.3 2,901.8
Reserves to imports (months) 2.6 .. .. 28.8 38.4 41.6 36.2 ..
60
ALGERIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 5,096 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 478 223 205 193 214 185 152 134
Interest 47 40 36 32 28 23 20 16
Private creditors
Principal 450 357 516 132 94 80 79 53
Interest 45 33 24 17 13 10 7 5
Notes:
Short-term debt data are reported by the country.
61
ANGOLA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 8,592 11,500 9,408 11,822 9,469 11,518 15,132 16,715
Long-term external debt 7,603 9,543 8,085 9,506 7,337 9,247 12,713 13,722
Public and publicly guaranteed 7,603 9,543 8,085 9,506 7,337 9,247 12,713 13,722
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 0 0 0 0 0 0 0 359
Short-term external debt 989 1,958 1,323 2,316 2,132 2,271 2,419 2,634
interest arrears on long-term 204 1,232 874 577 161 90 71 90
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 496 4,190 2,853 1,877 700 351 279 361
/RQJWHUPSXEOLFVHFWRUGHEW 7,599 9,513 8,059 9,495 7,331 9,245 12,712 13,721
/RQJWHUPSULYDWHVHFWRUGHEW 5 29 26 12 7 2 1 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 523 420 1,033 14,150 2,036 4,378 4,188 5,705
External debt flows
Disbursements 862 550 1,045 3,664 1,224 5,648 4,624 4,399
Long-term external debt 862 550 1,045 3,664 1,224 5,648 4,624 4,046
IMF purchases 0 0 0 0 0 0 0 353
Principal repayments 183 332 1,530 2,289 3,513 3,753 1,132 3,088
Long-term external debt 183 332 1,530 2,289 3,513 3,753 1,132 3,088
IMF repurchases 0 0 0 0 0 0 0 0
Net flows 977 -90 -733 2,591 -2,057 2,105 3,659 1,508
Long-term external debt 679 218 -485 1,375 -2,289 1,895 3,492 958
Short-term external debt 298 -308 -248 1,216 232 210 167 196
Interest payments 143 132 175 313 908 681 511 420
Long-term external debt 100 79 149 257 824 577 443 389
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 43 53 26 57 83 104 68 31
2. Other non-debt resource inflows
Foreign direct investment -335 472 879 -1,304 -38 -893 1,679 2,205
Portfolio equity 0 0 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.2 6.2 6.4 7.6 9.6
Japanese yen 0.3 0.3 0.5 0.3 0.0 0.0 0.0 0.0
Pound sterling 1.4 0.9 1.0 0.9 0.2 0.2 0.1 0.1
Swiss franc 0.7 0.1 0.1 0.0 0.0 0.0 0.0 0.0
U.S.dollars 80.7 81.0 86.3 87.8 90.4 91.1 90.6 88.6
4. Average terms of new commitments
Official creditors
Interest (%) 5.7 8.1 0.8 6.5 1.1 0.4 0.6 3.4
Maturity (years) 14.1 9.9 39.8 13.8 10.9 12.1 43.4 8.7
Grace period (years) 3.7 0.4 10.3 2.0 1.5 2.7 10.4 1.7
Private creditors
Interest (%) 7.7 8.1 5.0 6.6 8.0 6.3 4.5 6.5
Maturity (years) 7.7 8.6 3.1 7.7 9.0 6.8 7.4 5.3
Grace period (years) 1.8 0.4 1.3 1.3 0.8 1.0 0.8 1.2
5. Major economic aggregates
Gross national income (GNI) 8,214 3,688 7,449 26,601 39,679 50,485 70,441 59,261
Exports of goods, services & income 4,003 3,852 8,222 24,312 33,492 45,329 64,666 41,582
Worker remit. & comp. of employees .. .. .. .. .. .. 82 ..
Imports of goods, services & income 4,161 4,302 7,454 19,201 22,612 34,913 58,048 48,784
Profit remittances on FDI 314 386 929 3,406 5,278 7,268 13,185 6,130
Current account balance -236 -295 796 5,138 10,690 10,194 6,408 ..
International reserves .. 213 1,198 3,197 8,599 11,197 17,869 13,664
6. Ratios
External debt stocks to exports (%) 214.6 298.6 114.4 48.6 28.3 25.4 23.4 40.2
External debt stocks to GNI (%) 104.6 311.9 126.3 44.4 23.9 22.8 21.5 28.2
Debt service to exports (%) 8.1 12.0 20.7 10.7 13.2 9.8 2.5 8.4
Short-term to external debt stocks (%) 11.5 17.0 14.1 19.6 22.5 19.7 16.0 15.8
Multilateral to external debt stocks (%) 0.7 1.7 3.1 3.1 4.2 3.6 2.8 2.6
Reserves to external debt stocks (%) .. 1.9 12.7 27.0 90.8 97.2 118.1 81.7
Reserves to imports (months) .. 0.6 1.9 2.0 4.6 3.8 3.7 3.4
62
ANGOLA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 252 437 0 0 2 21 67 0
Total amount forgiven 0 0 0 122 400 72 18 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,616 1,898 1,993 1,989 1,953 1,927 1,921 1,808
Interest 145 319 363 343 293 235 168 101
Private creditors
Principal 2,616 2,497 2,225 1,506 1,042 410 111 110
Interest 242 207 152 99 62 36 23 14
63
ARGENTINA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 62,233 98,465 140,914 124,939 115,863 117,317 118,901 120,183
Long-term external debt 48,676 70,979 107,543 80,586 87,564 98,058 98,924 100,646
Public and publicly guaranteed 46,876 54,913 81,633 54,225 60,754 68,029 68,627 72,923
Private nonguaranteed 1,800 16,066 25,909 26,361 26,811 30,028 30,298 27,723
Use of IMF credit 3,083 6,131 5,056 9,513 0 0 0 0
Short-term external debt 10,473 21,355 28,315 34,841 28,299 19,260 19,977 19,537
interest arrears on long-term 7,590 0 0 7,735 7,452 9,452 10,003 10,665
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 4,372 0 0 11,193 12,125 16,157 18,466 19,633
/RQJWHUPSXEOLFVHFWRUGHEW 44,707 54,891 81,582 54,205 60,655 67,935 68,538 72,862
/RQJWHUPSULYDWHVHFWRUGHEW 3,969 16,088 25,961 26,381 26,909 30,123 30,386 27,785
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 572 8,381 11,985 2,462 5,747 7,522 4,969 3,375
External debt flows
Disbursements 1,587 11,319 20,853 4,690 8,789 9,089 7,037 7,537
Long-term external debt 1,150 8,954 18,759 4,690 8,789 9,089 7,037 7,537
IMF purchases 437 2,365 2,094 0 0 0 0 0
Principal repayments 3,443 3,532 15,679 7,009 14,819 5,171 4,635 8,784
Long-term external debt 2,745 3,048 14,400 3,438 5,026 5,171 4,635 8,784
IMF repurchases 697 484 1,280 3,571 9,793 0 0 0
Net flows -1,856 21,972 4,074 14,787 -12,289 -7,121 2,568 -2,350
Long-term external debt -1,595 5,906 4,359 1,252 3,763 3,918 2,402 -1,248
Short-term external debt 0 14,185 -1,100 17,106 -6,259 -11,039 166 -1,102
Interest payments 2,716 5,322 11,163 2,962 3,979 3,774 3,089 3,343
Long-term external debt 2,208 4,320 9,236 2,108 2,959 2,900 2,849 3,222
IMF charges 277 274 195 510 83 0 0 0
Short-term external debt 231 727 1,732 344 937 874 240 121
2. Other non-debt resource inflows
Foreign direct investment 1,836 5,609 10,418 5,265 5,537 6,473 9,726 4,009
Portfolio equity 0 1,552 -3,227 -48 707 1,785 -531 -212
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 36.6 36.6 39.1 36.9 36.0
Japanese yen 6.7 9.2 6.2 2.7 2.5 2.3 2.9 2.7
Pound sterling 1.1 0.2 0.6 0.1 0.1 0.1 0.1 0.1
Swiss franc 2.2 1.6 0.4 0.4 0.4 0.4 0.4 0.4
U.S.dollars 54.5 57.5 61.0 54.4 55.9 54.7 57.0 58.8
4. Average terms of new commitments
Official creditors
Interest (%) 6.5 6.5 7.2 4.2 5.5 6.1 3.2 1.3
Maturity (years) 19.2 16.3 18.2 17.3 20.3 18.9 18.4 26.3
Grace period (years) 4.0 4.7 4.8 4.6 5.0 4.8 3.6 3.9
Private creditors
Interest (%) 6.0 7.4 10.0 5.0 5.7 6.6 6.8 5.4
Maturity (years) 8.4 4.8 11.6 8.4 11.1 13.7 12.8 28.5
Grace period (years) 1.3 4.6 11.6 3.7 6.0 11.5 11.3 19.0
5. Major economic aggregates
Gross national income (GNI) 135,150 253,396 276,656 176,575 208,884 257,129 321,257 299,468
Exports of goods, services & income 16,654 29,356 38,697 51,334 60,255 72,969 87,712 70,162
Worker remit. & comp. of employees 23 64 86 432 541 606 698 660
Imports of goods, services & income 13,100 35,070 48,076 46,543 52,947 65,967 80,826 61,571
Profit remittances on FDI 637 2,129 3,086 5,456 7,112 7,283 7,902 8,356
Current account balance 4,552 -5,118 -8,981 5,275 7,768 7,355 7,037 8,635
International reserves 6,222 15,979 25,152 28,082 32,022 46,149 46,385 48,007
6. Ratios
External debt stocks to exports (%) 373.7 335.4 364.1 243.4 192.3 160.8 135.6 171.3
External debt stocks to GNI (%) 46.0 38.9 50.9 70.8 55.5 45.6 37.0 40.1
Debt service to exports (%) 37.0 30.2 69.4 19.4 36.2 12.3 8.8 17.3
Short-term to external debt stocks (%) 16.8 21.7 20.1 27.9 24.4 16.4 16.8 16.3
Multilateral to external debt stocks (%) 8.0 9.5 11.5 12.5 12.9 12.7 12.4 13.4
Reserves to external debt stocks (%) 10.0 16.2 17.8 22.5 27.6 39.3 39.0 39.9
Reserves to imports (months) 5.7 5.5 6.3 7.2 7.3 8.4 6.9 9.4
64
ARGENTINA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 932 248 0 20,136 2,096 983 0 0
Total amount forgiven 5,970 863 689 40,333 3 0 0 10
Debt buyback 1,232 0 2,745 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,971 2,165 2,311 1,963 1,929 1,869 1,713 1,499
Interest 535 496 449 400 350 300 253 214
Private creditors
Principal 8,490 5,832 4,984 4,219 1,751 4,552 1,949 5,217
Interest 3,726 3,228 3,006 2,711 2,504 2,363 2,016 1,754
Notes:
Long-term private nonguaranteed debt data for 2009 are reported by the country for the first time. Historical data are World Bank staff estimates. Short-term
debt data are revised from 2007 based on BIS data. Long-term provincial debt data are World Bank staff estimates.
65
ARMENIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 371 916 1,842 2,004 2,898 3,406 4,935
Long-term external debt .. 298 697 1,368 1,533 2,281 2,818 3,837
Public and publicly guaranteed .. 298 675 923 1,037 1,282 1,446 2,376
Private nonguaranteed .. 0 21 446 496 999 1,373 1,461
Use of IMF credit .. 70 175 176 164 158 135 587
Short-term external debt .. 2 44 298 307 459 453 512
interest arrears on long-term .. 1 6 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 75 4 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. 298 675 923 1,037 1,282 1,446 2,376
/RQJWHUPSULYDWHVHFWRUGHEW .. 0 21 446 496 999 1,373 1,461
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 131 74 251 65 203 201 898
External debt flows
Disbursements .. 148 84 177 175 761 783 1,732
Long-term external debt .. 102 84 168 165 751 776 1,266
IMF purchases .. 46 0 10 10 10 7 466
Principal repayments .. 3 31 104 80 82 280 328
Long-term external debt .. 3 15 69 49 58 253 305
IMF repurchases .. 0 16 34 31 24 27 23
Net flows .. 147 42 -38 104 831 497 1,462
Long-term external debt .. 100 69 98 116 693 523 961
Short-term external debt .. 1 -11 -112 9 152 -6 59
Interest payments .. 8 15 35 70 107 85 102
Long-term external debt .. 7 9 23 59 91 70 81
IMF charges .. 2 3 1 1 1 1 4
Short-term external debt .. 0 2 11 11 15 15 18
2. Other non-debt resource inflows
Foreign direct investment .. 25 104 239 453 699 935 777
Portfolio equity .. .. 0 1 -1 0 -1 1
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.0 8.8 9.0 8.7 6.3
Japanese yen .. 0.0 0.0 0.2 0.4 7.0 12.1 11.3
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 62.6 93.3 86.3 82.6 71.2 62.9 66.0
4. Average terms of new commitments
Official creditors
Interest (%) .. 1.3 0.8 0.8 0.8 1.5 1.2 2.9
Maturity (years) .. 32.6 35.7 39.6 32.2 24.4 32.1 19.7
Grace period (years) .. 9.2 10.2 10.0 10.3 8.7 8.8 5.9
Private creditors
Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 1,466 1,964 5,033 6,600 9,485 12,388 8,926
Exports of goods, services & income .. 354 551 1,873 2,134 2,588 2,751 2,056
Worker remit. & comp. of employees .. 65 87 498 658 846 1,062 769
Imports of goods, services & income .. 741 1,017 2,449 2,946 4,122 5,272 4,189
Profit remittances on FDI .. .. 22 170 244 332 279 332
Current account balance .. -218 -278 -52 -117 -590 -1,383 -1,326
International reserves .. 111 314 669 1,072 1,659 1,407 2,004
6. Ratios
External debt stocks to exports (%) .. 104.7 166.4 98.3 93.9 112.0 123.8 240.0
External debt stocks to GNI (%) .. 25.3 46.6 36.6 30.4 30.6 27.5 55.3
Debt service to exports (%) .. 3.2 8.3 7.4 7.0 7.3 13.3 20.9
Short-term to external debt stocks (%) .. 0.6 4.8 16.2 15.3 15.8 13.3 10.4
Multilateral to external debt stocks (%) .. 56.1 52.9 43.9 45.1 35.9 32.6 28.9
Reserves to external debt stocks (%) .. 30.0 34.3 36.3 53.5 57.2 41.3 40.6
Reserves to imports (months) .. 1.8 3.7 3.3 4.4 4.8 3.2 5.7
66
ARMENIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 14 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 25 28 30 75 91 95 104 119
Interest 35 36 36 36 34 32 30 29
Private creditors
Principal 368 290 257 150 119 88 74 58
Interest 63 47 32 23 16 11 7 4
Notes:
Short-term debt is based on reports provided by the country.
67
AZERBAIJAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 321 1,328 2,043 2,586 3,593 4,315 4,865
Long-term external debt .. 206 836 1,693 1,932 2,447 3,066 3,993
Public and publicly guaranteed .. 206 737 1,506 1,828 2,304 2,739 3,403
Private nonguaranteed .. 0 99 187 104 143 327 590
Use of IMF credit .. 101 336 164 134 103 79 62
Short-term external debt .. 14 156 186 520 1,043 1,169 810
interest arrears on long-term .. 6 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 36 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. 206 737 1,506 1,828 2,304 2,739 3,403
/RQJWHUPSULYDWHVHFWRUGHEW .. 0 99 187 104 143 327 590
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 188 202 1,387 412 723 1,928 1,368
External debt flows
Disbursements .. 205 256 449 468 490 727 985
Long-term external debt .. 102 256 430 468 490 727 985
IMF purchases .. 103 0 19 0 0 0 0
Principal repayments .. 0 74 198 215 114 180 308
Long-term external debt .. 0 22 150 178 77 159 290
IMF repurchases .. 0 51 48 37 37 22 19
Net flows .. 207 309 300 587 899 673 318
Long-term external debt .. 102 234 281 290 413 568 696
Short-term external debt .. 2 127 48 334 523 126 -359
Interest payments .. 10 56 36 55 88 112 89
Long-term external debt .. 9 37 27 39 69 79 70
IMF charges .. 1 14 2 2 1 1 0
Short-term external debt .. 0 5 6 15 18 33 19
2. Other non-debt resource inflows
Foreign direct investment .. 330 130 1,680 -584 -4,749 15 473
Portfolio equity .. .. .. 0 1 2 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 12.6 18.6 21.6 20.7 26.5
Japanese yen .. 0.0 20.8 24.8 19.8 16.6 17.3 12.5
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 6.5 4.1 3.1 2.4 2.1 1.5
U.S.dollars .. 51.4 65.8 54.1 52.5 51.8 51.8 51.6
4. Average terms of new commitments
Official creditors
Interest (%) .. 1.4 4.3 2.3 4.5 5.2 3.0 1.6
Maturity (years) .. 32.2 22.6 28.8 24.7 20.1 21.5 25.2
Grace period (years) .. 9.4 4.7 7.7 8.0 4.2 4.8 6.6
Private creditors
Interest (%) .. 0.0 8.2 3.5 6.0 6.6 4.8 4.3
Maturity (years) .. 0.0 9.7 13.3 12.0 9.8 13.0 15.2
Grace period (years) .. 0.0 1.1 3.0 0.5 1.3 5.0 4.0
5. Major economic aggregates
Gross national income (GNI) .. 3,039 4,987 11,599 18,302 27,970 40,992 40,255
Exports of goods, services & income .. 795 2,174 8,534 14,235 22,845 32,728 23,398
Worker remit. & comp. of employees .. 3 57 693 813 1,287 1,554 1,274
Imports of goods, services & income .. 1,306 2,415 8,850 11,093 14,831 17,325 13,942
Profit remittances on FDI .. 0 317 1,582 2,624 4,995 5,401 3,664
Current account balance .. -401 -168 167 3,708 9,019 16,454 10,178
International reserves .. 121 680 1,178 2,500 4,273 6,467 5,364
6. Ratios
External debt stocks to exports (%) .. 40.4 61.1 23.9 18.2 15.7 13.2 20.8
External debt stocks to GNI (%) .. 10.6 26.6 17.6 14.1 12.8 10.5 12.1
Debt service to exports (%) .. 1.3 6.0 2.7 1.9 0.9 0.9 1.7
Short-term to external debt stocks (%) .. 4.4 11.8 9.1 20.1 29.0 27.1 16.6
Multilateral to external debt stocks (%) .. 30.8 24.3 30.8 28.4 26.8 26.4 30.0
Reserves to external debt stocks (%) .. 37.7 51.2 57.7 96.7 118.9 149.9 110.3
Reserves to imports (months) .. 1.1 3.4 1.6 2.7 3.5 4.5 4.6
68
AZERBAIJAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 133 130 194 209 233 245 284 285
Interest 34 40 44 46 47 46 45 42
Private creditors
Principal 243 256 220 212 228 213 185 158
Interest 48 42 35 29 24 19 14 10
Notes:
Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development.
69
BANGLADESH
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 12,285 15,726 15,535 18,381 20,032 21,296 22,886 23,820
Long-term external debt 11,504 14,905 14,985 17,385 18,378 19,426 20,307 21,206
Public and publicly guaranteed 11,504 14,905 14,985 17,385 18,378 19,426 20,307 21,206
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 626 622 216 308 476 501 686 675
Short-term external debt 156 199 334 688 1,178 1,370 1,894 1,939
interest arrears on long-term 1 15 0 16 0 4 1 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 11 13 4 1 3 53 10 7
/RQJWHUPSXEOLFVHFWRUGHEW 11,504 14,905 14,985 17,385 18,378 19,426 20,307 21,206
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 1,231 716 588 1,106 1,322 1,997 2,751 1,796
External debt flows
Disbursements 1,264 757 861 976 1,211 1,080 1,939 1,499
Long-term external debt 1,203 757 861 878 1,061 1,080 1,732 1,499
IMF purchases 60 0 0 97 150 0 206 0
Principal repayments 539 574 572 566 482 735 640 729
Long-term external debt 335 513 487 566 482 735 632 705
IMF repurchases 204 61 86 0 0 0 8 23
Net flows 812 182 368 370 1,235 532 1,826 817
Long-term external debt 868 244 374 312 579 344 1,100 794
Short-term external debt 88 -1 80 -40 506 188 527 46
Interest payments 196 180 194 233 228 255 249 228
Long-term external debt 146 167 165 197 167 180 203 197
IMF charges 40 3 7 1 2 2 7 6
Short-term external debt 9 10 22 35 59 72 39 25
2. Other non-debt resource inflows
Foreign direct investment 3 2 280 813 697 653 1,010 674
Portfolio equity 0 -15 1 20 31 153 -48 -154
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 0.7 0.8 0.9 0.7 0.6
Japanese yen 24.2 25.6 20.3 14.2 12.5 10.4 10.0 9.0
Pound sterling 5.1 3.5 3.0 2.1 1.9 1.7 1.5 1.4
Swiss franc 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 48.3 41.7 44.3 50.7 52.3 51.9 52.4 53.5
4. Average terms of new commitments
Official creditors
Interest (%) 1.1 1.9 2.4 1.5 2.0 2.1 1.2 2.0
Maturity (years) 37.6 38.2 28.4 35.2 33.6 32.4 37.6 25.4
Grace period (years) 10.2 10.0 7.4 9.2 8.7 8.2 9.5 7.3
Private creditors
Interest (%) 5.8 0.0 3.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 11.8 0.0 12.7 0.0 0.0 0.0 0.0 0.0
Grace period (years) 3.4 0.0 3.2 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 30,757 39,097 48,828 63,397 65,950 73,526 86,604 99,391
Exports of goods, services & income 2,128 4,702 7,293 10,668 13,065 14,335 17,690 17,060
Worker remit. & comp. of employees 779 1,202 1,968 4,315 5,428 6,562 8,941 10,523
Imports of goods, services & income 4,140 7,790 10,018 15,618 17,802 20,766 26,382 24,590
Profit remittances on FDI 0 0 149 661 765 903 840 1,084
Current account balance -398 -824 -306 -176 1,196 857 926 3,345
International reserves 660 2,376 1,516 2,825 3,877 5,277 5,787 10,342
6. Ratios
External debt stocks to exports (%) 577.3 334.5 213.0 172.3 153.3 148.6 129.4 139.6
External debt stocks to GNI (%) 39.9 40.2 31.8 29.0 30.4 29.0 26.4 24.0
Debt service to exports (%) 34.6 16.1 10.5 7.5 5.4 6.9 5.0 5.6
Short-term to external debt stocks (%) 1.3 1.3 2.2 3.7 5.9 6.4 8.3 8.1
Multilateral to external debt stocks (%) 52.4 61.5 70.8 76.4 74.6 76.6 75.6 77.1
Reserves to external debt stocks (%) 5.4 15.1 9.8 15.4 19.4 24.8 25.3 43.4
Reserves to imports (months) 1.9 3.7 1.8 2.2 2.6 3.0 2.6 5.0
70
BANGLADESH
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 764 775 822 1,109 1,140 927 978 1,024
Interest 236 242 244 240 229 218 214 207
Private creditors
Principal 26 22 19 14 14 2 2 2
Interest 3 3 2 1 1 0 0 0
Notes:
Historical data on long-term public and publicly guaranteed debt up to 2008 are revised based on reports provided by the country.
71
BELARUS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 1,694 2,140 4,737 5,352 10,341 12,299 17,158
Long-term external debt .. 1,302 787 1,233 1,697 3,463 5,340 6,262
Public and publicly guaranteed .. 1,301 689 786 842 2,338 3,752 4,758
Private nonguaranteed .. 0 98 448 855 1,125 1,589 1,504
Use of IMF credit .. 283 114 0 0 0 0 2,871
Short-term external debt .. 110 1,239 3,503 3,654 6,878 6,959 8,024
interest arrears on long-term .. 19 14 1 4 2 2 3
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 140 29 37 22 10 4 19
/RQJWHUPSXEOLFVHFWRUGHEW .. 1,301 689 777 837 2,336 3,752 4,758
/RQJWHUPSULYDWHVHFWRUGHEW .. 0 98 456 860 1,127 1,589 1,504
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 145 136 412 174 1,639 1,961 1,492
External debt flows
Disbursements .. 441 249 648 747 2,532 2,709 4,917
Long-term external debt .. 258 249 648 747 2,532 2,709 2,091
IMF purchases .. 182 0 0 0 0 0 2,825
Principal repayments .. 108 261 519 483 757 826 935
Long-term external debt .. 108 206 510 483 757 826 935
IMF repurchases .. 0 56 9 0 0 0 0
Net flows .. 369 -89 695 412 5,000 1,965 5,046
Long-term external debt .. 150 43 138 264 1,775 1,883 1,157
Short-term external debt .. 36 -76 566 148 3,225 82 1,064
Interest payments .. 74 107 161 250 322 349 313
Long-term external debt .. 59 39 51 72 81 232 172
IMF charges .. 10 7 0 0 0 0 13
Short-term external debt .. 4 61 111 178 241 117 128
2. Other non-debt resource inflows
Foreign direct investment .. 15 119 305 354 1,785 2,181 1,884
Portfolio equity .. .. 1 1 -1 5 1 1
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 14.4 26.0 9.9 4.1 7.8
Japanese yen .. 2.3 2.2 1.1 0.7 0.1 0.0 0.0
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.7 0.1 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 50.8 48.9 71.8 61.1 85.5 93.4 89.3
4. Average terms of new commitments
Official creditors
Interest (%) .. 5.1 6.8 5.0 5.9 4.6 6.1 4.2
Maturity (years) .. 16.0 5.9 7.6 16.9 14.9 12.1 13.4
Grace period (years) .. 5.6 2.4 1.4 5.4 5.4 4.2 4.7
Private creditors
Interest (%) .. 8.1 7.2 8.9 7.2 4.8 0.0 3.2
Maturity (years) .. 5.8 2.5 1.1 2.3 3.0 0.0 9.0
Grace period (years) .. 1.6 1.0 1.1 1.3 1.0 0.0 2.3
5. Major economic aggregates
Gross national income (GNI) .. 13,922 12,690 30,220 36,841 44,870 59,974 48,249
Exports of goods, services & income .. 5,271 7,667 18,350 22,482 27,901 37,388 25,070
Worker remit. & comp. of employees .. 29 139 255 340 354 443 352
Imports of goods, services & income .. 5,805 8,160 18,079 24,134 31,124 42,844 31,729
Profit remittances on FDI .. .. 5 135 236 435 682 871
Current account balance .. -458 -338 436 -1,448 -3,032 -5,262 -6,402
International reserves .. 377 350 1,342 1,386 4,179 3,063 5,640
6. Ratios
External debt stocks to exports (%) .. 32.1 27.9 25.8 23.8 37.1 32.9 68.4
External debt stocks to GNI (%) .. 12.2 16.9 15.7 14.5 23.0 20.5 35.6
Debt service to exports (%) .. 3.4 4.8 3.7 3.3 3.9 3.1 5.0
Short-term to external debt stocks (%) .. 6.5 57.9 74.0 68.3 66.5 56.6 46.8
Multilateral to external debt stocks (%) .. 11.1 10.1 1.7 1.2 0.5 0.4 1.5
Reserves to external debt stocks (%) .. 22.3 16.4 28.3 25.9 40.4 24.9 32.9
Reserves to imports (months) .. 0.8 0.5 0.9 0.7 1.6 0.9 2.1
72
BELARUS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 50 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 15
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 91 154 273 437 580 556 464 474
Interest 120 164 156 139 119 96 76 62
Private creditors
Principal 454 331 298 188 148 108 74 60
Interest 70 52 36 26 18 12 8 4
Notes:
Short-term debt is based on reports provided by the National Bank.
73
BELIZE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 143 255 612 1,012 1,036 1,085 1,071 1,092
Long-term external debt 136 219 562 1,006 1,029 1,078 1,064 1,076
Public and publicly guaranteed 136 219 553 981 1,009 1,064 1,048 1,063
Private nonguaranteed 0 0 8 25 20 14 16 14
Use of IMF credit 0 0 0 0 0 0 0 7
Short-term external debt 6 36 50 6 7 6 7 8
interest arrears on long-term 1 1 0 6 7 6 7 8
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 2 1 0 2 0 1 1 1
/RQJWHUPSXEOLFVHFWRUGHEW 136 219 553 981 1,009 1,052 1,038 1,054
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 8 25 20 26 26 23
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 5 29 224 199 106 591 16 90
External debt flows
Disbursements 18 31 223 212 99 615 43 72
Long-term external debt 18 31 223 212 99 615 43 64
IMF purchases 0 0 0 0 0 0 0 7
Principal repayments 12 25 41 160 77 567 56 52
Long-term external debt 9 25 41 160 77 567 56 52
IMF repurchases 3 0 0 0 0 0 0 0
Net flows 7 27 181 53 23 48 -13 19
Long-term external debt 9 6 182 53 23 48 -13 12
Short-term external debt 1 21 -1 0 0 0 0 0
Interest payments 6 11 35 73 64 64 51 47
Long-term external debt 6 10 32 73 64 64 51 47
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 0 1 3 0 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment 17 21 23 127 109 140 191 95
Portfolio equity 0 0 0 0 4 0 2 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.3 1.4 1.3 0.8 0.8
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 23.6 10.0 1.8 0.4 0.4 0.2 0.1 0.1
Swiss franc 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 45.3 62.7 93.2 96.7 96.9 97.2 97.8 98.0
4. Average terms of new commitments
Official creditors
Interest (%) 5.0 5.9 6.3 0.0 2.9 5.3 4.1 1.9
Maturity (years) 10.0 17.9 21.1 28.4 10.5 22.3 23.4 22.2
Grace period (years) 2.5 3.9 5.3 1.0 2.4 5.6 5.6 4.6
Private creditors
Interest (%) 0.0 8.6 9.5 4.7 0.0 4.2 4.3 0.0
Maturity (years) 0.0 4.8 8.1 7.1 0.0 21.9 22.0 0.0
Grace period (years) 0.0 0.3 3.0 1.6 0.0 12.2 12.5 0.0
5. Major economic aggregates
Gross national income (GNI) 406 599 775 1,000 1,088 1,118 1,197 ..
Exports of goods, services & income 255 300 441 634 800 831 872 731
Worker remit. & comp. of employees 18 14 26 46 65 75 78 80
Imports of goods, services & income 269 351 661 836 899 976 1,116 905
Profit remittances on FDI 7 8 31 35 52 87 94 66
Current account balance 15 -17 -162 -151 -25 -52 -132 -94
International reserves 70 38 123 71 114 109 166 214
6. Ratios
External debt stocks to exports (%) 55.9 85.0 138.6 159.6 129.5 130.6 122.7 149.3
External debt stocks to GNI (%) 35.1 42.6 78.9 101.1 95.2 97.0 89.4 ..
Debt service to exports (%) 7.2 12.2 17.3 36.7 17.6 76.0 12.3 13.6
Short-term to external debt stocks (%) 4.3 14.0 8.2 0.6 0.6 0.6 0.6 0.7
Multilateral to external debt stocks (%) 40.2 35.1 22.2 21.4 21.2 21.7 21.1 22.5
Reserves to external debt stocks (%) 48.9 14.7 20.1 7.1 11.0 10.0 15.5 19.6
Reserves to imports (months) 3.1 1.3 2.2 1.0 1.5 1.3 1.8 2.8
74
BELIZE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 7 0
Total amount forgiven 9 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 32 28 28 27 29 29 39 28
Interest 13 12 12 11 10 9 8 7
Private creditors
Principal 37 12 31 9 9 9 5 5
Interest 31 29 27 26 25 24 24 23
Notes:
Long-term private nonguaranteed debt data are World Bank staff estimates.
75
BENIN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,122 1,398 1,390 1,539 642 766 918 1,073
Long-term external debt 1,048 1,267 1,239 1,446 599 757 857 990
Public and publicly guaranteed 1,048 1,267 1,239 1,446 599 757 857 990
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 18 84 84 53 3 4 22 39
Short-term external debt 56 47 66 41 41 5 38 45
interest arrears on long-term 21 8 1 2 2 5 5 33
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 69 71 2 6 8 9 13 36
/RQJWHUPSXEOLFVHFWRUGHEW 1,048 1,267 1,239 1,446 599 757 857 990
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 85 113 140 266 91 228 147 232
External debt flows
Disbursements 120 104 48 98 162 160 162 166
Long-term external debt 120 90 39 97 161 158 143 150
IMF purchases 0 14 9 1 1 1 19 16
Principal repayments 20 25 53 31 27 18 17 25
Long-term external debt 18 23 43 24 27 18 17 25
IMF repurchases 2 2 11 7 0 0 0 0
Net flows 91 95 -54 82 135 102 178 120
Long-term external debt 101 67 -4 73 134 140 127 125
Short-term external debt -8 16 -48 15 0 -39 33 -21
Interest payments 17 23 21 16 14 11 42 12
Long-term external debt 13 21 16 14 12 10 41 12
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 4 2 4 2 2 1 0 0
2. Other non-debt resource inflows
Foreign direct investment 62 13 60 53 53 255 174 93
Portfolio equity 0 0 0 2 0 5 .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 4.4 4.9 3.8 3.2 5.3
Japanese yen 0.0 0.0 2.6 0.0 0.0 0.0 0.0 0.0
Pound sterling 1.0 0.5 0.3 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 40.3 45.1 54.8 50.7 27.2 27.9 24.3 21.5
4. Average terms of new commitments
Official creditors
Interest (%) 1.3 1.7 1.9 1.3 1.2 1.5 1.5 1.3
Maturity (years) 39.2 32.4 32.7 30.4 32.6 32.5 30.1 36.8
Grace period (years) 8.4 8.9 8.3 9.3 8.3 8.4 8.0 8.9
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1,806 1,965 2,243 4,259 4,623 5,428 6,672 6,646
Exports of goods, services & income 376 638 552 797 976 1,385 .. ..
Worker remit. & comp. of employees 101 100 87 173 224 282 271 267
Imports of goods, services & income 492 926 744 1,188 1,452 2,189 1,928 ..
Profit remittances on FDI 0 6 1 9 15 53 .. ..
Current account balance -18 -167 -81 -226 -217 -535 .. ..
International reserves 69 198 458 657 912 1,209 1,263 1,230
6. Ratios
External debt stocks to exports (%) 298.2 219.3 251.8 193.1 65.8 55.3 .. ..
External debt stocks to GNI (%) 62.1 71.2 62.0 36.1 13.9 14.1 13.8 16.1
Debt service to exports (%) 9.9 7.5 13.5 5.9 4.2 2.1 .. ..
Short-term to external debt stocks (%) 5.0 3.4 4.8 2.7 6.4 0.6 4.2 4.2
Multilateral to external debt stocks (%) 51.4 63.1 69.7 88.1 72.0 77.9 75.4 74.7
Reserves to external debt stocks (%) 6.2 14.2 33.0 42.7 142.0 157.9 137.7 114.6
Reserves to imports (months) 1.7 2.6 7.4 6.6 7.5 6.6 7.9 ..
76
BENIN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 12 5 53 0 0 0 0 0
Total amount forgiven 125 139 7 15 1,076 0 6 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 43 46 50 56 58 60 57 55
Interest 14 15 16 16 16 15 14 13
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Historical data on long-term public and publicly guaranteed debt up to 2008 are revised based on reports provided by the country. Benin was granted debt relief
effective in 2006 under MDRI.
77
BHUTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 83.5 105.8 203.8 649.2 713.3 775.0 692.4 762.4
Long-term external debt 80.3 105.2 202.2 636.7 697.3 775.0 692.4 762.4
Public and publicly guaranteed 80.3 105.2 202.2 636.7 697.3 775.0 692.4 762.4
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 3.3 0.6 1.5 12.5 16.0 0.0 0.0 0.0
interest arrears on long-term 0.3 0.6 0.0 4.5 0.0 0.0 0.0 0.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1.5 0.2 0.0 4.1 0.0 0.0 0.0 0.0
/RQJWHUPSXEOLFVHFWRUGHEW 80.3 105.2 202.2 636.7 697.3 775.0 692.4 762.4
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 0.0 24.0 85.1 60.3 25.0 896.6 0.0 175.8
External debt flows
Disbursements 8.4 9.9 34.8 81.9 45.2 31.9 48.4 91.9
Long-term external debt 8.4 9.9 34.8 81.9 45.2 31.9 48.4 91.9
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments 2.9 7.2 4.7 4.6 5.9 23.9 43.5 41.1
Long-term external debt 2.9 7.2 4.7 4.6 5.9 23.9 43.5 41.1
IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 6.5 2.7 29.6 85.3 47.3 -8.0 4.9 50.8
Long-term external debt 5.5 2.7 30.1 77.3 39.3 8.0 4.9 50.8
Short-term external debt 1.0 0.0 -0.5 8.0 8.0 -16.0 0.0 0.0
Interest payments 2.3 2.6 2.0 2.2 4.2 7.3 38.0 34.4
Long-term external debt 2.0 2.6 1.8 2.0 3.4 6.9 38.0 34.4
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.2 0.0 0.2 0.2 0.8 0.4 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment .. .. .. 9.0 6.1 73.3 29.7 36.4
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 9.6 10.9 11.1 11.3 11.3
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 43.1 28.6 17.7 18.2 19.2 19.0 22.4 23.6
4. Average terms of new commitments
Official creditors
Interest (%) 0.0 1.3 3.6 0.8 1.4 9.5 0.8 4.3
Maturity (years) 0.0 33.4 32.1 28.6 32.0 19.3 38.9 24.7
Grace period (years) 0.0 11.2 10.5 7.1 8.5 7.6 9.4 6.1
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 297.7 291.6 418.7 792.7 875.7 1190.5 1218.6 1322.4
Exports of goods, services & income .. .. .. 144.9 194.8 266.5 381.9 659.8
Worker remit. & comp. of employees .. .. .. .. .. .. .. ..
Imports of goods, services & income .. .. .. .. .. 658.6 656.0 610.0
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. .. .. .. .. .. ..
International reserves 88.8 130.5 317.6 467.4 545.3 699.0 764.8 ..
6. Ratios
External debt stocks to exports (%) .. .. .. 448.0 366.2 290.8 181.3 115.6
External debt stocks to GNI (%) 28.1 36.3 48.7 81.9 81.5 65.1 56.8 57.7
Debt service to exports (%) .. .. .. 4.7 5.2 11.7 21.3 11.4
Short-term to external debt stocks (%) 3.9 0.5 0.8 1.9 2.2 .. .. ..
Multilateral to external debt stocks (%) 50.1 64.5 49.4 27.3 27.4 28.9 34.4 37.5
Reserves to external debt stocks (%) 106.3 123.3 155.9 72.0 76.5 90.2 110.5 ..
Reserves to imports (months) .. .. .. .. .. 12.7 14.0 ..
78
BHUTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 66.4 66.5 67.0 72.2 75.9 142.0 117.0 91.5
Interest 46.9 53.9 55.2 53.1 49.2 88.9 76.9 69.8
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
79
BOLIVIA, PLURINATIONAL STATE OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 4,275 5,272 5,785 6,908 5,798 4,992 5,529 5,745
Long-term external debt 3,864 4,698 5,163 6,482 5,563 4,815 5,371 5,191
Public and publicly guaranteed 3,687 4,459 4,137 4,568 3,175 2,194 2,403 2,545
Private nonguaranteed 177 239 1,026 1,914 2,388 2,621 2,969 2,647
Use of IMF credit 257 268 220 244 15 0 0 0
Short-term external debt 154 307 402 182 220 177 158 554
interest arrears on long-term 6 20 2 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 31 30 19 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 3,687 4,459 3,759 4,545 3,157 2,184 2,393 2,535
/RQJWHUPSULYDWHVHFWRUGHEW 177 239 1,403 1,937 2,406 2,631 2,978 2,656
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 549 684 180 551 185 1,059 1,173 1,156
External debt flows
Disbursements 331 520 759 895 364 912 1,264 512
Long-term external debt 300 494 744 880 364 912 1,264 512
IMF purchases 31 26 15 14 0 0 0 0
Principal repayments 241 199 454 355 208 539 767 452
Long-term external debt 196 173 434 315 208 525 767 452
IMF repurchases 46 26 20 40 0 15 0 0
Net flows 32 341 294 449 194 329 479 456
Long-term external debt 104 321 309 565 155 387 498 60
Short-term external debt -57 20 -10 -91 38 -43 -19 396
Interest payments 144 173 180 174 215 202 179 137
Long-term external debt 117 155 159 159 203 194 175 118
IMF charges 13 1 1 6 2 1 0 0
Short-term external debt 14 17 20 10 10 7 4 19
2. Other non-debt resource inflows
Foreign direct investment 27 393 736 -239 281 366 512 423
Portfolio equity 0 0 0 0 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.5 2.6 4.2 3.6 3.1
Japanese yen 10.0 13.2 12.3 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.9 0.7 0.2 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 41.3 32.7 45.0 75.3 66.2 76.5 79.7 82.0
4. Average terms of new commitments
Official creditors
Interest (%) 4.1 3.8 4.2 4.9 4.1 2.7 3.6 3.4
Maturity (years) 29.5 29.1 28.6 21.6 24.9 22.8 19.9 22.3
Grace period (years) 7.9 7.8 7.9 5.6 5.8 5.2 5.3 5.5
Private creditors
Interest (%) 9.4 6.7 7.4 0.0 0.0 5.0 4.8 2.2
Maturity (years) 5.8 5.6 5.8 0.0 0.0 2.0 2.7 15.0
Grace period (years) 1.5 1.0 0.8 0.0 0.0 2.0 2.0 4.5
5. Major economic aggregates
Gross national income (GNI) 4,626 6,494 8,172 10,980 12,378 12,631 16,138 16,675
Exports of goods, services & income 996 1,262 1,610 3,401 4,587 5,327 7,294 4,096
Worker remit. & comp. of employees 5 7 127 346 612 1,065 1,144 1,109
Imports of goods, services & income 1,354 1,809 2,443 3,363 4,091 5,002 6,563 522
Profit remittances on FDI 17 24 148 271 392 644 681 ..
Current account balance -199 -303 -446 622 1,317 1,591 2,015 ..
International reserves 511 1,005 1,184 1,795 3,194 5,314 7,720 8,575
6. Ratios
External debt stocks to exports (%) 429.4 417.7 359.4 203.1 126.4 93.7 75.8 140.3
External debt stocks to GNI (%) 92.4 81.2 70.8 62.9 46.8 39.5 34.3 34.5
Debt service to exports (%) 38.7 29.5 39.4 15.6 9.2 13.9 13.0 14.4
Short-term to external debt stocks (%) 3.6 5.8 7.0 2.6 3.8 3.5 2.9 9.6
Multilateral to external debt stocks (%) 37.2 48.9 48.5 60.9 47.6 34.0 32.7 34.4
Reserves to external debt stocks (%) 12.0 19.1 20.5 26.0 55.1 106.4 139.6 149.2
Reserves to imports (months) 4.5 6.7 5.8 6.4 9.4 12.7 14.1 197.2
80
BOLIVIA, PLURINATIONAL STATE OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 153 196 0 0 0 0 0 0
Total amount forgiven 169 82 64 65 1,787 1,182 17 87
Debt buyback 4 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 197 186 192 231 260 265 266 274
Interest 65 71 76 77 76 72 67 64
Private creditors
Principal 607 517 461 567 200 189 95 64
Interest 115 88 64 49 18 14 11 9
Notes:
Bolivia was granted debt relief effective in 2006 under MDRI. Data for 2007 include the effects of MDRI, in the amount of $810 in thousands.
81
BOSNIA AND HERZEGOVINA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. .. 2,773 6,222 7,242 8,823 8,303 9,583
Long-term external debt .. .. 2,619 5,323 6,051 7,133 7,398 7,620
Public and publicly guaranteed .. .. 1,957 2,556 2,716 2,958 3,000 3,569
Private nonguaranteed .. .. 663 2,767 3,335 4,175 4,398 4,051
Use of IMF credit .. 48 105 62 20 2 0 286
Short-term external debt .. .. 49 837 1,171 1,687 905 1,677
interest arrears on long-term .. .. 1 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. .. 1 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. .. 1,957 2,556 2,716 2,958 3,000 3,569
/RQJWHUPSULYDWHVHFWRUGHEW .. .. 663 2,767 3,335 4,175 4,398 4,051
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. .. 197 120 616 231 302 368
External debt flows
Disbursements .. .. 138 536 754 1,022 471 815
Long-term external debt .. .. 103 536 754 1,022 471 533
IMF purchases .. 46 36 0 0 0 0 282
Principal repayments .. .. 190 134 188 145 139 354
Long-term external debt .. .. 170 95 144 127 137 354
IMF repurchases .. 28 20 39 44 18 2 0
Net flows .. .. -41 879 899 1,392 -450 1,233
Long-term external debt .. .. -68 441 609 895 335 179
Short-term external debt .. .. 11 477 334 516 -782 772
Interest payments .. .. 127 151 183 290 307 292
Long-term external debt .. .. 119 136 176 217 256 219
IMF charges .. 5 5 3 2 1 0 1
Short-term external debt .. .. 3 12 4 73 50 72
2. Other non-debt resource inflows
Foreign direct investment .. .. 146 608 768 2,071 921 235
Portfolio equity .. .. 0 .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 33.9 35.7 38.0 38.9 48.6
Japanese yen .. .. 0.0 1.2 1.3 1.2 1.5 1.2
Pound sterling .. .. 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. .. 2.3 1.7 1.2 1.2 1.2 1.1
U.S.dollars .. .. 27.6 41.3 40.9 40.1 39.1 32.7
4. Average terms of new commitments
Official creditors
Interest (%) .. .. 3.7 1.9 3.1 3.9 4.7 1.6
Maturity (years) .. .. 23.3 17.1 20.6 22.4 16.2 16.1
Grace period (years) .. .. 6.7 5.9 6.9 6.1 4.3 4.8
Private creditors
Interest (%) .. .. 0.0 0.0 2.9 4.2 1.2 1.0
Maturity (years) .. .. 0.0 0.0 11.9 15.1 13.4 13.5
Grace period (years) .. .. 0.0 0.0 2.9 6.9 6.0 4.5
5. Major economic aggregates
Gross national income (GNI) .. .. 6,096 11,343 12,810 15,723 19,100 17,554
Exports of goods, services & income .. .. 2,247 4,227 5,253 6,738 8,062 6,125
Worker remit. & comp. of employees .. .. 1,607 2,043 2,157 2,700 2,735 2,167
Imports of goods, services & income .. .. 4,234 8,103 8,468 11,049 13,539 9,441
Profit remittances on FDI .. .. 0 97 175 344 234 29
Current account balance .. .. -396 -1,844 -981 -1,594 -2,764 ..
International reserves .. .. 497 2,531 3,372 4,525 3,516 3,245
6. Ratios
External debt stocks to exports (%) .. .. 123.4 147.2 137.9 130.9 103.0 156.5
External debt stocks to GNI (%) .. .. 45.5 54.9 56.5 56.1 43.5 54.6
Debt service to exports (%) .. .. 14.2 6.8 7.1 6.5 5.5 10.5
Short-term to external debt stocks (%) .. .. 1.8 13.5 16.2 19.1 10.9 17.5
Multilateral to external debt stocks (%) .. .. 45.6 27.5 24.9 22.0 23.9 22.9
Reserves to external debt stocks (%) .. .. 17.9 40.7 46.6 51.3 42.3 33.9
Reserves to imports (months) .. .. 1.4 3.7 4.8 4.9 3.1 4.1
82
BOSNIA AND HERZEGOVINA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. .. 4 0 0 0 0 0
Total amount forgiven .. .. 0 0 0 0 0 0
Debt buyback .. .. 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 197 181 180 195 218 224 220 229
Interest 57 57 56 54 51 48 44 40
Private creditors
Principal 1,055 859 792 520 378 284 235 192
Interest 168 125 92 62 44 31 21 14
Notes:
Data on long-term private nonguaranteed debt from 2005 are World Bank staff estimates.
83
BOTSWANA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 553 717 453 447 382 413 434 1,617
Long-term external debt 547 707 438 412 358 391 391 1,388
Public and publicly guaranteed 547 707 438 412 358 391 391 1,388
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 6 10 15 35 24 22 43 229
interest arrears on long-term 3 6 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 3 9 1 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 547 676 432 412 358 391 391 1,388
/RQJWHUPSULYDWHVHFWRUGHEW 0 31 5 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 81 0 0 0 75 50 0 1,777
External debt flows
Disbursements 27 67 28 11 4 50 54 1,006
Long-term external debt 27 67 28 11 4 50 54 1,006
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 66 64 52 40 45 37 61 36
Long-term external debt 66 64 52 40 45 37 61 36
IMF repurchases 0 0 0 0 0 0 0 0
Net flows -39 4 -29 -17 -51 11 15 1,156
Long-term external debt -39 3 -24 -30 -40 13 -6 970
Short-term external debt 0 1 -5 13 -11 -2 21 186
Interest payments 39 27 17 13 12 10 8 11
Long-term external debt 39 27 15 12 10 9 7 9
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 0 0 1 1 2 1 1 2
2. Other non-debt resource inflows
Foreign direct investment 96 70 57 279 486 647 109 234
Portfolio equity 0 6 -6 62 36 9 -37 18
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 6.9 8.2 8.0 7.2 2.0
Japanese yen 4.4 11.1 11.4 17.1 10.4 13.3 13.9 3.5
Pound sterling 10.1 3.8 2.3 5.2 6.1 5.5 3.6 1.0
Swiss franc 0.0 0.1 0.1 0.1 0.0 0.0 0.0 0.0
U.S.dollars 11.9 13.4 18.0 20.5 20.8 18.3 24.9 7.7
4. Average terms of new commitments
Official creditors
Interest (%) 5.6 0.0 0.0 0.0 4.6 3.3 0.0 0.8
Maturity (years) 17.6 0.0 0.0 0.0 18.2 20.9 0.0 20.7
Grace period (years) 4.5 0.0 0.0 0.0 5.2 5.9 0.0 5.8
Private creditors
Interest (%) 8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 11.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 3,686 4,741 5,280 9,420 10,482 11,647 13,169 11,432
Exports of goods, services & income 2,421 2,904 3,378 5,757 5,821 6,061 6,042 3,835
Worker remit. & comp. of employees 86 59 26 127 117 105 114 122
Imports of goods, services & income 2,509 2,565 3,050 4,839 4,753 5,816 6,550 5,218
Profit remittances on FDI 407 416 658 1,066 1,043 989 598 ..
Current account balance -19 300 545 1,591 1,940 1,351 502 ..
International reserves 3,331 4,695 6,318 6,309 7,992 9,790 9,119 8,704
6. Ratios
External debt stocks to exports (%) 22.8 24.7 13.4 7.8 6.6 6.8 7.2 42.2
External debt stocks to GNI (%) 15.0 15.1 8.6 4.7 3.6 3.5 3.3 14.1
Debt service to exports (%) 4.3 3.1 2.0 0.9 1.0 0.8 1.1 1.2
Short-term to external debt stocks (%) 1.0 1.4 3.3 7.8 6.3 5.3 9.9 14.2
Multilateral to external debt stocks (%) 70.0 70.1 65.7 58.6 64.2 58.2 57.1 77.4
Reserves to external debt stocks (%) 602.5 654.7 1,395.5 1,410.5 2,091.3 2,369.9 2,102.1 538.2
Reserves to imports (months) 15.9 22.0 24.9 15.6 20.2 20.2 16.7 20.0
84
BOTSWANA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 35 52 34 30 29 130 128 133
Interest 11 15 14 14 14 13 12 12
Private creditors
Principal 1 1 1 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
85
BRAZIL
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 119,732 160,469 241,550 187,526 193,458 237,605 262,139 276,932
Long-term external debt 94,196 129,090 208,809 163,533 173,133 198,357 225,488 237,143
Public and publicly guaranteed 87,525 98,260 96,127 94,028 84,245 79,595 79,646 87,317
Private nonguaranteed 6,671 30,830 112,682 69,505 88,889 118,762 145,842 149,826
Use of IMF credit 1,821 142 1,768 0 0 0 0 0
Short-term external debt 23,715 31,238 30,973 23,993 20,325 39,248 36,652 39,789
interest arrears on long-term 8,790 1,546 176 0 2 2 8 3
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 3,597 3,936 1,821 18 3 6 5 10
/RQJWHUPSXEOLFVHFWRUGHEW 86,955 97,392 95,681 92,677 83,044 78,374 78,396 85,000
/RQJWHUPSULYDWHVHFWRUGHEW 7,241 31,698 113,127 70,855 90,089 119,983 147,092 152,144
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 3,012 7,606 30,557 12,659 9,247 11,070 12,743 19,262
External debt flows
Disbursements 4,087 20,207 44,051 27,402 52,622 59,905 69,496 57,431
Long-term external debt 4,087 20,207 44,051 27,402 52,622 59,905 69,496 57,431
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 5,896 11,051 47,733 49,561 47,388 40,422 40,285 30,151
Long-term external debt 5,131 11,002 41,040 25,751 47,388 40,422 40,285 30,151
IMF repurchases 765 49 6,693 23,810 0 0 0 0
Net flows -1,710 8,797 -1,851 -23,433 1,564 38,407 26,610 30,422
Long-term external debt -1,044 9,205 3,011 1,651 5,234 19,484 29,212 27,280
Short-term external debt 99 -359 1,831 -1,274 -3,670 18,923 -2,602 3,142
Interest payments 2,260 10,522 17,111 13,282 14,785 14,514 16,175 14,166
Long-term external debt 2,029 8,719 15,280 10,303 13,150 13,025 15,037 13,677
IMF charges 231 10 336 1,079 109 0 0 0
Short-term external debt 0 1,792 1,494 1,900 1,526 1,489 1,138 489
2. Other non-debt resource inflows
Foreign direct investment 989 4,859 32,779 15,066 18,782 34,585 45,058 25,949
Portfolio equity 103 2,775 3,076 6,451 7,716 26,217 -7,565 37,071
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 9.4 10.4 9.8 9.0 7.3
Japanese yen 7.4 8.7 7.4 6.1 5.4 4.7 5.9 5.0
Pound sterling 1.8 1.8 1.0 0.2 0.3 0.0 0.1 0.1
Swiss franc 1.0 0.3 0.3 0.1 0.0 0.0 0.0 0.0
U.S.dollars 60.5 68.3 70.4 79.3 79.0 80.7 80.6 84.2
4. Average terms of new commitments
Official creditors
Interest (%) 7.4 5.9 5.7 4.7 6.0 4.6 3.7 2.5
Maturity (years) 15.2 19.9 8.6 18.5 17.1 16.7 23.6 15.3
Grace period (years) 4.1 4.9 1.2 4.3 4.4 3.9 3.8 5.0
Private creditors
Interest (%) 9.0 7.7 9.9 8.7 7.5 8.5 5.5 5.7
Maturity (years) 8.0 3.3 15.5 14.5 15.1 13.7 14.2 14.8
Grace period (years) 3.2 2.1 14.2 14.0 15.0 9.4 13.7 13.9
5. Major economic aggregates
Gross national income (GNI) 449,672 757,886 626,768 869,565 1,073,837 1,346,232 1,609,692 1,547,131
Exports of goods, services & income 36,327 56,098 68,205 137,550 163,708 196,096 240,904 189,549
Worker remit. & comp. of employees 573 3,315 1,649 3,540 4,253 4,382 5,089 4,234
Imports of goods, services & income 40,949 77,855 93,950 127,123 154,393 198,574 273,320 217,189
Profit remittances on FDI 1,892 2,814 4,238 11,035 13,884 19,692 28,773 21,029
Current account balance -3,823 -18,136 -24,225 13,985 13,621 1,551 -28,192 -24,302
International reserves 9,200 51,477 33,015 53,799 85,843 180,334 193,783 238,539
6. Ratios
External debt stocks to exports (%) 329.6 286.1 354.2 136.3 118.2 121.2 108.8 146.1
External debt stocks to GNI (%) 26.6 21.2 38.5 21.6 18.0 17.6 16.3 17.9
Debt service to exports (%) 22.5 38.5 95.1 45.7 38.0 28.0 23.4 23.4
Short-term to external debt stocks (%) 19.8 19.5 12.8 12.8 10.5 16.5 14.0 14.4
Multilateral to external debt stocks (%) 9.5 5.8 7.6 10.3 11.3 9.6 9.3 8.9
Reserves to external debt stocks (%) 7.7 32.1 13.7 28.7 44.4 75.9 73.9 86.1
Reserves to imports (months) 2.7 7.9 4.2 5.1 6.7 10.9 8.5 13.2
86
BRAZIL
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 1,316 234 0 4,271 0 28 265 2
Total amount forgiven 483 0 137 0 0 0 56 0
Debt buyback 776 0 6,342 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 3,070 3,158 3,382 2,986 2,682 4,607 4,332 4,135
Interest 912 871 816 755 699 621 510 407
Private creditors
Principal 24,765 24,955 19,720 14,752 13,735 16,982 13,710 15,189
Interest 11,060 10,695 9,564 8,895 7,991 7,197 6,127 5,263
Notes:
Short-term debt for 2009 is based on reports provided by the country.
87
BULGARIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 10,890 10,379 11,212 15,700 20,990 32,967 39,767 40,582
Long-term external debt 9,834 9,150 8,440 10,597 12,609 18,930 21,433 22,004
Public and publicly guaranteed 9,834 8,808 7,671 5,075 5,066 5,242 4,397 4,772
Private nonguaranteed 0 342 769 5,522 7,543 13,689 17,035 17,232
Use of IMF credit 0 717 1,322 660 341 0 0 0
Short-term external debt 1,056 512 1,450 4,442 8,040 14,036 18,334 18,578
interest arrears on long-term 226 74 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 356 227 1 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 9,834 8,808 7,671 5,075 5,066 5,199 4,359 4,735
/RQJWHUPSULYDWHVHFWRUGHEW 0 342 769 5,522 7,543 13,732 17,074 17,269
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 563 678 700 266 104 455 374 280
External debt flows
Disbursements 875 259 995 3,710 3,616 7,740 8,224 3,880
Long-term external debt 875 259 719 3,710 3,616 7,740 8,224 3,880
IMF purchases 0 0 276 0 0 0 0 0
Principal repayments 865 565 712 3,352 1,992 3,033 3,765 3,694
Long-term external debt 865 319 573 2,909 1,645 2,686 3,765 3,694
IMF repurchases 0 246 139 443 346 347 0 0
Net flows -14 -194 465 1,564 5,222 10,704 8,756 430
Long-term external debt 11 -61 145 801 1,970 5,054 4,458 186
Short-term external debt -24 113 183 1,206 3,598 5,996 4,298 244
Interest payments 510 575 584 613 744 1,164 1,610 1,516
Long-term external debt 452 501 456 445 489 603 858 773
IMF charges 0 50 63 37 24 9 0 0
Short-term external debt 58 24 65 130 230 552 752 743
2. Other non-debt resource inflows
Foreign direct investment 4 90 1,002 4,312 7,758 13,215 9,937 4,489
Portfolio equity 0 0 5 449 148 89 -106 8
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 48.4 50.7 52.4 51.7 56.8
Japanese yen 6.6 9.0 5.5 5.1 6.5 7.4 12.9 12.4
Pound sterling 0.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 7.7 1.1 0.3 0.0 0.0 0.0 0.0 0.0
U.S.dollars 42.1 66.1 80.1 44.9 41.7 39.3 34.6 30.4
4. Average terms of new commitments
Official creditors
Interest (%) 9.3 5.9 6.2 3.0 3.7 4.9 4.3 2.4
Maturity (years) 7.2 17.3 16.1 16.2 16.1 16.6 16.8 17.6
Grace period (years) 3.0 5.4 4.4 4.7 2.6 4.5 4.0 5.3
Private creditors
Interest (%) 9.1 3.4 7.6 4.2 5.0 0.0 2.0 0.0
Maturity (years) 3.2 4.7 16.0 9.4 10.0 0.0 29.2 0.0
Grace period (years) 2.3 3.2 4.9 1.9 0.5 0.0 9.2 0.0
5. Major economic aggregates
Gross national income (GNI) 19,083 12,675 12,276 27,265 30,793 38,018 47,327 44,907
Exports of goods, services & income 7,070 6,926 7,321 17,674 21,972 27,487 31,931 24,464
Worker remit. & comp. of employees .. .. 58 1,613 1,716 1,694 1,874 1,558
Imports of goods, services & income 8,905 7,084 8,314 22,034 28,680 39,909 45,108 30,095
Profit remittances on FDI 0 0 107 912 1,857 3,742 2,720 2,335
Current account balance -1,710 -26 -703 -3,347 -5,863 -11,437 -11,898 -4,340
International reserves .. 1,635 3,507 8,697 11,756 17,545 17,930 18,522
6. Ratios
External debt stocks to exports (%) 154.0 149.9 153.2 88.8 95.5 119.9 124.5 165.9
External debt stocks to GNI (%) 57.1 81.9 91.3 57.6 68.2 86.7 84.0 90.4
Debt service to exports (%) 19.4 16.5 17.7 22.4 12.4 15.3 16.8 21.3
Short-term to external debt stocks (%) 9.7 4.9 12.9 28.3 38.3 42.6 46.1 45.8
Multilateral to external debt stocks (%) 2.0 11.9 13.8 15.7 11.4 8.1 5.5 6.2
Reserves to external debt stocks (%) .. 15.8 31.3 55.4 56.0 53.2 45.1 45.6
Reserves to imports (months) .. 2.8 5.1 4.7 4.9 5.3 4.8 7.4
88
BULGARIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 84 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 127 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 490 233 245 276 290 277 282 278
Interest 81 68 62 56 49 43 36 30
Private creditors
Principal 3,543 2,692 2,415 2,716 1,409 2,468 1,604 1,790
Interest 452 381 343 275 173 107 52 48
Notes:
Short-term debt is based on Central Bank data.
89
BURKINA FASO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 832 1,271 1,422 1,994 1,123 1,450 1,682 1,835
Long-term external debt 748 1,140 1,226 1,868 999 1,257 1,518 1,725
Public and publicly guaranteed 748 1,140 1,226 1,868 999 1,257 1,518 1,725
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 0 75 112 104 35 37 54 110
Short-term external debt 84 56 84 22 89 155 110 0
interest arrears on long-term 21 12 5 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 64 37 42 36 39 37 34 34
/RQJWHUPSXEOLFVHFWRUGHEW 747 1,140 1,226 1,868 999 1,257 1,518 1,725
/RQJWHUPSULYDWHVHFWRUGHEW 1 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 90 37 53 232 294 389 414 48
External debt flows
Disbursements 77 139 99 218 301 226 327 263
Long-term external debt 77 112 91 203 282 225 308 209
IMF purchases 0 27 7 15 19 1 18 54
Principal repayments 19 28 33 28 27 25 27 26
Long-term external debt 18 28 26 24 27 25 27 26
IMF repurchases 1 0 7 4 0 0 0 0
Net flows 68 124 47 188 341 267 254 127
Long-term external debt 59 83 65 179 255 200 281 183
Short-term external debt 10 14 -19 -2 67 66 -45 -110
Interest payments 16 20 14 17 17 17 18 15
Long-term external debt 10 18 12 16 15 12 14 15
IMF charges 0 0 1 0 0 0 0 0
Short-term external debt 6 2 1 1 2 5 3 0
2. Other non-debt resource inflows
Foreign direct investment 0 10 23 34 34 344 137 171
Portfolio equity 0 .. -3 .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.7 6.2 6.7 12.8 11.9
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.5 0.3 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 39.1 55.5 59.4 56.5 40.3 39.4 35.9 35.8
4. Average terms of new commitments
Official creditors
Interest (%) 2.5 0.8 1.4 0.9 0.8 1.3 1.1 0.8
Maturity (years) 27.9 39.9 37.1 35.8 40.9 32.6 35.2 49.9
Grace period (years) 8.7 10.4 7.8 8.8 10.1 8.5 9.0 10.4
Private creditors
Interest (%) 0.0 0.0 0.0 4.2 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 11.2 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 1.7 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 3,094 2,369 2,606 5,411 5,756 6,752 7,932 8,019
Exports of goods, services & income 367 .. 251 .. .. .. .. ..
Worker remit. & comp. of employees 140 78 67 50 50 50 50 49
Imports of goods, services & income 776 .. 691 .. .. .. .. ..
Profit remittances on FDI 6 .. 3 .. .. .. .. ..
Current account balance -77 .. -319 .. .. .. .. ..
International reserves 305 347 244 438 555 1,029 928 1,296
6. Ratios
External debt stocks to exports (%) 226.9 .. 567.6 .. .. .. .. ..
External debt stocks to GNI (%) 26.9 53.6 54.6 36.9 19.5 21.5 21.2 22.9
Debt service to exports (%) 9.4 .. 18.6 .. .. .. .. ..
Short-term to external debt stocks (%) 10.1 4.4 5.9 1.1 7.9 10.7 6.5 ..
Multilateral to external debt stocks (%) 67.7 77.2 72.0 85.2 69.8 67.5 71.7 76.4
Reserves to external debt stocks (%) 36.6 27.3 17.1 22.0 49.4 71.0 55.1 70.6
Reserves to imports (months) 4.7 .. 4.2 .. .. .. .. ..
90
BURKINA FASO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 17 1 4 0 1 0
Total amount forgiven 5 15 81 45 1,290 3 7 0
Debt buyback 0 0 92 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 62 52 55 66 72 75 81 90
Interest 22 23 23 23 23 22 21 20
Private creditors
Principal 3 3 3 3 3 3 3 0
Interest 1 1 1 0 0 0 0 0
Notes:
Data on long-term public debt for 2009 are World Bank staff estimates. Burkina Faso was granted debt relief effective in 2006 under MDRI.
91
BURUNDI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 906.9 1162.0 1108.0 1321.8 1411.8 1455.7 1443.2 518.0
Long-term external debt 851.0 1099.3 1036.0 1229.6 1291.4 1343.7 1308.0 419.8
Public and publicly guaranteed 851.0 1099.3 1036.0 1229.6 1291.4 1343.7 1308.0 419.8
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 42.6 47.8 7.0 58.2 82.7 98.2 116.9 90.9
Short-term external debt 13.4 14.9 65.0 34.1 37.6 13.8 18.3 7.3
interest arrears on long-term 0.0 2.0 19.7 33.1 36.6 12.8 4.3 0.3
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.1 3.0 82.1 75.2 76.4 60.0 65.3 16.3
/RQJWHUPSXEOLFVHFWRUGHEW 849.2 1099.3 1036.0 1229.6 1291.4 1343.7 1308.0 419.8
/RQJWHUPSULYDWHVHFWRUGHEW 1.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 126.0 38.8 50.3 39.2 3.8 2.4 37.0 8.0
External debt flows
Disbursements 95.7 44.8 41.3 63.3 60.4 42.2 46.6 43.9
Long-term external debt 95.7 44.8 41.3 42.1 39.4 31.3 24.8 23.6
IMF purchases 0.0 0.0 0.0 21.1 21.0 10.9 21.7 20.4
Principal repayments 28.3 26.8 14.0 27.1 12.9 11.2 11.3 15.2
Long-term external debt 27.5 17.8 9.4 27.1 12.9 11.2 11.3 8.3
IMF repurchases 0.8 9.1 4.5 0.0 0.0 0.0 0.0 6.9
Net flows 64.9 26.3 18.4 34.2 47.5 31.0 48.3 21.7
Long-term external debt 68.2 27.1 31.8 15.0 26.5 20.1 13.5 15.3
Short-term external debt -2.5 8.3 -8.9 -2.0 0.0 0.0 13.0 -7.0
Interest payments 14.1 11.8 7.9 12.2 5.5 7.8 8.2 4.1
Long-term external debt 12.2 11.0 4.5 11.9 5.1 7.3 7.4 3.6
IMF charges 0.2 0.3 0.1 0.2 0.3 0.5 0.6 0.4
Short-term external debt 1.7 0.5 3.3 0.1 0.1 0.0 0.2 0.1
2. Other non-debt resource inflows
Foreign direct investment 1.3 2.0 11.7 0.6 0.0 0.5 3.8 9.9
Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 11.1 11.4 11.9 10.1 17.6
Japanese yen 2.0 2.9 2.8 1.4 0.7 0.7 1.0 2.9
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 50.3 55.1 59.4 61.8 61.3 60.4 60.3 33.6
4. Average terms of new commitments
Official creditors
Interest (%) 0.9 0.8 1.7 0.8 0.0 1.5 1.0 1.0
Maturity (years) 40.3 38.0 31.3 47.8 19.6 22.5 19.5 28.5
Grace period (years) 10.3 9.8 8.2 10.2 10.1 4.7 6.4 10.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1117.2 988.0 723.4 776.2 910.0 973.9 1164.6 1331.3
Exports of goods, services & income 97.7 139.7 55.4 98.7 97.3 98.3 146.8 ..
Worker remit. & comp. of employees .. .. .. 0.1 0.0 0.2 3.6 3.8
Imports of goods, services & income 341.3 281.8 165.0 343.9 460.4 449.3 544.5 ..
Profit remittances on FDI 3.3 3.1 0.4 2.1 3.4 4.8 5.3 ..
Current account balance -69.4 10.4 -50.2 -5.7 -134.0 -109.8 -211.5 ..
International reserves 111.7 216.1 37.6 100.6 131.1 177.1 266.5 323.1
6. Ratios
External debt stocks to exports (%) 928.7 831.6 1999.7 1338.6 1450.6 1480.8 983.4 ..
External debt stocks to GNI (%) 81.2 117.6 153.2 170.3 155.1 149.5 123.9 38.9
Debt service to exports (%) 43.4 27.6 39.4 39.8 18.9 19.4 13.3 ..
Short-term to external debt stocks (%) 1.5 1.3 5.9 2.6 2.7 0.9 1.3 1.4
Multilateral to external debt stocks (%) 72.7 80.1 80.4 80.3 79.6 80.9 80.6 62.1
Reserves to external debt stocks (%) 12.3 18.6 3.4 7.6 9.3 12.2 18.5 62.4
Reserves to imports (months) 3.9 9.2 2.7 3.5 3.4 4.7 5.9 ..
92
BURUNDI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 3.9 3.3 0.0 71.4
Total amount forgiven 105.4 16.7 0.0 11.5 28.2 22.4 48.0 821.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 15.8 14.4 14.1 17.3 16.3 18.6 18.5 17.8
Interest 3.8 3.8 3.7 3.6 3.5 3.4 3.2 3.0
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Data include the effects of Paris Club debt restructuring agreement signed in 2009. Data for 2007, 2008, and 2009 include the effects of MDRI and HIPC debt
relief, in the amount of $21,071 in thousands, $22,871 in thousands, and $655,538 in thousands respectively.
93
CAMBODIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,845 2,284 2,628 3,515 3,527 3,761 4,215 4,364
Long-term external debt 1,683 2,110 2,328 3,155 3,318 3,537 3,892 4,099
Public and publicly guaranteed 1,683 2,110 2,328 3,155 3,318 3,537 3,892 4,099
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 27 72 73 81 0 0 0 0
Short-term external debt 136 102 227 279 209 224 323 265
interest arrears on long-term 103 90 131 243 173 164 197 208
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 393 653 1,275 1,485 1,508 1,545 1,599 1,613
/RQJWHUPSXEOLFVHFWRUGHEW 1,683 2,110 2,328 3,155 3,318 3,537 3,892 4,099
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 0 161 185 208 149 390 305 717
External debt flows
Disbursements 0 123 90 168 153 154 383 211
Long-term external debt 0 80 79 168 153 154 383 211
IMF purchases 0 42 11 0 0 0 0 0
Principal repayments 0 5 14 16 15 13 19 26
Long-term external debt 0 5 7 8 15 13 19 26
IMF repurchases 0 0 7 9 0 0 0 0
Net flows 15 100 128 154 138 165 430 116
Long-term external debt 0 75 72 160 138 141 364 185
Short-term external debt 15 -18 52 2 0 24 66 -69
Interest payments 30 3 18 15 15 18 23 23
Long-term external debt 29 1 12 12 13 15 21 22
IMF charges 0 1 1 0 0 0 0 0
Short-term external debt .. .. 5 2 2 3 2 ..
2. Other non-debt resource inflows
Foreign direct investment .. 151 149 381 483 867 815 530
Portfolio equity .. .. 0 0 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 0.8 0.8 0.9 0.9 0.9
Japanese yen 0.6 0.4 0.3 1.1 1.2 1.5 2.0 2.4
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 12.6 27.2 30.2 39.4 39.0 39.0 40.1 40.6
4. Average terms of new commitments
Official creditors
Interest (%) 0.0 1.8 1.3 1.4 1.0 1.5 1.2 1.3
Maturity (years) 0.0 37.5 30.3 26.9 26.2 23.6 29.4 25.4
Grace period (years) 0.0 9.7 8.2 9.2 9.8 7.7 8.6 3.3
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1,115 3,380 3,535 6,039 6,963 8,271 9,896 9,688
Exports of goods, services & income .. 979 1,893 4,096 5,079 5,748 6,462 5,982
Worker remit. & comp. of employees .. 12 121 200 297 353 325 338
Imports of goods, services & income .. 1,442 2,453 4,923 5,971 6,830 8,127 7,422
Profit remittances on FDI .. 4 123 227 270 353 403 349
Current account balance .. -186 -136 -307 -262 -488 -1,051 ..
International reserves .. 192 611 1,158 1,411 2,140 2,639 3,286
6. Ratios
External debt stocks to exports (%) .. 233.3 138.8 85.8 69.4 65.4 65.2 72.9
External debt stocks to GNI (%) 165.5 67.6 74.3 58.2 50.7 45.5 42.6 45.0
Debt service to exports (%) .. 0.7 1.7 0.8 0.6 0.5 0.7 0.8
Short-term to external debt stocks (%) 7.3 4.5 8.6 7.9 5.9 6.0 7.7 6.1
Multilateral to external debt stocks (%) 0.1 5.2 14.5 30.1 33.1 34.5 33.7 34.4
Reserves to external debt stocks (%) .. 8.4 23.3 32.9 40.0 56.9 62.6 75.3
Reserves to imports (months) .. 1.6 3.0 2.8 2.8 3.8 3.9 5.3
94
CAMBODIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 224 0 0 0 1 0 0
Total amount forgiven 0 13 0 0 106 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 63 72 75 87 113 123 129 145
Interest 37 38 38 38 38 36 35 33
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Cambodia was granted debt relief effective in 2006 under MDRI.
