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International Debt Statistics 2014


International Debt Statistics 2014


© 2014 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved 1 2 3 4 17 16 15 14 This work is a product of the staff of The World Bank with external contributions. Note that The World Bank does not necessarily own each component of the content included in the work. The World Bank therefore does not warrant that the use of the content contained in the work will not infringe on the rights of third parties. The risk of claims resulting from such infringement rests solely with you. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved. Rights and Permissions

This work is available under the Creative Commons Attribution 3.0 Unported license (CC BY 3.0) http:// creativecommons.org/licenses/by/3.0. Under the Creative Commons Attribution license, you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes, under the following conditions: Attribution—Please cite the work as follows: World Bank. 2014. International Debt Statistics 2014. Washington, DC: World Bank. doi: 10.1596/978-1-4648-0051-1. License: Creative Commons Attribution CC BY 3.0 Translations—If you create a translation of this work, please add the following disclaimer along with the attribution: This translation was not created by The World Bank and should not be considered an official World Bank translation. The World Bank shall not be liable for any content or error in this translation. All queries on rights and licenses should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org.

ISBN (paper): 978-1-4648-0051-1 ISBN (electronic): 978-1-4648-0052-8 DOI: 10.1596/978-1-4648-0051-1 ISSN (paper): 2310-2667 ISSN (electronic): 2310-2675 Cover design: Jomo Tariku, World Bank Cover image: original artwork by Jomo Tariku, World Bank


Table of Contents

Preface

vii

Acknowledgments

ix

User Guide to Tables

xi

User Guide to IDS Online Tables How to Access IDS Online Country Tables Indicators How to Use the Databank

xiii xiii xv xvii

Overview I. Trends in External Debt Stocks and Flows Aggregate Net Flows to Developing Countries Regional Trends East Asia and Pacific Europe and Central Asia Latin America and the Caribbean Middle East and North Africa South Asia Sub-Saharan Africa II. Quarterly External Debt Statistics III. Public Sector Debt

1 2 5 8 8 10 12 14 16 18 20 22

Summary Tables

25

Aggregate Tables

33

Country Tables Afghanistan Albania Algeria Angola Argentina Armenia Azerbaijan Bangladesh

43 45 46 47 48 49 50 51 52

Belarus Belize Benin Bhutan Bolivia, Plurinational State of Bosnia and Herzegovina Botswana Brazil Bulgaria Burkina Faso Burundi Cambodia Cameroon Cape Verde Central African Republic Chad China Colombia Comoros Congo, Democratic Republic of Congo, Republic of Costa Rica Côte d’Ivoire Djibouti Dominica Dominican Republic Ecuador Egypt, Arab Republic of El Salvador Eritrea Ethiopia Fiji Gabon Gambia, The Georgia Ghana Grenada Guatemala

v

53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90


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Guinea Guinea-Bissau Guyana Haiti Honduras Hungary India Indonesia Iran, Islamic Republic of Jamaica Jordan Kazakhstan Kenya Kosovo Kyrgyz Republic Lao People’s Democratic Republic Lebanon Lesotho Liberia Macedonia, FYR Madagascar Malawi Malaysia Maldives Mali Mauritania Mauritius Mexico Moldova Mongolia Montenegro Morocco Mozambique Myanmar Nepal Nicaragua Niger Nigeria Pakistan Panama Papua New Guinea Paraguay Peru Philippines Romania

91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135

vi

Rwanda Samoa São Tomé and Príncipe Senegal Serbia Seychelles Sierra Leone Solomon Islands Somalia South Africa Sri Lanka St. Lucia St. Vincent and the Grenadines Sudan Swaziland Syrian Arab Republic Tajikistan Tanzania Thailand Togo Tonga Tunisia Turkey Turkmenistan Uganda Ukraine Uzbekistan Vanuatu Venezuela, República Bolivariana de Vietnam Yemen, Republic of Zambia Zimbabwe

136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168

About the Data

169

Data Sources and Methodology Data Sources Methodology External Debt and Its Components Sources of the Macroeconomic Indicators Country Groups Glossary Debt Reporting System (DRS) Quarterly Debt Statistics

171 171 172 174 177 179 181 181 185


Preface

T

his year’s edition of International Debt Statistics, successor to Global Development Finance and World Debt Tables, and the second in the series, is designed to respond to user demand for timely, comprehensive data on trends in external debt in developing countries. It also provides summary information on the external debt of high-income countries and public (domestic and external) debt for a select group of countries. The World Bank’s Debtor Reporting System (DRS), from which the aggregates and country tables presented in this report are drawn, was established in 1951. World Debt Tables, the first publication that included DRS external debt data, appeared in 1973 and gained increased attention during the debt crisis of the 1980s. Since then, the publication and data have undergone numerous revisions and iterations to address the challenges and demands posed by the global economic conditions. Presentation and access to data have been refined to improve the user experience. The printed edition of International Debt Statistics 2014 now provides a summary overview and a select set of

indicators, while an expanded dataset is available online (datatopics.worldbank.org/debt/ids). By providing comprehensive and timely data that reflects the latest additions and revisions, and by expanding the scope of the data available online, we aim to serve the needs of our users and to reach a wider audience. Improvements in data dissemination are matched with ongoing efforts to improve the quality and timeliness of data collection. In partnership with the major providers of debt data management systems to developing countries, the Commonwealth Secretariat (COMSEC) and the United Nations C o n f e r e n c e o n Tr a d e a n d D e v e l o p m e n t (UNCTAD), we are working toward an established standard code and system links that will enable countries to provide their DRS reports electronically, in a seamless and automated data exchange process. As these changes take place, we welcome your feedback and suggestions for further improvements at data@worldbank.org. Haishan Fu Director, Development Data Group

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Acknowledgments

T

his volume was prepared by the Financial Data Team of the Development Data Group (DECDG), led by Ibrahim Levent under the management of Neil Fantom, and comprising Wendy Huang, Hiroko Maeda, Patricia Olmedo, Iulian Pogor, Malvina Pollock, Evis Rucaj, Rubena Sukaj, Sun Hwa Song, Maryna Taran, Rasiel Vellos, and Alagiriswamy Venkatesan, who worked closely with other teams in DECDG. The team was assisted by Elysee Kiti. The overview of current developments was prepared by Malvina Pollock, Evis Rucaj, and Rasiel Vellos in consultation with the staff of DECDG; country economists reviewed the data tables. The work was carried out under the direction of Grant Cameron and Haishan Fu. Valuable advice was provided by the Operations and Strategy unit of the Vice Presidency.

The production of this volume was managed by Azita Amjadi. The online database was prepared by Shelley Fu and William Prince. International Debt Statistics electronic products were prepared by a team led by Malarvizhi Veerappan under the supervision of Soong Sup Lee and comprising Ying Chi, Rajesh Danda, Jean-Pierre Djomalieu, Ramgopal Erabelly, Shelley Fu, Omar Hadi, Gytis Kanchas, Siddhesh Kaushik, Ugendran Machakkalai, Nacer Megherbi, Shanmugam Natarajan, Parastoo Oloumi, Manish Rathore, Ganeshkumar Sathiyamoorthy, Ashish Shah, and Atsushi Shimo. The cover was designed by Jomo Tariku. Denise Bergeron, Susan Graham, and Stephen McGroarty from the Publishing and Knowledge Division of the World Bank coordinated the publication and dissemination of the book.

ix


User Guide to Tables

I

nternational Debt Statistics 2014 focuses on financial flows, trends in external debt, and other major financial indicators for developing and advanced economies. The report includes more than 200 time series indicators from 1970 to 2012 for most reporting countries. This edition of International Debt Statistics (IDS) has been reconfigured to offer a more condensed presentation of the principal indicators, along with additional tables showcasing Quarterly External Debt Statistics and Public Sector Debt.

Tables Summary and Aggregate Tables The summary tables are labeled by the type of data presented for 2012: present value of debt and public and publicly guaranteed debt by multilateral creditors. The aggregate tables are labeled by region name. Data are shown for all developing countries and six regional groups (East Asia and Pacific, Europe and Central Asia, Latin America and the Caribbean, Middle East and North Africa, South Asia, and Sub-Saharan Africa).

Country Tables Country tables are labeled by country name and ordered alphabetically. Data are shown for 124 developing countries that report public and publicly guaranteed external debt to the World Bank’s Debtor Reporting System (DRS). The tables also include key debt ratios and the composition of external debt stocks and flows for each country. Each table shows a time series with the most recent six years, as well as 2000 and 2005 as companion years. Full time series data is available for all countries in the World Bank’s Open Data website (http://data.worldbank.org/data-catalog /international-debt-statistics).

Statistics The general cutoff date for countries to report data for this publication is end-September 2013. The economic aggregates presented in the tables are prepared for the convenience of users. Although debt ratios can give useful information about developments in a 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 may be subject to a considerable margin 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. Notes at the bottom 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 nonguaranteed external debt if the reports were not provided by the country; and highlight main issues in the data collection process. Unless otherwise specified, data on long-term public and publicly guaranteed external debt for 2012 are based on reports provided by the country. More detailed information on data sources, methodology, and compilation is provided in the About the Data section at the back of this book.

Aggregate gg g Measures for Income Groups and Regions Aggregate measures for income groups and regions include the 124 developing countries that report public and publicly guaranteed external debt to the World Bank’s DRS, whenever data are available. The aggregate “All developing countries” is the sum of data for 124 countries.

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Classification of Economies For operational and analytical purposes, the World Bank’s main criterion for classifying economies is gross national income (GNI) per capita (calculated by the World Bank Atlas method). Every economy is classified as low income, middle income, or high income. Low- and middle-income countries are sometimes referred to as developing countries. The term is used for convenience; it is not intended to imply that all countries in the group are experiencing similar development or that other economies have reached a preferred or final stage of development. Because GNI per capita changes over time, the country composition of income groups may change from one edition of International Debt Statistics to the next. Once

xii

the classification is fixed for an edition, based on GNI per capita in the most recent year for which data are available, all historical data presented are based on the same country grouping.

Symbols 0 or 0.0 means zero or small enough that the number would round to zero at the displayed number of decimal places. .. means that data are not available or that aggregates cannot be calculated because of missing data in the years shown. $ indicates current U.S. dollars unless otherwise specified.


User Guide to IDS Online Tables

T

he extended version of country tables that were previously available in the International Debt Statistics print edition is now available online. Using an automated query process, these reference tables will be updated based on the revisions to the International Debt Statistics database. Users can access all the online tables, download the PDF version of the publication, view the report as an eBook on ISSUU, as well as access the database and download the archived editions of the publication by going to http://data.worldbank.org/products/ids.

How to Access IDS Online Country Tables To access the IDS online tables, visit http://datatopics.worldbank.org/debt/ids and select from “Country,” “Region,” or “Topic” options.

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To access a specific country table directly without going through the above landing page, use the URL http://datatopics.worldbank.org/debt/ids/ and the country name (for example, http://datatopics .worldbank.org/debt/ids/country/argentina to view the table for Argentina). Similarly, to view the regional table, click on the “Region� tab and select one of the listed regions (for example http://datatopics .worldbank.org/debt/ids/region/south-asia to view the table for South Asia).

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U S E R

G U I D E

T O

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Indicators The indicator codes for each indicator that appears online and in the publication are listed below. To view a specific indicator online, go to http://data.worldbank.org/indicator/ and add the indicator code at the end of the url; for example, to view a page for total debt stocks, this line should be in your browser: http://data.worldbank.org/indicator/DT.DOD.DECT.CD

1. SUMMARY EXTERNAL DEBT DATA

External debt stocks Long-term external debt

DT.DOD.DECT.CD

External debt flows

DT.DOD.DLXF.CD

Disbursements

DT.DIS.DLTF.CD

Public and publicly guaranteed

DT.DOD.DPPG.CD

Long-term external debt

DT.DIS.DLXF.CD

Private nonguaranteed

DT.DOD.DPNG.CD

IMF purchases

DT.DIS.DIMF.CD

Use of IMF credit

DT.DOD.DIMF.CD

Short-term debt

DT.DOD.DSTC.CD

Long-term external debt

DT.AMT.DLXF.CD

DT.IXA.DPPG.CD

IMF repurchases

DT.AMT.DIMF.CD

interest arrears on long-term

Principal repayments

DT.AMT.DLTF.CD

Net flows Memorandum items

DT.NFL.DECT.CD

Long-term external debt

DT.NFL.DLXF.CD

Short-term external debt

DT.NFL.DSTC.CD

Principal arrears on long-term

DT.AXA.DPPG.CD

Long-term public sector debt

DT.DOD.DPPG.CD

Long-term external debt

DT.INT.DLXF.CD

Long-term private sector debt

DT.DOD.PRVS.CD

IMF charges

DT.INT.DIMF.CD

Short-term external debt

DT.INT.DSTC.CD

Public & publicly guaranteed commitments DT.COM.DPPG.CD

Interest payments (INT)

2. OTHER NON-DEBT RESOURCE FLOWS

DT.INT.DECT.CD

5. MAJOR ECONOMIC AGGREGATES

Foreign direct investment (net)

BX.KLT.DINV.CD.WD

Gross national income (GNI)

NY.GNP.MKTP.CD

Portfolio equity flows

BX.PEF.TOTL.CD.WD

Exports of goods, services, and primary income

BX.GSR.TOTL.CD

Personal transfers and compensation of employees

BX.TRF.PWKR.CD.DT BM.GSR.TOTL.CD

3. CURRENCY COMPOSITION OF PUBLIC AND PUBLICLY GUARANTEED DEBT (%)

Euro

DT.CUR.EURO.ZS

Imports of goods, services and primary income

Japanese yen

DT.CUR.JYEN.ZS

Primary income on FDI

BX.KLT.DREM.CD.DT

Pound sterling

DT.CUR.UKPS.ZS

International reserves

FI.RES.TOTL.CD

Swiss franc

DT.CUR.SWFR.ZS

U.S. dollars

DT.CUR.USDL.ZS 6. RATIOS

4. AVERAGE TERMS OF NEW COMMITMENTS

External debt stocks to exports (%)

DT.DOD.DECT.EX.ZS

Interest (%)

DT.INR.OFFT

External debt stocks to GNI (%)

DT.DOD.DECT.GN.ZS

Maturity (years)

DT.MAT.OFFT

Debt service to exports (%)

DT.TDS.DECT.EX.ZS

Grace period (years)

DT.GPA.OFFT

Short-term to external debt stocks (%)

DT.DOD.DSTC.ZS

Multilateral to external debt stocks (%)

DT.DOD.MLAT.ZS

Reserves to external debt stocks (%)

FI.RES.TOTL.DT.ZS

Current account balance

BN.CAB.XOKA.CD

Reserves to imports (months)

FI.RES.TOTL.MO

Official creditors

Private creditors Interest (%)

DT.INR.PRVT

Maturity (years)

DT.MAT.PRVT

Grace period (years)

DT.GPA.PRVT

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7. LONG-TERM EXTERNAL DEBT

Debt outstanding and disbursed

DT.DOD.DLXF.CD

Interest payments

DT.INT.DLXF.CD

Public and publicly guaranteed

DT.DOD.DPPG.CD

Public and publicly guaranteed

DT.INT.DPPG.CD

Official creditors

DT.DOD.OFFT.CD

Official creditors

DT.INT.OFFT.CD

Multilateral

DT.DOD.MLAT.CD

of which: IBRD IDA Bilateral

DT.DOD.MIBR.CD

of which: Bonds Commercial banks Private nonguaranteed of which: Bonds

of which: IBRD

DT.DOD.MIDA.CD DT.DOD.BLAT.CD

Private creditors

Multilateral

DT.DOD.PRVT.CD DT.DOD.PBND.CD

IDA Bilateral

DT.DOD.DPNG.CD DT.DOD.PNGB.CD

DT.INT.MIBR.CD DT.INT.MIDA.CD DT.INT.BLAT.CD

Private creditors of which: Bonds

DT.DOD.PCBK.CD

DT.INT.MLAT.CD

Commercial banks Private nonguaranteed

DT.INT.PRVT.CD DT.INT.PBND.CD DT.INT.PCBK.CD DT.INT.DPNG.CD

of which: Bonds

DT.INT.PNGB.CD

Disbursements

DT.DIS.DLXF.CD

Principal repayments

DT.AMT.DLXF.CD

Public and publicly guaranteed

DT.DIS.DPPG.CD

Public and publicly guaranteed

DT.AMT.DPPG.CD

Official creditors

DT.DIS.OFFT.CD

Official creditors

DT.AMT.OFFT.CD

DT.DIS.MLAT.CD

Multilateral of which: IBRD IDA Bilateral

DT.DIS.MIBR.CD

of which: Bonds Commercial banks Private nonguaranteed of which: Bonds

of which: IBRD

DT.DIS.MIDA.CD DT.DIS.BLAT.CD

Private creditors

Multilateral

DT.DIS.PRVT.CD DT.DIS.PBND.CD

IDA Bilateral

DT.DIS.DPNG.CD DT.DIS.PNGB.CD

DT.AMT.MIBR.CD DT.AMT.MIDA.CD DT.AMT.BLAT.CD

Private creditors of which: Bonds

DT.DIS.PCBK.CD

DT.AMT.MLAT.CD

Commercial banks Private nonguaranteed of which: Bonds

DT.AMT.PRVT.CD DT.AMT.PBND.CD DT.AMT.PCBK.CD DT.AMT.DPNG.CD DT.AMT.PNGB.CD

10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM EXTERNAL DEBT

8. DEBT STOCK-FLOW RECONCILATION

Total change in external debt stocks

DT.DOD.DECT.CD.CG

Net flows on external debt

DT.NFL.DECT.CD

Official creditors Principal

DT.AMT.OFFT.CD

Interest

DT.INT.OFFT.CD

Private creditors

9. DEBT STOCK-FLOW RECONCILATION

Total amount rescheduled

DT.DXR.DPPG.CD

Total amount forgiven

DT.DFR.DPPG.CD

Debt buyback

DT.DSB.DPPG.CD

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Principal

DT.AMT.PRVT.CD

Interest

DT.INT.PRVT.CD


U S E R

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O N L I N E

How to Use the Databank DataBank (http://databank.worldbank.org) is an online web resource that provides simple and quick access to collections of time series data. It has advanced functions for selecting and displaying data, performing customized queries, downloading data, and creating charts and maps. Users can create dynamic, custom reports based on their selection of countries, indicators, and years. All these reports can be easily edited, shared, and embedded as widgets on websites or blogs. For more information, see http://databank .worldbank.org/help.

Actions Click to share the table using either the embed code or the URL Click to edit and revise the table in DataBank Click to export all metadata to Excel Click to export the table to Excel Click to export the table and corresponding indicator metadata to PDF Click to print the table and corresponding indicator metadata Click to access the IDS Online Tables Help file

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T A B L E S


Overview

I

nternational Debt Statistics 2014 presents data and analytical information on the external debt of developing countries for 2012, based on actual flows and debt-related transactions reported to the World Bank Debtor Reporting System (DRS) by 124 developing countries. It provides users with comprehensive stock and flow data on the external debt of individual developing countries and for regional and analytical groupings. In addition, International Debt Statistics (IDS) showcases the broader spectrum of debt data collected and compiled by the World Bank. These include the high frequency, quarterly data for high-income and select developing countries reporting to the joint World Bank窶的nternational Monetary Fund (IMF) Quarterly External Debt Statistics (QEDS) and the Public Sector Debt (PSD) database launched in 2010. In common with the DRS, these databases promote consistency and comparability across countries through standard definitions and valuation methods. IDS also includes a summary analysis of aggregate net capital flows (debt and equity) in 2012. The main messages from the 2012 data are: (a) Net debt flows to developing countries were $412 billion in 2012, 9 percent lower than the comparable figure for 2011. However, the aggregates mask the impact of the sharp contraction in net debt flows to China, which fell to less than 30 percent of their 2011 level. When China is excluded, net debt flows to developing countries increased in 2012; they rose by 20 percent in 2012 with long-term debt flows 14 percent higher and short-term debt flows 55 percent higher than in 2011. (b) Debt flows in 2012 were characterized by important shifts in both borrowing patterns

and sources of financing. Inflows to public and publicly guaranteed borrowers rose 83 percent and accounted for one-half of long-term debt inflows, compared with one-third in 2011. In contrast, net flows to private nonguaranteed borrowers fell 17 percent, and short-term debt flows contracted sharply (41 percent). Private creditors accounted for more than 90 percent of net debt flows in 2012 and were dominated by the surge in bond issuance by developingcountry borrowers, which rose by 30 percent over the 2011 level. (c) Aggregate net capital flows, debt, and equity combined totaled just over $1.1 trillion in 2012, little changed from 2011. Foreign direct investment proved resilient despite being 6 percent lower than in 2011, and this decline was more than offset by the surge in portfolio equity flows. Measured relative to developing-country gross national income (GNI), aggregate capital flows have fallen sharply: to 4.7 percent in 2012, well short of the 7.7 percent recorded in 2007. (d) Countries reporting to the QEDS and PSD databases confirm that external debt and public debt levels in high-income countries are, on average, much higher than in developing countries. The ratio of external debt to GDP in high-income countries averaged 143 percent in 2012, and in some cases surpassed 200 percent. This was the antithesis in developing countries, where the ratio of external debt to GNI averaged 22 percent in 2012. Similarly, general government debt relative to GDP in high-income countries is, on average, twice the comparable ratio for the largest borrowers among developing countries.

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Table I.1. External Debt Stock of Developing Countries and Selected Ratios, 2005–12 $ billion 2005

2006

2007

2008

2009

2010

2011

2012

Total external debt outstanding

2,338.0

2,534.4

2,993.5

3,262.1

3,542.1

3,987.5

4,437.8

4,829.6

Long-term external debt (including IMF)

1,856.8

1,975.1

2,293.4

2,559.4

2,792.7

2,987.1

3,265.3

3,552.0

Public and publicly guaranteed (including IMF)

1,292.2

1,223.4

1,304.7

1,369.3

1,559.7

1,688.0

1,768.5

1,911.3

Private nonguaranteed

564.6

751.7

988.7

1,190.0

1,233.0

1,299.1

1,496.8

1,640.7

Short-term external debt

481.2

559.3

700.1

702.8

749.4

1,000.3

1,172.5

1,277.6

External debt stocks to GNI (%)

27.2

25.0

23.9

21.9

23.7

22.3

21.4

22.1

External debt stocks to exports (%)

80.5

71.8

69.4

63.0

83.4

75.4

69.3

71.9

Reserves to external debt stocks (%)

74.3

88.4

104.8

111.7

120.8

124.2

122.3

117.6

Ratios

Sources: World Bank Debtor Reporting System and International Monetary Fund.

I. Trends in External Debt Stocks and Flows

T

he pace of debt accumulation slowed to 9 percent in 2012, from 11 percent in 2011 with both long-term and short-term debt increasing at the same pace. This was in marked contrast to 2011, when the rise in short-term debt, 17 percent, grew almost twice as fast as that in long-term debt. The combined stock of developing countries’ external debt rose from $4.4 trillion in 2011 to $4.8 trillion at the end of 2012, reflecting net debt inflows of $412 billion and debt forgiveness in the context of the Heavily Indebted Poor Country (HIPC) Initiative. It also includes the effect of the year-on-year exchange adjustments of foreign currencies relative to the U.S. dollar, in which approximately one-third of developing countries’ external debt is denominated. The stock of long-term debt at the end of 2012 was fairly evenly divided between publicly guaranteed debt, 54 percent, and debt owed to private, nonguaranteed borrowers, 46 percent. The stock of shortterm debt, as a share of total outstanding debt, was 26 percent at the end of 2012, unchanged from the previous year (table I.1). Net debt flows to developing countries fell 9 percent in 2012, to $412 billion, and were characterized by some important shifts in borrowing patterns and sources of financing. Viewed from the borrower perspective, net flows of public and publicly guaranteed debt drove the overall increase in long-term debt flows in 2012. They

2

jumped 67 percent, to $155 billion, in contrast to a 17 percent fall in net flows to private, nonguaranteed borrowers, accompanied by a sharp 41 percent contraction in short-term debt flows. As a result, public and publicly guaranteed borrowers accounted for one-half of long-term debt inflows, as compared with one-third in 2011. Regarding the source of financing, private creditors remained dominant and accounted for more than 90 percent of net debt flows in 2012. Long-term debt flows from private creditors continued their upward trajectory, rising by an additional 15 percent in 2012 on the back of the surge in bond issuance by developing-country borrowers. These rose to $179 billion (from $121 billion in 2011), offsetting both the fall in long-term lending by commercial banks and a large part of the decline in short-term debt flows (table I.2). The rapid contraction in net debt flows to China dominated the global trend. They plummeted to $38 billion in 2012, less than 30 percent of their 2011 level. If China (the single largest borrower among developing countries) is excluded, then net debt flows to developing countries rose 20 percent in 2012 with long-term debt flows 14 percent higher and short-term debt flows 55 percent higher than the 2011 level (figure I.1). Just ten of the 124 countries reporting to the World Bank DRS received more than 70 percent of net debt flows in 2012 and owed 65 percent of


O V E R V I E W

Table I.2 Net Debt Flows to Developing Countries, 2005–12 $ billion 2005

2006

2007

2008

2009

2010

2011

2012

120.7

204.6

382.1

248.4

206.7

481.2

451.9

411.8

35.5

126.5

243.6

245.5

159.3

225.6

276.7

308.4

–23.2

–42.1

35.7

50.3

117.3

157.6

92.6

154.8

58.7

168.6

207.9

195.1

42.0

67.9

184.1

153.6

85.2

78.1

138.5

2.9

47.4

255.6

175.1

103.4

Net inflows Total net debt flows Long-term net debt flows Public and publicly guaranteed (including IMF) Private nonguaranteed Short-term debt flows By creditor Official creditors (including IMF)

–41.5

–40.1

3.2

42.7

93.8

80.1

32.0

27.9

Private creditors

162.2

244.7

378.9

205.6

112.9

401.0

419.9

383.9

of which: Long-term debt flows

77.0

166.6

240.4

202.7

65.5

145.4

244.8

280.5

Bonds

41.8

29.5

75.6

7.8

49.9

115.5

120.6

178.7

Banks and other private

35.2

137.1

164.8

195.0

15.6

29.9

124.2

101.8

Net short-term debt flows

85.2

78.1

138.5

2.9

47.4

255.6

175.1

103.4

Source: World Bank Debtor Reporting System.

developing countries’ outstanding external debt.1 This group is comprised of developing countries with the largest economies wherein the volume and trends in financing may differ from, and mask the size and direction of, flows to other developing countries. As a group, the top 10 borrowers saw net debt inflows fall 15 percent in 2012, driven by the 73 percent decline in net

debt inflows to China. Excluding China, the other top 10 borrowers saw net debt inflows jump by 26 percent on average in 2012. At the individual country level, there was wide disparity in the direction of flows, which ranged from massive net debt outflow (in the case of Hungary and Ukraine) to the more than doubling of net debt inflows in South Africa and Turkey. Mexico was the largest

Figure I.1 Net Debt Flows to All Developing Countries 2000–12, Including and Excluding China 600 500 US $ (billion)

400 300 200 100 0 –100

2000

2001

2002

2003

2004

2005 2006

Short-term debt net flows Short-term debt net flows, excluding China Net flows on debt, total

2007

2008

2009 2010

2011 2012

Net flows on debt, total, excluding China Net flows on debt, total long-term Net flows on debt, total long-term, excluding China

Source: World Bank Debtor Reporting System.

1. Defined as countries with the largest stock of outstanding external debt at end 2012.

3


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Table I.3. Top Ten Borrowers, External Debt Stocks 2012, and Net Inflows 2011–12 $ billion External debt stock end 2012 % of total

Net inflow 2011

Net inflow 2012

Amount

Amount

Country

Amount

% change in net inflow 2012

% of total net flow 2012

China

754.0

15.6

140.1

37.8

−73.0

Brazil

440.5

9.1

46.3

39.5

−14.8

9.6

India

379.1

7.8

43.4

44.3

1.9

10.8

Mexico

354.9

7.3

42.9

84.4

96.7

20.5

Turkey

337.5

7.0

17.5

40.1

129.0

9.7

Indonesia

254.9

5.3

22.9

30.2

31.8

7.3

Hungary

203.8

4.2

1.8

−10.7

−685.6

−2.6

South Africa

137.5

2.8

4.4

11.7

168.7

2.8

Kazakhstan

137.0

2.8

6.4

12.4

93.3

3.0

Ukraine

135.1

2.8

11.5

−3.5

−130.5

−0.9

Total top 10 borrowers

3,134.2

64.9

337.2

286.1

−15.2

69.5

Other developing countries

1,695.4

35.1

114.6

125.7

9.7

30.5

All developing countries

4,829.6

100.0

451.9

411.8

−8.9

100.0

9.2

Source: World Bank Debtor Reporting System.

net borrower in 2012, accounting for 20 percent of net debt inflows to all developing countries (table I.3). Developing countries’ external debt burdens are moderate. Despite uncertainty surrounding the global economic and financial crisis, the majority of developing countries have seen their economies rebound strongly since 2010 with a concomitant improvement in the ratio of outstanding external debt to GNI and to export earnings; this improvement translates to an average of 22.1 percent of GNI and 71.9 percent of export earnings at the end of 2012. Risks associated with the fact that short-term debt constituted 26 percent of external debt stock at the end of 2012 were mitigated by international reserves equivalent to 118 percent of the external debt stock at the end of 2012. Most short-term debt was trade related; measured against developing countries’ imports, it was 18 percent—virtually unchanged from 2011. Developing countries have also seen a significant improvement in their external debt payment servicing capacity over the past decade, primarily as

4

a consequence of increased export earnings, but also as a direct outcome of debt restructuring and outright debt relief from official and private creditors. Most HIPC- and MDRI-eligible countries have now fully benefited from HIPC, MDRI, and additional bilateral relief. The average debt service to export ratio fell to 9.8 percent in 2012, a marginal decline from the 10 percent recorded in 2011, but well below half the 21.1 percent at the start of the decade (figure I.2). Bond issuance by developing countries’ public and private borrowers rose nearly 30 percent in 2012, to an all-time high of $226 billion. The principal driver was a surge in new bond issuance by sovereigns and public sector entities in international capital markets and the purchase of domestically issued sovereign bonds by nonresidents, particularly in Mexico and Thailand. Issuance by public borrowers rose 43 percent in 2012, to $137.8 billion, and their share of total bond issuance rose to 61 percent, from 55 percent in 2011. Public borrowers in Latin America and the Caribbean claimed the largest share (39 percent)


O V E R V I E W

Aggregate Net Flows to Developing Countries

Figure I.2. Key Debt Indicator Trends, 2000–12 140

I

120

Percent

100 80 60 40 20 0 2000

2002 2004

2006 2008 2010 2012

External debt stocks to exports External debt stocks to GNI Debt service to exports Short-term debt to imports Sources: World Bank Debtor Reporting System and International Monetary Fund.

followed by those in Europe and Central Asia (25 percent). Issuance by corporate borrowers rose at a more moderate pace, to $88 billion, up 12 percent from 2011. The dominant players were private-sector borrowers in Latin America and the Caribbean, particularly in Brazil and Mexico, who commanded well over half of all corporate bonds issued in 2012. However, the sharpest increase was in Europe and Central Asia, where corporate bond issuance rose more than threefold to $14.7 billion led by Turkey (table I.4).

nternational capital flows, debt and equity combined, totaled just over $1.1 trillion in 2012, only marginally higher than 2011, but 7 percent above their 2007 precrisis level. Measured relative to developing country GNI, net capital flows declined sharply to 5.1 percent in 2012, well short of the 8.4 percent recorded in 2007. Net equity flows rose 8 percent in 2012 driven by a sharp rebound in portfolio equity flows. The increase to almost $100 billion in portfolio equity flows offset both the 7 percent fall in foreign direct investment inflows and the 9 percent decline in net debt inflows. However, this global trend is dominated by development in China, which accounted for more than one-third of net capital flows to developing countries in 2011 and 2012, and in which the net inflow of debt and equity combined fell to $321 billion in 2012, 25 percent below their 2011 level. In contrast, other developing countries saw net capital flows rise 17 percent in 2012 (table I.5). Foreign direct investment is the single largest component of capital flows to developing countries and the most resilient, accounting for almost 55 percent since 2008. UNCTAD’s World Investment Report 2013 confirms that a record 52 percent of global foreign direct investment in 2012 was directed at developing countries with investors attracted by improvements in the business and regulatory environment, growth prospects, and buoyant domestic markets. Although an

Table I.4. Bond Issuance by Developing Country Borrowers, 2011–12 $ billion Public borrowers

Corporate borrowers

2011

2012

2011

2012

East Asia and Pacific

23.5

28.7

16.4

20.3

Europe and Central Asia

18.6

35.1

4.5

14.7

Latin America and the Caribbean

42.5

53.9

55.1

48.7

Middle East and North Africa

4.0

8.3

0.0

0.5

South Asia

3.0

8.5

0.7

0.8

Sub-Saharan Africa

4.5

3.4

1.7

3.1

96.1

137.8

78.5

88.1

62.3

97.3

68.5

69.3

All developing countries Of which: Top ten borrowers Source: World Bank Debtor Reporting System.

5


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Table I.5. Net Capital Flows to Developing Countries, Debt and Equity, 2007–12 $ billion 2007

2008

2009

2010

1,049.8

831.2

698.0

1,116.1

1,109.3

1,121.6

8.4

5.6

4.7

6.2

5.3

5.1

Net equity inflows

667.7

582.8

491.3

634.9

657.4

709.7

Net FDI inflows

558.6

623.4

380.3

511.6

654.7

612.2

Net portfolio equity inflows

109.0

−40.6

110.9

123.4

2.7

97.6

382.1

248.4

206.7

481.2

451.9

411.8

Official creditors

3.2

42.7

93.8

80.1

32.0

27.9

World Bank

5.7

7.8

18.3

23.0

7.0

12.1

−5.2

16.6

31.8

13.4

0.5

−13.4

Private creditors

378.9

205.6

112.9

401.0

419.9

383.9

Net medium- and long-term debt flows

240.4

202.7

65.5

145.4

244.8

280.5

75.6

7.8

49.9

115.5

120.6

178.7

Banks and other private

164.8

195.0

15.6

29.9

124.2

101.8

Net short-term debt flows

138.5

2.9

47.4

255.6

175.1

103.4

−898.5

−506.9

−632.8

−673.4

−475.8

−252.8

255.2

294.5

280.4

310.1

342.9

348.1

Net private and official inflows Percent of GNI (%)

Net debt flows

IMF

Bonds

Change in reserves (− = increase)

2011

2012

Memorandum items Workers remittances

Sources: World Bank Debtor Reporting System, International Monetary Fund, and Bank for International Settlement.

increasing number of developing countries are beneficiaries of foreign direct investment, these flows remain highly concentrated among the ten largest recipients who absorbed more than 75 percent of inflows in 2012. This concentration is also reflected at the regional level with 81 percent of foreign direct investment in the East Asia and Pacific region going to China, while India absorbs almost 90 percent of foreign direct investment into the South Asia region, and Brazil accounts for half of the foreign direct investment going to Latin America and the Caribbean region (figure I.3). Portfolio equity flows remained by far the most volatile of all capital flows. Following a near total collapse in 2011, portfolio equity flows shot up to close to $100 billion in 2012 as investors piled into select emerging markets, where growth prospects remained good and returns were anticipated to be high. Only a handful of developing countries benefited in any significant way from portfolio equity flows. In 2012, more than half of such flows went to China ($29.9 billion) and India ($22.8 billion), and the top six recipients combined accounted for 86 percent of inflows

6

Figure I.3. Net Foreign Direct Investment Inflows to Major Recipients, 2010–12 China Brazil India Indonesia Colombia Mexico Kazakhstan Turkey Peru Argentina 0

50

100

150

200

250

US$ (billion) 2012 Source: International Monetary Fund.

2011

2010

300


O V E R V I E W

to all developing countries—almost identical to their share in 2010. Over the past three years, most recipients experienced extreme volatility in portfolio equity flows. Nigeria stands out as the only country in which the portfolio equity flows have remained positive, and in 2012, on a sharp upward trajectory, portfolio equity flows rose more than fourfold in Nigeria, to $10 billion (table I.6).

Table I.6. Net Inflow of Portfolio Equity to Major Recipients, 2010–12 $ billion

Primary recipients

2010

2011

2012

105.5

3.5

84.6

China

31.4

5.3

29.9

India

30.4

−4.0

22.8

Mexico

0.4

−6.6

10.0

Nigeria

2.2

2.6

10.0

Turkey

3.5

−1.0

6.3

Brazil

37.7

7.2

5.6

Other developing countries

17.9

−0.8

13.0

123.4

2.7

97.6

85.5

128.5

86.7

Total all developing countries Primary recipients as a share of total (%) Source: International Monetary Fund.

