Glossary Present value of external debt outstanding is the nominal value of all future debt service obligations on existing debt discounted at prevailing market rates of interest. The interest rates used in this calculation are the Commercial Interest Reference Rates (CIRR) for each relevant currency compiled and published by the Organisation for Economic Co-operation and Development. Present value of external debt to exports is the ratio of the present value of external debt to exports of goods and services. It is calculated as the ratio of the present value of external debt for 2010 to the three-year (2008–10) average of exports and might include World Bank staff estimates. Present value of external debt to GNI is the ratio of the present value of external debt to gross national income (GNI). It is calculated as the ratio of the present value of external debt for 2010 to the three-year (2008–10) average of GNI and might include World Bank staff estimates. Principal repayments are the amounts of principal (amortization) paid in foreign currency, goods, or services. Private creditors are bondholders, commercial banks, and other traderelated lenders. Private nonguaranteed debt is debt owed by private sector borrowers to external creditors on loans that do not benefit from a public sector guarantee by the debtor country. Profit remittances on FDI are payments of direct investment income (debit side), which consist of income on equity (dividends, branch profits, and reinvested earnings) and income on intercompany debt (interest). Public and publicly guaranteed debt comprises public debt (an external obligation of a public debtor, such as the national government or agency, a political subdivision or agency, or an autonomous public body) and publicly guaranteed external debt (an external obligation of a private debtor that is guaranteed for repayment by a public entity). Reserves to external debt stocks is the ratio of international reserves to outstanding external debt. Share of public sector external debt in total is public sector external debt as a percentage of total external debt. Short-term external debt has an original maturity of one year or less. Available data permit no distinction between public and private nonguaranteed shortterm external debt. Total external debt service paid is debt service payments on long-term external debt (public and publicly guaranteed and private nonguaranteed), use of International Monetary Fund credit, and interest on short-term external debt.
The Little Data Book on External Debt
2012
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