95
CAMEROON
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 6,563 10,950 10,323 7,273 3,243 3,004 2,756 2,941
Long-term external debt 5,505 9,908 8,864 6,667 2,733 2,749 2,690 2,743
Public and publicly guaranteed 5,276 9,620 8,547 6,075 2,243 2,113 2,055 2,128
Private nonguaranteed 230 288 317 592 489 636 636 615
Use of IMF credit 121 51 235 272 8 17 24 175
Short-term external debt 936 991 1,224 334 502 238 41 23
interest arrears on long-term 168 349 205 280 434 39 41 23
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 309 474 322 51 91 1 19 68
/RQJWHUPSXEOLFVHFWRUGHEW 5,153 9,543 8,500 6,075 2,243 2,113 2,055 2,128
/RQJWHUPSULYDWHVHFWRUGHEW 353 365 364 592 489 636 636 615
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 479 197 100 47 41 449 147 510
External debt flows
Disbursements 704 174 354 231 162 270 287 487
Long-term external debt 704 161 286 227 158 262 279 339
IMF purchases 0 13 69 4 4 8 8 147
Principal repayments 269 217 270 576 376 369 358 336
Long-term external debt 268 211 253 537 355 369 358 336
IMF repurchases 1 6 17 39 21 0 0 0
Net flows 672 117 -21 -683 -200 32 -270 151
Long-term external debt 436 -50 33 -310 -197 -107 -79 3
Short-term external debt 237 160 -105 -339 14 131 -199 0
Interest payments 247 214 288 245 140 143 119 59
Long-term external debt 194 173 215 231 135 135 115 58
IMF charges 11 2 2 1 0 0 0 0
Short-term external debt 42 38 72 12 4 8 5 0
2. Other non-debt resource inflows
Foreign direct investment -113 7 159 234 16 191 -60 340
Portfolio equity 0 0 0 -4 -6 -14 -1 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 65.9 76.9 72.7 65.7 63.7
Japanese yen 0.3 0.3 0.5 1.3 0.0 0.0 0.0 0.0
Pound sterling 2.4 1.2 2.0 1.7 0.0 0.0 0.0 0.0
Swiss franc 1.2 1.1 0.7 0.6 0.4 0.3 0.3 0.3
U.S.dollars 11.2 9.6 24.4 20.8 10.5 12.6 14.2 14.2
4. Average terms of new commitments
Official creditors
Interest (%) 6.6 2.6 0.9 0.4 1.4 0.9 0.7 1.3
Maturity (years) 15.3 23.3 38.6 30.7 24.3 37.2 37.0 30.0
Grace period (years) 5.3 7.7 9.5 9.2 5.6 8.6 9.3 7.6
Private creditors
Interest (%) 7.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2
Maturity (years) 13.2 0.0 0.0 0.0 0.0 0.0 0.0 12.2
Grace period (years) 2.7 0.0 0.0 0.0 0.0 0.0 0.0 2.4
5. Major economic aggregates
Gross national income (GNI) 10,674 8,205 9,464 16,126 17,706 20,193 22,585 21,602
Exports of goods, services & income 2,516 2,053 2,602 4,280 4,911 6,393 7,439 5,368
Worker remit. & comp. of employees 23 11 30 77 130 167 162 148
Imports of goods, services & income 3,041 2,032 2,960 5,010 5,031 6,552 8,487 6,897
Profit remittances on FDI 138 21 41 289 10 385 165 147
Current account balance -551 90 -249 -493 193 286 -450 -1,137
International reserves 37 15 220 965 1,735 2,932 3,112 3,708
6. Ratios
External debt stocks to exports (%) 260.8 533.4 396.7 169.9 66.0 47.0 37.0 54.8
External debt stocks to GNI (%) 61.5 133.4 109.1 45.1 18.3 14.9 12.2 13.6
Debt service to exports (%) 20.5 21.0 21.5 19.2 10.5 8.0 6.4 7.4
Short-term to external debt stocks (%) 14.3 9.0 11.9 4.6 15.5 7.9 1.5 0.8
Multilateral to external debt stocks (%) 20.2 15.4 13.7 21.8 15.7 18.7 22.4 23.2
Reserves to external debt stocks (%) 0.6 0.1 2.1 13.3 53.5 97.6 113.0 126.1
Reserves to imports (months) 0.1 0.1 0.9 2.3 4.1 5.4 4.4 6.5
96
CAMEROON
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 75 1,070 206 68 20 4 0 0
Total amount forgiven 10 0 7 166 4,292 144 16 65
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 196 176 153 138 139 150 131 125
Interest 57 53 50 47 45 42 39 36
Private creditors
Principal 52 53 53 53 53 53 53 53
Interest 9 9 8 7 6 5 5 4
Notes:
Cameroon was granted debt relief effective in 2006 under MDRI.
97
CAPE VERDE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 133.8 213.8 316.5 475.2 522.1 578.7 624.6 707.2
Long-term external debt 129.1 184.6 312.6 461.9 508.4 564.0 610.8 694.7
Public and publicly guaranteed 129.1 184.6 312.6 461.9 508.4 564.0 610.8 694.7
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 12.3 13.0 13.5 12.4 11.0
Short-term external debt 4.7 29.2 3.9 0.9 0.7 1.3 1.4 1.5
interest arrears on long-term 2.3 4.6 3.9 0.9 0.7 1.3 1.4 1.5
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 11.1 19.6 32.2 3.2 2.4 2.4 2.4 2.4
/RQJWHUPSXEOLFVHFWRUGHEW 129.1 184.6 312.6 461.9 508.4 564.0 610.8 694.7
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 35.9 11.5 33.9 88.8 27.4 209.9 379.0 251.8
External debt flows
Disbursements 12.1 21.4 28.8 77.9 48.9 51.1 74.8 97.3
Long-term external debt 12.1 21.4 28.8 74.3 48.9 51.1 74.8 97.3
IMF purchases 0.0 0.0 0.0 3.7 0.0 0.0 0.0 0.0
Principal repayments 3.7 5.6 11.1 28.6 25.0 22.7 24.5 25.9
Long-term external debt 3.7 5.6 11.1 28.6 25.0 22.5 23.7 24.4
IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.2 0.8 1.5
Net flows 10.7 34.4 2.0 49.3 23.9 28.4 50.4 71.4
Long-term external debt 8.3 15.8 17.7 45.7 23.9 28.6 51.1 72.9
Short-term external debt 2.4 18.7 -15.7 0.0 0.0 0.0 0.0 0.0
Interest payments 2.0 4.1 4.7 6.8 6.3 6.4 6.6 7.0
Long-term external debt 1.9 3.4 4.7 6.8 6.2 6.4 6.5 6.9
IMF charges 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1
Short-term external debt 0.1 0.8 0.0 0.0 0.0 0.0 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 0.3 26.2 33.4 80.4 131.8 191.9 211.3 119.6
Portfolio equity 0.0 0.0 .. 0.0 0.3 2.2 0.0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 13.4 15.0 16.1 18.2 19.2
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 38.5 35.3 55.8 54.1 53.3 49.6 48.5 43.2
4. Average terms of new commitments
Official creditors
Interest (%) 1.5 0.8 2.0 3.5 2.9 1.3 2.0 1.6
Maturity (years) 42.6 39.8 31.3 32.5 38.1 25.7 26.9 26.6
Grace period (years) 9.1 10.3 10.4 8.4 9.0 8.2 6.7 7.2
Private creditors
Interest (%) 0.0 0.0 5.7 0.0 0.0 0.0 0.0 1.7
Maturity (years) 0.0 0.0 10.6 0.0 0.0 0.0 0.0 33.0
Grace period (years) 0.0 0.0 2.2 0.0 0.0 0.0 0.0 12.8
5. Major economic aggregates
Gross national income (GNI) 340.5 485.3 520.0 965.7 1062.9 1304.8 1484.4 1499.1
Exports of goods, services & income 63.2 87.5 150.9 377.5 497.0 599.4 744.6 ..
Worker remit. & comp. of employees 59.1 105.9 86.9 136.6 136.6 138.9 155.1 149.2
Imports of goods, services & income 153.1 300.7 343.6 699.0 868.8 1099.0 1265.2 ..
Profit remittances on FDI 0.0 0.5 5.1 10.9 24.1 28.2 38.2 ..
Current account balance -3.8 -61.6 -58.0 -40.7 -82.7 -198.3 -205.5 ..
International reserves 77.0 36.9 28.3 164.6 244.4 364.5 361.5 366.2
6. Ratios
External debt stocks to exports (%) 211.5 244.4 209.7 125.9 105.0 96.6 83.9 ..
External debt stocks to GNI (%) 39.3 44.1 60.9 49.2 49.1 44.4 42.1 47.2
Debt service to exports (%) 9.1 11.2 10.5 9.4 6.3 4.9 4.2 ..
Short-term to external debt stocks (%) 3.5 13.7 1.2 0.2 0.1 0.2 0.2 0.2
Multilateral to external debt stocks (%) 65.0 67.3 72.4 78.8 78.9 78.6 77.3 75.3
Reserves to external debt stocks (%) 57.5 17.3 8.9 34.6 46.8 63.0 57.9 51.8
Reserves to imports (months) 6.0 1.5 1.0 2.8 3.4 4.0 3.4 ..
98
CAPE VERDE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 9.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 24.0 24.5 22.7 41.3 42.7 46.1 45.7 47.0
Interest 10.1 12.6 14.1 14.7 14.6 14.3 13.7 13.1
Private creditors
Principal 3.6 2.3 0.5 0.0 0.0 0.0 0.0 0.0
Interest 0.1 1.0 2.2 2.4 2.5 2.5 2.5 2.5
99
CENTRAL AFRICAN REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 698.5 946.0 860.0 1019.9 1010.2 964.2 955.1 396.0
Long-term external debt 624.1 853.9 797.3 877.5 868.5 849.0 817.1 250.4
Public and publicly guaranteed 624.1 853.9 797.3 877.5 868.5 849.0 817.1 250.4
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 36.7 34.9 21.5 35.9 42.1 49.4 63.0 78.4
Short-term external debt 37.7 57.1 41.2 106.6 99.6 65.8 75.0 67.2
interest arrears on long-term 15.0 35.7 26.1 97.6 90.6 65.8 63.0 63.2
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 23.2 74.2 97.7 227.1 218.7 170.8 158.2 156.6
/RQJWHUPSXEOLFVHFWRUGHEW 624.1 853.7 796.3 876.1 867.0 847.4 817.1 250.4
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.3 1.0 1.3 1.5 1.6 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 174.9 16.6 28.0 0.0 0.0 0.0 0.0 0.0
External debt flows
Disbursements 121.1 32.6 16.1 0.0 10.2 34.9 24.9 43.5
Long-term external debt 112.8 32.6 16.1 0.0 0.0 3.2 1.9 3.8
IMF purchases 8.3 0.0 0.0 0.0 10.2 31.7 23.0 39.6
Principal repayments 17.4 10.0 8.3 5.3 52.7 68.7 19.4 28.2
Long-term external debt 7.6 2.6 7.5 0.4 46.7 42.1 11.7 8.9
IMF repurchases 9.8 7.4 0.8 4.9 6.0 26.7 7.7 19.4
Net flows 106.6 25.1 -13.8 -5.3 -42.5 -42.9 17.5 7.2
Long-term external debt 105.2 30.0 8.6 -0.4 -46.7 -38.9 -9.8 -5.0
Short-term external debt 2.9 2.4 -21.6 0.0 0.0 -9.0 12.0 -8.0
Interest payments 11.8 5.7 5.9 0.9 17.7 20.2 6.6 3.6
Long-term external debt 9.0 3.5 4.3 0.1 16.5 19.6 6.1 3.2
IMF charges 1.2 1.0 0.1 0.4 0.9 0.4 0.3 0.3
Short-term external debt 1.6 1.2 1.4 0.3 0.3 0.2 0.2 0.1
2. Other non-debt resource inflows
Foreign direct investment 0.7 6.2 0.8 32.4 34.6 56.7 117.1 42.3
Portfolio equity 0.0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.9 6.3 3.8 3.4 5.3
Japanese yen 0.7 0.7 0.7 0.6 0.6 0.3 0.4 0.0
Pound sterling 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.0
Swiss franc 2.6 2.8 2.2 2.5 2.7 2.2 2.3 4.7
U.S.dollars 43.6 56.2 61.2 59.6 57.5 61.9 63.1 56.6
4. Average terms of new commitments
Official creditors
Interest (%) 1.0 0.8 0.8 0.0 0.0 0.0 0.0 0.0
Maturity (years) 37.6 39.7 39.8 0.0 0.0 0.0 0.0 0.0
Grace period (years) 10.2 10.2 10.3 0.0 0.0 0.0 0.0 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1465.1 1100.9 946.8 1348.0 1472.9 1701.9 1965.8 1983.3
Exports of goods, services & income 220.4 .. .. .. .. .. .. ..
Worker remit. & comp. of employees 0.1 .. .. .. .. .. .. ..
Imports of goods, services & income 432.5 .. .. .. .. 381.4 464.5 ..
Profit remittances on FDI 2.1 .. .. .. .. .. .. ..
Current account balance -89.1 .. .. .. .. .. .. ..
International reserves 122.9 237.9 136.3 144.9 132.4 91.9 131.5 222.7
6. Ratios
External debt stocks to exports (%) 317.0 .. .. .. .. .. .. ..
External debt stocks to GNI (%) 47.7 85.9 90.8 75.7 68.6 56.7 48.6 20.0
Debt service to exports (%) 13.2 .. .. .. .. .. .. ..
Short-term to external debt stocks (%) 5.4 6.0 4.8 10.5 9.9 6.8 7.8 17.0
Multilateral to external debt stocks (%) 65.2 67.3 67.8 61.6 60.7 62.6 60.2 15.1
Reserves to external debt stocks (%) 17.6 25.2 15.9 14.2 13.1 9.5 13.8 56.2
Reserves to imports (months) 3.4 .. .. .. .. 2.9 3.4 ..
100
CENTRAL AFRICAN REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 4.4 7.6 2.9 0.0 0.0 20.8 3.2 0.0
Total amount forgiven 157.5 1.3 0.7 0.0 0.0 8.2 14.1 519.5
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 3.3 3.7 3.8 3.8 4.0 4.0 4.3 4.4
Interest 1.7 1.6 1.6 1.5 1.5 1.4 1.3 1.2
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Data on long-term public debt for 2009 are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreements signed in 2007 and
in 2009. Data for 2007, 2008, and 2009 include the effects of MDRI and HIPC debt relief, in the amount of $1,510 in thousands, $9,416 in thousands, and
$380,659 in thousands respectively.
101
CHAD
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 514 843 1,090 1,585 1,707 1,797 1,749 1,743
Long-term external debt 454 777 987 1,495 1,628 1,712 1,705 1,711
Public and publicly guaranteed 454 777 987 1,495 1,628 1,712 1,705 1,711
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 30 49 78 79 68 56 41 29
Short-term external debt 30 17 25 11 12 29 4 4
interest arrears on long-term 6 9 10 6 8 6 4 4
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 16 36 52 26 24 22 26 28
/RQJWHUPSXEOLFVHFWRUGHEW 454 777 987 1,495 1,628 1,712 1,705 1,711
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 83 116 178 134 7 141 11 3
External debt flows
Disbursements 103 73 59 116 102 50 97 35
Long-term external debt 94 61 46 110 102 50 97 35
IMF purchases 8 13 14 6 0 0 0 0
Principal repayments 7 10 14 38 40 49 119 55
Long-term external debt 3 3 13 24 24 34 105 42
IMF repurchases 4 7 1 13 16 15 14 13
Net flows 98 63 44 75 61 21 -45 -19
Long-term external debt 91 57 33 85 78 17 -8 -7
Short-term external debt 2 0 -2 -3 -1 19 -23 0
Interest payments 5 5 10 17 17 19 19 23
Long-term external debt 3 4 9 16 16 19 18 23
IMF charges 0 1 0 0 0 0 0 0
Short-term external debt 2 1 1 0 0 1 0 0
2. Other non-debt resource inflows
Foreign direct investment 9 33 115 -99 -279 -69 234 462
Portfolio equity 0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.3 3.9 3.6 3.3 3.3
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 49.6 54.8 58.6 66.1 65.0 64.4 60.2 59.8
4. Average terms of new commitments
Official creditors
Interest (%) 1.8 1.0 0.7 1.6 0.0 1.3 0.0 2.0
Maturity (years) 31.0 38.0 40.5 23.8 28.6 19.9 24.0 24.6
Grace period (years) 9.1 8.7 10.1 6.6 9.1 6.9 6.5 5.1
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1,721 1,441 1,368 4,435 5,125 5,808 6,699 6,090
Exports of goods, services & income 274 .. .. 3,234 3,714 3,791 4,367 2,825
Worker remit. & comp. of employees 1 .. .. .. .. .. .. ..
Imports of goods, services & income 511 .. .. 3,191 3,366 4,814 5,818 5,456
Profit remittances on FDI 0 .. .. .. .. .. .. ..
Current account balance -46 .. .. .. .. .. .. ..
International reserves 132 147 114 231 632 964 1,355 629
6. Ratios
External debt stocks to exports (%) 187.5 .. .. 49.0 46.0 47.4 40.1 61.7
External debt stocks to GNI (%) 29.9 58.5 79.7 35.7 33.3 30.9 26.1 28.6
Debt service to exports (%) 4.3 .. .. 1.7 1.5 1.8 3.2 2.8
Short-term to external debt stocks (%) 5.8 2.0 2.3 0.7 0.7 1.6 0.2 0.2
Multilateral to external debt stocks (%) 65.5 76.5 76.6 84.5 84.9 85.0 84.0 84.9
Reserves to external debt stocks (%) 25.7 17.4 10.4 14.6 37.0 53.7 77.5 36.1
Reserves to imports (months) 3.1 .. .. 0.9 2.3 2.4 2.8 1.4
102
CHAD
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 8 46 0 12 0 0 0 0
Total amount forgiven 12 62 0 18 22 5 4 5
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 62 65 70 72 80 85 81 82
Interest 19 19 18 17 16 15 14 13
Private creditors
Principal 6 2 2 2 2 2 1 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data for 2007 include the effects of Enhanced HIPC Initiative, in the amount of $3,612 in thousands.
103
CHILE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 19,226 22,038 37,261 45,446 48,052 56,443 64,297 71,646
Long-term external debt 14,687 18,607 31,089 38,357 38,734 45,387 49,387 54,170
Public and publicly guaranteed 10,425 7,178 5,228 9,173 9,390 9,325 8,782 9,282
Private nonguaranteed 4,263 11,429 25,861 29,184 29,344 36,062 40,605 44,888
Use of IMF credit 1,156 0 0 0 0 0 0 0
Short-term external debt 3,382 3,431 6,172 7,089 9,318 11,056 14,910 17,476
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 10,421 7,178 5,148 9,170 9,377 9,313 8,773 9,276
/RQJWHUPSULYDWHVHFWRUGHEW 4,267 11,429 25,941 29,188 29,357 36,073 40,613 44,894
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 1,049 314 324 995 1,423 894 1,063 1,927
External debt flows
Disbursements 2,253 3,821 4,966 9,156 12,620 13,201 17,314 18,117
Long-term external debt 2,253 3,821 4,966 9,156 12,620 13,201 17,314 18,117
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 980 3,671 3,938 6,075 12,553 9,222 13,863 13,611
Long-term external debt 771 3,369 3,938 6,075 12,553 9,222 13,863 13,611
IMF repurchases 208 303 0 0 0 0 0 0
Net flows 1,682 -284 2,883 2,718 2,296 5,717 7,304 7,072
Long-term external debt 1,481 452 1,028 3,081 67 3,979 3,450 4,506
Short-term external debt 409 -434 1,855 -363 2,229 1,738 3,854 2,566
Interest payments 1,792 1,293 2,235 1,510 1,993 2,276 2,023 1,672
Long-term external debt 1,364 1,114 2,081 1,290 1,655 1,723 1,634 1,218
IMF charges 118 13 0 0 0 0 0 0
Short-term external debt 310 165 154 221 338 553 389 454
2. Other non-debt resource inflows
Foreign direct investment 661 2,957 4,860 6,984 7,298 12,534 15,181 12,702
Portfolio equity 367 -249 -427 1,571 -124 388 1,904 316
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.0 1.1 1.2 1.1 1.0
Japanese yen 8.2 9.5 5.0 0.4 2.5 2.2 0.0 0.0
Pound sterling 3.4 2.9 0.2 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.6 0.9 0.1 0.0 0.0 0.0 0.0 0.0
U.S.dollars 40.2 42.0 84.2 98.0 95.8 96.0 98.2 98.5
4. Average terms of new commitments
Official creditors
Interest (%) 7.7 6.1 1.0 4.2 5.2 5.1 2.8 0.0
Maturity (years) 18.8 19.5 17.0 13.1 13.1 15.7 9.8 0.0
Grace period (years) 4.3 5.8 1.5 4.7 6.0 5.5 5.7 0.0
Private creditors
Interest (%) 9.3 6.8 7.0 5.1 5.8 5.6 4.7 4.5
Maturity (years) 7.6 10.9 6.3 19.2 15.7 6.4 5.6 6.5
Grace period (years) 2.3 3.0 3.0 18.2 13.0 5.0 2.2 5.9
5. Major economic aggregates
Gross national income (GNI) 29,800 68,637 72,333 107,763 128,372 145,691 157,427 153,364
Exports of goods, services & income 10,705 20,226 24,891 50,853 69,885 83,259 83,545 67,595
Worker remit. & comp. of employees 0 .. 13 13 3 3 3 4
Imports of goods, services & income 11,387 21,883 26,346 51,187 66,137 78,930 88,992 64,994
Profit remittances on FDI 387 2,178 2,539 11,416 19,913 22,832 17,419 14,088
Current account balance -485 -1,350 -898 1,449 7,154 7,458 -2,513 4,217
International reserves 6,784 14,860 15,055 16,933 19,397 16,843 23,079 25,292
6. Ratios
External debt stocks to exports (%) 179.6 109.0 149.7 89.4 68.8 67.8 77.0 106.0
External debt stocks to GNI (%) 64.5 32.1 51.5 42.2 37.4 38.7 40.8 46.7
Debt service to exports (%) 25.9 24.5 24.8 14.9 20.8 13.8 19.0 22.6
Short-term to external debt stocks (%) 17.6 15.6 16.6 15.6 19.4 19.6 23.2 24.4
Multilateral to external debt stocks (%) 21.5 13.0 3.8 1.8 1.9 1.6 1.2 1.2
Reserves to external debt stocks (%) 35.3 67.4 40.4 37.3 40.4 29.8 35.9 35.3
Reserves to imports (months) 7.1 8.1 6.9 4.0 3.5 2.6 3.1 4.7
104
CHILE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 4,172 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 192 122 77 101 153 154 153 147
Interest 29 28 27 26 24 22 19 16
Private creditors
Principal 13,678 5,608 6,468 5,606 3,809 2,298 1,278 1,153
Interest 1,647 1,439 1,310 978 880 1,755 600 800
Notes:
Short-term debt is based on reports provided by the country.
105
CHINA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 55,301 118,090 145,711 283,986 325,260 373,773 378,245 428,442
Long-term external debt 45,515 95,764 132,631 135,719 151,883 170,075 191,057 187,933
Public and publicly guaranteed 45,515 94,674 94,842 85,227 88,217 87,791 89,282 93,125
Private nonguaranteed 0 1,090 37,789 50,492 63,666 82,284 101,774 94,808
Use of IMF credit 469 0 0 0 0 0 0 0
Short-term external debt 9,317 22,325 13,080 148,267 173,377 203,698 187,188 240,509
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 45,449 93,573 94,842 84,968 87,972 87,619 89,125 92,982
/RQJWHUPSULYDWHVHFWRUGHEW 66 2,192 37,789 50,751 63,910 82,456 101,932 94,951
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 9,988 22,812 10,702 10,233 6,275 6,927 6,010 7,273
External debt flows
Disbursements 9,665 21,985 16,776 29,228 26,524 36,339 38,188 23,105
Long-term external debt 9,665 21,985 16,776 29,228 26,524 36,339 38,188 23,105
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 3,809 9,070 19,924 20,846 18,120 20,790 25,143 34,478
Long-term external debt 3,319 9,070 19,924 20,846 18,120 20,790 25,143 34,478
IMF repurchases 490 0 0 0 0 0 0 0
Net flows 8,267 17,758 -5,247 40,878 33,514 45,870 -3,465 41,948
Long-term external debt 6,346 12,915 -3,147 8,381 8,404 15,549 13,045 -11,373
Short-term external debt 2,410 4,842 -2,100 32,497 25,110 30,321 -16,510 53,321
Interest payments 3,248 5,996 7,165 6,519 9,359 11,395 9,246 7,352
Long-term external debt 2,534 4,657 5,998 3,218 3,818 5,454 4,760 4,144
IMF charges 65 0 0 0 0 0 0 0
Short-term external debt 649 1,340 1,168 3,302 5,541 5,942 4,486 3,208
2. Other non-debt resource inflows
Foreign direct investment 3,487 35,849 38,399 79,127 78,095 138,413 147,791 78,193
Portfolio equity 0 0 6,912 20,346 42,861 18,510 8,721 28,161
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.0 8.4 8.1 6.6 6.2
Japanese yen 30.4 20.7 16.9 13.5 12.0 8.4 9.1 7.9
Pound sterling 0.7 0.2 0.1 0.1 0.1 0.1 0.0 0.0
Swiss franc 0.2 0.0 0.1 0.1 0.1 0.0 0.0 0.0
U.S.dollars 29.1 58.1 71.5 74.7 76.3 80.6 81.7 83.8
4. Average terms of new commitments
Official creditors
Interest (%) 3.7 6.8 7.2 4.3 5.4 5.4 3.6 1.8
Maturity (years) 27.9 18.3 21.1 22.5 22.7 21.8 23.0 25.9
Grace period (years) 7.9 3.7 4.9 5.5 5.7 5.4 5.8 5.8
Private creditors
Interest (%) 8.6 6.3 5.9 4.6 5.0 4.1 4.6 5.0
Maturity (years) 13.3 7.3 17.0 9.1 14.4 9.0 13.0 14.5
Grace period (years) 2.7 2.4 1.8 5.2 0.9 1.4 1.1 0.9
5. Major economic aggregates
Gross national income (GNI) 357,992 716,233 1,183,815 2,267,698 2,732,021 3,531,214 4,564,224 4,937,980
Exports of goods, services & income 60,391 152,431 292,111 875,847 1,116,323 1,425,236 1,673,328 1,441,928
Worker remit. & comp. of employees 175 878 5,237 24,102 27,954 38,791 48,524 47,553
Imports of goods, services & income 48,668 152,248 277,904 740,414 892,255 1,092,071 1,293,020 1,178,534
Profit remittances on FDI 46 9,953 20,198 21,040 29,236 43,711 48,866 54,783
Current account balance 11,997 1,618 20,518 160,818 253,268 371,833 426,107 ..
International reserves 34,476 80,288 171,763 831,410 1,080,756 1,546,365 1,966,037 2,452,899
6. Ratios
External debt stocks to exports (%) 91.6 77.5 49.9 32.4 29.1 26.2 22.6 29.7
External debt stocks to GNI (%) 15.4 16.5 12.3 12.5 11.9 10.6 8.3 8.7
Debt service to exports (%) 11.7 9.9 9.3 3.1 2.5 2.3 2.1 2.9
Short-term to external debt stocks (%) 16.8 18.9 9.0 52.2 53.3 54.5 49.5 56.1
Multilateral to external debt stocks (%) 11.1 13.8 17.7 9.3 8.5 7.8 8.1 7.7
Reserves to external debt stocks (%) 62.3 68.0 117.9 292.8 332.3 413.7 519.8 572.5
Reserves to imports (months) 8.5 6.3 7.4 13.5 14.5 17.0 18.2 25.0
106
CHINA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 6,665 6,171 6,243 5,841 5,829 5,670 5,428 5,326
Interest 2,085 1,863 1,668 1,480 1,305 1,133 968 808
Private creditors
Principal 30,633 23,422 18,654 12,102 11,167 9,808 5,633 4,000
Interest 5,363 4,062 2,940 2,190 1,631 1,081 602 304
Notes:
Data on long-term public and publicly guaranteed, long-term private nonguaranteed and short-term debt for 2009 are World Bank staff estimates based on
aggregate information provided by the authority.
107
COLOMBIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 17,222 25,044 33,937 37,720 38,024 43,675 46,551 52,223
Long-term external debt 15,784 19,499 31,066 31,544 33,261 38,514 40,918 48,113
Public and publicly guaranteed 14,671 13,946 20,806 22,555 24,720 27,402 28,960 35,364
Private nonguaranteed 1,113 5,553 10,259 8,989 8,541 11,112 11,958 12,749
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 1,438 5,545 2,871 6,176 4,763 5,161 5,633 4,110
interest arrears on long-term 28 2 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 409 177 8 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 14,630 13,945 20,805 22,554 24,719 27,401 28,483 34,837
/RQJWHUPSULYDWHVHFWRUGHEW 1,154 5,555 10,261 8,990 8,542 11,113 12,435 13,276
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 1,269 1,792 3,782 4,879 4,916 4,647 5,106 7,971
External debt flows
Disbursements 1,994 4,179 3,803 6,496 8,943 8,860 7,219 13,183
Long-term external debt 1,994 4,179 3,803 6,496 8,943 8,860 7,219 13,183
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 2,189 2,347 2,900 7,403 7,769 5,641 4,878 5,923
Long-term external debt 2,189 2,347 2,900 7,403 7,769 5,641 4,878 5,923
IMF repurchases 0 0 0 0 0 0 0 0
Net flows -399 2,894 -191 149 -240 3,618 2,814 5,737
Long-term external debt -195 1,832 903 -907 1,174 3,220 2,342 7,260
Short-term external debt -204 1,062 -1,094 1,056 -1,413 398 472 -1,523
Interest payments 1,701 1,998 2,204 2,838 2,577 2,992 3,034 2,917
Long-term external debt 1,558 1,687 2,032 2,584 2,357 2,748 2,769 2,724
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 143 311 172 254 220 244 265 193
2. Other non-debt resource inflows
Foreign direct investment 500 968 2,436 10,252 6,656 9,049 10,596 7,260
Portfolio equity 0 165 17 86 -30 790 -86 67
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 4.2 3.5 3.5 1.4 1.1
Japanese yen 4.9 5.6 3.6 1.6 1.3 1.1 1.1 2.2
Pound sterling 0.3 0.1 0.8 0.8 0.8 0.8 0.0 0.0
Swiss franc 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 44.0 49.9 74.4 85.2 88.0 89.8 93.7 94.3
4. Average terms of new commitments
Official creditors
Interest (%) 7.5 6.4 8.8 5.1 5.5 5.7 3.7 1.3
Maturity (years) 18.7 20.4 12.1 15.9 17.7 12.3 23.1 23.9
Grace period (years) 5.4 4.8 3.1 6.0 5.3 4.8 7.1 7.0
Private creditors
Interest (%) 9.3 3.8 7.6 8.0 7.5 9.2 6.8 6.6
Maturity (years) 10.2 6.1 10.2 11.4 18.3 13.4 14.5 14.0
Grace period (years) 2.2 4.0 7.5 10.2 17.9 13.2 13.7 13.6
5. Major economic aggregates
Gross national income (GNI) 38,193 90,924 91,738 139,124 156,417 199,900 232,964 221,200
Exports of goods, services & income 9,026 12,971 16,850 25,467 30,077 36,067 44,414 39,421
Worker remit. & comp. of employees 495 815 1,610 3,346 3,928 4,523 4,884 4,180
Imports of goods, services & income 9,510 18,286 17,728 31,435 37,808 47,273 56,809 49,186
Profit remittances on FDI 964 359 655 3,565 4,591 6,598 8,706 7,555
Current account balance 542 -4,516 795 -1,886 -2,989 -5,977 -6,883 -5,146
International reserves 4,869 8,452 9,006 14,955 15,437 20,951 23,671 24,987
6. Ratios
External debt stocks to exports (%) 190.8 193.1 201.4 148.1 126.4 121.1 104.8 132.5
External debt stocks to GNI (%) 45.1 27.5 37.0 27.1 24.3 21.8 20.0 23.6
Debt service to exports (%) 43.1 33.5 30.3 40.2 34.4 23.9 17.8 22.4
Short-term to external debt stocks (%) 8.4 22.1 8.5 16.4 12.5 11.8 12.1 7.9
Multilateral to external debt stocks (%) 35.4 21.2 18.5 25.5 28.5 25.8 28.2 28.2
Reserves to external debt stocks (%) 28.3 33.7 26.5 39.6 40.6 48.0 50.8 47.8
Reserves to imports (months) 6.1 5.5 6.1 5.7 4.9 5.3 5.0 6.1
108
COLOMBIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 878 1,060 1,103 1,074 1,323 1,194 1,107 984
Interest 378 353 327 303 275 247 221 199
Private creditors
Principal 4,381 2,253 3,701 1,443 2,601 1,469 623 2,900
Interest 1,962 1,717 1,598 1,341 1,277 1,093 981 950
Notes:
Short-term debt is based on the Central Bank data.
109
COMOROS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 187.8 214.5 236.6 291.8 296.7 291.8 282.0 279.3
Long-term external debt 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8
Public and publicly guaranteed 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 3.3 1.5 0.0 0.0 0.0 5.1 10.1
Short-term external debt 12.4 10.0 28.1 33.7 36.3 11.8 5.8 5.4
interest arrears on long-term 12.2 8.0 19.1 30.7 32.3 7.8 5.8 5.4
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 25.5 26.7 60.2 74.1 78.6 38.5 27.4 24.8
/RQJWHUPSXEOLFVHFWRUGHEW 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 0.9 4.7 0.0 0.6 0.0 0.0 0.0 0.0
External debt flows
Disbursements 5.1 9.6 2.1 3.3 3.0 4.8 6.7 6.9
Long-term external debt 5.1 9.6 2.1 3.3 3.0 4.8 1.4 0.3
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 5.3 6.5
Principal repayments 0.2 0.4 1.8 2.6 2.4 12.8 8.1 8.9
Long-term external debt 0.2 0.4 1.2 2.6 2.4 12.8 8.1 7.2
IMF repurchases 0.0 0.0 0.6 0.0 0.0 0.0 0.0 1.7
Net flows 1.8 11.2 2.3 0.7 1.6 -8.0 -5.5 -2.1
Long-term external debt 4.8 9.2 0.9 0.7 0.6 -8.0 -6.7 -6.9
Short-term external debt -3.0 2.0 2.0 0.0 1.0 0.0 -4.0 0.0
Interest payments 0.9 0.6 1.4 1.4 1.4 13.3 4.2 2.9
Long-term external debt 0.7 0.5 0.8 1.3 1.2 13.1 4.2 2.9
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.2 0.1 0.6 0.2 0.2 0.2 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 0.4 0.9 0.1 0.6 0.6 7.5 7.5 9.1
Portfolio equity 0.0 0.0 .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 12.4 12.3 11.6 11.4 11.4
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 16.7 27.1 31.9 40.6 41.3 42.5 43.1 43.7
4. Average terms of new commitments
Official creditors
Interest (%) 2.0 0.9 0.0 1.0 0.0 0.0 0.0 0.0
Maturity (years) 29.8 37.7 0.0 39.7 0.0 0.0 0.0 0.0
Grace period (years) 10.3 10.4 0.0 10.2 0.0 0.0 0.0 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 249.3 232.9 202.2 384.6 403.6 466.9 531.2 547.9
Exports of goods, services & income 38.1 49.2 .. .. .. .. .. ..
Worker remit. & comp. of employees 9.9 12.2 12.0 12.0 12.0 12.0 12.0 12.0
Imports of goods, services & income 93.4 105.7 .. .. .. 173.7 195.9 ..
Profit remittances on FDI 0.6 0.2 .. .. .. .. .. ..
Current account balance -10.5 -19.0 .. .. .. .. .. ..
International reserves 29.9 44.9 43.4 86.1 93.9 117.6 112.7 ..
6. Ratios
External debt stocks to exports (%) 492.2 435.8 .. .. .. .. .. ..
External debt stocks to GNI (%) 75.3 92.1 117.0 75.9 73.5 62.5 53.1 51.0
Debt service to exports (%) 2.9 2.0 .. .. .. .. .. ..
Short-term to external debt stocks (%) 6.6 4.7 11.9 11.6 12.2 4.1 2.1 1.9
Multilateral to external debt stocks (%) 61.0 72.9 70.1 71.1 73.1 78.2 77.8 76.8
Reserves to external debt stocks (%) 15.9 20.9 18.3 29.5 31.6 40.3 40.0 ..
Reserves to imports (months) 3.8 5.1 .. .. .. 8.1 6.9 ..
110
COMOROS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 2.0 0.0 0.0 0.0 68.6 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 7.6 7.8 8.1 7.2 7.5 7.9 7.9 7.9
Interest 1.7 1.7 1.7 1.6 1.6 1.5 1.5 1.4
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
111
CONGO, DEMOCRATIC REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 10,259 13,239 11,692 10,600 11,244 12,359 12,196 12,183
Long-term external debt 8,994 9,636 7,880 9,412 9,891 10,928 10,872 10,788
Public and publicly guaranteed 8,994 9,636 7,880 9,412 9,891 10,928 10,872 10,788
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 521 485 391 791 833 808 654 800
Short-term external debt 744 3,118 3,421 397 520 623 670 596
interest arrears on long-term 265 2,937 3,042 359 378 443 464 482
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1,050 4,569 4,949 1,186 1,279 1,530 1,676 2,168
/RQJWHUPSXEOLFVHFWRUGHEW 8,994 9,621 7,867 9,412 9,891 10,928 10,872 10,788
/RQJWHUPSULYDWHVHFWRUGHEW 0 15 13 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 109 14 0 45 45 0 0 0
External debt flows
Disbursements 315 0 0 288 182 116 100 387
Long-term external debt 315 0 0 249 182 116 100 105
IMF purchases 0 0 0 39 0 0 0 282
Principal repayments 201 1 0 112 142 223 310 449
Long-term external debt 49 0 0 112 142 158 173 298
IMF repurchases 152 1 0 0 0 64 137 150
Net flows 88 61 20 95 144 -68 -185 -154
Long-term external debt 266 0 0 137 40 -42 -74 -193
Short-term external debt -27 63 20 -81 104 38 26 -92
Interest payments 147 24 25 102 143 280 288 251
Long-term external debt 88 0 0 97 134 269 278 245
IMF charges 38 16 0 2 4 4 4 4
Short-term external debt 21 8 25 3 5 6 6 2
2. Other non-debt resource inflows
Foreign direct investment -14 -22 72 .. 256 1,808 1,727 951
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 30.1 31.3 31.0 28.9 29.2
Japanese yen 3.0 3.7 4.8 7.3 6.8 6.3 7.9 7.7
Pound sterling 1.2 0.9 1.1 1.2 1.3 1.2 0.9 1.0
Swiss franc 0.2 0.3 0.2 0.3 0.3 0.3 0.3 0.2
U.S.dollars 41.5 40.8 44.6 46.0 45.2 41.8 42.1 41.4
4. Average terms of new commitments
Official creditors
Interest (%) 5.9 2.5 0.0 1.5 2.2 0.0 0.0 0.0
Maturity (years) 23.8 19.9 0.0 30.3 27.8 0.0 0.0 0.0
Grace period (years) 6.4 4.4 0.0 6.7 1.7 0.0 0.0 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 1.3 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 8,579 4,878 3,918 6,760 8,143 9,621 10,396 10,034
Exports of goods, services & income .. .. .. .. .. .. .. ..
Worker remit. & comp. of employees .. .. .. .. .. .. .. ..
Imports of goods, services & income .. .. .. .. .. 98,053 106,338 80,328
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. .. .. .. .. .. ..
International reserves 261 157 83 131 155 181 78 ..
6. Ratios
External debt stocks to exports (%) .. .. .. .. .. .. .. ..
External debt stocks to GNI (%) 119.6 271.4 298.4 156.8 138.1 128.5 117.3 121.4
Debt service to exports (%) .. .. .. .. .. .. .. ..
Short-term to external debt stocks (%) 7.2 23.6 29.3 3.7 4.6 5.0 5.5 4.9
Multilateral to external debt stocks (%) 18.6 18.0 18.5 28.8 29.2 32.8 34.0 34.4
Reserves to external debt stocks (%) 2.5 1.2 0.7 1.2 1.4 1.5 0.6 ..
Reserves to imports (months) .. .. .. .. .. 0.0 0.0 ..
112
CONGO, DEMOCRATIC REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 446 0 0 34 0 0 0 0
Total amount forgiven 24 0 0 95 37 40 161 37
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 302 314 324 341 299 256 266 324
Interest 135 129 123 117 110 106 103 99
Private creditors
Principal 4 4 4 4 4 1 1 1
Interest 1 1 0 0 0 0 0 0
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Data for 2007, 2008, and 2009 include the effects of Enhanced
HIPC Initiative, in the amount of $40,433 in thousands, $42,477 in thousands, and $37,364 in thousands respectively.
113
CONGO, REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 4,903 5,887 4,782 6,154 6,561 5,648 5,931 5,041
Long-term external debt 4,160 4,867 3,682 5,413 5,749 5,247 5,504 4,785
Public and publicly guaranteed 4,160 4,867 3,682 5,413 5,749 5,247 5,504 4,785
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 11 19 41 26 35 37 38 43
Short-term external debt 732 1,002 1,059 714 776 364 389 213
interest arrears on long-term 177 412 638 703 713 259 252 144
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 569 950 1,727 2,511 2,564 1,008 978 512
/RQJWHUPSXEOLFVHFWRUGHEW 4,160 4,867 3,682 5,413 5,749 5,247 5,504 4,785
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 192 31 24 630 17 10 13 394
External debt flows
Disbursements 325 15 15 242 153 28 21 10
Long-term external debt 320 15 1 231 142 28 19 7
IMF purchases 5 0 14 12 12 0 2 4
Principal repayments 357 88 6 77 54 74 112 86
Long-term external debt 350 85 6 65 50 74 112 86
IMF repurchases 7 2 0 12 4 0 0 0
Net flows 106 163 -52 176 151 -4 -60 -144
Long-term external debt -30 -70 -5 165 92 -46 -94 -80
Short-term external debt 138 236 -61 11 52 42 32 -68
Interest payments 163 99 38 35 33 34 70 77
Long-term external debt 114 62 7 34 31 29 64 75
IMF charges 1 1 1 0 0 0 0 0
Short-term external debt 48 35 30 0 2 4 5 2
2. Other non-debt resource inflows
Foreign direct investment 23 125 166 514 1,488 2,638 2,483 2,083
Portfolio equity 0 0 0 .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 35.9 36.0 41.9 40.3 42.6
Japanese yen 0.2 0.2 0.2 0.1 0.1 0.2 0.2 0.0
Pound sterling 5.4 3.5 4.9 5.3 6.4 6.3 4.4 5.4
Swiss franc 0.4 0.5 0.3 0.2 0.2 0.3 0.3 0.3
U.S.dollars 16.6 24.1 29.9 52.5 51.4 43.9 47.9 42.7
4. Average terms of new commitments
Official creditors
Interest (%) 4.3 2.2 2.0 0.6 2.4 1.0 2.8 0.9
Maturity (years) 17.2 31.8 15.0 16.1 39.5 19.7 19.5 19.5
Grace period (years) 7.2 9.0 7.0 4.7 10.4 5.2 4.8 5.2
Private creditors
Interest (%) 9.9 0.0 0.0 0.0 0.0 0.0 4.0 0.0
Maturity (years) 8.3 0.0 0.0 0.0 0.0 0.0 9.8 0.0
Grace period (years) 4.1 0.0 0.0 0.0 0.0 0.0 0.2 0.0
5. Major economic aggregates
Gross national income (GNI) 2,324 1,228 2,275 4,039 5,104 5,042 7,675 6,018
Exports of goods, services & income 1,503 1,383 2,642 4,983 6,352 6,151 .. ..
Worker remit. & comp. of employees .. 4 10 11 13 15 15 15
Imports of goods, services & income 1,757 2,050 2,013 4,318 6,202 8,294 .. ..
Profit remittances on FDI 0 326 466 1,296 1,403 1,651 .. ..
Current account balance -251 -625 648 696 124 -2,181 .. ..
International reserves 10 64 225 738 1,848 2,184 3,881 3,818
6. Ratios
External debt stocks to exports (%) 326.3 425.8 181.0 123.5 103.3 91.8 .. ..
External debt stocks to GNI (%) 211.0 479.3 210.2 152.4 128.6 112.0 77.3 83.8
Debt service to exports (%) 34.6 13.5 1.7 2.2 1.4 1.7 .. ..
Short-term to external debt stocks (%) 14.9 17.0 22.1 11.6 11.8 6.4 6.6 4.2
Multilateral to external debt stocks (%) 11.3 10.7 10.4 8.5 7.9 8.9 8.0 9.2
Reserves to external debt stocks (%) 0.2 1.1 4.7 12.0 28.2 38.7 65.4 75.7
Reserves to imports (months) 0.1 0.4 1.3 2.0 3.6 3.2 .. ..
114
CONGO, REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 780 108 0 86 124 616 312 53
Total amount forgiven 0 24 0 141 152 1,282 114 765
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 316 272 278 206 231 217 211 210
Interest 62 64 69 64 62 59 55 51
Private creditors
Principal 24 24 28 32 32 32 32 32
Interest 12 11 11 10 10 9 8 11
Notes:
Data include the effects of London Club debt restructuring agreement signed in 2007 and Paris Club debt restructuring agreement signed in 2008. Data for 2007,
2008, and 2009 include the effects of Enhanced HIPC Initiative, in the amount of $3,616 in thousands and $3,596 in thousands, and $3,576 in thousands
respectively.
115
COSTA RICA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 3,738 3,766 4,636 6,480 6,987 8,398 9,189 8,070
Long-term external debt 3,350 3,312 3,688 4,383 4,632 5,164 5,201 5,728
Public and publicly guaranteed 3,046 3,097 3,452 3,152 3,307 3,643 3,168 3,190
Private nonguaranteed 304 214 236 1,231 1,325 1,521 2,033 2,538
Use of IMF credit 11 24 0 0 0 0 0 0
Short-term external debt 377 430 948 2,097 2,355 3,234 3,989 2,341
interest arrears on long-term 77 32 12 2 2 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 171 98 29 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 3,043 3,095 3,451 3,152 3,307 3,643 3,168 3,190
/RQJWHUPSULYDWHVHFWRUGHEW 308 216 237 1,231 1,325 1,521 2,033 2,538
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 230 25 824 358 416 149 446 1,798
External debt flows
Disbursements 206 211 758 985 458 610 1,115 1,320
Long-term external debt 206 211 758 985 458 610 1,115 1,320
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 297 401 388 568 497 558 1,111 793
Long-term external debt 272 357 388 568 497 558 1,111 793
IMF repurchases 26 44 0 0 0 0 0 0
Net flows -111 -148 549 842 220 932 758 -1,120
Long-term external debt -65 -146 370 417 -39 52 3 527
Short-term external debt -20 42 179 425 258 880 755 -1,647
Interest payments 207 251 262 274 293 347 462 437
Long-term external debt 172 225 206 179 176 207 352 366
IMF charges 3 3 0 0 0 0 0 0
Short-term external debt 32 23 56 94 118 140 110 70
2. Other non-debt resource inflows
Foreign direct investment 163 337 409 861 1,469 1,896 2,078 1,347
Portfolio equity 0 0 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.5 1.4 1.6 1.6 1.5
Japanese yen 3.0 8.2 4.0 2.8 2.1 2.3 3.8 5.1
Pound sterling 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 58.4 49.1 69.9 77.4 80.4 83.1 88.1 88.1
4. Average terms of new commitments
Official creditors
Interest (%) 6.4 2.2 6.3 5.7 4.8 6.2 4.6 2.6
Maturity (years) 17.6 7.3 4.3 17.5 15.1 14.8 17.3 19.6
Grace period (years) 5.0 1.2 1.8 4.0 3.9 3.8 4.0 4.1
Private creditors
Interest (%) 9.5 6.9 8.3 8.2 6.9 6.0 0.0 5.1
Maturity (years) 3.2 6.0 17.3 12.1 10.3 1.4 0.0 7.2
Grace period (years) 1.1 1.5 17.3 0.5 10.3 0.3 0.0 5.6
5. Major economic aggregates
Gross national income (GNI) 7,151 11,497 14,697 19,174 21,788 25,468 28,941 28,752
Exports of goods, services & income 2,094 4,597 7,992 10,528 12,208 13,559 14,340 12,786
Worker remit. & comp. of employees 12 123 136 420 513 618 605 574
Imports of goods, services & income 2,709 5,089 8,793 11,779 13,580 15,675 17,511 13,681
Profit remittances on FDI 60 109 1,141 743 853 1,131 688 1,056
Current account balance -424 -358 -707 -981 -1,023 -1,646 -2,729 ..
International reserves 525 1,060 1,318 2,314 3,117 4,115 3,801 4,068
6. Ratios
External debt stocks to exports (%) 178.6 81.9 58.0 61.5 57.2 61.9 64.1 63.1
External debt stocks to GNI (%) 52.3 32.8 31.5 33.8 32.1 33.0 31.8 28.1
Debt service to exports (%) 24.1 14.2 8.1 8.0 6.5 6.7 11.0 9.6
Short-term to external debt stocks (%) 10.1 11.4 20.4 32.4 33.7 38.5 43.4 29.0
Multilateral to external debt stocks (%) 30.5 36.6 28.1 18.1 18.0 14.2 11.3 14.6
Reserves to external debt stocks (%) 14.0 28.1 28.4 35.7 44.6 49.0 41.4 50.4
Reserves to imports (months) 2.3 2.5 1.8 2.4 2.8 3.2 2.6 3.6
116
COSTA RICA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 641 0 0 0 0 0 0 0
Total amount forgiven 855 3 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 258 243 229 250 228 208 184 174
Interest 68 61 53 44 36 30 26 22
Private creditors
Principal 638 727 703 550 545 183 278 130
Interest 235 197 161 114 88 59 46 35
Notes:
Data on long-term private nonguaranteed debt are World Bank staff estimates. Short-term debt is based on reports provided by the country.
117
COTE D'IVOIRE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 17,251 18,899 12,138 11,912 12,764 13,865 12,568 11,701
Long-term external debt 13,223 14,562 10,546 10,866 11,605 12,237 11,036 11,250
Public and publicly guaranteed 10,665 11,902 9,063 9,965 10,823 11,646 10,622 10,979
Private nonguaranteed 2,558 2,660 1,482 900 782 591 414 271
Use of IMF credit 431 427 549 198 150 173 188 352
Short-term external debt 3,597 3,910 1,043 848 1,010 1,455 1,344 99
interest arrears on long-term 819 1,020 79 848 1,010 1,455 1,344 99
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1,727 2,686 169 1,499 2,033 2,497 2,218 183
/RQJWHUPSXEOLFVHFWRUGHEW 10,663 11,901 9,063 9,965 10,823 11,646 10,622 10,979
/RQJWHUPSULYDWHVHFWRUGHEW 2,560 2,661 1,482 900 782 591 414 271
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 764 716 72 40 58 162 73 148
External debt flows
Disbursements 1,172 924 148 55 116 140 118 359
Long-term external debt 1,019 743 148 55 116 77 54 58
IMF purchases 153 181 0 0 0 62 64 301
Principal repayments 621 625 481 255 217 345 829 841
Long-term external debt 498 539 442 164 160 298 784 697
IMF repurchases 123 86 39 91 57 47 44 143
Net flows 1,189 935 -617 -308 -101 -206 -711 -481
Long-term external debt 521 204 -294 -109 -44 -221 -731 -639
Short-term external debt 639 636 -283 -108 0 0 0 0
Interest payments 641 421 539 50 50 84 221 266
Long-term external debt 443 390 462 46 49 82 216 264
IMF charges 31 8 3 1 1 1 5 2
Short-term external debt 167 23 74 3 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment 48 211 235 312 319 427 446 381
Portfolio equity 0 1 1 14 2 2 2 -9
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 51.9 53.4 55.6 56.2 58.6
Japanese yen 0.9 1.4 1.4 1.3 1.2 1.1 1.6 2.0
Pound sterling 1.3 0.9 0.6 0.4 0.4 0.4 0.3 0.4
Swiss franc 2.3 0.5 0.2 0.2 0.2 0.2 0.2 0.0
U.S.dollars 15.5 22.0 53.7 37.7 35.9 34.1 33.0 34.0
4. Average terms of new commitments
Official creditors
Interest (%) 5.9 1.9 0.8 1.7 0.2 4.8 1.7 3.7
Maturity (years) 20.0 29.8 46.2 20.0 7.8 14.9 20.5 21.3
Grace period (years) 6.3 8.5 9.6 5.7 1.7 4.4 5.7 6.6
Private creditors
Interest (%) 0.0 14.5 0.0 0.0 0.0 0.5 0.0 1.1
Maturity (years) 0.0 19.6 0.0 0.0 0.0 11.7 0.0 20.3
Grace period (years) 0.0 0.1 0.0 0.0 0.0 3.7 0.0 2.3
5. Major economic aggregates
Gross national income (GNI) 9,209 10,013 9,715 15,643 16,589 18,913 22,442 22,078
Exports of goods, services & income 3,561 4,526 4,512 8,724 9,518 9,820 11,651 11,702
Worker remit. & comp. of employees 44 151 119 163 167 185 199 185
Imports of goods, services & income 4,594 4,782 4,423 8,222 8,508 9,616 10,867 9,917
Profit remittances on FDI 75 204 284 370 478 531 581 0
Current account balance -1,214 -492 -241 40 479 -139 452 1,670
International reserves 21 529 668 1,322 1,798 2,519 2,253 3,267
6. Ratios
External debt stocks to exports (%) 484.5 417.5 269.0 136.5 134.1 141.2 107.9 100.0
External debt stocks to GNI (%) 187.3 188.7 124.9 76.2 76.9 73.3 56.0 53.0
Debt service to exports (%) 35.4 23.1 22.6 3.5 2.8 4.4 9.0 9.5
Short-term to external debt stocks (%) 20.8 20.7 8.6 7.1 7.9 10.5 10.7 0.8
Multilateral to external debt stocks (%) 20.8 20.6 24.4 25.9 26.1 25.0 23.0 20.3
Reserves to external debt stocks (%) 0.1 2.8 5.5 11.1 14.1 18.2 17.9 27.9
Reserves to imports (months) 0.1 1.3 1.8 1.9 2.5 3.1 2.5 4.0
118
COTE D'IVOIRE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 930 381 72 0 0 0 0 3,079
Total amount forgiven 50 322 29 0 0 0 0 1,103
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,050 1,041 684 532 534 535 538 525
Interest 251 249 246 241 226 208 190 172
Private creditors
Principal 300 287 278 260 253 248 245 242
Interest 31 26 21 17 14 11 8 6
Notes:
Long-term private nonguaranteed debt data are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreements signed in 2009.
119
DJIBOUTI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 155.3 272.4 258.2 406.8 451.8 656.9 684.7 752.4
Long-term external debt 155.2 268.9 238.3 378.9 423.6 634.9 666.5 731.9
Public and publicly guaranteed 155.2 268.9 238.3 378.9 423.6 634.9 666.5 731.9
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 13.4 18.7 18.0 16.1 17.4 15.8
Short-term external debt 0.1 3.5 6.5 9.2 10.2 5.9 0.7 4.7
interest arrears on long-term 0.1 3.5 6.5 9.2 10.2 5.9 0.7 4.7
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1.2 13.1 22.7 22.2 26.8 40.4 2.2 7.7
/RQJWHUPSXEOLFVHFWRUGHEW 155.2 268.9 238.3 378.9 423.6 634.9 666.5 731.9
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 6.2 0.0 48.6 68.6 41.1 22.7 38.4 24.3
External debt flows
Disbursements 27.0 18.4 11.3 26.5 44.5 39.0 52.0 73.3
Long-term external debt 27.0 18.4 7.7 26.5 44.5 39.0 45.9 71.0
IMF purchases 0.0 0.0 3.6 0.0 0.0 0.0 6.1 2.3
Principal repayments 8.9 9.2 10.7 11.9 16.1 16.0 17.9 21.6
Long-term external debt 8.9 9.2 8.4 11.0 14.5 13.2 13.6 17.4
IMF repurchases 0.0 0.0 2.3 0.8 1.6 2.8 4.3 4.2
Net flows 18.0 9.2 0.7 14.7 28.4 23.0 34.1 51.6
Long-term external debt 18.0 9.2 -0.7 15.5 30.0 25.8 32.3 53.6
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest payments 2.1 2.0 2.6 3.8 5.0 6.6 7.3 7.7
Long-term external debt 2.1 2.0 2.2 3.7 4.9 6.5 7.2 7.6
IMF charges 0.0 0.0 0.4 0.1 0.1 0.1 0.1 0.1
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment .. 3.2 3.3 22.2 108.3 195.4 253.0 100.0
Portfolio equity .. 0.0 0.0 0.0 0.0 0.0 0.0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 13.1 13.4 31.9 30.2 29.5
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 13.9 12.4 16.2 34.2 34.0 26.6 26.1 24.9
4. Average terms of new commitments
Official creditors
Interest (%) 0.8 0.0 2.3 1.3 1.8 3.9 2.9 2.5
Maturity (years) 39.7 0.0 29.9 38.0 10.9 24.8 20.8 26.3
Grace period (years) 10.2 0.0 6.9 9.0 6.5 5.8 5.0 7.3
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 515.0 567.0 775.8 853.9 935.9 1072.5 1120.1
Exports of goods, services & income .. 220.7 218.4 319.8 341.5 341.7 409.6 ..
Worker remit. & comp. of employees .. 11.9 12.3 25.8 28.5 28.6 30.3 30.3
Imports of goods, services & income .. 263.5 287.1 372.3 436.8 592.3 714.8 ..
Profit remittances on FDI .. 4.6 4.2 5.9 5.9 4.2 5.0 ..
Current account balance .. 17.5 -19.0 20.1 -16.6 -171.4 -225.4 ..
International reserves 93.6 72.2 67.8 89.3 120.3 132.1 175.5 241.8
6. Ratios
External debt stocks to exports (%) .. 123.4 118.2 127.2 132.3 192.2 167.2 ..
External debt stocks to GNI (%) .. 52.9 45.5 52.4 52.9 70.2 63.8 67.2
Debt service to exports (%) .. 5.0 6.1 4.9 6.2 6.6 6.2 ..
Short-term to external debt stocks (%) 0.0 1.3 2.5 2.3 2.3 0.9 0.1 0.6
Multilateral to external debt stocks (%) 55.4 50.1 53.6 66.0 67.7 52.8 53.0 53.6
Reserves to external debt stocks (%) 60.3 26.5 26.3 21.9 26.6 20.1 25.6 32.1
Reserves to imports (months) .. 3.3 2.8 2.9 3.3 2.7 2.9 ..
120
DJIBOUTI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 2.1 0.0 0.0 0.0 58.2 8.7
Total amount forgiven 0.0 0.0 0.0 0.6 2.1 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 29.9 31.5 49.6 29.3 26.7 26.9 30.7 31.1
Interest 8.7 9.0 10.0 9.2 8.9 8.5 8.0 7.5
Private creditors
Principal 2.9 2.9 2.8 0.1 0.1 0.1 0.1 0.1
Interest 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0
Notes:
Data on long-term public and publicly guaranteed debt include the effects of Paris Club debt restructuring agreement signed in 2008.
121
DOMINICA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 88.0 103.3 164.8 273.7 253.5 289.6 297.2 251.6
Long-term external debt 80.2 94.9 145.8 221.6 217.5 214.4 199.2 192.5
Public and publicly guaranteed 80.2 94.9 145.8 221.6 217.5 214.4 199.2 192.5
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 5.7 1.7 0.0 11.6 14.0 12.1 15.0 19.6
Short-term external debt 2.0 6.7 19.0 40.6 22.0 63.0 83.1 39.5
interest arrears on long-term 0.0 0.2 0.0 8.6 11.0 14.0 17.1 19.5
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.2 1.8 0.3 6.5 6.0 11.2 10.3 10.8
/RQJWHUPSXEOLFVHFWRUGHEW 80.2 94.9 145.8 221.6 217.5 214.4 199.2 192.5
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 3.4 5.1 57.3 25.8 0.0 6.0 2.4 0.0
External debt flows
Disbursements 11.5 9.5 56.2 8.0 6.5 4.9 6.8 11.5
Long-term external debt 11.5 9.5 56.2 4.5 3.1 4.9 3.5 6.5
IMF purchases 0.0 0.0 0.0 3.5 3.4 0.0 3.2 5.1
Principal repayments 3.8 4.4 6.7 10.0 11.0 12.7 11.1 13.1
Long-term external debt 2.5 3.6 6.7 9.6 9.4 10.3 11.1 12.4
IMF repurchases 1.4 0.9 0.0 0.4 1.6 2.5 0.0 0.8
Net flows 7.8 4.6 49.7 -37.0 -25.5 30.1 12.6 -47.6
Long-term external debt 9.0 5.9 49.5 -5.2 -6.3 -5.4 -7.6 -5.9
Short-term external debt 0.1 -0.5 0.2 -35.0 -21.0 38.0 17.0 -46.0
Interest payments 2.0 2.4 4.1 6.2 6.8 6.6 6.2 4.7
Long-term external debt 1.6 2.0 3.0 4.6 5.5 4.9 4.3 4.0
IMF charges 0.2 0.0 0.0 0.2 0.2 0.1 0.2 0.1
Short-term external debt 0.2 0.4 1.1 1.5 1.1 1.6 1.7 0.6
2. Other non-debt resource inflows
Foreign direct investment 12.9 54.1 17.6 19.2 25.9 40.5 56.5 50.3
Portfolio equity -0.4 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.4 3.9 3.4 2.8 2.3
Japanese yen 0.3 1.1 0.4 0.0 0.0 0.0 0.0 0.0
Pound sterling 16.5 13.3 2.8 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 51.7 60.8 81.1 86.0 87.3 86.8 86.6 85.8
4. Average terms of new commitments
Official creditors
Interest (%) 3.0 2.6 5.2 2.4 0.0 0.8 0.8 0.0
Maturity (years) 25.2 26.4 21.3 21.9 0.0 34.5 34.4 0.0
Grace period (years) 8.5 8.8 6.9 7.6 0.0 10.0 9.9 0.0
Private creditors
Interest (%) 0.0 0.0 1.9 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 9.2 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 2.3 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 161.4 210.7 231.8 270.3 300.7 324.8 353.7 359.8
Exports of goods, services & income 93.5 110.7 149.2 135.3 150.6 156.4 160.5 148.3
Worker remit. & comp. of employees 13.9 13.4 16.3 25.0 25.4 25.9 26.1 23.1
Imports of goods, services & income 142.9 158.9 227.1 231.0 220.0 264.5 315.7 289.3
Profit remittances on FDI 5.4 12.2 33.0 22.7 7.4 13.0 12.5 10.2
Current account balance -43.5 -40.2 -59.8 -76.1 -49.9 -86.9 -136.1 -123.2
International reserves 14.5 22.1 29.4 49.2 63.0 60.5 55.2 75.5
6. Ratios
External debt stocks to exports (%) 94.1 93.3 110.5 202.3 168.3 185.2 185.1 169.6
External debt stocks to GNI (%) 54.5 49.0 71.1 101.3 84.3 89.2 84.0 69.9
Debt service to exports (%) 6.2 6.1 7.2 12.0 11.8 12.4 10.8 12.0
Short-term to external debt stocks (%) 2.3 6.5 11.5 14.8 8.7 21.8 27.9 15.7
Multilateral to external debt stocks (%) 65.7 62.2 50.6 46.0 47.9 41.9 39.2 46.2
Reserves to external debt stocks (%) 16.4 21.4 17.8 18.0 24.9 20.9 18.6 30.0
Reserves to imports (months) 1.2 1.7 1.6 2.6 3.4 2.7 2.1 3.1
122
DOMINICA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 14.6 11.5 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 16.1 10.4 7.1 7.0 6.7 6.8 6.5 6.1
Interest 3.1 2.7 2.4 2.3 2.1 1.9 1.8 1.7
Private creditors
Principal 4.1 0.0 0.0 0.0 30.6 0.0 0.0 0.0
Interest 2.9 2.8 2.8 2.8 2.8 0.0 0.0 0.0
123
DOMINICAN REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 4,372 4,447 4,541 7,075 8,556 10,144 10,121 11,003
Long-term external debt 3,518 3,672 3,311 5,774 6,637 7,120 7,691 8,557
Public and publicly guaranteed 3,419 3,653 3,311 5,772 6,223 6,275 6,848 7,714
Private nonguaranteed 99 19 0 2 414 845 843 843
Use of IMF credit 72 160 52 400 459 548 492 767
Short-term external debt 782 616 1,178 901 1,460 2,476 1,938 1,679
interest arrears on long-term 506 214 28 20 9 9 3 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 614 320 56 145 33 14 16 1
/RQJWHUPSXEOLFVHFWRUGHEW 3,391 3,626 3,299 5,765 6,217 6,270 6,843 7,710
/RQJWHUPSULYDWHVHFWRUGHEW 127 46 13 9 420 851 848 847
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 204 167 469 811 1,336 343 957 2,934
External debt flows
Disbursements 138 195 303 894 1,701 1,427 1,420 1,656
Long-term external debt 138 195 303 674 1,560 1,250 1,298 1,348
IMF purchases 0 0 0 220 142 177 122 308
Principal repayments 146 234 257 762 1,023 928 864 818
Long-term external debt 88 200 257 762 918 814 699 770
IMF repurchases 58 34 0 0 105 114 164 47
Net flows 15 105 311 97 1,248 1,516 24 582
Long-term external debt 50 -5 46 -87 641 437 599 577
Short-term external debt 23 143 265 -36 570 1,016 -532 -256
Interest payments 86 175 263 248 320 454 548 509
Long-term external debt 59 145 211 211 255 328 446 429
IMF charges 9 10 3 9 22 26 24 7
Short-term external debt 19 20 50 27 42 100 78 72
2. Other non-debt resource inflows
Foreign direct investment 133 414 953 1,123 1,085 1,667 2,870 2,067
Portfolio equity 0 .. .. 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.8 3.4 6.2 7.7 8.7
Japanese yen 6.4 7.7 5.0 2.8 2.1 1.8 2.0 1.9
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 68.4 63.7 73.8 86.9 88.0 86.0 85.4 85.4
4. Average terms of new commitments
Official creditors
Interest (%) 5.8 6.6 6.5 1.7 4.2 3.7 2.4 2.5
Maturity (years) 24.9 20.2 13.6 21.5 21.2 21.2 23.2 17.1
Grace period (years) 6.4 5.2 1.8 4.1 4.6 4.1 3.3 4.9
Private creditors
Interest (%) 9.8 8.4 6.5 3.2 6.4 6.5 6.0 4.8
Maturity (years) 9.1 9.5 10.3 4.0 13.8 9.2 7.1 10.7
Grace period (years) 4.6 2.0 2.7 1.2 8.5 2.2 2.6 3.0
5. Major economic aggregates
Gross national income (GNI) 6,759 15,589 22,955 32,102 34,100 39,236 43,726 44,715
Exports of goods, services & income 1,918 5,859 9,264 10,498 11,877 12,766 12,569 10,918
Worker remit. & comp. of employees 315 839 1,839 2,719 3,084 3,427 3,556 3,477
Imports of goods, services & income 2,568 7,034 12,193 13,668 16,309 18,263 20,438 16,382
Profit remittances on FDI 90 624 1,068 1,765 1,932 2,194 1,669 1,577
Current account balance -280 -183 -1,027 -473 -1,288 -2,096 -4,437 ..
International reserves 69 373 632 1,853 2,127 2,562 2,288 2,905
6. Ratios
External debt stocks to exports (%) 228.0 75.9 49.0 67.4 72.0 79.5 80.5 100.8
External debt stocks to GNI (%) 64.7 28.5 19.8 22.0 25.1 25.9 23.1 24.6
Debt service to exports (%) 12.1 7.0 5.6 9.6 11.3 10.8 11.2 12.1
Short-term to external debt stocks (%) 17.9 13.8 25.9 12.7 17.1 24.4 19.1 15.3
Multilateral to external debt stocks (%) 19.6 23.2 24.9 25.5 22.2 18.6 18.6 23.7
Reserves to external debt stocks (%) 1.6 8.4 13.9 26.2 24.9 25.3 22.6 26.4
Reserves to imports (months) 0.3 0.6 0.6 1.6 1.6 1.7 1.3 2.1
124
DOMINICAN REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 7 2 0 1,209 203 0 0 0
Total amount forgiven 7 0 1 0 0 0 0 0
Debt buyback 0 0 0 316 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 622 462 485 643 810 451 425 370
Interest 122 128 121 113 92 71 62 54
Private creditors
Principal 658 457 790 614 279 204 171 110
Interest 247 240 200 147 126 119 111 108
Notes:
Data include the effects of Paris Club debt restructuring agreement signed in 2005. Long-term private nonguaranteed debt data only cover Inter-American
Development Bank and Bonds.
125
ECUADOR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 12,107 13,877 13,254 17,316 17,296 17,787 17,349 12,930
Long-term external debt 10,029 12,391 12,310 15,519 15,284 15,893 15,685 11,511
Public and publicly guaranteed 9,865 11,951 10,875 10,850 10,304 10,710 10,043 6,910
Private nonguaranteed 164 440 1,435 4,668 4,980 5,183 5,642 4,600
Use of IMF credit 265 173 148 78 23 0 0 0
Short-term external debt 1,814 1,312 797 1,719 1,990 1,894 1,664 1,419
interest arrears on long-term 1,522 12 3 1 0 0 31 37
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1,096 10 6 5 0 0 1 1
/RQJWHUPSXEOLFVHFWRUGHEW 9,865 11,951 10,875 10,850 10,304 10,705 10,026 6,884
/RQJWHUPSULYDWHVHFWRUGHEW 164 440 1,435 4,668 4,980 5,188 5,659 4,626
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 642 1,162 404 1,328 1,303 1,238 17 162
External debt flows
Disbursements 638 1,028 1,125 3,154 2,638 3,039 1,776 1,363
Long-term external debt 606 1,028 976 3,154 2,638 3,039 1,776 1,363
IMF purchases 32 0 150 0 0 0 0 0
Principal repayments 610 750 1,065 3,242 2,935 2,362 1,704 5,465
Long-term external debt 495 721 1,065 3,047 2,877 2,339 1,704 5,465
IMF repurchases 115 29 0 195 58 23 0 0
Net flows 0 -173 -194 -234 -27 581 -189 -4,353
Long-term external debt 110 307 -89 106 -239 700 72 -4,103
Short-term external debt -28 -451 -254 -145 271 -95 -261 -251
Interest payments 474 656 813 957 1,271 1,325 1,009 903
Long-term external debt 416 565 708 842 1,175 1,227 926 848
IMF charges 30 10 4 7 3 1 0 0
Short-term external debt 28 81 102 107 93 97 84 55
2. Other non-debt resource inflows
Foreign direct investment 126 452 -23 493 271 194 1,001 316
Portfolio equity 0 13 0 2 0 0 1 2
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.4 3.5 3.4 3.0 4.1
Japanese yen 6.9 4.1 4.5 3.5 3.4 3.1 2.6 3.3
Pound sterling 1.6 0.7 0.8 0.7 0.8 0.7 0.5 0.8
Swiss franc 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 54.5 71.2 83.3 87.4 87.7 88.7 90.0 86.7
4. Average terms of new commitments
Official creditors
Interest (%) 5.2 6.2 6.9 6.6 6.7 5.4 3.3 3.3
Maturity (years) 22.2 16.4 17.2 8.1 16.7 20.9 18.7 23.0
Grace period (years) 6.0 6.0 5.2 2.9 4.5 4.2 2.2 5.6
Private creditors
Interest (%) 8.6 7.9 7.5 9.3 6.0 0.0 6.3 0.0
Maturity (years) 8.7 12.0 9.9 10.0 10.7 0.0 12.6 0.0
Grace period (years) 1.0 2.5 2.5 9.8 1.9 0.0 3.1 0.0
5. Major economic aggregates
Gross national income (GNI) 9,145 19,281 14,530 35,245 39,813 43,742 53,078 55,572
Exports of goods, services & income 3,287 5,295 5,976 11,566 14,378 16,329 20,647 15,607
Worker remit. & comp. of employees 51 386 1,322 2,460 2,934 3,094 2,828 2,502
Imports of goods, services & income 3,754 6,736 6,403 13,880 15,863 17,924 22,515 18,372
Profit remittances on FDI 125 144 329 1,004 977 1,160 787 822
Current account balance -360 -1,000 926 347 1,618 1,650 1,120 ..
International reserves 1,009 1,788 1,179 2,148 2,026 3,521 4,473 3,792
6. Ratios
External debt stocks to exports (%) 368.3 262.1 221.8 149.7 120.3 108.9 84.0 82.8
External debt stocks to GNI (%) 132.4 72.0 91.2 49.1 43.4 40.7 32.7 23.3
Debt service to exports (%) 33.0 26.6 31.4 36.3 29.3 22.6 13.1 40.8
Short-term to external debt stocks (%) 15.0 9.5 6.0 9.9 11.5 10.7 9.6 11.0
Multilateral to external debt stocks (%) 17.6 21.9 27.7 20.8 23.1 26.1 24.7 33.5
Reserves to external debt stocks (%) 8.3 12.9 8.9 12.4 11.7 19.8 25.8 29.3
Reserves to imports (months) 3.2 3.2 2.2 1.9 1.5 2.4 2.4 2.5
126
ECUADOR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 249 5,818 4,674 0 0 0 0 0
Total amount forgiven 46 1,180 2,522 2 1 4 3 5
Debt buyback 0 0 0 0 0 0 0 2,987
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 564 531 542 520 511 457 430 404
Interest 180 160 141 123 106 91 77 63
Private creditors
Principal 1,037 859 649 304 267 926 227 225
Interest 341 291 297 215 187 167 84 84
Notes:
Short-term debt is based on reports provided by Central Bank.