7


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Regional Trends East Asia and Pacific External Debt Stock and Net Capital Flows to East Asia and Pacific, 2007–12 $ billion 2007

2008

2009

2010

2011

2012

746.7

775.3

883.3

1,080.6

1,286.6

1,412.4

298.4

208.2

259.0

529.6

546.4

485.8

6.5

3.6

4.1

7.1

6.0

4.8

Net equity inflows

231.4

203.6

184.7

331.5

346.6

351.6

Net FDI inflows

196.4

211.2

154.5

291.1

339.9

313.7

35.1

−7.6

30.2

40.3

6.7

37.9

67.0

4.6

74.3

198.1

199.8

134.2

Official creditors

–3.2

−0.4

3.9

4.0

−0.4

3.3

World Bank

−0.3

1.2

2.2

2.7

0.9

1.0

0.0

0.0

0.1

0.0

0.0

_0.1

70.2

5.0

70.4

194.1

200.2

130.9

17.2

18.3

5.4

45.2

55.0

74.2

2.6

2.7

9.5

28.1

30.6

45.7

Banks and other private

14.6

15.6

−4.2

17.1

24.4

28.6

Net short-term debt flows

52.9

−13.3

65.0

148.9

145.1

56.7

−538.6

−431.2

−513.9

−536.2

−393.2

−162.1

External Debt Stocks Net private and official inflows Percent of GNI (%)

Net portfolio equity inflows Net debt flows

IMF Private creditors Net medium- and long-term debt flows Bonds

Memorandum items Change in reserves (− = increase)

Sources: World Bank Debtor Reporting System, International Monetary Fund, and Bank for International Settlement.

In 2012, net capital flows to the region fell 11 percent to $486 billion, equivalent to 4.8 percent of the region’s gross national income (GNI), on account of a precipitous, 33 percent drop in net debt flows from the previous year. The downturn was driven primarily by the sharp contraction in short-term debt flows to China, which fell to $33 billion, less than a quarter of their 2011 level. Equity flows at $351 billion were largely unchanged from 2011, as an increase in portfolio equity flows (from $7 billion in 2011 to $38 billion in 2012) offset a 26 percent fall in foreign direct investment. Since 2007, China has absorbed 74 percent of net capital flows into the region, and at the end of 2012, it accounted for 54 percent of the combined external debt stock of the East Asia and Pacific countries. China is by far the largest recipient of non-debt flows to all developing countries: it accounted for about 40 percent of all such flows over the past five years. In 2012, the slowdown in GDP growth in China had a knock-on effect on capital inflows, in particular short-term

8

debt flows. They contracted to $33 billion (down from $129 billion the previous year), dictating both the global and regional trend, and bringing net debt flows to China down to just a little over one-quarter of their 2011 equivalent. Foreign direct investment flows also fell 10 percent from their 2011 peak, but the decline was more than offset by the $30 billion surge in portfolio equity flows, which resulted in an overall net equity flow that remained unchanged from their 2011 level. Other East Asia and Pacific countries saw net capital flows rise 36 percent in 2012 with net debt flows jumping 62 percent and equity flows up 11 percent over their 2011 level. Consistent with the trend in previous years, Indonesia received around one-third of net capital flows to countries in the region, excluding China. It recorded $ 51.5 billion in debt and non-debt flows in 2012, a 23 percent increase over the 2011 level. But Thailand was the main driver of the 2012 increase with net debt flows up fivefold, to $32 billion, and non-debt flows, primarily foreign direct investment, 55 percent higher than 2011. Although small


O V E R V I E W

Net Capital Flows to East Asian Countries, 2007–12 120 100

Percent

80 74

60

85

79

75

78

15

21

25

22

2008

2009

2010

2011

66

40 20

26

34

0 2007

Other East Asia and Pacific countries

2012

China

Sources: World Bank Debtor Reporting System and the International Monetary Fund.

Ratio of external debt stocks to GNI, exports and reserves, 2012 200 180 160

Percent

140 120 100 80 60 40 20 0 Debt stock to exports

Debt stock to GNI

East Asia and Pacific

Debt stock to total reserves

Other developing countries

Sources: World Bank Debtor Reporting System and the International Monetary Fund.

Trends in Net Capital Flows to East Asia and Pacific countries, 2007–12 300 250 US$ (billion)

in the regional context, Mongolia saw net debt flows skyrocket, to $2.6 billion, and external debt stock double as a result of bond issuance by publicand private-sector entities. Similarly, in Papua and New Guinea, net debt flows were up 157 percent because of long-term commercial bank financing to private-sector borrowers. Both public- and private-sector Asian borrowers profited from advantageous market conditions and investor appetite to issue almost $50 billion in bonds, an increase of 23 percent over 2011. The percentage share of issues by public- and private-sector borrowers, about 60 percent and 40 percent, respectively, was almost identical to 2011 with important shifts happening at the individual country level. Indonesia accounted for 45 percent of issuance by public sector borrowers in 2012. Public sector borrowers in China were absent from the markets, but in contrast, issuance by public sector borrowers in Thailand almost doubled to $9 billion, including domestically issued Thai bhat bonds purchased by nonresidents in search of attractive yields. Mongolia came to the market for the first time in November 2012 with a $1.5 billion 5- and 10-year note that was heavily oversubscribed. Chinese corporations accounted for the majority share of bond issuance by private-sector borrowers, at 54 percent, and those in Malaysia accounted for an additional 20 percent. Countries in the region have, on average, the lowest external debt burden in relation to GNI compared with all developing countries. The stock of external debt rose 10 percent in 2012, but the ratio of debt outstanding to GNI, 13.9 percent, was below half the comparable ratio of 29 percent for other developing countries. The ratio of debt to exports, 42.3 percent, was also among the lowest of any other region. East Asia and Pacific countries accumulated an additional $160 billion in international reserves in 2012. The reserves now stand at 36.5 percent, the level of outstanding external debt—a stark contrast to the much higher ratio of external debt stock to reserves of 189 percent in other developing countries.

200 150 100 50 0 –50 2007

2008

2009

2010

2011

2012

China, net equity inflows China, net debt flow Other EAP countries, net equity inflows Other EAP countries, net debt flow Sources: World Bank Debtor Reporting System and the International Monetary Fund.

9


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Europe and Central Asia External Debt Stock and Net Capital Flows to Europe and Central Asia, 2007–12 $ billion 2007

2008

2009

2010

2011

2012

External Debt Stocks

806.1

966.6

1,023.2

1,060.5

1,095.3

1,149.5

Net private and official inflows

263.6

249.9

104.3

105.9

126.1

112.7

Percent of GNI (%)

18.5

14.7

7.4

6.6

7.0

6.3

Net equity inflows

91.7

90.5

57.8

48.2

63.8

63.8

Net FDI inflows

88.2

91.0

54.1

44.5

64.5

55.8

3.5

−0.4

3.7

3.7

−0.7

8.0

171.9

159.3

46.5

57.7

62.2

48.8

Official creditors

−0.9

24.6

49.0

28.0

6.9

−6.9

World Bank

0.7

1.2

3.4

3.9

2.9

2.0

−5.0

12.8

25.5

9.0

−1.0

−13.0

172.8

134.8

−2.5

29.7

55.3

55.7

131.1

129.1

7.4

−11.8

41.3

46.8

Bonds

31.5

−3.2

−6.8

7.1

8.2

38.7

Banks and other private

99.6

132.3

14.2

−18.9

33.0

8.0

Net short-term debt flows

41.7

5.7

−9.9

41.6

14.1

9.0

−49.5

−5.6

−18.9

−21.8

−7.2

−9.1

Net portfolio equity inflows Net debt flows

IMF Private creditors Net medium- and long-term debt flows

Memorandum items Change in reserves (− = increase)

Sources: World Bank Debtor Reporting System, International Monetary Fund, and Bank for International Settlement.

Net capital flows to the region fell 11 percent in 2012 as a consequence of a downturn in net debt flows. These dropped to $49 billion in 2012, largely as a consequence of a $13 billion net outflow to the IMF as the rescue packages extended in the wake of the global economic and financial crisis were repaid. Net equity flows were broadly unchanged with a fall in foreign direct investment compensated by increased portfolio equity flows. Important changes to the composition of the Europe and Central Asia region in International Debt Statistics 2014 should be noted. The Russian Federation is excluded from the regional analysis because it is now classified as a high-income country. Conversely, Hungary has been reclassified from a high- to a middle-income country and is included in the regional aggregates. Net inflows to the region fell sharply in 2012 as new inflows declined while payments on emergency loans extended in response to the 2008 global economic and financial crisis rose appreciably. Countries in the region were among some of the hardest hit by the global economic and financial crisis. Thus, external support from official creditors, notably institutions like the

10

IMF and the World Bank, was essential for the creation of financial buffers and acted as a catalyst in addressing macro-economic imbalances. However, 2012 saw a sharp fall in net inflows from official creditors to –$7 billion in 2012, a sharp contrast to the $50 billion net inflow of 2009. Gross disbursements continued on a downward trajectory, falling by 20 percent in 2012, while those from the World Bank Group (IBRD and IDA) fell 16 percent, to $3.9 billion. In parallel, there was a sharp rise in repayments, especially with regard to the IMF, with an outflow of $13 billion in 2012; largely the result of repurchases (payments) by Hungary, Romania, Turkey, and Ukraine. Regional net debt inflows from private creditors were almost identical to their 2011 level, with a major change in composition of borrowers and loan instruments. Public- and privatesector entities across the region took advantage of lower borrowing costs and investor interest to issue international bonds totaling $50 billion in 2012, well more than double their 2011 level and equivalent to 22 percent of the 2012 international bond issuance by all developing countries.


O V E R V I E W

Bond Issuance, Public- and Private-Sector Borrowers, 2011–12 $ billion Public borrowers 2011

Albania Azerbaijan Bulgaria Belarus Georgia Hungary Kazakhstan Montenegro Romania Serbia Turkey Ukraine Total

0.1 0.0 0.0 0.8 0.5 6.3 0.0 0.2 2.1 1.0 4.8 2.8 18.6

Corporate borrowers

2012

2011

2012

0.0 0.5 1.2 0.0 0.3 11.2 2.3 0.0 5.1 1.8 7.9 4.9 35.1

0.0 0.0 0.0 0.0 0.0 0.0 0.8 0.0 0.1 0.0 2.1 1.6 4.5

0.0 0.0 0.2 0.0 1.0 4.7 1.8 0.0 0.0 0.0 7.0 0.0 14.7

Source: World Bank Debtor Reporting System.

Net Inflow of Foreign Direct Investment, 2011–12 Kazakhstan Turkey Hungary Ukraine Azerbaijan Other ECA countries 0

5

10

15

20

US$ (billion) 2012

2011

Source: International Monetary Fund.

Select Debt Ratios for Europe and Central Asia, 2007–12

Percent

Issuance by sovereign and public-sector borrowers rose to $35 billion, of which close to two-thirds was accounted for by Hungary, Romania, and Ukraine. Bulgaria came back to the market for the first time since 2002 with a $1.2 billion 5-year sovereign issue, and Serbia raised $1.8 billion in two offerings. In parallel, international bond issuance by private entities surged to $14.7 billion whereas long-term lending by commercial banks, particularly private-sector borrowers, fell sharply in 2012, in large part due to deleveraging by banks in the Euro Area. Sixty percent of net capital flows into the region in 2012 were in the form of foreign direct investment. While almost all countries in the region benefited from some investment flows, they were fairly heavily concentrated in five countries: Azerbaijan, Hungary, Kazakhstan, Turkey, and Ukraine, who together accounted for more than 75 percent of net foreign direct investment to the region in 2012. As in previous years, much of the investment in Kazakhstan, the largest recipient in 2012, and inflows into Hungary, slowed in response to economic uncertainties. Those to Turkey fell 20 percent but were offset by the surge in portfolio equity flows, which shot up to $6.3 billion, an all-time high and a marked turnaround from the –$1 billion outflow in 2011. Countries in Europe and Central Asia are the most indebted of those in any other region, but debt indicators have improved. The average ratio of external debt stock to GNI for the Europe and Central Asia countries at the end of 2012, 63.8 percent, was three times the comparable ratio for all developing countries combined. Similarly, external debt stock measured in relation to exports at the end of 2012 was double the developing country average at 144.7 percent. However, there has been a 12 percentage point reduction in the external debt stock to GNI ratio since 2009, and an even more pronounced improvement in the external debt stock to exports ratio over the same period, 23 percentage points. The principal drivers of growth and improved export earnings are the oil exporters, notably Kazakhstan and Turkey, followed by Hungary and Ukraine.

200 180 160 140 120 100 80 60 40 20 0 2007

2008

2009

2010

2011

2012

External debt stock to exports External debt stock to GNI

Debt service to exports

Sources: World Bank Debtor Reporting System and the International Monetary Fund.

11

25


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Latin America and the Caribbean External Debt Stock and Net Capital Flows to Latin America and the Caribbean, 2007–12 $ billion 2007

2008

2009

2010

2011

2012

External Debt Stock

782.3

831.1

866.3

1,000.9

1,133.5

1,257.9

Net private and official inflows

213.1

163.1

160.4

303.4

267.7

312.2

6.3

4.1

4.3

6.6

5.2

6.1

Net equity inflows

140.9

109.9

112.5

150.1

147.5

170.5

Net FDI inflows

112.5

121.5

71.2

110.9

145.0

150.3

28.4

−11.6

41.2

39.3

2.6

20.2

72.2

53.2

47.9

153.3

120.2

141.6

Official creditors

−1.0

6.4

17.2

22.6

4.9

11.8

World Bank

−0.2

2.5

6.2

8.3

−2.9

3.6

0.0

0.0

0.4

1.3

0.2

-0.1

Private creditors

73.2

46.8

30.7

130.7

115.3

129.8

Net medium- and long-term debt flows

51.7

44.2

38.6

84.8

121.2

117.5

Bonds

22.5

9.1

43.3

65.6

75.6

79.8

Banks and other private

29.2

35.1

−4.7

19.1

45.6

37.7

Net short-term debt flows

21.6

2.6

−7.9

45.9

−5.9

12.3

−136.1

−40.8

−46.3

−81.4

−87.9

−55.8

Percent of GNI (%)

Net portfolio equity inflows Net debt flows

IMF

Memorandum items Change in reserves (− = increase)

Sources: World Bank Debtor Reporting System, International Monetary Fund, and Bank for International Settlement.

Net capital flows to the region rose 17 percent in 2012, to $312 billion, equivalent to 6.1 percent of GNI (5.2 percent in 2011), and 28 percent of comparable flows to all developing countries. Debt and non-debt flows rose by broadly the same percentage, with changes in composition. The principal drivers were, for debt flows, the doubling of net inflow from official creditors and a sharp rise in short-term debt, and with regard to non-debt flows, the surge in portfolio flows. Equity flows accounted for 55 percent of net capital flows to the region in 2012, and for many countries in the region were the most important source of external financing. They rose by 16 percent in 2012, to $171 billion, of which almost 50 percent was directed to Brazil. Concomitant with the slowdown in growth, equity flows to Brazil rose only a moderate 4 percent in 2012. Despite the slowdown, Brazil remained the second most important developing country destination, after China, for foreign direct investment. However, foreign direct investment inflows rose sharply across the region, spurred by the presence of natural resources, a fast expanding middle-class, and inter-regional investments.

12

They were up 13 percent in Argentina, 17 percent in Colombia, 49 percent in Peru, and 76 percent in the Dominican Republic (to $3.9 billion), boosted by the acquisition of the country’s main brewery by the Belgian company Ambev for $1 billion. Among the major economies in the region, Mexico was the only one to see foreign direct investment decline in 2012. The foreign direct investment fell 34 percent in large part due to disinvestment by Banco Santander of Spain, where 25 percent of its share is its Mexican affiliate. But this decline was more than offset by the surge in portfolio equity and overall equity inflow to Mexico, which rose 50 percent in 2012. Net debt flows to Latin America and the Caribbean remained robust in 2012, despite slower growth in much of the region, rising by 18 percent, to $171 billion. This reflected a record pace of bond issuance and a rebound in shortterm debt flows. The region also had the sharpest increase among all regions in net debt flows from official creditors, up nearly 143 percent to $12 billion. This was in large part due to the turnaround in net inflows from the World Bank Group (IBRD and IDA), which increased to $3.6


O V E R V I E W

Net Debt and Equity Flows, Percentage Share, 2012 200 150 Percentage share

100 50 0 –50

M

zi l Br a

ex ic o

a bi om ol C

Ar g

en

Pe r

tin

u

a

–100 D om R in ep ic ub an lic

billion from an outflow of $2.9 billion in 2011. The principal driver was Mexico where net debt flows came close to doubling in 2012, to $84 billion, more than offsetting the 15 percent decline in net debt flows to Brazil and 43 percent fall in those to other countries in the region. Short-term debt flows returned to positive territory in 2012, rising to $12.3 billion, from an outflow of –$5.9 billion in 2011, but remained well below the $45.9 billion recorded in 2010. Here again the aggregate masks disparate trends at the individual country level, in particular, the direction of flows to the two largest economies. In the case of Brazil, shortterm flows continued to contract by an additional –$9.6 billion in 2012; in marked contrast, shortterm inflows to Mexico almost doubled from their 2011 level, to $21.3 billon. Public and private entities in Latin America and the Caribbean took advantage of low funding costs and strong investor demand and raised $103 billion through bond issuance in 2012, equivalent to 45 percent of bonds issued by all developing countries. The overall level of bond issuance in 2012 was only marginally higher than in 2011, but the aggregate figure masks important changes at the individual country level and with regard to the type of issuer. Mexico remained by far the largest borrower with total issuance of $73 billion, a little more than 70 percent of the regional bond issuance in 2012 (up from 62 percent in 2011). Public sector borrowers accounted for close to 60 percent of this, much the same as in 2011, including a large component of domestically issued government bonds purchased by nonresidents in search of attractive yields. Issuance by Mexican corporations also jumped over 70 percent in 2012 across all sectors, but led by Mobil Corporation. In sharp contrast, bond issuance by Brazil was down 71 percent, primarily on account of Brazil’s private sector, which after considerable activity in 2011, was largely absent from the market, reflecting both their prior borrowing and the country’s economic downturn.

Net equity inflows

Net debt flows

Sources: World Bank Debtor Reporting System and the International Monetary Fund.

Net Short-term Debt Inflows to Select Countries in Latin America and the Caribbean, 2011–12 Mexico Peru Venezuela, RB de Colombia Argentina Brazil –30

–20

10 –10 0 US$ (billion) 2011

20

30

2012

Sources: Bank for International Settlements and national authorities.

Bond Issuance, Public- and Private-Sector Borrowers, Latin America and the Caribbean 2011–12 $ billion Public-sector borrowers

Private-sector borrowers

2011

2012

2011

2012

Brazil

3.6

6.6

30.8

8.8

Colombia

2.6

2.3

2.7

2.6

26.8

41.7

18.1

31.0

Peru

0.0

0.9

1.7

3.0

Other

9.4

2.5

1.8

3.3

42.5

53.9

55.1

48.7

Mexico

Total LAC countries

Source: World Bank Debtor Reporting System.

13


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Middle East and North Africa External Debt Stock and Net Capital Flows to the Middle East and North Africa, 2007–12 $ billion 2007

2008

2009

2010

2011

156.3

148.7

160.6

166.6

162.9

177.1

30.1

23.8

30.9

31.4

10.2

32.7

Percent of GNI (%)

3.9

2.6

3.3

..

..

..

Net equity inflows

26.0

30.0

27.5

24.2

13.0

18.0

Net FDI inflows

28.1

29.6

26.3

22.3

13.7

19.3

Net portfolio equity inflows

−2.1

0.4

1.2

2.0

−0.6

−1.3

4.1

−6.2

3.4

7.1

−2.8

14.7

Official creditors

1.2

−1.7

2.5

1.3

1.2

4.8

World Bank

1.0

−0.3

0.9

0.8

0.9

0.8

−0.1

−0.1

−0.1

0.0

−0.1

0.5

2.9

−4.4

0.9

5.9

−4.0

9.9

−0.5

−2.5

−2.1

1.4

−1.5

6.0

0.7

−0.8

0.1

3.2

−0.6

5.8

Banks and other private

−1.2

−1.7

−2.2

−1.8

−0.8

0.1

Net short-term debt flows

3.3

−1.9

3.0

4.5

−2.6

4.0

−44.1

−42.8

−19.9

−17.9

23.8

−4.6

External Debt Stocks Net private and official inflows

Net debt flows

IMF Private creditors Net medium- and long-term debt flows Bonds

2012

Memorandum items Change in reserves (− = increase)

Sources: World Bank Debtor Reporting System, International Monetary Fund, and Bank for International Settlement. Note: .. = not available.

Net capital inflows rose by 220 percent in 2012, far faster than any other region, to an all time high of $32.7 billion. Driving this was the spectacular turnaround in net debt flows that climbed to $14.7 billion, more than double their previous 2008 peak and a marked contrast to the –$2.8 billion outflow in 2011. The key elements were sovereign bond issuance by several countries in the region, a fourfold increase in net flows from official creditors, and an expansion in short-term debt. Non-debt flows, notably foreign direct investment, regained momentum and were up close to 40 percent from their 2011 level. The combined net debt flows to the four largest borrowers in the region, the Arab Republic of Egypt, Lebanon, Morocco, and Tunisia, of $16.5 billion, were more than five times their 2011 level. Egypt saw the most spectacular rise, a $6.9 billion turnaround from the net debt outflow that was recorded in 2011, but net debt flows to Lebanon and Tunisia also surged. There was, however, wide divergence in the pattern of financial instruments used across countries. In Egypt, net debt inflow in 2012 was composed entirely of short-term debt inflows, about 72 percent,

14

and the rest from official creditors, primarily bilateral inflows from Saudi Arabia. In contrast, almost 90 percent of net debt flows in Lebanon came from bonds issued in international capital markets, partly to refinance upcoming maturities. Morocco returned to the international bond market in 2012 with a $1.5 billion sovereign bond that combined a 10-year and a 30-year note, and was heavily oversubscribed. Tunisia successfully issued its first bond since the Arab uprising in July, 2012—$485 million guaranteed by the U.S. Agency for International Development. Net equity flows, primarily foreign direct investment, rose over 40 percent in 2012 with the majority of countries in the region recording higher inflows. The Islamic Republic of Iran was the single largest recipient, receiving on average 28 percent of foreign direct investment into the region in 2011–12, primarily into the hydrocarbon sector. However, but the most pronounced rises were in Egypt and, to a lesser extent, Tunisia. The net inflow of net foreign direct investment to Egypt jumped to $2.8 billion in 2012, from 2011, but remained far short of its precrisis peak of $11.6 billion in 2007. Tunisia also saw foreign direct


O V E R V I E W

investment rebound in 2012 to a net inflow of $1.6 billion, close to four times its 2011 level. External debt stocks, in relation to export earnings, were the lowest of any region in 2012. They averaged 42.1 percent at the end of 2012, compared with 74 percent in other developing countries. This outcome is the result of a very high share of non-debt capital flows to the region and relatively robust export earnings. Debt service payments absorbed only a moderate 5.1 percent of export earnings, almost half the average of 9.9 percent in other developing countries. International reserves stood at 158 percent of external debt stocks at the end of 2012, but the regional aggregate was heavily weighted by Algeria’s high level of international reserves and low external debt level. In contrast, Egypt, which accounted for nearly one-quarter of the external debt stock of the region at the end of 2012, has international reserves equivalent to 29 percent of outstanding external debt.

Net Foreign Direct Investment Inflows to Major Recipients, 2011–12 Iran, Islamic Rep. Lebanon Morocco Egypt, Arab Rep. Algeria Tunisia Jordan Yemen, Rep. –1

0

1

2

3

4

5

6

US$ (billion) 2012 2011 Source: International Monetary Fund.

Ratio of External Debt and Debt Service to Exports, 2007–12 100 90 80

Net Debt Flows to Select Countries, 2011–12

US$ (billion)

6

Percent

70 60 50

5

40

4

30

3

20

2

10

1

0 2007

0

2008

2009

2010

2011

2012

Debt service to exports

–1 Egypt, Arab Lebanon Rep. Short-term Bonds

Morocco

Tunisia

Debt stock to exports, MENA Debt stock to exports

Other long-term Official creditors

Source: World Bank Debtor Reporting System.

Debt service to exports, MENA Sources: World Bank Debtor Reporting System and the International Monetary Fund.

15


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

South Asia External Debt Stock and Net Capital Flows to South Asia, 2007–12 $ billion

External Debt Stock

2007

2008

2009

289.2

2010

2011

2012

409.8

322.7

363.1

461.8

501.5

115.8

64.6

89.9

107.0

84.7

96.1

Percent of GNI (%)

7.7

4.2

5.3

5.2

3.7

4.2

Net equity inflows

66.4

35.1

63.6

61.1

36.1

50.8

Net FDI inflows

32.5

50.9

39.5

31.2

40.4

27.4

Net portfolio equity inflows

34.0

−15.8

24.1

29.9

−4.3

23.4

49.4

29.6

26.3

45.9

48.6

45.3

Official creditors

4.4

8.8

11.0

10.8

6.6

4.0

World Bank

2.0

1.4

2.4

3.3

2.0

0.9

−0.1

3.1

3.6

2.0

0.0

−1.6

Private creditors

44.9

20.7

15.4

35.0

42.0

41.3

Net medium- and long-term debt flows

32.0

12.9

12.7

23.3

19.3

27.9

Bonds

10.7

1.7

1.9

10.1

0.7

5.1

Banks and other private

21.3

11.2

10.9

13.2

18.5

22.8

Net short-term debt flows

12.9

7.9

2.6

11.7

22.7

13.4

−101.1

24.0

−30.1

−16.6

4.8

−0.2

Net private and official inflows

Net debt flows

IMF

Memorandum items Change in reserves (− = increase)

Sources: World Bank Debtor Reporting System, International Monetary Fund, and Bank for International Settlement.

The region saw net capital inflows rise by 13 percent in 2012, equivalent to 4.2 percent of GNI (versus 3.7 percent in 2011) because of an increase in portfolio equity flows of $28 billion. These offset the slowdown in foreign direct investment and pushed non-debt flows up by 41 percent over their 2011 level. In contrast, a sharp contraction in short-term debt flows overshadowed the rise in long–term debt flows from private creditors and pulled total net debt flows down by 7 percent in 2012. India has absorbed 95 percent of net capital flows into the region since 2007. In 2012 India’s share was $91 billion, fairly evenly divided between debt and non-debt flows. The level of net debt flows was broadly unchanged from 2011, but the composition of debt by maturities changed. A 29 percent fall in short-term debt flows was offset by new long-term financing, primarily from bond issuance by public sector entities (up fourfold from 2011) and a 30 percent increase in net long-term flows from commercial banks to private-sector borrowers, often supported by an export credit guarantee. Even though foreign

16

direct investment flows fell by a third in 2012 to $24 billion, their lowest level since 2005, India remained the third most important developing country destination for investment flows, after Brazil and China. The downturn was additionally offset by a significant turnaround in portfolio equity flows of $28 billion, which pushed 2012’s total non-debt flows up by 44 percent from their 2011 level. Countries in the region are relatively poor: with the exception of Sri Lanka, all are IDAeligible countries, but official creditors account for a small share of net debt flows. In the wake of the global economic and financial crisis, debt related flows from official creditors, including from the IMF, averaged $11 billion in 2009–10. This accounted for about 60 percent of net debt flows to the public sector and close to one-third of total net debt flows. Thereafter they have been on a declining trajectory and by 2012 had fallen to $4 billion, their lowest level since 2005, less than 9 percent of net debt flows. An important element was the $2.3 billion IMF repurchase (payment) by Pakistan in the context of the Standby Agreement


O V E R V I E W

Net Debt Flows from Official Creditors, 2007–12 12 10 8 US$ (billion)

concluded in 2008. Net outflows from Pakistan to IBRD ($82 million) and from India to IDA ($250 million) lowered net inflows to the region from the World Bank Group (IBRD and IDA) by 56 percent, compared with 2011. Regional aggregates mask an increase in bilateral flows in 2012, principally to Bangladesh and Sri Lanka. External debt stocks at the end of 2012, measured in relation to exports and to GNI, remained moderate, 93.7 percent and 21.9 percent, respectively. However, the regional averages mask important differences between countries. The external debt to export ratio ranged from 83.5 percent in India to 194.3 percent in Pakistan; and the external debt to GNI ratio ranged from 20.8 percent in India to 43.6 percent in Sri Lanka. Similarly for India, international reserves stood at 71.4 percent of external debt stocks at the end of 2012, compared with 16.6 percent in Pakistan.

6 4 2 0 –2 2007

2008

SAS

2009

2010

India

2011

2012

Pakistan

Other

Source: World Bank Debtor Reporting System.

Ratio of External Debt Stocks to GNI and Exports, 2012 250

India, Composition of Net Capital Flows, 2011–12

200

US$ (billion) 2011

Sources: World Bank Debtor Reporting System and the International Monetary Fund.

ia As

ka

ut h So

an st

iL Sr

ki

an

al

s ve

ep N

ad

External debt stock to GNI

2012

Pa

40

di

ta is

30

ng l

20

Ba

an

10

gh

0

Af

–10

di

0

In

Foreign direct investment

al

50

n

Portfolio equity flows

a

100

M

Long-term debt flows

150

es Bh h ut an

Percent

Short-term debt flows

External debt stock to exports

Sources: World Bank Debtor Reporting System and the International Monetary Fund.

17


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Sub-Saharan Africa External Debt Stock and Net Capital Flows to Sub-Saharan Africa, 2007–12 $ billion 2007

2008

2009

2010

2011

2012

213.0

217.7

245.7

269.1

297.6

331.2

58.1

46.6

56.5

59.5

62.9

73.6

Percent of GNI (%)

7.2

5.1

6.4

5.6

5.3

6.1

Net equity inflows

40.6

38.7

48.2

40.4

39.0

46.4

Net FDI inflows

30.4

44.3

37.7

32.2

40.0

37.0

Net portfolio equity inflows

10.2

−5.6

10.5

8.2

−1.0

9.4

17.6

7.9

8.3

19.1

23.9

27.2

Official creditors

2.7

5.0

10.2

13.5

12.8

11.0

World Bank

2.4

1.9

3.1

4.0

3.2

3.9

IMF

0.1

0.7

2.2

1.2

1.4

0.9

14.8

2.8

−1.9

5.6

11.1

16.2

External Debt Stock Net private and official inflows

Net debt flows

Private creditors Net medium- and long-term debt flows

8.8

0.9

3.6

2.6

9.5

8.2

Bonds

7.5

−1.6

2.0

1.4

6.0

3.6

Banks and other private

1.3

2.5

1.6

1.2

3.4

4.6

Net short-term debt flows

6.0

1.9

−5.5

3.0

1.6

8.0

−29.1

−10.4

−3.7

0.5

−16.1

−21.0

Memorandum items Change in reserves (− = increase)

Sources: World Bank Debtor Reporting System, International Monetary Fund, and Bank for International Settlement.

Net capital flows to Sub-Saharan Africa rose 17 percent in 2012, primarily as a consequence of a sharp rise in portfolio equity flows to Nigeria and a surge in short-term debt inflows to South Africa. Almost two-thirds of the $74 billion 2012 inflows constituted non-debt flows. Net capital flows as a share of GNI increased to 6.1 percent (5.3 percent in 2011), and to almost 7 percent, excluding South Africa. In 2012, just two countries, Nigeria and South Africa, absorbed 45 percent of net capital flows to Sub-Saharan Africa. Even though it saw the net inflow of foreign direct investment fall by 20 percent compared with its 2011 level, Nigeria received the highest share, over one-third, of net equity flows into the region in 2012, mostly to the hydrocarbon sector. This was more than offset by the surge in portfolio equity flows, which totaled $10 billion in 2012, due to investors increasingly attracted by the country’s economic prospects. Nigeria is the only developing country in SubSaharan Africa where portfolio equity flows have been on a continuous upward trajectory since the global financial and economic crisis. In contrast,

18

the 142 percent jump in net capital flows to South Africa in 2012 was largely debt-related. Net debt flows jumped to $11.7 billion, from $4.4 billion in 2011—mostly due to an increase in short-term debt flows, which surged to $7.3 billion from an outflow of $1.2 billion in 2011. Net debt flows to countries in Sub-Saharan Africa, other than South Africa, declined by 21 percent in 2012. The reason for the downturn lay in the sharp 75 percent contraction in short-term debt flows and a 23 percent fall in net inflows from official creditors, on which many countries in the region depend. In addition, inflows from private creditors fell by 18 percent over their 2011 level. Net inflows from multilateral creditors constituted over two-thirds of official flows, with IDA being by far the most important creditor. It provided $3.3 billion to the region in 2012 in net concessional loans, equivalent to half of all net multilateral debt inflows, and an additional $1.4 billion in grants. Inflows from IDA were heavily concentrated with 50 percent going to three countries, Ethiopia, Nigeria, and Tanzania. Most bilateral debt inflows came from nontraditional developing


O V E R V I E W

Net Capital Flows to Sub-Saharan Africa, 2007–12 80 70 US$ (billion)

60 50 40 30 20 10 0 2007

2008

2009

South Africa

2010

2011

Other SSA

2012

Nigeria

Sources: World Bank Debtor Reporting System and the International Monetary Fund.

Net Debt Flows to Sub-Saharan Africa, excluding South Africa, 2007–12 14 12 10 US$ (billion)

country creditors, notably China and, to a lesser extent, Brazil and India. The bulk of these inflows were directed at large-scale infrastructure projects and half of net inflows in 2012 was concentrated in four countries: Ethiopia, Ghana, Mozambique, and Senegal. Long-term inflows from private creditors rose 19 percent, to $5.2 billion, of which the largest share went to private-sector borrowers. Inflows to public-sector borrowers were largely confined to East Africa: Zambia joined the ranks of countries in the region to tap international bond markets with a $750 million debut issue that was 15 times oversubscribed, and Kenya raised $600 million for infrastructure financing through a syndicated bank loan. Foreign direct investment has become the most important element of net capital flows for countries across the region, accounting for 55 percent of net capital inflows in 2012, excluding South Africa. In 2012 they were again boosted by high commodity prices, the wealth of natural resources across the continent, and relatively high levels of return on investment. A large share of foreign direct investment inflows went to the hydrocarbon and other extractive sectors in Nigeria, the single largest recipient. The region also experienced a jump in investment in largescale infrastructure projects. In some of the large economies like Ghana and Nigeria, demographic changes, such as a growing middle class, resulted in an increasing share of investment flows directed to consumer-oriented manufacturing and rapidly expanding consumer service sectors. Debt indicators have improved significantly since 2000 due to economic reforms, a favorable external environment, increased aid, and debt restructuring and debt relief. External debt stocks at the end of 2012 were 71.5 percent of exports and 27.2 percent of GNI, a marginal deterioration from 63.3 percent and 25.2 percent, respectively in 2011. Two more countries in the region, Côte d’Ivoire and Guinea reached the HIPC Completion Point in 2012 and received around $6.3 billion in debt relief under the HIPC and Multilateral Debt Relief Initiative and additional debt relief from bilateral, Paris Club creditors.

8 6 4 2 0 –2 2007

2008

2009

2010

Official creditors Private long-term debt

2011

2012

Short-term debt

Source: World Bank Debtor Reporting System.

Net Inflow of Foreign Direct Investment to Select Countries, 2011–12 Nigeria Mozambique Ghana Congo, Dem. Rep. Congo, Rep. Sudan Uganda Tanzania Liberia Mauritania Zambia 0

2

4

6

US$ (billion)

2012 Source: International Monetary Fund.

19

2011

8

10


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

The external debt stock of high-income countries rose moderately in 2012, and the maturity structure improved, although short-term debt, as a share of total external debt, 42 percent, remained high. The total external debt stock (measured on a gross basis) for high-income countries2 reporting to the Quarterly External Debt Statistics (QEDS) database rose 3 percent in 2012, to $66.7 trillion, much slower than the 5 percent increase recorded in 2011, and considerably less than the 9 percent rise in the external debt stock of developing countries in the same period. Most of the increase in

high-income countries’ external debt stock was driven by the rise in the debt of the general government, particularly in France, Germany, Greece, Italy, Spain, and the United States. Together these six countries accounted for just over three-quarters of the $1.4 trillion rise in external debt owed by governments of high-income countries. In 2012, there was a perceptible shift toward long-term debt, which increased to 58 percent of total external debt, up from 55 percent the previous year. External debt, measured relative to GDP, is on average very high, and the situation worsened in 2012. Additional borrowing in 2012, coupled with the slow growth in output, led to an increase in the level of external debt relative to GDP in most of the high income countries; on average, the level was 143 percent in 2012 compared with 138 percent in 2011. There was, however, a wide disparity between countries that ranged from upward of 230 percent of GDP in the case of Finland, Greece, and Portugal, to below 40 percent for the least indebted countries like Israel, the Republic of Korea, and Russia. (figure II.1). The Group of Seven (G7) countries together owed almost two-thirds of the external debt of high-income countries: $43 trillion at the end of 2012 (see table II.1). As a group, they saw debt rise much more slowly than the average for other highincome countries in 2012, 1.1 percent as compared to 7.6 percent, and at a much slower pace than the 5 percent rise recorded in 2011. There was, however, wide disparity at the individual country level. Canada had the sharpest increase in external debt in 2012, 11.7 percent, followed by Germany and Italy, 7 percent. A more moderate increase was recorded by France and the United States, 3.8 percent and 1.1 percent, respectively, while in Japan and the United Kingdom, the stock of external debt contracted: 3.2 percent and 5.1 percent, respectively. The combined stock of external debt of G7 countries was 127 percent of GDP at the end of 2012, virtually unchanged from the previous year, with improvements in some countries offsetting the deterioration in others (see figure II.2).

