T H E W O R L D B A N K Global 53097 Development Finance External Debt of Developing Countries Global Development Finance External Debt of Developing Countries Global Development Finance External Debt of Developing Countries 2010 THE WORLD BANK © 2010 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org E-mail: feedback@worldbank.org All rights reserved 1 2 3 4 13 12 11 10 This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. 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ISBN: 978-0-8213-8229-5 eISBN: 978-0-8213-8230-1 DOI: 10.1596/978-0-8213-8229-5 Table of Contents Preface vii Chad 90 Chile 92 Acknowledgments ix China 94 Overview 1 Colombia 96 Financial Flows to Developing Countries: Comoros 98 Trend in 2008 1 Congo, Democratic Republic of 100 Trends in External Debt in 2008 3 Congo, Republic of 102 Support from the World Bank Group 5 Costa Rica 104 Debt Restructurings with Official Côte d'Ivoire 106 Creditors 8 Djibouti 108 Dominica 110 Summary tables 11 Dominican Republic 112 Regional and income group aggregate tables 23 Ecuador 114 Egypt, Arab Republic of 116 Country tables 43 El Salvador 118 Afghanistan 44 Eritrea 120 Albania 46 Ethiopia 122 Algeria 48 Fiji 124 Angola 50 Gabon 126 Argentina 52 Gambia, The 128 Armenia 54 Georgia 130 Azerbaijan 56 Ghana 132 Bangladesh 58 Grenada 134 Belarus 60 Guatemala 136 Belize 62 Guinea 138 Benin 64 Guinea-Bissau 140 Bhutan 66 Guyana 142 Bolivia, Plurinational State of 68 Haiti 144 Bosnia and Herzegovina 70 Honduras 146 Botswana 72 India 148 Brazil 74 Indonesia 150 Bulgaria 76 Iran, Islamic Republic of 152 Burkina Faso 78 Jamaica 154 Burundi 80 Jordan 156 Cambodia 82 Kazakhstan 158 Cameroon 84 Kenya 160 Cape Verde 86 Kyrgyz Republic 162 Central African Republic 88 Lao People's Democratic Republic 164 v G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Latvia 166 Solomon Islands 246 Lebanon 168 Somalia 248 Lesotho 170 South Africa 250 Liberia 172 Sri Lanka 252 Lithuania 174 St. Kitts and Nevis 254 Macedonia, FYR 176 St. Lucia 256 Madagascar 178 St. Vincent and the Grenadines 258 Malawi 180 Sudan 260 Malaysia 182 Swaziland 262 Maldives 184 Tajikistan 264 Mali 186 Tanzania 266 Mauritania 188 Thailand 268 Mauritius 190 Togo 270 Mexico 192 Tonga 272 Moldova 194 Tunisia 274 Mongolia 196 Turkey 276 Montenegro 198 Turkmenistan 278 Morocco 200 Uganda 280 Mozambique 202 Ukraine 282 Myanmar 204 Uruguay 284 Nepal 206 Uzbekistan 286 Nicaragua 208 Vanuatu 288 Niger 210 Venezuela, República Bolivariana de 290 Nigeria 212 Vietnam 292 Pakistan 214 Yemen, Republic of 294 Panama 216 Zambia 296 Papua New Guinea 218 Zimbabwe 298 Paraguay 220 Peru 222 About the data 301 Philippines 224 Data sources 301 Poland 226 Methodology 302 Romania 228 External debt and its components 304 Russian Federation 230 Rwanda 232 Country groups 309 Samoa 234 São Tomé and Principe 236 Glossary 311 Senegal 238 Serbia 240 Users guide 317 Seychelles 242 Sierra Leone 244 vi . Preface T he World Bank's Debtor Reporting System Steps are continuously being taken to ensure (DRS), from which the aggregates and that the data captured by the DRS mirrors these country tables presented in this report are developments and responds to the needs of debt drawn, was established in 1951. The debt crisis managers and analysts. In this context reporting of the 1980s brought increased attention to debt requirements are periodically amended to reflect statistics and to the World Debt Tables, the prede- changes in borrowing patterns. Many developing cessor to Global Development Finance. Now the countries increasingly rely on financing raised in global financial crisis has once again heightened domestic markets, and so we are exploring ways to awareness in developing countries of the impor- expand the coverage of public sector borrowing in tance of managing their external obligations. domestic markets. At the same time we are mind- Central to this process is the measurement and ful that expanded coverage and efforts to enhance monitoring of external debt stocks and flows in a data accuracy and timeliness must be balanced coordinated and comprehensive way. The initial against the reporting burden imposed on develop- objective of the DRS was to support the World ing countries. Bringing modern technology to bear Bank's assessment of the creditworthiness of its reduces reporting costs. In partnership with the borrowers. But it has grown as a tool to inform major providers of debt data management systems developing countries and the international com- to developing countries, the Commonwealth Secre- munity of trends in external financing and as a tariat and the United Nations Conference on Trade standard for the concepts and definitions on which and Development (UNCTAD), we have established countries can base their own debt management standard code and system links that enable coun- systems. tries to provide their DRS reports electronically, in Over the years the external financing options a seamless and automated data exchange process. available to developing countries have evolved and We recognize that robust debt data and good expanded, and so too has the demand for timely debt management go hand in hand, and the World and relevant data to measure the activity of public Bank, together with its partners, is committed to and private sector borrowers and creditors. Recur- improving the capacity of developing countries rent debt crises caused by adverse global economic to manage their debt. We are also committed to conditions or poor economic management have maintaining the DRS as a rich source of informa- demanded solutions, including debt restructur- tion and welcome your comments and suggestions ing and, in the case of the poorest, most highly to ensure that it meets your needs. indebted countries, outright debt forgiveness, formulated on the basis of detailed and robust in- Shaida Badiee formation on external obligations. Director, Development Data Group vii Acknowledgments T his volume and its companion volume, Data Group (DECDG). Many others inside the The Little Data Book on External Debt, World Bank provided helpful input, especially were prepared by the Financial Data Team Sudarshan Gooptu and the staff of the Economic of the Development Data Group, led by Ibrahim Policy and Debt Department (PRMED), Mansoor Levent under the supervision of Eric Swanson Dailami and the staff of the Development Pros- and comprising Olga Akcadag, Nanasamudd pects Group (DECPG), and country economists Chhim, Shelley Fu, Akane Hanai, John Mavura, who reviewed the data. The work was carried out Gloria Moreno, Yasue Sakuramoto, Makiko Sano, under the management of Shaida Badiee. and Alagiriswamy Venkatesan, working closely The production of this volume was man- with other teams in the Development Econom- aged by Richard Fix, with the assistance of Azita ics Vice Presidency's Development Data Group. Amjadi, Alison Kwong and Vera Wen. The CD- The team was assisted by Awatif H. Abuzeid and ROM and online database were prepared by Rosario Alipio. The system support team was led Buyant Erdene Khaltarkhuu and William Prince by Abdolreza Farivari; Soong Sup Lee provided with technical support from Shelley Fu, Vilas the macroeconomic data and K. M. Vijayalakshmi K. Mandlekar, Abarna Gayathri Manickudi provided worker remittances and compensation Panchapakesan, Sujay Ramasamy, and Malarvizhi of employee data. The overview of current devel- Veerappan. The cover was designed by Jomo opments was prepared by Malvina Pollock in Tariku. Staff from External Affairs coordinated consultation with the staff of the Development the publication and dissemination of the book. ix . Overview Financial Flows to Developing portfolio equity, and bonds. Both short term debt Countries: Trend in 2008 and portfolio equity flows turned negative, record- T he global financing crisis had a pronounced impact on net capital flows to developing countries in 2008, particularly following the ing outflows of $12.7 billion and $57.1 billion respectively. Bond flows remained positive, but the inflow in 2008 was 80 percent below the level collapse of Lehman Brothers in September. Net of the prior year. Foreign direct investment (FDI) inflows fell to $780 billion, reversing an upward flows, typically more resilient in times of crisis, trend that began in 2003 and peaked at $1,222 moderated but continued to rise in 2008. Offi- billion in 2007 (table 1). Private flows (debt and cial creditors responded by providing emergency equity) declined by almost 40 percent, driven financing to developing countries most severely by the sharp fall in the flow of short-term debt, impacted by the global financial crisis. Table 1. Net Capital Inflows to Developing Countries ($ billions) 2001 2002 2003 2004 2005 2006 2007 2008 Current account balance 7.2 63.6 103.1 138.4 246.5 331.0 352.5 256.4 Financed by: Net private and official inflows 224.2 161.0 262.3 361.4 501.4 659.0 1,221.6 780.3 Net equity inflows 170.9 160.3 179.8 254.3 349.9 469.0 663.8 536.5 Net FDI inflows 164.6 151.3 154.3 215.7 281.1 363.2 528.4 593.6 Net portfolio equity inflows 6.3 9.0 25.5 38.6 68.8 105.8 135.4 57.1 Net debt flows 53.3 0.7 82.5 107.1 151.5 190.0 557.8 243.8 Official creditors 27.3 6.2 12.4 26.2 71.9 72.9 1.9 28.1 World Bank 7.8 0.1 1.5 2.7 3.3 0.2 5.3 7.6 IMF 19.5 14.2 2.4 14.7 40.2 26.7 5.1 10.8 Other official 0.0 8.1 13.3 14.2 35.0 46.0 2.1 9.7 Private creditors 26.0 5.4 94.9 133.1 223.3 262.9 559.8 215.8 Net medium- and long-term debt flows 3.9 3.0 29.7 71.6 137.7 168.1 315.3 228.5 Bonds 12.2 10.6 22.6 35.8 56.8 31.6 87.2 15.0 Banks and other private 8.3 7.6 7.1 35.8 80.9 136.5 228.1 213.5 Net short-term debt flows 22.1 8.4 65.2 61.5 85.6 94.8 244.5 12.7 Change in reserves ( increase) 80.9 168.7 292.3 398.5 393.6 643.5 1,100.5 277.1 Memorandum items Official grants excluding tech cooperation 29.1 33.9 45.8 53.6 56.8 106.9 76.0 86.2 Workers remittances 93.9 114.2 141.8 161.8 193.0 229.0 281.8 326.7 Sources: World Bank Debtor Reporting System (DRS), International Monetary Fund (IMF), Bank for International Settlements (BIS), and Organisation for Economic Co-operation and Development (OECD) Development Assistance Committee (DAC). G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 2. Net Capital Inflows to Developing Regions, Figure 1 Net equity flows to developing 2005­08 countries, 2000­08 ($ billions) $ billions 2005 2006 2007 2008 700 Net FDI inflows Net private and official inflows 500 659 1,222 781 600 Net portfolio equity inflows by region: East Asia and Pacific 184 194 292 179 500 Europe and Central Asia 155 280 486 313 400 Latin America and the Caribbean 84 69 231 173 Middle East and North Africa 16 12 26 19 300 South Asia 28 61 134 63 Sub-Saharan Africa 33 42 53 34 200 Source: World Bank DRS. 100 0 The downturn in capital flows in 2008 af- 100 2001 2002 2003 2004 2005 2006 2007 2008 fected all developing regions (table 2). Emerging market economies in Europe and Central Asia and Sources: IMF; World Bank staff estimates. South Asia combined accounted for 55 percent of the overall decline in capital flows to developing decade, with the share of the top ten recipient countries in 2008, while the net inflow of capital countries remaining at 70 percent of the total. to these two regions fell to $313 billion and $63 Low-income countries received $26.4 billion in billion, respectively. Reduced short term debt FDI in 2008, less than 5 percent of all FDI flows flows accounted for a major share of the decline to developing countries, but a 26 percent increase in East Asia and Pacific, Middle East and North over the previous year and well over double the Africa, and Europe and Central Asia. In Sub- $11.6 billion recorded in 2006. Saharan Africa two-thirds of the decline was in Portfolio equity inflows turned sharply nega- portfolio equity, with the rest in bond financing. tive in 2008 (figure 1) as investors retreated from Combined equity inflows (direct investment stock holdings in emerging markets: an outflow of and portfolio investment) totaled $536 billion in $57 billion was recorded compared to a net inflow 2008, down 19 percent from the $664 billion re- of $135 billion in 2007. But the impact was lim- corded in 2007 but still almost 14 percent higher ited to a small number of countries: typically ten than the inflow recorded in 2006. Net portfolio countries account for over 90 percent of all portfo- equity flows plunged to a negative $57 billion com- lio equity flows to developing countries (table 3). pared to an average of $121 billion in 2006­2007, but this was more than offset by increased FDI flows (see figure 1). Equity price developments were Table 3. Net Inflow of Portfolio Equity Flows-- consistent with portfolio equity outflows: the MSCI Top Ten Recipients ($ billions) global emerging market equity index was down 55 2006 2007 2008 percent in dollar terms in 2008. China commanded one-quarter of all FDI Brazil 7.7 26.2 7.6 inflows to developing countries in 2008 ($147.8 China 42.9 18.5 8.7 billion). FDI inflows to India rose by 64 percent to India 9.5 35.0 15.0 $41 billion, reflecting economic reforms in recent Indonesia 1.9 3.6 0.3 years and progress in opening up additional sec- Philippines 2.5 3.2 1.3 tors for foreign investment. The high commodity Russian Federation 6.5 18.7 15.0 prices that persisted for much of 2008 continued South Africa 15.0 8.7 4.7 Thailand 5.2 4.3 4.6 to support investments in resource-rich developing Turkey 1.9 5.1 0.7 countries such as Angola, Brazil, Chile, Kazakh- Vietnam 1.3 6.2 0.6 stan, and the Russian Federation. The concentra- tion of FDI flows has changed little over the past Source: IMF. 2 O V E R V I E W Table 4. Net Official Financing to Developing Countries, 2001­08 ($ billions) 2001 2002 2003 2004 2005 2006 2007 2008 Total 55.2 38.5 31.0 27.4 15.1 34.0 74.0 114.3 Official grants 27.9 32.4 43.5 53.6 56.8 106.9 76.0 86.2 of which IDA 0.3 0.4 1.0 1.0 1.2 1.9 2.1 Loans 27.3 6.1 12.5 26.2 71.9 72.9 2.0 28.1 Bilateral 7.6 9.4 15.2 14.1 38.6 48.4 12.7 4.3 Multilateral 35.0 15.5 2.8 12.0 33.2 24.5 10.7 32.4 of which IBRD 2.5 5.8 5.7 1.6 0.8 3.8 0.8 3.9 IDA 5.0 5.5 5.0 6.2 5.5 4.7 5.4 4.5 IMF 19.5 14.2 2.4 14.7 40.2 26.7 5.1 10.8 Source: World Bank DRS, OECD DAC. China was the only developing country to receive donors' commitment to a substantial increase in a sizeable net inflow of portfolio equity in 2008, official development assistance (ODA) to help but at $8.7 billion it was well below half the developing countries, particularly those of Sub- $18.5 billion recorded in 2007. India and Russia Saharan Africa, achieve internationally agreed were the hardest hit: both countries experienced development objectives, including the Millennium outflows of $15 billion in 2008 compared to net Development Goals (MDGs). inflows of $35 billion (India) and $19 billion (Russia) in 2007. Malaysia also recorded a large outflow, $10.7 billion, as investors retreated in light of both economic and political uncertainties Trends in External Debt in 2008 following the outcome of the general election. Official creditors responded to the turmoil in global financial markets by increasing their sup- N otwithstanding strong inflows in the first part of the year, debt flows from private creditors to developing countries fell 61 percent port to both low- and middle-income countries. in 2008 to $216 billion. This decline was only The net inflow of medium and long term financ- partially offset by the increase in net financing ing from official creditors, defined as loans plus from official creditors that stepped in with emer- grants, rose by 54 percent in 2008 to $114 billion. gency financing to the central governments in the Almost seventy five percent of these funds took the developing countries most impacted by the global form of grants directed at low-income countries financial crisis (figure 2). There was considerable with limited or no access to market-based financ- change in the structure of private financial debt. ing (table 4). Multilateral institutions, especially the IMF and the World Bank, stepped up their Figure 2 Net debt flows by creditor type activities in order to provide emergency financ- $ billions ing to the countries most impacted by the global 600 financial crisis, and IMF standby programs were put in place for a number of countries including 500 Latvia, Pakistan, Serbia, and Ukraine. These were 400 typically accompanied by additional commitments Private creditors 300 from bilateral and multilateral lenders. The U.S. Federal Reserve swap facilities with the central 200 banks of Brazil and Mexico provided short-term 100 financing. The net inflow of funds (including 0 grants) from the IMF and the World Bank (IBRD Official creditors 100 and IDA) rose to $20.5 billion in 2008, a tenfold increase over the comparable figure for 2007. 200 2001 2002 2003 2004 2005 2006 2007 2008 Official grants (excluding technical coopera- tion grants) rose by 13 percent in 2008, reflecting Source: World Bank DRS. 3 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Figure 3 Net private debt flows by creditor type All regions have experienced improvements in $ billions their external debt ratios. External debt indicators 300 measured in terms of gross national income and export earnings have improved markedly since 250 the start of the decade and this trend continued in 200 2008. Since 2000 the rate of growth in developing countries has outpaced the accumulation of new 150 Banks and other external obligations, and there has been a move private creditors 100 from debt to equity. For all developing countries Short-term flows the ratio of total external debt outstanding to 50 exports has fallen from 122.2 percent in 2000 Bonds 0 to 58.7 percent in 2008, and the debt service to exports ratio has halved to 9.5 percent. Measured 50 2001 2002 2003 2004 2005 2006 2007 2008 against developing countries' GNI the stock of ex- ternal obligations is now 22.1 percent, compared Source: World Bank DRS. to 37.2 percent in 2000 (figure 4). Note: Banks include commercial and multilateral banks. The countries of East Asia and Pacific and the Middle East and North Africa have the low- The net flow of short-term financing turned nega- est external debt measured against gross national tive ($ 13 billion) for the first time since 2000, income and export earnings. Those of Europe following large net repayments and a reduction in and Central Asia are the most indebted: the credit lines in the last quarter of the year. The net ratios of external debt outstanding to GNI inflow on bonds issued by public and private sec- (37.3 percent) and to export earnings (93.3 per- tor entities plummeted to $15 billion following a cent) in this region were three times higher than spectacular run-up in 2007 to $87 billion, almost those of the East Asian countries. This region also triple the net inflow of 2006. Lending by banks has the highest ratio of debt service to export earn- and other private creditors had risen sharply and con- ings: 18.6 percent in 2008, twice the ratio of all tinuously since 2001 but fell in 2008 (figure 3). How- developing countries. The global and financial cri- ever, the decline of 17 percent was limited when sis that erupted in 2008 had no immediate impact compared to the sharp fall in bonds and short- on debt indicators: on the contrary most regions term flows. These flows remained resilient because recorded a marked improvement in the measure of several underlying factors: (a) the continuation of external debt to GNI and to export earnings. of new lending to creditworthy public and private The only exceptions were a slight rise in the debt sector borrowers; (b) new disbursements on proj- service to export ratio for the countries of Europe ect loans committed in prior years; (c) an increase in officially guaranteed bank lending in line with Figure 4 Key debt indicators, trend 2000­08 the commitment by members of the Berne Union Percent to provide support to countries during the global 140 credit crisis; and (d) increased lending by inter- national financial institutions, led by the Interna- 120 tional Finance Corporation (IFC).1 100 Concomitant with the fall of external financ- External debt stocks to exports ing, the pace at which external debt accumulated 80 slowed. The total stock of external debt outstand- 60 ing of developing countries rose only 7.7 percent in 2008--one-third of the 22.8 percent rise in 40 External debt stocks to GNI 2007. Of the total outstanding at end-2008, 20 83 percent was accounted for by three regions: Debt service to exports Europe and Central Asia (38 percent); Latin 0 2000 2005 2007 2008 America and the Caribbean (24 percent); and East Asia and Pacific (21 percent). Sources: World Bank DRS and IMF. 4 O V E R V I E W Table 5. Debt Indicators for Regional Country Groups (percent) Debt stock/GNI Debt stock/exports Debt service/exports Region 2000 2007 2008 2000 2007 2008 2000 2007 2008 East Asia and Pacific 29.5 16.7 13.7 77.3 35.1 30.9 11.4 4.4 3.9 Europe and Central Asia 49.9 40.9 37.3 135.5 106.3 93.3 18.2 18.2 18.6 Latin America and the Caribbean 37.4 23.8 21.8 159.1 86.4 80.8 38.0 15.7 14.0 Middle East and North Africa 33.9 19.6 15.1 95.0 43.3 33.3 13.3 5.9 5.3 South Asia 26.7 20.0 21.3 152.3 81.5 74.7 14.6 12.4 8.4 Sub-Saharan Africa 66.0 23.6 21.2 180.6 54.9 48.0 11.5 5.4 3.3 Sources: World Bank DRS and IMF. and Central Asia and a small increase in the ratio Figure 5 World Bank group: exposure at of external debt outstanding to GNI for the South end-2008, by agency Asia region. The countries of Sub-Saharan Africa % of total have seen the greatest improvement in debt indica- 2% tors since 2000, in part because of booming com- IBRD IFC modity prices and as a consequence of large-scale IDA MIGA 10% debt forgiveness under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI). The debt to export 44% ratio declined to 48 percent at the end of 2008, compared to 180.6 percent in 2000, and the debt 44% service to export ratio fell to 3.3 percent, less than one third its 2000 level (table 5). Support from the World Bank Group Source: World Bank Group. T he World Bank Group is a major source of financing to developing countries. Its member institutions--IBRD, IDA, IFC, and MIGA (Multi- and the Caribbean receives the highest share of IBRD financing followed by Europe and Central lateral Investment Guarantee Agency)--committed Asia. IFC and MIGA are active in all regions but over $40 billion in 2008 to help countries strug- with a concentration in Latin America and Europe gling with the global economic crisis, a record for and Central Asia. These two regions combined ac- the institution. The World Bank Group's exposure counted for 53 percent of the IFC's and 67 percent to developing countries at end-2008 (defined as of MIGA's portfolio respectively (figure 6). disbursed and undisbursed commitments) totaled Financing by the World Bank group takes $324 billion: IBRD and IDA each had exposure several forms: loans and guarantees from IBRD, of approximately $143 billion; IFC exposure was and loans, grants, and guarantees from IDA to $32 billion; and that of MIGA was $7 billion the public sector of the borrowing country; loans (figure 5). The countries of South Asia together ac- and equity financing from IFC to the private sec- counted for almost 24 percent of the total owed to tor; and investment guarantees from MIGA. This the World Bank Group. Three other regions, East financing is captured in the data presented in Asia and Pacific, Europe and Central Asia, and Global Development Finance as follows. Loans Latin America and the Caribbean, each accounted from IBRD and IDA constitute part of the bor- for between 18 and 19 percent. IDA is reserved rowing country's public and publicly guaranteed for the world's poorest countries. Its operations debt and are also separately identified by source. are concentrated in South Asia and Sub-Saharan Loan financing from IFC is recorded as part of Africa. Together these regions account for 72 percent private nonguaranteed debt. Grants provided by of the outstanding IDA portfolio. Latin America IDA are recorded as part of aggregate resources 5 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Figure 6 World Bank Group: exposure at Figure 7 IBRD loan commitments, 2008 end-2008, regional distribution $ billions $ billions 10,000 2008 70 9,000 IBRD IFC 2007 IDA MIGA 8,000 60 7,000 50 6,000 40 5,000 4,000 30 3,000 20 2,000 1,000 10 0 be d l A nd ci ia s 0 er ib an Pa s tra e a fic an a d st A th si ar a O ric d ia ci ia be d l A nd ric n C ic en p an Ea Af an ib an Af ara C uro As Pa s e er tra e a a a fic an a d st A th Am si th t ar a h E h or as C ic en p Sa ut an Ea C ro e er N E tin So b- Eu th Am e La Su dl id tin M La Source: World Bank. Source: World Bank Group. flows within official grants, with IDA grants sepa- the zero net flow recorded in 2007. The main fac- rately identified for each recipient country. Equity tors behind this development were the sharp rise in financing from IFC and investments guaranteed gross disbursements to countries in Latin America by MIGA are recorded as part of foreign direct and the Caribbean and, to a lesser degree, East investment. IBRD and IDA guarantees do not Asia and Pacific and Europe and Central Asia, represent financing and will only be recorded as a and the decline in the pre-payment of outstanding flow of funds if the guarantee is invoked. IBRD loans by borrowers in light of the global economic situation. Gross disbursements in 2008 Trends in IBRD Financing were also highly concentrated, with 78 percent IBRD lending commitments rose to $21.5 billion going to the top eight borrowers (figure 8). in 2008, an 80 percent increase over the compara- The total debt disbursed and outstanding ble figure for 2007, driven by a surge in new loans to IBRD stood at $95.9 billion at end-2008 for to borrowers in Europe and Central Asia and countries reporting to the World Bank DRS2. Latin America and the Caribbean: new loans to Of this amount 62 percent was owed by eight these regions rose by 150 percent (to $5.6 billion) borrowers: Argentina, Brazil, China, Colombia, and 116 percent (to $9.4 billion), respectively, India, Indonesia, Mexico, and Turkey. over their 2007 level. In Latin America the major Table 6. Countries with the Highest IBRD borrowers were Brazil, Mexico, and Colombia, Commitments while in Europe the largest commitments went to Turkey, Poland, and Ukraine. New commitments Country $ billion % of total to countries in the Middle East and North Africa Brazil 2.96 13.8 also recorded a very steep rise in 2008, up by 332 Turkey 2.49 11.6 percent to $1.4 billion. Of this, the Arab Republic Mexico 2.30 10.7 of Egypt accounted for $1.1 billion. Eight IBRD Colombia 2.07 9.6 borrowers accounted for 61 percent of all new Indonesia 1.84 8.6 IBRD loans in 2008 (figure 7; table 6). China 1.71 8.0 Poland 1.25 5.8 The net flow of financing from IBRD for 2008 Egypt, Arab Rep. 1.08 5.0 (gross disbursements minus principal payments) was $3.1 billion, an important turnaround from Source: World Bank. 6 O V E R V I E W Figure 8 IBRD loan disbursements, 2008 Figure 9 IDA loan and grant commitments, 2008 $ billions $ billions 6,000 7,000 2008 2008 2007 2007 6,000 5,000 5,000 4,000 4,000 3,000 3,000 2,000 2,000 1,000 1,000 0 0 ric n l A nd be d ci ia er ia ci ia er Af ara ib an Pa s As Pa s th th tra e a a a fic an fic d tA d st A O O si ar a h h en p an Eas C ic Sa ut an Ea C uro e er So b- th Am E Su tin La Source: World Bank. Source: World Bank. Figure 10 IDA loan and grant disbursements, 2008 Table 7. Countries with the Highest IBRD Disbursements $ billions Country $ billion % of total 5,000 2008 4,500 2007 Mexico 1.94 14.3 Brazil 1.73 12.7 4,000 China 1.60 11.8 3,500 Indonesia 1.40 10.3 3,000 Turkey 1.20 8.8 India 1.12 8.3 2,500 Ukraine 0.89 6.6 2,000 Colombia 0.85 6.2 1,500 Source: World Bank. 1,000 500 0 Trends in IDA Financing ric n ia ci ia er Commitments of loans and grants from IDA to Af ara As Pa s th a fic d tA O h h an Eas Sa ut the world's poorest countries fell marginally in So b- Su 2008 to $11.8 billion from $11.9 billion in 2007 due to slight slippages in project preparation, Source: World Bank. but gross disbursements (loans and grants) rose by 5 percent to $8.9 billion. Countries in Sub- Saharan Africa received half of all IDA new ment per capita as those in the lowest quintile. In commitments and gross disbursements, followed 2008 the eight highest recipients accounted for 58 by South Asia with a 30 percent share (figure 9 percent of commitments and 51 percent of gross and figure 10). IDA resources are allocated to disbursements. Côte d'Ivoire and Togo regular- individual countries using a performance-based ized their relations with the World Bank in 2008 allocation system that also takes into account and cleared payments arrears to IBRD and IDA the size of the population and GNI per capita. totaling $0.7 billion in donor-supported opera- IDA recipient countries in the top performance tions. As a consequence debt service payments by quintile receive around three times the commit- these two countries rose, which explains in large 7 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 8. Countries with the Highest IDA end-2008, twenty-three countries, primarily in Commitments Sub-Saharan Africa, had reached the HIPC com- Country 2008 % of total pletion point and received a total of $44 billion in Bangladesh 1.83 15.6 HIPC and MDRI relief. Among African countries, Vietnam 1.10 9.3 those with the largest share of the outstanding Ethiopia 0.91 7.7 IDA portfolio include Kenya ($3.1 billion) and Nigeria 0.89 7.5 Nigeria ($2.2 billion), neither of which is eligible India 0.60 5.5 for HIPC or MDRI relief. Tanzania 0.56 4.7 Uganda 0.52 4.0 Côte d'Ivoire 0.44 3.9 Source: World Bank. Debt Restructurings with Official Creditors Table 9. Countries with the Highest IDA Disbursements R estructuring of intergovernmental loans and officially guaranteed export credits takes place under the aegis of the Paris Club4. These Country 2008 % of total agreements are concluded between the debtor India 0.96 10.7 country government and representatives of credi- Bangladesh 0.84 9.4 tor countries. Debt restructuring treatments are Vietnam 0.60 6.7 formulated on a case-by-case basis within the Ethiopia 0.55 6.1 Indonesia 0.49 5.5 context of the guiding principles of the Paris Club Tanzania 0.42 4.7 and with the consensus of all participating creditor Nigeria 0.35 4.0 countries. Most treatments fall under the follow- Côte d'Ivoire 0.35 3.9 ing, predefined categories, listed by increasing de- gree of concessionality: "Classic terms" represent Source: World Bank. the standard treatment; "Houston terms" are typically reserved for highly indebted lower- measure the fall in the net flow of financing of middle-income countries; "Naples terms" are IDA loans in 2008: $4.5 billion compared to $5.4 aimed at highly indebted poor countries; and billion in 2007. "Cologne terms" are accorded to countries eligible Total debt outstanding owed to IDA at the for the HIPC Initiative. To make the terms of a end of 2008 by countries reporting to the World Paris Club agreement effective, the debtor coun- Bank DRS rose slightly to $111.3 billion from try must sign a bilateral implementing agreement $107.7 billion at the end of 2007)3 as a conse- with each creditor. Each debtor country is also quence of the net inflow of $4.5 billion from IDA obligated to seek debt restructuring from external loans in 2008. This more than offset the effect bilateral and commercial creditors on terms com- of the depreciation of the SDR (the currency in parable to those granted by Paris Club creditors. which a large share of IDA loans are denominated) against the U.S. dollar and debt relief delivered Developments in 2008 under the HIPC Initiative and MDRI. Total debt The Paris Club restructured $3.1 billion in 2008 relief delivered by IDA in 2008 fell to $314 mil- for six low-income countries of which five are lion (of which $304 million was in principal out- countries eligible for the HIPC Initiative. This rep- standing), reflecting the relatively small number of resents 46 percent of the combined stock of debt countries remaining to receive interim relief from owed to Paris Club creditors by these countries IDA (countries between the HIPC decision and prior to implementation of the agreements con- completion points). cluded in 2008. Of the debt restructured, just over The outstanding IDA loan portfolio is half was cancelled and the remainder rescheduled heavily concentrated with five Asian coun- (table 10). The share of debt cancelled for each tries: Bangladesh, China, India, Pakistan, and debtor country was dictated by its progress under Vietnam, accounting for 54 percent of the the HIPC process and the composition of the debt total. This is a consequence of the fact that, at owed to Paris Club credits. 8 O V E R V I E W Table 10. Paris Club Agreements, January 1­December 31, 2008 Amount (millions of dollars) Consolidation period Signature Cut-off Concessionality (percent Country date (2008) date Total Rescheduled Cancelled of net present value) Start End Congo, Rep. of Dec-08 Jan-86 961 155 806 90 Jul-08 Jun-11 Djibouti Oct-08 Mar-98 76 76 0 n.a. Sep-08 Aug-11 Gambia, The Jan-08 Jul-86 15 3 12 90 stock Guinea Jan-08 Jan-86 298 116 182 90 Jan-08 Dec-10 Liberia Apr-08 Jan-83 1043 789 254 90 Mar-08 Dec-10 Togo Jun-08 Jan-83 740 393 347 67 Apr-08 Mar-11 Sources: World Bank and Paris Club. Note: n.a. not applicable. Agreements with HIPC Countries Liberia concluded an agreement with Paris Club Republic of Congo The agreement concluded with creditors in April 2008 to restructure $1,043 the Republic of Congo in December 2008 restruc- million in claims, of which all but $15 million tured claims totaling $961 million. It followed constituted arrears and late interest charges. This approval, earlier in the month, of a new three-year marked Liberia's first debt restructuring with the arrangement under the IMF Poverty Reduction Paris Club in twenty-four years (the previous re- and Growth Facility (PRGF) and was concluded structuring agreement with Paris Club creditors' on Cologne terms (90 percent net present value dates from December 1984) and the first agree- reduction) in view of the fact that the country ment to include an element of debt relief. Consis- reached the HIPC decision point in March 2006. tent with the fact that Liberia reached the HIPC Of the $961 million covered by the agreement decision point in March 2008 and the treatment $155 million was rescheduled and $806 million accorded to other HIPC countries, the agree- canceled over the three year consolidation period. ment was essentially a back-to-back arrangement that provided a flow treatment on Naples terms The Gambia became the twenty-third country to (67 percent net present value reduction) topped reach the HIPC completion point in December up to Cologne (90 percent net present value re- 2007 and concluded a stock of debt treatment duction). It led to the immediate cancellation of with Paris Club creditors on January 24, 2008. $254 million. On an exceptional basis, because of The agreement marked an exit from the Paris Club Liberia's very limited payment capacity, creditors rescheduling process and canceled claims valued at expect no payments from Liberia until the end of $12 million in nominal terms. the consolidation period (December 31, 2010), by which time Liberia is expected to have reached the Guinea concluded an agreement with Paris Club HIPC completion point. creditors on January 23, 2008, following approval in December 2007 of a new three-year arrange- Togo gained approval of a new three-year ar- ment with the IMF under the PRGF. Guinea rangement under the IMF PRGF in April 2008, reached the HIPC decision point in December paving the way for debt restructuring with Paris 2000 and was therefore eligible for a restructur- Club creditors. The agreement, concluded in June ing of debt service payments (a so-called flow 2008, restructured claims totaling $740 million of treatment) on Cologne terms (90 percent net which $347 million was cancelled and $393 mil- present value reduction). The agreement restruc- lion restructured on Naples terms (67 percent net tured $298 million of which $116 million was present value reduction). On an exceptional basis, rescheduled and $182 million canceled. In view creditors agreed to require no payments from the of Guinea's extremely limited payment capacity, Togolese authorities during the consolidation Paris Club creditors also agreed, on an exceptional period (April 2008 to March 2011). Creditors basis, to defer repayment of arrears accumulated also indicated their willingness to top up the level by Guinea until after 2010. of debt relief to Cologne terms (90 percent net 9 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 present value reduction) as soon as Togo reached that the conditions for entry into force of the third the HIPC decision point. phase had been met and granted the remaining 20 percent net present value reduction. Agreements with non-HIPC Countries In aggregate, Paris Club creditors have can- Djibouti concluded a debt restructuring agreement celled $29.7 billion and reduced the total stock of with Paris Club creditors in October 2008 following debt due to them to $7.8 billion. approval of a PRGF arrangement with the IMF in September 2008. The agreement, concluded under Houston terms, restructured a total of $76 million in claims, of which the greater share ($58 million) Notes constituted arrears and late interest charges. Official 1. Debt owed by private sector borrowers is reported to the DRS in aggregate, and borrowing from international development assistance (ODA) loans rescheduled in financial institutions, including the IFC, is not separately the context of this agreement are to be repaid over identified. 20 years with a 10-year grace period and guaranteed 2. IBRD total debt disbursed and outstanding to all commercial claims were rescheduled over 15 years borrowers was $102.2 billion at end-2008. Borrowers with with an 8-year grace period. outstanding obligations to IBRD not included in the DRS are Barbados, Croatia, Estonia, Hungary, the Republic of Korea, Namibia, the Slovak Republic, Slovenia, and Other Developments in 2008 Trinidad and Tobago. Iraq The agreement concluded by Paris Club 3. IDA loans disbursed and outstanding to all borrow- creditors with Iraq in November 2004 was a com- ers was $111.8 billion at end-2008. Borrowers not included prehensive debt treatment that reduced claims on in the DRS with outstanding obligations to IDA are Equato- rial Guinea, Iraq, the Republic of Korea, the Syrian Arab Iraq by 80 percent in net present value terms. The Republic, and Taiwan, China. reduction was delivered in three phases and con- 4. The Paris Club is an informal group of nineteen ditioned on performance under an IMF support official creditors who seek to find coordinated and sus- program of reform. The first two phases entered tainable solutions to the payment difficulties encountered into force on November 21, 2004, and December by debtor nations. These creditors are Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, 23, 2005, and reduced the net present value of Ireland, Italy, Japan, the Netherlands, Norway, the Russian the stock of debt owed to Paris Club creditors by Federation, Spain, Sweden, Switzerland, the United King- 60 percent. In December 2008 creditors confirmed dom, and the United States. 10 Summary tables 11 S U M M A R Y T A B L E S Table 1. Key Indebtedness Indicators, 2006­2008 (US$ millions) Ratio of Ratio of Ratio of Total Present total external present value of Ratio of total present value external value of debt to exports of debt to exports of external debt of debt to Country debt 2008 debt 2008 GS (%) GS (%) to GNI (%) GNI (%) Afghanistan 2,200 414 112 21 22 4 Albania 3,188 2,366 68 51 29 21 Algeria 5,476 4,831 7 6 4 3 Angola 15,130 12,860 32 27 28 24 Argentina 128,285 126,813 173 171 49 48 Armenia 3,418 2,522 132 97 36 27 Azerbaijan 4,309 3,445 18 14 15 12 Bangladesh 23,644 14,620 108 67 32 20 Belarus 12,299 11,216 42 38 26 24 Belize 1,031 797 115 89 90 70 Benin 986 541 64 35 18 10 Bhutan 692 596 119 102 63 55 Bolivia 5,537 1,949 83 29 40 14 Bosnia and Herzegovina 8,316 6,888 98 81 53 44 Botswana 438 329 7 5 4 3 Brazil 255,614 245,974 126 121 19 19 Bulgaria 38,045 35,622 136 128 98 91 Burkina Faso 1,681 922 200 110 25 14 Burundi 1,445 813 1,252 705 142 80 Cambodia 4,215 3,418 71 57 52 42 Cameroon 2,794 830 49 15 14 4 Cape Verde 625 342 83 45 44 24 Central African Republic 949 698 363 267 56 41 Chad 1,749 1,142 49 32 30 19 Chile 64,277 58,392 82 74 45 41 China 378,245 353,151 27 25 11 10 Colombia 46,887 44,358 114 108 24 23 Comoros 281 195 228 158 60 42 Congo, Dem. Rep. 12,199 9,301 415 316 131 100 Congo, Rep. 5,485 4,929 78 70 83 74 Costa Rica 8,812 8,504 63 61 35 33 Côte d'Ivoire 12,561 14,738 123 144 65 76 Djibouti 685 457 186 124 77 51 Dominica 303 259 179 153 95 81 Dominican Republic 10,484 9,349 68 61 27 24 Ecuador 16,851 15,177 84 75 38 34 Egypt, Arab Rep. 32,616 27,076 59 49 24 20 El Salvador 10,110 9,352 106 98 51 47 Eritrea 962 544 1,233 697 67 38 Ethiopia 2,882 1,550 92 49 14 8 Fiji 379 348 22 20 12 11 Gabon 2,367 2,291 28 27 24 23 Gambia, The 453 175 163 63 76 29 Georgia 3,380 2,483 89 65 33 24 Ghana 4,970 2,900 79 46 34 20 Grenada 519 554 235 251 96 102 Guatemala 15,889 14,425 120 109 47 42 Guinea 3,092 1,951 237 149 77 49 Guinea-Bissau 1,157 788 727 496 314 214 Guyana 816 512 71 45 80 50 Haiti 1,935 1,025 96 51 32 17 Honduras 3,430 1,372 38 15 29 12 India 230,611 202,963 79 70 21 18 Indonesia 150,851 145,682 106 102 36 35 Iran, Islamic Rep. 13,937 12,028 14 12 5 4 (table continues on next page) 13 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 1. Key Indebtedness Indicators, 2006­2008 (continued) (US$ millions) Ratio of Ratio of Ratio of Total Present total external present value of Ratio of total present value external value of debt to exports of debt to exports of external debt of debt to Country debt 2008 debt 2008 GS (%) GS (%) to GNI (%) GNI (%) Jamaica 10,034 11,015 135 148 79 87 Jordan 6,577 5,759 47 41 37 32 Kazakhstan 107,595 97,907 181 164 117 106 Kenya 7,441 5,325 95 68 27 19 Kyrgyz Republic 2,464 1,505 86 53 68 42 Lao PDR 4,944 3,452 374 261 119 83 Latvia 42,108 39,269 323 301 157 147 Lebanon 24,395 23,653 92 89 98 95 Lesotho 682 370 50 27 34 18 Liberia 3,484 1,904 560 306 622 340 Lithuania 31,719 29,217 130 120 85 78 Macedonia, FYR 4,678 4,326 104 96 60 55 Madagascar 2,086 1,447 98 68 29 20 Malawi 963 344 111 39 26 9 Malaysia 66,182 61,632 32 30 38 35 Maldives 987 856 108 94 96 83 Mali 2,190 772 93 33 31 11 Mauritania 1,960 1,188 107 65 68 41 Mauritius 626 539 12 10 8 7 Mexico 203,984 197,895 63 62 20 20 Moldova 3,787 3,415 106 96 74 67 Mongolia 1,721 1,139 64 42 43 28 Montenegro 1,490 1,246 80 67 40 34 Morocco 20,825 17,755 60 51 28 24 Mozambique 3,432 1,124 109 36 46 15 Myanmar 7,210 5,018 121 84 50 35 Nepal 3,685 2,239 104 63 34 21 Nicaragua 3,558 1,826 103 53 62 32 Niger 966 571 107 63 22 13 Nigeria 11,221 9,863 14 12 7 6 Pakistan 49,337 35,957 165 120 33 24 Panama 10,722 10,044 66 62 58 54 Papua New Guinea 1,418 1,227 26 22 24 21 Paraguay 4,163 3,758 56 50 32 29 Peru 28,555 28,096 83 81 28 28 Philippines 64,856 57,964 86 77 41 37 Poland 218,022 193,709 115 103 52 46 Romania 104,943 89,996 174 149 66 57 Russian Federation 402,453 376,764 87 81 32 30 Rwanda 679 282 178 74 19 8 Samoa 257 154 167 100 52 31 São Tomé and Principe 178 19 724 79 117 13 Senegal 2,861 1,825 78 50 26 16 Serbia 30,918 27,411 125 111 79 70 Seychelles 1,505 1,559 153 159 178 185 Sierra Leone 389 169 83 36 24 10 Solomon Islands 165 116 66 46 30 21 Somalia 2,949 3,635 .. .. .. .. South Africa 41,943 43,451 44 46 16 16 Sri Lanka 15,154 11,679 124 96 46 35 St. Kitts and Nevis 258 217 99 83 53 45 St. Lucia 831 760 163 149 94 86 St. Vincent and the Grenadines 207 173 81 68 39 33 Sudan 19,633 33,234 175 296 46 78 Swaziland 362 329 15 14 13 12 Tajikistan 1,466 885 42 26 39 23 Tanzania 5,938 2,357 136 54 36 14 (table continues on next page) 14 S U M M A R Y T A B L E S Table 1. Key Indebtedness Indicators, 2006­2008 (continued) (US$ millions) Ratio of Ratio of Ratio of Total Present total external present value of Ratio of total present value external value of debt to exports of debt to exports of external debt of debt to Country debt 2008 debt 2008 GS (%) GS (%) to GNI (%) GNI (%) Thailand 64,798 59,181 35 32 34 31 Togo 1,573 1,265 132 106 63 51 Tonga 90 56 85 53 35 22 Tunisia 20,776 19,109 93 85 63 58 Turkey 277,277 260,994 181 170 42 40 Turkmenistan 638 594 6 6 5 5 Uganda 2,249 1,173 71 37 19 10 Ukraine 92,479 89,004 129 124 65 63 Uruguay 11,049 10,021 134 122 44 40 Uzbekistan 3,995 3,359 37 31 18 15 Vanuatu 138 100 54 39 29 21 Venezuela, RB 50,229 51,009 57 58 21 21 Vietnam 26,158 20,413 45 36 37 29 Yemen, Rep. 6,258 3,962 61 39 29 18 Zambia 2,986 680 62 14 28 6 Zimbabwe 5,199 6,193 277 330 149 177 Notes: GS Goods and services; GNI gross national income; . . data not available. Exports and GNI are three-year averages based on 2006­08. For definitions of indicators, see the "About the data" section. Numbers in 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 Countries (HIPC) Initiative as well as relief under the Multilateral Debt Relief Initiative (MDRI). Under 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. Since 2007, the Inter-American Development Bank (IaDB) has provided similar debt stock cancellation. MDRI debt relief provides 100 percent stock cancellation on debt disbursed before end-2004 (for the IMF, AfDF, and IaDB) 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). Nepal decided not to avail itself of debt relief under HIPC. 15 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 2. Composition of Total External Debt Stocks for 2008 (US$ millions) Public and Public and Public and Public and publicly Total Total publicly publicly publicly guaranteed, external long-term guaranteed, guaranteed, guaranteed, commercial banks debt stocks external debt multilateral bilateral bonds and other Afghanistan 2,200 2,096 1,004 1,091 0 0 Albania 3,188 2,329 1,295 586 0 342 Algeria 5,476 4,172 20 1,981 0 1,011 Angola 15,130 12,711 421 3,583 0 8,707 Argentina 128,285 90,762 14,643 5,636 45,566 566 Armenia 3,418 2,818 1,111 333 0 1 Azerbaijan 4,309 3,061 1,140 752 0 842 Bangladesh 23,644 20,973 17,334 3,103 0 535 Belarus 12,299 5,340 50 3,529 0 172 Belize 1,031 1,024 229 105 24 657 Benin 986 926 622 305 0 0 Bhutan 692 692 238 454 0 0 Bolivia 5,537 5,371 1,812 502 10 80 Bosnia and Herzegovina 8,316 7,404 1,985 821 0 201 Botswana 438 395 248 141 0 6 Brazil 255,614 218,962 18,574 4,571 41,030 9,449 Bulgaria 38,045 19,552 2,211 799 1,617 36 Burkina Faso 1,681 1,517 1,205 291 0 22 Burundi 1,445 1,308 1,165 144 0 0 Cambodia 4,215 3,892 1,420 2,472 0 0 Cameroon 2,794 2,765 609 1,518 0 2 Cape Verde 625 611 483 118 0 10 Central African Republic 949 815 578 207 0 31 Chad 1,749 1,705 1,469 202 0 33 Chile 64,277 49,367 831 361 4,513 3,113 China 378,245 191,057 30,655 32,473 13,925 12,230 Colombia 46,887 41,202 13,259 631 12,280 3,221 Comoros 281 270 219 52 0 0 Congo, Dem. Rep. 12,199 10,872 4,150 6,371 0 351 Congo, Rep. 5,485 5,084 450 3,084 0 1,550 Costa Rica 8,812 4,948 903 332 1,660 148 Côte d'Ivoire 12,561 11,028 2,892 5,224 0 2,499 Djibouti 685 667 363 292 0 12 Dominica 303 205 111 34 37 23 Dominican Republic 10,484 7,989 1,883 2,538 1,374 1,350 Ecuador 16,851 15,187 4,119 1,387 3,860 228 Egypt, Arab Rep. 32,616 30,097 6,999 18,998 2,184 338 El Salvador 10,110 9,058 2,773 702 2,174 93 Eritrea 962 957 643 275 0 40 Ethiopia 2,882 2,826 1,603 985 0 239 Fiji 379 360 109 101 0 150 Gabon 2,367 2,247 381 791 946 129 Gambia, The 453 420 287 121 0 12 Georgia 3,380 2,562 1,190 530 500 1 Ghana 4,970 3,452 1,862 238 750 562 Grenada 519 446 149 85 210 2 Guatemala 15,889 13,738 3,054 366 955 0 Guinea 3,092 2,830 1,848 951 0 30 Guinea-Bissau 1,157 1,004 508 496 0 0 Guyana 816 663 381 273 0 9 Haiti 1,935 1,830 1,329 452 0 50 Honduras 3,430 2,880 1,428 826 0 36 India 230,611 185,365 40,429 23,042 6,451 8,812 Indonesia 150,851 124,286 19,962 41,967 10,450 4,525 Iran, Islamic Rep. 13,937 8,902 761 1,420 0 6,721 Jamaica 10,034 8,763 1,325 661 4,256 357 Jordan 6,577 5,123 1,956 2,818 184 166 16 S U M M A R Y T A B L E S Private non- Private non- guaranteed, guaranteed, commercial banks IBRD IDA Use of IMF Short-term bonds and other (memo) (memo) credit external debt 0 0 0 444 87 17 Afghanistan 0 106 17 817 80 779 Albania 0 1,161 11 0 0 1,304 Algeria 0 0 0 369 0 2,419 Angola 7,921 16,431 5,069 0 0 37,523 Argentina 0 1,373 5 1,025 135 465 Armenia 0 327 78 698 79 1,169 Azerbaijan 0 0 0 10,613 686 1,986 Bangladesh 19 1,569 42 0 0 6,959 Belarus 0 10 21 0 0 7 Belize 0 0 0 255 22 38 Benin 0 0 0 94 0 0 Bhutan 0 2,969 0 281 0 166 Bolivia 0 4,398 443 1,077 0 912 Bosnia and Herzegovina 0 0 0 5 0 43 Botswana 37,855 107,483 10,671 0 0 36,652 Brazil 522 14,367 1,207 0 0 18,493 Bulgaria 0 0 0 626 54 110 Burkina Faso 0 0 0 819 117 19 Burundi 0 0 0 545 0 323 Cambodia 0 636 35 225 24 5 Cameroon 0 0 0 284 12 1 Cape Verde 0 0 0 390 63 71 Central African Republic 0 0 0 905 41 4 Chad 5,585 34,964 200 2 0 14,910 Chile 5,970 95,804 12,464 9,786 0 187,188 China 809 11,003 5,438 2 0 5,684 Colombia 0 0 0 122 5 6 Comoros 0 0 0 2,437 654 673 Congo, Dem. Rep. 0 0 0 299 38 363 Congo, Rep. 0 1,904 41 0 0 3,864 Costa Rica 0 414 117 1,797 188 1,344 Côte d'Ivoire 0 0 0 152 17 1 Djibouti 0 0 2 26 15 83 Dominica 843 1 449 9 492 2,003 Dominican Republic 0 5,592 612 12 0 1,664 Ecuador 750 829 1,255 1,444 0 2,519 Egypt, Arab Rep. 0 3,316 400 9 0 1,052 El Salvador 0 0 0 473 0 5 Eritrea 0 0 0 859 0 56 Ethiopia 0 0 1 0 0 19 Fiji 0 0 20 0 0 120 Gabon 0 0 0 62 12 20 Gambia, The 0 341 0 989 460 357 Georgia 39 0 0 1,330 162 1,356 Ghana 0 0 12 37 13 60 Grenada 55 9,309 806 0 0 2,151 Guatemala 0 0 0 1,288 71 192 Guinea 0 0 0 309 9 144 Guinea-Bissau 0 0 0 10 57 96 Guyana 0 0 0 507 105 0 Haiti 0 590 0 449 31 518 Honduras 14,763 91,869 7,429 25,419 0 45,246 India 9,895 37,488 6,968 2,006 0 26,565 Indonesia 0 0 761 0 0 5,035 Iran, Islamic Rep. 2,130 34 327 0 0 1,271 Jamaica 0 0 835 37 28 1,426 Jordan (table continues on next page) 17 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 2. Composition of Total External Debt Stocks for 2008 (continued) (US$ millions) Public and Public and Public and Public and publicly Total Total publicly publicly publicly guaranteed, external long-term guaranteed, guaranteed, guaranteed, commercial banks debt stocks external debt multilateral bilateral bonds and other Kazakhstan 107,595 96,958 748 1,164 0 3 Kenya 7,441 6,268 3,688 2,278 0 302 Kyrgyz Republic 2,464 2,269 1,290 672 0 0 Lao PDR 4,944 4,923 1,955 755 0 0 Latvia 42,108 27,192 734 30 1,426 67 Lebanon 24,395 21,031 1,044 1,138 17,490 889 Lesotho 682 653 600 40 0 13 Liberia 3,484 1,237 161 881 0 195 Lithuania 31,719 23,550 188 2 5,114 24 Macedonia, FYR 4,678 2,950 1,015 230 209 84 Madagascar 2,086 1,728 1,377 338 0 7 Malawi 963 838 485 343 0 11 Malaysia 66,182 43,382 399 4,767 11,767 4,532 Maldives 987 499 280 78 0 140 Mali 2,190 2,150 1,161 983 0 5 Mauritania 1,960 1,643 922 707 0 14 Mauritius 626 626 264 223 0 90 Mexico 203,984 179,557 10,653 1,769 34,685 66,848 Moldova 3,787 2,307 495 286 6 4 Mongolia 1,721 1,701 963 601 75 14 Montenegro 1,490 888 567 287 0 25 Morocco 20,825 19,194 8,576 5,965 0 1,996 Mozambique 3,432 2,788 1,661 1,120 0 7 Myanmar 7,210 5,413 1,311 3,286 0 817 Nepal 3,685 3,551 3,187 360 0 4 Nicaragua 3,558 2,727 1,250 1,005 0 4 Niger 966 896 666 216 0 0 Nigeria 11,221 3,765 2,989 323 0 278 Pakistan 49,337 43,591 22,058 14,490 2,650 161 Panama 10,722 10,722 1,387 192 7,896 186 Papua New Guinea 1,418 1,409 721 299 0 44 Paraguay 4,163 3,017 1,297 645 0 323 Peru 28,555 22,408 7,939 4,336 6,879 176 Philippines 64,856 57,855 7,414 14,191 16,014 1,440 Poland 218,022 153,118 1,776 1,121 40,529 0 Romania 104,943 73,827 7,295 710 2,714 4,268 Russian Federation 402,453 347,799 4,477 3,894 66,719 28,156 Rwanda 679 645 556 90 0 0 Samoa 257 257 221 36 0 0 São Tomé and Principe 178 155 41 114 0 0 Senegal 2,861 2,600 1,571 842 0 6 Serbia 30,918 26,795 4,762 2,538 0 1,175 Seychelles 1,505 654 53 150 305 146 Sierra Leone 389 327 263 63 0 0 Solomon Islands 165 162 113 23 0 0 Somalia 2,949 1,983 803 1,143 0 37 South Africa 41,943 24,006 259 0 7,429 5,486 Sri Lanka 15,154 12,899 5,559 5,695 500 869 St. Kitts and Nevis 258 257 112 34 19 92 St. Lucia 831 317 195 25 44 53 St. Vincent and the Grenadines 207 206 112 24 0 71 Sudan 19,633 12,599 3,120 7,047 0 2,431 Swaziland 362 348 233 99 0 16 Tajikistan 1,466 1,410 724 633 0 0 Tanzania 5,938 4,599 2,677 945 0 89 Thailand 64,798 40,588 271 7,130 1,944 2,822 Togo 1,573 1,433 859 574 0 0 Tonga 90 90 72 18 0 0 Tunisia 20,776 16,449 5,921 3,282 4,050 3,196 18 S U M M A R Y T A B L E S Private non- Private non- guaranteed, guaranteed, commercial banks IBRD IDA Use of IMF Short-term bonds and other (memo) (memo) credit external debt 24,125 70,917 463 0 0 10,637 Kazakhstan 0 0 0 3,050 252 921 Kenya 0 307 0 655 165 30 Kyrgyz Republic 0 2,213 0 685 21 0 Lao PDR 278 24,656 61 0 825 14,091 Latvia 470 0 368 0 117 3,246 Lebanon 0 0 3 303 30 0 Lesotho 0 0 0 72 858 1,389 Liberia 1,030 17,192 27 0 0 8,169 Lithuania 0 1,412 230 361 0 1,729 Macedonia, FYR 0 6 0 1,066 99 258 Madagascar 0 0 0 188 125 0 Malawi 6,568 15,350 85 0 0 22,800 Malaysia 0 0 0 79 4 484 Maldives 0 0 0 534 40 0 Mali 0 0 0 243 16 301 Mauritania 0 49 103 9 0 0 Mauritius 19,958 45,644 5,867 0 0 24,427 Mexico 0 1,516 129 311 166 1,314 Moldova 0 48 0 338 20 0 Mongolia 0 9 269 71 0 602 Montenegro 0 2,656 2,540 16 0 1,631 Morocco 0 0 0 1,149 15 629 Mozambique 0 0 0 770 0 1,797 Myanmar 0 0 0 1,507 77 57 Nepal 0 468 0 347 111 720 Nicaragua 0 13 0 248 51 19 Niger 175 0 211 2,243 0 7,456 Nigeria 850 3,382 1,946 9,053 4,352 1,395 Pakistan 1,061 0 271 0 0 0 Panama 0 345 158 71 0 9 Papua New Guinea 0 751 214 16 0 1,146 Paraguay 1,269 1,809 2,712 0 0 6,147 Peru 1,314 17,483 2,533 187 0 7,001 Philippines 1,960 107,731 1,776 0 0 64,904 Poland 0 58,839 2,572 0 0 31,116 Romania 78,078 166,475 3,851 0 0 54,655 Russian Federation 0 0 0 242 11 23 Rwanda 0 0 0 79 0 0 Samoa 0 0 0 13 4 19 São Tomé and Principe 0 180 0 791 64 197 Senegal 165 18,155 2,276 655 0 4,123 Serbia 0 0 0 0 9 842 Seychelles 0 0 0 108 53 9 Sierra Leone 0 26 0 44 0 3 Solomon Islands 0 0 0 446 173 793 Somalia 6,017 4,816 26 0 0 17,937 South Africa 100 175 0 2,381 169 2,087 Sri Lanka 0 0 13 1 0 1 St. Kitts and Nevis 0 0 18 49 0 514 St. Lucia 0 0 3 19 0 1 St. Vincent and the Grenadines 0 0 0 1,300 406 6,628 Sudan 0 0 14 3 0 15 Swaziland 0 53 0 365 15 41 Tajikistan 0 889 0 1,971 17 1,322 Tanzania 3,181 25,240 65 62 0 24,210 Thailand 0 0 0 604 48 92 Togo 0 0 0 22 0 0 Tonga 0 0 1,353 22 0 4,327 Tunisia (table continues on next page) 19 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 2. Composition of Total External Debt Stocks for 2008 (continued) (US$ millions) Public and Public and Public and Public and publicly Total Total publicly publicly publicly guaranteed, external long-term guaranteed, guaranteed, guaranteed, commercial banks debt stocks external debt multilateral bilateral bonds and other Turkey 277,277 218,038 12,656 5,591 37,593 22,104 Turkmenistan 638 587 20 480 0 87 Uganda 2,249 1,781 1,563 193 0 25 Ukraine 92,479 67,374 3,307 1,698 3,918 1,802 Uruguay 11,049 10,232 2,932 125 6,919 69 Uzbekistan 3,995 3,784 931 1,744 0 480 Vanuatu 138 102 71 31 0 0 Venezuela, RB 50,229 33,235 2,753 837 23,353 2,982 Vietnam 26,158 21,618 7,977 11,741 1,194 706 Yemen, Rep. 6,258 5,679 3,036 2,637 0 6 Zambia 2,986 2,215 828 225 0 114 Zimbabwe 5,199 3,696 1,605 1,631 0 447 All developing countries 3,718,539 2,848,437 387,846 309,287 456,394 226,134 East Asia & Pacific 771,628 497,096 73,633 119,891 55,369 27,280 Europe & Central Asia 1,398,989 1,091,913 49,969 28,433 160,345 59,875 Latin America & Caribbean 894,367 735,073 95,431 28,454 197,743 90,184 Middle East & North Africa 131,545 111,315 28,676 38,530 23,907 14,335 South Asia 326,311 269,665 90,090 48,314 9,601 10,521 Sub-Saharan Africa 195,699 143,375 50,047 45,664 9,429 23,939 Low income 168,325 143,169 78,503 52,155 1,944 5,177 Middle income 3,550,214 2,705,268 309,343 257,132 454,450 220,957 20 S U M M A R Y T A B L E S Private non- Private non- guaranteed, guaranteed, commercial banks IBRD IDA Use of IMF Short-term bonds and other (memo) (memo) credit external debt 6,759 133,335 8,046 54 8,524 50,714 Turkey 0 1 14 0 0 51 Turkmenistan 0 0 0 1,004 9 458 Uganda 4,965 51,683 3,022 0 4,709 20,397 Ukraine 187 0 713 0 0 817 Uruguay 0 629 313 55 0 211 Uzbekistan 0 0 0 13 0 36 Vanuatu 3,310 0 0 0 0 16,994 Venezuela, RB 0 0 0 5074 121 4,419 Vietnam 0 0 0 2,113 95 483 Yemen, Rep. 0 1,049 0 371 96 676 Zambia 0 13 464 519 114 1,389 Zimbabwe 248,976 1,219,800 98,466 111,297 25,740 844,362 All developing countries 26,928 193,997 22,275 19,683 162 274,370 East Asia & Pacific 117,901 675,389 24,840 7,134 15,158 291,917 Europe & Central Asia 80,983 242,278 33,857 1,778 824 158,470 Latin America & Caribbean 1,220 4,646 7,123 3,784 258 19,972 Middle East & North Africa 15,713 95,426 9,376 49,589 5,374 51,271 South Asia 6,231 8,064 994 29,329 3,963 48,361 Sub-Saharan Africa 39 5,351 777 45,815 4,623 20,533 Low income 248,937 1,214,449 97,689 65,482 21,117 823,829 Middle income 21 Regional and income group aggregate tables 23 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 1,207,667 1,872,207 2,152,234 2,606,224 2,622,530 2,810,615 3,450,763 3,718,539 Long-term external debt 992,898 1,484,761 1,800,285 2,056,871 2,054,508 2,179,272 2,577,888 2,848,437 Public and publicly guaranteed 933,499 1,275,451 1,284,529 1,434,209 1,307,561 1,240,235 1,335,372 1,379,661 Private nonguaranteed 59,398 209,310 515,756 622,662 746,947 939,036 1,242,517 1,468,776 Use of IMF credit 34,135 59,881 58,266 96,044 49,179 19,859 15,540 25,740 Short-term external debt 180,634 327,614 293,684 453,309 518,843 611,484 857,334 844,362 interest arrears on long-term 46,126 42,189 29,440 48,512 28,418 26,227 27,124 26,888 Memorandum items Principal arrears on long-term 57,333 98,385 51,053 73,762 45,770 45,973 46,897 48,973 Long-term public sector debt 927,785 1,270,334 1,277,912 1,427,402 1,300,816 1,233,550 1,327,797 1,371,193 Long-term private sector debt 65,138 214,451 522,393 629,469 753,707 945,752 1,250,092 1,477,244 Public & publicly guaranteed commitments 96,086 140,587 138,308 136,873 165,514 138,284 194,415 174,737 External debt flows Disbursements 104,746 209,641 240,289 351,443 428,443 511,219 709,163 704,745 Long-term external debt 96,811 181,904 230,174 344,496 424,482 507,105 707,150 690,138 IMF purchases 7,935 27,783 10,114 6,946 3,961 4,113 2,013 14,607 Principal repayments 67,989 120,787 237,770 305,932 362,583 416,008 395,873 448,170 Long-term external debt 60,164 110,780 217,168 284,294 318,461 385,188 388,718 444,370 IMF repurchases 7,825 10,035 20,603 21,637 44,122 30,819 7,155 3,800 Net flows 60,924 143,981 -6,026 107,051 151,488 190,044 557,838 243,838 Long-term external debt 36,647 71,124 13,007 60,202 106,022 121,917 318,431 245,768 Short-term external debt 24,167 55,127 -8,545 61,540 85,628 94,833 244,547 -12,737 Interest payments 56,356 86,046 113,917 98,794 107,943 122,107 144,286 154,301 Long-term external debt 45,684 68,497 94,860 81,596 87,591 98,141 113,842 127,910 IMF charges 2,439 2,678 2,865 3,463 3,277 1,622 710 979 Short-term external debt 8,234 14,876 16,192 13,735 17,074 22,343 29,734 25,412 2. Other non-debt resource flows Foreign direct investment (net) 23,518 98,500 158,864 215,740 281,104 363,155 528,447 593,628 Portfolio equity flows 3,390 13,993 14,137 38,594 68,843 105,796 135,360 -57,148 Profit remittances on FDI 16,231 37,742 68,295 128,360 171,553 242,974 315,637 355,850 Grants (excluding technical coop.) 27,065 31,501 28,390 53,552 56,843 106,853 76,001 86,184 of which: Debt forgiveness grants .. .. 