127
EGYPT, ARAB REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 32,992 33,475 29,016 30,266 30,657 34,120 33,417 33,257
Long-term external debt 28,414 31,000 24,912 28,610 28,937 31,884 30,574 30,696
Public and publicly guaranteed 27,414 30,687 24,339 28,517 28,856 31,864 30,494 30,622
Private nonguaranteed 1,000 313 573 93 81 21 80 74
Use of IMF credit 125 103 0 0 0 0 0 0
Short-term external debt 4,453 2,372 4,104 1,656 1,720 2,236 2,842 2,561
interest arrears on long-term 1,441 4 0 2 1 1 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 3,542 148 14 8 2 2 2 2
/RQJWHUPSXEOLFVHFWRUGHEW 27,393 30,684 24,337 28,231 28,417 31,258 29,960 30,182
/RQJWHUPSULYDWHVHFWRUGHEW 1,021 316 574 379 520 626 614 514
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 1,223 207 1,034 3,053 2,472 1,437 2,183 1,832
External debt flows
Disbursements 1,951 642 575 2,998 763 3,139 1,122 1,977
Long-term external debt 1,951 642 575 2,998 763 3,139 1,122 1,977
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 1,750 988 1,100 1,571 1,628 2,031 2,310 2,071
Long-term external debt 1,704 894 1,100 1,571 1,628 2,031 2,310 2,071
IMF repurchases 47 94 0 0 0 0 0 0
Net flows -1,301 92 -714 1,364 -801 1,623 -582 -376
Long-term external debt 248 -251 -525 1,428 -866 1,107 -1,189 -95
Short-term external debt -1,502 438 -189 -64 65 516 607 -281
Interest payments 1,322 1,393 733 699 840 907 935 870
Long-term external debt 1,007 1,252 619 617 744 795 822 768
IMF charges 14 9 0 0 0 0 0 0
Short-term external debt 301 132 113 83 96 112 113 102
2. Other non-debt resource inflows
Foreign direct investment 734 598 1,235 5,376 10,043 11,578 9,495 6,712
Portfolio equity 0 0 269 729 502 -3,199 -674 393
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 32.5 35.0 35.4 34.3 35.3
Japanese yen 8.2 13.1 13.8 12.6 12.2 10.7 13.3 12.7
Pound sterling 2.5 1.4 1.2 1.9 2.0 1.8 1.3 1.3
Swiss franc 3.0 2.7 2.1 1.8 1.9 1.7 1.8 1.7
U.S.dollars 41.9 34.5 39.8 38.0 35.8 36.0 35.1 34.1
4. Average terms of new commitments
Official creditors
Interest (%) 4.7 3.1 4.6 5.2 4.4 2.2 3.1 1.6
Maturity (years) 28.6 22.0 21.6 18.8 21.4 16.5 20.9 23.2
Grace period (years) 7.5 6.6 5.6 7.6 7.4 6.5 5.6 6.7
Private creditors
Interest (%) 8.4 6.5 5.8 4.4 2.2 6.4 1.0 0.0
Maturity (years) 11.5 4.3 4.3 7.6 5.3 6.6 3.3 0.0
Grace period (years) 3.4 2.4 3.1 7.1 3.1 4.8 2.5 0.0
5. Major economic aggregates
Gross national income (GNI) 42,025 60,038 100,838 89,474 108,015 131,650 164,178 188,496
Exports of goods, services & income 10,752 14,838 18,735 32,141 39,241 47,707 57,826 45,601
Worker remit. & comp. of employees 4,284 3,226 2,852 5,017 5,330 7,656 8,694 7,150
Imports of goods, services & income 15,969 19,123 23,878 35,787 42,375 55,618 68,999 56,910
Profit remittances on FDI 14 228 92 647 915 1,015 680 2,101
Current account balance 2,327 -254 -971 2,103 2,635 412 -1,415 -3,349
International reserves 3,620 17,122 13,785 21,857 26,007 32,214 34,331 34,897
6. Ratios
External debt stocks to exports (%) 306.9 225.6 154.9 94.2 78.1 71.5 57.8 72.9
External debt stocks to GNI (%) 78.5 55.8 28.8 33.8 28.4 25.9 20.4 17.6
Debt service to exports (%) 28.6 16.0 9.8 7.1 6.3 6.2 5.6 6.5
Short-term to external debt stocks (%) 13.5 7.1 14.1 5.5 5.6 6.6 8.5 7.7
Multilateral to external debt stocks (%) 10.3 12.0 13.5 17.0 18.3 22.1 22.4 25.3
Reserves to external debt stocks (%) 11.0 51.1 47.5 72.2 84.8 94.4 102.7 104.9
Reserves to imports (months) 2.7 10.7 6.9 7.3 7.4 7.0 6.0 7.4
128
EGYPT, ARAB REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 309 22 1 1 1 0 0
Total amount forgiven 13,057 54 25 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 2,850 2,960 3,629 3,279 2,954 2,772 2,648 1,445
Interest 641 584 529 466 401 340 289 247
Private creditors
Principal 102 103 761 58 55 1,303 50 39
Interest 121 121 120 63 62 61 3 2
Notes:
Short-term debt is based on the Central Bank data from 2001. Data on long-term private nonguaranteed debt are revised based on reports provided by the
country.
129
EL SALVADOR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,145 2,509 4,467 8,984 9,842 9,516 10,111 11,384
Long-term external debt 1,935 1,984 2,822 7,409 8,878 8,515 9,059 9,270
Public and publicly guaranteed 1,909 1,979 2,710 4,786 5,589 5,435 5,743 6,131
Private nonguaranteed 26 5 111 2,622 3,289 3,079 3,316 3,139
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 210 525 1,645 1,575 964 1,001 1,052 2,114
interest arrears on long-term 7 3 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 6 6 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 1,901 1,972 2,705 4,782 5,585 5,432 5,739 6,128
/RQJWHUPSULYDWHVHFWRUGHEW 34 11 117 2,626 3,293 3,083 3,319 3,142
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 131 832 347 693 1,146 251 1,068 810
External debt flows
Disbursements 108 206 371 1,222 1,643 251 1,042 1,217
Long-term external debt 108 206 371 1,222 1,643 251 1,042 1,217
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 124 160 157 405 671 550 488 685
Long-term external debt 118 160 157 405 671 550 488 685
IMF repurchases 5 0 0 0 0 0 0 0
Net flows 2 383 807 613 361 -262 605 1,594
Long-term external debt -11 46 214 817 972 -299 554 532
Short-term external debt 18 337 592 -205 -611 37 51 1,062
Interest payments 84 120 212 445 519 505 515 539
Long-term external debt 75 98 139 344 464 466 484 477
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 9 22 73 101 55 39 31 62
2. Other non-debt resource inflows
Foreign direct investment 2 38 173 511 241 1,508 784 431
Portfolio equity 0 0 0 0 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.5 3.3 3.8 3.4 3.2
Japanese yen 1.3 1.8 6.7 4.9 4.3 4.7 5.9 5.2
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 56.5 46.7 68.3 81.5 84.1 83.2 83.5 85.3
4. Average terms of new commitments
Official creditors
Interest (%) 3.2 6.5 7.2 5.1 6.0 5.6 5.5 2.3
Maturity (years) 35.6 22.3 18.6 18.6 18.0 21.9 10.7 24.6
Grace period (years) 8.8 5.2 4.0 2.2 4.0 3.3 3.3 4.9
Private creditors
Interest (%) 10.4 6.1 9.6 7.7 7.6 0.0 4.1 0.0
Maturity (years) 5.0 26.3 9.2 30.4 27.9 0.0 2.0 0.0
Grace period (years) 0.5 5.8 2.3 30.4 27.9 0.0 2.0 0.0
5. Major economic aggregates
Gross national income (GNI) 4,801 9,500 13,134 17,070 18,654 19,797 21,579 20,978
Exports of goods, services & income 1,003 2,094 3,803 4,749 5,419 5,820 6,343 4,856
Worker remit. & comp. of employees 366 1,064 1,765 3,030 3,485 3,712 3,804 3,480
Imports of goods, services & income 1,785 3,744 6,031 8,352 9,562 10,753 11,771 7,966
Profit remittances on FDI 31 0 60 181 91 172 73 ..
Current account balance -152 -262 -431 -569 -671 -1,183 -1,596 ..
International reserves 595 940 1,901 1,890 1,963 2,304 2,646 3,122
6. Ratios
External debt stocks to exports (%) 213.9 119.8 117.5 189.2 181.6 163.5 159.4 234.4
External debt stocks to GNI (%) 44.7 26.4 34.0 52.6 52.8 48.1 46.9 54.3
Debt service to exports (%) 20.7 13.4 9.7 17.9 22.0 18.1 15.8 25.2
Short-term to external debt stocks (%) 9.8 20.9 36.8 17.5 9.8 10.5 10.4 18.6
Multilateral to external debt stocks (%) 36.6 54.7 42.5 27.1 25.5 26.3 27.4 28.1
Reserves to external debt stocks (%) 27.8 37.5 42.6 21.0 19.9 24.2 26.2 27.4
Reserves to imports (months) 4.0 3.0 3.8 2.7 2.5 2.6 2.7 4.7
130
EL SALVADOR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 84 0 0 0 0 0 0 0
Total amount forgiven 0 0 17 0 0 0 3 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 388 319 299 262 267 266 253 245
Interest 143 130 118 106 95 85 75 65
Private creditors
Principal 872 936 431 347 262 220 178 178
Interest 282 247 209 193 181 171 163 162
Notes:
Data on long-term private nonguaranteed debt are World Bank staff estimates based on Balance of Payments reported by the country from 2005.
131
ERITREA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 37 300 725 785 860 961 1,019
Long-term external debt .. 37 298 723 781 856 957 1,013
Public and publicly guaranteed .. 37 298 723 781 856 957 1,013
Private nonguaranteed .. 0 0 0 0 0 0 0
Use of IMF credit .. 0 0 0 0 0 0 0
Short-term external debt .. 0 2 2 4 4 4 6
interest arrears on long-term .. 0 2 2 4 4 4 6
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 0 5 14 21 18 8 13
/RQJWHUPSXEOLFVHFWRUGHEW .. 37 298 723 781 856 957 1,013
/RQJWHUPSULYDWHVHFWRUGHEW .. 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 111 174 0 39 46 80 49
External debt flows
Disbursements .. 7 51 71 38 42 105 58
Long-term external debt .. 7 51 71 38 42 105 58
IMF purchases .. 0 0 0 0 0 0 0
Principal repayments .. 0 0 12 6 2 7 11
Long-term external debt .. 0 0 12 6 2 7 11
IMF repurchases .. 0 0 0 0 0 0 0
Net flows .. 7 50 59 32 40 98 46
Long-term external debt .. 7 50 59 32 40 98 46
Short-term external debt .. 0 0 0 0 0 0 0
Interest payments .. 0 2 8 6 4 9 10
Long-term external debt .. 0 2 8 6 4 9 10
IMF charges .. 0 0 0 0 0 0 0
Short-term external debt .. 0 0 0 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment .. .. 28 -1 0 0 0 0
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.3 5.4 5.5 4.7 4.4
Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 66.3 57.0 68.5 68.1 67.9 66.6 67.8
4. Average terms of new commitments
Official creditors
Interest (%) .. 2.0 0.7 0.0 2.0 2.0 5.5 1.7
Maturity (years) .. 23.9 39.7 0.0 22.9 17.6 5.5 18.2
Grace period (years) .. 5.6 10.4 0.0 6.3 3.1 3.0 5.0
Private creditors
Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 586 634 1,162 1,272 1,365 1,641 ..
Exports of goods, services & income .. 142 107 .. .. .. .. ..
Worker remit. & comp. of employees .. .. 3 .. .. .. .. ..
Imports of goods, services & income .. 498 510 .. .. 474 .. ..
Profit remittances on FDI .. .. 4 .. .. .. .. ..
Current account balance .. -31 -105 .. .. .. .. ..
International reserves .. 40 36 28 25 34 58 ..
6. Ratios
External debt stocks to exports (%) .. 25.8 280.7 .. .. .. .. ..
External debt stocks to GNI (%) .. 6.3 47.3 62.4 61.7 63.0 58.6 ..
Debt service to exports (%) .. 0.1 2.8 .. .. .. .. ..
Short-term to external debt stocks (%) .. .. 0.7 0.2 0.5 0.5 0.5 0.6
Multilateral to external debt stocks (%) .. 66.3 50.6 70.4 71.5 71.3 66.9 64.5
Reserves to external debt stocks (%) .. 110.4 12.0 3.9 3.2 4.0 6.0 ..
Reserves to imports (months) .. 1.0 0.8 .. .. 0.9 .. ..
132
ERITREA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 0 0 17 21 5
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 40 67 68 67 43 37 34 35
Interest 12 12 11 9 8 7 7 7
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
133
ETHIOPIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 8,645 10,322 5,495 6,208 2,277 2,620 2,879 5,025
Long-term external debt 8,493 9,788 5,339 5,928 2,201 2,571 2,829 4,812
Public and publicly guaranteed 8,493 9,788 5,339 5,928 2,201 2,571 2,829 4,812
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 6 73 77 160 0 0 0 168
Short-term external debt 145 460 79 120 76 49 50 45
interest arrears on long-term 43 437 65 36 36 32 32 32
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 236 3,628 652 508 374 373 373 373
/RQJWHUPSXEOLFVHFWRUGHEW 8,492 9,788 5,339 5,928 2,201 2,571 2,829 4,812
/RQJWHUPSULYDWHVHFWRUGHEW 1 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 580 170 500 748 1,904 992 1,065 1,445
External debt flows
Disbursements 374 232 185 527 370 380 379 2,308
Long-term external debt 374 232 185 527 370 380 379 2,143
IMF purchases 0 0 0 0 0 0 0 165
Principal repayments 177 92 85 40 89 88 72 62
Long-term external debt 152 92 72 36 89 88 72 62
IMF repurchases 25 0 13 4 0 0 0 0
Net flows 203 133 90 478 237 269 309 2,242
Long-term external debt 222 140 114 491 281 292 307 2,081
Short-term external debt 7 -8 -11 -9 -44 -23 1 -5
Interest payments 59 63 53 54 49 45 40 41
Long-term external debt 49 61 52 49 47 44 39 40
IMF charges 2 0 0 1 0 0 0 0
Short-term external debt 8 1 1 3 3 1 1 1
2. Other non-debt resource inflows
Foreign direct investment .. 14 135 265 545 222 109 94
Portfolio equity 0 .. .. 0 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.6 14.9 17.5 16.9 8.5
Japanese yen 0.5 0.4 0.3 0.2 0.1 0.1 0.1 0.0
Pound sterling 0.3 0.2 0.3 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0
U.S.dollars 24.2 29.0 75.8 72.4 63.6 58.2 55.1 68.7
4. Average terms of new commitments
Official creditors
Interest (%) 1.9 1.0 0.8 0.9 1.1 0.9 2.9 1.3
Maturity (years) 32.7 36.3 38.4 32.3 34.9 39.5 27.4 31.4
Grace period (years) 7.9 9.3 10.0 6.3 8.9 9.6 6.9 8.7
Private creditors
Interest (%) 9.8 0.0 0.0 0.0 6.4 5.2 5.1 3.9
Maturity (years) 14.1 0.0 0.0 0.0 16.8 7.5 6.3 11.4
Grace period (years) 0.4 0.0 0.0 0.0 3.3 2.9 2.6 2.6
5. Major economic aggregates
Gross national income (GNI) 12,016 7,545 8,119 12,269 15,124 19,196 25,931 28,500
Exports of goods, services & income 606 836 1,008 1,973 2,254 2,729 3,552 3,370
Worker remit. & comp. of employees 5 27 53 174 172 358 387 301
Imports of goods, services & income 1,349 1,533 1,673 4,943 5,314 6,945 9,653 9,271
Profit remittances on FDI 0 0 9 21 24 18 17 ..
Current account balance -294 39 13 -1,568 -1,786 -828 -1,806 ..
International reserves 55 815 363 1,043 867 1,290 871 1,781
6. Ratios
External debt stocks to exports (%) 1,427.1 1,234.8 544.9 314.7 101.0 96.0 81.1 149.1
External debt stocks to GNI (%) 71.9 136.8 67.7 50.6 15.1 13.6 11.1 17.6
Debt service to exports (%) 39.0 18.5 13.7 4.7 6.2 4.9 3.1 3.1
Short-term to external debt stocks (%) 1.7 4.5 1.4 1.9 3.3 1.9 1.7 0.9
Multilateral to external debt stocks (%) 14.8 22.8 50.1 75.8 47.5 52.5 55.7 46.0
Reserves to external debt stocks (%) 0.6 7.9 6.6 16.8 38.1 49.2 30.2 35.4
Reserves to imports (months) 0.5 6.4 2.6 2.5 2.0 2.2 1.1 2.3
134
ETHIOPIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 30 0 168 0 0 0 0
Total amount forgiven 66 8 0 452 4,357 13 31 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 84 106 115 137 168 177 184 223
Interest 51 56 59 61 61 60 58 55
Private creditors
Principal 345 169 162 158 152 145 127 124
Interest 25 28 27 23 22 19 16 14
Notes:
Ethiopia was granted debt relief effective in 2006 under MDRI.
135
FIJI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 308.4 178.2 172.6 185.7 354.2 347.3 379.9 431.7
Long-term external debt 296.4 163.2 172.4 185.4 342.2 347.0 360.5 361.6
Public and publicly guaranteed 296.4 163.2 172.4 185.4 342.2 347.0 360.1 361.0
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.5
Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 12.0 15.0 0.2 0.4 12.0 0.3 19.4 70.1
interest arrears on long-term 0.0 0.1 0.2 0.4 1.0 0.3 0.4 0.1
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.0 0.0 0.0 0.0 2.0 1.5 2.2 0.0
/RQJWHUPSXEOLFVHFWRUGHEW 296.4 163.2 99.5 112.5 269.3 274.1 287.2 288.1
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 72.9 72.9 72.9 72.9 73.3 73.4
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 30.0 10.5 0.0 25.0 170.7 0.0 0.0 17.6
External debt flows
Disbursements 15.1 15.2 7.1 14.1 162.8 12.6 13.4 15.2
Long-term external debt 15.1 15.2 7.1 14.1 162.8 12.6 13.4 15.2
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments 55.5 31.2 16.9 8.5 7.6 10.4 7.8 9.8
Long-term external debt 54.6 31.2 16.9 8.5 7.6 10.4 7.8 9.8
IMF repurchases 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows -42.3 -17.1 -9.8 -47.5 166.2 -8.8 24.6 56.5
Long-term external debt -39.5 -16.0 -9.8 5.5 155.2 2.2 5.6 5.5
Short-term external debt -2.0 -1.1 0.0 -53.0 11.0 -11.0 19.0 51.0
Interest payments 25.2 11.2 7.7 5.5 6.2 16.1 16.0 15.8
Long-term external debt 23.7 10.3 7.7 5.5 5.7 16.1 15.8 14.4
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 1.5 0.9 0.0 0.0 0.6 0.0 0.3 1.4
2. Other non-debt resource inflows
Foreign direct investment 91.9 69.5 0.6 155.7 412.4 337.8 309.3 237.8
Portfolio equity 0.0 0.0 0.0 1.7 -3.0 4.2 1.4 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.3 1.3 1.3 1.1 0.6
Japanese yen 0.0 0.0 0.8 9.7 4.9 4.8 5.4 4.9
Pound sterling 13.7 3.3 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 5.4 0.8 49.0 64.2 81.2 83.4 82.7 83.3
4. Average terms of new commitments
Official creditors
Interest (%) 6.6 4.5 0.0 4.3 2.0 0.0 0.0 0.8
Maturity (years) 24.8 12.0 0.0 24.7 20.4 0.0 0.0 31.6
Grace period (years) 5.1 4.5 0.0 5.2 0.4 0.0 0.0 8.1
Private creditors
Interest (%) 8.8 0.0 0.0 0.0 6.9 0.0 0.0 0.0
Maturity (years) 10.4 0.0 0.0 0.0 5.0 0.0 0.0 0.0
Grace period (years) 6.3 0.0 0.0 0.0 5.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1289.6 1931.1 1717.4 3049.9 2982.5 3304.8 3544.0 3038.4
Exports of goods, services & income 881.6 1139.1 1023.2 1620.7 1553.2 1657.8 1935.0 ..
Worker remit. & comp. of employees 21.9 32.9 44.0 185.1 184.7 160.5 123.4 119.3
Imports of goods, services & income 974.3 1254.7 1136.4 2088.2 2343.0 2316.3 2749.1 ..
Profit remittances on FDI 49.4 83.7 7.5 114.7 162.4 116.9 56.9 ..
Current account balance -94.0 -112.7 -25.5 -292.7 -590.7 -475.4 -630.0 ..
International reserves 261.1 349.3 412.0 318.8 .. .. .. ..
6. Ratios
External debt stocks to exports (%) 35.0 15.6 16.9 11.5 22.8 20.9 19.6 ..
External debt stocks to GNI (%) 23.9 9.2 10.1 6.1 11.9 10.5 10.7 14.2
Debt service to exports (%) 9.1 3.7 2.4 0.9 0.9 1.6 1.2 ..
Short-term to external debt stocks (%) 3.9 8.4 0.1 0.2 3.4 0.1 5.1 16.2
Multilateral to external debt stocks (%) 65.5 84.0 51.4 49.5 27.3 29.3 28.6 24.0
Reserves to external debt stocks (%) 84.7 196.0 238.7 171.7 .. .. .. ..
Reserves to imports (months) 3.2 3.3 4.4 1.8 .. .. .. ..
136
FIJI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 2.2 0.0 4.1
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 48.7 48.9 12.6 10.9 11.0 11.2 11.3 10.8
Interest 5.1 4.0 3.0 2.7 2.5 2.3 2.0 1.8
Private creditors
Principal 0.1 150.1 0.1 0.1 0.1 0.1 0.0 0.0
Interest 10.3 10.3 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Long-term private nonguaranteed debt data are reported by the Reserve Bank for the first time.
137
GABON
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 3,983 4,361 3,902 3,877 4,187 2,845 2,173 2,130
Long-term external debt 3,150 3,977 3,457 3,562 3,697 2,599 2,055 2,022
Public and publicly guaranteed 3,150 3,977 3,457 3,562 3,697 2,599 2,055 2,022
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 140 97 89 68 57 25 0 0
Short-term external debt 693 287 355 247 434 221 118 108
interest arrears on long-term 130 0 63 187 344 6 10 5
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 82 26 118 341 773 38 28 9
/RQJWHUPSXEOLFVHFWRUGHEW 3,148 3,977 3,457 3,562 3,697 2,599 2,055 2,022
/RQJWHUPSULYDWHVHFWRUGHEW 2 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 65 89 20 142 40 1,946 641 420
External debt flows
Disbursements 204 279 51 18 87 1,089 108 265
Long-term external debt 195 222 34 18 87 1,089 108 265
IMF purchases 9 57 17 0 0 0 0 0
Principal repayments 40 216 198 136 128 2,280 642 320
Long-term external debt 26 165 188 111 114 2,246 617 320
IMF repurchases 15 52 10 25 14 34 25 0
Net flows 164 14 -363 -58 -11 -1,066 -641 -60
Long-term external debt 170 57 -154 -93 -27 -1,157 -509 -55
Short-term external debt 0 -49 -216 60 30 125 -107 -5
Interest payments 136 240 154 57 42 386 228 148
Long-term external debt 78 217 124 52 36 377 224 144
IMF charges 13 5 4 3 3 3 1 0
Short-term external debt 45 17 26 2 3 6 4 4
2. Other non-debt resource inflows
Foreign direct investment 73 -315 -43 242 268 269 209 33
Portfolio equity 0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 47.5 48.9 35.1 26.4 24.5
Japanese yen 0.7 0.9 0.8 0.5 0.5 0.4 0.5 0.2
Pound sterling 5.3 5.0 4.6 4.4 4.9 4.6 0.9 0.7
Swiss franc 0.3 0.8 0.5 0.2 0.2 0.2 0.0 0.0
U.S.dollars 10.3 11.5 29.1 36.2 34.6 44.7 54.4 55.1
4. Average terms of new commitments
Official creditors
Interest (%) 7.7 4.7 0.0 1.4 4.2 4.9 2.5 0.0
Maturity (years) 19.0 13.0 9.7 16.2 14.4 19.4 18.1 19.9
Grace period (years) 5.4 5.9 0.7 4.3 2.9 5.3 6.1 10.0
Private creditors
Interest (%) 9.0 0.0 0.0 2.6 0.0 7.3 4.9 3.1
Maturity (years) 11.8 0.0 0.0 5.8 0.0 8.1 7.8 6.2
Grace period (years) 1.3 0.0 0.0 2.7 0.0 7.1 2.3 1.6
5. Major economic aggregates
Gross national income (GNI) 5,336 4,293 4,289 7,708 7,902 10,044 12,364 9,549
Exports of goods, services & income 2,750 2,980 3,547 5,647 6,252 7,246 9,723 5,752
Worker remit. & comp. of employees 1 4 6 11 11 11 11 11
Imports of goods, services & income 2,448 2,423 2,483 3,395 4,223 5,375 6,871 5,183
Profit remittances on FDI 116 236 473 765 .. .. .. ..
Current account balance 168 515 1,001 1,983 .. .. .. ..
International reserves 279 153 194 675 1,122 1,238 1,935 2,007
6. Ratios
External debt stocks to exports (%) 144.8 146.3 110.0 68.7 67.0 39.3 22.4 37.0
External debt stocks to GNI (%) 74.6 101.6 91.0 50.3 53.0 28.3 17.6 22.3
Debt service to exports (%) 6.4 15.3 9.9 3.4 2.7 36.8 8.9 8.1
Short-term to external debt stocks (%) 17.4 6.6 9.1 6.4 10.4 7.8 5.4 5.1
Multilateral to external debt stocks (%) 8.0 13.5 12.0 10.1 9.7 14.3 17.5 18.8
Reserves to external debt stocks (%) 7.0 3.5 5.0 17.4 26.8 43.5 89.0 94.2
Reserves to imports (months) 1.4 0.8 0.9 2.4 3.2 2.8 3.4 4.6
138
GABON
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 271 472 637 407 0 0 0 0
Total amount forgiven 0 41 0 0 0 89 9 0
Debt buyback 0 0 0 0 0 2,100 428 44
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 232 183 127 98 96 110 107 107
Interest 33 29 23 21 19 18 16 15
Private creditors
Principal 498 66 97 82 64 64 52 932
Interest 91 90 89 87 84 80 78 75
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates based on reports provided by the country and include the effects
of Paris Club debt buyback agreement signed in 2007.
139
GAMBIA, THE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 369.1 426.1 483.3 669.5 728.1 726.6 448.6 520.1
Long-term external debt 308.4 385.5 437.9 626.2 692.4 698.6 421.0 449.2
Public and publicly guaranteed 308.4 385.5 437.9 626.2 692.4 698.6 421.0 449.2
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 44.9 25.8 18.1 20.8 17.8 6.3 12.3 28.6
Short-term external debt 15.7 14.8 27.3 22.4 17.9 21.6 15.3 42.3
interest arrears on long-term 0.6 0.7 0.0 1.4 0.9 0.6 1.3 1.3
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.9 2.2 2.0 20.9 23.6 21.0 16.6 19.1
/RQJWHUPSXEOLFVHFWRUGHEW 306.6 385.3 437.9 626.2 692.4 698.6 421.0 449.2
/RQJWHUPSULYDWHVHFWRUGHEW 1.8 0.2 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 37.9 40.3 24.5 51.0 25.3 23.0 25.1 7.7
External debt flows
Disbursements 32.8 23.0 29.7 62.6 59.9 58.6 59.8 58.8
Long-term external debt 23.5 23.0 20.7 62.6 59.9 52.5 53.5 43.1
IMF purchases 9.3 0.0 9.1 0.0 0.0 6.1 6.3 15.8
Principal repayments 25.5 21.7 14.3 17.9 21.6 24.4 12.6 17.8
Long-term external debt 20.2 15.5 12.7 15.8 17.5 20.8 12.6 17.8
IMF repurchases 5.3 6.2 1.6 2.0 4.0 3.7 0.0 0.0
Net flows 15.5 -7.6 20.6 41.7 34.3 38.2 40.3 68.0
Long-term external debt 3.4 7.5 8.0 46.7 42.4 31.7 40.9 25.3
Short-term external debt 8.1 -8.8 5.2 -3.0 -4.0 4.0 -7.0 27.0
Interest payments 12.3 6.3 7.3 10.5 9.9 11.8 9.0 7.8
Long-term external debt 10.2 5.2 6.0 9.5 9.0 10.6 8.0 7.4
IMF charges 1.3 0.2 0.1 0.1 0.1 0.1 0.1 0.1
Short-term external debt 0.8 0.9 1.2 0.9 0.9 1.0 0.9 0.4
2. Other non-debt resource inflows
Foreign direct investment 14.1 7.8 .. 51.9 82.1 72.6 72.1 47.0
Portfolio equity 0.0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.7 3.5 4.0 6.5 7.3
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 8.5 6.3 4.8 2.7 2.3 2.2 0.0 0.0
Swiss franc 1.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 39.1 43.5 51.3 55.0 53.6 47.2 48.6 45.9
4. Average terms of new commitments
Official creditors
Interest (%) 0.8 3.5 1.7 4.1 0.2 0.0 2.0 0.8
Maturity (years) 42.0 21.3 27.4 29.9 29.5 28.9 22.8 26.8
Grace period (years) 10.0 6.2 6.8 7.3 8.7 9.9 4.5 7.3
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 4.7 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 12.4 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 2.4 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 291.4 377.1 400.4 417.8 459.7 596.7 776.0 690.3
Exports of goods, services & income 169.7 181.0 .. 183.7 205.1 256.8 283.7 ..
Worker remit. & comp. of employees 10.0 19.0 14.0 57.4 63.7 62.5 66.8 64.8
Imports of goods, services & income 205.4 241.4 .. 295.3 358.1 396.7 411.0 ..
Profit remittances on FDI 0.0 0.0 .. 26.0 32.8 33.9 35.7 ..
Current account balance 23.4 -8.2 .. -42.0 -65.5 -29.2 -43.4 ..
International reserves 55.4 106.1 109.4 98.3 120.6 142.8 116.5 ..
6. Ratios
External debt stocks to exports (%) 217.5 235.4 .. 364.5 354.9 282.9 158.1 ..
External debt stocks to GNI (%) 126.7 113.0 120.7 160.2 158.4 121.8 57.8 75.3
Debt service to exports (%) 22.2 15.5 .. 15.5 15.4 14.1 7.6 ..
Short-term to external debt stocks (%) 4.3 3.5 5.7 3.4 2.5 3.0 3.4 8.1
Multilateral to external debt stocks (%) 55.0 76.6 71.1 76.1 78.3 78.8 64.1 60.3
Reserves to external debt stocks (%) 15.0 24.9 22.6 14.7 16.6 19.7 26.0 ..
Reserves to imports (months) 3.2 5.3 .. 4.0 4.0 4.3 3.4 ..
140
GAMBIA, THE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 3.4 0.0
Total amount forgiven 0.0 0.0 0.0 0.7 0.2 14.4 224.4 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 24.1 26.7 25.6 25.2 26.2 26.0 23.8 23.8
Interest 7.2 7.0 6.7 6.4 5.9 5.4 5.0 4.6
Private creditors
Principal 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5
Interest 0.2 0.3 0.3 0.3 0.2 0.2 0.1 0.1
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Data for 2008 include the effects of MDRI and HIPC debt relief,
in the amount of $214,362 in thousands.
141
GEORGIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 1,240 1,638 1,909 1,970 2,271 3,380 4,231
Long-term external debt .. 1,039 1,316 1,626 1,625 1,784 2,562 3,114
Public and publicly guaranteed .. 1,039 1,274 1,494 1,466 1,544 2,222 2,596
Private nonguaranteed .. 0 42 132 159 241 341 518
Use of IMF credit .. 116 278 232 236 252 460 786
Short-term external debt .. 85 44 50 108 235 357 330
interest arrears on long-term .. 61 1 11 7 7 7 7
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 211 179 151 69 32 28 28
/RQJWHUPSXEOLFVHFWRUGHEW .. 1,039 1,264 1,493 1,466 1,544 2,222 2,596
/RQJWHUPSULYDWHVHFWRUGHEW .. 0 52 133 159 241 341 518
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 91 72 84 104 55 812 781
External debt flows
Disbursements .. 174 65 187 216 235 1,149 968
Long-term external debt .. 98 65 146 175 193 893 628
IMF purchases .. 76 0 41 41 43 256 341
Principal repayments .. 0 68 157 234 143 120 163
Long-term external debt .. 0 42 103 185 103 85 136
IMF repurchases .. 0 26 54 49 40 35 28
Net flows .. -272 33 -30 44 220 1,151 778
Long-term external debt .. 98 23 43 -10 89 808 492
Short-term external debt .. -446 36 -60 62 127 122 -27
Interest payments .. 20 49 30 34 38 70 100
Long-term external debt .. 17 43 27 31 31 58 83
IMF charges .. 3 5 1 1 1 2 7
Short-term external debt .. 0 1 2 2 6 11 10
2. Other non-debt resource inflows
Foreign direct investment .. .. 131 453 1,170 1,750 1,564 764
Portfolio equity .. .. 0 3 143 34 118 8
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 20.2 15.5 17.4 12.0 10.7
Japanese yen .. 0.0 0.2 2.7 3.0 3.1 2.6 2.1
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.4 0.2 0.2 0.0 0.0 0.0 0.0
U.S.dollars .. 75.3 82.3 72.7 76.2 72.1 75.5 73.2
4. Average terms of new commitments
Official creditors
Interest (%) .. 1.5 1.1 0.8 1.4 0.8 1.3 1.1
Maturity (years) .. 32.3 32.0 40.3 34.8 26.9 25.4 30.9
Grace period (years) .. 9.6 8.9 10.7 8.8 10.2 8.7 7.8
Private creditors
Interest (%) .. 0.0 0.0 0.0 0.0 0.0 7.5 0.0
Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 5.0 0.0
Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 5.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 2,574 3,175 6,474 7,910 10,210 12,631 10,571
Exports of goods, services & income .. .. 844 2,451 2,893 3,664 4,177 3,622
Worker remit. & comp. of employees .. .. 274 346 485 695 732 714
Imports of goods, services & income .. .. 1,248 3,519 4,592 6,362 8,154 5,837
Profit remittances on FDI .. .. 0 116 94 298 361 295
Current account balance .. .. -269 -709 -1,175 -2,010 -2,917 -1,257
International reserves .. 199 116 479 931 1,361 1,480 2,110
6. Ratios
External debt stocks to exports (%) .. .. 194.1 77.9 68.1 62.0 80.9 116.8
External debt stocks to GNI (%) .. 48.2 51.6 29.5 24.9 22.2 26.8 40.0
Debt service to exports (%) .. .. 13.9 7.6 9.3 4.9 4.6 7.3
Short-term to external debt stocks (%) .. 6.9 2.7 2.6 5.5 10.4 10.6 7.8
Multilateral to external debt stocks (%) .. 19.7 29.2 42.9 45.9 44.7 35.2 36.3
Reserves to external debt stocks (%) .. 16.0 7.1 25.1 47.3 59.9 43.8 49.9
Reserves to imports (months) .. .. 1.1 1.6 2.4 2.6 2.2 4.3
142
GEORGIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 57 44 0 0 0
Total amount forgiven .. 0 0 0 109 2 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 53 58 58 70 50 64 68 81
Interest 24 25 26 26 25 25 24 24
Private creditors
Principal 42 139 102 576 68 51 31 9
Interest 57 54 49 27 6 3 2 0
Notes:
Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development.
143
GHANA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 3,734 5,495 6,116 6,732 3,184 4,463 4,927 5,720
Long-term external debt 2,670 4,227 5,251 5,728 1,882 3,032 3,418 4,126
Public and publicly guaranteed 2,637 4,200 4,994 5,728 1,882 3,032 3,418 4,126
Private nonguaranteed 33 27 257 0 0 0 0 0
Use of IMF credit 745 648 293 417 159 167 162 271
Short-term external debt 320 620 572 587 1,143 1,264 1,347 1,323
interest arrears on long-term 56 26 10 9 19 9 9 41
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 77 86 25 19 42 28 26 29
/RQJWHUPSXEOLFVHFWRUGHEW 2,637 4,200 4,994 5,728 1,882 3,032 3,418 4,126
/RQJWHUPSULYDWHVHFWRUGHEW 33 27 257 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 632 620 453 352 477 1,127 2,559 1,060
External debt flows
Disbursements 473 570 397 519 505 1,155 525 871
Long-term external debt 408 528 362 480 389 1,155 525 767
IMF purchases 65 42 35 39 116 0 0 104
Principal repayments 260 292 254 186 150 96 87 104
Long-term external debt 143 184 217 155 150 96 87 104
IMF repurchases 116 108 37 32 0 0 0 0
Net flows 312 349 7 224 901 1,189 522 711
Long-term external debt 265 344 144 326 238 1,058 439 663
Short-term external debt 98 71 -136 -109 546 131 83 -56
Interest payments 104 95 134 95 83 79 143 129
Long-term external debt 55 57 95 72 54 46 110 97
IMF charges 37 10 1 2 0 1 1 1
Short-term external debt 12 28 38 21 29 32 32 31
2. Other non-debt resource inflows
Foreign direct investment 15 107 166 145 636 970 2,112 1,685
Portfolio equity 0 0 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.2 11.5 11.2 12.2 14.8
Japanese yen 5.4 14.0 16.2 0.0 0.0 0.0 0.0 0.0
Pound sterling 3.0 5.2 2.1 0.0 0.1 0.0 0.0 0.0
Swiss franc 0.7 0.3 0.1 0.0 0.1 0.1 0.1 0.1
U.S.dollars 60.5 59.9 67.6 79.4 53.8 60.4 58.0 54.6
4. Average terms of new commitments
Official creditors
Interest (%) 2.1 1.5 1.4 0.8 0.7 0.8 2.1 1.0
Maturity (years) 35.4 34.8 34.7 43.0 41.8 38.6 27.1 32.3
Grace period (years) 9.4 9.4 8.9 10.3 10.3 10.0 7.2 8.8
Private creditors
Interest (%) 8.1 6.4 6.2 0.8 2.8 8.5 2.7 2.7
Maturity (years) 8.2 6.6 10.2 40.2 11.8 10.1 13.6 14.0
Grace period (years) 2.1 1.3 2.7 10.7 2.2 10.0 2.9 2.4
5. Major economic aggregates
Gross national income (GNI) 5,774 6,324 4,831 10,590 12,595 14,804 16,395 15,320
Exports of goods, services & income 949 1,596 2,456 3,952 5,183 6,088 7,156 7,911
Worker remit. & comp. of employees 6 17 32 99 105 117 126 114
Imports of goods, services & income 1,583 2,262 3,474 6,851 8,474 10,283 12,911 11,187
Profit remittances on FDI 7 17 17 94 92 135 172 241
Current account balance -223 -144 -387 -1,105 -1,043 -2,151 -3,543 -1,198
International reserves 309 804 309 1,897 2,269 .. .. ..
6. Ratios
External debt stocks to exports (%) 393.6 344.4 249.0 170.3 61.4 73.3 68.9 72.3
External debt stocks to GNI (%) 64.7 86.9 126.6 63.6 25.3 30.2 30.1 37.3
Debt service to exports (%) 38.4 24.2 15.8 7.1 4.5 2.9 3.2 2.9
Short-term to external debt stocks (%) 8.6 11.3 9.4 8.7 35.9 28.3 27.3 23.1
Multilateral to external debt stocks (%) 49.4 54.3 59.9 74.9 38.9 34.8 37.9 39.0
Reserves to external debt stocks (%) 8.3 14.6 5.1 28.2 71.3 .. .. ..
Reserves to imports (months) 2.3 4.3 1.1 3.3 3.2 .. .. ..
144
GHANA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 7 0 0 0
Total amount forgiven 102 0 0 94 4,649 0 15 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 86 114 118 110 105 118 135 144
Interest 38 45 48 48 47 46 43 41
Private creditors
Principal 97 126 188 169 159 145 141 885
Interest 95 99 98 95 91 88 85 82
Notes:
Long-term private nonguaranteed debt data only cover Bonds. Ghana was granted debt relief effective in 2006 under MDRI.
145
GRENADA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 110.8 127.0 201.4 406.2 492.1 524.8 523.5 531.5
Long-term external debt 97.9 112.4 179.8 391.4 447.6 468.0 450.6 462.3
Public and publicly guaranteed 97.9 112.4 179.8 391.4 447.6 468.0 450.6 462.3
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 8.4 9.5 7.7 13.0 23.0
Short-term external debt 12.9 14.6 21.6 6.5 35.0 49.1 59.9 46.1
interest arrears on long-term 6.9 6.6 4.5 4.5 6.0 12.1 10.9 21.1
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 17.0 20.8 10.6 9.5 10.5 13.4 17.7 22.1
/RQJWHUPSXEOLFVHFWRUGHEW 97.9 112.4 179.8 391.4 447.6 468.0 450.6 462.3
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 15.9 17.0 97.4 17.5 28.1 25.3 4.3 24.0
External debt flows
Disbursements 14.8 4.9 77.6 38.5 27.8 23.6 24.1 31.2
Long-term external debt 14.8 4.9 77.6 38.5 25.5 23.6 15.5 19.3
IMF purchases 0.0 0.0 0.0 0.0 2.3 0.0 8.5 12.0
Principal repayments 1.7 5.6 10.1 5.5 7.4 8.4 13.3 9.9
Long-term external debt 1.3 5.6 10.1 5.5 5.8 6.2 10.4 7.7
IMF repurchases 0.5 0.0 0.0 0.0 1.6 2.2 2.9 2.3
Net flows 13.1 -1.7 63.4 -28.0 47.3 23.2 22.8 -2.7
Long-term external debt 13.5 -0.8 67.5 33.0 19.7 17.5 5.2 11.6
Short-term external debt 0.0 -1.0 -4.1 -61.0 27.0 8.0 12.0 -24.0
Interest payments 1.6 2.3 4.4 4.9 8.0 9.5 9.0 10.5
Long-term external debt 1.2 1.7 3.4 3.3 6.8 7.9 7.6 9.9
IMF charges 0.0 0.0 0.0 0.3 0.4 0.4 0.2 0.1
Short-term external debt 0.4 0.5 1.0 1.3 0.8 1.3 1.3 0.5
2. Other non-debt resource inflows
Foreign direct investment 12.9 20.0 37.4 70.2 89.8 151.6 142.2 90.9
Portfolio equity 0.0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 0.4 0.3 0.3 0.4 0.3
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 34.5 33.7 6.3 0.2 0.0 0.0 0.7 0.7
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 57.3 59.7 78.7 91.3 92.2 92.2 90.7 89.9
4. Average terms of new commitments
Official creditors
Interest (%) 4.6 2.6 3.8 2.0 1.8 2.5 0.8 2.6
Maturity (years) 19.1 28.2 24.4 24.3 30.7 25.3 34.1 25.7
Grace period (years) 2.4 5.6 7.2 5.1 9.7 7.2 9.6 6.8
Private creditors
Interest (%) 0.0 0.0 5.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 13.5 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 7.2 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 208.9 262.9 395.8 525.6 535.6 567.3 632.6 578.0
Exports of goods, services & income 95.6 128.7 240.8 160.3 175.6 205.3 201.3 186.9
Worker remit. & comp. of employees 18.0 37.8 46.4 51.6 53.9 54.8 55.4 53.7
Imports of goods, services & income 153.2 187.6 349.0 435.9 444.5 493.1 507.2 398.4
Profit remittances on FDI 8.4 12.6 27.8 22.7 22.0 35.7 33.2 29.9
Current account balance -46.2 -41.8 -88.1 -193.3 -232.9 -261.6 -268.7 -174.8
International reserves 17.6 36.7 57.7 94.3 100.0 110.6 105.3 129.1
6. Ratios
External debt stocks to exports (%) 115.8 98.7 83.6 253.4 280.3 255.6 260.1 284.3
External debt stocks to GNI (%) 53.0 48.3 50.9 77.3 91.9 92.5 82.8 92.0
Debt service to exports (%) 3.4 6.1 6.0 6.5 8.8 8.7 11.1 10.9
Short-term to external debt stocks (%) 11.6 11.5 10.7 1.6 7.1 9.4 11.4 8.7
Multilateral to external debt stocks (%) 35.7 39.6 31.4 27.3 26.1 28.5 29.3 30.4
Reserves to external debt stocks (%) 15.9 28.9 28.6 23.2 20.3 21.1 20.1 24.3
Reserves to imports (months) 1.4 2.4 2.0 2.6 2.7 2.7 2.5 3.9
146
GRENADA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 208.7 13.2 1.5 1.4 0.0
Total amount forgiven 0.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 13.7 13.5 13.9 27.7 11.7 12.8 12.7 12.7
Interest 6.0 5.9 5.7 5.4 4.7 4.4 4.0 3.7
Private creditors
Principal 0.0 0.0 5.6 0.0 0.0 0.0 0.0 0.0
Interest 11.9 11.9 21.1 21.0 28.1 28.1 37.4 37.4
Notes:
Data include the effects of Paris Club debt restructuring agreement signed in 2006.
147
GUATEMALA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,845 3,282 3,853 10,981 12,308 14,570 14,771 13,801
Long-term external debt 2,365 2,470 2,681 9,528 10,834 12,566 12,620 12,575
Public and publicly guaranteed 2,238 2,328 2,540 3,687 3,921 4,189 4,352 4,931
Private nonguaranteed 127 142 142 5,841 6,913 8,377 8,268 7,644
Use of IMF credit 67 0 0 0 0 0 0 0
Short-term external debt 414 811 1,172 1,453 1,474 2,004 2,151 1,226
interest arrears on long-term 207 219 317 414 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 264 257 224 131 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 2,235 2,328 2,540 3,687 3,921 4,189 4,352 4,931
/RQJWHUPSULYDWHVHFWRUGHEW 130 142 142 5,841 6,913 8,377 8,268 7,644
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 139 99 87 82 755 398 508 1,532
External debt flows
Disbursements 166 200 210 2,184 2,240 2,738 1,037 934
Long-term external debt 166 200 210 2,184 2,240 2,738 1,037 934
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 123 213 188 705 831 1,034 1,009 1,019
Long-term external debt 111 213 188 705 831 1,034 1,009 1,019
IMF repurchases 12 0 0 0 0 0 0 0
Net flows 48 140 56 1,316 1,844 2,234 175 -1,010
Long-term external debt 56 -13 22 1,479 1,409 1,704 28 -85
Short-term external debt 4 153 34 -163 435 530 147 -925
Interest payments 114 145 202 550 634 739 747 668
Long-term external debt 91 113 152 497 575 668 672 625
IMF charges 7 0 0 0 0 0 0 0
Short-term external debt 16 32 50 53 59 70 75 43
2. Other non-debt resource inflows
Foreign direct investment 48 75 230 509 592 745 754 566
Portfolio equity 0 .. .. 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.5 2.3 2.1 1.9 1.7
Japanese yen 0.0 2.5 2.9 3.5 3.3 3.1 3.7 3.5
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.5 0.2 0.0 0.0 0.0 0.0 0.0
U.S.dollars 51.6 54.8 75.0 85.7 86.9 88.0 88.6 90.1
4. Average terms of new commitments
Official creditors
Interest (%) 4.9 4.2 7.2 5.4 5.6 5.9 4.4 1.5
Maturity (years) 23.1 30.9 19.2 25.8 23.0 18.5 20.1 23.2
Grace period (years) 6.2 7.9 4.7 5.1 4.1 3.9 4.0 6.3
Private creditors
Interest (%) 8.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 4.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 7,494 14,498 19,065 26,875 29,914 33,718 38,432 35,587
Exports of goods, services & income 1,588 2,870 4,077 7,069 8,036 9,270 10,264 9,181
Worker remit. & comp. of employees 119 358 596 3,067 3,700 4,236 4,460 4,026
Imports of goods, services & income 2,028 3,933 5,991 11,886 13,828 15,910 17,041 13,800
Profit remittances on FDI 37 95 248 370 608 819 886 785
Current account balance -213 -572 -1,050 -1,241 -1,524 -1,786 -1,773 -217
International reserves 362 783 1,806 3,777 4,055 4,315 4,654 5,205
6. Ratios
External debt stocks to exports (%) 179.1 114.3 94.5 155.3 153.2 157.2 143.9 150.3
External debt stocks to GNI (%) 38.0 22.6 20.2 40.9 41.1 43.2 38.4 38.8
Debt service to exports (%) 14.9 12.5 9.6 17.8 18.2 19.1 17.1 18.4
Short-term to external debt stocks (%) 14.5 24.7 30.4 13.2 12.0 13.8 14.6 8.9
Multilateral to external debt stocks (%) 36.4 30.4 38.0 18.3 19.7 19.7 20.5 26.2
Reserves to external debt stocks (%) 12.7 23.9 46.9 34.4 32.9 29.6 31.5 37.7
Reserves to imports (months) 2.1 2.4 3.6 3.8 3.5 3.3 3.3 4.5
148
GUATEMALA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 30 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 538 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 313 283 271 278 309 311 310 315
Interest 122 116 109 102 95 87 79 71
Private creditors
Principal 2,045 1,764 1,287 1,092 640 454 378 303
Interest 423 336 198 152 115 86 64 45
Notes:
Data on long-term private nonguaranteed debt data are World Bank staff estimates.
149
GUINEA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,478 3,248 3,066 2,898 3,046 3,143 3,094 2,926
Long-term external debt 2,253 2,991 2,655 2,727 2,822 2,939 2,831 2,827
Public and publicly guaranteed 2,253 2,991 2,655 2,727 2,822 2,939 2,831 2,827
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 51 94 113 87 72 65 71 59
Short-term external debt 173 164 299 84 152 139 192 40
interest arrears on long-term 56 85 82 84 90 95 36 36
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 190 372 322 306 311 271 126 127
/RQJWHUPSXEOLFVHFWRUGHEW 2,253 2,991 2,655 2,727 2,822 2,939 2,831 2,827
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 487 215 76 39 9 1 0 0
External debt flows
Disbursements 196 200 75 91 73 89 94 49
Long-term external debt 196 169 75 91 73 78 67 49
IMF purchases 0 31 0 0 0 11 28 0
Principal repayments 110 128 100 116 106 106 103 96
Long-term external debt 95 120 92 91 86 85 84 83
IMF repurchases 14 9 8 26 19 21 20 13
Net flows 86 99 -37 -25 29 -36 103 -199
Long-term external debt 100 50 -17 1 -14 -7 -17 -35
Short-term external debt 0 27 -12 0 62 -18 112 -152
Interest payments 59 49 57 47 50 50 37 33
Long-term external debt 53 44 41 46 46 49 34 33
IMF charges 2 0 1 1 0 0 0 0
Short-term external debt 4 5 15 0 4 1 3 0
2. Other non-debt resource inflows
Foreign direct investment 18 1 10 105 125 386 382 141
Portfolio equity .. .. 0 .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 9.8 11.0 12.1 11.7 12.5
Japanese yen 2.2 3.5 3.1 2.0 1.7 1.6 1.9 1.7
Pound sterling 1.8 0.8 0.4 0.2 0.2 0.1 0.0 0.0
Swiss franc 0.6 0.3 0.2 0.2 0.2 0.2 0.3 0.3
U.S.dollars 33.1 48.4 60.5 63.8 63.1 63.3 66.0 65.4
4. Average terms of new commitments
Official creditors
Interest (%) 2.6 2.0 1.3 0.5 0.8 0.8 0.0 0.0
Maturity (years) 30.5 25.9 38.1 34.4 23.4 49.9 0.0 0.0
Grace period (years) 8.2 8.5 9.1 8.4 9.2 10.4 0.0 0.0
Private creditors
Interest (%) 0.0 2.7 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 3.5 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 2,518 3,609 3,035 2,661 2,564 3,885 3,492 6,058
Exports of goods, services & income 841 713 758 .. .. 1,313 1,459 ..
Worker remit. & comp. of employees 18 1 1 78 114 151 72 71
Imports of goods, services & income 1,115 1,109 973 .. .. 1,610 1,911 ..
Profit remittances on FDI 61 23 8 .. .. 54 14 ..
Current account balance -203 -216 -140 .. .. -382 -434 ..
International reserves .. 87 168 97 .. .. .. ..
6. Ratios
External debt stocks to exports (%) 294.6 455.5 404.7 .. .. 239.4 212.0 ..
External debt stocks to GNI (%) 98.4 90.0 101.0 108.9 118.8 80.9 88.6 48.3
Debt service to exports (%) 20.0 24.9 20.7 .. .. 11.9 9.6 ..
Short-term to external debt stocks (%) 7.0 5.0 9.7 2.9 5.0 4.4 6.2 1.4
Multilateral to external debt stocks (%) 27.4 45.0 52.7 60.3 59.1 59.4 59.7 62.4
Reserves to external debt stocks (%) .. 2.7 5.5 3.4 .. .. .. ..
Reserves to imports (months) .. 0.9 2.1 .. .. .. .. ..
150
GUINEA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 110 130 0 0 0 41 86 17
Total amount forgiven 2 61 0 13 14 23 177 25
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 116 118 118 118 122 134 125 117
Interest 40 42 39 37 35 32 29 27
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 2 2 2 2 2 2 2 2
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Data include the effects of Paris Club debt restructuring
agreement signed in 2008. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $14,757 in thousands and $5,738 in
thousands respectively.
151
GUINEA-BISSAU
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 695 895 947 1,013 1,036 1,073 1,084 1,111
Long-term external debt 633 794 822 881 902 925 931 950
Public and publicly guaranteed 633 794 822 881 902 925 931 950
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 5 6 25 12 8 5 9 10
Short-term external debt 56 95 100 121 126 142 144 151
interest arrears on long-term 30 89 87 119 126 142 144 151
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 113 251 219 256 252 245 270 318
/RQJWHUPSXEOLFVHFWRUGHEW 633 794 822 881 902 925 931 950
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 98 22 27 9 0 0 0 0
External debt flows
Disbursements 36 23 22 14 9 15 12 6
Long-term external debt 36 21 14 14 9 15 6 4
IMF purchases 0 2 9 0 0 0 6 3
Principal repayments 2 9 3 4 7 7 6 6
Long-term external debt 2 8 3 1 3 4 4 5
IMF repurchases 0 1 0 3 4 3 2 2
Net flows 46 13 29 9 0 9 5 0
Long-term external debt 34 13 11 13 6 12 2 -1
Short-term external debt 12 -1 10 -1 -2 0 0 0
Interest payments 6 6 2 2 3 3 3 4
Long-term external debt 3 6 2 2 3 3 3 4
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 3 0 0 0 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment 2 0 1 9 18 19 5 14
Portfolio equity 0 .. .. 0 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 10.4 11.1 12.1 11.4 11.6
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 8.5 6.6 11.0 12.6 5.1 5.4 5.6 5.7
U.S.dollars 27.6 38.3 34.0 46.7 52.3 50.0 50.6 50.9
4. Average terms of new commitments
Official creditors
Interest (%) 2.2 0.8 0.9 0.8 0.0 0.0 0.0 0.0
Maturity (years) 28.1 39.8 37.9 45.5 0.0 0.0 0.0 0.0
Grace period (years) 10.4 10.3 10.1 10.3 0.0 0.0 0.0 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 233 236 203 290 308 371 446 439
Exports of goods, services & income 26 30 .. .. .. 141 172 ..
Worker remit. & comp. of employees 1 2 8 28 28 29 30 30
Imports of goods, services & income 110 110 .. .. .. 246 299 ..
Profit remittances on FDI 0 .. .. 0 0 0 0 ..
Current account balance -45 -35 .. .. .. .. .. ..
International reserves 18 20 67 80 82 113 125 169
6. Ratios
External debt stocks to exports (%) 2,661.0 3,024.9 .. .. .. 761.6 629.7 ..
External debt stocks to GNI (%) 297.7 379.4 466.5 349.5 336.7 289.4 243.1 253.2
Debt service to exports (%) 32.3 52.4 .. .. .. 7.3 5.5 ..
Short-term to external debt stocks (%) 8.1 10.6 10.6 11.9 12.2 13.3 13.3 13.6
Multilateral to external debt stocks (%) 39.4 41.3 41.9 45.1 46.4 47.6 46.9 45.6
Reserves to external debt stocks (%) 2.6 2.3 7.0 7.9 7.9 10.5 11.5 15.2
Reserves to imports (months) 2.0 2.2 .. .. .. 5.5 5.0 ..
152
GUINEA-BISSAU
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 16 14 0 0 0 0 0 0
Total amount forgiven 5 15 1 9 6 6 10 7
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 31 29 28 21 21 22 23 23
Interest 8 7 7 6 6 6 6 6
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Data for 2007, 2008, and 2009 include the effects of Enhanced
HIPC Initiative, in the amount of $5,787 in thousands, $7,311 in thousands, and $7,383 in thousands respectively.
153
GUYANA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,960 2,116 1,364 1,216 1,141 736 829 1,036
Long-term external debt 1,773 1,794 1,128 1,043 923 584 676 781
Public and publicly guaranteed 1,773 1,794 1,124 1,041 923 584 676 781
Private nonguaranteed 0 0 4 2 0 0 0 0
Use of IMF credit 113 172 117 91 56 59 57 58
Short-term external debt 75 150 119 82 162 93 96 197
interest arrears on long-term 63 133 67 82 86 93 96 98
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 184 114 65 66 76 75 75 78
/RQJWHUPSXEOLFVHFWRUGHEW 1,773 1,794 1,124 1,041 923 584 676 781
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 4 2 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 282 45 85 166 4 144 123 74
External debt flows
Disbursements 264 59 73 131 136 101 139 105
Long-term external debt 159 45 64 104 109 101 139 105
IMF purchases 104 14 9 27 27 0 0 0
Principal repayments 175 74 39 24 15 16 16 8
Long-term external debt 69 50 23 16 15 16 16 8
IMF repurchases 107 24 17 8 0 0 0 0
Net flows 256 -8 21 76 197 9 123 196
Long-term external debt 91 -5 41 88 94 85 123 97
Short-term external debt 167 7 -13 -31 76 -76 0 99
Interest payments 120 35 30 11 16 12 11 11
Long-term external debt 73 31 26 10 14 9 10 10
IMF charges 40 3 1 0 0 0 0 0
Short-term external debt 7 1 3 1 2 2 0 1
2. Other non-debt resource inflows
Foreign direct investment 8 74 67 77 102 152 168 144
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.1 2.7 4.6 3.5 2.9
Japanese yen 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 10.4 9.1 5.6 0.2 0.2 0.1 0.1 0.1
Swiss franc 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 68.0 64.9 69.3 74.3 70.7 86.5 88.9 90.2
4. Average terms of new commitments
Official creditors
Interest (%) 1.3 1.5 2.0 1.3 1.9 1.0 1.6 1.6
Maturity (years) 39.7 38.7 40.0 30.5 29.8 36.6 28.4 29.1
Grace period (years) 9.9 10.4 10.5 9.2 7.6 9.0 4.1 4.7
Private creditors
Interest (%) 0.0 8.8 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 31.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 275 567 661 804 818 1,039 1,145 ..
Exports of goods, services & income .. 641 684 697 730 889 1,035 ..
Worker remit. & comp. of employees .. 2 27 201 218 283 278 266
Imports of goods, services & income .. 838 813 960 1,127 1,288 1,556 ..
Profit remittances on FDI .. .. 6 7 9 7 0 ..
Current account balance .. -135 -82 -96 -181 -112 -192 ..
International reserves 29 269 305 252 280 313 356 631
6. Ratios
External debt stocks to exports (%) .. 329.9 199.5 174.5 156.3 82.7 80.1 ..
External debt stocks to GNI (%) 712.5 373.1 206.6 151.2 139.5 70.8 72.4 ..
Debt service to exports (%) .. 17.0 10.1 4.9 4.3 3.1 2.6 ..
Short-term to external debt stocks (%) 3.8 7.1 8.7 6.7 14.2 12.7 11.6 19.0
Multilateral to external debt stocks (%) 23.9 30.2 43.9 70.0 63.1 49.9 46.0 43.2
Reserves to external debt stocks (%) 1.5 12.7 22.3 20.7 24.5 42.6 42.9 60.9
Reserves to imports (months) .. 3.9 4.5 3.1 3.0 2.9 2.7 ..
154
GUYANA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 474 1 0 79 0 0 0 0
Total amount forgiven 32 0 14 175 298 429 13 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 24 24 26 29 32 36 36 38
Interest 12 13 13 13 12 12 11 10
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Guyana was granted debt relief effective in 2006 under MDRI.
155
HAITI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 917 821 1,173 1,327 1,505 1,580 1,946 1,244
Long-term external debt 778 766 1,043 1,278 1,346 1,525 1,842 1,078
Public and publicly guaranteed 778 766 1,043 1,278 1,346 1,525 1,842 1,078
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 38 29 39 21 32 56 105 166
Short-term external debt 101 27 90 28 126 0 0 0
interest arrears on long-term 24 1 1 15 18 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 43 2 2 22 27 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 778 766 1,043 1,278 1,346 1,525 1,842 1,078
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 102 254 0 240 0 116 185 114
External debt flows
Disbursements 44 128 51 93 98 151 406 272
Long-term external debt 38 103 51 77 83 97 356 212
IMF purchases 5 25 0 15 15 54 50 61
Principal repayments 21 66 24 38 38 56 34 30
Long-term external debt 8 34 18 34 34 23 34 26
IMF repurchases 12 32 6 5 4 33 0 3
Net flows 39 75 21 21 155 -14 372 243
Long-term external debt 30 70 33 44 50 74 322 185
Short-term external debt 16 13 -6 -34 95 -108 0 0
Interest payments 15 32 20 19 21 26 24 15
Long-term external debt 6 25 15 17 17 22 23 15
IMF charges 3 5 1 0 1 1 0 1
Short-term external debt 7 2 5 1 3 3 0 0
2. Other non-debt resource inflows
Foreign direct investment 8 7 13 26 161 75 30 38
Portfolio equity 0 .. 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.4 3.6 5.7 5.0 4.3
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 71.0 77.5 82.1 80.4 81.3 80.9 84.0 86.4
4. Average terms of new commitments
Official creditors
Interest (%) 1.4 1.2 0.0 1.0 0.0 1.8 1.0 1.0
Maturity (years) 38.9 39.9 0.0 39.4 0.0 34.0 25.0 24.9
Grace period (years) 10.4 10.4 0.0 10.3 0.0 8.2 3.0 3.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. .. .. .. .. .. .. ..
Exports of goods, services & income 325 192 504 605 708 801 861 964
Worker remit. & comp. of employees .. .. 578 986 1,063 1,222 1,370 1,376
Imports of goods, services & income 540 832 1,378 1,888 2,154 2,404 2,876 2,831
Profit remittances on FDI 0 4 0 0 0 0 0 0
Current account balance -22 -87 -114 7 -85 -86 -289 -232
International reserves 10 199 183 134 254 453 543 790
6. Ratios
External debt stocks to exports (%) 282.2 426.8 232.8 219.3 212.6 197.3 226.1 129.0
External debt stocks to GNI (%) .. .. .. .. .. .. .. ..
Debt service to exports (%) 11.1 51.0 8.8 9.4 8.4 10.3 6.7 4.6
Short-term to external debt stocks (%) 11.0 3.2 7.7 2.1 8.4 .. .. ..
Multilateral to external debt stocks (%) 54.0 74.9 77.3 81.1 76.0 79.0 68.3 41.8
Reserves to external debt stocks (%) 1.1 24.2 15.6 10.1 16.9 28.7 27.9 63.5
Reserves to imports (months) 0.2 2.9 1.6 0.9 1.4 2.3 2.3 3.3
156
HAITI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 108 0 0 0 93 12 99
Total amount forgiven 0 11 0 0 1 32 18 936
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 15 23 29 32 35 38 46 47
Interest 13 19 19 18 18 18 17 16
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data include the effects of Paris Club debt restructuring agreement signed in 2006 and in 2009. Data for 2007, 2008, and 2009 include the effects of MDRI and
HIPC debt relief, in the amount of $8,148 in thousands, $814 in thousands, and $451,744 in thousands respectively.
157
HONDURAS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 3,718 4,851 5,402 5,226 4,207 3,311 3,508 3,675
Long-term external debt 3,487 4,370 4,813 4,645 3,666 2,617 2,960 3,326
Public and publicly guaranteed 3,420 4,247 4,253 4,137 3,031 1,994 2,303 2,446
Private nonguaranteed 66 123 560 509 635 624 657 880
Use of IMF credit 32 99 216 168 31 32 31 32
Short-term external debt 199 382 374 412 510 662 517 317
interest arrears on long-term 89 63 35 12 9 9 3 10
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 190 197 72 48 47 44 32 30
/RQJWHUPSXEOLFVHFWRUGHEW 3,313 4,223 4,233 4,137 3,031 1,994 2,303 2,446
/RQJWHUPSULYDWHVHFWRUGHEW 173 147 580 509 635 624 657 880
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 452 358 174 369 198 269 539 257
External debt flows
Disbursements 457 379 368 496 357 385 649 704
Long-term external debt 429 349 347 481 342 385 649 704
IMF purchases 29 31 21 15 15 0 0 0
Principal repayments 211 352 261 280 203 234 277 341
Long-term external debt 176 308 256 264 203 234 277 341
IMF repurchases 35 44 5 15 0 0 0 0
Net flows 129 90 44 246 255 304 233 156
Long-term external debt 252 40 90 217 140 152 372 363
Short-term external debt -117 62 -63 30 101 152 -139 -207
Interest payments 178 226 131 105 131 114 91 73
Long-term external debt 157 203 107 83 102 81 76 68
IMF charges 6 5 4 1 0 0 0 0
Short-term external debt 15 18 20 21 29 33 14 5
2. Other non-debt resource inflows
Foreign direct investment 44 50 382 600 669 929 877 500
Portfolio equity 0 0 0 0 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.7 4.9 8.8 9.4 10.0
Japanese yen 8.4 9.2 7.9 0.5 0.0 0.0 0.0 0.0
Pound sterling 0.9 0.6 0.4 0.0 0.0 0.0 0.0 0.0
Swiss franc 2.1 1.4 0.9 0.1 0.2 0.2 0.2 0.1
U.S.dollars 45.2 48.9 65.7 72.5 65.8 68.1 69.1 69.2
4. Average terms of new commitments
Official creditors
Interest (%) 6.1 2.3 1.5 1.3 1.7 1.8 2.8 3.4
Maturity (years) 22.7 29.5 39.7 26.3 29.1 27.0 24.4 26.7
Grace period (years) 6.5 7.2 10.2 9.3 8.6 8.5 5.4 5.5
Private creditors
Interest (%) 9.9 8.4 3.8 1.7 0.0 0.0 0.0 0.8
Maturity (years) 7.1 28.6 7.2 50.0 0.0 0.0 0.0 18.2
Grace period (years) 0.6 1.1 3.0 10.5 0.0 0.0 0.0 18.2
5. Major economic aggregates
Gross national income (GNI) 2,797 3,649 6,951 9,300 10,376 12,013 13,695 14,182
Exports of goods, services & income 1,053 1,667 4,001 5,893 6,220 6,695 7,128 6,102
Worker remit. & comp. of employees 63 124 484 1,821 2,391 2,625 2,869 2,553
Imports of goods, services & income 1,384 2,111 5,047 8,092 9,074 10,621 12,126 9,202
Profit remittances on FDI 72 40 160 479 621 535 460 472
Current account balance -51 -201 -508 -304 -381 -1,275 -1,977 ..
International reserves 47 270 1,319 2,338 2,642 2,546 2,492 ..
6. Ratios
External debt stocks to exports (%) 353.0 291.0 135.0 88.7 67.6 49.5 49.2 60.2
External debt stocks to GNI (%) 132.9 132.9 77.7 56.2 40.5 27.6 25.6 25.9
Debt service to exports (%) 36.9 34.7 9.8 6.5 5.4 5.2 5.2 6.8
Short-term to external debt stocks (%) 5.4 7.9 6.9 7.9 12.1 20.0 14.7 8.6
Multilateral to external debt stocks (%) 42.5 44.4 50.5 60.9 54.3 38.4 40.8 41.3
Reserves to external debt stocks (%) 1.3 5.6 24.4 44.7 62.8 76.9 71.0 ..
Reserves to imports (months) 0.4 1.5 3.1 3.5 3.5 2.9 2.5 ..
158
HONDURAS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 308 25 413 58 10 31 0 0
Total amount forgiven 61 10 19 779 1,511 1,193 62 8
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 95 85 89 105 101 109 107 119
Interest 63 65 66 65 65 64 62 59
Private creditors
Principal 238 168 151 90 71 53 44 35
Interest 40 29 20 15 11 7 5 3
Notes:
Data for 2007 include the effects of MDRI, in the amount of $8,697 in thousands.
159
INDIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 85,661 95,174 100,243 120,224 158,493 202,793 224,713 237,692
Long-term external debt 74,346 87,709 96,781 111,408 133,396 166,700 180,891 194,741
Public and publicly guaranteed 72,858 81,091 81,195 54,729 60,035 69,719 74,967 76,531
Private nonguaranteed 1,488 6,618 15,586 56,680 73,361 96,980 105,925 118,211
Use of IMF credit 2,771 2,416 0 0 0 0 0 0
Short-term external debt 8,544 5,049 3,462 8,816 25,097 36,093 43,821 42,950
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 72,317 80,631 80,709 54,600 59,926 69,624 74,809 76,361
/RQJWHUPSULYDWHVHFWRUGHEW 2,029 7,078 16,072 56,808 73,470 97,076 106,082 118,380
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 8,606 4,914 10,707 2,491 4,557 11,530 3,722 0
External debt flows
Disbursements 8,255 7,147 10,556 19,380 32,426 64,455 37,566 22,778
Long-term external debt 6,533 7,147 10,556 19,380 32,426 64,455 37,566 22,778
IMF purchases 1,723 0 0 0 0 0 0 0
Principal repayments 3,345 8,676 6,728 19,384 12,412 32,097 23,667 10,728
Long-term external debt 2,633 6,949 6,702 19,384 12,412 32,097 23,667 10,728
IMF repurchases 713 1,727 25 0 0 0 0 0
Net flows 5,953 -745 3,358 1,949 36,295 43,355 21,628 11,179
Long-term external debt 3,900 197 3,854 -3 20,014 32,359 13,899 12,050
Short-term external debt 1,043 785 -471 1,952 16,281 10,996 7,728 -871
Interest payments 4,796 4,931 4,193 4,509 4,947 7,268 7,269 5,422
Long-term external debt 3,766 4,363 4,007 4,196 4,523 5,486 5,706 4,867
IMF charges 131 183 1 0 0 0 0 0
Short-term external debt 899 385 185 314 424 1,782 1,563 555
2. Other non-debt resource inflows
Foreign direct investment 237 2,144 3,584 7,606 20,336 25,127 41,169 34,577
Portfolio equity 0 1,590 2,481 12,151 9,509 34,986 -15,030 21,111
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 7.4 7.0 6.4 5.5 5.3
Japanese yen 9.9 15.1 12.6 20.0 20.3 19.1 22.9 21.6
Pound sterling 6.1 4.7 3.8 3.7 3.1 2.5 2.1 1.9
Swiss franc 0.7 0.9 0.3 0.3 0.3 0.2 0.2 0.1
U.S.dollars 59.6 52.0 66.3 65.6 66.1 67.3 64.4 65.2
4. Average terms of new commitments
Official creditors
Interest (%) 3.9 3.5 5.5 2.9 2.9 3.4 1.8 1.1
Maturity (years) 28.7 26.7 24.0 25.2 28.2 24.2 26.5 27.8
Grace period (years) 8.4 8.3 6.6 7.2 5.1 6.2 5.4 6.5
Private creditors
Interest (%) 6.8 5.7 4.3 4.6 5.8 6.4 4.5 3.6
Maturity (years) 15.0 5.9 5.1 3.5 3.1 10.1 7.8 3.4
Grace period (years) 7.3 4.8 4.8 3.5 1.4 3.9 2.3 2.5
5. Major economic aggregates
Gross national income (GNI) 313,262 352,268 455,206 831,296 942,594 1,227,861 1,209,613 1,304,800
Exports of goods, services & income 23,347 39,499 62,453 160,348 201,697 248,928 306,451 274,404
Worker remit. & comp. of employees 2,384 6,223 12,883 22,125 28,334 37,217 49,941 49,256
Imports of goods, services & income 33,220 53,444 80,489 194,274 239,713 297,356 390,745 323,960
Profit remittances on FDI 0 0 .. 5,244 7,738 10,526 10,141 ..
Current account balance -7,036 -5,563 -4,601 -10,284 -9,299 -11,284 -36,088 ..
International reserves 5,637 22,865 41,059 137,825 178,050 276,578 257,423 284,683
6. Ratios
External debt stocks to exports (%) 366.9 241.0 160.5 75.0 78.6 81.5 73.3 86.6
External debt stocks to GNI (%) 27.3 27.0 22.0 14.5 16.8 16.5 18.6 18.2
Debt service to exports (%) 34.9 34.4 17.5 14.9 8.6 15.8 10.1 5.9
Short-term to external debt stocks (%) 10.0 5.3 3.5 7.3 15.8 17.8 19.5 18.1
Multilateral to external debt stocks (%) 25.8 31.6 30.4 26.2 21.7 18.3 17.5 17.5
Reserves to external debt stocks (%) 6.6 24.0 41.0 114.6 112.3 136.4 114.6 119.8
Reserves to imports (months) 2.0 5.1 6.1 8.5 8.9 11.2 7.9 10.5
160
INDIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 4,678 4,730 4,898 5,153 5,264 5,163 5,003 4,919
Interest 1,032 1,012 959 886 806 723 645 569
Private creditors
Principal 35,786 22,861 24,769 11,742 9,421 7,067 6,274 4,922
Interest 5,402 4,067 3,029 2,094 1,610 1,196 879 606
Notes:
External debt data prior to 2003 are mechanically adjusted from fiscal year to calendar year. Public and publicly guaranteed bonds include Foreign Institutional
Investor debt (FII) as reported by the Reserve Bank of India. Short-term debt is based on reports provided by the country and data for 2006 are revised.