2. High-income countries reporting to the SDDS QEDS database include: Australia; Austria; Belgium; Canada; Chile; Croatia; Czech Republic; Denmark; Estonia; Finland; France; Germany; Greece; Hong Kong SAR, China; Iceland; Ireland; Israel; Italy; Japan; Republic of

Korea; Latvia; Lithuania; Luxembourg; Malta; Netherlands; New Zealand; Norway; Poland; Portugal; the Russian Federation; Singapore; Slovak Republic; Slovenia; Spain; Sweden; Switzerland; United Kingdom; United States; and Uruguay.

II. Quarterly External Debt Statistics About the data The Quarterly External Debt database (QEDS) was developed jointly by the International Monetary Fund and the World Bank in the wake of the 1997 Asian crisis, in response to the widespread demand for comprehensive and readily available high frequency data to facilitate macroeconomic analysis and cross-country data comparisons at the global level. The data are compiled and classified in accordance with the International Monetary Fund Special Data Dissemination Standard (SDDS) or General Data Dissemination Standard (GDDS). They provide quarterly information on the stock of outstanding external liabilities, categorized by maturity as well as by borrowing entity and instrument. Reporting is voluntary, but to date 70 countries have agreed to participate in the SDDS/QEDS database, of which 69 countries currently provide data. An additional 48 countries have agreed to participate in the GDDS/QEDS database, of which 43 countries have thus far reported. Unlike the World Bank Debtor Reporting System, to which countries borrowing from IBRD and IDA are obligated to report, QEDS is open to any country, developing or high-income, that accepts the reporting standards and agrees to participate: 41 of the countries currently providing data to the QEDS are high-income countries.

Trends in 2012 External Debt of High-Income Countries

20


O V E R V I E W

Figure II.1. Selected High-Income Countries, External Debt to GDP Ratio, 2010–12

Figure II.2. G7 Countries, External Debt to GDP Ratio, 2008–12

Portugal

450

Finland

400

Greece 350

France Austria

300 Percent

Sweden Denmark Spain

250 200

Germany 150

Norway Latvia

100

Slovenia 50

Italy New Zealand

0 2008

Croatia Estonia

2009

2010

2011

2012

G7 countries

United States

United States

United Kingdom

Australia Lithuania Slovak Rebublic Poland

France

Canada

Germany

Japan

Italy

Canada

Source: World Bank Quarterly External Debt Statistics Database.

Czech Republic Japan

The United Kingdom saw the most significant change with the ratio of external debt to GDP falling to 388 percent, from 407 percent in 2011, and there was a marginal improvement in Japan and in the United States. Conversely, France, Germany, and Italy all saw a marked jump in their external debt burden relative to GDP in 2012. The United Kingdom has far and away the highest level of external debt to GDP among G7 countries, but the external debt of France moved above 200 percent in 2012, and that of Germany climbed to 168 percent.

Chile Uruguay Israel Korea, Rep. K Russian Federation 0

50

100 150 200 Percent 2011 2010 2012

250

Source: World Bank Quarterly External Debt Statistics Database.

Table II.1. G7 Countries, External Debt Stock, 2008–12 $ billion 2008

Canada

2009

2010

2011

2012

839.6

998.7

1,105.8

1,191.5

1,331.3

France

4,879.5

5,164.3

5,145.2

5,172.7

5,370.7

Germany

5,123.4

5,110.3

5,227.6

5,332.8

5,716.5

Italy

2,395.3

2,551.2

2,435.2

2,349.7

2,516.0

Japan

2,230.6

2,086.4

2,588.6

3,115.2

3,016.8

United Kingdom

9,106.7

9,409.5

9,483.0

9,960.6

9,457.2

United States

13,749.6

13,661.8

14,516.5

15,508.2

15,680.5

Total G7 countries

38,324.8

38,982.2

40,501.8

42,630.6

43,089.0

Source: World Bank Quarterly External Debt Statistics Database. Note: G7 = Group of Seven (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States).

21


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Trends in 2012

III. Public Sector Debt About the Data The global economic and financial crisis of 2008 revealed the absence of transparent and comprehensive data on public sector debt (both domestic and external). Without this data, it is difficult to assess and anticipate fiscal risk and the impact of financial shocks on macroeconomic outcomes and costs to the public sector. To address and rectify these shortcomings, the Inter-Agency Group (IAG) recommended the creation of a public sector debt database consistent with the methodological framework of the Public Sector Debt Statistics Guide for Compilers (GFSM 2001, SNA 2008). As part of the Open Data Initiative, the World Bank, in partnership with the IMF, launched an online, quarterly, Public Sector Debt database in December 2010. It aims to address the demand for comprehensive, high frequency data measuring countries’ government and public sector debt obligations, domestic and external, to complement the external debt information captured through the World Bank Debtor Reporting System (DRS) and the joint IMF–World Bank Quarterly External Debt Statistics (QEDS). Currently, 72 developing and high-income countries report to the Public Sector Debt database. The Public Sector Debt database provides data on debt of both the central government and the broad public sector and includes the maturity structure.

Government debt levels in many advanced economies continued to rise in 2012 despite programs of fiscal austerity and, in some cases, debt restructuring. This rise is clearly illustrated by the European Union (EU), where the persistence of the economic slowdown throughout 2012, and the fiscal measures to contain the economic and social impact, impeded efforts to rein in public debt levels. Twelve of the EU-15 countries saw the level of government debt rise, or remain static, relative to GDP in 2012 (see table III.1). The average government debt to GDP ratio rose to 79.5 percent (it was 75.9 percent in 2011), and two-thirds of these countries had a government debt to GDP ratio above 60 percent. High government debt levels were not restricted to countries in the Euro zone. Japan recorded a government debt to GDP ratio of 195 percent at the end of 2012, while in the United States and the United Kingdom, it stood at 94 percent and 89 percent, respectively. The four most heavily indebted European countries, Greece, Ireland, Italy, and Portugal, had a government debt to GDP ratio of 120 percent or more in 2012. Moreover, with the exception of Greece, debt levels in these countries continued on a rising trajectory. Ireland has experienced the sharpest rise in government debt, from a precrisis level of 28 percent of GDP in 2007 to 120 percent in 2012. Over the same period, Portugal’s

Table III.1 EU-15, Government Debt to GDP, 2007–12 Percent

Luxembourg

2007

2008

2009

2010

2011

2012

5

13

14

18

17

19

Sweden

39

36

40

37

35

34

Denmark

24

30

36

39

43

41

Finland

32

31

39

44

45

48

Germany

40

41

45

53

51

51

Netherlands

44

57

59

61

62

68

Austria

56

60

65

66

66

68

Spain

32

35

49

55

61

77

France

56

60

69

72

74

80

United Kingdom

43

52

68

79

85

89

Belgium

82

87

91

91

93

94

Italy

97

100

109

112

114

120

Ireland

28

47

67

94

108

120

Portugal

69

72

85

96

108

125

107

112

129

153

177

158

Greece

Source: World Bank Public Sector Debt Database.

22


O V E R V I E W

Figure III.1 Government Debt to GDP, 2007–12 180

Figure III.3 Government Debt, Currency Composition 100

160 140

75 Percent

Percent

120 100 80

50 25

60 40

0 China

20 0

Ireland

Portugal 2007 2010

Italy 2008 2011

Greece

2009 2012

Figure III.2 Government Debt to GDP, 2009 and 2012 80 70

Percent

60 50 40 30 20 10 0 Brazil 2009

Turkey

South Africa

Domestic currency

Mexico

Turkey

Foreign currency

Source: World Bank Public Sector Debt Database.

Source: World Bank Public Sector Debt Database.

India

Brazil

China

2012

Source: World Bank Public Sector Debt Database.

government debt rose from 69 percent to 125 percent of GDP. Italy entered the crisis with an elevated level of government debt, which has continued to rise in each successive year. In Greece, restructuring in late 2011 and early 2012 reduced the level of government debt, but it remained the highest of all EU-15 countries at the end of 2012, 158 percent (see figure III.1). Government debt to GDP levels in developing countries are, on average, much lower than those of high-income countries, and on a downward trajectory. For developing countries reporting to

the Public Sector Debt database, the government debt to GDP ratio ranged from 10 percent to 70 percent in 2012 and was, in most instances, lower than the comparable ratio for 2008. At the upper end of the spectrum, Brazil and India saw government debt fall from 60 percent and 74.7 percent of GDP, respectively, in 2009 to 56.7 percent and 68.5 percent, respectively, in 2012. In Turkey, the comparable ratio fell from 46.3 percent in 2009 to 37.6 percent in 2012, and at the lower end, China has seen its government debt fall from 17.7 percent to 14.9 percent of GDP over the same period (see figure III.2). In developing countries, a remarkable feature of the past few years has been the substantial jump in the domestic currency component of government debt. As options for borrowing in domestic markets have expanded, governments in developing countries have looked to debt issued in domestic currency as a mechanism to reduce exposure to exchange rate fluctuations and to correct currency and maturity mismatches. Brazil and China now raise virtually all (on average 98 percent) of central government financing requirements in domestic markets, and countries like Mexico, South Africa, and Turkey also finance a comparable share of central government financing in domestic markets. At the end of 2012, the domestic currency component of the central government debt of developing countries reporting to the Public Sector Debt database averaged 57 percent of the total, after excluding Brazil and China (see figure III.3).

23


Summary Tables

25


S U M M A R Y

Summary Table 1. Present Value of Debt, 2012

Country name

Afghanistan Albania Algeria Angola Argentina Armenia Azerbaijan Bangladesh Belarus Belize Benin Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil Bulgaria Burkina Faso Burundi Cambodia Cameroon Cape Verde Central African Republic Chad China Colombia Comoros Congo, Dem. Rep. Congo, Rep. Costa Rica Côte d’Ivoire Djibouti Dominica Dominican Republic Ecuador Egypt, Arab Rep. El Salvador Eritrea Ethiopia Fiji Gabon Gambia, The Georgia Ghana Grenada

Total external debt stocks $ million

2,709 6,934 5,643 22,171 121,013 7,608 9,712 26,130 34,173 1,241 2,055 1,459 6,909 10,577 2,488 440,478 50,750 2,506 663 5,716 3,672 1,261 552 1,831 754,009 79,051 251 5,651 2,829 14,458 9,871 808 284 16,851 16,931 40,000 13,279 994 10,462 732 2,870 513 13,426 12,436 591

Present value of external Ratio of present value of Ratio of present value of debt debt to exports debt to GNI $ million (%) (%)

668 5,556 3,389 19,147 101,478 5,886 11,469 15,908 29,254 952 365 1,216 1,840 8,028 1,629 390,445 46,321 769 310 3,985 1,762 695 682 231 734,316 68,403 157 3,868 1,906 12,698 3,471 540 203 13,433 13,757 32,487 11,314 567 2,618 539 2,322 93 12,041 2,959 681

16 146 4 27 103 157 30 57 55 91 .. 171 15 139 25 133 133 .. 130 46 23 88 .. .. 32 97 .. 44 .. 95 .. 111 103 107 52 67 184 .. 44 .. .. 27 170 18 341

.. 43 .. 19 22 56 19 13 47 .. 5 73 7 46 12 18 94 7 13 30 7 37 32 2 9 19 26 24 18 29 15 .. 44 24 17 13 50 19 6 14 14 11 77 8 91 (table continues next page)

27

T A B L E S


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Summary Table 1. Present Value of Debt, 2012 (continued)

Country name

Guatemala Guinea Guinea-Bissau Guyana Haiti Honduras Hungary India Indonesia Iran, Islamic Rep. Jamaica Jordan Kazakhstan Kenya Kosovo Kyrgyz Republic Lao PDR Lebanon Lesotho Liberia Macedonia, FYR Madagascar Malawi Malaysia Maldives Mali Mauritania Mauritius Mexico Moldova Mongolia Montenegro Morocco Mozambique Myanmar Nepal Nicaragua Niger Nigeria Pakistan Panama Papua New Guinea Paraguay Peru Philippines Romania

Total external debt stocks $ million

14,975 1,097 279 1,974 1,154 4,987 203,757 379,099 254,899 11,477 14,333 18,632 137,014 11,569 2,002 6,026 6,372 28,950 860 487 6,678 2,896 1,314 103,950 1,027 3,073 3,348 4,459 354,897 6,135 5,080 2,833 33,816 4,788 2,563 3,818 8,858 2,340 10,077 61,867 12,294 23,128 6,331 54,148 61,390 131,889

Present value of external Ratio of present value of Ratio of present value of debt debt to exports debt to GNI $ million (%) (%)

12,466 889 232 849 166 773 166,449 324,340 226,355 7,607 13,625 17,004 114,443 7,833 982 4,446 4,595 26,575 510 215 6,025 1,163 1,306 94,789 806 750 865 3,934 320,189 5,325 3,694 2,468 28,089 2,980 903 2,351 4,602 896 4,330 46,279 10,297 19,061 5,421 49,847 52,331 111,675

28

97 42 .. 49 15 12 132 71 106 .. 290 119 116 70 66 140 158 90 31 .. 133 .. 93 34 34 .. 30 52 80 139 68 125 85 58 .. 108 92 .. 4 145 35 .. 43 97 87 173

25 14 78 30 2 5 142 18 27 .. 95 55 66 21 15 73 53 63 19 13 63 12 32 32 43 8 21 37 28 68 39 59 30 20 .. 12 45 14 2 19 26 127 23 27 25 67


S U M M A R Y

Summary Table 1. Present Value of Debt, 2012 (continued)

Country name

Rwanda Samoa São Tomé and Príncipe Senegal Serbia Seychelles Sierra Leone Solomon Islands Somalia South Africa Sri Lanka St. Lucia St. Vincent and the Grenadines Sudan Swaziland Syrian Arab Republic Tajikistan Tanzania Thailand Togo Tonga Tunisia Turkey Turkmenistan Uganda Ukraine Uzbekistan Vanuatu Venezuela, RB Vietnam Yemen, Rep. Zambia Zimbabwe

Total external debt stocks $ million

1,269 423 202 4,900 34,438 2,024 1,121 228 3,055 137,501 25,382 473 267 21,840 460 4,736 3,648 11,581 134,223 754 197 25,475 337,492 492 3,769 135,067 8,853 369 72,097 59,133 7,555 5,385 7,713

Present value of external Ratio of present value of Ratio of present value of debt debt to exports debt to GNI $ million (%) (%)

905 245 163 679 29,178 1,872 889 148 3,814 68,480 19,287 363 179 25,583 373 4,098 2,611 2,818 112,750 315 129 21,192 307,872 347 1,429 124,585 6,579 316 69,381 46,519 4,445 3,476 7,509

88 98 529 .. 182 2693 66 22 .. 60 140 60 89 564 16 .. 155 32 40 .. 159 94 145 .. 30 133 .. 76 68 37 .. 35 ..

.. 38 62 5 80 190 23 21 .. 18 33 31 26 47 11 6 38 10 32 9 27 49 39 1 9 72 12 41 19 35 13 18 83

Note: GNI = gross national income; .. = not available. For definition of indicators, see “About the Data” section at the back of the book. Country names in bold italics are based on the latest available Debt Sustainability Analysis for Low-Income Countries (LIC DSA) and include the effects of traditional relief, debt relief under the Heavily Indebted Poor Country (HIPC) Initiative as well as relief under the Multilateral Debt Relief Initiative (MDRI). Under the MDRI, the International Development Association (IDA), the International Monetary Fund (IMF), and the African Development Fund (AfDF) provide debt stock cancellation to post-completion point HIPC countries on debt owed to the three institutions. The Inter-American Development Bank (IDB) provides similar debt stock cancellation under the IDB 2007 Debt Initiative. MDRI debt relief provides 100 percent stock cancellation on debt disbursed before end-2004 (for the IMF, AfDF, and IDB) or end-2003 (for IDA), and still outstanding at the time the country reaches the completion point under the HIPC Initiative. In line with the Debt Sustainability Framework for low-income countries, only the conditional debt relief under HIPC is included for countries in the interim period (between decision and completion point of the HIPC initiative).

29

T A B L E S


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Summary Table 2. Public and Publicly Guaranteed Debt, Multilateral Creditors, 2012 US$ million Country name

Afghanistan Albania Algeria Angola Argentina Armenia Azerbaijan Bangladesh Belarus Belize Benin Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil Bulgaria Burkina Faso Burundi Cambodia Cameroon Cape Verde Central African Republic Chad China Colombia Comoros Congo, Dem. Rep. Congo, Rep. Costa Rica Côte d’Ivoire Djibouti Dominica Dominican Republic Ecuador Egypt, Arab Rep. El Salvador Eritrea Ethiopia Fiji Gabon Gambia, The Georgia Ghana Grenada Guatemala

Multilateral (excluding IMF)

IBRD

1,121 1,871 7 491 18,351 1,861 2,804 19,512 2,205 267 1,097 434 3,013 2,876 1,848 27,860 2,453 1,896 336 1,631 1,127 637 42 1,478 34,614 16,184 172 2,353 164 1,857 518 420 128 3,537 5,137 10,441 3,786 654 4,112 135 476 278 2,308 3,698 189 4,492

0 59 7 0 5,625 236 808 0 424 11 0 0 0 455 97 11,439 1,210 0 0 0 13 1 0 0 12,913 7,706 0 0 0 585 0 0 0 910 296 3,109 983 0 0 0 34 0 350 0 11 1,395

30

IDA

422 874 0 420 0 1,235 833 11,159 0 0 435 175 443 1,193 3 0 0 898 175 589 498 313 23 830 6,777 0 90 962 91 0 118 151 27 6 7 1,230 6 480 2,801 0 0 63 1,295 2,523 48 0

Other multilateral

Use of IMF credit

699 937 0 70 12,726 390 1,163 8,353 1,780 256 661 260 2,570 1,228 1,747 16,422 1,243 998 162 1,041 615 323 19 649 14,923 8,478 82 1,391 73 1,271 399 269 101 2,621 4,834 6,102 2,797 174 1,311 135 443 215 664 1,175 129 3,097

388 107 1,842 1,740 3,105 911 252 1,213 3,588 32 210 9 252 888 88 4,437 939 301 249 129 440 18 183 87 10,743 1,135 28 1,260 152 241 1,265 58 27 1,513 443 1,381 252 23 484 103 225 94 965 1,253 45 309


S U M M A R Y

Summary Table 2. Public and Publicly Guaranteed Debt, Multilateral Creditors, 2012 (continued) US$ million Country name

Guinea Guinea-Bissau Guyana Haiti Honduras Hungary India Indonesia Iran, Islamic Rep. Jamaica Jordan Kazakhstan Kenya Kosovo Kyrgyz Republic Lao PDR Lebanon Lesotho Liberia Macedonia, FYR Madagascar Malawi Malaysia Maldives Mali Mauritania Mauritius Mexico Moldova Mongolia Montenegro Morocco Mozambique Myanmar Nepal Nicaragua Niger Nigeria Pakistan Panama Papua New Guinea Paraguay Peru Philippines Romania Rwanda

Multilateral (excluding IMF)

IBRD

611 111 605 78 2,753 15,469 52,632 23,077 714 2,460 2,553 4,164 4,930 295 1,386 1,845 1,138 652 81 1,222 1,682 706 178 322 2,150 1,609 629 25,273 717 1,133 788 12,052 2,607 615 3,145 2,076 962 5,349 25,102 2,391 782 1,597 7,594 9,395 16,796 877

0 0 0 0 0 8 11,779 10,468 702 659 1,092 2,641 0 283 0 0 253 0 0 353 0 0 0 0 0 0 274 14,706 55 0 313 2,952 0 0 0 0 0 0 1,486 489 114 331 2,435 3,333 3,550 0

IDA

159 56 11 0 809 0 26,384 2,200 0 0 27 0 3,586 11 675 620 0 316 37 346 1,246 323 0 105 1,051 384 6 0 506 467 86 10 1,808 445 1,459 498 447 4,686 11,136 0 123 11 0 154 0 430

Other multilateral

Use of IMF credit

452 55 594 78 1,944 15,462 14,469 10,409 12 1,801 1,435 1,523 1,344 0 711 1,225 886 336 44 523 435 383 178 217 1,099 1,224 349 10,567 156 665 389 9,090 798 170 1,686 1,577 515 663 12,480 1,902 546 1,255 5,159 5,909 13,246 447

215 32 171 169 209 8,311 6,114 3,044 2,136 1,235 642 528 1,293 234 321 79 317 115 267 404 267 283 2,069 28 237 211 149 4,382 793 234 40 863 353 368 204 361 164 2,575 7,684 303 193 146 937 1,288 15,748 131 (table continues next page)

31

T A B L E S


I N T E R N A T I O N A L

D E B T

S T A T I S T I C S

2 0 1 4

Summary Table 2. Public and Publicly Guaranteed Debt, Multilateral Creditors, 2012 (continued) US$ million Country name

Multilateral (excluding IMF)

IBRD

IDA

Other multilateral

Use of IMF credit

Samoa São Tomé and Príncipe Senegal Serbia Seychelles Sierra Leone Solomon Islands Somalia South Africa Sri Lanka St. Lucia St. Vincent and the Grenadines Sudan Swaziland Syrian Arab Republic Tajikistan Tanzania Thailand Togo Tonga Tunisia Turkey Turkmenistan Uganda Ukraine Uzbekistan Vanuatu Venezuela, RB Vietnam Yemen, Rep. Zambia Zimbabwe

240 38 2,526 6,072 90 482 94 798 2,782 6,624 226

0 0 0 1,915 24 0 0 0 1,077 3 15

103 14 1,320 708 0 226 39 442 0 2,750 64

137 24 1,207 3,449 65 255 55 356 1,705 3,872 147

26 16 442 2,517 54 274 35 243 2,744 3,118 41

201 3,467 213 1,641 981 5,443 503 205 65 8,752 23,177 44 3,035 13,316 1,710 62 5,637 16,025 3,350 1,077 1,626

6 0 2 0 0 0 162 0 0 2,197 13,152 8 0 3,224 222 0 0 984 0 0 463

23 1,288 2 14 372 4,030 0 14 23 14 30 0 2,033 0 198 10 0 9,059 2,104 565 512

173 2,178 209 1,627 609 1,413 340 191 42 6,541 9,995 35 1,002 10,092 1,290 51 5,637 5,982 1,246 512 651

23 645 74 429 287 641 1,491 254 10 419 2,510 107 272 12,795 404 25 3,909 484 504 1,126 520

All developing countries

544,673

130,407

123,772

290,493

145,690

90,392 102,514

27,973 29,267

20,611 8,362

41,809 64,884

20,320 52,649

135,693

47,602

1,954

86,137

23,676

41,068 108,893 66,113 67,192 477,481

10,312 13,267 1,986 463 129,945

3,549 53,590 35,707 38,280 85,493

27,208 42,036 28,420 28,449 262,044

8,590 18,757 21,698 11,443 134,248

East Asia and Pacific Europe and Central Asia Latin America and the Caribbean Middle East and North Africa South Asia Sub-Saharan Africa Low income Middle income

Source: World Bank data. Note: IBRD = International Bank for Reconstruction and Development; IDA = International Development Association; IMF = International Monetary Fund.

32


Aggregate Tables

33


ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,965,563 1,635,351 269,418 27,342 60,795

2,338,008 1,793,999 481,229 25,509 62,779

2,993,499 2,260,296 700,067 27,254 33,136

3,262,148 2,510,831 702,784 27,049 48,533

3,542,115 2,643,040 749,435 26,278 149,640

3,987,451 2,828,045 1,000,336 21,569 159,069

4,437,779 3,106,276 1,172,469 18,582 159,034

4,829,608 3,406,325 1,277,593 20,330 145,690

1,635,351 1,183,745 678,002 505,742 449,889

1,793,999 1,229,396 678,720 550,676 564,604

2,260,296 1,271,577 658,122 613,455 988,719

2,510,831 1,320,813 707,037 613,776 1,190,018

2,643,040 1,410,065 780,195 629,870 1,232,976

2,828,045 1,528,942 836,500 692,442 1,299,103

3,106,276 1,609,434 868,409 741,025 1,496,842

3,406,325 1,765,598 889,816 875,782 1,640,727

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

225,799 135,446 51,105 84,341 90,353

336,484 137,343 45,710 91,633 199,141

584,151 156,264 59,587 96,677 427,888

615,503 162,378 74,739 87,639 453,125

545,603 193,554 107,314 86,240 352,050

649,364 249,495 113,470 136,025 399,869

750,573 217,739 92,653 125,086 532,833

777,737 269,517 94,616 174,901 508,220

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

200,211 103,334 46,179 57,154 96,848

264,440 123,957 50,646 73,311 140,462

335,368 115,411 51,204 64,207 219,957

386,620 128,617 48,579 80,038 258,003

418,044 107,976 45,262 62,715 310,068

437,242 105,289 46,778 58,511 331,952

474,346 125,620 61,187 64,433 348,726

455,955 101,357 53,338 48,019 354,598

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

88,685 60,591 24,498 36,093 28,094

76,039 55,907 21,388 34,519 20,132

97,276 56,367 19,636 36,731 40,909

104,133 54,494 18,748 35,746 49,639

98,975 50,351 16,947 33,404 48,624

98,742 50,234 15,848 34,386 48,508

117,128 55,617 16,741 38,876 61,511

135,681 80,976 18,591 62,384 54,705

8,024 -2,637 10,691 20,692 27,186 -6,495 -10,001

120,684 -41,511 162,216 77,001 18,322 58,679 85,216

382,125 3,242 378,883 240,400 32,470 207,930 138,483

248,430 42,784 205,647 202,724 7,601 195,123 2,923

206,749 93,829 112,920 65,507 23,525 41,982 47,413

481,172 80,130 401,006 145,431 77,515 67,916 255,575

451,869 31,989 419,880 244,760 60,653 184,107 175,120

411,814 27,935 383,880 280,505 126,882 153,622 103,375

142,604 14,105

293,437 66,142

558,636 109,023

623,429 -40,623

380,309 110,947

511,562 123,378

654,719 2,687

612,165 97,585

.. 60.9

15.1 62.4

17.2 61.2

16.0 61.5

16.7 60.5

14.5 61.4

13.5 62.1

13.0 63.2

5,318,897 1,540,449 76,314 1,638,802 64,228 -3,231 568,313

8,607,066 2,903,914 177,793 2,951,570 177,122 160,521 1,737,316

12,518,653 4,315,450 255,226 4,260,702 285,499 310,454 3,137,717

14,895,209 5,182,295 294,531 5,198,829 331,745 268,936 3,644,614

14,925,222 4,244,891 280,447 4,349,794 317,104 160,650 4,277,422

17,918,429 5,290,258 310,124 5,515,524 432,676 79,459 4,950,847

20,788,294 6,400,996 342,869 6,785,809 514,713 -77,059 5,426,656

21,874,356 6,716,046 348,130 7,093,344 486,302 -106,054 5,679,420

127.6 37.0 21.1 13.7 16.1 28.9 4.2

80.5 27.2 13.8 20.6 15.7 74.3 7.1

69.4 23.9 10.8 23.4 12.3 104.8 8.8

62.9 21.9 9.9 21.5 12.1 111.7 8.4

83.4 23.7 12.5 21.2 12.8 120.8 11.8

75.4 22.3 11.0 25.1 12.5 124.2 10.8

69.3 21.3 10.0 26.4 11.7 122.3 9.6

71.9 22.1 9.8 26.5 11.3 117.6 9.6

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

35


EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

497,305 418,094 61,429 5,336 17,781

628,126 419,294 198,827 1,090 10,005

746,652 467,760 277,061 1,125 1,832

775,278 509,717 263,827 1,155 1,734

883,306 533,571 328,912 1,226 20,823

1,080,620 582,217 477,939 1,347 20,464

1,286,637 643,173 623,102 1,371 20,362

1,412,411 713,134 678,958 548 20,320

418,094 270,939 171,436 99,504 147,155

419,294 264,726 172,448 92,278 154,568

467,760 271,582 177,117 94,465 196,178

509,717 290,873 193,734 97,139 218,844

533,571 312,413 202,972 109,441 221,158

582,217 338,574 210,822 127,752 243,643

643,173 341,214 215,391 125,823 301,959

713,134 354,456 208,140 146,316 358,678

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

42,165 28,719 15,620 13,099 13,446

73,934 24,904 9,059 15,845 49,030

87,962 20,620 11,827 8,793 67,341

89,189 23,740 13,040 10,700 65,448

91,545 39,777 16,705 23,072 51,768

132,280 53,462 16,850 36,612 78,818

144,865 41,310 14,604 26,705 103,556

167,642 48,722 17,920 30,801 118,920

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

47,006 22,798 10,243 12,555 24,208

66,906 24,410 10,767 13,643 42,495

73,888 22,350 15,001 7,349 51,538

71,278 22,125 13,384 8,741 49,153

82,369 25,478 12,893 12,584 56,892

83,078 25,641 12,868 12,773 57,437

90,221 29,688 14,996 14,692 60,533

90,056 23,672 14,581 9,091 66,385

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

20,429 12,889 7,237 5,652 7,539

12,633 8,524 4,043 4,481 4,109

17,060 10,431 5,109 5,322 6,630

16,415 10,000 4,676 5,325 6,415

14,091 9,373 4,005 5,369 4,718

17,076 9,605 3,739 5,865 7,471

20,232 10,904 3,839 7,066 9,327

22,144 12,068 4,626 7,442 10,076

-14,461 6,602 -21,064 -10,217 544 -10,761 -10,846

42,319 -3,305 45,624 8,736 2,202 6,534 36,888

66,966 -3,209 70,175 17,247 1,444 15,803 52,927

4,599 -392 4,991 18,255 1,959 16,296 -13,263

74,313 3,936 70,377 5,364 10,488 -5,124 65,013

198,093 3,967 194,126 45,220 23,839 21,381 148,906

199,752 -423 200,175 55,035 12,013 43,022 145,140

134,214 3,289 130,925 74,246 21,711 52,535 56,679

45,168 6,589

129,086 25,907

196,378 35,063

211,229 -7,583

154,486 30,185

291,149 40,324

339,908 6,707

313,660 37,899

.. 55.9

7.8 57.1

8.6 58.0

7.1 58.2

6.3 61.2

5.5 63.3

5.0 64.0

4.4 69.3

1,672,410 636,053 15,799 606,291 31,677 45,054 275,532

3,005,319 1,295,787 34,114 1,193,887 80,019 146,684 1,003,800

4,608,485 1,999,301 50,190 1,654,910 101,896 409,990 1,834,401

5,839,188 2,361,754 59,000 1,982,132 117,334 454,109 2,265,585

6,290,913 2,013,086 60,163 1,764,719 144,470 309,130 2,779,443

7,509,222 2,600,615 75,556 2,388,479 212,274 283,182 3,315,596

9,174,014 3,104,085 85,671 2,990,423 265,310 177,153 3,708,780

10,179,934 3,338,605 77,940 3,187,721 251,635 197,431 3,870,923

78.2 29.7 11.4 12.4 13.2 55.4 5.5

48.5 20.9 6.7 31.7 10.2 159.8 10.1

37.3 16.2 5.0 37.1 9.3 245.7 13.3

32.8 13.3 4.0 34.0 9.5 292.2 13.7

43.9 14.0 5.0 37.2 9.2 314.7 18.9

41.6 14.4 5.0 44.2 8.0 306.8 16.7

41.4 14.0 4.6 48.4 6.9 288.3 14.9

42.3 13.9 4.5 48.1 6.4 274.1 14.6

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

36


EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

234,145 173,585 44,075 3,979 16,485

442,448 317,558 98,893 947 25,996

806,116 617,545 172,076 980 16,496

966,619 760,144 177,904 1,118 28,570

1,023,159 796,002 168,353 1,463 58,804

1,060,465 782,946 210,692 2,219 66,826

1,095,349 806,577 223,155 621 65,617

1,149,505 862,896 233,960 2,462 52,649

173,585 118,495 44,822 73,673 55,090

317,558 152,281 53,234 99,047 165,277

617,545 199,733 65,262 134,471 417,812

760,144 205,125 77,121 128,004 555,019

796,002 226,269 102,327 123,942 569,733

782,946 246,713 118,022 128,690 536,234

806,577 261,014 124,081 136,933 545,563

862,896 297,290 131,040 166,250 565,606

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

40,350 20,730 6,054 14,676 19,620

116,049 20,745 5,321 15,424 95,304

243,015 31,333 8,977 22,355 211,682

315,574 29,330 17,320 12,009 286,244

245,787 36,555 28,390 8,165 209,232

233,682 43,009 24,200 18,809 190,673

281,170 41,157 18,569 22,588 240,013

265,581 53,429 14,834 38,595 212,152

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

28,368 12,822 4,773 8,050 15,546

72,850 19,237 5,082 14,155 53,613

107,795 13,337 4,875 8,462 94,458

174,755 22,817 5,576 17,241 151,938

214,851 17,877 4,806 13,072 196,974

226,556 14,928 5,227 9,701 211,628

231,980 21,489 10,634 10,855 210,491

212,759 17,893 8,771 9,122 194,866

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9,304 6,477 1,832 4,645 2,827

13,422 7,587 1,739 5,848 5,835

24,378 9,305 2,309 6,996 15,073

31,653 9,596 2,610 6,986 22,057

32,797 8,933 2,499 6,434 23,864

28,519 8,430 2,296 6,134 20,089

35,459 9,773 2,964 6,809 25,686

27,868 10,449 3,073 7,377 17,418

21,521 3,658 17,863 10,701 6,626 4,075 7,162

57,849 -6,143 63,992 42,960 1,269 41,691 21,032

171,910 -933 172,843 131,117 13,893 117,224 41,726

159,331 24,565 134,766 129,075 -5,232 134,306 5,691

46,500 49,047 -2,547 7,351 -4,907 12,258 -9,898

57,687 27,950 29,736 -11,847 9,108 -20,955 41,584

62,222 6,905 55,318 41,255 11,733 29,523 14,062

48,826 -6,896 55,722 46,759 29,472 17,286 8,963

9,063 721

49,444 6,621

158,815 3,495

165,952 -413

51,141 3,666

23,842 3,745

75,806 -659

64,424 7,988

.. 52.9

31.2 58.5

34.7 56.0

36.8 52.9

40.0 48.1

38.3 48.6

37.4 50.0

35.9 53.6

468,478 163,315 7,900 191,590 1,998 -11,922 34,995

985,945 364,180 19,296 427,855 18,044 -43,345 137,926

1,427,968 570,026 34,983 697,412 48,751 -105,808 237,076

1,697,849 720,048 40,639 852,675 57,336 -107,409 242,713

1,418,514 544,651 32,479 605,341 43,628 -36,770 261,632

1,604,022 626,766 32,225 706,593 51,891 -57,515 283,432

1,791,461 773,107 37,850 876,650 61,246 -81,736 290,662

1,802,269 794,673 38,731 872,792 57,237 -60,149 299,719

143.4 50.0 26.1 18.8 9.7 14.9 2.2

121.5 44.9 27.5 22.4 7.7 31.2 3.9

141.4 56.5 25.5 21.3 5.5 29.4 4.1

134.2 56.9 29.7 18.4 5.5 25.1 3.4

187.9 72.1 46.5 16.5 7.4 25.6 5.2

169.2 66.1 41.9 19.9 8.4 26.7 4.8

141.7 61.1 35.8 20.4 8.6 26.5 4.0

144.7 63.8 32.9 20.4 8.9 26.1 4.1

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

37


LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

714,327 600,829 102,426 1,693 11,073

694,158 569,719 111,012 8,855 13,426

782,254 648,907 129,659 10,319 3,688

831,084 694,619 132,829 10,887 3,636

866,260 717,579 125,712 11,667 22,969

1,000,859 810,941 166,312 6,350 23,607

1,133,485 948,638 161,071 7,018 23,776

1,257,876 1,060,622 173,577 7,235 23,676

Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

600,829 385,299 135,904 249,395 215,530

569,719 404,317 129,844 274,473 165,402

648,907 408,517 117,664 290,852 240,391

694,619 421,802 126,821 294,981 272,817

717,579 437,590 144,550 293,040 279,989

810,941 477,758 166,297 311,462 333,183

948,638 509,092 169,856 339,236 439,547

1,060,622 577,458 181,212 396,247 483,164

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

110,430 57,129 15,752 41,377 53,301

91,383 55,218 12,308 42,910 36,165

142,928 52,402 14,494 37,908 90,526

138,685 61,837 18,704 43,133 76,848

138,495 69,488 29,929 39,559 69,008

189,066 87,575 34,941 52,634 101,491

227,699 75,794 22,741 53,054 151,905

232,448 99,257 24,421 74,836 133,191

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

96,331 41,549 16,458 25,091 54,782

76,259 40,685 15,865 24,820 35,574

92,289 46,367 15,512 30,855 45,922

88,124 45,900 12,313 33,586 42,224

83,085 36,973 13,125 23,847 46,113

82,989 39,024 13,627 25,397 43,965

101,866 44,345 18,116 26,229 57,520

102,995 30,121 12,451 17,670 72,874

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

45,465 29,178 8,198 20,980 16,287

32,208 23,935 5,330 18,605 8,273

39,761 25,575 5,754 19,821 14,186

40,037 24,075 5,261 18,814 15,961

37,567 22,171 4,725 17,446 15,396

37,856 22,398 4,501 17,898 15,458

44,156 24,596 4,635 19,961 19,560

65,663 46,281 4,678 41,603 19,382

-1,521 -11,433 9,913 14,805 16,286 -1,481 -4,892

8,561 -30,966 39,527 18,681 18,090 591 20,846

72,224 -989 73,213 51,657 7,053 44,604 21,556

53,203 6,431 46,772 44,170 9,547 34,624 2,601

47,906 17,196 30,710 38,607 15,712 22,895 -7,897

153,301 22,621 130,680 84,764 27,238 57,526 45,916

120,173 4,872 115,302 121,210 26,825 94,385 -5,908

141,619 11,848 129,771 117,483 57,166 60,317 12,288

73,827 -139

67,027 10,641

112,463 28,430

121,502 -11,596

71,230 41,249

110,858 39,284

144,952 2,552

150,327 20,214

.. 71.6

9.5 79.4

11.1 77.5

9.9 79.2

10.8 76.7

8.3 76.8

7.0 76.4

6.6 73.8

1,875,306 413,611 20,124 481,150 20,128 -46,664 135,977

2,425,882 599,656 48,748 622,140 42,841 28,749 227,963

3,396,608 812,781 61,637 879,432 68,647 -3,324 414,989

3,973,632 944,012 62,621 1,046,328 78,543 -38,592 455,826

3,718,127 741,007 55,073 829,472 64,636 -32,822 502,129

4,619,946 917,744 55,698 1,041,430 78,499 -67,124 583,528

5,170,855 1,133,537 59,023 1,267,460 96,454 -74,118 671,417

5,145,954 1,161,214 57,917 1,314,097 92,252 -93,556 727,216

172.7 38.1 39.5 14.3 12.6 19.0 3.4

115.8 28.6 23.9 16.0 14.3 32.8 4.4

96.2 23.0 17.1 16.6 11.8 53.1 5.7

88.0 20.9 14.0 16.0 11.8 54.8 5.2

116.9 23.3 16.6 14.5 12.8 58.0 7.3

109.1 21.7 13.7 16.6 12.8 58.3 6.7

100.0 21.9 13.3 14.2 11.4 59.2 6.4

108.3 24.4 15.0 13.8 10.8 57.8 6.6

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

38


MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

143,802 116,467 23,870 2,629 3,465

150,613 122,225 26,814 298 1,574

156,269 123,213 31,556 256 1,501

148,707 117,710 29,647 259 1,350

160,566 119,472 32,752 326 8,342

166,620 121,067 37,225 342 8,328

162,918 120,045 34,674 351 8,199

177,092 129,761 38,740 458 8,590

116,467 112,496 88,137 24,359 3,970

122,225 115,440 77,719 37,721 6,785

123,213 116,479 76,967 39,512 6,734

117,710 110,320 74,764 35,556 7,390

119,472 112,587 78,274 34,313 6,885

121,067 114,033 78,123 35,910 7,034

120,045 112,740 78,754 33,986 7,304

129,761 121,235 82,438 38,797 8,526

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9,222 7,941 3,411 4,530 1,281