5,069 15,179 37,349 113,467 23,580 4,569 IDA grants .. .. .. 989 961 1,190 1,912 2,078 Memo: technical coop. grants 13,786 18,977 14,373 20,240 20,363 21,846 15,618 18,696 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 18.1 15.6 16.8 17.2 15.7 Japanese yen 11.2 12.9 11.9 10.7 10.0 10.1 9.3 11.0 Pound sterling 2.5 1.6 1.0 1.4 1.1 0.8 0.7 0.4 Swiss franc 1.8 1.1 0.5 0.7 0.7 0.7 0.8 0.9 U.S.dollars 44.4 47.7 62.3 61.1 64.5 63.9 64.6 64.8 4. Average terms of new commitments Official creditors Interest (%) 5.2 5.8 4.7 2.6 3.6 3.9 3.9 3.0 Maturity (years) 23.5 19.3 20.5 22.4 22.1 22.7 22.7 23.8 Grace period (years) 6.7 5.3 5.1 6.0 5.7 6.1 6.3 6.7 Private creditors Interest (%) 8.6 6.5 8.0 5.7 6.0 6.0 6.3 6.0 Maturity (years) 11.1 7.4 11.9 10.7 11.7 11.9 10.4 11.8 Grace period (years) 4.0 3.4 8.9 8.7 9.5 9.5 8.1 8.3 5. Major economic aggregates Gross national income (GNI) 3,577,893 4,918,920 5,780,282 8,129,403 9,659,705 11,393,541 14,007,539 16,790,419 Exports of goods, services & income 692,226 1,213,072 1,760,759 2,888,874 3,559,290 4,353,388 5,282,577 6,332,490 Worker remit. & comp. of employees 30,436 55,771 82,481 161,847 193,004 228,959 281,781 326,711 Imports of goods & services 734,488 1,332,081 1,761,622 2,775,304 3,334,113 4,007,138 4,916,398 6,015,029 International reserves 182,111 453,910 669,868 1,610,191 2,003,776 2,647,254 3,747,779 4,024,851 6. Ratios External debt stocks to exports (%) 174.5 154.3 122.2 90.2 73.7 64.6 65.3 58.7 External debt stocks to GNI (%) 33.8 38.1 37.2 32.1 27.1 24.7 24.6 22.1 Debt service to exports (%) 18.0 17.1 20.0 14.0 13.2 12.4 10.2 9.5 Short-term to external debt stocks (%) 15.0 17.5 13.6 17.4 19.8 21.8 24.8 22.7 Multilateral to external debt stocks (%) 15.9 14.6 14.9 14.6 14.0 12.2 10.6 10.4 Reserves to external debt stocks (%) 15.1 24.2 31.1 61.8 76.4 94.2 108.6 108.2 Reserves to imports (months) 3.0 4.1 4.6 7.0 7.2 7.9 9.1 8.0 24 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 992,898 1,484,761 1,800,285 2,056,871 2,054,508 2,179,272 2,577,888 2,848,437 Public and publicly guaranteed 933,499 1,275,451 1,284,529 1,434,209 1,307,561 1,240,235 1,335,372 1,379,661 Official creditors 518,277 773,377 751,832 807,064 710,212 632,122 657,218 697,133 Multilateral 191,992 273,726 320,722 380,641 368,013 342,300 365,604 387,846 of which: IBRD 90,212 108,080 110,526 103,606 97,846 94,347 95,521 98,466 IDA 45,234 71,452 86,766 124,295 120,730 98,984 107,726 111,297 Bilateral 326,285 499,651 431,110 426,423 342,198 289,822 291,613 309,287 Private creditors 415,222 502,074 532,697 627,145 597,349 608,114 678,154 682,528 of which: Bonds 97,459 228,490 343,845 435,865 403,233 413,085 452,553 456,394 Commercial banks 215,134 146,819 120,989 140,204 150,111 156,228 191,847 195,653 Private nonguaranteed 59,398 209,310 515,756 622,662 746,947 939,036 1,242,517 1,468,776 of which: Bonds 347 51,018 92,954 123,066 156,168 196,493 260,467 248,976 Disbursements 96,811 181,904 230,174 344,496 424,482 507,105 707,150 690,138 Public and publicly guaranteed 79,584 128,015 130,047 141,004 153,154 141,187 182,547 177,214 Official creditors 44,555 64,015 50,821 46,302 44,375 51,995 56,267 68,373 Multilateral 25,572 30,378 32,833 32,712 32,681 38,282 41,651 47,786 of which: IBRD 13,140 12,755 13,318 10,444 9,433 12,129 10,501 13,692 IDA 4,330 5,474 5,219 7,747 7,119 6,771 7,358 6,864 Bilateral 18,983 33,637 17,988 13,590 11,694 13,713 14,617 20,587 Private creditors 35,030 64,000 79,226 94,702 108,780 89,192 126,280 108,841 of which: Bonds 3,915 22,286 54,797 59,710 64,738 55,575 66,752 61,714 Commercial banks 14,316 22,543 15,441 30,754 40,132 29,095 56,030 43,389 Private nonguaranteed 17,227 53,888 100,127 203,492 271,328 365,918 524,602 512,924 of which: Bonds 291 14,063 11,619 33,419 49,190 53,792 86,668 25,287 Principal repayments 60,164 110,780 217,168 284,294 318,461 385,188 388,718 444,370 Public and publicly guaranteed 52,980 84,622 113,607 124,829 151,428 194,194 127,401 145,855 Official creditors 20,410 41,486 45,704 57,774 76,077 98,207 53,109 51,105 Multilateral 10,677 18,549 21,879 30,051 25,756 36,065 25,791 26,209 of which: IBRD 7,803 11,370 9,603 15,131 12,301 17,368 11,127 11,112 IDA 246 542 947 1,522 1,618 2,061 1,932 2,373 Bilateral 9,733 22,937 23,824 27,723 50,321 62,142 27,317 24,896 Private creditors 32,570 43,136 67,903 67,055 75,351 95,987 74,293 94,750 of which: Bonds 4,270 11,091 32,679 33,201 41,614 59,167 40,118 50,913 Commercial banks 14,611 15,281 23,274 25,552 24,997 27,372 27,241 36,484 Private nonguaranteed 7,184 26,158 103,561 159,466 167,033 190,994 261,317 298,516 of which: Bonds 0 4,042 15,032 24,099 15,505 18,619 26,135 21,130 Interest payments 45,684 68,497 94,860 81,596 87,591 98,141 113,842 127,910 Public and publicly guaranteed 41,152 57,552 63,123 55,120 61,307 57,309 60,379 59,931 Official creditors 17,234 28,063 25,978 21,600 23,798 19,389 19,654 18,358 Multilateral 9,631 12,828 14,813 10,503 10,356 11,439 12,514 11,964 of which: IBRD 6,752 7,735 7,521 4,046 4,056 4,846 5,524 4,672 IDA 300 503 577 891 894 845 771 915 Bilateral 7,602 15,235 11,165 11,097 13,442 7,950 7,140 6,394 Private creditors 23,918 29,489 37,145 33,521 37,509 37,920 40,725 41,573 of which: Bonds 4,004 15,091 24,757 25,761 29,443 28,621 29,855 30,769 Commercial banks 14,607 7,842 8,771 5,765 6,445 7,723 9,014 9,017 Private nonguaranteed 4,532 10,945 31,737 26,476 26,284 40,832 53,463 67,978 of which: Bonds 3 3,172 7,969 8,474 9,421 14,718 17,231 17,055 8. Debt stock-flow reconciliation Total change in external debt stocks 90,712 171,565 -64,257 156,741 16,306 187,002 640,148 .. 750 Non-debt flows (bill US$) Net flows on external debt 60,924 143,981 200 -6,026 107,051 Debt 151,488 ratios190,044 (%) 557,838 317,618 Cross-currency valuation 40,348 4,372 -50,063 36,071 -77,057 -3,267 43,381 .. 9. Debt restructurings Total amount rescheduled 77,748 30,711 60,760 150 7,652 31,175 4,801 3,309 .. Total amount forgiven 500 12,603 2,244 840 4,949 9,774 16,032 3,227 .. Debt buyback 3,583 162 17,016 1,110 736 5,450 6,018 .. 100 250 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 25 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 233,949 455,541 496,904 586,342 633,029 667,717 749,988 771,628 Long-term external debt 194,501 345,390 418,844 405,480 418,891 434,407 459,832 497,096 Public and publicly guaranteed 172,960 255,407 271,425 269,719 259,616 259,185 258,299 276,172 Private nonguaranteed 21,541 89,982 147,419 135,760 159,275 175,221 201,533 220,924 Use of IMF credit 2,085 1,337 16,452 10,964 8,545 239 215 162 Short-term external debt 37,363 108,814 61,609 169,899 205,593 233,072 289,941 274,370 interest arrears on long-term 1,885 2,952 5,334 8,467 1,048 1,020 1,099 1,112 Memorandum items Principal arrears on long-term 2,965 10,943 7,415 15,929 5,627 5,669 5,916 5,911 Long-term public sector debt 172,422 254,018 271,045 268,782 258,202 257,759 256,934 274,877 Long-term private sector debt 22,079 91,371 147,799 136,698 160,689 176,647 202,898 222,219 Public & publicly guaranteed commitments 23,297 46,438 26,963 25,039 24,895 18,088 17,635 24,038 External debt flows Disbursements 29,472 59,114 41,430 62,463 75,386 75,574 89,296 88,187 Long-term external debt 29,413 58,912 39,937 62,463 75,386 75,574 89,296 88,187 IMF purchases 58 203 1,493 0 0 0 0 0 Principal repayments 18,644 32,240 47,885 58,639 64,490 71,019 66,511 72,961 Long-term external debt 17,358 31,850 47,617 57,003 62,893 62,539 66,476 72,913 IMF repurchases 1,286 390 267 1,636 1,597 8,479 35 49 Net flows 18,614 54,086 -17,257 37,299 54,008 32,063 79,576 -359 Long-term external debt 12,055 27,062 -7,681 5,459 12,493 13,035 22,820 15,274 Short-term external debt 7,786 27,212 -10,802 33,476 43,113 27,507 56,790 -15,584 Interest payments 12,501 20,622 25,181 19,970 18,711 22,761 26,575 23,988 Long-term external debt 10,147 15,539 20,379 15,014 12,930 14,090 17,287 16,679 IMF charges 245 69 793 285 336 308 3 1 Short-term external debt 2,109 5,014 4,010 4,670 5,445 8,362 9,285 7,308 2. Other non-debt resource flows Foreign direct investment (net) 10,512 50,798 45,166 70,416 104,358 105,655 177,017 187,104 Portfolio equity flows 440 3,746 6,589 19,313 25,683 56,193 35,090 -8,139 Profit remittances on FDI 5,159 15,885 31,681 40,619 47,096 55,733 72,941 81,543 of which: Debt forgiveness grants .. .. 132 10 25 367 57 26 IDA grants .. .. .. 1 16 30 51 68 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.7 8.4 8.9 9.1 7.4 Japanese yen 29.1 28.2 28.3 28.3 26.6 25.4 24.4 27.3 Pound sterling 1.0 0.4 0.5 0.7 0.8 0.7 0.7 0.4 Swiss franc 1.0 0.5 0.2 0.3 0.3 0.2 0.2 0.2 U.S.dollars 23.6 36.7 55.9 54.3 56.8 57.9 58.6 58.4 4. Average terms of new commitments Official creditors Interest (%) 4.9 5.3 3.8 2.2 3.1 4.2 3.6 2.7 Maturity (years) 24.6 22.0 26.9 25.0 25.1 24.7 24.3 24.1 Grace period (years) 7.1 5.6 6.3 6.6 6.6 6.5 6.7 6.9 Private creditors Interest (%) 8.3 6.4 6.6 5.2 5.6 6.3 5.2 5.5 Maturity (years) 14.1 9.6 13.0 8.7 10.4 14.5 15.5 14.1 Grace period (years) 3.5 4.4 4.5 6.8 8.1 8.9 11.6 9.5 5. Major economic aggregates Gross national income (GNI) 659,141 1,283,954 1,684,051 2,624,712 3,024,110 3,593,355 4,491,214 5,614,103 Exports of goods, services & income 177,001 417,577 643,148 1,132,390 1,401,937 1,730,647 2,137,269 2,498,605 Worker remit. & comp. of employees 3,258 9,694 16,675 39,157 46,688 52,956 65,344 78,224 Imports of goods & services 182,910 452,272 606,342 1,064,740 1,249,961 1,459,137 1,745,366 2,089,088 International reserves 71,348 167,801 283,042 802,615 1,020,347 1,315,680 1,856,736 2,124,222 6. Ratios External debt stocks to exports (%) 132.2 109.1 77.3 51.8 45.2 38.6 35.1 30.9 External debt stocks to GNI (%) 35.5 35.5 29.5 22.3 20.9 18.6 16.7 13.7 Debt service to exports (%) 17.6 12.7 11.4 6.9 5.9 5.4 4.4 3.9 Short-term to external debt stocks (%) 16.0 23.9 12.4 29.0 32.5 34.9 38.7 35.6 Multilateral to external debt stocks (%) 15.0 11.8 13.2 11.3 10.2 10.0 9.3 9.5 Reserves to external debt stocks (%) 30.5 36.8 57.0 136.9 161.2 197.0 247.6 275.3 Reserves to imports (months) 4.7 4.5 5.6 9.0 9.8 10.8 12.8 12.2 26 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 194,501 345,390 418,844 405,480 418,891 434,407 459,832 497,096 Public and publicly guaranteed 172,960 255,407 271,425 269,719 259,616 259,185 258,299 276,172 Official creditors 104,752 159,603 171,462 184,116 171,209 173,440 177,139 193,524 Multilateral 34,976 53,615 65,765 66,426 64,377 66,453 69,662 73,633 of which: IBRD 20,176 27,912 30,476 24,686 23,331 22,550 21,693 22,275 IDA 5,130 9,692 12,520 17,355 16,498 17,683 19,086 19,683 Bilateral 69,775 105,988 105,697 117,690 106,832 106,987 107,477 119,891 Private creditors 68,209 95,804 99,964 85,603 88,406 85,745 81,160 82,648 of which: Bonds 11,814 23,690 35,943 45,723 52,216 54,720 55,377 55,369 Commercial banks 35,219 39,894 33,257 18,529 17,347 14,157 12,386 14,944 Private nonguaranteed 21,541 89,982 147,419 135,760 159,275 175,221 201,533 220,924 of which: Bonds 160 15,574 22,077 20,432 24,832 28,198 28,666 26,928 Disbursements 29,413 58,912 39,937 62,463 75,386 75,574 89,296 88,187 Public and publicly guaranteed 19,586 38,015 26,490 25,307 25,551 24,268 17,989 22,422 Official creditors 10,138 17,659 15,620 9,525 9,057 11,265 10,458 12,656 Multilateral 4,711 6,135 6,942 4,316 5,145 5,950 6,709 7,774 of which: IBRD 2,532 3,168 3,245 1,861 1,825 2,012 2,347 3,200 IDA 604 934 700 774 627 754 1,058 1,152 Bilateral 5,427 11,524 8,678 5,209 3,912 5,315 3,749 4,881 Private creditors 9,448 20,356 10,870 15,782 16,494 13,003 7,531 9,766 of which: Bonds 852 4,449 4,539 11,387 11,523 8,756 4,295 4,889 Commercial banks 4,096 8,785 2,535 3,990 3,334 1,487 1,136 3,343 Private nonguaranteed 9,827 20,897 13,446 37,156 49,834 51,306 71,307 65,766 of which: Bonds 120 5,731 1,106 4,859 7,148 5,973 4,198 0 Principal repayments 17,358 31,850 47,617 57,003 62,893 62,539 66,476 72,913 Public and publicly guaranteed 14,807 21,665 23,410 25,897 23,521 24,683 20,961 22,547 Official creditors 4,266 8,357 10,243 13,159 10,352 12,376 13,603 13,221 Multilateral 2,032 3,094 4,062 6,055 4,610 4,676 4,970 4,776 of which: IBRD 1,462 2,152 2,006 4,307 2,798 2,891 3,336 2,775 IDA 19 50 107 248 286 324 368 413 Bilateral 2,234 5,262 6,182 7,104 5,743 7,700 8,633 8,445 Private creditors 10,541 13,308 13,166 12,738 13,168 12,307 7,358 9,326 of which: Bonds 1,925 1,854 1,211 4,092 4,303 5,334 2,355 3,817 Commercial banks 5,395 5,320 7,160 6,122 5,193 2,579 2,512 1,723 Private nonguaranteed 2,551 10,185 24,208 31,107 39,372 37,856 45,515 50,366 of which: Bonds 0 120 5,168 2,554 2,308 3,415 3,852 1,543 Interest payments 10,147 15,539 20,379 15,014 12,930 14,090 17,287 16,679 Public and publicly guaranteed 8,864 12,046 12,839 10,573 8,589 9,063 10,371 9,943 Official creditors 3,673 6,284 7,238 5,912 4,021 4,377 5,018 4,596 Multilateral 2,146 3,051 3,834 2,504 2,018 2,245 2,493 2,284 of which: IBRD 1,521 1,999 2,146 1,204 1,028 1,168 1,298 1,085 IDA 34 69 87 129 133 131 134 146 Bilateral 1,527 3,232 3,404 3,408 2,003 2,132 2,525 2,312 Private creditors 5,191 5,763 5,601 4,661 4,568 4,686 5,353 5,346 of which: Bonds 923 1,238 2,300 3,016 3,232 3,624 3,950 4,027 Commercial banks 2,795 2,462 1,921 848 832 581 673 551 Private nonguaranteed 1,283 3,493 7,539 4,441 4,342 5,027 6,917 6,737 of which: Bonds 2 503 1,942 1,269 1,772 2,018 2,225 2,018 8. Debt stock-flow reconciliation Total change in external debt stocks 27,547 71,931 -42,082 48,239 46,686 34,689 82,271 .. 250 Non-debt flows (bill US$) Net flows on external debt 18,614 54,086 300 -17,257 37,299 Debt 54,008 ratios (%) 32,063 79,576 48,447 Cross-currency valuation 8,551 -1,772 -13,909 5,482 -15,816 3,688 7,513 .. Debt 9. 200 restructurings 250 Total amount rescheduled 1,478 314 2,468 0 2,809 3 1 .. Total amount forgiven 0 44 200 5 5 8 35 6 .. Debt buyback 150 721 0 0 0 0 0 0 .. 150 100 100 50 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 27 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 128,610 290,169 432,673 639,343 712,007 893,064 1,242,404 1,398,989 Long-term external debt 106,050 241,001 341,723 484,338 547,741 683,024 932,772 1,091,913 Public and publicly guaranteed 101,130 229,733 248,140 274,770 246,479 244,560 298,237 298,622 Private nonguaranteed 4,921 11,268 93,583 209,568 301,262 438,464 634,535 793,291 Use of IMF credit 975 15,788 21,773 30,735 18,810 13,088 8,550 15,158 Short-term external debt 21,584 33,428 69,176 124,269 145,456 196,951 301,082 291,917 interest arrears on long-term 8,541 7,954 8,626 4,084 4,098 1,540 1,588 1,768 Memorandum items Principal arrears on long-term 6,324 28,567 14,080 3,583 3,545 2,018 2,136 2,950 Long-term public sector debt 100,371 229,234 247,597 274,033 245,804 243,936 297,165 297,185 Long-term private sector debt 5,679 11,767 94,126 210,305 301,937 439,089 635,607 794,728 Public & publicly guaranteed commitments 7,796 15,206 22,270 25,572 42,530 37,676 71,648 53,847 External debt flows Disbursements 8,760 24,262 51,644 134,227 192,677 240,653 360,669 377,645 Long-term external debt 8,186 16,285 47,275 132,585 189,888 237,572 359,425 368,153 IMF purchases 575 8,024 4,369 1,642 2,789 3,081 1,245 9,492 Principal repayments 8,593 15,016 38,990 91,772 128,073 138,753 161,866 214,517 Long-term external debt 8,190 12,998 34,072 84,238 115,488 129,864 155,586 212,029 IMF repurchases 402 2,046 4,917 7,533 12,585 8,889 6,280 2,488 Net flows 3,682 14,553 20,354 62,109 85,777 155,952 302,481 153,783 Long-term external debt -5 3,286 13,203 48,346 74,400 107,708 203,839 156,124 Short-term external debt 3,514 5,307 7,700 19,653 21,172 54,053 103,677 -9,344 Interest payments 5,967 11,109 19,247 24,677 29,576 37,220 50,446 64,387 Long-term external debt 5,125 9,299 14,874 19,740 23,357 29,795 39,617 54,191 IMF charges 93 605 1,064 1,201 1,125 905 623 429 Short-term external debt 749 1,211 3,308 3,736 5,094 6,520 10,207 9,768 2. Other non-debt resource flows Foreign direct investment (net) 2,617 9,371 18,695 55,283 61,592 113,766 156,759 173,617 Portfolio equity flows 89 461 1,311 3,469 8,013 10,173 26,544 -14,613 Profit remittances on FDI 181 1,663 3,617 29,093 42,209 69,196 95,257 119,935 of which: Debt forgiveness grants .. .. 594 1,723 929 6,186 93 10 IDA grants .. .. .. 2 16 36 57 49 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 31.6 27.0 30.1 28.5 28.9 Japanese yen 6.6 7.4 5.1 3.8 3.9 4.1 3.6 4.6 Pound sterling 1.8 1.1 0.7 0.9 0.4 0.5 0.4 0.3 Swiss franc 6.7 2.5 0.5 0.7 1.7 1.8 2.2 2.9 U.S.dollars 34.2 47.2 61.8 58.7 63.5 60.3 63.3 62.0 4. Average terms of new commitments Official creditors Interest (%) 7.2 5.7 5.7 3.1 2.7 3.9 4.3 4.3 Maturity (years) 17.0 17.0 17.6 18.4 22.8 18.4 18.4 20.2 Grace period (years) 6.3 5.4 5.3 6.1 6.4 5.9 6.1 7.2 Private creditors Interest (%) 9.2 6.6 8.6 5.4 4.8 5.6 5.8 5.7 Maturity (years) 6.2 5.9 10.2 9.9 10.9 8.1 6.9 7.9 Grace period (years) 3.1 2.6 7.6 8.3 9.5 6.8 5.8 6.1 5. Major economic aggregates Gross national income (GNI) 992,408 893,713 867,307 1,564,788 1,960,753 2,359,456 3,036,467 3,752,170 Exports of goods, services & income .. 246,540 319,319 605,544 756,265 937,263 1,168,733 1,499,381 Worker remit. & comp. of employees 3,246 7,206 12,143 20,955 30,089 37,341 50,777 57,801 Imports of goods & services .. 258,510 309,700 609,532 744,525 951,064 1,252,205 1,578,551 International reserves .. 58,197 95,560 263,463 356,478 536,350 780,048 719,007 6. Ratios External debt stocks to exports (%) .. 117.7 135.5 105.6 94.1 95.3 106.3 93.3 External debt stocks to GNI (%) 13.0 32.5 49.9 40.9 36.3 37.9 40.9 37.3 Debt service to exports (%) .. 10.6 18.2 19.2 20.8 18.8 18.2 18.6 Short-term to external debt stocks (%) 16.8 11.5 16.0 19.4 20.4 22.1 24.2 20.9 Multilateral to external debt stocks (%) 10.4 7.0 7.3 6.6 5.6 4.8 3.8 3.6 Reserves to external debt stocks (%) .. 20.1 22.1 41.2 50.1 60.1 62.8 51.4 Reserves to imports (months) .. 2.7 3.7 5.2 5.7 6.8 7.5 5.5 28 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 106,050 241,001 341,723 484,338 547,741 683,024 932,772 1,091,913 Public and publicly guaranteed 101,130 229,733 248,140 274,770 246,479 244,560 298,237 298,622 Official creditors 55,451 130,424 138,672 132,023 95,423 73,159 76,054 78,402 Multilateral 13,421 20,440 31,727 41,920 39,572 42,852 46,945 49,969 of which: IBRD 8,759 12,975 21,297 25,478 23,270 24,175 24,557 24,840 IDA 157 669 2,667 5,525 5,517 6,188 6,862 7,134 Bilateral 42,030 109,984 106,945 90,103 55,851 30,306 29,109 28,433 Private creditors 45,679 99,309 109,468 142,747 151,056 171,401 222,183 220,220 of which: Bonds 5,304 29,401 74,386 102,694 106,273 121,844 151,069 160,345 Commercial banks 35,572 36,079 25,231 33,077 39,637 45,108 67,788 57,151 Private nonguaranteed 4,921 11,268 93,583 209,568 301,262 438,464 634,535 793,291 of which: Bonds 16 149 6,796 28,996 48,070 74,195 111,344 117,901 Disbursements 8,186 16,285 47,275 132,585 189,888 237,572 359,425 368,153 Public and publicly guaranteed 6,425 13,657 22,183 25,924 38,260 34,946 69,389 45,350 Official creditors 2,593 5,572 7,296 7,239 5,655 6,766 8,895 11,466 Multilateral 1,458 3,628 4,748 5,651 4,496 5,174 5,838 7,712 of which: IBRD 950 2,376 3,004 2,773 2,069 2,673 2,155 2,909 IDA 0 370 351 725 417 412 468 423 Bilateral 1,135 1,945 2,548 1,588 1,159 1,592 3,057 3,754 Private creditors 3,831 8,084 14,886 18,685 32,605 28,180 60,494 33,884 of which: Bonds 708 2,669 8,461 13,040 19,420 17,668 30,964 22,579 Commercial banks 2,387 1,932 5,344 5,028 12,965 10,399 29,393 11,180 Private nonguaranteed 1,761 2,628 25,092 106,661 151,628 202,626 290,035 322,803 of which: Bonds 0 0 1,375 14,574 21,619 25,562 42,574 16,253 Principal repayments 8,190 12,998 34,072 84,238 115,488 129,864 155,586 212,029 Public and publicly guaranteed 6,693 11,551 15,053 24,223 47,162 47,464 25,800 40,532 Official creditors 2,697 3,984 6,611 11,727 31,945 33,574 9,317 9,569 Multilateral 1,315 2,146 2,478 4,464 4,266 3,959 4,040 4,132 of which: IBRD 1,026 919 1,161 3,145 3,103 2,835 2,672 2,637 IDA 4 6 6 13 23 38 56 75 Bilateral 1,382 1,838 4,133 7,263 27,679 29,614 5,277 5,437 Private creditors 3,997 7,567 8,442 12,496 15,217 13,890 16,483 30,964 of which: Bonds 47 2,765 3,466 7,489 10,660 6,830 7,346 10,679 Commercial banks 2,736 2,020 2,686 3,121 3,043 6,085 7,942 19,543 Private nonguaranteed 1,497 1,447 19,019 60,015 68,326 82,400 129,786 171,497 of which: Bonds 0 0 930 1,037 2,231 1,776 7,445 8,824 Interest payments 5,125 9,299 14,874 19,740 23,357 29,795 39,617 54,191 Public and publicly guaranteed 4,683 8,868 10,131 12,958 13,375 13,971 14,370 16,361 Official creditors 1,897 4,311 3,657 4,369 4,303 3,695 2,708 2,733 Multilateral 980 1,176 1,690 1,221 1,482 1,651 1,947 1,959 of which: IBRD 703 724 1,202 796 908 1,135 1,306 1,179 IDA 1 3 19 42 45 47 50 54 Bilateral 917 3,135 1,968 3,148 2,822 2,045 761 773 Private creditors 2,786 4,557 6,473 8,589 9,072 10,275 11,662 13,629 of which: Bonds 398 1,994 4,672 6,876 7,237 7,678 8,772 10,243 Commercial banks 2,069 1,449 1,286 1,377 1,541 2,347 2,672 3,204 Private nonguaranteed 441 431 4,743 6,781 9,982 15,825 25,246 37,829 of which: Bonds 1 13 505 1,336 2,859 4,780 7,252 8,107 8. Debt stock-flow reconciliation Total change in external debt stocks 13,652 15,554 9,764 81,719 72,665 180,674 349,341 .. 200 Non-debt flows (bill US$) Net flows on external debt 3,682 14,553 200 20,354 62,109 Debt 85,777 ratios155,952 (%) 302,481 185,543 Cross-currency valuation 5,808 5,746 -8,252 7,824 -16,385 9,218 11,647 .. 9. Debt restructurings Total amount rescheduled 150 3,559 10,047 29,177 150 3,189 596 1,357 39 .. Total amount forgiven 232 0 12 24 109 105 26 .. Debt buyback 882 30 943 0 0 0 0 .. 100 100 50 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 29 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 422,614 598,197 733,397 801,914 735,656 731,225 839,148 894,367 Long-term external debt 333,139 449,176 613,717 662,418 619,451 624,744 683,915 735,073 Public and publicly guaranteed 308,394 361,873 371,995 452,625 405,606 388,696 398,343 411,812 Private nonguaranteed 24,745 87,303 241,722 209,793 213,845 236,049 285,572 323,261 Use of IMF credit 17,968 26,632 8,846 43,307 13,122 737 804 824 Short-term external debt 71,507 122,389 110,834 96,189 103,084 105,744 154,429 158,470 interest arrears on long-term 23,742 9,836 1,542 17,738 8,900 8,320 9,756 10,360 Memorandum items Principal arrears on long-term 22,929 14,770 2,660 27,014 12,361 13,148 15,365 17,757 Long-term public sector debt 305,316 360,064 369,146 450,172 403,376 386,599 396,195 409,112 Long-term private sector debt 27,848 89,137 244,590 212,246 216,090 238,176 287,720 325,961 Public & publicly guaranteed commitments 24,928 49,539 57,809 47,048 53,000 49,704 52,256 59,325 External debt flows Disbursements 31,188 88,923 113,806 106,324 105,719 132,112 150,127 163,444 Long-term external debt 26,455 73,151 110,297 102,097 105,127 131,548 149,877 163,231 IMF purchases 4,733 15,772 3,510 4,228 593 564 249 213 Principal repayments 18,942 41,136 121,366 114,791 121,299 149,423 105,205 108,871 Long-term external debt 15,291 38,304 107,129 104,307 93,126 136,740 104,985 108,698 IMF repurchases 3,651 2,832 14,237 10,484 28,172 12,683 220 173 Net flows 19,878 62,178 -8,476 -5,515 153 -14,071 92,171 58,010 Long-term external debt 11,163 34,847 3,168 -2,210 12,000 -5,193 44,893 54,532 Short-term external debt 7,633 14,392 -917 2,951 15,732 3,241 47,249 3,437 Interest payments 20,919 35,269 53,773 39,804 40,199 45,628 47,699 46,433 Long-term external debt 17,123 27,775 46,257 34,108 34,140 40,469 41,328 41,476 IMF charges 1,435 1,100 777 1,881 1,732 330 35 26 Short-term external debt 2,362 6,393 6,739 3,816 4,327 4,828 6,336 4,931 2. Other non-debt resource flows Foreign direct investment (net) 8,121 30,202 79,491 65,730 71,855 72,045 109,394 125,009 Portfolio equity flows 2,464 5,216 -561 -585 12,209 11,274 29,582 -9,674 Profit remittances on FDI 7,323 14,909 22,729 37,085 53,151 76,692 89,920 94,342 of which: Debt forgiveness grants .. .. 200 3,199 2,273 9,550 8,250 342 IDA grants .. .. .. 0 24 24 32 30 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.0 9.6 10.8 11.1 9.8 Japanese yen 6.2 8.3 6.4 4.5 3.4 3.0 2.8 3.2 Pound sterling 1.4 1.1 0.6 0.3 0.2 0.2 0.1 0.1 Swiss franc 0.9 0.6 0.3 0.2 0.1 0.1 0.1 0.1 U.S.dollars 61.9 63.4 74.6 78.3 82.2 81.7 82.6 84.0 4. Average terms of new commitments Official creditors Interest (%) 6.9 7.6 5.7 3.4 4.3 5.4 5.1 3.5 Maturity (years) 18.4 14.2 13.0 16.0 18.1 18.9 18.3 21.2 Grace period (years) 5.0 4.0 2.7 4.6 5.0 5.2 5.3 5.6 Private creditors Interest (%) 9.1 6.8 9.4 6.5 7.3 6.2 7.1 6.6 Maturity (years) 11.0 4.1 14.1 13.6 14.5 14.9 16.5 16.0 Grace period (years) 5.2 2.9 13.2 11.7 12.0 12.6 12.8 11.4 5. Major economic aggregates Gross national income (GNI) 1,050,470 1,697,404 1,961,183 2,091,480 2,547,320 2,999,990 3,519,682 4,105,181 Exports of goods, services & income 182,295 301,373 460,946 595,270 713,881 854,467 970,993 1,106,566 Worker remit. & comp. of employees 5,721 13,335 19,987 43,320 50,118 59,197 63,099 64,715 Imports of goods & services 189,189 343,892 512,664 578,944 685,735 818,309 967,259 1,145,343 International reserves 58,057 138,616 158,413 222,954 257,309 312,791 450,589 495,799 6. Ratios External debt stocks to exports (%) 231.8 198.5 159.1 134.7 103.1 85.6 86.4 80.8 External debt stocks to GNI (%) 40.2 35.2 37.4 38.3 28.9 24.4 23.8 21.8 Debt service to exports (%) 21.9 25.4 38.0 26.0 22.6 22.8 15.7 14.0 Short-term to external debt stocks (%) 16.9 20.5 15.1 12.0 14.0 14.5 18.4 17.7 Multilateral to external debt stocks (%) 12.4 11.1 11.6 12.7 13.4 12.4 10.6 10.7 Reserves to external debt stocks (%) 13.7 23.2 21.6 27.8 35.0 42.8 53.7 55.4 Reserves to imports (months) 3.7 4.8 3.7 4.6 4.5 4.6 5.6 5.2 30 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 333,139 449,176 613,717 662,418 619,451 624,744 683,915 735,073 Public and publicly guaranteed 308,394 361,873 371,995 452,625 405,606 388,696 398,343 411,812 Official creditors 109,840 151,211 131,915 139,520 129,227 117,914 114,612 123,885 Multilateral 52,516 66,565 85,408 101,666 98,712 90,511 89,280 95,431 of which: IBRD 34,683 36,299 37,429 36,408 34,958 31,528 31,534 33,857 IDA 1,117 2,186 3,387 5,136 5,049 1,529 1,692 1,778 Bilateral 57,324 84,646 46,507 37,855 30,515 27,404 25,332 28,454 Private creditors 198,554 210,662 240,080 313,104 276,378 270,781 283,731 287,926 of which: Bonds 75,572 165,105 206,062 249,235 211,501 202,172 204,295 197,743 Commercial banks 99,925 33,752 25,998 59,009 60,616 65,379 75,649 86,159 Private nonguaranteed 24,745 87,303 241,722 209,793 213,845 236,049 285,572 323,261 of which: Bonds 171 33,829 60,325 69,833 74,487 80,608 96,010 80,983 Disbursements 26,455 73,151 110,297 102,097 105,127 131,548 149,877 163,231 Public and publicly guaranteed 21,757 45,621 52,394 53,607 53,662 48,101 44,121 62,764 Official creditors 12,313 22,820 14,389 12,311 11,582 15,117 13,280 18,787 Multilateral 8,142 9,055 11,608 10,196 9,172 13,226 11,730 15,352 of which: IBRD 6,114 4,624 5,595 4,333 3,550 5,570 3,067 5,679 IDA 119 277 202 391 306 178 129 114 Bilateral 4,171 13,765 2,781 2,114 2,410 1,891 1,550 3,435 Private creditors 9,444 22,801 38,005 41,297 42,080 32,984 30,840 43,976 of which: Bonds 1,938 13,654 33,480 24,214 27,337 20,024 15,993 20,482 Commercial banks 4,652 7,428 3,787 16,283 14,192 12,345 14,503 22,335 Private nonguaranteed 4,698 27,530 57,903 48,489 51,464 83,447 105,757 100,467 of which: Bonds 171 7,412 8,312 11,623 15,066 17,459 26,341 8,440 Principal repayments 15,291 38,304 107,129 104,307 93,126 136,740 104,985 108,698 Public and publicly guaranteed 13,120 25,608 49,105 43,422 42,694 78,197 46,952 46,657 Official creditors 5,357 13,117 14,358 14,822 15,538 23,815 15,126 12,090 Multilateral 3,729 7,088 8,939 10,397 9,901 18,564 10,139 9,806 of which: IBRD 3,297 4,974 3,798 5,629 4,561 9,143 3,311 3,407 IDA 9 21 18 67 39 47 22 12 Bilateral 1,628 6,029 5,419 4,424 5,638 5,251 4,986 2,284 Private creditors 7,763 12,491 34,747 28,601 27,156 54,382 31,827 34,567 of which: Bonds 1,912 5,833 26,575 15,786 16,203 40,855 21,262 23,812 Commercial banks 3,527 4,049 6,691 11,914 10,167 12,362 9,774 10,105 Private nonguaranteed 2,171 12,696 58,024 60,884 50,432 58,544 58,032 62,041 of which: Bonds 0 3,922 8,849 20,175 10,583 13,165 12,763 9,126 Interest payments 17,123 27,775 46,257 34,108 34,140 40,469 41,328 41,476 Public and publicly guaranteed 14,888 21,946 28,232 22,152 23,987 24,452 24,985 23,321 Official creditors 4,766 8,340 7,999 5,423 5,402 5,750 5,678 5,147 Multilateral 3,497 4,404 5,870 4,166 4,279 4,754 4,715 4,358 of which: IBRD 2,533 2,651 2,801 1,471 1,507 1,813 1,781 1,545 IDA 8 23 17 46 37 25 13 11 Bilateral 1,270 3,937 2,129 1,256 1,123 996 963 789 Private creditors 10,122 13,605 20,233 16,729 18,585 18,701 19,307 18,174 of which: Bonds 2,365 11,254 16,556 13,588 15,242 15,113 14,792 13,928 Commercial banks 6,605 1,542 2,881 2,923 3,142 3,407 4,204 3,953 Private nonguaranteed 2,235 5,829 18,024 11,956 10,153 16,018 16,343 18,155 of which: Bonds 0 2,597 5,185 5,700 4,487 7,481 7,095 6,226 8. Debt stock-flow reconciliation Total change in external debt stocks 18,379 64,070 -17,856 1,516 -66,257 -4,431 107,923 .. 200 Non-debt flows (bill US$) Net flows on external debt 19,878 62,178 200 -8,476 -5,515 (%) Debt ratios-14,071 153 92,171 50,478 Cross-currency valuation 10,256 1,799 -9,367 9,571 -13,352 2,733 9,563 .. 9. Debt restructurings Total amount rescheduled 150 62,158 7,914 5,225 150 595 25,998 2,336 1,135 .. Total amount forgiven 173 534 98 554 810 350 1,223 .. Debt buyback 1,980 102 15,851 1,110 736 5,450 2,696 .. 100 100 50 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 31 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 119,474 139,821 116,683 147,810 139,340 130,189 141,397 131,545 Long-term external debt 100,500 124,210 99,688 124,778 116,850 108,963 117,542 111,315 Public and publicly guaranteed 99,300 123,516 96,517 118,756 110,819 103,428 111,434 105,449 Private nonguaranteed 1,200 694 3,170 6,022 6,031 5,535 6,108 5,866 Use of IMF credit 1,815 2,177 2,542 1,378 547 423 353 258 Short-term external debt 17,159 13,434 14,453 21,654 21,942 20,803 23,502 19,972 interest arrears on long-term 2,417 660 258 136 105 111 114 113 Memorandum items Principal arrears on long-term 7,320 2,977 1,149 329 244 210 227 197 Long-term public sector debt 98,918 122,895 95,352 116,770 108,680 101,089 108,619 102,637 Long-term private sector debt 1,583 1,315 4,336 8,008 8,170 7,874 8,923 8,678 Public & publicly guaranteed commitments 14,679 11,807 10,019 16,116 12,969 11,620 10,935 7,890 External debt flows Disbursements 13,013 11,250 9,097 14,060 14,335 11,644 14,255 11,327 Long-term external debt 12,948 10,660 9,073 14,060 14,335 11,644 14,177 11,281 IMF purchases 65 590 24 0 0 0 78 46 Principal repayments 11,015 11,349 10,687 14,927 14,506 24,277 13,649 15,690 Long-term external debt 10,618 10,960 10,450 14,416 13,761 24,127 13,484 15,555 IMF repurchases 397 390 238 511 745 150 166 135 Net flows 3,425 3,163 -2,312 2,571 149 -13,777 3,301 -7,893 Long-term external debt 2,329 -299 -1,376 -356 575 -12,483 694 -4,274 Short-term external debt 1,428 3,262 -722 3,438 320 -1,144 2,695 -3,529 Interest payments 5,650 7,179 5,608 5,580 5,833 5,767 5,692 5,388 Long-term external debt 4,359 6,236 4,749 4,717 4,648 4,600 4,648 4,720 IMF charges 180 112 130 35 32 14 12 7 Short-term external debt 1,111 831 729 828 1,153 1,152 1,032 660 2. Other non-debt resource flows Foreign direct investment (net) 527 806 4,474 6,767 13,835 24,915 25,033 26,117 Portfolio equity flows 5 32 253 705 2,410 963 -2,096 402 Profit remittances on FDI 614 941 1,689 2,790 3,908 4,084 4,729 5,476 of which: Debt forgiveness grants .. .. 583 456 14,360 3,766 5,319 211 IDA grants .. .. .. 3 5 5 3 32 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 33.6 31.1 33.3 35.3 33.4 Japanese yen 8.2 10.5 12.1 10.3 8.8 7.9 7.5 9.5 Pound sterling 1.8 1.1 0.9 1.8 1.5 1.5 1.4 0.5 Swiss franc 1.2 1.0 1.1 1.6 1.4 1.3 1.2 1.1 U.S.dollars 37.9 36.9 44.2 40.9 45.1 43.6 41.4 41.4 4. Average terms of new commitments Official creditors Interest (%) 5.6 5.3 4.6 2.9 3.6 3.7 3.4 3.5 Maturity (years) 21.5 18.2 19.6 18.8 19.3 22.1 20.0 20.8 Grace period (years) 6.3 5.1 5.6 5.0 5.4 6.8 5.9 5.4 Private creditors Interest (%) 8.9 7.0 7.2 5.8 5.6 6.8 6.1 8.6 Maturity (years) 7.5 9.3 8.0 7.5 8.0 10.9 8.2 5.8 Grace period (years) 2.3 3.6 4.5 4.8 6.0 7.8 6.1 5.6 5. Major economic aggregates Gross national income (GNI) 210,370 261,479 343,973 449,072 511,692 589,996 721,002 872,674 Exports of goods, services & income 80,916 94,256 122,832 185,747 219,167 263,085 326,215 394,449 Worker remit. & comp. of employees 11,008 12,354 11,850 21,714 22,824 24,330 29,891 33,197 Imports of goods & services 80,760 84,394 98,102 140,730 162,648 185,675 235,088 289,532 International reserves 15,412 37,939 49,127 108,709 130,432 169,057 216,346 259,526 6. Ratios External debt stocks to exports (%) 147.7 148.3 95.0 79.6 63.6 49.5 43.3 33.3 External debt stocks to GNI (%) 56.8 53.5 33.9 32.9 27.2 22.1 19.6 15.1 Debt service to exports (%) 20.6 19.7 13.3 11.0 9.3 11.4 5.9 5.3 Short-term to external debt stocks (%) 14.4 9.6 12.4 14.6 15.7 16.0 16.6 15.2 Multilateral to external debt stocks (%) 12.2 15.6 19.1 17.2 17.2 18.1 20.0 21.8 Reserves to external debt stocks (%) 12.9 27.1 42.1 73.5 93.6 129.9 153.0 197.3 Reserves to imports (months) 2.3 5.4 6.0 9.3 9.6 10.9 11.0 10.8 32 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 100,500 124,210 99,688 124,778 116,850 108,963 117,542 111,315 Public and publicly guaranteed 99,300 123,516 96,517 118,756 110,819 103,428 111,434 105,449 Official creditors 56,863 89,370 72,261 78,669 70,420 62,990 69,276 67,207 Multilateral 14,552 21,812 22,250 25,389 23,964 23,622 28,313 28,676 of which: IBRD 7,769 10,218 7,639 7,434 6,757 6,144 7,447 7,123 IDA 1,730 2,061 2,655 3,392 3,322 3,595 3,776 3,784 Bilateral 42,311 67,558 50,011 53,279 46,456 39,368 40,963 38,530 Private creditors 42,437 34,146 24,256 40,087 40,399 40,439 42,158 38,243 of which: Bonds 1,683 2,036 7,375 20,422 22,142 23,179 24,579 23,907 Commercial banks 13,623 10,340 8,380 8,859 8,949 8,510 9,402 7,982 Private nonguaranteed 1,200 694 3,170 6,022 6,031 5,535 6,108 5,866 of which: Bonds 0 50 836 746 1,011 805 1,280 1,220 Disbursements 12,948 10,660 9,073 14,060 14,335 11,644 14,177 11,281 Public and publicly guaranteed 12,889 10,508 8,093 13,336 12,545 10,617 12,645 9,393 Official creditors 5,529 5,688 3,239 4,090 4,912 4,592 6,500 5,742 Multilateral 2,329 3,380 1,835 2,662 3,501 3,159 5,127 3,361 of which: IBRD 1,154 1,455 532 439 895 739 1,723 684 IDA 37 128 118 177 202 225 145 126 Bilateral 3,201 2,309 1,404 1,428 1,411 1,433 1,373 2,381 Private creditors 7,359 4,820 4,854 9,246 7,634 6,024 6,145 3,651 of which: Bonds 0 888 2,031 5,754 4,144 3,799 3,635 2,257 Commercial banks 732 874 1,082 1,420 2,312 1,664 2,118 1,053 Private nonguaranteed 59 153 981 725 1,790 1,028 1,533 1,888 of which: Bonds 0 50 115 200 530 0 0 0 Principal repayments 10,618 10,960 10,450 14,416 13,761 24,127 13,484 15,555 Public and publicly guaranteed 10,478 10,868 10,245 13,665 12,858 22,335 11,068 13,559 Official creditors 3,182 7,280 5,683 7,116 7,187 15,330 5,044 7,102 Multilateral 1,249 1,978 1,943 3,304 3,267 4,570 2,315 2,329 of which: IBRD 745 1,096 855 1,143 1,030 1,673 771 986 IDA 12 28 43 72 75 80 89 96 Bilateral 1,933 5,303 3,740 3,812 3,920 10,761 2,729 4,773 Private creditors 7,296 3,587 4,562 6,549 5,671 7,005 6,024 6,457 of which: Bonds 76 278 896 2,941 1,883 2,810 2,620 3,021 Commercial banks 1,586 629 1,423 1,581 1,775 2,484 1,949 1,827 Private nonguaranteed 140 92 205 751 903 1,792 2,416 1,997 of which: Bonds 0 0 50 250 265 206 275 60 Interest payments 4,359 6,236 4,749 4,717 4,648 4,600 4,648 4,720 Public and publicly guaranteed 4,265 6,210 4,605 4,543 4,458 4,400 4,424 4,453 Official creditors 2,030 4,184 2,987 2,460 2,328 2,085 1,945 2,025 Multilateral 839 1,324 1,212 963 927 931 980 1,076 of which: IBRD 592 736 545 322 308 296 329 352 IDA 12 15 20 28 28 27 28 30 Bilateral 1,191 2,860 1,775 1,497 1,401 1,154 964 949 Private creditors 2,235 2,027 1,618 2,083 2,130 2,315 2,479 2,428 of which: Bonds 124 88 458 1,352 1,366 1,499 1,591 1,623 Commercial banks 720 616 568 295 332 408 452 422 Private nonguaranteed 94 26 144 175 191 201 224 267 of which: Bonds 0 0 69 69 90 74 116 99 8. Debt stock-flow reconciliation Total change in external debt stocks -3,209 6,170 -9,139 9,540 -8,470 -9,151 11,208 .. 30 Non-debt flows (bill US$) Net flows on external debt 3,425 3,163 200 -2,312 2,571 (%) Debt ratios-13,777 149 3,301 -978 Cross-currency valuation 5,135 2,107 -3,923 3,696 -7,483 4,209 5,782 .. 9. Debt restructurings Total amount rescheduled 4,565 8,947 342 150 294 286 224 214 .. Total amount forgiven 20 10,614 357 179 115 67 123 7 .. Debt buyback 0 0 85 0 0 0 0 .. 100 10 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 33 SOUTH ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 126,429 152,409 161,198 193,695 187,822 217,084 288,517 326,311 Long-term external debt 109,412 138,071 153,229 181,735 173,771 201,269 242,567 269,665 Public and publicly guaranteed 107,685 129,770 134,715 129,059 115,885 126,775 144,174 158,527 Private nonguaranteed 1,727 8,301 18,514 52,676 57,886 74,494 98,392 111,139 Use of IMF credit 4,686 5,293 1,918 2,423 2,208 2,232 2,277 5,374 Short-term external debt 12,331 9,045 6,051 9,537 11,842 13,583 43,674 51,271 interest arrears on long-term 17 53 112 0 21 18 34 29 Memorandum items Principal arrears on long-term 34 65 221 0 13 153 318 248 Long-term public sector debt 106,914 129,096 133,942 128,645 115,696 126,613 144,024 158,323 Long-term private sector debt 2,498 8,975 19,287 53,090 58,076 74,655 98,542 111,343 Public & publicly guaranteed commitments 13,939 8,435 12,956 8,308 9,449 10,605 23,901 13,189 External debt flows Disbursements 12,009 12,077 14,225 21,331 24,469 38,323 70,876 49,617 Long-term external debt 10,165 11,875 14,030 20,917 24,213 38,152 70,788 46,174 IMF purchases 1,844 202 195 414 256 171 88 3,443 Principal repayments 5,227 11,627 9,825 17,718 22,073 15,152 35,093 27,440 Long-term external debt 4,085 9,622 9,342 17,035 21,798 14,891 34,936 27,172 IMF repurchases 1,142 2,006 483 683 275 261 157 268 Net flows 8,331 2,487 3,461 4,289 4,680 24,915 65,858 29,778 Long-term external debt 6,080 2,254 4,688 3,882 2,415 23,260 35,852 19,002 Short-term external debt 1,550 2,037 -938 676 2,284 1,744 30,075 7,602 Interest payments 6,031 6,533 5,666 5,643 5,665 6,398 8,643 9,171 Long-term external debt 4,582 5,674 5,284 5,339 5,194 5,733 6,908 7,330 IMF charges 247 234 58 30 26 26 23 23 Short-term external debt 1,202 624 323 275 446 639 1,711 1,818 2. Other non-debt resource flows Foreign direct investment (net) 542 2,931 4,358 7,589 10,914 26,041 32,315 48,678 Portfolio equity flows 1 1,585 2,381 9,007 12,406 10,388 36,093 -15,778 Profit remittances on FDI 93 392 721 5,388 7,979 11,542 14,851 14,542 of which: Debt forgiveness grants .. .. 464 627 161 592 390 884 IDA grants .. .. .. 4 69 207 407 259 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.9 7.2 7.3 7.0 6.0 Japanese yen 12.6 17.1 15.3 19.0 19.1 18.4 17.2 19.8 Pound sterling 5.0 3.6 2.8 2.3 2.2 1.9 1.5 1.3 Swiss franc 0.6 0.7 0.3 0.3 0.3 0.2 0.2 0.2 U.S.dollars 53.4 45.9 56.6 54.7 54.5 55.6 56.8 55.3 4. Average terms of new commitments Official creditors Interest (%) 3.7 3.7 5.0 1.7 2.1 3.1 4.2 1.6 Maturity (years) 28.9 25.8 23.4 29.0 27.6 26.2 23.7 27.4 Grace period (years) 8.1 7.7 6.4 7.6 7.8 6.2 6.2 7.0 Private creditors Interest (%) 6.8 5.8 4.3 3.9 5.2 4.8 6.5 3.1 Maturity (years) 14.9 6.0 5.4 6.6 5.4 14.0 8.8 9.9 Grace period (years) 7.1 3.9 4.6 4.8 4.3 9.7 4.0 3.4 5. Major economic aggregates Gross national income (GNI) 400,537 473,560 603,639 890,688 1,019,937 1,150,535 1,444,436 1,535,244 Exports of goods, services & income 41,150 71,062 105,843 185,068 235,280 290,611 354,090 436,829 Worker remit. & comp. of employees 5,572 10,005 17,212 28,694 33,924 42,523 54,041 71,652 Imports of goods & services 53,492 86,693 116,954 192,498 258,918 316,030 383,023 497,834 International reserves 8,258 30,704 47,221 149,907 156,714 198,524 302,315 275,950 6. Ratios External debt stocks to exports (%) 307.2 214.5 152.3 104.7 79.8 74.7 81.5 74.7 External debt stocks to GNI (%) 31.6 32.2 26.7 21.7 18.4 18.9 20.0 21.3 Debt service to exports (%) 27.4 25.6 14.6 12.6 11.8 7.4 12.4 8.4 Short-term to external debt stocks (%) 9.8 5.9 3.8 4.9 6.3 6.3 15.1 15.7 Multilateral to external debt stocks (%) 30.4 37.3 37.9 36.3 36.8 35.0 29.0 27.6 Reserves to external debt stocks (%) 6.5 20.1 29.3 77.4 83.4 91.5 104.8 84.6 Reserves to imports (months) 1.9 4.3 4.8 9.3 7.3 7.5 9.5 6.7 34 SOUTH ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 109,412 138,071 153,229 181,735 173,771 201,269 242,567 269,665 Public and publicly guaranteed 107,685 129,770 134,715 129,059 115,885 126,775 144,174 158,527 Official creditors 82,972 104,167 101,812 114,813 108,608 116,202 127,009 138,404 Multilateral 38,396 56,879 61,033 70,326 69,030 75,909 83,639 90,090 of which: IBRD 9,646 13,035 10,209 7,123 7,514 8,151 8,766 9,376 IDA 21,381 29,001 31,963 43,214 41,900 45,803 48,975 49,589 Bilateral 44,577 47,288 40,778 44,487 39,579 40,293 43,370 48,314 Private creditors 24,712 25,602 32,904 14,246 7,277 10,573 17,166 20,123 of which: Bonds 2,785 3,474 10,928 8,987 2,525 4,178 7,579 9,601 Commercial banks 16,927 14,176 19,674 4,123 3,797 5,485 8,430 9,235 Private nonguaranteed 1,727 8,301 18,514 52,676 57,886 74,494 98,392 111,139 of which: Bonds 0 1,065 1,560 3,059 6,461 11,204 16,277 15,713 Disbursements 10,165 11,875 14,030 20,917 24,213 38,152 70,788 46,174 Public and publicly guaranteed 9,913 9,941 13,444 12,317 10,862 13,816 22,203 25,087 Official creditors 6,864 6,392 6,151 6,956 7,263 8,164 9,611 11,936 Multilateral 4,389 3,975 4,348 5,076 5,621 6,250 7,295 8,608 of which: IBRD 1,576 860 866 1,005 1,081 1,134 1,178 1,176 IDA 1,545 1,374 1,655 2,644 2,625 2,452 2,572 2,151 Bilateral 2,475 2,418 1,804 1,880 1,642 1,914 2,316 3,328 Private creditors 3,049 3,549 7,293 5,361 3,599 5,652 12,592 13,151 of which: Bonds 416 85 5,520 4,315 2,314 3,252 8,339 11,507 Commercial banks 2,071 1,901 942 973 1,242 2,369 3,984 1,392 Private nonguaranteed 252 1,934 586 8,600 13,351 24,336 48,585 21,087 of which: Bonds 0 520 0 2,164 3,520 4,799 7,793 594 Principal repayments 4,085 9,622 9,342 17,035 21,798 14,891 34,936 27,172 Public and publicly guaranteed 3,726 9,124 8,634 11,352 14,504 6,995 11,363 16,415 Official creditors 2,367 5,773 5,367 7,164 4,458 4,625 4,792 5,601 Multilateral 1,009 2,227 2,827 4,363 2,162 2,484 2,521 3,096 of which: IBRD 553 1,173 1,231 568 523 543 631 687 IDA 151 318 548 874 947 1,069 1,119 1,230 Bilateral 1,358 3,546 2,540 2,801 2,296 2,141 2,270 2,504 Private creditors 1,359 3,351 3,268 4,188 10,046 2,369 6,571 10,815 of which: Bonds 279 320 50 2,524 8,565 1,597 5,313 9,533 Commercial banks 369 2,002 2,869 1,303 1,293 694 1,208 1,153 Private nonguaranteed 359 498 707 5,684 7,294 7,897 23,573 10,757 of which: Bonds 0 0 35 83 117 57 409 880 Interest payments 4,582 5,674 5,284 5,339 5,194 5,733 6,908 7,330 Public and publicly guaranteed 4,434 5,012 4,403 2,401 3,928 2,408 2,723 2,910 Official creditors 2,171 2,938 2,273 1,860 1,889 2,041 2,235 2,286 Multilateral 1,064 1,640 1,366 805 895 1,133 1,328 1,376 of which: IBRD 752 995 613 177 252 387 470 401 IDA 149 215 236 329 339 343 358 390 Bilateral 1,107 1,299 906 1,055 995 908 907 910 Private creditors 2,263 2,073 2,130 542 2,038 367 488 624 of which: Bonds 180 196 210 345 1,849 154 211 271 Commercial banks 1,803 1,317 1,812 172 173 202 261 321 Private nonguaranteed 148 663 881 2,937 1,266 3,325 4,185 4,419 of which: Bonds 0 58 227 92 151 276 404 345 8. Debt stock-flow reconciliation Total change in external debt stocks 14,604 -726 -1,643 6,883 -5,873 28,563 71,433 .. 75 Non-debt flows (bill US$) Net flows on external debt 8,331 2,487 200 3,461 4,289 Debt ratios (%) 4,680 24,915 65,858 25,839 Cross-currency valuation 2,936 -4,427 -7,794 3,241 -10,447 3,470 4,888 .. 9. Debt restructurings Total amount rescheduled 0 0 918 150 0 265 95 842 .. Total amount forgiven 50 0 7 9 146 2 83 168 .. Debt buyback 0 0 0 0 0 0 0 .. 100 25 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 35 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 176,591 236,070 211,379 237,121 214,677 171,336 189,308 195,699 Long-term external debt 149,295 186,912 173,085 198,122 177,804 126,865 141,260 143,375 Public and publicly guaranteed 144,031 175,152 161,737 189,280 169,156 117,591 124,885 129,079 Private nonguaranteed 5,264 11,760 11,348 8,843 8,648 9,274 16,375 14,295 Use of IMF credit 6,606 8,654 6,734 7,238 5,947 3,140 3,341 3,963 Short-term external debt 20,690 40,504 31,560 31,760 30,925 41,331 44,707 48,361 interest arrears on long-term 9,523 20,734 13,568 18,087 14,245 15,218 14,534 13,506 Memorandum items Principal arrears on long-term 17,760 41,062 25,528 26,906 23,981 24,775 22,935 21,911 Long-term public sector debt 143,844 175,026 160,830 189,000 169,058 117,554 124,858 129,059 Long-term private sector debt 5,451 11,886 12,255 9,122 8,746 9,311 16,402 14,316 Public & publicly guaranteed commitments 11,448 9,161 8,290 14,791 22,672 10,590 18,040 16,447 External debt flows Disbursements 10,305 14,015 10,087 13,037 15,856 12,913 23,940 14,525 Long-term external debt 9,645 11,021 9,562 12,375 15,534 12,615 23,586 13,113 IMF purchases 660 2,994 525 662 323 298 354 1,413 Principal repayments 5,568 9,417 9,017 8,085 12,142 17,384 13,549 8,690 Long-term external debt 4,620 7,046 8,557 7,294 11,395 17,027 13,252 8,003 IMF repurchases 947 2,371 460 790 747 357 296 687 Net flows 6,994 7,514 -1,796 6,298 6,722 4,962 14,452 10,517 Long-term external debt 5,025 3,974 1,005 5,081 4,139 -4,411 10,334 5,110 Short-term external debt 2,257 2,917 -2,866 1,345 3,007 9,432 4,060 4,682 Interest payments 5,287 5,336 4,442 3,119 7,959 4,333 5,231 4,933 Long-term external debt 4,349 3,974 3,318 2,679 7,322 3,453 4,054 3,514 IMF charges 238 559 43 30 27 39 14 494 Short-term external debt 701 803 1,082 410 610 841 1,163 926 2. Other non-debt resource flows Foreign direct investment (net) 1,199 4,393 6,681 9,954 18,550 20,734 27,928 33,103 Portfolio equity flows 393 2,954 4,164 6,685 8,121 16,805 10,147 -9,346 Profit remittances on FDI 2,861 3,952 7,858 13,385 17,209 25,727 37,939 40,012 of which: Debt forgiveness grants .. .. 3,095 9,163 19,601 93,006 9,472 3,097 IDA grants .. .. .. 979 831 888 1,361 1,641 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 23.8 19.6 22.4 21.4 19.1 Japanese yen 4.1 5.5 4.1 4.9 3.6 3.1 2.7 3.8 Pound sterling 5.5 3.8 2.1 4.9 4.1 1.6 1.4 1.0 Swiss franc 2.3 2.1 1.5 2.1 1.9 2.5 2.5 2.6 U.S.dollars 36.6 40.8 61.4 50.1 55.2 52.5 52.6 54.1 4. Average terms of new commitments Official creditors Interest (%) 3.5 1.8 1.1 1.9 4.6 1.5 1.4 1.6 Maturity (years) 28.4 31.7 36.5 28.1 21.6 29.5 31.4 31.6 Grace period (years) 7.7 8.7 9.1 6.6 4.4 7.2 7.9 8.3 Private creditors Interest (%) 8.1 5.7 5.8 3.4 5.6 6.9 6.7 4.1 Maturity (years) 11.6 12.4 7.7 7.1 6.4 8.9 8.3 8.1 Grace period (years) 2.7 1.9 2.1 2.9 1.9 5.7 5.3 1.2 5. Major economic aggregates Gross national income (GNI) 280,255 309,853 320,404 513,257 600,163 705,122 800,683 921,717 Exports of goods, services & income 79,252 92,676 117,041 190,579 239,435 286,299 344,985 407,480 Worker remit. & comp. of employees 1,631 3,177 4,614 8,006 9,361 12,613 18,630 21,122 Imports of goods & services 86,215 111,982 118,496 194,360 238,579 285,193 351,798 424,957 International reserves 15,362 20,652 36,505 62,543 82,495 114,851 141,744 150,347 6. Ratios External debt stocks to exports (%) 222.8 254.7 180.6 124.4 89.7 59.8 54.9 48.0 External debt stocks to GNI (%) 63.0 76.2 66.0 46.2 35.8 24.3 23.6 21.2 Debt service to exports (%) 13.7 15.9 11.5 5.9 8.4 7.6 5.4 3.3 Short-term to external debt stocks (%) 11.7 17.2 14.9 13.4 14.4 24.1 23.6 24.7 Multilateral to external debt stocks (%) 21.6 23.1 25.8 31.6 33.7 25.1 25.2 25.6 Reserves to external debt stocks (%) 8.7 8.7 17.3 26.4 38.4 67.0 74.9 76.8 Reserves to imports (months) 2.1 2.2 3.7 3.9 4.1 4.8 4.8 4.2 36 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 149,295 186,912 173,085 198,122 177,804 126,865 141,260 143,375 Public and publicly guaranteed 144,031 175,152 161,737 189,280 169,156 117,591 124,885 129,079 Official creditors 108,400 138,602 135,711 157,923 135,324 88,416 93,129 95,711 Multilateral 38,131 54,415 54,539 74,914 72,358 42,953 47,767 50,047 of which: IBRD 9,178 7,641 3,477 2,476 2,015 1,799 1,524 994 IDA 15,718 27,842 33,574 49,673 48,444 24,187 27,337 29,329 Bilateral 70,268 84,187 81,172 83,010 62,966 45,464 45,362 45,664 Private creditors 35,631 36,550 26,026 31,356 33,832 29,174 31,756 33,368 of which: Bonds 301 4,784 9,150 8,803 8,575 6,992 9,654 9,429 Commercial banks 13,868 12,577 8,449 16,607 19,764 17,590 18,192 20,182 Private nonguaranteed 5,264 11,760 11,348 8,843 8,648 9,274 16,375 14,295 of which: Bonds 0 350 1,360 0 1,307 1,484 6,890 6,231 Disbursements 9,645 11,021 9,562 12,375 15,534 12,615 23,586 13,113 Public and publicly guaranteed 9,015 10,274 7,444 10,513 12,274 9,440 16,201 12,198 Official creditors 7,117 5,883 4,126 6,181 5,906 6,091 7,524 7,785 Multilateral 4,543 4,206 3,352 4,810 4,746 4,522 4,952 4,979 of which: IBRD 813 274 75 33 14 1 31 45 IDA 2,025 2,390 2,193 3,036 2,943 2,749 2,987 2,898 Bilateral 2,574 1,678 773 1,371 1,160 1,569 2,573 2,806 Private creditors 1,898 4,390 3,318 4,332 6,368 3,349 8,677 4,413 of which: Bonds 0 541 765 1,000 0 2,076 3,525 0 Commercial banks 378 1,623 1,752 3,061 6,087 831 4,896 4,087 Private nonguaranteed 630 747 2,119 1,862 3,260 3,175 7,385 914 of which: Bonds 0 350 712 0 1,307 0 5,762 0 Principal repayments 4,620 7,046 8,557 7,294 11,395 17,027 13,252 8,003 Public and publicly guaranteed 4,155 5,807 7,160 6,269 10,688 14,521 11,257 6,144 Official creditors 2,541 2,976 3,441 3,787 6,596 8,487 5,228 3,523 Multilateral 1,343 2,017 1,630 1,468 1,550 1,812 1,806 2,070 of which: IBRD 721 1,056 552 339 286 284 406 620 IDA 51 120 225 249 248 503 277 546 Bilateral 1,197 960 1,811 2,318 5,045 6,676 3,422 1,453 Private creditors 1,614 2,831 3,719 2,483 4,093 6,034 6,028 2,622 of which: Bonds 31 40 480 370 1 1,742 1,222 52 Commercial banks 997 1,261 2,444 1,512 3,527 3,168 3,858 2,132 Private nonguaranteed 466 1,240 1,398 1,025 706 2,505 1,996 1,859 of which: Bonds 0 0 0 0 0 0 1,390 698 Interest payments 4,349 3,974 3,318 2,679 7,322 3,453 4,054 3,514 Public and publicly guaranteed 4,018 3,470 2,913 2,493 6,970 3,016 3,506 2,942 Official creditors 2,697 2,007 1,824 1,577 5,855 1,440 2,070 1,570 Multilateral 1,105 1,234 842 843 756 724 1,050 910 of which: IBRD 651 630 213 76 53 47 339 109 IDA 97 178 199 317 313 272 188 285 Bilateral 1,591 772 983 733 5,099 716 1,020 660 Private creditors 1,321 1,463 1,089 916 1,116 1,576 1,436 1,372 of which: Bonds 13 322 561 584 517 552 539 677 Commercial banks 615 457 303 149 425 779 752 566 Private nonguaranteed 331 504 405 186 352 437 548 572 of which: Bonds 0 0 41 8 61 89 139 260 8. Debt stock-flow reconciliation Total change in external debt stocks 19,739 14,567 -3,301 8,844 -22,444 -43,341 17,972 .. 50 Non-debt flows (bill US$) Net flows on external debt 6,994 7,514 200 -1,796 6,298 Debt ratios (%) 6,722 4,962 14,452 8,289 Cross-currency valuation 7,662 920 -6,817 6,256 -13,574 -26,585 3,988 .. Debt restructurings 9. 40 Total amount rescheduled 5,987 3,489 22,630 150 3,574 1,221 787 1,078 .. Total amount forgiven 1,583 1,302 539 4,104 8,777 15,336 1,797 .. Debt buyback 30 0 29 137 0 0 0 3,322 .. 