161
INDONESIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 69,872 124,413 143,358 134,353 125,348 133,917 146,247 157,517
Long-term external debt 58,242 98,446 110,832 117,512 115,363 118,469 127,194 138,854
Public and publicly guaranteed 47,982 65,323 69,663 74,248 70,541 72,085 79,812 86,020
Private nonguaranteed 10,261 33,123 41,169 43,264 44,822 46,384 47,383 52,834
Use of IMF credit 494 0 10,838 7,807 0 0 0 0
Short-term external debt 11,135 25,966 21,688 9,034 9,984 15,448 19,052 18,662
interest arrears on long-term 0 0 4,632 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1 0 3,000 148 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 47,982 65,323 69,663 74,248 70,541 72,085 79,812 86,020
/RQJWHUPSULYDWHVHFWRUGHEW 10,261 33,123 41,169 43,264 44,822 46,384 47,383 52,834
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 6,854 11,003 2,221 4,541 4,727 5,948 9,723 14,791
External debt flows
Disbursements 10,024 13,633 6,773 13,879 18,472 18,339 22,928 31,424
Long-term external debt 10,024 13,633 5,651 13,879 18,472 18,339 22,928 31,424
IMF purchases 0 0 1,123 0 0 0 0 0
Principal repayments 5,969 10,200 9,269 16,891 24,464 18,819 16,712 20,428
Long-term external debt 5,812 10,200 9,269 15,746 16,427 18,819 16,712 20,428
IMF repurchases 157 0 0 1,145 8,037 0 0 0
Net flows 7,216 9,943 -1,969 -8,602 -5,042 4,984 9,821 10,606
Long-term external debt 4,213 3,434 -3,618 -1,868 2,045 -480 6,217 10,996
Short-term external debt 3,160 6,509 527 -5,590 950 5,464 3,604 -390
Interest payments 3,978 6,221 7,356 3,337 3,817 5,113 4,656 4,424
Long-term external debt 3,413 4,937 5,674 2,933 3,416 4,996 4,461 4,301
IMF charges 59 0 526 313 292 0 0 0
Short-term external debt 506 1,284 1,157 91 109 117 195 123
2. Other non-debt resource inflows
Foreign direct investment 1,093 4,346 -4,550 8,336 4,914 6,928 9,318 4,877
Portfolio equity 0 1,493 -1,021 -165 1,898 3,559 322 787
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 13.3 14.4 14.7 11.7 10.1
Japanese yen 34.6 35.3 33.1 33.8 34.0 33.5 36.6 32.4
Pound sterling 1.4 0.8 1.2 2.2 2.0 1.8 1.1 1.0
Swiss franc 0.4 0.7 0.6 0.6 0.6 0.5 0.4 0.4
U.S.dollars 20.9 21.5 50.3 45.4 44.3 44.6 45.6 51.7
4. Average terms of new commitments
Official creditors
Interest (%) 5.5 5.1 2.9 3.9 3.9 2.8 2.1 1.6
Maturity (years) 23.5 21.4 24.5 23.5 25.7 24.7 20.4 22.2
Grace period (years) 6.5 5.8 6.8 6.1 6.7 7.4 6.9 5.5
Private creditors
Interest (%) 7.3 6.8 6.6 6.9 7.2 6.4 6.9 9.6
Maturity (years) 17.1 12.4 7.7 14.7 20.9 27.4 18.0 8.0
Grace period (years) 3.9 3.8 4.4 12.9 18.3 26.6 17.4 7.7
5. Major economic aggregates
Gross national income (GNI) 109,209 196,188 150,317 271,958 349,038 414,441 492,372 521,391
Exports of goods, services & income 29,704 54,229 73,079 102,260 117,635 133,971 158,444 135,180
Worker remit. & comp. of employees 166 651 1,190 5,420 5,722 6,174 6,794 6,793
Imports of goods, services & income 33,110 61,641 66,903 106,775 111,639 128,582 163,682 129,295
Profit remittances on FDI 2,192 718 3,574 9,525 9,637 10,813 10,675 8,848
Current account balance -2,988 -6,431 7,992 278 10,859 10,493 126 10,746
International reserves 8,657 14,908 29,353 34,731 42,597 56,936 51,641 66,119
6. Ratios
External debt stocks to exports (%) 235.2 229.4 196.2 131.4 106.6 100.0 92.3 116.5
External debt stocks to GNI (%) 64.0 63.4 95.4 49.4 35.9 32.3 29.7 30.2
Debt service to exports (%) 33.5 30.3 22.7 19.8 24.0 17.9 13.5 18.4
Short-term to external debt stocks (%) 15.9 20.9 15.1 6.7 8.0 11.5 13.0 11.8
Multilateral to external debt stocks (%) 20.4 16.1 13.9 13.8 14.6 13.9 13.6 13.4
Reserves to external debt stocks (%) 12.4 12.0 20.5 25.9 34.0 42.5 35.3 42.0
Reserves to imports (months) 3.1 2.9 5.3 3.9 4.6 5.3 3.8 6.1
162
INDONESIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 2,461 2,608 0 0 0 0
Total amount forgiven 0 0 0 0 92 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 6,466 5,824 5,756 6,063 5,703 5,290 4,753 4,200
Interest 1,481 1,363 1,233 1,101 960 826 702 598
Private creditors
Principal 9,214 11,420 7,991 5,806 9,063 3,020 3,568 2,538
Interest 3,633 3,264 2,832 2,845 2,513 1,873 1,625 1,398
Notes:
Debt data are significantly revised as previous publications included local currency external debt. Data on long-term private nonguaranteed debt data might
include short-term debt data until 2005 and are revised based on reports provided by the country from 2006.
163
IRAN, ISLAMIC REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 9,020 21,565 7,717 21,879 19,386 21,072 13,967 13,435
Long-term external debt 1,797 15,116 4,709 10,521 11,127 11,172 8,932 7,524
Public and publicly guaranteed 1,797 15,116 4,709 10,521 11,127 11,172 8,932 7,524
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 7,224 6,449 3,008 11,358 8,259 9,900 5,035 5,911
interest arrears on long-term 456 6 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1,517 48 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 1,797 15,031 4,689 10,511 11,120 11,166 8,929 7,524
/RQJWHUPSULYDWHVHFWRUGHEW 0 84 20 10 7 6 3 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 1,241 1,978 2,813 1,992 797 0 35 10
External debt flows
Disbursements 139 979 1,469 2,750 1,724 1,106 978 504
Long-term external debt 139 979 1,469 2,750 1,724 1,106 978 504
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 225 4,120 2,345 1,733 1,718 2,006 2,162 2,093
Long-term external debt 225 4,120 2,345 1,733 1,718 2,006 2,162 2,093
IMF repurchases 0 0 0 0 0 0 0 0
Net flows 2,480 -227 -1,485 1,439 -3,093 740 -6,049 -713
Long-term external debt -86 -3,141 -876 1,017 6 -901 -1,184 -1,589
Short-term external debt 2,566 2,914 -609 422 -3,099 1,641 -4,865 876
Interest payments 430 1,602 572 1,099 1,033 946 616 485
Long-term external debt 28 1,107 391 419 509 572 502 278
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 402 494 180 680 524 374 114 207
2. Other non-debt resource inflows
Foreign direct investment -362 17 39 3,136 1,647 1,670 1,615 3,016
Portfolio equity 0 0 0 .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 52.3 55.9 58.5 57.1 57.0
Japanese yen 4.2 4.9 9.4 8.1 6.8 6.9 7.3 7.5
Pound sterling 0.0 0.0 0.6 0.1 0.1 0.0 0.0 0.0
Swiss franc 0.0 0.6 3.9 4.4 3.6 3.4 2.7 2.4
U.S.dollars 88.6 71.5 68.3 34.9 33.4 31.0 32.8 32.9
4. Average terms of new commitments
Official creditors
Interest (%) 7.3 7.5 4.9 4.4 5.9 0.0 0.0 7.8
Maturity (years) 13.5 8.2 13.5 15.0 11.8 0.0 0.0 9.9
Grace period (years) 5.0 2.3 4.4 4.4 3.8 0.0 0.0 5.4
Private creditors
Interest (%) 8.6 6.3 6.6 4.9 6.0 0.0 5.6 0.0
Maturity (years) 8.3 11.3 10.3 10.1 10.0 0.0 6.7 0.0
Grace period (years) 3.7 3.4 2.9 2.6 2.5 0.0 2.2 0.0
5. Major economic aggregates
Gross national income (GNI) 115,922 90,172 101,335 188,503 219,296 283,000 335,654 328,593
Exports of goods, services & income 20,197 19,269 30,131 .. .. .. .. ..
Worker remit. & comp. of employees .. 1,600 536 1,032 1,032 1,115 1,115 1,072
Imports of goods, services & income 22,370 15,907 18,107 .. .. .. .. ..
Profit remittances on FDI 0 0 0 .. .. .. .. ..
Current account balance 327 3,358 12,481 .. .. .. .. ..
International reserves .. .. .. .. .. .. .. ..
6. Ratios
External debt stocks to exports (%) 44.7 111.9 25.6 .. .. .. .. ..
External debt stocks to GNI (%) 7.8 23.9 7.6 11.6 8.8 7.4 4.2 4.1
Debt service to exports (%) 3.2 29.7 9.7 .. .. .. .. ..
Short-term to external debt stocks (%) 80.1 29.9 39.0 51.9 42.6 47.0 36.1 44.0
Multilateral to external debt stocks (%) 1.3 1.8 6.6 1.7 2.9 3.3 5.4 6.2
Reserves to external debt stocks (%) .. .. .. .. .. .. .. ..
Reserves to imports (months) .. .. .. .. .. .. .. ..
164
IRAN, ISLAMIC REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 3,178 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 514 441 429 282 246 182 165 122
Interest 52 41 30 22 17 12 8 6
Private creditors
Principal 1,765 1,284 1,054 740 502 315 179 74
Interest 82 59 39 24 13 6 2 1
Notes:
Fiscal year-end for external debt data is March.
165
JAMAICA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 4,761 4,581 4,724 6,531 8,059 10,422 10,331 10,959
Long-term external debt 4,058 3,849 3,871 5,914 6,956 8,883 9,068 9,905
Public and publicly guaranteed 4,024 3,721 3,768 5,524 6,144 6,710 6,904 6,664
Private nonguaranteed 34 128 103 390 811 2,173 2,164 3,241
Use of IMF credit 357 240 60 0 0 0 0 0
Short-term external debt 346 492 793 617 1,103 1,539 1,263 1,054
interest arrears on long-term 124 102 150 225 261 284 267 239
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 157 203 131 146 219 157 146 176
/RQJWHUPSXEOLFVHFWRUGHEW 4,024 3,721 3,767 5,523 6,143 6,709 6,902 6,663
/RQJWHUPSULYDWHVHFWRUGHEW 34 128 104 391 813 2,174 2,165 3,242
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 360 234 1,066 1,123 886 809 720 774
External debt flows
Disbursements 348 316 904 1,346 1,216 2,396 692 1,502
Long-term external debt 292 305 904 1,346 1,216 2,396 692 1,502
IMF purchases 56 11 0 0 0 0 0 0
Principal repayments 401 436 443 551 312 590 459 702
Long-term external debt 290 340 424 550 312 590 459 702
IMF repurchases 111 95 19 1 0 0 0 0
Net flows -99 -106 440 317 1,354 2,219 -26 619
Long-term external debt 2 -35 481 797 904 1,806 233 800
Short-term external debt -45 14 -21 -479 450 413 -259 -181
Interest payments 260 232 261 419 512 717 702 748
Long-term external debt 202 191 208 387 473 657 675 736
IMF charges 34 17 4 0 0 0 0 0
Short-term external debt 24 24 49 32 39 60 27 12
2. Other non-debt resource inflows
Foreign direct investment 138 147 468 682 882 866 1,437 541
Portfolio equity 0 0 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 17.9 20.4 22.2 20.3 17.3
Japanese yen 4.7 9.9 7.1 3.4 2.8 2.4 2.7 2.6
Pound sterling 5.7 4.1 2.0 1.5 1.4 1.2 0.5 0.6
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 50.0 47.6 61.7 70.1 70.0 69.8 72.6 76.2
4. Average terms of new commitments
Official creditors
Interest (%) 7.5 5.6 6.1 4.1 1.4 3.2 4.3 3.8
Maturity (years) 19.8 21.6 19.8 22.0 18.5 19.8 23.8 16.5
Grace period (years) 4.7 4.7 5.4 5.7 16.9 5.1 5.4 4.2
Private creditors
Interest (%) 8.7 6.3 11.0 8.2 7.9 7.7 7.5 4.8
Maturity (years) 1.9 8.9 6.0 12.8 20.6 27.2 10.8 8.0
Grace period (years) 0.4 2.1 4.2 10.6 15.3 23.0 8.2 1.0
5. Major economic aggregates
Gross national income (GNI) 4,158 5,569 8,662 10,476 11,375 11,995 13,955 14,095
Exports of goods, services & income 2,325 3,541 3,782 4,322 5,161 5,590 5,782 4,273
Worker remit. & comp. of employees 229 653 892 1,784 1,946 2,144 2,180 1,924
Imports of goods, services & income 2,928 4,246 4,970 6,972 8,092 9,673 10,970 7,259
Profit remittances on FDI 189 230 290 454 376 533 376 232
Current account balance -312 -99 -367 -1,072 -1,183 -2,043 -3,038 ..
International reserves 168 681 1,054 2,170 2,318 1,879 1,773 2,080
6. Ratios
External debt stocks to exports (%) 204.8 129.4 124.9 151.1 156.2 186.4 178.7 256.5
External debt stocks to GNI (%) 114.5 82.3 54.5 62.3 70.8 86.9 74.0 77.8
Debt service to exports (%) 28.5 18.8 18.6 22.4 16.0 23.4 20.1 33.9
Short-term to external debt stocks (%) 7.3 10.7 16.8 9.4 13.7 14.8 12.2 9.6
Multilateral to external debt stocks (%) 24.7 26.9 25.8 20.4 16.1 12.1 12.9 13.9
Reserves to external debt stocks (%) 3.5 14.9 22.3 33.2 28.8 18.0 17.2 19.0
Reserves to imports (months) 0.7 1.9 2.5 3.7 3.4 2.3 1.9 3.4
166
JAMAICA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 469 105 0 0 0 0 0 0
Total amount forgiven 25 0 4 2 3 2 6 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 240 189 327 321 179 179 167 155
Interest 74 70 66 56 47 42 37 32
Private creditors
Principal 117 511 957 229 322 2,231 282 1,216
Interest 677 649 612 536 479 354 261 200
Notes:
Data on long-term private nonguaranteed debt are World Bank staff estimates based on information from market sources.
167
JORDAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 8,333 7,661 7,355 7,696 8,055 8,371 6,580 6,615
Long-term external debt 7,202 6,624 6,183 6,878 7,143 7,321 5,126 5,445
Public and publicly guaranteed 7,202 6,624 6,183 6,878 7,143 7,321 5,126 5,445
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 94 251 462 236 158 88 28 12
Short-term external debt 1,037 785 710 582 754 962 1,426 1,158
interest arrears on long-term 107 67 102 0 1 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 529 177 281 17 36 34 34 17
/RQJWHUPSXEOLFVHFWRUGHEW 7,202 6,624 6,148 6,790 7,000 7,172 4,978 5,306
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 35 88 142 150 148 139
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 749 1,259 384 337 159 220 427 811
External debt flows
Disbursements 691 724 196 434 277 190 230 762
Long-term external debt 691 609 176 434 277 190 230 762
IMF purchases 0 115 20 0 0 0 0 0
Principal repayments 252 337 424 418 441 486 2,471 421
Long-term external debt 242 329 393 341 353 409 2,412 405
IMF repurchases 10 8 31 77 88 76 59 16
Net flows 604 484 -399 97 7 -87 -1,777 73
Long-term external debt 449 280 -217 93 -76 -220 -2,182 357
Short-term external debt 165 97 -171 81 171 209 464 -268
Interest payments 377 263 315 198 249 284 232 164
Long-term external debt 310 209 239 160 196 227 200 147
IMF charges 9 10 24 10 10 7 3 0
Short-term external debt 58 43 52 27 42 49 29 17
2. Other non-debt resource inflows
Foreign direct investment 38 13 913 1,984 3,544 2,622 2,827 2,382
Portfolio equity 0 0 -17 169 144 346 521 -30
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 21.1 23.3 24.1 12.6 12.0
Japanese yen 5.8 25.6 27.5 20.1 18.3 17.8 29.9 25.9
Pound sterling 7.9 5.5 3.4 8.9 9.3 9.3 0.0 0.0
Swiss franc 0.8 0.5 0.4 1.1 0.7 0.7 0.3 0.3
U.S.dollars 45.7 28.9 29.3 26.4 25.9 25.3 24.8 31.1
4. Average terms of new commitments
Official creditors
Interest (%) 3.9 4.7 4.8 2.9 3.4 4.6 3.5 2.1
Maturity (years) 22.0 21.8 19.5 23.6 21.1 20.5 20.8 17.6
Grace period (years) 7.4 8.4 6.4 6.0 5.8 6.0 5.7 4.7
Private creditors
Interest (%) 8.9 0.0 0.0 0.0 0.2 0.0 0.0 0.0
Maturity (years) 7.0 0.0 0.0 0.0 34.3 0.0 0.0 0.0
Grace period (years) 1.0 0.0 0.0 0.0 11.3 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 3,805 6,449 8,596 13,037 15,420 17,813 22,168 23,399
Exports of goods, services & income 2,578 3,594 4,207 7,426 9,144 10,684 13,751 12,085
Worker remit. & comp. of employees 499 1,441 1,845 2,500 2,883 3,434 3,794 3,597
Imports of goods, services & income 3,850 5,297 6,363 12,314 13,810 16,421 19,867 16,858
Profit remittances on FDI 0 0 33 74 130 163 257 295
Current account balance -227 -259 27 -2,272 -1,726 -2,875 -2,177 -1,265
International reserves 1,139 2,279 3,441 5,461 6,982 7,925 8,918 12,135
6. Ratios
External debt stocks to exports (%) 323.2 213.1 174.8 103.6 88.1 78.4 47.9 54.7
External debt stocks to GNI (%) 219.0 118.8 85.6 59.0 52.2 47.0 29.7 28.3
Debt service to exports (%) 24.4 16.7 17.6 8.3 7.5 7.2 19.7 4.8
Short-term to external debt stocks (%) 12.4 10.2 9.7 7.6 9.4 11.5 21.7 17.5
Multilateral to external debt stocks (%) 10.6 15.5 23.2 24.8 24.3 23.7 29.7 35.7
Reserves to external debt stocks (%) 13.7 29.8 46.8 71.0 86.7 94.7 135.5 183.4
Reserves to imports (months) 3.5 5.2 6.5 5.3 6.1 5.8 5.4 8.6
168
JORDAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 350 365 194 220 208 196 0 0
Total amount forgiven 0 322 63 0 0 0 246 0
Debt buyback 0 0 85 0 0 0 2,038 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 485 499 478 452 440 438 390 365
Interest 130 124 116 105 94 83 73 64
Private creditors
Principal 16 17 17 16 10 11 12 13
Interest 15 14 14 13 12 12 11 11
169
KAZAKHSTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 3,750 12,433 43,478 72,443 95,542 107,278 109,873
Long-term external debt .. 2,937 11,472 35,327 61,569 84,388 96,958 101,197
Public and publicly guaranteed .. 2,834 3,623 2,177 2,136 1,698 1,915 2,487
Private nonguaranteed .. 103 7,849 33,150 59,433 82,690 95,043 98,710
Use of IMF credit .. 432 0 0 0 0 0 0
Short-term external debt .. 381 961 8,151 10,873 11,154 10,321 8,676
interest arrears on long-term .. 162 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. 2,834 3,619 2,157 2,130 1,698 1,915 2,487
/RQJWHUPSULYDWHVHFWRUGHEW .. 103 7,852 33,170 59,439 82,690 95,043 98,710
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 982 688 159 30 0 174 3,550
External debt flows
Disbursements .. 881 3,057 17,238 37,916 44,750 40,925 41,676
Long-term external debt .. 740 3,057 17,238 37,916 44,750 40,925 41,676
IMF purchases .. 141 0 0 0 0 0 0
Principal repayments .. 105 2,595 11,450 12,172 23,596 29,035 36,643
Long-term external debt .. 105 2,153 11,450 12,172 23,596 29,035 36,643
IMF repurchases .. 0 442 0 0 0 0 0
Net flows .. 868 1,057 9,996 28,466 21,434 11,057 3,389
Long-term external debt .. 635 904 5,787 25,744 21,154 11,890 5,033
Short-term external debt .. 93 595 4,209 2,722 281 -833 -1,645
Interest payments .. 130 775 1,730 2,303 3,575 4,391 4,044
Long-term external debt .. 102 713 1,526 1,953 3,537 4,117 3,740
IMF charges .. 17 11 0 0 0 0 0
Short-term external debt .. 10 51 204 350 38 274 304
2. Other non-debt resource inflows
Foreign direct investment .. 964 1,283 1,971 6,278 11,119 15,780 12,601
Portfolio equity .. .. 19 150 2,789 828 -1,280 131
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.9 2.1 2.6 1.9 1.4
Japanese yen .. 8.9 13.8 32.6 34.9 46.7 52.5 40.1
Pound sterling .. 0.0 0.6 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 6.9 61.2 53.9 53.5 46.8 42.1 55.9
4. Average terms of new commitments
Official creditors
Interest (%) .. 5.5 3.0 5.0 6.2 0.0 3.4 1.4
Maturity (years) .. 14.3 27.6 16.8 16.3 0.0 15.1 21.2
Grace period (years) .. 4.5 8.4 5.3 4.8 0.0 5.3 4.7
Private creditors
Interest (%) .. 6.4 11.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) .. 5.9 6.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) .. 2.3 5.6 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 20,229 17,038 51,427 71,551 91,767 113,878 97,263
Exports of goods, services & income .. 6,020 10,480 31,209 43,011 55,379 79,641 50,724
Worker remit. & comp. of employees .. 116 122 178 186 223 192 124
Imports of goods, services & income .. 6,292 10,362 31,852 43,803 61,541 72,377 53,229
Profit remittances on FDI .. 74 1,046 4,633 7,694 11,305 17,004 9,754
Current account balance .. -213 366 -1,056 -1,999 -8,322 6,279 -3,405
International reserves .. 1,660 2,099 7,070 19,127 17,641 19,883 23,183
6. Ratios
External debt stocks to exports (%) .. 62.3 118.6 139.3 168.4 172.5 134.7 216.6
External debt stocks to GNI (%) .. 18.5 73.0 84.5 101.2 104.1 94.2 113.0
Debt service to exports (%) .. 3.9 32.2 42.2 33.7 49.1 42.0 80.2
Short-term to external debt stocks (%) .. 10.2 7.7 18.7 15.0 11.7 9.6 7.9
Multilateral to external debt stocks (%) .. 10.4 11.9 2.0 1.1 0.7 0.7 1.2
Reserves to external debt stocks (%) .. 44.3 16.9 16.3 26.4 18.5 18.5 21.1
Reserves to imports (months) .. 3.2 2.4 2.7 5.2 3.4 3.3 5.2
170
KAZAKHSTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 143 158 301 426 441 332 302 300
Interest 49 49 49 48 50 51 48 45
Private creditors
Principal 26,171 18,245 13,176 7,307 10,454 6,913 5,879 8,839
Interest 3,249 2,500 1,875 1,432 1,032 733 489 256
Notes:
Long-term private nonguaranteed debt includes only registered private debt of the National Bank of Kazakhstan. Short-term debt is based on the National Bank
data from 2000.
171
KENYA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 7,055 7,309 6,141 6,421 6,552 7,376 7,427 8,005
Long-term external debt 5,639 6,302 5,216 5,763 5,797 6,143 6,266 6,543
Public and publicly guaranteed 4,759 5,857 5,041 5,763 5,797 6,143 6,266 6,543
Private nonguaranteed 880 445 175 0 0 0 0 0
Use of IMF credit 482 374 127 159 153 269 252 451
Short-term external debt 934 634 798 499 602 964 910 1,011
interest arrears on long-term 95 31 47 21 34 57 66 72
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 72 6 142 141 334 308 271 275
/RQJWHUPSXEOLFVHFWRUGHEW 4,759 5,857 5,041 5,763 5,797 6,143 6,266 6,543
/RQJWHUPSULYDWHVHFWRUGHEW 880 445 175 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 803 326 355 239 535 882 395 989
External debt flows
Disbursements 777 677 377 240 123 444 325 692
Long-term external debt 640 677 333 166 123 329 325 482
IMF purchases 136 0 44 74 0 115 0 209
Principal repayments 457 605 449 447 333 344 296 273
Long-term external debt 352 566 407 439 319 334 285 255
IMF repurchases 105 39 42 7 14 10 11 18
Net flows 613 78 -31 -460 -120 439 -34 513
Long-term external debt 288 111 -74 -273 -196 -5 40 227
Short-term external debt 294 6 41 -254 90 339 -63 95
Interest payments 333 299 142 91 94 108 112 109
Long-term external debt 230 261 100 72 70 77 90 83
IMF charges 26 2 1 1 1 1 1 2
Short-term external debt 78 36 41 18 23 29 21 23
2. Other non-debt resource inflows
Foreign direct investment 57 42 111 21 51 729 96 141
Portfolio equity 0 5 -6 3 2 0 5 3
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 19.1 19.0 19.7 16.8 17.4
Japanese yen 8.4 18.6 20.1 18.6 17.9 16.7 19.3 17.2
Pound sterling 8.7 3.8 2.5 0.6 0.7 0.6 0.4 0.4
Swiss franc 3.4 4.2 1.4 0.1 0.1 0.1 0.1 0.1
U.S.dollars 30.9 35.8 49.8 49.3 49.3 48.8 47.5 46.3
4. Average terms of new commitments
Official creditors
Interest (%) 3.1 2.1 1.1 1.3 1.8 1.4 1.3 1.2
Maturity (years) 29.6 35.7 39.0 35.5 33.3 39.1 30.6 36.7
Grace period (years) 8.4 9.8 10.0 8.4 8.9 9.7 8.3 9.4
Private creditors
Interest (%) 7.4 4.8 7.5 0.0 0.0 0.0 1.0 3.9
Maturity (years) 12.8 5.2 5.9 0.0 0.0 17.3 13.0 7.8
Grace period (years) 4.9 0.6 1.4 0.0 0.0 2.5 1.5 3.3
5. Major economic aggregates
Gross national income (GNI) 8,224 8,726 12,562 18,732 22,540 27,229 30,457 30,235
Exports of goods, services & income 2,233 3,580 2,821 5,416 6,045 7,223 8,467 7,588
Worker remit. & comp. of employees 139 298 538 805 1,128 1,588 1,692 1,686
Imports of goods, services & income 3,128 6,195 3,941 6,921 8,341 10,364 12,781 11,493
Profit remittances on FDI 132 116 29 35 39 124 52 66
Current account balance -527 -1,578 -199 -252 -510 -1,034 -1,978 ..
International reserves 236 384 898 1,799 2,416 3,355 2,879 3,850
6. Ratios
External debt stocks to exports (%) 315.9 204.2 217.7 118.6 108.4 102.1 87.7 105.5
External debt stocks to GNI (%) 85.8 83.8 48.9 34.3 29.1 27.1 24.4 26.5
Debt service to exports (%) 35.4 25.3 20.9 9.9 7.1 6.3 4.8 5.0
Short-term to external debt stocks (%) 13.2 8.7 13.0 7.8 9.2 13.1 12.2 12.6
Multilateral to external debt stocks (%) 35.3 39.7 46.2 53.4 52.5 48.6 49.6 48.2
Reserves to external debt stocks (%) 3.3 5.3 14.6 28.0 36.9 45.5 38.8 48.1
Reserves to imports (months) 0.9 0.7 2.7 3.1 3.5 3.9 2.7 4.0
172
KENYA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 122 127 137 0 0 0
Total amount forgiven 97 0 10 3 16 0 0 5
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 295 323 338 344 332 347 360 380
Interest 91 92 90 86 81 77 71 65
Private creditors
Principal 19 10 10 12 12 8 7 7
Interest 1 1 1 1 1 1 0 0
173
KOSOVO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. .. .. .. .. .. .. 358.5
Long-term external debt .. .. .. .. .. .. .. 358.5
Public and publicly guaranteed .. .. .. .. .. .. .. 358.5
Private nonguaranteed .. .. .. .. .. .. .. 0.0
Use of IMF credit .. .. .. .. .. .. .. 0.0
Short-term external debt .. .. .. .. .. .. .. 0.0
interest arrears on long-term .. .. .. .. .. .. .. 0.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. .. .. .. .. .. .. 0.0
/RQJWHUPSXEOLFVHFWRUGHEW .. .. .. .. .. .. .. 358.5
/RQJWHUPSULYDWHVHFWRUGHEW .. .. .. .. .. .. .. 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. .. .. .. .. .. .. 0.0
External debt flows
Disbursements .. .. .. .. .. .. .. 0.0
Long-term external debt .. .. .. .. .. .. .. 0.0
IMF purchases .. .. .. .. .. .. .. 0.0
Principal repayments .. .. .. .. .. .. .. 207.7
Long-term external debt .. .. .. .. .. .. .. 207.7
IMF repurchases .. .. .. .. .. .. .. 0.0
Net flows .. .. .. .. .. .. .. -207.7
Long-term external debt .. .. .. .. .. .. .. -207.7
Short-term external debt .. .. .. .. .. .. .. 0.0
Interest payments .. .. .. .. .. .. .. 22.5
Long-term external debt .. .. .. .. .. .. .. 22.5
IMF charges .. .. .. .. .. .. .. 0.0
Short-term external debt .. .. .. .. .. .. .. 0.0
2. Other non-debt resource inflows
Foreign direct investment .. .. .. .. .. .. 525.0 425.7
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. .. .. .. .. 0.0
Japanese yen .. .. .. .. .. .. .. 0.0
Pound sterling .. .. .. .. .. .. .. 0.0
Swiss franc .. .. .. .. .. .. .. 0.0
U.S.dollars .. .. .. .. .. .. .. 100.0
4. Average terms of new commitments
Official creditors
Interest (%) .. .. .. .. .. .. .. 0.0
Maturity (years) .. .. .. .. .. .. .. 0.0
Grace period (years) .. .. .. .. .. .. .. 0.0
Private creditors
Interest (%) .. .. .. .. .. .. .. 0.0
Maturity (years) .. .. .. .. .. .. .. 0.0
Grace period (years) .. .. .. .. .. .. .. 0.0
5. Major economic aggregates
Gross national income (GNI) .. .. .. .. .. 4926.7 5883.6 5583.3
Exports of goods, services & income .. .. .. .. .. .. .. 1105.1
Worker remit. & comp. of employees .. .. .. .. .. .. .. ..
Imports of goods, services & income .. .. .. .. .. 2441.2 3098.6 2335.3
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. .. .. .. .. .. ..
International reserves .. .. .. .. .. 951.7 892.1 830.2
6. Ratios
External debt stocks to exports (%) .. .. .. .. .. .. .. 32.4
External debt stocks to GNI (%) .. .. .. .. .. .. .. 6.4
Debt service to exports (%) .. .. .. .. .. .. .. 20.8
Short-term to external debt stocks (%) .. .. .. .. .. .. .. ..
Multilateral to external debt stocks (%) .. .. .. .. .. .. .. 100.0
Reserves to external debt stocks (%) .. .. .. .. .. .. .. 231.6
Reserves to imports (months) .. .. .. .. .. 4.7 3.5 4.3
174
KOSOVO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. .. .. .. .. .. .. 0.0
Total amount forgiven .. .. .. .. .. .. .. 0.0
Debt buyback .. .. .. .. .. .. .. 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 16.3 16.3 16.3 16.3 16.3 16.3 16.3 16.3
Interest 4.8 4.6 4.3 4.1 3.9 3.7 3.5 3.2
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Kosovo became a World Bank member on June 29, 2009. Since 1999, Kosovo has been a territory under international administration pursuant to UN Security
Council Resolution 1244 (1999).
175
KYRGYZ REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 609 1,827 2,027 2,373 2,504 2,466 2,900
Long-term external debt .. 472 1,510 1,825 2,101 2,278 2,269 2,652
Public and publicly guaranteed .. 472 1,220 1,665 1,831 1,898 1,963 2,320
Private nonguaranteed .. 0 290 161 270 380 307 332
Use of IMF credit .. 124 188 178 163 150 165 167
Short-term external debt .. 13 129 24 109 76 32 81
interest arrears on long-term .. 11 10 3 5 7 6 2
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 11 28 6 6 9 11 2
/RQJWHUPSXEOLFVHFWRUGHEW .. 472 1,220 1,665 1,831 1,898 1,963 2,320
/RQJWHUPSULYDWHVHFWRUGHEW .. 0 290 161 270 380 307 332
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 164 201 86 16 46 96 609
External debt flows
Disbursements .. 201 180 151 243 281 245 691
Long-term external debt .. 155 161 133 239 277 203 665
IMF purchases .. 46 19 18 4 4 42 26
Principal repayments .. 36 97 104 65 151 285 322
Long-term external debt .. 36 86 74 38 126 261 296
IMF repurchases .. 0 11 31 27 25 23 26
Net flows .. 165 152 63 261 95 -82 422
Long-term external debt .. 119 75 59 202 151 -58 369
Short-term external debt .. 0 69 17 83 -35 -43 53
Interest payments .. 24 76 23 22 27 44 39
Long-term external debt .. 20 69 21 19 23 42 35
IMF charges .. 4 2 1 1 1 1 1
Short-term external debt .. 0 5 0 2 3 1 3
2. Other non-debt resource inflows
Foreign direct investment .. 96 -2 43 182 208 377 189
Portfolio equity .. .. 0 0 0 1 6 1
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.8 3.5 4.3 4.0 3.5
Japanese yen .. 14.3 15.0 13.5 12.5 12.7 15.5 13.0
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 1.3 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 51.4 67.9 69.5 67.0 68.0 65.3 69.2
4. Average terms of new commitments
Official creditors
Interest (%) .. 3.7 1.0 1.0 1.4 0.5 1.6 1.3
Maturity (years) .. 28.4 35.8 36.2 31.6 26.7 21.7 31.5
Grace period (years) .. 8.1 9.5 9.3 8.1 7.3 5.9 6.5
Private creditors
Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 1,626 1,288 2,372 2,786 3,750 5,037 4,410
Exports of goods, services & income .. 452 590 963 1,326 2,064 2,785 2,582
Worker remit. & comp. of employees .. 1 9 322 481 715 1,232 882
Imports of goods, services & income .. 765 753 1,499 2,338 3,313 4,892 3,892
Profit remittances on FDI .. .. 37 36 40 40 173 126
Current account balance .. -235 -76 -35 -282 -228 -631 ..
International reserves .. 134 262 612 817 1,177 1,225 1,584
6. Ratios
External debt stocks to exports (%) .. 134.9 309.8 210.6 178.9 121.3 88.5 112.3
External debt stocks to GNI (%) .. 37.5 141.9 85.5 85.2 66.8 49.0 65.8
Debt service to exports (%) .. 13.3 29.4 13.2 6.6 8.6 11.8 14.0
Short-term to external debt stocks (%) .. 2.1 7.1 1.2 4.6 3.0 1.3 2.8
Multilateral to external debt stocks (%) .. 30.3 39.5 54.2 50.1 51.1 52.3 45.2
Reserves to external debt stocks (%) .. 21.9 14.3 30.2 34.4 47.0 49.7 54.6
Reserves to imports (months) .. 2.1 4.2 4.9 4.2 4.3 3.0 4.9
176
KYRGYZ REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 32 520 7 7 15 16
Total amount forgiven .. 0 0 17 0 8 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 57 58 59 64 73 90 101 105
Interest 34 35 35 35 34 34 32 32
Private creditors
Principal 93 34 42 34 33 33 32 30
Interest 5 5 5 4 4 4 4 4
Notes:
Long-term private nonguaranteed debt data for 2009 are World Bank staff estimates.
177
LAO PEOPLE'S DEMOCRATIC REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,766 2,155 2,501 2,844 3,377 4,388 4,955 5,539
Long-term external debt 1,757 2,091 2,459 2,815 3,350 4,362 4,934 5,523
Public and publicly guaranteed 1,757 2,091 2,459 1,989 2,259 2,515 2,720 2,923
Private nonguaranteed 0 0 0 825 1,090 1,847 2,213 2,601
Use of IMF credit 8 64 42 29 27 26 21 16
Short-term external debt 0 0 0 0 0 0 0 0
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1 0 1 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 1,757 2,091 2,459 1,989 2,259 2,515 2,720 2,923
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 825 1,090 1,847 2,213 2,601
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 125 110 68 76 16 210 13 123
External debt flows
Disbursements 152 110 77 472 491 1,058 629 695
Long-term external debt 152 92 77 472 491 1,058 629 695
IMF purchases 0 18 0 0 0 0 0 0
Principal repayments 6 19 31 85 134 135 137 165
Long-term external debt 5 17 23 79 130 132 132 159
IMF repurchases 1 2 8 6 3 3 4 6
Net flows 146 91 47 386 357 923 492 529
Long-term external debt 146 75 55 392 361 926 497 535
Short-term external debt 0 0 0 0 0 0 0 0
Interest payments 3 6 9 47 48 55 67 77
Long-term external debt 3 6 9 47 48 54 67 77
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 0 0 0 0 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment 6 95 34 28 187 324 228 190
Portfolio equity 0 0 .. 0 0 0 .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 0.0 0.0 0.0 0.0 0.0
Japanese yen 1.5 1.1 0.4 0.1 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 7.1 13.1 18.4 46.7 52.4 54.7 56.4 59.4
4. Average terms of new commitments
Official creditors
Interest (%) 0.9 2.5 1.4 3.6 1.4 1.3 1.1 1.5
Maturity (years) 39.9 37.1 31.6 27.9 24.9 26.1 29.1 20.2
Grace period (years) 10.0 9.7 8.1 7.9 8.7 9.6 8.0 5.3
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 866 1,758 1,664 2,584 3,315 4,146 5,283 5,799
Exports of goods, services & income 105 415 513 763 1,122 1,245 .. ..
Worker remit. & comp. of employees 11 22 1 1 1 1 1 1
Imports of goods, services & income 215 761 638 1,022 1,199 1,235 .. ..
Profit remittances on FDI 0 6 .. .. .. .. .. ..
Current account balance -55 -237 -8 -193 50 107 .. ..
International reserves 8 99 144 309 462 708 875 1,010
6. Ratios
External debt stocks to exports (%) 1,688.4 519.1 487.3 373.0 301.1 352.6 .. ..
External debt stocks to GNI (%) 204.0 122.6 150.3 110.1 101.9 105.8 93.8 95.5
Debt service to exports (%) 8.5 6.1 7.8 17.3 16.2 15.2 .. ..
Short-term to external debt stocks (%) 0.0 .. 0.0 .. .. .. .. ..
Multilateral to external debt stocks (%) 15.1 28.8 41.6 53.6 49.6 42.1 39.7 36.2
Reserves to external debt stocks (%) 0.5 4.6 5.7 10.9 13.7 16.1 17.7 18.2
Reserves to imports (months) 0.5 1.6 2.7 3.6 4.6 6.9 .. ..
178
LAO PEOPLE'S DEMOCRATIC REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 86 95 102 107 114 115 120 133
Interest 32 31 31 30 29 28 27 28
Private creditors
Principal 702 494 442 260 208 156 130 104
Interest 114 84 58 42 30 20 12 6
Notes:
Data on long-term public and publicly guaranteed debt are World Bank staff estimates based on reports provided by the country. Long-term private
nonguaranteed debt data are World Bank staff estimates.
179
LEBANON
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,787 2,974 10,244 23,326 25,107 25,625 24,292 24,864
Long-term external debt 366 1,609 7,704 19,876 20,907 21,426 21,037 21,649
Public and publicly guaranteed 366 1,559 6,968 18,865 20,102 20,896 20,567 20,979
Private nonguaranteed 0 50 736 1,011 805 530 470 670
Use of IMF credit 0 0 0 0 0 80 117 119
Short-term external debt 1,421 1,365 2,541 3,450 4,200 4,118 3,138 3,096
interest arrears on long-term 39 10 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 132 43 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 366 1,559 6,942 18,865 20,102 20,896 20,567 20,979
/RQJWHUPSULYDWHVHFWRUGHEW 0 50 762 1,011 805 530 470 670
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 0 1,553 2,188 2,991 3,704 3,319 2,519 2,964
External debt flows
Disbursements 12 907 2,445 3,178 3,814 3,449 2,731 3,326
Long-term external debt 12 907 2,445 3,178 3,814 3,372 2,690 3,326
IMF purchases 0 0 0 0 0 78 40 0
Principal repayments 27 104 884 2,172 3,004 3,078 2,905 2,694
Long-term external debt 27 104 884 2,172 3,004 3,078 2,905 2,694
IMF repurchases 0 0 0 0 0 0 0 0
Net flows 726 829 1,900 485 1,560 289 -1,154 589
Long-term external debt -16 803 1,561 1,006 810 293 -214 631
Short-term external debt 742 26 339 -521 750 -82 -980 -42
Interest payments 72 121 607 1,462 1,516 1,646 1,602 1,548
Long-term external debt 11 55 475 1,287 1,316 1,430 1,442 1,407
IMF charges 0 0 0 0 0 2 3 2
Short-term external debt 61 67 132 175 200 213 157 139
2. Other non-debt resource inflows
Foreign direct investment .. .. .. 2,624 2,675 3,376 4,333 4,804
Portfolio equity .. .. .. 1,436 551 791 466 929
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.9 9.9 9.6 9.5 8.9
Japanese yen 0.5 0.0 0.1 0.1 0.1 0.2 0.3 0.3
Pound sterling 0.7 0.1 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 40.0 68.8 67.9 85.7 85.4 85.9 86.5 87.2
4. Average terms of new commitments
Official creditors
Interest (%) 0.0 5.4 7.5 4.7 4.4 4.5 4.4 2.0
Maturity (years) 0.0 18.7 14.7 19.0 21.7 18.6 13.6 29.0
Grace period (years) 0.0 4.4 5.2 4.1 6.3 7.1 3.6 7.0
Private creditors
Interest (%) 0.0 8.8 9.1 7.4 7.6 6.1 8.9 7.9
Maturity (years) 0.0 7.9 4.9 5.7 10.3 7.5 5.8 6.8
Grace period (years) 0.0 4.6 4.7 5.4 10.2 4.9 5.8 6.8
5. Major economic aggregates
Gross national income (GNI) 3,461 12,211 17,581 21,674 22,622 25,789 29,791 35,172
Exports of goods, services & income .. .. .. 15,242 17,250 19,914 25,548 23,613
Worker remit. & comp. of employees 1,818 1,225 1,582 4,924 5,202 5,769 7,181 7,558
Imports of goods, services & income .. .. .. 19,053 20,335 24,287 32,011 32,995
Profit remittances on FDI .. .. .. 95 96 64 121 95
Current account balance .. .. .. -2,748 -1,116 -1,605 -4,103 -7,555
International reserves 4,210 8,100 8,475 16,618 19,239 20,599 28,265 39,132
6. Ratios
External debt stocks to exports (%) .. .. .. 153.0 145.5 128.7 95.1 105.3
External debt stocks to GNI (%) 51.6 24.4 58.3 107.6 111.0 99.4 81.5 70.7
Debt service to exports (%) .. .. .. 23.8 26.2 23.7 17.6 18.0
Short-term to external debt stocks (%) 79.5 45.9 24.8 14.8 16.7 16.1 12.9 12.5
Multilateral to external debt stocks (%) 5.2 6.9 8.7 5.1 5.2 5.6 5.4 5.2
Reserves to external debt stocks (%) 235.6 272.3 82.7 71.2 76.6 80.4 116.4 157.4
Reserves to imports (months) .. .. .. 10.5 11.4 10.2 10.6 14.2
180
LEBANON
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 437 459 430 314 314 253 234 223
Interest 100 97 89 80 70 61 51 42
Private creditors
Principal 2,884 2,624 3,523 1,955 1,988 1,179 1,579 1,929
Interest 1,340 1,187 1,031 783 632 542 419 278
Notes:
Long-term private nonguaranteed debt data only cover Bonds.
181
LESOTHO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 395.6 684.4 671.8 662.0 649.9 677.6 688.8 705.3
Long-term external debt 377.7 642.0 656.7 618.9 613.5 642.2 659.2 681.1
Public and publicly guaranteed 377.7 642.0 656.7 618.9 613.5 642.2 659.2 681.1
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 15.1 38.4 11.1 35.0 36.3 35.4 29.7 24.1
Short-term external debt 2.8 4.0 4.0 8.0 0.1 0.0 0.0 0.0
interest arrears on long-term 0.8 0.0 0.0 0.0 0.1 0.0 0.0 0.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
/RQJWHUPSXEOLFVHFWRUGHEW 376.5 641.3 656.4 618.9 613.5 642.2 659.2 681.1
/RQJWHUPSULYDWHVHFWRUGHEW 1.2 0.7 0.3 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 46.4 67.4 33.9 15.0 21.5 61.2 41.5 36.2
External debt flows
Disbursements 62.0 70.4 69.4 21.1 28.6 38.3 45.8 37.4
Long-term external debt 57.9 70.4 69.4 21.1 28.6 38.3 45.8 37.4
IMF purchases 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments 15.0 24.7 38.3 65.3 36.1 33.8 29.5 30.1
Long-term external debt 14.8 22.0 33.2 65.3 35.6 31.1 24.5 24.2
IMF repurchases 0.2 2.7 5.2 0.0 0.5 2.7 5.0 5.9
Net flows 47.0 45.7 31.0 -43.2 -15.5 4.5 16.3 7.3
Long-term external debt 43.1 48.4 36.2 -44.2 -7.0 7.2 21.3 13.2
Short-term external debt 0.0 0.0 0.0 1.0 -8.0 0.0 0.0 0.0
Interest payments 8.3 16.1 23.2 14.2 9.6 64.5 8.0 7.6
Long-term external debt 8.0 15.7 22.9 13.7 9.2 64.3 7.8 7.4
IMF charges 0.1 0.2 0.0 0.2 0.2 0.2 0.2 0.1
Short-term external debt 0.2 0.2 0.2 0.3 0.2 0.0 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 17.1 275.3 117.8 92.6 113.0 130.3 218.0 ..
Portfolio equity 0.0 .. .. 0.0 0.0 .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 9.8 9.8 9.2 7.5 6.8
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 1.7 0.8 1.8 0.9 0.7 0.5 0.4 0.4
Swiss franc 0.0 0.0 1.9 0.2 0.0 0.0 0.0 0.0
U.S.dollars 24.8 22.1 26.9 39.3 41.8 43.2 43.8 43.6
4. Average terms of new commitments
Official creditors
Interest (%) 1.0 5.9 0.3 1.7 0.8 3.2 1.7 1.0
Maturity (years) 25.1 27.5 19.3 31.0 38.1 31.0 23.9 40.9
Grace period (years) 6.2 5.7 5.4 8.5 10.3 7.8 6.3 9.3
Private creditors
Interest (%) 8.4 6.5 4.6 0.0 0.0 0.0 0.0 0.0
Maturity (years) 5.9 17.9 2.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 1.8 4.1 0.5 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 937.4 1227.5 1010.8 1680.0 1897.7 2087.5 2045.5 2123.9
Exports of goods, services & income 555.0 670.6 542.5 1072.2 1165.5 1406.4 1486.4 1273.8
Worker remit. & comp. of employees 427.9 410.5 252.2 326.6 361.5 451.2 438.6 491.0
Imports of goods, services & income 775.9 1203.8 832.8 1474.8 1488.6 1811.7 1757.8 1799.5
Profit remittances on FDI 12.7 71.4 15.0 10.7 11.6 12.9 8.5 ..
Current account balance 65.0 -323.0 -151.4 -102.0 66.3 219.8 244.2 ..
International reserves 72.4 456.7 417.9 519.1 658.4 .. .. ..
6. Ratios
External debt stocks to exports (%) 71.3 102.1 123.8 61.7 55.8 48.2 46.3 55.4
External debt stocks to GNI (%) 42.2 55.8 66.5 39.4 34.2 32.5 33.7 33.2
Debt service to exports (%) 4.2 6.1 11.3 7.4 3.9 7.0 2.5 3.0
Short-term to external debt stocks (%) 0.7 0.6 0.6 1.2 0.0 .. .. 0.0
Multilateral to external debt stocks (%) 73.6 68.2 70.8 78.3 84.4 86.8 87.1 86.1
Reserves to external debt stocks (%) 18.3 66.7 62.2 78.4 101.3 .. .. ..
Reserves to imports (months) 1.1 4.6 6.0 4.2 5.3 .. .. ..
182
LESOTHO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 3.7 0.0 0.0 0.0 18.3 5.9 1.4 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 24.1 25.2 26.9 28.9 29.1 27.5 27.1 28.3
Interest 6.7 6.8 6.8 6.7 6.4 6.0 5.7 5.5
Private creditors
Principal 0.8 0.2 0.2 0.2 0.2 7.4 0.2 0.2
Interest 1.2 1.1 1.1 1.1 1.1 1.1 0.1 0.1
Notes:
Large interest payment was made during 2007 to a creditor country to settle a long standing claim.
183
LIBERIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,056 2,466 2,809 3,921 4,160 3,745 3,128 1,660
Long-term external debt 1,119 1,153 1,104 1,179 1,204 1,034 865 677
Public and publicly guaranteed 1,119 1,153 1,104 1,179 1,204 1,034 865 677
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 322 336 292 320 336 352 858 891
Short-term external debt 615 978 1,413 2,422 2,621 2,359 1,405 92
interest arrears on long-term 559 934 1,413 2,422 2,621 2,359 1,405 92
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 722 961 1,127 1,307 1,385 1,289 425 252
/RQJWHUPSXEOLFVHFWRUGHEW 1,119 1,153 1,104 1,179 1,204 1,034 865 677
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 30 0 0 0 0 0 0 0
External debt flows
Disbursements 0 0 0 0 0 0 881 18
Long-term external debt 0 0 0 0 0 0 0 0
IMF purchases 0 0 0 0 0 0 881 18
Principal repayments 2 0 1 0 1 261 389 36
Long-term external debt 1 0 0 0 0 261 37 36
IMF repurchases 1 0 1 0 1 1 352 0
Net flows -1 0 -1 0 -1 -261 491 -19
Long-term external debt -1 0 0 0 0 -261 -37 -36
Short-term external debt 1 0 0 0 0 0 0 0
Interest payments 1 2 0 1 0 381 545 28
Long-term external debt 1 0 0 0 0 381 69 17
IMF charges 0 2 0 1 0 0 476 11
Short-term external debt 0 0 0 0 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment 225 5 21 83 108 132 144 378
Portfolio equity .. .. .. 0 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 11.6 12.7 16.5 2.4 2.6
Japanese yen 6.1 7.7 7.2 6.6 6.4 7.8 8.2 0.0
Pound sterling 1.2 1.2 1.2 1.2 1.2 0.9 0.8 0.9
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 51.0 48.8 56.8 53.7 52.8 64.8 82.7 89.0
4. Average terms of new commitments
Official creditors
Interest (%) 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 24.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. .. 389 417 444 560 673 645
Exports of goods, services & income .. .. .. 355 509 562 657 ..
Worker remit. & comp. of employees .. .. .. 32 79 62 58 55
Imports of goods, services & income .. .. .. 1,318 1,882 1,917 3,020 ..
Profit remittances on FDI .. .. .. 7 14 15 23 ..
Current account balance .. .. .. -184 -173 -216 -1,187 ..
International reserves .. 28 0 25 72 119 161 ..
6. Ratios
External debt stocks to exports (%) .. .. .. 1,105.3 816.6 666.1 476.1 ..
External debt stocks to GNI (%) .. .. 723.0 939.7 937.2 668.9 465.0 257.5
Debt service to exports (%) .. .. .. 0.3 0.2 114.2 142.2 ..
Short-term to external debt stocks (%) 29.9 39.6 50.3 61.8 63.0 63.0 44.9 5.5
Multilateral to external debt stocks (%) 21.1 18.4 14.1 11.2 10.8 5.1 5.0 9.3
Reserves to external debt stocks (%) .. 1.1 0.0 0.6 1.7 3.2 5.1 ..
Reserves to imports (months) .. .. .. 0.2 0.5 0.7 0.6 ..
184
LIBERIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 295 3
Total amount forgiven 0 0 0 0 0 0 637 1,446
Debt buyback 0 0 0 0 0 0 0 32
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 10 10 10 8 16 14 13 13
Interest 2 7 7 7 7 6 6 6
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data on long-term public and publicly guaranteed debt are revised based on the original terms of the loans and reports provided by Paris Club. Data include the
effects of Paris Club rescheduling agreement signed in 2008.
185
LITHUANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 769 4,723 11,422 18,559 29,430 31,776 31,717
Long-term external debt .. 459 3,417 6,097 12,853 21,667 23,602 25,767
Public and publicly guaranteed .. 430 2,206 1,991 4,577 5,866 5,335 9,059
Private nonguaranteed .. 29 1,211 4,107 8,277 15,800 18,267 16,708
Use of IMF credit .. 262 192 0 0 0 0 0
Short-term external debt .. 49 1,114 5,325 5,706 7,763 8,174 5,949
interest arrears on long-term .. 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. 424 2,128 1,968 4,563 5,858 5,331 9,059
/RQJWHUPSULYDWHVHFWRUGHEW .. 34 1,290 4,130 8,290 15,809 18,271 16,708
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 422 828 0 2,513 822 110 4,458
External debt flows
Disbursements .. 219 1,165 2,863 9,400 14,462 11,074 7,280
Long-term external debt .. 157 1,165 2,863 9,400 14,462 11,074 7,280
IMF purchases .. 63 0 0 0 0 0 0
Principal repayments .. 12 826 2,277 3,737 7,715 8,342 5,765
Long-term external debt .. 12 799 2,252 3,737 7,715 8,342 5,765
IMF repurchases .. 0 27 25 0 0 0 0
Net flows .. 228 383 2,145 6,044 8,805 3,143 -710
Long-term external debt .. 144 366 611 5,663 6,747 2,732 1,515
Short-term external debt .. 20 44 1,559 381 2,057 411 -2,225
Interest payments .. 31 281 323 436 748 1,042 763
Long-term external debt .. 17 215 173 275 529 797 585
IMF charges .. 12 11 0 0 0 0 0
Short-term external debt .. 2 55 150 161 219 245 178
2. Other non-debt resource inflows
Foreign direct investment .. 73 379 1,032 1,840 2,017 1,770 307
Portfolio equity .. 6 122 130 72 -166 113 -106
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 80.9 96.4 98.3 98.4 82.7
Japanese yen .. 9.8 2.9 0.0 0.0 0.0 0.0 0.0
Pound sterling .. 0.0 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 3.2 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 34.4 32.9 17.9 3.2 1.5 1.4 17.3
4. Average terms of new commitments
Official creditors
Interest (%) .. 6.3 7.1 0.0 1.6 0.0 0.0 4.1
Maturity (years) .. 14.6 13.3 0.0 4.0 0.0 0.0 23.7
Grace period (years) .. 4.4 7.8 0.0 1.0 0.0 0.0 6.9
Private creditors
Interest (%) .. 8.1 7.8 0.0 4.8 4.9 5.5 7.7
Maturity (years) .. 5.4 5.0 0.0 8.1 10.3 13.0 5.7
Grace period (years) .. 1.2 4.8 0.0 8.1 10.3 1.0 4.7
5. Major economic aggregates
Gross national income (GNI) .. 7,892 11,240 25,339 29,270 37,491 45,577 37,203
Exports of goods, services & income .. 3,242 5,295 15,327 18,364 21,980 29,625 21,026
Worker remit. & comp. of employees .. 1 50 534 994 1,433 1,460 1,168
Imports of goods, services & income .. 3,966 6,212 17,820 22,307 28,836 36,329 21,057
Profit remittances on FDI .. 8 123 711 878 1,423 1,016 725
Current account balance .. -614 -675 -1,831 -3,218 -5,692 -5,627 1,492
International reserves .. 829 1,363 3,816 5,773 7,721 6,442 6,657
6. Ratios
External debt stocks to exports (%) .. 23.7 89.2 74.5 101.1 133.9 107.3 150.8
External debt stocks to GNI (%) .. 9.8 42.0 45.1 63.4 78.5 69.7 85.3
Debt service to exports (%) .. 1.3 20.9 17.0 22.7 38.5 31.7 31.0
Short-term to external debt stocks (%) .. 6.4 23.6 46.6 30.7 26.4 25.7 18.8
Multilateral to external debt stocks (%) .. 21.1 9.5 2.6 1.6 0.8 0.6 3.9
Reserves to external debt stocks (%) .. 107.7 28.9 33.4 31.1 26.2 20.3 21.0
Reserves to imports (months) .. 2.5 2.6 2.6 3.1 3.2 2.1 3.8
186
LITHUANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 27 21 20 20 20 38 131 129
Interest 31 35 36 37 37 37 36 34
Private creditors
Principal 4,537 3,200 4,333 3,163 2,125 2,554 2,276 668
Interest 1,033 893 747 574 437 263 167 80
Notes:
Short-term debt data are based on government statistics.
187
MACEDONIA, FORMER YUGOSLAV REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 1,277 1,469 2,971 3,284 4,161 4,690 5,589
Long-term external debt .. 1,078 1,333 2,109 2,362 2,564 3,018 3,689
Public and publicly guaranteed .. 788 1,206 1,638 1,556 1,520 1,574 1,874
Private nonguaranteed .. 289 127 471 805 1,044 1,443 1,816
Use of IMF credit .. 57 81 62 56 0 0 0
Short-term external debt .. 143 55 800 867 1,597 1,672 1,900
interest arrears on long-term .. 143 4 9 15 28 33 31
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 216 19 36 49 108 127 116
/RQJWHUPSXEOLFVHFWRUGHEW .. 785 1,201 1,636 1,555 1,519 1,574 1,873
/RQJWHUPSULYDWHVHFWRUGHEW .. 293 132 473 807 1,044 1,444 1,816
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 206 123 274 137 103 155 410
External debt flows
Disbursements .. 112 155 334 399 538 796 884
Long-term external debt .. 75 151 318 399 538 796 884
IMF purchases .. 38 4 16 0 0 0 0
Principal repayments .. 20 93 182 439 542 295 374
Long-term external debt .. 19 74 171 430 485 295 374
IMF repurchases .. 1 19 11 10 57 0 0
Net flows .. 74 59 118 22 713 571 739
Long-term external debt .. 56 78 147 -30 52 501 510
Short-term external debt .. -18 -3 -34 61 717 69 230
Interest payments .. 11 45 92 124 163 182 177
Long-term external debt .. 9 37 54 82 88 105 93
IMF charges .. 2 3 1 2 1 0 0
Short-term external debt .. 1 5 37 40 74 77 84
2. Other non-debt resource inflows
Foreign direct investment .. 9 215 97 424 699 587 248
Portfolio equity .. .. 0 54 86 170 -49 -14
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 40.9 52.3 63.0 64.0 69.6
Japanese yen .. 6.5 0.4 0.2 0.5 1.4 3.0 3.6
Pound sterling .. 1.1 0.2 0.1 0.1 0.0 0.0 0.0
Swiss franc .. 0.9 2.4 0.6 0.5 0.1 0.0 0.0
U.S.dollars .. 49.7 71.8 56.6 44.8 34.3 31.8 25.8
4. Average terms of new commitments
Official creditors
Interest (%) .. 3.8 5.5 3.1 3.7 5.0 5.2 2.0
Maturity (years) .. 23.0 19.5 16.7 16.8 17.0 17.4 15.3
Grace period (years) .. 6.7 6.4 5.1 5.4 5.0 4.6 4.7
Private creditors
Interest (%) .. 2.3 9.2 4.6 5.8 0.0 1.8 9.9
Maturity (years) .. 29.7 3.4 10.0 16.3 0.0 4.3 3.5
Grace period (years) .. 10.9 0.5 9.9 3.9 0.0 0.1 3.5
5. Major economic aggregates
Gross national income (GNI) .. 4,410 3,541 5,756 6,359 7,787 9,427 8,990
Exports of goods, services & income .. .. 1,679 2,653 3,132 4,381 5,255 3,726
Worker remit. & comp. of employees .. .. 81 227 267 345 407 401
Imports of goods, services & income .. .. 2,386 3,864 4,426 6,007 7,913 5,971
Profit remittances on FDI .. .. 31 142 59 470 253 184
Current account balance .. .. -98 -158 -56 -247 -1,210 ..
International reserves .. 275 460 1,340 1,889 2,264 2,110 2,288
6. Ratios
External debt stocks to exports (%) .. .. 87.5 112.0 104.9 95.0 89.2 150.0
External debt stocks to GNI (%) .. 29.0 41.5 51.6 51.7 53.4 49.7 62.2
Debt service to exports (%) .. .. 8.2 10.3 18.0 16.1 9.1 14.8
Short-term to external debt stocks (%) .. 11.2 3.7 26.9 26.4 38.4 35.6 34.0
Multilateral to external debt stocks (%) .. 22.6 38.8 30.8 31.3 25.0 22.3 19.3
Reserves to external debt stocks (%) .. 21.5 31.3 45.1 57.5 54.4 45.0 40.9
Reserves to imports (months) .. .. 2.3 4.2 5.1 4.5 3.2 4.6
188
MACEDONIA, FYR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 256 44 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 136 112 109 113 119 116 113 106
Interest 24 22 20 19 17 15 13 11
Private creditors
Principal 400 311 288 402 104 277 109 93
Interest 141 122 116 53 44 41 31 22
Notes:
Short-term debt is based on Central Bank data from 2004.
189
MADAGASCAR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 3,689 4,302 4,691 3,494 1,492 1,707 2,086 2,213
Long-term external debt 3,320 3,687 4,286 3,182 1,242 1,411 1,732 1,851
Public and publicly guaranteed 3,320 3,687 4,286 3,182 1,242 1,411 1,727 1,846
Private nonguaranteed 0 0 0 0 0 0 4 4
Use of IMF credit 144 73 104 212 29 43 99 101
Short-term external debt 225 542 301 99 221 254 255 262
interest arrears on long-term 126 486 203 72 186 189 188 189
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 266 1,194 665 218 223 196 197 196
/RQJWHUPSXEOLFVHFWRUGHEW 3,244 3,555 4,164 3,136 1,238 1,407 1,725 1,845
/RQJWHUPSULYDWHVHFWRUGHEW 76 133 122 46 4 3 7 6
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 211 80 187 295 284 192 506 83
External debt flows
Disbursements 231 90 200 265 291 273 394 120
Long-term external debt 213 90 150 249 280 261 335 120
IMF purchases 17 0 50 17 12 12 59 0
Principal repayments 121 38 79 48 36 9 14 29
Long-term external debt 69 24 74 38 36 9 14 29
IMF repurchases 51 15 5 10 0 0 0 0
Net flows 194 59 45 244 263 294 382 98
Long-term external debt 144 66 76 211 243 252 321 92
Short-term external debt 83 7 -76 27 8 30 2 6
Interest payments 102 20 38 30 23 13 12 17
Long-term external debt 85 16 28 28 21 10 11 15
IMF charges 10 0 0 1 0 0 0 0
Short-term external debt 7 3 9 1 2 3 1 1
2. Other non-debt resource inflows
Foreign direct investment 22 10 83 85 294 777 1,112 1,384
Portfolio equity 0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.3 5.8 3.0 2.9 3.0
Japanese yen 6.9 7.7 7.4 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 1.4 1.3 0.9 0.1 0.4 0.4 0.3 0.3
U.S.dollars 42.5 45.0 56.8 71.9 55.7 57.2 53.5 52.2
4. Average terms of new commitments
Official creditors
Interest (%) 1.1 1.1 0.8 0.8 0.8 1.1 1.3 1.0
Maturity (years) 36.4 36.8 40.1 37.8 43.5 33.5 31.3 36.1
Grace period (years) 9.7 9.6 10.2 9.8 10.1 9.0 6.9 6.7
Private creditors
Interest (%) 5.0 0.0 0.0 1.0 0.0 0.0 4.3 0.0
Maturity (years) 5.1 0.0 0.0 30.8 0.0 0.0 3.9 0.0
Grace period (years) 1.1 0.0 0.0 11.3 0.0 0.0 0.3 0.0
5. Major economic aggregates
Gross national income (GNI) 2,958 3,002 3,807 4,960 5,435 7,284 9,412 ..
Exports of goods, services & income 485 756 1,210 1,356 1,698 .. .. 1,998
Worker remit. & comp. of employees 8 14 11 11 11 11 11 11
Imports of goods, services & income 985 1,161 1,584 2,146 2,369 3,438 4,924 3,868
Profit remittances on FDI 1 3 4 38 .. .. .. ..
Current account balance -265 -276 -260 -554 .. .. .. ..
International reserves 92 109 285 481 583 847 982 1,135
6. Ratios
External debt stocks to exports (%) 759.9 568.9 387.6 257.7 87.8 .. .. 110.8
External debt stocks to GNI (%) 124.7 143.3 123.2 70.4 27.4 23.4 22.2 ..
Debt service to exports (%) 45.9 7.7 9.6 5.8 3.5 .. .. 2.3
Short-term to external debt stocks (%) 6.1 12.6 6.4 2.8 14.8 14.9 12.2 11.8
Multilateral to external debt stocks (%) 33.4 39.3 39.0 81.3 59.6 64.0 66.1 65.4
Reserves to external debt stocks (%) 2.5 2.5 6.1 13.8 39.1 49.6 47.1 51.3
Reserves to imports (months) 1.1 1.1 2.2 2.7 3.0 3.0 2.4 3.5
190
MADAGASCAR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 88 0 0 26 11 1 14 0
Total amount forgiven 185 0 0 100 2,475 143 6 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 83 63 64 53 62 69 58 65
Interest 18 18 19 20 20 19 19 18
Private creditors
Principal 1 1 1 1 0 0 0 1
Interest 0 0 0 0 0 0 0 0
Notes:
Madagascar was granted debt relief effective in 2006 under MDRI.
191
MALAWI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,557 2,238 2,705 3,183 872 836 959 1,093
Long-term external debt 1,383 2,078 2,544 3,062 789 805 835 899
Public and publicly guaranteed 1,381 2,078 2,544 3,062 789 805 835 899
Private nonguaranteed 2 0 0 0 0 0 0 0
Use of IMF credit 115 116 83 75 19 31 125 127
Short-term external debt 58 44 78 46 64 0 0 67
interest arrears on long-term 6 1 37 34 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 19 7 72 13 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 1,371 2,075 2,541 3,062 789 805 835 899
/RQJWHUPSULYDWHVHFWRUGHEW 13 3 3 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 259 102 59 25 20 94 170 187
External debt flows
Disbursements 161 227 127 97 108 79 163 81
Long-term external debt 136 215 119 89 94 69 66 81
IMF purchases 25 12 8 8 14 10 97 0
Principal repayments 86 75 42 52 49 20 17 20
Long-term external debt 67 65 33 38 32 20 17 20
IMF repurchases 19 10 9 15 17 0 0 0
Net flows 88 183 83 45 112 -4 146 128
Long-term external debt 69 150 86 51 62 49 49 61
Short-term external debt 13 32 -2 1 52 -64 0 67
Interest payments 47 43 21 23 21 13 15 16
Long-term external debt 36 39 18 22 18 12 15 15
IMF charges 6 1 0 1 1 0 0 1
Short-term external debt 4 3 3 0 2 2 0 0
2. Other non-debt resource inflows
Foreign direct investment 23 6 26 52 72 92 170 60
Portfolio equity 1 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.3 8.7 5.2 3.7 3.4
Japanese yen 9.3 12.3 8.4 6.2 0.0 0.0 0.0 0.0
Pound sterling 16.8 9.0 6.2 4.8 0.0 0.0 0.0 0.0
Swiss franc 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0
U.S.dollars 46.9 53.6 65.9 65.8 57.0 59.0 57.4 58.3
4. Average terms of new commitments
Official creditors
Interest (%) 1.1 1.0 0.8 1.4 0.8 1.7 1.2 1.4
Maturity (years) 39.5 38.6 44.7 41.4 34.6 37.1 35.3 30.7
Grace period (years) 9.4 9.6 10.1 8.9 10.7 9.7 12.9 7.3
Private creditors
Interest (%) 8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 11.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1,837 1,350 1,707 2,813 3,125 3,563 4,025 4,418
Exports of goods, services & income 452 473 471 .. .. .. .. ..
Worker remit. & comp. of employees .. 1 1 1 1 1 1 1
Imports of goods, services & income 638 708 680 .. .. 895 1,090 ..
Profit remittances on FDI 5 9 15 .. .. .. .. ..
Current account balance -86 -78 -73 .. .. .. .. ..
International reserves 142 115 247 165 142 227 254 150
6. Ratios
External debt stocks to exports (%) 344.1 472.8 574.7 .. .. .. .. ..
External debt stocks to GNI (%) 84.7 165.8 158.4 113.1 27.9 23.5 23.8 24.7
Debt service to exports (%) 29.3 24.9 13.4 .. .. .. .. ..
Short-term to external debt stocks (%) 3.7 1.9 2.9 1.5 7.3 .. .. 6.1
Multilateral to external debt stocks (%) 69.9 76.3 75.6 80.5 49.4 52.3 50.7 49.4
Reserves to external debt stocks (%) 9.1 5.1 9.1 5.2 16.3 27.2 26.5 13.7
Reserves to imports (months) 2.7 1.9 4.4 .. .. 3.0 2.8 ..
192
MALAWI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 1 180 24 0 11
Total amount forgiven 51 0 0 54 2,512 56 16 1
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 28 28 28 31 34 37 37 36
Interest 16 17 18 18 17 17 16 16
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Malawi was granted debt relief effective in 2006 under MDRI. Data include the effects of Paris Club restructuring agreement signed in 2006. Data for 2007,
2008, and 2009 include the effects of Enhanced HIPC Initiative, in the amount of $686 in thousands, $835 in thousands, and $1,070 in thousands respectively.
193
MALAYSIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 15,328 34,343 41,874 51,981 55,026 61,566 66,181 66,390
Long-term external debt 13,422 27,069 37,300 38,805 43,223 38,466 43,381 42,696
Public and publicly guaranteed 11,592 16,023 19,234 22,449 22,599 18,440 21,463 21,364
Private nonguaranteed 1,830 11,046 18,067 16,356 20,624 20,026 21,918 21,332
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 1,906 7,274 4,573 13,176 11,803 23,100 22,800 23,695
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 11,592 16,023 19,135 22,431 22,588 18,436 21,463 16,864
/RQJWHUPSULYDWHVHFWRUGHEW 1,830 11,046 18,166 16,374 20,635 20,030 21,918 25,832
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 701 3,772 5,464 1,212 1,990 202 2,533 4,500
External debt flows
Disbursements 1,683 8,503 5,921 6,050 7,038 5,037 5,180 6,339
Long-term external debt 1,683 8,503 5,921 6,050 7,038 5,037 5,180 6,339
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 3,167 4,450 4,146 7,192 5,269 7,819 6,258 8,793
Long-term external debt 3,167 4,450 4,146 7,192 5,269 7,819 6,258 8,793
IMF repurchases 0 0 0 0 0 0 0 0
Net flows -1,851 5,138 337 601 396 8,516 -1,378 -1,560
Long-term external debt -1,484 4,053 1,775 -1,142 1,769 -2,781 -1,078 -2,455
Short-term external debt -367 1,085 -1,439 1,744 -1,373 11,297 -300 895
Interest payments 1,166 1,591 2,299 2,197 2,362 2,618 2,515 2,276
Long-term external debt 997 1,150 2,033 1,872 1,882 2,024 2,038 1,695
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 169 441 266 325 480 594 476 581
2. Other non-debt resource inflows
Foreign direct investment 2,332 4,178 3,788 3,966 6,076 8,454 7,376 1,609
Portfolio equity 0 0 .. -1,200 2,355 -669 -10,716 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 4.1 4.5 6.2 5.0 0.1
Japanese yen 36.5 34.6 27.6 22.3 19.6 20.8 20.7 15.8
Pound sterling 1.6 1.0 0.7 0.6 0.6 0.8 0.5 0.6
Swiss franc 3.6 3.1 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 31.8 48.5 62.8 70.8 73.5 70.6 72.7 82.9
4. Average terms of new commitments
Official creditors
Interest (%) 4.0 3.4 3.1 0.0 0.0 0.0 0.0 0.0
Maturity (years) 22.9 24.4 24.1 0.0 0.0 0.0 0.0 0.0
Grace period (years) 6.7 6.3 3.5 0.0 0.0 0.0 0.0 0.0
Private creditors
Interest (%) 8.9 6.3 7.0 5.2 5.7 5.7 4.7 5.3
Maturity (years) 11.4 16.9 7.6 9.6 9.2 8.8 7.0 8.4
Grace period (years) 2.6 14.0 4.0 9.5 5.6 0.8 0.8 8.4
5. Major economic aggregates
Gross national income (GNI) 42,152 84,689 86,182 131,531 151,811 181,942 214,063 185,469
Exports of goods, services & income 34,514 85,992 114,356 166,757 191,091 217,219 242,135 211,985
Worker remit. & comp. of employees 185 116 342 1,117 1,365 1,570 1,329 1,315
Imports of goods, services & income 35,486 93,618 103,944 142,299 160,331 183,394 197,959 155,380
Profit remittances on FDI 1,926 4,144 7,173 8,330 8,858 9,839 13,838 ..
Current account balance -870 -8,644 8,488 19,980 26,200 29,243 38,914 ..