14,875 12,955 5,493 7,462 1,920

15,052 13,216 7,173 6,042 1,837

12,025 9,677 6,337 3,340 2,348

13,641 12,024 8,167 3,857 1,617

14,842 13,472 7,246 6,226 1,370

13,755 12,267 7,772 4,494 1,489

21,848 18,960 10,446 8,514 2,888

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

10,613 10,377 5,915 4,462 237

14,162 13,328 7,863 5,465 834

14,218 11,767 5,857 5,910 2,452

16,190 14,188 7,968 6,220 2,001

13,250 11,000 5,636 5,364 2,250

12,162 10,333 5,963 4,371 1,829

13,967 12,653 6,514 6,139 1,314

11,583 9,591 6,148 3,444 1,992

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

4,888 4,734 3,130 1,603 154

4,749 4,458 2,507 1,951 291

4,728 4,451 2,153 2,298 278

4,768 4,501 2,247 2,254 266

4,382 4,113 2,039 2,073 270

4,297 4,045 2,128 1,917 253

4,257 4,023 1,945 2,078 234

4,006 3,779 1,848 1,931 227

792 -2,718 3,510 1,112 69 1,044 2,398

536 -3,115 3,651 3,083 1,997 1,086 568

4,088 1,229 2,859 -483 132 -615 3,342

-6,164 -1,719 -4,444 -2,534 -2,881 347 -1,910

3,367 2,470 898 -2,140 -1,507 -633 3,038

7,135 1,283 5,853 1,397 1,855 -459 4,456

-2,831 1,198 -4,029 -1,470 -1,645 175 -2,559

14,679 4,753 9,926 5,967 5,071 896 3,959

3,720 252

16,879 2,410

28,111 -2,096

29,553 422

26,320 1,200

22,282 1,964

13,672 -625

19,299 -1,293

.. 49.5

30.9 43.0

35.6 38.7

33.9 38.4

34.5 37.6

33.0 38.5

32.0 38.6

30.9 42.0

364,785 119,254 10,460 110,478 1,721 12,620 44,145

543,094 206,905 21,757 206,726 10,685 19,948 138,225

765,656 299,170 28,899 282,584 11,376 24,304 217,792

931,557 379,767 32,525 361,231 13,463 19,624 260,567

925,575 314,723 30,303 341,314 13,976 -20,804 280,516

.. 328,768 36,052 362,655 17,349 -9,520 298,452

.. 381,681 36,921 400,847 18,349 -8,708 274,618

.. 420,426 38,748 417,998 17,823 -15,548 279,229

120.6 39.4 14.2 16.6 16.1 30.7 4.8

72.8 27.7 10.2 17.8 17.3 91.8 8.0

52.2 20.4 6.9 20.2 19.8 139.4 9.2

39.2 16.0 5.8 19.9 21.0 175.2 8.7

51.0 17.3 5.8 20.4 21.8 174.7 9.9

50.7 .. 5.2 22.3 21.8 179.1 9.9

42.7 .. 5.0 21.3 23.5 168.6 8.2

42.1 .. 3.9 21.9 23.2 157.7 8.0

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

39


SOUTH ASIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

162,540 153,202 6,067 128 3,270

190,109 174,607 11,851 30 3,652

289,188 243,710 41,606 24 3,871

322,747 266,344 49,471 20 6,933

363,098 292,328 52,107 22 18,663

409,810 325,598 63,894 72 20,319

461,791 354,726 86,776 213 20,289

501,491 382,503 100,230 224 18,757

153,202 134,688 102,021 32,668 18,514

174,607 116,576 109,867 6,708 58,031

243,710 144,679 127,452 17,227 99,031

266,344 156,292 138,006 18,287 110,051

292,328 169,701 145,980 23,721 122,627

325,598 190,074 157,433 32,641 135,525

354,726 203,847 165,987 37,860 150,879

382,503 215,440 167,706 47,734 167,063

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

13,995 13,409 6,130 7,279 586

24,451 10,989 7,407 3,582 13,462

71,454 22,230 9,325 12,905 49,224

45,659 24,659 11,284 13,375 21,000

35,240 17,877 12,785 5,092 17,363

55,914 31,910 14,910 16,999 24,004

51,876 21,824 13,711 8,113 30,052

58,514 25,718 12,448 13,269 32,796

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9,315 8,607 5,352 3,256 707

21,758 14,498 4,475 10,023 7,260

34,937 11,362 4,821 6,541 23,575

27,120 16,341 5,600 10,741 10,779

15,156 8,721 5,433 3,288 6,435

23,747 8,862 6,051 2,811 14,884

26,021 10,176 7,128 3,048 15,845

25,118 10,078 6,921 3,156 15,041

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

5,277 4,396 2,275 2,121 881

5,219 3,946 1,913 2,033 1,272

6,944 2,742 2,259 483 4,202

7,333 2,950 2,312 638 4,383

6,472 2,702 2,159 544 3,769

6,455 2,732 2,042 690 3,723

7,862 2,728 2,133 595 5,134

9,829 3,363 2,540 824 6,466

3,454 489 2,964 3,903 4,024 -121 -938

4,958 2,912 2,045 -239 -6,441 6,202 2,284

49,380 4,435 44,945 32,013 6,363 25,649 12,932

29,582 8,859 20,723 12,854 2,633 10,221 7,869

26,339 10,973 15,366 12,732 1,803 10,928 2,634

45,880 10,835 35,010 23,308 14,188 9,120 11,702

48,630 6,617 42,013 19,272 5,065 14,207 22,741

45,295 3,983 41,312 27,869 10,113 17,756 13,443

4,368 2,518

10,889 12,406

32,474 33,970

50,879 -15,823

39,473 24,103

31,210 29,907

40,369 -4,273

27,405 23,386

.. 56.6

7.5 54.9

7.3 57.3

6.4 56.2

6.1 58.9

5.1 60.5

4.6 61.4

4.6 65.0

616,558 88,760 17,206 117,568 721 -6,218 43,326

1,043,828 201,378 33,909 260,015 7,979 -14,836 149,529

1,507,666 305,078 54,029 385,933 15,434 -17,039 292,620

1,536,201 381,176 71,723 511,244 16,798 -51,106 268,668

1,691,078 329,570 74,925 440,138 16,405 -28,948 298,771

2,070,169 427,327 81,954 574,556 25,743 -58,101 315,374

2,298,444 538,341 96,464 715,523 27,888 -73,673 310,608

2,293,742 535,452 108,112 752,557 21,097 -102,511 310,799

183.1 26.4 17.5 3.7 37.5 26.7 4.4

94.4 18.2 13.8 6.2 36.6 78.7 6.9

94.8 19.2 14.5 14.4 28.8 101.2 9.1

84.7 21.0 9.6 15.3 27.6 83.2 6.3

110.2 21.5 6.9 14.4 26.2 82.3 8.1

95.9 19.8 7.4 15.6 24.8 77.0 6.6

85.8 20.1 6.6 18.8 23.1 67.3 5.2

93.7 21.9 7.3 20.0 21.7 62.0 5.0

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

40


SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

213,444 173,174 31,550 13,578 8,720

232,554 190,596 33,833 14,289 8,125

213,020 159,161 48,110 14,550 5,749

217,714 162,298 49,105 13,610 6,311

245,726 184,089 41,599 11,572 20,039

269,077 205,275 44,276 11,239 19,526

297,599 233,117 43,689 9,008 20,792

331,234 257,409 52,127 9,403 21,698

173,174 161,826 135,683 26,143 9,631

190,596 176,056 135,608 40,449 14,540

159,161 130,588 93,661 36,928 28,573

162,298 136,400 96,592 39,808 25,898

184,089 151,505 106,092 45,413 32,584

205,275 161,790 105,803 55,988 43,485

233,117 181,527 114,340 67,187 51,590

257,409 199,718 119,280 80,438 57,691

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9,637 7,518 4,139 3,379 2,119

15,792 12,532 6,122 6,410 3,260

23,740 16,463 7,790 8,673 7,278

14,372 13,135 8,053 5,082 1,236

20,895 17,833 11,338 6,495 3,062

23,580 20,067 15,323 4,745 3,513

31,207 25,388 15,256 10,132 5,819

31,703 23,432 14,547 8,886 8,271

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

8,578 7,180 3,440 3,741 1,368

12,504 11,798 6,593 5,205 685

12,240 10,228 5,139 5,089 2,012

9,154 7,246 3,738 3,508 1,907

9,332 7,928 3,369 4,559 1,405

8,711 6,501 3,043 3,458 2,210

10,291 7,268 3,798 3,470 3,023

13,442 10,003 4,466 5,536 3,440

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

3,323 2,918 1,826 1,092 405

7,808 7,456 5,856 1,600 352

4,405 3,864 2,052 1,812 541

3,928 3,371 1,642 1,729 556

3,666 3,059 1,521 1,538 607

4,539 3,025 1,142 1,882 1,514

5,162 3,593 1,226 2,367 1,569

6,171 5,035 1,827 3,208 1,137

-1,761 765 -2,495 389 -362 751 -2,885

6,462 -895 7,378 3,780 1,206 2,574 3,598

17,557 2,708 14,849 8,850 3,584 5,266 5,999

7,879 5,040 2,839 903 1,574 -671 1,936

8,323 10,207 -1,883 3,594 1,937 1,657 -5,477

19,075 13,475 5,601 2,590 1,286 1,303 3,011

23,922 12,820 11,102 9,458 6,662 2,796 1,644

27,182 10,958 16,224 8,181 3,349 4,831 8,043

6,458 4,164

20,112 8,157

30,395 10,161

44,314 -5,629

37,659 10,544

32,222 8,155

40,012 -1,015

37,049 9,392

.. 61.3

19.3 52.3

21.2 49.5

18.6 51.3

18.7 49.9

13.1 48.8

11.7 51.2

10.6 46.9

320,365 114,847 4,825 118,757 7,983 3,898 34,337

602,767 238,161 19,969 242,006 17,553 23,322 79,872

812,355 332,477 25,487 366,394 39,396 2,331 140,839

918,253 400,682 28,022 453,437 48,271 -7,690 151,256

884,219 303,067 27,504 374,028 33,989 -29,137 154,931

1,068,853 390,004 28,639 445,898 46,920 -11,463 154,464

1,181,588 470,482 26,942 536,202 45,466 -15,976 170,570

1,216,845 463,470 26,682 547,429 46,257 -31,720 191,534

185.9 66.6 11.8 14.8 25.6 16.1 3.5

97.6 38.6 9.2 14.5 31.2 34.3 4.0

64.1 26.2 5.5 22.6 22.6 66.1 4.6

54.3 23.7 3.8 22.6 23.1 69.5 4.0

81.1 27.8 4.7 16.9 22.3 63.1 5.0

69.0 25.2 3.7 16.5 21.7 57.4 4.2

63.3 25.2 3.5 14.7 21.0 57.3 3.8

71.5 27.2 4.5 15.7 20.0 57.8 4.2

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

41


Country Tables

43


AFGHANISTAN (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

.. .. .. .. ..

.. .. .. .. ..

2,013 1,893 21 21 99

2,134 1,985 17 17 131

2,470 2,097 20 20 353

2,423 1,966 102 67 355

2,627 2,023 232 210 373

2,709 2,071 250 219 388

Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

.. .. .. .. ..

.. .. .. .. ..

1,893 1,893 1,893 0 ..

1,985 1,985 1,985 0 ..

2,097 2,097 2,097 0 ..

1,966 1,966 1,966 0 ..

2,023 2,023 2,023 0 ..

2,071 2,071 2,071 0 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

.. .. .. .. ..

.. .. .. .. ..

147 147 147 0 ..

96 96 96 0 ..

109 109 109 0 ..

76 76 76 0 ..

62 62 62 0 ..

52 52 52 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

.. .. .. .. ..

.. .. .. .. ..

1 1 1 0 ..

1 1 1 0 ..

3 3 3 0 ..

1 1 1 0 ..

1 1 1 0 ..

1 1 1 0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

.. .. .. .. ..

.. .. .. .. ..

3 3 3 0 ..

6 6 6 0 ..

7 7 7 0 ..

7 7 7 0 ..

9 9 9 0 ..

8 8 8 0 ..

.. .. .. .. .. .. ..

.. .. .. .. .. .. ..

201 201 0 0 0 .. ..

131 131 0 0 0 .. ..

123 123 0 0 0 .. ..

119 84 0 0 0 .. 0

67 80 -13 0 0 .. -13

75 66 9 0 0 .. 9

.. ..

.. ..

189 ..

87 -1

214 ..

76 0

91 0

94 2

.. ..

.. ..

.. 78.7

.. 82.2

.. 81.2

.. 77.7

.. 74.5

.. 73.4

.. .. .. .. .. .. ..

.. .. .. .. .. .. ..

9,844 .. .. .. .. .. ..

10,192 1,935 104 3,752 0 -1,673 2,431

12,487 2,546 152 4,467 0 -1,893 3,501

15,937 3,920 331 6,840 0 -2,795 4,174

18,034 4,300 247 8,204 0 -3,583 5,268

.. 4,238 385 11,885 2 -7,286 5,983

.. .. .. .. .. .. ..

.. .. .. .. .. .. ..

.. 20.4 .. 1.0 40.7 .. ..

110.3 20.9 0.4 0.8 42.3 113.9 7.8

97.0 19.8 0.4 0.8 41.2 141.8 9.4

61.8 15.2 0.3 4.2 41.9 172.3 7.3

61.1 14.6 0.3 8.8 40.8 200.5 7.7

63.9 .. 0.3 9.2 41.4 220.9 6.0

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreements signed in 2010 and HIPC and MDRI debt relief.

45


ALBANIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,122 937 37 3 148

2,101 1,788 155 1 158

2,898 2,224 511 1 163

4,238 2,936 1,150 0 152

4,309 3,485 680 0 144

5,004 4,328 547 0 129

6,038 5,019 903 0 117

6,934 5,349 1,478 0 107

Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

937 921 895 26 16

1,788 1,375 1,343 32 413

2,224 1,789 1,757 32 435

2,936 2,298 1,868 431 638

3,485 2,602 2,122 480 884

4,328 3,043 2,151 893 1,285

5,019 3,286 2,289 997 1,732

5,349 3,552 2,504 1,049 1,796

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

119 119 119 0 0

489 119 119 0 370

291 165 163 1 127

870 650 210 440 220

457 291 256 34 167

820 631 184 447 189

755 418 274 144 336

537 336 302 34 202

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9 9 8 1 0

41 40 39 1 1

74 55 51 5 19

74 58 56 1 17

112 80 78 2 32

127 89 86 3 38

143 102 99 3 41

161 108 105 3 53

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

8 7 7 0 1

25 23 23 0 1

33 31 31 0 2

48 44 35 9 5

58 50 35 14 8

47 39 31 7 8

85 77 36 41 8

84 74 37 38 9

130 122 7 -1 -1 0 8

605 83 522 368 -1 369 154

334 105 229 105 -3 108 124

1,428 146 1,283 642 439 203 640

-135 168 -303 167 33 134 -470

548 85 463 596 444 151 -133

956 163 793 437 141 295 356

942 187 755 180 31 149 575

143 ..

262 ..

652 ..

1,241 23

1,343 -4

1,089 7

1,368 23

1,265 13

.. 73.2

28.4 58.4

35.2 51.2

48.6 39.2

50.8 36.8

57.5 30.6

59.5 29.0

59.4 29.3

3,790 819 598 1,509 0 -156 616

8,541 1,687 1,290 3,553 2 -571 1,404

11,006 2,847 1,468 5,429 9 -1,151 2,104

13,135 3,751 1,495 7,149 301 -2,018 2,320

12,009 3,439 1,318 6,598 448 -1,851 2,314

11,759 3,704 1,156 6,280 381 -1,353 2,470

12,893 4,083 1,126 6,985 115 -1,650 2,394

13,051 3,797 1,027 6,232 212 -1,314 2,516

137.0 29.6 3.7 3.3 38.0 54.9 4.9

124.5 24.6 4.8 7.4 41.1 66.8 4.7

101.8 26.3 5.3 17.6 40.5 72.6 4.7

113.0 32.3 4.5 27.1 30.5 54.7 3.9

125.3 35.9 5.7 15.8 34.0 53.7 4.2

135.1 42.6 5.2 10.9 30.3 49.4 4.7

147.9 46.8 6.2 14.9 27.6 39.6 4.1

182.6 53.1 7.1 21.3 27.0 36.3 4.8

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

46


ALGERIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

25,477 23,369 222 0 1,886

17,092 16,393 516 0 184

6,135 5,182 750 0 203

6,246 4,745 1,304 0 198

7,405 4,035 1,492 0 1,878

7,246 3,623 1,778 0 1,845

6,045 3,064 1,142 0 1,840

5,643 2,597 1,205 0 1,842

23,369 23,369 17,518 5,851 ..

16,393 15,527 12,500 3,027 866

5,182 4,033 2,340 1,693 1,148

4,745 3,301 2,127 1,174 1,444

4,035 3,053 2,092 961 982

3,623 2,655 1,889 766 968

3,064 2,246 1,643 603 818

2,597 1,627 1,198 429 970

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1,219 1,219 799 420 ..

1,240 777 446 331 463

624 320 147 173 304

675 268 197 71 407

211 88 86 2 123

43 41 40 1 2

30 30 26 4 0

29 28 28 0 0

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

2,721 2,721 1,055 1,666 ..

4,448 4,219 3,014 1,205 229

1,137 606 214 391 532

1,058 914 370 544 144

910 388 155 233 522

557 324 167 157 234

536 415 255 160 121

742 589 488 101 153

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1,552 1,552 1,132 421 ..

889 864 719 145 25

202 146 61 84 57

161 113 50 63 48

124 75 34 41 49

95 64 35 29 31

80 58 32 26 22

103 85 67 18 18

-1,568 -349 -1,219 -1,246 -1,246 .. 27

-3,734 -3,180 -555 -640 -874 234 85

-305 -68 -237 -446 -218 -228 209

171 -173 345 -210 -473 264 554

-510 -69 -441 -629 -231 -398 189

-229 -127 -101 -387 -155 -232 286

-1,142 -229 -914 -277 -157 -121 -637

-650 -460 -190 -253 -101 -152 63

280 ..

1,156 ..

1,834 ..

2,675 ..

3,053 ..

2,331 ..

2,721 ..

1,602 ..

.. 44.6

40.5 40.8

60.1 28.6

59.5 29.2

60.5 29.0

58.1 30.1

59.0 32.4

72.6 16.0

52,080 .. 790 .. .. .. 12,024

97,259 50,268 170 31,155 5,485 21,180 56,303

134,004 67,230 98 38,818 5,405 30,631 110,318

169,689 87,212 104 55,546 6,206 34,440 143,243

139,577 52,915 150 55,146 5,892 401 149,041

155,538 65,253 196 55,757 4,855 12,146 162,614

181,167 80,960 203 65,917 6,313 17,690 182,822

.. 79,453 213 70,371 7,453 12,247 191,297

.. 48.9 .. 0.9 16.2 47.2 ..

34.0 17.6 11.9 3.0 14.3 329.4 21.7

9.1 4.6 2.0 12.2 2.2 1,798.3 34.1

7.2 3.7 1.4 20.9 0.2 2,293.2 30.9

14.0 5.3 2.0 20.2 0.2 2,012.6 32.4

11.1 4.7 1.0 24.5 0.1 2,244.2 35.0

7.5 3.3 0.8 18.9 0.1 3,024.5 33.3

7.1 .. 1.1 21.4 0.1 3,389.7 32.6

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

47


ANGOLA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

9,763 8,085 1,323 874 356

12,224 9,518 2,316 577 390

11,932 9,231 2,270 89 431

15,502 12,690 2,391 70 421

17,014 13,635 2,593 85 787

19,004 15,466 2,236 68 1,302

21,122 17,525 1,992 62 1,606

22,171 18,203 2,228 58 1,740

Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

8,085 8,085 2,703 5,382 ..

9,518 9,518 3,174 6,344 ..

9,231 9,231 3,210 6,021 ..

12,690 12,690 4,008 8,682 ..

13,635 13,635 4,822 8,813 ..

15,466 15,466 8,161 7,305 ..

17,525 17,525 9,687 7,837 ..

18,203 18,203 9,615 8,588 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1,045 1,045 34 1,011 ..

3,676 3,676 321 3,355 ..

5,647 5,647 952 4,695 ..

4,622 4,622 1,101 3,521 ..

3,543 3,543 1,111 2,432 ..

3,951 3,951 3,658 293 ..

4,793 4,793 2,353 2,440 ..

4,215 4,215 1,103 3,112 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1,530 1,530 268 1,262 ..

2,289 2,289 505 1,784 ..

3,779 3,779 352 3,427 ..

1,130 1,130 276 854 ..

3,131 3,131 310 2,821 ..

2,110 2,110 283 1,827 ..

2,681 2,681 820 1,862 ..

3,554 3,554 1,164 2,390 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

149 149 36 113 ..

257 257 61 195 ..

579 579 162 416 ..

443 443 118 325 ..

392 392 143 250 ..

176 176 114 63 ..

154 154 79 75 ..

640 640 321 319 ..

-733 -234 -499 -251 -251 .. -248

2,603 -185 2,788 1,572 1,572 .. 1,216

2,079 600 1,479 1,269 1,269 .. 210

3,632 825 2,807 2,667 2,667 .. 140

952 1,155 -203 -390 -390 .. 187

2,025 3,900 -1,874 -1,534 -1,534 .. -340

2,190 1,849 341 579 579 .. -238

1,032 70 962 722 722 .. 240

879 ..

-1,304 ..

-893 ..

1,679 ..

2,205 ..

-3,227 ..

-3,024 ..

-6,898 ..

.. 86.3

8.2 87.8

6.4 91.0

7.6 90.5

9.7 88.5

8.6 89.8

8.1 90.2

8.7 89.0

7,449 8,222 .. 7,454 929 796 1,198

24,203 24,312 .. 19,201 3,406 5,138 3,197

52,850 45,329 .. 34,526 7,268 10,581 11,197

70,461 64,666 82 57,261 13,185 7,194 17,869

68,669 41,582 0 48,784 6,130 -7,572 13,664

74,299 51,586 18 43,642 7,526 7,506 19,749

92,035 68,252 0 53,805 9,040 13,085 28,786

102,658 72,131 0 56,518 9,722 13,851 33,415

118.7 131.1 20.9 13.5 3.0 12.3 1.9

50.3 50.5 10.8 18.9 3.0 26.2 2.0

26.3 22.6 9.9 19.0 3.6 93.8 3.9

24.0 22.0 2.5 15.4 2.8 115.3 3.7

40.9 24.8 8.5 15.2 2.6 80.3 3.4

36.8 25.6 4.5 11.8 2.3 103.9 5.4

30.9 23.0 4.2 9.4 2.1 136.3 6.4

30.7 21.6 5.9 10.1 2.2 150.7 7.1

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months) Notes: Short-term debt is based on data from the BIS.

48


ARGENTINA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

147,029 113,234 28,325 10 5,470

127,452 82,640 34,844 7,738 9,968

120,418 100,643 19,272 9,462 503

122,497 102,024 19,983 10,009 490

127,335 104,324 19,844 10,774 3,167

117,357 100,355 13,891 5,464 3,111

122,978 103,064 16,813 6,115 3,101

121,013 103,930 13,978 6,312 3,105

113,234 87,324 20,822 66,503 25,909

82,640 56,279 20,564 35,715 26,361

100,643 70,614 20,681 49,934 30,028

102,024 71,123 20,785 50,339 30,900

104,324 75,953 22,539 53,414 28,371

100,355 69,253 23,109 46,144 31,102

103,064 68,339 23,804 44,535 34,725

103,930 67,597 23,855 43,742 36,332

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

18,794 14,312 1,971 12,341 4,482

4,727 3,219 993 2,227 1,507

9,572 6,131 2,383 3,747 3,441

7,036 4,046 2,020 2,026 2,990

7,547 3,602 3,499 103 3,946

6,893 2,592 2,455 137 4,300

10,774 2,612 2,588 23 8,163

7,667 2,377 2,341 36 5,290

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

11,689 6,185 1,871 4,314 5,503

3,450 1,684 1,501 183 1,766

5,192 3,251 2,697 554 1,941

4,651 2,383 2,380 3 2,268

11,225 5,511 1,796 3,715 5,714

10,693 5,038 1,923 3,115 5,655

11,967 5,256 1,907 3,349 6,712

9,658 3,351 2,148 1,203 6,307

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9,837 7,797 1,600 6,196 2,041

2,154 1,438 756 682 716

2,948 1,665 874 792 1,282

2,947 1,741 768 973 1,206

3,356 2,022 661 1,361 1,335

3,524 2,436 614 1,821 1,089

3,382 2,444 571 1,872 938

3,205 2,298 544 1,754 907

6,820 915 5,905 7,005 8,026 -1,021 -1,100

14,812 -4,079 18,891 1,785 2,044 -259 17,106

-6,657 -314 -6,343 4,694 3,193 1,501 -11,037

2,548 -360 2,908 2,744 2,022 722 164

-4,581 1,703 -6,284 -5,380 -3,612 -1,768 -904

-4,444 532 -4,976 -4,333 -2,978 -1,355 -643

1,078 681 397 -1,874 -3,325 1,451 2,271

-5,023 194 -5,217 -2,185 -1,167 -1,017 -3,032

10,418 -3,227

5,265 -48

6,473 1,785

9,726 -531

4,017 -212

7,846 -208

10,720 -174

12,128 876

.. 57.1

35.4 54.7

37.7 54.5

35.7 56.8

34.7 58.2

29.2 63.9

28.5 65.4

29.3 65.2

276,656 38,697 86 48,076 3,086 -8,981 25,147

176,985 51,204 432 46,414 5,456 5,274 27,179

255,510 72,794 606 65,793 7,283 7,354 44,682

319,416 87,609 698 81,023 7,902 6,756 44,855

297,710 69,991 621 61,706 8,360 8,338 46,093

358,619 84,380 639 82,615 9,964 1,360 49,734

435,223 102,761 692 104,370 10,811 -2,173 43,227

460,533 98,182 573 97,842 9,271 -56 39,920

380.0 53.1 64.0 19.3 11.2 17.1 6.3

248.9 72.0 19.6 27.3 12.3 21.3 7.0

165.4 47.1 12.0 16.0 12.5 37.1 8.1

139.8 38.4 9.0 16.3 12.2 36.6 6.6

181.9 42.8 21.0 15.6 12.8 36.2 9.0

139.1 32.7 17.0 11.8 14.5 42.4 7.2

119.7 28.3 15.1 13.7 14.6 35.2 5.0

123.3 26.3 13.2 11.6 15.2 33.0 4.9

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data from 2009 are reported by the country. Historical data are World Bank staff estimates. Long-term provincial debt data are World Bank staff estimates. Short-term debt is based on data from the BIS.

49


ARMENIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,010 675 44 6 290

1,968 1,368 298 0 302

3,037 2,281 459 0 297

3,541 2,818 453 0 270

5,023 3,778 521 0 725

6,241 4,744 621 0 876

7,383 5,551 869 0 963

7,608 5,889 807 0 911

675 675 658 17 ..

1,368 923 921 1 446

2,281 1,282 1,281 1 999

2,818 1,446 1,444 1 1,373

3,778 2,376 2,375 1 1,401

4,744 2,557 2,556 1 2,187

5,551 2,736 2,733 4 2,815

5,889 2,956 2,942 14 2,933

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

63 63 62 1 ..

168 50 50 0 117

751 207 207 0 544

776 164 164 0 612

1,247 941 941 0 306

1,734 198 198 0 1,536

1,488 206 203 2 1,282

1,626 280 270 10 1,346

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

15 15 13 2 ..

69 16 16 0 53

58 17 17 0 42

253 15 15 0 238

300 21 21 0 279

857 24 24 0 833

735 28 28 0 707

842 30 30 0 812

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9 9 9 0 ..

23 9 9 0 14

91 10 10 0 81

70 11 11 0 58

79 23 23 0 56

60 35 35 0 25

126 38 38 0 88

124 43 43 0 81

21 34 -13 -2 -2 .. -11

-38 10 -48 64 0 64 -112

831 177 655 502 0 503 152

497 130 367 374 0 374 -6

1,458 1,362 96 28 0 28 68

1,139 337 802 703 0 703 99

1,093 266 827 578 2 576 249

670 188 482 544 10 533 -62

104 0

239 1

699 0

935 -1

777 1

570 0

663 0

489 2

.. 93.3

8.0 86.3

9.0 71.2

8.7 62.9

6.3 66.0

5.8 62.8

7.8 60.8

10.7 59.1

1,964 551 87 1,017 22 -278 302

5,033 1,873 487 2,448 170 -52 669

9,485 2,587 837 4,121 332 -590 1,659

12,133 2,751 1,053 5,271 279 -1,383 1,407

8,815 2,053 763 4,236 332 -1,369 2,004

9,599 2,896 991 4,833 364 -1,373 1,866

10,693 3,639 1,994 5,497 377 -1,136 1,932

10,431 3,749 2,123 5,580 335 -1,108 1,799

183.4 51.4 9.2 4.4 48.0 29.9 3.6

105.1 39.1 7.6 15.1 41.1 34.0 3.3

117.4 32.0 7.5 15.1 34.3 54.6 4.8

128.7 29.2 13.3 12.8 31.4 39.7 3.2

244.7 57.0 20.6 10.4 28.4 39.9 5.7

215.5 65.0 33.4 9.9 24.2 29.9 4.6

202.9 69.0 25.4 11.8 22.3 26.2 4.2

203.0 72.9 30.9 10.6 24.5 23.7 3.9

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data from 2011 are World Bank staff estimates.

50


AZERBAIJAN (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,524 832 156 0 536

2,119 1,550 186 0 383

3,729 2,341 1,043 0 346

4,467 2,982 1,169 0 316

4,755 3,642 810 0 303

7,094 5,933 878 0 282

8,370 7,214 891 0 265

9,712 8,608 852 0 252

Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

832 734 643 90 99

1,550 1,362 1,103 260 187

2,341 2,197 1,517 681 143

2,982 2,656 1,839 816 327

3,642 3,329 2,172 1,157 314

5,933 3,775 2,626 1,149 2,158

7,214 4,597 3,428 1,170 2,616

8,608 5,856 4,192 1,664 2,752

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

269 263 204 59 6

431 307 71 236 124

489 442 232 210 47

741 526 283 242 216

870 820 431 389 50

2,607 693 513 180 1,914

2,159 1,096 916 180 1,063

2,401 1,583 993 590 818

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

22 14 12 2 7

134 37 34 3 97

51 40 24 16 11

148 125 46 80 23

231 178 102 76 53

300 228 97 131 72

855 247 116 131 608

940 256 144 111 684

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

37 32 31 1 5

24 17 15 2 7

77 70 33 37 7

88 77 30 47 11

67 55 35 21 12

80 67 33 35 13

948 77 42 35 871

952 103 50 53 848

323 141 182 55 57 -2 127

316 8 308 260 233 27 48

924 171 753 230 193 36 523

697 216 481 355 162 193 126

262 311 -49 310 312 -2 -359

2,360 401 1,959 1,891 50 1,842 68

1,300 784 517 504 49 455 13

1,409 835 574 613 479 134 -39

130 ..

4,476 ..

4,594 2

3,987 ..

2,900 ..

3,353 1

4,485 0

5,293 0

.. 64.4

14.0 51.4

22.7 50.9

21.4 51.5

27.1 51.4

27.2 50.5

26.2 50.0

23.3 56.0

4,987 2,174 57 2,415 317 -168 680

11,599 8,341 623 8,658 1,582 167 1,178

27,970 22,683 1,268 14,669 4,995 9,019 4,273

43,586 32,484 1,518 17,082 5,401 16,453 6,467

40,772 23,311 1,255 13,858 3,664 10,175 5,364

49,437 28,910 1,410 14,379 3,815 15,040 6,409

56,402 38,058 1,893 21,586 5,488 17,145 10,274

59,543 37,837 1,990 22,811 4,906 14,977 11,277

70.1 30.6 6.4 10.2 20.4 44.6 3.4

25.4 18.3 2.7 8.8 28.5 55.6 1.6

16.4 13.3 0.8 28.0 25.2 114.6 3.5

13.8 10.2 0.9 26.2 25.1 144.8 4.5

20.4 11.7 1.4 17.0 30.6 112.8 4.6

24.5 14.3 1.4 12.4 24.7 90.3 5.3

22.0 14.8 4.8 10.6 26.6 122.8 5.7

25.7 16.3 5.1 8.8 28.9 116.1 5.9

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data are World Bank staff estimates based on the market data. Short-term debt is based on data from the BIS.

51


BANGLADESH (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

15,596 14,985 334 0 277

18,449 17,385 688 16 376

21,373 19,428 1,370 4 575

22,952 20,300 1,894 1 758

24,619 21,210 1,934 1 1,475

25,752 21,400 2,949 2 1,403

27,326 22,350 3,705 2 1,271

26,130 23,251 1,667 2 1,213

14,985 14,985 14,809 176 ..

17,385 17,385 17,209 176 ..

19,428 19,428 19,288 140 ..

20,300 20,300 20,237 63 ..

21,210 21,210 21,160 50 ..

21,400 21,400 21,367 33 ..

22,350 22,350 22,328 22 ..

23,251 23,251 23,237 13 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

861 861 794 67 ..

878 878 878 0 ..

1,080 1,080 1,080 0 ..

1,732 1,732 1,732 0 ..

1,499 1,499 1,499 0 ..

982 982 982 0 ..

1,028 1,028 1,028 0 ..

2,091 2,091 2,091 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

487 487 465 22 ..

566 566 551 16 ..

735 735 719 17 ..

632 632 612 20 ..