100 20 50 10 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 37 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 137,412 167,801 151,620 176,591 168,099 142,562 158,749 168,325 Long-term external debt 120,029 144,603 130,515 155,164 147,658 122,086 134,487 143,169 Public and publicly guaranteed 118,587 141,776 127,173 152,210 144,734 118,500 129,666 137,779 Private nonguaranteed 1,443 2,827 3,342 2,954 2,924 3,587 4,821 5,390 Use of IMF credit 5,763 7,642 6,623 7,222 6,075 3,532 3,804 4,623 Short-term external debt 11,620 15,555 14,482 14,205 14,366 16,943 20,457 20,533 interest arrears on long-term 5,316 10,733 7,955 7,222 7,354 7,856 7,803 6,850 Memorandum items Principal arrears on long-term 11,416 30,430 17,691 16,260 15,503 16,174 16,795 16,237 Long-term public sector debt 117,979 141,145 126,707 151,972 144,562 118,431 129,556 137,686 Long-term private sector debt 2,075 3,484 3,828 3,192 3,111 3,686 4,932 5,483 Public & publicly guaranteed commitments 8,874 8,932 7,329 10,865 10,047 10,048 12,782 14,915 External debt flows Disbursements 7,707 10,684 7,226 10,245 10,016 9,355 12,259 13,694 Long-term external debt 7,153 7,558 6,749 9,453 9,553 8,869 11,831 12,032 IMF purchases 554 3,127 478 792 462 485 428 1,662 Principal repayments 3,510 6,011 4,810 4,440 4,548 4,342 4,813 5,406 Long-term external debt 2,518 3,725 4,187 3,659 3,805 3,982 4,489 4,682 IMF repurchases 992 2,286 623 781 744 360 325 724 Net flows 5,225 5,231 1,845 6,773 5,496 7,088 11,013 9,317 Long-term external debt 4,635 3,832 2,561 5,794 5,749 4,887 7,343 7,350 Short-term external debt 1,028 558 -571 969 28 2,075 3,567 1,029 Interest payments 2,102 2,490 2,143 1,854 1,968 2,127 2,739 2,952 Long-term external debt 1,483 1,734 1,645 1,608 1,630 1,687 2,219 2,093 IMF charges 222 507 68 33 29 42 17 499 Short-term external debt 397 249 430 213 309 398 504 360 2. Other non-debt resource flows Foreign direct investment (net) 1,089 3,243 4,325 6,236 7,518 11,643 20,902 26,440 Portfolio equity flows 7 -5 3 21 167 1,383 6,394 -591 Profit remittances on FDI 1,015 767 1,599 3,820 5,564 6,404 6,091 5,705 of which: Debt forgiveness grants .. .. 3,193 8,704 6,447 70,275 6,586 2,546 IDA grants .. .. .. 973 878 1,030 1,772 1,617 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.9 8.0 10.0 10.2 9.1 Japanese yen 7.4 10.0 12.0 11.1 10.3 12.4 12.0 14.1 Pound sterling 3.0 2.3 1.9 1.5 1.4 1.1 1.0 0.8 Swiss franc 0.9 0.7 0.5 0.5 0.4 0.5 0.5 0.3 U.S.dollars 31.1 35.6 51.5 54.1 55.2 49.8 48.9 48.4 4. Average terms of new commitments Official creditors Interest (%) 2.0 2.2 1.4 1.2 1.3 1.5 1.5 1.6 Maturity (years) 33.7 32.2 35.8 35.3 34.2 33.3 33.3 33.4 Grace period (years) 8.9 8.9 9.2 9.0 8.6 8.6 8.5 8.7 Private creditors Interest (%) 7.7 5.9 5.6 3.0 6.7 3.6 7.6 2.6 Maturity (years) 12.1 7.2 10.3 12.8 10.5 15.9 11.3 13.9 Grace period (years) 2.3 1.8 3.1 3.7 9.8 4.4 8.8 3.2 5. Major economic aggregates Gross national income (GNI) 173,370 188,018 228,169 299,185 339,435 381,798 449,928 545,867 Exports of goods, services & income .. 47,160 68,799 109,595 130,512 160,101 189,517 236,759 Worker remit. & comp. of employees 3,153 3,524 5,654 13,214 16,097 19,940 24,600 31,567 Imports of goods & services 47,429 67,595 79,545 127,988 151,722 181,929 232,497 295,371 International reserves 5,700 13,193 18,388 36,762 38,647 48,363 63,705 65,224 6. Ratios External debt stocks to exports (%) .. 355.8 220.4 161.1 128.8 89.0 83.8 71.1 External debt stocks to GNI (%) 79.3 89.2 66.5 59.0 49.5 37.3 35.3 30.8 Debt service to exports (%) .. 18.0 10.1 5.7 5.0 4.0 4.0 3.5 Short-term to external debt stocks (%) 8.5 9.3 9.6 8.0 8.5 11.9 12.9 12.2 Multilateral to external debt stocks (%) 26.5 32.8 42.0 52.6 53.9 45.6 46.1 46.6 Reserves to external debt stocks (%) 4.1 7.9 12.1 20.8 23.0 33.9 40.1 38.7 Reserves to imports (months) 1.4 2.3 2.8 3.4 3.1 3.2 3.3 2.6 38 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 120,029 144,603 130,515 155,164 147,658 122,086 134,487 143,169 Public and publicly guaranteed 118,587 141,776 127,173 152,210 144,734 118,500 129,666 137,779 Official creditors 107,937 132,973 118,864 144,856 137,379 111,721 122,306 130,658 Multilateral 36,398 54,978 63,752 92,837 90,664 64,974 73,206 78,503 of which: IBRD 2,767 1,884 971 981 917 938 797 777 IDA 20,739 33,894 41,062 61,638 60,285 38,181 42,930 45,815 Bilateral 71,539 77,996 55,112 52,019 46,715 46,748 49,101 52,155 Private creditors 10,649 8,803 8,309 7,354 7,355 6,778 7,360 7,121 of which: Bonds 301 129 567 548 1,272 1,246 1,970 1,944 Commercial banks 3,130 2,820 3,799 2,474 2,341 2,367 2,451 2,480 Private nonguaranteed 1,443 2,827 3,342 2,954 2,924 3,587 4,821 5,390 of which: Bonds 0 0 250 0 0 0 0 39 Disbursements 7,153 7,558 6,749 9,453 9,553 8,869 11,831 12,032 Public and publicly guaranteed 6,883 7,278 6,627 8,573 8,874 7,907 10,382 11,126 Official creditors 6,055 6,056 6,017 7,942 7,762 7,679 9,430 10,607 Multilateral 4,152 4,473 4,303 6,266 6,322 5,952 7,160 7,401 of which: IBRD 66 194 50 29 25 32 17 15 IDA 2,543 2,543 2,748 4,050 3,794 3,387 4,226 4,122 Bilateral 1,903 1,583 1,714 1,677 1,441 1,726 2,270 3,205 Private creditors 828 1,222 610 630 1,111 228 952 519 of which: Bonds 0 0 0 0 750 0 750 0 Commercial banks 193 610 194 290 194 190 135 230 Private nonguaranteed 270 279 122 880 680 963 1,449 907 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 2,518 3,725 4,187 3,659 3,805 3,982 4,489 4,682 Public and publicly guaranteed 2,393 3,510 3,800 3,221 3,442 3,686 4,083 4,137 Official creditors 1,672 2,614 2,331 2,477 2,742 2,999 3,517 3,560 Multilateral 781 1,215 1,111 1,230 1,401 1,754 1,863 1,788 of which: IBRD 243 297 129 41 28 26 192 55 IDA 64 186 330 451 450 746 558 752 Bilateral 891 1,399 1,220 1,247 1,341 1,245 1,654 1,771 Private creditors 721 896 1,469 743 701 687 566 577 of which: Bonds 30 30 0 13 26 26 26 26 Commercial banks 280 301 845 207 209 212 150 171 Private nonguaranteed 125 215 387 438 362 297 405 546 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1,483 1,734 1,645 1,608 1,630 1,687 2,219 2,093 Public and publicly guaranteed 1,415 1,656 1,507 1,499 1,518 1,592 2,105 1,967 Official creditors 1,092 1,419 1,093 1,354 1,359 1,392 1,894 1,701 Multilateral 571 735 602 818 835 851 1,177 958 of which: IBRD 171 137 52 14 14 17 312 19 IDA 131 241 258 431 430 394 311 360 Bilateral 521 684 491 535 524 541 717 743 Private creditors 323 237 414 145 159 199 211 266 of which: Bonds 13 6 23 22 22 57 72 134 Commercial banks 137 113 222 41 55 59 64 64 Private nonguaranteed 68 77 138 109 112 95 113 126 of which: Bonds 0 0 14 0 0 0 0 2 8. Debt stock-flow reconciliation Total change in external debt stocks 12,052 6,207 -16,520 6,529 -8,492 -26,237 16,187 .. 30 Non-debt flows (bill US$) Net flows on external debt 5,225 5,231 250 1,845 6,773 Debt ratios (%) 5,496 7,088 11,013 19,257 Cross-currency valuation 4,872 -1,973 -6,649 4,279 -10,739 -27,966 4,052 .. 9. Debt restructurings 200 Total amount rescheduled 2,707 1,412 943 663 1,421 751 1,214 .. Total amount forgiven 20 1,512 992 522 2,988 1,169 1,259 682 .. Debt buyback 0 29 137 150 0 0 0 0 .. 100 10 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 39 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 1,070,255 1,704,407 2,000,615 2,429,633 2,454,431 2,668,054 3,292,014 3,550,214 Long-term external debt 872,869 1,340,157 1,669,770 1,901,707 1,906,850 2,057,186 2,443,401 2,705,268 Public and publicly guaranteed 814,913 1,133,675 1,157,357 1,281,999 1,162,826 1,121,736 1,205,705 1,241,882 Private nonguaranteed 57,956 206,482 512,414 619,708 744,023 935,450 1,237,695 1,463,386 Use of IMF credit 28,372 52,239 51,643 88,822 43,104 16,327 11,736 21,117 Short-term external debt 169,015 312,058 279,202 439,104 504,477 594,541 836,877 823,829 interest arrears on long-term 40,810 31,456 21,485 41,290 21,064 18,371 19,321 20,038 Memorandum items Principal arrears on long-term 45,917 67,955 33,362 57,502 30,267 29,799 30,102 32,737 Long-term public sector debt 809,806 1,129,190 1,151,205 1,275,430 1,156,254 1,115,119 1,198,241 1,233,507 Long-term private sector debt 63,063 210,967 518,565 626,278 750,596 942,066 1,245,160 1,471,761 Public & publicly guaranteed commitments 87,212 131,655 130,979 126,008 155,468 128,236 181,633 159,822 External debt flows Disbursements 97,039 198,956 233,062 341,198 418,427 501,864 696,904 691,051 Long-term external debt 89,659 174,346 223,426 335,044 414,929 498,236 695,319 678,106 IMF purchases 7,380 24,656 9,637 6,155 3,498 3,628 1,585 12,945 Principal repayments 64,479 114,775 232,960 301,491 358,034 411,666 391,060 442,764 Long-term external debt 57,646 107,054 212,980 280,635 314,656 381,206 384,230 439,688 IMF repurchases 6,833 7,749 19,979 20,856 43,378 30,460 6,830 3,076 Net flows 55,699 138,750 -7,871 100,278 145,993 182,956 546,825 234,521 Long-term external debt 32,013 67,292 10,445 54,408 100,273 117,030 311,089 238,418 Short-term external debt 23,139 54,569 -7,974 60,571 85,600 92,757 240,980 -13,766 Interest payments 54,254 83,557 111,774 96,940 105,975 119,980 141,547 151,349 Long-term external debt 44,201 66,763 93,215 79,988 85,961 96,455 111,623 125,817 IMF charges 2,217 2,171 2,797 3,429 3,249 1,580 694 481 Short-term external debt 7,836 14,628 15,762 13,522 16,765 21,945 29,230 25,052 2. Other non-debt resource flows Foreign direct investment (net) 22,430 95,257 154,539 209,504 273,586 351,513 507,545 567,188 Portfolio equity flows 3,384 13,998 14,134 38,573 68,675 104,413 128,965 -56,557 Profit remittances on FDI 15,216 36,974 66,695 124,539 165,989 236,569 309,546 350,145 of which: Debt forgiveness grants .. .. 1,876 6,474 30,902 43,192 16,994 2,023 IDA grants .. .. .. 16 83 160 140 461 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 19.2 16.5 17.5 17.9 16.4 Japanese yen 11.7 13.3 11.9 10.7 10.0 9.8 9.0 10.7 Pound sterling 2.4 1.5 1.0 1.4 1.1 0.8 0.6 0.4 Swiss franc 1.9 1.2 0.5 0.7 0.7 0.7 0.8 0.9 U.S.dollars 46.3 49.2 63.5 61.9 65.7 65.4 66.3 66.6 4. Average terms of new commitments Official creditors Interest (%) 5.7 6.2 5.2 2.9 4.0 4.4 4.3 3.3 Maturity (years) 21.8 17.9 18.1 19.2 20.0 20.5 20.6 21.8 Grace period (years) 6.3 5.0 4.5 5.3 5.2 5.6 5.8 6.3 Private creditors Interest (%) 8.6 6.5 8.1 5.8 6.0 6.0 6.3 6.0 Maturity (years) 11.1 7.4 11.9 10.7 11.7 11.9 10.4 11.8 Grace period (years) 4.1 3.5 8.9 8.8 9.5 9.5 8.1 8.4 5. Major economic aggregates Gross national income (GNI) 3,407,769 4,728,943 5,550,547 7,825,771 9,313,324 11,001,455 13,543,652 16,228,323 Exports of goods, services & income 661,803 1,166,968 1,692,798 2,780,178 3,429,254 4,193,932 5,093,054 6,097,461 Worker remit. & comp. of employees 27,283 52,247 76,827 148,633 176,907 209,019 257,181 295,144 Imports of goods & services 689,868 1,265,959 1,681,390 2,646,498 3,181,154 3,823,669 4,683,422 5,720,994 International reserves 176,411 440,717 651,480 1,573,428 1,965,128 2,598,891 3,684,074 3,959,627 6. Ratios External debt stocks to exports (%) 161.7 146.1 118.2 87.4 71.6 63.6 64.6 58.2 External debt stocks to GNI (%) 31.4 36.0 36.0 31.0 26.4 24.3 24.3 21.9 Debt service to exports (%) 17.9 17.0 20.4 14.3 13.5 12.7 10.5 9.7 Short-term to external debt stocks (%) 15.8 18.3 14.0 18.1 20.6 22.3 25.4 23.2 Multilateral to external debt stocks (%) 14.5 12.8 12.8 11.8 11.3 10.4 8.9 8.7 Reserves to external debt stocks (%) 16.5 25.9 32.6 64.8 80.1 97.4 111.9 111.5 Reserves to imports (months) 3.1 4.2 4.6 7.1 7.4 8.2 9.4 8.3 40 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 872,869 1,340,157 1,669,770 1,901,707 1,906,850 2,057,186 2,443,401 2,705,268 Public and publicly guaranteed 814,913 1,133,675 1,157,357 1,281,999 1,162,826 1,121,736 1,205,705 1,241,882 Official creditors 410,340 640,404 632,968 662,208 572,833 520,400 534,911 566,475 Multilateral 155,594 218,749 256,970 287,804 277,350 277,326 292,399 309,343 of which: IBRD 87,445 106,196 109,555 102,625 96,929 93,409 94,724 97,689 IDA 24,494 37,558 45,704 62,657 60,445 60,803 64,796 65,482 Bilateral 254,746 421,655 375,998 374,404 295,483 243,074 242,512 257,132 Private creditors 404,573 493,271 524,389 619,791 589,994 601,335 670,794 675,407 of which: Bonds 97,158 228,361 343,278 435,318 401,961 411,839 450,583 454,450 Commercial banks 212,004 144,000 117,189 137,730 147,770 153,861 189,396 193,173 Private nonguaranteed 57,956 206,482 512,414 619,708 744,023 935,450 1,237,695 1,463,386 of which: Bonds 347 51,018 92,704 123,066 156,168 196,493 260,467 248,937 Disbursements 89,659 174,346 223,426 335,044 414,929 498,236 695,319 678,106 Public and publicly guaranteed 72,702 120,737 123,421 132,432 144,281 133,281 172,165 166,088 Official creditors 38,500 57,959 44,805 38,360 36,612 44,316 46,837 57,766 Multilateral 21,420 25,905 28,530 26,447 26,359 32,329 34,491 40,385 of which: IBRD 13,073 12,561 13,268 10,415 9,407 12,097 10,483 13,677 IDA 1,788 2,931 2,472 3,697 3,325 3,384 3,132 2,742 Bilateral 17,080 32,055 16,274 11,913 10,254 11,987 12,346 17,381 Private creditors 34,202 62,778 78,616 94,072 107,668 88,964 125,328 108,322 of which: Bonds 3,915 22,286 54,797 59,710 63,988 55,575 66,002 61,714 Commercial banks 14,123 21,933 15,247 30,465 39,939 28,906 55,895 43,159 Private nonguaranteed 16,957 53,609 100,005 202,612 270,648 364,955 523,153 512,018 of which: Bonds 291 14,063 11,619 33,419 49,190 53,792 86,668 25,287 Principal repayments 57,646 107,054 212,980 280,635 314,656 381,206 384,230 439,688 Public and publicly guaranteed 50,587 81,112 109,807 121,608 147,986 190,508 123,318 141,718 Official creditors 18,738 38,872 43,373 55,296 73,335 95,208 49,592 47,545 Multilateral 9,896 17,334 20,768 28,821 24,355 34,311 23,928 24,421 of which: IBRD 7,560 11,073 9,474 15,090 12,273 17,342 10,935 11,057 IDA 182 356 617 1,072 1,167 1,316 1,373 1,620 Bilateral 8,842 21,538 22,604 26,475 48,980 60,897 25,663 23,124 Private creditors 31,849 42,239 66,434 66,311 74,650 95,300 73,726 94,173 of which: Bonds 4,240 11,061 32,679 33,188 41,588 59,142 40,093 50,887 Commercial banks 14,331 14,981 22,429 25,345 24,788 27,160 27,092 36,313 Private nonguaranteed 7,059 25,942 103,174 159,028 166,671 190,698 260,912 297,970 of which: Bonds 0 4,042 15,032 24,099 15,505 18,619 26,135 21,130 Interest payments 44,201 66,763 93,215 79,988 85,961 96,455 111,623 125,817 Public and publicly guaranteed 39,737 55,896 61,616 53,622 59,789 55,718 58,273 57,964 Official creditors 16,142 26,645 24,885 20,246 22,439 17,997 17,760 16,657 Multilateral 9,061 12,093 14,211 9,684 9,521 10,588 11,337 11,006 of which: IBRD 6,581 7,598 7,469 4,032 4,041 4,829 5,211 4,653 IDA 169 262 319 460 464 451 460 555 Bilateral 7,081 14,552 10,674 10,562 12,918 7,409 6,424 5,651 Private creditors 23,595 29,252 36,731 33,375 37,350 37,721 40,513 41,307 of which: Bonds 3,991 15,085 24,734 25,739 29,422 28,563 29,783 30,635 Commercial banks 14,470 7,730 8,549 5,724 6,390 7,665 8,950 8,953 Private nonguaranteed 4,464 10,867 31,599 26,367 26,172 40,737 53,350 67,852 of which: Bonds 3 3,172 7,955 8,474 9,421 14,718 17,231 17,053 8. Debt stock-flow reconciliation Total change in external debt stocks 78,660 165,358 -47,737 150,212 24,798 213,240 623,961 .. 750 Non-debt flows (bill US$) Net flows on external debt 55,699 138,750 200 -7,871 100,278 Debt 145,993 ratios182,956 (%) 546,825 298,361 Cross-currency valuation 35,475 6,346 -43,413 31,792 -66,318 24,699 39,329 .. 9. Debt restructurings Total amount rescheduled 75,040 29,299 59,817 150 6,989 29,754 4,050 2,096 .. Total amount forgiven 500 11,091 1,252 318 1,960 8,604 14,773 2,545 .. Debt buyback 3,583 132 16,879 1,110 736 5,450 6,018 .. 100 250 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 41 Country tables 43 AFGHANISTAN 1. Summary external debt data External debt stocks .. .. .. .. .. 929 1,974 2,200 Long-term external debt .. .. .. .. .. 911 1,894 2,096 Public and publicly guaranteed .. .. .. .. .. 911 1,894 2,096 Private nonguaranteed .. .. .. .. .. 0 0 0 Use of IMF credit .. 0 0 0 0 0 59 87 Short-term external debt .. .. .. .. .. 18 21 17 interest arrears on long-term .. .. .. .. .. 18 21 17 Memorandum items .. .. .. .. .. 87 89 56 .. .. .. .. .. 911 1,894 2,096 .. .. .. .. .. 0 0 0 .. .. .. .. .. 130 37 58 External debt flows Disbursements .. .. .. .. .. 146 202 143 Long-term external debt .. .. .. .. .. 146 147 108 IMF purchases .. 0 0 0 0 0 55 36 Principal repayments .. .. .. .. .. 3 4 4 Long-term external debt .. .. .. .. .. 3 4 4 IMF repurchases .. 0 0 0 0 0 0 0 Net flows .. .. .. .. .. 143 198 140 Long-term external debt .. .. .. .. .. 143 143 104 Short-term external debt .. .. .. .. .. 0 0 0 Interest payments .. .. .. .. .. 6 7 8 Long-term external debt .. .. .. .. .. 6 6 8 IMF charges .. 0 0 0 0 0 0 0 Short-term external debt .. .. .. .. .. 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) .. .. .. .. .. 242 243 300 Portfolio equity flows .. .. .. .. .. 0 0 0 Profit remittances on FDI .. .. .. .. .. 0 0 0 Grants (excluding technical coop.) .. .. .. .. .. 2,008 3,226 4,031 of which: Debt forgiveness grants .. .. .. .. .. 0 31 15 IDA grants .. .. .. 95 200 104 287 122 Memo: technical coop. grants .. .. .. .. .. 844 518 711 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. .. .. 0.0 0.0 0.0 Japanese yen .. .. .. .. .. 0.0 0.0 0.0 Pound sterling .. .. .. .. .. 2.8 1.3 0.0 Swiss franc .. .. .. .. .. 0.0 0.0 0.0 U.S.dollars .. .. .. .. .. 63.3 74.5 69.5 4. Average terms of new commitments Official creditors Interest (%) .. .. .. .. .. 1.2 1.4 0.5 Maturity (years) .. .. .. .. .. 39.8 31.6 34.6 Grace period (years) .. .. .. .. .. 10.3 8.1 10.0 Private creditors Interest (%) .. .. .. .. .. 0.0 0.0 0.0 Maturity (years) .. .. .. .. .. 0.0 0.0 0.0 Grace period (years) .. .. .. .. .. 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. .. 8,186 10,170 .. Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) .. .. .. .. .. 11.3 19.4 .. Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) .. .. .. .. .. 2.0 1.1 0.8 Multilateral to external debt stocks (%) .. .. .. .. .. 70.4 41.5 45.7 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 44 AFGHANISTAN 7. Long-term external debt Debt outstanding and disbursed .. .. .. .. .. 911 1,894 2,096 Public and publicly guaranteed .. .. .. .. .. 911 1,894 2,096 Official creditors .. .. .. .. .. 910 1,893 2,095 Multilateral .. .. .. .. .. 654 819 1,004 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 227 294 343 399 444 Bilateral .. .. .. .. .. 257 1,074 1,091 Private creditors .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Disbursements .. .. .. .. .. 146 147 108 Public and publicly guaranteed .. .. .. .. .. 146 147 108 Official creditors .. .. .. .. .. 146 147 108 Multilateral .. .. .. .. .. 107 140 99 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 135 84 39 44 44 Bilateral .. .. .. .. .. 40 7 9 Private creditors .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Principal repayments .. .. .. .. .. 3 4 4 Public and publicly guaranteed .. .. .. .. .. 3 4 4 Official creditors .. .. .. .. .. 3 4 4 Multilateral .. .. .. .. .. 3 4 3 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 3 3 3 3 3 Bilateral .. .. .. .. .. 0 0 0 Private creditors .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Interest payments .. .. .. .. .. 6 6 8 Public and publicly guaranteed .. .. .. .. .. 6 6 8 Official creditors .. .. .. .. .. 6 6 8 Multilateral .. .. .. .. .. 6 6 7 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 2 3 3 3 3 Bilateral .. .. .. .. .. 0 0 0 Private creditors .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. .. .. .. 229 1,045 226 Net flows on external debt .. .. .. .. .. 143 198 140 Cross-currency valuation .. .. .. .. .. 25 31 -22 9. Debt restructurings Total amount rescheduled .. .. .. .. .. 95 842 52 Total amount forgiven .. .. .. .. .. 0 21 52 Debt buyback .. .. .. .. .. 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6 7 17 30 42 94 103 106 Interest 10 12 14 22 21 63 60 58 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: The effects of the 2006 Paris Club rescheduling and debt forgiveness from Russian Federation are reflected in the 2006 data. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $1,774 in thousands and $3,537 in thousands respectively. 45 ALBANIA 1. Summary external debt data External debt stocks .. 456 1,061 1,547 1,832 2,343 2,775 3,188 Long-term external debt .. 330 936 1,449 1,457 1,659 1,858 2,329 Public and publicly guaranteed .. 330 921 1,403 1,372 1,575 1,786 2,222 Private nonguaranteed .. 0 15 46 84 84 72 106 Use of IMF credit .. 65 88 97 92 93 90 80 Short-term external debt .. 62 37 1 283 591 827 779 interest arrears on long-term .. 2 3 1 1 1 1 0 Memorandum items .. 27 271 16 16 16 17 1 .. 330 920 1,403 1,372 1,575 1,786 2,222 .. 0 16 46 84 84 72 106 .. 183 173 281 181 311 280 610 External debt flows Disbursements .. 80 138 197 163 191 178 632 Long-term external debt .. 70 120 185 151 184 171 624 IMF purchases .. 11 19 12 12 7 7 8 Principal repayments .. 2 16 52 50 91 81 92 Long-term external debt .. 0 9 42 41 80 67 76 IMF repurchases .. 1 7 9 9 11 14 15 Net flows .. -99 130 -3 395 407 333 493 Long-term external debt .. 69 110 142 110 103 104 548 Short-term external debt .. -178 8 -148 282 308 236 -47 Interest payments .. 9 11 23 31 48 64 77 Long-term external debt .. 5 8 21 25 29 34 48 IMF charges .. 1 1 0 0 1 1 1 Short-term external debt .. 3 2 1 6 18 29 28 2. Other non-debt resource flows Foreign direct investment (net) .. 70 143 341 262 325 662 937 Portfolio equity flows .. 0 0 0 0 0 0 0 Profit remittances on FDI .. 4 0 0 2 5 9 202 Grants (excluding technical coop.) .. 77 161 110 153 147 148 190 of which: Debt forgiveness grants .. .. 2 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 33 54 92 90 100 84 109 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 29.4 28.2 31.2 35.3 47.2 Japanese yen .. 2.5 3.2 3.4 4.0 3.4 3.0 2.8 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 60.9 73.2 59.2 59.4 55.9 51.9 40.9 4. Average terms of new commitments Official creditors Interest (%) .. 3.4 3.5 2.3 2.3 3.4 4.3 1.9 Maturity (years) .. 25.4 29.7 19.8 20.4 20.2 20.7 28.3 Grace period (years) .. 7.5 10.5 7.6 7.4 6.6 5.3 8.3 Private creditors Interest (%) .. 3.0 0.0 0.0 0.0 0.3 5.3 6.2 Maturity (years) .. 22.7 0.0 0.0 0.0 29.9 11.2 15.4 Grace period (years) .. 11.7 0.0 0.0 0.0 18.8 1.7 6.0 5. Major economic aggregates Gross national income (GNI) .. 2,483 3,790 7,646 8,541 9,311 11,133 12,672 Exports of goods, services & income .. 760 1,350 2,839 3,208 3,805 4,712 5,524 Worker remit. & comp. of employees .. 427 598 1,161 1,290 1,359 1,468 1,495 Imports of goods & services .. 865 1,509 3,278 3,913 4,569 5,989 7,602 International reserves .. 265 646 1,388 1,440 1,813 2,162 2,364 Current account balance .. -12 -156 -358 -571 -671 -1,151 -1,924 6. Ratios External debt stocks to exports (%) .. 60.0 78.6 54.5 57.1 61.6 58.9 57.7 External debt stocks to GNI (%) .. 18.4 28.0 20.2 21.4 25.2 24.9 25.2 Debt service to exports (%) .. 1.4 2.0 2.6 2.5 3.7 3.1 3.0 Short-term to external debt stocks (%) .. 13.7 3.5 0.1 15.5 25.2 29.8 24.4 Multilateral to external debt stocks (%) .. 25.1 40.2 56.6 47.4 43.2 42.5 40.6 Reserves to external debt stocks (%) .. 58.1 60.9 89.7 78.6 77.4 77.9 74.1 Reserves to imports (months) .. 3.7 5.1 5.1 4.4 4.8 4.3 3.7 46 ALBANIA 7. Long-term external debt Debt outstanding and disbursed .. 330 936 1,449 1,457 1,659 1,858 2,329 Public and publicly guaranteed .. 330 921 1,403 1,372 1,575 1,786 2,222 Official creditors .. 305 899 1,380 1,350 1,552 1,765 1,881 Multilateral .. 115 426 876 868 1,013 1,179 1,295 of which: IBRD .. 0 0 0 0 0 6 17 IDA .. 109 346 677 655 729 803 817 Bilateral .. 190 473 503 482 539 586 586 Private creditors .. 25 22 23 22 23 21 342 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 326 Private nonguaranteed .. 0 15 46 84 84 72 106 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 70 120 185 151 184 171 624 Public and publicly guaranteed .. 70 120 148 116 168 164 566 Official creditors .. 70 120 148 116 168 163 210 Multilateral .. 48 101 113 82 115 131 171 of which: IBRD .. 0 0 0 0 0 5 12 IDA .. 43 64 67 34 46 48 27 Bilateral .. 22 19 35 34 53 32 39 Private creditors .. 0 0 0 0 0 1 356 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 345 Private nonguaranteed .. 0 0 36 35 15 7 58 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 9 42 41 80 67 76 Public and publicly guaranteed .. 0 9 36 40 57 55 59 Official creditors .. 0 8 36 39 54 52 59 Multilateral .. 0 2 15 18 24 26 28 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 3 4 5 6 7 Bilateral .. 0 6 20 21 31 26 31 Private creditors .. 0 1 1 1 3 4 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 6 1 23 11 18 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 5 8 21 25 29 34 48 Public and publicly guaranteed .. 5 7 20 23 25 31 44 Official creditors .. 4 7 20 23 25 31 35 Multilateral .. 1 4 12 14 14 18 24 of which: IBRD .. 0 0 0 0 0 0 1 IDA .. 1 2 5 5 6 6 6 Bilateral .. 3 3 8 9 11 13 11 Private creditors .. 1 0 0 0 0 0 9 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 9 Private nonguaranteed .. 0 1 1 2 4 3 4 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. -427 352 63 284 511 432 413 Net flows on external debt .. -99 130 -3 395 407 333 493 Cross-currency valuation .. 8 -35 63 -121 85 100 -37 9. Debt restructurings Total amount rescheduled .. 6 28 0 10 9 0 8 Total amount forgiven .. 116 0 4 0 2 0 0 Debt buyback .. 30 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 87 103 116 125 131 135 135 125 Interest 38 42 43 42 40 37 33 30 Private creditors Principal 5 12 14 18 28 66 48 38 Interest 19 19 19 18 16 15 13 11 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. 47 ALGERIA 1. Summary external debt data External debt stocks 28,149 33,042 25,381 22,178 16,862 5,721 5,757 5,476 Long-term external debt 26,688 31,303 23,441 21,105 16,346 5,180 5,007 4,172 Public and publicly guaranteed 26,688 31,303 23,441 20,395 15,480 3,876 3,892 3,011 Private nonguaranteed 0 0 0 710 866 1,304 1,115 1,161 Use of IMF credit 670 1,478 1,718 643 0 0 0 0 Short-term external debt 791 261 222 431 516 541 750 1,304 interest arrears on long-term 0 3 0 0 0 0 0 0 Memorandum items 1 1 0 0 0 0 0 0 26,608 31,214 23,319 20,190 15,306 3,816 3,784 2,930 80 89 122 914 1,040 1,364 1,222 1,242 8,054 2,427 1,419 1,421 331 208 94 0 External debt flows Disbursements 7,017 4,157 1,215 2,112 1,239 842 425 331 Long-term external debt 7,017 3,683 1,215 2,112 1,239 842 425 331 IMF purchases 0 475 0 0 0 0 0 0 Principal repayments 6,780 2,419 2,814 4,706 5,062 12,791 1,159 1,085 Long-term external debt 6,780 2,248 2,722 4,334 4,450 12,791 1,159 1,085 IMF repurchases 0 171 93 372 612 0 0 0 Net flows -811 1,361 -1,573 -2,308 -3,738 -11,924 -525 -199 Long-term external debt 237 1,435 -1,507 -2,222 -3,211 -11,949 -734 -753 Short-term external debt -1,049 -378 27 285 85 25 209 554 Interest payments 2,025 1,832 1,655 1,033 921 626 235 194 Long-term external debt 1,784 1,741 1,552 1,001 888 610 213 163 IMF charges 62 69 92 22 18 1 0 0 Short-term external debt 179 22 10 10 15 15 22 31 2. Other non-debt resource flows Foreign direct investment (net) 0 0 438 882 1,081 1,795 1,665 2,646 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 151 0 0 0 0 0 0 0 Grants (excluding technical coop.) 45 70 61 99 124 118 158 137 of which: Debt forgiveness grants .. .. 0 0 38 24 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 106 101 76 189 198 200 228 177 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 42.0 40.5 58.4 61.8 60.5 Japanese yen 15.1 13.1 14.4 11.1 8.2 6.1 4.9 5.5 Pound sterling 1.5 0.9 1.0 2.0 1.4 0.0 0.0 0.0 Swiss franc 0.8 0.7 0.5 1.0 0.8 0.1 0.1 0.0 U.S.dollars 33.5 38.0 44.5 36.1 41.0 30.0 26.8 28.6 4. Average terms of new commitments Official creditors Interest (%) 7.0 6.2 6.2 3.0 3.2 0.5 0.9 0.0 Maturity (years) 16.8 11.7 14.9 13.3 12.9 16.8 14.7 0.0 Grace period (years) 4.0 3.3 4.1 3.3 3.6 3.2 7.7 0.0 Private creditors Interest (%) 8.9 7.2 6.2 4.0 2.6 3.5 4.6 0.0 Maturity (years) 6.6 8.9 7.4 11.1 9.6 12.0 6.0 0.0 Grace period (years) 2.0 1.9 1.9 2.2 2.0 3.1 0.9 0.0 5. Major economic aggregates Gross national income (GNI) 59,955 39,574 52,080 81,414 97,259 111,940 132,594 171,880 Exports of goods, services & income 13,887 .. .. .. .. .. .. .. Worker remit. & comp. of employees 352 1,120 790 2,460 2,060 1,610 2,120 2,202 Imports of goods & services 12,448 .. .. .. .. .. .. .. International reserves 2,703 4,164 13,556 45,692 59,167 81,463 114,972 148,099 Current account balance 1,420 .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 202.7 .. .. .. .. .. .. .. External debt stocks to GNI (%) 47.0 83.5 48.7 27.2 17.3 5.1 4.3 3.2 Debt service to exports (%) 63.4 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 2.8 0.8 0.9 1.9 3.1 9.5 13.0 23.8 Multilateral to external debt stocks (%) 7.2 11.8 16.2 15.8 14.5 2.5 2.4 0.4 Reserves to external debt stocks (%) 9.6 12.6 53.4 206.0 350.9 1,424.0 1,997.2 2,704.7 Reserves to imports (months) 2.6 .. .. .. .. .. .. .. 48 ALGERIA 7. Long-term external debt Debt outstanding and disbursed 26,688 31,303 23,441 21,105 16,346 5,180 5,007 4,172 Public and publicly guaranteed 26,688 31,303 23,441 20,395 15,480 3,876 3,892 3,011 Official creditors 5,866 15,685 17,589 15,948 12,419 2,170 2,314 2,001 Multilateral 2,031 3,915 4,123 3,508 2,444 145 137 20 of which: IBRD 1,208 2,049 1,425 909 779 119 113 11 IDA 0 0 0 0 0 0 0 0 Bilateral 3,835 11,770 13,466 12,439 9,975 2,025 2,178 1,981 Private creditors 20,822 15,618 5,851 4,447 3,062 1,706 1,578 1,011 of which: Bonds 1,420 0 0 0 0 0 0 0 Commercial banks 5,851 4,529 2,508 1,454 1,038 59 76 60 Private nonguaranteed 0 0 0 710 866 1,304 1,115 1,161 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 7,017 3,683 1,215 2,112 1,239 842 425 331 Public and publicly guaranteed 7,017 3,683 1,215 1,828 776 391 167 100 Official creditors 1,835 1,596 795 907 446 252 109 85 Multilateral 612 932 349 424 358 54 6 11 of which: IBRD 300 554 58 40 31 16 6 5 IDA 0 0 0 0 0 0 0 0 Bilateral 1,223 664 446 483 88 199 103 74 Private creditors 5,182 2,087 420 921 330 138 58 15 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 206 222 0 9 8 34 20 0 Private nonguaranteed 0 0 0 285 463 451 259 231 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 6,780 2,248 2,722 4,334 4,450 12,791 1,159 1,085 Public and publicly guaranteed 6,780 2,248 2,722 4,118 4,222 12,640 595 910 Official creditors 1,174 671 1,056 2,702 2,849 10,938 202 364 Multilateral 312 454 351 1,201 1,190 2,396 16 127 of which: IBRD 130 260 172 189 156 677 12 107 IDA 0 0 0 0 0 0 0 0 Bilateral 862 217 705 1,500 1,658 8,542 186 236 Private creditors 5,606 1,577 1,666 1,417 1,373 1,702 392 546 of which: Bonds 16 278 0 0 0 0 0 0 Commercial banks 1,330 220 439 380 348 1,029 10 13 Private nonguaranteed 0 0 0 216 229 151 565 175 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1,784 1,741 1,552 1,001 888 610 213 163 Public and publicly guaranteed 1,784 1,741 1,552 984 863 557 145 113 Official creditors 312 823 1,131 825 711 441 61 49 Multilateral 117 251 297 217 163 118 7 12 of which: IBRD 73 137 128 60 46 21 6 12 IDA 0 0 0 0 0 0 0 0 Bilateral 195 572 834 608 547 322 53 37 Private creditors 1,472 917 421 159 152 116 84 63 of which: Bonds 105 13 0 0 0 0 0 0 Commercial banks 526 251 146 37 34 30 2 2 Private nonguaranteed 0 0 0 17 25 53 68 50 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 912 2,809 -2,618 -1,363 -5,316 -11,141 36 -281 Net flows on external debt -811 1,361 -1,573 -2,308 -3,738 -11,924 -525 -199 Cross-currency valuation 1,669 687 -1,144 922 -1,590 775 254 -87 9. Debt restructurings Total amount rescheduled 0 5,096 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 408 306 209 196 188 215 184 141 Interest 49 44 40 36 32 28 23 19 Private creditors Principal 730 351 284 381 116 84 72 71 Interest 67 45 33 24 17 13 10 7 Notes: Short-term debt data are reported by the country. 49 ANGOLA 1. Summary external debt data External debt stocks 8,592 11,500 9,408 9,362 11,822 9,469 11,516 15,130 Long-term external debt 7,603 9,543 8,085 8,166 9,506 7,337 9,245 12,711 Public and publicly guaranteed 7,603 9,543 8,085 8,166 9,506 7,337 9,245 12,711 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 989 1,958 1,323 1,196 2,316 2,132 2,271 2,419 interest arrears on long-term 204 1,232 874 673 577 161 90 71 Memorandum items 496 4,190 2,853 2,179 1,877 700 351 279 7,599 9,513 8,059 8,154 9,495 7,331 9,244 12,710 5 29 26 12 12 7 2 1 523 426 1,033 5,284 14,150 2,036 4,378 4,188 External debt flows Disbursements 862 550 1,045 2,602 3,664 1,224 5,650 4,624 Long-term external debt 862 550 1,045 2,602 3,664 1,224 5,650 4,624 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 183 332 1,530 1,702 2,289 3,513 3,756 1,132 Long-term external debt 183 332 1,530 1,702 2,289 3,513 3,756 1,132 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 977 -90 -733 1,239 2,591 -2,057 2,104 3,659 Long-term external debt 679 218 -485 900 1,375 -2,289 1,894 3,492 Short-term external debt 298 -308 -248 339 1,216 232 210 167 Interest payments 143 132 175 174 313 908 681 511 Long-term external debt 100 79 149 166 257 824 577 443 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 43 53 26 9 57 83 104 68 2. Other non-debt resource flows Foreign direct investment (net) -335 472 879 1,449 -1,304 -38 -893 1,679 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 314 386 929 1,950 3,406 5,278 7,268 13,185 Grants (excluding technical coop.) 192 328 206 365 303 295 302 281 of which: Debt forgiveness grants .. .. 1 0 0 0 0 30 IDA grants .. .. .. 3 6 16 25 16 Memo: technical coop. grants 36 73 47 70 81 73 45 66 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.3 8.2 6.2 6.4 7.6 Japanese yen 0.3 0.3 0.5 0.5 0.3 0.0 0.0 0.0 Pound sterling 1.4 0.9 1.0 1.2 0.9 0.2 0.2 0.1 Swiss franc 0.7 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 80.7 81.0 86.3 83.4 87.8 90.4 91.1 90.6 4. Average terms of new commitments Official creditors Interest (%) 5.7 8.1 0.8 3.1 6.5 1.1 0.4 0.6 Maturity (years) 14.1 9.9 39.8 13.4 13.8 10.9 12.1 43.4 Grace period (years) 3.7 0.4 10.3 1.5 2.0 1.5 2.7 10.4 Private creditors Interest (%) 7.7 8.1 5.0 2.9 6.6 8.0 6.3 4.6 Maturity (years) 7.7 8.6 3.1 6.8 7.7 9.0 6.8 7.4 Grace period (years) 1.8 0.4 1.3 0.6 1.3 0.8 1.0 0.8 5. Major economic aggregates Gross national income (GNI) 8,214 3,688 7,449 17,295 26,601 39,679 50,485 70,958 Exports of goods, services & income 4,003 3,852 8,222 13,831 24,312 33,492 45,329 64,737 Worker remit. & comp. of employees .. .. .. .. .. .. .. 82 Imports of goods & services 4,161 4,302 7,454 13,151 19,201 22,612 34,913 58,048 International reserves .. 213 1,198 1,374 3,197 8,599 11,197 18,359 Current account balance -236 -295 796 686 5,138 10,690 10,194 6,408 6. Ratios External debt stocks to exports (%) 214.6 298.6 114.4 67.7 48.6 28.3 25.4 23.4 External debt stocks to GNI (%) 104.6 311.9 126.3 54.1 44.4 23.9 22.8 21.3 Debt service to exports (%) 8.1 12.0 20.7 13.6 10.7 13.2 9.8 2.5 Short-term to external debt stocks (%) 11.5 17.0 14.1 12.8 19.6 22.5 19.7 16.0 Multilateral to external debt stocks (%) 0.7 1.7 3.1 4.1 3.1 4.2 3.6 2.8 Reserves to external debt stocks (%) .. 1.9 12.7 14.7 27.0 90.8 97.2 121.3 Reserves to imports (months) .. 0.6 1.9 1.3 2.0 4.6 3.8 3.8 50 ANGOLA 7. Long-term external debt Debt outstanding and disbursed 7,603 9,543 8,085 8,166 9,506 7,337 9,245 12,711 Public and publicly guaranteed 7,603 9,543 8,085 8,166 9,506 7,337 9,245 12,711 Official creditors 1,839 2,226 2,703 3,301 3,162 2,578 3,200 4,005 Multilateral 57 191 294 379 371 396 416 421 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 81 226 318 319 347 365 369 Bilateral 1,782 2,035 2,409 2,921 2,791 2,182 2,784 3,583 Private creditors 5,765 7,316 5,382 4,865 6,344 4,760 6,045 8,707 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 143 873 2,625 3,484 5,062 3,928 5,248 7,790 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 862 550 1,045 2,602 3,664 1,224 5,650 4,624 Public and publicly guaranteed 862 550 1,045 2,602 3,664 1,224 5,650 4,624 Official creditors 169 119 34 561 309 508 954 1,103 Multilateral 5 30 24 25 34 21 9 16 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 30 24 19 30 18 8 12 Bilateral 164 89 10 537 275 487 945 1,087 Private creditors 693 431 1,011 2,041 3,355 717 4,695 3,521 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 17 396 1,010 1,969 3,236 573 4,562 3,276 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 183 332 1,530 1,702 2,289 3,513 3,756 1,132 Public and publicly guaranteed 183 332 1,530 1,702 2,289 3,513 3,756 1,132 Official creditors 59 24 268 523 505 1,206 353 278 Multilateral 4 2 27 9 8 15 7 8 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 6 5 5 5 6 Bilateral 56 22 241 515 497 1,191 347 270 Private creditors 123 308 1,262 1,178 1,784 2,307 3,402 854 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 8 108 1,149 957 1,654 1,713 3,253 715 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 100 79 149 166 257 824 577 443 Public and publicly guaranteed 100 79 149 166 257 824 577 443 Official creditors 19 12 36 22 61 364 162 118 Multilateral 2 1 28 4 4 7 3 4 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 2 3 3 3 2 3 Bilateral 16 12 8 18 57 356 159 114 Private creditors 81 67 113 144 195 460 415 325 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 33 93 100 160 330 352 260 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,303 207 -891 667 2,460 -2,353 2,047 3,614 Net flows on external debt 977 -90 -733 1,239 2,591 -2,057 2,104 3,659 Cross-currency valuation 150 76 -78 79 -178 126 71 -38 9. Debt restructurings Total amount rescheduled 252 437 0 985 0 2 21 67 Total amount forgiven 0 0 0 204 122 400 72 18 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,434 1,481 1,481 1,480 1,474 1,441 1,418 1,411 Interest 165 278 322 316 287 248 203 158 Private creditors Principal 1,842 1,804 1,728 1,613 1,431 1,085 497 75 Interest 271 234 187 137 89 46 18 10 51 ARGENTINA 1. Summary external debt data External debt stocks 62,233 98,465 140,914 162,379 124,979 115,863 127,672 128,285 Long-term external debt 48,676 70,979 107,543 121,827 80,626 82,234 89,602 90,762 Public and publicly guaranteed 46,876 54,913 81,633 98,016 54,225 60,754 66,021 66,410 Private nonguaranteed 1,800 16,066 25,909 23,811 26,401 21,480 23,581 24,352 Use of IMF credit 3,083 6,131 5,056 14,091 9,513 0 0 0 Short-term external debt 10,473 21,355 28,315 26,461 34,841 33,630 38,070 37,523 interest arrears on long-term 7,590 0 0 16,461 7,735 7,452 8,842 9,435 Memorandum items 4,372 0 0 25,703 11,193 12,125 14,547 16,952 44,707 54,891 81,582 97,991 54,205 60,655 65,927 66,321 3,969 16,088 25,961 23,836 26,421 21,578 23,675 24,440 572 8,381 11,986 1,334 2,462 5,747 6,843 4,504 External debt flows Disbursements 1,587 11,319 20,853 6,282 4,490 6,789 9,090 6,902 Long-term external debt 1,150 8,954 18,759 2,813 4,490 6,789 9,090 6,902 IMF purchases 437 2,365 2,094 3,469 0 0 0 0 Principal repayments 3,443 3,532 15,679 10,466 7,509 14,809 5,171 5,461 Long-term external debt 2,745 3,048 14,400 4,962 3,938 5,016 5,171 5,461 IMF repurchases 697 484 1,280 5,504 3,571 9,793 0 0 Net flows -1,856 21,972 4,074 -4,531 14,087 -8,948 6,969 301 Long-term external debt -1,595 5,906 4,359 -2,149 552 1,773 3,919 1,441 Short-term external debt 0 14,185 -1,100 -347 17,106 -928 3,050 -1,140 Interest payments 2,716 5,322 11,163 2,362 2,954 4,089 4,450 4,090 Long-term external debt 2,208 4,320 9,236 1,550 2,100 2,959 2,900 2,840 IMF charges 277 274 195 554 510 83 0 0 Short-term external debt 231 727 1,732 258 344 1,047 1,550 1,250 2. Other non-debt resource flows Foreign direct investment (net) 1,836 5,609 10,418 4,125 5,265 5,537 6,473 8,853 Portfolio equity flows 0 1,552 -3,227 -86 -48 707 1,785 -531 Profit remittances on FDI 637 2,129 3,086 3,712 5,456 7,112 7,283 7,898 Grants (excluding technical coop.) 21 36 30 32 27 48 77 76 of which: Debt forgiveness grants .. .. 0 0 0 0 3 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 71 84 53 62 61 55 53 64 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 30.7 36.6 36.6 37.8 35.8 Japanese yen 6.7 9.2 6.2 4.6 2.7 2.5 2.4 3.0 Pound sterling 1.1 0.2 0.6 0.4 0.1 0.1 0.1 0.1 Swiss franc 2.2 1.6 0.4 0.5 0.4 0.4 0.4 0.4 U.S.dollars 54.5 57.5 61.0 60.0 54.4 55.9 55.8 57.8 4. Average terms of new commitments Official creditors Interest (%) 6.5 6.5 7.2 3.1 4.2 5.5 5.9 3.0 Maturity (years) 19.2 16.3 18.2 16.0 17.3 20.3 20.5 20.0 Grace period (years) 4.0 4.7 4.8 4.2 4.6 5.0 5.4 4.2 Private creditors Interest (%) 6.0 7.4 10.0 0.0 5.0 5.7 6.6 6.8 Maturity (years) 8.4 4.8 11.6 0.0 8.4 11.1 13.7 12.8 Grace period (years) 1.3 4.6 11.6 0.0 3.7 6.0 11.5 11.3 5. Major economic aggregates Gross national income (GNI) 135,150 253,396 276,656 144,211 176,575 208,660 257,158 321,269 Exports of goods, services & income 16,654 29,396 38,747 43,855 51,715 60,701 73,302 88,914 Worker remit. & comp. of employees .. 56 86 312 432 541 607 691 Imports of goods & services 13,100 35,070 48,076 40,934 46,543 52,954 65,933 80,682 International reserves 6,222 15,979 25,152 19,660 28,082 32,022 46,149 46,385 Current account balance 4,552 -5,118 -8,981 3,212 5,275 7,709 7,103 7,588 6. Ratios External debt stocks to exports (%) 373.7 335.0 363.7 370.3 241.7 190.9 174.2 144.3 External debt stocks to GNI (%) 46.0 38.9 50.9 112.6 70.8 55.5 49.6 39.9 Debt service to exports (%) 37.0 30.1 69.3 29.3 20.2 31.1 13.1 10.7 Short-term to external debt stocks (%) 16.8 21.7 20.1 16.3 27.9 29.0 29.8 29.2 Multilateral to external debt stocks (%) 8.0 9.5 11.5 10.0 12.5 12.9 11.7 11.4 Reserves to external debt stocks (%) 10.0 16.2 17.8 12.1 22.5 27.6 36.1 36.2 Reserves to imports (months) 5.7 5.5 6.3 5.8 7.2 7.3 8.4 6.9 52 ARGENTINA 7. Long-term external debt Debt outstanding and disbursed 48,676 70,979 107,543 121,827 80,626 82,234 89,602 90,762 Public and publicly guaranteed 46,876 54,913 81,633 98,016 54,225 60,754 66,021 66,410 Official creditors 11,226 20,658 20,484 21,472 20,344 20,184 20,444 20,278 Multilateral 5,007 9,373 16,235 16,271 15,571 14,984 14,910 14,643 of which: IBRD 2,609 4,913 8,789 7,447 6,881 6,206 5,674 5,069 IDA 0 0 0 0 0 0 0 0 Bilateral 6,219 11,285 4,249 5,200 4,774 5,200 5,535 5,636 Private creditors 35,650 34,255 61,149 76,544 33,881 40,569 45,577 46,131 of which: Bonds 11,514 32,670 60,622 75,976 33,373 40,018 44,979 45,566 Commercial banks 22,631 793 294 184 171 201 211 205 Private nonguaranteed 1,800 16,066 25,909 23,811 26,401 21,480 23,581 24,352 of which: Bonds 21 7,582 11,138 6,091 8,772 10,138 12,073 7,921 Disbursements 1,150 8,954 18,759 2,813 4,490 6,789 9,090 6,902 Public and publicly guaranteed 1,129 6,604 14,277 1,156 3,183 3,893 5,648 3,912 Official creditors 910 2,804 1,937 1,135 989 1,666 2,386 1,886 Multilateral 736 1,936 1,923 1,112 985 1,662 2,374 1,865 of which: IBRD 405 941 1,019 770 362 459 505 332 IDA 0 0 0 0 0 0 0 0 Bilateral 174 868 13 23 4 4 12 22 Private creditors 219 3,800 12,340 21 2,194 2,227 3,263 2,025 of which: Bonds 0 3,630 12,338 21 2,194 2,227 3,263 2,025 Commercial banks 183 105 2 0 0 0 0 0 Private nonguaranteed 21 2,350 4,482 1,656 1,307 2,896 3,441 2,990 of which: Bonds 21 834 1,408 896 540 896 2,241 0 Principal repayments 2,745 3,048 14,400 4,962 3,938 5,016 5,171 5,461 Public and publicly guaranteed 2,745 1,783 8,896 1,818 1,672 2,539 3,230 2,351 Official creditors 454 1,356 1,837 1,351 1,489 2,362 2,676 2,348 Multilateral 405 512 825 1,319 1,462 2,354 2,568 2,256 of which: IBRD 233 259 538 832 928 1,134 1,037 936 IDA 0 0 0 0 0 0 0 0 Bilateral 49 844 1,012 33 27 9 108 92 Private creditors 2,292 427 7,059 467 183 177 554 3 of which: Bonds 878 128 6,842 466 182 175 554 3 Commercial banks 1,342 158 162 0 0 1 0 0 Private nonguaranteed 0 1,265 5,503 3,143 2,266 2,477 1,941 3,110 of which: Bonds 0 631 2,309 1,565 680 1,303 606 2,009 Interest payments 2,208 4,320 9,236 1,550 2,100 2,959 2,900 2,840 Public and publicly guaranteed 2,064 3,435 7,196 702 1,392 1,309 1,618 1,635 Official creditors 456 1,374 1,589 666 751 842 868 754 Multilateral 375 617 1,256 660 747 838 864 719 of which: IBRD 181 306 701 233 288 346 350 258 IDA 0 0 0 0 0 0 0 0 Bilateral 81 757 334 5 5 4 4 35 Private creditors 1,608 2,062 5,606 36 641 467 750 881 of which: Bonds 973 1,960 5,465 36 640 466 750 881 Commercial banks 621 56 121 0 0 0 0 0 Private nonguaranteed 144 885 2,041 848 708 1,650 1,282 1,206 of which: Bonds 0 641 1,109 675 585 1,135 759 710 8. Debt stock-flow reconciliation Total change in external debt stocks -3,024 23,646 570 2,101 -37,399 -9,116 11,808 613 Net flows on external debt -1,856 21,972 4,074 -4,531 14,087 -8,948 6,969 301 Cross-currency valuation 1,346 -153 -2,606 4,752 -6,234 2,619 2,856 -836 9. Debt restructurings Total amount rescheduled 932 248 0 0 20,136 2,096 983 0 Total amount forgiven 5,970 863 689 0 40,333 3 0 0 Debt buyback 1,232 0 2,745 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,849 1,868 2,018 2,133 1,758 1,654 1,574 1,449 Interest 706 668 626 576 520 462 405 352 Private creditors Principal 5,785 4,829 4,282 2,645 2,934 1,432 4,647 1,642 Interest 2,899 2,802 2,500 2,314 2,164 2,073 1,985 1,656 Notes: Provincial debt, long-term private nonguaranteed debt data are World Bank staff estimates. Short-term debt data for 2008 are World Bank staff estimates. Historical data revisions are due to the reversing process of converting to US$ the debt that was previously converted to Argentina Pesos. Data include the effects of June 2005 Bond restructuring. 53 ARMENIA 1. Summary external debt data External debt stocks .. 371 916 1,970 1,842 2,004 2,898 3,418 Long-term external debt .. 298 697 1,342 1,368 1,533 2,281 2,818 Public and publicly guaranteed .. 298 675 961 923 1,037 1,282 1,446 Private nonguaranteed .. 0 21 381 446 496 999 1,373 Use of IMF credit .. 70 175 218 176 164 158 135 Short-term external debt .. 2 44 410 298 307 459 465 interest arrears on long-term .. 1 6 0 0 0 0 0 Memorandum items .. 75 4 0 0 0 0 0 .. 298 675 961 923 1,037 1,282 1,446 .. 0 21 381 446 496 999 1,373 .. 131 74 116 251 65 203 201 External debt flows Disbursements .. 148 84 166 177 175 761 783 Long-term external debt .. 102 84 138 168 165 751 776 IMF purchases .. 46 0 28 10 10 10 7 Principal repayments .. 3 31 116 104 80 82 280 Long-term external debt .. 3 15 81 69 49 58 253 IMF repurchases .. 0 16 35 34 31 24 27 Net flows .. 147 42 56 -38 104 831 510 Long-term external debt .. 100 69 56 98 116 693 523 Short-term external debt .. 1 -11 6 -112 9 152 6 Interest payments .. 8 15 53 35 70 107 86 Long-term external debt .. 7 9 39 23 59 91 70 IMF charges .. 2 3 1 1 1 1 1 Short-term external debt .. 0 2 12 11 11 15 16 2. Other non-debt resource flows Foreign direct investment (net) .. 25 104 248 239 453 699 935 Portfolio equity flows .. 0 0 1 1 -1 0 -1 Profit remittances on FDI .. 0 22 147 170 244 332 279 Grants (excluding technical coop.) .. 91 61 63 64 58 127 132 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 39 94 97 84 104 42 37 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.6 8.0 8.8 9.0 8.7 Japanese yen .. 0.0 0.0 0.2 0.2 0.4 7.0 12.1 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 62.6 93.3 87.7 86.3 82.6 71.2 62.9 4. Average terms of new commitments Official creditors Interest (%) .. 1.3 0.8 0.8 0.8 0.8 1.5 1.2 Maturity (years) .. 32.6 35.7 39.4 39.6 32.2 24.4 32.1 Grace period (years) .. 9.2 10.2 10.2 10.0 10.3 8.7 8.8 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,466 1,964 3,684 5,033 6,600 9,483 12,388 Exports of goods, services & income .. 366 560 1,511 1,931 2,209 2,682 2,875 Worker remit. & comp. of employees .. 65 87 435 498 658 846 1,062 Imports of goods & services .. 741 1,017 1,918 2,449 2,946 4,122 5,272 International reserves .. 111 314 548 669 1,072 1,659 1,407 Current account balance .. -218 -278 -20 -52 -117 -590 -1,383 6. Ratios External debt stocks to exports (%) .. 101.1 163.7 130.4 95.4 90.7 108.1 118.9 External debt stocks to GNI (%) .. 25.3 46.6 53.5 36.6 30.4 30.6 27.6 Debt service to exports (%) .. 3.1 8.2 11.2 7.2 6.8 7.0 12.7 Short-term to external debt stocks (%) .. 0.6 4.8 20.8 16.2 15.3 15.8 13.6 Multilateral to external debt stocks (%) .. 56.1 52.9 43.0 43.9 45.1 35.9 32.5 Reserves to external debt stocks (%) .. 30.0 34.3 27.8 36.3 53.5 57.2 41.2 Reserves to imports (months) .. 1.8 3.7 3.4 3.3 4.4 4.8 3.2 54 ARMENIA 7. Long-term external debt Debt outstanding and disbursed .. 298 697 1,342 1,368 1,533 2,281 2,818 Public and publicly guaranteed .. 298 675 961 923 1,037 1,282 1,446 Official creditors .. 298 658 959 921 1,036 1,281 1,444 Multilateral .. 208 485 848 808 905 1,041 1,111 of which: IBRD .. 5 8 8 6 6 5 5 IDA .. 91 388 773 746 841 965 1,025 Bilateral .. 90 173 111 113 131 240 333 Private creditors .. 0 17 1 1 1 1 1 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 5 0 0 0 0 0 Private nonguaranteed .. 0 21 381 446 496 999 1,373 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 102 84 138 168 165 751 776 Public and publicly guaranteed .. 102 63 94 50 83 207 164 Official creditors .. 102 62 94 50 83 207 164 Multilateral .. 102 58 83 37 72 110 92 of which: IBRD .. 3 0 0 0 0 0 0 IDA .. 88 54 78 34 64 93 80 Bilateral .. 0 4 11 14 11 97 72 Private creditors .. 0 1 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 21 44 117 82 544 612 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 3 15 81 69 49 58 253 Public and publicly guaranteed .. 3 15 51 16 17 17 15 Official creditors .. 3 13 51 16 17 17 15 Multilateral .. 0 8 18 14 15 15 13 of which: IBRD .. 0 0 1 1 1 1 1 IDA .. 0 0 1 3 6 7 11 Bilateral .. 3 5 33 2 2 2 2 Private creditors .. 0 2 1 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 30 53 32 42 238 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 7 9 39 23 59 91 70 Public and publicly guaranteed .. 7 9 8 9 9 10 11 Official creditors .. 7 9 8 9 9 10 11 Multilateral .. 7 8 7 8 8 8 9 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 3 6 6 6 7 8 Bilateral .. 0 1 1 2 2 2 2 Private creditors .. 0 0 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 31 14 49 81 58 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 156 15 106 -127 162 894 520 Net flows on external debt .. 147 42 56 -38 104 831 510 Cross-currency valuation .. -6 -31 48 -87 56 58 5 9. Debt restructurings Total amount rescheduled .. 0 14 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 22 24 27 29 30 45 47 56 Interest 13 14 15 15 15 15 14 14 Private creditors Principal 355 280 243 145 109 77 64 51 Interest 51 37 25 18 12 8 5 3 Notes: Short-term debt is based on reports provided by the country. 55 AZERBAIJAN 1. Summary external debt data External debt stocks .. 321 1,328 1,949 2,043 2,586 3,593 4,309 Long-term external debt .. 206 836 1,602 1,693 1,932 2,447 3,061 Public and publicly guaranteed .. 206 737 1,372 1,506 1,828 2,304 2,734 Private nonguaranteed .. 0 99 230 187 104 143 327 Use of IMF credit .. 101 336 208 164 134 103 79 Short-term external debt .. 14 156 138 186 520 1,043 1,169 interest arrears on long-term .. 6 0 0 0 0 0 0 Memorandum items .. 36 0 0 0 0 0 0 .. 206 737 1,372 1,506 1,828 2,304 2,734 .. 0 99 230 187 104 143 327 .. 188 202 127 1,387 412 723 1,928 External debt flows Disbursements .. 205 256 311 449 468 490 727 Long-term external debt .. 102 256 311 430 468 490 727 IMF purchases .. 103 0 0 19 0 0 0 Principal repayments .. 0 74 206 198 215 114 186 Long-term external debt .. 0 22 147 150 178 77 164 IMF repurchases .. 0 51 60 48 37 37 22 Net flows .. 207 309 139 300 587 899 668 Long-term external debt .. 102 234 164 281 290 413 563 Short-term external debt .. 2 127 35 48 334 523 126 Interest payments .. 10 56 26 36 55 88 112 Long-term external debt .. 9 37 20 27 39 69 79 IMF charges .. 1 14 3 2 2 1 1 Short-term external debt .. 0 5 4 6 15 18 33 2. Other non-debt resource flows Foreign direct investment (net) .. 330 130 3,556 1,680 -584 -4,749 15 Portfolio equity flows .. 0 0 0 0 1 2 0 Profit remittances on FDI .. 0 317 581 1,582 2,624 4,995 5,401 Grants (excluding technical coop.) .. 61 50 60 87 57 111 108 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 28 30 69 73 97 36 45 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.3 12.6 18.6 21.6 20.8 Japanese yen .. 0.0 20.8 31.5 24.8 19.8 16.6 17.3 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 6.5 6.3 4.1 3.1 2.4 1.9 U.S.dollars .. 51.4 65.8 53.6 54.1 52.5 51.8 51.9 4. Average terms of new commitments Official creditors Interest (%) .. 1.4 4.3 2.7 2.3 4.5 5.2 3.0 Maturity (years) .. 32.2 22.6 22.0 28.8 24.7 20.1 21.5 Grace period (years) .. 9.4 4.7 5.5 7.7 8.0 4.2 4.8 Private creditors Interest (%) .. 0.0 8.2 0.0 3.5 6.0 6.6 4.8 Maturity (years) .. 0.0 9.7 0.0 13.3 12.0 9.8 13.0 Grace period (years) .. 0.0 1.1 0.0 3.0 0.5 1.3 5.0 5. Major economic aggregates Gross national income (GNI) .. 3,039 4,987 7,980 11,599 18,302 27,971 40,992 Exports of goods, services & income .. 795 2,231 4,492 9,024 14,897 24,037 34,144 Worker remit. & comp. of employees .. 3 57 228 693 813 1,287 1,554 Imports of goods & services .. 1,306 2,415 7,078 8,850 11,093 14,831 17,325 International reserves .. 121 680 1,075 1,178 2,500 4,273 6,467 Current account balance .. -401 -168 -2,589 167 3,708 9,019 16,454 6. Ratios External debt stocks to exports (%) .. 40.4 59.5 43.4 22.6 17.4 14.9 12.6 External debt stocks to GNI (%) .. 10.6 26.6 24.4 17.6 14.1 12.8 10.5 Debt service to exports (%) .. 1.3 5.8 5.2 2.6 1.8 0.8 0.9 Short-term to external debt stocks (%) .. 4.4 11.8 7.1 9.1 20.1 29.0 27.1 Multilateral to external debt stocks (%) .. 30.8 24.3 32.5 30.8 28.4 26.8 26.4 Reserves to external debt stocks (%) .. 37.7 51.2 55.2 57.7 96.7 118.9 150.1 Reserves to imports (months) .. 1.1 3.4 1.8 1.6 2.7 3.5 4.5 56 AZERBAIJAN 7. Long-term external debt Debt outstanding and disbursed .. 206 836 1,602 1,693 1,932 2,447 3,061 Public and publicly guaranteed .. 206 737 1,372 1,506 1,828 2,304 2,734 Official creditors .. 206 647 1,284 1,217 1,355 1,594 1,892 Multilateral .. 99 323 633 630 735 963 1,140 of which: IBRD .. 0 0 0 0 5 21 78 IDA .. 30 216 493 501 583 660 698 Bilateral .. 107 324 651 587 620 631 752 Private creditors .. 0 90 89 289 473 710 842 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 65 89 289 438 613 714 Private nonguaranteed .. 0 99 230 187 104 143 327 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 102 256 311 430 468 490 727 Public and publicly guaranteed .. 102 250 77 306 443 443 512 Official creditors .. 102 209 77 70 266 233 283 Multilateral .. 90 56 62 57 211 219 213 of which: IBRD .. 0 0 0 0 5 16 56 IDA .. 30 27 49 48 60 58 50 Bilateral .. 13 153 15 13 55 14 70 Private creditors .. 0 41 0 236 177 210 228 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 38 0 236 141 145 192 Private nonguaranteed .. 0 6 234 124 25 47 216 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 22 147 150 178 77 164 Public and publicly guaranteed .. 0 15 54 53 62 66 141 Official creditors .. 0 13 35 36 43 50 70 Multilateral .. 0 9 15 18 17 21 29 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 0 2 4 6 8 Bilateral .. 0 4 20 19 26 29 41 Private creditors .. 0 2 19 16 19 16 71 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 16 16 18 14 66 Private nonguaranteed .. 0 7 93 97 116 11 23 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 9 37 20 27 39 69 79 Public and publicly guaranteed .. 9 32 16 20 32 62 67 Official creditors .. 9 31 14 16 18 35 29 Multilateral .. 2 7 8 9 11 26 21 of which: IBRD .. 0 0 0 0 1 1 3 IDA .. 0 2 4 4 4 5 5 Bilateral .. 7 24 6 7 7 9 9 Private creditors .. 0 1 2 4 14 27 38 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 2 4 13 25 36 Private nonguaranteed .. 0 5 4 7 7 7 11 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 208 255 222 94 543 1,007 716 Net flows on external debt .. 207 309 139 300 587 899 668 Cross-currency valuation .. -7 -43 60 -129 61 97 64 9. Debt restructurings Total amount rescheduled .. 0 0 87 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 128 139 129 174 185 203 214 223 Interest 34 38 43 46 47 47 46 44 Private creditors Principal 142 196 176 124 172 187 188 167 Interest 56 57 52 48 43 36 30 23 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. 57 BANGLADESH 1. Summary external debt data External debt stocks 12,453 15,941 15,740 20,170 18,959 20,535 21,859 23,644 Long-term external debt 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 Public and publicly guaranteed 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 626 622 216 231 308 476 501 686 Short-term external debt 156 199 334 712 688 1,178 1,379 1,986 interest arrears on long-term 1 15 0 0 16 0 13 9 Memorandum items 11 15 4 0 8 66 229 183 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 0 0 0 0 0 0 0 0 1,317 716 728 1,220 1,180 1,194 2,011 2,751 External debt flows Disbursements 1,273 763 893 1,151 985 1,126 1,132 2,173 Long-term external debt 1,213 763 893 1,004 887 976 1,132 1,967 IMF purchases 60 0 0 147 97 150 0 206 Principal repayments 548 591 599 463 570 472 750 780 Long-term external debt 344 530 513 463 570 472 750 772 IMF repurchases 204 61 86 0 0 0 0 8 Net flows 813 171 375 783 375 1,160 570 2,005 Long-term external debt 869 233 381 541 317 504 382 1,195 Short-term external debt 88 -1 80 95 -40 506 188 611 Interest payments 201 189 201 209 236 233 259 266 Long-term external debt 151 176 171 184 199 172 184 218 IMF charges 40 3 7 1 1 2 2 7 Short-term external debt 9 10 22 24 35 59 72 41 2. Other non-debt resource flows Foreign direct investment (net) 3 2 280 449 813 697 653 973 Portfolio equity flows 0 -15 1 4 20 31 153 10 Profit remittances on FDI 0 0 149 247 661 765 903 642 Grants (excluding technical coop.) 772 693 592 834 669 911 1,027 1,746 of which: Debt forgiveness grants .. .. 