International reserves 10,659 24,699 28,651 70,458 82,876 101,995 92,166 96,704
6. Ratios
External debt stocks to exports (%) 44.4 39.9 36.6 31.2 28.8 28.3 27.3 31.3
External debt stocks to GNI (%) 36.4 40.6 48.6 39.5 36.2 33.8 30.9 35.8
Debt service to exports (%) 12.6 7.0 5.6 5.6 4.0 4.8 3.6 5.2
Short-term to external debt stocks (%) 12.4 21.2 10.9 25.3 21.4 37.5 34.5 35.7
Multilateral to external debt stocks (%) 11.8 4.8 3.1 1.8 1.5 0.8 0.6 0.5
Reserves to external debt stocks (%) 69.5 71.9 68.4 135.5 150.6 165.7 139.3 145.7
Reserves to imports (months) 3.6 3.2 3.3 5.9 6.2 6.7 5.6 7.5
194
MALAYSIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 649 566 546 322 295 236 214 187
Interest 92 78 65 53 44 36 30 23
Private creditors
Principal 6,033 6,072 3,606 2,920 5,660 5,299 1,844 1,321
Interest 1,445 1,260 1,081 985 893 653 467 404
Notes:
Long-term public and publicly guaranteed, long-term private nonguaranteed debt and short-term debt for 2009 are World Bank staff estimates based on
government statistics.
195
MALDIVES
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 78.0 154.9 206.0 391.9 488.0 629.8 715.9 780.2
Long-term external debt 64.0 151.9 184.7 329.7 383.6 444.4 497.3 569.4
Public and publicly guaranteed 64.0 151.9 184.7 329.7 383.6 444.4 497.3 569.4
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 5.9 6.2 6.5 3.9 8.8
Short-term external debt 14.0 3.0 21.4 56.3 98.2 179.0 214.6 202.0
interest arrears on long-term 0.0 0.0 0.0 0.3 0.2 0.0 1.6 1.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.0 0.0 0.0 0.0 0.0 0.0 8.6 8.7
/RQJWHUPSXEOLFVHFWRUGHEW 64.0 151.9 183.4 300.4 355.9 418.8 474.7 550.1
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 1.2 29.3 27.8 25.5 22.6 19.3
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 15.5 29.2 38.1 73.7 144.4 70.8 193.7 114.3
External debt flows
Disbursements 13.0 34.7 13.6 57.9 67.1 73.8 102.2 121.5
Long-term external debt 13.0 34.7 13.6 51.8 67.1 73.8 102.2 113.6
IMF purchases 0.0 0.0 0.0 6.1 0.0 0.0 0.0 7.9
Principal repayments 6.0 7.1 13.9 24.4 25.5 32.6 42.9 50.0
Long-term external debt 6.0 7.1 13.9 24.4 25.5 32.6 40.4 46.8
IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 2.4 3.2
Net flows 8.6 29.6 -3.8 57.5 83.6 122.2 93.3 59.5
Long-term external debt 7.0 27.6 -0.4 27.5 41.6 41.2 61.8 66.7
Short-term external debt 1.6 2.0 -3.5 24.0 42.0 81.0 34.0 -12.0
Interest payments 2.8 3.7 5.9 11.2 15.8 22.8 22.7 19.2
Long-term external debt 1.3 3.6 4.7 9.1 10.5 12.8 14.0 13.1
IMF charges 0.0 0.0 0.0 0.1 0.3 0.3 0.3 0.1
Short-term external debt 1.5 0.2 1.2 2.0 5.0 9.7 8.5 6.0
2. Other non-debt resource inflows
Foreign direct investment 5.6 7.2 13.0 9.5 13.9 15.0 15.4 9.6
Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.6 14.7 20.5 22.3 18.7
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.3 1.2
Pound sterling 0.4 0.0 0.2 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 25.4 51.3 53.3 55.7 52.0 48.5 47.6 54.0
4. Average terms of new commitments
Official creditors
Interest (%) 0.8 2.5 2.5 1.1 3.6 4.1 0.9 2.5
Maturity (years) 37.3 34.8 34.7 30.5 19.5 20.1 12.9 23.6
Grace period (years) 9.2 10.1 9.3 7.4 4.5 5.2 4.0 5.8
Private creditors
Interest (%) 0.0 7.9 6.6 6.6 8.4 6.9 0.0 2.1
Maturity (years) 0.0 6.0 8.4 7.8 10.3 8.3 0.0 11.2
Grace period (years) 0.0 1.7 1.1 1.6 1.5 1.8 0.0 1.7
5. Major economic aggregates
Gross national income (GNI) 193.9 379.0 594.3 725.9 877.8 1010.9 1208.5 1300.8
Exports of goods, services & income 183.8 322.4 467.5 495.4 792.7 898.8 1052.1 833.8
Worker remit. & comp. of employees 1.7 2.4 2.2 2.3 2.8 3.0 3.1 3.1
Imports of goods, services & income 177.7 337.0 492.0 910.4 1102.8 1322.9 1651.2 1185.2
Profit remittances on FDI 13.9 19.9 34.4 31.0 41.0 44.9 42.2 26.4
Current account balance 9.9 -18.2 -51.5 -273.0 -302.0 -437.8 -651.3 ..
International reserves 24.4 48.0 122.8 186.3 231.4 308.3 240.6 261.0
6. Ratios
External debt stocks to exports (%) 42.4 48.0 44.1 79.1 61.6 70.1 68.0 93.6
External debt stocks to GNI (%) 40.2 40.9 34.7 54.0 55.6 62.3 59.2 60.0
Debt service to exports (%) 4.8 3.4 4.2 7.2 5.2 6.2 6.2 8.3
Short-term to external debt stocks (%) 18.0 1.9 10.4 14.4 20.1 28.4 30.0 25.9
Multilateral to external debt stocks (%) 41.7 57.0 57.6 44.6 44.7 41.7 39.0 37.0
Reserves to external debt stocks (%) 31.3 31.0 59.6 47.5 47.4 49.0 33.6 33.4
Reserves to imports (months) 1.6 1.7 3.0 2.5 2.5 2.8 1.7 2.6
196
MALDIVES
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 77.7 79.4 46.6 34.4 33.2 27.9 30.8 25.9
Interest 6.0 6.3 6.3 6.0 5.6 5.2 4.8 4.6
Private creditors
Principal 24.8 30.9 26.6 18.9 17.3 14.8 12.3 9.4
Interest 3.7 3.3 2.7 2.1 1.6 1.2 0.9 0.6
197
MALI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,468 2,958 2,960 3,260 1,656 1,992 2,125 2,667
Long-term external debt 2,337 2,739 2,671 3,095 1,618 1,973 2,078 2,592
Public and publicly guaranteed 2,337 2,739 2,671 3,095 1,618 1,973 2,078 2,592
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 69 147 176 109 8 13 40 44
Short-term external debt 62 72 114 55 30 6 7 32
interest arrears on long-term 9 28 42 6 6 6 7 8
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 63 342 541 118 134 144 160 182
/RQJWHUPSXEOLFVHFWRUGHEW 2,331 2,739 2,671 3,095 1,618 1,973 2,078 2,592
/RQJWHUPSULYDWHVHFWRUGHEW 6 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 123 163 245 437 277 436 302 498
External debt flows
Disbursements 195 238 109 282 150 261 198 494
Long-term external debt 167 193 100 280 144 257 170 491
IMF purchases 28 45 9 2 6 4 28 3
Principal repayments 44 62 66 69 58 47 45 55
Long-term external debt 25 55 50 52 58 47 45 55
IMF repurchases 18 7 16 17 0 0 0 0
Net flows 159 200 -31 218 67 190 154 463
Long-term external debt 142 138 50 228 86 210 125 436
Short-term external debt 8 24 -73 5 -25 -24 0 24
Interest payments 24 25 26 30 26 20 25 26
Long-term external debt 17 22 18 27 24 19 25 25
IMF charges 4 1 1 0 0 0 0 0
Short-term external debt 3 2 8 3 2 1 0 0
2. Other non-debt resource inflows
Foreign direct investment 6 111 82 224 83 73 180 109
Portfolio equity 0 .. 0 9 3 -6 -3 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 14.1 19.0 16.9 14.9 13.7
Japanese yen 0.3 2.3 2.9 2.0 3.7 3.0 3.3 2.4
Pound sterling 2.6 1.8 1.8 1.7 3.8 3.1 2.1 1.9
Swiss franc 2.3 2.1 1.5 1.6 3.3 2.9 3.0 2.4
U.S.dollars 14.8 22.5 33.9 44.5 28.8 29.5 30.4 31.8
4. Average terms of new commitments
Official creditors
Interest (%) 1.0 1.5 0.6 1.1 0.9 1.4 1.1 1.1
Maturity (years) 29.9 30.7 34.9 34.5 41.9 32.0 36.8 33.8
Grace period (years) 8.4 8.8 8.8 8.6 9.8 8.2 9.3 8.6
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 5.9 4.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 11.4 11.2
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 4.9 4.7
5. Major economic aggregates
Gross national income (GNI) 2,405 2,419 2,392 5,099 5,524 7,146 8,722 8,996
Exports of goods, services & income 442 538 665 1,443 1,933 2,004 2,653 ..
Worker remit. & comp. of employees 107 112 73 177 212 344 431 424
Imports of goods, services & income 889 1,040 1,046 2,108 2,476 2,985 4,174 ..
Profit remittances on FDI 4 5 76 190 251 262 326 ..
Current account balance -221 -284 -255 -438 -219 -581 -1,066 ..
International reserves 198 323 381 855 970 1,087 1,072 1,604
6. Ratios
External debt stocks to exports (%) 557.9 550.2 445.3 225.9 85.7 99.4 80.1 ..
External debt stocks to GNI (%) 102.6 122.3 123.7 63.9 30.0 27.9 24.4 29.6
Debt service to exports (%) 15.3 16.1 14.0 6.9 4.4 3.3 2.6 ..
Short-term to external debt stocks (%) 2.5 2.4 3.8 1.7 1.8 0.3 0.3 1.2
Multilateral to external debt stocks (%) 36.3 47.2 51.1 68.7 42.3 48.6 51.3 56.4
Reserves to external debt stocks (%) 8.0 10.9 12.9 26.2 58.5 54.6 50.4 60.2
Reserves to imports (months) 2.7 3.7 4.4 4.9 4.7 4.4 3.1 ..
198
MALI
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 11 0 0 0 0 0 0 0
Total amount forgiven 3 0 34 33 1,898 6 9 0
Debt buyback 0 0 45 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 113 113 114 113 124 142 145 154
Interest 28 30 31 31 31 30 29 27
Private creditors
Principal 3 3 3 1 1 1 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Mali was granted debt relief effective in 2006 under MDRI.
199
MAURITANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,113 2,396 2,378 2,308 1,618 1,705 1,987 2,029
Long-term external debt 1,806 2,127 2,029 2,072 1,389 1,438 1,670 1,851
Public and publicly guaranteed 1,806 2,127 2,029 2,072 1,389 1,438 1,670 1,851
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 70 100 98 69 0 13 16 16
Short-term external debt 238 169 251 167 229 254 301 163
interest arrears on long-term 63 79 112 109 130 128 135 134
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 142 174 337 213 223 218 252 212
/RQJWHUPSXEOLFVHFWRUGHEW 1,806 2,127 2,029 2,072 1,389 1,438 1,670 1,851
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 216 114 106 395 158 307 326 150
External debt flows
Disbursements 148 133 123 143 175 197 297 273
Long-term external debt 136 111 115 143 175 185 294 273
IMF purchases 12 22 8 0 0 13 3 0
Principal repayments 98 79 52 42 66 93 38 53
Long-term external debt 83 70 46 33 44 93 38 53
IMF repurchases 16 9 6 10 23 0 0 0
Net flows 102 68 62 92 149 131 300 83
Long-term external debt 54 42 69 111 131 92 256 220
Short-term external debt 53 14 -9 -9 41 27 40 -137
Interest payments 47 38 31 23 25 28 26 24
Long-term external debt 35 32 20 20 20 23 21 23
IMF charges 3 0 1 0 0 0 0 0
Short-term external debt 9 5 11 3 5 5 4 1
2. Other non-debt resource inflows
Foreign direct investment 7 7 40 814 106 138 338 -38
Portfolio equity 0 0 .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.2 5.3 8.3 9.4 8.1
Japanese yen 1.3 3.1 3.6 0.1 0.1 0.1 0.1 0.0
Pound sterling 0.6 0.5 0.4 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.0
U.S.dollars 34.3 34.0 40.9 49.3 32.1 36.0 37.8 39.3
4. Average terms of new commitments
Official creditors
Interest (%) 3.1 1.1 1.9 3.3 1.5 2.6 2.8 1.9
Maturity (years) 31.2 34.7 28.5 21.8 30.5 27.3 25.6 21.1
Grace period (years) 8.5 9.7 7.5 5.4 8.4 5.6 6.2 7.3
Private creditors
Interest (%) 0.0 0.0 0.0 5.8 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 9.8 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 1.8 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1,076 1,366 1,092 1,901 2,769 2,750 3,571 3,047
Exports of goods, services & income 474 506 .. .. .. .. .. ..
Worker remit. & comp. of employees 14 5 2 2 2 2 2 2
Imports of goods, services & income 570 559 .. .. .. 1,715 .. 2,046
Profit remittances on FDI 1 4 .. .. .. .. .. ..
Current account balance -10 22 .. .. .. .. .. ..
International reserves 59 90 49 70 194 207 199 238
6. Ratios
External debt stocks to exports (%) 445.4 473.9 .. .. .. .. .. ..
External debt stocks to GNI (%) 196.4 175.3 217.8 121.4 58.4 62.0 55.6 66.6
Debt service to exports (%) 30.7 23.1 .. .. .. .. .. ..
Short-term to external debt stocks (%) 11.2 7.1 10.6 7.2 14.1 14.9 15.1 8.0
Multilateral to external debt stocks (%) 31.0 38.6 41.8 61.2 45.1 47.0 46.4 54.9
Reserves to external debt stocks (%) 2.8 3.8 2.1 3.0 12.0 12.2 10.0 11.7
Reserves to imports (months) 1.2 1.9 .. .. .. 1.5 .. 1.4
200
MAURITANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 11 65 11 10 0 0 0 0
Total amount forgiven 71 15 53 25 905 66 38 2
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 67 82 105 112 105 104 115 114
Interest 32 36 37 37 37 35 34 32
Private creditors
Principal 2 1 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Mauritania was granted debt relief effective in 2006 under MDRI.
201
MAURITIUS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 934.0 1416.0 946.3 775.8 621.9 660.1 625.7 741.5
Long-term external debt 909.7 1414.9 946.3 775.8 621.9 660.1 625.7 741.5
Public and publicly guaranteed 762.2 1147.9 827.8 709.4 573.2 597.8 576.7 660.8
Private nonguaranteed 147.5 267.0 118.4 66.4 48.6 62.2 49.0 80.7
Use of IMF credit 22.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 2.3 1.2 0.0 0.0 0.0 0.0 0.0 0.0
interest arrears on long-term 2.3 1.2 0.0 0.0 0.0 0.0 0.0 0.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
/RQJWHUPSXEOLFVHFWRUGHEW 762.2 1147.9 827.8 709.4 573.2 597.8 576.7 660.8
/RQJWHUPSULYDWHVHFWRUGHEW 147.5 267.0 118.4 66.4 48.6 62.2 49.0 80.7
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 136.7 565.8 101.2 61.7 55.8 150.2 113.7 1203.9
External debt flows
Disbursements 161.1 408.6 128.1 137.9 39.3 118.0 114.0 215.6
Long-term external debt 161.1 408.6 128.1 137.9 39.3 118.0 114.0 215.6
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments 103.5 153.9 401.0 196.8 225.9 125.6 137.4 107.3
Long-term external debt 60.0 153.9 401.0 196.8 225.9 125.6 137.4 107.3
IMF repurchases 43.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 57.7 254.7 -272.9 -58.9 -186.6 -7.6 -23.4 108.3
Long-term external debt 101.2 254.7 -272.9 -58.9 -186.6 -7.6 -23.4 108.3
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest payments 47.8 55.9 51.8 29.6 29.0 26.3 23.3 17.9
Long-term external debt 42.8 55.9 51.8 29.6 29.0 26.3 23.3 17.9
IMF charges 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 41.0 18.7 265.6 41.8 106.8 340.8 377.7 256.7
Portfolio equity 0.0 22.0 -3.5 35.6 35.1 49.8 33.9 -32.5
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 48.6 52.7 51.2 45.8 39.2
Japanese yen 1.0 1.2 2.6 5.6 6.2 6.5 8.4 6.7
Pound sterling 8.7 1.8 1.6 1.5 1.7 1.5 1.5 1.2
Swiss franc 0.5 0.2 0.3 0.2 0.2 0.2 0.1 0.0
U.S.dollars 14.4 42.3 45.9 24.9 20.5 21.7 24.9 35.8
4. Average terms of new commitments
Official creditors
Interest (%) 6.0 5.1 3.9 2.6 5.0 4.1 4.2 1.1
Maturity (years) 17.9 17.5 15.7 14.2 17.2 18.7 15.6 18.4
Grace period (years) 6.3 5.5 4.7 4.8 5.8 5.3 5.5 5.0
Private creditors
Interest (%) 0.0 6.3 7.5 2.5 0.0 0.0 0.0 2.8
Maturity (years) 0.0 6.1 1.9 1.0 0.0 0.0 0.0 11.3
Grace period (years) 0.0 4.3 1.9 0.0 0.0 0.0 0.0 1.8
5. Major economic aggregates
Gross national income (GNI) 2630.7 4021.2 4552.7 6275.7 6558.6 7745.5 9481.9 8874.2
Exports of goods, services & income 1777.8 2401.6 2671.0 3899.3 4374.0 5259.4 5747.7 4608.9
Worker remit. & comp. of employees .. 132.0 177.0 215.0 215.0 215.0 215.0 211.2
Imports of goods, services & income 1994.5 2524.9 2771.8 4284.3 5049.5 5818.3 6947.6 5507.2
Profit remittances on FDI 22.5 15.5 8.1 33.6 88.1 90.1 163.2 194.7
Current account balance -119.3 -21.9 -36.9 -324.0 -604.4 -433.9 -975.8 -674.5
International reserves 761.2 887.2 914.4 1371.6 1308.9 1831.7 1796.1 2315.6
6. Ratios
External debt stocks to exports (%) 52.5 59.0 35.4 19.9 14.2 12.6 10.9 16.1
External debt stocks to GNI (%) 35.5 35.2 20.8 12.4 9.5 8.5 6.6 8.4
Debt service to exports (%) 8.5 8.7 16.9 5.8 5.8 2.9 2.8 2.7
Short-term to external debt stocks (%) 0.2 0.1 .. .. .. .. .. ..
Multilateral to external debt stocks (%) 33.3 19.1 22.8 31.4 34.4 37.3 42.1 49.9
Reserves to external debt stocks (%) 81.5 62.7 96.6 176.8 210.5 277.5 287.0 312.3
Reserves to imports (months) 4.6 4.2 4.0 3.8 3.1 3.8 3.1 5.0
202
MAURITIUS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 88.6 81.1 90.1 61.3 94.4 142.5 142.2 138.2
Interest 15.7 17.6 18.9 18.9 19.1 18.5 17.1 15.4
Private creditors
Principal 47.0 39.2 28.8 23.1 15.7 12.1 9.1 8.3
Interest 6.1 4.6 3.4 2.5 1.9 1.4 1.0 0.7
Notes:
Long-term government debt and private nonguaranteed debt data for 2009 are World Bank staff estimates. Short-term debt data are excluded since BIS data
include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2007, 2008, and 2009 are $8,255 millions, $5,082 millions, and
$3,823 millions respectively.
203
MEXICO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 104,442 165,379 150,901 167,942 162,497 192,689 203,579 192,008
Long-term external debt 81,809 112,250 131,969 161,363 152,260 168,840 179,552 168,672
Public and publicly guaranteed 75,974 93,902 81,488 108,482 96,029 105,376 113,950 99,374
Private nonguaranteed 5,835 18,348 50,481 52,881 56,231 63,464 65,602 69,299
Use of IMF credit 6,551 15,828 0 0 0 0 0 0
Short-term external debt 16,082 37,300 18,932 6,578 10,237 23,848 24,027 23,335
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 75,595 93,471 81,210 108,448 96,022 105,374 113,950 99,374
/RQJWHUPSULYDWHVHFWRUGHEW 6,214 18,779 50,758 52,916 56,238 63,467 65,602 69,299
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 12,484 24,610 10,828 14,933 14,974 16,663 24,384 22,795
External debt flows
Disbursements 14,229 42,966 34,024 33,895 32,008 37,312 44,115 34,701
Long-term external debt 12,045 29,678 32,830 33,895 32,008 37,312 44,115 34,701
IMF purchases 2,184 13,288 1,194 0 0 0 0 0
Principal repayments 4,012 15,309 44,451 34,794 44,576 27,960 30,752 29,588
Long-term external debt 2,821 14,165 38,958 34,794 44,576 27,960 30,752 29,588
IMF repurchases 1,191 1,144 5,493 0 0 0 0 0
Net flows 17,637 25,635 -15,557 -3,410 -8,910 22,963 13,542 4,421
Long-term external debt 9,224 15,513 -6,128 -899 -12,568 9,351 13,364 5,113
Short-term external debt 7,420 -2,022 -5,130 -2,511 3,658 13,612 178 -691
Interest payments 7,301 10,801 14,059 10,338 11,519 12,009 10,580 10,365
Long-term external debt 5,797 7,645 12,014 9,694 10,985 11,208 9,799 9,768
IMF charges 522 545 153 0 0 0 0 0
Short-term external debt 982 2,611 1,892 644 535 801 781 597
2. Other non-debt resource inflows
Foreign direct investment 2,549 9,526 18,098 22,345 19,779 27,311 23,170 11,418
Portfolio equity 1,995 519 447 3,353 2,805 -482 -3,503 4,169
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.1 1.3 1.1 1.0 7.4
Japanese yen 6.3 8.3 7.6 1.8 1.0 0.8 0.9 4.6
Pound sterling 1.4 0.7 0.2 0.1 0.1 0.1 0.0 1.2
Swiss franc 0.6 0.4 0.0 0.2 0.2 0.2 0.1 0.5
U.S.dollars 64.3 65.2 85.0 95.7 96.9 97.4 97.8 86.2
4. Average terms of new commitments
Official creditors
Interest (%) 7.8 9.1 5.4 4.0 5.9 7.4 3.3 1.4
Maturity (years) 15.6 9.3 14.8 20.4 13.7 13.0 19.5 17.8
Grace period (years) 4.5 2.9 4.8 4.7 4.4 4.3 7.9 10.0
Private creditors
Interest (%) 9.4 6.2 8.4 6.5 5.5 6.6 6.6 5.6
Maturity (years) 11.5 3.6 9.3 14.5 11.1 16.6 17.4 9.4
Grace period (years) 6.1 2.5 9.1 7.9 7.6 11.5 9.7 8.7
5. Major economic aggregates
Gross national income (GNI) 254,084 273,409 566,409 834,560 934,016 1,007,148 1,072,940 860,849
Exports of goods, services & income 52,078 93,034 185,853 235,729 272,724 297,360 317,219 250,052
Worker remit. & comp. of employees 3,098 4,368 7,525 23,062 26,877 27,136 26,304 22,153
Imports of goods, services & income 63,504 98,571 211,589 262,416 303,120 332,174 358,569 276,808
Profit remittances on FDI 2,304 4,259 6,076 6,900 10,172 11,316 10,250 7,709
Current account balance -7,451 -1,576 -18,743 -4,549 -4,447 -8,399 -15,889 -5,238
International reserves 10,217 17,046 35,577 74,110 76,329 87,208 95,300 99,889
6. Ratios
External debt stocks to exports (%) 200.5 177.8 81.2 71.2 59.6 64.8 64.2 76.8
External debt stocks to GNI (%) 41.1 60.5 26.6 20.1 17.4 19.1 19.0 22.3
Debt service to exports (%) 21.7 28.1 31.5 19.1 20.6 13.4 13.0 16.0
Short-term to external debt stocks (%) 15.4 22.6 12.5 3.9 6.3 12.4 11.8 12.2
Multilateral to external debt stocks (%) 13.7 11.3 11.4 9.8 5.1 4.7 5.2 9.0
Reserves to external debt stocks (%) 9.8 10.3 23.6 44.1 47.0 45.3 46.8 52.0
Reserves to imports (months) 1.9 2.1 2.0 3.4 3.0 3.2 3.2 4.3
204
MEXICO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 36,950 0 0 0 0 0 0 0
Total amount forgiven 8,145 293 478 0 0 0 0 0
Debt buyback 0 13 6,644 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,714 1,912 1,409 1,357 1,292 1,212 1,070 966
Interest 397 343 301 266 232 201 177 158
Private creditors
Principal 25,868 15,587 14,031 17,450 16,962 8,902 6,150 9,024
Interest 8,499 7,368 6,560 5,817 4,919 3,791 3,319 2,741
Notes:
Short-term debt for 2009 is based on reports provided by the country. Adjustments in the stock of debt in 2009 are mainly due to repurchased of $23 billion
PIDIREGAS bonds in 2007 and 2008 which were not accounted by the Government until 2009.
205
MOLDOVA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 695 1,690 2,051 2,437 3,173 3,461 3,457
Long-term external debt .. 459 1,047 1,238 1,454 1,935 2,006 1,985
Public and publicly guaranteed .. 450 850 698 736 777 791 783
Private nonguaranteed .. 9 197 540 718 1,158 1,214 1,203
Use of IMF credit .. 230 154 95 141 160 166 154
Short-term external debt .. 6 489 718 842 1,079 1,289 1,318
interest arrears on long-term .. 5 22 56 15 21 22 38
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 42 33 78 72 92 97 173
/RQJWHUPSXEOLFVHFWRUGHEW .. 450 839 698 736 777 791 783
/RQJWHUPSULYDWHVHFWRUGHEW .. 9 208 540 718 1,158 1,214 1,203
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 169 20 24 40 96 30 70
External debt flows
Disbursements .. 230 176 237 415 621 511 271
Long-term external debt .. 166 164 237 351 588 475 271
IMF purchases .. 64 12 0 64 33 36 0
Principal repayments .. 41 82 184 258 239 414 317
Long-term external debt .. 41 57 163 234 217 389 302
IMF repurchases .. 0 25 22 24 22 25 15
Net flows .. 189 560 157 322 613 305 -33
Long-term external debt .. 124 107 75 117 371 86 -31
Short-term external debt .. 0 465 104 165 231 208 13
Interest payments .. 29 68 66 76 99 87 70
Long-term external debt .. 19 46 42 38 50 56 52
IMF charges .. 10 8 3 3 2 1 1
Short-term external debt .. 0 14 21 35 47 29 16
2. Other non-debt resource inflows
Foreign direct investment .. 26 128 191 233 539 708 86
Portfolio equity .. -1 3 1 2 2 11 2
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 7.6 8.1 8.8 8.9 10.5
Japanese yen .. 8.4 3.4 3.3 3.0 2.9 3.4 2.9
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 22.8 67.1 68.9 69.2 69.0 67.8 66.7
4. Average terms of new commitments
Official creditors
Interest (%) .. 6.8 0.4 1.5 0.8 3.0 0.8 1.2
Maturity (years) .. 10.4 39.7 28.9 39.4 23.8 39.6 26.6
Grace period (years) .. 3.3 10.2 7.4 10.1 6.1 10.1 8.4
Private creditors
Interest (%) .. 7.0 5.9 0.0 0.0 0.0 0.0 0.0
Maturity (years) .. 6.0 3.2 0.0 0.0 0.0 0.0 0.0
Grace period (years) .. 1.5 3.2 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 1,724 1,310 3,347 3,809 4,819 6,653 5,793
Exports of goods, services & income .. 898 780 2,043 2,132 2,708 3,388 2,594
Worker remit. & comp. of employees .. 1 179 920 1,182 1,498 1,897 1,211
Imports of goods, services & income .. 1,038 1,089 2,844 3,335 4,602 5,998 4,253
Profit remittances on FDI .. 0 3 45 108 182 153 145
Current account balance .. -85 -98 -226 -389 -674 -987 -439
International reserves .. 257 222 597 775 1,334 1,672 1,480
6. Ratios
External debt stocks to exports (%) .. 77.4 216.5 100.4 114.3 117.2 102.1 133.2
External debt stocks to GNI (%) .. 40.3 129.0 61.3 64.0 65.9 52.0 59.7
Debt service to exports (%) .. 7.9 19.2 12.2 15.7 12.5 14.8 14.9
Short-term to external debt stocks (%) .. 0.9 28.9 35.0 34.6 34.0 37.2 38.1
Multilateral to external debt stocks (%) .. 31.1 23.9 19.9 17.7 14.9 14.3 14.9
Reserves to external debt stocks (%) .. 37.0 13.2 29.1 31.8 42.0 48.3 42.8
Reserves to imports (months) .. 3.0 2.5 2.5 2.8 3.5 3.3 4.2
206
MOLDOVA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 246 0 88 32 31 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 64 57 57 61 53 46 33 34
Interest 17 15 13 15 13 11 10 9
Private creditors
Principal 226 177 128 117 90 65 91 62
Interest 52 53 35 37 26 27 29 15
Notes:
Short-term debt data are World Bank staff estimates based on government statistics.
207
MONGOLIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 531 896 1,327 1,440 1,682 1,833 2,212
Long-term external debt .. 472 833 1,267 1,363 1,581 1,705 1,958
Public and publicly guaranteed .. 472 833 1,267 1,361 1,576 1,657 1,817
Private nonguaranteed .. 0 0 0 3 5 48 141
Use of IMF credit .. 47 50 35 31 26 20 182
Short-term external debt .. 12 13 25 46 75 108 72
interest arrears on long-term .. 0 2 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 4 17 21 25 26 26 10
/RQJWHUPSXEOLFVHFWRUGHEW .. 451 832 1,267 1,361 1,576 1,657 1,817
/RQJWHUPSULYDWHVHFWRUGHEW .. 22 1 0 3 5 48 141
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 250 102 72 55 170 304 173
External debt flows
Disbursements .. 101 83 91 92 167 121 438
Long-term external debt .. 101 75 91 92 167 121 273
IMF purchases .. 0 8 0 0 0 0 166
Principal repayments .. 42 28 23 31 37 46 81
Long-term external debt .. 32 22 17 25 30 41 74
IMF repurchases .. 9 6 6 6 7 5 7
Net flows .. 67 45 -73 82 160 108 322
Long-term external debt .. 68 53 74 67 137 80 199
Short-term external debt .. 8 -9 -142 21 29 33 -36
Interest payments .. 10 10 20 17 19 35 31
Long-term external debt .. 9 9 15 15 15 30 29
IMF charges .. 1 0 0 0 0 0 1
Short-term external debt .. 0 1 5 2 3 5 1
2. Other non-debt resource inflows
Foreign direct investment .. 10 54 185 344 360 683 437
Portfolio equity .. 0 .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 7.6 8.4 9.1 8.5 8.1
Japanese yen .. 26.5 25.0 21.4 19.6 17.6 21.3 20.5
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 2.3 0.7 0.6 0.6 0.6 0.6 0.5
U.S.dollars .. 38.1 35.8 44.5 45.2 46.7 43.7 43.8
4. Average terms of new commitments
Official creditors
Interest (%) .. 2.2 1.2 1.1 1.0 0.9 1.0 0.7
Maturity (years) .. 35.3 31.9 31.5 32.5 33.9 39.3 30.7
Grace period (years) .. 10.1 9.3 7.9 8.5 11.1 9.8 9.7
Private creditors
Interest (%) .. 0.0 0.0 0.0 0.0 8.6 0.0 8.0
Maturity (years) .. 0.0 0.0 0.0 0.0 3.0 0.0 3.0
Grace period (years) .. 0.0 0.0 0.0 0.0 3.0 0.0 3.0
5. Major economic aggregates
Gross national income (GNI) .. 1,201 1,084 2,254 3,090 3,832 5,127 3,968
Exports of goods, services & income .. 511 627 1,494 2,048 2,586 3,045 2,324
Worker remit. & comp. of employees .. .. 12 180 181 194 200 194
Imports of goods, services & income .. 550 791 1,635 2,042 2,627 3,956 2,852
Profit remittances on FDI .. 18 9 41 145 126 109 121
Current account balance .. 39 -70 84 222 .. .. ..
International reserves .. 158 202 333 720 1,002 657 1,327
6. Ratios
External debt stocks to exports (%) .. 103.8 143.1 88.8 70.3 65.0 60.2 95.2
External debt stocks to GNI (%) .. 44.2 82.7 58.9 46.6 43.9 35.7 55.8
Debt service to exports (%) .. 10.2 6.2 2.9 2.4 2.1 2.7 4.8
Short-term to external debt stocks (%) .. 2.2 1.4 1.9 3.2 4.5 5.9 3.3
Multilateral to external debt stocks (%) .. 32.0 51.5 59.3 59.3 56.2 52.6 48.3
Reserves to external debt stocks (%) .. 29.7 22.5 25.1 50.0 59.6 35.8 60.0
Reserves to imports (months) .. 3.4 3.1 2.4 4.2 4.6 2.0 5.6
208
MONGOLIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 0 3 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 52 60 65 66 69 73 74 74
Interest 23 24 24 24 24 23 24 23
Private creditors
Principal 99 39 38 42 8 3 1 0
Interest 5 4 2 1 0 0 0 0
Notes:
Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development.
209
MONTENEGRO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. .. .. .. 841 1,263 1,466 2,308
Long-term external debt .. .. .. .. 841 858 864 1,101
Public and publicly guaranteed .. .. .. .. 829 848 855 1,093
Private nonguaranteed .. .. .. .. 12 10 9 8
Use of IMF credit .. .. .. .. 0 0 0 0
Short-term external debt .. .. .. .. 0 405 602 1,207
interest arrears on long-term .. .. .. .. 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. .. .. .. 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. .. .. .. 829 848 855 1,093
/RQJWHUPSULYDWHVHFWRUGHEW .. .. .. .. 12 10 9 8
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. .. .. .. 64 193 43 305
External debt flows
Disbursements .. .. .. .. 88 78 64 269
Long-term external debt .. .. .. .. 88 78 64 269
IMF purchases .. .. .. .. 0 0 0 0
Principal repayments .. .. .. .. 13 109 28 30
Long-term external debt .. .. .. .. 13 109 28 30
IMF repurchases .. .. .. .. 0 0 0 0
Net flows .. .. .. .. 75 -32 233 844
Long-term external debt .. .. .. .. 75 -32 36 239
Short-term external debt .. .. .. .. 0 0 197 605
Interest payments .. .. .. .. 28 50 40 40
Long-term external debt .. .. .. .. 28 35 28 28
IMF charges .. .. .. .. 0 0 0 0
Short-term external debt .. .. .. .. 0 15 12 12
2. Other non-debt resource inflows
Foreign direct investment .. .. .. .. .. 927 887 1,339
Portfolio equity .. .. .. .. .. 5 -5 -5
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. .. 44.4 51.0 51.3 59.8
Japanese yen .. .. .. .. 0.0 0.0 0.0 0.0
Pound sterling .. .. .. .. 0.1 0.1 0.0 0.0
Swiss franc .. .. .. .. 1.8 3.9 4.0 3.3
U.S.dollars .. .. .. .. 50.6 41.4 39.3 32.4
4. Average terms of new commitments
Official creditors
Interest (%) .. .. .. .. 1.2 2.4 4.1 1.7
Maturity (years) .. .. .. .. 14.7 15.7 9.2 14.4
Grace period (years) .. .. .. .. 3.8 5.3 3.2 2.1
Private creditors
Interest (%) .. .. .. .. 4.0 2.0 0.0 8.5
Maturity (years) .. .. .. .. 5.6 13.1 0.0 4.6
Grace period (years) .. .. .. .. 1.1 3.6 0.0 0.5
5. Major economic aggregates
Gross national income (GNI) .. .. .. .. 2,735 3,692 4,531 4,090
Exports of goods, services & income .. .. .. .. .. 1,761 1,998 1,616
Worker remit. & comp. of employees .. .. .. .. .. .. .. ..
Imports of goods, services & income .. .. .. .. .. 3,202 4,179 2,785
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. .. .. .. .. .. ..
International reserves .. .. .. .. 457 689 436 573
6. Ratios
External debt stocks to exports (%) .. .. .. .. .. 71.7 73.4 142.8
External debt stocks to GNI (%) .. .. .. .. 30.8 34.2 32.4 56.4
Debt service to exports (%) .. .. .. .. .. 9.1 3.4 4.4
Short-term to external debt stocks (%) .. .. .. .. .. 32.1 41.1 52.3
Multilateral to external debt stocks (%) .. .. .. .. 64.6 43.6 38.2 25.6
Reserves to external debt stocks (%) .. .. .. .. 54.4 54.5 29.7 24.8
Reserves to imports (months) .. .. .. .. .. 2.6 1.3 2.5
210
MONTENEGRO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. .. .. .. 39 0 0 0
Total amount forgiven .. .. .. .. 0 0 0 0
Debt buyback .. .. .. .. 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 51 57 66 75 82 86 84 81
Interest 17 17 17 16 15 14 13 11
Private creditors
Principal 38 41 42 41 33 4 4 4
Interest 13 12 9 6 2 1 1 0
Notes:
Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. Montenegro became independent in 2006 and, data
are reported starting from 2007.
211
MOROCCO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 25,004 23,771 20,674 16,174 17,815 20,543 20,825 23,752
Long-term external debt 23,847 23,521 19,101 15,492 16,083 18,624 19,194 21,573
Public and publicly guaranteed 23,647 23,190 17,239 12,441 13,496 15,650 16,538 19,219
Private nonguaranteed 200 331 1,862 3,051 2,588 2,975 2,656 2,354
Use of IMF credit 750 52 0 0 0 0 0 0
Short-term external debt 407 198 1,573 682 1,732 1,919 1,631 2,179
interest arrears on long-term 182 92 122 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 738 138 535 3 4 2 1 0
/RQJWHUPSXEOLFVHFWRUGHEW 23,583 22,944 17,077 12,381 13,425 15,565 16,446 19,134
/RQJWHUPSULYDWHVHFWRUGHEW 264 577 2,023 3,111 2,659 3,059 2,748 2,438
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 2,406 2,583 535 2,277 2,842 3,888 1,401 3,288
External debt flows
Disbursements 1,853 2,309 1,638 2,456 2,426 3,976 4,554 4,552
Long-term external debt 1,788 2,309 1,638 2,456 2,426 3,976 4,554 4,552
IMF purchases 65 0 0 0 0 0 0 0
Principal repayments 908 2,368 1,631 2,138 2,784 3,325 3,451 2,709
Long-term external debt 680 2,268 1,631 2,138 2,784 3,325 3,451 2,709
IMF repurchases 228 100 0 0 0 0 0 0
Net flows 1,032 -81 -448 832 692 838 814 2,391
Long-term external debt 1,108 41 7 318 -358 651 1,102 1,843
Short-term external debt 86 -22 -455 514 1,050 187 -288 548
Interest payments 887 1,391 1,075 590 616 694 752 702
Long-term external debt 795 1,360 948 569 540 590 709 678
IMF charges 72 7 0 0 0 0 0 0
Short-term external debt 20 24 127 22 76 104 43 24
2. Other non-debt resource inflows
Foreign direct investment 165 92 221 1,620 2,366 2,807 2,466 1,333
Portfolio equity 0 20 18 64 -298 -64 148 24
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 43.4 47.2 54.6 53.0 54.4
Japanese yen 2.2 3.8 3.3 5.1 5.0 4.7 6.1 5.9
Pound sterling 0.1 0.2 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.2 0.1 0.1 0.1 0.1 0.0 0.0 0.0
U.S.dollars 40.1 27.2 37.6 23.8 19.6 12.6 11.9 10.4
4. Average terms of new commitments
Official creditors
Interest (%) 5.4 4.4 3.4 3.1 3.7 3.9 4.7 2.7
Maturity (years) 24.1 19.8 25.1 19.5 23.0 19.6 19.8 20.2
Grace period (years) 8.3 5.4 6.4 5.5 6.5 5.7 5.0 5.0
Private creditors
Interest (%) 9.7 7.1 5.6 3.6 4.0 5.2 5.3 4.1
Maturity (years) 11.6 9.7 7.7 11.7 14.7 10.3 10.3 12.2
Grace period (years) 2.1 1.5 1.0 1.2 3.0 8.4 0.8 0.4
5. Major economic aggregates
Gross national income (GNI) 24,835 31,668 36,053 58,760 64,703 74,246 87,316 89,868
Exports of goods, services & income 6,321 9,296 10,729 19,477 22,465 28,272 34,806 27,334
Worker remit. & comp. of employees 2,006 1,970 2,161 4,590 5,451 6,730 6,895 6,271
Imports of goods, services & income 8,853 12,812 13,686 23,811 27,383 36,098 48,102 39,208
Profit remittances on FDI 69 100 268 594 674 730 835 1,182
Current account balance -196 -1,186 -475 1,041 1,411 -122 -4,528 -4,570
International reserves 2,338 3,874 5,017 16,551 20,791 24,714 22,720 23,568
6. Ratios
External debt stocks to exports (%) 395.5 255.7 192.7 83.0 79.3 72.7 59.8 86.9
External debt stocks to GNI (%) 100.7 75.1 57.3 27.5 27.5 27.7 23.8 26.4
Debt service to exports (%) 28.4 40.4 25.2 14.0 15.1 14.2 12.1 12.5
Short-term to external debt stocks (%) 1.6 0.8 7.6 4.2 9.7 9.3 7.8 9.2
Multilateral to external debt stocks (%) 18.7 29.1 29.5 36.3 37.2 38.4 41.2 42.2
Reserves to external debt stocks (%) 9.3 16.3 24.3 102.3 116.7 120.3 109.1 99.2
Reserves to imports (months) 3.2 3.6 4.4 8.3 9.1 8.2 5.7 7.2
212
MOROCCO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 4,118 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,370 1,551 1,676 1,553 1,556 1,548 1,521 1,501
Interest 502 514 500 474 444 410 373 335
Private creditors
Principal 663 572 576 626 609 592 190 902
Interest 161 155 142 128 112 97 82 55
213
MOZAMBIQUE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 4,650 7,458 7,255 4,211 2,707 2,966 3,450 4,168
Long-term external debt 4,231 6,978 6,457 3,431 2,109 2,424 2,845 3,354
Public and publicly guaranteed 4,211 5,209 4,740 3,431 2,109 2,424 2,845 3,354
Private nonguaranteed 19 1,769 1,717 0 0 0 0 0
Use of IMF credit 74 202 219 157 10 15 15 171
Short-term external debt 345 279 578 623 588 526 591 643
interest arrears on long-term 207 250 413 535 506 397 460 477
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 725 1,086 762 512 519 466 478 489
/RQJWHUPSXEOLFVHFWRUGHEW 4,211 5,209 4,740 3,431 2,109 2,424 2,845 3,354
/RQJWHUPSULYDWHVHFWRUGHEW 19 1,769 1,717 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 177 150 238 170 331 410 649 474
External debt flows
Disbursements 242 267 190 334 351 343 414 668
Long-term external debt 230 267 131 329 346 338 414 515
IMF purchases 12 0 60 5 5 5 0 153
Principal repayments 41 85 64 55 16 10 14 15
Long-term external debt 41 71 64 39 16 10 14 15
IMF repurchases 0 14 0 15 0 0 0 0
Net flows 173 193 62 315 329 380 402 689
Long-term external debt 189 196 67 290 330 328 400 501
Short-term external debt -28 11 -64 36 -6 47 2 35
Interest payments 38 77 32 24 22 19 23 29
Long-term external debt 23 75 20 22 19 14 19 23
IMF charges 0 1 1 0 0 0 0 0
Short-term external debt 15 1 11 2 2 4 4 5
2. Other non-debt resource inflows
Foreign direct investment 9 45 139 108 154 427 592 881
Portfolio equity 0 0 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.4 5.9 6.4 6.6 6.6
Japanese yen 1.8 1.8 1.8 1.2 2.0 2.0 2.1 1.0
Pound sterling 2.4 2.1 2.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 52.8 60.4 69.0 69.2 63.5 59.1 58.1 56.3
4. Average terms of new commitments
Official creditors
Interest (%) 1.3 0.9 0.8 0.7 0.7 0.8 1.1 1.3
Maturity (years) 34.8 36.8 46.7 38.1 42.2 37.5 36.4 33.5
Grace period (years) 9.2 9.3 12.9 10.1 9.6 9.7 13.1 8.2
Private creditors
Interest (%) 9.0 0.0 0.0 0.0 4.9 5.7 0.0 0.0
Maturity (years) 4.9 0.0 0.0 0.0 11.2 11.5 0.0 12.8
Grace period (years) 2.9 0.0 0.0 0.0 1.7 2.0 0.0 2.8
5. Major economic aggregates
Gross national income (GNI) 2,320 2,069 4,017 6,192 6,462 7,480 9,222 9,696
Exports of goods, services & income 300 470 769 2,186 2,927 3,064 3,375 2,629
Worker remit. & comp. of employees 70 59 37 57 80 99 116 111
Imports of goods, services & income 1,164 1,254 1,763 3,350 4,201 4,452 5,407 4,564
Profit remittances on FDI 0 0 0 284 471 554 544 84
Current account balance -415 -445 -764 -761 -773 -785 -1,179 -1,171
International reserves 232 195 742 1,103 1,216 1,524 1,661 ..
6. Ratios
External debt stocks to exports (%) 1,550.9 1,585.6 943.7 192.6 92.5 96.8 102.2 158.6
External debt stocks to GNI (%) 200.4 360.6 180.6 68.0 41.9 39.6 37.4 43.0
Debt service to exports (%) 26.2 34.5 12.5 3.6 1.3 0.9 1.1 1.6
Short-term to external debt stocks (%) 7.4 3.7 8.0 14.8 21.7 17.7 17.1 15.4
Multilateral to external debt stocks (%) 10.0 17.1 15.2 55.6 37.5 45.5 49.1 47.9
Reserves to external debt stocks (%) 5.0 2.6 10.2 26.2 44.9 51.4 48.1 ..
Reserves to imports (months) 2.4 1.9 5.1 4.0 3.5 4.1 3.7 ..
214
MOZAMBIQUE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 386 66 0 0 0 14 0 0
Total amount forgiven 1,174 323 113 29 1,892 139 3 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 158 157 169 51 73 71 77 91
Interest 39 37 34 32 31 31 30 29
Private creditors
Principal 6 7 8 8 8 8 8 6
Interest 2 2 2 2 1 1 1 0
Notes:
Mozambique was granted debt relief effective in 2006 under MDRI.
215
MYANMAR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 4,695 5,771 5,975 7,012 7,262 8,237 8,002 8,186
Long-term external debt 4,466 5,378 5,287 5,515 5,609 6,221 6,121 6,320
Public and publicly guaranteed 4,466 5,378 5,287 5,515 5,609 6,221 6,121 6,320
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 229 393 688 1,496 1,653 2,016 1,881 1,866
interest arrears on long-term 200 352 490 757 803 953 950 1,009
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 376 1,359 1,784 2,905 3,118 3,743 3,840 4,147
/RQJWHUPSXEOLFVHFWRUGHEW 4,390 5,271 5,193 5,414 5,508 6,102 6,000 6,193
/RQJWHUPSULYDWHVHFWRUGHEW 76 107 94 101 101 118 121 127
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 42 118 0 0 0 0 0 0
External debt flows
Disbursements 122 86 14 1 0 1 1 0
Long-term external debt 122 86 14 1 0 1 1 0
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 46 180 22 25 9 11 10 9
Long-term external debt 44 180 22 25 9 11 10 9
IMF repurchases 2 0 0 0 0 0 0 0
Net flows 91 -74 33 -36 102 203 -142 -83
Long-term external debt 78 -95 -7 -24 -9 -10 -10 -9
Short-term external debt 14 20 41 -12 111 213 -132 -74
Interest payments 15 70 14 46 55 42 23 20
Long-term external debt 13 68 2 1 1 2 2 2
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 2 2 12 44 54 40 21 18
2. Other non-debt resource inflows
Foreign direct investment 163 280 258 237 279 258 283 323
Portfolio equity 0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 11.0 11.9 12.6 10.6 10.3
Japanese yen 46.8 52.3 44.9 45.4 44.5 47.2 48.9 49.8
Pound sterling 1.7 1.3 1.2 1.4 1.5 1.4 1.0 1.1
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 24.3 22.6 35.4 33.5 33.3 30.3 30.6 29.9
4. Average terms of new commitments
Official creditors
Interest (%) 1.5 2.8 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 16.7 33.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 5.2 24.4 0.0 0.0 0.0 0.0 0.0 0.0
Private creditors
Interest (%) 3.5 0.8 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 11.6 6.4 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 2.1 1.8 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. .. .. .. .. .. .. ..
Exports of goods, services & income 322 1,323 2,175 4,102 4,932 .. .. ..
Worker remit. & comp. of employees 6 81 104 131 116 125 150 148
Imports of goods, services & income 797 2,146 2,662 3,689 4,252 .. .. ..
Profit remittances on FDI 147 0 137 1,402 1,317 .. .. ..
Current account balance -436 -261 -212 588 802 .. .. ..
International reserves 410 651 286 889 1,383 .. .. ..
6. Ratios
External debt stocks to exports (%) 1,459.9 436.3 274.7 170.9 147.2 .. .. ..
External debt stocks to GNI (%) .. .. .. .. .. .. .. ..
Debt service to exports (%) 18.8 18.9 1.7 1.7 1.3 .. .. ..
Short-term to external debt stocks (%) 4.9 6.8 11.5 21.3 22.8 24.5 23.5 22.8
Multilateral to external debt stocks (%) 26.3 23.1 19.2 17.5 17.3 15.7 16.4 16.4
Reserves to external debt stocks (%) 8.7 11.3 4.8 12.7 19.0 .. .. ..
Reserves to imports (months) 6.2 3.6 1.3 2.9 3.9 .. .. ..
216
MYANMAR
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 185 162 152 137 120 108 74 98
Interest 21 18 15 13 11 10 9 8
Private creditors
Principal 546 0 0 0 0 0 0 0
Interest 10 0 0 0 0 0 0 0
Notes:
Fiscal year-end for external debt data is March. Data on long-term public and publicly guaranteed debt are World Bank staff estimates based on the original
terms of the loans.
217
NEPAL
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,627 2,410 2,867 3,180 3,392 3,602 3,685 3,683
Long-term external debt 1,559 2,339 2,826 3,112 3,268 3,468 3,551 3,563
Public and publicly guaranteed 1,559 2,339 2,826 3,112 3,268 3,468 3,551 3,563
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 44 48 12 20 43 79 77 76
Short-term external debt 24 23 29 47 81 55 57 44
interest arrears on long-term 4 2 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 6 8 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 1,553 2,338 2,826 3,112 3,268 3,468 3,551 3,563
/RQJWHUPSULYDWHVHFWRUGHEW 5 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 238 89 86 195 166 131 84 183
External debt flows
Disbursements 168 164 154 192 184 175 103 127
Long-term external debt 168 164 154 192 163 141 103 127
IMF purchases 0 0 0 0 21 33 0 0
Principal repayments 40 53 71 85 105 113 127 143
Long-term external debt 28 45 67 85 105 113 127 140
IMF repurchases 12 8 4 0 0 0 0 2
Net flows 130 71 69 118 113 36 -21 -29
Long-term external debt 140 119 87 107 58 29 -23 -14
Short-term external debt 2 -40 -14 11 34 -26 2 -13
Interest payments 28 32 31 32 34 35 35 34
Long-term external debt 24 29 28 30 30 30 34 32
IMF charges 2 0 0 0 0 0 0 0
Short-term external debt 2 2 3 2 4 4 1 1
2. Other non-debt resource inflows
Foreign direct investment 6 .. 0 2 -7 6 1 38
Portfolio equity 0 0 0 .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.1 2.1 2.1 1.7 1.6
Japanese yen 8.5 11.3 9.2 8.9 7.7 7.1 8.0 7.1
Pound sterling 0.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 50.0 44.0 38.6 43.6 44.2 43.5 42.5 42.3
4. Average terms of new commitments
Official creditors
Interest (%) 0.9 3.5 1.4 1.1 1.3 1.9 0.6 0.8
Maturity (years) 38.5 29.8 31.4 34.6 24.6 25.2 30.7 37.1
Grace period (years) 10.3 7.9 8.1 8.7 8.1 6.3 9.8 9.8
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 27.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 8.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 3,640 4,407 5,514 8,153 9,144 10,388 12,737 12,829
Exports of goods, services & income 447 1,072 1,354 1,423 1,393 1,661 1,946 1,703
Worker remit. & comp. of employees .. 57 111 1,212 1,453 1,734 2,727 2,986
Imports of goods, services & income 845 1,659 1,825 2,803 3,030 3,743 4,456 5,139
Profit remittances on FDI 0 0 0 57 56 54 44 9
Current account balance -289 -356 -131 153 150 6 733 -10
International reserves 354 646 987 1,565 .. .. .. ..
6. Ratios
External debt stocks to exports (%) 363.7 224.7 211.7 223.4 243.6 216.9 189.4 216.3
External debt stocks to GNI (%) 44.7 54.7 52.0 39.0 37.1 34.7 28.9 28.7
Debt service to exports (%) 15.2 7.9 7.5 8.2 9.9 8.9 8.3 10.4
Short-term to external debt stocks (%) 1.5 0.9 1.0 1.5 2.4 1.5 1.5 1.2
Multilateral to external debt stocks (%) 78.0 81.0 85.7 86.1 86.0 86.8 86.5 87.2
Reserves to external debt stocks (%) 21.8 26.8 34.4 49.2 .. .. .. ..
Reserves to imports (months) 5.0 4.7 6.5 6.7 .. .. .. ..
218
NEPAL
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 148 157 161 168 176 182 182 186
Interest 45 45 45 44 43 41 40 39
Private creditors
Principal 1 1 1 1 1 1 0 0
Interest 0 0 0 0 0 0 0 0
219
NICARAGUA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 10,751 10,396 6,742 4,931 4,109 3,696 4,228 4,420
Long-term external debt 8,319 8,572 5,661 4,190 3,428 2,809 3,398 3,554
Public and publicly guaranteed 8,319 8,572 5,380 3,899 3,196 2,147 2,230 2,461
Private nonguaranteed 0 0 281 292 232 662 1,168 1,093
Use of IMF credit 0 39 169 201 63 85 111 150
Short-term external debt 2,432 1,785 912 540 617 803 719 716
interest arrears on long-term 1,693 1,475 791 364 438 467 472 484
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 2,464 3,230 900 550 558 482 465 458
/RQJWHUPSXEOLFVHFWRUGHEW 8,319 8,572 5,435 3,899 3,196 2,145 2,230 2,461
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 226 292 232 664 1,168 1,093
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 447 361 185 144 566 64 241 252
External debt flows
Disbursements 577 277 537 287 306 932 971 548
Long-term external debt 577 277 511 287 245 914 942 511
IMF purchases 0 0 27 0 61 18 29 37
Principal repayments 4 203 189 118 107 329 308 376
Long-term external debt 4 190 183 110 107 329 308 376
IMF repurchases 0 13 5 9 0 0 0 0
Net flows 593 88 351 211 202 760 574 156
Long-term external debt 572 87 327 177 138 585 634 135
Short-term external debt 21 13 3 43 3 157 -89 -15
Interest payments 11 85 98 53 58 77 107 116
Long-term external debt 5 76 91 45 50 64 97 107
IMF charges 0 1 1 0 0 0 0 1
Short-term external debt 6 8 7 8 8 13 9 8
2. Other non-debt resource inflows
Foreign direct investment 1 89 267 241 287 382 626 434
Portfolio equity 0 0 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 0.5 1.3 3.8 4.1 4.7
Japanese yen 0.0 1.3 2.3 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0
U.S.dollars 79.9 72.8 71.0 80.9 76.3 84.9 84.7 85.2
4. Average terms of new commitments
Official creditors
Interest (%) 4.4 2.3 1.6 1.2 3.0 1.9 2.7 4.1
Maturity (years) 12.4 32.2 36.9 33.5 27.4 25.0 32.2 33.6
Grace period (years) 1.8 8.4 9.6 8.9 7.8 5.9 10.3 6.4
Private creditors
Interest (%) 9.4 7.4 0.7 0.0 0.0 0.0 0.0 0.0
Maturity (years) 4.9 9.0 39.9 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.4 1.0 10.5 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 988 2,821 3,735 4,723 5,139 5,484 6,205 5,800
Exports of goods, services & income 404 669 1,133 1,985 2,419 2,757 2,960 2,863
Worker remit. & comp. of employees .. 75 320 616 698 740 818 768
Imports of goods, services & income 911 1,529 2,385 3,577 4,133 4,832 5,541 4,722
Profit remittances on FDI 0 29 69 82 85 93 113 121
Current account balance -305 -722 -842 -734 -710 -1,001 -1,513 ..
International reserves 166 142 492 728 922 1,103 1,141 1,573
6. Ratios
External debt stocks to exports (%) 2,661.1 1,554.6 595.3 248.4 169.8 134.1 142.9 154.4
External debt stocks to GNI (%) 1,088.4 368.6 180.5 104.4 79.9 67.4 68.1 76.2
Debt service to exports (%) 3.9 43.1 25.3 8.6 6.8 14.7 14.0 17.2
Short-term to external debt stocks (%) 22.6 17.2 13.5 11.0 15.0 21.7 17.0 16.2
Multilateral to external debt stocks (%) 8.7 14.1 31.6 56.7 50.5 30.3 28.8 32.7
Reserves to external debt stocks (%) 1.5 1.4 7.3 14.8 22.4 29.8 27.0 35.6
Reserves to imports (months) 2.2 1.1 2.5 2.4 2.7 2.7 2.5 4.0
220
NICARAGUA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 30 263 149 1 2 0 0 22
Total amount forgiven 0 2,273 35 167 1,230 1,298 56 16
Debt buyback 0 89 0 0 0 17 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 87 83 87 89 87 94 100 106
Interest 39 40 41 41 40 39 37 35
Private creditors
Principal 295 208 186 110 88 66 55 44
Interest 48 36 24 18 13 9 5 3
Notes:
Nicaragua was granted debt relief effective in 2006 under MDRI.
221
NIGER
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1757.6 1604.0 1708.4 2017.4 829.0 925.3 928.3 991.0
Long-term external debt 1519.1 1480.3 1562.6 1849.3 755.2 846.9 858.7 915.9
Public and publicly guaranteed 1258.1 1346.9 1494.6 1816.7 729.2 827.3 845.6 909.3
Private nonguaranteed 261.0 133.4 68.0 32.6 26.1 19.5 13.0 6.5
Use of IMF credit 84.9 52.1 74.0 127.6 26.5 40.1 50.7 56.7
Short-term external debt 153.6 71.6 71.9 40.5 47.3 38.3 19.0 18.4
interest arrears on long-term 31.3 52.9 59.6 37.5 38.3 38.3 19.0 18.4
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 79.7 74.3 96.7 51.9 45.5 49.2 66.3 57.7
/RQJWHUPSXEOLFVHFWRUGHEW 1255.4 1346.9 1494.6 1816.7 729.2 827.3 845.6 909.3
/RQJWHUPSULYDWHVHFWRUGHEW 263.8 133.4 68.0 32.6 26.1 19.5 13.0 6.5
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 56.3 8.3 64.3 131.5 188.2 51.9 101.3 68.6
External debt flows
Disbursements 147.8 28.3 87.3 152.3 125.9 91.8 109.5 111.2
Long-term external debt 138.7 28.3 76.1 134.9 117.3 79.9 97.6 106.2
IMF purchases 9.2 0.0 11.2 17.4 8.6 11.9 11.9 5.1
Principal repayments 62.8 41.1 15.8 26.8 159.8 16.8 18.4 35.8
Long-term external debt 47.2 30.9 14.0 21.5 45.7 16.8 18.4 35.8
IMF repurchases 15.5 10.2 1.8 5.3 114.1 0.0 0.0 0.0
Net flows 123.3 -9.0 51.5 122.4 -27.9 66.0 91.1 75.4
Long-term external debt 91.5 -2.6 62.1 113.4 71.6 63.1 79.2 70.3
Short-term external debt 38.3 3.8 -20.0 -3.0 6.0 -9.0 0.0 0.0
Interest payments 36.0 14.7 10.2 13.5 10.6 9.6 7.1 8.8
Long-term external debt 23.3 12.5 8.2 12.8 10.1 9.2 6.9 8.5
IMF charges 3.5 1.1 0.3 0.4 0.1 0.2 0.2 0.3
Short-term external debt 9.1 1.0 1.7 0.2 0.4 0.3 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 40.8 7.2 8.4 44.0 50.5 129.0 565.9 738.9
Portfolio equity .. .. 0.5 0.6 0.0 -0.5 1.5 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 11.1 1.2 0.5 0.5 0.8
Japanese yen 1.3 4.4 1.7 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.7 1.0 1.2 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 27.0 36.8 46.7 57.6 47.4 47.2 47.0 45.6
4. Average terms of new commitments
Official creditors
Interest (%) 1.9 0.6 0.7 0.9 0.8 1.6 1.3 0.8
Maturity (years) 31.9 33.5 36.5 34.9 36.7 28.3 36.9 34.8
Grace period (years) 9.2 8.4 9.4 8.8 9.5 7.7 9.2 8.8
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 2423.4 1830.1 1781.9 3396.6 3647.0 4245.2 5337.5 5281.0
Exports of goods, services & income 553.2 327.1 333.7 602.2 640.5 807.1 1004.8 1000.4
Worker remit. & comp. of employees 13.9 7.7 14.4 66.4 78.1 79.4 79.3 79.2
Imports of goods, services & income 802.9 510.3 485.1 1095.4 1117.6 1343.6 1936.4 2360.1
Profit remittances on FDI 22.6 3.8 1.9 20.9 12.5 28.2 23.2 ..
Current account balance -235.9 -151.7 -104.1 -311.5 -313.7 -351.3 .. ..
International reserves 226.5 94.7 80.4 249.5 370.9 593.0 705.2 655.5
6. Ratios
External debt stocks to exports (%) 317.7 490.3 512.0 335.0 129.4 114.6 92.4 99.1
External debt stocks to GNI (%) 72.5 87.6 95.9 59.4 22.7 21.8 17.4 18.8
Debt service to exports (%) 17.8 17.1 7.8 6.7 26.6 3.3 2.5 4.5
Short-term to external debt stocks (%) 8.7 4.5 4.2 2.0 5.7 4.1 2.0 1.9
Multilateral to external debt stocks (%) 40.3 55.0 60.3 78.9 62.5 66.3 67.4 69.1
Reserves to external debt stocks (%) 12.9 5.9 4.7 12.4 44.7 64.1 76.0 66.1
Reserves to imports (months) 3.4 2.2 2.0 2.7 4.0 5.3 4.4 3.3
222
NIGER
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 28.7 4.9 28.0 0.0 0.3 0.0 0.0 0.0
Total amount forgiven 0.4 3.5 0.0 27.6 1205.8 1.4 41.8 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 50.0 45.1 51.8 31.7 31.8 36.4 40.6 43.2
Interest 9.8 10.0 10.2 10.2 10.0 9.8 9.4 8.9
Private creditors
Principal 6.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Data on long-term private nonguaranteed debt are World Bank staff estimates. Niger was granted debt relief effective in 2006 under MDRI.
223
NIGERIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 33,439 34,092 31,355 22,034 7,634 8,628 11,509 7,846
Long-term external debt 31,935 28,441 30,235 20,198 3,744 3,684 4,053 4,332
Public and publicly guaranteed 31,545 28,140 30,020 20,198 3,744 3,509 3,878 4,157
Private nonguaranteed 391 301 215 0 0 175 175 175
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 1,504 5,651 1,120 1,836 3,890 4,944 7,456 3,514
interest arrears on long-term 1,040 4,717 44 3 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1,091 8,102 117 3 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 31,545 28,077 29,964 20,169 3,720 3,491 3,864 4,150
/RQJWHUPSULYDWHVHFWRUGHEW 391 365 271 29 24 194 189 182
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 2,192 0 86 706 507 777 968 985
External debt flows
Disbursements 927 433 153 353 743 689 385 519
Long-term external debt 927 433 153 353 743 689 385 519
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 1,180 918 1,091 3,862 6,441 914 338 339
Long-term external debt 1,180 918 1,091 3,862 6,441 914 338 339
IMF repurchases 0 0 0 0 0 0 0 0
Net flows -34 -559 -696 -3,027 -3,640 828 2,559 -3,762
Long-term external debt -253 -486 -937 -3,510 -5,697 -226 47 180
Short-term external debt 219 -73 241 482 2,057 1,054 2,512 -3,942
Interest payments 2,155 915 754 5,000 373 336 253 171
Long-term external debt 2,123 859 690 4,937 259 93 104 102
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 32 56 64 64 114 243 149 69
2. Other non-debt resource inflows
Foreign direct investment 588 1,079 1,140 4,983 8,825 6,033 4,876 5,787
Portfolio equity 0 0 0 751 1,769 1,447 -954 522
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 36.2 4.1 3.2 2.9 2.2
Japanese yen 8.2 12.6 2.3 9.9 0.0 0.0 0.0 0.0
Pound sterling 11.8 9.9 1.5 17.2 0.3 0.2 0.2 0.1
Swiss franc 0.7 0.6 0.0 1.9 0.0 0.0 0.0 0.0
U.S.dollars 38.8 29.6 85.1 27.2 59.2 58.1 61.9 61.3
4. Average terms of new commitments
Official creditors
Interest (%) 5.8 0.0 1.0 0.7 1.6 0.8 0.8 0.8
Maturity (years) 22.4 0.0 32.9 37.6 28.2 40.7 40.2 39.5
Grace period (years) 6.1 0.0 9.7 10.3 7.1 10.1 9.9 10.0
Private creditors
Interest (%) 7.9 0.0 0.0 0.0 0.0 6.0 0.0 0.0
Maturity (years) 13.1 0.0 0.0 0.0 0.0 10.4 0.0 0.0
Grace period (years) 3.7 0.0 0.0 0.0 0.0 3.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 25,585 25,888 40,256 98,881 141,275 154,068 195,113 155,303
Exports of goods, services & income 14,761 12,443 21,183 57,885 60,985 70,041 88,203 62,581
Worker remit. & comp. of employees 10 804 1,392 3,329 5,435 9,221 9,980 9,585
Imports of goods, services & income 9,858 15,820 15,383 35,773 44,057 57,075 75,323 57,669
Profit remittances on FDI 135 1,330 2,279 2,603 9,739 13,054 14,291 10,750
Current account balance 4,988 -2,578 7,427 37,264 33,872 30,829 31,624 22,889
International reserves 4,129 1,709 10,099 28,632 42,735 51,907 53,599 45,510
6. Ratios
External debt stocks to exports (%) 226.5 274.0 148.0 38.1 12.5 12.3 13.0 12.5
External debt stocks to GNI (%) 130.7 131.7 77.9 22.3 5.4 5.6 5.9 5.1
Debt service to exports (%) 22.6 14.7 8.7 15.3 11.2 1.8 0.7 0.8
Short-term to external debt stocks (%) 4.5 16.6 3.6 8.3 51.0 57.3 64.8 44.8
Multilateral to external debt stocks (%) 11.2 14.5 10.5 11.5 35.2 33.7 26.1 43.2
Reserves to external debt stocks (%) 12.3 5.0 32.2 129.9 559.8 601.6 465.7 580.1
Reserves to imports (months) 5.0 1.3 7.9 9.6 11.6 10.9 8.5 9.5
224
NIGERIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 1,480 0 20,920 0 1 0 0 0
Total amount forgiven 286 95 0 7,284 10,891 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 279 238 195 194 167 92 105 125
Interest 68 58 53 49 45 43 43 42
Private creditors
Principal 90 86 86 12 0 0 0 175
Interest 30 25 20 17 17 17 17 0
Notes:
Long-term private nonguaranteed debt data only cover Bonds.
225
PAKISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 20,589 30,169 32,732 33,269 36,111 40,892 48,471 53,710
Long-term external debt 16,569 25,321 29,684 30,547 33,327 37,282 42,750 44,749
Public and publicly guaranteed 16,432 23,727 27,124 29,584 32,420 36,089 39,566 41,484
Private nonguaranteed 138 1,593 2,560 964 907 1,193 3,184 3,265
Use of IMF credit 835 1,613 1,529 1,492 1,462 1,381 4,352 7,495
Short-term external debt 3,185 3,235 1,519 1,230 1,322 2,228 1,370 1,466
interest arrears on long-term 1 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 15 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 16,300 23,634 26,946 29,569 32,406 36,075 39,551 41,470
/RQJWHUPSULYDWHVHFWRUGHEW 269 1,687 2,738 978 921 1,207 3,198 3,278
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 2,925 2,257 865 4,260 3,396 3,668 3,535 4,934
External debt flows
Disbursements 1,746 3,288 1,838 2,802 3,385 3,703 6,792 7,414
Long-term external debt 1,746 3,086 1,644 2,802 3,385 3,703 3,591 4,099
IMF purchases 0 202 195 0 0 0 3,201 3,315
Principal repayments 1,071 2,013 1,870 1,698 1,439 1,525 1,899 2,430
Long-term external debt 905 1,837 1,587 1,461 1,332 1,373 1,719 2,199
IMF repurchases 166 176 282 237 107 152 180 231
Net flows 1,089 2,572 -343 1,090 2,039 3,084 4,034 5,080
Long-term external debt 841 1,249 56 1,342 2,054 2,330 1,872 1,900
Short-term external debt 414 1,297 -311 -15 92 906 -858 96
Interest payments 831 1,203 985 727 853 1,094 1,052 1,002
Long-term external debt 515 955 857 658 789 973 1,001 884
IMF charges 52 45 49 13 11 9 7 67
Short-term external debt 264 202 78 56 54 111 43 51
2. Other non-debt resource inflows
Foreign direct investment 245 723 308 2,201 4,273 5,590 5,438 2,387
Portfolio equity 0 10 35 451 1,152 1,276 -270 -37
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 11.6 11.6 11.3 9.7 9.5
Japanese yen 13.6 15.2 16.9 17.7 16.3 15.6 18.1 17.2
Pound sterling 1.5 0.8 0.7 0.4 0.3 0.3 0.2 0.2
Swiss franc 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2
U.S.dollars 35.9 31.3 41.6 41.9 44.2 44.0 43.8 45.7
4. Average terms of new commitments
Official creditors
Interest (%) 5.2 5.0 6.2 1.8 4.1 3.0 2.2 1.7
Maturity (years) 22.9 18.7 12.8 26.9 21.2 28.8 23.3 24.4
Grace period (years) 6.1 5.5 3.1 8.2 6.1 7.8 6.2 7.1
Private creditors
Interest (%) 8.8 7.0 8.0 5.2 7.4 6.7 0.0 0.0
Maturity (years) 11.3 4.4 5.3 5.0 17.5 9.0 0.0 0.0
Grace period (years) 4.8 0.9 1.0 5.0 17.5 8.8 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 41,735 61,092 73,025 111,867 130,007 145,806 168,547 171,733
Exports of goods, services & income 6,931 10,400 10,237 19,768 21,419 23,312 26,762 22,831
Worker remit. & comp. of employees 2,006 1,712 1,075 4,280 5,121 5,998 7,039 8,720
Imports of goods, services & income 11,386 16,311 14,484 32,453 39,110 42,683 53,561 39,238
Profit remittances on FDI 53 300 429 1,871 2,580 2,974 3,203 2,556
Current account balance -1,661 -3,349 -85 -3,606 -6,750 -8,286 -15,663 ..
International reserves 1,046 2,528 2,087 11,109 12,878 15,798 9,024 13,606
6. Ratios
External debt stocks to exports (%) 297.1 290.1 319.7 168.3 168.6 175.4 181.1 235.2
External debt stocks to GNI (%) 49.3 49.4 44.8 29.7 27.8 28.0 28.8 31.3
Debt service to exports (%) 27.4 30.9 27.9 12.3 10.7 11.2 11.0 15.0
Short-term to external debt stocks (%) 15.5 10.7 4.6 3.7 3.7 5.4 2.8 2.7
Multilateral to external debt stocks (%) 33.5 40.4 41.2 47.8 48.8 48.7 45.5 43.8
Reserves to external debt stocks (%) 5.1 8.4 6.4 33.4 35.7 38.6 18.6 25.3
Reserves to imports (months) 1.1 1.9 1.7 4.1 4.0 4.4 2.0 4.2
226
PAKISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 918 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 1 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,544 1,544 2,111 1,682 1,754 1,820 1,836 2,159
Interest 675 666 648 621 596 568 546 514
Private creditors
Principal 1,952 484 436 517 218 170 633 847
Interest 256 216 191 164 140 131 104 55
227
PANAMA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 6,492 6,098 6,567 9,253 10,392 10,241 10,721 12,418
Long-term external debt 3,841 3,781 6,476 9,229 10,377 10,236 10,721 12,418
Public and publicly guaranteed 3,841 3,781 5,696 7,487 8,683 9,175 9,610 11,282
Private nonguaranteed 0 0 780 1,742 1,694 1,061 1,111 1,136
Use of IMF credit 272 111 90 24 15 5 0 0
Short-term external debt 2,378 2,207 1 0 0 0 0 0
interest arrears on long-term 978 1,608 1 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1,981 1,996 1 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 3,841 3,781 5,696 7,487 8,683 9,175 9,610 11,282
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 780 1,742 1,694 1,061 1,111 1,136
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 4 116 478 1,265 2,699 350 827 1,732
External debt flows
Disbursements 6 112 724 1,595 3,029 679 704 1,890
Long-term external debt 6 99 724 1,595 3,029 679 704 1,890
IMF purchases 0 13 0 0 0 0 0 0
Principal repayments 121 172 462 1,412 2,226 181 916 190
Long-term external debt 51 133 410 1,403 2,216 171 910 190
IMF repurchases 70 39 52 10 10 10 5 0
Net flows -115 -925 262 182 804 498 -211 1,700
Long-term external debt -44 -34 314 192 814 509 -206 1,700
Short-term external debt 0 -866 0 0 0 0 0 0
Interest payments 223 144 424 655 835 730 765 791
Long-term external debt 90 101 418 653 834 730 765 791
IMF charges 16 7 7 1 1 1 0 0
Short-term external debt 117 36 0 0 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment 136 223 624 918 2,557 1,777 2,402 1,773
Portfolio equity -1 0 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 0.0 0.0 0.0 0.0 0.0
Japanese yen 9.8 10.4 1.8 0.9 0.7 0.6 0.7 0.8
Pound sterling 0.7 0.4 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 62.2 70.8 91.9 96.5 97.4 97.9 98.1 98.4
4. Average terms of new commitments
Official creditors
Interest (%) 5.0 6.9 5.8 4.7 5.7 3.3 4.3 1.6
Maturity (years) 8.3 21.2 22.8 19.9 17.9 21.6 20.3 21.4
Grace period (years) 4.8 4.6 4.6 5.1 4.0 5.8 4.7 3.5
Private creditors
Interest (%) 0.0 3.3 10.4 7.3 4.0 0.0 1.2 5.5
Maturity (years) 0.0 14.7 19.0 22.2 21.4 0.0 11.1 10.4
Grace period (years) 0.0 3.1 19.0 22.2 21.4 0.0 7.8 9.9
5. Major economic aggregates
Gross national income (GNI) 5,051 7,542 11,007 14,340 15,859 18,483 21,605 23,661
Exports of goods, services & income 5,577 9,254 9,408 11,661 13,879 16,156 18,041 17,847
Worker remit. & comp. of employees 110 112 16 130 157 180 196 175
Imports of goods, services & income 5,588 9,878 10,258 12,925 14,579 17,816 20,956 18,061
Profit remittances on FDI 196 396 562 1,048 1,197 1,521 1,747 1,397
Current account balance 209 -471 -673 -1,022 -448 -1,407 -2,677 -4
International reserves 344 781 723 1,211 1,335 1,935 2,424 3,028
6. Ratios
External debt stocks to exports (%) 116.4 65.9 69.8 79.3 74.9 63.4 59.4 69.6
External debt stocks to GNI (%) 128.5 80.9 59.7 64.5 65.5 55.4 49.6 52.5
Debt service to exports (%) 6.2 3.4 9.4 17.7 22.1 5.6 9.3 5.5
Short-term to external debt stocks (%) 36.6 36.2 0.0 .. .. .. .. ..