703 703 691 13 ..

743 743 732 11 ..

1,050 1,050 1,039 11 ..

988 988 980 9 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

165 165 156 9 ..

197 197 195 2 ..

180 180 178 2 ..

203 203 200 2 ..

197 197 196 1 ..

201 201 199 2 ..

258 258 257 1 ..

296 296 295 1 ..

368 244 125 45 45 .. 80

370 425 -56 -16 -16 .. -40

532 361 171 -17 -17 .. 188

1,826 1,319 507 -20 -20 .. 527

812 785 27 -13 -13 .. 40

1,207 204 1,003 -11 -11 .. 1,014

603 -142 745 -11 -11 .. 756

-995 1,052 -2,047 -9 -9 .. -2,039

280 1

813 20

653 153

1,010 -48

733 -153

918 0

1,138 -16

1,178 91

.. 44.3

0.7 50.7

0.9 51.9

0.7 52.4

0.7 53.4

0.6 52.6

0.5 50.5

0.6 51.7

48,857 7,293 1,968 10,018 149 -306 1,486

63,355 10,537 4,315 15,487 661 -176 2,767

73,523 14,150 6,562 20,581 903 857 5,183

86,607 17,654 8,941 26,286 840 986 5,689

97,485 17,083 10,521 24,507 1,105 3,556 10,219

109,695 21,764 10,850 31,037 1,210 2,106 10,564

122,091 27,145 12,071 39,553 1,298 -165 8,510

126,976 27,764 14,085 39,609 1,572 2,648 12,031

213.9 31.9 10.5 2.1 70.5 9.5 1.8

175.1 29.1 7.6 3.7 76.1 15.0 2.1

151.0 29.1 7.0 6.4 76.3 24.3 3.0

130.0 26.5 5.0 8.3 75.4 24.8 2.6

144.1 25.3 5.6 7.9 74.6 41.5 5.0

118.3 23.5 4.7 11.5 71.7 41.0 4.1

100.7 22.4 5.5 13.6 68.4 31.1 2.6

94.1 20.6 5.4 6.4 74.7 46.0 3.6

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Historical short-term debt until 2011 is based on data from the BIS.

52


BELARUS (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

2,604 771 1,239 14 594

5,284 1,254 3,503 1 527

12,488 4,544 7,361 2 583

15,122 6,996 7,558 2 568

22,054 9,528 9,076 3 3,449

28,397 12,470 11,864 4 4,063

33,926 16,430 13,446 4 4,050

34,173 18,511 12,075 4 3,588

Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

771 673 384 289 98

1,254 769 552 217 485

4,544 3,419 2,066 1,354 1,125

6,996 5,407 3,539 1,868 1,589

9,528 6,217 4,689 1,529 3,311

12,470 7,999 5,725 2,274 4,471

16,430 10,609 8,380 2,228 5,821

18,511 12,559 7,303 5,256 5,952

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

237 131 13 118 106

647 252 188 64 395

3,632 2,817 1,596 1,220 815

3,306 2,165 1,563 602 1,141

1,984 1,264 1,254 10 720

3,810 2,679 1,580 1,099 1,132

5,406 3,926 2,826 1,100 1,479

3,542 2,223 1,050 1,173 1,320

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

193 121 39 82 71

508 175 92 83 333

755 250 96 154 505

850 175 95 80 675

1,275 450 97 352 825

1,257 455 108 347 802

2,339 1,310 167 1,143 1,029

3,412 2,649 2,551 97 763

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

37 36 17 19 1

53 37 16 21 15

80 48 29 18 33

236 180 158 21 56

185 114 96 17 71

208 127 114 14 80

572 460 312 148 112

851 729 431 298 121

-87 -81 -6 70 36 35 -76

696 87 608 42 -19 61 566

5,858 1,501 4,357 1,376 1,066 311 2,981

2,654 1,468 1,185 988 521 466 198

5,051 3,982 1,069 -448 -343 -105 1,517

6,008 2,141 3,867 1,081 752 329 2,786

4,648 2,659 1,990 408 -42 450 1,582

-1,704 -1,965 262 1,632 1,075 556 -1,370

119 1

307 1

1,807 5

2,188 1

1,877 1

1,393 1

4,002 0

1,464 -4

.. 47.7

14.4 71.5

6.0 90.9

2.4 95.8

5.7 92.1

5.3 81.2

3.9 85.7

3.1 95.3

12,690 7,667 139 8,160 5 -338 350

30,220 17,705 199 17,411 135 459 1,137

44,865 27,149 288 30,331 435 -3,013 3,952

59,976 36,878 583 42,007 682 -4,959 2,687

48,157 24,818 504 31,224 872 -6,133 4,831

54,058 29,805 575 38,402 1,039 -8,280 3,431

63,537 47,242 891 49,812 1,186 -5,053 6,011

61,751 52,777 1,053 51,242 1,258 -1,688 5,809

34.0 20.5 4.9 47.6 7.7 13.5 0.5

29.8 17.5 3.9 66.3 1.3 21.5 0.8

46.0 27.8 4.0 58.9 0.3 31.6 1.6

41.0 25.2 3.3 50.0 0.3 17.8 0.8

88.9 45.8 6.5 41.2 1.2 21.9 1.9

95.3 52.5 5.8 41.8 1.0 12.1 1.1

71.8 53.4 6.8 39.6 7.8 17.7 1.4

64.8 55.3 9.5 35.3 6.5 17.0 1.4

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

53


BELIZE (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

528 455 50 0 23

989 956 7 7 26

1,049 1,013 7 7 28

1,252 1,217 7 7 28

1,271 1,226 10 10 35

1,287 1,245 7 7 35

1,261 1,219 8 8 35

1,241 1,190 19 19 32

Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

455 455 228 226 ..

956 956 348 608 ..

1,013 1,013 391 622 ..

1,217 998 386 612 219

1,226 1,017 412 605 209

1,245 1,002 402 600 243

1,219 1,001 406 595 218

1,190 984 412 573 206

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

195 195 27 169 ..

213 213 48 165 ..

604 604 63 541 ..

109 41 40 2 68

79 66 65 1 13

39 32 32 0 7

54 36 36 0 18

38 37 37 0 1

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

41 41 20 21 ..

152 152 21 131 ..

582 582 88 493 ..

84 49 38 11 35

66 47 39 9 18

66 46 41 5 20

69 37 32 5 32

67 54 31 22 13

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

22 22 12 11 ..

70 70 15 54 ..

61 61 19 42 ..

57 45 17 28 12

54 43 15 28 11

56 45 13 32 11

57 46 10 36 11

49 40 9 31 9

153 7 146 147 147 .. -1

61 27 34 34 34 .. ..

23 -26 48 48 48 .. ..

25 2 23 23 -10 33 ..

21 33 -13 -13 -7 -6 ..

-26 -9 -17 -17 -5 -12 ..

-15 3 -18 -18 -5 -14 ..

-31 3 -35 -35 -22 -12 ..

23 ..

127 ..

140 ..

170 2

109 ..

96 ..

95 ..

194 ..

.. 90.9

1.7 96.3

1.6 96.8

1.1 97.4

1.0 97.7

0.9 97.9

0.8 97.8

0.7 98.0

775 441 26 661 31 -162 123

1,000 622 45 824 35 -151 71

1,118 823 73 969 87 -52 109

1,198 872 76 1,129 107 -145 166

1,241 733 79 895 56 -83 214

1,240 834 78 972 102 -46 218

1,322 949 75 1,052 40 -20 237

.. 1,047 76 1,150 68 -27 289

119.6 68.1 15.3 9.5 26.3 23.3 2.2

159.0 98.8 35.7 0.7 22.7 7.2 1.0

127.4 93.8 78.1 0.7 23.2 10.3 1.3

143.5 104.5 16.2 0.6 18.4 13.3 1.8

173.4 102.4 16.3 0.7 19.7 16.8 2.9

154.3 103.8 14.6 0.5 19.7 16.9 2.7

132.9 95.4 13.3 0.6 20.5 18.8 2.7

118.5 .. 11.3 1.5 21.5 23.3 3.0

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data are revised from 2008 based on reports obtained from the Central Bank.

54


BENIN (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,400 1,237 66 1 96

1,552 1,445 41 2 66

771 747 5 5 19

976 850 89 4 37

1,319 974 213 32 132

1,599 1,113 341 25 146

1,870 1,196 497 28 177

2,055 1,304 542 47 210

1,237 1,237 1,234 3 ..

1,445 1,445 1,445 0 ..

747 747 747 0 ..

850 850 850 0 ..

974 974 974 0 ..

1,113 1,113 1,113 0 ..

1,196 1,196 1,196 0 ..

1,304 1,304 1,304 0 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

39 39 39 0 ..

97 97 97 0 ..

159 159 159 0 ..

143 143 143 0 ..

142 142 142 0 ..

184 184 184 0 ..

116 116 116 0 ..

116 116 116 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

43 43 43 0 ..

24 24 20 4 ..

18 18 18 0 ..

16 16 16 0 ..

25 25 25 0 ..

25 25 25 0 ..

29 29 29 0 ..

39 39 39 0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

16 16 16 0 ..

14 14 14 0 ..

10 10 10 0 ..

41 41 41 0 ..

12 12 12 0 ..

13 13 13 0 ..

13 13 13 0 ..

16 16 16 0 ..

-54 -6 -48 0 0 .. -48

82 71 11 -4 -4 .. 15

103 142 -39 0 0 .. -39

231 146 85 0 0 .. 85

229 133 96 0 0 .. 96

309 175 134 0 0 .. 134

274 120 154 0 0 .. 154

135 109 26 0 0 .. 26

60 0

-9 2

139 5

48 -2

-19 9

53 5

161 ..

159 ..

.. 54.8

4.4 50.6

3.9 28.0

3.2 24.5

5.4 21.9

9.9 20.3

9.5 19.3

10.1 18.0

2,347 552 87 744 -1 -81 459

4,340 797 147 1,188 9 -226 655

5,497 1,386 240 2,188 53 -534 1,209

6,622 1,675 207 2,456 30 -536 1,263

6,552 1,489 126 2,310 32 -649 1,230

6,505 1,707 139 2,393 55 -530 1,200

7,260 .. .. .. .. -512 887

7,512 .. .. .. .. .. 713

253.6 59.6 13.6 4.7 69.2 32.8 7.4

194.6 35.8 6.0 2.6 87.4 42.2 6.6

55.7 14.0 2.2 0.6 77.3 156.8 6.6

58.3 14.7 3.7 9.2 70.9 129.4 6.2

88.6 20.1 3.6 16.2 61.0 93.2 6.4

93.7 24.6 3.3 21.3 58.3 75.0 6.0

.. 25.8 .. 26.6 53.3 47.5 ..

.. 27.4 .. 26.4 53.4 34.7 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Data include the effects of Paris Club debt restructuring agreement and HIPC and MDRI debt relief.

55


BHUTAN (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

212 202 2 0 8

658 637 12 4 9

803 775 18 0 9

695 678 8 0 9

761 747 5 0 9

907 892 6 0 9

1,048 1,031 8 0 9

1,459 1,350 100 0 9

202 202 202 0 ..

637 637 637 0 ..

775 775 775 0 ..

678 678 678 0 ..

747 747 747 0 ..

892 892 892 0 ..

1,031 1,021 1,021 0 10

1,350 1,342 1,342 0 8

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

35 35 35 0 ..

82 82 82 0 ..

32 32 32 0 ..

32 32 32 0 ..

92 92 92 0 ..

178 178 178 0 ..

270 260 260 0 10

409 409 409 0 0

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

5 5 5 0 ..

5 5 5 0 ..

24 24 24 0 ..

43 43 43 0 ..

41 41 41 0 ..

47 47 47 0 ..

45 45 45 0 0

69 67 67 0 2

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

2 2 2 0 ..

2 2 2 0 ..

7 7 7 0 ..

38 38 38 0 ..

34 34 34 0 ..

37 37 37 0 ..

37 37 37 0 0

58 57 57 0 0

30 30 0 0 0 .. 0

85 77 8 0 0 .. 8

10 8 2 0 0 .. 2

-22 -12 -10 0 0 .. -10

48 51 -3 0 0 .. -3

132 131 1 0 0 .. 1

227 215 12 10 0 10 2

432 342 90 -2 0 -2 92

.. ..

6 ..

74 ..

3 ..

7 ..

19 ..

26 ..

10 ..

.. 17.7

9.6 18.2

11.1 19.0

11.6 22.9

11.5 24.0

10.1 22.3

8.9 23.4

7.2 17.9

439 .. .. .. .. .. 318

807 .. .. .. .. .. 467

1,180 658 3 608 1 145 699

1,222 686 4 832 3 -28 765

1,219 591 5 731 -1 -14 891

1,497 625 8 1,006 4 -142 1,002

1,729 761 10 1,395 4 -410 790

1,675 711 18 1,304 0 -350 955

.. 48.2 .. 0.7 47.6 150.1 ..

.. 81.5 .. 1.9 26.9 71.1 ..

122.0 68.0 4.9 2.2 27.9 87.1 13.8

101.2 56.8 11.9 1.2 34.3 110.1 11.0

128.7 62.4 12.8 0.7 37.6 117.0 14.6

145.2 60.6 13.5 0.7 36.5 110.4 12.0

137.8 60.6 10.8 0.8 36.7 75.3 6.8

205.2 87.1 17.8 6.9 29.8 65.4 8.8

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months) Notes: Short-term debt is based on data from the BIS.

56


BOLIVIA, PLURINATIONAL STATE OF (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

5,885 5,228 402 2 255

6,961 6,497 182 0 282

5,421 4,823 555 0 42

5,936 5,377 518 0 41

6,021 5,196 568 0 257

6,050 5,170 628 0 253

6,474 5,587 635 0 252

6,909 5,937 720 0 252

5,228 4,201 4,168 33 1,026

6,497 4,583 4,556 27 1,914

4,823 2,202 2,166 36 2,621

5,377 2,409 2,312 97 2,969

5,196 2,549 2,457 92 2,647

5,170 2,812 2,788 24 2,358

5,587 3,414 3,325 89 2,173

5,937 4,142 3,622 520 1,795

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

745 277 264 13 468

880 434 429 4 447

912 319 308 10 593

1,263 590 524 67 673

512 415 408 7 97

552 522 519 3 30

776 776 709 67 0

1,250 1,250 683 567 0

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

438 157 153 4 281

316 185 183 2 131

525 166 162 4 360

767 376 371 5 392

454 197 184 13 257

568 247 177 70 322

358 173 171 2 185

548 402 400 2 146

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

160 113 112 1 47

159 100 100 0 59

194 103 103 0 91

175 98 98 1 77

119 71 67 4 48

76 54 50 4 22

78 57 54 4 20

80 65 65 0 14

291 105 186 196 9 187 -10

448 220 227 318 2 316 -91

707 132 575 240 6 233 335

459 153 306 343 62 281 -37

108 224 -116 -166 -6 -161 50

44 342 -299 -359 -67 -292 60

425 538 -113 -120 65 -185 7

787 283 504 419 564 -146 85

736 ..

-239 ..

366 ..

512 ..

423 ..

622 ..

859 ..

1,060 ..

.. 44.3

1.5 75.1

4.2 76.2

3.6 79.4

3.1 81.8

2.7 84.6

2.2 86.7

1.8 89.1

8,172 1,610 127 2,443 148 -446 926

9,173 3,401 337 3,362 271 622 1,328

12,631 5,325 1,055 4,999 644 1,591 4,554

16,138 7,369 1,135 6,661 681 1,993 6,927

16,666 5,663 1,058 6,062 769 814 7,584

18,786 6,919 960 7,126 863 874 8,134

22,788 9,260 1,043 9,900 977 537 9,911

25,406 12,332 1,111 11,460 1,649 2,138 11,659

365.6 72.0 39.8 6.8 48.7 15.7 4.6

204.7 75.9 15.7 2.6 60.6 19.1 4.7

101.8 42.9 14.1 10.2 31.3 84.0 10.9

80.6 36.8 13.0 8.7 30.5 116.7 12.5

106.3 36.1 10.5 9.4 32.8 126.0 15.0

87.4 32.2 9.6 10.4 37.4 134.4 13.7

69.9 28.4 4.9 9.8 40.1 153.1 12.0

56.0 27.2 5.3 10.4 43.6 168.7 12.2

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Data include the effects of HIPC and MDRI debt relief.

57


BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

2,800 2,619 49 1 131

6,378 5,326 960 0 91

9,250 7,528 1,687 0 35

9,815 8,876 907 0 32

11,328 9,111 1,678 0 539

9,935 8,128 1,038 0 769

10,165 8,091 1,308 0 766

10,577 8,427 1,262 0 888

2,619 1,957 1,832 125 663

5,326 2,559 2,404 155 2,767

7,528 2,967 2,772 195 4,561

8,876 3,008 2,808 200 5,868

9,111 3,570 3,042 527 5,541

8,128 3,733 3,267 466 4,395

8,091 3,874 3,451 423 4,216

8,427 4,202 3,798 404 4,225

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

103 98 98 0 5

540 153 153 0 386

1,023 150 138 12 873

471 189 163 26 282

394 321 309 12 73

510 441 427 14 69

491 382 370 12 108

526 449 432 17 77

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

170 170 170 0 1

95 54 51 3 41

109 79 72 7 30

137 91 82 9 46

171 110 97 13 61

537 145 108 37 392

594 171 129 43 423

758 167 124 43 591

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

119 89 86 2 30

136 53 48 6 83

217 70 63 6 147

257 80 70 10 176

217 63 56 8 153

177 55 47 9 121

186 66 55 11 120

183 65 56 9 118

-41 -56 15 4 .. 4 11

1,052 63 989 342 -3 346 647

1,411 47 1,364 848 5 843 516

-448 79 -526 254 17 236 -780

1,276 494 782 11 -1 12 771

-429 556 -985 -345 -23 -322 -640

166 241 -75 -345 -30 -315 270

-158 428 -586 -540 -26 -514 -46

146 ..

624 ..

1,804 ..

1,005 ..

139 ..

444 ..

469 ..

350 ..

.. 27.6

34.0 41.2

38.2 40.0

39.1 39.0

48.8 32.8

50.8 30.9

53.0 29.4

57.5 26.7

6,096 2,247 1,607 4,234 .. -396 497

11,416 4,227 2,038 8,103 97 -1,844 2,548

15,740 5,181 2,686 9,336 345 -1,412 5,042

19,213 6,190 2,718 11,706 187 -2,640 4,480

17,661 5,189 2,127 8,704 -104 -1,136 4,529

17,054 5,492 1,822 8,910 79 -1,029 4,366

18,470 6,386 1,958 10,681 272 -1,803 4,150

17,323 5,783 1,849 9,775 205 -1,633 4,283

124.6 45.9 14.2 1.8 45.2 17.7 1.4

150.9 55.9 7.3 15.1 26.8 39.9 3.8

178.5 58.8 8.3 18.2 21.0 54.5 6.5

158.6 51.1 7.7 9.2 20.2 45.6 4.6

218.3 64.1 9.1 14.8 19.4 40.0 6.2

180.9 58.3 14.6 10.4 24.3 43.9 5.9

159.2 55.0 13.6 12.9 25.1 40.8 4.7

182.9 61.1 18.4 11.9 27.2 40.5 5.3

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data from 2005 are World Bank staff estimates. Short-term debt is based on data from the BIS.

58


BOTSWANA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

458 438 15 0 6

454 412 35 0 6

420 391 22 0 7

440 391 43 0 7

1,707 1,388 229 0 90

1,797 1,352 357 0 88

2,396 1,897 411 0 88

2,488 2,015 385 0 88

438 438 410 28 ..

412 412 401 12 ..

391 391 384 7 ..

391 391 389 2 ..

1,388 1,388 1,387 2 ..

1,352 1,352 1,351 1 ..

1,897 1,897 1,896 1 ..

2,015 2,015 1,935 80 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

28 28 24 4 ..

11 11 11 0 ..

50 50 50 0 ..

54 54 54 0 ..

1,006 1,006 1,006 0 ..

17 17 17 0 ..

595 595 595 0 ..

149 149 69 80 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

52 52 45 7 ..

40 40 38 2 ..

37 37 35 2 ..

61 61 56 5 ..

36 36 35 1 ..

56 56 55 1 ..

51 51 51 0 ..

28 28 27 1 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

15 15 14 1 ..

12 12 11 0 ..

9 9 9 0 ..

7 7 7 0 ..

9 9 9 0 ..

16 16 16 0 ..

16 16 16 0 ..

20 20 20 0 ..

-29 -21 -8 -3 -3 .. -5

-17 -27 11 -2 -2 .. 13

11 16 -4 -2 -2 .. -2

15 -1 16 -5 -5 .. 21

1,156 971 186 -1 -1 .. 186

89 -38 128 -1 -1 .. 128

598 544 54 0 0 .. 54

94 42 53 79 79 .. -26

57 -6

279 27

495 9

521 -37

129 18

-6 11

414 -17

293 -9

.. 18.0

6.9 20.5

8.0 18.3

7.2 24.9

2.0 7.7

0.3 8.1

0.2 8.1

0.2 13.3

5,280 3,378 26 3,050 658 545 6,318

9,420 5,739 118 4,737 1,066 1,634 6,309

10,201 6,536 92 5,995 1,075 1,654 9,790

10,481 5,475 47 6,637 1,045 54 9,119

10,077 3,989 15 5,549 207 -708 8,704

13,690 5,172 22 6,533 204 -192 7,885

15,811 7,198 20 7,931 -125 359 8,082

14,020 6,574 16 9,045 428 -795 7,628

13.6 8.7 2.0 3.3 64.9 1,378.2 24.9

7.9 4.8 0.9 7.7 57.8 1,391.1 16.0

6.4 4.1 0.7 5.2 57.2 2,331.0 19.6

8.0 4.2 1.3 9.8 56.2 2,070.1 16.5

42.8 16.9 1.2 13.4 73.3 509.8 18.8

34.7 13.1 1.5 19.9 68.0 438.8 14.5

33.3 15.2 1.0 17.2 74.9 337.3 12.2

37.8 17.7 0.8 15.5 74.3 306.6 10.1

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months) Notes: Short-term debt is based on data from the BIS.

59


BRAZIL (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

242,512 209,303 30,973 176 2,235

188,365 163,859 23,993 0 513

238,444 198,632 39,246 0 567

262,951 225,755 36,644 0 552

281,648 237,336 39,786 0 4,526

352,364 282,425 65,492 0 4,446

404,046 357,473 42,140 0 4,432

440,478 403,458 32,583 0 4,437

209,303 96,622 29,845 66,776 112,682

163,859 94,354 26,160 68,194 69,505

198,632 79,870 26,406 53,464 118,762

225,755 79,912 29,269 50,643 145,842

237,336 87,510 32,595 54,916 149,826

282,425 97,485 41,460 56,025 184,940

357,473 94,712 36,516 58,195 262,761

403,458 116,628 38,959 77,669 286,830

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

44,079 19,664 5,272 14,391 24,415

27,414 13,207 3,327 9,880 14,207

59,915 6,285 2,065 4,220 53,630

69,559 16,696 4,353 12,342 52,863

57,675 13,732 6,845 6,887 43,943

85,379 19,957 11,317 8,640 65,422

111,458 13,655 3,250 10,405 97,803

79,610 27,958 4,985 22,973 51,652

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

34,746 10,932 7,093 3,839 23,813

25,788 9,481 3,334 6,147 16,306

40,466 14,124 2,294 11,829 26,343

40,353 16,351 2,402 13,949 24,002

30,470 7,784 3,447 4,338 22,685

32,024 9,626 2,662 6,965 22,398

41,777 15,851 8,349 7,502 25,925

30,597 6,696 2,316 4,379 23,901

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

15,297 6,943 1,932 5,010 8,355

10,314 6,700 1,058 5,642 3,614

13,034 7,078 1,361 5,717 5,956

15,046 6,057 1,291 4,766 8,989

13,554 5,656 1,083 4,573 7,898

13,157 5,172 967 4,205 7,985

16,615 5,446 1,012 4,434 11,169

14,259 5,019 962 4,057 9,240

4,471 -8,514 12,985 11,154 10,552 602 1,831

-23,457 -23,817 360 1,634 3,733 -2,099 -1,274

38,372 -230 38,602 19,679 -7,609 27,288 18,923

26,604 1,951 24,653 27,255 -1,606 28,861 -2,602

30,347 3,399 26,948 23,806 2,549 21,257 3,142

79,061 8,655 70,406 44,699 1,675 43,024 25,706

46,329 -5,099 51,428 74,780 2,902 71,878 -23,352

39,456 2,668 36,787 46,345 18,594 27,750 -9,557

32,779 3,076

15,460 6,451

44,579 26,217

50,716 -7,565

31,481 37,071

53,345 37,671

71,539 7,174

76,111 5,600

.. 70.0

9.4 79.1

9.8 80.5

9.0 80.3

7.2 84.0

6.1 85.2

4.3 88.2

5.1 87.5

626,889 68,205 1,649 93,950 4,238 -24,225 32,434

856,883 136,200 2,805 125,773 11,035 13,985 53,245

1,338,704 196,096 3,306 198,574 19,692 1,551 179,433

1,614,398 240,904 3,643 273,320 28,773 -28,192 192,844

1,588,117 189,564 2,889 217,207 21,029 -24,306 237,364

2,104,366 240,920 2,754 291,094 26,584 -47,273 287,056

2,429,947 305,002 2,798 360,466 31,716 -52,480 350,356

2,217,452 293,331 2,583 350,424 24,564 -54,246 369,566

355.6 38.7 85.9 12.8 7.8 13.4 4.1

138.3 22.0 46.2 12.7 10.4 28.3 5.1

121.6 17.8 28.1 16.5 9.6 75.3 10.8

109.2 16.3 23.5 13.9 9.4 73.3 8.5

148.6 17.7 23.5 14.1 8.9 84.3 13.1

146.3 16.7 19.0 18.6 8.5 81.5 11.8

132.5 16.6 19.4 10.4 6.2 86.7 11.7

150.2 19.9 15.5 7.4 6.3 83.9 12.7

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

60


BULGARIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

12,009 8,440 1,451 1 2,118

16,573 10,597 4,442 0 1,533

33,958 18,957 14,036 0 965

49,544 30,269 18,334 0 941

54,456 34,921 18,578 0 958

49,018 32,704 15,373 0 941

47,235 33,391 12,907 0 938

50,750 36,050 13,761 0 939

8,440 7,671 2,603 5,068 769

10,597 5,075 3,045 2,030 5,522

18,957 5,268 3,362 1,906 13,689

30,269 4,397 3,019 1,378 25,871

34,921 4,772 3,322 1,450 30,148

32,704 4,466 3,152 1,314 28,238

33,391 4,138 3,141 997 29,253

36,050 5,210 3,096 2,114 30,840

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

719 405 381 24 313

3,710 402 383 19 3,308

7,740 368 361 7 7,372

15,545 370 362 8 15,175

8,191 520 520 0 7,671

1,499 200 200 0 1,299

10,804 292 292 0 10,511

5,987 1,439 229 1,211 4,547

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

573 345 297 48 229

2,909 1,761 255 1,507 1,147

2,686 404 299 105 2,282

3,641 733 715 19 2,908

3,817 404 266 138 3,413

3,381 268 261 7 3,113

3,597 258 251 7 3,338

3,715 263 263 0 3,452

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

456 424 139 285 32

445 327 93 234 118

618 300 129 171 318

864 292 148 144 572

770 208 106 102 562

586 177 71 106 408

785 188 83 105 598

749 161 82 79 587

465 221 244 61 -24 85 183

1,564 -315 1,879 673 -1,488 2,161 1,206

10,704 -285 10,989 4,992 -98 5,090 5,996

16,202 -352 16,554 12,257 -11 12,267 4,298

4,617 254 4,363 4,119 -138 4,258 244

-5,087 -61 -5,025 -1,820 -7 -1,813 -3,205

4,741 41 4,700 7,166 -7 7,173 -2,466

3,126 -34 3,160 2,306 1,211 1,095 855

1,002 5

4,098 449

13,875 89

10,297 -106

3,897 8

1,867 9

2,124 -42

2,095 5

.. 80.1

48.4 44.9

51.7 40.0

51.7 34.6

56.8 30.4

56.1 29.2

58.5 26.2

72.0 18.0

12,580 7,321 58 8,314 107 -703 3,155

28,979 17,674 1,613 22,034 912 -3,347 8,041

38,878 27,487 1,694 39,909 3,742 -11,437 16,478

49,257 31,897 1,919 45,096 2,725 -11,875 16,816

46,903 24,384 1,592 29,966 1,823 -4,256 17,127

46,226 27,944 1,333 30,711 1,573 -796 15,421

51,024 36,606 1,483 38,836 2,521 133 15,252

49,304 34,905 1,449 38,311 2,054 -735 18,371

164.0 95.5 18.2 12.1 12.8 26.3 4.6

93.8 57.2 22.6 26.8 14.8 48.5 4.4

123.5 87.3 15.4 41.3 7.9 48.5 5.0

155.3 100.6 16.5 37.0 4.4 33.9 4.5

223.3 116.1 21.9 34.1 4.6 31.5 6.9

175.4 106.0 14.4 31.4 4.8 31.5 6.0

129.0 92.6 12.2 27.3 5.0 32.3 4.7

145.4 102.9 13.0 27.1 4.8 36.2 5.8

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data from 2008 are World Bank staff estimates based on reports provided by the country. The data may include long-term public and publicly guaranteed debt owed by the state-owned railway. Short-term debt is based on Central Bank data.

61


BURKINA FASO (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,435 1,226 84 5 124

2,000 1,861 22 0 117

1,465 1,258 155 0 52

1,685 1,506 110 0 69

1,917 1,716 0 0 201

2,173 1,931 25 0 217

2,414 2,050 131 0 233

2,506 2,205 0 0 301

1,226 1,226 1,223 3 ..

1,861 1,861 1,861 0 ..

1,258 1,258 1,232 26 ..

1,506 1,506 1,484 22 ..

1,716 1,716 1,694 22 ..

1,931 1,931 1,913 18 ..

2,050 2,050 2,035 15 ..

2,205 2,205 2,192 13 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

91 91 91 0 ..

208 208 208 0 ..

231 231 217 14 ..

293 293 293 0 ..

217 217 217 0 ..

276 276 276 0 ..

162 162 162 0 ..

154 154 154 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

26 26 26 0 ..

24 24 24 0 ..

25 25 22 3 ..

27 27 24 3 ..

28 28 28 0 ..

30 30 27 2 ..

43 43 40 3 ..

43 43 41 2 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

12 12 12 0 ..

16 16 16 0 ..

12 12 12 0 ..

14 14 14 0 ..

15 15 15 0 ..

18 18 18 0 ..

21 21 21 0 ..

21 21 21 0 ..

47 66 -19 0 0 .. -19

194 196 -2 0 0 .. -2

273 196 77 11 11 .. 66

239 287 -48 -3 -3 .. -45

134 244 -110 0 0 .. -110

291 269 23 -2 -2 .. 25

242 139 103 -3 -3 .. 106

48 181 -133 -2 -2 .. -131

23 -3

52 -4

22 -1

33 -2

56 0

39 3

42 ..

40 ..

.. 59.4

1.5 56.9

6.4 40.0

12.7 36.8

12.4 36.0

12.0 34.0

11.9 32.8

11.8 31.5

2,606 251 67 691 3 -319 243

5,442 583 57 1,452 7 -634 438

6,754 804 84 1,767 11 -560 1,029

8,348 1,069 99 2,442 38 -963 928

8,343 1,140 96 2,035 35 -380 1,296

9,203 1,981 120 2,655 26 -181 1,068

10,392 .. .. .. .. .. 957

10,454 .. .. .. .. .. 1,025

572.8 55.1 18.8 5.9 71.4 16.9 4.2

343.0 36.8 7.8 1.1 84.6 21.9 3.6

182.3 21.7 5.2 10.6 66.9 70.2 7.0

157.6 20.2 4.2 6.5 71.1 55.1 4.6

168.1 23.0 3.8 .. 73.2 67.6 7.6

109.7 23.6 2.5 1.2 74.1 49.1 4.8

.. 23.2 .. 5.4 72.1 39.6 ..

.. 24.0 .. .. 75.7 40.9 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include HIPC and MDRI debt relief.

62


BURUNDI (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,125.9 1,036.0 65.0 19.7 24.9

1,287.9 1,176.1 34.1 33.1 77.7

1,409.7 1,276.1 13.8 12.8 119.9

1,390.3 1,234.3 18.0 4.0 138.0

602.2 388.5 7.0 0.0 206.7

615.8 376.8 15.6 0.6 223.4

599.1 358.2 0.1 0.1 240.7

662.7 407.0 7.0 0.0 248.7

1,036.0 1,036.0 1,032.0 4.0 ..

1,176.1 1,176.1 1,174.0 2.1 ..

1,276.1 1,276.1 1,275.4 0.7 ..

1,234.3 1,234.3 1,234.3 0.0 ..

388.5 388.5 388.5 0.0 ..

376.8 376.8 376.8 0.0 ..

358.2 358.2 358.2 0.0 ..

407.0 407.0 407.0 0.0 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

41.3 41.3 38.2 3.0 ..

42.1 42.1 42.1 0.0 ..

31.3 31.3 31.3 0.0 ..

24.8 24.8 24.8 0.0 ..

24.3 24.3 24.3 0.0 ..

31.6 31.6 31.6 0.0 ..

28.0 28.0 28.0 0.0 ..

60.2 60.2 60.2 0.0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9.4 9.4 9.4 0.0 ..

27.2 27.2 22.6 4.6 ..

11.3 11.3 11.3 0.0 ..

11.3 11.3 11.3 0.0 ..

8.5 8.5 8.5 0.0 ..

2.4 2.4 2.4 0.0 ..

5.8 5.8 5.8 0.0 ..

9.6 9.6 9.6 0.0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

4.5 4.5 4.5 0.0 ..

11.9 11.9 11.9 0.0 ..

5.7 5.7 5.7 0.0 ..

7.4 7.4 7.4 0.0 ..

3.6 3.6 3.6 0.0 ..

1.4 1.4 1.4 0.0 ..

2.0 2.0 2.0 0.0 ..

3.0 3.0 3.0 0.0 ..

18.4 24.3 -5.9 3.0 3.0 .. -8.9

34.1 40.7 -6.6 -4.6 -4.6 .. -2.0

30.9 30.9 0.0 0.0 0.0 .. ..

48.3 35.3 13.0 0.0 0.0 .. 13.0

22.2 29.2 -7.0 0.0 0.0 .. -7.0

57.3 49.3 8.0 0.0 0.0 .. 8.0

25.8 40.8 -15.0 0.0 0.0 .. -15.0

65.2 58.2 7.0 0.0 0.0 .. 7.0

11.7 ..

0.6 ..

0.5 ..

3.8 ..

0.3 ..

0.8 ..

3.4 ..

0.6 ..

.. 59.4

7.6 64.6

8.0 63.5

6.0 63.4

18.2 35.0

10.1 37.0

0.3 42.9

.. 46.2

882.6 55.4 .. 164.9 0.4 -50.2 32.9

1,135.0 98.7 0.1 343.9 2.1 -5.7 100.1

1,336.0 98.3 0.2 450.8 4.8 -111.3 176.3

1,603.3 163.9 3.6 609.4 .. -259.4 265.7

1,721.4 119.7 28.2 538.0 .. -161.2 322.0

2,015.0 181.9 34.5 618.7 .. -301.0 330.7

2,336.5 243.1 45.5 790.3 .. -283.6 294.0

2,455.6 239.0 46.4 940.6 .. -255.1 307.2

2031.9 127.6 40.9 5.8 79.1 2.9 2.4

1304.3 113.5 40.5 2.6 81.9 7.8 3.5

1434.1 105.5 18.5 1.0 82.8 12.5 4.7

848.5 86.7 12.0 1.3 82.4 19.1 5.2

503.0 35.0 16.6 1.2 50.4 53.5 7.2

338.6 30.6 2.4 2.5 52.8 53.7 6.4

246.4 25.6 4.2 0.0 51.5 49.1 4.5

277.3 27.0 8.5 1.1 50.8 46.4 3.9

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement and HIPC and MDRI debt relief.

63


CAMBODIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

2,648 2,328 227 131 93

3,538 3,155 280 243 103

2,815 2,565 226 164 24

3,269 2,920 325 197 24

3,530 3,127 272 208 132

3,852 3,442 281 215 129

4,430 3,815 486 221 129

5,716 4,549 1,038 209 129

2,328 2,328 2,328 0 ..

3,155 3,155 3,155 0 ..

2,565 2,565 2,565 0 ..

2,920 2,920 2,920 0 ..

3,127 3,127 3,127 0 ..

3,442 3,442 3,442 0 ..

3,815 3,815 3,815 0 ..

4,549 4,549 4,549 0 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

79 79 79 0 ..

168 168 168 0 ..

154 154 154 0 ..

383 383 383 0 ..

211 211 211 0 ..

347 347 347 0 ..

404 404 404 0 ..

779 779 779 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

7 7 7 0 ..

8 8 8 0 ..

13 13 13 0 ..