179 271 41 239 129 755 IDA grants .. .. .. 0 6 6 12 16 Memo: technical coop. grants 234 293 209 208 186 165 147 227 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.7 0.6 0.7 0.8 0.6 Japanese yen 24.8 25.8 20.3 16.0 14.2 12.7 10.5 10.2 Pound sterling 5.0 3.5 3.0 2.0 2.1 1.9 1.7 1.5 Swiss franc 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 48.0 41.9 44.7 50.0 51.5 52.4 52.1 52.6 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.9 2.4 1.0 1.7 1.9 2.1 1.2 Maturity (years) 37.6 38.2 28.0 36.5 33.7 32.5 32.2 37.6 Grace period (years) 10.2 10.0 7.4 9.5 8.7 8.6 8.1 9.5 Private creditors Interest (%) 5.4 0.0 3.3 3.0 4.9 0.0 0.0 0.0 Maturity (years) 14.1 0.0 13.0 17.3 10.8 0.0 0.0 0.0 Grace period (years) 3.5 0.0 4.8 5.8 1.3 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 30,757 39,097 48,828 59,542 63,355 65,952 73,523 85,311 Exports of goods, services & income 2,907 5,903 9,251 12,908 14,970 18,483 20,888 26,573 Worker remit. & comp. of employees 779 1,202 1,968 3,584 4,314 5,428 6,562 8,995 Imports of goods & services 4,140 7,790 10,018 13,562 15,618 17,802 20,766 26,335 International reserves 660 2,376 1,516 3,222 2,825 3,877 5,277 5,787 Current account balance -398 -824 -306 -279 -176 1,196 857 1,032 6. Ratios External debt stocks to exports (%) 428.4 270.0 170.1 156.3 126.6 111.1 104.6 89.0 External debt stocks to GNI (%) 40.5 40.8 32.2 33.9 29.9 31.1 29.7 27.7 Debt service to exports (%) 25.8 13.2 8.6 5.2 5.4 3.8 4.8 3.9 Short-term to external debt stocks (%) 1.3 1.2 2.1 3.5 3.6 5.7 6.3 8.4 Multilateral to external debt stocks (%) 51.7 60.7 69.8 73.1 74.1 72.9 74.8 73.3 Reserves to external debt stocks (%) 5.3 14.9 9.6 16.0 14.9 18.9 24.1 24.5 Reserves to imports (months) 1.9 3.7 1.8 2.9 2.2 2.6 3.0 2.6 58 BANGLADESH 7. Long-term external debt Debt outstanding and disbursed 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 Public and publicly guaranteed 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 Official creditors 11,449 14,866 14,944 18,684 17,440 18,379 19,500 20,437 Multilateral 6,441 9,678 10,990 14,734 14,055 14,966 16,346 17,334 of which: IBRD 64 55 24 0 0 0 0 0 IDA 4,095 5,638 6,431 8,895 8,688 9,297 10,077 10,613 Bilateral 5,008 5,188 3,954 3,950 3,385 3,413 3,154 3,103 Private creditors 223 255 246 543 522 502 480 535 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 21 12 15 41 34 31 27 21 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,213 763 893 1,004 887 976 1,132 1,967 Public and publicly guaranteed 1,213 763 893 1,004 887 976 1,132 1,967 Official creditors 1,123 677 827 989 887 976 1,132 1,757 Multilateral 822 494 650 821 814 750 1,019 1,470 of which: IBRD 0 0 0 0 0 0 0 0 IDA 464 198 357 615 547 398 602 820 Bilateral 301 183 177 168 73 226 113 287 Private creditors 90 86 67 14 0 0 0 210 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 22 0 15 14 0 0 0 2 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 344 530 513 463 570 472 750 772 Public and publicly guaranteed 344 530 513 463 570 472 750 772 Official creditors 310 423 482 433 556 448 726 674 Multilateral 62 104 168 290 290 328 382 445 of which: IBRD 2 5 5 7 0 0 0 0 IDA 13 41 82 141 153 172 193 213 Bilateral 248 319 314 143 265 120 344 230 Private creditors 34 107 31 30 14 24 23 98 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 2 0 4 3 5 5 5 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 151 176 171 184 199 172 184 218 Public and publicly guaranteed 151 176 171 184 199 172 184 218 Official creditors 140 167 160 179 198 170 182 205 Multilateral 51 87 93 130 133 137 144 162 of which: IBRD 4 4 2 0 0 0 0 0 IDA 28 42 47 67 70 70 72 77 Bilateral 89 80 67 49 64 33 38 42 Private creditors 11 9 12 5 2 2 2 13 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 2 0 1 1 1 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,595 305 -846 1,357 -1,211 1,576 1,324 1,786 Net flows on external debt 813 171 375 783 375 1,160 570 2,005 Cross-currency valuation 925 -243 -1,088 693 -1,616 461 730 -467 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 162 0 83 158 533 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 764 757 788 837 868 900 922 972 Interest 230 233 233 230 225 217 208 202 Private creditors Principal 102 103 99 96 86 63 25 14 Interest 16 15 12 9 6 3 2 1 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country. 59 BELARUS 1. Summary external debt data External debt stocks .. 1,694 2,140 4,029 4,737 5,352 10,341 12,299 Long-term external debt .. 1,302 787 1,084 1,233 1,697 3,463 5,340 Public and publicly guaranteed .. 1,301 689 744 786 842 2,338 3,752 Private nonguaranteed .. 0 98 339 448 855 1,125 1,589 Use of IMF credit .. 283 114 9 0 0 0 0 Short-term external debt .. 110 1,239 2,936 3,503 3,654 6,878 6,959 interest arrears on long-term .. 19 14 0 1 4 2 2 Memorandum items .. 140 29 1 37 22 10 4 .. 1,301 689 733 777 837 2,336 3,752 .. 0 98 351 456 860 1,127 1,589 .. 145 136 255 412 174 1,639 1,961 External debt flows Disbursements .. 441 249 308 648 747 2,532 2,709 Long-term external debt .. 258 249 308 648 747 2,532 2,709 IMF purchases .. 182 0 0 0 0 0 0 Principal repayments .. 108 261 257 519 483 757 826 Long-term external debt .. 108 206 240 510 483 757 826 IMF repurchases .. 0 56 17 9 0 0 0 Net flows .. 369 -89 1,014 695 412 5,000 1,965 Long-term external debt .. 150 43 68 138 264 1,775 1,883 Short-term external debt .. 36 -76 963 566 148 3,225 82 Interest payments .. 74 107 115 161 250 322 349 Long-term external debt .. 59 39 41 51 72 81 232 IMF charges .. 10 7 0 0 0 0 0 Short-term external debt .. 4 61 74 111 178 241 117 2. Other non-debt resource flows Foreign direct investment (net) .. 15 119 164 305 354 1,785 2,158 Portfolio equity flows .. 0 1 1 1 -1 5 1 Profit remittances on FDI .. 0 5 76 135 236 435 682 Grants (excluding technical coop.) .. 136 0 0 32 45 59 81 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 27 0 0 28 35 29 34 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 25.1 14.4 26.0 9.9 4.1 Japanese yen .. 2.3 2.2 1.7 1.1 0.7 0.1 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.7 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 50.8 48.9 61.6 71.8 61.1 85.5 93.4 4. Average terms of new commitments Official creditors Interest (%) .. 5.1 6.8 3.4 5.0 5.9 4.6 6.1 Maturity (years) .. 16.0 5.9 6.0 7.6 16.9 14.9 12.1 Grace period (years) .. 5.6 2.4 1.8 1.4 5.4 5.4 4.2 Private creditors Interest (%) .. 8.1 7.2 3.6 8.9 7.2 4.8 0.0 Maturity (years) .. 5.8 2.5 9.2 1.1 2.3 3.0 0.0 Grace period (years) .. 1.6 1.0 2.4 1.1 1.3 1.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 13,922 12,690 23,141 30,266 36,847 44,865 59,755 Exports of goods, services & income .. 5,300 7,667 15,847 18,350 22,478 27,897 37,459 Worker remit. & comp. of employees .. 29 139 257 255 340 354 448 Imports of goods & services .. 5,805 8,160 17,343 18,079 24,129 31,124 42,861 International reserves .. 377 350 837 1,342 1,386 4,179 3,063 Current account balance .. -458 -338 -1,193 436 -1,447 -3,036 -5,209 6. Ratios External debt stocks to exports (%) .. 32.0 27.9 25.4 25.8 23.8 37.1 32.8 External debt stocks to GNI (%) .. 12.2 16.9 17.4 15.6 14.5 23.0 20.6 Debt service to exports (%) .. 3.4 4.8 2.3 3.7 3.3 3.9 3.1 Short-term to external debt stocks (%) .. 6.5 57.9 72.9 74.0 68.3 66.5 56.6 Multilateral to external debt stocks (%) .. 11.1 10.1 3.1 1.7 1.2 0.5 0.4 Reserves to external debt stocks (%) .. 22.3 16.4 20.8 28.3 25.9 40.4 24.9 Reserves to imports (months) .. 0.8 0.5 0.6 0.9 0.7 1.6 0.9 60 BELARUS 7. Long-term external debt Debt outstanding and disbursed .. 1,302 787 1,084 1,233 1,697 3,463 5,340 Public and publicly guaranteed .. 1,301 689 744 786 842 2,338 3,752 Official creditors .. 769 400 480 566 571 2,076 3,580 Multilateral .. 188 217 124 81 65 52 50 of which: IBRD .. 116 105 73 59 50 42 42 IDA .. 0 0 0 0 0 0 0 Bilateral .. 582 183 356 485 506 2,023 3,529 Private creditors .. 532 289 265 219 271 262 172 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 46 56 36 57 102 107 68 Private nonguaranteed .. 0 98 339 448 855 1,125 1,589 of which: Bonds .. 0 0 0 0 0 19 19 Disbursements .. 258 249 308 648 747 2,532 2,709 Public and publicly guaranteed .. 258 143 198 254 207 1,717 1,568 Official creditors .. 131 25 181 188 74 1,596 1,563 Multilateral .. 77 25 2 7 5 7 16 of which: IBRD .. 11 6 2 7 5 7 16 IDA .. 0 0 0 0 0 0 0 Bilateral .. 54 0 179 181 69 1,589 1,547 Private creditors .. 127 118 16 66 133 121 5 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 20 48 1 34 83 96 0 Private nonguaranteed .. 0 106 111 395 540 815 1,141 of which: Bonds .. 0 0 0 0 0 19 0 Principal repayments .. 108 206 240 510 483 757 826 Public and publicly guaranteed .. 108 134 179 177 171 253 151 Official creditors .. 84 52 87 94 73 98 64 Multilateral .. 70 49 29 42 23 21 19 of which: IBRD .. 0 14 16 16 15 16 17 IDA .. 0 0 0 0 0 0 0 Bilateral .. 15 4 58 52 50 77 45 Private creditors .. 24 82 93 83 98 155 86 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 28 13 12 42 101 35 Private nonguaranteed .. 0 71 61 333 311 505 675 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 59 39 41 51 72 81 232 Public and publicly guaranteed .. 59 38 36 39 45 49 176 Official creditors .. 32 18 16 17 28 30 159 Multilateral .. 23 17 7 5 4 4 3 of which: IBRD .. 8 6 3 3 3 3 2 IDA .. 0 0 0 0 0 0 0 Bilateral .. 10 2 8 12 24 26 156 Private creditors .. 26 19 21 22 16 19 17 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 1 4 3 4 6 8 8 Private nonguaranteed .. 0 1 5 12 27 33 56 of which: Bonds .. 0 0 0 0 0 1 2 8. Debt stock-flow reconciliation Total change in external debt stocks .. 398 -122 797 708 615 4,989 1,958 Net flows on external debt .. 369 -89 1,014 695 412 5,000 1,965 Cross-currency valuation .. 28 -26 22 -33 16 32 -8 9. Debt restructurings Total amount rescheduled .. 0 50 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 92 89 152 210 362 462 421 321 Interest 97 105 143 135 122 104 84 67 Private creditors Principal 476 368 287 174 137 104 85 64 Interest 199 54 38 27 19 13 9 5 Notes: Short-term debt is based on reports provided by the National Bank of the Republic of Belarus. 61 BELIZE 1. Summary external debt data External debt stocks 143 255 612 957 1,003 1,018 1,056 1,031 Long-term external debt 136 219 562 957 997 1,012 1,050 1,024 Public and publicly guaranteed 136 219 553 923 972 992 1,036 1,015 Private nonguaranteed 0 0 8 34 25 20 14 10 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 6 36 50 0 6 7 6 7 interest arrears on long-term 1 1 0 0 6 7 6 7 Memorandum items 2 1 0 0 2 0 1 1 136 219 553 923 972 991 1,024 1,005 0 0 8 34 25 20 26 20 5 29 224 267 153 100 591 15 External debt flows Disbursements 18 31 223 223 210 84 597 23 Long-term external debt 18 31 223 223 210 84 597 23 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 12 25 41 259 160 70 561 48 Long-term external debt 9 25 41 259 160 70 561 48 IMF repurchases 3 0 0 0 0 0 0 0 Net flows 7 27 181 -116 50 14 37 -25 Long-term external debt 9 6 182 -36 50 14 37 -25 Short-term external debt 1 21 -1 -80 0 0 0 0 Interest payments 6 11 35 75 73 64 64 50 Long-term external debt 6 10 32 73 73 64 64 50 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 0 1 3 2 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 17 21 23 111 127 109 140 179 Portfolio equity flows 0 0 0 0 0 4 0 2 Profit remittances on FDI 7 8 31 42 35 52 87 103 Grants (excluding technical coop.) 4 8 11 6 9 9 15 18 of which: Debt forgiveness grants .. .. 0 3 2 2 1 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 13 12 5 5 6 5 5 4 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.7 1.4 1.4 1.3 0.8 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 23.6 10.0 1.8 0.6 0.4 0.4 0.3 0.2 Swiss franc 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 45.3 62.7 93.2 95.9 96.7 96.8 97.1 97.8 4. Average terms of new commitments Official creditors Interest (%) 5.0 5.9 6.3 3.0 0.0 2.9 5.2 4.1 Maturity (years) 10.0 17.9 21.1 20.5 0.0 9.9 22.3 23.8 Grace period (years) 2.5 3.9 5.3 4.8 0.0 2.2 5.6 5.7 Private creditors Interest (%) 0.0 8.6 9.5 7.2 4.7 0.0 4.2 4.3 Maturity (years) 0.0 4.8 8.1 7.9 7.1 0.0 21.9 22.0 Grace period (years) 0.0 0.3 3.0 7.8 1.6 0.0 12.2 12.5 5. Major economic aggregates Gross national income (GNI) 406 598 775 942 1,000 1,095 1,152 1,189 Exports of goods, services & income 269 314 464 579 675 858 901 934 Worker remit. & comp. of employees 18 14 22 35 46 65 75 78 Imports of goods & services 269 351 661 749 836 899 976 1,125 International reserves 70 38 123 48 71 114 109 166 Current account balance 15 -17 -162 -155 -151 -25 -52 -154 6. Ratios External debt stocks to exports (%) 53.1 81.2 131.8 165.2 148.7 118.7 117.2 110.4 External debt stocks to GNI (%) 35.1 42.7 78.9 101.6 100.3 93.0 91.7 86.7 Debt service to exports (%) 6.8 11.7 16.4 57.6 34.5 15.7 69.3 10.5 Short-term to external debt stocks (%) 4.3 14.0 8.2 0.0 0.6 0.6 0.6 0.6 Multilateral to external debt stocks (%) 40.2 35.1 22.2 23.1 21.6 21.5 22.2 22.2 Reserves to external debt stocks (%) 48.9 14.7 20.1 5.0 7.1 11.2 10.3 16.1 Reserves to imports (months) 3.1 1.3 2.2 0.8 1.0 1.5 1.3 1.8 62 BELIZE 7. Long-term external debt Debt outstanding and disbursed 136 219 562 957 997 1,012 1,050 1,024 Public and publicly guaranteed 136 219 553 923 972 992 1,036 1,015 Official creditors 118 175 225 292 311 372 341 335 Multilateral 57 89 136 221 216 219 234 229 of which: IBRD 18 30 40 39 35 30 25 21 IDA 0 0 0 0 0 0 0 0 Bilateral 61 86 89 71 95 153 106 105 Private creditors 18 44 328 631 661 620 696 680 of which: Bonds 0 0 75 375 482 466 24 24 Commercial banks 16 39 245 254 169 146 666 654 Private nonguaranteed 0 0 8 34 25 20 14 10 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 18 31 223 223 210 84 597 23 Public and publicly guaranteed 18 31 218 223 210 84 597 23 Official creditors 13 26 26 43 45 82 45 21 Multilateral 6 12 22 25 14 17 35 16 of which: IBRD 3 6 2 2 1 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 7 13 4 19 31 65 10 5 Private creditors 5 5 192 180 165 3 552 2 of which: Bonds 0 0 86 70 143 0 0 0 Commercial banks 5 5 96 110 12 3 552 2 Private nonguaranteed 0 0 5 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 9 25 41 259 160 70 561 48 Public and publicly guaranteed 9 25 41 257 158 66 555 43 Official creditors 7 18 20 26 23 22 78 26 Multilateral 3 7 9 16 17 15 21 21 of which: IBRD 1 2 4 5 4 5 5 5 IDA 0 0 0 0 0 0 0 0 Bilateral 4 11 11 9 6 7 57 6 Private creditors 2 8 22 231 135 44 477 17 of which: Bonds 0 0 11 3 36 16 441 1 Commercial banks 2 5 9 227 98 25 33 14 Private nonguaranteed 0 0 0 3 2 5 6 4 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 6 10 32 73 73 64 64 50 Public and publicly guaranteed 6 10 32 72 72 64 63 50 Official creditors 4 8 12 12 13 15 17 15 Multilateral 3 4 7 9 9 10 11 10 of which: IBRD 1 2 3 2 2 2 2 1 IDA 0 0 0 0 0 0 0 0 Bilateral 1 4 4 3 4 5 6 5 Private creditors 1 2 20 61 59 49 47 35 of which: Bonds 0 0 1 38 41 36 23 2 Commercial banks 1 2 18 23 18 12 23 33 Private nonguaranteed 0 0 0 0 1 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 6 56 220 -104 46 15 38 -26 Net flows on external debt 7 27 181 -116 50 14 37 -25 Cross-currency valuation 7 1 -2 2 -2 2 3 -2 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 7 Total amount forgiven 9 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 30 24 23 23 24 24 22 33 Interest 14 14 13 12 11 10 9 8 Private creditors Principal 18 38 14 37 8 8 8 5 Interest 34 32 29 27 25 25 24 24 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. 63 BENIN 1. Summary external debt data External debt stocks 1,291.8 1,614.0 1,590.9 1,925.0 1,841.5 813.3 859.0 986.3 Long-term external debt 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 Public and publicly guaranteed 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 17.9 84.1 83.9 65.3 52.8 2.6 4.2 22.4 Short-term external debt 55.4 46.9 65.2 28.6 44.0 44.1 5.2 37.6 interest arrears on long-term 20.5 7.9 0.0 4.6 5.0 5.1 5.2 4.6 Memorandum items 68.9 70.7 0.0 10.0 10.0 10.0 10.0 10.0 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85.1 110.6 109.3 215.0 126.3 68.8 204.7 144.8 External debt flows Disbursements 120.3 115.0 39.3 80.5 86.8 79.0 115.2 158.3 Long-term external debt 120.3 101.3 30.4 78.5 85.5 77.7 113.8 139.5 IMF purchases 0.0 13.7 9.0 2.0 1.3 1.3 1.3 18.9 Principal repayments 20.5 26.3 55.4 43.2 47.5 64.0 54.5 54.2 Long-term external debt 18.5 24.4 44.9 35.6 40.0 64.0 54.5 54.2 IMF repurchases 2.0 1.9 10.5 7.6 7.5 0.0 0.0 0.0 Net flows 91.8 104.7 -64.5 32.3 54.2 15.0 21.6 137.1 Long-term external debt 101.7 76.9 -14.5 42.9 45.4 13.7 59.3 85.3 Short-term external debt -8.0 16.0 -48.5 -5.0 15.0 0.0 -39.0 33.0 Interest payments 17.6 23.5 20.0 19.3 19.7 17.2 13.5 43.0 Long-term external debt 14.0 21.3 15.1 17.8 17.9 15.6 12.6 42.6 IMF charges 0.1 0.3 0.4 0.3 0.2 0.0 0.0 0.1 Short-term external debt 3.6 1.9 4.5 1.2 1.6 1.6 0.9 0.4 2. Other non-debt resource flows Foreign direct investment (net) 62.4 13.3 59.7 63.8 53.0 53.2 255.2 120.0 Portfolio equity flows 0.0 0.3 0.1 -2.9 2.3 0.3 4.9 0.0 Profit remittances on FDI 0.4 5.9 -0.8 13.5 9.0 14.8 52.9 0.0 Grants (excluding technical coop.) 110.1 149.0 147.6 330.1 216.4 1,185.1 298.1 415.7 of which: Debt forgiveness grants .. .. 32.7 88.8 22.5 1,008.0 10.8 9.8 IDA grants .. .. .. 0.0 0.0 0.0 19.2 9.3 Memo: technical coop. grants 49.0 61.5 67.9 87.4 91.7 109.7 81.3 85.4 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.5 6.6 11.2 10.7 9.3 Japanese yen 0.0 0.0 2.3 2.0 1.8 4.0 3.6 4.0 Pound sterling 0.9 0.4 0.3 0.3 0.2 0.5 0.4 0.3 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.8 51.8 60.9 57.9 57.0 42.8 39.6 33.9 4. Average terms of new commitments Official creditors Interest (%) 1.3 1.3 1.6 0.8 0.8 0.7 1.5 1.5 Maturity (years) 39.2 33.1 36.0 43.2 42.4 38.8 32.6 31.7 Grace period (years) 8.4 8.7 8.3 10.0 10.3 9.2 8.0 8.6 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,806.1 1,965.0 2,242.6 4,005.7 4,258.7 4,623.4 5,427.6 6,651.9 Exports of goods, services & income 464.8 730.2 632.4 861.1 934.6 1,162.6 1,619.1 .. Worker remit. & comp. of employees 101.0 100.0 87.0 63.0 172.7 224.0 224.0 271.0 Imports of goods & services 491.7 925.8 743.5 1,189.0 1,187.9 1,452.0 2,188.5 .. International reserves 69.2 197.9 458.1 640.0 656.8 912.2 1,209.2 1,260.5 Current account balance -18.1 -167.0 -80.6 -288.5 -226.1 -217.0 -535.2 .. 6. Ratios External debt stocks to exports (%) 277.9 221.1 251.6 223.5 197.0 70.0 53.1 .. External debt stocks to GNI (%) 71.5 82.1 70.9 48.1 43.2 17.6 15.8 14.8 Debt service to exports (%) 8.2 6.8 11.9 7.3 7.2 7.0 4.2 .. Short-term to external debt stocks (%) 4.3 2.9 4.1 1.5 2.4 5.4 0.6 3.8 Multilateral to external debt stocks (%) 41.6 54.0 59.7 73.4 72.0 49.1 59.3 63.0 Reserves to external debt stocks (%) 5.4 12.3 28.8 33.2 35.7 112.2 140.8 127.8 Reserves to imports (months) 1.7 2.6 7.4 6.5 6.6 7.5 6.6 .. 64 BENIN 7. Long-term external debt Debt outstanding and disbursed 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 Public and publicly guaranteed 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 Official creditors 1,201.8 1,478.9 1,439.0 1,826.9 1,744.7 766.6 849.6 926.2 Multilateral 536.8 871.4 949.9 1,412.4 1,326.3 399.2 509.3 621.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 326.0 498.3 578.4 791.4 770.8 126.1 175.6 255.4 Bilateral 665.0 607.5 489.1 414.5 418.4 367.4 340.3 304.6 Private creditors 16.7 4.1 2.8 4.2 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 120.3 101.3 30.4 78.5 85.5 77.7 113.8 139.5 Public and publicly guaranteed 120.3 101.3 30.4 78.5 85.5 77.7 113.8 139.5 Official creditors 120.3 101.3 30.4 78.5 85.5 77.7 113.8 139.5 Multilateral 91.1 83.5 28.8 78.5 85.1 56.4 111.3 132.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 55.6 30.8 36.5 41.7 49.2 31.9 42.5 84.1 Bilateral 29.2 17.8 1.6 0.0 0.4 21.3 2.5 7.1 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 18.5 24.4 44.9 35.6 40.0 64.0 54.5 54.2 Public and publicly guaranteed 18.5 24.4 44.9 35.6 40.0 64.0 54.5 54.2 Official creditors 18.4 24.3 44.9 35.6 36.2 64.0 54.5 54.2 Multilateral 18.4 16.5 15.3 17.5 21.1 26.4 16.2 15.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.8 3.4 3.9 5.2 6.4 7.6 0.0 0.0 Bilateral 0.0 7.8 29.6 18.1 15.1 37.5 38.4 39.0 Private creditors 0.1 0.1 0.0 0.0 3.8 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 14.0 21.3 15.1 17.8 17.9 15.6 12.6 42.6 Public and publicly guaranteed 14.0 21.3 15.1 17.8 17.9 15.6 12.6 42.6 Official creditors 13.9 21.3 15.1 17.8 17.7 15.6 12.6 42.6 Multilateral 12.8 8.5 9.4 12.8 13.0 11.1 7.9 21.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.1 3.6 3.8 5.6 6.0 3.8 1.4 1.7 Bilateral 1.2 12.7 5.7 5.0 4.7 4.5 4.7 20.9 Private creditors 0.1 0.0 0.0 0.0 0.2 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 49.6 24.7 -96.0 92.0 -83.4 -1,028.2 45.7 127.3 Net flows on external debt 91.8 104.7 -64.5 32.3 54.2 15.0 21.6 137.1 Cross-currency valuation 62.4 -4.0 -52.6 54.9 -118.7 -700.6 36.6 1.9 9. Debt restructurings Total amount rescheduled 12.4 5.5 53.3 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 125.5 139.5 4.8 13.1 13.6 1,022.7 0.0 5.9 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 58.6 61.1 61.2 63.9 67.9 42.9 41.5 39.1 Interest 12.5 13.1 13.3 13.3 13.0 12.3 11.5 10.7 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country. Benin was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 65 BHUTAN 1. Summary external debt data External debt stocks 83.5 105.8 203.8 593.3 649.2 713.3 775.0 692.4 Long-term external debt 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 Public and publicly guaranteed 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 3.3 0.6 1.5 0.0 12.5 16.0 0.0 0.0 interest arrears on long-term 0.3 0.6 0.0 0.0 4.5 0.0 0.0 0.0 Memorandum items 1.5 0.2 0.0 0.0 4.1 0.0 0.0 0.0 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24.0 85.1 64.4 60.3 25.0 896.6 0.0 External debt flows Disbursements 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 Long-term external debt 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.9 7.2 4.7 6.7 4.6 5.9 23.9 43.5 Long-term external debt 2.9 7.2 4.7 6.7 4.6 5.9 23.9 43.5 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 6.5 2.7 29.6 81.4 85.3 47.3 -8.0 4.9 Long-term external debt 5.5 2.7 30.1 85.8 77.3 39.3 8.0 4.9 Short-term external debt 1.0 0.0 -0.5 -4.4 8.0 8.0 -16.0 0.0 Interest payments 2.3 2.6 2.0 5.2 2.2 4.2 7.3 38.0 Long-term external debt 2.0 2.6 1.8 5.2 2.0 3.4 6.9 38.0 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 0.0 0.2 0.1 0.2 0.8 0.4 0.0 2. Other non-debt resource flows Foreign direct investment (net) 1.6 0.1 -0.1 3.5 9.0 6.1 78.3 30.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 16.9 39.5 20.6 42.5 49.4 67.0 55.0 63.0 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.5 1.1 16.3 15.8 2.9 Memo: technical coop. grants 23.7 27.1 21.8 21.7 21.2 21.2 20.0 14.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 10.3 9.6 10.9 11.1 11.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 43.1 28.6 17.7 17.6 18.2 19.2 19.0 22.4 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.3 3.1 10.6 0.8 1.4 9.5 0.8 Maturity (years) 0.0 33.4 32.1 19.7 28.6 32.0 19.3 38.9 Grace period (years) 0.0 11.2 10.5 8.3 7.1 8.5 7.6 9.4 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 297.7 291.6 418.7 663.8 756.7 852.3 1026.0 1393.5 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves 88.8 130.5 317.6 398.6 467.4 545.3 699.0 764.8 Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 28.1 36.3 48.7 89.4 85.8 83.7 75.5 49.7 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 3.9 0.5 0.8 0.0 1.9 2.2 0.0 0.0 Multilateral to external debt stocks (%) 50.1 64.5 49.4 28.6 27.3 27.4 28.9 34.4 Reserves to external debt stocks (%) 106.3 123.3 155.9 67.2 72.0 76.5 90.2 110.5 Reserves to imports (months) .. .. .. .. .. .. .. .. 66 BHUTAN 7. Long-term external debt Debt outstanding and disbursed 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 Public and publicly guaranteed 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 Official creditors 61.8 98.4 202.2 593.3 636.7 697.3 775.0 692.4 Multilateral 41.9 68.2 100.6 169.6 177.1 195.8 223.7 238.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 16.1 22.5 26.1 60.3 63.3 76.0 87.5 94.3 Bilateral 19.9 30.2 101.6 423.7 459.6 501.5 551.4 454.3 Private creditors 18.5 6.8 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 Public and publicly guaranteed 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 Official creditors 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 Multilateral 7.2 5.8 11.8 16.4 22.1 15.1 21.4 14.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.0 1.2 3.6 9.0 8.4 10.3 8.8 8.6 Bilateral 1.2 4.1 23.0 76.1 59.9 30.1 10.5 33.6 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.9 7.2 4.7 6.7 4.6 5.9 23.9 43.5 Public and publicly guaranteed 2.9 7.2 4.7 6.7 4.6 5.9 23.9 43.5 Official creditors 0.3 4.9 4.7 6.7 4.6 5.9 23.9 43.5 Multilateral 0.0 0.6 1.3 1.8 2.2 2.5 2.7 3.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.3 0.5 0.7 0.8 0.8 1.0 Bilateral 0.3 4.3 3.4 4.9 2.5 3.4 21.2 39.8 Private creditors 2.6 2.3 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.0 2.6 1.8 5.2 2.0 3.4 6.9 38.0 Public and publicly guaranteed 2.0 2.6 1.8 5.2 2.0 3.4 6.9 38.0 Official creditors 0.4 2.0 1.8 5.2 2.0 3.4 6.9 38.0 Multilateral 0.3 0.6 0.9 1.6 1.6 1.8 1.8 2.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.2 0.2 0.6 0.6 0.6 0.6 0.7 Bilateral 0.1 1.4 0.9 3.6 0.4 1.6 5.1 35.9 Private creditors 1.6 0.6 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 9.7 1.3 20.0 107.3 55.9 64.1 61.7 -82.6 Net flows on external debt 6.5 2.7 29.6 81.4 85.3 47.3 -8.0 4.9 Cross-currency valuation 1.1 -2.0 -10.6 22.7 -32.3 20.4 70.0 -88.2 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 54.6 58.3 58.4 58.9 59.2 60.8 124.6 103.1 Interest 48.3 54.4 54.8 52.2 48.3 43.7 81.6 70.0 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67 BOLIVIA, PLURINATIONAL STATE OF 1. Summary external debt data External debt stocks 4,275 5,272 5,785 6,222 6,908 5,799 4,993 5,537 Long-term external debt 3,864 4,698 5,163 5,642 6,482 5,564 4,816 5,371 Public and publicly guaranteed 3,687 4,459 4,137 4,557 4,568 3,177 2,194 2,403 Private nonguaranteed 177 239 1,026 1,085 1,914 2,388 2,621 2,969 Use of IMF credit 257 268 220 307 244 15 0 0 Short-term external debt 154 307 402 272 182 220 177 166 interest arrears on long-term 6 20 2 0 0 0 0 0 Memorandum items 31 30 19 0 0 0 0 0 3,687 4,459 3,759 4,530 4,545 3,159 2,185 2,393 177 239 1,403 1,112 1,937 2,406 2,631 2,978 549 684 180 479 551 185 1,061 1,174 External debt flows Disbursements 331 520 759 729 895 365 911 1,265 Long-term external debt 300 494 744 673 880 365 911 1,265 IMF purchases 31 26 15 56 14 0 0 0 Principal repayments 241 199 454 378 355 215 539 768 Long-term external debt 196 173 434 357 315 215 525 768 IMF repurchases 46 26 20 22 40 0 15 0 Net flows 32 341 294 291 449 189 329 487 Long-term external debt 104 321 309 317 565 150 386 498 Short-term external debt -57 20 -10 -60 -91 38 -43 -11 Interest payments 144 173 180 141 174 216 202 179 Long-term external debt 117 155 159 125 159 204 194 175 IMF charges 13 1 1 4 6 2 1 0 Short-term external debt 14 17 20 13 10 10 7 4 2. Other non-debt resource flows Foreign direct investment (net) 27 393 736 65 -239 281 366 512 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 17 24 148 292 271 392 644 681 Grants (excluding technical coop.) 202 328 231 803 294 2,081 1,591 424 of which: Debt forgiveness grants .. .. 24 527 38 1,819 1,176 3 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 108 217 147 240 240 303 109 138 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.7 1.5 2.6 4.2 3.6 Japanese yen 10.0 13.2 12.3 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.9 0.7 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 41.3 32.7 45.0 72.9 75.3 66.2 76.5 79.7 4. Average terms of new commitments Official creditors Interest (%) 4.1 3.8 4.2 3.2 4.9 4.1 2.7 3.7 Maturity (years) 29.5 29.1 28.6 17.7 21.6 24.9 22.8 19.9 Grace period (years) 7.9 7.8 7.9 4.5 5.6 5.8 5.2 5.3 Private creditors Interest (%) 9.4 6.7 7.4 0.0 0.0 0.0 5.0 4.8 Maturity (years) 5.8 5.6 5.8 0.0 0.0 0.0 2.0 2.7 Grace period (years) 1.5 1.0 0.8 0.0 0.0 0.0 2.0 2.0 5. Major economic aggregates Gross national income (GNI) 4,626 6,494 8,172 8,388 10,980 12,378 12,947 16,138 Exports of goods, services & income 998 1,264 1,711 2,817 3,705 5,156 6,348 8,391 Worker remit. & comp. of employees 5 7 127 211 346 612 1,065 1,144 Imports of goods & services 1,354 1,809 2,443 2,792 3,363 4,091 5,002 6,563 International reserves 511 1,005 1,184 1,271 1,795 3,194 5,314 7,720 Current account balance -199 -303 -446 337 622 1,317 1,591 2,015 6. Ratios External debt stocks to exports (%) 428.6 417.1 338.2 220.9 186.5 112.5 78.7 66.0 External debt stocks to GNI (%) 92.4 81.2 70.8 74.2 62.9 46.8 38.6 34.3 Debt service to exports (%) 38.6 29.4 37.1 18.4 14.3 8.4 11.7 11.3 Short-term to external debt stocks (%) 3.6 5.8 7.0 4.4 2.6 3.8 3.5 3.0 Multilateral to external debt stocks (%) 37.2 48.9 48.5 68.2 60.9 47.6 34.0 32.7 Reserves to external debt stocks (%) 12.0 19.1 20.5 20.4 26.0 55.1 106.4 139.4 Reserves to imports (months) 4.5 6.7 5.8 5.5 6.4 9.4 12.7 14.1 68 BOLIVIA, PLURINATIONAL STATE OF 7. Long-term external debt Debt outstanding and disbursed 3,864 4,698 5,163 5,642 6,482 5,564 4,816 5,371 Public and publicly guaranteed 3,687 4,459 4,137 4,557 4,568 3,177 2,194 2,403 Official creditors 3,362 4,396 4,103 4,531 4,545 3,157 2,167 2,313 Multilateral 1,589 2,579 2,803 4,245 4,210 2,762 1,698 1,812 of which: IBRD 194 95 0 0 0 0 0 0 IDA 393 770 1,096 1,750 1,673 233 259 281 Bilateral 1,773 1,817 1,300 286 336 395 469 502 Private creditors 325 63 33 26 23 20 28 89 of which: Bonds 35 17 0 0 0 0 10 10 Commercial banks 4 9 3 2 1 0 0 66 Private nonguaranteed 177 239 1,026 1,085 1,914 2,388 2,621 2,969 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 300 494 744 673 880 365 911 1,265 Public and publicly guaranteed 300 427 276 496 434 260 318 593 Official creditors 291 427 263 494 433 259 308 526 Multilateral 204 383 238 408 350 186 222 459 of which: IBRD 0 0 0 0 0 0 0 0 IDA 49 113 61 124 71 34 16 25 Bilateral 86 45 25 85 83 73 86 66 Private creditors 9 0 13 2 1 1 10 67 of which: Bonds 0 0 0 0 0 0 10 0 Commercial banks 0 0 0 0 0 0 0 66 Private nonguaranteed 0 67 468 177 447 105 593 673 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 196 173 434 357 315 215 525 768 Public and publicly guaranteed 172 155 153 181 184 207 165 376 Official creditors 163 147 149 180 182 202 161 372 Multilateral 117 120 118 171 169 188 145 352 of which: IBRD 21 26 12 0 0 0 0 0 IDA 2 2 0 8 8 12 0 1 Bilateral 46 27 32 9 13 14 16 20 Private creditors 9 8 4 2 2 4 4 5 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 4 1 1 1 1 0 0 Private nonguaranteed 24 18 281 175 131 8 360 392 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 117 155 159 125 159 204 194 175 Public and publicly guaranteed 103 137 112 79 100 112 103 98 Official creditors 101 133 111 78 99 112 103 98 Multilateral 69 100 82 75 94 102 92 88 of which: IBRD 15 9 1 0 0 0 0 0 IDA 3 6 1 12 12 7 2 2 Bilateral 32 33 29 3 5 10 11 10 Private creditors 2 4 1 0 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 1 0 0 0 0 0 0 Private nonguaranteed 14 19 47 46 59 92 91 77 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 143 396 237 420 686 -1,109 -806 544 Net flows on external debt 32 341 294 291 449 189 329 487 Cross-currency valuation 114 -33 -212 80 -195 -1,700 -70 -1 9. Debt restructurings Total amount rescheduled 153 196 0 0 0 0 0 0 Total amount forgiven 169 82 54 49 50 1,549 1,182 17 Debt buyback 4 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 173 206 197 199 235 231 230 226 Interest 80 83 82 79 73 67 59 53 Private creditors Principal 512 697 461 346 313 207 125 125 Interest 75 96 68 50 35 23 15 10 Notes: Bolivia was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 69 BOSNIA AND HERZEGOVINA 1. Summary external debt data External debt stocks .. .. 2,773 5,589 6,222 7,242 8,823 8,316 Long-term external debt .. .. 2,619 5,120 5,323 6,051 7,133 7,404 Public and publicly guaranteed .. .. 1,957 2,685 2,556 2,716 2,958 3,006 Private nonguaranteed .. .. 663 2,435 2,767 3,335 4,175 4,398 Use of IMF credit .. 48 105 109 62 20 2 0 Short-term external debt .. .. 49 360 837 1,171 1,687 912 interest arrears on long-term .. .. 1 0 0 0 0 0 Memorandum items .. .. 1 0 0 0 0 0 .. .. 1,957 2,685 2,556 2,716 2,958 3,006 .. .. 663 2,435 2,767 3,335 4,175 4,398 .. .. 197 162 120 616 232 302 External debt flows Disbursements .. .. 138 859 536 754 1,022 473 Long-term external debt .. .. 103 841 536 754 1,022 473 IMF purchases .. 46 36 18 0 0 0 0 Principal repayments .. .. 190 121 134 188 145 139 Long-term external debt .. .. 170 73 95 144 127 137 IMF repurchases .. 28 20 48 39 44 18 2 Net flows .. .. -41 986 879 899 1,392 -441 Long-term external debt .. .. -68 768 441 609 895 336 Short-term external debt .. .. 11 247 477 334 516 -775 Interest payments .. .. 127 128 151 183 290 296 Long-term external debt .. .. 119 120 136 176 217 256 IMF charges .. 5 5 3 3 2 1 0 Short-term external debt .. .. 3 5 12 4 73 39 2. Other non-debt resource flows Foreign direct investment (net) .. .. 146 710 608 722 2,111 1,056 Portfolio equity flows .. .. 0 0 0 0 0 0 Profit remittances on FDI .. .. 0 59 97 180 304 320 Grants (excluding technical coop.) .. 870 570 289 272 254 281 272 of which: Debt forgiveness grants .. .. 125 4 4 5 6 7 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 62 103 146 137 151 93 120 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 34.7 33.9 35.7 38.0 38.9 Japanese yen .. .. 0.0 1.2 1.2 1.3 1.2 1.5 Pound sterling .. .. 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. 2.3 2.0 1.7 1.2 1.2 1.2 U.S.dollars .. .. 27.6 39.6 41.3 40.9 40.1 39.1 4. Average terms of new commitments Official creditors Interest (%) .. .. 3.7 1.4 1.9 3.1 4.1 4.7 Maturity (years) .. .. 23.3 21.6 17.1 20.6 22.5 16.2 Grace period (years) .. .. 6.7 11.5 5.9 6.9 6.0 4.3 Private creditors Interest (%) .. .. 0.0 0.0 0.0 2.9 4.2 1.2 Maturity (years) .. .. 0.0 0.0 0.0 11.9 15.1 13.4 Grace period (years) .. .. 0.0 0.0 0.0 2.9 6.9 6.0 5. Major economic aggregates Gross national income (GNI) .. 1,625 6,096 10,506 11,216 12,726 15,640 18,962 Exports of goods, services & income .. .. 3,196 5,099 5,694 6,842 8,686 9,962 Worker remit. & comp. of employees .. .. 1,595 2,072 2,043 2,157 2,700 2,735 Imports of goods & services .. .. 4,234 7,259 8,103 8,468 11,049 13,539 International reserves .. .. 497 2,408 2,531 3,372 4,525 3,516 Current account balance .. .. -396 -1,639 -1,844 -981 -1,594 -2,764 6. Ratios External debt stocks to exports (%) .. .. 86.8 109.6 109.3 105.9 101.6 83.5 External debt stocks to GNI (%) .. .. 45.5 53.2 55.5 56.9 56.4 43.9 Debt service to exports (%) .. .. 9.9 4.9 5.0 5.4 5.0 4.4 Short-term to external debt stocks (%) .. .. 1.8 6.4 13.5 16.2 19.1 11.0 Multilateral to external debt stocks (%) .. .. 45.6 31.2 27.5 24.9 22.0 23.9 Reserves to external debt stocks (%) .. .. 17.9 43.1 40.7 46.6 51.3 42.3 Reserves to imports (months) .. .. 1.4 4.0 3.7 4.8 4.9 3.1 70 BOSNIA AND HERZEGOVINA 7. Long-term external debt Debt outstanding and disbursed .. .. 2,619 5,120 5,323 6,051 7,133 7,404 Public and publicly guaranteed .. .. 1,957 2,685 2,556 2,716 2,958 3,006 Official creditors .. .. 1,832 2,503 2,401 2,547 2,764 2,805 Multilateral .. .. 1,266 1,744 1,712 1,802 1,942 1,985 of which: IBRD .. 472 562 527 481 466 453 443 IDA .. 0 398 927 921 983 1,068 1,077 Bilateral .. .. 566 759 689 744 821 821 Private creditors .. .. 125 182 155 169 195 201 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 125 182 155 169 195 201 Private nonguaranteed .. .. 663 2,435 2,767 3,335 4,175 4,398 of which: Bonds .. .. 0 0 0 0 0 0 Disbursements .. .. 103 841 536 754 1,022 473 Public and publicly guaranteed .. .. 98 287 150 125 149 190 Official creditors .. .. 98 287 150 125 137 163 Multilateral .. .. 90 275 133 94 118 129 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 44 209 56 27 57 29 Bilateral .. .. 8 12 17 32 19 35 Private creditors .. .. 0 0 0 0 12 27 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 12 27 Private nonguaranteed .. .. 5 554 386 628 873 282 of which: Bonds .. .. 0 0 0 0 0 0 Principal repayments .. .. 170 73 95 144 127 137 Public and publicly guaranteed .. .. 170 51 54 67 79 91 Official creditors .. .. 170 51 51 63 72 82 Multilateral .. .. 166 35 44 56 63 71 of which: IBRD .. 0 0 24 24 24 24 25 IDA .. 0 0 0 0 4 9 12 Bilateral .. .. 3 15 7 8 9 11 Private creditors .. .. 0 0 3 3 7 9 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 3 3 7 9 Private nonguaranteed .. .. 1 22 41 78 48 46 of which: Bonds .. .. 0 0 0 0 0 0 Interest payments .. .. 119 120 136 176 217 256 Public and publicly guaranteed .. .. 89 47 53 61 70 80 Official creditors .. .. 86 42 48 56 63 70 Multilateral .. .. 74 29 35 43 49 54 of which: IBRD .. 0 33 15 17 23 26 26 IDA .. 0 3 6 7 8 8 8 Bilateral .. .. 13 13 13 13 14 16 Private creditors .. .. 2 5 6 6 6 10 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 2 5 6 6 6 10 Private nonguaranteed .. .. 30 73 83 114 147 176 of which: Bonds .. .. 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. 397 1,130 633 1,020 1,580 -506 Net flows on external debt .. .. -41 986 879 899 1,392 -441 Cross-currency valuation .. .. -116 115 -235 149 162 -51 9. Debt restructurings Total amount rescheduled .. .. 4 0 0 0 0 0 Total amount forgiven .. .. 0 0 0 0 0 0 Debt buyback .. .. 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 151 174 173 173 175 181 187 182 Interest 68 71 71 69 65 61 56 51 Private creditors Principal 1,193 878 788 470 376 276 232 190 Interest 181 132 97 67 48 34 24 15 Notes: Prior to 1999 data on long-term public and publicly guaranteed debt include only IBRD and IMF loans. Data on long-term private nonguaranteed debt from 2005 are World Bank staff estimates. 71 BOTSWANA 1. Summary external debt data External debt stocks 552.9 717.2 452.8 510.0 447.3 382.2 413.1 437.6 Long-term external debt 547.1 707.0 437.8 488.0 412.3 358.2 391.1 394.6 Public and publicly guaranteed 547.1 707.0 437.8 488.0 412.3 358.2 391.1 394.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 5.8 10.2 15.0 22.0 35.0 24.0 22.0 43.0 interest arrears on long-term 2.6 6.2 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items 2.7 9.0 1.0 0.0 0.0 0.0 0.0 0.0 547.1 676.4 432.4 488.0 412.3 358.2 391.1 394.6 0.0 30.5 5.4 0.0 0.0 0.0 0.0 0.0 80.6 0.0 0.0 20.0 0.0 74.7 49.5 0.0 External debt flows Disbursements 27.0 67.4 28.0 22.1 10.7 4.1 50.4 54.5 Long-term external debt 27.0 67.4 28.0 22.1 10.7 4.1 50.4 54.5 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 66.5 63.9 52.1 36.8 40.5 44.5 37.0 57.1 Long-term external debt 66.5 63.9 52.1 36.8 40.5 44.5 37.0 57.1 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows -39.4 4.0 -28.8 -21.7 -16.8 -51.4 11.4 18.4 Long-term external debt -39.5 3.4 -24.1 -14.7 -29.8 -40.4 13.4 -2.6 Short-term external debt 0.1 0.6 -4.7 -7.0 13.0 -11.0 -2.0 21.0 Interest payments 38.8 27.5 16.6 11.8 12.7 12.1 10.4 8.4 Long-term external debt 38.6 27.3 15.2 10.9 11.7 10.2 9.4 7.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 0.2 1.3 0.9 1.0 1.9 0.9 1.0 2. Other non-debt resource flows Foreign direct investment (net) 95.9 70.4 57.2 391.0 278.6 486.4 495.0 109.1 Portfolio equity flows 0.0 5.5 -5.9 0.6 61.6 35.9 9.4 -36.7 Profit remittances on FDI 406.9 415.7 657.9 1092.3 1065.7 1042.5 988.8 598.3 Grants (excluding technical coop.) 78.4 28.6 18.1 34.1 35.6 50.9 97.5 728.6 of which: Debt forgiveness grants .. .. 3.8 1.0 5.5 4.5 2.6 457.6 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 59.1 51.4 18.2 33.1 30.2 36.5 22.1 16.8 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.2 6.9 8.2 8.0 7.1 Japanese yen 4.4 11.1 11.4 17.4 17.1 10.4 13.3 13.7 Pound sterling 10.1 3.8 2.3 5.3 5.2 6.1 5.5 3.6 Swiss franc 0.0 0.1 0.1 0.2 0.1 0.0 0.0 0.0 U.S.dollars 11.9 13.4 18.0 19.9 20.5 20.8 18.3 25.6 4. Average terms of new commitments Official creditors Interest (%) 5.6 0.0 0.0 3.1 0.0 4.6 3.3 0.0 Maturity (years) 17.6 0.0 0.0 20.5 0.0 18.2 20.9 0.0 Grace period (years) 4.5 0.0 0.0 5.0 0.0 5.2 5.9 0.0 Private creditors Interest (%) 8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 11.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3685.7 4741.3 5825.9 8868.9 9664.4 10229.7 11730.5 12691.0 Exports of goods, services & income 2421.1 2903.8 3378.6 4744.0 5836.0 5899.7 6645.7 .. Worker remit. & comp. of employees 86.0 59.0 26.0 93.1 125.0 116.8 141.2 148.0 Imports of goods & services 2508.9 2565.3 3050.2 4910.4 4834.8 4752.5 5236.6 .. International reserves 3331.5 4695.5 6318.2 5661.4 6309.1 7992.4 9789.7 9118.6 Current account balance -19.3 299.7 545.2 308.9 1597.1 1939.8 2434.2 .. 6. Ratios External debt stocks to exports (%) 22.8 24.7 13.4 10.8 7.7 6.5 6.2 .. External debt stocks to GNI (%) 15.0 15.1 7.8 5.8 4.6 3.7 3.5 3.4 Debt service to exports (%) 4.3 3.1 2.0 1.0 0.9 1.0 0.7 .. Short-term to external debt stocks (%) 1.0 1.4 3.3 4.3 7.8 6.3 5.3 9.8 Multilateral to external debt stocks (%) 70.0 70.1 65.7 64.3 58.6 64.2 58.2 56.6 Reserves to external debt stocks (%) 602.5 654.7 1,395.5 1,110.0 1,410.5 2,091.3 2,369.9 2,083.6 Reserves to imports (months) 15.9 22.0 24.9 13.8 15.7 20.2 22.4 .. 72 BOTSWANA 7. Long-term external debt Debt outstanding and disbursed 547.1 707.0 437.8 488.0 412.3 358.2 391.1 394.6 Public and publicly guaranteed 547.1 707.0 437.8 488.0 412.3 358.2 391.1 394.6 Official creditors 519.7 660.0 409.9 474.0 400.6 348.8 384.0 388.8 Multilateral 387.1 502.9 297.4 327.7 262.0 245.2 240.4 247.6 of which: IBRD 155.2 96.3 15.6 3.4 2.1 1.1 0.0 0.0 IDA 13.6 11.5 9.1 7.2 6.7 6.3 5.8 5.3 Bilateral 132.7 157.2 112.5 146.3 138.6 103.6 143.6 141.2 Private creditors 27.4 47.0 27.9 14.0 11.7 9.4 7.1 5.9 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.0 32.8 19.9 8.7 7.1 5.5 3.9 3.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 27.0 67.4 28.0 22.1 10.7 4.1 50.4 54.5 Public and publicly guaranteed 27.0 67.4 28.0 22.1 10.7 4.1 50.4 54.5 Official creditors 27.0 67.4 24.3 22.1 10.7 4.1 50.4 54.5 Multilateral 20.5 23.3 7.9 4.5 0.2 1.5 7.9 43.9 of which: IBRD 7.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 6.5 44.0 16.4 17.6 10.5 2.6 42.5 10.5 Private creditors 0.0 0.0 3.8 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 3.8 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 66.5 63.9 52.1 36.8 40.5 44.5 37.0 57.1 Public and publicly guaranteed 66.5 63.9 52.1 36.8 40.5 44.5 37.0 57.1 Official creditors 48.0 57.7 45.3 36.0 38.2 42.2 34.7 55.8 Multilateral 36.6 48.3 33.2 25.5 28.3 30.0 24.8 25.9 of which: IBRD 19.0 23.7 7.4 1.7 1.1 1.1 1.1 0.0 IDA 0.3 0.5 0.5 0.5 0.5 0.5 0.5 0.5 Bilateral 11.4 9.4 12.1 10.5 9.8 12.2 9.8 29.9 Private creditors 18.5 6.2 6.9 0.8 2.3 2.3 2.3 1.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.2 4.5 6.2 0.2 1.6 1.6 1.6 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 38.6 27.3 15.2 10.9 11.7 10.2 9.4 7.4 Public and publicly guaranteed 38.6 27.3 15.2 10.9 11.7 10.2 9.4 7.4 Official creditors 35.6 24.2 13.9 10.7 11.5 10.0 9.2 7.3 Multilateral 27.8 21.0 11.1 7.8 7.8 6.9 5.8 4.6 of which: IBRD 14.2 8.6 1.2 0.2 0.1 0.1 0.0 0.0 IDA 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 Bilateral 7.8 3.2 2.9 2.9 3.7 3.0 3.4 2.7 Private creditors 3.0 3.0 1.3 0.2 0.2 0.3 0.2 0.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.1 2.2 0.7 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 3.1 16.8 -51.5 -3.6 -62.7 -65.1 30.9 24.5 Net flows on external debt -39.4 4.0 -28.8 -21.7 -16.8 -51.4 11.4 18.4 Cross-currency valuation 21.2 0.2 -10.5 4.0 -24.3 -4.2 1.3 20.7 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 27.6 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 36.6 34.4 45.8 33.7 29.4 26.6 26.0 21.9 Interest 8.4 7.8 7.0 5.9 5.1 4.5 3.9 3.3 Private creditors Principal 0.5 0.5 0.5 0.5 0.0 0.0 0.0 0.0 Interest 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country. 73 BRAZIL 1. Summary external debt data External debt stocks 119,732 160,469 241,552 219,499 187,431 193,516 237,472 255,614 Long-term external debt 94,196 129,090 208,811 169,203 163,438 173,191 198,224 218,962 Public and publicly guaranteed 87,525 98,260 96,130 96,818 93,933 84,302 79,957 73,623 Private nonguaranteed 6,671 30,830 112,682 72,384 69,505 88,889 118,267 145,339 Use of IMF credit 1,821 142 1,768 25,029 0 0 0 0 Short-term external debt 23,715 31,238 30,973 25,268 23,993 20,325 39,248 36,652 interest arrears on long-term 8,790 1,546 176 1 0 2 2 8 Memorandum items 3,597 3,936 1,821 19 18 4 6 5 86,955 97,392 95,684 95,442 92,583 83,101 78,595 72,481 7,241 31,698 113,127 73,761 70,855 90,090 119,628 146,481 3,012 7,606 30,534 10,034 12,627 9,038 7,008 11,866 External debt flows Disbursements 4,087 20,207 44,054 26,834 27,398 52,614 59,831 68,857 Long-term external debt 4,087 20,207 44,054 26,834 27,398 52,614 59,831 68,857 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 5,896 11,051 47,733 38,782 49,371 47,362 40,341 39,593 Long-term external debt 5,131 11,002 41,040 34,425 25,561 47,362 40,341 39,593 IMF repurchases 765 49 6,693 4,357 23,810 0 0 0 Net flows -1,710 8,797 -1,848 -11,275 -23,247 1,582 38,412 26,662 Long-term external debt -1,044 9,205 3,014 -7,591 1,837 5,252 19,489 29,264 Short-term external debt 99 -359 1,831 673 -1,274 -3,670 18,923 -2,602 Interest payments 2,260 10,522 17,111 14,707 13,271 14,783 14,978 15,827 Long-term external debt 2,029 8,719 15,280 11,549 10,292 13,148 13,016 14,688 IMF charges 231 10 336 1,208 1,079 109 0 0 Short-term external debt 0 1,792 1,494 1,950 1,900 1,526 1,962 1,138 2. Other non-debt resource flows Foreign direct investment (net) 989 4,859 32,779 18,166 15,066 18,782 34,585 45,058 Portfolio equity flows 103 2,775 3,076 2,081 6,451 7,716 26,217 -7,565 Profit remittances on FDI 1,892 2,814 4,238 6,860 11,035 13,884 19,692 28,773 Grants (excluding technical coop.) 41 65 54 91 113 94 155 211 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 145 239 187 200 194 207 251 244 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.9 9.5 10.4 9.8 9.7 Japanese yen 7.4 8.6 7.4 6.9 6.1 5.4 4.6 6.3 Pound sterling 1.8 1.8 1.0 0.4 0.3 0.3 0.0 0.1 Swiss franc 1.0 0.3 0.3 0.1 0.1 0.0 0.0 0.0 U.S.dollars 60.5 68.3 70.4 74.2 79.3 79.0 80.8 79.5 4. Average terms of new commitments Official creditors Interest (%) 7.4 5.9 5.7 3.0 4.5 5.0 4.9 3.9 Maturity (years) 15.2 19.9 8.6 16.9 18.5 17.3 15.1 23.9 Grace period (years) 4.1 4.9 1.2 3.8 4.3 4.4 3.9 3.6 Private creditors Interest (%) 9.0 7.7 9.9 7.2 8.7 7.5 9.1 5.5 Maturity (years) 8.0 3.3 15.4 12.8 14.5 15.2 17.6 14.3 Grace period (years) 3.2 2.1 14.2 11.5 14.0 15.1 17.5 13.9 5. Major economic aggregates Gross national income (GNI) 449,672 757,886 626,768 647,037 860,431 1,066,442 1,309,158 1,576,869 Exports of goods, services & income 36,854 58,989 69,317 114,716 140,030 166,598 198,905 243,816 Worker remit. & comp. of employees 573 3,315 1,649 3,575 3,540 4,253 4,382 5,089 Imports of goods & services 40,949 77,855 93,950 103,788 127,123 154,393 198,574 273,320 International reserves 9,200 51,477 33,015 52,935 53,799 85,843 180,334 193,784 Current account balance -3,823 -18,136 -24,225 11,738 13,985 13,621 1,551 -28,192 6. Ratios External debt stocks to exports (%) 324.9 272.0 348.5 191.3 133.9 116.2 119.4 104.8 External debt stocks to GNI (%) 26.6 21.2 38.5 33.9 21.8 18.1 18.1 16.2 Debt service to exports (%) 22.1 36.6 93.5 46.6 44.7 37.3 27.8 22.7 Short-term to external debt stocks (%) 19.8 19.5 12.8 11.5 12.8 10.5 16.5 14.3 Multilateral to external debt stocks (%) 9.5 5.8 7.6 8.9 10.3 11.2 9.7 7.3 Reserves to external debt stocks (%) 7.7 32.1 13.7 24.1 28.7 44.4 75.9 75.8 Reserves to imports (months) 2.7 7.9 4.2 6.1 5.1 6.7 10.9 8.5 74 BRAZIL 7. Long-term external debt Debt outstanding and disbursed 94,196 129,090 208,811 169,203 163,438 173,191 198,224 218,962 Public and publicly guaranteed 87,525 98,260 96,130 96,818 93,933 84,302 79,957 73,623 Official creditors 29,348 27,837 29,360 27,440 25,872 25,307 26,511 23,145 Multilateral 11,391 9,366 18,240 19,431 19,247 21,741 23,036 18,574 of which: IBRD 8,427 6,038 7,377 8,668 8,083 9,694 9,676 10,671 IDA 0 0 0 0 0 0 0 0 Bilateral 17,956 18,471 11,120 8,008 6,625 3,565 3,476 4,571 Private creditors 58,177 70,423 66,769 69,378 68,061 58,995 53,445 50,479 of which: Bonds 2,339 54,615 54,096 55,348 56,927 47,112 43,619 41,030 Commercial banks 47,461 12,159 11,484 13,215 10,468 11,862 9,193 8,242 Private nonguaranteed 6,671 30,830 112,682 72,384 69,505 88,889 118,267 145,339 of which: Bonds 0 11,290 16,846 38,376 35,969 38,764 45,311 37,855 Disbursements 4,087 20,207 44,054 26,834 27,398 52,614 59,831 68,857 Public and publicly guaranteed 3,212 8,111 19,639 12,730 13,192 11,114 6,695 16,002 Official creditors 1,322 2,005 5,257 2,784 3,324 4,146 2,566 3,750 Multilateral 1,001 1,257 4,468 1,937 2,324 3,753 2,472 2,566 of which: IBRD 782 838 1,692 1,447 773 2,203 606 1,726 IDA 0 0 0 0 0 0 0 0 Bilateral 321 747 790 847 1,000 392 94 1,184 Private creditors 1,890 6,107 14,381 9,946 9,868 6,969 4,129 12,252 of which: Bonds 200 1,661 10,836 5,743 8,252 5,614 2,977 9,254 Commercial banks 864 4,342 3,537 4,175 1,608 1,336 712 1,991 Private nonguaranteed 875 12,096 24,415 14,105 14,207 41,500 53,135 52,854 of which: Bonds 0 4,563 2,886 5,199 6,579 9,832 13,930 6,754 Principal repayments 5,131 11,002 41,040 34,425 25,561 47,362 40,341 39,593 Public and publicly guaranteed 4,123 6,522 17,226 13,218 9,255 24,448 13,999 15,591 Official creditors 1,956 3,719 7,048 5,440 3,301 4,538 2,276 1,674 Multilateral 1,518 1,683 4,308 3,414 1,757 1,496 1,664 1,071 of which: IBRD 1,251 1,377 887 1,564 1,029 743 805 812 IDA 0 0 0 0 0 0 0 0 Bilateral 439 2,035 2,740 2,025 1,544 3,042 612 602 Private creditors 2,167 2,804 10,178 7,778 5,954 19,911 11,723 13,917 of which: Bonds 71 919 8,397 5,707 4,187 17,801 7,866 11,952 Commercial banks 1,616 1,051 1,547 2,050 1,747 2,089 3,789 1,885 Private nonguaranteed 1,008 4,480 23,813 21,208 16,306 22,914 26,343 24,002 of which: Bonds 0 2,669 2,775 9,671 7,063 5,479 8,471 2,420 Interest payments 2,029 8,719 15,280 11,549 10,292 13,148 13,016 14,688 Public and publicly guaranteed 1,569 6,624 6,926 7,055 6,678 7,133 7,075 5,740 Official creditors 1,273 1,567 1,916 1,188 1,048 1,221 1,362 996 Multilateral 966 750 1,400 840 801 963 1,176 824 of which: IBRD 725 491 464 287 307 432 548 498 IDA 0 0 0 0 0 0 0 0 Bilateral 307 817 516 348 247 257 186 172 Private creditors 296 5,056 5,010 5,867 5,630 5,913 5,713 4,744 of which: Bonds 14 4,416 4,212 4,870 4,842 4,822 4,780 4,240 Commercial banks 46 376 759 994 785 1,088 904 458 Private nonguaranteed 460 2,095 8,355 4,494 3,614 6,014 5,940 8,948 of which: Bonds 0 837 1,562 3,046 2,161 3,799 3,454 2,842 8. Debt stock-flow reconciliation Total change in external debt stocks 5,375 8,075 -2,555 -15,317 -32,069 6,085 43,956 24,582 Net flows on external debt -1,710 8,797 -1,848 -11,275 -23,247 1,582 38,412 26,662 Cross-currency valuation 2,995 660 -2,445 2,676 -3,927 1,215 1,529 904 9. Debt restructurings Total amount rescheduled 1,316 234 0 86 4,271 0 28 258 Total amount forgiven 483 0 137 0 0 0 0 56 Debt buyback 776 0 6,342 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 2,748 2,573 2,750 2,950 2,571 2,158 2,089 1,823 Interest 850 797 727 642 548 466 392 320 Private creditors Principal 26,385 24,562 20,203 16,994 13,163 10,347 15,622 12,687 Interest 9,763 9,154 8,328 7,388 6,723 5,957 5,191 4,220 Notes: Short-term debt for 2008 is based on reports provided by the country. 75 BULGARIA 1. Summary external debt data External debt stocks 10,890 10,379 11,212 15,666 15,700 20,990 32,968 38,045 Long-term external debt 9,834 9,150 8,440 11,221 10,597 12,609 18,931 19,552 Public and publicly guaranteed 9,834 8,808 7,671 7,414 5,075 5,066 5,243 4,663 Private nonguaranteed 0 342 769 3,807 5,522 7,543 13,689 14,889 Use of IMF credit 0 717 1,322 1,183 660 341 0 0 Short-term external debt 1,056 512 1,450 3,262 4,442 8,040 14,036 18,493 interest arrears on long-term 226 74 0 26 0 0 0 0 Memorandum items 356 227 1 0 0 0 0 0 9,834 8,808 7,671 7,414 5,075 5,066 5,200 4,624 0 342 769 3,807 5,522 7,543 13,732 14,928 563 678 700 566 266 104 444 374 External debt flows Disbursements 875 259 995 3,054 3,710 3,616 7,741 7,141 Long-term external debt 875 259 719 2,977 3,710 3,616 7,741 7,141 IMF purchases 0 0 276 77 0 0 0 0 Principal repayments 865 565 712 1,806 3,352 1,992 3,033 3,408 Long-term external debt 865 319 573 1,674 2,909 1,645 2,686 3,408 IMF repurchases 0 246 139 132 443 346 347 0 Net flows -14 -194 465 1,823 1,564 5,222 10,705 8,189 Long-term external debt 11 -61 145 1,303 801 1,970 5,055 3,732 Short-term external debt -24 113 183 574 1,206 3,598 5,996 4,457 Interest payments 510 575 584 543 613 744 1,164 1,561 Long-term external debt 452 501 456 424 445 489 603 803 IMF charges 0 50 63 31 37 24 9 0 Short-term external debt 58 24 65 89 130 230 552 758 2. Other non-debt resource flows Foreign direct investment (net) 4 90 1,002 2,662 4,312 7,758 11,706 9,205 Portfolio equity flows 0 0 5 22 449 148 101 -106 Profit remittances on FDI 0 0 107 755 912 1,857 2,788 3,238 Grants (excluding technical coop.) 3 22 126 410 0 0 0 0 of which: Debt forgiveness grants .. .. 2 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 1 91 150 202 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 39.5 48.4 50.7 52.4 50.7 Japanese yen 6.6 9.0 5.5 3.5 5.1 6.5 7.4 12.2 Pound sterling 0.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 7.7 1.1 0.3 0.0 0.0 0.0 0.0 0.0 U.S.dollars 42.1 66.1 80.1 55.8 44.9 41.7 39.3 36.4 4. Average terms of new commitments Official creditors Interest (%) 9.3 5.9 6.2 2.8 3.0 3.7 4.8 4.3 Maturity (years) 7.2 17.3 15.7 15.3 16.2 16.1 16.8 16.8 Grace period (years) 3.0 5.4 4.4 4.8 4.7 2.6 4.5 4.0 Private creditors Interest (%) 9.1 3.4 7.6 8.9 4.2 5.0 0.0 2.0 Maturity (years) 3.2 4.7 16.0 9.4 9.4 10.0 0.0 29.2 Grace period (years) 2.3 3.2 4.9 4.9 1.9 0.5 0.0 9.2 5. Major economic aggregates Gross national income (GNI) 19,083 12,681 12,281 24,953 27,271 30,800 38,029 48,137 Exports of goods, services & income 7,070 6,926 7,321 15,936 18,136 22,392 27,581 33,704 Worker remit. & comp. of employees .. .. 58 1,723 1,613 1,716 2,132 2,634 Imports of goods & services 8,905 7,084 8,314 18,093 22,034 28,680 37,687 46,575 International reserves .. 1,635 3,507 9,337 8,697 11,756 17,545 17,930 Current account balance -1,710 -26 -703 -1,671 -3,347 -5,863 -10,040 -12,577 6. Ratios External debt stocks to exports (%) 154.0 149.9 153.2 98.3 86.6 93.7 119.5 112.9 External debt stocks to GNI (%) 57.1 81.8 91.3 62.8 57.6 68.1 86.7 79.0 Debt service to exports (%) 19.4 16.5 17.7 14.7 21.9 12.2 15.2 14.7 Short-term to external debt stocks (%) 9.7 4.9 12.9 20.8 28.3 38.3 42.6 48.6 Multilateral to external debt stocks (%) 2.0 11.9 13.8 16.8 15.7 11.4 8.2 5.8 Reserves to external debt stocks (%) .. 15.8 31.3 59.6 55.4 56.0 53.2 47.1 Reserves to imports (months) .. 