Multilateral to external debt stocks (%) 15.5 10.0 15.5 12.0 11.2 12.0 12.5 13.1
Reserves to external debt stocks (%) 5.3 12.8 11.0 13.1 12.8 18.9 22.6 24.4
Reserves to imports (months) 0.7 0.9 0.8 1.1 1.1 1.3 1.4 2.0
228
PANAMA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 5 0 0 0 0 0 0
Total amount forgiven 0 0 477 0 0 0 7 0
Debt buyback 0 0 120 0 203 0 21 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 177 179 184 191 202 191 180 168
Interest 63 59 55 50 45 40 35 30
Private creditors
Principal 324 343 1,263 34 488 2,655 36 36
Interest 671 670 609 550 550 516 401 400
Notes:
Long-term private nonguaranteed debt data only cover Bonds. Short-term debt data are excluded since BIS data include debt liabilities of offshore centers
located in the country. BIS short-term debt data for 2007, 2008, and 2009 are $19,052 millions, and $16,713 millions, and $16,306 millions respectively.
229
PAPUA NEW GUINEA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,594 2,506 2,292 1,880 1,826 1,430 1,418 1,555
Long-term external debt 2,461 2,378 2,204 1,648 1,659 1,339 1,409 1,434
Public and publicly guaranteed 1,523 1,668 1,454 1,262 1,208 1,126 1,064 1,037
Private nonguaranteed 938 711 750 387 451 213 345 397
Use of IMF credit 61 50 39 0 0 0 0 0
Short-term external debt 72 78 49 232 167 91 9 121
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 1,501 1,667 1,440 1,262 1,208 1,126 1,064 1,037
/RQJWHUPSULYDWHVHFWRUGHEW 960 711 764 387 451 213 345 397
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 247 175 319 0 53 37 133 122
External debt flows
Disbursements 681 240 293 335 267 615 951 516
Long-term external debt 623 189 254 335 267 615 951 516
IMF purchases 58 51 38 0 0 0 0 0
Principal repayments 391 509 215 244 270 947 933 514
Long-term external debt 388 493 196 183 270 947 933 514
IMF repurchases 3 16 19 61 0 0 0 0
Net flows 197 -291 30 214 -68 -408 -64 115
Long-term external debt 235 -304 59 152 -3 -332 18 3
Short-term external debt -93 -21 -48 123 -65 -76 -82 112
Interest payments 162 117 90 63 56 60 42 29
Long-term external debt 156 111 85 54 46 55 40 28
IMF charges 0 1 1 1 0 0 0 0
Short-term external debt 6 5 4 9 10 5 2 1
2. Other non-debt resource inflows
Foreign direct investment 155 455 96 34 -7 96 -30 424
Portfolio equity 0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.8 4.2 4.6 4.3 4.4
Japanese yen 20.4 21.3 30.1 29.8 29.0 30.0 29.4 27.4
Pound sterling 2.1 0.6 0.8 0.0 0.0 0.0 0.0 0.0
Swiss franc 1.5 0.0 0.0 0.1 0.1 0.1 0.1 0.0
U.S.dollars 27.3 19.4 21.3 33.8 36.9 36.3 38.6 39.4
4. Average terms of new commitments
Official creditors
Interest (%) 5.7 5.2 6.5 0.0 4.4 0.8 2.1 1.7
Maturity (years) 17.3 10.6 17.3 0.0 26.1 34.7 28.2 32.1
Grace period (years) 4.9 4.4 5.1 0.0 5.2 10.2 6.7 8.5
Private creditors
Interest (%) 7.2 0.0 6.2 0.0 0.0 0.0 0.0 0.0
Maturity (years) 9.5 0.0 5.3 0.0 0.0 0.0 0.0 0.0
Grace period (years) 3.2 0.0 2.5 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 3,096 4,370 3,303 4,531 4,931 6,261 7,931 7,833
Exports of goods, services & income 1,487 3,014 2,369 3,606 4,594 5,231 6,237 4,633
Worker remit. & comp. of employees 5 16 7 13 13 13 13 13
Imports of goods, services & income 1,719 2,415 2,013 3,257 3,472 4,371 4,953 4,720
Profit remittances on FDI 158 409 198 475 .. .. .. ..
Current account balance -76 674 351 640 .. .. .. ..
International reserves 427 267 304 750 1,441 2,106 2,008 2,629
6. Ratios
External debt stocks to exports (%) 174.4 83.1 96.8 52.1 39.7 27.3 22.7 33.6
External debt stocks to GNI (%) 83.8 57.3 69.4 41.5 37.0 22.8 17.9 19.9
Debt service to exports (%) 37.2 20.8 12.9 8.5 7.1 19.3 15.6 11.7
Short-term to external debt stocks (%) 2.8 3.1 2.2 12.3 9.1 6.4 0.6 7.8
Multilateral to external debt stocks (%) 29.5 37.4 36.1 44.4 44.6 52.4 50.8 46.6
Reserves to external debt stocks (%) 16.5 10.6 13.3 39.9 78.9 147.2 141.7 169.1
Reserves to imports (months) 3.0 1.3 1.8 2.8 5.0 5.8 4.9 6.7
230
PAPUA NEW GUINEA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 85 90 68 71 71 72 74 75
Interest 20 19 18 17 16 15 14 13
Private creditors
Principal 114 83 75 47 39 24 20 16
Interest 23 17 12 9 6 4 3 2
Notes:
Long-term private nonguaranteed debt data from 2003 to 2008 has been revised based on reports provided by the country.
231
PARAGUAY
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,105 2,574 3,089 3,229 3,422 3,570 4,161 4,323
Long-term external debt 1,732 1,791 2,510 2,716 2,711 2,767 3,015 3,571
Public and publicly guaranteed 1,713 1,453 2,060 2,265 2,235 2,195 2,263 2,308
Private nonguaranteed 19 338 450 450 477 572 751 1,263
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 373 784 580 513 711 803 1,146 752
interest arrears on long-term 115 7 11 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 321 60 55 8 8 8 7 7
/RQJWHUPSXEOLFVHFWRUGHEW 1,713 1,453 2,060 2,265 2,235 2,195 2,263 2,308
/RQJWHUPSULYDWHVHFWRUGHEW 19 338 450 450 477 572 751 1,263
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 117 363 125 99 608 43 171 411
External debt flows
Disbursements 77 224 192 210 244 206 377 778
Long-term external debt 77 224 192 210 244 206 377 778
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 235 159 205 332 269 258 296 309
Long-term external debt 235 159 205 332 269 258 296 309
IMF repurchases 0 0 0 0 0 0 0 0
Net flows -83 261 -185 -275 173 39 423 75
Long-term external debt -158 65 -13 -122 -25 -53 80 469
Short-term external debt 75 196 -173 -153 198 92 343 -394
Interest payments 90 135 148 144 152 166 165 135
Long-term external debt 77 93 115 115 121 135 136 123
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 13 42 33 29 31 30 29 12
2. Other non-debt resource inflows
Foreign direct investment 77 103 104 54 173 206 228 274
Portfolio equity 0 0 0 0 0 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.6 2.6 2.8 2.8 2.5
Japanese yen 15.6 22.7 15.0 13.4 13.7 14.0 18.6 19.7
Pound sterling 2.0 0.3 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.3 0.1 0.1 0.0 0.0 0.0 0.0 0.0
U.S.dollars 17.2 28.8 60.1 68.4 68.8 68.9 66.0 67.3
4. Average terms of new commitments
Official creditors
Interest (%) 3.5 5.5 6.4 4.5 4.3 5.3 3.7 2.3
Maturity (years) 34.4 19.3 21.8 16.4 27.3 23.0 27.4 25.7
Grace period (years) 10.1 5.6 3.0 4.7 7.6 9.9 6.1 6.5
Private creditors
Interest (%) 0.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 9.8 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 2.3 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 5,381 8,176 7,094 7,486 9,790 12,456 16,711 14,670
Exports of goods, services & income 2,631 5,075 3,185 4,213 5,497 6,951 9,304 7,317
Worker remit. & comp. of employees 34 287 278 269 463 484 579 555
Imports of goods, services & income 2,284 5,363 3,524 4,421 5,795 7,140 10,094 8,013
Profit remittances on FDI 17 62 84 158 271 365 490 509
Current account balance 390 -92 -163 16 128 184 -385 -196
International reserves 675 1,106 772 1,297 1,702 2,461 2,863 3,862
6. Ratios
External debt stocks to exports (%) 80.0 50.7 97.0 76.6 62.3 51.4 44.7 59.1
External debt stocks to GNI (%) 39.1 31.5 43.6 43.1 35.0 28.7 24.9 29.5
Debt service to exports (%) 12.4 5.8 11.1 11.3 7.7 6.1 5.0 6.1
Short-term to external debt stocks (%) 17.7 30.4 18.8 15.9 20.8 22.5 27.5 17.4
Multilateral to external debt stocks (%) 34.8 30.2 36.9 39.0 37.6 36.3 31.1 32.3
Reserves to external debt stocks (%) 32.1 43.0 25.0 40.2 49.7 69.0 68.8 89.3
Reserves to imports (months) 3.5 2.5 2.6 3.5 3.5 4.1 3.4 5.8
232
PARAGUAY
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 111 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 248 222 207 178 163 180 181 174
Interest 65 58 52 46 42 39 35 30
Private creditors
Principal 371 268 242 153 128 103 90 78
Interest 70 52 38 27 20 14 10 6
233
PERU
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 20,044 30,833 28,623 28,938 28,499 28,422 27,881 29,593
Long-term external debt 13,959 20,219 24,137 25,670 25,468 23,089 22,461 24,863
Public and publicly guaranteed 13,629 18,931 19,199 22,500 22,150 19,820 19,384 20,791
Private nonguaranteed 330 1,288 4,938 3,170 3,318 3,269 3,078 4,073
Use of IMF credit 755 955 558 57 20 0 0 0
Short-term external debt 5,330 9,659 3,928 3,210 3,011 5,333 5,419 4,730
interest arrears on long-term 3,713 4,584 14 2 16 16 21 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 8,345 4,150 29 1 33 7 9 0
/RQJWHUPSXEOLFVHFWRUGHEW 13,584 18,925 17,928 21,602 21,329 19,009 18,679 20,200
/RQJWHUPSULYDWHVHFWRUGHEW 376 1,294 6,209 4,067 4,138 4,080 3,783 4,663
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 179 930 1,263 2,191 704 3,018 1,343 5,218
External debt flows
Disbursements 289 880 2,064 2,769 1,690 6,174 1,549 5,723
Long-term external debt 289 880 2,064 2,769 1,690 6,174 1,549 5,723
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 229 521 1,138 4,032 2,060 6,502 3,209 2,431
Long-term external debt 166 521 997 3,993 2,021 6,481 3,209 2,431
IMF repurchases 63 0 141 40 39 20 0 0
Net flows 126 3,148 288 -802 -583 1,994 -1,579 2,624
Long-term external debt 123 359 1,067 -1,224 -330 -307 -1,660 3,292
Short-term external debt 66 2,789 -638 461 -213 2,322 81 -668
Interest payments 247 721 1,432 1,722 1,703 2,151 1,727 1,352
Long-term external debt 91 485 1,172 1,601 1,555 1,975 1,538 1,186
IMF charges 74 52 33 3 2 0 0 0
Short-term external debt 82 184 227 118 146 176 189 166
2. Other non-debt resource inflows
Foreign direct investment 41 2,557 810 2,579 3,467 5,491 6,924 4,760
Portfolio equity 0 171 123 769 -45 70 85 47
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 7.0 7.7 8.2 11.1 7.1
Japanese yen 6.3 14.6 13.8 9.1 8.9 10.2 13.6 12.1
Pound sterling 0.9 1.2 0.4 0.1 0.1 0.0 0.0 0.0
Swiss franc 1.5 1.2 0.5 0.1 0.0 0.0 0.0 0.0
U.S.dollars 48.0 41.9 73.8 80.5 80.3 78.8 72.7 77.9
4. Average terms of new commitments
Official creditors
Interest (%) 7.1 6.2 5.8 5.0 5.2 5.5 3.4 1.4
Maturity (years) 9.2 17.4 22.0 16.4 17.2 16.6 18.7 19.4
Grace period (years) 2.4 4.6 5.0 7.0 6.5 5.6 7.1 5.8
Private creditors
Interest (%) 5.5 0.0 9.0 7.7 0.0 7.5 0.0 7.2
Maturity (years) 6.7 0.0 5.0 22.0 0.0 21.8 0.0 13.0
Grace period (years) 1.3 0.0 0.1 22.0 0.0 20.6 0.0 13.0
5. Major economic aggregates
Gross national income (GNI) 25,509 51,140 51,878 74,141 84,519 98,864 120,640 119,363
Exports of goods, services & income 4,315 7,197 9,247 20,282 27,540 32,620 37,016 31,970
Worker remit. & comp. of employees 87 599 718 1,440 1,837 2,131 2,444 2,378
Imports of goods, services & income 6,015 12,653 11,794 20,906 26,853 33,884 44,661 34,580
Profit remittances on FDI 15 834 344 4,030 6,741 7,788 8,346 7,064
Current account balance -1,419 -4,625 -1,546 1,148 2,872 1,363 -4,723 247
International reserves 1,891 8,653 8,676 14,171 17,442 27,786 31,241 33,225
6. Ratios
External debt stocks to exports (%) 464.5 428.4 309.5 142.7 103.5 87.1 75.3 92.6
External debt stocks to GNI (%) 78.6 60.3 55.2 39.0 33.7 28.7 23.1 24.8
Debt service to exports (%) 11.0 17.3 27.8 28.4 13.7 26.5 13.3 11.8
Short-term to external debt stocks (%) 26.6 31.3 13.7 11.1 10.6 18.8 19.4 16.0
Multilateral to external debt stocks (%) 11.0 12.1 19.3 27.2 27.4 27.9 28.7 28.3
Reserves to external debt stocks (%) 9.4 28.1 30.3 49.0 61.2 97.8 112.1 112.3
Reserves to imports (months) 3.8 8.2 8.8 8.1 7.8 9.8 8.4 11.5
234
PERU
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 919 1 21 0 0 0 30
Total amount forgiven 0 0 0 66 27 61 56 32
Debt buyback 0 0 0 0 0 2,343 838 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,004 991 1,203 1,131 1,018 962 979 880
Interest 308 278 249 216 184 158 134 112
Private creditors
Principal 313 334 646 195 1,256 925 1,795 778
Interest 847 832 805 779 772 654 530 471
Notes:
Data on long-term private nonguaranteed debt for 2009 are World Bank staff estimates. Data for 2007 include Bond prepayment and prepayment to Paris Club
creditors. Short-term debt is based on reports provided by the country.
235
PHILIPPINES
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 30,580 39,379 58,304 61,658 60,282 65,910 64,875 62,911
Long-term external debt 25,241 33,372 50,777 54,874 55,273 58,826 57,874 58,909
Public and publicly guaranteed 24,040 28,525 33,744 35,364 36,751 37,959 39,077 41,738
Private nonguaranteed 1,201 4,847 17,033 19,510 18,522 20,867 18,797 17,171
Use of IMF credit 912 728 2,032 389 0 0 0 0
Short-term external debt 4,427 5,279 5,495 6,395 5,009 7,084 7,001 4,002
interest arrears on long-term 52 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 182 0 1 1 2 0 1 0
/RQJWHUPSXEOLFVHFWRUGHEW 23,667 28,369 33,674 35,295 36,685 37,894 39,001 41,667
/RQJWHUPSULYDWHVHFWRUGHEW 1,573 5,003 17,103 19,579 18,588 20,932 18,873 17,242
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 3,520 2,594 5,353 3,775 3,965 2,544 3,135 7,773
External debt flows
Disbursements 2,516 2,840 6,060 6,525 8,772 8,876 5,174 9,749
Long-term external debt 2,516 2,840 5,747 6,525 8,772 8,876 5,174 9,749
IMF purchases 0 0 313 0 0 0 0 0
Principal repayments 1,818 3,099 4,055 6,403 9,800 6,340 8,219 6,380
Long-term external debt 1,473 2,737 4,047 6,085 9,399 6,340 8,219 6,380
IMF repurchases 345 363 8 317 400 0 0 0
Net flows 1,123 -696 2,551 1,472 -2,414 4,611 -3,128 370
Long-term external debt 1,043 104 1,700 440 -628 2,536 -3,045 3,369
Short-term external debt 425 -437 546 1,349 -1,386 2,075 -83 -2,999
Interest payments 1,772 2,264 3,004 3,559 3,899 3,796 3,980 3,501
Long-term external debt 1,573 1,859 2,469 3,254 3,521 3,450 3,697 3,430
IMF charges 99 55 94 20 15 2 0 0
Short-term external debt 100 351 442 286 363 345 284 70
2. Other non-debt resource inflows
Foreign direct investment 530 1,478 2,240 1,854 2,921 2,916 1,544 1,948
Portfolio equity 0 0 -202 1,465 2,525 3,178 -1,289 -1,096
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.5 5.8 5.9 5.2 5.2
Japanese yen 31.0 39.2 38.2 34.7 32.6 33.3 38.5 33.7
Pound sterling 1.0 0.2 0.1 0.1 0.1 0.0 0.0 0.0
Swiss franc 0.5 0.3 0.1 0.2 0.2 0.2 0.1 0.1
U.S.dollars 36.2 27.3 42.2 49.5 52.9 52.7 49.6 55.9
4. Average terms of new commitments
Official creditors
Interest (%) 5.1 4.3 3.3 3.1 5.3 4.4 2.6 1.1
Maturity (years) 24.4 26.7 28.1 19.8 17.2 21.1 22.4 19.9
Grace period (years) 7.3 7.8 7.3 5.4 5.1 6.5 6.4 6.3
Private creditors
Interest (%) 9.2 7.1 8.3 7.6 8.0 6.4 4.6 7.1
Maturity (years) 15.1 11.0 11.4 10.8 19.2 24.6 16.7 13.8
Grace period (years) 7.6 10.2 10.8 10.2 19.2 24.5 12.3 13.4
5. Major economic aggregates
Gross national income (GNI) 44,073 76,166 80,695 98,535 116,289 143,146 167,602 160,407
Exports of goods, services & income 13,028 32,862 44,060 48,725 57,358 64,629 63,941 53,323
Worker remit. & comp. of employees 1,465 5,360 6,961 13,566 15,251 16,302 18,642 19,766
Imports of goods, services & income 16,437 35,722 51,928 58,132 65,208 71,663 75,557 60,731
Profit remittances on FDI 311 515 230 1,391 2,015 2,133 1,675 2,042
Current account balance -2,695 -1,980 -2,225 1,984 5,347 7,119 3,631 8,552
International reserves 2,036 7,781 15,074 18,474 22,963 33,740 37,498 44,206
6. Ratios
External debt stocks to exports (%) 234.7 119.8 132.3 126.5 105.1 102.0 101.5 118.0
External debt stocks to GNI (%) 69.4 51.7 72.3 62.6 51.8 46.0 38.7 39.2
Debt service to exports (%) 27.6 16.3 16.0 20.4 23.9 15.7 19.1 18.5
Short-term to external debt stocks (%) 14.5 13.4 9.4 10.4 8.3 10.7 10.8 6.4
Multilateral to external debt stocks (%) 20.5 21.6 12.4 10.7 11.4 11.0 11.4 13.4
Reserves to external debt stocks (%) 6.7 19.8 25.9 30.0 38.1 51.2 57.8 70.3
Reserves to imports (months) 1.5 2.6 3.5 3.8 4.2 5.6 6.0 8.7
236
PHILIPPINES
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 1,068 0 0 0 0 0 0 0
Total amount forgiven 1,082 0 0 0 0 0 0 0
Debt buyback 721 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,941 1,921 1,865 2,032 1,822 1,506 1,447 1,399
Interest 481 436 393 353 314 283 254 227
Private creditors
Principal 3,625 3,294 1,862 2,316 2,688 2,301 3,981 2,418
Interest 1,752 1,610 1,495 1,440 1,389 1,247 1,140 946
Notes:
Long-term private nonguaranteed debt includes the following monitored aggregate private-sector debt: unregistered debt, intercompany debt and capital leases.
Short-term debt is based on reports provided by the country.
237
ROMANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,140 6,832 11,160 38,861 53,939 84,166 102,491 117,511
Long-term external debt 230 4,491 9,945 31,187 37,265 54,837 73,827 86,935
Public and publicly guaranteed 223 3,957 6,583 13,330 14,185 15,200 14,988 17,904
Private nonguaranteed 7 534 3,362 17,858 23,081 39,636 58,839 69,031
Use of IMF credit 0 1,038 453 261 104 0 0 9,544
Short-term external debt 910 1,303 763 7,413 16,570 29,330 28,664 21,032
interest arrears on long-term 0 0 12 13 10 10 6 5
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 16 37 260 256 238 7
/RQJWHUPSXEOLFVHFWRUGHEW 223 3,899 6,440 12,962 13,820 14,834 14,743 17,660
/RQJWHUPSULYDWHVHFWRUGHEW 7 592 3,505 18,225 23,445 40,003 59,084 69,274
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 132 1,641 2,864 2,897 2,515 985 3,335 7,441
External debt flows
Disbursements 26 1,513 3,258 12,918 11,226 20,884 32,513 32,596
Long-term external debt 26 1,455 3,144 12,918 11,226 20,884 32,513 23,206
IMF purchases 0 57 114 0 0 0 0 9,391
Principal repayments 4 675 1,801 5,331 6,472 8,325 14,427 13,163
Long-term external debt 4 302 1,705 5,179 6,304 8,219 14,427 13,163
IMF repurchases 0 373 96 152 167 105 0 0
Net flows 44 1,174 1,843 10,619 13,916 25,319 17,424 11,803
Long-term external debt 22 1,153 1,439 7,739 4,922 12,665 18,086 10,043
Short-term external debt 22 337 386 3,032 9,161 12,760 -662 -7,631
Interest payments 14 321 698 1,587 2,176 3,243 3,607 3,171
Long-term external debt 0 206 632 1,248 1,404 1,956 2,904 2,777
IMF charges 0 69 24 13 10 3 0 77
Short-term external debt 14 47 42 326 762 1,284 703 318
2. Other non-debt resource inflows
Foreign direct investment 0 419 1,037 6,482 11,393 9,925 13,883 6,310
Portfolio equity 0 0 58 229 301 746 23 7
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 58.9 64.0 69.3 71.9 78.8
Japanese yen 0.0 2.7 5.3 3.2 3.5 3.4 4.5 3.6
Pound sterling 0.0 0.0 0.0 1.3 1.1 0.7 0.3 0.1
Swiss franc 89.5 1.8 0.9 0.7 0.6 0.5 0.4 0.2
U.S.dollars 9.8 34.4 42.5 26.9 22.8 18.9 17.3 13.4
4. Average terms of new commitments
Official creditors
Interest (%) 2.7 6.0 5.9 2.1 3.6 4.6 4.0 3.0
Maturity (years) 25.5 13.3 17.1 23.0 19.0 20.0 14.4 11.5
Grace period (years) 10.0 4.3 4.2 6.4 5.3 5.9 12.7 5.5
Private creditors
Interest (%) 8.4 6.9 9.1 3.8 4.1 5.2 6.5 6.3
Maturity (years) 8.2 7.2 5.8 10.0 11.9 11.0 10.8 10.1
Grace period (years) 3.6 2.7 2.5 7.8 3.8 3.2 9.3 1.4
5. Major economic aggregates
Gross national income (GNI) 38,159 35,236 36,768 98,008 119,825 169,088 199,261 164,073
Exports of goods, services & income 6,555 9,485 12,438 34,346 41,545 53,315 65,946 51,963
Worker remit. & comp. of employees .. 9 96 4,733 6,718 8,542 9,381 4,928
Imports of goods, services & income 9,915 11,628 14,653 47,298 60,454 83,013 98,549 64,739
Profit remittances on FDI 0 28 72 2,926 4,164 5,988 4,362 1,536
Current account balance -3,254 -1,774 -1,355 -8,504 -12,785 -23,080 -23,719 -7,139
International reserves 1,374 2,624 3,396 21,601 30,206 39,974 39,768 45,796
6. Ratios
External debt stocks to exports (%) 17.4 72.0 89.7 113.1 129.8 157.9 155.4 226.1
External debt stocks to GNI (%) 3.0 19.4 30.4 39.7 45.0 49.8 51.4 71.6
Debt service to exports (%) 0.3 10.5 20.1 20.1 20.8 21.7 27.3 31.4
Short-term to external debt stocks (%) 79.8 19.1 6.8 19.1 30.7 34.8 28.0 17.9
Multilateral to external debt stocks (%) .. 24.7 30.1 14.4 11.3 8.0 7.1 9.0
Reserves to external debt stocks (%) 120.5 38.4 30.4 55.6 56.0 47.5 38.8 39.0
Reserves to imports (months) 1.7 2.7 2.8 5.5 6.0 5.8 4.8 8.5
238
ROMANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 975 804 926 1,010 1,668 2,204 2,129 2,063
Interest 338 394 428 441 439 396 341 285
Private creditors
Principal 8,201 7,148 8,088 6,889 6,915 7,188 6,394 6,297
Interest 1,458 1,278 1,107 940 818 702 568 466
Notes:
Short-term debt is based on reports provided by the country.
239
RUSSIAN FEDERATION
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 58,670 121,401 159,993 229,911 250,746 368,075 402,453 381,339
Long-term external debt 46,870 101,582 132,751 202,780 210,294 288,970 347,798 350,715
Public and publicly guaranteed 46,870 101,582 110,989 86,877 71,466 106,659 103,246 99,990
Private nonguaranteed 0 0 21,762 115,903 138,828 182,310 244,552 250,725
Use of IMF credit 0 9,617 11,613 0 0 0 0 0
Short-term external debt 11,800 10,201 15,630 27,131 40,453 79,106 54,655 30,624
interest arrears on long-term 4,500 5,851 4,530 3,151 747 606 655 424
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 22,417 7,368 2,064 506 39 153 36
/RQJWHUPSXEOLFVHFWRUGHEW 46,870 101,582 110,989 86,877 71,466 106,659 103,246 99,990
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 21,762 115,903 138,828 182,310 244,552 250,725
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 17,221 3,154 76 11,545 13,004 45,956 23,462 10,123
External debt flows
Disbursements 16,270 8,536 1,387 55,068 39,326 96,278 81,804 53,467
Long-term external debt 16,270 3,083 1,387 55,068 39,326 96,278 81,804 53,467
IMF purchases 0 5,453 0 0 0 0 0 0
Principal repayments 7,893 3,273 6,221 32,475 37,396 24,449 44,568 49,168
Long-term external debt 7,893 3,273 3,333 29,086 37,396 24,449 44,568 49,168
IMF repurchases 0 0 2,888 3,389 0 0 0 0
Net flows -2,023 4,913 -2,835 23,227 17,656 110,623 12,735 -19,501
Long-term external debt 8,377 -190 -1,947 25,982 1,930 71,829 37,235 4,299
Short-term external debt -10,400 -350 2,000 634 15,726 38,794 -24,500 -23,800
Interest payments 3,853 2,885 5,604 9,446 12,888 16,109 22,541 18,193
Long-term external debt 2,611 2,591 4,284 8,569 11,597 13,745 20,686 17,654
IMF charges 0 294 691 27 0 0 0 0
Short-term external debt 1,242 0 630 850 1,291 2,364 1,855 539
2. Other non-debt resource inflows
Foreign direct investment .. 2,065 2,714 12,886 29,701 55,073 75,002 37,134
Portfolio equity .. 47 150 -100 6,480 18,675 -15,005 1,997
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 10.2 4.9 3.5 4.8 5.5
Japanese yen 3.0 2.0 0.8 1.2 1.2 0.8 0.7 0.7
Pound sterling 2.4 0.8 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 6.6 2.8 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 34.3 52.1 71.6 83.4 87.4 92.0 91.0 90.9
4. Average terms of new commitments
Official creditors
Interest (%) 8.3 7.0 7.3 4.4 0.0 3.5 0.0 0.7
Maturity (years) 10.6 16.7 16.8 17.3 4.3 11.1 0.0 13.3
Grace period (years) 5.9 5.6 5.3 4.8 3.3 3.3 0.0 3.8
Private creditors
Interest (%) 8.3 7.0 7.1 5.2 6.2 5.8 5.4 5.5
Maturity (years) 13.4 14.4 9.1 4.0 4.7 6.5 5.7 5.6
Grace period (years) 7.5 2.5 2.1 1.6 3.1 4.3 3.9 5.3
5. Major economic aggregates
Gross national income (GNI) 515,781 392,156 252,972 745,531 959,770 1,263,002 1,618,740 1,194,888
Exports of goods, services & income .. 97,265 119,350 286,244 364,409 441,054 585,034 380,879
Worker remit. & comp. of employees .. 2,502 1,275 3,012 3,344 4,713 6,033 5,359
Imports of goods, services & income .. 90,459 72,580 200,604 268,185 359,779 478,546 329,405
Profit remittances on FDI .. 197 887 19,483 34,601 43,195 62,290 38,614
Current account balance .. 6,963 46,839 84,602 94,686 77,768 103,722 48,971
International reserves .. 18,024 27,656 182,272 303,773 478,822 426,279 439,342
6. Ratios
External debt stocks to exports (%) .. 124.8 134.1 80.3 68.8 83.5 68.8 100.1
External debt stocks to GNI (%) 11.4 31.0 63.2 30.8 26.1 29.1 24.9 31.9
Debt service to exports (%) .. 6.3 9.9 14.6 13.8 9.2 11.5 17.7
Short-term to external debt stocks (%) 20.1 8.4 9.8 11.8 16.1 21.5 13.6 8.0
Multilateral to external debt stocks (%) 0.7 1.6 4.4 2.4 2.2 1.4 1.1 1.0
Reserves to external debt stocks (%) .. 14.8 17.3 79.3 121.1 130.1 105.9 115.2
Reserves to imports (months) .. 2.4 4.6 10.9 13.6 16.0 10.7 16.0
240
RUSSIAN FEDERATION
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 7,166 26,526 0 1,170 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,709 1,264 937 725 621 452 298 901
Interest 146 116 91 73 61 50 41 35
Private creditors
Principal 68,498 63,390 41,980 41,073 32,261 19,256 16,896 18,691
Interest 14,377 12,053 10,148 8,462 6,812 5,474 4,606 3,856
Notes:
Data on long-term public and publicly guaranteed, long-term private nonguaranteed, and short-term debt are World Bank staff estimates.
241
RWANDA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 708.0 1029.0 1270.3 1508.9 403.7 561.7 652.4 747.0
Long-term external debt 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5
Public and publicly guaranteed 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.1 26.3 85.8 77.0 4.3 8.1 11.4 15.2
Short-term external debt 47.1 32.0 37.9 17.4 19.3 10.8 13.6 6.3
interest arrears on long-term 1.6 17.5 16.2 13.4 12.3 10.8 8.6 6.3
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 8.3 44.2 71.9 73.3 69.3 63.6 55.5 48.2
/RQJWHUPSXEOLFVHFWRUGHEW 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 71.9 50.0 55.0 47.5 16.2 282.0 125.8 0.0
External debt flows
Disbursements 62.3 67.5 64.9 86.5 67.0 81.2 115.6 107.5
Long-term external debt 62.3 54.0 39.8 84.8 64.5 77.7 112.0 103.9
IMF purchases 0.0 13.5 25.1 1.7 2.5 3.5 3.6 3.6
Principal repayments 8.7 11.4 24.3 16.8 18.0 16.4 16.0 13.3
Long-term external debt 7.9 11.4 13.1 13.2 18.0 16.4 16.0 13.3
IMF repurchases 0.8 0.0 11.1 3.7 0.0 0.0 0.0 0.0
Net flows 55.5 52.6 24.3 66.6 52.1 57.8 104.6 89.2
Long-term external debt 54.4 42.6 26.7 71.6 46.5 61.3 96.0 90.6
Short-term external debt 1.9 -3.5 -16.4 -3.0 3.0 -7.0 5.0 -5.0
Interest payments 11.1 8.9 11.4 10.8 8.1 6.6 9.3 12.6
Long-term external debt 5.9 8.3 8.5 10.2 7.8 6.4 9.1 12.5
IMF charges 0.0 0.1 1.4 0.4 0.0 0.0 0.1 0.1
Short-term external debt 5.2 0.5 1.5 0.2 0.3 0.2 0.1 0.0
2. Other non-debt resource inflows
Foreign direct investment 7.6 2.2 8.3 8.0 11.2 67.1 103.4 118.7
Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 4.2 6.9 5.0 5.5 5.4
Japanese yen 1.5 1.3 0.4 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 38.8 45.6 58.5 63.8 53.9 44.3 42.3 39.6
4. Average terms of new commitments
Official creditors
Interest (%) 1.4 0.8 0.8 0.8 1.0 3.5 2.5 0.0
Maturity (years) 33.9 39.8 39.7 44.4 31.3 25.4 27.7 0.0
Grace period (years) 9.0 10.3 10.2 10.1 6.7 7.7 8.3 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 2572.3 1298.9 1719.6 2361.8 2805.9 3394.6 4421.8 5002.4
Exports of goods, services & income 147.3 98.8 141.5 284.6 302.5 411.3 693.0 548.6
Worker remit. & comp. of employees 2.6 21.1 6.6 20.9 21.2 51.3 67.8 92.6
Imports of goods, services & income 374.7 391.3 451.7 702.8 778.3 971.4 1463.5 1531.2
Profit remittances on FDI 6.0 1.5 3.1 4.7 3.9 9.3 15.4 4.7
Current account balance -84.6 57.5 -94.4 -52.1 -180.0 -146.6 -252.1 -378.6
International reserves 44.3 99.1 190.6 405.8 439.7 552.8 596.3 742.7
6. Ratios
External debt stocks to exports (%) 480.7 1041.4 897.7 530.1 133.4 136.6 94.1 136.2
External debt stocks to GNI (%) 27.5 79.2 73.9 63.9 14.4 16.5 14.8 14.9
Debt service to exports (%) 13.4 20.5 25.2 9.7 8.6 5.6 3.6 4.7
Short-term to external debt stocks (%) 6.7 3.1 3.0 1.2 4.8 1.9 2.1 0.8
Multilateral to external debt stocks (%) 76.6 79.1 78.5 90.0 81.3 81.2 83.4 84.5
Reserves to external debt stocks (%) 6.3 9.6 15.0 26.9 108.9 98.4 91.4 99.4
Reserves to imports (months) 1.4 3.0 5.1 6.9 6.8 6.8 4.9 5.8
242
RWANDA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 6.1 6.8 8.0 7.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.3 103.5 1215.5 0.0 7.6 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 6.8 8.3 12.4 15.6 16.2 26.8 32.3 32.3
Interest 12.7 13.6 14.1 14.2 14.3 14.1 13.5 12.7
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Rwanda was granted debt relief effective in 2006 under MDRI.
243
SAMOA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 91.8 160.0 137.7 167.5 163.7 185.9 205.6 235.5
Long-term external debt 91.0 160.0 137.7 167.5 163.7 185.9 205.6 226.4
Public and publicly guaranteed 91.0 160.0 137.7 167.5 163.7 185.9 205.6 226.4
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.8 0.0 0.0 0.0 0.0 0.0 0.0 9.1
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
interest arrears on long-term 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
/RQJWHUPSXEOLFVHFWRUGHEW 91.0 160.0 137.7 167.5 163.7 185.9 205.6 226.4
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 15.3 0.1 11.8 4.8 8.5 91.3 48.8 0.0
External debt flows
Disbursements 15.4 6.8 6.7 10.4 7.3 17.8 25.5 34.1
Long-term external debt 15.4 6.8 6.7 10.4 7.3 17.8 25.5 25.2
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.9
Principal repayments 4.1 3.0 4.2 4.3 4.9 5.3 6.0 6.0
Long-term external debt 3.3 3.0 4.2 4.3 4.9 5.3 6.0 6.0
IMF repurchases 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 11.2 3.8 2.5 6.1 2.4 12.6 19.6 28.2
Long-term external debt 12.1 3.8 2.5 6.1 2.4 12.6 19.6 19.2
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest payments 1.3 1.6 1.3 1.5 2.1 1.6 2.1 2.5
Long-term external debt 1.2 1.6 1.3 1.5 2.1 1.6 2.1 2.5
IMF charges 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 6.6 3.4 -1.5 -3.0 20.7 2.5 13.0 1.4
Portfolio equity 0.0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.8 1.7 1.4 0.9 0.8
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 38.6 36.6 41.0 43.6 48.5 45.7 41.1 36.8
4. Average terms of new commitments
Official creditors
Interest (%) 0.8 0.0 1.1 3.8 1.4 1.1 0.8 0.0
Maturity (years) 39.8 20.5 35.1 19.6 31.4 28.8 22.9 0.0
Grace period (years) 10.3 8.5 9.0 5.1 7.9 8.5 5.9 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 164.3 193.7 231.7 388.2 432.8 479.9 561.5 480.8
Exports of goods, services & income 51.2 69.1 .. 131.3 149.7 159.6 .. ..
Worker remit. & comp. of employees 43.0 41.0 45.0 109.9 108.0 119.8 135.0 131.4
Imports of goods, services & income 96.5 119.9 .. 263.3 293.2 306.3 289.8 ..
Profit remittances on FDI 0.0 0.0 .. 7.7 13.8 8.8 .. ..
Current account balance 8.6 9.3 .. -25.2 -47.8 -35.8 .. ..
International reserves 69.0 55.3 63.7 81.8 80.7 95.4 87.1 165.8
6. Ratios
External debt stocks to exports (%) 179.2 231.6 .. 127.6 109.4 116.5 .. ..
External debt stocks to GNI (%) 55.9 82.6 59.4 43.1 37.8 38.7 36.6 49.0
Debt service to exports (%) 10.6 6.6 .. 4.4 4.6 4.3 .. ..
Short-term to external debt stocks (%) .. .. .. .. .. .. .. 0.0
Multilateral to external debt stocks (%) 88.3 93.1 93.9 92.5 99.8 95.1 85.6 76.5
Reserves to external debt stocks (%) 75.2 34.6 46.2 48.8 49.3 51.3 42.4 70.4
Reserves to imports (months) 8.6 5.5 .. 3.7 3.3 3.7 3.6 ..
244
SAMOA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 12.2 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 6.7 7.4 8.5 9.4 12.9 13.3 13.9 15.1
Interest 2.9 2.8 2.9 2.9 2.8 2.8 2.8 2.6
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2007, 2008, and
2009 are $900millions, $1,116 millions, and $1,189 millions respectively.
245
SAO TOME AND PRINCIPE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 150.0 245.7 310.1 344.8 359.6 173.0 177.5 185.8
Long-term external debt 132.9 231.8 284.4 327.2 340.4 151.3 154.6 171.6
Public and publicly guaranteed 132.9 231.8 284.4 327.2 340.4 151.3 154.6 171.6
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 1.1 0.8 2.5 3.2 4.1 2.6 3.8 4.5
Short-term external debt 16.0 13.0 23.3 14.4 15.1 19.2 19.1 9.8
interest arrears on long-term 7.6 6.0 11.3 14.4 14.1 8.2 9.1 9.8
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 21.4 27.2 47.7 55.8 69.6 71.6 77.0 77.3
/RQJWHUPSXEOLFVHFWRUGHEW 132.9 231.8 284.4 327.2 340.4 151.3 154.6 166.6
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 36.3 0.0 18.2 0.0 0.0 5.0 1.4 10.0
External debt flows
Disbursements 15.6 13.0 13.9 6.1 3.9 5.5 6.6 19.4
Long-term external debt 15.6 13.0 11.4 5.4 2.7 4.2 5.2 18.8
IMF purchases 0.0 0.0 2.5 0.6 1.2 1.3 1.3 0.6
Principal repayments 1.1 1.1 2.2 5.7 6.2 6.1 3.0 3.1
Long-term external debt 1.1 0.8 2.2 5.5 5.7 5.4 3.0 3.1
IMF repurchases 0.0 0.2 0.0 0.1 0.6 0.8 0.0 0.0
Net flows 9.2 12.9 11.7 0.4 -1.3 9.4 2.6 6.3
Long-term external debt 14.4 12.2 9.2 -0.1 -3.0 -1.2 2.3 15.8
Short-term external debt -5.3 1.0 0.0 0.0 1.0 10.0 -1.0 -10.0
Interest payments 1.7 1.2 2.1 2.1 1.9 1.4 0.7 0.4
Long-term external debt 1.2 0.9 1.2 2.1 1.8 1.2 0.4 0.4
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.5 0.3 0.9 0.0 0.0 0.3 0.3 0.0
2. Other non-debt resource inflows
Foreign direct investment .. 0.0 3.8 15.7 38.0 36.0 71.7 21.1
Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 6.0 6.4 3.6 3.2 2.8
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 4.6 5.0 5.2 12.7 13.1 12.2
U.S.dollars 39.3 40.0 44.9 46.7 46.2 66.6 64.4 66.2
4. Average terms of new commitments
Official creditors
Interest (%) 0.8 0.0 0.9 0.0 0.0 4.6 0.0 0.0
Maturity (years) 35.7 0.0 38.7 0.0 0.0 20.0 30.3 29.8
Grace period (years) 10.1 0.0 9.3 0.0 0.0 8.0 10.3 5.8
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. .. .. 110.7 126.9 151.1 177.5 196.1
Exports of goods, services & income 8.1 .. 16.8 17.9 22.3 20.3 19.4 22.2
Worker remit. & comp. of employees 0.3 .. 0.5 1.5 1.6 2.0 3.0 2.0
Imports of goods, services & income 22.4 .. 41.2 57.6 80.1 85.8 115.6 106.5
Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Current account balance -12.0 .. -20.1 -36.2 -57.7 -64.3 -93.5 -77.5
International reserves .. 5.1 11.6 26.7 34.2 39.3 .. ..
6. Ratios
External debt stocks to exports (%) 1843.3 .. 1842.8 1924.6 1614.7 853.4 912.6 836.5
External debt stocks to GNI (%) .. .. .. 311.5 283.4 114.5 100.0 94.8
Debt service to exports (%) 34.8 .. 25.6 43.2 36.5 37.3 18.8 15.7
Short-term to external debt stocks (%) 10.7 5.3 7.5 4.2 4.2 11.1 10.7 5.3
Multilateral to external debt stocks (%) 48.4 61.9 54.6 57.3 56.5 21.8 22.9 23.3
Reserves to external debt stocks (%) .. 2.1 3.8 7.7 9.5 22.7 .. ..
Reserves to imports (months) .. .. 3.4 5.6 5.1 5.5 .. ..
246
SAO TOME AND PRINCIPE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 30.3 7.2 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 11.4 2.9 1.4 196.2 2.7 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 9.3 8.2 8.1 7.5 7.4 6.9 5.1 2.9
Interest 1.0 0.9 0.9 0.8 0.7 0.6 0.5 0.4
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Data for 2007, 2008, and 2009 include the effects of MDRI and HIPC debt relief, in the amount of $69,140 in thousands, $36 in thousands, and $40 in
thousands respectively.
247
SENEGAL
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 3,754 3,916 3,622 3,846 1,905 2,553 2,826 3,503
Long-term external debt 3,018 3,309 3,221 3,662 1,794 2,193 2,565 3,318
Public and publicly guaranteed 2,958 3,266 3,208 3,521 1,644 1,993 2,385 2,961
Private nonguaranteed 60 44 13 141 151 200 180 357
Use of IMF credit 314 347 255 148 26 27 64 167
Short-term external debt 421 260 146 36 84 332 197 18
interest arrears on long-term 4 9 1 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 51 17 10 18 15 5 5
/RQJWHUPSXEOLFVHFWRUGHEW 2,921 3,234 3,208 3,521 1,644 1,993 2,385 2,961
/RQJWHUPSULYDWHVHFWRUGHEW 97 76 13 141 151 200 180 357
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 375 333 241 327 534 294 567 763
External debt flows
Disbursements 261 256 156 387 280 497 560 935
Long-term external debt 232 173 137 382 259 497 522 835
IMF purchases 29 83 19 5 20 0 38 100
Principal repayments 196 196 148 145 111 126 126 148
Long-term external debt 141 156 127 112 111 126 126 148
IMF repurchases 55 41 21 34 0 0 0 0
Net flows 232 87 -153 242 217 619 299 608
Long-term external debt 91 17 10 270 149 371 396 687
Short-term external debt 167 28 -161 0 48 248 -135 -179
Interest payments 128 87 76 57 74 63 55 52
Long-term external debt 84 70 58 55 70 50 49 51
IMF charges 15 3 1 1 0 0 0 0
Short-term external debt 29 14 17 2 4 12 6 1
2. Other non-debt resource inflows
Foreign direct investment 57 32 63 45 220 297 272 208
Portfolio equity 1 4 -2 -6 0 8 .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 10.8 8.8 9.9 15.9 17.7
Japanese yen 1.5 3.6 3.5 2.7 5.2 0.0 0.2 0.2
Pound sterling 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.9 0.5 0.2 0.0 0.0 0.0 0.0 0.0
U.S.dollars 32.8 35.8 45.0 59.2 40.2 40.9 37.0 39.6
4. Average terms of new commitments
Official creditors
Interest (%) 2.0 1.2 0.8 1.2 0.9 1.9 2.7 1.2
Maturity (years) 33.4 37.6 40.1 34.0 33.9 23.5 23.4 34.8
Grace period (years) 8.8 9.1 9.9 7.6 8.5 5.8 6.7 8.4
Private creditors
Interest (%) 8.3 0.0 3.0 0.0 6.3 0.0 0.0 8.8
Maturity (years) 10.1 0.0 9.3 0.0 9.0 0.0 0.0 5.0
Grace period (years) 2.6 0.0 2.8 0.0 0.4 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 5,520 4,724 4,601 8,532 9,281 11,224 13,168 12,915
Exports of goods, services & income 1,537 1,593 1,383 2,451 2,522 3,014 .. ..
Worker remit. & comp. of employees 142 146 233 789 925 1,192 1,288 1,276
Imports of goods, services & income 2,053 2,033 1,929 3,880 4,220 5,614 6,299 ..
Profit remittances on FDI 60 62 75 62 70 78 .. ..
Current account balance -363 -244 -332 -676 -861 -1,311 .. ..
International reserves 22 272 384 1,191 1,334 1,660 1,602 2,123
6. Ratios
External debt stocks to exports (%) 244.2 245.8 261.9 157.0 75.5 84.7 .. ..
External debt stocks to GNI (%) 68.0 82.9 78.7 45.1 20.5 22.7 21.5 27.1
Debt service to exports (%) 21.1 17.8 16.2 8.3 7.3 6.2 .. ..
Short-term to external debt stocks (%) 11.2 6.6 4.0 0.9 4.4 13.0 7.0 0.5
Multilateral to external debt stocks (%) 36.6 48.2 52.8 73.6 51.7 54.1 55.2 51.7
Reserves to external debt stocks (%) 0.6 6.9 10.6 31.0 70.1 65.0 56.7 60.6
Reserves to imports (months) 0.1 1.6 2.4 3.7 3.8 3.5 3.1 ..
248
SENEGAL
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 111 258 0 31 262 4 2 0
Total amount forgiven 18 27 24 49 2,442 146 3 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 130 176 178 182 135 147 153 157
Interest 47 48 45 41 37 36 34 32
Private creditors
Principal 101 100 100 100 100 60 0 0
Interest 22 18 13 9 4 1 0 0
Notes:
Senegal was granted debt relief effective in 2006 under MDRI. Data for 2007 include the effects of MDRI, in the amount of $25 in thousands.
249
SERBIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 10,785 11,499 15,945 19,680 26,369 30,711 33,402
Long-term external debt .. 8,562 6,789 12,837 17,439 23,718 26,632 27,801
Public and publicly guaranteed .. 6,788 6,178 7,623 7,631 8,314 8,312 8,725
Private nonguaranteed .. 1,773 611 5,214 9,808 15,404 18,320 19,076
Use of IMF credit .. 84 152 866 0 0 0 1,601
Short-term external debt .. 2,139 4,558 2,242 2,241 2,651 4,079 4,000
interest arrears on long-term .. 1,396 3,668 728 584 703 704 712
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 4,182 5,275 805 732 1,250 1,625 1,832
/RQJWHUPSXEOLFVHFWRUGHEW .. 6,693 6,095 7,623 7,631 8,307 8,289 8,671
/RQJWHUPSULYDWHVHFWRUGHEW .. 1,869 694 5,214 9,808 15,410 18,343 19,130
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 0 71 223 668 511 433 2,302
External debt flows
Disbursements .. 0 376 3,088 5,277 6,637 7,070 6,080
Long-term external debt .. 0 222 2,904 5,277 6,637 7,070 4,505
IMF purchases .. 0 154 185 0 0 0 1,575
Principal repayments .. 0 73 776 1,558 2,334 3,485 3,609
Long-term external debt .. 0 0 570 1,319 2,334 3,485 3,609
IMF repurchases .. 0 73 206 239 0 0 0
Net flows .. 120 51 2,827 3,861 4,594 5,012 2,383
Long-term external debt .. 0 222 2,334 3,957 4,303 3,585 895
Short-term external debt .. 120 -252 515 143 291 1,427 -87
Interest payments .. 47 47 456 589 912 1,257 1,041
Long-term external debt .. 0 0 367 504 822 1,129 910
IMF charges .. 0 29 32 6 0 0 7
Short-term external debt .. 47 18 57 79 90 128 125
2. Other non-debt resource inflows
Foreign direct investment .. 45 52 2,051 4,968 3,448 2,993 1,921
Portfolio equity .. .. .. .. .. 764 -56 23
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 32.0 35.2 37.3 37.7 42.3
Japanese yen .. 2.2 2.0 0.9 0.9 0.8 0.9 0.8
Pound sterling .. 0.7 0.5 0.2 0.2 0.1 0.1 0.1
Swiss franc .. 3.6 2.8 1.9 3.4 3.2 3.1 2.8
U.S.dollars .. 19.8 24.6 63.1 58.3 56.0 55.3 51.0
4. Average terms of new commitments
Official creditors
Interest (%) .. 0.0 0.4 1.7 4.1 5.0 3.9 1.2
Maturity (years) .. 0.0 23.2 19.1 16.6 18.6 22.0 21.1
Grace period (years) .. 0.0 7.8 7.9 3.8 6.3 6.6 5.9
Private creditors
Interest (%) .. 0.0 7.8 0.0 4.1 0.0 5.0 0.0
Maturity (years) .. 0.0 6.4 0.0 7.1 0.0 2.0 0.0
Grace period (years) .. 0.0 1.9 0.0 7.1 0.0 2.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. .. 6,082 24,910 28,808 38,604 47,500 41,897
Exports of goods, services & income .. .. .. .. .. 12,655 15,810 12,550
Worker remit. & comp. of employees .. .. 1,132 4,650 4,703 5,377 5,538 5,406
Imports of goods, services & income .. .. .. .. .. 22,971 28,559 19,888
Profit remittances on FDI .. .. .. .. .. 604 897 452
Current account balance .. .. .. .. .. -6,346 -9,006 -2,413
International reserves .. .. 517 5,842 11,889 14,214 11,478 15,228
6. Ratios
External debt stocks to exports (%) .. .. .. .. .. 208.4 194.3 266.1
External debt stocks to GNI (%) .. .. 189.1 64.0 68.3 68.3 64.7 79.7
Debt service to exports (%) .. .. .. .. .. 25.6 30.0 37.1
Short-term to external debt stocks (%) .. 19.8 39.6 14.1 11.4 10.1 13.3 12.0
Multilateral to external debt stocks (%) .. 12.2 12.5 22.3 20.1 17.0 15.0 13.3
Reserves to external debt stocks (%) .. .. 4.5 36.6 60.4 53.9 37.4 45.6
Reserves to imports (months) .. .. .. .. .. 7.4 4.8 9.2
250
SERBIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 8 0 0 0 205
Total amount forgiven .. 0 0 54 583 14 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 345 375 429 504 558 596 624 557
Interest 170 175 175 172 166 158 149 139
Private creditors
Principal 4,186 3,337 2,613 1,874 1,724 1,265 1,186 542
Interest 959 757 584 439 339 249 250 131
Notes:
Beginning 2006, the DRS data for Serbia exclude Montenegro. Short-term debt is based on Central Bank data.
251
SEYCHELLES
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 185 198 304 668 1,094 1,407 1,498 1,624
Long-term external debt 139 185 220 395 501 623 647 643
Public and publicly guaranteed 139 185 220 395 501 623 647 643
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 0 0 0 0 0 0 9 19
Short-term external debt 46 13 84 273 593 784 842 962
interest arrears on long-term 1 2 5 57 48 60 78 104
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 9 20 21 116 101 111 112 217
/RQJWHUPSXEOLFVHFWRUGHEW 139 185 220 395 501 623 647 643
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 22 9 32 56 248 136 104 42
External debt flows
Disbursements 13 17 38 56 211 151 94 49
Long-term external debt 13 17 38 56 211 151 84 40
IMF purchases 0 0 0 0 0 0 10 9
Principal repayments 12 16 10 41 124 46 53 44
Long-term external debt 12 16 10 41 124 46 53 44
IMF repurchases 0 0 0 0 0 0 0 0
Net flows 11 -9 71 177 416 284 81 99
Long-term external debt 1 1 29 15 87 105 31 -4
Short-term external debt 10 -10 42 162 329 179 40 94
Interest payments 9 8 11 18 53 64 39 19
Long-term external debt 5 7 7 11 29 28 21 8
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 4 1 4 7 24 36 18 10
2. Other non-debt resource inflows
Foreign direct investment 20 46 24 86 146 249 241 249
Portfolio equity 0 0 .. .. .. .. 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 13.8 13.0 23.2 20.1 20.8
Japanese yen 0.0 0.0 2.1 1.8 1.2 1.0 1.2 1.2
Pound sterling 16.6 7.8 6.5 4.2 3.8 2.8 2.0 2.2
Swiss franc 7.1 6.0 4.5 2.9 2.5 2.0 2.1 2.1
U.S.dollars 8.4 14.1 35.6 55.0 67.5 61.3 65.6 63.8
4. Average terms of new commitments
Official creditors
Interest (%) 4.9 4.3 3.3 2.0 4.9 4.2 2.0 1.4
Maturity (years) 20.3 18.2 12.3 14.4 14.0 11.2 13.8 21.0
Grace period (years) 9.0 4.7 2.4 4.8 3.8 5.0 3.0 6.6
Private creditors
Interest (%) 11.5 0.0 4.4 6.1 9.1 2.9 5.1 7.1
Maturity (years) 4.8 0.0 9.2 6.0 5.1 4.0 2.8 5.1
Grace period (years) 0.9 0.0 2.5 0.9 4.6 1.9 0.4 0.2
5. Major economic aggregates
Gross national income (GNI) 355 489 583 844 924 954 823 655
Exports of goods, services & income 233 345 492 729 861 874 979 845
Worker remit. & comp. of employees 8 1 3 12 13 11 8 12
Imports of goods, services & income 265 350 545 935 1,038 1,187 1,449 1,187
Profit remittances on FDI 8 14 8 20 25 29 46 48
Current account balance -13 1 -43 -174 -134 -264 -407 -284
International reserves 17 27 44 56 113 41 64 191
6. Ratios
External debt stocks to exports (%) 79.1 57.4 61.7 91.6 127.1 161.0 153.0 192.1
External debt stocks to GNI (%) 52.0 40.5 52.1 79.2 118.4 147.4 182.1 247.8
Debt service to exports (%) 9.1 6.9 4.2 8.0 20.6 12.6 9.4 7.4
Short-term to external debt stocks (%) 24.9 6.6 27.7 40.8 54.2 55.7 56.2 59.3
Multilateral to external debt stocks (%) 23.6 31.9 19.0 10.7 3.9 3.6 3.0 3.1
Reserves to external debt stocks (%) 9.0 13.7 14.4 8.4 10.3 2.9 4.3 11.7
Reserves to imports (months) 0.8 0.9 1.0 0.7 1.3 0.4 0.5 1.9
252
SEYCHELLES
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 26 7 0 4 10
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 30 15 15 15 14 11 11 10
Interest 3 3 3 3 2 2 2 2
Private creditors
Principal 48 243 3 0 0 0 0 0
Interest 22 21 0 0 0 0 0 0
Notes:
Data include the effects of Paris Club debt restructuring agreement signed in 2009.
253
SIERRA LEONE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1176.4 1219.6 1189.8 1539.7 1265.5 312.0 398.6 444.1
Long-term external debt 919.9 1027.7 972.8 1327.1 1219.9 270.4 336.4 370.9
Public and publicly guaranteed 919.9 1027.7 972.8 1327.1 1219.9 270.4 336.4 370.9
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 108.4 164.9 173.6 192.1 34.8 36.5 53.2 73.2
Short-term external debt 148.1 26.9 43.5 20.6 10.8 5.1 9.0 0.0
interest arrears on long-term 148.1 6.9 36.3 10.6 10.8 0.1 0.0 0.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 546.9 107.6 66.0 35.3 38.5 9.0 8.6 8.4
/RQJWHUPSXEOLFVHFWRUGHEW 587.9 943.6 972.8 1327.1 1219.9 270.4 336.4 370.9
/RQJWHUPSULYDWHVHFWRUGHEW 332.0 84.1 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 18.2 47.7 65.0 19.0 10.3 59.5 32.2 82.1
External debt flows
Disbursements 15.0 114.8 90.3 71.4 40.2 28.2 80.4 55.6
Long-term external debt 15.0 95.0 76.6 50.7 26.8 28.2 62.4 36.8
IMF purchases 0.0 19.8 13.7 20.7 13.4 0.0 18.0 18.8
Principal repayments 12.0 60.1 34.9 7.3 12.3 5.2 2.6 3.5
Long-term external debt 7.4 56.6 9.6 4.8 7.8 5.2 2.6 3.5
IMF repurchases 4.6 3.5 25.2 2.4 4.5 0.0 0.0 0.0
Net flows 3.0 54.7 56.8 54.2 18.0 28.0 81.8 43.1
Long-term external debt 7.6 38.4 66.9 45.9 19.1 23.0 59.8 33.3
Short-term external debt 0.0 0.0 1.4 -10.0 -10.0 5.0 4.0 -9.0
Interest payments 9.2 22.0 11.8 10.3 11.3 4.7 3.2 3.8
Long-term external debt 8.9 19.8 8.9 9.1 10.4 4.5 2.9 3.5
IMF charges 0.3 0.8 2.5 0.9 1.0 0.2 0.2 0.3
Short-term external debt 0.0 1.4 0.4 0.4 0.0 0.1 0.2 0.0
2. Other non-debt resource inflows
Foreign direct investment 32.4 7.3 39.0 83.2 58.8 96.6 57.6 74.3
Portfolio equity 0.0 0.0 .. 0.0 0.0 0.0 0.0 5.6
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 12.1 10.5 9.8 6.8 5.7
Japanese yen 4.9 7.6 7.1 8.6 9.3 0.0 0.0 0.0
Pound sterling 1.4 0.5 0.6 0.3 0.4 0.0 0.0 0.0
Swiss franc 5.4 2.9 2.2 1.8 2.1 0.1 0.1 0.0
U.S.dollars 54.0 41.0 44.9 47.8 44.8 42.9 42.0 40.8
4. Average terms of new commitments
Official creditors
Interest (%) 0.1 0.6 0.8 0.1 0.0 1.2 0.8 1.5
Maturity (years) 24.4 32.6 39.8 47.2 25.3 22.0 44.9 32.0
Grace period (years) 10.0 7.8 10.3 9.9 7.8 5.5 10.3 8.7
Private creditors
Interest (%) 9.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 579.8 818.5 616.1 1176.0 1364.2 1629.1 1915.7 1901.1
Exports of goods, services & income 210.3 129.0 62.5 267.2 316.7 377.5 352.6 334.2
Worker remit. & comp. of employees 0.0 23.7 7.1 2.4 15.6 42.0 27.5 46.7
Imports of goods, services & income 286.6 290.3 262.4 509.3 489.0 641.0 689.1 674.8
Profit remittances on FDI 50.7 11.3 1.8 41.2 27.3 121.8 76.0 39.0
Current account balance -69.4 -118.1 -112.3 -104.9 -95.0 -160.1 -225.4 -192.8
International reserves 5.4 34.6 49.2 170.5 183.9 216.6 220.2 405.0
6. Ratios
External debt stocks to exports (%) 559.3 945.2 1904.6 576.3 399.6 82.7 113.1 132.9
External debt stocks to GNI (%) 202.9 149.0 193.1 130.9 92.8 19.2 20.8 23.4
Debt service to exports (%) 10.0 63.6 74.8 6.6 7.5 2.6 1.6 2.2
Short-term to external debt stocks (%) 12.6 2.2 3.7 1.3 0.9 1.6 2.3 0.0
Multilateral to external debt stocks (%) 15.4 35.6 48.4 56.1 67.3 70.3 68.5 69.4
Reserves to external debt stocks (%) 0.5 2.8 4.1 11.1 14.5 69.4 55.2 91.2
Reserves to imports (months) 0.2 1.4 2.3 4.0 4.5 4.1 3.8 7.2
254
SIERRA LEONE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 29.3 0.4 4.7 4.6 8.8 18.1 11.6
Total amount forgiven 0.0 329.4 0.0 34.2 253.5 958.7 7.0 3.6
Debt buyback 0.0 29.4 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 11.2 12.2 13.2 12.9 15.0 17.5 17.8 31.0
Interest 3.6 4.3 4.7 4.7 4.7 4.6 4.4 4.0
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Notes:
Data on long-term public and publicly guaranteed debt in 2009 are World Bank staff estimates based on reports provided by the country. Data include the effects
of Paris Club debt restructuring agreement signed in 2007. Data for 2007 include the effects of MDRI and HIPC debt relief, in the amount of $525,649 in
thousands.
255
SOLOMON ISLANDS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 120.5 158.7 155.4 166.5 173.5 177.3 165.9 155.9
Long-term external debt 103.2 149.1 152.1 151.2 157.9 173.9 162.8 154.4
Public and publicly guaranteed 103.2 100.3 120.7 144.2 150.9 148.1 137.1 132.9
Private nonguaranteed 0.0 48.8 31.5 7.0 7.0 25.9 25.8 21.5
Use of IMF credit 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 16.6 9.7 3.2 15.3 15.6 3.4 3.1 1.5
interest arrears on long-term 0.1 8.4 1.8 12.3 13.6 3.4 3.1 1.5
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.2 11.4 3.3 11.4 13.7 13.0 9.4 8.9
/RQJWHUPSXEOLFVHFWRUGHEW 103.2 100.3 120.7 144.2 150.9 148.1 137.1 132.9
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 48.8 31.5 7.0 7.0 25.9 25.8 21.5
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 2.5 12.3 4.0 0.4 0.6 0.0 0.0 0.0
External debt flows
Disbursements 5.2 11.8 3.4 5.7 5.1 24.5 1.1 13.7
Long-term external debt 5.2 11.8 3.4 5.7 5.1 24.5 1.1 13.7
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments 7.9 6.5 6.2 10.0 2.8 10.7 10.8 7.6
Long-term external debt 7.0 6.5 6.2 10.0 2.8 10.7 10.8 7.6
IMF repurchases 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 13.8 4.5 -4.4 -2.3 1.2 11.8 -9.7 6.1
Long-term external debt -1.8 5.3 -2.9 -4.3 2.2 13.8 -9.7 6.1
Short-term external debt 16.5 -0.8 -1.5 2.0 -1.0 -2.0 0.0 0.0
Interest payments 3.7 1.6 2.9 4.0 1.5 3.3 4.3 2.4
Long-term external debt 3.1 1.5 2.7 3.9 1.3 3.2 4.3 2.4
IMF charges 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.5 0.1 0.1 0.1 0.2 0.1 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 10.4 2.0 13.0 18.6 34.1 64.4 94.9 117.6
Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 7.1 7.6 9.2 7.2 7.3
Japanese yen 4.8 3.8 3.4 2.8 2.6 0.0 0.0 0.0
Pound sterling 13.1 6.4 2.9 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 52.0 53.9 67.1 73.7 73.9 75.4 78.0 77.7
4. Average terms of new commitments
Official creditors
Interest (%) 2.2 3.4 0.8 0.0 0.0 0.0 0.0 3.5
Maturity (years) 17.7 18.9 40.0 0.0 0.0 0.0 0.0 24.5
Grace period (years) 11.5 3.6 10.5 0.0 0.0 0.0 0.0 3.5
Private creditors
Interest (%) 0.0 7.8 0.0 5.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 10.2 0.0 5.1 4.0 0.0 0.0 0.0
Grace period (years) 0.0 0.7 0.0 0.0 0.6 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 207.3 320.7 435.5 415.5 441.8 549.7 551.5 480.8
Exports of goods, services & income 97.8 211.3 128.8 154.9 179.6 237.7 289.7 248.8
Worker remit. & comp. of employees .. .. 4.3 7.2 20.4 20.4 20.4 2.4
Imports of goods, services & income 163.6 239.4 176.4 250.1 294.9 411.4 524.0 476.2
Profit remittances on FDI 2.0 6.8 8.3 5.3 23.6 41.0 103.5 125.4
Current account balance -27.8 8.3 -41.0 -90.2 -42.7 -80.9 -124.4 -120.8
International reserves 17.6 15.9 32.0 95.4 104.4 119.1 89.5 146.0
6. Ratios
External debt stocks to exports (%) 123.2 75.1 120.6 107.5 96.6 74.6 57.3 62.7
External debt stocks to GNI (%) 58.1 49.5 35.7 40.1 39.3 32.3 30.1 32.4
Debt service to exports (%) 11.8 3.8 7.1 9.1 2.4 5.9 5.2 4.0
Short-term to external debt stocks (%) 13.8 6.1 2.1 9.2 9.0 1.9 1.8 1.0
Multilateral to external debt stocks (%) 51.0 50.1 64.6 64.3 65.6 68.6 68.5 71.5
Reserves to external debt stocks (%) 14.6 10.0 20.6 57.3 60.2 67.1 54.0 93.6
Reserves to imports (months) 1.3 0.8 2.2 4.6 4.2 3.5 2.1 3.7
256
SOLOMON ISLANDS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 7.8 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 7.2 7.3 7.1 6.8 6.8 6.4 6.4 6.2
Interest 1.9 1.8 1.7 1.6 1.5 1.4 1.3 1.2
Private creditors
Principal 4.1 2.3 2.1 1.7 2.1 1.1 0.9 1.3
Interest 1.1 1.0 1.5 0.9 0.7 0.6 0.5 0.4
257
SOMALIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,370 2,678 2,562 2,750 2,838 2,944 2,949 2,973
Long-term external debt 1,926 1,961 1,825 1,882 1,923 1,979 1,983 1,987
Public and publicly guaranteed 1,926 1,961 1,825 1,882 1,923 1,979 1,983 1,987
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 159 166 146 160 168 177 173 176
Short-term external debt 285 551 591 709 747 788 793 810
interest arrears on long-term 255 521 569 709 747 788 793 810
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 674 1,135 1,241 1,460 1,523 1,597 1,628 1,665
/RQJWHUPSXEOLFVHFWRUGHEW 1,926 1,961 1,825 1,882 1,923 1,979 1,983 1,987
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 72 0 0 0 0 0 0 0
External debt flows
Disbursements 46 0 0 0 0 0 0 0
Long-term external debt 46 0 0 0 0 0 0 0
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 5 0 0 0 0 0 0 0
Long-term external debt 3 0 0 0 0 0 0 0
IMF repurchases 3 0 0 0 0 0 0 0
Net flows 58 0 -7 0 0 0 0 0
Long-term external debt 43 0 0 0 0 0 0 0
Short-term external debt 18 0 -7 0 0 0 0 0
Interest payments 5 1 0 0 0 0 2 0
Long-term external debt 4 0 0 0 0 0 0 0
IMF charges 1 1 0 0 0 0 2 0
Short-term external debt 0 0 0 0 0 0 0 0
2. Other non-debt resource inflows
Foreign direct investment 6 1 0 24 96 141 87 108
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.6 6.1 6.6 6.3 6.5
Japanese yen 2.4 3.1 3.0 2.8 2.7 2.8 3.5 3.4
Pound sterling 0.2 0.1 0.1 0.1 0.2 0.2 0.1 0.1
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 50.5 50.2 52.0 51.8 51.4 50.6 50.4 50.4
4. Average terms of new commitments
Official creditors
Interest (%) 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 46.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 10.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 835 .. .. .. .. .. .. ..
Exports of goods, services & income .. .. .. .. .. .. .. ..
Worker remit. & comp. of employees .. .. .. .. .. .. .. ..
Imports of goods, services & income .. .. .. .. .. .. .. ..
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. .. .. .. .. .. ..
International reserves .. .. .. .. .. .. .. ..
6. Ratios
External debt stocks to exports (%) .. .. .. .. .. .. .. ..
External debt stocks to GNI (%) 283.9 .. .. .. .. .. .. ..
Debt service to exports (%) .. .. .. .. .. .. .. ..
Short-term to external debt stocks (%) 12.0 20.6 23.1 25.8 26.3 26.8 26.9 27.2
Multilateral to external debt stocks (%) 31.8 29.4 27.7 27.5 27.4 27.5 27.2 27.1
Reserves to external debt stocks (%) .. .. .. .. .. .. .. ..
Reserves to imports (months) .. .. .. .. .. .. .. ..
258
SOMALIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 35 35 32 32 33 28 28 28
Interest 7 6 6 5 5 4 4 4
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates based on the original terms of the loans.
259
SOUTH AFRICA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 25,358 24,861 31,070 35,523 43,610 41,943 42,101
Long-term external debt .. 14,772 15,308 21,360 20,263 27,052 24,006 28,827
Public and publicly guaranteed .. 9,837 9,088 15,633 13,914 14,101 13,173 15,063
Private nonguaranteed .. 4,935 6,220 5,727 6,349 12,951 10,833 13,764
Use of IMF credit 0 913 0 0 0 0 0 0
Short-term external debt .. 9,673 9,553 9,710 15,260 16,558 17,937 13,274
interest arrears on long-term .. 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. 9,837 8,054 15,633 13,914 14,101 13,173 15,063
/RQJWHUPSULYDWHVHFWRUGHEW .. 4,935 7,254 5,727 6,349 12,951 10,833 13,764
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 3,225 2,223 2,270 1,876 1,870 608 5,715
External debt flows
Disbursements .. 3,549 3,611 5,641 4,877 8,727 1,263 5,987
Long-term external debt .. 3,549 3,611 5,641 4,877 8,727 1,263 5,987
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments .. 2,070 2,609 2,034 3,831 3,353 2,789 1,984
Long-term external debt .. 2,070 2,609 2,034 3,831 3,353 2,789 1,984
IMF repurchases 0 0 0 0 0 0 0 0
Net flows .. 3,412 -260 5,408 6,597 6,672 -147 -660
Long-term external debt .. 1,478 1,002 3,607 1,047 5,374 -1,526 4,003
Short-term external debt .. 1,934 -1,262 1,801 5,550 1,298 1,379 -4,663
Interest payments .. 1,320 1,252 1,198 1,639 1,911 1,765 1,605
Long-term external debt .. 855 743 846 1,183 1,330 1,248 1,136
IMF charges 0 50 0 0 0 0 0 0
Short-term external debt .. 415 509 352 456 581 517 468
2. Other non-debt resource inflows
Foreign direct investment .. 1,248 969 6,522 -184 5,737 9,645 5,628
Portfolio equity .. 2,914 4,169 7,230 14,959 8,670 -4,707 9,357
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 13.3 30.9 26.7 21.6 19.6
Japanese yen .. 3.0 3.8 0.0 0.0 0.0 0.0 0.0
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 90.6 92.0 85.0 67.1 71.4 76.6 79.1
4. Average terms of new commitments
Official creditors
Interest (%) .. 0.0 5.9 0.0 0.0 0.0 0.0 1.9
Maturity (years) .. 0.0 12.3 0.0 0.0 0.0 0.0 19.8
Grace period (years) .. 0.0 4.0 0.0 0.0 0.0 0.0 5.2
Private creditors
Interest (%) .. 5.4 6.1 3.9 6.5 6.8 3.4 6.1
Maturity (years) .. 14.3 9.8 6.4 8.9 10.1 2.8 9.9
Grace period (years) .. 1.8 2.3 2.9 8.9 9.9 0.8 7.6
5. Major economic aggregates
Gross national income (GNI) .. 148,238 129,704 242,122 255,872 276,534 267,509 279,667
Exports of goods, services & income .. 35,538 39,507 72,202 84,117 96,620 104,867 82,541
Worker remit. & comp. of employees .. 105 344 658 734 834 823 902
Imports of goods, services & income .. 37,386 38,771 78,267 95,499 114,841 122,618 91,151
Profit remittances on FDI .. 535 2,329 4,320 4,843 8,666 8,031 5,279
Current account balance .. -2,493 -191 -8,518 -13,745 -20,572 -20,084 -11,295
International reserves .. 4,464 7,702 20,624 25,593 32,919 34,070 39,603
6. Ratios
External debt stocks to exports (%) .. 71.4 62.9 43.0 42.2 45.1 40.0 51.0
External debt stocks to GNI (%) .. 17.1 19.2 12.8 13.9 15.8 15.7 15.1
Debt service to exports (%) .. 9.5 9.8 4.5 6.5 5.4 4.3 9.3
Short-term to external debt stocks (%) .. 38.1 38.4 31.3 43.0 38.0 42.8 31.5
Multilateral to external debt stocks (%) .. .. 0.6 0.9 0.9 0.7 0.6 0.5
Reserves to external debt stocks (%) .. 17.6 31.0 66.4 72.0 75.5 81.2 94.1
Reserves to imports (months) .. 1.4 2.4 3.2 3.2 3.4 3.3 5.2
260
SOUTH AFRICA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 1,222 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 43 40 36 26 23 205 205 195
Interest 2 9 19 29 38 45 47 44
Private creditors
Principal 4,215 2,788 5,116 4,824 3,698 1,581 1,918 972
Interest 2,025 1,861 1,682 1,276 859 605 426 281
Notes:
Data on long-term public and publicly guaranteed, long-term private nonguaranteed, and short-term debt for 2009 are World Bank staff estimates based on
aggregate information provided by the authority.