19 19 19 0 ..

26 26 26 0 ..

33 33 33 0 ..

41 41 41 0 ..

47 47 47 0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

12 12 12 0 ..

12 12 12 0 ..

15 15 15 0 ..

21 21 21 0 ..

22 22 22 0 ..

28 28 28 0 ..

34 34 34 0 ..

44 44 44 0 ..

128 76 52 0 0 .. 52

155 152 3 0 0 .. 3

171 141 30 0 0 .. 30

430 364 66 0 0 .. 66

121 185 -64 0 0 .. -64

315 313 2 0 0 .. 2

562 363 199 0 0 .. 199

1,296 732 564 0 0 .. 564

149 ..

379 ..

867 ..

815 ..

539 ..

783 ..

902 ..

1,557 ..

.. 36.9

0.8 48.5

1.2 86.2

1.1 84.8

1.2 84.2

1.1 82.2

1.0 77.9

0.8 76.3

3,534 1,893 121 2,453 123 -136 502

6,006 4,094 164 4,921 227 -307 953

8,263 4,793 186 5,809 353 -423 1,807

9,844 5,129 188 6,560 403 -820 2,292

9,918 4,576 142 5,932 358 -785 2,851

10,711 5,612 153 7,026 399 -772 3,255

12,108 7,493 160 8,789 586 -712 3,450

13,327 8,629 256 10,320 707 -1,208 4,267

139.9 74.9 1.7 8.6 14.4 18.9 2.5

86.4 58.9 0.8 7.9 29.9 26.9 2.3

58.7 34.1 0.7 8.0 46.1 64.2 3.7

63.7 33.2 0.9 9.9 43.5 70.1 4.2

77.2 35.6 1.1 7.7 42.5 80.8 5.8

68.6 36.0 1.2 7.3 39.7 84.5 5.6

59.1 36.6 1.2 11.0 35.8 77.9 4.7

66.2 42.9 1.5 18.2 28.5 74.7 5.0

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include MDRI debt relief.

64


CAMEROON (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

10,561 9,070 1,224 205 267

7,700 7,059 334 280 307

3,087 2,794 238 39 55

2,827 2,724 41 41 62

3,239 2,784 3 3 453

3,195 2,741 9 9 445

3,074 2,562 70 2 442

3,672 3,074 157 24 440

9,070 8,753 8,436 317 317

7,059 6,467 6,384 83 592

2,794 2,158 2,152 6 636

2,724 2,089 2,083 6 636

2,784 2,168 2,154 14 615

2,741 2,164 2,144 20 577

2,562 2,101 2,078 23 461

3,074 2,706 2,662 45 368

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

286 247 247 0 39

227 130 130 0 98

242 160 160 0 82

276 189 189 0 87

356 147 139 8 209

278 278 272 6 0

141 141 137 5 0

564 564 542 22 0

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

253 166 162 4 86

537 396 396 0 141

366 182 163 19 183

352 160 160 0 192

334 104 104 0 229

154 116 116 0 38

233 122 121 1 111

174 81 80 1 93

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

215 198 198 1 17

228 178 177 1 51

114 71 49 23 42

91 47 47 0 44

57 26 26 0 31

42 27 27 0 15

86 57 56 1 28

60 35 34 1 25

-21 136 -157 -52 -4 -48 -105

-683 -301 -382 -44 .. -44 -339

16 5 11 -120 -19 -102 131

-267 37 -304 -105 0 -105 -199

169 182 -12 -12 8 -20 ..

124 156 -32 -32 6 -38 ..

-25 15 -39 -107 4 -111 68

452 460 -8 -73 20 -93 65

159 0

244 -4

189 -14

21 -1

740 0

538 0

652 0

526 0

.. 23.8

68.0 19.5

73.2 12.3

66.6 14.0

64.4 13.6

54.7 18.7

50.9 18.9

42.9 21.2

8,694 2,694 30 3,021 41 -218 212

16,099 4,248 77 4,977 289 -493 949

19,931 6,314 167 6,472 385 286 2,907

23,323 7,372 162 8,419 165 -450 3,087

22,075 5,438 184 6,835 436 -1,119 3,676

22,224 5,692 115 6,694 166 -856 3,643

25,018 7,648 219 8,654 282 -748 3,199

24,747 7,582 210 8,801 503 -956 3,381

392.0 121.5 20.8 11.6 13.4 2.0 0.8

181.3 47.8 19.3 4.3 20.6 12.3 2.3

48.9 15.5 7.7 7.7 18.2 94.2 5.4

38.4 12.1 6.1 1.4 21.5 109.2 4.4

59.6 14.7 7.2 0.1 21.2 113.5 6.5

56.1 14.4 3.5 0.3 24.6 114.0 6.5

40.2 12.3 4.2 2.3 28.0 104.0 4.4

48.4 14.8 3.1 4.3 30.7 92.1 4.6

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of HIPC and MDRI debt relief.

65


CAPE VERDE (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

320 315 4 4 1

477 463 1 1 13

581 565 1 1 14

626 611 1 1 13

727 700 2 2 25

892 868 2 2 23

1,039 1,017 2 2 20

1,261 1,242 2 2 18

315 315 308 7 ..

463 463 442 22 ..

565 565 550 15 ..

611 611 601 10 ..

700 700 693 6 ..

868 868 816 53 ..

1,017 1,017 944 73 ..

1,242 1,242 1,124 118 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

29 29 29 0 ..

74 74 65 9 ..

51 51 51 0 ..

75 75 75 0 ..

102 102 102 0 ..

208 208 158 50 ..

191 191 165 25 ..

223 223 180 43 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

11 11 10 2 ..

29 29 23 5 ..

23 23 19 4 ..

24 24 20 4 ..

25 25 21 4 ..

26 26 22 3 ..

26 26 24 2 ..

20 20 20 0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

5 5 4 1 ..

7 7 6 1 ..

6 6 6 0 ..

7 7 6 0 ..

7 7 7 0 ..

8 8 8 0 ..

10 10 9 1 ..

13 13 12 2 ..

2 19 -18 -2 -2 .. -16

49 45 4 4 4 .. ..

28 32 -4 -4 -4 .. ..

50 54 -4 -4 -4 .. ..

76 79 -4 -4 -4 .. ..

180 134 46 46 46 .. ..

162 138 23 23 23 .. ..

200 158 43 43 43 .. ..

33 ..

80 ..

192 2

211 ..

127 2

116 ..

102 ..

74 ..

.. 56.2

13.4 54.3

16.1 49.7

18.1 48.5

19.5 43.1

27.3 37.5

33.9 31.5

43.6 26.1

525 151 87 344 5 -58 28

938 373 137 695 11 -41 174

1,300 593 139 1,092 28 -198 364

1,515 738 155 1,259 38 -205 361

1,557 590 137 1,149 26 -247 398

1,586 644 131 1,207 56 -223 382

1,846 796 177 1,459 42 -304 339

1,858 790 167 1,265 23 -209 376

211.8 60.9 10.7 1.2 72.4 8.8 1.0

128.0 50.9 9.6 0.2 78.8 36.4 3.0

97.9 44.7 5.0 0.2 78.5 62.8 4.0

84.8 41.3 4.2 0.2 77.2 57.7 3.4

123.1 46.7 5.7 0.2 73.5 54.8 4.2

138.6 56.3 5.6 0.2 67.0 42.8 3.8

130.5 56.3 4.9 0.1 58.8 32.6 2.8

159.7 67.9 4.6 0.1 50.5 29.8 3.6

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

66


CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

872.1 797.3 41.2 26.1 33.6

1,033.0 877.2 106.6 97.6 49.2

997.4 860.7 72.7 72.7 64.1

990.0 827.0 85.6 73.6 77.4

537.6 293.8 81.7 77.7 162.1

614.2 361.9 79.7 77.7 172.6

547.3 271.2 104.1 71.1 172.0

551.5 288.3 80.3 73.3 182.9

797.3 797.3 764.8 32.6 0.0

877.2 877.2 843.1 34.1 0.0

860.7 860.7 826.0 34.7 0.0

827.0 827.0 792.5 34.5 0.0

293.8 293.8 259.4 34.4 0.0

361.9 361.9 325.3 36.6 0.0

271.2 271.2 244.1 27.1 0.0

288.3 288.3 261.2 27.1 0.0

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

16.1 16.1 16.1 0.0 0.0

0.0 0.0 0.0 0.0 0.0

3.2 3.2 3.2 0.0 0.0

1.9 1.9 1.9 0.0 0.0

18.7 18.7 18.7 0.0 0.0

19.2 19.2 19.2 0.0 0.0

17.1 17.1 17.1 0.0 0.0

18.4 18.4 18.4 0.0 0.0

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

7.5 7.5 7.4 0.0 0.0

0.7 0.7 0.7 0.0 0.0

42.4 42.4 42.4 0.0 0.0

11.3 11.3 11.3 0.0 0.0

8.4 8.4 8.4 0.0 0.0

1.0 1.0 1.0 0.0 0.0

0.8 0.8 0.7 0.1 0.0

2.1 2.1 2.1 0.1 0.0

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

4.3 4.3 4.3 0.0 0.0

0.2 0.2 0.2 0.0 0.0

19.6 19.6 19.6 0.0 0.0

6.1 6.1 6.1 0.0 0.0

3.0 3.0 3.0 0.0 0.0

1.2 1.2 1.2 0.0 0.0

0.2 0.2 0.2 0.0 0.0

1.9 1.9 1.9 0.0 0.0

-13.8 7.8 -21.6 0.0 0.0 0.0 -21.6

-5.6 -5.6 0.0 0.0 0.0 0.0 ..

-43.2 -34.2 -9.0 0.0 0.0 0.0 -9.0

17.9 5.9 12.0 0.0 0.0 0.0 12.0

22.6 30.6 -8.0 0.0 0.0 0.0 -8.0

29.4 31.4 -2.0 0.0 0.0 0.0 -2.0

47.3 16.4 30.9 -0.1 -0.1 0.0 31.0

0.9 26.9 -26.1 -0.1 -0.1 0.0 -26.0

0.9 ..

10.1 ..

56.8 ..

117.1 ..

42.3 ..

61.5 ..

36.9 ..

71.2 ..

.. 61.2

5.9 59.6

6.0 61.0

5.7 62.5

10.4 53.0

12.3 50.3

14.9 49.5

15.2 48.0

901.3 .. .. .. .. -10.7 133.3

1,339.8 .. .. .. .. -91.3 139.2

1,686.6 .. .. .. .. -109.3 82.6

1,960.3 .. .. .. .. -197.8 121.8

1,960.6 .. .. .. .. -142.8 210.6

1,981.5 .. .. .. .. .. 181.2

2,162.9 .. .. .. .. .. 154.5

2,136.6 .. .. .. .. .. 157.9

.. 96.8 .. 4.7 66.9 15.3 ..

.. 77.1 .. 10.3 60.8 13.5 ..

.. 59.1 .. 7.3 60.4 8.3 ..

.. 50.5 .. 8.6 57.7 12.3 ..

.. 27.4 .. 15.2 9.3 39.2 ..

.. 31.0 .. 13.0 6.7 29.5 ..

.. 25.3 .. 19.0 6.4 28.2 ..

.. 25.8 .. 14.6 7.7 28.6 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of HIPC and MDRI debt relief.

67


CHAD (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,101 986 25 10 90

1,598 1,494 11 6 93

1,812 1,712 29 6 71

1,765 1,705 4 4 55

1,830 1,714 4 4 113

1,816 1,708 8 7 99

1,821 1,710 19 7 91

1,831 1,717 27 8 87

986 986 971 15 ..

1,494 1,494 1,462 32 ..

1,712 1,712 1,679 33 ..

1,705 1,705 1,672 33 ..

1,714 1,714 1,682 32 ..

1,708 1,708 1,679 30 ..

1,710 1,710 1,681 29 ..

1,717 1,717 1,688 29 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

46 46 46 0 ..

110 110 110 0 ..

50 50 50 0 ..

97 97 97 0 ..

38 38 38 0 ..

57 57 57 0 ..

55 55 55 0 ..

73 73 73 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

13 13 13 1 ..

24 24 23 1 ..

34 34 33 1 ..

105 105 105 0 ..

43 43 42 1 ..

46 46 44 2 ..

53 53 52 1 ..

57 57 56 1 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

9 9 9 0 ..

16 16 16 0 ..

19 19 18 0 ..

18 18 18 0 ..

23 23 23 0 ..

17 17 17 0 ..

17 17 17 0 ..

16 16 16 0 ..

44 46 -2 -1 -1 .. -2

75 80 -4 -1 -1 .. -3

21 2 18 -1 -1 .. 19

-44 -21 -23 .. .. .. -23

-17 -16 -1 -1 -1 .. ..

2 3 -1 -2 -2 .. 1

5 -5 10 -1 -1 .. 11

19 12 6 -1 -1 .. 7

115 ..

-99 ..

-322 ..

466 ..

376 ..

313 ..

282 ..

323 ..

.. 58.7

3.3 66.1

3.6 64.4

3.3 60.2

3.3 59.8

3.2 58.3

3.2 56.9

3.4 55.4

1,368 .. .. .. .. -214 111

4,277 .. .. .. .. 140 226

5,808 .. .. .. .. -298 955

6,690 .. .. .. .. 258 1,345

6,676 .. .. .. .. -1,339 617

7,850 .. .. .. .. .. 632

9,592 .. .. .. .. .. 951

9,752 .. .. .. .. .. 1,156

.. 80.5 .. 2.2 75.8 10.1 ..

.. 37.3 .. 0.7 83.9 14.1 ..

.. 31.2 .. 1.6 84.3 52.7 ..

.. 26.4 .. 0.2 83.3 76.2 ..

.. 27.4 .. 0.2 81.0 33.7 ..

.. 23.1 .. 0.5 81.7 34.8 ..

.. 19.0 .. 1.1 81.9 52.2 ..

.. 18.8 .. 1.5 80.7 63.1 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt data from 2011 are World Bank staff estimates. Short-term debt is based on data from the BIS. Data include the effects of HIPC debt relief.

68


CHINA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

145,648 132,259 13,080 0 309

281,114 132,508 148,267 0 338

371,721 167,649 203,698 0 374

378,469 190,916 187,188 0 365

445,942 194,475 240,509 0 10,958

559,772 201,484 347,524 0 10,764

710,234 222,592 476,911 0 10,731

754,009 233,674 509,592 0 10,743

132,259 94,470 50,374 44,096 37,789

132,508 82,016 52,421 29,595 50,492

167,649 85,365 58,323 27,042 82,284

190,916 89,142 63,349 25,793 101,774

194,475 92,318 68,358 23,960 102,157

201,484 90,637 67,204 23,433 110,847

222,592 75,176 67,684 7,492 147,416

233,674 74,004 69,464 4,540 159,671

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

19,006 11,924 5,790 6,133 7,082

28,228 8,776 2,170 6,606 19,452

36,907 7,130 3,403 3,727 29,777

38,188 5,449 3,893 1,556 32,739

23,648 6,481 3,310 3,171 17,167

42,423 10,125 4,348 5,777 32,298

46,950 7,785 3,848 3,937 39,165

40,638 6,893 6,671 222 33,746

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

19,362 10,235 4,270 5,965 9,127

20,936 6,659 1,413 5,246 14,277

20,405 5,342 2,949 2,393 15,063

23,959 6,750 2,809 3,940 17,209

33,448 6,473 2,594 3,878 26,976

27,237 8,400 3,643 4,757 18,837

36,277 12,199 5,301 6,898 24,078

35,519 8,132 4,491 3,641 27,387

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

6,064 4,140 2,386 1,754 1,924

3,157 2,140 1,375 765 1,017

5,358 3,131 1,701 1,431 2,227

4,733 2,513 1,407 1,106 2,220

3,045 2,030 1,090 940 1,015

5,316 1,651 944 707 3,665

6,920 1,792 1,070 722 5,127

7,329 2,141 1,832 309 5,188

-2,457 1,520 -3,977 -1,877 168 -2,045 -2,100

39,789 757 39,032 6,535 1,360 5,175 32,497

46,823 454 46,369 16,048 1,334 14,714 30,321

-2,280 1,084 -3,364 13,146 -2,384 15,530 -16,510

43,521 716 42,805 -10,516 -707 -9,809 53,321

122,201 705 121,496 14,481 1,020 13,461 107,015

140,060 -1,453 141,513 12,126 -2,961 15,087 129,387

37,801 2,180 35,621 2,940 -3,419 6,359 32,681

38,399 6,912

104,109 20,569

156,249 18,478

171,535 8,464

131,057 29,117

243,703 31,357

280,072 5,308

253,475 29,903

.. 71.3

7.1 74.9

7.7 80.6

6.1 82.2

5.7 84.2

6.1 84.8

6.6 84.4

6.0 87.6

1,183,809 292,111 5,237 277,904 20,198 20,518 168,278

2,240,803 809,731 8,832 701,218 47,566 132,378 821,514

3,501,856 1,338,833 17,513 1,022,752 61,893 353,183 1,530,282

4,539,527 1,605,353 22,694 1,227,941 72,637 420,569 1,949,260

4,998,556 1,368,583 22,903 1,156,985 105,948 243,257 2,416,044

5,904,632 1,790,140 33,440 1,593,015 159,637 237,810 2,866,079

7,310,070 2,134,931 40,483 2,023,344 204,476 136,097 3,202,789

8,203,602 2,327,689 39,221 2,137,983 187,502 193,139 3,331,120

49.9 12.3 9.1 9.0 17.7 115.5 7.3

34.7 12.5 3.4 52.7 9.4 292.2 14.1

27.8 10.6 2.4 54.8 7.9 411.7 18.0

23.6 8.3 2.1 49.5 8.1 515.0 19.0

32.6 8.9 2.9 53.9 7.4 541.8 25.1

31.3 9.5 3.4 62.1 6.3 512.0 21.6

33.3 9.7 3.5 67.1 4.9 450.9 19.0

32.4 9.2 3.3 67.6 4.6 441.8 18.7

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed and short-term debt data are World Bank staff estimates based on creditors and market data.

69


COLOMBIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

33,159 30,139 2,871 0 149

37,162 30,823 6,176 0 163

43,391 38,050 5,161 0 181

46,246 40,437 5,633 0 176

53,047 47,876 4,013 0 1,157

63,815 54,766 7,912 0 1,137

76,782 65,052 10,596 0 1,134

79,051 67,229 10,687 0 1,135

30,139 19,880 6,805 13,075 10,259

30,823 21,834 9,834 12,000 8,989

38,050 26,938 11,515 15,423 11,112

40,437 28,625 13,386 15,239 11,812

47,876 35,127 14,985 20,142 12,749

54,766 36,688 16,152 20,536 18,078

65,052 39,124 16,684 22,440 25,928

67,229 43,184 19,495 23,689 24,045

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

3,753 2,889 610 2,279 865

6,518 4,397 1,469 2,928 2,121

8,800 4,434 1,581 2,853 4,366

7,083 3,851 2,555 1,296 3,232

13,148 8,107 2,415 5,691 5,041

12,831 3,491 2,125 1,365 9,340

16,410 4,571 1,559 3,012 11,839

17,197 6,749 3,840 2,909 10,448

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

2,882 2,049 543 1,507 832

7,272 4,580 2,095 2,486 2,692

5,456 2,729 1,234 1,495 2,727

4,733 2,028 742 1,286 2,705

5,769 1,643 793 850 4,126

6,431 2,183 981 1,202 4,248

6,404 2,211 1,022 1,189 4,193

11,362 2,789 1,067 1,722 8,573

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1,948 1,330 458 872 618

2,513 1,875 502 1,374 637

2,696 1,896 629 1,267 800

2,722 2,066 615 1,451 656

2,694 1,976 573 1,403 718

2,824 2,117 540 1,578 707

3,187 2,087 516 1,571 1,100

3,638 2,143 531 1,611 1,495

-222 67 -290 804 772 32 -1,094

302 -626 928 -128 443 -571 1,056

3,743 347 3,395 2,997 1,358 1,639 398

2,823 1,813 1,009 537 10 527 472

5,759 1,622 4,137 5,757 4,841 916 -1,620

10,300 1,144 9,155 5,256 163 5,093 3,900

12,690 537 12,153 9,469 1,823 7,646 2,684

5,925 2,773 3,153 3,062 1,187 1,875 91

2,436 17

10,252 86

9,487 790

10,158 -86

7,137 67

6,753 1,351

13,403 1,969

15,649 3,778

.. 72.6

4.3 84.4

3.5 89.4

1.4 93.4

1.2 94.1

1.0 94.7

0.1 96.3

0.1 97.7

97,597 16,850 1,610 17,728 655 795 8,916

141,059 25,289 3,346 31,257 3,565 -1,886 14,787

199,462 35,844 4,523 47,050 6,598 -5,977 20,767

233,826 44,285 4,827 56,604 8,706 -6,865 23,479

224,541 39,355 4,125 48,994 7,628 -5,081 24,748

274,994 46,346 4,031 59,713 9,959 -8,919 27,766

320,353 65,561 4,101 80,234 14,755 -9,839 31,386

353,123 70,387 4,019 87,040 15,318 -12,173 36,444

196.8 34.0 29.7 8.7 17.4 26.9 6.0

147.0 26.3 39.7 16.6 24.6 39.8 5.7

121.1 21.8 23.4 11.9 25.3 47.9 5.3

104.4 19.8 17.4 12.2 27.9 50.8 5.0

134.8 23.6 22.0 7.6 27.4 46.7 6.1

137.7 23.2 20.8 12.4 24.7 43.5 5.6

117.1 24.0 15.4 13.8 20.8 40.9 4.7

112.3 22.4 22.0 13.5 20.5 46.1 5.0

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

70


COMOROS (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

226.7 204.0 20.3 11.3 2.4

280.8 255.3 24.5 21.5 1.0

289.2 276.5 11.6 7.6 1.1

278.8 267.4 5.2 5.2 6.2

288.4 260.2 4.7 4.7 23.4

280.6 250.7 4.4 4.4 25.4

277.9 245.5 4.7 4.7 27.7

251.2 219.0 4.1 4.1 28.0

204.0 204.0 204.0 0.0 ..

255.3 255.3 255.3 0.0 ..

276.5 276.5 276.5 0.0 ..

267.4 267.4 267.4 0.0 ..

260.2 260.2 260.2 0.0 ..

250.7 250.7 250.7 0.0 ..

245.5 245.5 245.5 0.0 ..

219.0 219.0 219.0 0.0 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

2.1 2.1 2.1 0.0 ..

3.3 3.3 3.3 0.0 ..

4.8 4.8 4.8 0.0 ..

1.4 1.4 1.4 0.0 ..

0.3 0.3 0.3 0.0 ..

0.0 0.0 0.0 0.0 ..

0.0 0.0 0.0 0.0 ..

0.0 0.0 0.0 0.0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1.2 1.2 1.2 0.0 ..

2.6 2.6 2.6 0.0 ..

12.8 12.8 12.8 0.0 ..

8.1 8.1 8.1 0.0 ..

7.2 7.2 7.2 0.0 ..

3.1 3.1 3.1 0.0 ..

2.2 2.2 2.2 0.0 ..

5.1 5.1 5.1 0.0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

0.8 0.8 0.8 0.0 ..

1.3 1.3 1.3 0.0 ..

13.1 13.1 13.1 0.0 ..

4.2 4.2 4.2 0.0 ..

2.9 2.9 2.9 0.0 ..

1.1 1.1 1.1 0.0 ..

1.7 1.7 1.7 0.0 ..

2.3 2.3 2.3 0.0 ..

2.3 0.3 2.0 0.0 0.0 .. 2.0

0.7 0.7 0.0 0.0 0.0 .. ..

-8.0 -8.0 0.0 0.0 0.0 .. ..

-5.5 -1.5 -4.0 0.0 0.0 .. -4.0

-2.1 -2.1 0.0 0.0 0.0 .. ..

-0.7 -0.7 0.0 0.0 0.0 .. ..

0.2 0.2 0.0 0.0 0.0 .. ..

-4.9 -4.9 0.0 0.0 0.0 .. ..

0.1 ..

0.6 ..

7.7 ..

4.6 ..

13.8 ..

8.3 ..

23.1 ..

17.0 ..

.. 32.4

12.5 41.1

11.7 43.1

11.6 43.7

11.6 44.3

11.6 45.0

11.3 45.0

12.3 41.0

202.2 .. .. .. .. .. 43.2

385.9 59.6 .. 144.5 .. -26.9 85.8

466.9 76.9 .. 195.4 .. -31.6 117.2

528.4 79.4 .. 263.9 .. -69.7 112.2

534.7 81.1 .. 258.7 .. -39.3 150.3

541.1 91.1 .. 275.9 .. -39.4 145.3

608.6 102.7 .. 308.4 .. -56.3 155.2

595.4 .. .. .. .. .. 194.1

.. 112.1 .. 9.0 73.2 19.1 ..

470.7 72.8 6.8 8.7 73.8 30.6 7.1

376.0 61.9 34.0 4.0 78.9 40.5 7.2

351.4 52.8 15.6 1.9 78.7 40.2 5.1

355.6 53.9 14.6 1.6 74.4 52.1 7.0

308.2 51.9 4.7 1.6 72.7 51.8 6.3

270.7 45.7 3.8 1.7 71.4 55.8 6.0

.. 42.2 .. 1.6 68.6 77.3 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Data include the effects of Paris Club debt restructuring agreements signed in 2010 and the HIPC debt relief.

71


CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

11,805 7,880 3,421 3,042 503

10,715 9,403 397 359 914

12,485 10,918 622 442 945

12,336 10,876 673 467 787

13,097 10,893 603 489 1,601

6,202 4,611 481 267 1,110

5,544 4,036 250 73 1,258

5,651 4,163 229 71 1,260

7,880 7,880 7,384 496 ..

9,403 9,403 9,033 370 ..

10,918 10,918 10,561 357 ..

10,876 10,876 10,524 351 ..

10,893 10,893 10,561 332 ..

4,611 4,611 4,485 126 ..

4,036 4,036 4,021 14 ..

4,163 4,163 4,140 23 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

0 0 0 0 ..

249 249 249 0 ..

116 116 115 1 ..

110 110 110 0 ..

131 131 131 0 ..

78 78 58 20 ..

152 152 152 0 ..

289 289 276 12 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

0 0 0 0 ..

112 112 110 2 ..

155 155 150 5 ..

170 170 163 7 ..

226 226 205 21 ..

89 89 85 4 ..

133 133 128 5 ..

108 108 105 4 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

0 0 0 0 ..

97 97 95 1 ..

266 266 264 2 ..

275 275 272 3 ..

242 242 240 2 ..

125 125 124 0 ..

120 120 120 0 ..

168 168 168 0 ..

20 0 20 0 0 .. 20

95 178 -83 -2 -2 .. -81

-65 -99 34 -4 -4 .. 38

-171 -191 19 -7 -7 .. 26

-55 58 -113 -21 -21 .. -92

107 -8 116 16 16 .. 100

138 180 -42 -5 -5 .. -37

161 172 -11 8 8 .. -19

72 ..

167 ..

1,794 ..

1,673 ..

-278 ..

2,729 ..

1,596 ..

2,892 ..

.. 44.6

30.1 45.8

31.0 41.7

28.9 41.9

29.3 41.4

8.0 44.5

3.4 53.3

3.1 54.6

3,917 .. .. .. .. .. 83

6,684 2,756 9 3,892 .. -389 131

9,380 6,566 9 6,901 .. 527 181

10,345 7,716 15 8,863 .. -151 78

5,604 5,047 20 7,571 .. -1,123 1,035

12,197 8,915 16 11,931 131 -2,174 1,300

14,379 10,379 115 13,071 .. -1,281 1,268

15,801 8,840 12 11,703 .. -1,696 1,633

.. 301.4 .. 29.0 18.3 0.7 ..

388.8 160.3 7.9 3.7 28.5 1.2 0.4

190.1 133.1 7.6 5.0 32.5 1.4 0.3

159.9 119.2 7.7 5.5 33.7 0.6 0.1

259.5 233.7 12.4 4.6 32.1 7.9 1.6

69.6 50.8 3.1 7.8 42.0 21.0 1.3

53.4 38.6 2.5 4.5 43.5 22.9 1.2

63.9 35.8 3.2 4.0 41.6 28.9 1.7

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement and HIPC and MDRI debt relief.

72


CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

4,865 3,735 1,076 655 54

6,258 5,471 747 736 40

5,280 4,898 330 225 53

5,488 5,071 364 227 53

4,939 4,610 162 95 168

2,406 2,063 193 76 150

2,638 2,329 155 61 155

2,829 2,492 185 60 152

3,735 3,735 2,920 815 ..

5,471 5,471 3,293 2,179 ..

4,898 4,898 3,863 1,035 ..

5,071 5,071 3,964 1,107 ..

4,610 4,610 3,656 954 ..

2,063 2,063 1,224 840 ..

2,329 2,329 1,402 927 ..

2,492 2,492 1,479 1,013 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1 1 1 0 ..

183 183 183 0 ..

28 28 28 0 ..

19 19 14 5 ..

7 7 7 0 ..

504 504 502 2 ..

356 356 244 112 ..

472 472 251 221 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

6 6 6 0 ..

65 65 65 0 ..

74 74 72 1 ..

107 107 79 27 ..

114 114 80 34 ..

116 116 104 12 ..

114 114 92 22 ..

141 141 106 35 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

7 7 7 0 ..

34 34 34 0 ..

29 29 29 0 ..

57 57 57 0 ..

63 63 48 14 ..

23 23 9 14 ..

20 20 6 14 ..

23 23 7 16 ..

-52 9 -61 0 0 .. -61

128 117 11 0 0 .. 11

-3 -45 42 -1 -1 .. 43

-54 -64 10 -22 -22 .. 32

-174 -70 -104 -34 -34 .. -70

439 400 39 -11 -11 .. 50

224 158 66 89 89 .. -23

359 142 217 186 186 .. 31

166 0

801 ..

2,638 ..

2,526 ..

1,862 ..

2,211 ..

3,056 ..

2,758 ..

.. 29.5

36.7 52.0

46.6 38.2

39.9 48.0

38.9 48.2

5.9 83.8

4.9 85.2

4.5 86.4

2,275 2,642 10 2,013 466 648 222

4,032 4,983 11 4,318 1,296 696 732

5,774 6,151 15 8,294 1,651 -2,181 2,174

8,768 .. .. .. .. .. 3,872

6,979 .. .. .. .. .. 3,806

9,024 .. .. .. .. .. 4,447

10,713 .. .. .. .. .. 5,641

10,832 .. .. .. .. .. 5,550

184.1 213.8 1.7 22.1 10.3 4.6 1.3

125.6 155.2 2.3 11.9 8.2 11.7 2.0

85.8 91.4 1.8 6.2 9.5 41.2 3.1

.. 62.6 .. 6.6 8.1 70.5 ..

.. 70.8 .. 3.3 8.8 77.1 ..

.. 26.7 .. 8.0 7.9 184.8 ..

.. 24.6 .. 5.9 6.3 213.8 ..

.. 26.1 .. 6.5 5.8 196.1 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt data from 2011 are World Bank staff estimates based on reports provided by the country. Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement and HIPC and MDRI debt relief.

73


COSTA RICA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

4,736 3,742 962 27 31

6,524 4,393 2,097 2 34

8,450 5,178 3,234 0 37

9,251 5,226 3,989 0 37

8,164 5,675 2,243 0 245

8,552 5,880 2,431 0 241

10,723 7,673 2,810 0 240

14,458 11,379 2,839 0 241

3,742 3,506 1,915 1,591 236

4,393 3,162 1,371 1,791 1,231

5,178 3,657 1,483 2,174 1,521

5,226 3,232 1,420 1,812 1,994

5,675 3,216 1,586 1,630 2,459

5,880 3,827 2,201 1,626 2,053

7,673 3,968 2,196 1,773 3,704

11,379 4,983 2,198 2,786 6,396

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

758 749 249 500 9

986 75 75 0 910

610 118 118 0 492

1,178 394 383 11 785

1,329 559 419 141 770

1,458 928 845 82 531

1,878 773 269 504 1,105

3,846 1,790 357 1,433 2,056

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

391 374 337 37 17

570 365 306 59 204

562 266 224 42 296

1,124 848 475 373 276

858 574 251 323 284

625 343 257 86 282

1,176 641 283 357 536

1,698 742 323 420 956

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

206 190 105 86 16

180 106 63 43 74

208 116 43 73 92

352 249 81 168 104

366 219 77 142 147

329 213 86 127 116

415 200 85 115 215

581 202 77 125 379

545 -89 634 455 463 -8 179

841 -231 1,072 647 -59 706 425

928 -106 1,035 154 -42 196 880

809 -92 902 147 -362 509 755

-1,274 168 -1,441 304 -182 486 -1,745

1,021 588 433 246 -4 249 188

1,081 -14 1,095 716 147 569 379

2,177 35 2,142 2,113 1,013 1,100 29

409 ..

861 ..

1,896 ..

2,078 ..

1,347 ..

1,466 ..

2,156 ..

2,636 ..

.. 68.8

1.7 77.1

1.7 82.8

1.7 86.3

1.6 87.7

1.2 87.8

0.9 89.5

0.6 94.2

14,697 7,992 136 8,793 1,141 -707 1,318

19,184 7,535 420 8,787 743 -981 2,313

25,574 10,184 618 12,300 1,131 -1,646 4,114

29,084 10,863 605 14,092 749 -2,787 3,799

28,489 9,890 513 10,825 986 -576 4,066

35,317 10,797 531 12,445 606 -1,281 4,627

40,050 12,061 520 14,587 753 -2,203 4,756

43,886 13,397 562 16,106 1,046 -2,376 6,857

59.3 32.2 8.2 20.3 28.7 27.8 1.8

86.6 34.0 11.2 32.1 18.0 35.5 3.2

83.0 33.0 8.9 38.3 14.2 48.7 4.0

85.2 31.8 14.6 43.1 11.9 41.1 3.2

82.5 28.7 13.0 27.5 14.6 49.8 4.5

79.2 24.2 9.5 28.4 20.7 54.1 4.5

88.9 26.8 13.8 26.2 16.7 44.4 3.9

107.9 32.9 17.6 19.6 12.8 47.4 5.1

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data are World Bank staff estimates based on reports provided by the country.

74


COTE D'IVOIRE (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

12,187 10,546 1,043 79 599

11,966 10,866 848 848 252

13,925 12,237 1,455 1,455 233

12,956 11,365 1,344 1,344 247

14,499 13,561 98 98 839

11,532 10,357 314 7 861

13,043 11,132 821 5 1,090

9,871 8,428 178 5 1,265

10,546 9,063 6,669 2,394 1,482

10,866 9,965 7,673 2,292 900

12,237 11,646 9,062 2,584 591

11,365 10,628 8,129 2,499 738

13,561 12,713 10,647 2,066 848

10,357 9,339 9,227 112 1,018

11,132 9,800 9,670 131 1,332

8,428 5,937 5,809 129 2,490

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

148 148 148 0 0

55 21 21 0 34

77 57 57 0 20

310 35 35 0 275

405 85 85 0 320

539 185 159 26 355

1,083 681 646 34 402

981 161 147 13 820

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

442 329 283 46 113

164 21 21 0 143

298 112 112 0 187

782 586 586 0 196

698 533 533 0 165

625 440 440 0 185

569 349 340 9 220

929 663 646 16 266

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

462 342 189 153 120

46 3 3 0 43

82 41 41 0 41

216 183 183 0 33

289 241 241 0 48

115 59 59 0 56

140 69 69 0 70

380 261 261 0 119

-617 -174 -442 -159 -46 -113 -283

-308 -91 -217 -109 0 -109 -108

-206 -39 -167 -167 0 -167 ..

-452 -531 79 79 0 79 0

-135 -290 155 155 0 155 ..

266 -237 503 196 26 170 307

1,261 545 716 207 25 182 509

-419 -326 -92 551 -3 554 -643

235 1

349 14

443 2

466 2

396 2

358 2

286 ..

478 ..

.. 53.7

51.9 37.7

55.6 34.1

56.2 33.0

63.7 29.8

59.9 30.8

55.3 35.5

72.8 21.7

9,715 4,512 119 4,423 284 -241 674

15,643 8,717 163 8,215 370 40 1,367

18,913 9,813 185 9,608 531 -139 2,519

22,434 11,643 199 10,859 581 452 2,253

22,055 12,562 315 10,845 572 1,618 3,267

21,923 12,811 373 11,907 562 465 3,624

23,035 .. .. .. .. .. 4,316

23,683 .. .. .. .. .. 3,928

270.1 125.4 22.7 8.6 24.3 5.5 1.8

137.3 76.5 3.5 7.1 25.8 11.4 2.0

141.9 73.6 4.4 10.4 24.9 18.1 3.1

111.3 57.7 9.0 10.4 22.4 17.4 2.5

115.4 65.7 9.0 0.7 16.7 22.5 3.6

90.0 52.6 5.9 2.7 20.3 31.4 3.7

.. 56.6 .. 6.3 17.9 33.1 ..