2.8 5.1 6.2 4.7 4.9 5.6 4.6 76 BULGARIA 7. Long-term external debt Debt outstanding and disbursed 9,834 9,150 8,440 11,221 10,597 12,609 18,931 19,552 Public and publicly guaranteed 9,834 8,808 7,671 7,414 5,075 5,066 5,243 4,663 Official creditors 1,669 2,950 2,603 3,286 3,045 3,012 3,363 3,010 Multilateral 222 1,230 1,542 2,634 2,457 2,392 2,688 2,211 of which: IBRD 0 444 824 1,498 1,453 1,331 1,604 1,207 IDA 0 0 0 0 0 0 0 0 Bilateral 1,447 1,720 1,061 652 587 620 675 799 Private creditors 8,165 5,857 5,068 4,127 2,030 2,054 1,880 1,652 of which: Bonds 327 5,412 4,982 3,945 1,920 1,937 1,792 1,617 Commercial banks 7,084 394 26 105 111 116 86 34 Private nonguaranteed 0 342 769 3,807 5,522 7,543 13,689 14,889 of which: Bonds 0 0 0 315 526 736 855 522 Disbursements 875 259 719 2,977 3,710 3,616 7,741 7,141 Public and publicly guaranteed 875 259 405 435 402 260 369 361 Official creditors 80 129 381 400 383 243 362 353 Multilateral 44 38 156 373 328 150 307 227 of which: IBRD 0 15 71 204 200 38 201 56 IDA 0 0 0 0 0 0 0 0 Bilateral 36 91 225 27 55 93 55 126 Private creditors 795 129 24 35 19 17 7 8 of which: Bonds 65 33 0 0 0 0 0 0 Commercial banks 652 96 24 35 19 16 7 8 Private nonguaranteed 0 0 313 2,542 3,308 3,355 7,372 6,780 of which: Bonds 0 0 0 253 249 215 0 0 Principal repayments 865 319 573 1,674 2,909 1,645 2,686 3,408 Public and publicly guaranteed 865 319 345 981 1,761 515 404 731 Official creditors 23 92 297 273 255 502 299 713 Multilateral 22 25 58 179 214 430 253 659 of which: IBRD 0 0 27 80 85 276 65 462 IDA 0 0 0 0 0 0 0 0 Bilateral 1 67 239 93 41 73 47 54 Private creditors 842 228 48 708 1,507 13 105 19 of which: Bonds 0 39 46 696 1,496 0 87 0 Commercial banks 241 182 1 9 11 13 18 19 Private nonguaranteed 0 0 229 693 1,147 1,130 2,282 2,677 of which: Bonds 0 0 0 0 10 49 0 287 Interest payments 452 501 456 424 445 489 603 803 Public and publicly guaranteed 452 501 424 351 327 352 285 288 Official creditors 14 178 139 94 93 100 129 147 Multilateral 13 61 81 75 75 82 110 125 of which: IBRD 0 31 49 41 40 44 62 72 IDA 0 0 0 0 0 0 0 0 Bilateral 0 118 58 19 18 19 19 22 Private creditors 438 323 285 256 234 252 156 141 of which: Bonds 15 315 284 253 229 245 149 136 Commercial banks 337 7 0 4 5 7 7 5 Private nonguaranteed 0 0 32 73 118 137 318 514 of which: Bonds 0 0 0 5 30 44 55 36 8. Debt stock-flow reconciliation Total change in external debt stocks 753 550 192 2,314 33 5,290 11,978 5,077 Net flows on external debt -14 -194 465 1,823 1,564 5,222 10,705 8,189 Cross-currency valuation 617 107 -215 220 -488 280 299 -7 9. Debt restructurings Total amount rescheduled 0 84 0 0 0 0 0 0 Total amount forgiven 0 0 12 0 72 14 20 86 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 492 258 225 236 261 264 251 239 Interest 111 94 86 79 72 63 54 45 Private creditors Principal 3,092 2,782 2,200 1,665 2,297 910 2,278 1,300 Interest 486 468 387 322 294 202 125 60 Notes: Short-term debt is based on Central Bank data. 77 BURKINA FASO 1. Summary external debt data External debt stocks 832 1,271 1,422 1,990 1,994 1,123 1,456 1,681 Long-term external debt 748 1,140 1,226 1,851 1,868 999 1,263 1,517 Public and publicly guaranteed 748 1,140 1,226 1,851 1,868 999 1,263 1,517 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 75 112 115 104 35 37 54 Short-term external debt 84 56 84 24 22 89 155 110 interest arrears on long-term 21 12 5 0 0 0 0 0 Memorandum items 64 37 42 33 36 39 37 34 747 1,140 1,226 1,851 1,868 999 1,263 1,517 1 0 0 0 0 0 0 0 90 37 53 177 232 294 389 400 External debt flows Disbursements 77 139 99 256 218 301 226 330 Long-term external debt 77 112 91 250 203 282 225 311 IMF purchases 0 27 7 5 15 19 1 18 Principal repayments 19 28 33 35 28 32 25 30 Long-term external debt 18 28 26 32 24 32 25 30 IMF repurchases 1 0 7 3 4 0 0 0 Net flows 68 124 47 231 188 336 267 255 Long-term external debt 59 83 65 219 179 250 200 282 Short-term external debt 10 14 -19 10 -2 67 66 -45 Interest payments 16 20 14 17 17 17 16 17 Long-term external debt 10 18 12 16 16 16 12 14 IMF charges 0 0 1 1 0 0 0 0 Short-term external debt 6 2 1 1 1 2 5 3 2. Other non-debt resource flows Foreign direct investment (net) 0 10 23 14 34 34 344 137 Portfolio equity flows 0 0 -3 0 0 0 0 0 Profit remittances on FDI 6 0 3 0 0 0 0 0 Grants (excluding technical coop.) 158 242 378 408 430 1,668 654 652 of which: Debt forgiveness grants .. .. 190 56 41 1,217 17 21 IDA grants .. .. .. 1 22 36 90 20 Memo: technical coop. grants 112 123 76 103 96 127 111 97 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.3 1.7 6.2 6.6 12.9 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.5 0.3 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 39.1 55.5 59.4 58.8 56.5 40.3 39.2 35.9 4. Average terms of new commitments Official creditors Interest (%) 2.5 0.8 1.4 0.8 0.9 0.8 1.3 1.1 Maturity (years) 27.6 39.9 37.1 36.0 35.8 40.9 32.6 35.5 Grace period (years) 8.7 10.4 7.8 8.6 8.8 10.1 8.5 9.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 4.2 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 11.2 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 1.7 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,094 2,369 2,606 5,102 5,411 5,756 6,752 7,932 Exports of goods, services & income 506 .. 313 .. .. .. .. .. Worker remit. & comp. of employees 140 80 67 50 50 50 50 50 Imports of goods & services 776 .. 691 .. .. .. .. .. International reserves 305 347 244 669 438 555 1,029 926 Current account balance -77 .. -319 .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 164.3 .. 454.3 .. .. .. .. .. External debt stocks to GNI (%) 26.9 53.6 54.6 39.0 36.9 19.5 21.6 21.2 Debt service to exports (%) 6.8 .. 14.9 .. .. .. .. .. Short-term to external debt stocks (%) 10.1 4.4 5.9 1.2 1.1 7.9 10.7 6.5 Multilateral to external debt stocks (%) 67.7 77.2 72.0 84.3 85.2 69.8 67.3 71.7 Reserves to external debt stocks (%) 36.6 27.3 17.1 33.6 22.0 49.4 70.7 55.1 Reserves to imports (months) 4.7 .. 4.2 .. .. .. .. .. 78 BURKINA FASO 7. Long-term external debt Debt outstanding and disbursed 748 1,140 1,226 1,851 1,868 999 1,263 1,517 Public and publicly guaranteed 748 1,140 1,226 1,851 1,868 999 1,263 1,517 Official creditors 710 1,135 1,222 1,851 1,868 987 1,237 1,495 Multilateral 563 981 1,024 1,676 1,699 784 980 1,205 of which: IBRD 0 0 0 0 0 0 0 0 IDA 282 608 593 1,027 1,043 371 468 626 Bilateral 147 154 198 175 169 202 258 291 Private creditors 38 5 3 0 0 12 26 22 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 77 112 91 250 203 282 225 311 Public and publicly guaranteed 77 112 91 250 203 282 225 311 Official creditors 77 112 91 250 203 270 212 311 Multilateral 43 106 76 204 191 232 161 256 of which: IBRD 0 0 0 0 0 0 0 0 IDA 15 85 38 132 107 125 80 160 Bilateral 34 6 16 46 13 38 50 55 Private creditors 0 0 0 0 0 12 14 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 18 28 26 32 24 32 25 30 Public and publicly guaranteed 18 28 26 32 24 32 25 30 Official creditors 18 28 26 32 24 32 23 27 Multilateral 13 24 20 23 17 23 11 12 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 4 1 4 5 7 0 0 Bilateral 4 4 6 8 8 9 11 15 Private creditors 0 0 0 0 0 0 3 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 10 18 12 16 16 16 12 14 Public and publicly guaranteed 10 18 12 16 16 16 12 14 Official creditors 10 18 12 16 16 15 12 14 Multilateral 7 11 9 13 14 13 9 11 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 4 4 7 8 5 4 4 Bilateral 3 6 2 3 2 3 3 3 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 115 139 -161 260 5 -871 333 226 Net flows on external debt 68 124 47 231 188 336 267 255 Cross-currency valuation 25 -20 -229 50 -123 -876 6 -1 9. Debt restructurings Total amount rescheduled 0 0 17 112 1 4 0 1 Total amount forgiven 5 15 78 20 31 1,199 3 7 Debt buyback 0 0 92 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 51 49 49 53 62 67 71 77 Interest 20 21 22 22 22 21 21 20 Private creditors Principal 3 3 3 3 3 3 3 3 Interest 1 1 1 1 0 0 0 0 Notes: Burkina Faso was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 79 BURUNDI 1. Summary external debt data External debt stocks 907 1,162 1,108 1,390 1,322 1,412 1,456 1,445 Long-term external debt 851 1,099 1,036 1,327 1,230 1,291 1,344 1,308 Public and publicly guaranteed 851 1,099 1,036 1,327 1,230 1,291 1,344 1,308 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 43 48 7 41 58 83 98 117 Short-term external debt 13 15 65 23 34 38 14 19 interest arrears on long-term 0 2 20 20 33 37 13 4 Memorandum items 0 3 82 68 75 76 60 67 849 1,099 1,036 1,327 1,230 1,291 1,344 1,308 2 0 0 0 0 0 0 0 126 39 50 94 39 4 2 37 External debt flows Disbursements 96 45 41 86 63 60 42 47 Long-term external debt 96 45 41 47 42 39 31 25 IMF purchases 0 0 0 39 21 21 11 22 Principal repayments 28 27 14 71 27 29 28 31 Long-term external debt 28 18 9 43 27 29 28 31 IMF repurchases 1 9 5 29 0 0 0 0 Net flows 65 26 18 17 34 31 14 29 Long-term external debt 68 27 32 4 15 10 3 -6 Short-term external debt -3 8 -9 3 -2 0 0 14 Interest payments 14 12 8 17 12 10 11 11 Long-term external debt 12 11 4 16 12 9 11 10 IMF charges 0 0 0 0 0 0 0 1 Short-term external debt 2 1 3 0 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 1 2 12 0 1 0 1 4 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 3 3 0 6 2 3 5 5 Grants (excluding technical coop.) 135 229 59 264 287 324 421 436 of which: Debt forgiveness grants .. .. 6 7 14 4 24 44 IDA grants .. .. .. 14 23 68 61 52 Memo: technical coop. grants 60 44 15 27 39 50 40 63 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.0 11.1 11.4 11.9 10.0 Japanese yen 2.0 2.9 2.8 1.5 1.4 0.7 0.7 1.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.3 55.1 59.4 60.9 61.8 61.3 60.4 60.2 4. Average terms of new commitments Official creditors Interest (%) 0.9 0.8 1.7 0.8 0.8 0.0 1.5 1.0 Maturity (years) 40.4 38.0 31.3 40.0 47.8 19.6 22.5 19.5 Grace period (years) 10.3 9.9 8.2 10.5 10.2 10.1 4.7 6.4 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,117 988 723 646 776 910 974 1,159 Exports of goods, services & income 98 140 55 66 99 97 98 150 Worker remit. & comp. of employees .. .. .. 0 0 0 0 4 Imports of goods & services 341 282 165 253 344 460 449 544 International reserves 112 216 38 66 101 131 177 267 Current account balance -69 10 -50 -32 -6 -134 -110 -212 6. Ratios External debt stocks to exports (%) 928.7 831.6 1,999.7 2,119.8 1,337.7 1,450.3 1,478.4 960.6 External debt stocks to GNI (%) 81.2 117.6 153.2 215.1 170.3 155.1 149.5 124.7 Debt service to exports (%) 43.4 27.6 39.4 134.0 39.8 40.1 40.0 28.1 Short-term to external debt stocks (%) 1.5 1.3 5.9 1.6 2.6 2.7 0.9 1.3 Multilateral to external debt stocks (%) 72.7 80.1 80.4 81.8 80.3 79.6 80.9 80.6 Reserves to external debt stocks (%) 12.3 18.6 3.4 4.8 7.6 9.3 12.2 18.5 Reserves to imports (months) 3.9 9.2 2.7 3.1 3.5 3.4 4.7 5.9 80 BURUNDI 7. Long-term external debt Debt outstanding and disbursed 851 1,099 1,036 1,327 1,230 1,291 1,344 1,308 Public and publicly guaranteed 851 1,099 1,036 1,327 1,230 1,291 1,344 1,308 Official creditors 842 1,098 1,032 1,320 1,227 1,291 1,343 1,308 Multilateral 660 930 890 1,137 1,062 1,124 1,178 1,165 of which: IBRD 0 0 0 0 0 0 0 0 IDA 398 591 600 793 751 797 830 819 Bilateral 182 167 142 183 166 167 166 144 Private creditors 9 2 4 7 2 1 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 96 45 41 47 42 39 31 25 Public and publicly guaranteed 96 45 41 47 42 39 31 25 Official creditors 93 45 38 47 42 37 31 25 Multilateral 64 41 38 47 42 37 30 24 of which: IBRD 0 0 0 0 0 0 0 0 IDA 49 27 36 43 27 29 19 14 Bilateral 30 4 0 0 0 0 2 0 Private creditors 2 0 3 0 0 2 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 28 18 9 43 27 29 28 31 Public and publicly guaranteed 28 18 9 43 27 29 28 31 Official creditors 19 17 9 38 23 25 28 31 Multilateral 11 12 9 38 22 25 27 30 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 3 9 14 9 16 18 20 Bilateral 8 5 0 0 0 0 1 1 Private creditors 8 1 0 5 5 4 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 12 11 4 16 12 9 11 10 Public and publicly guaranteed 12 11 4 16 12 9 11 10 Official creditors 11 11 4 16 12 9 11 10 Multilateral 9 9 4 15 12 9 9 9 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 5 4 6 4 6 6 7 Bilateral 2 2 0 1 0 1 2 1 Private creditors 1 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 18 35 -27 62 -69 90 44 -11 Net flows on external debt 65 26 18 17 34 31 14 29 Cross-currency valuation 26 -30 -38 45 -93 51 58 -6 9. Debt restructurings Total amount rescheduled 0 0 0 54 0 4 3 0 Total amount forgiven 105 17 0 2 11 8 22 48 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 47 42 42 42 46 46 48 49 Interest 10 9 9 9 9 8 8 8 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $21,071 in thousands and $22,871 in thousands respectively. 81 CAMBODIA 1. Summary external debt data External debt stocks 1,845 2,284 2,628 3,439 3,515 3,527 3,761 4,215 Long-term external debt 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 Public and publicly guaranteed 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 27 72 73 97 81 0 0 0 Short-term external debt 136 102 227 262 279 209 224 323 interest arrears on long-term 103 90 131 228 243 173 164 197 Memorandum items 393 653 1,275 1,444 1,485 1,508 1,545 1,599 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 0 0 0 0 0 0 0 0 0 161 185 218 208 149 390 305 External debt flows Disbursements 0 123 90 168 168 153 154 383 Long-term external debt 0 80 79 168 168 153 154 383 IMF purchases 0 42 11 0 0 0 0 0 Principal repayments 0 5 14 15 16 15 13 19 Long-term external debt 0 5 7 5 8 15 13 19 IMF repurchases 0 0 7 10 9 0 0 0 Net flows 15 100 128 172 154 138 165 430 Long-term external debt 0 75 72 163 160 138 141 364 Short-term external debt 15 -18 52 20 2 0 24 66 Interest payments 30 3 18 12 15 15 18 23 Long-term external debt 29 1 12 11 12 13 15 21 IMF charges 0 1 1 0 0 0 0 0 Short-term external debt 1 1 5 1 2 2 3 2 2. Other non-debt resource flows Foreign direct investment (net) 0 151 149 131 381 483 867 815 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 -4 123 205 227 270 353 403 Grants (excluding technical coop.) 23 312 201 184 229 332 417 431 of which: Debt forgiveness grants .. .. 0 0 0 84 1 0 IDA grants .. .. .. 1 2 6 23 19 Memo: technical coop. grants 19 143 100 155 182 181 131 150 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.9 0.8 0.8 0.9 0.9 Japanese yen 0.6 0.4 0.3 1.2 1.1 1.2 1.5 2.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 12.6 27.2 30.2 39.2 39.4 39.0 39.0 40.1 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.8 1.3 0.9 1.4 1.0 1.5 1.2 Maturity (years) 0.0 37.5 30.3 30.3 26.9 26.2 23.6 29.4 Grace period (years) 0.0 9.7 8.2 8.9 9.2 9.8 7.7 8.6 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 3,182 3,623 5,289 6,200 7,003 7,997 9,166 Exports of goods, services & income .. 989 1,993 3,586 4,256 5,260 5,932 6,651 Worker remit. & comp. of employees .. 12 121 177 200 297 353 325 Imports of goods & services .. 1,442 2,453 4,053 4,923 5,971 6,864 8,112 International reserves .. 192 611 1,118 1,158 1,411 2,140 2,639 Current account balance .. -186 -136 -183 -307 -261 -543 -1,053 6. Ratios External debt stocks to exports (%) .. 230.9 131.9 95.9 82.6 67.1 63.4 63.4 External debt stocks to GNI (%) .. 71.8 72.5 65.0 56.7 50.4 47.0 46.0 Debt service to exports (%) .. 0.7 1.6 0.8 0.7 0.6 0.5 0.6 Short-term to external debt stocks (%) 7.3 4.5 8.6 7.6 7.9 5.9 6.0 7.7 Multilateral to external debt stocks (%) 0.1 5.2 14.5 29.5 30.1 33.1 34.5 33.7 Reserves to external debt stocks (%) .. 8.4 23.3 32.5 32.9 40.0 56.9 62.6 Reserves to imports (months) .. 1.6 3.0 3.3 2.8 2.8 3.7 3.9 82 CAMBODIA 7. Long-term external debt Debt outstanding and disbursed 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 Public and publicly guaranteed 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 Official creditors 1,683 2,097 2,328 3,080 3,155 3,318 3,537 3,892 Multilateral 1 118 381 1,013 1,059 1,168 1,298 1,420 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 65 207 467 462 500 535 545 Bilateral 1,681 1,979 1,947 2,066 2,096 2,150 2,239 2,472 Private creditors 0 13 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 0 80 79 168 168 153 154 383 Public and publicly guaranteed 0 80 79 168 168 153 154 383 Official creditors 0 64 79 168 168 153 154 383 Multilateral 0 61 78 119 130 79 78 145 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 25 37 48 36 19 18 20 Bilateral 0 4 1 49 38 74 76 238 Private creditors 0 16 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 0 5 7 5 8 15 13 19 Public and publicly guaranteed 0 5 7 5 8 15 13 19 Official creditors 0 2 7 5 8 15 13 19 Multilateral 0 0 0 3 5 9 11 17 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 1 2 4 5 6 Bilateral 0 2 7 2 2 6 2 2 Private creditors 0 3 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 29 1 12 11 12 13 15 21 Public and publicly guaranteed 29 1 12 11 12 13 15 21 Official creditors 29 1 12 11 12 13 15 21 Multilateral 0 1 3 9 10 10 11 13 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 1 4 4 4 4 4 Bilateral 29 0 9 2 3 3 4 8 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 0 375 111 246 76 11 234 454 Net flows on external debt 15 100 128 172 154 138 165 430 Cross-currency valuation 0 0 -28 49 -111 52 72 -78 9. Debt restructurings Total amount rescheduled 0 224 0 0 0 0 1 0 Total amount forgiven 0 13 0 0 0 22 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 53 57 68 75 88 114 122 127 Interest 34 36 37 37 36 36 34 33 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Cambodia was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 83 CAMEROON 1. Summary external debt data External debt stocks 6,555 10,942 10,316 10,290 7,260 3,229 2,946 2,794 Long-term external debt 5,498 9,900 8,857 9,409 6,654 2,718 2,730 2,765 Public and publicly guaranteed 5,268 9,612 8,540 8,776 6,061 2,229 2,094 2,129 Private nonguaranteed 230 288 317 632 592 489 636 636 Use of IMF credit 121 51 235 333 272 8 17 24 Short-term external debt 936 991 1,224 548 334 502 200 5 interest arrears on long-term 168 349 205 155 280 434 1 5 Memorandum items 309 474 322 80 51 91 1 19 5,145 9,535 8,493 8,776 6,061 2,229 2,094 2,129 353 365 364 632 592 489 636 636 479 197 100 208 47 41 449 147 External debt flows Disbursements 704 174 354 274 231 162 270 288 Long-term external debt 704 161 286 274 227 158 262 279 IMF purchases 0 13 69 0 4 4 8 8 Principal repayments 269 217 270 362 577 379 371 258 Long-term external debt 268 211 253 339 538 358 371 258 IMF repurchases 1 6 17 23 39 21 0 0 Net flows 672 117 -21 20 -684 -203 30 -170 Long-term external debt 436 -50 33 -65 -311 -199 -109 21 Short-term external debt 237 160 -105 109 -339 14 131 -199 Interest payments 247 214 288 246 245 140 143 119 Long-term external debt 194 173 215 232 231 136 135 115 IMF charges 11 2 2 2 1 0 0 0 Short-term external debt 42 38 72 12 12 4 8 5 2. Other non-debt resource flows Foreign direct investment (net) -113 7 159 86 234 16 284 38 Portfolio equity flows 0 0 0 -8 -4 -6 -14 -1 Profit remittances on FDI 138 21 41 186 289 10 385 172 Grants (excluding technical coop.) 313 205 169 618 335 3,015 1,794 858 of which: Debt forgiveness grants .. .. 90 428 208 2,722 1,365 497 IDA grants .. .. .. 0 0 29 12 1 Memo: technical coop. grants 126 124 93 151 149 179 196 159 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 71.7 66.1 77.3 73.1 67.5 Japanese yen 0.3 0.3 0.5 1.1 1.3 0.0 0.0 0.0 Pound sterling 2.4 1.2 2.0 1.7 1.7 0.0 0.0 0.0 Swiss franc 1.2 1.1 0.7 0.8 0.7 0.4 0.3 0.3 U.S.dollars 11.2 9.6 24.4 17.0 20.9 10.6 12.7 13.7 4. Average terms of new commitments Official creditors Interest (%) 6.6 2.6 0.9 1.5 0.4 1.4 0.9 0.7 Maturity (years) 15.3 23.3 38.6 33.0 30.7 24.3 37.2 37.0 Grace period (years) 5.3 7.7 9.5 7.9 9.2 5.6 8.6 9.3 Private creditors Interest (%) 7.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 13.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 10,674 8,205 9,464 15,374 16,126 17,706 20,612 23,072 Exports of goods, services & income 2,535 2,062 2,614 4,040 4,064 4,685 5,164 .. Worker remit. & comp. of employees 23 11 11 103 77 130 167 167 Imports of goods & services 3,041 2,032 2,960 4,725 5,010 5,031 5,974 .. International reserves 37 15 220 842 965 1,735 2,932 3,112 Current account balance -551 90 -249 -626 -777 -151 -547 .. 6. Ratios External debt stocks to exports (%) 258.6 530.7 394.6 254.7 178.6 68.9 57.0 .. External debt stocks to GNI (%) 61.4 133.3 109.0 66.9 45.0 18.2 14.3 12.1 Debt service to exports (%) 20.4 20.9 21.4 15.0 20.2 11.1 10.0 .. Short-term to external debt stocks (%) 14.3 9.1 11.9 5.3 4.6 15.6 6.8 0.2 Multilateral to external debt stocks (%) 20.1 15.3 13.7 16.8 21.7 15.6 18.8 21.8 Reserves to external debt stocks (%) 0.6 0.1 2.1 8.2 13.3 53.7 99.5 111.4 Reserves to imports (months) 0.1 0.1 0.9 2.1 2.3 4.1 5.9 .. 84 CAMEROON 7. Long-term external debt Debt outstanding and disbursed 5,498 9,900 8,857 9,409 6,654 2,718 2,730 2,765 Public and publicly guaranteed 5,268 9,612 8,540 8,776 6,061 2,229 2,094 2,129 Official creditors 3,801 8,726 8,219 8,684 5,975 2,165 2,091 2,127 Multilateral 1,318 1,679 1,414 1,732 1,578 502 553 609 of which: IBRD 651 639 218 117 84 46 40 35 IDA 238 443 769 1,083 1,032 170 198 225 Bilateral 2,483 7,047 6,805 6,952 4,397 1,662 1,538 1,518 Private creditors 1,467 885 320 92 87 65 2 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 390 300 175 48 43 46 2 2 Private nonguaranteed 230 288 317 632 592 489 636 636 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 704 161 286 274 227 158 262 279 Public and publicly guaranteed 651 161 247 200 130 119 180 192 Official creditors 546 161 247 200 130 118 180 192 Multilateral 200 81 115 177 68 84 83 106 of which: IBRD 75 6 0 5 0 0 0 0 IDA 0 35 55 107 31 29 20 29 Bilateral 347 80 133 23 62 34 97 86 Private creditors 105 0 0 0 0 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 10 0 0 0 0 1 0 0 Private nonguaranteed 53 0 39 74 98 39 82 87 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 268 211 253 339 538 358 371 258 Public and publicly guaranteed 138 183 166 290 397 197 188 66 Official creditors 96 146 162 290 397 197 169 66 Multilateral 68 130 97 87 92 88 40 40 of which: IBRD 42 91 53 34 32 39 5 5 IDA 3 4 7 10 12 8 0 1 Bilateral 28 16 66 203 304 108 129 26 Private creditors 41 36 4 0 0 0 19 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 28 25 4 0 0 0 16 0 Private nonguaranteed 130 28 86 49 141 161 183 192 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 194 173 215 232 231 136 135 115 Public and publicly guaranteed 177 163 198 184 181 79 93 70 Official creditors 122 152 198 184 180 79 70 70 Multilateral 73 80 48 33 27 20 16 14 of which: IBRD 49 56 22 7 5 4 2 2 IDA 2 3 5 9 8 5 2 2 Bilateral 49 72 149 151 153 59 54 56 Private creditors 55 10 1 0 1 0 23 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 39 5 1 0 0 0 23 0 Private nonguaranteed 17 11 17 48 51 57 42 44 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,198 1,687 -238 -592 -3,031 -4,031 -282 -152 Net flows on external debt 672 117 -21 20 -684 -203 30 -170 Cross-currency valuation 326 363 -500 583 -999 -631 231 -57 9. Debt restructurings Total amount rescheduled 75 1,070 206 54 68 20 1 0 Total amount forgiven 10 0 6 271 164 4,037 144 16 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 228 180 174 134 132 129 129 111 Interest 62 55 50 46 43 40 37 34 Private creditors Principal 113 113 90 81 71 43 39 35 Interest 33 40 33 26 21 17 14 11 Notes: Cameroon was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. Data on public and publicly guaranteed debt include World Bank staff estimates of the effects of the Paris Club debt restructuring agreements signed in 2006. Historical data on public and publicly guaranteed debt have been revised based on reports provided by the country. 85 CAPE VERDE 1. Summary external debt data External debt stocks 133.8 213.8 316.5 461.6 475.2 522.1 578.7 624.6 Long-term external debt 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 Public and publicly guaranteed 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 9.6 12.3 13.0 13.5 12.4 Short-term external debt 4.7 29.2 3.9 1.0 0.9 0.7 1.3 1.4 interest arrears on long-term 2.3 4.6 3.9 1.0 0.9 0.7 1.3 1.4 Memorandum items 11.1 19.6 32.2 2.6 3.2 2.4 2.4 2.4 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35.9 11.5 23.4 36.0 88.8 27.4 209.9 211.1 External debt flows Disbursements 12.1 21.4 28.8 29.7 77.9 48.9 51.1 74.8 Long-term external debt 12.1 21.4 28.8 27.9 74.3 48.9 51.1 74.8 IMF purchases 0.0 0.0 0.0 1.8 3.7 0.0 0.0 0.0 Principal repayments 3.7 5.6 11.1 17.8 28.6 25.0 22.7 24.5 Long-term external debt 3.7 5.6 11.1 17.8 28.6 25.0 22.5 23.7 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.8 Net flows 10.7 34.4 2.0 11.9 49.3 23.9 28.4 50.4 Long-term external debt 8.3 15.8 17.7 10.1 45.7 23.9 28.6 51.1 Short-term external debt 2.4 18.7 -15.7 0.0 0.0 0.0 0.0 0.0 Interest payments 2.0 4.1 4.7 5.9 6.8 6.3 6.4 6.6 Long-term external debt 1.9 3.4 4.7 5.9 6.8 6.2 6.4 6.5 IMF charges 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 Short-term external debt 0.1 0.8 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 0.3 26.2 33.4 67.6 80.4 131.8 191.9 211.3 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.3 2.2 0.0 Profit remittances on FDI 0.0 0.5 5.1 3.8 10.9 24.1 28.2 38.2 Grants (excluding technical coop.) 77.5 61.4 43.4 70.8 74.3 58.6 79.9 113.5 of which: Debt forgiveness grants .. .. 0.3 0.4 0.1 0.1 0.1 0.1 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 18.0 40.4 29.5 42.7 43.0 43.1 46.1 54.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.7 13.4 15.0 16.1 18.2 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 38.5 35.3 55.8 57.4 54.1 53.3 49.6 48.5 4. Average terms of new commitments Official creditors Interest (%) 1.5 0.8 1.4 2.7 3.5 2.9 1.3 2.4 Maturity (years) 42.6 39.8 35.1 26.9 32.5 38.1 25.7 27.0 Grace period (years) 9.1 10.3 8.9 6.0 8.4 9.0 8.2 6.8 Private creditors Interest (%) 0.0 0.0 5.7 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 10.6 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 2.2 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 340.5 485.3 520.0 907.0 972.7 1156.7 1420.1 1702.7 Exports of goods, services & income 119.3 191.4 236.6 427.0 514.0 632.9 737.8 898.8 Worker remit. & comp. of employees 59.0 106.0 87.0 113.4 136.6 136.6 138.9 155.1 Imports of goods & services 153.1 300.7 343.6 678.3 699.0 868.8 1099.0 1265.2 International reserves 77.0 36.9 28.3 139.5 174.0 254.5 281.2 258.5 Current account balance -3.8 -61.6 -58.0 -130.0 -40.7 -82.7 -198.3 -205.5 6. Ratios External debt stocks to exports (%) 112.1 111.7 133.8 108.1 92.5 82.5 78.4 69.5 External debt stocks to GNI (%) 39.3 44.1 60.9 50.9 48.9 45.1 40.8 36.7 Debt service to exports (%) 4.8 5.1 6.7 5.6 6.9 4.9 4.0 3.5 Short-term to external debt stocks (%) 3.5 13.7 1.2 0.2 0.2 0.1 0.2 0.2 Multilateral to external debt stocks (%) 65.0 67.3 72.4 79.2 78.8 78.9 78.6 77.3 Reserves to external debt stocks (%) 57.5 17.3 8.9 30.2 36.6 48.7 48.6 41.4 Reserves to imports (months) 6.0 1.5 1.0 2.5 3.0 3.5 3.1 2.5 86 CAPE VERDE 7. Long-term external debt Debt outstanding and disbursed 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 Public and publicly guaranteed 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 Official creditors 126.6 178.2 305.2 430.7 440.3 491.1 549.2 600.9 Multilateral 87.0 143.9 229.2 365.7 374.7 411.8 454.8 482.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 13.6 33.0 97.9 194.6 205.1 235.9 267.4 283.8 Bilateral 39.6 34.2 75.9 65.0 65.6 79.3 94.3 117.9 Private creditors 2.5 6.4 7.5 20.3 21.6 17.3 14.8 9.9 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 2.6 1.8 1.5 1.0 0.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 12.1 21.4 28.8 27.9 74.3 48.9 51.1 74.8 Public and publicly guaranteed 12.1 21.4 28.8 27.9 74.3 48.9 51.1 74.8 Official creditors 12.1 17.1 28.8 27.7 64.9 48.8 51.1 74.8 Multilateral 6.0 14.9 23.5 26.9 48.8 30.0 34.5 36.6 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.0 6.0 10.4 13.8 27.2 22.1 22.7 20.8 Bilateral 6.1 2.2 5.3 0.9 16.1 18.7 16.6 38.2 Private creditors 0.0 4.2 0.0 0.1 9.4 0.1 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.1 0.9 0.1 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 3.7 5.6 11.1 17.8 28.6 25.0 22.5 23.7 Public and publicly guaranteed 3.7 5.6 11.1 17.8 28.6 25.0 22.5 23.7 Official creditors 3.6 5.6 9.3 15.7 23.2 18.5 18.3 19.3 Multilateral 2.5 4.8 6.1 7.4 12.2 8.6 9.3 10.4 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.3 1.1 1.4 1.5 1.8 2.6 Bilateral 1.1 0.8 3.2 8.3 11.0 9.9 9.0 9.0 Private creditors 0.1 0.0 1.8 2.0 5.4 6.5 4.2 4.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.6 1.4 0.6 0.6 0.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.9 3.4 4.7 5.9 6.8 6.2 6.4 6.5 Public and publicly guaranteed 1.9 3.4 4.7 5.9 6.8 6.2 6.4 6.5 Official creditors 1.9 3.4 3.8 5.5 5.7 5.7 6.1 6.3 Multilateral 1.2 3.3 2.7 3.8 4.2 4.1 4.3 4.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.2 0.7 1.5 1.6 1.7 1.8 2.1 Bilateral 0.7 0.1 1.1 1.7 1.6 1.6 1.8 1.6 Private creditors 0.0 0.0 0.9 0.4 1.0 0.5 0.3 0.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.1 0.5 0.1 0.1 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 7.7 37.9 -8.7 23.0 13.6 46.9 56.6 45.8 Net flows on external debt 10.7 34.4 2.0 11.9 49.3 23.9 28.4 50.4 Cross-currency valuation 2.9 1.3 -7.0 12.4 -24.5 16.3 20.6 0.8 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 9.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 23.2 23.0 23.5 21.9 32.1 33.1 34.2 33.7 Interest 9.8 11.3 12.0 12.3 12.2 11.9 11.4 10.9 Private creditors Principal 4.9 4.9 3.0 0.5 0.0 0.0 0.0 0.0 Interest 0.4 0.3 0.1 0.0 0.0 0.0 0.0 0.0 87 CENTRAL AFRICAN REPUBLIC 1. Summary external debt data External debt stocks 698.5 946.0 857.8 1065.1 1001.9 992.1 946.1 949.4 Long-term external debt 624.1 853.9 795.7 921.8 864.4 855.4 835.9 815.2 Public and publicly guaranteed 624.1 853.9 795.7 921.8 864.4 855.4 835.9 815.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 36.7 34.9 21.5 44.1 35.9 42.1 49.4 63.0 Short-term external debt 37.7 57.1 40.6 99.2 101.6 94.7 60.9 71.2 interest arrears on long-term 15.0 35.7 25.5 90.2 92.6 85.7 60.9 60.2 Memorandum items 23.2 74.2 96.1 197.5 214.1 205.6 157.7 156.2 624.1 853.7 794.7 920.2 863.1 853.9 834.3 813.6 0.0 0.3 1.0 1.5 1.3 1.5 1.6 1.5 174.9 16.6 28.0 0.0 0.0 0.0 0.0 0.0 External debt flows Disbursements 121.1 32.6 16.1 8.3 0.0 10.2 34.9 24.9 Long-term external debt 112.8 32.6 16.1 0.0 0.0 0.0 3.2 1.9 IMF purchases 8.3 0.0 0.0 8.3 0.0 10.2 31.7 23.0 Principal repayments 17.4 10.0 8.3 11.5 5.3 52.7 70.2 28.3 Long-term external debt 7.6 2.6 7.5 9.1 0.4 46.7 43.5 20.5 IMF repurchases 9.8 7.4 0.8 2.4 4.9 6.0 26.7 7.7 Net flows 106.6 25.1 -13.8 -5.9 -5.3 -42.5 -44.4 7.7 Long-term external debt 105.2 30.0 8.6 -9.1 -0.4 -46.7 -40.4 -18.6 Short-term external debt 2.9 2.4 -21.6 -2.7 0.0 0.0 -9.0 11.0 Interest payments 11.8 5.7 5.9 2.9 0.9 17.7 20.3 6.6 Long-term external debt 9.0 3.5 4.3 2.4 0.1 16.5 19.6 6.2 IMF charges 1.2 1.0 0.1 0.2 0.4 0.9 0.4 0.3 Short-term external debt 1.6 1.2 1.4 0.3 0.3 0.3 0.2 0.2 2. Other non-debt resource flows Foreign direct investment (net) 0.7 6.2 0.9 15.1 17.1 18.1 57.0 121.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 2.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 86.2 109.6 55.8 86.0 62.8 157.7 147.6 237.7 of which: Debt forgiveness grants .. .. 13.5 7.8 7.1 7.1 10.9 41.8 IDA grants .. .. .. 0.0 0.0 80.3 4.1 12.8 Memo: technical coop. grants 56.2 46.8 21.6 32.3 36.4 34.7 37.7 22.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.2 6.0 6.4 3.8 3.4 Japanese yen 0.7 0.7 0.7 0.6 0.6 0.6 0.3 0.4 Pound sterling 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 2.6 2.8 2.2 2.8 2.6 2.8 2.2 2.3 U.S.dollars 43.6 56.2 61.2 58.5 59.0 56.9 61.3 61.7 4. Average terms of new commitments Official creditors Interest (%) 1.0 0.8 0.8 0.0 0.0 0.0 0.0 0.0 Maturity (years) 37.6 39.7 39.8 0.0 0.0 0.0 0.0 0.0 Grace period (years) 10.2 10.2 10.3 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1465.1 1100.9 946.8 1268.0 1348.0 1472.9 1702.0 1947.9 Exports of goods, services & income 220.4 .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services 432.5 .. .. .. .. .. .. .. International reserves 122.9 237.9 136.3 153.2 144.9 132.4 91.9 131.5 Current account balance -89.1 .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 317.0 .. .. .. .. .. .. .. External debt stocks to GNI (%) 47.7 85.9 90.6 84.0 74.3 67.4 55.6 48.7 Debt service to exports (%) 13.2 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 5.4 6.0 4.7 9.3 10.1 9.5 6.4 7.5 Multilateral to external debt stocks (%) 65.2 67.3 68.0 63.6 62.0 61.0 63.0 60.9 Reserves to external debt stocks (%) 17.6 25.2 15.9 14.4 14.5 13.3 9.7 13.8 Reserves to imports (months) 3.4 .. .. .. .. .. .. .. 88 CENTRAL AFRICAN REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 624.1 853.9 795.7 921.8 864.4 855.4 835.9 815.2 Public and publicly guaranteed 624.1 853.9 795.7 921.8 864.4 855.4 835.9 815.2 Official creditors 602.6 835.6 763.2 891.2 834.2 824.9 805.1 784.6 Multilateral 455.5 636.2 583.1 677.8 620.8 605.0 595.7 577.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 265.1 414.0 391.3 454.6 422.7 395.1 402.8 389.9 Bilateral 147.0 199.4 180.1 213.4 213.4 220.0 209.5 206.8 Private creditors 21.6 18.4 32.6 30.5 30.2 30.4 30.8 30.6 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 112.8 32.6 16.1 0.0 0.0 0.0 3.2 1.9 Public and publicly guaranteed 112.8 32.6 16.1 0.0 0.0 0.0 3.2 1.9 Official creditors 112.8 32.6 16.1 0.0 0.0 0.0 3.2 1.9 Multilateral 95.2 32.6 16.1 0.0 0.0 0.0 3.2 1.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 70.4 29.8 12.9 0.0 0.0 0.0 3.2 1.9 Bilateral 17.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 7.6 2.6 7.5 9.1 0.4 46.7 43.5 20.5 Public and publicly guaranteed 7.6 2.6 7.5 9.1 0.4 46.7 43.5 20.5 Official creditors 7.0 2.6 7.4 5.2 0.4 46.7 43.5 20.5 Multilateral 3.2 2.6 6.9 0.6 0.4 46.7 43.5 18.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.5 1.3 5.7 0.0 0.0 46.7 11.1 12.4 Bilateral 3.8 0.0 0.5 4.5 0.0 0.0 0.0 2.3 Private creditors 0.6 0.0 0.0 3.9 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 9.0 3.5 4.3 2.4 0.1 16.5 19.6 6.2 Public and publicly guaranteed 9.0 3.5 4.3 2.4 0.1 16.5 19.6 6.2 Official creditors 8.1 3.5 4.3 2.3 0.1 16.5 19.6 6.2 Multilateral 5.1 3.5 3.4 0.2 0.1 16.5 19.6 4.5 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 1.5 2.9 3.2 0.0 0.0 16.5 3.4 3.1 Bilateral 3.1 0.0 0.9 2.1 0.0 0.0 0.0 1.7 Private creditors 0.8 0.0 0.0 0.1 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 5.0 57.9 -51.4 22.7 -63.1 -9.8 -46.0 3.3 Net flows on external debt 106.6 25.1 -13.8 -5.9 -5.3 -42.5 -44.4 7.7 Cross-currency valuation 38.2 -35.4 -33.6 33.5 -58.4 32.2 36.0 1.5 9. Debt restructurings Total amount rescheduled 4.4 7.6 2.9 0.0 0.0 0.0 20.8 3.2 Total amount forgiven 157.5 1.3 0.7 0.0 0.0 0.0 8.2 14.1 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 22.9 24.4 27.9 27.9 28.5 28.9 28.9 29.5 Interest 6.6 7.1 6.8 6.4 6.2 5.9 5.6 5.3 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreement signed in April 2007. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $1,510 in thousands and $9,416 in thousands respectively. 89 CHAD 1. Summary external debt data External debt stocks 514 843 1,091 1,641 1,585 1,707 1,797 1,749 Long-term external debt 454 777 988 1,528 1,495 1,628 1,712 1,705 Public and publicly guaranteed 454 777 988 1,528 1,495 1,628 1,712 1,705 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 30 49 78 96 79 68 56 41 Short-term external debt 30 17 25 17 11 12 29 4 interest arrears on long-term 6 9 10 9 6 8 6 4 Memorandum items 16 36 52 27 26 24 22 26 454 777 988 1,528 1,495 1,628 1,712 1,705 0 0 0 0 0 0 0 0 83 116 178 28 134 7 141 11 External debt flows Disbursements 103 73 59 113 116 102 50 97 Long-term external debt 94 61 46 113 110 102 50 97 IMF purchases 8 13 14 0 6 0 0 0 Principal repayments 7 10 14 27 38 46 52 119 Long-term external debt 3 3 13 15 24 30 37 105 IMF repurchases 4 7 1 13 13 16 15 14 Net flows 98 63 44 85 75 55 17 -45 Long-term external debt 91 57 33 99 85 71 13 -8 Short-term external debt 2 0 -2 -1 -3 -1 19 -23 Interest payments 5 5 10 12 17 17 20 19 Long-term external debt 3 4 9 10 16 17 19 18 IMF charges 0 1 0 1 0 0 0 0 Short-term external debt 2 1 1 0 0 0 1 0 2. Other non-debt resource flows Foreign direct investment (net) 9 33 115 495 613 700 718 834 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 147 121 61 229 262 205 318 442 of which: Debt forgiveness grants .. .. 7 16 15 7 17 7 IDA grants .. .. .. 1 7 5 10 8 Memo: technical coop. grants 58 63 31 41 44 43 38 42 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.9 3.3 3.9 3.6 3.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 49.6 54.8 58.7 64.7 66.1 65.0 64.4 60.2 4. Average terms of new commitments Official creditors Interest (%) 1.8 1.0 0.7 1.0 1.6 0.0 1.3 0.0 Maturity (years) 31.0 38.0 40.5 37.8 23.8 28.6 19.9 24.0 Grace period (years) 9.1 8.7 10.1 9.7 6.6 9.1 6.9 6.5 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,721 1,441 1,368 3,720 4,847 5,146 5,808 6,693 Exports of goods, services & income 274 .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services 511 .. .. .. .. .. .. .. International reserves 132 147 114 227 231 632 964 1,355 Current account balance -46 .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 187.5 .. .. .. .. .. .. .. External debt stocks to GNI (%) 29.9 58.5 79.8 44.1 32.7 33.2 30.9 26.1 Debt service to exports (%) 4.3 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 5.8 2.0 2.3 1.0 0.7 0.7 1.6 0.2 Multilateral to external debt stocks (%) 65.5 76.5 76.5 82.9 84.5 84.9 85.0 84.0 Reserves to external debt stocks (%) 25.7 17.4 10.4 13.8 14.6 37.0 53.7 77.5 Reserves to imports (months) 3.1 .. .. .. .. .. .. .. 90 CHAD 7. Long-term external debt Debt outstanding and disbursed 454 777 988 1,528 1,495 1,628 1,712 1,705 Public and publicly guaranteed 454 777 988 1,528 1,495 1,628 1,712 1,705 Official creditors 446 775 973 1,494 1,463 1,594 1,679 1,672 Multilateral 337 645 834 1,361 1,340 1,450 1,527 1,469 of which: IBRD 0 0 0 37 35 30 26 0 IDA 186 379 515 874 864 925 968 905 Bilateral 109 131 139 134 123 145 152 202 Private creditors 8 2 15 33 32 33 33 33 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 94 61 46 113 110 102 50 97 Public and publicly guaranteed 94 61 46 113 110 102 50 97 Official creditors 94 61 46 113 110 102 50 97 Multilateral 72 61 36 110 108 71 39 38 of which: IBRD 0 0 0 6 1 0 0 0 IDA 48 42 18 74 64 31 16 5 Bilateral 22 0 10 3 2 31 12 59 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 3 3 13 15 24 30 37 105 Public and publicly guaranteed 3 3 13 15 24 30 37 105 Official creditors 3 3 13 15 23 30 37 105 Multilateral 3 3 10 11 17 24 31 100 of which: IBRD 0 0 0 0 2 5 5 26 IDA 1 1 4 4 4 11 11 62 Bilateral 0 1 3 4 5 6 5 6 Private creditors 1 0 1 0 1 1 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 3 4 9 10 16 17 19 18 Public and publicly guaranteed 3 4 9 10 16 17 19 18 Official creditors 3 4 9 10 16 17 19 18 Multilateral 2 3 6 9 14 13 15 15 of which: IBRD 0 0 0 1 1 2 2 1 IDA 1 3 3 7 6 7 7 8 Bilateral 1 0 3 1 2 3 3 4 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 116 59 -8 112 -56 122 90 -48 Net flows on external debt 98 63 44 85 75 55 17 -45 Cross-currency valuation 8 -39 -63 18 -120 29 39 12 9. Debt restructurings Total amount rescheduled 8 46 0 0 12 0 0 0 Total amount forgiven 12 62 0 9 16 15 5 4 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 53 58 61 66 70 77 83 79 Interest 20 19 19 18 17 16 15 14 Private creditors Principal 4 4 2 2 2 2 2 1 Interest 0 0 0 0 0 0 0 0 Notes: Data for 2007 include the effects of Enhanced HIPC Initiative, in the amount of $3,612 in thousands. 91 CHILE 1. Summary external debt data External debt stocks 19,226 22,038 37,261 43,774 45,446 48,052 56,542 64,277 Long-term external debt 14,687 18,607 31,089 36,322 38,357 38,734 45,486 49,367 Public and publicly guaranteed 10,425 7,178 5,228 9,397 9,173 9,390 9,350 8,818 Private nonguaranteed 4,263 11,429 25,861 26,925 29,184 29,344 36,136 40,549 Use of IMF credit 1,156 0 0 0 0 0 0 0 Short-term external debt 3,382 3,431 6,172 7,452 7,089 9,318 11,056 14,910 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 10,421 7,178 5,148 9,393 9,170 9,377 9,313 8,772 4,267 11,429 25,941 26,929 29,188 29,357 36,172 40,595 1,049 314 324 2,372 995 1,423 945 1,033 External debt flows Disbursements 2,253 3,821 4,966 8,388 9,156 12,620 13,201 16,564 Long-term external debt 2,253 3,821 4,966 8,388 9,156 12,620 13,201 16,564 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 980 3,671 3,938 8,134 6,075 12,553 9,226 13,164 Long-term external debt 771 3,369 3,938 8,134 6,075 12,553 9,226 13,164 IMF repurchases 208 303 0 0 0 0 0 0 Net flows 1,682 -284 2,883 690 2,718 2,296 5,713 7,253 Long-term external debt 1,481 452 1,028 254 3,081 67 3,975 3,399 Short-term external debt 409 -434 1,855 436 -363 2,229 1,738 3,854 Interest payments 1,792 1,293 2,235 1,428 1,510 1,993 2,276 2,023 Long-term external debt 1,364 1,114 2,081 1,274 1,290 1,655 1,723 1,634 IMF charges 118 13 0 0 0 0 0 0 Short-term external debt 310 165 154 154 221 338 553 389 2. Other non-debt resource flows Foreign direct investment (net) 661 2,957 4,860 7,173 6,984 7,298 12,577 16,787 Portfolio equity flows 367 -249 -427 8 1,571 -124 388 1,823 Profit remittances on FDI 387 2,178 2,539 8,231 11,416 19,913 22,832 18,544 Grants (excluding technical coop.) 73 54 18 41 90 30 34 25 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 66 97 56 67 60 52 49 65 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.4 1.0 1.1 1.2 1.1 Japanese yen 8.2 9.5 5.0 0.6 0.4 2.5 2.2 0.0 Pound sterling 3.4 2.9 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.6 0.9 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 40.2 42.0 84.2 93.1 98.0 95.8 96.0 98.3 4. Average terms of new commitments Official creditors Interest (%) 7.7 6.1 1.0 1.8 4.2 5.2 5.4 3.4 Maturity (years) 18.8 19.5 17.0 8.3 13.1 13.1 16.2 6.2 Grace period (years) 4.3 5.8 1.5 4.5 4.7 6.0 4.9 4.0 Private creditors Interest (%) 9.3 6.8 7.0 2.9 5.1 5.8 5.6 5.1 Maturity (years) 7.6 10.9 6.3 6.6 19.2 15.7 6.4 6.3 Grace period (years) 2.3 3.0 3.0 5.6 18.2 13.0 5.0 2.2 5. Major economic aggregates Gross national income (GNI) 29,800 68,637 72,333 87,815 107,790 128,360 145,270 155,480 Exports of goods, services & income 10,705 20,226 24,891 40,537 50,853 69,885 82,953 83,396 Worker remit. & comp. of employees 1 .. 13 12 13 3 3 3 Imports of goods & services 11,387 21,883 26,346 39,535 51,187 66,137 78,888 89,760 International reserves 6,784 14,860 15,055 15,997 16,933 19,397 16,843 23,079 Current account balance -485 -1,350 -898 2,074 1,449 7,154 7,189 -3,440 6. Ratios External debt stocks to exports (%) 179.6 109.0 149.7 108.0 89.4 68.8 68.2 77.1 External debt stocks to GNI (%) 64.5 32.1 51.5 49.8 42.2 37.4 38.9 41.3 Debt service to exports (%) 25.9 24.5 24.8 23.6 14.9 20.8 13.9 18.2 Short-term to external debt stocks (%) 17.6 15.6 16.6 17.0 15.6 19.4 19.6 23.2 Multilateral to external debt stocks (%) 21.5 13.0 3.8 2.3 1.8 1.9 1.6 1.3 Reserves to external debt stocks (%) 35.3 67.4 40.4 36.5 37.3 40.4 29.8 35.9 Reserves to imports (months) 7.1 8.1 6.9 4.9 4.0 3.5 2.6 3.1 92 CHILE 7. Long-term external debt Debt outstanding and disbursed 14,687 18,607 31,089 36,322 38,357 38,734 45,486 49,367 Public and publicly guaranteed 10,425 7,178 5,228 9,397 9,173 9,390 9,350 8,818 Official creditors 5,182 3,582 1,887 1,306 1,089 1,151 1,161 1,192 Multilateral 4,143 2,871 1,406 1,015 827 897 932 831 of which: IBRD 1,860 1,372 808 441 289 346 354 200 IDA 14 11 7 4 4 3 2 2 Bilateral 1,039 711 481 291 262 254 229 361 Private creditors 5,242 3,596 3,341 8,091 8,084 8,239 8,189 7,626 of which: Bonds 39 0 0 5,362 5,406 5,938 5,401 4,513 Commercial banks 4,747 3,509 3,273 2,704 2,678 2,301 2,788 3,113 Private nonguaranteed 4,263 11,429 25,861 26,925 29,184 29,344 36,136 40,549 of which: Bonds 0 866 6,339 4,951 4,761 4,779 6,385 5,585 Disbursements 2,253 3,821 4,966 8,388 9,156 12,620 13,201 16,564 Public and publicly guaranteed 708 342 369 2,561 1,197 1,186 714 1,043 Official creditors 650 194 147 378 176 112 89 295 Multilateral 583 146 113 371 162 92 72 139 of which: IBRD 251 83 48 259 55 62 14 53 IDA 0 0 0 0 0 0 0 0 Bilateral 67 48 34 7 14 20 16 156 Private creditors 58 148 221 2,184 1,022 1,074 626 749 of which: Bonds 0 0 0 1,250 500 650 0 0 Commercial banks 37 141 221 934 522 424 626 749 Private nonguaranteed 1,545 3,479 4,597 5,827 7,959 11,434 12,487 15,520 of which: Bonds 0 500 672 1,125 700 813 250 100 Principal repayments 771 3,369 3,938 8,134 6,075 12,553 9,226 13,164 Public and publicly guaranteed 500 2,277 757 1,215 1,364 976 742 1,594 Official creditors 356 2,003 277 483 371 61 58 261 Multilateral 263 1,884 177 406 345 23 40 243 of which: IBRD 119 704 115 240 206 5 6 207 IDA 1 1 1 1 1 1 1 1 Bilateral 93 119 100 77 26 38 18 17 Private creditors 144 273 480 732 993 914 684 1,333 of which: Bonds 7 0 0 171 422 118 537 888 Commercial banks 32 240 479 560 546 797 147 446 Private nonguaranteed 271 1,092 3,181 6,919 4,711 11,578 8,484 11,570 of which: Bonds 0 11 0 752 195 765 575 900 Interest payments 1,364 1,114 2,081 1,274 1,290 1,655 1,723 1,634 Public and publicly guaranteed 1,112 653 377 399 460 495 530 531 Official creditors 384 387 138 50 49 49 56 48 Multilateral 313 348 112 44 43 43 50 43 of which: IBRD 130 137 70 18 16 17 20 13 IDA 0 0 0 0 0 0 0 0 Bilateral 71 39 26 7 6 6 5 5 Private creditors 729 266 239 349 411 446 475 483 of which: Bonds 2 0 0 265 299 313 336 249 Commercial banks 688 258 234 84 112 134 138 234 Private nonguaranteed 252 461 1,704 875 829 1,160 1,193 1,103 of which: Bonds 0 26 440 349 347 359 471 412 8. Debt stock-flow reconciliation Total change in external debt stocks 1,193 -117 2,467 984 1,672 2,606 8,490 7,735 Net flows on external debt 1,682 -284 2,883 690 2,718 2,296 5,713 7,253 Cross-currency valuation 508 14 -58 7 65 123 9 62 9. Debt restructurings Total amount rescheduled 4,172 0 0 0 0 0 0 0 Total amount forgiven 1,100 145 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 104 313 125 80 105 153 151 151 Interest 42 42 38 36 35 32 29 25 Private creditors Principal 11,675 5,790 4,462 5,565 5,606 2,816 1,646 1,842 Interest 1,545 1,460 1,322 1,049 814 549 1,008 499 Notes: Short-term debt is based on reports provided by the country. 93 CHINA 1. Summary external debt data External debt stocks 55,301 118,090 145,711 247,679 283,986 325,260 373,773 378,245 Long-term external debt 45,515 95,764 132,631 131,909 135,719 151,883 170,075 191,057 Public and publicly guaranteed 45,515 94,674 94,842 89,751 85,227 88,217 87,791 89,283 Private nonguaranteed 0 1,090 37,789 42,158 50,492 63,666 82,284 101,774 Use of IMF credit 469 0 0 0 0 0 0 0 Short-term external debt 9,317 22,325 13,080 115,770 148,267 173,377 203,698 187,188 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 45,449 93,573 94,842 89,751 84,968 87,972 87,619 89,125 66 2,192 37,789 42,158 50,751 63,910 82,456 101,932 9,988 22,812 10,702 6,849 10,233 6,275 6,927 6,010 External debt flows Disbursements 9,665 21,985 16,776 24,181 29,228 26,524 36,339 38,188 Long-term external debt 9,665 21,985 16,776 24,181 29,228 26,524 36,339 38,188 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 3,809 9,070 19,924 16,289 20,846 18,120 20,780 25,143 Long-term external debt 3,319 9,070 19,924 16,289 20,846 18,120 20,780 25,143 IMF repurchases 490 0 0 0 0 0 0 0 Net flows 8,267 17,758 -5,247 35,569 40,878 33,514 45,880 -3,464 Long-term external debt 6,346 12,915 -3,147 7,892 8,381 8,404 15,559 13,046 Short-term external debt 2,410 4,842 -2,100 27,677 32,497 25,110 30,321 -16,510 Interest payments 3,248 5,996 7,165 6,965 6,519 9,359 11,395 9,246 Long-term external debt 2,534 4,657 5,998 4,003 3,218 3,818 5,454 4,760 IMF charges 65 0 0 0 0 0 0 0 Short-term external debt 649 1,340 1,168 2,963 3,302 5,541 5,942 4,486 2. Other non-debt resource flows Foreign direct investment (net) 3,487 35,849 38,399 54,936 79,127 78,095 138,413 147,791 Portfolio equity flows 0 0 6,912 10,923 20,346 42,861 18,510 8,721 Profit remittances on FDI 46 9,953 20,198 17,415 21,040 29,236 43,711 48,866 Grants (excluding technical coop.) 249 330 289 442 388 376 566 631 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 384 563 537 878 858 974 948 970 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.0 8.0 8.4 8.1 6.6 Japanese yen 30.4 20.7 16.9 15.9 13.5 12.0 8.4 9.1 Pound sterling 0.7 0.2 0.1 0.1 0.1 0.1 0.1 0.0 Swiss franc 0.2 0.0 0.1 0.1 0.1 0.1 0.0 0.0 U.S.dollars 29.1 58.1 71.5 70.8 74.7 76.3 80.6 81.7 4. Average terms of new commitments Official creditors Interest (%) 3.7 6.8 7.2 2.5 4.3 5.4 5.4 3.6 Maturity (years) 27.9 18.3 21.1 22.3 22.5 21.8 21.0 22.3 Grace period (years) 7.9 3.7 4.9 5.2 5.5 5.7 5.4 5.8 Private creditors Interest (%) 8.6 6.3 5.9 4.6 4.6 5.0 4.1 4.6 Maturity (years) 13.3 7.3 17.0 9.6 9.1 14.4 9.0 13.0 Grace period (years) 2.7 2.4 1.8 8.0 5.2 0.9 1.4 1.1 5. Major economic aggregates Gross national income (GNI) 357,992 716,233 1,183,815 1,928,118 2,246,549 2,673,038 3,407,955 4,370,420 Exports of goods, services & income 60,515 152,781 292,668 680,998 881,342 1,123,154 1,435,916 1,686,885 Worker remit. & comp. of employees 210 1,053 6,244 19,014 20,337 23,319 32,833 40,641 Imports of goods & services 48,668 152,248 277,904 630,610 740,414 892,255 1,092,071 1,293,020 International reserves 34,476 80,288 171,763 622,949 831,410 1,080,756 1,546,365 .. Current account balance 11,997 1,618 20,518 68,659 160,818 253,268 371,833 426,107 6. Ratios External debt stocks to exports (%) 91.4 77.3 49.8 36.4 32.2 29.0 26.0 22.4 External debt stocks to GNI (%) 15.4 16.5 12.3 12.8 12.6 12.2 11.0 8.7 Debt service to exports (%) 11.7 9.9 9.3 3.4 3.1 2.4 2.2 2.0 Short-term to external debt stocks (%) 16.8 18.9 9.0 46.7 52.2 53.3 54.5 49.5 Multilateral to external debt stocks (%) 11.1 13.8 17.7 10.7 9.3 8.5 7.8 8.1 Reserves to external debt stocks (%) 62.3 68.0 117.9 251.5 292.8 332.3 413.7 .. Reserves to imports (months) 8.5 6.3 7.4 11.9 13.5 14.5 17.0 .. 94 CHINA 7. Long-term external debt Debt outstanding and disbursed 45,515 95,764 132,631 131,909 135,719 151,883 170,075 191,057 Public and publicly guaranteed 45,515 94,674 94,842 89,751 85,227 88,217 87,791 89,283 Official creditors 14,514 36,982 50,374 57,248 52,215 55,333 58,375 63,128 Multilateral 6,111 16,302 25,811 26,525 26,413 27,738 29,258 30,655 of which: IBRD 2,865 7,209 11,118 11,035 11,140 11,415 11,762 12,464 IDA 3,016 7,038 8,771 10,670 9,741 9,997 10,151 9,786 Bilateral 8,403 20,680 24,563 30,723 25,802 27,595 29,117 32,473 Private creditors 31,001 57,693 44,467 32,503 33,012 32,884 29,416 26,154 of which: Bonds 5,425 10,684 11,371 13,769 16,039 16,382 16,566 13,925 Commercial banks 14,520 23,869 10,619 3,434 3,247 3,763 3,030 2,868 Private nonguaranteed 0 1,090 37,789 42,158 50,492 63,666 82,284 101,774 of which: Bonds 0 1,090 1,068 2,326 3,574 5,279 6,018 5,970 Disbursements 9,665 21,985 16,776 24,181 29,228 26,524 36,339 38,188 Public and publicly guaranteed 9,665 21,441 9,694 6,605 9,776 6,278 6,562 5,449 Official creditors 2,578 9,073 5,790 2,513 2,169 3,588 2,835 3,893 Multilateral 1,158 2,838 3,303 1,757 2,010 2,153 2,425 2,870 of which: IBRD 591 1,457 1,528 1,119 1,061 1,134 1,194 1,604 IDA 507 812 379 69 70 34 14 9 Bilateral 1,420 6,235 2,487 756 159 1,434 410 1,023 Private creditors 7,087 12,368 3,904 4,093 7,606 2,690 3,727 1,556 of which: Bonds 277 1,224 848 3,747 4,208 0 1,456 0 Commercial banks 3,247 4,977 131 75 2,161 17 215 27 Private nonguaranteed 0 544 7,082 17,576 19,452 20,246 29,777 32,739 of which: Bonds 0 544 390 737 1,622 1,945 740 0 Principal repayments 3,319 9,070 19,924 16,289 20,846 18,120 20,780 25,143 Public and publicly guaranteed 3,319 9,070 10,797 4,905 6,569 6,520 5,717 7,934 Official creditors 851 1,171 4,270 2,459 1,323 2,684 2,845 2,990 Multilateral 220 420 1,400 1,531 1,195 1,333 1,397 1,520 of which: IBRD 216 350 578 813 787 901 908 971 IDA 0 14 66 186 217 243 276 309 Bilateral 631 751 2,870 928 128 1,351 1,448 1,470 Private creditors 2,468 7,899 6,527 2,446 5,246 3,836 2,872 4,944 of which: Bonds 325 1,451 443 769 550 0 479 1,746 Commercial banks 808 2,645 2,016 271 1,936 149 676 264 Private nonguaranteed 0 0 9,127 11,384 14,277 11,600 15,063 17,209 of which: Bonds 0 0 534 26 370 240 0 350 Interest payments 2,534 4,657 5,998 4,003 3,218 3,818 5,454 4,760 Public and publicly guaranteed 2,534 4,623 4,074 3,048 2,201 2,304 3,227 2,540 Official creditors 531 1,288 2,386 1,858 1,375 1,427 1,690 1,407 Multilateral 226 619 1,518 866 680 935 1,105 1,009 of which: IBRD 200 460 713 242 351 542 653 553 IDA 19 49 65 78 79 74 74 79 Bilateral 305 669 867 992 695 492 586 398 Private creditors 2,003 3,335 1,688 1,190 826 877 1,537 1,133 of which: Bonds 367 594 521 328 430 502 778 445 Commercial banks 959 1,333 222 294 71 80 182 33 Private nonguaranteed 0 33 1,924 954 1,017 1,514 2,227 2,220 of which: Bonds 0 33 93 122 248 343 445 431 8. Debt stock-flow reconciliation Total change in external debt stocks 10,369 17,633 -6,354 39,248 36,307 41,274 48,514 4,472 Net flows on external debt 8,267 17,758 -5,247 35,569 40,878 33,514 45,880 -3,464 Cross-currency valuation 1,415 -375 -3,116 1,424 -3,680 1,187 1,808 1,464 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6,927 6,543 5,618 5,733 5,613 5,516 5,372 5,151 Interest 2,172 1,928 1,719 1,535 1,345 1,159 973 792 Private creditors Principal 31,142 22,984 21,943 12,382 10,887 9,151 9,293 4,755 Interest 4,876 3,748 2,826 2,140 1,582 1,171 790 396 Notes: Data on long-term public and publicly guaranteed, long-term private nonguaranteed and short-term debt for 2008 are World Bank staff estimates based on aggregate information provided by the authorities. 95 COLOMBIA 1. Summary external debt data External debt stocks 17,222 25,044 33,937 37,911 37,720 38,320 43,956 46,887 Long-term external debt 15,784 19,499 31,066 32,791 31,544 33,557 38,795 41,202 Public and publicly guaranteed 14,671 13,946 20,806 23,772 22,555 25,003 27,683 29,390 Private nonguaranteed 1,113 5,553 10,259 9,019 8,989 8,554 11,112 11,812 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 1,438 5,545 2,871 5,120 6,176 4,763 5,161 5,684 interest arrears on long-term 28 2 0 0 0 0 0 0 Memorandum items 409 177 8 0 0 0 0 0 14,630 13,945 20,805 23,771 22,554 25,000 27,682 28,788 1,154 5,555 10,261 9,020 8,990 8,557 11,114 12,414 1,269 1,792 3,782 3,030 4,879 5,199 4,772 5,071 External debt flows Disbursements 1,994 4,179 3,803 4,416 6,496 9,225 8,860 7,239 Long-term external debt 1,994 4,179 3,803 4,416 6,496 9,225 8,860 7,239 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 2,189 2,347 2,900 5,249 7,403 7,773 5,642 4,875 Long-term external debt 2,189 2,347 2,900 5,249 7,403 7,773 5,642 4,875 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -399 2,894 -191 731 149 39 3,616 2,888 Long-term external debt -195 1,832 903 -832 -907 1,452 3,218 2,365 Short-term external debt -204 1,062 -1,094 1,564 1,056 -1,413 398 524 Interest payments 1,701 1,998 2,204 2,440 2,838 2,590 3,005 3,066 Long-term external debt 1,558 1,687 2,032 2,262 2,584 2,371 2,761 2,799 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 143 311 172 178 254 220 244 267 2. Other non-debt resource flows Foreign direct investment (net) 500 968 2,395 3,016 10,252 6,656 9,049 10,600 Portfolio equity flows 0 165 17 130 86 -30 790 -86 Profit remittances on FDI 964 359 655 2,433 3,565 4,591 6,448 8,410 Grants (excluding technical coop.) 35 74 79 138 186 263 521 733 of which: Debt forgiveness grants .. .. 