261
SRI LANKA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 5,863 8,395 9,089 11,373 11,888 14,369 15,611 17,208
Long-term external debt 5,049 7,264 8,244 10,000 10,788 12,474 13,343 14,614
Public and publicly guaranteed 4,947 7,175 7,876 9,612 10,295 11,836 12,609 13,647
Private nonguaranteed 102 90 368 388 493 639 734 967
Use of IMF credit 410 595 161 381 244 251 169 721
Short-term external debt 405 535 685 992 855 1,643 2,100 1,873
interest arrears on long-term 11 35 112 0 0 11 13 24
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 42 216 0 0 9 12 72
/RQJWHUPSXEOLFVHFWRUGHEW 4,854 7,055 7,769 9,612 10,295 11,836 12,609 13,647
/RQJWHUPSULYDWHVHFWRUGHEW 194 210 476 388 493 639 734 967
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 837 406 448 938 1,208 2,190 1,975 2,348
External debt flows
Disbursements 545 671 735 1,082 1,049 1,698 1,235 2,846
Long-term external debt 485 671 735 929 1,049 1,698 1,235 2,209
IMF purchases 61 0 0 153 0 0 0 638
Principal repayments 214 280 539 267 661 540 882 1,065
Long-term external debt 167 246 453 228 508 535 804 968
IMF repurchases 47 34 86 38 154 5 78 97
Net flows 331 385 -22 1,160 251 1,934 808 1,544
Long-term external debt 318 425 281 701 542 1,163 432 1,241
Short-term external debt 0 -6 -218 344 -137 777 455 -238
Interest payments 170 172 248 154 267 297 349 353
Long-term external debt 122 145 213 106 208 218 286 325
IMF charges 21 3 1 11 13 11 8 3
Short-term external debt 27 24 34 37 46 69 56 25
2. Other non-debt resource inflows
Foreign direct investment 43 56 173 272 480 603 752 404
Portfolio equity 0 .. .. -216 -304 -322 -488 -382
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 7.8 9.1 9.5 9.2 9.3
Japanese yen 22.7 28.6 30.0 30.4 29.0 26.2 31.5 29.4
Pound sterling 3.2 1.8 0.5 0.1 0.1 0.1 0.1 0.0
Swiss franc 0.9 0.4 0.2 0.0 0.0 0.0 0.0 0.0
U.S.dollars 36.2 35.9 38.4 40.8 41.1 44.3 40.3 42.7
4. Average terms of new commitments
Official creditors
Interest (%) 1.4 3.3 2.4 1.6 3.0 3.3 2.1 2.6
Maturity (years) 36.4 29.7 32.0 28.1 24.3 23.5 21.0 20.4
Grace period (years) 10.1 8.3 8.5 7.4 7.0 7.0 7.6 5.5
Private creditors
Interest (%) 8.0 4.8 6.6 5.4 4.8 7.4 3.1 7.2
Maturity (years) 9.9 11.3 10.4 8.4 7.5 5.9 9.9 5.6
Grace period (years) 1.6 1.9 1.3 3.0 3.3 4.0 3.4 5.1
5. Major economic aggregates
Gross national income (GNI) 7,974 12,860 16,016 24,107 27,892 32,010 39,746 41,494
Exports of goods, services & income 2,386 4,840 6,527 7,963 8,819 9,864 10,338 9,099
Worker remit. & comp. of employees 401 809 1,166 1,991 2,185 2,527 2,947 3,363
Imports of goods, services & income 3,224 6,342 8,554 10,441 12,321 13,575 16,889 12,318
Profit remittances on FDI 25 72 109 115 362 349 470 230
Current account balance -298 -770 -1,044 -650 -1,498 -1,401 -3,885 -215
International reserves 447 2,112 1,131 2,735 2,832 3,518 2,617 4,801
6. Ratios
External debt stocks to exports (%) 245.8 173.4 139.3 142.8 134.8 145.7 151.0 189.1
External debt stocks to GNI (%) 73.5 65.3 56.8 47.2 42.6 44.9 39.3 41.5
Debt service to exports (%) 16.1 9.3 12.1 5.3 10.5 8.5 11.9 15.6
Short-term to external debt stocks (%) 6.9 6.4 7.5 8.7 7.2 11.4 13.5 10.9
Multilateral to external debt stocks (%) 27.7 34.0 37.5 40.0 41.6 37.3 35.6 34.1
Reserves to external debt stocks (%) 7.6 25.2 12.4 24.0 23.8 24.5 16.8 27.9
Reserves to imports (months) 1.7 4.0 1.6 3.1 2.8 3.1 1.9 4.7
262
SRI LANKA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 265 0 0 0 0
Total amount forgiven 0 7 9 2 0 1 8 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 585 620 685 744 786 868 894 894
Interest 206 218 223 222 213 202 190 178
Private creditors
Principal 303 273 756 198 157 641 125 109
Interest 116 134 122 70 63 38 15 10
263
ST. KITTS AND NEVIS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 44.2 55.4 156.1 292.2 290.1 271.1 247.0 226.6
Long-term external debt 44.2 54.2 153.1 291.9 289.2 270.9 246.6 222.3
Public and publicly guaranteed 44.2 54.2 153.1 291.9 289.2 270.9 246.6 222.3
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 2.1 0.0 0.0 0.0 0.0 3.5
Short-term external debt 0.0 1.2 0.8 0.2 0.9 0.2 0.5 0.8
interest arrears on long-term 0.0 1.2 0.8 0.2 0.9 0.2 0.5 0.8
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.0 0.7 0.4 0.6 0.6 0.1 10.0 11.6
/RQJWHUPSXEOLFVHFWRUGHEW 40.7 52.9 153.1 291.9 289.2 270.9 246.6 222.3
/RQJWHUPSULYDWHVHFWRUGHEW 3.4 1.3 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 5.5 11.4 32.4 15.3 16.6 8.4 0.0 0.0
External debt flows
Disbursements 7.3 5.6 32.1 7.0 23.2 8.9 4.4 6.5
Long-term external debt 7.3 5.6 32.1 7.0 23.2 8.9 4.4 3.1
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.4
Principal repayments 1.5 4.8 12.4 26.5 27.0 28.6 28.2 27.4
Long-term external debt 1.5 4.8 12.4 26.5 27.0 28.6 28.2 27.4
IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 5.8 0.9 19.7 -19.5 -3.7 -19.8 -23.8 -20.8
Long-term external debt 5.8 0.9 19.7 -19.5 -3.7 -19.8 -23.8 -24.3
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest payments 1.4 1.9 7.2 20.5 19.3 19.3 16.6 13.9
Long-term external debt 1.4 1.9 7.1 20.5 19.3 19.3 16.6 13.8
IMF charges 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 48.8 20.5 96.2 93.0 110.4 134.5 177.9 133.6
Portfolio equity 0.0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.5 2.3 2.5 2.2 2.4
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 16.3 7.4 1.5 0.1 0.1 0.1 0.1 0.1
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 37.8 51.4 79.6 84.7 84.7 84.5 85.0 84.7
4. Average terms of new commitments
Official creditors
Interest (%) 4.5 3.7 4.8 2.0 5.1 6.4 0.0 0.0
Maturity (years) 38.0 19.1 16.5 20.4 20.2 19.5 0.0 0.0
Grace period (years) 9.0 5.2 4.5 3.7 3.6 4.8 0.0 0.0
Private creditors
Interest (%) 2.0 0.0 7.0 0.0 2.5 0.0 0.0 0.0
Maturity (years) 5.8 0.0 9.7 0.0 8.0 0.0 0.0 0.0
Grace period (years) 1.3 0.0 1.1 0.0 2.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 154.5 219.8 296.1 403.6 454.8 481.4 559.6 511.7
Exports of goods, services & income 85.7 125.3 155.5 237.3 249.0 245.4 239.3 198.1
Worker remit. & comp. of employees 19.3 20.2 27.1 33.5 36.4 40.3 44.1 40.5
Imports of goods, services & income 140.1 189.9 284.4 325.9 366.3 385.9 453.2 423.0
Profit remittances on FDI 5.0 14.4 21.2 20.3 20.2 24.0 23.4 21.9
Current account balance -47.0 -45.5 -66.2 -64.7 -85.1 -111.3 -180.8 -184.8
International reserves 16.3 33.5 45.2 71.6 88.7 95.8 110.4 136.4
6. Ratios
External debt stocks to exports (%) 51.6 44.2 100.4 123.1 116.5 110.5 103.2 114.4
External debt stocks to GNI (%) 28.6 25.2 52.7 72.4 63.8 56.3 44.1 44.3
Debt service to exports (%) 3.4 5.3 12.6 19.8 18.6 19.5 18.7 20.8
Short-term to external debt stocks (%) 0.1 2.2 0.5 0.1 0.3 0.1 0.2 0.4
Multilateral to external debt stocks (%) 45.2 53.4 34.5 34.0 36.7 39.2 41.5 43.2
Reserves to external debt stocks (%) 36.8 60.4 29.0 24.5 30.6 35.3 44.7 60.2
Reserves to imports (months) 1.4 2.1 1.9 2.6 2.9 3.0 2.9 3.9
264
ST. KITTS AND NEVIS
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 19.3 19.0 18.5 14.0 11.1 10.7 10.0 9.1
Interest 4.1 3.4 2.8 2.2 1.9 1.7 1.5 1.3
Private creditors
Principal 11.8 14.1 18.1 22.2 2.8 2.5 1.4 0.8
Interest 5.7 5.0 3.1 2.0 1.0 0.7 0.6 0.5
Notes:
Data on long-term public and publicly-guaranteed debt for 2009 are World Bank staff estimates based on reports provided by the country.
265
ST. LUCIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 79.2 128.3 221.3 411.0 403.7 509.2 867.1 416.1
Long-term external debt 72.1 111.3 153.5 235.0 286.7 335.8 352.2 343.7
Public and publicly guaranteed 72.1 111.3 153.5 235.0 286.7 335.8 352.2 343.7
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.8
Short-term external debt 7.0 16.9 67.8 176.0 117.0 173.3 514.9 61.7
interest arrears on long-term 0.8 0.0 0.0 0.0 0.0 0.3 0.9 2.7
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.1 0.0 0.0 0.0 0.0 0.4 0.0 2.7
/RQJWHUPSXEOLFVHFWRUGHEW 72.1 111.3 153.5 235.0 286.7 335.8 352.2 343.7
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 34.9 50.4 65.3 8.2 44.4 9.8 5.4 19.8
External debt flows
Disbursements 8.0 11.5 48.7 11.7 65.8 24.1 11.5 28.2
Long-term external debt 8.0 11.5 48.7 11.7 65.8 24.1 11.5 17.5
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.6
Principal repayments 3.2 6.2 20.9 14.2 17.8 26.4 32.4 26.7
Long-term external debt 3.2 6.2 20.9 14.2 17.8 26.4 32.4 26.7
IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 7.0 12.3 40.3 64.5 -11.1 53.8 320.1 -453.5
Long-term external debt 4.8 5.4 27.8 -2.5 47.9 -2.2 -20.9 -9.1
Short-term external debt 2.2 6.9 12.5 67.0 -59.0 56.0 341.0 -455.0
Interest payments 3.1 5.7 9.2 17.5 16.3 21.9 27.4 17.6
Long-term external debt 2.8 4.8 6.4 12.8 12.6 16.4 17.1 16.1
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.3 0.9 2.8 4.8 3.7 5.5 10.3 1.5
2. Other non-debt resource inflows
Foreign direct investment 44.8 32.8 53.7 78.2 233.9 271.9 161.2 156.5
Portfolio equity 0.2 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 3.8 2.7 3.1 1.5 1.2
Japanese yen 4.0 2.4 0.3 0.0 0.0 0.0 0.0 0.0
Pound sterling 40.3 13.7 2.1 0.2 0.0 0.0 0.0 0.0
Swiss franc 1.1 0.5 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 32.8 53.4 55.0 71.4 59.3 63.1 66.6 64.0
4. Average terms of new commitments
Official creditors
Interest (%) 4.3 4.7 6.0 2.5 0.0 0.8 0.8 3.4
Maturity (years) 24.1 24.8 22.7 24.9 0.0 34.6 34.3 14.0
Grace period (years) 8.2 7.1 5.5 7.8 0.0 10.1 9.8 0.8
Private creditors
Interest (%) 0.0 0.0 8.7 0.0 7.2 0.0 0.0 7.2
Maturity (years) 0.0 0.0 13.2 0.0 10.3 0.0 0.0 6.0
Grace period (years) 0.0 0.0 13.2 0.0 10.3 0.0 0.0 6.0
5. Major economic aggregates
Gross national income (GNI) 369.2 521.2 662.9 785.5 876.4 889.9 907.0 872.8
Exports of goods, services & income 287.5 385.4 380.6 533.0 451.8 469.5 537.5 537.8
Worker remit. & comp. of employees 16.1 23.1 26.4 29.5 30.3 31.1 31.5 27.6
Imports of goods, services & income 352.1 440.6 494.2 675.5 772.8 827.8 900.4 738.0
Profit remittances on FDI 26.5 35.3 33.4 51.1 34.0 45.1 52.5 50.7
Current account balance -57.0 -36.2 -94.8 -129.5 -309.0 -344.7 -346.6 -187.1
International reserves 44.6 63.1 78.8 116.4 134.5 153.7 142.8 174.8
6. Ratios
External debt stocks to exports (%) 27.5 33.3 58.1 77.1 89.4 108.4 161.3 77.4
External debt stocks to GNI (%) 21.4 24.6 33.4 52.3 46.1 57.2 95.6 47.7
Debt service to exports (%) 2.2 3.1 7.9 6.0 7.5 10.3 11.1 8.2
Short-term to external debt stocks (%) 8.9 13.2 30.6 42.8 29.0 34.0 59.4 14.8
Multilateral to external debt stocks (%) 53.3 61.6 45.0 34.2 37.5 32.5 23.2 47.3
Reserves to external debt stocks (%) 56.3 49.2 35.6 28.3 33.3 30.2 16.5 42.0
Reserves to imports (months) 1.5 1.7 1.9 2.1 2.1 2.2 1.9 2.8
266
ST. LUCIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 67.5 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 21.9 20.4 17.7 15.7 15.0 14.1 14.1 13.8
Interest 3.7 3.4 3.1 2.8 2.5 2.2 2.0 1.7
Private creditors
Principal 11.0 11.0 11.0 7.8 1.1 35.1 45.2 0.2
Interest 9.1 8.3 7.5 6.7 6.3 5.1 1.5 0.0
267
ST. VINCENT AND THE GRENADINES
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 62.4 118.3 194.6 250.6 241.5 199.9 203.2 208.8
Long-term external debt 60.3 91.3 163.3 246.3 241.0 198.3 202.4 201.7
Public and publicly guaranteed 60.3 91.3 163.3 246.3 241.0 198.3 202.4 201.7
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.9
Short-term external debt 2.1 27.0 31.4 4.3 0.5 1.6 0.9 1.2
interest arrears on long-term 0.1 0.1 0.4 4.3 0.5 1.6 0.9 1.2
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.1 0.6 0.9 3.0 0.3 0.3 0.3 0.8
/RQJWHUPSXEOLFVHFWRUGHEW 60.3 91.3 163.3 246.3 241.0 198.3 202.4 201.7
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 8.0 12.6 1.0 66.4 0.0 0.7 16.0 35.4
External debt flows
Disbursements 7.2 3.3 8.5 42.4 14.1 15.4 23.4 26.1
Long-term external debt 7.2 3.3 8.5 42.4 14.1 15.4 23.4 20.4
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.8
Principal repayments 2.4 4.5 6.1 15.5 22.1 18.3 18.7 21.5
Long-term external debt 2.4 4.5 6.1 15.5 22.1 18.3 18.7 21.5
IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 5.2 3.0 1.6 26.9 -8.0 -2.9 4.7 4.6
Long-term external debt 4.8 -1.2 2.4 26.9 -8.0 -2.9 4.7 -1.1
Short-term external debt 0.4 4.2 -0.8 0.0 0.0 0.0 0.0 0.0
Interest payments 1.9 4.1 7.0 8.2 11.2 9.5 10.0 9.8
Long-term external debt 1.7 2.6 5.1 8.2 11.2 9.5 10.0 9.7
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.2 1.5 1.9 0.0 0.0 0.0 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 7.7 30.6 37.7 40.1 109.1 130.5 159.2 110.3
Portfolio equity 0.0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.4 5.9 7.6 6.3 5.6
Japanese yen 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 4.5 5.4 2.9 0.1 0.1 0.1 0.1 0.1
Swiss franc 0.2 1.4 0.3 0.0 0.0 0.0 0.0 0.0
U.S.dollars 65.9 68.2 82.2 74.3 75.5 71.7 75.5 78.3
4. Average terms of new commitments
Official creditors
Interest (%) 4.0 3.5 2.5 4.7 0.0 0.8 0.0 2.8
Maturity (years) 20.4 19.9 30.1 18.4 0.0 34.8 0.0 21.5
Grace period (years) 4.9 4.2 10.3 4.6 0.0 10.3 0.0 5.6
Private creditors
Interest (%) 0.0 0.0 0.0 7.0 0.0 0.0 8.5 0.0
Maturity (years) 0.0 0.0 0.0 10.0 0.0 0.0 10.0 0.0
Grace period (years) 0.0 0.0 0.0 0.5 0.0 0.0 0.5 0.0
5. Major economic aggregates
Gross national income (GNI) 187.3 254.8 316.9 418.8 473.7 533.3 559.2 561.8
Exports of goods, services & income 134.8 140.3 182.6 208.9 225.6 225.3 219.8 211.8
Worker remit. & comp. of employees 15.6 17.2 22.5 26.5 29.7 33.1 31.1 29.9
Imports of goods, services & income 167.9 190.0 222.8 326.4 363.6 436.4 472.0 433.3
Profit remittances on FDI 13.3 11.1 12.7 22.1 23.0 19.6 18.1 17.8
Current account balance -23.6 -40.2 -23.9 -99.4 -117.9 -191.0 -227.9 -198.1
International reserves 26.5 29.8 55.2 69.5 78.7 87.0 83.7 87.8
6. Ratios
External debt stocks to exports (%) 46.3 84.3 106.6 119.9 107.0 88.7 92.5 98.6
External debt stocks to GNI (%) 33.3 46.4 61.4 59.8 51.0 37.5 36.3 37.2
Debt service to exports (%) 3.2 6.1 7.2 11.3 14.8 12.3 13.0 14.8
Short-term to external debt stocks (%) 3.4 22.8 16.1 1.7 0.2 0.8 0.4 0.6
Multilateral to external debt stocks (%) 79.1 49.3 34.0 33.1 38.7 53.0 53.0 57.9
Reserves to external debt stocks (%) 42.5 25.2 28.4 27.7 32.6 43.5 41.2 42.1
Reserves to imports (months) 1.9 1.9 3.0 2.6 2.6 2.4 2.1 2.4
268
ST. VINCENT AND THE GRENADINES
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 16.2 14.5 14.3 13.9 12.1 12.6 12.6 11.8
Interest 3.7 3.5 3.3 3.1 2.8 2.6 2.3 2.0
Private creditors
Principal 11.0 11.0 11.0 10.5 7.6 4.6 1.6 1.6
Interest 4.0 3.3 2.5 1.8 1.1 0.6 0.3 0.2
Notes:
Data on long-term public and publicly guaranteed debt are World Bank staff estimates based on reports provided by the country. Short-term debt data are
excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2007, 2008, and 2009 are $575 millions,
$447 millions, and $474 millions respectively.
269
SUDAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 14,762 17,603 16,009 17,390 18,224 19,161 19,463 20,139
Long-term external debt 9,651 10,275 10,639 11,085 11,662 12,357 12,386 12,998
Public and publicly guaranteed 9,155 9,779 10,143 11,085 11,662 12,357 12,386 12,998
Private nonguaranteed 496 496 496 0 0 0 0 0
Use of IMF credit 956 960 625 518 518 482 406 403
Short-term external debt 4,155 6,368 4,745 5,788 6,043 6,322 6,671 6,739
interest arrears on long-term 3,705 5,737 4,474 5,377 5,707 6,048 6,195 6,522
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 5,703 7,637 7,291 7,753 8,117 8,356 8,231 8,352
/RQJWHUPSXEOLFVHFWRUGHEW 9,651 10,275 10,639 11,085 11,662 12,357 12,386 12,998
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 35 0 343 335 593 285 1,036 1,281
External debt flows
Disbursements 185 51 861 369 465 662 465 961
Long-term external debt 185 51 861 369 465 662 465 961
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 16 54 197 319 265 276 283 365
Long-term external debt 15 15 143 291 238 216 218 354
IMF repurchases 1 39 54 28 27 60 66 11
Net flows 169 0 625 58 124 324 384 337
Long-term external debt 170 36 718 78 226 446 247 606
Short-term external debt 0 3 -39 9 -75 -62 202 -259
Interest payments 34 15 48 79 64 91 81 118
Long-term external debt 9 2 42 67 54 83 66 111
IMF charges 0 13 0 0 0 0 0 0
Short-term external debt 25 0 5 12 10 8 15 7
2. Other non-debt resource inflows
Foreign direct investment -31 12 392 2,305 3,534 2,426 2,601 2,923
Portfolio equity 0 0 0 0 -35 -17 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.0 8.4 8.8 7.9 7.9
Japanese yen 2.3 2.9 2.0 1.3 1.3 0.8 1.0 0.7
Pound sterling 4.3 3.4 3.3 3.1 3.2 3.1 2.4 2.5
Swiss franc 18.6 19.6 12.2 13.9 14.3 14.6 15.4 15.2
U.S.dollars 48.1 47.6 60.3 54.0 52.2 50.5 48.9 50.5
4. Average terms of new commitments
Official creditors
Interest (%) 0.8 0.0 1.7 3.3 3.9 2.2 2.9 2.7
Maturity (years) 49.9 0.0 24.8 16.6 13.2 19.8 20.3 14.2
Grace period (years) 10.4 0.0 4.7 4.9 4.0 5.1 5.5 3.7
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 11,409 12,920 11,303 25,397 33,503 41,891 52,380 49,737
Exports of goods, services & income 511 683 1,839 4,982 5,993 9,447 12,207 8,283
Worker remit. & comp. of employees 62 346 641 1,016 1,179 1,769 3,100 3,059
Imports of goods, services & income 1,025 1,243 2,594 9,196 12,008 13,098 13,905 11,011
Profit remittances on FDI 0 0 0 1,399 2,093 2,404 2,971 ..
Current account balance -372 -500 -518 -2,768 -4,811 -3,268 -1,314 ..
International reserves 11 163 138 1,869 1,660 1,378 1,399 1,094
6. Ratios
External debt stocks to exports (%) 2,886.6 2,577.7 870.7 349.0 304.1 202.8 159.4 243.1
External debt stocks to GNI (%) 129.4 136.3 141.6 68.5 54.4 45.7 37.2 40.5
Debt service to exports (%) 9.7 10.1 13.3 8.0 5.5 3.9 3.0 5.8
Short-term to external debt stocks (%) 28.1 36.2 29.6 33.3 33.2 33.0 34.3 33.5
Multilateral to external debt stocks (%) 11.7 12.1 12.3 14.4 14.9 15.6 16.0 15.7
Reserves to external debt stocks (%) 0.1 0.9 0.9 10.7 9.1 7.2 7.2 5.4
Reserves to imports (months) 0.1 1.6 0.6 2.4 1.7 1.3 1.2 1.2
270
SUDAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 29
Total amount forgiven 0 0 0 15 0 52 108 52
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 712 713 689 485 522 434 375 331
Interest 140 129 112 99 99 85 74 66
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data on long-term public and publicly guaranteed debt exclude penalty interest.
271
SWAZILAND
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 256.8 249.5 264.8 442.3 413.8 404.1 370.0 417.8
Long-term external debt 252.2 238.3 262.9 362.2 364.7 368.6 355.0 390.8
Public and publicly guaranteed 252.2 238.3 262.9 362.2 364.7 368.6 355.0 390.8
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 4.6 11.1 1.8 80.1 49.1 35.5 15.0 27.0
interest arrears on long-term 0.1 0.5 0.0 15.1 18.1 5.5 15.0 25.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.2 4.0 0.2 7.1 10.6 6.2 11.5 22.3
/RQJWHUPSXEOLFVHFWRUGHEW 252.2 238.3 262.9 362.2 364.7 368.6 355.0 390.8
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 0.0 29.0 0.7 0.0 6.6 0.0 0.1 24.2
External debt flows
Disbursements 13.6 8.1 15.8 51.1 22.9 12.4 56.6 33.2
Long-term external debt 13.6 8.1 15.8 51.1 22.9 12.4 56.6 33.2
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments 34.6 13.5 12.4 18.1 17.4 22.4 33.5 28.4
Long-term external debt 34.2 13.5 12.4 18.1 17.4 22.4 33.5 28.4
IMF repurchases 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows -37.6 -1.1 -47.5 54.1 -28.5 -11.0 -6.9 6.8
Long-term external debt -20.6 -5.4 3.4 33.1 5.5 -10.0 23.1 4.8
Short-term external debt -16.7 4.3 -50.9 21.0 -34.0 -1.0 -30.0 2.0
Interest payments 9.7 4.6 18.2 16.4 18.1 24.8 19.1 15.8
Long-term external debt 9.2 4.1 16.1 13.6 15.1 23.4 18.8 15.8
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.4 0.4 2.1 2.8 3.1 1.4 0.4 0.0
2. Other non-debt resource inflows
Foreign direct investment 30.1 51.8 90.7 -45.9 121.0 37.5 105.8 66.0
Portfolio equity -2.2 0.8 1.4 0.8 5.5 1.0 .. -6.6
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 11.5 11.7 12.2 18.3 17.6
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 10.3 4.6 1.0 0.2 0.1 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 11.3 8.2 10.4 16.5 15.6 14.5 14.1 15.6
4. Average terms of new commitments
Official creditors
Interest (%) 0.0 7.1 3.0 0.0 2.5 0.0 2.8 3.0
Maturity (years) 0.0 19.5 40.2 0.0 21.8 0.0 41.4 27.6
Grace period (years) 0.0 5.0 27.2 0.0 4.3 0.0 10.8 4.8
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1174.0 1779.5 1523.8 2702.3 2683.7 2990.9 2829.6 2708.0
Exports of goods, services & income 819.6 1182.2 1376.4 2190.4 2187.8 2480.3 .. 2065.0
Worker remit. & comp. of employees 112.8 82.6 56.9 95.4 98.6 100.5 100.5 111.4
Imports of goods, services & income 870.4 1355.9 1522.9 2390.5 2515.9 2739.8 2288.9 2268.0
Profit remittances on FDI 85.4 68.0 65.9 44.0 167.0 160.0 .. ..
Current account balance 50.7 -29.7 -45.9 -102.6 -196.6 -65.5 .. ..
International reserves 216.5 298.2 351.8 243.9 372.5 774.2 751.9 958.9
6. Ratios
External debt stocks to exports (%) 31.3 21.1 19.2 20.2 18.9 16.3 .. 20.2
External debt stocks to GNI (%) 21.9 14.0 17.4 16.4 15.4 13.5 13.1 15.4
Debt service to exports (%) 5.4 1.5 2.2 1.6 1.6 1.9 .. 2.1
Short-term to external debt stocks (%) 1.8 4.5 0.7 18.1 11.9 8.8 4.1 6.5
Multilateral to external debt stocks (%) 45.3 48.2 56.6 54.1 59.5 62.3 65.1 61.0
Reserves to external debt stocks (%) 84.3 119.5 132.9 55.1 90.0 191.6 203.2 229.5
Reserves to imports (months) 3.0 2.6 2.8 1.2 1.8 3.4 3.9 5.1
272
SWAZILAND
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 30.8 33.5 32.0 30.7 29.8 27.6 24.0 21.4
Interest 12.5 11.8 10.7 9.5 8.3 7.2 6.2 5.5
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7
273
SYRIAN ARAB REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 17,353 21,897 22,156 5,531 5,505 5,625 5,318 5,236
Long-term external debt 15,085 16,955 16,464 5,025 4,916 4,976 4,737 4,480
Public and publicly guaranteed 15,085 16,955 16,464 5,025 4,916 4,976 4,737 4,480
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 0 0 0 0 0 0 0 0
Short-term external debt 2,268 4,942 5,692 506 589 649 581 756
interest arrears on long-term 577 2,013 2,372 193 196 142 145 206
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 983 5,743 8,828 265 270 213 220 226
/RQJWHUPSXEOLFVHFWRUGHEW 15,084 16,954 16,464 5,025 4,916 4,976 4,737 4,480
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 344 0 69 476 330 270 279 576
External debt flows
Disbursements 177 297 18 189 210 425 282 281
Long-term external debt 177 297 18 189 210 425 282 281
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 1,055 69 239 439 689 546 560 499
Long-term external debt 1,055 69 239 439 689 546 560 499
IMF repurchases 0 0 0 0 0 0 0 0
Net flows -671 540 -826 -357 -399 -7 -350 -104
Long-term external debt -879 229 -221 -250 -479 -121 -279 -218
Short-term external debt 208 311 -605 -107 80 114 -71 114
Interest payments 117 213 247 126 133 139 146 144
Long-term external debt 35 74 127 110 113 114 125 119
IMF charges 0 0 0 0 0 0 0 0
Short-term external debt 82 139 120 16 20 25 22 25
2. Other non-debt resource inflows
Foreign direct investment 40 100 270 500 659 1,242 1,467 1,434
Portfolio equity 0 0 0 0 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 12.4 14.9 21.6 22.4 26.1
Japanese yen 1.7 3.9 4.9 9.7 14.1 13.0 15.5 14.5
Pound sterling 0.6 1.0 0.6 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 86.6 81.8 84.1 49.1 42.3 36.6 33.3 31.0
4. Average terms of new commitments
Official creditors
Interest (%) 3.8 0.0 1.0 4.8 1.6 2.0 1.8 1.9
Maturity (years) 23.0 0.0 25.3 18.6 20.1 19.3 15.3 26.8
Grace period (years) 6.2 0.0 5.3 4.3 8.5 4.6 3.6 7.2
Private creditors
Interest (%) 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 12.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 11,955 11,591 18,446 27,685 32,472 39,860 53,367 50,910
Exports of goods, services & income 5,460 6,201 7,190 11,907 13,597 16,212 19,914 ..
Worker remit. & comp. of employees 385 339 180 823 795 1,150 1,400 1,050
Imports of goods, services & income 3,786 6,545 6,614 12,359 13,242 16,573 20,998 ..
Profit remittances on FDI 0 0 0 1,220 1,165 1,085 1,527 ..
Current account balance 1,762 263 1,061 299 920 459 66 ..
International reserves 447 448 355 17,774 16,997 17,707 17,784 18,300
6. Ratios
External debt stocks to exports (%) 317.8 353.1 308.1 46.4 40.5 34.7 26.7 ..
External debt stocks to GNI (%) 145.2 188.9 120.1 20.0 17.0 14.1 10.0 10.3
Debt service to exports (%) 21.5 4.5 6.8 4.7 6.0 4.2 3.5 ..
Short-term to external debt stocks (%) 13.1 22.6 25.7 9.1 10.7 11.5 10.9 14.4
Multilateral to external debt stocks (%) 4.9 4.8 2.6 18.3 20.7 26.9 29.0 31.6
Reserves to external debt stocks (%) 2.6 2.0 1.6 321.4 308.7 314.8 334.4 349.5
Reserves to imports (months) 1.4 0.8 0.6 17.3 15.4 12.8 10.2 ..
274
SYRIAN ARAB REPUBLIC
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 566 1,650 0 41 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 567 579 583 584 564 455 359 321
Interest 113 117 118 113 106 99 89 79
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Historical data for long-term public and publicly guaranteed debt are revised based on reports provided by Central Bank.
275
TAJIKISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 634 1,034 1,062 1,014 1,150 2,313 2,514
Long-term external debt .. 590 846 852 876 1,103 2,271 2,458
Public and publicly guaranteed .. 590 755 826 840 1,063 1,374 1,603
Private nonguaranteed .. 0 91 26 37 40 897 855
Use of IMF credit .. 0 111 127 44 46 15 41
Short-term external debt .. 43 77 84 93 0 27 15
interest arrears on long-term .. 43 45 2 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 142 121 23 1 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. 590 755 821 837 1,063 1,374 1,603
/RQJWHUPSULYDWHVHFWRUGHEW .. 0 91 31 39 40 897 855
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 0 53 87 640 160 91 130
External debt flows
Disbursements .. 28 62 137 164 266 387 573
Long-term external debt .. 28 37 108 149 266 387 532
IMF purchases .. 0 25 29 14 0 0 40
Principal repayments .. 0 37 56 39 41 97 428
Long-term external debt .. 0 28 42 39 41 66 413
IMF repurchases .. 0 10 14 0 0 31 15
Net flows .. 28 -4 80 135 132 317 133
Long-term external debt .. 28 9 66 110 225 321 120
Short-term external debt .. 0 -29 -1 11 -93 27 -12
Interest payments .. 0 25 14 28 23 29 43
Long-term external debt .. 0 21 10 23 20 28 43
IMF charges .. 0 2 1 0 0 0 0
Short-term external debt .. 0 2 3 4 3 0 0
2. Other non-debt resource inflows
Foreign direct investment .. 10 24 54 339 360 376 16
Portfolio equity .. .. .. 0 .. 0 0 0
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 6.1 5.3 3.9 2.8 2.8
Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 97.0 97.9 86.3 85.7 86.2 86.3 82.8
4. Average terms of new commitments
Official creditors
Interest (%) .. 0.0 3.8 0.7 2.0 1.5 1.2 2.0
Maturity (years) .. 0.0 26.4 29.5 20.7 30.5 32.0 20.9
Grace period (years) .. 0.0 6.7 7.8 5.3 7.9 12.2 5.5
Private creditors
Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 1,183 824 2,232 2,710 3,626 5,080 4,912
Exports of goods, services & income .. .. .. 1,264 1,658 1,728 1,776 1,225
Worker remit. & comp. of employees .. .. .. 467 1,019 1,691 2,544 1,748
Imports of goods, services & income .. .. .. 1,733 2,425 3,780 4,227 3,140
Profit remittances on FDI .. .. .. 2 46 26 4 5
Current account balance .. .. .. -19 -21 -495 48 -180
International reserves .. .. 94 189 204 .. .. ..
6. Ratios
External debt stocks to exports (%) .. .. .. 84.1 61.1 66.5 130.2 205.2
External debt stocks to GNI (%) .. 53.6 125.4 47.6 37.4 31.7 45.5 51.2
Debt service to exports (%) .. .. .. 5.6 4.0 3.7 7.1 38.4
Short-term to external debt stocks (%) .. 6.8 7.5 7.9 9.2 .. 1.2 0.6
Multilateral to external debt stocks (%) .. .. 18.0 48.8 59.3 58.0 31.7 32.9
Reserves to external debt stocks (%) .. .. 9.1 17.8 20.1 .. .. ..
Reserves to imports (months) .. .. .. 1.3 1.0 .. .. ..
276
TAJIKISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 0 0 0 0 0
Total amount forgiven .. 0 2 0 102 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 53 72 85 90 93 91 87 88
Interest 25 25 25 24 23 22 21 19
Private creditors
Principal 225 169 154 88 69 48 40 32
Interest 48 35 25 17 12 8 6 3
Notes:
Tajikistan was granted debt relief effective in 2006 under MDRI.
277
TANZANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 6,446 7,365 7,142 8,355 4,049 5,008 5,964 7,325
Long-term external debt 5,786 6,204 5,969 7,006 3,035 3,925 4,600 5,653
Public and publicly guaranteed 5,786 6,204 5,969 6,446 2,452 3,181 3,711 4,637
Private nonguaranteed 0 0 0 560 583 744 889 1,016
Use of IMF credit 140 197 324 342 13 18 17 329
Short-term external debt 520 964 849 1,006 1,001 1,065 1,347 1,342
interest arrears on long-term 404 904 647 615 595 628 764 837
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 826 1,494 695 655 405 430 497 520
/RQJWHUPSXEOLFVHFWRUGHEW 5,728 6,106 5,917 6,446 2,452 3,181 3,711 4,637
/RQJWHUPSULYDWHVHFWRUGHEW 58 98 52 560 583 744 889 1,016
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 697 141 391 617 840 858 824 823
External debt flows
Disbursements 325 261 264 474 577 654 523 1,372
Long-term external debt 296 261 211 466 573 649 523 1,065
IMF purchases 29 0 53 8 4 4 0 307
Principal repayments 118 141 104 77 36 20 22 105
Long-term external debt 89 122 94 31 36 20 22 105
IMF repurchases 28 19 10 46 0 0 0 0
Net flows 224 98 205 459 557 665 647 1,188
Long-term external debt 207 139 118 435 538 630 501 960
Short-term external debt 16 -22 44 62 15 31 146 -78
Interest payments 62 85 63 54 51 44 42 59
Long-term external debt 47 80 51 44 39 26 27 45
IMF charges 6 1 2 1 0 0 0 1
Short-term external debt 9 4 10 9 12 19 15 13
2. Other non-debt resource inflows
Foreign direct investment 0 120 463 494 597 647 744 645
Portfolio equity 0 0 0 3 3 3 3 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.9 7.5 6.6 5.6 4.6
Japanese yen 8.5 10.9 7.9 7.0 4.9 4.0 4.3 3.4
Pound sterling 11.7 10.2 8.9 4.8 0.7 0.1 0.1 0.1
Swiss franc 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 35.7 38.8 51.9 54.1 46.3 40.1 41.2 44.5
4. Average terms of new commitments
Official creditors
Interest (%) 1.1 1.7 0.9 1.2 0.8 0.7 0.7 0.8
Maturity (years) 35.4 22.3 38.2 37.1 41.0 41.3 42.5 37.5
Grace period (years) 9.4 7.4 9.8 9.3 10.1 10.1 10.3 9.9
Private creditors
Interest (%) 2.5 1.9 0.0 0.0 0.0 4.7 0.0 3.9
Maturity (years) 13.3 3.7 1.0 0.0 0.0 11.1 0.0 3.0
Grace period (years) 6.8 1.6 1.0 0.0 0.0 1.6 0.0 3.0
5. Major economic aggregates
Gross national income (GNI) 4,072 5,131 8,959 14,002 14,267 16,767 20,644 21,535
Exports of goods, services & income 544 1,297 1,341 3,029 3,526 4,210 5,327 4,643
Worker remit. & comp. of employees .. 1 8 19 15 14 19 18
Imports of goods, services & income 1,665 2,281 2,230 4,390 5,258 6,441 8,251 7,521
Profit remittances on FDI 0 2 13 66 66 68 68 ..
Current account balance -559 -590 -499 -864 -1,143 -1,580 -2,307 ..
International reserves 193 270 974 2,049 2,259 2,886 2,863 3,470
6. Ratios
External debt stocks to exports (%) 1,184.3 567.9 532.6 275.8 114.8 119.0 112.0 157.8
External debt stocks to GNI (%) 158.3 143.5 79.7 59.7 28.4 29.9 28.9 34.0
Debt service to exports (%) 32.9 17.4 12.4 4.4 2.5 1.5 1.2 3.5
Short-term to external debt stocks (%) 8.1 13.1 11.9 12.0 24.7 21.3 22.6 18.3
Multilateral to external debt stocks (%) 30.6 37.9 45.7 58.3 36.7 43.6 44.9 48.8
Reserves to external debt stocks (%) 3.0 3.7 13.6 24.5 55.8 57.6 48.0 47.4
Reserves to imports (months) 1.4 1.4 5.2 5.6 5.2 5.4 4.2 5.5
278
TANZANIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 183 0 342 0 0 0 0 0
Total amount forgiven 113 140 588 296 5,202 13 22 5
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 105 93 97 78 85 100 124 144
Interest 40 42 43 44 44 43 42 41
Private creditors
Principal 184 160 185 219 101 77 65 49
Interest 37 32 28 18 15 12 10 9
Notes:
Data on long-term public and publicly guaranteed debt include debt liabilities of Zanzibar. Data on long-term private nonguaranteed debt are World Bank staff
estimates from 2004 to 2007. Data on long-term private nonguaranteed debt are reported by Central Bank from 2008. Tanzania was granted debt relief effective
in 2006 under MDRI.
279
THAILAND
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 28,094 100,039 79,720 46,354 45,893 48,644 54,858 58,755
Long-term external debt 19,771 55,944 61,778 30,340 28,081 27,004 30,644 30,873
Public and publicly guaranteed 12,460 16,826 29,463 14,666 12,543 10,856 11,583 11,185
Private nonguaranteed 7,311 39,117 32,316 15,675 15,538 16,148 19,061 19,689
Use of IMF credit 1 0 3,062 0 0 0 0 0
Short-term external debt 8,322 44,095 14,880 16,014 17,812 21,640 24,214 27,881
interest arrears on long-term 0 0 0 0 0 0 4 8
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 12,460 16,826 29,463 14,666 12,543 10,856 11,583 11,185
/RQJWHUPSULYDWHVHFWRUGHEW 7,311 39,117 32,316 15,675 15,538 16,148 19,061 19,689
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 1,755 2,930 1,337 2,166 500 511 2,663 923
External debt flows
Disbursements 4,569 10,715 4,031 16,133 13,725 18,130 13,049 9,043
Long-term external debt 4,569 10,715 4,031 16,133 13,725 18,130 13,049 9,043
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 3,264 4,398 9,142 16,561 12,833 20,474 15,225 10,909
Long-term external debt 2,983 4,398 8,945 16,561 12,833 20,474 15,225 10,909
IMF repurchases 281 0 198 0 0 0 0 0
Net flows 3,515 21,233 -13,649 4,098 2,690 1,484 393 1,797
Long-term external debt 1,586 6,317 -4,913 -428 892 -2,344 -2,177 -1,866
Short-term external debt 2,210 14,916 -8,538 4,526 1,798 3,828 2,570 3,663
Interest payments 2,026 4,189 4,849 1,624 1,919 1,748 1,858 1,714
Long-term external debt 1,355 2,646 3,776 1,121 1,157 959 1,285 1,220
IMF charges 21 0 168 0 0 0 0 0
Short-term external debt 650 1,543 905 503 761 789 573 495
2. Other non-debt resource inflows
Foreign direct investment 2,444 2,068 3,366 8,055 9,453 11,324 8,570 5,956
Portfolio equity 440 2,253 900 5,121 5,242 4,268 -3,802 1,871
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.9 2.1 2.5 2.0 1.9
Japanese yen 42.7 47.7 46.3 53.6 56.1 58.6 56.3 59.7
Pound sterling 0.4 0.2 0.1 0.1 0.1 0.1 0.0 0.0
Swiss franc 5.7 0.9 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 15.8 27.2 46.3 42.9 40.9 38.0 41.0 38.1
4. Average terms of new commitments
Official creditors
Interest (%) 4.4 4.4 1.5 1.6 0.0 2.0 1.0 1.0
Maturity (years) 25.6 23.5 38.1 17.5 0.0 17.2 24.7 24.1
Grace period (years) 7.8 6.4 8.2 6.9 0.0 5.2 6.7 6.6
Private creditors
Interest (%) 5.8 6.6 1.5 4.3 5.4 5.4 3.4 3.7
Maturity (years) 15.2 8.9 7.3 10.5 5.9 9.6 6.3 9.1
Grace period (years) 5.9 4.3 3.5 9.1 2.3 9.9 3.5 1.1
5. Major economic aggregates
Gross national income (GNI) 84,271 165,281 120,809 167,799 198,875 238,083 261,738 252,013
Exports of goods, services & income 31,289 74,093 85,997 133,171 157,417 188,929 215,726 186,086
Worker remit. & comp. of employees 973 1,695 1,697 1,187 1,333 1,635 1,898 1,637
Imports of goods, services & income 38,783 88,161 77,269 143,821 158,468 177,190 218,794 170,291
Profit remittances on FDI 312 .. .. 4,501 4,031 5,798 4,162 4,162
Current account balance -7,281 -13,582 9,313 -7,647 2,316 15,678 1,698 20,284
International reserves 14,258 36,939 32,665 52,076 67,008 87,472 111,009 138,419
6. Ratios
External debt stocks to exports (%) 89.8 135.0 92.7 34.8 29.2 25.7 25.4 31.6
External debt stocks to GNI (%) 33.3 60.5 66.0 27.6 23.1 20.4 21.0 23.3
Debt service to exports (%) 16.9 11.6 16.3 13.7 9.4 11.8 7.9 6.8
Short-term to external debt stocks (%) 29.6 44.1 18.7 34.5 38.8 44.5 44.1 47.5
Multilateral to external debt stocks (%) 13.2 3.2 6.7 1.8 1.4 0.6 0.5 0.4
Reserves to external debt stocks (%) 50.8 36.9 41.0 112.3 146.0 179.8 202.4 235.6
Reserves to imports (months) 4.4 5.0 5.1 4.3 5.1 5.9 6.1 9.8
280
THAILAND
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 431 441 394 414 417 454 470 461
Interest 111 114 112 106 101 93 85 77
Private creditors
Principal 5,823 3,467 3,239 2,886 2,098 1,847 1,007 1,085
Interest 772 628 546 443 346 240 197 137
Notes:
Short-term debt data for 2009 are World Bank staff estimates based on government statistics. Historical data on long-term private nonguaranteed debt are revised
based on reports provided by the country.
281
TOGO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 1,281 1,476 1,430 1,678 1,787 1,967 1,638 1,640
Long-term external debt 1,081 1,286 1,228 1,445 1,551 1,652 1,479 1,502
Public and publicly guaranteed 1,081 1,286 1,228 1,445 1,551 1,652 1,479 1,502
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 87 105 70 14 8 2 48 91
Short-term external debt 113 85 132 220 227 313 111 47
interest arrears on long-term 1 27 63 168 208 237 27 30
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 3 64 62 308 365 431 47 40
/RQJWHUPSXEOLFVHFWRUGHEW 1,081 1,286 1,228 1,445 1,551 1,652 1,479 1,502
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 115 69 0 26 51 20 0 212
External debt flows
Disbursements 110 59 24 15 53 3 52 76
Long-term external debt 89 26 24 15 53 3 2 35
IMF purchases 21 33 0 0 0 0 49 41
Principal repayments 43 18 19 19 22 11 142 41
Long-term external debt 27 7 10 8 16 4 141 41
IMF repurchases 16 11 9 11 6 7 2 0
Net flows 16 39 -44 22 -3 49 -83 -33
Long-term external debt 62 19 14 7 37 -1 -138 -7
Short-term external debt -51 -2 -49 26 -33 57 8 -67
Interest payments 43 11 10 2 4 4 54 14
Long-term external debt 33 8 5 0 2 2 51 13
IMF charges 4 1 0 0 0 0 0 0
Short-term external debt 6 3 5 1 2 2 3 0
2. Other non-debt resource inflows
Foreign direct investment 18 26 42 77 77 49 24 50
Portfolio equity 4 0 6 16 10 6 1 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 18.3 19.0 19.9 14.7 14.6
Japanese yen 3.0 3.3 6.2 4.9 4.6 4.5 4.1 3.9
Pound sterling 1.9 1.7 1.6 1.2 1.2 1.2 0.1 0.1
Swiss franc 10.3 10.9 7.8 9.2 9.3 9.4 4.4 4.2
U.S.dollars 44.2 47.4 52.6 49.6 48.1 46.7 58.3 56.4
4. Average terms of new commitments
Official creditors
Interest (%) 0.7 0.7 0.0 1.7 1.3 1.0 0.0 1.9
Maturity (years) 39.5 37.6 0.0 25.8 20.9 20.1 0.0 21.8
Grace period (years) 10.4 9.9 0.0 6.2 5.0 0.6 0.0 8.1
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 1,598 1,265 1,300 2,073 2,180 2,478 2,892 2,850
Exports of goods, services & income 696 473 457 857 879 974 1,217 ..
Worker remit. & comp. of employees 27 15 34 193 232 284 337 329
Imports of goods, services & income 912 713 664 1,249 1,299 1,469 1,763 ..
Profit remittances on FDI 15 1 17 47 55 44 51 ..
Current account balance -84 -122 -140 -204 -176 -216 -222 ..
International reserves 358 130 152 195 375 438 582 703
6. Ratios
External debt stocks to exports (%) 184.1 311.7 313.1 195.8 203.3 201.9 134.6 ..
External debt stocks to GNI (%) 80.1 116.7 110.0 81.0 82.0 79.4 56.6 57.5
Debt service to exports (%) 12.3 6.2 6.5 2.4 3.0 1.6 16.1 ..
Short-term to external debt stocks (%) 8.8 5.8 9.3 13.1 12.7 15.9 6.8 2.9
Multilateral to external debt stocks (%) 43.7 48.3 53.6 52.7 53.3 51.1 52.3 51.0
Reserves to external debt stocks (%) 28.0 8.8 10.7 11.6 21.0 22.3 35.5 42.9
Reserves to imports (months) 4.7 2.2 2.8 1.9 3.5 3.6 4.0 ..
282
TOGO
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 79 133 0 0 0 0 274 35
Total amount forgiven 18 107 0 0 0 0 318 16
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 54 56 58 62 70 69 73 75
Interest 27 27 27 26 25 24 23 22
Private creditors
Principal 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0
Notes:
Data on long-term public and publicly guaranteed debt include the effects of Paris Club debt restructuring agreement signed in 2009.
283
TONGA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 44.5 62.8 65.2 79.6 81.6 86.4 88.7 104.5
Long-term external debt 44.5 62.8 65.0 79.5 81.5 86.4 88.7 104.5
Public and publicly guaranteed 44.5 62.8 65.0 79.5 81.5 86.4 88.7 104.5
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.0 0.0 0.2 0.1 0.1 0.0 0.0 0.0
interest arrears on long-term 0.0 0.0 0.2 0.1 0.1 0.0 0.0 0.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.0 0.0 0.4 0.6 1.3 1.5 0.4 0.7
/RQJWHUPSXEOLFVHFWRUGHEW 44.5 62.8 65.0 79.5 81.5 86.4 88.7 104.5
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 5.7 12.0 0.0 1.0 0.0 57.9 0.0 0.8
External debt flows
Disbursements 3.3 6.2 5.4 4.5 2.8 4.5 8.5 17.4
Long-term external debt 3.3 6.2 5.4 4.5 2.8 4.5 8.5 17.4
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments 1.0 2.4 3.7 3.7 3.3 3.6 3.7 2.4
Long-term external debt 1.0 2.4 3.7 3.7 3.3 3.6 3.7 2.4
IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 2.2 3.8 1.8 0.9 -0.5 0.9 4.8 15.0
Long-term external debt 2.2 3.8 1.8 0.9 -0.5 0.9 4.8 15.0
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest payments 0.5 0.7 0.9 1.2 0.8 1.1 1.7 1.4
Long-term external debt 0.5 0.7 0.9 1.2 0.8 1.1 1.7 1.4
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2. Other non-debt resource inflows
Foreign direct investment 0.2 1.0 4.8 7.2 10.1 27.7 4.2 14.6
Portfolio equity -0.1 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 7.3 5.8 3.7 0.1 0.1
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 6.0 1.6 0.2 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 1.0 10.7 4.8 28.0 31.2 35.1 33.8 30.3
4. Average terms of new commitments
Official creditors
Interest (%) 0.9 4.5 0.0 0.8 0.0 2.0 0.0 0.0
Maturity (years) 39.7 35.9 0.0 39.9 0.0 20.8 0.0 0.0
Grace period (years) 10.2 8.9 0.0 10.4 0.0 5.8 0.0 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 116.5 169.3 155.1 261.6 301.3 311.3 353.3 318.4
Exports of goods, services & income 43.5 .. .. 59.5 44.2 51.1 59.9 49.8
Worker remit. & comp. of employees 24.0 .. .. 68.9 78.9 101.3 94.1 90.6
Imports of goods, services & income 75.0 .. .. 157.3 158.1 181.3 216.4 147.7
Profit remittances on FDI 0.3 .. .. 0.0 0.0 0.0 0.0 ..
Current account balance 5.8 .. .. -21.3 -31.1 -19.4 -60.1 ..
International reserves 31.3 28.7 24.6 46.9 48.0 65.2 69.8 95.7
6. Ratios
External debt stocks to exports (%) 102.3 .. .. 133.9 184.5 169.0 148.1 209.9
External debt stocks to GNI (%) 38.2 37.1 42.1 30.4 27.1 27.7 25.1 32.8
Debt service to exports (%) 3.5 .. .. 8.2 9.2 9.2 9.1 7.7
Short-term to external debt stocks (%) .. .. 0.4 0.1 0.2 .. .. ..
Multilateral to external debt stocks (%) 51.1 66.4 81.9 84.4 85.4 87.0 81.2 69.7
Reserves to external debt stocks (%) 70.5 45.7 37.8 58.9 58.8 75.5 78.6 91.6
Reserves to imports (months) 5.0 .. .. 3.6 3.6 4.3 3.9 7.8
284
TONGA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 3.6 4.1 4.2 6.3 7.5 7.5 7.5 7.5
Interest 1.8 2.0 2.1 2.1 2.0 2.0 1.9 1.8
Private creditors
Principal 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
285
TUNISIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 7,688 10,818 11,307 17,875 18,634 20,441 20,772 21,709
Long-term external debt 6,878 9,215 9,684 14,740 15,277 16,457 16,445 16,907
Public and publicly guaranteed 6,660 9,022 8,884 12,999 13,438 14,508 14,438 14,837
Private nonguaranteed 218 193 800 1,741 1,839 1,949 2,007 2,070
Use of IMF credit 176 293 32 0 0 0 0 0
Short-term external debt 634 1,310 1,590 3,135 3,357 3,984 4,327 4,801
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 15 1 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 6,660 9,016 8,884 12,969 13,408 14,418 14,343 14,689
/RQJWHUPSULYDWHVHFWRUGHEW 218 200 800 1,772 1,869 2,038 2,102 2,218
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 799 1,949 1,412 1,738 1,125 992 1,497 1,218
External debt flows
Disbursements 1,017 1,389 1,542 1,256 1,453 1,615 1,079 1,543
Long-term external debt 1,017 1,389 1,542 1,256 1,453 1,615 1,079 1,543
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 984 939 1,336 1,186 1,652 1,570 1,165 1,346
Long-term external debt 872 924 1,295 1,186 1,652 1,570 1,165 1,346
IMF repurchases 111 15 40 0 0 0 0 0
Net flows 292 654 259 -141 22 672 257 671
Long-term external debt 144 465 246 69 -200 45 -86 196
Short-term external debt 259 204 52 -210 222 627 343 474
Interest payments 447 541 570 848 881 926 845 758
Long-term external debt 394 486 489 686 686 742 744 700
IMF charges 23 17 3 0 0 0 0 0
Short-term external debt 30 38 78 162 195 184 101 58
2. Other non-debt resource inflows
Foreign direct investment 76 264 752 723 3,270 1,532 2,638 1,595
Portfolio equity 5 12 -18 12 65 30 -39 -89
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 40.1 46.7 50.2 48.5 49.0
Japanese yen 8.6 13.5 21.6 17.4 14.4 15.4 19.5 18.5
Pound sterling 0.1 0.0 0.5 0.3 0.2 0.1 0.1 0.1
Swiss franc 0.6 0.2 0.7 0.5 0.4 0.3 0.3 0.3
U.S.dollars 21.8 17.5 30.0 20.3 17.7 14.3 12.8 12.5
4. Average terms of new commitments
Official creditors
Interest (%) 6.0 6.2 4.0 3.1 3.2 2.1 3.0 1.7
Maturity (years) 18.5 24.1 20.8 19.2 21.5 22.3 20.7 22.0
Grace period (years) 5.0 4.6 6.0 3.5 6.4 5.9 5.2 5.4
Private creditors
Interest (%) 8.1 6.0 3.9 4.4 4.8 3.4 4.5 3.3
Maturity (years) 9.4 8.5 14.4 14.4 13.2 19.9 11.3 15.8
Grace period (years) 2.1 5.1 12.5 12.7 1.8 18.9 1.6 4.4
5. Major economic aggregates
Gross national income (GNI) 11,882 17,174 18,526 27,309 29,553 33,625 38,471 37,328
Exports of goods, services & income 5,300 8,098 8,701 14,969 16,350 20,620 25,719 20,787
Worker remit. & comp. of employees 551 680 796 1,393 1,510 1,716 1,977 1,966
Imports of goods, services & income 6,591 9,646 10,347 16,580 18,412 23,155 29,352 22,516
Profit remittances on FDI 97 174 468 962 988 1,523 1,958 1,588
Current account balance -463 -774 -821 -299 -619 -917 -1,711 ..
International reserves 867 1,689 1,871 4,548 6,912 8,032 9,039 11,294
6. Ratios
External debt stocks to exports (%) 145.1 133.6 129.9 119.4 114.0 99.1 80.8 104.4
External debt stocks to GNI (%) 64.7 63.0 61.0 65.5 63.1 60.8 54.0 58.2
Debt service to exports (%) 27.0 18.3 21.9 13.6 15.5 12.1 7.8 10.1
Short-term to external debt stocks (%) 8.2 12.1 14.1 17.5 18.0 19.5 20.8 22.1
Multilateral to external debt stocks (%) 29.0 35.0 30.7 30.6 30.4 30.5 28.5 30.0
Reserves to external debt stocks (%) 11.3 15.6 16.6 25.4 37.1 39.3 43.5 52.0
Reserves to imports (months) 1.6 2.1 2.2 3.3 4.5 4.2 3.7 6.0
286
TUNISIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 1,309 1,183 1,108 1,069 1,065 1,067 977 942
Interest 282 279 267 249 228 204 179 155
Private creditors
Principal 1,061 1,294 1,089 754 230 179 156 368
Interest 357 311 222 162 132 120 110 99
Notes:
Long-term private nonguaranteed debt data are World Bank staff estimates based on information provided by the government. Short-term debt is based on
reports provided by the country.
287
TURKEY
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 49,424 73,781 116,646 164,857 195,537 235,984 263,532 251,372
Long-term external debt 39,924 57,396 83,558 114,831 150,442 191,922 211,511 203,689
Public and publicly guaranteed 38,870 50,317 55,730 64,470 69,827 80,205 81,595 84,875
Private nonguaranteed 1,054 7,079 27,828 50,360 80,615 111,717 129,916 118,814
Use of IMF credit 0 685 4,176 14,646 10,762 7,158 8,524 7,958
Short-term external debt 9,500 15,701 28,912 35,380 34,333 36,903 43,497 39,725
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 38,570 50,131 55,713 64,299 69,616 79,723 80,474 83,574
/RQJWHUPSULYDWHVHFWRUGHEW 1,354 7,265 27,846 50,532 80,826 112,199 131,037 120,115
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 4,628 4,435 14,470 10,464 11,233 13,472 12,324 8,706
External debt flows
Disbursements 5,243 6,980 26,414 39,965 55,059 67,989 68,619 41,511
Long-term external debt 5,243 6,638 22,955 37,505 52,118 66,842 65,065 41,511
IMF purchases 0 341 3,459 2,461 2,941 1,147 3,554 0
Principal repayments 4,010 7,020 13,831 32,429 31,002 36,481 42,069 50,015
Long-term external debt 3,961 7,020 13,744 24,649 23,510 31,317 40,102 49,309
IMF repurchases 49 0 87 7,780 7,493 5,164 1,967 706
Net flows 4,988 4,350 18,023 12,055 23,010 34,079 33,145 -12,277
Long-term external debt 1,282 -382 9,211 12,856 28,609 35,525 24,963 -7,798
Short-term external debt 3,755 4,391 5,440 4,519 -1,047 2,570 6,594 -3,772
Interest payments 3,412 4,431 6,853 9,245 10,481 12,534 12,526 11,563
Long-term external debt 2,891 3,464 5,000 6,404 7,522 9,870 10,899 9,981
IMF charges 4 24 52 951 799 563 408 192
Short-term external debt 517 942 1,800 1,890 2,160 2,100 1,218 1,390
2. Other non-debt resource inflows
Foreign direct investment 684 885 982 10,031 20,185 22,047 18,269 7,955
Portfolio equity 89 195 489 5,669 1,939 5,138 716 2,827
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 23.4 25.1 27.5 28.1 30.3
Japanese yen 12.1 23.3 12.1 3.8 3.2 2.9 3.9 3.8
Pound sterling 0.8 0.9 0.8 0.1 0.0 0.0 0.0 0.0
Swiss franc 5.2 2.9 0.3 0.2 0.2 0.2 0.3 0.3
U.S.dollars 40.0 38.3 58.0 72.0 70.9 68.8 67.2 65.2
4. Average terms of new commitments
Official creditors
Interest (%) 6.7 5.4 6.5 2.8 4.5 4.4 4.5 2.6
Maturity (years) 17.0 17.7 14.6 24.6 16.2 18.2 21.9 18.1
Grace period (years) 7.3 5.7 4.8 6.7 6.2 6.9 6.8 7.1
Private creditors
Interest (%) 9.4 6.3 8.6 6.1 6.4 6.4 6.9 6.7
Maturity (years) 6.5 4.5 11.3 13.1 11.5 11.2 13.2 9.0
Grace period (years) 3.2 2.7 8.5 12.1 10.0 9.1 10.9 8.6
5. Major economic aggregates
Gross national income (GNI) 148,168 166,281 262,566 477,105 524,209 640,047 722,178 609,428
Exports of goods, services & income 21,959 38,070 53,189 108,782 123,628 150,811 182,685 148,018
Worker remit. & comp. of employees 3,246 3,327 4,560 887 1,146 1,248 1,476 970
Imports of goods, services & income 28,949 44,806 67,873 132,433 157,733 191,365 226,744 164,278
Profit remittances on FDI 161 312 279 1,051 1,182 2,208 2,937 2,444
Current account balance -2,625 -2,338 -9,920 -22,197 -32,197 -38,311 -41,946 -13,961
International reserves 7,626 13,891 23,515 52,494 63,265 76,496 73,675 74,933
6. Ratios
External debt stocks to exports (%) 225.1 193.8 219.3 151.5 158.2 156.5 144.3 169.8
External debt stocks to GNI (%) 33.4 44.4 44.4 34.6 37.3 36.9 36.5 41.2
Debt service to exports (%) 33.8 30.1 38.9 38.3 33.6 32.5 29.9 41.6
Short-term to external debt stocks (%) 19.2 21.3 24.8 21.5 17.6 15.6 16.5 15.8
Multilateral to external debt stocks (%) 19.5 12.1 4.9 4.6 4.5 5.1 5.3 6.7
Reserves to external debt stocks (%) 15.4 18.8 20.2 31.8 32.4 32.4 28.0 29.8
Reserves to imports (months) 3.2 3.7 4.2 4.8 4.8 4.8 3.9 5.5
288
TURKEY
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 2,102 1,888 2,003 2,211 2,327 2,255 2,757 2,996
Interest 564 578 588 578 552 517 472 422
Private creditors
Principal 33,671 25,338 23,627 18,327 14,038 12,611 10,808 9,662
Interest 7,415 7,268 6,643 6,101 4,820 4,798 3,691 3,182
Notes:
Historical data are revised as data in previous publications included local currency debt data. Data on long-term public and publicly guaranteed debt include
nonresident deposits made under the Dresdner Bank scheme, amounting to $11.5 billion at end-2009. Short-term debt data are based on government statistics.
289
TURKMENISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 402.2 2518.3 1058.0 886.0 743.4 638.2 575.7
Long-term external debt .. 384.9 2288.1 911.0 734.3 649.9 587.4 501.0
Public and publicly guaranteed .. 384.9 2271.3 877.8 730.5 648.2 586.8 463.3
Private nonguaranteed .. 0.0 16.7 33.1 3.9 1.8 0.6 37.6
Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt .. 17.4 230.3 147.0 151.7 93.5 50.8 74.8
interest arrears on long-term .. 9.4 5.0 5.0 3.7 3.5 0.8 0.8
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 130.2 148.1 16.9 1.4 1.7 1.7 1.7
/RQJWHUPSXEOLFVHFWRUGHEW .. 384.9 2271.3 877.8 730.5 648.2 586.8 463.3
/RQJWHUPSULYDWHVHFWRUGHEW .. 0.0 16.7 33.1 3.9 1.8 0.6 37.6
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 290.5 4.7 22.0 50.2 65.7 0.0 0.0
External debt flows
Disbursements .. 113.0 430.1 89.0 9.5 38.9 25.9 35.4
Long-term external debt .. 113.0 430.1 89.0 9.5 38.9 25.9 35.4
IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments .. 80.3 353.0 261.4 216.5 166.3 140.8 149.1
Long-term external debt .. 80.3 353.0 261.4 216.5 166.3 140.8 149.1
IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows .. -39.2 -1.6 -280.4 -200.9 -185.4 -154.9 -89.7
Long-term external debt .. 32.8 77.1 -172.4 -206.9 -127.4 -114.9 -113.7
Short-term external debt .. -72.0 -78.8 -108.0 6.0 -58.0 -40.0 24.0
Interest payments .. 24.1 115.2 45.9 38.3 33.9 28.9 19.2
Long-term external debt .. 22.1 101.9 39.1 33.2 29.8 26.7 18.2
IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt .. 2.0 13.2 6.8 5.1 4.0 2.2 1.0
2. Other non-debt resource inflows
Foreign direct investment .. 233.0 131.0 418.2 730.9 804.0 820.0 1355.0
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 31.8 35.9 35.6 30.9 32.5
Japanese yen .. 0.0 31.6 43.7 43.3 40.5 41.5 33.4
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars .. 72.1 51.5 18.2 13.4 9.8 7.9 6.4
4. Average terms of new commitments
Official creditors
Interest (%) .. 4.4 4.0 1.4 3.2 3.0 0.0 0.0
Maturity (years) .. 13.4 10.2 13.8 20.1 20.0 0.0 0.0
Grace period (years) .. 2.8 3.7 6.0 4.6 3.5 0.0 0.0
Private creditors
Interest (%) .. 6.5 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) .. 7.4 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) .. 1.9 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 2500.6 2727.4 7541.4 9651.6 11917.2 15861.1 19238.4
Exports of goods, services & income .. .. .. .. .. .. .. ..
Worker remit. & comp. of employees .. .. .. .. .. .. .. ..
Imports of goods, services & income .. .. .. .. .. 4901.0 7781.0 ..
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. .. .. .. .. .. ..
International reserves .. 1168.0 .. .. .. .. .. ..
6. Ratios
External debt stocks to exports (%) .. .. .. .. .. .. .. ..
External debt stocks to GNI (%) .. 16.1 92.3 14.0 9.2 6.2 4.0 3.0
Debt service to exports (%) .. .. .. .. .. .. .. ..
Short-term to external debt stocks (%) .. 4.3 9.1 13.9 17.1 12.6 8.0 13.0
Multilateral to external debt stocks (%) .. 14.5 1.9 3.8 3.4 3.1 3.1 3.0
Reserves to external debt stocks (%) .. 290.4 .. .. .. .. .. ..
Reserves to imports (months) .. .. .. .. .. .. .. ..
290
TURKMENISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0.0 48.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 95.2 89.9 38.1 35.9 36.2 36.2 15.5 13.1
Interest 9.7 8.3 6.5 5.7 5.1 4.3 3.5 3.1
Private creditors
Principal 34.6 30.0 10.7 10.7 5.4 0.0 0.0 0.0
Interest 3.0 1.6 0.9 0.4 0.1 0.0 0.0 0.0
Notes:
Data on long-term public and publicly guaranteed debt and private nonguaranteed debt for 2009 are World Bank staff estimates.
291
UGANDA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 2,606 3,609 3,497 4,419 1,257 1,607 2,246 2,490
Long-term external debt 2,177 3,089 3,051 4,209 1,099 1,571 1,778 2,245
Public and publicly guaranteed 2,177 3,089 3,051 4,209 1,099 1,571 1,778 2,245
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 282 417 316 131 9 9 9 9
Short-term external debt 146 103 129 79 148 26 458 235
interest arrears on long-term 89 69 58 29 27 26 26 26
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 225 226 124 75 64 53 51 51
/RQJWHUPSXEOLFVHFWRUGHEW 2,157 3,066 3,047 4,209 1,099 1,570 1,777 2,241
/RQJWHUPSULYDWHVHFWRUGHEW 20 23 5 0 0 1 1 5
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 440 95 145 382 166 686 621 783
External debt flows
Disbursements 372 290 230 233 250 473 275 493
Long-term external debt 293 234 219 228 247 473 275 493
IMF purchases 79 56 12 6 3 0 0 0
Principal repayments 109 97 48 135 70 50 52 49
Long-term external debt 65 69 26 99 70 50 52 49
IMF repurchases 43 28 21 36 0 0 0 0
Net flows 269 189 177 89 251 303 655 221
Long-term external debt 227 165 192 129 177 424 223 444
Short-term external debt 6 -4 -6 -10 71 -121 432 -223
Interest payments 36 38 26 35 28 16 22 22
Long-term external debt 18 34 21 33 24 12 15 18
IMF charges 13 2 2 0 0 0 0 0
Short-term external debt 5 2 4 3 4 3 6 4
2. Other non-debt resource inflows
Foreign direct investment -6 121 161 380 644 792 729 604
Portfolio equity 0 0 0 0 19 -23 13 122
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 2.8 13.9 10.2 7.4 5.1
Japanese yen 0.3 1.2 1.8 0.0 0.0 0.0 0.3 0.5
Pound sterling 6.7 2.1 0.6 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 53.0 66.2 62.5 68.0 56.1 48.9 47.2 48.2
4. Average terms of new commitments
Official creditors
Interest (%) 1.1 0.9 0.8 0.8 0.8 0.8 0.7 0.9
Maturity (years) 36.5 39.2 40.0 45.7 39.3 41.1 40.7 41.8
Grace period (years) 9.9 10.0 7.9 10.2 9.8 9.9 9.9 9.0
Private creditors
Interest (%) 0.5 0.0 7.5 0.0 0.0 0.0 0.0 0.0
Maturity (years) 1.3 0.0 8.2 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.7 0.0 2.8 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 4,227 5,698 6,086 8,771 9,679 11,674 14,161 15,404
Exports of goods, services & income 178 682 716 1,567 1,743 2,635 3,566 3,645
Worker remit. & comp. of employees .. .. 238 322 411 452 724 694
Imports of goods, services & income 734 1,603 1,574 2,653 3,297 4,275 5,724 5,614
Profit remittances on FDI 0 60 19 202 249 262 234 202
Current account balance -263 -281 -359 -49 -438 -532 -917 -875
International reserves 44 459 808 1,344 1,811 2,560 2,301 2,994
6. Ratios
External debt stocks to exports (%) 1,465.6 529.2 488.2 281.9 72.1 61.0 63.0 68.3
External debt stocks to GNI (%) 61.6 63.3 57.5 50.4 13.0 13.8 15.9 16.2
Debt service to exports (%) 81.4 19.8 10.3 10.9 5.6 2.5 2.1 2.0
Short-term to external debt stocks (%) 5.6 2.8 3.7 1.8 11.8 1.6 20.4 9.4
Multilateral to external debt stocks (%) 49.4 61.8 75.3 89.0 67.6 83.1 69.5 81.0
Reserves to external debt stocks (%) 1.7 12.7 23.1 30.4 144.1 159.3 102.4 120.3
Reserves to imports (months) 0.7 3.4 6.2 6.1 6.6 7.2 4.8 6.4
292
UGANDA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 16 172 35 154 10 0 0 0
Total amount forgiven 51 41 217 53 3,554 20 7 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 48 48 52 57 58 58 59 75
Interest 23 25 26 26 26 26 26 25
Private creditors
Principal 0 0 0 0 1 2 2 2
Interest 0 0 0 0 0 0 0 0
Notes:
Uganda was granted debt relief effective in 2006 under MDRI.