.. 41.7 .. 1.8 5.2 39.8 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt data and long-term private nonguaranteed debt data for 2012 are World Bank staff estimates based on reports provided by the country. Data include the effects of Paris Club agreement signed in 2011, 2012 and HIPC and MDRI debt relief.

75


DJIBOUTI (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

298.6 238.3 45.4 6.4 14.9

485.1 376.9 87.9 8.9 20.4

821.2 651.4 151.8 5.8 17.9

843.3 678.3 145.7 0.7 19.2

894.1 735.3 119.3 2.3 39.5

769.7 619.7 114.5 0.5 35.5

775.9 650.6 85.6 0.6 39.7

807.7 641.9 108.3 1.3 57.5

238.3 238.3 238.3 0.0 ..

376.9 376.9 371.3 5.6 ..

651.4 651.4 620.6 30.8 ..

678.3 678.3 651.0 27.4 ..

735.3 735.3 711.1 24.2 ..

619.7 619.7 599.3 20.4 ..

650.6 650.6 633.4 17.2 ..

641.9 641.9 628.1 13.8 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

7.7 7.7 7.7 0.0 ..

26.5 26.5 26.5 0.0 ..

39.0 39.0 39.0 0.0 ..

45.9 45.9 45.9 0.0 ..

67.4 67.4 67.4 0.0 ..

35.2 35.2 35.2 0.0 ..

55.7 55.7 55.7 0.0 ..

25.2 25.2 25.2 0.0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

8.4 8.4 8.4 0.0 ..

11.0 11.0 11.0 0.0 ..

14.3 14.3 13.2 1.1 ..

17.5 17.5 13.6 3.9 ..

22.3 22.3 17.3 5.1 ..

22.2 22.2 19.8 2.4 ..

24.8 24.8 21.9 2.9 ..

30.8 30.8 27.3 3.5 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

2.2 2.2 2.2 0.0 ..

3.7 3.7 3.7 0.0 ..

6.5 6.5 6.5 0.0 ..

7.7 7.7 7.2 0.5 ..

8.1 8.1 7.6 0.6 ..

8.2 8.2 7.5 0.6 ..

9.2 9.2 8.5 0.7 ..

9.3 9.3 8.8 0.5 ..

39.7 0.7 39.0 0.0 0.0 .. 39.0

56.7 14.7 42.0 0.0 0.0 .. 42.0

71.0 23.0 47.9 -1.1 -1.1 .. 49.0

29.2 34.1 -4.9 -3.9 -3.9 .. -1.0

15.1 48.2 -33.1 -5.1 -5.1 .. -28.0

6.6 12.0 -5.4 -2.4 -2.4 .. -3.0

6.2 38.2 -31.9 -2.9 -2.9 .. -29.0

34.1 15.7 18.5 -3.5 -3.5 .. 22.0

3.3 ..

22.2 ..

195.4 ..

227.7 ..

96.9 ..

36.5 ..

79.0 ..

110.0 ..

.. 16.2

13.2 33.9

34.0 25.6

31.7 25.3

30.5 24.5

13.9 29.1

14.1 28.1

13.8 28.7

567.0 218.4 12.3 287.1 4.2 -19.0 67.8

775.8 319.8 25.8 372.3 5.9 20.1 89.3

.. 329.4 28.6 579.9 4.2 -171.4 132.1

.. 398.3 30.3 703.5 5.0 -225.4 175.5

.. 422.7 32.5 580.0 6.5 -71.1 241.8

.. 439.0 32.6 493.8 6.8 50.5 249.0

.. 440.3 32.4 686.3 18.0 -171.8 244.1

.. 487.7 33.3 700.7 7.2 -121.7 248.6

136.7 52.7 6.9 15.2 46.3 22.7 2.8

151.7 62.5 5.6 18.1 55.0 18.4 2.9

249.3 .. 8.4 18.5 42.0 16.1 2.7

211.7 .. 8.4 17.3 42.8 20.8 3.0

211.5 .. 8.5 13.3 44.5 27.0 5.0

175.3 .. 8.1 14.9 52.5 32.4 6.1

176.2 .. 8.6 11.0 55.2 31.5 4.3

165.6 .. 8.8 13.4 52.0 30.8 4.3

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement signed in 2008.

76


DOMINICA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

183.3 163.6 19.0 0.0 0.8

277.3 224.4 40.6 8.6 12.4

291.8 215.7 63.0 14.0 13.1

303.9 204.9 83.0 17.0 15.9

270.1 200.3 37.9 17.9 31.9

249.7 217.9 1.5 1.5 30.2

260.0 227.1 5.6 1.5 27.3

284.3 252.2 5.6 1.5 26.6

163.6 163.6 114.3 49.2 ..

224.4 224.4 174.0 50.4 ..

215.7 215.7 165.4 50.4 ..

204.9 204.9 157.8 47.1 ..

200.3 200.3 156.3 44.0 ..

217.9 217.9 174.0 44.0 ..

227.1 227.1 183.3 43.8 ..

252.2 252.2 217.6 34.5 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

56.2 56.2 25.7 30.5 ..

4.5 4.5 4.5 0.0 ..

4.9 4.9 4.9 0.0 ..

7.9 7.9 6.2 1.7 ..

8.6 8.6 8.6 0.0 ..

29.7 29.7 29.7 0.0 ..

18.3 18.3 18.3 0.0 ..

36.3 36.3 36.3 0.0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

6.8 6.8 6.8 0.0 ..

9.6 9.6 9.6 0.0 ..

10.5 10.5 10.5 0.0 ..

12.9 12.9 12.9 0.0 ..

14.8 14.8 12.9 1.9 ..

9.8 9.8 9.8 0.1 ..

9.4 9.4 9.2 0.2 ..

7.8 7.8 7.6 0.2 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

3.1 3.1 2.9 0.2 ..

4.7 4.7 4.3 0.4 ..

4.9 4.9 4.5 0.5 ..

4.3 4.3 4.1 0.2 ..

4.5 4.5 4.0 0.6 ..

4.3 4.3 3.9 0.4 ..

4.2 4.2 3.9 0.3 ..

7.8 7.8 4.2 3.6 ..

49.5 18.8 30.7 30.5 30.5 .. 0.2

-37.0 -2.0 -35.0 0.0 0.0 .. -35.0

29.9 -8.1 38.0 0.0 0.0 .. 38.0

15.2 -3.5 18.7 1.7 1.7 .. 17.0

-47.9 0.0 -47.9 -1.9 -1.9 .. -46.0

-1.2 18.8 -20.1 -0.1 -0.1 .. -20.0

10.0 6.1 3.9 -0.2 -0.2 .. 4.1

27.7 27.9 -0.2 -0.2 -0.2 .. ..

17.6 ..

19.2 ..

40.5 ..

56.5 ..

42.4 ..

24.3 ..

14.2 ..

19.6 ..

.. 72.3

5.3 84.9

3.4 86.1

2.7 86.2

3.4 83.6

3.0 79.4

3.2 77.8

7.9 59.8

285.1 149.2 16.3 227.1 33.0 -59.8 29.4

332.6 135.3 21.8 231.0 22.7 -76.1 49.2

393.1 156.4 22.5 264.5 13.0 -86.9 60.5

433.8 165.1 22.7 314.1 12.5 -129.9 55.2

468.5 156.3 22.1 284.7 13.4 -109.3 75.5

465.4 178.9 22.9 280.1 7.8 -81.4 76.1

465.9 190.2 22.9 278.0 5.0 -71.3 81.1

462.5 196.7 23.2 268.2 5.2 -54.9 94.6

122.9 64.3 7.4 10.4 45.5 16.0 1.6

205.0 83.4 12.1 14.6 45.4 17.7 2.6

186.6 74.2 12.6 21.6 41.5 20.7 2.7

184.0 70.0 11.6 27.3 38.5 18.1 2.1

172.8 57.7 13.3 14.0 43.8 27.9 3.2

139.5 53.6 8.6 0.6 46.9 30.5 3.3

136.7 55.8 8.8 2.1 47.0 31.2 3.5

144.5 61.5 10.0 2.0 45.0 33.3 4.2

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

77


DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

4,652 3,381 1,178 28 93

7,739 6,406 887 20 446

10,739 7,662 2,480 9 598

10,603 8,122 1,940 3 541

11,490 8,999 1,397 0 1,094

13,465 10,281 1,723 0 1,461

15,426 11,673 2,130 0 1,623

16,851 13,180 2,157 0 1,513

3,381 3,381 2,625 756 0

6,406 6,405 3,257 3,147 2

7,662 6,817 3,748 3,068 845

8,122 7,279 4,458 2,821 843

8,999 8,156 5,505 2,651 843

10,281 9,439 6,376 3,063 843

11,673 10,760 7,119 3,641 913

13,180 11,982 8,159 3,823 1,198

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

314 314 150 164 0

657 656 372 284 2

1,252 821 459 362 431

1,310 1,310 1,023 287 0

1,481 1,481 1,392 89 0

2,111 2,111 1,176 935 0

2,165 2,120 1,117 1,003 45

2,393 1,843 1,458 385 550

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

264 264 223 40 0

460 460 184 276 0

942 942 370 572 0

821 821 311 510 1

893 893 354 539 0

794 794 311 483 0

796 788 376 412 8

1,056 624 407 217 432

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

211 211 159 53 0

212 212 109 103 0

332 275 148 127 57

446 338 136 202 108

431 323 150 173 108

443 335 156 179 108

584 473 176 297 111

543 448 198 250 95

316 -73 389 124 124 .. 265

394 407 -13 10 8 2 -23

1,457 152 1,305 221 -210 430 1,084

-87 670 -757 -223 -222 -1 -534

309 1,299 -990 -450 -449 0 -540

2,025 1,247 778 452 452 0 326

1,947 912 1,035 628 591 37 407

1,254 941 313 286 168 118 27

953 ..

1,118 ..

2,253 ..

2,728 ..

1,695 ..

2,094 ..

2,196 ..

3,857 ..

.. 73.2

2.3 88.2

5.6 87.1

7.3 86.2

8.3 86.1

6.2 89.2

4.7 91.6

5.9 91.3

22,955 9,264 1,839 12,193 1,068 -1,027 627

32,102 8,013 2,719 11,183 1,765 -473 1,920

39,044 10,314 3,397 15,882 2,194 -2,166 3,030

43,964 9,999 3,606 18,031 1,669 -4,520 2,679

44,989 8,444 3,415 13,986 1,518 -2,303 3,560

49,968 9,940 3,430 17,393 1,528 -4,330 3,849

53,579 11,556 3,651 19,369 1,802 -4,379 4,086

56,760 12,564 3,615 19,974 1,884 -4,037 3,548

50.2 20.3 5.7 25.3 25.0 13.5 0.6

96.6 24.1 9.1 11.5 23.4 24.8 2.1

104.1 27.5 15.1 23.1 17.6 28.2 2.3

106.0 24.1 15.0 18.3 17.8 25.3 1.8

136.1 25.5 16.6 12.2 22.8 31.0 3.1

135.5 26.9 14.3 12.8 22.9 28.6 2.7

133.5 28.8 13.9 13.8 21.7 26.5 2.5

134.1 29.7 14.0 12.8 21.0 21.1 2.1

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data only cover Inter-American Development Bank and Bonds. Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement signed in 2005.

78


ECUADOR (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

13,338 12,350 797 3 191

17,408 15,564 1,719 1 125

17,868 15,946 1,870 0 52

15,818 14,084 1,683 31 51

13,263 11,426 1,386 37 452

14,963 13,715 804 37 444

16,497 15,309 745 46 443

16,931 15,815 673 44 443

12,350 10,915 5,922 4,993 1,435

15,564 10,896 5,993 4,902 4,668

15,946 10,763 6,635 4,128 5,183

14,084 10,095 6,006 4,088 3,990

11,426 6,960 5,895 1,065 4,466

13,715 8,633 7,610 1,023 5,082

15,309 9,929 8,939 990 5,380

15,815 10,065 9,106 959 5,750

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

983 602 531 71 381

3,154 991 318 674 2,162

3,048 1,357 1,333 24 1,691

1,369 353 343 10 1,016

1,180 384 382 2 796

2,977 2,307 2,305 2 670

3,370 2,342 2,342 1 1,028

2,322 1,336 1,336 0 986

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1,067 550 399 151 517

3,048 923 803 120 2,125

2,340 1,029 964 65 1,311

1,485 964 915 49 521

4,187 3,529 503 3,025 659

1,260 637 593 44 623

1,837 1,048 1,015 33 789

1,894 1,174 1,143 31 720

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

708 536 296 240 172

843 658 275 383 185

1,228 736 327 409 492

847 656 311 345 191

521 330 227 103 191

464 326 255 71 139

534 361 292 69 174

674 481 414 67 193

-189 282 -471 -216 -80 -136 -254

-235 -680 445 590 553 37 -145

557 346 211 339 -41 380 -128

-334 -572 238 456 -39 495 -218

-3,310 -121 -3,189 -2,886 -3,023 138 -303

1,135 1,712 -577 5 -42 47 -582

1,466 1,326 139 207 -33 239 -68

358 194 164 235 -31 266 -71

-23 0

493 2

194 0

1,006 1

321 2

167 0

641 2

591 5

.. 83.0

3.4 87.1

3.3 88.4

3.0 89.6

4.0 86.2

2.8 89.9

2.1 92.2

1.5 89.6

16,916 6,163 1,322 6,403 329 1,113 947

39,692 11,693 2,460 13,880 1,004 474 1,714

49,063 16,431 3,341 17,924 1,160 1,938 2,816

60,312 21,218 3,089 22,692 785 1,648 3,738

61,147 15,854 2,742 18,366 821 136 2,873

66,585 19,686 2,599 23,757 546 -1,623 1,435

76,476 24,754 2,681 27,700 701 -225 1,664

83,221 26,569 2,456 29,231 676 -177 1,080

216.4 78.8 30.6 6.0 27.8 7.1 1.8

148.9 43.9 35.9 9.9 21.0 9.8 1.5

108.7 36.4 22.7 10.5 26.3 15.8 1.9

74.6 26.2 11.1 10.6 27.4 23.6 2.0

83.7 21.7 30.2 10.4 33.1 21.7 1.9

76.0 22.5 9.1 5.4 34.8 9.6 0.7

66.6 21.6 9.7 4.5 31.5 10.1 0.7

63.7 20.3 9.8 4.0 30.3 6.4 0.4

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is World Bank staff estimates based on Central Bank data.

79


EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

29,178 24,897 4,104 0 177

29,948 28,098 1,656 2 194

34,224 31,774 2,236 1 215

33,571 30,519 2,842 0 209

35,062 31,093 2,561 0 1,408

36,544 32,011 3,149 0 1,384

35,150 30,745 3,026 0 1,379

40,000 31,962 6,657 0 1,381

24,897 24,325 23,785 540 573

28,098 28,005 25,777 2,228 93

31,774 31,754 29,039 2,715 21

30,519 30,439 28,098 2,341 80

31,093 31,019 28,669 2,350 74

32,011 31,957 28,238 3,719 54

30,745 30,729 27,457 3,272 16

31,962 31,942 28,689 3,253 20

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

569 362 218 144 207

3,090 3,090 1,114 1,976 0

3,188 3,188 2,445 743 0

1,133 1,063 962 101 70

2,131 2,122 2,016 107 9

3,617 3,612 1,903 1,709 5

1,510 1,480 1,459 21 30

3,681 3,656 3,601 55 25

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1,098 982 861 121 116

1,573 1,573 1,344 229 0

1,976 1,915 1,824 90 61

2,333 2,322 1,847 476 11

2,053 2,033 1,914 119 20

2,155 2,130 2,056 74 25

2,649 2,582 2,121 460 68

2,247 2,225 2,151 74 22

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

619 603 572 31 16

569 565 547 18 4

776 774 680 94 2

802 799 714 85 3

779 776 654 123 2

735 734 581 152 1

757 757 563 194 0

719 719 557 161 0

-718 -643 -75 115 23 91 -189

1,453 -230 1,683 1,747 1,747 .. -64

1,728 621 1,107 591 652 -61 516

-593 -885 292 -315 -375 59 607

-203 102 -305 -24 -13 -11 -281

2,050 -153 2,203 1,615 1,635 -20 588

-1,262 -662 -600 -477 -439 -38 -123

5,066 1,450 3,616 -15 -19 4 3,632

1,235 269

5,376 729

11,578 -3,199

9,495 -674

6,712 393

6,386 1,724

-483 -711

2,798 -983

.. 39.8

33.6 36.6

36.3 35.3

35.1 34.3

35.9 33.9

31.8 37.7

30.5 37.2

29.2 40.5

100,770 18,735 2,852 23,878 92 -971 13,118

89,432 32,141 5,017 35,787 647 2,103 20,609

132,930 47,707 7,656 55,618 1,015 412 30,188

165,655 57,826 8,694 68,999 680 -1,415 32,216

191,178 45,601 7,150 56,910 2,101 -3,349 32,253

217,727 49,365 12,453 66,308 5,268 -4,504 33,612

232,593 47,371 14,324 68,076 5,079 -5,484 14,916

254,233 48,834 19,236 75,597 5,704 -6,972 11,628

155.7 29.0 9.8 14.1 13.4 45.0 6.6

93.2 33.5 6.9 5.5 17.4 68.8 6.9

71.7 25.7 6.0 6.5 22.5 88.2 6.5

58.1 20.3 5.6 8.5 22.9 96.0 5.6

76.9 18.3 6.4 7.3 24.7 92.0 6.8

74.0 16.8 6.1 8.6 25.3 92.0 6.1

74.2 15.1 7.4 8.6 27.3 42.4 2.6

81.9 15.7 6.6 16.6 26.1 29.1 1.8

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

80


EL SALVADOR (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

4,535 2,858 1,645 0 33

9,317 7,425 1,856 0 36

9,855 8,523 1,292 0 39

10,651 9,070 1,542 0 38

10,368 9,248 863 0 257

11,328 9,971 1,105 0 252

11,995 10,521 1,223 0 251

13,279 11,411 1,616 0 252

2,858 2,746 2,541 205 111

7,425 4,802 3,083 1,719 2,622

8,523 5,444 3,169 2,275 3,079

9,070 5,754 3,487 2,267 3,316

9,248 6,109 3,845 2,264 3,139

9,971 6,402 4,182 2,220 3,569

10,521 6,537 4,301 2,237 3,983

11,411 7,371 4,338 3,033 4,040

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

372 321 201 120 51

1,222 682 337 345 540

246 246 246 0 0

1,042 666 601 65 376

1,216 910 910 0 306

1,055 707 707 0 348

874 476 476 0 398

917 522 522 0 395

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

163 130 126 4 33

406 245 230 16 160

551 341 282 60 210

490 351 347 4 139

687 559 555 4 127

604 455 388 68 149

757 587 367 220 170

630 453 452 1 177

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

140 133 124 9 7

344 257 119 139 87

466 349 138 211 117

484 369 136 232 116

475 374 139 235 102

465 350 117 233 115

515 386 119 267 129

504 373 121 252 131

802 75 726 134 116 18 592

892 107 785 709 329 380 77

-302 -35 -267 -270 -59 -210 3

803 254 548 298 61 237 250

-150 354 -504 175 -4 178 -679

693 320 373 131 -68 199 242

234 109 126 8 -220 229 117

680 70 610 217 -1 218 393

173 ..

511 ..

1,551 ..

903 ..

369 ..

248 ..

306 ..

467 ..

.. 67.4

3.5 81.2

3.8 83.1

3.4 83.4

3.2 85.1

2.8 86.4

2.6 87.5

2.4 90.1

12,881 3,803 1,765 6,031 60 -431 1,773

16,604 3,517 3,029 7,173 181 -622 1,723

19,649 4,657 3,709 9,620 159 -1,217 2,110

21,042 4,989 3,755 10,268 39 -1,532 2,443

20,105 4,293 3,402 8,047 175 -312 2,869

20,877 5,035 3,447 9,203 209 -570 2,570

22,463 5,946 3,665 10,924 276 -1,137 2,153

22,854 6,142 3,927 11,404 515 -1,257 2,806

119.3 35.2 9.9 36.3 42.7 39.1 3.5

264.9 56.1 24.2 19.9 26.3 18.5 2.9

211.6 50.2 23.5 13.1 25.5 21.4 2.6

213.5 50.6 20.2 14.5 26.1 22.9 2.9

241.5 51.6 27.4 8.3 30.7 27.7 4.3

225.0 54.3 21.5 9.8 31.2 22.7 3.4

201.7 53.4 21.6 10.2 30.7 17.9 2.4

216.2 58.1 18.7 12.2 28.5 21.1 3.0

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data from 2005 are World Bank staff estimates based on reports provided by the country.

81


ERITREA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

329.7 298.0 12.0 2.0 19.8

757.2 723.0 12.6 1.6 21.7

896.4 855.7 16.7 3.7 24.0

997.8 957.0 17.5 4.5 23.3

1,050.7 1,013.0 13.9 5.9 23.8

1,041.5 1,002.0 16.2 6.2 23.3

1,055.2 1,013.6 18.4 7.4 23.3

994.1 952.1 18.6 12.6 23.3

298.0 298.0 298.0 0.0 ..

723.0 723.0 690.1 32.9 ..

855.7 855.7 814.7 41.0 ..

957.0 957.0 917.4 39.5 ..

1,013.0 1,013.0 972.1 40.9 ..

1,002.0 1,002.0 964.1 38.0 ..

1,013.6 1,013.6 976.9 36.8 ..

952.1 952.1 914.7 37.5 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

50.7 50.7 50.7 0.0 ..

70.6 70.6 70.6 0.0 ..

42.1 42.1 42.1 0.0 ..

104.9 104.9 104.1 0.8 ..

57.6 57.6 57.6 0.0 ..

8.6 8.6 8.6 0.0 ..

24.2 24.2 24.2 0.0 ..

26.8 26.8 26.8 0.0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

0.5 0.5 0.5 0.0 ..

11.8 11.8 11.8 0.0 ..

1.7 1.7 1.7 0.0 ..

6.5 6.5 6.5 0.0 ..

11.3 11.3 11.3 0.0 ..

13.3 13.3 13.3 0.0 ..

14.0 14.0 14.0 0.0 ..

86.0 86.0 86.0 0.0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

2.5 2.5 2.5 0.0 ..

8.4 8.4 8.4 0.0 ..

4.1 4.1 4.1 0.0 ..

9.1 9.1 9.1 0.0 ..

10.3 10.3 10.3 0.0 ..

9.3 9.3 9.3 0.0 ..

7.9 7.9 7.9 0.0 ..

8.5 8.5 8.3 0.2 ..

60.2 50.2 10.0 0.0 0.0 .. 10.0

38.9 58.9 -20.0 0.0 0.0 .. -20.0

38.4 40.4 -2.0 0.0 0.0 .. -2.0

98.3 97.5 0.8 0.8 0.8 .. ..

41.3 46.3 -5.0 0.0 0.0 .. -5.0

-2.7 -4.7 2.0 0.0 0.0 .. 2.0

11.2 10.2 1.0 0.0 0.0 .. 1.0

-64.3 -59.3 -5.0 0.0 0.0 .. -5.0

27.9 ..

1.4 ..

7.2 ..

39.0 ..

91.0 ..

91.0 ..

39.0 ..

73.7 ..

.. 57.0

5.3 68.5

5.5 67.9

4.7 66.6

4.4 67.8

4.0 67.3

3.7 67.2

4.0 66.5

706.8 106.9 3.3 510.3 4.4 -104.7 25.5

1,089.0 .. .. .. .. .. 27.9

1,310.7 .. .. .. .. .. 34.3

1,368.4 .. .. .. .. .. 57.9

1,840.5 .. .. .. .. .. 90.0

2,097.4 .. .. .. .. .. 114.1

2,584.2 .. .. .. .. .. 114.8

3,063.9 .. .. .. .. .. ..

308.5 46.6 4.3 3.6 46.1 7.7 0.6

.. 69.5 .. 1.7 67.4 3.7 ..

.. 68.4 .. 1.9 68.4 3.8 ..

.. 72.9 .. 1.8 64.5 5.8 ..

.. 57.1 .. 1.3 62.6 8.6 ..

.. 49.7 .. 1.6 62.5 11.0 ..

.. 40.8 .. 1.7 63.1 10.9 ..

.. 32.4 .. 1.9 65.8 .. ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt from 2010 are World Bank staff estimates. Short-term debt is based on data from the BIS.

82


ETHIOPIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

5,509 5,339 79 65 92

6,224 5,928 120 36 176

2,638 2,571 49 32 18

2,896 2,829 50 32 17

5,232 4,819 45 32 368

7,347 6,547 314 30 485

8,604 7,945 175 30 484

10,462 9,941 37 26 484

5,339 5,339 5,226 113 ..

5,928 5,928 5,564 364 ..

2,571 2,571 2,299 272 ..

2,829 2,829 2,590 239 ..

4,819 4,819 3,556 1,263 ..

6,547 6,547 4,638 1,909 ..

7,945 7,945 5,685 2,259 ..

9,941 9,941 7,218 2,723 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

185 185 184 2 ..

527 527 400 127 ..

376 376 376 0 ..

379 379 379 0 ..

2,148 2,148 1,098 1,050 ..

1,760 1,760 1,021 739 ..

1,693 1,693 1,157 537 ..

2,309 2,309 1,645 664 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

72 72 62 10 ..

36 36 25 11 ..

88 88 44 44 ..

72 72 39 33 ..

62 62 34 27 ..

130 130 39 91 ..

259 259 80 179 ..

328 328 122 206 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

52 52 48 4 ..

49 49 40 10 ..

44 44 29 15 ..

39 39 27 11 ..

40 40 33 8 ..

50 50 35 15 ..

91 91 52 38 ..

103 103 58 46 ..

90 109 -19 -8 -8 .. -11

478 371 107 116 116 .. -9

265 333 -68 -44 -44 .. -23

309 340 -32 -33 -33 .. 1

2,246 1,228 1,018 1,023 1,023 .. -5

2,023 1,105 918 647 647 .. 271

1,295 1,077 219 358 358 .. -139

1,847 1,524 324 458 458 .. -134

135 ..

265 ..

222 ..

109 ..

221 ..

288 ..

627 ..

279 ..

.. 75.8

5.6 72.4

17.5 58.3

16.9 55.3

8.5 68.9

10.1 70.3

8.0 72.3

6.9 74.1

8,119 1,008 53 1,673 9 13 306

12,271 1,973 174 4,943 21 -1,568 1,043

19,571 2,726 358 6,941 18 -828 1,290

26,881 3,533 387 9,634 17 -1,806 871

32,147 3,436 262 9,086 18 -2,191 1,781

29,598 4,652 345 9,982 35 -425 ..

31,639 5,824 513 11,736 23 -783 ..

43,037 6,003 624 14,235 6 -2,985 ..

546.3 67.9 13.7 1.4 50.0 5.6 2.2

315.5 50.7 4.8 1.9 75.6 16.8 2.5

96.8 13.5 4.9 1.8 52.2 48.9 2.2

82.0 10.8 3.1 1.7 55.3 30.1 1.1

152.3 16.3 3.0 0.9 44.2 34.0 2.4

157.9 24.8 3.9 4.3 38.3 .. ..

147.7 27.2 6.1 2.0 39.6 .. ..

174.3 24.3 7.2 0.4 39.3 .. ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of HIPC and MDRI debt relief.

83


FIJI (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

181.7 172.4 0.2 0.2 9.1

195.7 185.4 0.4 0.4 9.9

380.3 347.0 22.3 0.3 11.0

390.6 360.5 19.4 0.4 10.7

536.2 360.9 70.1 0.1 105.2

554.6 390.2 61.1 0.1 103.3

860.6 545.5 212.1 0.1 103.0

731.7 610.4 18.1 0.1 103.1

172.4 172.4 172.4 0.0 ..

185.4 185.4 185.4 0.0 ..

347.0 347.0 197.0 150.0 ..

360.5 360.1 210.1 150.0 0.4

360.9 360.4 210.4 150.0 0.5

390.2 389.7 239.7 150.0 0.5

545.5 545.0 295.0 250.0 0.5

610.4 610.0 360.0 250.0 0.5

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

7.1 7.1 7.1 0.0 ..

14.1 14.1 14.1 0.0 ..

12.6 12.6 12.6 0.0 ..

13.4 13.2 13.2 0.0 0.2

15.2 15.0 15.0 0.0 0.3

32.6 32.6 32.6 0.0 0.0

315.4 315.4 65.4 250.0 0.0

78.3 78.2 78.2 0.0 0.0

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

16.9 16.9 16.9 0.0 ..

8.5 8.5 8.5 0.0 ..

10.4 10.4 10.4 0.0 ..

7.8 7.7 7.7 0.0 0.0

10.4 10.3 10.3 0.0 0.0

7.9 7.9 7.9 0.0 0.0

163.8 163.8 13.8 150.0 0.1

11.4 11.3 11.3 0.0 0.1

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

7.7 7.7 7.7 0.0 ..

5.5 5.5 5.5 0.0 ..

16.1 16.1 5.8 10.3 ..

15.8 15.8 5.5 10.3 0.0

14.4 14.4 4.1 10.3 0.0

13.3 13.3 3.0 10.3 0.0

24.9 24.9 3.3 21.6 0.0

26.7 26.7 4.2 22.5 0.0

-9.8 -9.8 0.0 0.0 0.0 .. ..

-47.5 5.5 -53.0 0.0 0.0 .. -53.0

13.2 2.2 11.0 0.0 0.0 .. 11.0

2.6 5.5 -2.9 0.1 0.0 0.1 -3.0

55.9 4.6 51.2 0.2 0.0 0.2 51.0

15.6 24.6 -9.0 0.0 0.0 0.0 -9.0

302.6 51.7 251.0 100.0 100.0 0.0 151.0

-127.1 66.9 -194.0 0.0 0.0 0.0 -194.0

0.6 ..

159.6 1.7

377.0 4.8

350.3 1.4

134.7 -1.1

196.2 0.1

417.2 ..

267.9 ..

.. 49.0

2.3 64.2

1.3 83.4

1.1 82.7

0.6 83.5

0.5 80.8

.. 81.4

.. 76.3

1,717.4 1,023.2 44.0 1,136.4 7.5 -25.5 411.8

3,050.1 1,600.7 203.7 2,038.7 132.8 -257.5 320.9

3,329.5 1,631.3 183.2 2,258.1 127.1 -436.2 527.6

3,503.4 1,913.4 146.7 2,752.7 122.3 -647.3 321.5

2,870.6 1,375.0 171.2 1,783.5 48.0 -224.8 569.1

3,072.1 1,755.3 173.8 2,236.0 143.4 -360.3 719.4

3,698.9 .. .. .. .. -152.4 832.2

3,829.6 .. .. .. .. 70.2 920.0

17.8 10.6 2.4 0.1 48.9 226.7 4.3

12.2 6.4 0.9 0.2 46.9 164.0 1.9

23.3 11.4 1.7 5.9 26.7 138.7 2.8

20.4 11.1 1.3 5.0 27.8 82.3 1.4

39.0 18.7 1.9 13.1 19.2 106.1 3.8

31.6 18.1 1.3 11.0 20.7 129.7 3.9

.. 23.3 .. 24.6 14.6 96.7 ..

.. 19.1 .. 2.5 18.4 125.7 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term private nonguaranteed debt data for 2012 are World Bank staff estimates. Short-term debt is based on data from the BIS.

84


GABON (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

3,920 3,457 355 63 107

3,898 3,564 246 186 88

2,883 2,611 225 10 47

2,153 2,016 115 5 22

2,324 1,991 104 1 230

2,517 2,121 170 0 226

2,783 2,372 185 0 225

2,870 2,534 111 0 225

3,457 3,457 3,338 119 ..

3,564 3,564 3,444 119 ..

2,611 2,611 1,476 1,135 ..

2,016 2,016 954 1,062 ..

1,991 1,991 893 1,098 ..

2,121 2,121 877 1,244 ..

2,372 2,372 913 1,459 ..

2,534 2,534 981 1,553 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

34 34 13 21 ..

18 18 18 0 ..

1,089 1,089 41 1,048 ..

107 107 62 45 ..

261 261 147 114 ..

466 466 189 276 ..

540 540 207 333 ..

401 401 180 221 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

188 188 160 27 ..

112 112 63 48 ..

2,234 2,234 2,195 39 ..

552 552 492 61 ..

261 261 222 39 ..

298 298 177 120 ..

257 257 165 91 ..

260 260 119 142 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

124 124 118 7 ..

52 52 46 7 ..

366 366 361 5 ..

218 218 133 85 ..

141 141 49 91 ..

131 131 32 99 ..

127 127 30 97 ..

129 129 28 102 ..

-363 -140 -223 -7 -7 .. -216

-58 -70 12 -48 -48 .. 60

-1,054 -2,188 1,134 1,009 1,009 .. 125

-575 -454 -121 -16 -16 .. -105

-7 -75 69 76 76 .. -7

235 12 223 156 156 .. 67

298 42 257 242 242 .. 15

67 61 5 79 79 .. -74

-43 ..

326 ..

269 ..

773 ..

573 ..

499 ..

696 ..

702 ..

.. 29.1

47.5 36.2

34.9 44.5

25.8 55.5

23.9 56.0

25.2 55.4

28.1 52.1

29.1 50.4

4,289 3,547 6 2,483 473 1,001 190

7,708 5,639 11 3,387 765 1,983 669

10,082 .. .. .. .. 2,046 1,227

13,882 .. .. .. .. 3,402 1,923

11,068 .. .. .. .. 1,625 1,993

12,732 .. .. .. .. .. 1,736

16,298 .. .. .. .. .. 2,157

16,577 .. .. .. .. .. 2,352

110.5 91.4 9.9 9.1 11.9 4.8 0.9

69.1 50.6 3.4 6.3 10.1 17.2 2.4

.. 28.6 .. 7.8 14.1 42.6 ..

.. 15.5 .. 5.3 17.7 89.3 ..

.. 21.0 .. 4.5 17.2 85.8 ..

.. 19.8 .. 6.8 15.3 69.0 ..

.. 17.1 .. 6.6 15.9 77.5 ..

.. 17.3 .. 3.9 16.6 81.9 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt data before 2008 are World Bank staff estimates based on reports provided by the country. Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt buyback agreement signed in 2007.

85


GAMBIA, THE (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

490.1 438.0 27.3 0.0 24.8

667.1 616.5 22.4 1.4 28.1

700.1 664.0 21.6 0.6 14.4

373.0 336.8 15.9 1.9 20.2

506.2 387.6 43.4 2.4 75.2

512.3 391.0 44.3 2.3 77.0

475.8 394.4 1.1 1.1 80.3

512.9 395.8 22.6 1.6 94.4

438.0 438.0 437.0 1.0 ..

616.5 616.5 616.5 0.0 ..

664.0 664.0 664.0 0.0 ..

336.8 336.8 334.3 2.5 ..

387.6 387.6 384.2 3.4 ..

391.0 391.0 384.6 6.4 ..

394.4 394.4 390.3 4.1 ..

395.8 395.8 386.2 9.6 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

20.7 20.7 20.7 0.0 ..

54.3 54.3 54.3 0.0 ..

39.9 39.9 39.9 0.0 ..

37.3 37.3 35.8 1.5 ..

33.5 33.5 32.7 0.8 ..

43.2 43.2 36.8 6.4 ..

24.3 24.3 24.3 0.0 ..

25.2 25.2 17.8 7.3 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

12.7 12.7 12.3 0.4 ..

16.1 16.1 15.8 0.3 ..

20.1 20.1 20.1 0.0 ..

10.3 10.3 10.3 0.0 ..

11.3 11.3 11.3 0.0 ..

15.8 15.8 12.6 3.2 ..

18.4 18.4 16.2 2.2 ..

17.8 17.8 15.7 2.1 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

6.0 6.0 5.9 0.1 ..

9.4 9.4 9.4 0.0 ..

8.8 8.8 8.8 0.0 ..

5.8 5.8 5.8 0.0 ..

7.0 7.0 7.0 0.0 ..

6.6 6.6 6.6 0.0 ..

6.3 6.3 6.2 0.1 ..

6.1 6.1 5.9 0.2 ..

20.6 15.8 4.8 -0.4 -0.4 .. 5.2

33.2 36.5 -3.3 -0.3 -0.3 .. -3.0

26.2 22.2 4.0 .. .. .. 4.0

26.3 31.8 -5.5 1.5 1.5 .. -7.0

64.9 37.1 27.8 0.8 0.8 .. 27.0

31.5 27.3 4.2 3.2 3.2 .. 1.0

-32.5 11.7 -44.2 -2.2 -2.2 .. -42.0

42.4 16.1 26.3 5.3 5.3 .. 21.0

.. ..

53.7 ..

78.1 ..

78.6 ..

39.4 ..

37.4 ..

36.2 ..

33.5 ..

.. 51.2

3.5 55.2

3.6 48.0

5.2 50.8

5.0 46.6

5.1 46.9

3.5 45.7

4.9 43.0

752.7 .. .. .. .. .. 109.4

601.7 189.8 59.3 305.0 26.9 -43.4 98.3

773.0 271.3 55.7 419.8 38.4 -58.4 142.8

940.1 335.8 64.8 407.4 42.8 10.9 116.5

872.6 290.1 79.8 362.3 11.7 63.0 224.2

922.3 284.9 115.7 341.3 11.5 56.3 201.6

867.6 318.9 107.9 392.8 11.3 109.8 223.2

874.5 343.8 141.0 468.0 10.2 57.6 236.2

.. 65.1 .. 5.6 70.1 22.3 ..