0 8 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 79 98 182 475 530 779 232 264 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.3 4.2 3.5 3.4 1.4 Japanese yen 4.9 5.6 3.6 1.7 1.6 1.3 1.1 1.1 Pound sterling 0.3 0.1 0.8 0.9 0.8 0.8 0.8 0.0 Swiss franc 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 44.0 49.9 74.4 81.4 85.2 88.2 89.9 93.8 4. Average terms of new commitments Official creditors Interest (%) 7.5 6.4 8.8 4.4 5.1 5.5 5.7 3.7 Maturity (years) 18.7 20.4 12.1 16.9 15.9 17.7 11.9 23.1 Grace period (years) 5.4 4.8 3.1 6.4 6.0 5.3 4.7 7.1 Private creditors Interest (%) 9.3 3.8 7.6 9.0 8.0 7.3 9.2 6.8 Maturity (years) 10.2 6.1 10.2 12.3 11.4 18.4 13.4 14.5 Grace period (years) 2.2 4.0 7.5 12.1 10.2 16.9 13.2 13.7 5. Major economic aggregates Gross national income (GNI) 38,193 90,924 91,738 109,496 139,124 156,417 199,900 232,130 Exports of goods, services & income 9,514 13,781 18,440 23,323 28,785 33,972 40,565 49,106 Worker remit. & comp. of employees 495 815 1,610 3,190 3,346 3,928 4,523 4,884 Imports of goods & services 9,510 18,286 17,728 24,783 31,435 37,808 47,123 56,491 International reserves 4,869 8,452 9,006 13,537 14,955 15,437 20,951 23,671 Current account balance 542 -4,516 808 -906 -1,882 -2,982 -5,819 -6,713 6. Ratios External debt stocks to exports (%) 181.0 181.7 184.0 162.5 131.0 112.8 108.4 95.5 External debt stocks to GNI (%) 45.1 27.5 37.0 34.6 27.1 24.5 22.0 20.2 Debt service to exports (%) 40.9 31.5 27.7 33.0 35.6 30.5 21.3 16.2 Short-term to external debt stocks (%) 8.4 22.1 8.5 13.5 16.4 12.4 11.7 12.1 Multilateral to external debt stocks (%) 35.4 21.2 18.5 27.5 25.5 28.3 25.7 28.3 Reserves to external debt stocks (%) 28.3 33.7 26.5 35.7 39.6 40.3 47.7 50.5 Reserves to imports (months) 6.1 5.5 6.1 6.6 5.7 4.9 5.3 5.0 96 COLOMBIA 7. Long-term external debt Debt outstanding and disbursed 15,784 19,499 31,066 32,791 31,544 33,557 38,795 41,202 Public and publicly guaranteed 14,671 13,946 20,806 23,772 22,555 25,003 27,683 29,390 Official creditors 8,540 7,063 7,722 11,551 10,568 11,659 11,994 13,890 Multilateral 6,103 5,316 6,274 10,410 9,615 10,843 11,277 13,259 of which: IBRD 3,859 2,548 1,920 3,490 3,896 4,563 4,756 5,438 IDA 14 11 7 5 4 3 2 2 Bilateral 2,437 1,747 1,448 1,141 954 816 717 631 Private creditors 6,131 6,883 13,084 12,222 11,987 13,344 15,690 15,500 of which: Bonds 275 1,733 8,201 10,741 10,927 12,162 12,354 12,280 Commercial banks 4,208 4,163 4,252 1,144 800 1,034 2,504 2,482 Private nonguaranteed 1,113 5,553 10,259 9,019 8,989 8,554 11,112 11,812 of which: Bonds 0 717 762 370 370 540 809 809 Disbursements 1,994 4,179 3,803 4,416 6,496 9,225 8,860 7,239 Public and publicly guaranteed 1,847 1,569 2,939 2,884 4,376 5,860 4,494 4,007 Official creditors 697 685 660 1,173 1,467 2,239 1,585 2,712 Multilateral 559 394 508 1,169 1,467 2,221 1,581 2,691 of which: IBRD 213 238 266 455 705 942 564 847 IDA 0 0 0 0 0 0 0 0 Bilateral 139 290 152 4 0 18 4 21 Private creditors 1,150 885 2,279 1,711 2,908 3,622 2,909 1,296 of which: Bonds 0 535 1,804 1,375 2,304 2,696 1,293 1,000 Commercial banks 874 257 469 292 591 926 1,615 296 Private nonguaranteed 147 2,610 865 1,533 2,121 3,364 4,366 3,232 of which: Bonds 0 592 0 170 0 170 469 0 Principal repayments 2,189 2,347 2,900 5,249 7,403 7,773 5,642 4,875 Public and publicly guaranteed 1,875 2,200 2,068 2,083 4,712 3,863 2,915 2,170 Official creditors 737 1,110 557 1,123 2,223 1,177 1,366 879 Multilateral 527 647 440 943 2,072 1,005 1,249 755 of which: IBRD 434 414 242 255 218 259 432 158 IDA 1 1 1 1 1 1 1 1 Bilateral 210 463 116 180 151 171 117 124 Private creditors 1,138 1,090 1,511 961 2,488 2,686 1,549 1,291 of which: Bonds 4 119 469 441 1,723 1,879 1,353 953 Commercial banks 849 723 838 438 680 693 150 318 Private nonguaranteed 314 147 832 3,165 2,692 3,910 2,727 2,705 of which: Bonds 0 0 110 176 0 0 200 0 Interest payments 1,558 1,687 2,032 2,262 2,584 2,371 2,761 2,799 Public and publicly guaranteed 1,240 962 1,414 1,636 1,947 1,664 1,961 2,142 Official creditors 627 505 541 545 574 580 682 663 Multilateral 476 388 470 497 529 543 648 635 of which: IBRD 318 190 126 152 174 210 256 241 IDA 0 0 0 0 0 0 0 0 Bilateral 150 118 71 48 44 37 33 27 Private creditors 613 457 873 1,091 1,373 1,083 1,279 1,480 of which: Bonds 27 58 515 1,009 1,284 1,005 1,058 1,112 Commercial banks 461 310 298 58 69 64 61 213 Private nonguaranteed 318 725 618 625 637 707 800 656 of which: Bonds 0 15 84 38 36 43 75 68 8. Debt stock-flow reconciliation Total change in external debt stocks 336 3,106 -490 913 -191 600 5,636 2,931 Net flows on external debt -399 2,894 -191 731 149 39 3,616 2,888 Cross-currency valuation 494 315 -364 426 -261 1,436 330 3 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 2 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 934 1,112 1,282 1,192 1,150 1,339 1,148 1,071 Interest 555 522 483 439 400 358 316 279 Private creditors Principal 4,634 3,613 1,981 2,297 1,179 2,472 1,481 554 Interest 1,912 1,646 1,409 1,302 1,118 1,068 884 769 Notes: Short-term debt is based on the Central Bank data. 97 COMOROS 1. Summary external debt data External debt stocks 187.8 214.5 236.6 307.4 291.2 296.1 291.0 281.3 Long-term external debt 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Public and publicly guaranteed 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 3.3 1.5 0.0 0.0 0.0 0.0 5.1 Short-term external debt 12.4 10.0 28.1 34.1 33.7 36.3 11.8 5.8 interest arrears on long-term 12.2 8.0 19.1 31.1 30.7 32.3 7.8 5.8 Memorandum items 25.5 26.7 60.2 78.0 74.1 78.6 38.5 27.4 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 4.7 0.0 13.3 0.0 0.0 0.0 0.0 External debt flows Disbursements 5.1 9.6 2.1 3.2 2.7 3.0 4.8 6.7 Long-term external debt 5.1 9.6 2.1 3.2 2.7 3.0 4.8 1.4 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.3 Principal repayments 0.2 0.4 1.8 2.2 2.6 2.3 13.0 8.1 Long-term external debt 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 IMF repurchases 0.0 0.0 0.6 0.2 0.0 0.0 0.0 0.0 Net flows 1.8 11.2 2.3 3.0 0.1 1.7 -8.1 -5.4 Long-term external debt 4.8 9.2 0.9 1.3 0.1 0.7 -8.1 -6.7 Short-term external debt -3.0 2.0 2.0 1.9 0.0 1.0 0.0 -4.0 Interest payments 0.9 0.6 1.4 1.1 1.4 1.4 13.3 4.2 Long-term external debt 0.7 0.5 0.8 1.0 1.3 1.1 13.1 4.2 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 0.1 0.6 0.1 0.2 0.2 0.2 0.0 2. Other non-debt resource flows Foreign direct investment (net) 0.4 0.9 0.1 0.7 0.6 0.6 8.0 8.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.6 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 27.7 17.8 10.7 14.5 12.2 18.7 28.8 27.6 of which: Debt forgiveness grants .. .. 1.7 2.2 2.2 2.2 2.3 2.4 IDA grants .. .. .. 0.0 0.0 0.0 0.0 1.2 Memo: technical coop. grants 15.8 14.6 8.4 12.2 12.6 13.3 16.6 11.9 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.1 12.4 12.3 11.6 11.5 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 16.7 27.1 31.9 41.0 40.7 41.4 42.6 43.2 4. Average terms of new commitments Official creditors Interest (%) 2.0 0.9 0.0 0.8 0.0 0.0 0.0 0.0 Maturity (years) 29.8 37.7 0.0 39.8 0.0 0.0 0.0 0.0 Grace period (years) 10.3 10.4 0.0 10.3 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 249.3 232.9 202.2 360.2 384.6 403.6 466.9 531.2 Exports of goods, services & income 48.1 61.4 .. .. .. .. .. .. Worker remit. & comp. of employees 10.0 12.0 12.0 12.0 12.0 12.0 12.0 12.0 Imports of goods & services 93.4 105.7 .. .. .. .. .. .. International reserves 29.9 44.9 43.4 104.0 86.1 93.9 117.6 112.7 Current account balance -10.5 -19.0 .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 390.5 349.2 .. .. .. .. .. .. External debt stocks to GNI (%) 75.3 92.1 117.0 85.3 75.7 73.4 62.3 53.0 Debt service to exports (%) 2.3 1.6 .. .. .. .. .. .. Short-term to external debt stocks (%) 6.6 4.7 11.9 11.1 11.6 12.3 4.1 2.1 Multilateral to external debt stocks (%) 61.0 72.9 70.1 72.4 71.0 73.0 78.1 77.7 Reserves to external debt stocks (%) 15.9 20.9 18.3 33.8 29.6 31.7 40.4 40.1 Reserves to imports (months) 3.8 5.1 .. .. .. .. .. .. 98 COMOROS 7. Long-term external debt Debt outstanding and disbursed 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Public and publicly guaranteed 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Official creditors 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Multilateral 114.6 156.5 165.9 222.6 206.8 216.3 227.4 218.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 37.5 64.1 70.8 118.7 111.1 117.1 124.4 122.3 Bilateral 60.8 44.7 41.1 50.8 50.7 43.5 51.8 51.6 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 5.1 9.6 2.1 3.2 2.7 3.0 4.8 1.4 Public and publicly guaranteed 5.1 9.6 2.1 3.2 2.7 3.0 4.8 1.4 Official creditors 5.1 9.6 2.1 3.2 2.7 3.0 4.8 1.4 Multilateral 0.9 9.6 2.1 3.2 2.7 3.0 4.8 1.4 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.7 9.6 2.1 3.2 2.7 3.0 4.8 1.4 Bilateral 4.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 Public and publicly guaranteed 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 Official creditors 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 Multilateral 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.4 0.8 1.8 2.0 2.0 2.3 2.6 Bilateral 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 0.7 0.5 0.8 1.0 1.3 1.1 13.1 4.2 Public and publicly guaranteed 0.7 0.5 0.8 1.0 1.3 1.1 13.1 4.2 Official creditors 0.7 0.5 0.8 1.0 1.3 1.1 13.1 4.2 Multilateral 0.4 0.5 0.8 1.0 1.3 1.1 12.9 3.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.3 0.4 0.8 0.9 0.9 0.9 0.9 0.8 Bilateral 0.3 0.0 0.0 0.0 0.0 0.0 0.2 0.3 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 10.7 11.9 0.6 14.3 -16.3 4.9 -5.1 -9.7 Net flows on external debt 1.8 11.2 2.3 3.0 0.1 1.7 -8.1 -5.4 Cross-currency valuation 2.5 -3.4 -9.5 6.6 -12.0 6.9 7.2 -0.9 9. Debt restructurings Total amount rescheduled 0.0 2.0 0.0 0.0 0.0 0.0 68.6 0.0 Total amount forgiven 0.1 0.4 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 7.7 7.4 7.6 7.9 7.1 7.4 7.8 7.8 Interest 1.8 1.8 1.7 1.7 1.6 1.6 1.5 1.5 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 99 CONGO, DEMOCRATIC REPUBLIC OF 1. Summary external debt data External debt stocks 10,259 13,239 11,692 11,434 10,600 11,244 12,359 12,199 Long-term external debt 8,994 9,636 7,880 10,125 9,412 9,891 10,928 10,872 Public and publicly guaranteed 8,994 9,636 7,880 10,125 9,412 9,891 10,928 10,872 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 521 485 391 818 791 833 808 654 Short-term external debt 744 3,118 3,421 491 397 520 623 673 interest arrears on long-term 265 2,937 3,042 372 359 378 443 464 Memorandum items 1,050 4,569 4,949 938 1,186 1,279 1,530 1,676 8,994 9,621 7,867 10,125 9,412 9,891 10,928 10,872 0 15 13 0 0 0 0 0 109 14 0 434 45 45 0 0 External debt flows Disbursements 315 0 0 291 288 182 116 100 Long-term external debt 315 0 0 211 249 182 116 100 IMF purchases 0 0 0 79 39 0 0 0 Principal repayments 201 1 0 67 112 173 259 349 Long-term external debt 49 0 0 67 112 173 195 212 IMF repurchases 152 1 0 0 0 0 64 137 Net flows 88 61 20 315 95 113 -105 -220 Long-term external debt 266 0 0 144 137 9 -79 -112 Short-term external debt -27 63 20 92 -81 104 38 29 Interest payments 147 24 25 73 102 148 284 292 Long-term external debt 88 0 0 69 97 140 273 282 IMF charges 38 16 0 2 2 4 4 4 Short-term external debt 21 8 25 2 3 5 6 6 2. Other non-debt resource flows Foreign direct investment (net) 23 122 166 10 -76 -116 720 1,000 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 374 161 137 1,460 1,004 1,749 1,137 1,522 of which: Debt forgiveness grants .. .. 13 780 174 857 170 49 IDA grants .. .. .. 56 194 131 121 198 Memo: technical coop. grants 146 55 48 139 184 178 115 156 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 33.3 30.1 31.3 31.0 28.9 Japanese yen 3.0 3.7 4.8 7.8 7.3 6.8 6.3 7.9 Pound sterling 1.2 0.9 1.1 1.3 1.2 1.3 1.2 0.9 Swiss franc 0.2 0.3 0.2 0.3 0.3 0.3 0.3 0.3 U.S.dollars 41.5 40.8 44.6 43.1 46.0 45.2 41.8 42.1 4. Average terms of new commitments Official creditors Interest (%) 5.9 2.5 0.0 0.8 1.5 2.2 0.0 0.0 Maturity (years) 23.8 19.9 0.0 40.7 30.3 27.8 0.0 0.0 Grace period (years) 6.4 4.4 0.0 10.0 6.7 1.7 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 1.3 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 8,579 4,878 3,918 6,309 6,826 8,316 9,315 10,323 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves 261 157 83 236 131 155 181 .. Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 119.6 271.4 298.4 181.2 155.3 135.2 132.7 118.2 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 7.2 23.6 29.3 4.3 3.7 4.6 5.0 5.5 Multilateral to external debt stocks (%) 18.6 18.0 18.5 27.1 28.8 29.2 32.8 34.0 Reserves to external debt stocks (%) 2.5 1.2 0.7 2.1 1.2 1.4 1.5 .. Reserves to imports (months) .. .. .. .. .. .. .. .. 100 CONGO, DEMOCRATIC REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 8,994 9,636 7,880 10,125 9,412 9,891 10,928 10,872 Public and publicly guaranteed 8,994 9,636 7,880 10,125 9,412 9,891 10,928 10,872 Official creditors 8,105 8,758 7,384 9,749 9,042 9,524 10,571 10,520 Multilateral 1,912 2,382 2,164 3,098 3,050 3,280 4,056 4,150 of which: IBRD 49 92 81 0 0 0 0 0 IDA 1,112 1,321 1,188 1,993 2,050 2,251 2,402 2,437 Bilateral 6,193 6,376 5,220 6,651 5,992 6,244 6,515 6,371 Private creditors 889 878 496 376 370 367 357 351 of which: Bonds 5 5 3 1 1 1 0 0 Commercial banks 118 117 81 1 1 1 1 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 315 0 0 211 249 182 116 100 Public and publicly guaranteed 315 0 0 211 249 182 116 100 Official creditors 312 0 0 211 249 182 116 100 Multilateral 222 0 0 211 249 143 105 100 of which: IBRD 21 0 0 0 0 0 0 0 IDA 89 0 0 167 226 138 99 92 Bilateral 90 0 0 0 0 39 10 0 Private creditors 3 0 0 0 0 0 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 49 0 0 67 112 173 195 212 Public and publicly guaranteed 49 0 0 67 112 173 195 212 Official creditors 34 0 0 63 110 167 190 205 Multilateral 28 0 0 11 11 51 76 97 of which: IBRD 5 0 0 0 0 0 0 0 IDA 2 0 0 0 0 32 38 42 Bilateral 6 0 0 52 98 116 114 109 Private creditors 15 0 0 4 2 6 5 7 of which: Bonds 0 0 0 0 1 0 0 0 Commercial banks 5 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 88 0 0 69 97 140 273 282 Public and publicly guaranteed 88 0 0 69 97 140 273 282 Official creditors 76 0 0 68 95 138 271 279 Multilateral 40 0 0 48 52 68 117 130 of which: IBRD 1 0 0 0 0 0 0 0 IDA 7 0 0 11 12 18 18 18 Bilateral 36 0 0 20 43 70 153 149 Private creditors 12 0 0 0 1 2 2 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,007 918 -356 179 -834 643 1,116 -161 Net flows on external debt 88 61 20 315 95 113 -105 -220 Cross-currency valuation 400 95 -373 426 -816 478 647 -75 9. Debt restructurings Total amount rescheduled 446 0 0 49 34 0 0 0 Total amount forgiven 24 0 0 130 94 0 40 161 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 751 295 306 316 333 292 250 259 Interest 179 163 156 148 140 132 126 122 Private creditors Principal 61 4 4 4 4 4 1 1 Interest 2 1 1 1 1 0 0 0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $40,433 in thousands and $42,477 in thousands respectively. 101 CONGO, REPUBLIC OF 1. Summary external debt data External debt stocks 4,916 5,893 4,786 6,296 5,812 7,005 5,961 5,485 Long-term external debt 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 Public and publicly guaranteed 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 11 19 41 29 26 35 37 38 Short-term external debt 732 1,002 1,059 756 717 832 418 363 interest arrears on long-term 177 412 638 756 706 769 313 226 Memorandum items 569 950 1,728 2,649 2,502 2,658 1,073 877 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 0 0 0 0 0 0 0 0 192 31 0 40 6 0 10 8 External debt flows Disbursements 318 15 15 40 59 22 10 5 Long-term external debt 312 15 1 28 48 10 10 3 IMF purchases 5 0 14 12 12 12 0 2 Principal repayments 357 85 6 119 71 51 38 39 Long-term external debt 350 83 6 107 59 47 38 39 IMF repurchases 7 2 0 12 12 4 0 0 Net flows 99 165 -52 -111 -1 23 14 -2 Long-term external debt -38 -68 -5 -80 -12 -37 -28 -36 Short-term external debt 138 236 -61 -31 11 52 42 32 Interest payments 163 97 38 88 30 31 21 63 Long-term external debt 114 61 7 88 29 29 17 58 IMF charges 1 1 1 0 0 0 0 0 Short-term external debt 48 35 30 0 0 2 4 5 2. Other non-debt resource flows Foreign direct investment (net) -14 125 166 -9 514 1,488 2,638 2,622 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 326 466 647 1,296 1,403 1,651 0 Grants (excluding technical coop.) 50 86 31 77 1,289 252 100 504 of which: Debt forgiveness grants .. .. 9 5 1,234 157 13 351 IDA grants .. .. .. 6 11 10 13 16 Memo: technical coop. grants 51 41 19 32 32 30 46 36 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 37.5 33.4 29.1 32.4 31.9 Japanese yen 0.2 0.2 0.2 0.2 0.2 0.1 0.2 0.2 Pound sterling 5.4 3.5 4.9 3.7 4.1 3.6 3.3 2.4 Swiss franc 0.4 0.5 0.3 0.1 0.2 0.2 0.2 0.2 U.S.dollars 16.5 24.0 29.6 53.3 56.1 62.0 58.8 60.0 4. Average terms of new commitments Official creditors Interest (%) 4.3 2.2 0.0 0.8 4.2 0.0 1.0 2.8 Maturity (years) 16.9 31.8 0.0 42.4 23.7 0.0 19.7 19.5 Grace period (years) 7.2 9.0 0.0 10.4 7.2 0.0 5.2 4.8 Private creditors Interest (%) 9.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,324 1,228 2,275 3,247 4,509 5,961 5,548 8,367 Exports of goods, services & income 1,503 1,384 2,644 3,649 4,983 6,352 6,151 .. Worker remit. & comp. of employees .. 4 10 15 11 13 15 15 Imports of goods & services 1,757 2,050 2,013 2,947 4,318 6,202 8,294 .. International reserves 10 64 225 124 738 1,848 2,184 3,881 Current account balance -251 -625 648 674 696 124 -2,181 .. 6. Ratios External debt stocks to exports (%) 327.2 425.7 181.0 172.5 116.6 110.3 96.9 .. External debt stocks to GNI (%) 211.5 479.7 210.3 193.9 128.9 117.5 107.4 65.6 Debt service to exports (%) 34.6 13.2 1.7 5.7 2.0 1.3 1.0 .. Short-term to external debt stocks (%) 14.9 17.0 22.1 12.0 12.3 11.9 7.0 6.6 Multilateral to external debt stocks (%) 11.3 10.7 10.4 7.8 8.4 7.0 7.9 8.2 Reserves to external debt stocks (%) 0.2 1.1 4.7 2.0 12.7 26.4 36.6 70.8 Reserves to imports (months) 0.1 0.4 1.3 0.5 2.0 3.6 3.2 .. 102 CONGO, REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 Public and publicly guaranteed 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 Official creditors 3,033 3,964 2,926 3,300 2,961 4,000 3,977 3,534 Multilateral 555 631 499 492 490 490 472 450 of which: IBRD 164 105 65 0 0 0 0 0 IDA 75 174 159 269 280 295 303 299 Bilateral 2,478 3,333 2,427 2,808 2,472 3,511 3,505 3,084 Private creditors 1,139 908 760 2,210 2,108 2,137 1,529 1,550 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 724 785 693 2,113 2,023 2,043 1,448 1,453 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 312 15 1 28 48 10 10 3 Public and publicly guaranteed 312 15 1 28 48 10 10 3 Official creditors 127 15 1 28 48 10 10 3 Multilateral 11 1 0 27 45 8 9 3 of which: IBRD 2 1 0 0 0 0 0 0 IDA 0 0 0 27 35 8 2 3 Bilateral 116 14 1 1 3 2 1 0 Private creditors 185 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 174 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 350 83 6 107 59 47 38 39 Public and publicly guaranteed 350 83 6 107 59 47 38 39 Official creditors 66 33 6 107 59 47 38 33 Multilateral 26 20 6 99 44 28 22 15 of which: IBRD 6 18 2 3 0 0 0 0 IDA 0 1 1 4 5 5 5 5 Bilateral 40 13 0 9 16 19 16 19 Private creditors 283 50 0 0 0 0 0 6 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 255 46 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 114 61 7 88 29 29 17 58 Public and publicly guaranteed 114 61 7 88 29 29 17 58 Official creditors 62 21 7 88 29 29 17 34 Multilateral 25 11 7 84 26 14 11 9 of which: IBRD 12 10 1 0 0 0 0 0 IDA 1 1 1 2 2 2 2 2 Bilateral 38 9 0 4 4 15 6 25 Private creditors 51 40 0 0 0 0 0 24 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 44 39 0 0 0 0 0 23 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 685 587 -138 897 -483 1,193 -1,044 -476 Net flows on external debt 99 165 -52 -111 -1 23 14 -2 Cross-currency valuation 316 116 -157 201 -319 241 236 -149 9. Debt restructurings Total amount rescheduled 780 108 0 1,097 86 124 802 107 Total amount forgiven 0 24 0 1,349 142 144 1,297 366 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 289 77 109 143 150 155 148 148 Interest 30 17 36 54 51 47 44 41 Private creditors Principal 2 2 2 25 48 48 48 48 Interest 24 24 24 24 23 21 20 18 Notes: Data include the effects of London Club debt restructuring agreement signed in 2007 and Paris Club debt restructuring agreement signed in 2008. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $3,616 in thousands and $3,596 in thousands respectively. 103 COSTA RICA 1. Summary external debt data External debt stocks 3,748 3,774 4,642 5,712 6,487 6,994 8,341 8,812 Long-term external debt 3,360 3,320 3,694 4,040 4,390 4,639 5,107 4,948 Public and publicly guaranteed 3,056 3,106 3,458 3,515 3,159 3,313 3,586 3,043 Private nonguaranteed 304 214 236 525 1,231 1,325 1,521 1,904 Use of IMF credit 11 24 0 0 0 0 0 0 Short-term external debt 377 430 948 1,672 2,097 2,355 3,234 3,864 interest arrears on long-term 77 32 12 2 2 2 0 0 Memorandum items 171 98 29 0 0 0 0 0 3,053 3,104 3,457 3,515 3,159 3,313 3,586 3,043 308 216 237 525 1,231 1,325 1,521 1,904 230 25 824 292 358 211 115 324 External debt flows Disbursements 206 211 758 822 985 458 541 897 Long-term external debt 206 211 758 822 985 458 541 897 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 297 401 388 692 569 497 554 1,091 Long-term external debt 272 357 388 692 569 497 554 1,091 IMF repurchases 26 44 0 0 0 0 0 0 Net flows -111 -148 549 190 841 219 867 437 Long-term external debt -65 -146 370 130 416 -39 -13 -194 Short-term external debt -20 42 179 60 425 258 880 630 Interest payments 207 251 262 220 274 293 346 470 Long-term external debt 172 225 206 154 179 176 206 364 IMF charges 3 3 0 0 0 0 0 0 Short-term external debt 32 23 56 66 94 118 140 106 2. Other non-debt resource flows Foreign direct investment (net) 163 337 409 794 861 1,469 1,896 2,021 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 60 109 1,141 330 743 853 1,131 713 Grants (excluding technical coop.) 110 30 23 30 23 30 62 39 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 73 77 23 28 28 29 45 37 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.7 1.5 1.4 1.6 1.7 Japanese yen 3.0 8.2 4.0 3.0 2.7 2.1 2.5 4.2 Pound sterling 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 58.2 49.0 69.7 72.3 77.2 80.2 82.5 87.1 4. Average terms of new commitments Official creditors Interest (%) 6.4 2.2 6.3 6.3 5.7 2.3 5.5 4.5 Maturity (years) 17.6 7.3 4.3 8.3 17.5 22.1 11.0 18.2 Grace period (years) 5.0 1.2 1.8 3.2 4.0 6.5 4.8 4.3 Private creditors Interest (%) 9.5 6.9 8.3 6.5 8.2 6.9 0.0 0.0 Maturity (years) 3.2 6.0 17.3 10.0 12.1 10.3 0.0 0.0 Grace period (years) 1.1 1.5 17.3 10.0 0.5 10.3 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 7,151 11,497 14,697 17,818 19,174 21,788 25,468 29,053 Exports of goods, services & income 2,094 4,713 8,113 9,058 10,928 12,698 14,155 14,924 Worker remit. & comp. of employees 12 123 136 320 420 513 618 605 Imports of goods & services 2,709 5,089 8,793 9,764 11,779 13,580 15,675 17,511 International reserves 525 1,060 1,318 1,923 2,314 3,117 4,115 3,801 Current account balance -424 -358 -707 -796 -981 -1,023 -1,646 -2,729 6. Ratios External debt stocks to exports (%) 179.1 80.1 57.2 63.1 59.4 55.1 58.9 59.0 External debt stocks to GNI (%) 52.4 32.8 31.6 32.1 33.8 32.1 32.8 30.3 Debt service to exports (%) 24.1 13.8 8.0 10.1 7.7 6.2 6.4 10.5 Short-term to external debt stocks (%) 10.1 11.4 20.4 29.3 32.3 33.7 38.8 43.9 Multilateral to external debt stocks (%) 30.4 36.6 28.1 25.1 18.1 18.0 13.5 10.2 Reserves to external debt stocks (%) 14.0 28.1 28.4 33.7 35.7 44.6 49.3 43.1 Reserves to imports (months) 2.3 2.5 1.8 2.4 2.4 2.8 3.2 2.6 104 COSTA RICA 7. Long-term external debt Debt outstanding and disbursed 3,360 3,320 3,694 4,040 4,390 4,639 5,107 4,948 Public and publicly guaranteed 3,056 3,106 3,458 3,515 3,159 3,313 3,586 3,043 Official creditors 2,352 2,494 1,867 1,665 1,368 1,450 1,412 1,235 Multilateral 1,140 1,380 1,305 1,432 1,174 1,258 1,123 903 of which: IBRD 409 300 121 71 59 53 45 41 IDA 3 3 2 1 1 1 1 0 Bilateral 1,212 1,115 563 233 195 192 289 332 Private creditors 704 611 1,591 1,850 1,791 1,864 2,174 1,808 of which: Bonds 609 572 1,542 1,710 1,669 1,685 1,900 1,660 Commercial banks 41 3 23 119 102 161 257 133 Private nonguaranteed 304 214 236 525 1,231 1,325 1,521 1,904 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 206 211 758 822 985 458 541 897 Public and publicly guaranteed 201 201 749 269 75 142 49 231 Official creditors 170 200 249 193 75 92 49 231 Multilateral 89 183 130 192 69 77 33 167 of which: IBRD 5 16 6 8 5 5 1 4 IDA 0 0 0 0 0 0 0 0 Bilateral 81 18 118 0 6 15 16 63 Private creditors 31 0 500 76 0 50 0 0 of which: Bonds 0 0 500 60 0 50 0 0 Commercial banks 30 0 0 16 0 0 0 0 Private nonguaranteed 5 10 9 554 910 316 492 666 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 272 357 388 692 569 497 554 1,091 Public and publicly guaranteed 266 333 371 488 364 275 258 808 Official creditors 95 323 334 206 306 229 216 442 Multilateral 79 176 154 169 275 212 190 401 of which: IBRD 45 55 33 17 17 11 9 8 IDA 0 0 0 0 0 0 0 0 Bilateral 16 147 180 38 30 17 26 41 Private creditors 171 10 37 282 59 45 42 366 of which: Bonds 42 4 30 261 41 34 35 240 Commercial banks 124 2 4 20 17 11 7 123 Private nonguaranteed 6 24 17 204 204 222 296 283 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 172 225 206 154 179 176 206 364 Public and publicly guaranteed 170 204 190 123 105 95 114 237 Official creditors 105 163 104 68 63 53 41 69 Multilateral 77 95 84 62 57 50 39 59 of which: IBRD 33 27 12 4 3 3 3 3 IDA 0 0 0 0 0 0 0 0 Bilateral 28 67 20 6 5 3 2 10 Private creditors 65 42 86 55 43 42 73 168 of which: Bonds 24 37 80 48 39 37 68 152 Commercial banks 36 0 2 5 3 5 4 14 Private nonguaranteed 2 21 16 32 74 80 92 126 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -837 -110 489 110 774 507 1,348 470 Net flows on external debt -111 -148 549 190 841 219 867 437 Cross-currency valuation 52 24 -28 28 -38 146 26 37 9. Debt restructurings Total amount rescheduled 641 0 0 0 0 0 0 0 Total amount forgiven 855 3 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 204 188 180 177 198 172 164 123 Interest 63 59 54 48 42 35 29 23 Private creditors Principal 740 320 563 477 444 459 128 155 Interest 224 191 163 139 97 75 49 41 Notes: Data on long-term private nonguaranteed debt for 2008 are World Bank staff estimates. Short-term debt is based on reports provided by the country. 105 COTE D'IVOIRE 1. Summary external debt data External debt stocks 17,251 18,899 12,138 13,200 11,912 12,764 13,865 12,561 Long-term external debt 13,223 14,562 10,546 12,092 10,866 11,605 12,237 11,028 Public and publicly guaranteed 10,665 11,902 9,063 11,082 9,965 10,823 11,646 10,615 Private nonguaranteed 2,558 2,660 1,482 1,010 900 782 591 414 Use of IMF credit 431 427 549 311 198 150 173 188 Short-term external debt 3,597 3,910 1,043 796 848 1,010 1,455 1,344 interest arrears on long-term 819 1,020 79 689 848 1,010 1,455 1,344 Memorandum items 1,727 2,686 169 1,247 1,499 2,033 2,497 2,218 10,663 11,901 9,063 11,082 9,965 10,823 11,646 10,615 2,560 2,661 1,482 1,010 900 782 591 414 764 716 72 51 40 58 162 0 External debt flows Disbursements 1,172 924 148 64 55 116 140 110 Long-term external debt 1,019 743 148 64 55 116 77 46 IMF purchases 153 181 0 0 0 0 62 64 Principal repayments 621 625 481 334 255 217 345 825 Long-term external debt 498 539 442 207 164 160 298 781 IMF repurchases 123 86 39 127 91 57 47 44 Net flows 1,189 935 -617 -720 -308 -101 -206 -715 Long-term external debt 521 204 -294 -143 -109 -44 -221 -735 Short-term external debt 639 636 -283 -450 -108 0 0 0 Interest payments 641 421 539 56 50 50 84 221 Long-term external debt 443 390 462 45 46 49 82 216 IMF charges 31 8 3 2 1 1 1 5 Short-term external debt 167 23 74 10 3 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 48 211 235 283 312 319 427 402 Portfolio equity flows 0 1 1 -5 14 2 2 79 Profit remittances on FDI 75 204 284 364 370 478 531 0 Grants (excluding technical coop.) 287 454 238 223 158 199 239 728 of which: Debt forgiveness grants .. .. 104 119 56 46 41 39 IDA grants .. .. .. 0 0 0 0 339 Memo: technical coop. grants 129 123 72 77 67 130 60 59 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 53.9 51.9 53.4 55.6 56.3 Japanese yen 0.9 1.4 1.4 1.3 1.3 1.2 1.1 1.6 Pound sterling 1.3 0.9 0.6 0.4 0.4 0.4 0.4 0.3 Swiss franc 2.3 0.5 0.2 0.2 0.2 0.2 0.2 0.2 U.S.dollars 15.5 22.0 53.7 35.6 37.7 35.9 34.1 33.0 4. Average terms of new commitments Official creditors Interest (%) 5.9 1.9 0.8 1.1 1.7 0.2 4.8 0.0 Maturity (years) 20.0 29.8 46.2 23.8 20.0 7.8 14.9 0.0 Grace period (years) 6.3 8.5 9.6 6.8 5.7 1.7 4.4 0.0 Private creditors Interest (%) 0.0 14.5 0.0 0.0 0.0 0.0 0.5 0.0 Maturity (years) 0.0 19.6 0.0 0.0 0.0 0.0 11.7 0.0 Grace period (years) 0.0 0.1 0.0 0.0 0.0 0.0 3.7 0.0 5. Major economic aggregates Gross national income (GNI) 9,209 10,013 9,715 14,763 15,643 16,590 18,913 22,442 Exports of goods, services & income 3,561 4,526 4,512 7,873 8,726 9,520 9,822 11,338 Worker remit. & comp. of employees 44 151 119 159 163 167 185 195 Imports of goods & services 4,594 4,782 4,423 7,165 8,222 8,508 9,616 10,505 International reserves 21 529 668 1,694 1,322 1,798 2,519 2,252 Current account balance -1,214 -492 -241 241 40 479 -139 488 6. Ratios External debt stocks to exports (%) 484.5 417.5 269.0 167.7 136.5 134.1 141.2 110.8 External debt stocks to GNI (%) 187.3 188.7 124.9 89.4 76.2 76.9 73.3 56.0 Debt service to exports (%) 35.4 23.1 22.6 5.0 3.5 2.8 4.4 9.2 Short-term to external debt stocks (%) 20.8 20.7 8.6 6.0 7.1 7.9 10.5 10.7 Multilateral to external debt stocks (%) 20.8 20.6 24.4 25.8 25.9 26.1 25.0 23.0 Reserves to external debt stocks (%) 0.1 2.8 5.5 12.8 11.1 14.1 18.2 17.9 Reserves to imports (months) 0.1 1.3 1.8 2.8 1.9 2.5 3.1 2.6 106 COTE D'IVOIRE 7. Long-term external debt Debt outstanding and disbursed 13,223 14,562 10,546 12,092 10,866 11,605 12,237 11,028 Public and publicly guaranteed 10,665 11,902 9,063 11,082 9,965 10,823 11,646 10,615 Official creditors 7,686 9,217 6,669 8,594 7,673 8,384 9,062 8,116 Multilateral 3,585 3,900 2,958 3,404 3,087 3,330 3,471 2,892 of which: IBRD 1,913 1,573 599 479 423 456 479 117 IDA 7 813 1,366 1,904 1,763 1,847 1,909 1,797 Bilateral 4,101 5,317 3,711 5,190 4,586 5,054 5,591 5,224 Private creditors 2,980 2,685 2,394 2,488 2,292 2,439 2,584 2,499 of which: Bonds 0 0 2,343 0 0 0 0 0 Commercial banks 2,640 2,630 14 2,488 2,292 2,439 2,584 2,499 Private nonguaranteed 2,558 2,660 1,482 1,010 900 782 591 414 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,019 743 148 64 55 116 77 46 Public and publicly guaranteed 769 670 148 64 21 88 57 27 Official creditors 758 669 148 63 21 88 57 27 Multilateral 460 340 148 51 11 71 35 24 of which: IBRD 261 19 0 0 0 0 0 0 IDA 0 226 76 38 0 0 0 13 Bilateral 298 329 0 13 10 17 22 3 Private creditors 11 1 0 1 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 1 0 1 0 0 0 0 Private nonguaranteed 250 73 0 0 34 28 20 19 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 498 539 442 207 164 160 298 781 Public and publicly guaranteed 319 514 329 73 21 14 112 585 Official creditors 247 479 283 73 21 13 112 585 Multilateral 230 286 143 73 20 12 106 584 of which: IBRD 125 199 57 38 0 0 30 377 IDA 0 0 0 5 0 0 16 117 Bilateral 16 193 140 0 0 1 6 1 Private creditors 72 36 46 0 0 0 0 0 of which: Bonds 1 0 46 0 0 0 0 0 Commercial banks 25 5 0 0 0 0 0 0 Private nonguaranteed 179 25 113 134 143 146 187 196 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 443 390 462 45 46 49 82 216 Public and publicly guaranteed 205 257 342 21 3 2 41 183 Official creditors 187 252 189 21 3 2 41 183 Multilateral 176 172 78 21 3 2 41 183 of which: IBRD 141 135 32 11 0 0 10 83 IDA 0 5 8 6 0 0 8 61 Bilateral 12 81 111 0 0 0 1 1 Private creditors 18 5 153 0 0 0 0 0 of which: Bonds 0 0 153 0 0 0 0 0 Commercial banks 7 1 0 0 0 0 0 0 Private nonguaranteed 237 133 120 23 43 47 41 33 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 2,430 1,503 -1,032 1,024 -1,287 852 1,101 -1,305 Net flows on external debt 1,189 935 -617 -720 -308 -101 -206 -715 Cross-currency valuation 829 17 -468 396 -1,089 747 860 -373 9. Debt restructurings Total amount rescheduled 930 381 72 0 0 0 0 0 Total amount forgiven 50 322 29 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 568 422 388 351 313 310 306 306 Interest 198 177 163 149 137 127 117 107 Private creditors Principal 323 311 281 269 258 251 245 245 Interest 86 69 55 44 35 27 20 13 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. Country has no short-term debt since 2005. 107 DJIBOUTI 1. Summary external debt data External debt stocks 155.3 272.4 258.2 419.8 406.8 451.8 656.9 685.0 Long-term external debt 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 Public and publicly guaranteed 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 13.4 21.2 18.7 18.0 16.1 17.4 Short-term external debt 0.1 3.5 6.5 9.1 9.2 10.2 5.9 0.7 interest arrears on long-term 0.1 3.5 6.5 9.1 9.2 10.2 5.9 0.7 Memorandum items 1.2 13.1 22.7 20.3 22.2 26.8 40.4 2.2 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.2 0.0 48.6 60.2 68.6 41.1 22.7 21.2 External debt flows Disbursements 27.0 18.4 11.3 27.1 26.5 44.5 39.0 52.0 Long-term external debt 27.0 18.4 7.7 27.1 26.5 44.5 39.0 45.9 IMF purchases 0.0 0.0 3.6 0.0 0.0 0.0 0.0 6.1 Principal repayments 8.9 9.2 10.7 13.5 11.9 16.1 16.0 18.9 Long-term external debt 8.9 9.2 8.4 13.3 11.0 14.5 13.2 14.6 IMF repurchases 0.0 0.0 2.3 0.2 0.8 1.6 2.8 4.3 Net flows 18.0 9.2 0.7 13.7 14.7 28.4 23.0 33.1 Long-term external debt 18.0 9.2 -0.7 13.8 15.5 30.0 25.8 31.4 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.1 2.0 2.6 4.4 3.8 5.0 6.6 7.3 Long-term external debt 2.1 2.0 2.2 4.3 3.7 4.9 6.5 7.2 IMF charges 0.0 0.0 0.4 0.1 0.1 0.1 0.1 0.1 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 0.0 3.2 3.3 38.5 22.2 108.3 195.4 253.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 4.6 4.2 6.0 5.9 5.9 4.2 5.0 Grants (excluding technical coop.) 130.7 48.8 27.9 30.6 41.4 65.0 82.8 80.3 of which: Debt forgiveness grants .. .. 0.7 0.1 0.1 0.1 0.1 0.1 IDA grants .. .. .. 2.6 4.6 4.7 2.7 2.5 Memo: technical coop. grants 43.8 45.7 23.6 29.2 31.6 42.0 19.9 14.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 15.2 13.1 13.4 31.9 30.4 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 13.9 12.4 16.2 33.2 34.2 34.0 26.6 25.9 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 2.3 2.3 1.3 1.8 3.9 2.2 Maturity (years) 39.7 0.0 29.9 30.7 38.0 10.9 24.8 23.1 Grace period (years) 10.2 0.0 6.9 6.7 9.0 6.5 5.8 4.5 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 515.0 567.0 731.1 775.8 834.4 893.0 950.8 Exports of goods, services & income .. 221.8 219.2 287.0 322.8 345.1 345.3 413.8 Worker remit. & comp. of employees .. 12.0 .. 24.7 25.9 28.5 28.6 30.3 Imports of goods & services .. 263.5 287.1 349.3 372.3 436.8 592.3 714.8 International reserves 93.6 72.2 67.8 93.9 89.3 120.3 132.1 .. Current account balance .. 17.5 -19.0 3.2 20.1 -16.6 -171.4 -225.4 6. Ratios External debt stocks to exports (%) .. 122.9 117.8 146.3 126.0 130.9 190.2 165.5 External debt stocks to GNI (%) .. 52.9 45.5 57.4 52.4 54.1 73.6 72.0 Debt service to exports (%) .. 5.0 6.1 6.2 4.8 6.1 6.5 6.3 Short-term to external debt stocks (%) 0.0 1.3 2.5 2.2 2.3 2.3 0.9 0.1 Multilateral to external debt stocks (%) 55.4 50.1 53.6 65.7 66.0 67.7 52.8 53.0 Reserves to external debt stocks (%) 60.3 26.5 26.3 22.4 21.9 26.6 20.1 .. Reserves to imports (months) .. 3.3 2.8 3.2 2.9 3.3 2.7 .. 108 DJIBOUTI 7. Long-term external debt Debt outstanding and disbursed 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 Public and publicly guaranteed 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 Official creditors 155.2 268.9 238.3 384.0 373.3 418.0 622.6 654.5 Multilateral 86.1 136.4 138.3 275.8 268.7 305.7 347.0 362.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 31.1 46.2 49.9 126.4 120.3 133.3 147.2 151.6 Bilateral 69.2 132.5 100.0 108.2 104.6 112.3 275.6 291.7 Private creditors 0.0 0.0 0.0 5.6 5.6 5.6 12.3 12.4 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 5.6 5.6 5.6 12.3 12.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 27.0 18.4 7.7 27.1 26.5 44.5 39.0 45.9 Public and publicly guaranteed 27.0 18.4 7.7 27.1 26.5 44.5 39.0 45.9 Official creditors 27.0 18.4 7.7 27.1 26.5 44.5 39.0 45.9 Multilateral 8.9 10.0 7.7 26.0 16.2 34.2 29.6 24.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.5 2.8 3.9 9.8 4.7 8.2 9.7 7.2 Bilateral 18.0 8.4 0.0 1.2 10.3 10.4 9.4 21.9 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 8.9 9.2 8.4 13.3 11.0 14.5 13.2 14.6 Public and publicly guaranteed 8.9 9.2 8.4 13.3 11.0 14.5 13.2 14.6 Official creditors 8.3 9.2 8.4 13.3 11.0 14.5 13.2 14.6 Multilateral 3.5 4.4 4.0 5.3 5.1 8.2 7.9 8.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.3 0.5 1.2 1.4 1.2 1.8 1.6 Bilateral 4.8 4.8 4.4 8.0 6.0 6.3 5.3 5.9 Private creditors 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.1 2.0 2.2 4.3 3.7 4.9 6.5 7.2 Public and publicly guaranteed 2.1 2.0 2.2 4.3 3.7 4.9 6.5 7.2 Official creditors 2.1 2.0 2.2 4.3 3.7 4.9 6.5 7.2 Multilateral 1.3 0.9 1.4 2.8 2.7 3.9 4.6 5.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.2 0.3 0.4 1.1 1.0 0.8 1.1 1.3 Bilateral 0.8 1.1 0.8 1.6 1.0 1.1 1.9 2.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 24.0 14.8 -9.6 29.5 -13.0 45.0 205.1 28.1 Net flows on external debt 18.0 9.2 0.7 13.7 14.7 28.4 23.0 33.1 Cross-currency valuation 3.0 1.8 -6.5 10.6 -18.9 12.1 18.9 -7.4 9. Debt restructurings Total amount rescheduled 0.0 0.0 2.1 0.0 0.0 0.0 0.0 56.9 Total amount forgiven 0.0 0.0 0.0 0.0 0.6 2.1 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 26.9 28.8 30.4 48.6 27.8 25.9 26.3 29.4 Interest 7.9 8.4 8.6 9.5 8.7 8.3 7.9 7.4 Private creditors Principal 2.5 2.5 2.5 2.5 0.1 0.1 0.1 0.1 Interest 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1 Notes: Data on long-term public and publicly guaranteed debt include the effects of Paris Club debt restructuring agreement signed in 2008. 109 DOMINICA 1. Summary external debt data External debt stocks 88.0 103.3 164.8 304.4 273.7 253.5 289.6 303.2 Long-term external debt 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 Public and publicly guaranteed 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 5.7 1.7 0.0 9.2 11.6 14.0 12.1 15.0 Short-term external debt 2.0 6.7 19.0 70.1 40.6 22.0 63.0 83.1 interest arrears on long-term 0.0 0.2 0.0 3.1 8.6 11.0 14.0 17.1 Memorandum items 0.2 1.8 0.3 3.1 6.5 6.0 11.2 10.3 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.4 5.1 57.3 13.5 25.8 0.0 6.0 2.4 External debt flows Disbursements 11.5 9.5 56.2 30.1 8.0 6.5 4.9 6.8 Long-term external debt 11.5 9.5 56.2 29.2 4.5 3.1 4.9 3.5 IMF purchases 0.0 0.0 0.0 0.9 3.5 3.4 0.0 3.2 Principal repayments 3.8 4.4 6.7 7.6 10.0 11.0 12.7 12.1 Long-term external debt 2.5 3.6 6.7 7.6 9.6 9.4 10.3 12.1 IMF repurchases 1.4 0.9 0.0 0.0 0.4 1.6 2.5 0.0 Net flows 7.8 4.6 49.7 19.5 -37.0 -25.5 30.1 11.7 Long-term external debt 9.0 5.9 49.5 21.6 -5.2 -6.3 -5.4 -8.6 Short-term external debt 0.1 -0.5 0.2 -3.0 -35.0 -21.0 38.0 17.0 Interest payments 2.0 2.4 4.1 8.8 6.2 6.8 6.6 6.2 Long-term external debt 1.6 2.0 3.0 6.6 4.6 5.5 4.9 4.3 IMF charges 0.2 0.0 0.0 0.1 0.2 0.2 0.1 0.2 Short-term external debt 0.2 0.4 1.1 2.1 1.5 1.1 1.6 1.7 2. Other non-debt resource flows Foreign direct investment (net) 12.9 54.1 17.6 26.2 19.2 25.9 53.2 52.1 Portfolio equity flows -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 5.4 12.2 33.0 21.8 22.7 7.4 9.7 10.1 Grants (excluding technical coop.) 3.1 24.6 5.0 17.7 6.2 16.6 19.8 21.5 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 1.0 1.1 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 2.9 3.6 3.3 2.4 2.8 1.4 2.0 2.4 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.0 5.4 3.9 3.4 2.7 Japanese yen 0.3 1.1 0.4 0.0 0.0 0.0 0.0 0.0 Pound sterling 16.5 13.3 2.8 0.1 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 51.7 60.8 81.1 85.1 86.0 87.3 86.8 86.9 4. Average terms of new commitments Official creditors Interest (%) 3.0 2.6 5.2 0.8 2.4 0.0 0.8 0.8 Maturity (years) 25.2 26.4 21.3 34.7 21.9 0.0 34.5 34.4 Grace period (years) 8.5 8.8 6.9 10.2 7.6 0.0 10.0 9.9 Private creditors Interest (%) 0.0 0.0 1.9 3.5 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 9.2 28.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 2.3 15.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 161.4 210.7 231.9 253.5 274.3 282.5 325.0 347.6 Exports of goods, services & income 102.8 121.6 162.1 152.7 155.7 171.6 167.5 .. Worker remit. & comp. of employees 14.0 3.0 3.0 23.2 25.0 25.4 26.0 30.0 Imports of goods & services 142.9 158.9 227.1 211.3 231.0 221.8 255.8 .. International reserves 14.5 22.1 29.4 42.3 49.2 63.0 60.5 55.2 Current account balance -43.5 -40.2 -59.8 -60.2 -76.1 -51.6 -89.7 .. 6. Ratios External debt stocks to exports (%) 85.5 85.0 101.7 199.3 175.8 147.7 172.9 .. External debt stocks to GNI (%) 54.5 49.0 71.1 120.1 99.8 89.7 89.1 87.2 Debt service to exports (%) 5.6 5.6 6.7 10.8 10.4 10.4 11.5 .. Short-term to external debt stocks (%) 2.3 6.5 11.5 23.0 14.8 8.7 21.8 27.4 Multilateral to external debt stocks (%) 65.7 59.6 49.5 41.2 44.1 45.9 40.1 36.6 Reserves to external debt stocks (%) 16.4 21.4 17.8 13.9 18.0 24.9 20.9 18.2 Reserves to imports (months) 1.2 1.7 1.6 2.4 2.6 3.4 2.8 .. 110 DOMINICA 7. Long-term external debt Debt outstanding and disbursed 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 Public and publicly guaranteed 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 Official creditors 80.2 94.9 114.2 165.4 161.6 157.4 154.3 145.1 Multilateral 57.8 61.6 81.6 125.3 120.6 116.3 116.2 111.0 of which: IBRD 0.0 0.0 2.4 4.1 3.9 3.3 2.5 1.8 IDA 10.4 12.2 13.6 23.2 21.7 22.5 25.4 26.5 Bilateral 22.4 33.3 32.7 40.1 40.9 41.2 38.1 34.1 Private creditors 0.1 0.0 31.6 59.6 60.0 60.0 60.0 60.0 of which: Bonds 0.0 0.0 31.6 36.6 36.6 36.6 36.6 36.6 Commercial banks 0.1 0.0 0.0 20.5 21.0 21.0 21.0 21.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 11.5 9.5 56.2 29.2 4.5 3.1 4.9 3.5 Public and publicly guaranteed 11.5 9.5 56.2 29.2 4.5 3.1 4.9 3.5 Official creditors 11.5 9.5 25.7 18.7 4.5 3.1 4.9 3.5 Multilateral 8.3 3.5 19.3 18.2 3.9 2.6 4.7 3.5 of which: IBRD 0.0 0.0 0.7 0.4 0.3 0.0 0.0 0.0 IDA 0.9 0.1 -0.1 4.3 0.5 0.1 2.3 1.8 Bilateral 3.2 6.0 6.3 0.5 0.6 0.5 0.1 0.0 Private creditors 0.0 0.0 30.5 10.5 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 30.5 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 10.5 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.5 3.6 6.7 7.6 9.6 9.4 10.3 12.1 Public and publicly guaranteed 2.5 3.6 6.7 7.6 9.6 9.4 10.3 12.1 Official creditors 2.4 3.6 6.7 7.6 9.6 9.4 10.3 12.1 Multilateral 2.1 2.0 3.7 6.0 7.8 7.8 6.6 8.2 of which: IBRD 0.0 0.0 0.0 0.4 0.4 0.6 0.8 0.8 IDA 0.0 0.1 0.1 0.2 0.3 0.3 0.4 0.5 Bilateral 0.3 1.6 3.0 1.6 1.8 1.6 3.7 4.0 Private creditors 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.6 2.0 3.0 6.6 4.6 5.5 4.9 4.3 Public and publicly guaranteed 1.6 2.0 3.0 6.6 4.6 5.5 4.9 4.3 Official creditors 1.6 2.0 2.9 3.6 4.1 4.7 4.2 3.8 Multilateral 1.4 1.5 1.9 2.4 3.1 3.1 3.0 2.6 of which: IBRD 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.1 IDA 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 Bilateral 0.2 0.4 1.0 1.2 1.0 1.6 1.2 1.2 Private creditors 0.0 0.0 0.1 3.1 0.5 0.8 0.7 0.5 of which: Bonds 0.0 0.0 0.1 3.1 0.1 0.1 0.1 0.1 Commercial banks 0.0 0.0 0.0 0.0 0.4 0.8 0.6 0.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 10.4 5.2 49.3 18.3 -30.7 -20.3 36.1 13.6 Net flows on external debt 7.8 4.6 49.7 19.5 -37.0 -25.5 30.1 11.7 Cross-currency valuation 4.7 1.2 -2.6 2.9 -5.0 3.4 3.3 -1.1 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 17.8 14.6 11.5 0.0 0.0 Total amount forgiven 3.3 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 20.6 9.1 8.9 7.9 8.7 8.5 8.6 8.3 Interest 3.2 2.9 2.9 2.8 2.7 2.5 2.3 2.1 Private creditors Principal 5.6 0.4 0.0 0.0 0.0 30.6 0.0 0.0 Interest 3.6 3.4 3.4 3.4 3.4 3.4 0.6 0.6 111 DOMINICAN REPUBLIC 1. Summary external debt data External debt stocks 4,372 4,447 4,541 7,291 7,387 8,796 10,431 10,484 Long-term external debt 3,518 3,672 3,311 6,142 6,086 6,877 7,407 7,989 Public and publicly guaranteed 3,419 3,653 3,311 6,142 6,084 6,463 6,562 7,146 Private nonguaranteed 99 19 0 0 2 414 845 843 Use of IMF credit 72 160 52 204 400 459 548 492 Short-term external debt 782 616 1,178 945 901 1,460 2,476 2,003 interest arrears on long-term 506 214 28 28 20 9 9 3 Memorandum items 614 320 56 78 145 33 14 16 3,391 3,626 3,299 6,133 6,076 6,457 6,557 7,141 127 46 13 9 9 420 851 848 204 167 445 468 811 1,304 343 910 External debt flows Disbursements 138 195 303 1,149 1,094 1,709 1,452 1,419 Long-term external debt 138 195 303 1,084 874 1,568 1,275 1,297 IMF purchases 0 0 0 65 220 142 177 122 Principal repayments 146 234 257 474 810 1,094 899 876 Long-term external debt 88 200 257 474 810 989 785 711 IMF repurchases 58 34 0 0 0 105 114 164 Net flows 15 105 311 551 248 1,185 1,568 76 Long-term external debt 50 -5 46 610 65 578 490 586 Short-term external debt 23 143 265 -124 -36 570 1,016 -467 Interest payments 86 175 263 330 255 348 467 561 Long-term external debt 59 145 211 286 219 283 341 457 IMF charges 9 10 3 5 9 22 26 24 Short-term external debt 19 20 50 39 27 42 100 80 2. Other non-debt resource flows Foreign direct investment (net) 133 414 953 909 1,123 1,528 1,579 2,885 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 90 624 1,068 1,652 1,765 1,932 2,106 1,722 Grants (excluding technical coop.) 29 41 44 64 76 83 192 169 of which: Debt forgiveness grants .. .. 0 0 0 1 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 44 51 57 59 64 69 37 47 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.6 2.0 2.6 5.1 6.7 Japanese yen 6.4 7.7 5.0 3.2 2.7 2.0 1.8 1.9 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 68.4 63.7 73.8 86.1 88.2 89.2 87.4 86.7 4. Average terms of new commitments Official creditors Interest (%) 5.8 6.6 6.8 3.5 1.7 4.2 3.7 2.2 Maturity (years) 24.9 20.2 12.8 12.7 21.5 21.1 21.2 23.8 Grace period (years) 6.4 5.2 1.3 4.3 4.1 4.6 4.1 3.5 Private creditors Interest (%) 9.8 8.4 6.5 0.0 3.2 6.4 6.5 6.0 Maturity (years) 9.1 9.5 10.3 0.0 3.9 14.0 9.2 7.1 Grace period (years) 4.6 2.0 2.7 0.0 1.2 8.7 2.2 2.6 5. Major economic aggregates Gross national income (GNI) 6,759 15,589 22,955 20,215 32,102 34,100 39,236 43,975 Exports of goods, services & income 2,233 6,653 10,953 11,992 12,928 14,615 15,817 .. Worker remit. & comp. of employees 315 839 1,839 2,501 2,719 3,084 3,414 3,487 Imports of goods & services 2,568 7,034 12,193 11,248 13,668 16,309 18,261 .. International reserves 69 373 632 806 1,853 2,127 2,562 2,288 Current account balance -280 -183 -1,027 1,041 -473 -1,288 -2,068 .. 6. Ratios External debt stocks to exports (%) 195.8 66.8 41.5 60.8 57.1 60.2 66.0 .. External debt stocks to GNI (%) 64.7 28.5 19.8 36.1 23.0 25.8 26.6 23.8 Debt service to exports (%) 10.4 6.1 4.8 6.7 8.2 9.9 8.6 .. Short-term to external debt stocks (%) 17.9 13.8 25.9 13.0 12.2 16.6 23.7 19.1 Multilateral to external debt stocks (%) 19.6 23.2 24.9 23.9 24.5 21.6 18.1 18.0 Reserves to external debt stocks (%) 1.6 8.4 13.9 11.1 25.1 24.2 24.6 21.8 Reserves to imports (months) 0.3 0.6 0.6 0.9 1.6 1.6 1.7 .. 112 DOMINICAN REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 3,518 3,672 3,311 6,142 6,086 6,877 7,407 7,989 Public and publicly guaranteed 3,419 3,653 3,311 6,142 6,084 6,463 6,562 7,146 Official creditors 2,383 2,996 2,565 3,068 3,261 3,580 3,705 4,422 Multilateral 858 1,033 1,132 1,744 1,807 1,901 1,886 1,883 of which: IBRD 238 282 292 379 405 438 472 449 IDA 20 17 14 11 11 10 9 9 Bilateral 1,525 1,962 1,433 1,324 1,454 1,679 1,819 2,538 Private creditors 1,036 657 746 3,074 2,823 2,884 2,858 2,724 of which: Bonds 0 520 506 1,527 1,134 1,414 1,394 1,374 Commercial banks 775 33 121 941 1,105 1,211 1,250 1,183 Private nonguaranteed 99 19 0 0 2 414 845 843 of which: Bonds 0 0 0 0 0 412 844 843 Disbursements 138 195 303 1,084 874 1,568 1,275 1,297 Public and publicly guaranteed 138 195 303 1,084 873 1,156 844 1,297 Official creditors 136 187 147 555 468 596 466 1,011 Multilateral 84 157 100 324 199 187 184 213 of which: IBRD 39 36 39 66 64 67 73 20 IDA 0 0 0 0 0 0 0 0 Bilateral 53 30 46 231 270 408 283 798 Private creditors 2 8 156 529 405 560 378 286 of which: Bonds 0 0 0 0 0 300 0 0 Commercial banks 0 8 90 396 308 224 362 283 Private nonguaranteed 0 0 0 0 2 412 431 0 of which: Bonds 0 0 0 0 0 412 431 0 Principal repayments 88 200 257 474 810 989 785 711 Public and publicly guaranteed 83 184 257 474 810 989 785 711 Official creditors 83 161 217 172 171 381 368 316 Multilateral 38 79 63 105 110 113 215 215 of which: IBRD 19 40 21 37 38 34 39 43 IDA 0 1 1 1 1 1 1 1 Bilateral 44 82 154 67 61 269 152 101 Private creditors 0 23 40 302 639 608 418 395 of which: Bonds 0 0 4 20 336 20 20 20 Commercial banks 0 3 18 163 208 224 341 326 Private nonguaranteed 5 16 0 0 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 59 145 211 286 219 283 341 457 Public and publicly guaranteed 56 143 211 286 219 282 285 349 Official creditors 55 120 158 91 108 140 146 137 Multilateral 32 51 58 77 82 90 98 87 of which: IBRD 14 20 22 21 21 23 25 24 IDA 0 0 0 0 0 0 0 0 Bilateral 23 69 100 14 26 51 48 50 Private creditors 1 23 53 196 111 141 139 212 of which: Bonds 0 13 38 111 15 63 61 129 Commercial banks 0 3 7 32 44 62 66 71 Private nonguaranteed 3 2 0 0 0 2 57 108 of which: Bonds 0 0 0 0 0 2 57 108 8. Debt stock-flow reconciliation Total change in external debt stocks 334 173 -145 652 96 1,408 1,635 53 Net flows on external debt 15 105 311 551 248 1,185 1,568 76 Cross-currency valuation 52 18 -51 10 98 214 55 8 9. Debt restructurings Total amount rescheduled 7 2 0 234 1,209 203 0 0 Total amount forgiven 7 0 1 0 0 0 0 0 Debt buyback 0 0 0 0 316 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 484 434 394 403 390 387 360 335 Interest 123 114 105 94 84 74 64 54 Private creditors Principal 436 266 659 601 394 111 71 73 Interest 276 264 257 173 121 105 102 98 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2005. Long-term private nonguaranteed debt data only cover Inter-American Development Bank and Bonds. 113 ECUADOR 1. Summary external debt data External debt stocks 12,107 13,877 13,244 16,944 16,877 16,889 17,369 16,851 Long-term external debt 10,029 12,391 12,299 14,790 15,081 14,877 15,474 15,187 Public and publicly guaranteed 9,865 11,951 10,864 10,355 10,411 9,896 10,290 9,595 Private nonguaranteed 164 440 1,435 4,435 4,670 4,981 5,184 5,592 Use of IMF credit 265 173 148 290 78 23 0 0 Short-term external debt 1,814 1,312 797 1,864 1,719 1,990 1,894 1,664 interest arrears on long-term 1,522 12 3 0 0 0 0 31 Memorandum items 1,096 10 6 5 5 0 0 1 9,865 11,951 10,864 10,355 10,411 9,896 10,286 9,578 164 440 1,435 4,435 4,670 4,981 5,188 5,609 642 1,162 404 269 1,221 1,303 1,281 17 External debt flows Disbursements 638 1,028 1,125 2,732 3,135 2,623 2,987 1,671 Long-term external debt 606 1,028 976 2,732 3,135 2,623 2,987 1,671 IMF purchases 32 0 150 0 0 0 0 0 Principal repayments 610 750 1,065 2,514 3,185 2,880 2,312 1,641 Long-term external debt 495 721 1,065 2,402 2,990 2,821 2,289 1,641 IMF repurchases 115 29 0 112 195 58 23 0 Net flows 0 -173 -194 309 -195 15 580 -231 Long-term external debt 110 307 -89 329 145 -198 698 30 Short-term external debt -28 -451 -254 92 -145 271 -95 -261 Interest payments 474 656 813 1,174 948 1,261 1,314 996 Long-term external debt 416 565 708 977 833 1,166 1,216 912 IMF charges 30 10 4 9 7 3 1 0 Short-term external debt 28 81 102 187 107 93 97 84 2. Other non-debt resource flows Foreign direct investment (net) 126 452 720 837 493 271 194 993 Portfolio equity flows 0 13 0 1 2 0 0 1 Profit remittances on FDI 125 144 329 964 1,004 977 1,160 787 Grants (excluding technical coop.) 53 71 68 105 179 112 172 180 of which: Debt forgiveness grants .. .. 0 13 0 3 0 12 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 65 110 85 149 157 148 99 129 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.8 3.3 3.3 3.2 2.9 Japanese yen 6.9 4.1 4.5 4.1 2.5 2.5 2.2 1.5 Pound sterling 1.6 0.7 0.4 0.4 0.3 0.3 0.2 0.2 Swiss franc 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 54.5 71.2 83.8 85.8 89.0 89.3 90.2 91.5 4. Average terms of new commitments Official creditors Interest (%) 5.2 6.2 6.9 5.1 6.5 6.7 5.4 3.3 Maturity (years) 22.2 16.4 17.1 12.9 5.7 16.7 20.4 18.7 Grace period (years) 6.0 6.0 5.2 3.6 1.3 4.5 4.2 2.2 Private creditors Interest (%) 8.6 7.9 7.5 4.7 9.3 6.0 0.0 6.3 Maturity (years) 8.7 12.0 9.9 10.1 10.0 10.7 0.0 12.6 Grace period (years) 1.0 2.5 2.5 0.6 9.8 1.9 0.0 3.1 5. Major economic aggregates Gross national income (GNI) 9,145 19,281 14,530 30,740 35,245 39,813 43,742 50,965 Exports of goods, services & income 3,337 5,677 7,293 10,851 14,020 17,317 19,384 .. Worker remit. & comp. of employees 51 386 1,322 1,838 2,460 2,934 3,094 3,200 Imports of goods & services 3,754 6,736 6,403 11,591 13,880 15,878 17,945 .. International reserves 1,009 1,788 1,179 1,440 2,148 2,026 3,521 4,473 Current account balance -360 -1,000 926 -542 347 1,615 1,598 .. 6. Ratios External debt stocks to exports (%) 362.8 244.5 181.6 156.1 120.4 97.5 89.6 .. External debt stocks to GNI (%) 132.4 72.0 91.1 55.1 47.9 42.4 39.7 33.1 Debt service to exports (%) 32.5 24.8 25.8 34.0 29.5 23.9 18.7 .. Short-term to external debt stocks (%) 15.0 9.5 6.0 11.0 10.2 11.8 10.9 9.9 Multilateral to external debt stocks (%) 17.6 21.9 27.7 22.2 21.2 23.4 26.3 24.4 Reserves to external debt stocks (%) 8.3 12.9 8.9 8.5 12.7 12.0 20.3 26.5 Reserves to imports (months) 3.2 3.2 2.2 1.5 1.9 1.5 2.4 .. 114 ECUADOR 7. Long-term external debt Debt outstanding and disbursed 10,029 12,391 12,299 14,790 15,081 14,877 15,474 15,187 Public and publicly guaranteed 9,865 11,951 10,864 10,355 10,411 9,896 10,290 9,595 Official creditors 4,065 5,210 5,871 5,977 5,508 5,727 6,163 5,507 Multilateral 2,127 3,044 3,670 3,764 3,585 3,951 4,560 4,119 of which: IBRD 816 1,082 840 835 799 746 684 612 IDA 32 26 21 16 15 14 13 12 Bilateral 1,938 2,165 2,201 2,214 1,923 1,777 1,603 1,387 Private creditors 5,800 6,742 4,993 4,378 4,902 4,168 4,128 4,088 of which: Bonds 0 5,999 3,950 3,950 4,600 3,860 3,860 3,860 Commercial banks 4,899 385 910 347 241 212 194 163 Private nonguaranteed 164 440 1,435 4,435 4,670 4,981 5,184 5,592 of which: Bonds 0 10 0 0 0 0 0 0 Disbursements 606 1,028 976 2,732 3,135 2,623 2,987 1,671 Public and publicly guaranteed 575 818 595 340 972 913 1,296 298 Official creditors 329 733 524 278 299 830 1,272 288 Multilateral 227 593 446 276 298 826 1,263 284 of which: IBRD 47 319 69 29 39 21 8 5 IDA 0 0 0 0 0 0 0 0 Bilateral 101 141 78 2 1 4 9 5 Private creditors 246 85 71 62 674 83 24 10 of which: Bonds 0 0 0 0 650 0 0 0 Commercial banks 39 57 71 52 24 22 24 10 Private nonguaranteed 30 210 381 2,392 2,162 1,710 1,691 1,373 of which: Bonds 0 10 0 0 0 0 0 0 Principal repayments 495 721 1,065 2,402 2,990 2,821 2,289 1,641 Public and publicly guaranteed 470 711 548 1,111 865 1,529 977 899 Official creditors 276 486 397 603 745 717 912 850 Multilateral 164 235 324 424 408 480 685 724 of which: IBRD 41 98 89 82 74 74 70 77 IDA 1 1 1 1 1 1 1 1 Bilateral 112 252 73 179 336 236 227 126 Private creditors 194 225 151 508 120 813 65 49 of which: Bonds 0 10 0 0 0 740 0 0 Commercial banks 27 59 119 492 101 51 42 41 Private nonguaranteed 25 10 517 1,292 2,124 1,292 1,312 742 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 416 565 708 977 833 1,166 1,216 912 Public and publicly guaranteed 404 563 535 631 648 740 724 642 Official creditors 212 321 295 246 266 308 315 298 Multilateral 140 173 264 167 170 218 233 237 of which: IBRD 62 69 74 31 32 40 42 33 IDA 0 0 0 0 0 0 0 0 Bilateral 72 148 31 79 96 90 83 61 Private creditors 191 242 240 385 383 432 409 345 of which: Bonds 0 147 140 339 367 410 392 331 Commercial banks 134 50 89 42 12 16 10 9 Private nonguaranteed 12 1 172 346 185 426 492 270 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 791 -1,084 -2,750 400 -67 12 479 -518 Net flows on external debt 0 -173 -194 309 -195 15 580 -231 Cross-currency valuation 193 60 -149 95 -172 65 93 41 9. Debt restructurings Total amount rescheduled 249 5,818 4,663 0 0 0 0 0 Total amount forgiven 46 1,180 2,522 0 1 1 4 3 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 512 468 488 502 517 480 419 393 Interest 227 207 187 167 146 125 105 88 Private creditors Principal 1,542 1,096 979 1,096 474 355 941 232 Interest 527 472 423 393 308 290 275 202 Notes: Short-term debt is based on reports provided by Central Bank. 115 EGYPT, ARAB REPUBLIC OF 1. Summary external debt data External debt stocks 32,992 33,475 29,015 31,141 29,655 29,351 32,830 32,616 Long-term external debt 28,414 31,000 24,911 29,172 27,799 27,718 31,380 30,097 Public and publicly guaranteed 27,414 30,687 24,338 27,205 26,696 26,880 29,892 28,518 Private nonguaranteed 1,000 313 573 1,968 1,103 838 1,489 1,579 Use of IMF credit 125 103 0 0 0 0 0 0 Short-term external debt 4,453 2,372 4,104 1,968 1,856 1,633 1,450 2,519 interest arrears on long-term 1,441 4 0 1 2 0 0 0 Memorandum items 3,542 148 14 6 8 0 0 0 27,393 30,684 24,337 27,204 26,661 26,690 29,463 28,132 1,021 316 574 1,969 1,139 1,028 1,917 1,965 1,223 207 917 2,348 3,053 2,472 1,884 2,166 External debt flows Disbursements 1,951 642 575 628 2,727 711 3,077 1,102 Long-term external debt 1,951 642 575 628 2,727 711 3,077 1,102 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 1,750 988 1,100 1,348 1,637 1,714 1,860 2,197 Long-term external debt 1,704 894 1,100 1,348 1,637 1,714 1,860 2,197 IMF repurchases 47 94 0 0 0 0 0 0 Net flows -1,301 92 -714 -617 978 -1,224 1,034 -25 Long-term external debt 248 -251 -525 -720 1,090 -1,003 1,218 -1,095 Short-term external debt -1,502 438 -189 103 -113 -222 -184 1,070 Interest payments 1,322 1,393 733 655 647 773 881 934 Long-term external debt 1,007 1,252 619 625 579 677 799 875 IMF charges 14 9 0 0 0 0 0 0 Short-term external debt 301 132 113 30 68 96 81 60 2. Other non-debt resource flows Foreign direct investment (net) 734 598 1,235 1,253 5,376 10,043 11,578 9,495 Portfolio equity flows 0 0 269 26 729 502 -3,199 -674 Profit remittances on FDI 14 228 92 56 647 915 1,015 680 Grants (excluding technical coop.) 4,201 1,006 964 1,441 825 641 1,246 1,303 of which: Debt forgiveness grants .. .. 