293
UKRAINE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 8,429 12,190 32,590 50,104 73,879 93,114 93,153
Long-term external debt .. 6,664 9,670 19,339 33,913 50,534 67,769 62,306
Public and publicly guaranteed .. 6,581 8,142 9,751 9,755 10,847 11,122 10,449
Private nonguaranteed .. 84 1,528 9,588 24,158 39,687 56,648 51,857
Use of IMF credit .. 1,542 2,073 1,188 830 431 4,709 10,974
Short-term external debt .. 223 447 12,063 15,361 22,914 20,636 19,873
interest arrears on long-term .. 35 183 110 150 199 335 650
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 88 567 240 286 322 653 2,651
/RQJWHUPSXEOLFVHFWRUGHEW .. 6,581 8,117 9,734 9,746 10,847 11,122 10,449
/RQJWHUPSULYDWHVHFWRUGHEW .. 84 1,553 9,605 24,166 39,687 56,648 51,857
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 673 157 1,876 1,219 1,925 990 1,496
External debt flows
Disbursements .. 1,997 1,638 7,969 16,690 26,127 36,389 21,477
Long-term external debt .. 801 1,387 7,969 16,690 26,127 31,647 15,307
IMF purchases .. 1,196 251 0 0 0 4,742 6,170
Principal repayments .. 636 2,952 4,411 7,135 8,836 14,248 17,367
Long-term external debt .. 636 2,103 4,111 6,724 8,409 13,907 17,279
IMF repurchases .. 0 849 300 410 427 341 88
Net flows .. 1,337 -1,287 5,257 12,813 24,795 19,727 3,031
Long-term external debt .. 165 -716 3,858 9,966 17,718 17,739 -1,972
Short-term external debt .. -24 26 1,698 3,258 7,504 -2,414 -1,078
Interest payments .. 501 709 1,430 2,204 2,983 3,674 3,921
Long-term external debt .. 447 573 986 1,676 2,285 3,227 3,530
IMF charges .. 42 122 50 53 39 14 135
Short-term external debt .. 12 14 393 475 659 433 256
2. Other non-debt resource inflows
Foreign direct investment .. 267 595 7,808 5,604 9,891 10,913 4,816
Portfolio equity .. .. 146 82 322 715 388 105
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 18.5 16.5 14.5 12.5 19.4
Japanese yen .. 0.0 2.0 1.2 4.0 3.6 4.1 4.7
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.0 0.0 0.0 6.5 6.3 6.5 0.0
U.S.dollars .. 63.3 53.2 70.2 64.1 68.6 70.9 71.0
4. Average terms of new commitments
Official creditors
Interest (%) .. 4.7 7.3 3.7 6.2 4.7 3.3 2.0
Maturity (years) .. 13.4 15.2 20.3 20.0 19.8 23.7 24.6
Grace period (years) .. 4.8 4.5 6.1 5.5 5.3 5.2 5.2
Private creditors
Interest (%) .. 6.5 0.0 5.2 3.4 6.9 0.0 0.0
Maturity (years) .. 8.0 0.0 10.7 9.2 6.7 0.0 0.0
Grace period (years) .. 2.5 0.0 9.9 9.2 6.7 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) .. 47,438 30,320 85,157 106,031 140,602 178,452 111,105
Exports of goods, services & income .. 17,337 19,665 45,136 51,571 67,657 91,031 58,877
Worker remit. & comp. of employees .. .. 33 595 829 4,503 5,769 5,073
Imports of goods, services & income .. 18,961 19,032 45,450 56,361 76,468 106,921 63,339
Profit remittances on FDI .. .. 43 268 996 1,178 2,506 2,542
Current account balance .. -1,152 1,481 2,531 -1,617 -5,272 -12,763 -1,801
International reserves .. 1,069 1,477 19,388 22,360 32,484 31,543 26,501
6. Ratios
External debt stocks to exports (%) .. 48.6 62.0 72.2 97.2 109.2 102.3 158.2
External debt stocks to GNI (%) .. 17.8 40.2 38.3 47.3 52.5 52.2 83.8
Debt service to exports (%) .. 6.6 18.6 12.9 18.1 17.5 19.7 36.2
Short-term to external debt stocks (%) .. 2.6 3.7 37.0 30.7 31.0 22.2 21.3
Multilateral to external debt stocks (%) .. 7.8 19.5 8.5 5.3 3.6 3.6 4.5
Reserves to external debt stocks (%) .. 12.7 12.1 59.5 44.6 44.0 33.9 28.4
Reserves to imports (months) .. 0.7 0.9 5.1 4.8 5.1 3.5 5.0
294
UKRAINE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 2,535 2,185 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 517 559 554 563 439 463 449 449
Interest 99 86 72 61 52 48 43 39
Private creditors
Principal 14,431 11,759 8,215 4,909 3,013 2,715 1,575 1,813
Interest 3,590 2,488 1,878 1,300 987 760 712 814
Notes:
Short-term debt is based on reports provided by the National Bank of Ukraine.
295
URUGUAY
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 4,415 5,318 8,408 11,099 10,141 11,523 10,985 12,159
Long-term external debt 3,114 3,960 5,873 8,059 9,402 10,615 10,168 11,035
Public and publicly guaranteed 3,045 3,833 5,551 7,734 9,083 10,328 9,980 10,955
Private nonguaranteed 69 127 322 325 319 287 187 80
Use of IMF credit 101 21 149 2,304 0 0 0 0
Short-term external debt 1,201 1,336 2,387 736 739 908 817 1,124
interest arrears on long-term 0 0 0 0 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 0 0 0 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 3,042 3,831 5,550 7,734 9,083 10,328 9,980 10,955
/RQJWHUPSULYDWHVHFWRUGHEW 72 130 322 325 319 287 187 80
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 339 452 759 2,855 2,059 1,526 887 1,623
External debt flows
Disbursements 358 661 928 1,626 2,330 1,476 674 1,564
Long-term external debt 346 661 928 1,329 2,033 1,476 674 1,564
IMF purchases 12 0 0 297 298 0 0 0
Principal repayments 559 484 666 1,308 4,939 540 913 1,326
Long-term external debt 434 474 666 839 2,269 540 913 1,326
IMF repurchases 124 10 0 469 2,670 0 0 0
Net flows -134 281 382 171 -2,605 1,104 -330 545
Long-term external debt -88 187 262 490 -236 935 -239 238
Short-term external debt 66 104 120 -147 3 169 -91 307
Interest payments 428 379 544 629 723 688 572 580
Long-term external debt 318 298 413 434 580 638 535 529
IMF charges 16 2 8 115 106 5 0 0
Short-term external debt 93 80 123 80 37 45 37 51
2. Other non-debt resource inflows
Foreign direct investment 42 157 269 847 1,493 1,321 2,205 1,139
Portfolio equity 0 0 5 -2 -27 2 2 2
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 8.5 6.8 6.1 4.7 4.4
Japanese yen 5.1 6.4 3.4 2.9 2.4 4.5 5.5 4.7
Pound sterling 3.6 1.9 1.0 0.1 0.0 0.0 0.0 0.0
Swiss franc 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 64.9 53.8 80.8 83.9 87.3 86.7 87.2 89.0
4. Average terms of new commitments
Official creditors
Interest (%) 7.8 3.9 7.2 4.6 5.4 5.6 3.7 2.3
Maturity (years) 20.1 14.9 14.8 17.7 21.2 16.3 11.7 17.0
Grace period (years) 5.0 5.5 5.2 5.3 4.9 6.4 3.1 7.2
Private creditors
Interest (%) 9.8 7.0 7.8 8.0 6.8 3.6 8.1 8.6
Maturity (years) 8.7 7.2 7.7 15.3 24.7 21.5 8.6 15.0
Grace period (years) 1.0 3.3 7.2 15.0 24.7 19.9 7.2 13.0
5. Major economic aggregates
Gross national income (GNI) 8,961 18,994 22,757 16,863 19,366 23,406 30,436 35,292
Exports of goods, services & income 2,417 3,911 4,441 5,648 6,529 7,822 10,088 9,070
Worker remit. & comp. of employees .. .. .. 77 89 96 108 101
Imports of goods, services & income 2,239 4,200 5,035 5,750 7,047 8,171 11,463 8,953
Profit remittances on FDI 0 54 99 228 261 531 663 406
Current account balance 186 -213 -566 42 -392 -212 -1,225 259
International reserves 1,446 1,813 2,776 3,078 3,091 4,121 6,360 8,038
6. Ratios
External debt stocks to exports (%) 182.7 136.0 189.3 196.5 155.3 147.3 108.9 134.0
External debt stocks to GNI (%) 49.3 28.0 36.9 65.8 52.4 49.2 36.1 34.5
Debt service to exports (%) 40.8 22.1 27.2 34.3 86.7 15.7 14.7 21.0
Short-term to external debt stocks (%) 27.2 25.1 28.4 6.6 7.3 7.9 7.4 9.2
Multilateral to external debt stocks (%) 15.8 23.7 22.9 27.9 25.0 21.9 26.7 30.0
Reserves to external debt stocks (%) 32.7 34.1 33.0 27.7 30.5 35.8 57.9 66.1
Reserves to imports (months) 7.7 5.2 6.6 6.4 5.3 6.1 6.7 10.8
296
URUGUAY
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 955 178 542 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 361 342 330 334 343 336 316 407
Interest 103 95 87 77 68 59 50 41
Private creditors
Principal 154 329 56 30 27 216 274 343
Interest 496 486 475 473 472 463 436 432
Notes:
Long-term private nonguaranteed debt data only cover Inter-American Development Bank and Bonds. Short-term debt data are based on reports provided by
Central Bank from 1999.
297
UZBEKISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks .. 1,799 4,633 4,282 4,031 3,923 3,983 4,109
Long-term external debt .. 1,430 4,224 4,170 3,873 3,727 3,772 3,965
Public and publicly guaranteed .. 1,415 3,762 3,619 3,289 3,133 3,144 3,238
Private nonguaranteed .. 15 462 551 584 594 629 727
Use of IMF credit .. 157 127 0 0 0 0 0
Short-term external debt .. 212 282 112 158 196 211 144
interest arrears on long-term .. 0 3 8 0 0 0 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP .. 0 17 35 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW .. 1,288 3,605 3,577 3,276 3,114 3,138 3,233
/RQJWHUPSULYDWHVHFWRUGHEW .. 142 618 592 597 612 635 732
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV .. 980 310 212 107 405 292 376
External debt flows
Disbursements .. 791 769 400 306 373 455 651
Long-term external debt .. 630 769 400 306 373 455 651
IMF purchases .. 161 0 0 0 0 0 0
Principal repayments .. 149 648 642 677 580 562 523
Long-term external debt .. 149 583 623 677 580 562 523
IMF repurchases .. 0 65 18 0 0 0 0
Net flows .. 563 -223 -308 -317 -170 -93 61
Long-term external debt .. 481 186 -223 -371 -208 -108 128
Short-term external debt .. -79 -344 -66 54 38 15 -67
Interest payments .. 95 237 145 173 173 130 95
Long-term external debt .. 80 206 141 170 166 122 92
IMF charges .. 3 9 0 0 0 0 0
Short-term external debt .. 13 23 4 3 7 8 2
2. Other non-debt resource inflows
Foreign direct investment .. -24 75 192 174 705 711 750
Portfolio equity .. .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 17.9 17.8 17.5 14.5 12.5
Japanese yen .. 3.1 21.2 21.4 21.3 22.6 26.9 23.9
Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc .. 0.1 0.0 0.5 0.4 0.4 0.3 0.2
U.S.dollars .. 66.5 56.7 52.9 51.9 49.7 48.4 53.2
4. Average terms of new commitments
Official creditors
Interest (%) .. 5.2 6.0 1.9 2.9 2.9 2.4 1.3
Maturity (years) .. 18.1 18.4 25.8 22.2 20.4 24.8 27.6
Grace period (years) .. 5.1 4.4 7.3 6.7 5.8 6.0 7.2
Private creditors
Interest (%) .. 7.1 7.3 0.0 4.3 4.7 4.8 0.0
Maturity (years) .. 9.1 6.4 0.0 6.6 5.4 6.1 0.0
Grace period (years) .. 2.5 1.4 0.0 1.1 0.9 1.6 0.0
5. Major economic aggregates
Gross national income (GNI) .. 13,324 13,541 14,283 17,072 22,373 27,953 32,909
Exports of goods, services & income .. .. .. .. .. .. .. ..
Worker remit. & comp. of employees .. .. .. .. .. .. .. ..
Imports of goods, services & income .. .. .. .. .. 6,736 8,812 ..
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. .. .. .. .. .. ..
International reserves .. .. .. .. .. .. .. ..
6. Ratios
External debt stocks to exports (%) .. .. .. .. .. .. .. ..
External debt stocks to GNI (%) .. 13.5 34.2 30.0 23.6 17.5 14.2 12.5
Debt service to exports (%) .. .. .. .. .. .. .. ..
Short-term to external debt stocks (%) .. 11.8 6.1 2.6 3.9 5.0 5.3 3.5
Multilateral to external debt stocks (%) .. 13.7 9.8 18.5 20.5 22.1 23.1 25.9
Reserves to external debt stocks (%) .. .. .. .. .. .. .. ..
Reserves to imports (months) .. .. .. .. .. .. .. ..
298
UZBEKISTAN
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled .. 0 0 0 0 0 0 0
Total amount forgiven .. 0 0 0 0 0 0 0
Debt buyback .. 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 305 250 248 242 257 231 189 175
Interest 69 65 61 56 51 45 41 38
Private creditors
Principal 355 201 167 125 89 48 35 23
Interest 34 25 17 11 7 5 3 1
Notes:
Data on long-term private nonguaranteed debt for 2009 are World Bank staff estimates.
299
VANUATU
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 38.2 48.9 74.5 82.1 83.1 98.2 125.8 129.8
Long-term external debt 28.6 43.9 73.1 71.9 72.0 78.1 89.7 98.8
Public and publicly guaranteed 28.6 43.9 73.1 71.9 72.0 78.1 89.7 98.8
Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 9.6 5.0 1.4 10.2 11.1 20.1 36.1 31.0
interest arrears on long-term 0.0 0.0 0.0 0.2 0.1 0.1 0.1 0.0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0.0 0.0 0.0 0.8 0.5 0.6 0.6 0.0
/RQJWHUPSXEOLFVHFWRUGHEW 28.6 43.9 73.1 71.9 72.0 78.1 89.7 98.8
/RQJWHUPSULYDWHVHFWRUGHEW 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 0.0 1.8 4.6 0.0 0.0 8.0 28.8 0.0
External debt flows
Disbursements 6.5 3.2 14.2 0.0 0.0 3.9 10.1 11.7
Long-term external debt 6.5 3.2 14.2 0.0 0.0 3.9 10.1 11.7
IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Principal repayments 1.0 0.8 0.9 1.1 2.2 2.1 2.5 3.5
Long-term external debt 1.0 0.8 0.9 1.1 2.2 2.1 2.5 3.5
IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net flows 5.7 2.4 13.6 -28.1 -1.2 10.8 23.6 3.1
Long-term external debt 5.6 2.4 13.4 -1.1 -2.2 1.8 7.6 8.1
Short-term external debt 0.1 0.0 0.3 -27.0 1.0 9.0 16.0 -5.0
Interest payments 1.5 0.8 1.0 1.5 1.4 1.7 2.0 2.1
Long-term external debt 0.7 0.5 0.6 0.7 1.0 0.9 1.1 1.4
IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Short-term external debt 0.7 0.3 0.3 0.8 0.5 0.8 0.8 0.7
2. Other non-debt resource inflows
Foreign direct investment 13.1 31.0 20.3 13.3 43.4 34.2 31.5 27.4
Portfolio equity 0.0 0.0 .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 13.6 13.4 12.5 9.2 7.1
Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pound sterling 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 22.4 43.3 56.8 54.0 54.1 51.3 47.1 41.6
4. Average terms of new commitments
Official creditors
Interest (%) 0.0 0.0 2.0 0.0 0.0 0.0 2.0 0.0
Maturity (years) 0.0 23.0 14.5 0.0 0.0 20.0 20.0 0.0
Grace period (years) 0.0 16.1 3.5 0.0 0.0 5.0 5.3 0.0
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 162.6 216.8 267.8 380.4 428.3 516.9 613.2 628.2
Exports of goods, services & income 105.8 123.0 175.7 204.6 215.3 255.7 .. ..
Worker remit. & comp. of employees 8.2 13.5 34.7 5.1 5.0 5.5 7.0 6.9
Imports of goods, services & income 136.5 164.5 178.8 258.6 270.7 313.2 343.1 311.4
Profit remittances on FDI 15.2 35.6 21.9 35.3 34.2 45.6 .. ..
Current account balance -6.2 -18.2 5.0 -34.0 -30.1 -34.4 .. ..
International reserves 37.7 48.3 38.9 67.2 104.7 119.6 115.2 148.6
6. Ratios
External debt stocks to exports (%) 36.1 39.8 42.4 40.1 38.6 38.4 .. ..
External debt stocks to GNI (%) 23.5 22.6 27.8 21.6 19.4 19.0 20.5 20.7
Debt service to exports (%) 2.3 1.3 1.1 1.3 1.7 1.5 .. ..
Short-term to external debt stocks (%) 25.1 10.2 1.9 12.4 13.4 20.5 28.7 23.9
Multilateral to external debt stocks (%) 41.6 63.7 86.1 82.1 81.1 70.5 56.4 52.8
Reserves to external debt stocks (%) 98.6 98.7 52.3 81.9 125.9 121.8 91.6 114.5
Reserves to imports (months) 3.3 3.5 2.6 3.1 4.6 4.6 4.0 5.7
300
VANUATU
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 3.6 3.6 4.3 5.3 6.2 5.6 5.6 5.6
Interest 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3
Private creditors
Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
301
VENEZUELA, REPUBLICA BOLIVARIANA de
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 33,171 35,744 42,338 44,888 43,747 45,850 50,179 54,503
Long-term external debt 28,159 30,442 33,950 34,780 31,899 30,497 33,185 38,494
Public and publicly guaranteed 24,509 28,428 27,817 31,078 27,165 27,537 29,875 35,184
Private nonguaranteed 3,650 2,013 6,132 3,702 4,734 2,960 3,310 3,310
Use of IMF credit 3,012 2,239 203 0 0 0 0 0
Short-term external debt 2,000 3,063 8,186 10,108 11,848 15,353 16,994 16,009
interest arrears on long-term 0 273 59 5 2 0 0 9
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 1,022 79 8 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 24,509 27,854 27,368 31,026 27,121 27,520 29,865 35,178
/RQJWHUPSULYDWHVHFWRUGHEW 3,650 2,588 6,581 3,754 4,778 2,977 3,320 3,316
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 3,209 1,033 1,683 6,717 1,220 1,854 4,354 7,692
External debt flows
Disbursements 4,069 1,829 2,342 7,246 1,751 2,053 5,490 6,068
Long-term external debt 2,226 1,829 2,342 7,246 1,751 2,053 5,490 6,068
IMF purchases 1,843 0 0 0 0 0 0 0
Principal repayments 1,749 2,739 3,428 2,804 6,513 2,285 2,748 811
Long-term external debt 1,749 2,278 2,921 2,804 6,513 2,285 2,748 811
IMF repurchases 0 462 507 0 0 0 0 0
Net flows 2,036 -1,558 1,614 6,714 -3,019 3,275 4,384 4,262
Long-term external debt 477 -448 -579 4,443 -4,762 -232 2,743 5,256
Short-term external debt -284 -648 2,700 2,271 1,743 3,507 1,641 -994
Interest payments 3,242 2,433 2,931 2,931 3,336 3,460 3,270 3,153
Long-term external debt 2,993 2,097 2,435 2,656 2,850 2,584 2,858 2,765
IMF charges 37 142 28 0 0 0 0 0
Short-term external debt 212 193 467 275 486 876 412 388
2. Other non-debt resource inflows
Foreign direct investment 451 985 4,701 2,602 -508 1,008 350 -3,105
Portfolio equity 0 270 -574 28 41 66 3 121
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 11.5 14.1 14.8 8.2 6.7
Japanese yen 0.6 4.2 1.9 0.5 0.7 1.0 1.0 0.8
Pound sterling 1.5 1.2 0.8 0.0 0.0 0.0 0.0 0.0
Swiss franc 0.9 0.7 0.4 0.0 0.1 0.1 0.1 0.0
U.S.dollars 78.2 68.9 83.3 83.6 80.8 81.5 88.7 91.0
4. Average terms of new commitments
Official creditors
Interest (%) 7.8 6.8 8.0 6.2 5.6 5.7 3.2 2.9
Maturity (years) 15.6 17.2 12.7 10.4 18.0 20.0 18.0 16.6
Grace period (years) 4.9 5.2 2.6 2.7 7.8 10.5 5.5 5.3
Private creditors
Interest (%) 8.5 7.7 8.2 6.6 5.7 7.0 9.2 8.1
Maturity (years) 13.6 3.3 6.9 13.8 11.7 30.2 17.5 12.5
Grace period (years) 6.1 3.0 2.5 13.7 5.2 30.2 17.5 12.5
5. Major economic aggregates
Gross national income (GNI) 46,254 72,946 115,760 143,475 182,638 229,258 312,177 327,229
Exports of goods, services & income 21,464 22,620 37,760 61,134 75,348 80,971 105,363 61,913
Worker remit. & comp. of employees 1 2 17 148 165 151 137 131
Imports of goods, services & income 12,883 20,715 25,737 35,955 48,808 62,477 67,363 53,029
Profit remittances on FDI 224 431 1,424 3,953 6,540 4,785 4,152 1,903
Current account balance 8,279 2,014 11,853 25,110 26,462 18,063 37,392 8,561
International reserves 12,733 10,715 15,899 29,803 36,715 33,759 43,065 34,318
6. Ratios
External debt stocks to exports (%) 154.5 158.0 112.1 73.4 58.1 56.6 47.6 88.0
External debt stocks to GNI (%) 71.7 49.0 36.6 31.3 24.0 20.0 16.1 16.7
Debt service to exports (%) 23.3 22.9 16.8 9.4 13.1 7.1 5.7 6.4
Short-term to external debt stocks (%) 6.0 8.6 19.3 22.5 27.1 33.5 33.9 29.4
Multilateral to external debt stocks (%) 4.9 9.3 7.6 6.2 6.9 5.4 5.4 5.7
Reserves to external debt stocks (%) 38.4 30.0 37.6 66.4 83.9 73.6 85.8 63.0
Reserves to imports (months) 11.9 6.2 7.4 9.9 9.0 6.5 7.7 7.8
302
VENEZUELA, REPUBLICA BOLIVARIANA de
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 17,659 0 0 0 0 0 0 0
Total amount forgiven 1,727 0 0 0 0 1 2 1
Debt buyback 634 0 0 419 4,292 175 4 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 509 518 605 590 501 386 476 424
Interest 131 134 129 120 110 102 95 84
Private creditors
Principal 2,682 1,913 703 1,665 1,858 1,394 2,035 28
Interest 2,764 2,559 2,487 2,433 2,259 2,052 1,932 1,871
Notes:
Long-term private nonguaranteed debt data only cover Bonds. Short-term debt is based on the Central Bank data from 1999 to 2008 and is World Bank staff
estimates for 2009.
303
VIETNAM
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 23,270 25,428 12,823 19,035 18,610 22,737 24,964 28,674
Long-term external debt 21,378 21,778 11,584 16,257 16,003 17,943 20,564 23,403
Public and publicly guaranteed 21,378 21,778 11,584 16,257 16,003 17,943 20,564 23,403
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 112 377 316 203 181 164 121 84
Short-term external debt 1,780 3,272 923 2,574 2,427 4,630 4,279 5,186
interest arrears on long-term 1,530 2,501 78 74 0 0 1 0
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 2,011 8,915 1,378 1,346 0 0 0 0
/RQJWHUPSXEOLFVHFWRUGHEW 21,378 21,778 11,584 16,257 16,003 17,943 20,564 23,403
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 11 2,466 1,191 2,660 2,297 2,080 3,670 5,675
External debt flows
Disbursements 13 730 1,272 2,047 1,228 1,945 1,880 3,791
Long-term external debt 13 639 1,272 2,047 1,228 1,945 1,880 3,791
IMF purchases 0 92 0 0 0 0 0 0
Principal repayments 104 225 958 543 519 646 771 704
Long-term external debt 99 225 937 489 486 621 732 666
IMF repurchases 5 0 21 54 33 25 39 38
Net flows -95 823 472 1,917 636 3,502 757 3,995
Long-term external debt -86 414 335 1,557 742 1,324 1,148 3,125
Short-term external debt -4 317 158 413 -73 2,203 -352 908
Interest payments 70 139 352 434 452 608 567 436
Long-term external debt 46 81 298 318 328 413 432 374
IMF charges 0 11 3 1 1 1 1 1
Short-term external debt 23 46 51 115 123 194 134 61
2. Other non-debt resource inflows
Foreign direct investment 180 1,780 1,298 1,954 2,400 6,700 9,579 7,600
Portfolio equity .. .. .. 115 1,313 6,243 -578 128
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 5.7 6.7 7.0 5.9 5.5
Japanese yen 2.0 5.6 23.5 26.2 29.1 30.8 37.2 35.7
Pound sterling 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Swiss franc 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0
U.S.dollars 5.5 8.4 43.3 44.9 42.5 40.8 37.0 38.9
4. Average terms of new commitments
Official creditors
Interest (%) 5.7 2.3 1.4 1.3 1.9 0.9 1.9 1.2
Maturity (years) 9.6 31.5 36.1 33.6 33.2 36.6 32.7 29.7
Grace period (years) 4.2 9.5 9.6 9.1 8.7 10.1 9.0 8.0
Private creditors
Interest (%) 0.0 6.7 0.0 6.9 4.2 0.0 0.0 0.3
Maturity (years) 0.0 7.2 0.0 10.2 21.1 0.0 0.0 14.9
Grace period (years) 0.0 2.0 0.0 10.1 6.6 0.0 0.0 4.9
5. Major economic aggregates
Gross national income (GNI) 6,060 20,510 30,726 51,859 59,598 68,885 87,654 88,640
Exports of goods, services & income .. .. 17,481 36,987 45,594 55,757 71,138 63,614
Worker remit. & comp. of employees .. .. .. 4,000 4,800 5,500 7,200 6,840
Imports of goods, services & income .. .. 18,107 40,927 49,807 69,140 89,155 77,581
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance .. .. 1,106 -560 -164 -6,953 -10,706 ..
International reserves .. 1,324 3,417 9,051 13,384 23,479 23,890 16,447
6. Ratios
External debt stocks to exports (%) .. .. 73.4 51.5 40.8 40.8 35.1 45.1
External debt stocks to GNI (%) 384.0 124.0 41.7 36.7 31.2 33.0 28.5 32.3
Debt service to exports (%) .. .. 7.5 2.6 2.1 2.2 1.9 1.8
Short-term to external debt stocks (%) 7.7 12.9 7.2 13.5 13.0 20.4 17.1 18.1
Multilateral to external debt stocks (%) 0.6 1.3 14.8 27.0 31.5 31.3 32.0 36.0
Reserves to external debt stocks (%) .. 5.2 26.6 47.5 71.9 103.3 95.7 57.4
Reserves to imports (months) .. .. 2.3 2.7 3.2 4.1 3.2 2.5
304
VIETNAM
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 410 89 0 201 0 0 0 0
Total amount forgiven 0 32 10,395 3 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 819 805 844 1,191 1,277 1,147 1,219 1,193
Interest 378 398 404 400 387 366 349 333
Private creditors
Principal 122 101 109 105 95 102 835 73
Interest 83 80 77 74 71 68 40 12
Notes:
Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates based on reports provided by the country. As per country's
information, arrears have been removed from 2006.
305
YEMEN, REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 6,354 6,251 5,125 5,439 5,644 6,089 6,258 6,356
Long-term external debt 5,162 5,562 4,109 4,794 5,080 5,507 5,679 5,861
Public and publicly guaranteed 5,162 5,562 4,109 4,794 5,080 5,507 5,679 5,861
Private nonguaranteed 0 0 0 0 0 0 0 0
Use of IMF credit 0 0 317 292 246 169 95 53
Short-term external debt 1,192 689 699 353 318 413 483 442
interest arrears on long-term 192 473 27 94 100 107 112 117
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 845 2,408 297 193 143 151 160 165
/RQJWHUPSXEOLFVHFWRUGHEW 5,162 5,562 4,109 4,794 5,080 5,507 5,679 5,861
/RQJWHUPSULYDWHVHFWRUGHEW 0 0 0 0 0 0 0 0
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 201 80 302 207 328 498 196 147
External debt flows
Disbursements 305 124 137 265 353 390 285 332
Long-term external debt 305 124 137 265 353 390 285 332
IMF purchases 0 0 0 0 0 0 0 0
Principal repayments 81 65 153 149 160 198 204 182
Long-term external debt 79 65 81 93 100 112 133 139
IMF repurchases 1 0 71 56 60 87 71 44
Net flows 386 42 270 178 152 280 146 103
Long-term external debt 226 59 56 172 253 278 152 193
Short-term external debt 161 -17 285 61 -41 88 65 -46
Interest payments 88 37 91 62 74 72 79 79
Long-term external debt 28 25 45 55 67 65 70 72
IMF charges 0 0 10 3 3 2 1 0
Short-term external debt 60 11 35 4 4 5 7 6
2. Other non-debt resource inflows
Foreign direct investment -131 -218 6 -302 1,121 917 1,555 129
Portfolio equity .. .. 0 .. 0 0 0 ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 1.7 1.8 1.9 1.8 1.9
Japanese yen 4.4 6.1 7.7 6.5 5.9 5.5 6.2 5.8
Pound sterling 0.7 0.6 0.3 0.1 0.0 0.0 0.0 0.0
Swiss franc 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 20.2 21.6 68.2 67.2 65.1 61.7 59.4 58.7
4. Average terms of new commitments
Official creditors
Interest (%) 1.8 5.1 0.9 2.4 1.9 2.8 1.8 2.2
Maturity (years) 28.6 12.5 36.4 30.0 28.4 23.7 32.5 26.1
Grace period (years) 7.2 3.3 9.6 8.3 7.8 6.2 7.8 6.3
Private creditors
Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 4,792 3,678 8,834 15,125 17,847 20,306 24,779 24,894
Exports of goods, services & income 1,528 2,197 4,158 6,963 8,181 8,158 10,504 ..
Worker remit. & comp. of employees 1,498 1,081 1,288 1,283 1,283 1,322 1,411 1,403
Imports of goods, services & income 2,579 3,069 4,221 7,745 9,332 11,092 13,918 11,287
Profit remittances on FDI 283 433 855 1,603 1,403 1,390 1,875 ..
Current account balance 739 184 1,337 624 206 -1,508 -1,251 ..
International reserves 441 638 2,914 6,141 7,543 7,757 8,155 6,990
6. Ratios
External debt stocks to exports (%) 415.9 284.5 123.3 78.1 69.0 74.6 59.6 ..
External debt stocks to GNI (%) 132.6 169.9 58.0 36.0 31.6 30.0 25.3 25.5
Debt service to exports (%) 11.1 4.6 5.9 3.0 2.9 3.3 2.7 ..
Short-term to external debt stocks (%) 18.8 11.0 13.6 6.5 5.6 6.8 7.7 7.0
Multilateral to external debt stocks (%) 16.1 20.5 32.7 40.8 44.4 47.6 48.5 49.7
Reserves to external debt stocks (%) 6.9 10.2 56.9 112.9 133.7 127.4 130.3 110.0
Reserves to imports (months) 2.1 2.5 8.3 9.5 9.7 8.4 7.0 7.4
306
YEMEN, REPUBLIC OF
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 98 0 123 65 0 0 0 0
Total amount forgiven 0 0 9 116 123 8 20 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 217 231 244 265 283 283 289 287
Interest 86 90 90 88 85 81 76 71
Private creditors
Principal 1 1 1 1 1 0 0 0
Interest 0 0 0 0 0 0 0 0
307
ZAMBIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 6,905 6,958 5,722 5,377 2,278 2,758 2,984 3,049
Long-term external debt 4,543 5,304 4,508 4,541 1,794 2,097 2,215 2,230
Public and publicly guaranteed 4,541 5,291 4,444 3,945 967 1,116 1,167 1,210
Private nonguaranteed 2 13 65 596 826 981 1,049 1,020
Use of IMF credit 949 1,239 1,138 591 41 87 96 345
Short-term external debt 1,413 415 76 244 443 575 674 474
interest arrears on long-term 738 177 33 90 140 149 152 154
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 1,493 772 137 340 315 317 322 323
/RQJWHUPSXEOLFVHFWRUGHEW 4,541 5,259 4,413 3,942 967 1,116 1,167 1,210
/RQJWHUPSULYDWHVHFWRUGHEW 2 45 95 599 827 981 1,049 1,020
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 202 382 330 58 139 144 133 175
External debt flows
Disbursements 164 2,606 287 236 447 359 251 371
Long-term external debt 164 352 261 220 423 316 240 127
IMF purchases 0 2,253 26 16 24 42 11 244
Principal repayments 124 2,067 98 215 87 75 114 124
Long-term external debt 100 242 98 136 87 75 114 124
IMF repurchases 25 1,825 0 79 0 0 0 0
Net flows -125 435 159 86 509 406 234 45
Long-term external debt 65 110 163 84 335 241 126 4
Short-term external debt -165 -104 -30 65 149 123 96 -202
Interest payments 76 545 88 66 53 46 52 48
Long-term external debt 72 125 80 58 44 32 39 37
IMF charges 2 419 6 4 0 0 0 1
Short-term external debt 3 1 3 5 9 13 13 10
2. Other non-debt resource inflows
Foreign direct investment 203 97 122 357 616 1,324 939 699
Portfolio equity 0 .. 6 5 2 4 -6 -13
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 6.0 20.8 18.7 15.4 14.0
Japanese yen 10.0 11.2 13.9 1.2 0.0 0.0 0.0 0.0
Pound sterling 8.5 7.7 3.9 5.1 0.7 0.5 0.3 0.3
Swiss franc 0.5 0.1 0.0 0.0 0.0 0.0 0.0 0.0
U.S.dollars 28.1 39.6 61.7 72.8 39.2 41.0 39.1 37.5
4. Average terms of new commitments
Official creditors
Interest (%) 6.5 1.5 0.8 0.8 0.8 1.3 0.8 0.6
Maturity (years) 20.7 37.3 39.6 35.8 37.3 31.5 46.3 34.1
Grace period (years) 6.6 10.3 10.1 8.2 9.9 7.7 10.3 9.1
Private creditors
Interest (%) 11.0 10.5 0.0 0.0 2.0 0.0 3.0 0.0
Maturity (years) 6.9 9.2 0.0 0.0 15.2 0.0 3.9 0.0
Grace period (years) 1.4 2.9 0.0 0.0 4.7 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 3,008 3,235 3,082 6,761 9,534 9,997 13,306 11,384
Exports of goods, services & income 1,362 .. 891 2,533 4,175 4,818 5,283 4,565
Worker remit. & comp. of employees .. .. .. 53 58 59 68 68
Imports of goods, services & income 2,336 .. 1,496 3,239 4,411 6,047 6,894 5,487
Profit remittances on FDI 115 .. 0 461 1,107 1,474 1,346 1,294
Current account balance -594 .. -591 -600 126 -698 -1,046 ..
International reserves 201 223 245 560 720 1,090 1,096 1,892
6. Ratios
External debt stocks to exports (%) 507.0 .. 642.0 212.3 54.6 57.2 56.5 66.8
External debt stocks to GNI (%) 229.5 215.1 185.7 79.5 23.9 27.6 22.4 26.8
Debt service to exports (%) 14.7 .. 20.8 11.1 3.4 2.5 3.1 3.8
Short-term to external debt stocks (%) 20.5 6.0 1.3 4.5 19.4 20.8 22.6 15.6
Multilateral to external debt stocks (%) 20.1 30.5 42.0 58.2 30.0 27.9 27.7 28.9
Reserves to external debt stocks (%) 2.9 3.2 4.3 10.4 31.6 39.5 36.7 62.1
Reserves to imports (months) 1.0 .. 2.0 2.1 2.0 2.2 1.9 4.1
308
ZAMBIA
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 690 20 169 58 9 51 0 0
Total amount forgiven 162 3 56 1,643 3,592 12 12 3
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 56 49 49 43 48 51 51 47
Interest 12 12 11 11 10 10 10 9
Private creditors
Principal 214 157 139 84 68 52 45 37
Interest 46 35 24 18 13 9 6 3
Notes:
Zambia was granted debt relief effective in 2006 under MDRI. Data on long-term public and publicly guaranteed debt from 2007 are World Bank staff estimates
based on reports provided by the country. Data on long-term private nonguaranteed debt for 2009 are World Bank staff estimates.
309
ZIMBABWE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
1. Summary external debt data
External debt stocks 3,279 4,989 3,827 4,230 4,636 5,365 5,266 5,015
Long-term external debt 2,681 3,843 2,979 3,227 3,413 3,788 3,750 3,831
Public and publicly guaranteed 2,496 3,462 2,774 3,195 3,387 3,713 3,661 3,742
Private nonguaranteed 185 381 205 32 26 75 89 89
Use of IMF credit 7 461 281 111 113 118 114 116
Short-term external debt 591 685 568 893 1,111 1,459 1,402 1,068
interest arrears on long-term 0 3 55 536 622 756 811 921
Memorandum items
3ULQFLSDODUUHDUVRQORQJWHUP 0 21 167 1,523 1,791 2,100 2,201 2,439
/RQJWHUPSXEOLFVHFWRUGHEW 2,495 3,462 2,767 3,187 3,387 3,713 3,661 3,742
/RQJWHUPSULYDWHVHFWRUGHEW 186 381 212 39 26 75 89 89
3XEOLF SXEOLFO\JXDUDQWHHGFRPPLWPHQWV 468 218 50 11 201 0 0 0
External debt flows
Disbursements 424 654 185 25 45 227 94 79
Long-term external debt 424 574 185 25 45 227 94 79
IMF purchases 0 80 0 0 0 0 0 0
Principal repayments 270 398 282 210 38 55 57 66
Long-term external debt 247 398 212 45 35 55 55 66
IMF repurchases 24 0 70 165 3 0 2 0
Net flows 335 442 -330 -224 138 386 -75 -431
Long-term external debt 177 176 -27 -20 10 173 39 13
Short-term external debt 181 187 -233 -40 132 214 -112 -444
Interest payments 201 238 138 27 54 41 26 35
Long-term external debt 149 189 81 7 4 14 10 30
IMF charges 2 13 10 0 23 0 0 0
Short-term external debt 49 35 48 19 27 27 16 5
2. Other non-debt resource inflows
Foreign direct investment -12 118 23 103 40 69 52 60
Portfolio equity 0 .. .. .. .. .. .. ..
3. Currency composition of public and publicly guaranteed debt (%)
Euro .. .. .. 32.0 33.6 34.2 32.7 33.4
Japanese yen 2.1 3.6 5.4 5.3 5.0 4.7 6.0 5.8
Pound sterling 13.8 6.7 5.5 5.9 6.3 5.9 4.4 4.8
Swiss franc 0.9 0.9 0.4 0.4 0.4 0.4 0.5 0.5
U.S.dollars 29.9 26.2 29.9 28.6 27.7 29.3 30.3 29.9
4. Average terms of new commitments
Official creditors
Interest (%) 6.4 3.0 4.8 3.0 6.1 0.0 0.0 0.0
Maturity (years) 23.1 23.3 12.9 15.0 4.1 0.0 0.0 0.0
Grace period (years) 4.7 6.8 3.6 4.5 0.5 0.0 0.0 0.0
Private creditors
Interest (%) 7.2 6.1 13.9 6.5 0.0 0.0 0.0 0.0
Maturity (years) 10.5 8.8 9.8 5.5 0.0 0.0 0.0 0.0
Grace period (years) 1.5 1.6 4.1 0.9 0.0 0.0 0.0 0.0
5. Major economic aggregates
Gross national income (GNI) 8,494 6,789 7,145 3,220 .. .. .. ..
Exports of goods, services & income 2,035 .. .. .. .. .. .. ..
Worker remit. & comp. of employees 1 .. .. .. .. .. .. ..
Imports of goods, services & income 2,287 .. .. .. .. .. .. ..
Profit remittances on FDI .. .. .. .. .. .. .. ..
Current account balance -140 .. .. .. .. .. .. ..
International reserves 295 888 321 .. .. .. .. ..
6. Ratios
External debt stocks to exports (%) 161.1 .. .. .. .. .. .. ..
External debt stocks to GNI (%) 38.6 73.5 53.6 131.4 .. .. .. ..
Debt service to exports (%) 23.1 .. .. .. .. .. .. ..
Short-term to external debt stocks (%) 18.0 13.7 14.8 21.1 24.0 27.2 26.6 21.3
Multilateral to external debt stocks (%) 19.4 29.9 35.3 35.1 33.4 30.0 30.5 32.3
Reserves to external debt stocks (%) 9.0 17.8 8.4 .. .. .. .. ..
Reserves to imports (months) 1.5 .. .. .. .. .. .. ..
310
ZIMBABWE
86PLOOLRQXQOHVVRWKHUZLVHLQGLFDWHG
9. Debt restructurings
Total amount rescheduled 0 0 0 0 0 0 0 0
Total amount forgiven 0 0 0 0 0 0 0 0
Debt buyback 0 0 0 0 0 0 0 0
10. Contractual obligations on outstanding long-term external debt
Official creditors
Principal 551 259 139 107 80 64 60 59
Interest 59 32 20 16 13 11 10 9
Private creditors
Principal 17 10 10 10 10 9 0 0
Interest 3 2 2 1 1 0 0 0
311
.
313
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Nevertheless, quality and coverage vary among undisbursed debt) may not equal commitments
debtors and may also vary for the same debtor less repayments. Discrepancies will be particu-
from year to year. Data on long-term external larly significant when exchange rates have moved
debt reported by member countries are checked sharply during the year. Projected debt service is
against, and supplemented by, data from several converted to U.S. dollars at rates in effect at the
other sources. Among these sources are the state- end of December 2009.
ments and reports of several regional development Beginning with 1991, all ruble debt owed to
banks, government lending agencies, and official the former Soviet Union has been converted at a
government Web sites. rate of US$1 = 0.6 ruble, except in cases where a
bilateral agreement specifying a different conver-
sion rate is in place. Adoption of this methodology
does not constitute an endorsement by the World
Methodology Bank staff of the appropriateness or validity of the
exchange rate used. This matter must be resolved
Aggregations bilaterally between the Russian Federation and its
Total debt stock and other aggregate measures are debtor countries.
derived from the summation of loan-level data on Starting with the 1988–89 edition of World
stocks and flows after conversion to a common Debt Tables (the predecessor of GDF), all data
currency. Other tabulations are compiled using pertaining to IBRD loans from 1985 onward are
terms and conditions reported in the loan-level recorded at their current market value. Starting
data, such as currency composition, cancellations, with the 1991–92 edition, all data pertaining to
rescheduling of other liabilities into long-term Asian Development Bank loans from 1989 on-
public and publicly guaranteed external debt, and ward are recorded at their current market value.
debt buybacks. Starting with the 1998 edition, all data pertain-
Aggregates for regional and income groups ing to African Development Bank and African
are based on the World Bank’s operational clas- Development Fund loans from 1997 onward are
sifications, which may differ from common geo- recorded at their current market value.
graphic usage or income groups used by other
organizations. Country classifications of DRS- Debt Stock and Flow Reconciliation
reporting countries in 2009 are shown in country Because of currency conversions and the timing of
groups in the back of the publication. The same transactions, there may be differences between the
classification is used for all historical data shown change in aggregate stocks from one period to the
in Global Development Finance and the online next and flows during the relevant period; changes
database. in debt outstanding, including undisbursed
amounts, will therefore differ from commitments
Currency Conversion less repayments.
Data on external obligations are normally re- Changes in the stock of debt from one period
ported to the World Bank in the currency of repay- to the next can be attributed to five factors: the
ment and are converted into a common currency net flow of debt, the net change in interest ar-
(U.S. dollars) using official exchange rates pub- rears, the capitalization of interest, a reduction in
lished by the IMF. debt resulting from debt forgiveness or other debt
Commitments, disbursements, and debt ser- reduction mechanisms, and cross-currency valua-
vice payments (flows) are converted to U.S. dollars tion effects. Any residual difference in the change
at the annual average exchange rate for the year. in stock not explained by one of those five factors
Debt outstanding (disbursed and undisbursed) at may indicate inconsistencies in the reported data
the end of a given year (stock) is converted at the or specific phenomena prevailing in an individual
exchange rate in effect at the end of the relevant country (for example, an incomplete historical
year. Consequently, year-to-year changes in debt series for all categories of debt). Starting in 1989,
outstanding and disbursed may not be equal to net the GDF includes a debt stock reconciliation, but
flows (disbursements less principal repayments); not all components are shown in the GDF print
similarly, changes in debt outstanding (including edition.
314
A B O U T T H E D A T A
315
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
outstanding balance of the loan at the beginning of External Debt and Its Components
T
the period. Using the interest rate specified in the his section describes the compilation of the
loan contract, the first and final interest payment major components of external debt included
dates, and the frequency of payments, the WBXD in the GDF tables and database and the relation-
system calculates the stream of future interest pay- ship between them, as shown in figure 1. Informa-
ments due. If interest payments are irregular, the tion about general methods of compiling external
WBXD system requires a schedule. debt data is discussed in the section titled “Meth-
Future debt service payments are the sum odology.” For concise definitions, see the Glossary.
of future principal and interest payments due on
existing commitments, including the undisbursed Total External Debt
portion. They do not include debt service pay- Total external debt shown in the GDF is the sum
ments that may become due as a result of new of long-term external debt, short-term debt, and
loans contracted in subsequent years, nor do IMF credit. It represents the total debt owed to
they take into account the effect of any change to nonresident creditors and repayable in foreign
future debt service obligations resulting from ac- currencies or in goods or services by public and
tions such as prepayment or rescheduling or from private entities in the country. (Debt repayable in
cancellations that occurred after the most recent domestic currency is not included.)
year-end data reported to the DRS.
Both projected disbursements and future debt Short-Term Debt
service payments are converted into U.S. dol- Short-term debt is defined as external debt with
lars using end-December 2009 exchange rates. an original maturity of one year or less. The DRS
Likewise, future interest payments on loans with requires debtor countries to report only on their
a variable interest rate (for example, loans from long-term external debt. However, to gain a com-
commercial banks tied to the London Interbank prehensive picture of total external obligations,
Offered Rate [LIBOR]) are based on the interest the World Bank encourages debtor countries to
rate prevailing at end-December 2009. provide voluntarily information on their short-
term external obligations.
Treatment of Arrears By its nature, short-term external debt is dif-
The DRS collects information on arrears of both ficult to monitor: loan-by-loan registration is nor-
principal and interest. Principal in arrears is in- mally impractical, and monitoring systems typically
cluded in the amount of long-term external debt rely on information requested periodically by the
outstanding and is shown separately. Interest in ar- central bank from the banking sector. The World
rears on long-term external debt and interest in ar- Bank regards the debtor country as the authorita-
rears on the use of IMF credit are included as part tive source of information on its short-term debt.
of short-term external debt outstanding and are When such information is not made available
shown separately. Clearance of interest in arrears from the debtor country, data from creditor
by repayment will be recorded as an interest pay- sources may be used to get an indication of the
ment in the relevant creditor category of the loan magnitude of a country’s short-term external debt.
(or loans) on which the arrears were incurred, as a The most important source is the BIS quarterly
corresponding reduction in the level of short-term series showing the maturity distribution of com-
debt outstanding, and as a net reduction in interest mercial banks’ claims on developing countries.
arrears. Clearance of interest arrears through debt These data are reported on the basis of residual
restructuring or forgiveness will be recorded as a maturity, but an estimate of short-term external
reduction in the level of short-term debt outstand- liabilities by original maturity can be derived by
ing and a net reduction in interest arrears. When deducting from claims due in one year those that,
interests are rescheduled, they will be capitalized: 12 months earlier, had a maturity of between one
this change will be recorded as an increase in and two years. However, not all commercial banks
long-term debt outstanding equal to the amount of report to the BIS in a way that allows the full ma-
interest capitalized and the reduction in short-term turity distribution to be determined, and the BIS
debt outstanding noted previously. data include liabilities only to banks within the BIS
316
A B O U T T H E D A T A
Total external
debt (EDT)
by debtor
by creditor
Official Private
creditors creditor
Commercial
Multilateral Bilateral Bonds Other
banks
reporting area. Consequently, the results should be debt are derived from the data provided by BIS
interpreted with caution. on international bank lending, which are based
The flow of short-term debt may be derived on time remaining to original maturity. Interest
from the change in claims (stock) data in the BIS in arrears on long-term external debt and interest
quarterly series over consecutive periods, but valu- in arrears on the use of IMF credit are added to
ation adjustments resulting from exchange rate short-term debt and are separately identified.
movements will affect the calculations, as will
prepayment and refinancing of long-term maturi- Use of IMF Credit
ties falling due. When short-term external debt has Data related to the operations of the IMF are pro-
been rescheduled, lags in reporting and differences vided by the IMF Treasurer’s Department. They
in the treatment of the rescheduled external debt are converted from special drawing rights into dol-
by debtors and creditors may result in double lars using end-of-period exchange rates for stocks
counting. and average-over-the-period exchange rates for
The information on short-term debt shown in flows. IMF trust fund operations under the En-
this publication comes primarily from either credi- hanced Structural Adjustment Facility, Extended
tor or government sources. Unless otherwise speci- Fund Facility, Poverty Reduction and Growth
fied in the country tables, the data for short-term Facility, and Structural Adjustment Facility (En-
317
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
hanced Structural Adjustment Facility in 1999) anteed debt is based on the national data on quar-
are presented together with all of the IMF’s special terly external debt statistics or IMF data. Flows are
facilities (buffer stock, supplemental reserve, com- derived from the change in stock over consecutive
pensatory and contingency facilities, oil facilities, periods and are adjusted for the effects of exchange
and other facilities). rate movements (assuming the currency composi-
tion mirrors that of public and publicly guaran-
Long-Term Debt teed debt) and for any known debt restructuring.
Long-term debt has an original maturity of more Principal repayments are estimated on the basis of
than one year. It comprises the obligations of both the average maturity observed for loans to private
public and private debtors. Private nonguaranteed sector borrowers in countries reporting to the DRS
debt comprises the external obligations of private and on the basis of the stock of debt outstanding.
debtors that are not guaranteed for repayment by Interest payments are estimated on the basis of the
a public entity in the debtor country. stock of debt outstanding and interest rates prevail-
Public and publicly guaranteed debt com- ing in international capital markets.
prises the external obligations of public debtors Balance of payments data provide a useful
and has two components: (a) public debt, which is guideline in the estimation process: private non-
borrowing by the national government or agency, guaranteed external debt may be derived as a re-
by a political subdivision or agency, or by autono- sidual between net long-term external borrowing
mous public bodies, and (b) publicly guaranteed recorded in the balance of payments and net long-
debt, which is borrowing by a private agency that term public and publicly guaranteed external debt
is guaranteed for repayment by a public entity. reported to the DRS.
318
A B O U T T H E D A T A
behalf of a single donor government constitute bi- estimates based on country’s balance of payments
lateral loans (or grants). For lending by a number reports: Afghanistan from 2006 to 2009, Algeria
of multilateral creditors, the data presented in this from 2004 to 2008, Bhutan from 2003 to 2009,
publication are taken from the creditors’ records. Bolivia in 2009, Bosnia and Herzegovina in 2009,
Such creditors include the African Development Botswana in 2009, Chad from 2003 to 2009,
Bank, the Asian Development Bank, the IDB, the El Salvador in 2009, Ethiopia in 2009, Gabon
IBRD, and the IDA. (IBRD and IDA are institu- from 2006 to 2009, Kenya in 2009, Kosovo in
tions of the World Bank.) 2009, Lesotho in 2009, Madagascar in 2006 and
Bilateral creditors are governments and their 2009, Malaysia in 2009, Montenegro from 2007
agencies, including central banks, aid agencies, of- to 2009, Niger in 2008 and 2009, Papua New
ficial export credit agencies, and autonomous agen- Guinea from 2006 to 2009, Sudan in 2009, Swa-
cies such as the U.S. Department of Agriculture or ziland in 2009, Tanzania in 2009, Tonga in 2009,
the Federal Home Loan Bank. Member countries of and Tunisia in 2009.
the OECD Development Assistance Committee and Data for imports of goods, services, and in-
some other countries also report information on come for the following countries are World Bank
loans extended bilaterally or officially guaranteed estimates based on country’s balance of payments
to the Creditor Reporting System of the OECD. reports: Afghanistan in 2007 and 2008, Algeria
Private creditors include commercial banks, from 2004 to 2008, Benin in 2008, Bhutan from
bondholders, and other private creditors. This line 2007 to 2009, Bolivia in 2009, Bosnia and Her-
includes only publicly guaranteed creditors. Non- zegovina in 2009, Botswana in 2009, the Central
guaranteed private creditors are shown separately. African Republic in 2007 and 2008, Chad from
Bonds include publicly issued or privately 2003 to 2009, the Comoros in 2007 and 2008,
placed bonds. the Democratic Republic of Congo from 2007 to
Commercial bank loans are loans from pri- 2009, El Salvador in 2009, Eritrea in 2007, Ethi-
vate banks and other private financial institutions. opia in 2009, Gabon from 2006 to 2009, India
Credits of other private creditors include in 2009, Kenya in 2009, Kosovo from 2007 to
credits from manufacturers, exporters, and other 2009, Lesotho in 2009, Madagascar from 2006
suppliers of goods, plus bank credits covered by a to 2009, Malawi in 2007 and 2008, Malaysia
guarantee of an export credit agency. This line is in 2009, Mauritania in 2007 and 2009, Mon-
included in the online database but is not shown in tenegro from 2007 to 2009, Niger in 2008 and
the published tables. It can be obtained as the dif- 2009, Papua New Guinea from 2006 to 2009,
ference between (a) credits of total private credi- Samoa in 2008, Senegal in 2008, Sudan in 2009,
tors and (b) bonds and commercial bank loans. Swaziland in 2008 and 2009, Tanzania in 2009,
Tonga in 2009, Tunisia in 2009, Turkmenistan in
2007 and 2008, Uzbekistan in 2007 and 2008,
Vanuatu in 2008 and in 2009, and the Republic
Countries with Estimated Data of Yemen in 2009.
319
.
Country Groups
Regional Groups
East Asia and Pacific Serbiaa,b(A) Middle East and North Africa Congo, Dem. Rep. (E)
Tajikistan (A) Congo, Rep. (P)
Cambodia (A) Turkey (A) Algeria (A) Côte d’Ivoire (A)
China (P) Turkmenistan (E) Djibouti (A) Eritrea (A)
Fiji (A) Ukraine (A) Egypt, Arab Rep. (A) Ethiopia (A)
Indonesia (A) Uzbekistan (A) Iran, Islamic Rep (A) Gabon (P)
Lao PDR (P) Jordan (A) Gambia, The (E)
Malaysia (E) Latin America and the Caribbean Lebanon (A) Ghana (A)
Mongolia (A) Morocco (A) Guinea (E)
Myanmar (E) Argentina (A) Syrian Arab Republic (A) Guinea-Bissau (E)
Papua New Guinea (A) Belize (A) Tunisia (A) Kenya (A)
Philippines (A) Bolivia (A) Yemen, Rep. (A) Lesotho (A)
Samoa (A) Brazil (A) Liberia (E)
Solomon Islands (A) Chile (A) South Asia Madagascar (A)
Thailand (A) Colombia (A) Malawi (A)
Tonga (A) Costa Rica (A) Afghanistan (A) Mali (P)
Vanuatu (A) Dominica (A) Bangladesh (A) Mauritania (A)
Vietnam (P) Dominican Republic (A) Bhutan (A) Mauritius (P)
Ecuador (A) India (A) Mozambique (A)
Europe and Central Asia El Salvador (A) Maldives (A) Niger (A)
Grenada (A) Nepal (A) Nigeria (A)
Albania (A) Guatemala (A) Pakistan (A) Rwanda (E)
Armenia (A) Guyana (A) Sri Lanka (A) São Tomé and Principe (P)
Azerbaijan (A) Haiti (A) Senegal (A)
Belarus (A) Honduras (A) Sub-Saharan Africa Seychelles (A)
Bosnia and Herzegovinaa (A) Jamaica (A) Sierra Leone (P)
Bulgaria (A) Mexico (A) Angola (A) Somalia (E)
Georgia (A) Nicaragua (A) Benin (A) South Africa (P)
Kazakhstan (A) Panama (A) Botswana (A) Sudan (A)
Kosovo (A) Paraguay (A) Burkina Faso (E) Swaziland (A)
Kyrgyz Republic (A) Peru (A) Burundi (A) Tanzania (A)
Lithuania (A) St. Kitts and Nevis (P) Cameroon (A) Togo (A)
Macedonia, FYR (A) St. Lucia (A) Cape Verde (A) Uganda (A)
Moldova (A) St. Vincent and the Central African Zambia (P)
Montenegro (A) Grenadines (A) Republic (P) Zimbabwe (A)
Romania (A) Uruguay (A) Chad (A)
Russian Federation (P) Venezuela, RB (A) Comoros (P)
Note: Letters in parentheses indicate DRS reporters’ status: (A) as reported, (P) preliminary, and (E) estimated. The status “as reported” indicates that the country was fully current in its report-
ing under the DRS and that World Bank staff members are satisfied that the reported data give an adequate and fair representation of the country’s total public debt. “Preliminary” data are based
on reported or collected information but, because of incompleteness or other reasons, include an element of staff estimation. “Estimated” data indicate that countries are not current in their
reporting and that a significant element of staff estimation was necessary in producing the data tables.
a. For Bosnia and Herzegovina, total debt before 1999 (excluding IBRD and IMF obligations and short-term debt) is included under Serbia.
b. Data prior to 2006 include Montenegro.
321
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Income Groups
Low-income countries Somalia Dominican Republic Papua New Guinea
Tajikistan Ecuador Paraguay
Afghanistan Tanzania Egypt, Arab Rep. Peru
Bangladesh Togo El Salvador Philippines
Benin Uganda Fiji Romania
Burkina Faso Zambia Gabon Russian Federation
Burundi Zimbabwe Georgia Samoa
Cambodia Grenada São Tomé and Principe
Central African Republic Middle-income countries Guatemala Senegal
Chad Guyana Serbia
Comoros Albania Honduras Seychelles
Congo, Dem. Rep. Algeria India South Africa
Eritrea Angola Indonesia Sri Lanka
Ethiopia Argentina Iran, Islamic Rep. Syrian Arab Republic
Gambia, The Armenia Jamaica St. Kitts and Nevis
Ghana Azerbaijan Jordan St. Lucia
Guinea Belarus Kazakhstan St. Vincent and the Grenadines
Guinea-Bissau Belize Kosovo Sudan
Haiti Bhutan Lebanon Swaziland
Kenya Bolivia Lesotho Thailand
Kyrgyz Republic Botswana Lithuania Tonga
Lao PDR Bosnia and Herzegovina Macedonia, FYR Tunisia
Liberia Brazil Malaysia Turkey
Madagascar Bulgaria Maldives Turkmenistan
Malawi Cameroon Mauritius Ukraine
Mali Cape Verde Mexico Uruguay
Mauritania Chile Moldova Uzbekistan
Mozambique China Mongolia Vanuatu
Myanmar Colombia Montenegro Venezuela, RB
Nepal Congo, Rep. Morocco Vietnam
Niger Costa Rica Nicaragua Yemen, Rep.
Rwanda Côte d’Ivoire Nigeria
Sierra Leone Djibouti Pakistan
Solomon Islands Dominica Panama
Note: Low-income countries are those with a GNI per capita of $995 or less in 2009. Middle-income economies are those with a GNI per capita of more than $996 but less than $12,195. Lower-
middle-income and upper-middle-income countries are separated at a GNI per capita of $3,946.
322
.
Glossary
Average terms of new commitments provide unit of account is also taken into account. The
information on the average terms (interest rate, principal currencies in which the external debt of
maturity, and grace period) of new commitments low- and middle-income countries is contracted
on public and publicly guaranteed external debt (the euro, Japanese yen, pound sterling, Swiss
contracted with public and private creditors. Av- franc, and U.S. dollar) are separately identified.
erages are weighted by the amounts of the loans. Beginning in 2001, debt denominated in the
currencies of the members in the euro area is
Bilateral official creditors are official agencies that included under the euro rather than the national
make loans on behalf of one government to an- currencies that previously prevailed.
other government or to public (and, in some cases,
private) borrowers in another country. Current account balance is the sum of net bal-
ances on trade in goods, services, and income and
Bonds are debt instruments issued by public and the net current transfers.
publicly guaranteed or private debtors with dura-
tions of one year or longer. Bonds usually give the Debt buyback is the repurchase by a debtor of its
holder the unconditional right to fixed money in- own debt, either at a discount price or at par value.
come or contractually determined, variable money In the event of a buyback of long-term debt, the
income. face value of the debt bought back will be recorded
as a decline in stock outstanding of long-term debt,
Commercial banks are private banks that provide and the cash amount received by creditors will be
loans and other financial services. recorded as a principal repayment. For example,
Commitments of public and publicly guaranteed if a country buys back long-term external debt of
debt constitute the total amount of new long-term face value B at a price P, then long-term external
loans to public sector borrowers or borrowers debt will decline by B, and principal repayment will
with a public sector guarantee extended by official increase by P. The difference between the price at
and private lenders and for which contracts were which the debt was bought back and the face value
signed in the year specified. is recorded as a debt stock write-off (the related
transactions are not separately indentified in the
Contractual obligations on outstanding long-term Global Development Finance (GDF) publication but
external debt are the anticipated debt service pay- are available in the CD-ROM and online database).
ments on long-term external debt contracted up to
December 2009. Debt forgiveness grants include both debts can-
celed by agreement between debtor and creditor
Currency composition of public and publicly and reductions in the net present value of official
guaranteed debt provides information on the nonconcessional loans resulting from concessional
share of loans outstanding and disbursed by cur- rescheduling or refinancing. Data are recorded on
rency of repayment. For major multilateral credi- a disbursement basis and include debt forgiveness
tors, the currency composition of the relevant from bilateral and multilateral creditors.
323
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Debt outstanding and disbursed is the value at capital. The term describes a category of interna-
year’s end of long-term external debt owed by tional investment made by a resident entity in one
public and publicly guaranteed debtors and pri- economy (direct investor) with the objective of
vate nonguaranteed debtors. establishing a lasting interest in an enterprise resi-
dent in an economy other than that of the investor
Debt restructurings are revisions to debt service (direct investment enterprise). Ownership of 10
obligations agreed on by creditors and debtors. percent or more of the ordinary shares or voting
Such agreements change the amount and timing of stock is the criterion for determining the existence
future principal and interest payments. of a direct investment relationship.
Debt service to exports is the ratio of the sum of Grace period is the time between the date on which
principal repayments and interest paid on total a loan is committed and the date on which the first
long-term debt (public and publicly guaranteed principal payment is due. The information pre-
debt and private nonguaranteed debt) to the value sented in Global Development Finance is the aver-
of exports of goods and services and receipts of age grace period on all public and publicly guaran-
income from abroad. teed debt committed during the specified period.
Debt stock-flow reconciliation shows the indica- Grants are legally binding commitments that obli-
tors that affect the change in debt stocks from one gate a specific value of funds available for disburse-
period to the next. ment for which there is no payment requirement.
They include debt forgiveness grants and grants
Disbursements are drawings during the year from bilateral and multilateral agencies (such as
specified on loan commitments contracted by the the International Development Association).
borrower.
Gross national income (GNI) is the sum of value
Exports of goods, services, and income constitute added by all resident producers, plus any product
the total value of exports of goods and services, taxes (less subsidies) not included in the valuation
receipts of compensation of nonresident workers, of output, plus net receipts of primary income (com-
and investment income from abroad. pensation of employees and property income) from
abroad. Yearly average exchange rates are used to
External debt flows are debt-related transactions
convert GNI from local currency to U.S. dollars.
during the year specified. They include disburse-
ments, principal repayments, and interest pay- Heavily Indebted Poor Country (HIPC) Initiative is
ments. a program of the World Bank and the International
Monetary Fund to provide debt relief to qualifying
External debt stocks comprise public and publicly
countries with unsustainable debt burdens.
guaranteed long-term external debt, private non-
guaranteed long-term external debt, use of IMF Imports of goods, services, and income constitute
credit, and short-term external debt, including the total value of goods and services imported and
interest arrears on long-term debt. The relation income payable to nonresidents.
between external debt stock and its components is
Interest arrears on long-term debt are interest pay-
illustrated on page 317.
ments due but not paid, shown on a cumulative
External debt stocks to exports is the ratio of basis. Interest arrears are due and payable imme-
outstanding external debt to the value of exports diately and are therefore regarded as short-term
of goods and services and receipts of income from obligations. Thus, an increase in interest arrears
abroad. on long-term debt will be recorded as an increase
in short-term debt. Interest in arrears on the use of
External debt stocks to GNI is the ratio of out- IMF credit is also considered to be part of short-
standing external debt to gross national income. term external debt.
Foreign direct investment refers to direct invest- Interest payments are the amounts of interest paid
ment flows in the reporting economy. It is the sum in foreign currency, goods, or services in the year
of equity capital, reinvestment earnings, and other specified.
324
G L O S S A R Y
Interest rate is the interest rate applicable to a loan grace and repayment periods. The information
commitment as specified in the loan contract. The presented in Global Development Finance is the
information presented in Global Development average maturity on all public and publicly guar-
Finance is the average interest on all public and anteed debt committed during the specified period.
publicly guaranteed debt committed during the
specified period. Multilateral Debt Relief Initiative (MDRI) is a
program of the World Bank, the IMF, the Inter-
International Bank for Reconstruction and Devel- American Development Bank, and the African
opment (IBRD) is a multilateral official creditor. It Development Bank that provides additional debt
is the nonconcessional lending arm of the World relief to countries that have completed the HIPC
Bank Group. process.
International Development Association (IDA) is a Multilateral official creditors are official agencies
multilateral official creditor. It is the concessional owned or governed by more than one country that
financing arm of the World Bank Group. The provide loan financing. They include international
IDA also provides grant financing to qualified financial institutions such as the World Bank,
borrowers. regional development banks, and other intergov-
ernmental agencies.
International Monetary Fund (IMF) charges are
the amounts of interest paid in foreign currency in Multilateral to external debt stocks is the ratio of
the year specified for transactions with the IMF. the stock of debt owed to multilateral creditors to
total external debt.
International Monetary Fund (IMF) purchases are
the total drawings on the general resources ac- Net flows on external debt are disbursements on
count of the IMF during the year specified, exclud- long-term external debt and IMF purchases minus
ing drawings in the reserve tranche. principal repayments on long-term external debt
and IMF repurchases. Up to 1984, this calcula-
International Monetary Fund (IMF) repurchases tion included only long-term external debt and
are the amounts of principal (amortization) paid IMF flows. From 1985, the calculation includes
in foreign currency in the year specified for trans- the change in stock of short-term debt (excluding
actions with the IMF. interest arrears on long-term external debt).
International reserves constitute the sum of a Official creditors are governments or other bi-
country’s monetary authority’s holdings of special lateral public entities, such as export-import
drawing rights, its reserve position in the IMF, its agencies, development agencies, and multilateral
holdings of foreign exchange, and its holdings of financial institutions such as the World Bank and
gold (valued at year-end London prices). regional development banks.
Long-term external debt is debt that has an origi- Portfolio equity is the category of international
nal or extended maturity of more than one year investment that covers investment in equity securi-
and that is owed to nonresidents by residents of ties. Equity securities include shares, stocks, par-
an economy and is repayable in foreign currency, ticipation, or similar documents (such as American
goods, or services. Depositary Receipts) that usually denote owner-
ship of equity.
Long-term private sector debt is long-term debt
owed by the private sector, whether publicly guar- Present value of debt outstanding is the nominal
anteed or not. value of all future debt service obligations on ex-
isting debt discounted at prevailing market rates
Long-term public sector debt is long-term external of interest. The interest rates used in this calcula-
debt owed by the public sector. tion are the Commercial Interest Reference Rates
(CIRR) for each relevant currency compiled and
Maturity is the date on which the final principal published by the Organisation for Economic Co-
repayment on a loan is due. It is the sum of the operation and Development.
325
G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1
Principal arrears on long-term debt are principal Short-term to external debt stock ratio is the ratio
repayments due but not paid on long-term exter- of short-term external debt to total outstanding
nal debt, shown on a cumulative basis. external debt.
Principal repayments are the amounts of principal Special Drawing Rights (SDRs) refer to an interna-
(amortization) paid in foreign currency, goods, or tional reserve asset that was created by the IMF in
services in the year specified with respect to long- 1969 to supplement its member countries’ official
term external debt. reserves. The value of SDRs is based on a basket of
four key international currencies: the U.S. dollar,
Private creditors are bondholders, commercial the pound sterling, the Japanese yen, and the euro.
banks, and other trade-related lenders. In addition to playing a role as a supplementary
reserve asset, SDRs serve as the unit of account for
Private nonguaranteed debt is debt owed by pri-
the IMF and some other international organizations.
vate sector borrowers to external creditors on
loans that do not benefit from a public sector Technical cooperation grants include (a) free-
guarantee by the debtor country. standing technical cooperation grants, which are
intended to finance the transfer of technical and
Profit remittances on FDI are payments of direct
managerial skills or of technology for the purpose
investment income (debit side), which consist of
of building up general national capacity without
income on equity (dividends, branch profits, and
reference to any specific investment projects,
reinvested earnings) and income on the intercom-
and (b) investment-related technical cooperation
pany debt (interest).
grants, which are aimed at strengthening the ca-
Public and publicly guaranteed debt outstanding pacity to execute specific investment projects.
and disbursed is the value of debt at year’s end of
Total amount forgiven is the total amount of prin-
public sector borrowers, or borrowers with a pub-
cipal and interest due, principal and interest in ar-
lic sector guarantee, owed to official and private
rears, and debt stock forgiven in the year specified.
lenders.
Total amount rescheduled is the total amount
Public and publicly guaranteed external debt com-
of external debt rescheduled, including principal
prises public debt (an external obligation of a public
and interest due, principal and interest in arrears,
debtor, such as the national government or agency,
charges, penalties, and debt stock in the year
a political subdivision or agency, or an autonomous
specified.
public body) and publicly guaranteed external debt
(an external obligation of a private debtor that is Total change in external debt stocks is the differ-
guaranteed for repayment by a public entity). ence in the external debt stock between two con-
secutive years.
Reserves to external debt stocks is the ratio of in-
ternational reserves to outstanding external debt. Use of IMF credit denotes members’ drawings on
the IMF other than amounts drawn against the
Reserves to imports (months) is the ratio of inter-
country’s reserve tranche position. Use of IMF
national reserves to the value of imports of goods,
credit includes purchases and drawings under
services, and income in the year shown and is ex-
Stand-By, Extended, Structural Adjustment,
pressed in months:
Enhanced Structural Adjustment, and Systemic
Reserves Transformation Facility Arrangements as well as
Trust Fund loans.
Imports/12
Worker remittances and compensation of employ-
Short-term external debt has an original maturity ees constitute the sum of workers’ remittances,
of one year or less. Available data permit no dis- compensation of employees, and migrants’ trans-
tinction among public, publicly guaranteed, and fers as defined in the IMF’s Balance of Payments
private nonguaranteed short-term external debt. Manual (BPM5).
326
.
Users’ Guide
The general cutoff date for all data in this publication is end-September 2010. The economic aggregates
presented in the tables are prepared for the convenience of users. Although debt ratios can give useful in-
formation about developments in debt-servicing capacity, conclusions drawn from them will not be valid
unless accompanied by careful economic evaluation.
The macroeconomic data provided are collected from national statistical organizations, but in some
cases they may be subject to considerable margins of error. The usual care must be taken in interpreting the
ratios, particularly for the most recent years, because figures may be preliminary and subject to revision.
Country notes at the end of each country table summarize major events that have taken place in
the country in recent years, describe the sources of information for short-term and private nonguar-
anteed external debt, and highlight main issues in the data collection process. Unless otherwise speci-
fied in the country table, data on long-term public and publicly guaranteed external debt for 2009 are
based on reports provided by the country.
Abbreviations
The following abbreviations are used in the principal ratios and indicator tables:
Symbols
The following symbols have been used throughout:
327
ECO-AUDIT
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G lobal Development Finance 2011:
External Debt of Developing Countries is
The database covers external debt stocks and
flows, major economic aggregates, and key
debt ratios, as well as average terms of new
a continuation of the World Bank’s publications
Global Development Finance,Volume II (1997 commitments, currency composition of long-
through 2009) and the earlier World Debt Tables term debt, and debt restructurings in greater
(1973 through 1996). As in previous years, detail than can be included in the GDF book.
GDF 2011 provides statistical tables showing The CD-ROM also contains the full contents
the external debt of 128 developing countries of the print version of GDF 2011. Text
that report public and publicly guaranteed providing country notes, definitions, and source
external debt to the World Bank’s Debtor information is linked to each table.
Reporting System (DRS). It also includes World Bank open databases are available
tables of key debt ratios for individual reporting through the World Bank’s website,
countries and the composition of external http://data.worldbank.org. The Little Data
debt stocks and flows for individual reporting Book on External Debt 2011 provides a quick
countries and regional and income groups reference to the data from GDF 2011. For
along with some graphical presentations. more information on the GDF database, CD-
GDF 2011 draws on a database maintained ROM, and print publications go to
by the World Bank External Debt (WBXD) http://publications.worldbank.org/ecommerce/.
system. Longer time series and more detailed Global Development Finance 2011: External
data are available from the Global Development Debt of Developing Countries is unique in its
Finance 2011 on CD-ROM and the World coverage of the important trends and issues
Bank open databases, which contain more than fundamental to the financing of the developing
200 time series indicators, covering the years world. This report is an indispensable resource
1970 to 2009 for most reporting countries, for governments, economists, investors, financial
and pipeline data for scheduled debt service consultants, academics, bankers, and the entire
payments on existing commitments to 2017. development community.
ISBN: 978-0-8213-8673-6
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