351.5 110.9 15.1 3.4 75.3 14.7 3.9

258.1 90.6 12.5 3.1 78.0 20.4 4.1

111.1 39.7 5.1 4.3 58.1 31.2 3.4

174.5 58.0 6.5 8.6 53.1 44.3 7.4

179.8 55.5 8.1 8.7 51.6 39.4 7.1

149.2 54.8 7.9 0.2 57.8 46.9 6.8

149.2 58.7 7.1 4.4 54.2 46.1 6.1

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of HIPC and MDRI debt relief.

86


GEORGIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,826 1,316 44 1 466

2,151 1,663 50 11 438

2,897 1,844 574 7 479

7,633 6,003 948 7 682

8,556 6,736 808 7 1,012

9,519 7,284 963 7 1,272

11,359 8,605 1,545 84 1,210

13,426 10,302 2,159 389 965

1,316 1,274 1,272 2 42

1,663 1,531 1,529 2 132

1,844 1,604 1,602 2 241

6,003 2,974 1,780 1,194 3,029

6,736 3,529 2,155 1,375 3,207

7,284 4,141 2,450 1,691 3,143

8,605 4,343 2,706 1,637 4,262

10,302 4,876 3,097 1,778 5,426

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

65 37 37 0 28

146 76 76 0 69

193 100 100 0 93

893 725 225 500 168

1,147 678 427 250 469

1,190 815 401 414 375

1,785 843 343 500 942

2,652 690 431 258 1,963

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

42 41 41 0 2

103 80 80 0 23

103 86 85 0 17

423 110 40 70 314

474 140 70 70 334

510 169 71 97 342

1,199 620 67 553 579

956 165 48 118 790

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

43 42 42 0 1

28 24 24 0 4

33 25 25 0 8

225 54 28 27 171

251 77 31 45 174

247 87 39 47 160

307 139 35 104 167

410 112 38 73 298

33 -29 62 26 0 26 36

-30 -17 -14 46 0 47 -60

231 17 213 75 0 75 138

1,065 406 659 285 430 -145 374

846 670 176 316 181 136 -140

1,111 605 505 350 316 34 156

1,031 216 815 310 -53 363 505

1,762 139 1,622 1,313 141 1,172 309

131 ..

453 3

1,878 34

1,591 115

653 12

869 -22

1,084 -7

831 74

.. 82.3

19.7 73.3

16.7 73.1

9.0 81.7

7.9 80.3

8.0 80.7

9.7 78.4

12.5 73.5

3,175 1,007 274 1,433 36 -177 116

6,473 2,415 446 3,469 116 -695 479

10,209 3,645 883 6,325 298 -1,991 1,361

12,680 4,245 1,065 8,115 358 -2,810 1,480

10,679 3,672 1,112 5,779 262 -1,139 2,110

11,416 4,591 1,184 6,885 470 -1,196 2,264

14,012 6,000 1,547 9,168 800 -1,840 2,818

15,723 7,099 1,770 10,357 747 -1,850 2,873

181.3 57.5 12.5 2.4 26.2 6.4 1.0

89.1 33.2 8.1 2.3 38.1 22.2 1.7

79.5 28.4 6.0 19.8 35.0 47.0 2.6

179.8 60.2 16.7 12.4 15.6 19.4 2.2

233.0 80.1 21.0 9.4 17.9 24.7 4.4

207.4 83.4 17.5 10.1 18.9 23.8 3.9

189.3 81.1 26.8 13.6 17.8 24.8 3.7

189.1 85.4 23.3 16.1 17.2 21.4 3.3

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

87


GHANA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

6,261 5,314 572 10 375

7,182 6,059 616 38 507

5,113 3,565 1,282 27 266

5,689 4,084 1,346 8 259

7,190 5,032 1,332 50 826

9,316 6,116 2,264 28 937

11,296 7,400 2,795 105 1,101

12,436 8,606 2,577 106 1,253

5,314 5,057 4,705 352 257

6,059 6,059 5,496 563 0

3,565 3,565 2,137 1,428 0

4,084 4,084 2,600 1,485 0

5,032 5,032 3,329 1,703 0

6,116 6,116 4,220 1,895 0

7,400 7,400 5,133 2,267 0

8,606 8,606 5,979 2,627 0

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

425 425 342 82 0

560 560 485 74 0

1,312 1,312 436 876 0

757 757 600 156 0

1,005 1,005 726 279 0

1,310 1,310 998 312 0

1,534 1,534 1,025 509 0

1,597 1,597 1,060 537 0

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

217 214 141 73 3

190 190 127 63 0

134 134 64 70 0

137 137 64 73 0

138 138 56 82 0

151 151 75 76 0

199 199 90 108 0

440 440 244 196 0

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

95 80 64 16 14

88 88 57 30 0

66 66 31 35 0

130 130 34 96 0

107 107 46 61 0

160 160 72 88 0

98 98 61 37 0

192 192 87 104 0

70 199 -129 6 9 -3 -136

268 366 -98 11 11 .. -109

1,309 372 937 806 806 .. 131

702 537 166 83 83 .. 83

916 775 141 197 197 .. -56

2,238 1,048 1,190 236 236 .. 954

1,961 1,106 855 401 401 .. 454

1,088 965 123 342 342 .. -219

166 ..

145 ..

1,383 ..

2,715 ..

2,373 535

2,527 18

3,222 1

3,295 ..

.. 68.0

4.7 77.4

16.5 56.1

18.7 54.0

21.1 51.7

19.2 54.0

18.6 55.4

17.6 56.3

4,836 2,456 32 3,473 17 -386 232

10,601 3,952 99 6,851 94 -1,105 1,753

24,617 6,088 117 10,510 334 -2,379 1,984

28,412 7,156 126 12,695 -80 -3,327 1,770

25,885 7,735 114 11,710 495 -1,897 3,386

31,765 9,490 136 14,560 396 -2,747 4,763

37,922 14,712 152 20,813 1,062 -3,504 5,483

38,564 16,858 138 24,186 1,915 -4,778 5,368

254.9 129.5 16.0 9.1 58.5 3.7 0.8

181.7 67.7 8.5 8.6 70.2 24.4 3.1

84.0 20.8 3.9 25.1 30.2 38.8 2.3

79.5 20.0 4.2 23.6 33.4 31.1 1.7

93.0 27.8 3.6 18.5 32.4 47.1 3.5

98.2 29.3 3.9 24.3 29.5 51.1 3.9

76.8 29.8 2.3 24.7 29.0 48.5 3.2

73.8 32.2 4.2 20.7 29.7 43.2 2.7

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt data for 2012 are World Bank staff estimates. Long-term private nonguaranteed debt data only cover bonds. Short-term debt is based on data from the BIS. Data include the effects of MDRI debt relief.

88


GRENADA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

203.5 180.7 21.6 4.5 1.2

407.2 391.3 6.3 4.3 9.7

537.6 479.5 49.0 12.0 9.1

551.8 477.2 60.2 11.2 14.4

571.4 494.6 36.3 13.3 40.5

578.1 493.3 38.6 14.6 46.3

566.9 487.2 33.8 15.8 45.9

590.6 489.9 55.2 39.2 45.5

180.7 180.7 116.8 63.9 ..

391.3 391.3 172.4 218.9 ..

479.5 479.5 231.6 247.9 ..

477.2 477.2 257.2 219.9 ..

494.6 494.6 274.6 219.9 ..

493.3 493.3 277.7 215.6 ..

487.2 487.2 273.2 214.0 ..

489.9 489.9 275.8 214.0 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

77.6 77.6 19.8 57.8 ..

38.5 38.5 38.5 0.0 ..

24.3 24.3 24.3 0.0 ..

30.5 30.5 30.5 0.0 ..

25.7 25.7 25.7 0.0 ..

21.1 21.1 21.1 0.0 ..

6.3 6.3 6.3 0.0 ..

8.7 8.7 8.7 0.0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

10.1 10.1 6.3 3.7 ..

5.6 5.6 5.3 0.4 ..

7.2 7.2 7.2 0.0 ..

8.9 8.9 8.9 0.0 ..

9.4 9.4 9.4 0.0 ..

15.4 15.4 11.0 4.4 ..

13.5 13.5 10.6 2.9 ..

6.3 6.3 6.3 0.0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

3.4 3.4 2.3 1.1 ..

3.3 3.3 3.3 0.0 ..

8.6 8.6 5.6 3.0 ..

8.3 8.3 5.6 2.6 ..

11.1 11.1 5.8 5.4 ..

10.9 10.9 5.7 5.2 ..

11.5 11.5 6.4 5.1 ..

8.2 8.2 3.6 4.6 ..

63.4 13.4 50.0 54.1 54.1 .. -4.1

-28.1 33.2 -61.4 -0.4 -0.4 .. -61.0

22.8 14.8 8.0 0.0 0.0 .. 8.0

39.3 27.3 12.0 0.0 0.0 .. 12.0

0.0 26.0 -26.0 0.0 0.0 .. -26.0

13.1 16.5 -3.4 -4.4 -4.4 .. 1.0

-13.4 -4.5 -8.9 -2.9 -2.9 .. -6.0

-0.1 1.9 -2.0 0.0 0.0 .. -2.0

37.4 ..

70.2 ..

156.6 ..

134.8 ..

102.6 ..

60.4 ..

42.6 ..

30.2 ..

.. 78.4

0.4 91.3

0.3 92.1

0.3 91.0

0.3 90.3

0.3 91.0

0.3 91.3

0.3 91.3

489.5 240.8 46.4 349.0 27.8 -88.1 57.7

672.1 160.3 26.8 435.9 22.7 -193.3 94.3

717.6 223.2 28.6 491.1 35.7 -241.7 110.6

783.3 215.9 28.9 502.5 31.7 -251.9 105.3

708.2 195.3 27.7 432.1 55.4 -197.2 129.1

729.8 190.8 28.5 425.3 30.8 -202.6 119.2

748.6 199.5 28.9 428.1 20.6 -204.5 120.7

751.3 199.5 29.4 438.3 21.0 -214.4 119.5

84.5 41.6 6.0 10.6 31.1 28.3 2.0

254.0 60.6 6.6 1.5 27.2 23.1 2.6

240.9 74.9 8.8 9.1 28.0 20.6 2.7

255.6 70.4 10.0 10.9 30.6 19.1 2.5

292.7 80.7 12.0 6.4 32.0 22.6 3.6

303.0 79.2 14.0 6.7 32.5 20.6 3.4

284.2 75.7 12.8 6.0 32.8 21.3 3.4

296.0 78.6 7.7 9.3 32.0 20.2 3.3

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

89


GUATEMALA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

3,948 2,740 1,172 317 36

9,506 8,014 1,453 414 40

12,676 10,629 2,004 0 44

13,821 11,627 2,151 0 43

14,822 13,281 1,226 0 315

15,039 13,144 1,585 0 309

16,286 13,712 2,265 0 308

14,975 12,697 1,970 0 309

2,740 2,598 2,156 442 142

8,014 3,720 2,484 1,237 4,294

10,629 4,220 3,265 955 6,408

11,627 4,383 3,427 955 7,245

13,281 4,923 3,968 955 8,358

13,144 5,555 4,600 955 7,589

13,712 5,358 4,728 630 8,354

12,697 6,145 4,815 1,330 6,551

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

220 220 220 0 0

1,639 144 144 0 1,495

2,237 599 599 0 1,638

958 396 396 0 562

941 807 807 0 135

1,471 879 879 0 592

1,031 399 399 0 633

1,373 1,071 371 700 302

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

192 172 139 32 20

570 200 199 1 371

875 360 210 150 515

917 260 260 0 656

1,086 269 269 0 817

949 264 264 0 685

1,343 600 275 325 743

839 259 259 0 580

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

153 134 112 23 19

420 203 102 101 217

570 249 149 101 321

621 257 169 88 365

657 258 170 88 399

636 284 196 88 352

684 284 196 88 401

528 210 177 34 318

62 80 -18 -52 -32 -20 34

906 -56 961 1,124 -1 1,125 -163

1,892 390 1,503 973 -150 1,123 530

188 136 52 -95 0 -95 147

-1,070 537 -1,607 -682 0 -682 -925

881 615 266 -93 0 -93 359

368 123 245 -435 -325 -110 680

239 111 127 422 700 -278 -295

230 ..

540 ..

859 ..

751 ..

696 ..

921 ..

1,140 ..

1,150 ..

.. 73.3

2.5 85.0

2.1 87.4

1.9 87.9

1.7 89.5

1.3 90.7

1.3 90.7

1.2 92.5

19,065 4,077 596 5,991 248 -1,050 1,746

26,726 7,069 3,067 11,886 370 -1,241 3,664

33,270 9,270 4,236 15,910 819 -1,786 4,130

38,199 10,264 4,460 17,052 886 -1,681 4,462

36,632 9,572 4,019 14,190 951 8 4,964

40,129 11,108 4,232 16,680 1,001 -626 5,637

45,330 13,106 4,524 19,838 1,453 -1,599 5,835

49,426 12,809 5,035 19,963 1,192 -1,447 6,325

96.8 20.7 9.7 29.7 38.5 44.2 3.5

134.5 35.6 14.8 15.3 21.5 38.5 3.7

136.7 38.1 16.4 15.8 22.9 32.6 3.1

134.7 36.2 15.7 15.6 22.2 32.3 3.1

154.8 40.5 18.4 8.3 24.4 33.5 4.2

135.4 37.5 14.4 10.5 28.2 37.5 4.1

124.3 35.9 15.7 13.9 26.9 35.8 3.5

116.9 30.3 10.9 13.2 30.0 42.2 3.8

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt data for 2012 are World Bank staff estimates based on the original terms of the loans. Long-term private nonguaranteed debt data are World Bank staff estimates based on reports provided by the country. Short-term debt is based on data from the BIS.

90


GUINEA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

3,083 2,650 298 81 136

2,968 2,771 84 84 113

3,224 2,992 139 95 92

3,165 2,873 194 38 98

3,128 2,868 40 38 220

3,127 2,798 124 56 205

3,139 2,849 91 80 199

1,097 842 40 40 215

2,650 2,650 2,621 29 ..

2,771 2,771 2,740 31 ..

2,992 2,992 2,957 35 ..

2,873 2,873 2,855 18 ..

2,868 2,868 2,850 19 ..

2,798 2,798 2,780 18 ..

2,849 2,849 2,831 18 ..

842 842 830 12 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

71 71 71 0 ..

93 93 92 1 ..

74 74 72 2 ..

63 63 63 0 ..

42 42 42 0 ..

32 32 32 0 ..

33 33 33 0 ..

39 39 39 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

91 91 91 0 ..

84 84 84 0 ..

78 78 78 0 ..

78 78 78 0 ..

77 77 77 0 ..

45 45 45 0 ..

133 133 133 0 ..

90 90 90 0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

41 41 41 0 ..

45 45 45 0 ..

44 44 44 0 ..

27 27 27 0 ..

24 24 24 0 ..

17 17 17 0 ..

31 31 31 0 ..

17 17 17 0 ..

-41 -28 -13 0 0 .. -12

-17 -18 1 1 1 .. ..

-32 -16 -16 2 2 .. -18

105 -7 112 0 0 .. 112

-202 -48 -154 0 0 .. -154

42 -24 66 0 0 .. 66

-163 -106 -57 0 0 .. -57

-47 -36 -11 0 0 .. -11

10 ..

105 ..

386 ..

382 ..

141 ..

101 ..

956 ..

605 ..

.. 60.0

10.7 62.9

13.2 62.1

12.7 65.0

13.3 64.4

12.5 64.4

11.8 65.5

5.8 60.1

2,922 758 1 973 8 -140 148

2,658 929 42 1,079 .. -160 95

3,832 1,313 15 1,637 54 -455 ..

3,341 1,455 62 1,911 14 -438 ..

3,711 1,144 52 1,581 88 -403 ..

4,302 1,549 46 1,892 0 -327 ..

4,651 1,528 65 2,829 26 -1,161 103

6,237 2,118 66 3,289 39 -1,039 ..

406.9 105.5 20.7 9.7 52.2 4.8 1.8

319.5 111.7 16.8 2.8 60.4 3.2 1.1

245.6 84.1 11.2 4.3 60.1 .. ..

217.5 94.7 8.8 6.1 60.4 .. ..

273.4 84.3 10.1 1.3 60.5 .. ..

201.9 72.7 4.7 4.0 59.6 .. ..

205.4 67.5 11.2 2.9 61.0 3.3 0.4

51.8 17.6 7.0 3.6 55.7 .. ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt data are World Bank staff estimates based on the original terms of the loans. Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement signed in 2010, 2012 and HIPC debt relief.

91


GUINEA-BISSAU (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

947.8 821.1 100.4 87.4 26.3

1,021.7 887.8 120.7 118.7 13.2

1,091.3 934.8 149.4 142.4 7.1

1,098.3 941.4 146.5 144.5 10.5

1,149.0 963.3 154.5 147.5 31.3

1,128.6 977.3 126.6 125.6 24.7

283.7 218.5 33.1 33.1 32.0

279.5 213.4 34.1 33.1 32.0

821.1 821.1 821.1 0.0 ..

887.8 887.8 887.8 0.0 ..

934.8 934.8 934.8 0.0 ..

941.4 941.4 941.4 0.0 ..

963.3 963.3 963.3 0.0 ..

977.3 977.3 977.3 0.0 ..

218.5 218.5 218.5 0.0 ..

213.4 213.4 213.4 0.0 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

13.6 13.6 13.6 0.0 ..

15.6 15.6 15.6 0.0 ..

16.1 16.1 16.1 0.0 ..

7.6 7.6 7.6 0.0 ..

6.0 6.0 6.0 0.0 ..

4.0 4.0 4.0 0.0 ..

9.1 9.1 9.1 0.0 ..

2.7 2.7 2.7 0.0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

2.6 2.6 2.4 0.2 ..

1.0 1.0 1.0 0.0 ..

3.6 3.6 3.6 0.0 ..

4.1 4.1 4.1 0.0 ..

4.7 4.7 4.7 0.0 ..

5.8 5.8 5.8 0.0 ..

4.5 4.5 4.5 0.0 ..

6.3 6.3 6.3 0.0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1.6 1.6 1.6 0.0 ..

2.0 2.0 2.0 0.0 ..

3.3 3.3 3.3 0.0 ..

3.4 3.4 3.4 0.0 ..

3.7 3.7 3.7 0.0 ..

3.3 3.3 3.3 0.0 ..

0.5 0.5 0.5 0.0 ..

0.6 0.6 0.6 0.0 ..

29.4 19.6 9.8 -0.2 -0.2 .. 10.0

10.4 11.4 -1.0 0.0 0.0 .. -1.0

16.2 9.2 7.0 0.0 0.0 .. 7.0

2.1 7.1 -5.0 0.0 0.0 .. -5.0

7.4 2.4 5.0 0.0 0.0 .. 5.0

-0.2 5.8 -6.0 0.0 0.0 .. -6.0

11.2 12.2 -1.0 0.0 0.0 .. -1.0

-2.7 -3.7 1.0 0.0 0.0 .. 1.0

0.7 ..

8.7 ..

18.8 0.2

6.6 ..

-1.3 -0.2

1.5 2.7

25.0 ..

16.2 ..

.. 34.0

10.3 46.4

12.0 49.5

11.3 50.0

11.4 50.2

9.3 53.8

.. 48.8

.. 49.6

203.1 .. 8.0 .. .. .. 66.8

561.4 95.2 19.9 156.9 .. -10.5 79.8

686.8 140.9 43.0 246.5 .. -30.6 112.9

829.4 172.1 49.5 298.9 0.3 -28.8 124.6

822.4 163.4 48.9 308.9 5.6 -47.6 168.6

834.5 183.8 45.9 314.6 5.7 -70.8 156.4

967.3 .. .. .. .. -13.9 220.0

896.0 .. .. .. .. .. 164.6

.. 466.8 .. 10.6 41.8 7.0 ..

1072.9 182.0 6.7 11.8 45.4 7.8 6.1

774.7 158.9 7.5 13.7 47.7 10.3 5.5

638.2 132.4 5.7 13.3 47.2 11.3 5.0

703.2 139.7 6.2 13.4 45.3 14.7 6.5

614.0 135.2 9.5 11.2 44.8 13.9 6.0

.. 29.3 .. 11.7 40.4 77.6 ..

.. 31.2 .. 12.2 39.6 58.9 ..

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Long-term public and publicly guaranteed debt data are World Bank staff estimates. Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement and HIPC and MDRI debt relief.

92


GUYANA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,384 1,129 119 67 136

1,237 1,043 82 82 112

759 584 93 93 82

850 675 96 96 79

1,172 781 196 97 195

1,485 885 410 103 190

1,846 1,054 609 107 182

1,974 1,215 588 111 171

1,129 1,125 1,080 45 4

1,043 1,041 1,033 9 2

584 584 575 8 ..

675 675 654 21 ..

781 779 758 21 2

885 885 864 21 0

1,054 1,054 1,034 21 0

1,215 1,215 1,194 21 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

64 64 64 0 0

104 104 104 0 0

101 101 101 0 ..

138 138 138 0 ..

105 105 105 0 0

123 123 123 0 0

188 188 188 0 0

279 279 279 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

23 22 22 0 0

16 15 15 0 0

16 16 16 0 ..

16 16 16 0 ..

8 8 8 0 0

16 16 16 0 0

20 20 20 0 0

119 119 119 0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

26 26 26 0 0

10 10 10 0 0

9 9 9 0 ..

10 10 10 0 ..

11 10 10 0 0

11 11 11 0 0

13 13 13 0 0

13 13 13 0 ..

21 34 -14 0 0 0 -13

76 108 -32 -1 0 0 -31

9 85 -76 .. .. .. -76

122 122 .. .. .. .. ..

195 96 99 0 .. 0 99

314 106 208 0 .. 0 208

355 160 195 0 .. 0 195

124 149 -25 .. .. .. -25

67 ..

77 ..

152 ..

178 ..

164 ..

198 ..

247 ..

276 ..

.. 69.3

2.1 74.3

4.6 86.5

3.5 88.8

2.9 90.2

2.2 90.3

1.7 89.9

1.4 88.9

661 684 27 813 6 -82 305

804 697 201 960 7 -96 252

1,705 889 283 1,288 -7 -112 313

1,908 1,055 274 1,705 12 -321 356

2,009 978 262 1,509 13 -231 631

2,272 1,183 368 1,709 13 -155 782

2,567 1,479 412 2,265 18 -372 802

2,849 1,742 469 2,556 8 -395 864

202.4 209.5 10.2 8.6 43.4 22.0 4.5

177.5 153.7 5.0 6.6 68.8 20.4 3.1

85.3 44.5 3.2 12.3 48.4 41.3 2.9

80.6 44.6 2.5 11.3 44.8 41.9 2.5

119.8 58.3 2.1 16.7 38.2 53.9 5.0

125.5 65.4 2.7 27.6 33.8 52.7 5.5

124.8 71.9 3.1 33.0 29.9 43.4 4.2

113.3 69.3 8.7 29.8 30.7 43.8 4.1

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Principal payment shown for 2012 include the price of rice exchanged under "Rice for oil". Data include the effects of HIPC and MDRI debt relief.

93


HAITI (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

1,203 1,056 90 1 57

1,347 1,278 28 15 41

1,601 1,525 0 0 77

1,972 1,846 0 0 126

1,448 1,158 0 0 291

985 850 0 0 135

783 635 0 0 148

1,154 985 0 0 169

1,056 1,056 1,056 0 ..

1,278 1,278 1,278 0 ..

1,525 1,525 1,525 0 ..

1,846 1,846 1,846 0 ..

1,158 1,158 1,158 0 ..

850 850 850 0 ..

635 635 635 0 ..

985 985 985 0 ..

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

51 51 51 0 ..

77 77 77 0 ..

97 97 97 0 ..

356 356 356 0 ..

212 212 212 0 ..

284 284 284 0 ..

341 341 341 0 ..

346 346 346 0 ..

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

19 19 19 0 ..

34 34 34 0 ..

23 23 23 0 ..

34 34 34 0 ..

26 26 26 0 ..

122 122 122 0 ..

2 2 2 0 ..

1 1 1 0 ..

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

15 15 15 0 ..

17 17 17 0 ..

22 22 22 0 ..

23 23 23 0 ..

15 15 15 0 ..

8 8 8 0 ..

3 3 3 0 ..

3 3 3 0 ..

20 26 -6 0 0 .. -6

21 55 -34 0 0 .. -34

-14 94 -108 0 0 .. -108

372 372 0 0 0 .. ..

243 243 0 0 0 .. ..

286 286 0 0 0 .. ..

351 351 0 0 0 .. ..

368 368 0 0 0 .. ..

13 ..

26 ..

75 ..

30 ..

38 ..

150 ..

181 ..

179 ..

.. 81.1

3.4 80.4

5.7 80.9

5.0 84.1

4.0 87.3

3.6 88.6

.. 89.8

.. 93.4

.. 504 578 1,378 .. -114 182

4,228 605 986 1,888 .. 7 133

5,973 801 1,222 2,404 .. -86 452

6,413 861 1,370 2,876 .. -289 541

6,483 961 1,376 2,823 .. -226 789

6,657 835 1,474 4,098 .. -166 1,335

7,387 1,061 1,571 4,157 .. -339 1,195

7,912 1,114 .. 3,853 .. -349 1,284

238.9 .. 9.2 7.5 76.4 15.1 1.6

222.6 31.9 9.5 2.1 79.9 9.9 0.8

199.9 26.8 10.4 .. 77.9 28.2 2.3

229.1 30.8 6.7 .. 67.4 27.5 2.3

150.7 22.3 4.7 .. 35.9 54.4 3.4

118.0 14.8 15.7 0.0 56.5 135.5 3.9

73.8 10.6 0.5 .. 9.8 152.6 3.4

103.6 14.6 0.3 .. 6.8 111.3 4.0

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club restructuring agreements signed in 2006 and 2009 and HIPC and MDRI debt relief.

94


HONDURAS (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

5,478 4,863 374 35 241

5,170 4,654 321 12 195

3,000 2,621 317 5 62

3,489 2,963 466 3 61

3,806 3,330 249 10 226

3,977 3,382 374 11 220

4,388 3,905 267 6 215

4,987 4,433 345 6 209

4,863 4,303 4,201 102 560

4,654 4,145 4,090 55 509

2,621 1,997 1,959 39 624

2,963 2,306 2,269 37 657

3,330 2,451 2,364 87 880

3,382 2,803 2,719 84 579

3,905 3,186 3,106 81 719

4,433 3,645 3,543 102 788

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

347 163 159 4 184

481 302 297 4 179

385 230 229 1 155

649 431 430 1 218

703 246 196 50 457

904 452 452 0 452

1,453 558 558 0 894

1,416 513 493 20 903

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

259 93 91 1 166

265 139 138 1 126

234 105 103 2 130

277 54 53 1 223

341 107 106 1 234

452 62 61 1 390

922 65 63 2 856

826 60 60 0 767

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

108 77 76 0 31

83 64 63 0 20

81 53 53 0 28

77 49 49 0 27

68 41 41 0 27

56 46 46 0 10

74 59 58 0 15

89 70 70 0 19

42 84 -42 20 3 18 -63

155 159 -4 57 4 54 -61

182 126 56 25 0 25 31

523 377 146 -5 0 -6 151

139 90 49 272 49 223 -223

575 389 185 62 -1 62 124

424 490 -66 36 -2 38 -102

662 427 234 157 20 136 78

382 ..

601 ..

967 ..

1,201 ..

494 ..

485 ..

1,043 ..

1,068 ..

.. 64.9

5.7 72.4

8.8 68.0

9.3 69.1

10.0 69.0

8.3 73.3

7.2 76.2

7.0 78.1

6,951 4,001 484 5,047 160 -508 1,313

9,259 3,817 1,805 6,016 479 -304 2,327

11,963 4,641 2,614 8,428 535 -1,115 2,528

13,364 5,013 2,821 10,116 534 -2,129 2,473

13,540 4,318 2,477 7,514 602 -557 2,086

14,668 4,839 2,618 8,557 681 -836 2,671

16,450 6,245 2,811 10,851 910 -1,498 2,750

16,687 6,707 2,909 11,654 1,218 -1,744 2,495

136.9 78.8 9.9 6.8 50.7 24.0 3.1

135.5 55.8 10.0 6.2 61.7 45.0 4.6

64.6 25.1 7.2 10.6 42.6 84.3 3.6

69.6 26.1 7.4 13.3 41.2 70.9 2.9

88.1 28.1 9.6 6.5 40.0 54.8 3.3

82.2 27.1 10.6 9.4 47.7 67.2 3.7

70.3 26.7 16.1 6.1 53.2 62.7 3.0

74.4 29.9 13.8 6.9 55.2 50.0 2.6

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

Notes: Data include the effects of HIPC and MDRI debt relief.

95


HUNGARY (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

30,754 25,310 4,152 0 1,291

86,226 66,184 18,626 0 1,416

174,521 139,622 33,333 0 1,566

222,899 186,755 28,125 0 8,019

239,941 197,704 28,711 0 13,526

215,921 169,836 32,798 0 13,287

210,737 165,850 31,641 0 13,246

203,757 172,700 22,745 0 8,311

25,310 14,296 1,860 12,437 11,014

66,184 33,675 2,401 31,274 32,509

139,622 50,552 3,367 47,185 89,070

186,755 50,026 8,640 41,386 136,729

197,704 54,802 16,155 38,647 142,902

169,836 53,966 17,508 36,458 115,870

165,850 52,652 14,998 37,654 113,198

172,700 62,140 15,528 46,612 110,560

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

6,283 1,115 133 982 5,168

26,467 6,254 623 5,631 20,213

52,795 6,767 259 6,508 46,028

112,009 8,346 6,582 1,764 103,663

105,860 8,947 7,221 1,726 96,913

67,411 4,755 2,911 1,844 62,656

113,838 7,795 1,331 6,464 106,043

99,030 11,783 579 11,204 87,247

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

6,443 2,512 343 2,169 3,931

21,833 4,209 214 3,995 17,624

28,209 1,618 190 1,428 26,591

66,568 9,605 952 8,653 56,964

101,707 5,612 226 5,386 96,095

94,173 3,060 374 2,686 91,113

110,860 8,217 3,363 4,854 102,644

95,875 2,814 382 2,432 93,062

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

1,319 937 126 811 382

1,942 893 87 806 1,049

3,877 1,233 145 1,088 2,644

6,662 1,497 291 1,207 5,165

7,088 1,468 343 1,124 5,620

6,964 1,531 437 1,094 5,433

6,257 1,831 568 1,263 4,426

5,544 1,701 481 1,220 3,844

449 -210 660 50 -1,187 1,237 609

6,114 410 5,704 4,224 1,636 2,589 1,480

35,269 69 35,200 24,517 5,080 19,437 10,683

46,895 12,293 34,602 39,810 -6,889 46,699 -5,208

10,017 12,273 -2,256 -2,842 -3,660 818 586

-22,674 2,538 -25,212 -29,299 -842 -28,457 4,087

1,820 -2,032 3,853 5,010 1,610 3,399 -1,157

-10,659 -4,722 -5,938 2,958 8,772 -5,815 -8,895

2,770 ..

8,505 -16

70,631 -5,010

74,992 -197

-2,966 665

-20,659 -206

11,311 -203

8,586 1,137

.. 23.4

41.7 45.6

45.5 43.5

57.0 31.0

62.3 23.6

57.2 29.6

50.5 36.9

41.2 49.2

44,085 .. .. .. .. .. ..

104,367 74,311 1,913 82,180 5,900 -8,238 18,552

126,596 119,237 2,309 128,517 16,524 -9,962 23,970

144,346 139,525 2,509 149,801 19,017 -11,119 33,788

121,031 113,546 2,137 114,299 18,187 -193 44,074

122,372 125,137 2,162 124,218 19,631 1,402 44,849

131,829 135,733 2,441 135,159 16,038 1,211 48,681

117,509 126,013 2,302 124,410 15,137 2,087 44,506

.. 69.8 .. 13.5 4.3 .. ..

116.0 82.6 32.9 21.6 2.5 21.5 2.7

146.4 137.9 27.9 19.1 1.8 13.7 2.2

159.8 154.4 52.5 12.6 3.8 15.2 2.7

211.3 198.2 96.0 12.0 6.7 18.4 4.6

172.5 176.4 81.1 15.2 8.1 20.8 4.3

155.3 159.9 86.5 15.0 7.1 23.1 4.3

161.7 173.4 84.6 11.2 7.6 21.8 4.3

Summary external debt data External debt stocks Long-term external debt Short-term external debt interest arrears on long-term Use of IMF credit

Long-term external debt Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

Debt resource inflows Net debt inflows Official creditors (incl. IMF) Private creditors Long-term Public and publicly guaranteed Private nonguaranteed Short-term

Non-debt resource inflows Foreign direct investment Portfolio equity

Currency composition (%) Euro U.S.dollars

Major economic aggregates Gross national income (GNI) Exports of goods, services & prim. income Personal transfers & comp. of employees Imports of goods, services & prim. income Primary income on FDI Current account balance International reserves

Ratios External debt stocks to exports (%) External debt stocks to GNI (%) Debt service to exports (%) Short-term to external debt stocks (%) Multilateral to external debt stocks (%) Reserves to external debt stocks (%) Reserves to imports (months)

96


INDIA (US$ million, unless otherwise indicated) 2000

2005

2007

2008

2009

2010

2011

2012

101,130 96,781 3,462 0 888

121,195 111,406 8,816 0 974

204,058 166,888 36,093 0 1,076

227,114 182,243 43,821 0 1,049

256,312 203,473 46,603 0 6,237

291,651 229,076 56,448 0 6,127

336,845 252,685 78,052 0 6,108

379,099 279,636 93,349 0 6,114

Debt outstanding and disbursed Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

96,781 81,195 51,729 29,466 15,586

111,406 54,726 50,058 4,668 56,680

166,888 69,908 57,366 12,542 96,980

182,243 76,318 62,626 13,692 105,925

203,473 85,293 65,971 19,322 118,180

229,076 101,786 73,956 27,830 127,290

252,685 110,371 78,354 32,017 142,314

279,636 119,432 78,026 41,406 160,204

Disbursements Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

10,556 10,256 3,270 6,986 300

19,380 6,630 3,824 2,805 12,751

64,526 16,040 4,693 11,347 48,486

38,712 18,824 5,917 12,907 19,888

26,646 10,396 5,971 4,425 16,250

44,629 25,560 9,780 15,781 19,069

44,073 14,865 7,924 6,941 29,207

50,065 17,269 5,170 12,099 32,796

Principal repayments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

6,702 6,454 3,494 2,959 249

19,384 12,469 2,701 9,769 6,914

32,097 8,842 2,392 6,450 23,255

23,685 13,447 3,001 10,446 10,238

10,990 5,336 2,923 2,413 5,654

19,018 5,164 3,159 2,005 13,854

22,228 6,823 3,908 2,915 15,405

21,089 6,183 3,696 2,488 14,906

Interest payments Public and publicly guaranteed Official creditors Private creditors Private nonguaranteed

4,007 3,378 1,436 1,941 630

4,196 3,022 1,062 1,960 1,174

5,488 1,450 1,173 276 4,038

5,718 1,524 1,164 360 4,194

4,942 1,322 1,012 310 3,620

4,675 1,063 798 265 3,612

6,258 1,262 926 335 4,996

8,136 1,758 1,265 493 6,378

3,358 -249 3,607 4,078 4,026 51 -471

1,949 1,124 825 -1,127 -6,964 5,837 1,952

43,425 2,301 41,124 30,128 4,897 25,231 10,996

22,755 2,916 19,839 12,111 2,461 9,650 7,728

18,437 3,048 15,389 12,607 2,011 10,596 2,782

35,456 6,621 28,836 18,991 13,776 5,215 9,845

43,449 4,016 39,433 17,829 4,026 13,803 21,604

44,272 1,474 42,798 27,501 9,611 17,890 15,297

3,584 2,481

7,269 12,151

25,228 32,863

43,406 -15,030

35,581 24,689

27,397 30,442

36,499 -4,048

23,996 22,809

.. 66.3

7.4 65.6

6.5 67.3

5.5 64.3

5.0 67.6

4.0 70.0

3.6 71.1

3.5 75.2

469,716 62,453 12,883 80,489 .. -4,601 37,902

828,318 160,228 22,125 194,154 5,244 -10,284 131,924

1,233,605 252,732 37,217 297,951 10,910 -8,076 266,988

1,216,938 320,713 49,977 400,437 11,989 -30,972 247,419

1,357,363 274,580 49,204 349,529 12,279 -26,186 265,182

1,692,962 357,996 53,480 464,622 21,763 -54,516 275,277

1,856,813 456,523 62,499 579,253 23,760 -62,518 271,285

1,824,735 453,744 68,821 610,650 16,389 -91,471 270,587