241 150 150 153 173 179 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 812 744 472 197 386 420 120 157 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 37.8 32.6 35.1 35.1 33.7 Japanese yen 8.2 13.1 13.8 12.6 11.1 10.7 9.2 11.7 Pound sterling 2.5 1.4 1.2 2.3 2.0 2.2 1.9 1.4 Swiss franc 3.0 2.7 2.1 2.3 1.9 2.0 1.8 1.9 U.S.dollars 41.9 34.5 39.8 32.8 40.3 38.1 38.9 38.3 4. Average terms of new commitments Official creditors Interest (%) 4.7 3.1 4.7 2.5 5.2 4.4 2.2 3.1 Maturity (years) 28.6 22.0 21.8 17.7 18.8 21.4 16.5 20.9 Grace period (years) 7.5 6.6 5.5 5.0 7.6 7.4 6.5 5.6 Private creditors Interest (%) 8.4 6.5 6.8 3.7 4.4 2.2 7.2 0.0 Maturity (years) 11.5 4.3 3.0 7.9 7.6 5.3 6.1 2.0 Grace period (years) 3.4 2.4 2.9 2.5 7.1 3.3 4.9 2.0 5. Major economic aggregates Gross national income (GNI) 42,025 60,038 100,838 78,757 89,474 108,015 131,653 164,215 Exports of goods, services & income 15,035 18,064 21,587 30,429 37,159 44,570 55,363 66,520 Worker remit. & comp. of employees 4,284 3,226 2,852 3,341 5,017 5,330 7,656 8,694 Imports of goods & services 15,969 19,123 23,878 27,733 35,787 42,375 55,618 68,999 International reserves 3,620 17,122 13,785 15,339 21,857 26,007 32,214 34,331 Current account balance 2,327 -254 -971 3,922 2,103 2,635 412 -1,415 6. Ratios External debt stocks to exports (%) 219.4 185.3 134.4 102.3 79.8 65.9 59.3 49.0 External debt stocks to GNI (%) 78.5 55.8 28.8 39.5 33.1 27.2 24.9 19.9 Debt service to exports (%) 20.4 13.2 8.5 6.6 6.1 5.6 4.9 4.7 Short-term to external debt stocks (%) 13.5 7.1 14.1 6.3 6.3 5.6 4.4 7.7 Multilateral to external debt stocks (%) 10.3 12.0 13.5 13.2 15.3 16.8 21.4 21.5 Reserves to external debt stocks (%) 11.0 51.1 47.5 49.3 73.7 88.6 98.1 105.3 Reserves to imports (months) 2.7 10.7 6.9 6.6 7.3 7.4 7.0 6.0 116 EGYPT, ARAB REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 28,414 31,000 24,911 29,172 27,799 27,718 31,380 30,097 Public and publicly guaranteed 27,414 30,687 24,338 27,205 26,696 26,880 29,892 28,518 Official creditors 21,165 28,934 23,799 26,324 24,077 24,684 27,029 25,997 Multilateral 3,403 4,022 3,921 4,111 4,527 4,944 7,027 6,999 of which: IBRD 1,480 1,320 639 503 492 544 1,181 1,255 IDA 921 1,035 1,266 1,465 1,420 1,481 1,490 1,444 Bilateral 17,763 24,912 19,878 22,213 19,550 19,740 20,002 18,998 Private creditors 6,249 1,753 540 881 2,619 2,196 2,863 2,522 of which: Bonds 0 0 0 584 1,829 1,576 2,199 2,184 Commercial banks 731 560 317 170 688 520 584 267 Private nonguaranteed 1,000 313 573 1,968 1,103 838 1,489 1,579 of which: Bonds 0 0 100 0 0 0 750 750 Disbursements 1,951 642 575 628 2,727 711 3,077 1,102 Public and publicly guaranteed 1,900 642 368 628 2,727 710 3,065 906 Official creditors 1,198 602 223 487 773 657 2,327 794 Multilateral 269 392 174 413 678 556 2,204 562 of which: IBRD 92 42 6 26 97 108 723 143 IDA 8 83 49 75 69 57 13 11 Bilateral 929 209 50 74 95 100 123 233 Private creditors 703 40 144 141 1,954 54 737 112 of which: Bonds 0 0 0 0 1,250 0 643 0 Commercial banks 175 31 132 139 703 52 83 108 Private nonguaranteed 51 0 207 0 0 1 13 196 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 1,704 894 1,100 1,348 1,637 1,714 1,860 2,197 Public and publicly guaranteed 1,572 832 984 1,248 1,485 1,505 1,747 2,092 Official creditors 884 542 863 1,200 1,293 1,262 1,681 1,655 Multilateral 282 310 298 329 385 300 530 462 of which: IBRD 176 198 87 77 77 66 97 77 IDA 7 14 23 38 41 42 47 50 Bilateral 603 232 564 871 908 962 1,151 1,193 Private creditors 687 290 121 48 192 243 66 437 of which: Bonds 1 0 0 0 0 0 0 0 Commercial banks 34 91 57 39 183 236 28 417 Private nonguaranteed 132 62 116 100 151 209 112 105 of which: Bonds 0 0 0 100 0 0 0 0 Interest payments 1,007 1,252 619 625 579 677 799 875 Public and publicly guaranteed 918 1,228 603 609 572 671 735 758 Official creditors 719 1,121 573 542 509 530 618 648 Multilateral 184 232 147 100 105 132 184 214 of which: IBRD 138 114 41 22 21 27 47 58 IDA 7 7 9 12 11 11 11 11 Bilateral 535 889 425 442 404 399 434 434 Private creditors 199 106 31 67 63 140 117 110 of which: Bonds 0 0 0 61 51 106 84 85 Commercial banks 48 44 16 3 9 32 31 22 Private nonguaranteed 89 24 16 16 7 7 64 117 of which: Bonds 0 0 12 12 0 0 59 59 8. Debt stock-flow reconciliation Total change in external debt stocks -12,667 976 -1,869 1,925 -1,485 -304 3,479 -214 Net flows on external debt -1,301 92 -714 -617 978 -1,224 1,034 -25 Cross-currency valuation 1,460 795 -899 1,083 -2,109 1,192 1,521 -118 9. Debt restructurings Total amount rescheduled 0 309 22 1 1 0 1 0 Total amount forgiven 13,057 54 25 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 2,374 2,585 2,704 3,322 3,003 2,681 2,503 2,349 Interest 667 636 580 528 469 405 343 289 Private creditors Principal 305 551 975 764 56 256 1,295 44 Interest 336 313 243 191 130 96 63 5 Notes: Short-term debt is based on the Central Bank data from 2001. Data on long-term private nonguaranteed debt for 2008 are based on reports provided by the country. 117 EL SALVADOR 1. Summary external debt data External debt stocks 2,145 2,509 4,467 8,517 8,984 9,842 9,513 10,110 Long-term external debt 1,935 1,984 2,822 6,737 7,409 8,878 8,512 9,058 Public and publicly guaranteed 1,909 1,979 2,710 4,975 4,786 5,589 5,432 5,742 Private nonguaranteed 26 5 111 1,762 2,622 3,289 3,079 3,316 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 210 525 1,645 1,780 1,575 964 1,001 1,052 interest arrears on long-term 7 3 0 0 0 0 0 0 Memorandum items 6 6 0 0 0 0 0 0 1,901 1,972 2,705 4,971 4,782 5,585 5,429 5,739 34 11 117 1,767 2,626 3,293 3,083 3,319 131 832 347 228 693 1,146 257 705 External debt flows Disbursements 108 206 371 691 1,222 1,643 252 1,044 Long-term external debt 108 206 371 691 1,222 1,643 252 1,044 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 124 160 157 467 405 671 550 488 Long-term external debt 118 160 157 467 405 671 550 488 IMF repurchases 5 0 0 0 0 0 0 0 Net flows 2 383 807 245 613 361 -261 607 Long-term external debt -11 46 214 224 817 972 -298 556 Short-term external debt 18 337 592 21 -205 -611 37 51 Interest payments 84 120 212 532 445 519 505 515 Long-term external debt 75 98 139 347 344 464 466 484 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 9 22 73 184 101 55 39 31 2. Other non-debt resource flows Foreign direct investment (net) 2 38 173 363 511 241 1,508 784 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 31 0 60 80 181 91 172 73 Grants (excluding technical coop.) 160 102 72 119 143 116 162 165 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 127 130 85 136 86 74 54 80 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.0 3.5 3.3 3.7 3.3 Japanese yen 1.3 1.8 6.7 5.0 4.9 4.3 4.8 5.9 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 56.5 46.7 68.3 80.6 81.5 84.1 83.3 83.6 4. Average terms of new commitments Official creditors Interest (%) 3.2 6.5 7.2 2.7 5.1 6.0 5.7 6.0 Maturity (years) 35.6 22.3 18.6 13.3 18.3 17.7 21.5 10.3 Grace period (years) 8.8 5.2 4.0 4.8 2.2 4.0 3.3 3.8 Private creditors Interest (%) 10.4 6.1 9.6 7.6 7.7 7.6 0.0 4.1 Maturity (years) 5.0 26.3 9.2 29.6 30.4 27.9 0.0 2.0 Grace period (years) 0.5 5.8 2.3 29.6 30.4 27.9 0.0 2.0 5. Major economic aggregates Gross national income (GNI) 4,699 9,404 12,881 15,340 16,499 18,135 19,793 21,714 Exports of goods, services & income 1,360 3,154 5,554 7,120 7,766 8,890 9,515 10,131 Worker remit. & comp. of employees 366 1,064 1,765 2,564 3,030 3,485 3,711 3,804 Imports of goods & services 1,785 3,744 6,031 7,755 8,353 9,562 10,753 11,771 International reserves 595 940 1,901 1,938 1,890 1,963 2,304 2,646 Current account balance -152 -262 -431 -628 -569 -671 -1,183 -1,596 6. Ratios External debt stocks to exports (%) 157.7 79.5 80.4 119.6 115.7 110.7 100.0 99.8 External debt stocks to GNI (%) 45.6 26.7 34.7 55.5 54.5 54.3 48.1 46.6 Debt service to exports (%) 15.3 8.9 6.6 14.0 10.9 13.4 11.1 9.9 Short-term to external debt stocks (%) 9.8 20.9 36.8 20.9 17.5 9.8 10.5 10.4 Multilateral to external debt stocks (%) 36.6 54.7 42.5 27.4 27.1 25.5 26.4 27.4 Reserves to external debt stocks (%) 27.8 37.5 42.6 22.7 21.0 19.9 24.2 26.2 Reserves to imports (months) 4.0 3.0 3.8 3.0 2.7 2.5 2.6 2.7 118 EL SALVADOR 7. Long-term external debt Debt outstanding and disbursed 1,935 1,984 2,822 6,737 7,409 8,878 8,512 9,058 Public and publicly guaranteed 1,909 1,979 2,710 4,975 4,786 5,589 5,432 5,742 Official creditors 1,725 1,870 2,505 3,041 3,067 3,141 3,158 3,475 Multilateral 784 1,374 1,900 2,336 2,431 2,507 2,508 2,773 of which: IBRD 140 307 309 348 436 417 401 400 IDA 23 20 16 13 12 11 10 9 Bilateral 941 496 605 705 636 633 649 702 Private creditors 184 109 205 1,934 1,719 2,448 2,275 2,267 of which: Bonds 0 0 82 1,834 1,636 2,344 2,242 2,174 Commercial banks 127 74 102 73 58 78 5 68 Private nonguaranteed 26 5 111 1,762 2,622 3,289 3,079 3,316 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 108 206 371 691 1,222 1,643 252 1,044 Public and publicly guaranteed 108 206 321 319 682 998 252 668 Official creditors 77 201 200 113 337 373 251 603 Multilateral 44 165 159 107 308 347 227 565 of which: IBRD 2 26 34 16 129 25 35 52 IDA 0 0 0 0 0 0 0 0 Bilateral 33 35 41 6 28 25 24 38 Private creditors 30 5 120 205 345 625 0 65 of which: Bonds 0 0 32 204 343 625 0 0 Commercial banks 25 5 87 1 0 0 0 65 Private nonguaranteed 0 0 51 373 540 645 0 376 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 118 160 157 467 405 671 550 488 Public and publicly guaranteed 105 157 124 274 244 457 340 349 Official creditors 94 123 120 258 228 330 280 346 Multilateral 57 78 87 220 184 287 241 305 of which: IBRD 15 21 17 41 40 44 51 53 IDA 1 1 1 1 1 1 1 1 Bilateral 37 45 33 38 44 43 39 41 Private creditors 11 33 4 15 16 127 60 4 of which: Bonds 0 0 0 0 0 121 30 0 Commercial banks 9 25 4 14 14 5 28 2 Private nonguaranteed 14 3 33 194 160 214 210 139 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 75 98 139 347 344 464 466 484 Public and publicly guaranteed 72 98 132 268 257 334 348 368 Official creditors 62 89 123 116 118 126 137 136 Multilateral 50 62 103 97 101 111 123 121 of which: IBRD 14 22 24 12 14 22 24 19 IDA 0 0 0 0 0 0 0 0 Bilateral 13 27 19 19 17 16 14 15 Private creditors 9 9 9 152 139 207 211 232 of which: Bonds 0 0 8 145 133 206 209 232 Commercial banks 8 7 1 7 6 1 2 0 Private nonguaranteed 3 0 7 79 87 131 117 116 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 65 412 778 332 467 859 -330 597 Net flows on external debt 2 383 807 245 613 361 -261 607 Cross-currency valuation 7 50 -43 30 -70 42 45 63 9. Debt restructurings Total amount rescheduled 84 0 0 0 0 0 0 0 Total amount forgiven 0 0 17 0 0 0 0 3 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 332 347 321 491 442 227 216 203 Interest 168 162 151 132 107 92 82 71 Private creditors Principal 886 687 758 335 270 204 172 139 Interest 321 283 248 211 195 183 173 164 Notes: Data on long-term private nonguaranteed debt are revised from 2005 and World Bank staff estimates based on Balance of Payments reported by the country. 119 ERITREA 1. Summary external debt data External debt stocks .. 36.7 299.9 705.7 724.5 784.9 859.8 962.0 Long-term external debt .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 Public and publicly guaranteed .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt .. 0.0 2.0 1.7 1.6 3.6 4.1 4.6 interest arrears on long-term .. 0.0 2.0 1.7 1.6 3.6 4.1 4.6 Memorandum items .. 0.0 4.9 28.0 13.9 21.4 18.4 9.9 .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. 110.5 173.6 72.8 0.0 34.6 46.3 80.0 External debt flows Disbursements .. 7.2 50.7 92.4 70.6 37.9 42.1 104.4 Long-term external debt .. 7.2 50.7 92.4 70.6 37.9 42.1 104.4 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 Long-term external debt .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows .. 7.2 50.2 82.0 58.9 31.7 40.4 98.7 Long-term external debt .. 7.2 50.2 82.0 58.9 31.7 40.4 98.7 Short-term external debt .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments .. 0.2 2.5 8.6 8.4 6.1 4.1 8.9 Long-term external debt .. 0.2 2.5 8.6 8.4 6.1 4.1 8.9 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) .. 0.0 27.9 -7.9 -1.0 0.5 -2.8 36.0 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI .. 0.0 4.4 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. 103.2 104.3 193.0 238.1 88.5 116.2 108.7 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 6.9 8.2 4.4 12.3 10.1 Memo: technical coop. grants .. 42.7 22.1 30.8 24.2 16.2 10.5 9.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.4 5.3 5.4 5.5 4.7 Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 66.3 57.0 66.7 68.5 68.1 67.9 66.6 4. Average terms of new commitments Official creditors Interest (%) .. 2.0 0.7 0.8 0.0 2.1 2.0 5.5 Maturity (years) .. 23.9 39.7 36.3 0.0 21.0 -2.4 5.5 Grace period (years) .. 5.6 10.4 8.8 0.0 5.8 3.1 3.0 Private creditors Interest (%) .. 0.0 0.0 0.5 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 36.1 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 24.6 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 585.6 634.1 615.9 1152.0 1273.0 1364.8 1641.4 Exports of goods, services & income .. 142.4 106.9 .. .. .. .. .. Worker remit. & comp. of employees .. .. 3.0 .. .. .. .. .. Imports of goods & services .. 498.2 510.3 .. .. .. .. .. International reserves .. 40.5 36.1 34.7 27.9 25.4 34.3 .. Current account balance .. -31.5 -104.7 .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. 25.8 280.7 .. .. .. .. .. External debt stocks to GNI (%) .. 6.3 47.3 114.6 62.9 61.7 63.0 58.6 Debt service to exports (%) .. 0.1 2.8 .. .. .. .. .. Short-term to external debt stocks (%) .. .. 0.7 0.2 0.2 0.5 0.5 0.5 Multilateral to external debt stocks (%) .. 66.3 50.6 68.3 70.4 71.5 71.3 66.9 Reserves to external debt stocks (%) .. 110.4 12.0 4.9 3.9 3.2 4.0 .. Reserves to imports (months) .. 1.0 0.8 .. .. .. .. .. 120 ERITREA 7. Long-term external debt Debt outstanding and disbursed .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 Public and publicly guaranteed .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 Official creditors .. 36.7 298.0 666.1 690.1 744.7 814.7 917.8 Multilateral .. 24.3 151.9 481.7 510.1 561.6 613.2 643.1 of which: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 24.3 84.5 352.0 381.1 419.4 456.9 472.6 Bilateral .. 12.4 146.1 184.4 180.0 183.1 201.5 274.7 Private creditors .. 0.0 0.0 37.9 32.9 36.7 41.0 39.5 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements .. 7.2 50.7 92.4 70.6 37.9 42.1 104.4 Public and publicly guaranteed .. 7.2 50.7 92.4 70.6 37.9 42.1 104.4 Official creditors .. 7.2 50.7 57.7 70.6 37.4 42.1 103.6 Multilateral .. 5.4 39.2 56.6 70.0 33.1 28.4 31.1 of which: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 5.4 31.6 35.6 57.3 20.2 20.5 22.5 Bilateral .. 1.8 11.5 1.1 0.6 4.3 13.6 72.4 Private creditors .. 0.0 0.0 34.6 0.0 0.5 0.0 0.8 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 Public and publicly guaranteed .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 Official creditors .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 Multilateral .. 0.0 0.5 4.1 6.5 4.2 1.4 5.1 of which: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.0 0.5 0.5 0.7 1.0 3.1 Bilateral .. 0.0 0.0 6.2 5.2 2.0 0.2 0.6 Private creditors .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments .. 0.2 2.5 8.6 8.4 6.1 4.1 8.9 Public and publicly guaranteed .. 0.2 2.5 8.6 8.4 6.1 4.1 8.9 Official creditors .. 0.2 2.5 8.6 8.4 6.0 4.1 8.9 Multilateral .. 0.2 1.3 5.4 5.9 5.1 3.9 4.6 of which: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.2 0.4 3.3 3.0 3.6 3.4 3.1 Bilateral .. 0.0 1.2 3.2 2.5 0.9 0.1 4.3 Private creditors .. 0.0 0.0 0.0 0.0 0.1 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 7.6 47.4 98.1 18.8 60.4 74.8 102.2 Net flows on external debt .. 7.2 50.2 82.0 58.9 31.7 40.4 98.7 Cross-currency valuation .. 0.4 -4.2 15.1 -34.6 23.7 28.1 2.0 9. Debt restructurings Total amount rescheduled .. 0.0 0.0 0.0 0.0 0.0 16.7 20.6 Total amount forgiven .. 0.0 0.0 0.0 0.0 0.0 5.7 0.0 Debt buyback .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 28.0 31.2 61.1 61.7 61.5 34.8 30.0 27.3 Interest 11.2 11.6 11.2 9.6 8.0 6.6 6.1 5.7 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 121 ETHIOPIA 1. Summary external debt data External debt stocks 8,645 10,322 5,495 6,663 6,204 2,273 2,620 2,882 Long-term external debt 8,493 9,788 5,339 6,351 5,924 2,197 2,568 2,826 Public and publicly guaranteed 8,493 9,788 5,339 6,351 5,924 2,197 2,568 2,826 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 6 73 77 183 160 0 0 0 Short-term external debt 145 460 79 129 120 76 52 56 interest arrears on long-term 43 437 65 36 36 36 32 32 Memorandum items 236 3,628 652 528 508 374 373 373 8,492 9,788 5,339 6,351 5,924 2,197 2,568 2,826 1 0 0 0 0 0 0 0 580 170 500 295 748 415 916 468 External debt flows Disbursements 374 232 185 403 527 370 380 379 Long-term external debt 374 232 185 372 527 370 380 379 IMF purchases 0 0 0 31 0 0 0 0 Principal repayments 177 92 85 52 40 111 88 71 Long-term external debt 152 92 72 43 36 111 88 71 IMF repurchases 25 0 13 9 4 0 0 0 Net flows 203 133 90 402 479 215 273 312 Long-term external debt 222 140 114 329 492 259 293 308 Short-term external debt 7 -8 -11 51 -9 -44 -20 4 Interest payments 59 63 53 49 54 56 45 40 Long-term external debt 49 61 52 47 49 54 44 39 IMF charges 2 0 0 1 1 0 0 0 Short-term external debt 8 1 1 2 3 3 1 1 2. Other non-debt resource flows Foreign direct investment (net) 12 14 135 0 265 545 222 109 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 9 28 21 24 18 17 Grants (excluding technical coop.) 604 476 425 1,459 1,464 5,177 2,036 2,871 of which: Debt forgiveness grants .. .. 1 155 154 3,952 7 11 IDA grants .. .. .. 282 72 168 192 390 Memo: technical coop. grants 250 164 120 173 196 259 124 152 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.0 5.6 14.9 17.5 16.9 Japanese yen 0.5 0.4 0.3 0.2 0.2 0.1 0.1 0.1 Pound sterling 0.3 0.2 0.3 0.4 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 24.2 29.0 75.8 74.4 72.4 63.6 58.1 55.0 4. Average terms of new commitments Official creditors Interest (%) 1.9 1.0 0.8 0.9 0.9 1.1 0.9 0.8 Maturity (years) 32.7 36.3 38.4 37.9 32.3 34.9 39.5 38.3 Grace period (years) 7.9 9.3 10.0 9.5 6.3 8.9 9.6 9.7 Private creditors Interest (%) 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 14.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 12,016 7,545 8,119 9,989 12,269 15,127 19,409 26,521 Exports of goods, services & income 606 836 1,062 1,849 2,146 2,424 3,085 3,938 Worker remit. & comp. of employees 5 27 53 134 174 172 358 387 Imports of goods & services 1,349 1,533 1,673 3,787 4,943 5,314 6,945 9,653 International reserves 55 815 363 1,497 1,121 833 1,290 871 Current account balance -294 39 13 -668 -1,568 -1,786 -828 -1,806 6. Ratios External debt stocks to exports (%) 1,427.1 1,234.8 517.6 360.3 289.1 93.8 84.9 73.2 External debt stocks to GNI (%) 71.9 136.8 67.7 66.7 50.6 15.0 13.5 10.9 Debt service to exports (%) 39.0 18.5 13.0 5.5 4.3 6.9 4.3 2.8 Short-term to external debt stocks (%) 1.7 4.5 1.4 1.9 1.9 3.3 2.0 1.9 Multilateral to external debt stocks (%) 14.8 22.8 50.1 72.6 75.8 47.6 52.5 55.6 Reserves to external debt stocks (%) 0.6 7.9 6.6 22.5 18.1 36.6 49.2 30.2 Reserves to imports (months) 0.5 6.4 2.6 4.7 2.7 1.9 2.2 1.1 122 ETHIOPIA 7. Long-term external debt Debt outstanding and disbursed 8,493 9,788 5,339 6,351 5,924 2,197 2,568 2,826 Public and publicly guaranteed 8,493 9,788 5,339 6,351 5,924 2,197 2,568 2,826 Official creditors 7,920 9,198 5,226 6,098 5,560 1,881 2,296 2,587 Multilateral 1,283 2,354 2,752 4,835 4,703 1,082 1,376 1,603 of which: IBRD 27 0 0 0 0 0 0 0 IDA 824 1,470 1,779 3,488 3,359 553 711 859 Bilateral 6,637 6,844 2,473 1,263 857 799 920 985 Private creditors 573 590 113 253 364 316 272 239 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 116 253 12 1 1 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 374 232 185 372 527 370 380 379 Public and publicly guaranteed 374 232 185 372 527 370 380 379 Official creditors 324 232 184 294 400 370 380 379 Multilateral 139 209 181 293 323 290 272 285 of which: IBRD 0 0 0 0 0 0 0 0 IDA 74 84 137 202 162 179 132 160 Bilateral 185 23 3 2 76 80 108 95 Private creditors 51 0 2 78 127 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 152 92 72 43 36 111 88 71 Public and publicly guaranteed 152 92 72 43 36 111 88 71 Official creditors 45 44 62 35 24 67 43 38 Multilateral 16 40 56 29 15 56 34 30 of which: IBRD 7 4 0 0 0 0 0 0 IDA 4 12 21 13 0 23 0 3 Bilateral 29 3 6 7 10 10 9 8 Private creditors 107 48 10 7 11 45 44 33 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 45 39 4 0 0 1 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 49 61 52 47 49 54 44 39 Public and publicly guaranteed 49 61 52 47 49 54 44 39 Official creditors 24 32 48 45 40 37 29 27 Multilateral 13 24 34 39 29 32 17 19 of which: IBRD 2 0 0 0 0 0 0 0 IDA 6 11 13 23 15 16 6 7 Bilateral 11 9 14 6 11 5 12 8 Private creditors 24 29 4 1 10 17 15 11 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 11 27 1 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 790 244 -62 -628 -458 -3,931 347 262 Net flows on external debt 203 133 90 402 479 215 273 312 Cross-currency valuation 586 22 -105 11 -500 -4,128 -80 -5 9. Debt restructurings Total amount rescheduled 0 30 0 17 164 0 0 0 Total amount forgiven 66 8 0 1,372 447 4,192 13 31 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 88 88 103 107 120 128 137 144 Interest 37 39 40 40 40 39 37 36 Private creditors Principal 122 110 0 0 0 0 0 0 Interest 4 1 0 0 0 0 0 0 Notes: Ethiopia was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 123 FIJI 1. Summary external debt data External debt stocks 308.4 178.2 172.6 245.9 185.7 204.2 347.3 379.5 Long-term external debt 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 Public and publicly guaranteed 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 12.0 15.0 0.2 53.4 0.4 12.0 0.3 19.4 interest arrears on long-term 0.0 0.1 0.2 0.4 0.4 1.0 0.3 0.4 Memorandum items 0.0 0.0 0.0 0.0 0.0 2.0 1.5 2.2 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30.0 10.5 0.0 47.0 25.0 170.7 0.0 0.0 External debt flows Disbursements 15.1 15.2 7.1 11.8 14.1 12.8 162.6 13.2 Long-term external debt 15.1 15.2 7.1 11.8 14.1 12.8 162.6 13.2 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 55.5 31.2 16.9 6.3 8.5 7.6 10.4 7.7 Long-term external debt 54.6 31.2 16.9 6.3 8.5 7.6 10.4 7.7 IMF repurchases 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows -42.3 -17.1 -9.8 58.5 -47.5 16.2 141.2 24.5 Long-term external debt -39.5 -16.0 -9.8 5.5 5.5 5.2 152.2 5.5 Short-term external debt -2.0 -1.1 0.0 53.0 -53.0 11.0 -11.0 19.0 Interest payments 25.2 11.2 7.7 6.6 5.7 6.4 16.2 16.1 Long-term external debt 23.7 10.3 7.7 5.6 5.7 5.8 16.2 15.8 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 1.5 0.9 0.0 1.0 0.0 0.6 0.0 0.3 2. Other non-debt resource flows Foreign direct investment (net) 91.9 69.5 -1.7 255.5 160.4 415.3 337.0 320.4 Portfolio equity flows 0.0 0.0 0.0 1.0 0.9 -1.7 5.7 -6.6 Profit remittances on FDI 49.4 83.7 9.8 140.8 114.7 162.4 116.9 56.8 Grants (excluding technical coop.) 14.3 21.4 9.3 28.3 38.2 22.4 21.9 19.9 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 36.2 30.9 21.9 28.9 29.3 34.6 30.2 26.7 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.9 2.3 2.3 1.3 1.1 Japanese yen 0.0 0.0 0.8 11.2 9.7 8.8 4.8 5.4 Pound sterling 13.7 3.3 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 5.4 0.8 49.0 56.6 64.2 66.5 83.4 82.7 4. Average terms of new commitments Official creditors Interest (%) 6.6 4.5 0.0 2.6 4.3 2.0 0.0 0.0 Maturity (years) 24.8 12.0 0.0 24.0 24.7 20.4 0.0 0.0 Grace period (years) 5.1 4.5 0.0 4.5 5.2 0.4 0.0 0.0 Private creditors Interest (%) 8.8 0.0 0.0 0.0 0.0 6.9 0.0 0.0 Maturity (years) 10.4 0.0 0.0 0.0 0.0 5.3 0.0 0.0 Grace period (years) 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1289.6 1931.1 1717.4 2727.8 3006.1 3046.8 3275.7 3433.0 Exports of goods, services & income 881.6 1139.1 1048.8 1541.6 1722.2 1676.3 .. .. Worker remit. & comp. of employees 22.0 33.0 24.0 171.9 184.2 165.5 165.5 175.0 Imports of goods & services 974.3 1254.7 1142.8 1927.9 2113.2 2368.1 .. .. International reserves 261.1 349.3 412.0 478.5 318.8 .. .. .. Current account balance -94.0 -112.7 -67.2 -370.4 -396.4 -715.2 .. .. 6. Ratios External debt stocks to exports (%) 35.0 15.6 16.5 16.0 10.8 12.2 .. .. External debt stocks to GNI (%) 23.9 9.2 10.1 9.0 6.2 6.7 10.6 11.1 Debt service to exports (%) 9.1 3.7 2.3 0.8 0.8 0.8 .. .. Short-term to external debt stocks (%) 3.9 8.4 0.1 21.7 0.2 5.9 0.1 5.1 Multilateral to external debt stocks (%) 65.5 84.0 51.4 37.0 49.5 47.3 29.3 28.6 Reserves to external debt stocks (%) 84.7 196.0 238.7 194.5 171.7 .. .. .. Reserves to imports (months) 3.2 3.3 4.3 3.0 1.8 .. .. .. 124 FIJI 7. Long-term external debt Debt outstanding and disbursed 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 Public and publicly guaranteed 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 Official creditors 269.5 162.7 172.4 192.5 185.4 192.2 197.0 210.1 Multilateral 202.0 149.7 88.8 91.0 91.8 96.7 101.6 108.6 of which: IBRD 67.8 35.3 19.7 9.3 6.3 4.3 2.6 1.5 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 67.5 13.0 83.6 101.5 93.5 95.5 95.4 101.4 Private creditors 26.9 0.6 0.0 0.0 0.0 0.0 150.0 150.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 12.1 0.4 0.0 0.0 0.0 0.0 150.0 150.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 15.1 15.2 7.1 11.8 14.1 12.8 162.6 13.2 Public and publicly guaranteed 15.1 15.2 7.1 11.8 14.1 12.8 162.6 13.2 Official creditors 14.4 15.2 7.1 11.8 14.1 12.8 12.6 13.2 Multilateral 13.2 15.2 5.6 9.5 14.1 9.7 12.6 10.0 of which: IBRD 5.1 5.6 1.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 1.1 0.0 1.5 2.3 0.0 3.1 0.0 3.3 Private creditors 0.7 0.0 0.0 0.0 0.0 0.0 150.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.6 0.0 0.0 0.0 0.0 0.0 150.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 54.6 31.2 16.9 6.3 8.5 7.6 10.4 7.7 Public and publicly guaranteed 54.6 31.2 16.9 6.3 8.5 7.6 10.4 7.7 Official creditors 41.5 30.2 16.9 6.3 8.5 7.6 10.4 7.7 Multilateral 33.8 28.2 14.8 5.5 6.5 6.3 9.1 6.3 of which: IBRD 9.1 11.5 7.7 2.3 2.3 2.2 1.8 1.3 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 7.7 2.0 2.1 0.8 2.0 1.3 1.3 1.4 Private creditors 13.2 1.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 5.7 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 23.7 10.3 7.7 5.6 5.7 5.8 16.2 15.8 Public and publicly guaranteed 23.7 10.3 7.7 5.3 5.5 5.7 16.1 15.8 Official creditors 21.0 10.2 7.7 5.3 5.5 5.7 5.8 5.5 Multilateral 15.0 9.5 5.2 3.0 3.2 3.8 4.1 3.8 of which: IBRD 5.6 3.0 1.4 0.4 0.4 0.3 0.2 0.1 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 6.0 0.7 2.5 2.4 2.3 1.9 1.6 1.7 Private creditors 2.6 0.1 0.0 0.0 0.0 0.0 10.3 10.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 1.1 0.1 0.0 0.0 0.0 0.0 10.3 10.3 Private nonguaranteed 0.0 0.0 0.0 0.3 0.2 0.2 0.1 0.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks -3.8 -12.8 -19.0 62.1 -60.2 18.5 143.1 32.2 Net flows on external debt -42.3 -17.1 -9.8 58.5 -47.5 16.2 141.2 24.5 Cross-currency valuation 24.5 -6.0 -7.9 2.5 -8.2 0.4 2.5 8.3 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 2.2 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 38.5 37.2 36.7 12.6 10.8 10.9 11.0 11.1 Interest 6.9 5.8 4.9 4.1 3.7 3.4 3.0 2.7 Private creditors Principal 50.0 50.0 50.0 0.0 0.0 0.0 0.0 0.0 Interest 10.4 7.4 4.0 0.6 0.0 0.0 0.0 0.0 125 GABON 1. Summary external debt data External debt stocks 3,983 4,361 3,902 4,061 3,877 4,187 2,846 2,367 Long-term external debt 3,150 3,977 3,457 3,777 3,562 3,697 2,599 2,247 Public and publicly guaranteed 3,150 3,977 3,457 3,777 3,562 3,697 2,599 2,247 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 140 97 89 100 68 57 25 0 Short-term external debt 693 287 355 184 247 434 222 120 interest arrears on long-term 130 0 63 184 187 344 6 10 Memorandum items 82 26 118 218 341 773 38 32 3,148 3,977 3,457 3,777 3,562 3,697 2,599 2,247 2 0 0 0 0 0 0 0 65 89 20 107 142 40 1,946 641 External debt flows Disbursements 204 279 51 195 18 87 1,089 108 Long-term external debt 195 222 34 133 18 87 1,089 108 IMF purchases 9 57 17 62 0 0 0 0 Principal repayments 40 216 198 189 136 128 2,280 416 Long-term external debt 26 165 188 164 111 114 2,246 391 IMF repurchases 15 52 10 25 25 14 34 25 Net flows 164 14 -363 -50 -58 -11 -1,065 -414 Long-term external debt 170 57 -154 -31 -93 -27 -1,157 -283 Short-term external debt 0 -49 -216 -56 60 30 126 -106 Interest payments 136 240 154 48 57 42 386 167 Long-term external debt 78 217 124 46 52 36 377 162 IMF charges 13 5 4 2 3 3 3 1 Short-term external debt 45 17 26 0 2 3 7 4 2. Other non-debt resource flows Foreign direct investment (net) 73 -315 -43 320 242 268 269 20 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 116 236 473 722 765 0 0 0 Grants (excluding technical coop.) 30 87 39 33 57 21 29 26 of which: Debt forgiveness grants .. .. 17 7 3 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 36 46 26 44 45 56 60 41 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 56.8 47.5 48.9 35.1 29.9 Japanese yen 0.7 0.9 0.8 0.6 0.5 0.5 0.4 0.4 Pound sterling 5.3 5.0 4.6 5.3 4.4 4.9 4.6 2.4 Swiss franc 0.3 0.8 0.5 0.2 0.2 0.2 0.2 0.1 U.S.dollars 10.3 11.5 29.1 24.8 36.2 34.6 44.7 50.8 4. Average terms of new commitments Official creditors Interest (%) 7.7 4.7 0.0 2.0 1.4 4.2 4.9 2.5 Maturity (years) 19.0 13.0 8.7 19.6 16.2 14.4 19.4 18.1 Grace period (years) 5.4 5.9 0.7 5.1 4.3 2.9 5.3 6.1 Private creditors Interest (%) 9.0 0.0 0.0 0.0 2.6 0.0 7.3 4.9 Maturity (years) 11.8 0.0 0.0 0.0 5.8 0.0 8.1 7.8 Grace period (years) 1.3 0.0 0.0 0.0 2.7 0.0 7.1 2.3 5. Major economic aggregates Gross national income (GNI) 5,336 4,293 4,289 5,987 7,708 7,902 10,042 12,191 Exports of goods, services & income 2,750 2,984 3,549 4,243 5,648 .. .. .. Worker remit. & comp. of employees .. 4 6 7 11 11 11 11 Imports of goods & services 2,448 2,423 2,483 3,133 3,395 .. .. .. International reserves 279 153 194 449 675 1,122 1,238 1,935 Current account balance 168 515 1,001 924 1,983 .. .. .. 6. Ratios External debt stocks to exports (%) 144.8 146.2 109.9 95.7 68.7 .. .. .. External debt stocks to GNI (%) 74.6 101.6 91.0 67.8 50.3 53.0 28.3 19.4 Debt service to exports (%) 6.4 15.3 9.9 5.6 3.4 .. .. .. Short-term to external debt stocks (%) 17.4 6.6 9.1 4.5 6.4 10.4 7.8 5.1 Multilateral to external debt stocks (%) 8.0 13.5 12.0 11.4 10.1 9.7 14.3 16.1 Reserves to external debt stocks (%) 7.0 3.5 5.0 11.1 17.4 26.8 43.5 81.7 Reserves to imports (months) 1.4 0.8 0.9 1.7 2.4 .. .. .. 126 GABON 7. Long-term external debt Debt outstanding and disbursed 3,150 3,977 3,457 3,777 3,562 3,697 2,599 2,247 Public and publicly guaranteed 3,150 3,977 3,457 3,777 3,562 3,697 2,599 2,247 Official creditors 2,435 3,778 3,338 3,599 3,443 3,576 1,464 1,172 Multilateral 317 588 468 464 393 407 406 381 of which: IBRD 69 110 64 38 30 19 12 20 IDA 0 0 0 0 0 0 0 0 Bilateral 2,118 3,190 2,871 3,135 3,050 3,168 1,058 791 Private creditors 715 199 119 179 119 121 1,135 1,075 of which: Bonds 0 0 0 0 0 0 1,000 946 Commercial banks 181 148 103 69 39 29 60 92 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 195 222 34 133 18 87 1,089 108 Public and publicly guaranteed 195 222 34 133 18 87 1,089 108 Official creditors 158 222 13 133 18 61 41 62 Multilateral 84 150 11 108 15 57 37 17 of which: IBRD 10 4 9 3 0 0 0 12 IDA 0 0 0 0 0 0 0 0 Bilateral 74 72 2 26 3 4 4 45 Private creditors 37 0 21 0 0 26 1,048 45 of which: Bonds 0 0 0 0 0 0 1,000 0 Commercial banks 0 0 21 0 0 0 37 45 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 26 165 188 164 111 114 2,246 391 Public and publicly guaranteed 26 165 188 164 111 114 2,246 391 Official creditors 18 90 160 110 63 84 2,207 293 Multilateral 13 43 44 63 54 56 51 53 of which: IBRD 1 12 13 14 7 12 8 3 IDA 0 0 0 0 0 0 0 0 Bilateral 5 48 116 47 9 28 2,156 240 Private creditors 8 75 27 54 48 30 39 98 of which: Bonds 0 0 0 0 0 0 0 50 Commercial banks 3 26 27 34 28 10 6 9 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 78 217 124 46 52 36 377 162 Public and publicly guaranteed 78 217 124 46 52 36 377 162 Official creditors 68 174 118 37 46 32 372 77 Multilateral 21 26 42 26 21 21 21 19 of which: IBRD 5 8 5 3 1 2 1 1 IDA 0 0 0 0 0 0 0 0 Bilateral 47 148 75 12 24 11 350 58 Private creditors 11 44 7 9 7 4 5 85 of which: Bonds 0 0 0 0 0 0 0 80 Commercial banks 5 26 7 7 5 3 2 4 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 632 189 -83 312 -183 310 -1,341 -479 Net flows on external debt 164 14 -363 -50 -58 -11 -1,065 -414 Cross-currency valuation 293 228 -196 211 -328 213 224 -42 9. Debt restructurings Total amount rescheduled 271 472 637 749 407 0 0 0 Total amount forgiven 0 41 0 0 0 0 89 10 Debt buyback 0 0 0 0 0 0 2,100 216 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 473 189 172 122 90 87 113 109 Interest 52 42 38 31 28 27 25 23 Private creditors Principal 266 187 23 23 20 19 19 13 Interest 92 88 84 83 82 80 80 79 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country and include the effects of Paris Club debt buyback agreement signed in 2007. 127 GAMBIA, THE 1. Summary external debt data External debt stocks 369.1 426.1 483.3 673.4 669.5 728.1 726.6 452.6 Long-term external debt 308.4 385.5 437.9 621.8 626.2 692.4 698.6 419.9 Public and publicly guaranteed 308.4 385.5 437.9 621.8 626.2 692.4 698.6 419.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 44.9 25.8 18.1 24.8 20.8 17.8 6.3 12.3 Short-term external debt 15.7 14.8 27.3 26.9 22.4 17.9 21.6 20.4 interest arrears on long-term 0.6 0.7 0.0 2.9 1.4 0.9 0.6 0.4 Memorandum items 0.9 2.2 2.0 18.9 20.9 23.6 21.0 13.9 306.6 385.3 437.9 621.8 626.2 692.4 698.6 419.9 1.8 0.2 0.0 0.0 0.0 0.0 0.0 0.0 37.9 40.3 24.5 84.3 51.0 25.3 23.0 0.0 External debt flows Disbursements 32.8 23.0 29.7 51.4 62.6 59.9 58.6 76.2 Long-term external debt 23.5 23.0 20.7 51.4 62.6 59.9 52.5 69.9 IMF purchases 9.3 0.0 9.1 0.0 0.0 0.0 6.1 6.3 Principal repayments 25.5 21.7 14.3 28.2 17.9 21.6 24.4 14.7 Long-term external debt 20.2 15.5 12.7 17.0 15.8 17.5 20.8 14.7 IMF repurchases 5.3 6.2 1.6 11.2 2.0 4.0 3.7 0.0 Net flows 15.5 -7.6 20.6 17.2 41.7 34.3 38.2 60.5 Long-term external debt 3.4 7.5 8.0 34.4 46.7 42.4 31.7 55.2 Short-term external debt 8.1 -8.8 5.2 -6.0 -3.0 -4.0 4.0 -1.0 Interest payments 12.3 6.3 7.3 9.1 10.5 9.9 11.8 10.1 Long-term external debt 10.2 5.2 6.0 8.0 9.5 9.0 10.6 9.1 IMF charges 1.3 0.2 0.1 0.2 0.1 0.1 0.1 0.1 Short-term external debt 0.8 0.9 1.2 0.8 0.9 0.9 1.0 1.0 2. Other non-debt resource flows Foreign direct investment (net) 14.1 7.8 43.5 56.8 51.9 82.1 72.6 72.1 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 0.0 0.0 21.9 26.0 32.8 33.9 35.7 Grants (excluding technical coop.) 44.7 17.6 21.7 28.8 26.1 31.6 73.6 271.4 of which: Debt forgiveness grants .. .. 0.1 2.5 0.8 0.1 14.9 215.3 IDA grants .. .. .. 0.0 0.0 0.0 3.0 5.8 Memo: technical coop. grants 24.2 22.8 9.6 9.7 9.1 11.2 9.3 8.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.6 3.7 3.5 4.0 8.1 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 8.5 6.3 4.8 2.8 2.7 2.3 2.2 0.0 Swiss franc 1.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 39.1 43.5 51.3 54.1 55.0 53.6 47.2 46.5 4. Average terms of new commitments Official creditors Interest (%) 0.8 3.5 1.7 2.5 4.1 0.2 0.0 0.0 Maturity (years) 42.0 21.3 27.4 25.9 29.9 29.5 28.9 0.0 Grace period (years) 10.0 6.2 6.8 6.0 7.3 8.7 9.9 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 4.7 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 12.4 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 2.4 0.0 5. Major economic aggregates Gross national income (GNI) 291.4 377.1 400.4 366.0 417.8 459.7 596.7 735.6 Exports of goods, services & income 169.7 181.0 .. 245.5 240.4 268.0 286.0 .. Worker remit. & comp. of employees 10.0 19.0 14.0 62.1 57.4 63.7 47.3 64.0 Imports of goods & services 205.4 241.4 .. 282.5 296.2 358.1 369.4 .. International reserves 55.4 106.1 109.4 83.8 98.3 120.6 142.8 .. Current account balance 23.4 -8.2 .. -31.0 -43.6 -65.6 -52.7 .. 6. Ratios External debt stocks to exports (%) 217.5 235.4 .. 274.3 278.5 271.7 254.0 .. External debt stocks to GNI (%) 126.7 113.0 120.7 184.0 160.2 158.4 121.8 61.5 Debt service to exports (%) 22.2 15.5 .. 15.2 11.8 11.8 12.7 .. Short-term to external debt stocks (%) 4.3 3.5 5.7 4.0 3.4 2.5 3.0 4.5 Multilateral to external debt stocks (%) 55.0 76.6 71.1 75.0 76.1 78.3 78.8 63.4 Reserves to external debt stocks (%) 15.0 24.9 22.6 12.4 14.7 16.6 19.7 .. Reserves to imports (months) 3.2 5.3 .. 3.6 4.0 4.0 4.6 .. 128 GAMBIA, THE 7. Long-term external debt Debt outstanding and disbursed 308.4 385.5 437.9 621.8 626.2 692.4 698.6 419.9 Public and publicly guaranteed 308.4 385.5 437.9 621.8 626.2 692.4 698.6 419.9 Official creditors 290.1 385.2 436.9 620.9 625.5 691.5 697.6 408.1 Multilateral 203.1 326.2 343.7 505.3 509.5 570.1 572.2 286.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 101.6 161.6 170.7 247.4 244.9 263.5 218.9 61.9 Bilateral 87.0 59.0 93.2 115.6 116.0 121.5 125.4 121.4 Private creditors 18.3 0.2 1.0 0.9 0.8 0.9 1.0 11.8 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 16.0 0.0 0.9 0.9 0.8 0.9 1.0 11.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 23.5 23.0 20.7 51.4 62.6 59.9 52.5 69.9 Public and publicly guaranteed 23.5 23.0 20.7 51.4 62.6 59.9 52.5 69.9 Official creditors 23.5 23.0 20.7 51.4 62.6 59.9 52.5 58.4 Multilateral 17.7 19.0 17.1 44.8 53.7 50.0 40.9 46.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 9.8 11.6 7.7 20.8 18.9 11.7 1.1 2.4 Bilateral 5.8 4.0 3.6 6.6 8.9 9.9 11.6 11.7 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.5 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.5 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 20.2 15.5 12.7 17.0 15.8 17.5 20.8 14.7 Public and publicly guaranteed 20.2 15.5 12.7 17.0 15.8 17.5 20.8 14.7 Official creditors 12.7 15.1 12.3 17.0 15.8 17.5 20.8 14.7 Multilateral 4.7 6.7 7.9 8.3 10.1 11.0 14.7 8.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.3 0.8 2.3 1.4 3.3 4.3 5.0 0.1 Bilateral 7.9 8.5 4.4 8.6 5.7 6.6 6.0 6.4 Private creditors 7.5 0.4 0.4 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.0 0.0 0.3 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 10.2 5.2 6.0 8.0 9.5 9.0 10.6 9.1 Public and publicly guaranteed 10.2 5.2 6.0 8.0 9.5 9.0 10.6 9.1 Official creditors 5.5 5.2 5.9 8.0 9.5 9.0 10.6 9.1 Multilateral 2.9 3.5 3.6 5.7 5.3 5.7 6.8 5.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.7 1.2 1.2 1.9 1.9 2.0 2.0 0.5 Bilateral 2.6 1.7 2.3 2.3 4.2 3.3 3.8 4.0 Private creditors 4.7 0.0 0.1 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.8 0.0 0.1 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 31.4 3.1 18.7 37.8 -3.9 58.6 -1.5 -274.0 Net flows on external debt 15.5 -7.6 20.6 17.2 41.7 34.3 38.2 60.5 Cross-currency valuation 3.3 -17.5 -37.1 -16.3 -55.7 -17.2 -71.3 -189.9 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.4 Total amount forgiven 0.0 0.0 0.0 2.4 0.7 0.2 0.0 225.5 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 18.2 21.2 23.3 23.4 24.0 24.5 24.1 21.8 Interest 7.6 7.6 7.4 7.0 6.5 6.0 5.5 5.0 Private creditors Principal 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 Interest 0.7 0.7 0.7 0.6 0.5 0.4 0.3 0.3 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. Data for 2008 include the effects of Multilateral Debt Relief Initiative and HIPC debt relief, in the amount of $214,362 in thousands. 129 GEORGIA 1. Summary external debt data External debt stocks .. 1,240 1,638 2,064 1,909 1,970 2,296 3,380 Long-term external debt .. 1,039 1,316 1,692 1,626 1,625 1,784 2,562 Public and publicly guaranteed .. 1,039 1,274 1,593 1,494 1,466 1,544 2,222 Private nonguaranteed .. 0 42 99 132 159 241 341 Use of IMF credit .. 116 278 266 232 236 252 460 Short-term external debt .. 85 44 106 50 108 260 357 interest arrears on long-term .. 61 1 7 11 7 7 7 Memorandum items .. 211 179 191 151 69 32 28 .. 1,039 1,264 1,591 1,493 1,466 1,544 2,222 .. 0 52 101 133 159 241 341 .. 91 72 60 84 104 55 812 External debt flows Disbursements .. 174 65 197 187 216 235 1,149 Long-term external debt .. 98 65 177 146 175 193 893 IMF purchases .. 76 0 21 41 41 43 256 Principal repayments .. 0 68 200 157 234 143 120 Long-term external debt .. 0 42 145 103 185 103 85 IMF repurchases .. 0 26 55 54 49 40 35 Net flows .. -272 33 66 -30 44 245 1,126 Long-term external debt .. 98 23 32 43 -10 89 808 Short-term external debt .. -446 36 68 -60 62 152 97 Interest payments .. 20 49 34 30 34 38 70 Long-term external debt .. 17 43 31 27 31 31 58 IMF charges .. 3 5 2 1 1 1 2 Short-term external debt .. 0 1 2 2 2 6 11 2. Other non-debt resource flows Foreign direct investment (net) .. 6 131 492 453 1,170 1,750 1,564 Portfolio equity flows .. 0 0 0 3 143 34 118 Profit remittances on FDI .. 0 0 100 116 94 298 361 Grants (excluding technical coop.) .. 85 57 138 109 143 239 626 of which: Debt forgiveness grants .. .. 0 0 0 0 54 2 IDA grants .. .. .. 0 7 3 4 3 Memo: technical coop. grants .. 37 83 100 129 127 61 88 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 20.9 20.2 15.5 17.4 12.0 Japanese yen .. 0.0 0.2 2.8 2.7 3.0 3.1 2.6 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.4 0.2 0.2 0.2 0.0 0.0 0.0 U.S.dollars .. 75.3 82.3 73.0 72.7 76.2 72.1 75.5 4. Average terms of new commitments Official creditors Interest (%) .. 1.5 1.1 1.3 0.8 1.4 0.8 1.3 Maturity (years) .. 32.3 32.0 33.3 40.3 34.8 26.9 25.4 Grace period (years) .. 9.6 8.9 9.9 10.7 8.8 10.2 8.7 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 7.5 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 5.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 5.0 5. Major economic aggregates Gross national income (GNI) .. 2,574 3,175 5,204 6,473 7,926 10,215 12,685 Exports of goods, services & income .. .. 939 1,963 2,545 3,046 3,909 4,482 Worker remit. & comp. of employees .. .. 274 303 346 485 695 732 Imports of goods & services .. .. 1,248 2,666 3,519 4,591 6,362 8,153 International reserves .. 199 116 387 479 931 1,361 1,480 Current account balance .. .. -269 -354 -710 -1,175 -2,009 -2,915 6. Ratios External debt stocks to exports (%) .. .. 174.5 105.2 75.0 64.7 58.7 75.4 External debt stocks to GNI (%) .. 48.2 51.6 39.7 29.5 24.9 22.5 26.6 Debt service to exports (%) .. .. 12.5 11.9 7.4 8.8 4.6 4.2 Short-term to external debt stocks (%) .. 6.9 2.7 5.1 2.6 5.5 11.3 10.6 Multilateral to external debt stocks (%) .. 19.7 29.2 40.5 42.9 45.9 44.2 35.2 Reserves to external debt stocks (%) .. 16.0 7.1 18.7 25.1 47.3 59.3 43.8 Reserves to imports (months) .. .. 1.1 1.7 1.6 2.4 2.6 2.2 130 GEORGIA 7. Long-term external debt Debt outstanding and disbursed .. 1,039 1,316 1,692 1,626 1,625 1,784 2,562 Public and publicly guaranteed .. 1,039 1,274 1,593 1,494 1,466 1,544 2,222 Official creditors .. 939 1,272 1,590 1,492 1,464 1,542 1,720 Multilateral .. 245 478 836 819 904 1,015 1,190 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 84 347 678 679 785 885 989 Bilateral .. 694 794 754 673 560 527 530 Private creditors .. 100 2 3 2 2 2 501 of which: Bonds .. 0 0 0 0 0 0 500 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 42 99 132 159 241 341 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 98 65 177 146 175 193 893 Public and publicly guaranteed .. 98 37 102 76 119 100 725 Official creditors .. 98 37 102 76 119 100 225 Multilateral .. 96 25 74 60 88 82 202 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 85 18 65 54 76 72 121 Bilateral .. 2 13 28 16 31 18 23 Private creditors .. 0 0 0 0 0 0 500 of which: Bonds .. 0 0 0 0 0 0 500 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 28 74 69 56 93 168 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 42 145 103 185 103 85 Public and publicly guaranteed .. 0 41 133 80 166 86 40 Official creditors .. 0 41 133 80 165 85 40 Multilateral .. 0 5 21 10 47 15 19 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 0 2 4 7 10 Bilateral .. 0 35 112 70 119 71 21 Private creditors .. 0 0 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 2 11 23 19 17 45 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 17 43 31 27 31 31 58 Public and publicly guaranteed .. 17 42 28 23 24 23 44 Official creditors .. 17 42 27 23 24 23 25 Multilateral .. 0 8 10 11 11 10 13 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 3 5 6 6 6 7 Bilateral .. 17 34 18 12 13 13 12 Private creditors .. 0 0 0 0 0 0 19 of which: Bonds .. 0 0 0 0 0 0 19 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 1 3 4 6 8 14 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. -210 -16 130 -156 61 327 1,083 Net flows on external debt .. -272 33 66 -30 44 245 1,126 Cross-currency valuation .. 18 -51 68 -123 81 76 -13 9. Debt restructurings Total amount rescheduled .. 0 0 61 57 44 0 0 Total amount forgiven .. 0 0 0 0 109 2 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 54 56 61 60 74 48 52 56 Interest 22 22 22 21 20 19 18 17 Private creditors Principal 28 61 78 56 549 36 22 7 Interest 53 50 46 43 22 2 1 0 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. 131 GHANA 1. Summary external debt data External debt stocks 3,734 5,495 6,116 7,053 6,731 3,188 4,463 4,970 Long-term external debt 2,670 4,227 5,251 5,879 5,727 1,886 3,031 3,452 Public and publicly guaranteed 2,637 4,200 4,994 5,879 5,727 1,886 3,031 3,412 Private nonguaranteed 33 27 257 0 0 0 0 39 Use of IMF credit 745 648 293 468 417 159 167 162 Short-term external debt 320 620 572 706 587 1,143 1,266 1,356 interest arrears on long-term 56 26 10 19 9 19 11 9 Memorandum items 77 86 25 35 19 42 31 29 2,637 4,200 4,994 5,879 5,727 1,886 3,031 3,412 33 27 257 0 0 0 0 39 632 620 453 498 352 477 1,124 2,559 External debt flows Disbursements 473 570 397 450 520 506 1,154 523 Long-term external debt 408 528 362 411 481 390 1,154 523 IMF purchases 65 42 35 39 39 116 0 0 Principal repayments 260 292 254 157 188 173 101 89 Long-term external debt 143 184 217 134 156 173 101 89 IMF repurchases 116 108 37 24 32 0 0 0 Net flows 312 349 7 305 223 879 1,184 527 Long-term external debt 265 344 144 278 325 217 1,053 435 Short-term external debt 98 71 -136 12 -109 546 131 92 Interest payments 104 95 134 85 95 85 79 146 Long-term external debt 55 57 95 58 72 56 46 112 IMF charges 37 10 1 2 2 0 1 1 Short-term external debt 12 28 38 25 21 29 32 33 2. Other non-debt resource flows Foreign direct investment (net) 15 107 166 139 145 636 855 2,112 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 7 17 17 97 94 92 135 172 Grants (excluding technical coop.) 449 238 225 1,909 1,007 5,110 742 764 of which: Debt forgiveness grants .. .. 2 1,330 486 4,556 0 0 IDA grants .. .. .. 66 24 5 10 16 Memo: technical coop. grants 61 108 125 138 123 141 93 102 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.1 3.2 11.5 11.2 12.1 Japanese yen 5.4 14.0 16.2 0.0 0.0 0.0 0.0 0.0 Pound sterling 3.0 5.2 2.1 0.1 0.0 0.1 0.0 0.0 Swiss franc 0.7 0.3 0.1 0.0 0.0 0.1 0.1 0.1 U.S.dollars 60.5 59.9 67.6 81.8 79.4 53.9 60.4 58.0 4. Average terms of new commitments Official creditors Interest (%) 2.1 1.5 1.4 0.9 0.8 0.7 0.8 2.1 Maturity (years) 35.4 34.8 34.7 38.4 43.0 41.8 38.6 27.1 Grace period (years) 9.4 9.4 8.9 9.5 10.3 10.3 10.0 7.2 Private creditors Interest (%) 8.1 6.4 6.2 3.3 0.8 2.8 8.5 2.7 Maturity (years) 8.2 6.6 10.2 15.2 40.2 11.8 10.1 13.6 Grace period (years) 2.1 1.3 2.7 4.9 10.7 2.4 10.0 2.9 5. Major economic aggregates Gross national income (GNI) 5,774 6,324 4,831 8,674 10,533 12,588 14,851 15,875 Exports of goods, services & income 955 1,613 2,489 3,534 4,051 5,302 6,205 7,282 Worker remit. & comp. of employees 6 17 32 82 99 105 117 128 Imports of goods & services 1,583 2,262 3,474 5,598 6,851 8,487 10,283 12,911 International reserves 309 804 309 1,750 1,897 2,269 .. .. Current account balance -223 -144 -387 -567 -1,105 -1,043 -2,151 -3,543 6. Ratios External debt stocks to exports (%) 391.1 340.7 245.8 199.6 166.1 60.1 71.9 68.2 External debt stocks to GNI (%) 64.7 86.9 126.6 81.3 63.9 25.3 30.1 31.3 Debt service to exports (%) 38.1 24.0 15.6 6.9 7.0 4.9 2.9 3.2 Short-term to external debt stocks (%) 8.6 11.3 9.4 10.0 8.7 35.9 28.4 27.3 Multilateral to external debt stocks (%) 49.4 54.3 59.9 72.5 74.9 38.9 34.7 37.5 Reserves to external debt stocks (%) 8.3 14.6 5.1 24.8 28.2 71.2 .. .. Reserves to imports (months) 2.3 4.3 1.1 3.8 3.3 3.2 .. .. 132 GHANA 7. Long-term external debt Debt outstanding and disbursed 2,670 4,227 5,251 5,879 5,727 1,886 3,031 3,452 Public and publicly guaranteed 2,637 4,200 4,994 5,879 5,727 1,886 3,031 3,412 Official creditors 2,424 3,847 4,703 5,456 5,312 1,445 1,766 2,100 Multilateral 1,846 2,982 3,663 5,117 5,041 1,239 1,551 1,862 of which: IBRD 113 59 9 2 0 0 0 0 IDA 1,310 2,375 3,130 4,309 4,234 815 1,087 1,330 Bilateral 578 865 1,039 339 271 206 215 238 Private creditors 213 352 292 423 415 441 1,265 1,312 of which: Bonds 0 0 0 0 0 0 750 750 Commercial banks 10 97 57 253 264 291 323 331 Private nonguaranteed 33 27 257 0 0 0 0 39 of which: Bonds 0 0 250 0 0 0 0 39 Disbursements 408 528 362 411 481 390 1,154 523 Public and publicly guaranteed 400 528 362 411 481 390 1,154 523 Official creditors 351 414 340 342 428 350 307 415 Multilateral 274 284 223 328 410 344 282 364 of which: IBRD 0 0 0 0 0 0 0 0 IDA 201 242 204 230 305 266 231 257 Bilateral 77 130 117 14 17 6 24 52 Private creditors 48 115 22 69 53 40 847 108 of which: Bonds 0 0 0 0 0 0 750 0 Commercial banks 9 64 14 66 49 29 46 53 Private nonguaranteed 8 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 143 184 217 134 156 173 101 89 Public and publicly guaranteed 135 179 214 133 156 173 101 89 Official creditors 64 108 141 105 117 141 51 48 Multilateral 29 73 68 27 42 69 30 23 of which: IBRD 10 15 8 2 2 0 0 0 IDA 2 8 25 11 15 34 1 1 Bilateral 35 34 74 77 75 73 21 26 Private creditors 71 72 73 28 40 31 50 40 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 17 2 27 10 20 17 33 33 Private nonguaranteed 8 5 3 1 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 55 57 95 58 72 56 46 112 Public and publicly guaranteed 53 55 80 58 72 56 46 110 Official creditors 42 50 64 44 54 40 26 26 Multilateral 30 40 39 38 42 31 17 18 of which: IBRD 9 6 1 0 0 0 0 0 IDA 8 17 22 28 31 19 8 9 Bilateral 12 10 26 6 13 9 8 8 Private creditors 11 5 16 14 17 16 21 84 of which: Bonds 0 0 0 0 0 0 0 64 Commercial banks 2 0 4 4 11 11 15 14 Private nonguaranteed 2 2 14 0 0 0 0 2 of which: Bonds 0 0 14 0 0 0 0 2 8. Debt stock-flow reconciliation Total change in external debt stocks 440 394 -304 -515 -322 -3,543 1,275 507 Net flows on external debt 312 349 7 305 223 879 1,184 527 Cross-currency valuation 166 -120 -307 183 -458 -4,000 61 -30 9. Debt restructurings Total amount rescheduled 0 0 0 5 0 7 0 0 Total amount forgiven 102 0 0 1,129 72 4,258 0 15 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 69 75 109 111 102 94 104 124 Interest 33 40 43 44 43 42 40 38 Private creditors Principal 71 85 102 155 142 132 119 115 Interest 90 98 99 97 93 90 86 83 Notes: Long-term private nonguaranteed debt data only cover Bonds. Ghana was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. Long- term public and publicly guaranteed debt data include the effects of Paris Club debt restructuring agreement signed in 2005. 133 GRENADA 1. Summary external debt data External debt stocks 110.8 127.0 201.4 432.2 406.4 492.2 524.9 519.0 Long-term external debt 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 Public and publicly guaranteed 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 9.1 8.4 9.5 7.7 13.0 Short-term external debt 12.9 14.6 21.6 76.3 6.5 35.0 49.1 59.9 interest arrears on long-term 6.9 6.6 4.5 13.3 4.5 6.0 12.1 10.9 Memorandum items 17.0 20.8 10.6 7.4 9.6 10.5 13.4 17.9 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.9 17.0 97.4 60.1 17.5 28.1 25.3 4.3 External debt flows Disbursements 14.8 4.9 77.6 59.0 38.5 27.8 23.6 20.6 Long-term external debt 14.8 4.9 77.6 54.6 38.5 25.5 23.6 12.1 IMF purchases 0.0 0.0 0.0 4.3 0.0 2.3 0.0 8.5 Principal repayments 1.7 5.6 10.1 10.5 5.5 7.5 8.5 14.4 Long-term external debt 1.3 5.6 10.1 10.5 5.5 5.9 6.2 11.5 IMF repurchases 0.5 0.0 0.0 0.0 0.0 1.6 2.2 2.9 Net flows 13.1 -1.7 63.4 45.5 -28.1 47.3 23.2 18.3 Long-term external debt 13.5 -0.8 67.5 44.2 32.9 19.6 17.4 0.7 Short-term external debt 0.0 -1.0 -4.1 -3.0 -61.0 27.0 8.0 12.0 Interest payments 1.6 2.3 4.4 19.0 4.9 8.0 9.5 9.1 Long-term external debt 1.2 1.7 3.4 17.0 3.3 6.8 7.9 7.6 IMF charges 0.0 0.0 0.0 0.1 0.3 0.4 0.4 0.2 Short-term external debt 0.4 0.5 1.0 1.9 1.3 0.8 1.3 1.3 2. Other non-debt resource flows Foreign direct investment (net) 12.9 20.0 37.4 65.0 70.2 89.8 174.2 161.2 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 8.4 12.6 27.8 24.9 22.7 22.0 27.0 26.3 Grants (excluding technical coop.) 4.2 8.1 7.1 12.6 37.3 4.4 7.3 12.1 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.1 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 2.8 3.8 4.7 1.2 1.7 1.2 0.6 1.3 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.6 0.4 0.3 0.3 0.4 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 34.5 33.7 6.3 0.3 0.2 0.0 0.0 0.7 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 57.3 59.7 78.7 91.1 91.3 92.2 92.2 90.6 4. Average terms of new commitments Official creditors Interest (%) 4.6 2.6 3.8 2.4 2.0 1.8 2.5 0.8 Maturity (years) 19.1 28.2 24.4 26.6 24.3 30.7 25.3 34.1 Grace period (years) 2.4 5.6 7.2 8.7 5.1 9.7 7.2 9.6 Private creditors Interest (%) 0.0 0.0 5.0 5.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 13.5 10.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 7.2 10.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 208.9 262.9 375.3 380.0 452.4 448.7 574.3 601.9 Exports of goods, services & income 105.5 148.4 265.0 248.5 187.1 202.3 237.2 .. Worker remit. & comp. of employees 18.0 18.0 22.0 72.2 51.6 53.9 55.4 64.0 Imports of goods & services 153.2 187.6 349.0 376.1 429.0 403.6 468.2 .. International reserves 17.6 36.7 57.7 121.7 94.3 100.0 110.6 105.3 Current account balance -46.2 -41.8 -88.1 -54.7 -186.4 -192.8 -222.4 .. 6. Ratios External debt stocks to exports (%) 105.0 85.6 76.0 173.9 217.2 243.3 221.3 .. External debt stocks to GNI (%) 53.0 48.3 53.7 113.7 89.8 109.7 91.4 86.2 Debt service to exports (%) 3.1 5.3 5.5 11.9 5.6 7.7 7.6 .. Short-term to external debt stocks (%) 11.6 11.5 10.7 17.7 1.6 7.1 9.4 11.5 Multilateral to external debt stocks (%) 35.7 39.6 31.4 21.8 27.4 26.1 28.5 28.7 Reserves to external debt stocks (%) 15.9 28.9 28.6 28.2 23.2 20.3 21.1 20.3 Reserves to imports (months) 1.4 2.4 2.0 3.9 2.6 3.0 2.8 .. 134 GRENADA 7. Long-term external debt Debt outstanding and disbursed 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 Public and publicly guaranteed 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 Official creditors 95.0 104.7 116.8 141.5 172.7 206.2 227.4 233.5 Multilateral 39.5 50.3 63.3 94.3 111.2 128.7 149.5 148.9 of which: IBRD 0.0 0.0 2.2 7.8 10.1 9.0 12.0 11.5 IDA 5.5 7.3 9.6 21.3 22.9 27.8 34.8 36.6 Bilateral 55.4 54.4 53.5 47.2 61.4 77.5 77.9 84.6 Private creditors 2.9 7.7 63.0 205.2 218.9 241.5 240.7 212.7 of which: Bonds 0.0 0.0 26.6 171.3 214.3 239.4 239.4 210.3 Commercial banks 0.7 0.3 32.2 31.7 2.4 1.5 1.1 1.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 14.8 4.9 77.6 54.6 38.5 25.5 23.6 12.1 Public and publicly guaranteed 14.8 4.9 77.6 54.6 38.5 25.5 23.6 12.1 Official creditors 14.3 4.9 19.8 12.8 38.5 25.5 23.6 12.1 Multilateral 2.9 3.4 11.7 11.9 22.7 20.5 23.6 9.4 of which: IBRD 0.0 0.0 1.9 1.8 2.8 0.1 4.3 0.9 IDA 1.0 0.0 0.8 1.1 3.6 4.0 6.0 2.5 Bilateral 11.4 1.5 8.1 0.9 15.8 5.0 0.0 2.7 Private creditors 0.5 0.0 57.8 41.9 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 26.6 41.5 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 30.0 0.4 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.3 5.6 10.1 10.5 5.5 5.9 6.2 11.5 Public and publicly guaranteed 1.3 5.6 10.1 10.5 5.5 5.9 6.2 11.5 Official creditors 1.1 3.9 6.3 6.1 5.2 5.9 6.2 11.5 Multilateral 1.0 2.8 3.2 3.2 3.7 4.5 4.5 9.6 of which: IBRD 0.0 0.0 0.0 0.3 0.6 1.1 1.2 1.4 IDA 0.0 0.1 0.1 0.1 0.2 0.3 0.3 0.4 Bilateral 0.1 1.1 3.2 2.9 1.5 1.4 1.8 1.9 Private creditors 0.2 1.8 3.7 4.4 0.4 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.1 0.2 2.4 2.9 0.4 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.2 1.7 3.4 17.0 3.3 6.8 7.9 7.6 Public and publicly guaranteed 1.2 1.7 3.4 17.0 3.3 6.8 7.9 7.6 Official creditors 1.0 1.6 2.3 4.5 3.3 4.5 5.5 5.5 Multilateral 1.0 1.3 1.1 2.3 2.6 3.8 3.9 4.2 of which: IBRD 0.0 0.0 0.0 0.3 0.4 0.5 0.5 0.6 IDA 0.0 0.1 0.1 0.2 0.2 0.2 0.2 0.3 Bilateral 0.0 0.2 1.3 2.3 0.7 0.7 1.6 1.3 Private creditors 0.2 0.2 1.1 12.4 0.0 2.3 2.3 2.1 of which: Bonds 0.0 0.0 0.0 9.3 0.0 2.3 2.3 2.1 Commercial banks 0.2 0.1 1.1 3.1 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 21.8 -2.0 65.6 55.5 -25.7 85.8 32.7 -5.8 Net flows on external debt 13.1 -1.7 63.4 45.5 -28.1 47.3 23.2 18.3 Cross-currency valuation 6.3 0.2 -2.0 2.2 -3.3 2.3 3.2 -0.9 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 208.7 13.2 1.5 1.4 Total amount forgiven 0.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 13.1 12.1 13.3 13.5 27.4 11.4 11.8 11.7 Interest 6.1 5.9 5.7 5.3 5.0 4.2 3.8 3.5 Private creditors Principal 0.2 0.2 0.2 5.7 0.0 0.0 0.0 0.0 Interest 11.9 11.9 11.9 21.1 21.0 28.1 28.1 37.4 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2006. 135 GUATEMALA 1. Summary external debt data External debt stocks 2,845 3,282 3,853 9,716 10,981 12,308 14,570 15,889 Long-term external debt 2,365 2,470 2,681 8,100 9,528 10,834 12,566 13,738 Public and publicly guaranteed 2,238 2,328 2,540 3,794 3,687 3,921 4,214 4,374 Private nonguaranteed 127 142 142 4,306 5,841 6,913 8,352 9,364 Use of IMF credit 67 0 0 0 0 0 0 0 Short-term external debt 414 811 1,172 1,616 1,453 1,474 2,004 2,151 interest arrears on long-term 207 219 317 414 414 0 0 0 Memorandum items 264 257 224 131 131 0 0 0 2,235 2,328 2,540 3,794 3,687 3,921 4,214 4,374 130 142 142 4,306 5,841 6,913 8,352 9,364 139 99 87 411 82 755 433 508 External debt flows Disbursements 166 200 210 953 2,184 2,240 2,738 2,155 Long-term external debt 166 200 210 953 2,184 2,240 2,738 2,155 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 123 213 188 726 705 831 1,034 1,009 Long-term external debt 111 213 188 726 705 831 1,034 1,009 IMF repurchases 12 0 0 0 0 0 0 0 Net flows 48 140 56 260 1,316 1,844 2,234 1,293 Long-term external debt 56 -13 22 227 1,479 1,409 1,704 1,146 Short-term external debt 4 153 34 33 -163 435 530 147 Interest payments 114 145 202 467 550 634 739 772 Long-term external debt 91 113 152 431 497 575 668 697 IMF charges 7 0 0 0 0 0 0 0 Short-term external debt 16 32 50 36 53 59 70 75 2. Other non-debt resource flows Foreign direct investment (net) 48 75 230 296 508 592 745 838 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 37 95 248 270 370 607 819 886 Grants (excluding technical coop.) 69 106 145 135 198 410 470 459 of which: Debt forgiveness grants .. .. 0 0 0 179 179 179 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 87 91 87 121 96 117 79 111 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.0 2.5 2.3 2.1 1.9 Japanese yen 0.0 2.5 2.9 3.7 3.5 3.3 3.1 3.7 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.5 0.2 0.0 0.0 0.0 0.0 0.0 U.S.dollars 51.6 54.8 75.0 83.9 85.7 86.9 88.1 88.6 4. Average terms of new commitments Official creditors Interest (%) 4.9 4.2 7.2 4.2 5.4 5.6 5.9 4.4 Maturity (years) 23.1 30.9 19.2 13.9 25.8 23.0 17.8 20.1 Grace period (years) 6.2 7.9 4.7 3.7 5.1 4.1 4.0 4.0 Private creditors Interest (%) 8.4 0.0 0.0 8.1 0.0 0.0 0.0 0.0 Maturity (years) 4.3 0.0 0.0 29.7 0.0 0.0 0.0 0.0 Grace period (years) 0.6 0.0 0.0 29.7 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 7,494 14,498 19,065 23,698 26,934 29,943 33,718 38,426 Exports of goods, services & income 1,695 3,228 4,640 9,042 10,113 11,715 13,477 14,592 Worker remit. & comp. of employees 119 358 596 2,627 3,067 3,700 4,236 4,451 Imports of goods & services 2,028 3,933 5,991 10,711 11,886 13,828 15,910 17,045 International reserves 362 783 1,806 3,522 3,777 4,055 4,315 4,654 Current account balance -213 -572 -1,050 -1,164 -1,241 -1,524 -1,786 -1,863 6. Ratios External debt stocks to exports (%) 167.9 101.7 83.0 107.5 108.6 105.1 108.1 108.9 External debt stocks to GNI (%) 38.0 22.6 20.2 41.0 40.8 41.1 43.2 41.3 Debt service to exports (%) 14.0 11.1 8.4 13.2 12.4 12.5 13.2 12.2 Short-term to external debt stocks (%) 14.5 24.7 30.4 16.6 13.2 12.0 13.8 13.5 Multilateral to external debt stocks (%) 36.4 30.4 38.0 21.1 18.3 19.7 19.9 19.2 Reserves to external debt stocks (%) 12.7 23.9 46.9 36.3 34.4 32.9 29.6 29.3 Reserves to imports (months) 2.1 2.4 3.6 3.9 3.8 3.5 3.3 3.3 136 GUATEMALA 7. Long-term external debt Debt outstanding and disbursed 2,365 2,470 2,681 8,100 9,528 10,834 12,566 13,738 Public and publicly guaranteed 2,238 2,328 2,540 3,794 3,687 3,921 4,214 4,374 Official creditors 1,684 1,787 2,098 2,557 2,451 2,815 3,258 3,419 Multilateral 1,036 998 1,462 2,046 2,011 2,429 2,897 3,054 of which: IBRD 293 158 296 478 479 642 740 806 IDA 0 0 0 0 0 0 0 0 Bilateral 648 789 635 511 440 386 362 366 Private creditors 553 541 442 1,237 1,237 1,105 955 955 of which: Bonds 190 264 245 1,105 1,105 1,105 955 955 Commercial banks 118 61 0 0 0 0 0 0 Private nonguaranteed 127 142 142 4,306 5,841 6,913 8,352 9,364 of which: Bonds 0 0 0 50 50 50 50 55 Disbursements 166 200 210 953 2,184 2,240 2,738 2,155 Public and publicly guaranteed 159 200 210 625 144 581 624 393 Official creditors 126 128 210 295 144 581 624 393 Multilateral 68 87 157 274 131 572 619 383 of which: IBRD 16 13 51 79 34 199 136 133 IDA 0 0 0 0 0 0 0 0 Bilateral 58 41 53 21 13 9 6 10 Private creditors 33 73 0 330 0 0 0 0 of which: Bonds 0 59 0 330 0 0 0 0 Commercial banks 14 2 0 0 0 0 0 0 Private nonguaranteed 7 0 0 329 2,041 1,659 2,114 1,762 of which: Bonds 0 0 0 50 0 0 0 5 Principal repayments 111 213 188 726 705 831 1,034 1,009 Public and publicly guaranteed 108 194 168 274 199 244 359 259 Official creditors 59 151 136 273 199 234 209 259 Multilateral 28 92 78 170 145 163 163 224 of which: IBRD 5 40 13 29 33 36 38 67 IDA 0 0 0 0 0 0 0 0 Bilateral 31 59 58 102 54 71 46 35 Private creditors 49 43 32 2 1 11 150 0 of which: Bonds 11 15 31 1 0 0 150 0 Commercial banks 29 17 0 0 0 0 0 0 Private nonguaranteed 3 19 20 452 506 587 675 750 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 91 113 152 431 497 575 668 697 Public and publicly guaranteed 81 108 133 214 203 227 249 258 Official creditors 52 80 110 113 102 127 148 170 Multilateral 33 52 84 96 87 114 137 160 of which: IBRD 3 14 21 17 19 28 37 40 IDA 0 0 0 0 0 0 0 0 Bilateral 19 29 26 18 15 13 11 10 Private creditors 29 28 23 101 101 101 101 88 of which: Bonds 18 23 22 101 101 101 101 88 Commercial banks 7 3 0 0 0 0 0 0 Private nonguaranteed 10 5 19 217 294 348 420 440 of which: Bonds 0 0 0 5 5 5 5 5 8. Debt stock-flow reconciliation Total change in external debt stocks 243 175 72 4,634 1,265 1,326 2,262 1,320 Net flows on external debt 48 140 56 260 1,316 1,844 2,234 1,293 Cross-currency valuation 36 10 -27 11 -27 17 24 33 9. Debt restructurings Total amount rescheduled 30 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 4 0 538 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 283 314 283 272 276 274 257 256 Interest 142 133 123 114 104 95 86 77 Private creditors Principal 2,564 1,769 1,908 931 1,045 559 465 372 Interest 498 390 295 178 133 100 72 50 Notes: Data on long-term private nonguaranteed debt data are World Bank staff estimates. 137 GUINEA 1. Summary external debt data External debt stocks 2,478 3,248 3,066 3,136 2,898 3,046 3,143 3,092 Long-term external debt 2,253 2,991 2,655 2,933 2,727 2,822 2,939 2,830 Public and publicly guaranteed 2,253 2,991 2,655 2,933 2,727 2,822 2,939 2,830 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 51 94 113 122 87 72 65 71 Short-term external debt 173 164 299 82 84 152 139 192 interest arrears on long-term 56 85 82 82 84 90 95 36 Memorandum items 190 372 322 303 306 311 271 126 2,253 2,991 2,655 2,933 2,727 2,822 2,939 2,830 0 0 0 0 0 0 0 0 487 215 76 252 39 9 1 0 External debt flows Disbursements 196 200 75 46 91 73 89 94 Long-term external debt 196 169 75 46 91 73 78 67 IMF purchases 0 31 0 0 0 0 11 28 Principal repayments 110 128 100 137 116 120 121 109 Long-term external debt 95 120 92 118 91 100 99 89 IMF repurchases 14 9 8 19 26 19 21 20 Net flows 86 99 -37 -147 -25 15 -50 98 Long-term external debt 100 50 -17 -72 1 -27 -21 -22 Short-term external debt 0 27 -12 -56 0 62 -18 112 Interest payments 59 49 57 42 47 51 51 37 Long-term external debt 53 44 41 42 46 47 49 34 IMF charges 2 0 1 0 1 0 0 0 Short-term external debt 4 5 15 0 0 4 1 3 2. Other non-debt resource flows Foreign direct investment (net) 18 1 10 0 105 108 386 382 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 61 23 8 0 0 0 54 14 Grants (excluding technical coop.) 93 235 112 216 142 118 188 291 of which: Debt forgiveness grants .. .. 18 71 27 16 28 125 IDA grants .. .. .. 4 6 9 12 17 Memo: technical coop. grants 61 72 51 70 62 73 51 44 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.5 9.8 11.0 12.1 11.7 Japanese yen 2.2 3.5 3.1 2.2 2.0 1.7 1.6 1.9 Pound sterling 1.8 0.8 0.4 0.2 0.2 0.2 0.1 0.0 Swiss franc 0.6 0.3 0.2 0.3 0.2 0.2 0.2 0.3 U.S.dollars 33.1 48.4 60.5 63.9 63.8 63.1 63.3 66.0 4. Average terms of new commitments Official creditors Interest (%) 2.6 2.0 1.3 3.0 0.5 0.8 0.8 0.0 Maturity (years) 30.5 25.9 38.1 28.6 34.4 23.4 49.9 0.0 Grace period (years) 8.2 8.5 9.1 10.7 8.4 9.2 10.4 0.0 Private creditors Interest (%) 0.0 2.7 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 3.5 0.0 2.9 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.1 0.0 0.6 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,518 3,609 3,035 3,879 3,212 3,257 4,497 4,222 Exports of goods, services & income 841 714 759 862 .. .. 1,328 1,519 Worker remit. & comp. of employees .. 1 1 42 42 42 151 72 Imports of goods & services 1,115 1,109 973 1,001 .. .. 1,610 1,911 International reserves .. 87 168 113 97 .. .. .. Current account balance -203 -216 -140 -162 .. .. -382 -434 6. Ratios External debt stocks to exports (%) 294.6 455.2 404.0 363.7 .. .. 236.7 203.6 External debt stocks to GNI (%) 98.4 90.0 101.0 80.9 90.2 93.5 69.9 73.2 Debt service to exports (%) 20.0 24.8 20.6 20.8 .. .. 12.9 9.6 Short-term to external debt stocks (%) 7.0 5.0 9.7 2.6 2.9 5.0 4.4 6.2 Multilateral to external debt stocks (%) 27.4 45.0 52.7 60.8 60.3 59.1 59.4 59.8 Reserves to external debt stocks (%) .. 2.7 5.5 3.6 3.4 .. .. .. Reserves to imports (months) .. 0.9 2.1 1.4 .. .. .. .. 138 GUINEA 7. Long-term external debt Debt outstanding and disbursed 2,253 2,991 2,655 2,933 2,727 2,822 2,939 2,830 Public and publicly guaranteed 2,253 2,991 2,655 2,933 2,727 2,822 2,939 2,830 Official creditors 2,145 2,908 2,626 2,901 2,693 2,785 2,895 2,799 Multilateral 678 1,460 1,615 1,906 1,747 1,800 1,866 1,848 of which: IBRD 28 0 0 0 0 0 0 0 IDA 392 847 982 1,287 1,205 1,259 1,305 1,288 Bilateral 1,467 1,448 1,011 996 947 985 1,029 951 Private creditors 108 82 29 31 33 37 44 30 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 24 25 0 3 5 8 15 18 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 196 169 75 46 91 73 78 67 Public and publicly guaranteed 196 169 75 46 91 73 78 67 Official creditors 196 169 75 43 89 70 72 63 Multilateral 90 161 70 43 41 33 41 45 of which: IBRD 0 0 0 0 0 0 0 0 IDA 52 59 29 38 32 22 21 22 Bilateral 106 8 5 0 48 37 32 18 Private creditors 0 0 0 2 2 3 6 4 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 2 2 3 6 4 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 95 120 92 118 91 100 99 89 Public and publicly guaranteed 95 120 92 118 91 100 99 89 Official creditors 77 105 92 118 91 100 99 89 Multilateral 21 35 51 81 49 60 60 64 of which: IBRD 12 0 0 0 0 0 0 0 IDA 1 2 11 7 9 24 26 31 Bilateral 55 70 40 37 42 40 39 25 Private creditors 19 15 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 7 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 53 44 41 42 46 47 49 34 Public and publicly guaranteed 53 44 41 42 46 47 49 34 Official creditors 47 43 41 41 44 43 44 28 Multilateral 12 15 24 23 20 19 18 18 of which: IBRD 2 0 0 0 0 0 0 0 IDA 2 6 7 8 9 9 10 10 Bilateral 35 28 17 17 24 25 26 10 Private creditors 6 1 0 1 2 3 5 6 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 0 0 1 2 3 5 6 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 301 136 -122 -43 -238 148 97 -51 Net flows on external debt 86 99 -37 -147 -25 15 -50 98 Cross-currency valuation 106 -16 -97 73 -158 83 101 11 9. Debt restructurings Total amount rescheduled 110 130 0 2 0 0 41 86 Total amount forgiven 2 61 0 19 13 0 23 177 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 112 113 115 116 115 119 131 122 Interest 40 39 41 39 36 34 31 29 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 2 2 2 2 2 2 2 2 Notes: Data on long-term public and publicly guaranteed debt in 2008 are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreement signed in 2008. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $14,757 in thousands and $5,738 in thousands respectively. 139 GUINEA-BISSAU 1. Summary external debt data External debt stocks 695 895 947 1,105 1,044 1,098 1,158 1,157 Long-term external debt 633 794 822 969 912 963 1,010 1,004 Public and publicly guaranteed 633 794 822 969 912 963 1,010 1,004 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 5 6 25 16 12 8 5 9 Short-term external debt 56 95 100 120 121 126 142 144 interest arrears on long-term 30 89 87 117 119 126 142 144 Memorandum items 113 251 219 276 295 324 343 356 633 794 822 969 912 963 1,010 1,004 0 0 0 0 0 0 0 0 98 22 27 3 4 0 0 0 External debt flows Disbursements 36 23 22 29 14 9 15 12 Long-term external debt 36 21 14 29 14 9 15 6 IMF purchases 0 2 9 0 0 0 0 6 Principal repayments 2 9 3 7 4 13 13 13 Long-term external debt 2 8 3 2 1 9 9 11 IMF repurchases 0 1 0 5 3 4 3 2 Net flows 46 13 29 21 9 -6 3 -1 Long-term external debt 34 13 11 27 13 0 6 -5 Short-term external debt 12 -1 10 -1 -1 -2 0 0 Interest payments 6 6 2 2 2 3 3 4 Long-term external debt 3 6 2 2 2 3 3 4 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 3 0 0 0 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 2 0 1 2 9 18 19 15 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 60 54 50 47 48 71 103 113 of which: Debt forgiveness grants .. .. 4 6 6 7 6 7 IDA grants .. .. .. 0 2 2 3 13 Memo: technical coop. grants 21 47 13 15 15 15 15 24 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.0 10.2 10.4 11.1 10.6 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 8.5 6.6 11.0 13.3 12.2 4.8 4.9 5.2 U.S.dollars 27.6 38.3 34.0 46.0 48.4 55.4 54.2 54.2 4. Average terms of new commitments Official creditors Interest (%) 2.2 0.8 0.9 0.8 0.8 0.0 0.0 0.0 Maturity (years) 28.1 39.8 37.9 39.7 39.9 0.0 0.0 0.0 Grace period (years) 10.4 10.3 10.1 10.2 10.4 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 233 236 203 274 290 308 374 422 Exports of goods, services & income 27 30 .. 112 .. .. .. .. Worker remit. & comp. of employees 1 .. 2 28 28 28 29 30 Imports of goods & services 110 110 .. 138 .. .. .. .. International reserves 18 20 67 73 80 82 113 124 Current account balance -45 -35 .. 14 .. .. .. .. 6. Ratios External debt stocks to exports (%) 2,562.8 3,024.9 .. 989.6 .. .. .. .. External debt stocks to GNI (%) 297.7 379.4 466.5 404.0 360.2 356.6 309.6 274.1 Debt service to exports (%) 31.1 52.4 .. 8.8 .. .. .. .. Short-term to external debt stocks (%) 8.1 10.6 10.6 10.9 11.6 11.5 12.3 12.5 Multilateral to external debt stocks (%) 39.4 41.3 41.9 44.2 43.8 43.8 44.1 43.9 Reserves to external debt stocks (%) 2.6 2.3 7.0 6.6 7.6 7.5 9.7 10.8 Reserves to imports (months) 2.0 2.2 .. 6.3 .. .. .. .. 140 GUINEA-BISSAU 7. Long-term external debt Debt outstanding and disbursed 633 794 822 969 912 963 1,010 1,004 Public and publicly guaranteed 633 794 822 969 912 963 1,010 1,004 Official creditors 600 763 822 969 912 963 1,010 1,004 Multilateral 273 370 397 489 457 481 511 508 of which: IBRD 0 0 0 0 0 0 0 0 IDA 145 210 228 301 284 297 315 309 Bilateral 326 393 425 480 455 482 499 496 Private creditors 33 31 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 36 21 14 29 14 9 15 6 Public and publicly guaranteed 36 21 14 29 14 9 15 6 Official creditors 36 21 14 29 14 9 15 6 Multilateral 30 19 14 29 14 9 15 6 of which: IBRD 0 0 0 0 0 0 0 0 IDA 15 9 14 25 11 5 11 4 Bilateral 6 2 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 2 8 3 2 1 9 9 11 Public and publicly guaranteed 2 8 3 2 1 9 9 11 Official creditors 2 8 2 2 1 9 9 11 Multilateral 1 8 2 2 1 9 9 11 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 1 2 0 0 6 6 8 Bilateral 1 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 3 6 2 2 2 3 3 4 Public and publicly guaranteed 3 6 2 2 2 3 3 4 Official creditors 3 6 2 2 2 3 3 4 Multilateral 3 4 2 2 2 3 3 4 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 2 2 2 1 2 2 3 Bilateral 1 1 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 99 45 9 44 -61 54 60 -1 Net flows on external debt 46 13 29 21 9 -6 3 -1 Cross-currency valuation 35 11 -20 28 -62 32 29 8 9. Debt restructurings Total amount rescheduled 16 14 0 0 0 0 0 0 Total amount forgiven 5 15 1 166 9 0 6 10 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 31 31 29 28 20 21 21 22 Interest 8 7 7 7 6 6 6 6 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt are revised from 2001 based on reports provided by the country. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $5,787 in thousands and $7,311 in thousands respectively. 141 GUYANA 1. Summary external debt data External debt stocks 1960.2 2116.1 1364.5 1362.7 1215.9 1141.2 735.6 815.5 Long-term external debt 1772.6 1794.4 1127.8 1143.5 1043.0 923.3 583.9 662.6 Public and publicly guaranteed 1772.6 1794.4 1123.8 1141.2 1041.2 923.3 583.9 662.6 Private nonguaranteed 0.0 0.0 4.1 2.3 1.8 0.0 0.0 0.0 Use of IMF credit 112.9 171.8 117.4 88.1 90.9 55.8 58.6 57.1 Short-term external debt 74.7 149.9 119.2 131.2 82.0 162.1 93.1 95.8 interest arrears on long-term 62.7 133.4 67.4 100.2 82.0 86.1 93.1 95.8 Memorandum items 183.9 114.5 65.3 70.1 65.9 75.6 75.1 62.2 1772.6 1794.4 1123.8 1141.2 1041.2 923.3 583.9 662.6 0.0 0.0 4.1 2.3 1.8 0.0 0.0 0.0 282.3 44.6 84.9 84.0 166.1 4.2 144.2 122.6 External debt flows Disbursements 263.9 58.8 73.4 82.8 131.1 136.5 100.6 138.6 Long-term external debt 159.5 45.2 64.2 73.9 103.7 109.2 100.6 138.6 IMF purchases 104.4 13.6 9.2 8.8 27.4 27.3 0.0 0.0 Principal repayments 175.1 74.1 39.4 33.5 23.6 16.5 15.8 16.1 Long-term external debt 68.6 50.5 22.8 27.3 15.8 16.5 15.8 16.1 IMF repurchases 106.5 23.7 16.6 6.1 7.8 0.0 0.0 0.0 Net flows 255.6 -7.9 20.6 53.3 76.5 196.0 8.8 122.5 Long-term external debt 90.9 -5.3 41.4 46.6 87.9 92.7 84.8 122.5 Short-term external debt 166.8 7.4 -13.5 4.0 -31.0 76.0 -76.0 0.0 Interest payments 120.3 34.9 29.7 14.3 10.6 16.2 11.5 10.6 Long-term external debt 73.3 31.3 26.2 13.3 10.0 14.5 9.2 10.3 IMF charges 39.6 2.8 0.6 0.5 0.0 0.2 0.3 0.3 Short-term external debt 7.4 0.8 2.9 0.6 0.6 1.5 2.1 0.0 2. Other non-debt resource flows Foreign direct investment (net) 7.9 74.4 67.1 30.0 76.8 102.4 152.4 168.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 0.0 6.0 2.7 6.9 9.2 -7.2 0.4 Grants (excluding technical coop.) 74.0 21.1 47.2 87.5 91.7 339.9 481.3 112.2 of which: Debt forgiveness grants .. .. 30.9 41.2 46.3 289.8 413.7 0.0 IDA grants .. .. .. 0.0 0.5 12.0 2.1 5.7 Memo: technical coop. grants 8.9 16.0 17.6 24.7 29.4 35.0 9.3 10.8 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.3 2.1 2.7 4.6 3.5 Japanese yen 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 10.4 9.1 5.6 0.9 0.2 0.2 0.1 0.1 Swiss franc 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 68.0 64.9 69.3 73.5 74.3 70.7 86.5 88.6 4. Average terms of new commitments Official creditors Interest (%) 1.3 1.5 2.0 1.4 1.3 1.9 1.0 1.6 Maturity (years) 39.7 38.7 40.0 33.8 30.5 29.8 36.6 28.4 Grace period (years) 9.9 10.4 10.5 8.7 9.2 7.6 9.0 4.1 Private creditors Interest (%) 0.0 8.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 31.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 275.1 567.2 660.6 675.8 745.5 880.6 1043.0 1143.5 Exports of goods, services & income .. 641.4 711.2 901.9 898.0 948.1 1167.8 1309.1 Worker remit. & comp. of employees .. 2.0 27.0 153.0 201.3 218.1 282.7 278.4 Imports of goods & services .. 838.2 813.1 842.8 960.3 1127.0 1288.4 1555.7 International reserves 28.7 268.9 305.0 231.8 251.9 279.6 313.0 355.9 Current account balance .. -134.8 -82.2 -19.9 -96.3 -180.6 -112.3 -191.6 6. Ratios External debt stocks to exports (%) .. 329.9 191.9 151.1 135.4 120.4 63.0 62.3 External debt stocks to GNI (%) 712.5 373.1 206.6 201.7 163.1 129.6 70.5 71.3 Debt service to exports (%) .. 17.0 9.7 5.3 3.8 3.4 2.3 2.0 Short-term to external debt stocks (%) 3.8 7.1 8.7 9.6 6.7 14.2 12.7 11.7 Multilateral to external debt stocks (%) 23.9 30.2 43.9 62.5 69.9 63.1 49.8 46.7 Reserves to external debt stocks (%) 1.5 12.7 22.3 17.0 20.7 24.5 42.6 43.6 Reserves to imports (months) .. 3.9 4.5 3.3 3.1 3.0 2.9 2.7 142 GUYANA 7. Long-term external debt Debt outstanding and disbursed 1772.6 1794.4 1127.8 1143.5 1043.0 923.3 583.9 662.6 Public and publicly guaranteed 1772.6 1794.4 1123.8 1141.2 1041.2 923.3 583.9 662.6 Official creditors 1601.1 1708.6 1078.9 1123.6 1032.2 914.4 575.1 654.1 Multilateral 467.5 638.9 599.4 851.9 850.4 720.0 366.5 380.8 of which: IBRD 59.4 35.1 8.3 0.0 0.0 0.0 0.0 0.0 IDA 92.6 203.4 179.6 246.4 226.4 9.2 10.0 9.8 Bilateral 1133.6 1069.8 479.6 271.7 181.7 194.5 208.6 273.3 Private creditors 171.5 85.8 44.8 17.6 9.1 8.8 8.8 8.6 of which: Bonds 0.0 28.9 27.2 0.2 0.2 0.0 0.0 0.0 Commercial banks 104.1 36.9 6.1 4.3 4.0 4.0 4.0 3.8 Private nonguaranteed 0.0 0.0 4.1 2.3 1.8 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 159.5 45.2 64.2 73.9 103.7 109.2 100.6 138.6 Public and publicly guaranteed 159.5 45.2 64.2 73.9 103.7 109.2 100.6 138.6 Official creditors 153.4 45.2 64.2 73.9 103.7 109.2 100.6 138.6 Multilateral 122.5 41.2 64.2 73.8 71.1 77.1 67.5 56.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 54.0 17.7 6.3 6.8 1.8 0.0 0.5 0.0 Bilateral 31.0 4.0 0.1 0.1 32.6 32.2 33.1 82.4 Private creditors 6.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 68.6 50.5 22.8 27.3 15.8 16.5 15.8 16.1 Public and publicly guaranteed 68.6 50.5 22.4 26.9 15.4 16.3 15.8 16.1 Official creditors 46.3 40.1 22.4 26.5 15.2 16.0 15.8 16.0 Multilateral 42.1 24.2 18.2 17.3 11.4 14.4 9.0 9.3 of which: IBRD 30.9 6.0 3.2 0.9 0.0 0.0 0.0 0.0 IDA 0.3 0.7 1.0 1.0 1.2 2.0 0.1 0.1 Bilateral 4.2 15.8 4.2 9.2 3.7 1.6 6.8 6.8 Private creditors 22.3 10.4 0.0 0.3 0.2 0.3 0.1 0.1 of which: Bonds 0.8 0.0 0.0 0.0 0.0 0.2 0.0 0.0 Commercial banks 7.5 2.4 0.0 0.3 0.2 0.1 0.1 0.1 Private nonguaranteed 0.0 0.0 0.4 0.5 0.5 0.2 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 73.3 31.3 26.2 13.3 10.0 14.5 9.2 10.3 Public and publicly guaranteed 73.3 31.3 26.0 13.1 9.9 14.4 9.2 10.3 Official creditors 64.1 29.8 25.7 13.1 9.9 14.4 9.1 10.3 Multilateral 57.7 17.5 10.1 10.2 9.5 11.7 6.5 7.5 of which: IBRD 31.0 3.2 0.9 0.0 0.0 0.0 0.0 0.0 IDA 0.3 1.4 1.2 1.7 1.7 0.9 0.1 0.1 Bilateral 6.4 12.3 15.6 2.9 0.4 2.7 2.7 2.8 Private creditors 9.2 1.5 0.3 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.1 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 4.9 0.9 0.3 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.2 0.2 0.1 0.1 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 303.3 66.7 -48.2 -69.7 -146.8 -74.8 -405.6 79.9 Net flows on external debt 255.6 -7.9 20.6 53.3 76.5 196.0 8.8 122.5 Cross-currency valuation 43.5 -44.4 -60.6 23.9 -39.3 -210.1 11.9 -1.6 9. Debt restructurings Total amount rescheduled 473.7 1.1 0.0 1.5 78.7 0.0 0.0 0.0 Total amount forgiven 32.2 0.0 5.6 126.9 165.0 231.8 429.0 12.5 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 15.6 19.5 23.2 24.6 27.1 30.0 32.8 32.6 Interest 11.4 11.9 12.5 12.4 12.1 11.6 11.0 10.3 Private creditors Principal 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Guyana was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. In 2006 Bonds totaling $28.8 million were transferred to domestic debt in 2004. 143 HAITI 1. Summary external debt data External debt stocks 917 821 1,173 1,311 1,327 1,505 1,580 1,935 Long-term external debt 778 766 1,043 1,225 1,278 1,346 1,525 1,830 Public and publicly guaranteed 778 766 1,043 1,225 1,278 1,346 1,525 1,830 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 38 29 39 11 21 32 56 105 Short-term external debt 101 27 90 75 28 126 0 0 interest arrears on long-term 24 1 1 28 15 18 0 0 Memorandum items 43 2 2 55 22 27 0 0 804 790 1,063 1,225 1,293 1,376 1,525 1,830 0 0 0 0 0 0 0 0 102 254 0 70 233 0 116 167 External debt flows Disbursements 44 128 51 22 93 98 151 388 Long-term external debt 38 103 51 22 77 83 97 338 IMF purchases 5 25 0 0 15 15 54 50 Principal repayments 21 66 24 66 38 39 64 22 Long-term external debt 8 34 18 58 34 35 31 22 IMF repurchases 12 32 6 7 5 4 33 0 Net flows 39 75 21 -92 21 154 -22 366 Long-term external debt 30 70 33 -36 44 49 66 316 Short-term external debt 16 13 -6 -49 -34 95 -108 0 Interest payments 15 32 20 34 19 21 26 20 Long-term external debt 6 25 15 32 17 17 22 20 IMF charges 3 5 1 0 0 1 1 0 Short-term external debt 7 2 5 2 1 3 3 0 2. Other non-debt resource flows Foreign direct investment (net) 8 7 13 6 26 161 75 30 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 4 0 0 0 0 0 0 Grants (excluding technical coop.) 65 512 91 204 271 304 547 631 of which: Debt forgiveness grants .. .. 2 1 1 1 38 4 IDA grants .. .. .. 0 23 10 30 24 Memo: technical coop. grants 66 112 91 87 125 192 63 141 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.4 3.4 3.6 5.7 5.0 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 71.0 77.5 82.1 81.9 80.4 81.3 80.9 83.9 4. Average terms of new commitments Official creditors Interest (%) 1.4 1.2 0.0 1.0 1.0 0.0 1.0 1.0 Maturity (years) 38.9 39.9 0.0 40.0 40.0 0.0 39.8 25.0 Grace period (years) 10.4 10.4 0.0 10.5 10.5 0.0 10.3 3.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 3.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 26.3 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 5.3 0.0 5. Major economic aggregates Gross national income (GNI) 2,836 2,919 3,863 3,918 4,385 4,960 6,126 6,965 Exports of goods, services & income 325 192 1,082 1,450 1,591 1,771 2,026 2,231 Worker remit. & comp. of employees 61 109 578 932 985 1,063 1,222 1,300 Imports of goods & services 540 832 1,378 1,574 1,888 2,154 2,308 2,886 International reserves 10 199 183 115 134 254 453 543 Current account balance -22 -87 -114 -63 7 -85 14 -299 6. Ratios External debt stocks to exports (%) 282.2 426.8 108.4 90.4 83.4 85.0 78.0 86.7 External debt stocks to GNI (%) 32.3 28.1 30.4 33.5 30.3 30.3 25.8 27.8 Debt service to exports (%) 11.1 51.0 4.1 6.9 3.6 3.4 4.5 1.9 Short-term to external debt stocks (%) 11.0 3.2 7.7 5.7 2.1 8.4 0.0 0.0 Multilateral to external debt stocks (%) 54.0 74.9 77.3 78.0 81.1 76.0 79.0 68.7 Reserves to external debt stocks (%) 1.1 24.2 15.6 8.8 10.1 16.9 28.7 28.0 Reserves to imports (months) 0.2 2.9 1.6 0.9 0.9 1.4 2.4 2.3 144 HAITI 7. Long-term external debt Debt outstanding and disbursed 778 766 1,043 1,225 1,278 1,346 1,525 1,830 Public and publicly guaranteed 778 766 1,043 1,225 1,278 1,346 1,525 1,830 Official creditors 732 766 1,043 1,225 1,278 1,346 1,525 1,780 Multilateral 495 615 907 1,022 1,076 1,144 1,248 1,329 of which: IBRD 0 0 0 0 0 0 0 0 IDA 324 389 480 504 505 511 518 507 Bilateral 236 150 136 203 202 202 276 452 Private creditors 47 0 0 0 0 0 0 50 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 47 0 0 0 0 0 0 50 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 38 103 51 22 77 83 97 338 Public and publicly guaranteed 38 103 51 22 77 83 97 338 Official creditors 38 103 51 22 77 83 97 288 Multilateral 27 103 51 22 77 83 97 121 of which: IBRD 0 0 0 0 0 0 0 0 IDA 14 49 8 0 9 9 0 0 Bilateral 11 1 0 0 0 0 0 167 Private creditors 0 0 0 0 0 0 0 50 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 50 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 8 34 18 58 34 35 31 22 Public and publicly guaranteed 8 34 18 58 34 35 31 22 Official creditors 8 34 18 58 34 35 31 22 Multilateral 5 30 14 55 29 32 26 17 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 10 7 40 14 14 15 4 Bilateral 3 3 4 4 5 3 5 5 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 6 25 15 32 17 17 22 20 Public and publicly guaranteed 6 25 15 32 17 17 22 20 Official creditors 6 25 15 32 17 17 22 19 Multilateral 5 24 9 28 15 16 17 16 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 10 4 16 5 4 4 1 Bilateral 1 1 5 4 2 2 5 3 Private creditors 0 0 0 0 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 1 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 81 86 -16 -34 16 178 75 355 Net flows on external debt 39 75 21 -92 21 154 -22 366 Cross-currency valuation 23 -10 -33 31 5 14 31 -7 9. Debt restructurings Total amount rescheduled 0 108 0 0 0 0 93 12 Total amount forgiven 0 11 0 0 0 0 32 18 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 55 57 64 65 65 68 72 81 Interest 27 26 26 25 24 23 22 21 Private creditors Principal 0 0 0 0 2 2 2 2 Interest 2 2 2 2 1 1 1 1 Notes: Haiti received debt relief under HIPC in 2007. Data include the effects of Paris Club debt restructuring agreement signed in December 2006. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $8,148 in thousands and $814 in thousands respectively. 145 HONDURAS 1. Summary external debt data External debt stocks 3,718 4,851 5,402 6,064 5,226 4,205 3,306 3,430 Long-term external debt 3,487 4,370 4,813 5,446 4,645 3,665 2,613 2,880 Public and publicly guaranteed 3,420 4,247 4,253 4,878 4,136 3,030 1,989 2,291 Private nonguaranteed 66 123 560 568 509 635 624 590 Use of IMF credit 32 99 216 195 168 31 32 31 Short-term external debt 199 382 374 423 412 510 662 518 interest arrears on long-term 89 63 35 53 12 9 9 4 Memorandum items 190 197 72 223 48 47 43 36 3,313 4,223 4,233 4,878 4,136 3,030 1,989 2,291 173 147 580 568 509 635 624 590 452 358 174 409 364 196 269 535 External debt flows Disbursements 457 379 368 672 496 356 384 652 Long-term external debt 429 349 347 642 480 341 384 652 IMF purchases 29 31 21 30 15 15 0 0 Principal repayments 211 352 261 209 280 208 235 276 Long-term external debt 176 308 256 199 264 208 235 276 IMF repurchases 35 44 5 9 15 0 0 0 Net flows 129 90 44 461 246 249 301 237 Long-term external debt 252 40 90 442 216 133 149 376 Short-term external debt -117 62 -63 -2 30 101 152 -139 Interest payments 178 226 131 112 105 132 114 91 Long-term external debt 157 203 107 98 83 102 81 76 IMF charges 6 5 4 1 1 0 0 0 Short-term external debt 15 18 20 13 21 29 33 14 2. Other non-debt resource flows Foreign direct investment (net) 44 50 282 547 600 669 929 877 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 72 40 160 390 479 621 535 411 Grants (excluding technical coop.) 211 123 186 252 968 1,597 1,469 416 of which: Debt forgiveness grants .. .. 32 82 766 1,420 1,241 67 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 93 85 122 110 105 89 54 80 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.9 5.7 4.9 8.8 9.3 Japanese yen 8.4 9.2 7.9 8.5 0.5 0.0 0.0 0.1 Pound sterling 0.9 0.6 0.4 0.0 0.0 0.0 0.0 0.0 Swiss franc 2.1 1.4 0.9 0.1 0.1 0.2 0.2 0.2 U.S.dollars 45.2 48.9 65.7 65.8 72.5 65.8 68.0 69.1 4. Average terms of new commitments Official creditors Interest (%) 6.1 2.3 1.5 1.3 1.3 1.7 1.8 2.8 Maturity (years) 22.7 29.5 39.7 35.9 26.3 29.3 27.0 24.3 Grace period (years) 6.5 7.2 10.2 9.5 9.3 8.7 8.5 5.4 Private creditors Interest (%) 9.9 8.4 4.1 0.0 1.7 0.0 0.0 0.0 Maturity (years) 7.1 28.6 7.6 0.0 50.0 0.0 0.0 0.0 Grace period (years) 0.6 1.1 3.1 0.0 10.5 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,797 3,649 6,951 8,327 9,211 10,216 11,635 13,744 Exports of goods, services & income 1,103 1,787 4,443 6,404 7,668 8,408 9,130 .. Worker remit. & comp. of employees 63 124 416 1,175 1,821 2,391 2,625 2,824 Imports of goods & services 1,384 2,111 5,047 7,215 8,092 9,040 10,416 .. International reserves 47 270 1,319 1,980 2,338 2,642 2,546 .. Current account balance -51 -201 -508 -683 -304 -510 -1,225 .. 6. Ratios External debt stocks to exports (%) 337.0 271.4 121.6 94.7 68.1 50.0 36.2 .. External debt stocks to GNI (%) 132.9 132.9 77.7 72.8 56.7 41.2 28.4 25.0 Debt service to exports (%) 35.3 32.3 8.8 5.0 5.0 4.0 3.8 .. Short-term to external debt stocks (%) 5.4 7.9 6.9 7.0 7.9 12.1 20.0 15.1 Multilateral to external debt stocks (%) 42.5 44.4 50.5 53.1 60.9 54.3 38.4 41.6 Reserves to external debt stocks (%) 1.3 5.6 24.4 32.6 44.7 62.8 77.0 .. Reserves to imports (months) 0.4 1.5 3.1 3.3 3.5 3.5 2.9 .. 146 HONDURAS 7. Long-term external debt Debt outstanding and disbursed 3,487 4,370 4,813 5,446 4,645 3,665 2,613 2,880 Public and publicly guaranteed 3,420 4,247 4,253 4,878 4,136 3,030 1,989 2,291 Official creditors 2,978 3,882 4,150 4,797 4,082 2,977 1,951 2,255 Multilateral 1,581 2,153 2,728 3,218 3,183 2,282 1,271 1,428 of which: IBRD 558 443 151 70 0 0 0 0 IDA 77 386 838 1,310 1,353 349 401 449 Bilateral 1,396 1,729 1,423 1,579 899 696 680 826 Private creditors 442 364 102 81 55 52 38 36 of which: Bonds 0 139 0 0 0 0 0 0 Commercial banks 204 82 46 42 44 43 27 25 Private nonguaranteed 66 123 560 568 509 635 624 590 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 429 349 347 642 480 341 384 652 Public and publicly guaranteed 421 287 163 401 301 209 229 434 Official creditors 364 258 159 386 297 209 228 433 Multilateral 190 209 120 296 253 185 150 195 of which: IBRD 82 7 0 0 0 0 0 0 IDA 0 77 38 125 151 58 46 51 Bilateral 174 49 38 91 44 24 77 237 Private creditors 57 29 4 15 4 0 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 22 3 1 15 4 0 0 0 Private nonguaranteed 8 62 184 240 179 133 155 219 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 176 308 256 199 264 208 235 276 Public and publicly guaranteed 151 270 90 111 138 96 106 53 Official creditors 143 243 89 110 138 92 104 51 Multilateral 137 158 86 86 122 54 38 33 of which: IBRD 94 58 27 15 70 0 0 0 IDA 2 2 2 12 8 8 0 0 Bilateral 6 84 3 24 15 39 66 18 Private creditors 8 27 1 1 1 3 2 1 of which: Bonds 0 13 0 0 0 0 0 0 Commercial banks 4 6 1 1 1 1 1 1 Private nonguaranteed 25 39 166 89 126 112 130 223 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 157 203 107 98 83 102 81 76 Public and publicly guaranteed 155 199 75 87 63 65 53 49 Official creditors 150 179 75 87 63 65 53 49 Multilateral 141 103 66 60 50 46 35 35 of which: IBRD 96 38 15 5 3 0 0 0 IDA 1 3 6 9 10 7 3 3 Bilateral 8 75 9 27 13 19 18 14 Private creditors 6 20 0 0 0 0 0 0 of which: Bonds 0 7 0 0 0 0 0 0 Commercial banks 5 5 0 0 0 0 0 0 Private nonguaranteed 1 5 31 11 20 37 28 27 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 332 125 39 583 -838 -1,020 -899 123 Net flows on external debt 129 90 44 461 246 249 301 237 Cross-currency valuation 48 -74 -143 103 -230 -1,100 -17 -12 9. Debt restructurings Total amount rescheduled 308 25 413 79 58 10 31 0 Total amount forgiven 61 10 19 75 767 1,361 1,193 70 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 88 87 85 86 101 98 102 101 Interest 63 66 66 65 64 62 60 58 Private creditors Principal 164 115 103 61 49 37 31 25 Interest 22 16 11 8 6 4 3 1 Notes: Data for 2007 include the effects of Multilateral Debt Relief Initiative, in the amount of $8,697 in thousands. Data include the effects of Paris Club debt restructuring agreement signed in 2005. 147 INDIA 1. Summary external debt data External debt stocks 85,661 95,174 100,243 122,588 120,224 143,402 204,992 230,611 Long-term external debt 74,346 87,709 96,781 115,724 111,408 133,387 166,763 185,365 Public and publicly guaranteed 72,858 81,091 81,195 64,881 54,728 60,027 69,782 78,733 Private nonguaranteed 1,488 6,618 15,586 50,843 56,680 73,361 96,980 106,632 Use of IMF credit 2,771 2,416 0 0 0 0 0 0 Short-term external debt 8,544 5,049 3,462 6,864 8,816 10,015 38,229 45,246 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 72,317 80,631 80,709 64,551 54,600 59,918 69,687 78,576 2,029 7,078 16,072 51,173 56,808 73,470 97,076 106,789 8,606 4,914 10,707 2,953 2,741 4,042 14,945 4,604 External debt flows Disbursements 8,255 7,147 10,556 16,415 19,381 32,427 64,464 38,991 Long-term external debt 6,533 7,147 10,556 16,415 19,381 32,427 64,464 38,991 IMF purchases 1,723 0 0 0 0 0 0 0 Principal repayments 3,345 8,676 6,728 13,062 19,384 12,412 32,101 23,670 Long-term external debt 2,633 6,949 6,702 13,062 19,384 12,412 32,101 23,670 IMF repurchases 713 1,727 25 0 0 0 0 0 Net flows 5,953 -745 3,358 3,889 1,949 21,214 60,577 22,338 Long-term external debt 3,900 197 3,854 3,352 -3 20,015 32,363 15,321 Short-term external debt 1,043 785 -471 537 1,952 1,199 28,214 7,017 Interest payments 4,796 4,931 4,193 4,424 4,509 4,994 6,935 7,406 Long-term external debt 3,766 4,363 4,007 4,226 4,196 4,523 5,487 5,736 IMF charges 131 183 1 0 0 0 0 0 Short-term external debt 899 385 185 198 314 471 1,447 1,670 2. Other non-debt resource flows Foreign direct investment (net) 237 2,144 3,584 5,771 7,606 20,336 25,127 41,169 Portfolio equity flows 0 1,591 2,345 9,054 12,151 9,509 34,986 -15,030 Profit remittances on FDI 0 0 0 3,479 5,244 7,738 10,526 10,141 Grants (excluding technical coop.) 512 565 460 893 1,084 891 1,145 1,169 of which: Debt forgiveness grants .. .. 1 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 341 437 287 387 352 358 276 276 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.8 7.4 7.0 6.3 5.1 Japanese yen 9.9 15.1 12.6 18.9 20.0 20.3 19.1 22.2 Pound sterling 6.1 4.7 3.8 3.8 3.7 3.1 2.5 2.0 Swiss franc 0.7 0.9 0.3 0.4 0.3 0.3 0.2 0.2 U.S.dollars 59.6 52.0 66.3 66.9 65.6 66.2 67.4 64.8 4. Average terms of new commitments Official creditors Interest (%) 3.9 3.5 5.5 2.1 3.0 3.0 4.6 1.3 Maturity (years) 28.7 26.7 24.0 26.5 25.2 28.1 21.4 26.9 Grace period (years) 8.4 8.3 6.6 6.8 7.0 5.1 5.3 6.1 Private creditors Interest (%) 6.8 5.7 4.3 2.7 4.6 2.1 6.2 0.0 Maturity (years) 15.0 5.9 5.1 4.0 3.5 3.8 9.4 0.0 Grace period (years) 7.3 4.8 4.8 2.0 3.5 2.7 2.8 0.0 5. Major economic aggregates Gross national income (GNI) 313,262 352,268 455,206 695,941 804,253 908,294 1,171,444 1,212,608 Exports of goods, services & income 25,699 45,638 75,191 139,307 182,207 229,722 285,698 355,595 Worker remit. & comp. of employees 2,384 6,223 12,890 18,750 22,125 28,334 37,217 49,941 Imports of goods & services 33,220 53,444 80,489 139,922 194,274 239,713 297,356 390,745 International reserves 5,637 22,865 41,059 131,631 137,825 178,050 276,578 257,423 Current account balance -7,036 -5,563 -4,601 780 -10,284 -9,299 -11,284 -36,088 6. Ratios External debt stocks to exports (%) 333.3 208.5 133.3 88.0 66.0 62.4 71.8 64.9 External debt stocks to GNI (%) 27.3 27.0 22.0 17.6 14.9 15.8 17.5 19.0 Debt service to exports (%) 31.7 29.8 14.5 12.6 13.1 7.6 13.7 8.7 Short-term to external debt stocks (%) 10.0 5.3 3.5 5.6 7.3 7.0 18.6 19.6 Multilateral to external debt stocks (%) 25.8 31.6 30.4 25.6 26.2 24.0 18.3 17.5 Reserves to external debt stocks (%) 6.6 24.0 41.0 107.4 114.6 124.2 134.9 111.6 Reserves to imports (months) 2.0 5.1 6.1 11.3 8.5 8.9 11.2 7.9 148 INDIA 7. Long-term external debt Debt outstanding and disbursed 74,346 87,709 96,781 115,724 111,408 133,387 166,763 185,365 Public and publicly guaranteed 72,858 81,091 81,195 64,881 54,728 60,027 69,782 78,733 Official creditors 49,800 57,595 51,633 52,691 49,994 52,858 57,529 63,470 Multilateral 22,096 30,052 30,474 31,339 31,450 34,410 37,587 40,429 of which: IBRD 7,685 9,849 7,078 4,662 5,276 6,007 6,680 7,429 IDA 13,622 17,499 18,888 23,717 22,728 24,433 25,378 25,419 Bilateral 27,704 27,543 21,159 21,352 18,543 18,448 19,942 23,042 Private creditors 23,058 23,496 29,562 12,190 4,734 7,168 12,253 15,263 of which: Bonds 2,785 3,324 10,240 8,314 1,360 2,213 4,364 6,451 Commercial banks 16,246 13,465 18,166 3,575 3,214 4,817 7,510 8,398 Private nonguaranteed 1,488 6,618 15,586 50,843 56,680 73,361 96,980 106,632 of which: Bonds 0 1,020 1,515 2,959 5,761 10,254 15,327 14,763 Disbursements 6,533 7,147 10,556 16,415 19,381 32,427 64,464 38,991 Public and publicly guaranteed 6,319 5,968 10,256 8,295 6,630 8,361 15,978 19,103 Official creditors 3,532 2,842 3,260 3,627 3,825 3,713 4,950 6,521 Multilateral 2,197 1,942 2,371 2,511 2,811 2,732 3,482 4,340 of which: IBRD 1,219 589 706 1,004 863 979 1,003 1,122 IDA 749 729 1,054 1,093 1,290 1,005 802 961 Bilateral 1,335 900 888 1,116 1,013 981 1,467 2,182 Private creditors 2,786 3,125 6,996 4,668 2,805 4,648 11,029 12,582 of which: Bonds 416 85 5,520 3,815 1,714 2,452 7,089 11,507 Commercial banks 1,982 1,719 878 853 1,091 2,196 3,687 1,075 Private nonguaranteed 214 1,179 300 8,119 12,751 24,066 48,486 19,888 of which: Bonds 0 520 0 2,064 2,920 4,549 7,793 594 Principal repayments 2,633 6,949 6,702 13,062 19,384 12,412 32,101 23,670 Public and publicly guaranteed 2,314 6,793 6,454 7,913 12,469 4,796 8,847 13,433 Official creditors 1,227 3,885 3,493 4,126 2,689 2,588 2,384 2,982 Multilateral 609 1,513 1,740 2,124 951 1,155 1,204 1,352 of which: IBRD 472 943 994 255 210 259 346 390 IDA 114 226 367 562 607 653 704 769 Bilateral 618 2,372 1,754 2,002 1,738 1,433 1,180 1,631 Private creditors 1,088 2,908 2,960 3,787 9,781 2,208 6,462 10,450 of which: Bonds 279 320 0 2,307 8,457 1,597 5,313 9,468 Commercial banks 248 1,807 2,737 1,216 1,201 589 1,130 963 Private nonguaranteed 318 156 249 5,149 6,914 7,617 23,255 10,238 of which: Bonds 0 0 35 83 117 57 409 880 Interest payments 3,766 4,363 4,007 4,226 4,196 4,523 5,487 5,736 Public and publicly guaranteed 3,631 3,832 3,378 1,384 3,022 1,291 1,449 1,542 Official creditors 1,489 1,872 1,430 908 1,059 1,074 1,170 1,202 Multilateral 737 1,061 835 362 458 648 782 789 of which: IBRD 615 770 428 89 159 280 356 313 IDA 96 131 139 187 187 185 190 201 Bilateral 752 811 596 547 601 426 388 413 Private creditors 2,142 1,960 1,947 476 1,963 217 279 340 of which: Bonds 180 187 143 315 1,799 40 41 41 Commercial banks 1,748 1,265 1,742 150 155 172 228 284 Private nonguaranteed 135 531 630 2,842 1,174 3,233 4,038 4,194 of which: Bonds 0 56 224 85 141 217 330 278 8. Debt stock-flow reconciliation Total change in external debt stocks 9,720 -4,435 1,115 4,715 -2,364 23,178 61,589 25,619 Net flows on external debt 5,953 -745 3,358 3,889 1,949 21,214 60,577 22,338 Cross-currency valuation 503 -4,257 -4,251 928 -4,491 1,772 1,694 2,996 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 4,264 4,737 4,968 5,189 5,444 5,561 5,510 5,394 Interest 1,425 1,485 1,456 1,382 1,287 1,175 1,058 941 Private creditors Principal 36,678 23,629 19,244 12,152 14,110 6,698 5,409 5,444 Interest 5,565 4,240 3,308 2,618 2,146 1,476 1,201 939 Notes: Data for 2003-2008 are reported on calendar year basis. Data prior to 2003 are mechanically adjusted from fiscal year to calendar year. PPG bonds include Foreign Institutional Investor debt (FII) as reported by the Bank of India. Short-term debt is based on reports provided by the country. 149 INDONESIA 1. Summary external debt data External debt stocks 69,872 124,413 143,358 137,092 146,266 132,512 142,638 150,851 Long-term external debt 58,242 98,446 110,832 105,382 121,286 111,965 115,182 124,286 Public and publicly guaranteed 47,982 65,323 69,663 71,835 71,747 67,143 68,799 76,904 Private nonguaranteed 10,261 33,123 41,169 33,546 49,539 44,822 46,384 47,383 Use of IMF credit 494 0 10,838 9,686 7,807 0 0 0 Short-term external debt 11,135 25,966 21,688 22,024 17,173 20,547 27,456 26,565 interest arrears on long-term 0 0 4,632 7,400 0 0 0 0 Memorandum items 1 0 3,000 10,362 148 0 0 0 47,982 65,323 69,563 71,168 70,763 66,116 67,761 75,923 10,261 33,123 41,269 34,214 50,523 45,850 47,421 48,363 6,854 11,003 2,221 4,923 4,534 4,685 5,553 9,061 External debt flows Disbursements 10,024 13,633 6,773 9,943 14,040 17,042 17,389 22,546 Long-term external debt 10,024 13,633 5,651 9,943 14,040 17,042 17,389 22,546 IMF purchases 0 0 1,123 0 0 0 0 0 Principal repayments 5,969 10,200 9,269 15,624 12,418 23,979 16,680 16,573 Long-term external debt 5,812 10,200 9,269 14,619 11,274 15,942 16,680 16,573 IMF repurchases 157 0 0 1,005 1,145 8,037 0 0 Net flows 7,216 9,943 -1,969 -3,131 4,170 -3,563 7,618 5,082 Long-term external debt 4,213 3,434 -3,618 -4,676 2,766 1,100 709 5,973 Short-term external debt 3,160 6,509 527 2,550 2,549 3,374 6,909 -891 Interest payments 3,978 6,221 7,356 4,900 4,134 4,500 6,125 5,577 Long-term external debt 3,413 4,937 5,674 3,914 2,963 3,180 4,752 4,249 IMF charges 59 0 526 255 313 292 0 0 Short-term external debt 506 1,284 1,157 731 859 1,027 1,373 1,328 2. Other non-debt resource flows Foreign direct investment (net) 1,093 4,346 -4,550 1,896 8,336 4,914 6,928 8,698 Portfolio equity flows 0 1,493 -1,021 2,043 -165 1,898 3,559 322 Profit remittances on FDI 2,192 718 3,574 8,323 9,525 9,637 10,813 10,790 Grants (excluding technical coop.) 283 250 367 338 1,024 1,003 991 837 of which: Debt forgiveness grants .. .. 47 0 10 53 39 15 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 401 494 418 428 454 555 524 515 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.7 13.7 15.0 15.2 11.8 Japanese yen 34.6 35.3 33.1 33.2 34.9 35.7 35.0 37.9 Pound sterling 1.4 0.8 1.2 2.0 2.3 2.1 1.9 1.1 Swiss franc 0.4 0.7 0.6 0.7 0.6 0.6 0.6 0.5 U.S.dollars 20.9 21.5 50.3 44.8 43.6 41.6 42.2 43.8 4. Average terms of new commitments Official creditors Interest (%) 5.5 5.1 2.9 2.6 3.9 3.9 3.0 2.2 Maturity (years) 23.1 21.4 24.5 22.4 23.5 25.8 24.0 21.2 Grace period (years) 6.5 5.8 6.8 6.3 6.1 6.7 6.7 7.2 Private creditors Interest (%) 7.3 6.8 6.6 5.4 6.9 7.2 6.3 7.0 Maturity (years) 17.1 12.3 7.7 10.1 14.6 21.0 27.6 18.5 Grace period (years) 3.9 3.8 4.4 6.6 12.9 18.5 27.0 17.9 5. Major economic aggregates Gross national income (GNI) 109,209 196,188 154,078 245,051 271,958 349,038 414,163 496,128 Exports of goods, services & income 29,870 54,880 74,269 86,508 107,556 123,195 139,974 165,062 Worker remit. & comp. of employees 166 651 1,190 1,866 5,420 5,722 6,174 6,795 Imports of goods & services 33,110 61,641 66,903 84,383 106,775 111,639 128,582 163,543 International reserves 8,657 14,908 29,353 36,311 34,731 42,597 56,936 51,641 Current account balance -2,988 -6,431 7,992 1,563 278 10,859 10,493 285 6. Ratios External debt stocks to exports (%) 233.9 226.7 193.0 158.5 136.0 107.6 101.9 91.4 External debt stocks to GNI (%) 64.0 63.4 93.0 55.9 53.8 38.0 34.4 30.4 Debt service to exports (%) 33.3 29.9 22.4 23.7 15.4 23.1 16.3 13.4 Short-term to external debt stocks (%) 15.9 20.9 15.1 16.1 11.7 15.5 19.2 17.6 Multilateral to external debt stocks (%) 20.4 16.1 13.9 14.0 12.7 13.8 13.0 13.2 Reserves to external debt stocks (%) 12.4 12.0 20.5 26.5 23.7 32.1 39.9 34.2 Reserves to imports (months) 3.1 2.9 5.3 5.2 3.9 4.6 5.3 3.8 150 INDONESIA 7. Long-term external debt Debt outstanding and disbursed 58,242 98,446 110,832 105,382 121,286 111,965 115,182 124,286 Public and publicly guaranteed 47,982 65,323 69,663 71,835 71,747 67,143 68,799 76,904 Official creditors 33,041 51,296 54,897 60,614 59,054 57,088 57,332 61,929 Multilateral 14,285 20,013 19,904 19,173 18,514 18,246 18,611 19,962 of which: IBRD 9,542 12,503 11,715 8,943 8,132 7,423 6,821 6,968 IDA 842 756 714 996 1,001 1,318 1,550 2,006 Bilateral 18,756 31,284 34,992 41,441 40,540 38,842 38,721 41,967 Private creditors 14,941 14,027 14,766 11,222 12,693 10,055 11,466 14,975 of which: Bonds 696 704 971 1,949 3,734 4,945 6,370 10,450 Commercial banks 8,614 7,178 10,489 7,244 7,407 4,166 4,286 3,847 Private nonguaranteed 10,261 33,123 41,169 33,546 49,539 44,822 46,384 47,383 of which: Bonds 120 3,420 6,337 4,374 6,275 8,948 10,366 9,895 Disbursements 10,024 13,633 5,651 9,943 14,040 17,042 17,389 22,546 Public and publicly guaranteed 5,009 6,670 3,301 3,112 5,012 5,691 5,149 8,679 Official creditors 4,000 4,254 3,038 1,876 2,578 3,226 3,383 4,565 Multilateral 1,794 1,777 1,750 1,156 1,667 1,876 2,134 2,842 of which: IBRD 987 1,045 1,051 537 585 696 767 1,398 IDA 0 0 59 122 67 315 219 494 Bilateral 2,206 2,477 1,287 721 911 1,350 1,249 1,723 Private creditors 1,009 2,416 263 1,236 2,434 2,465 1,766 4,115 of which: Bonds 0 605 0 920 2,095 1,930 1,425 3,790 Commercial banks 494 1,010 258 283 264 518 331 322 Private nonguaranteed 5,015 6,963 2,350 6,831 9,027 11,351 12,240 13,867 of which: Bonds 120 1,763 350 620 2,361 2,673 2,983 0 Principal repayments 5,812 10,200 9,269 14,619 11,274 15,942 16,680 16,573 Public and publicly guaranteed 4,588 5,717 3,869 7,519 5,292 6,441 5,931 6,351 Official creditors 1,586 3,128 1,587 4,553 3,164 5,181 5,232 5,683 Multilateral 677 1,289 1,116 1,894 1,957 1,976 1,971 1,920 of which: IBRD 551 955 761 1,363 1,390 1,403 1,369 1,252 IDA 11 20 26 27 27 27 27 27 Bilateral 909 1,840 471 2,658 1,207 3,205 3,261 3,763 Private creditors 3,001 2,589 2,282 2,966 2,129 1,260 699 668 of which: Bonds 94 0 0 0 310 169 0 0 Commercial banks 1,718 1,681 2,107 2,503 1,397 873 497 555 Private nonguaranteed 1,224 4,483 5,400 7,100 5,981 9,501 10,749 10,221 of which: Bonds 0 120 2,400 100 460 650 1,565 271 Interest payments 3,413 4,937 5,674 3,914 2,963 3,180 4,752 4,249 Public and publicly guaranteed 2,808 3,775 3,738 2,810 1,843 1,883 2,486 2,506 Official creditors 1,585 2,668 2,576 2,378 1,158 1,613 1,946 1,882 Multilateral 990 1,403 1,383 958 865 832 861 789 of which: IBRD 731 921 950 575 481 425 435 370 IDA 6 6 5 8 9 10 11 13 Bilateral 596 1,265 1,193 1,420 293 781 1,084 1,094 Private creditors 1,222 1,107 1,163 433 685 270 541 624 of which: Bonds 62 6 72 103 136 48 324 439 Commercial banks 699 676 871 236 486 151 181 156 Private nonguaranteed 605 1,161 1,935 1,103 1,120 1,298 2,266 1,743 of which: Bonds 0 139 735 413 593 716 932 867 8. Debt stock-flow reconciliation Total change in external debt stocks 10,470 16,577 -8,121 3,658 9,174 -13,754 10,126 8,213 Net flows on external debt 7,216 9,943 -1,969 -3,131 4,170 -3,563 7,618 5,082 Cross-currency valuation 3,078 -43 -4,592 1,977 -5,582 1,707 2,599 5,493 9. Debt restructurings Total amount rescheduled 0 0 2,461 0 2,608 0 0 0 Total amount forgiven 0 0 0 0 0 92 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 7,129 5,751 5,057 4,977 4,905 4,461 4,253 3,897 Interest 1,753 1,567 1,405 1,248 1,094 947 819 701 Private creditors Principal 9,171 8,195 11,204 4,551 4,065 3,765 2,200 2,835 Interest 2,845 2,808 2,446 1,998 1,816 1,502 1,197 1,111 Notes: Data on long-term private nonguaranteed debt might include short term debt data until 2005 and revised based on reports provided by the country from 2006. Data include the effects of a Tsunami-related Paris Club debt restructuring agreement signed in 2005. 151 IRAN, ISLAMIC REPUBLIC OF 1. Summary external debt data External debt stocks 9,020 21,565 7,718 20,924 21,867 19,376 21,069 13,937 Long-term external debt 1,797 15,116 4,710 9,988 10,509 11,117 11,169 8,902 Public and publicly guaranteed 1,797 15,116 4,710 9,988 10,509 11,117 11,169 8,902 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 7,224 6,449 3,008 10,936 11,358 8,259 9,900 5,035 interest arrears on long-term 456 6 0 0 0 0 0 0 Memorandum items 1,517 48 0 0 0 0 0 0 1,797 15,031 4,691 9,975 10,500 11,110 11,164 8,900 0 84 20 13 10 7 6 3 1,241 1,978 2,813 2,771 1,991 790 0 35 External debt flows Disbursements 139 979 1,469 2,202 2,750 1,724 1,106 963 Long-term external debt 139 979 1,469 2,202 2,750 1,724 1,106 963 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 225 4,120 2,344 1,432 1,715 1,716 1,987 2,173 Long-term external debt 225 4,120 2,344 1,432 1,715 1,716 1,987 2,173 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 2,480 -227 -1,484 4,480 1,456 -3,091 761 -6,075 Long-term external debt -86 -3,141 -875 770 1,034 8 -880 -1,210 Short-term external debt 2,566 2,914 -609 3,710 422 -3,099 1,641 -4,865 Interest payments 430 1,602 573 819 1,099 1,032 945 621 Long-term external debt 28 1,107 393 371 418 508 571 506 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 402 494 180 448 680 524 374 114 2. Other non-debt resource flows Foreign direct investment (net) -362 17 39 306 918 317 1,658 1,492 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 76 41 36 125 50 58 45 46 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 99 106 64 76 73 69 76 76 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 50.5 52.3 55.9 58.4 57.0 Japanese yen 4.2 4.9 9.4 10.4 8.1 6.8 6.9 7.3 Pound sterling 0.0 0.0 0.6 0.3 0.1 0.1 0.0 0.0 Swiss franc 0.0 0.6 3.9 5.5 4.4 3.7 3.4 2.7 U.S.dollars 88.6 71.5 68.3 33.2 34.9 33.4 31.1 32.9 4. Average terms of new commitments Official creditors Interest (%) 7.3 7.5 4.9 3.0 4.3 5.9 0.0 0.0 Maturity (years) 13.5 8.2 13.5 15.2 15.7 11.8 0.0 0.0 Grace period (years) 5.0 2.3 4.4 5.4 4.8 3.8 0.0 0.0 Private creditors Interest (%) 8.6 6.3 6.6 4.1 4.9 6.0 0.0 5.6 Maturity (years) 8.3 11.3 10.3 9.3 9.9 10.0 0.0 6.7 Grace period (years) 3.7 3.4 2.9 2.5 2.5 2.5 0.0 2.2 5. Major economic aggregates Gross national income (GNI) 115,922 90,172 101,335 160,332 188,503 219,296 283,000 .. Exports of goods, services & income 20,197 19,269 30,131 .. .. .. .. .. Worker remit. & comp. of employees .. 1,600 536 1,032 1,032 1,032 1,115 1,115 Imports of goods & services 22,370 15,907 18,107 .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. Current account balance 327 3,358 12,481 .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 44.7 111.9 25.6 .. .. .. .. .. External debt stocks to GNI (%) 7.8 23.9 7.6 13.1 11.6 8.8 7.4 .. Debt service to exports (%) 3.2 29.7 9.7 .. .. .. .. .. Short-term to external debt stocks (%) 80.1 29.9 39.0 52.3 51.9 42.6 47.0 36.1 Multilateral to external debt stocks (%) 1.3 1.8 6.6 1.5 1.7 2.9 3.3 5.5 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 152 IRAN, ISLAMIC REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 1,797 15,116 4,710 9,988 10,509 11,117 11,169 8,902 Public and publicly guaranteed 1,797 15,116 4,710 9,988 10,509 11,117 11,169 8,902 Official creditors 225 11,354 1,630 1,784 1,976 2,101 2,204 2,181 Multilateral 116 381 507 318 381 559 699 761 of which: IBRD 86 316 481 316 378 559 699 761 IDA 0 0 0 0 0 0 0 0 Bilateral 110 10,974 1,123 1,466 1,595 1,541 1,505 1,420 Private creditors 1,571 3,761 3,080 8,204 8,533 9,016 8,965 6,721 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1,055 5 1,041 3,477 4,082 4,701 5,030 4,004 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 139 979 1,469 2,202 2,750 1,724 1,106 963 Public and publicly guaranteed 139 979 1,469 2,202 2,750 1,724 1,106 963 Official creditors 30 393 443 267 630 383 264 274 Multilateral 30 123 120 36 258 248 212 144 of which: IBRD 0 85 114 29 247 248 212 144 IDA 0 0 0 0 0 0 0 0 Bilateral 0 270 323 231 372 135 52 131 Private creditors 109 586 1,026 1,935 2,120 1,341 842 689 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 268 995 1,442 1,067 690 614 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 225 4,120 2,344 1,432 1,715 1,716 1,987 2,173 Public and publicly guaranteed 225 4,120 2,344 1,432 1,715 1,716 1,987 2,173 Official creditors 86 3,497 1,785 200 318 264 277 287 Multilateral 67 41 108 68 155 75 73 66 of which: IBRD 67 6 70 63 145 66 73 66 IDA 0 0 0 0 0 0 0 0 Bilateral 18 3,456 1,677 131 163 189 204 220 Private creditors 139 622 559 1,232 1,397 1,451 1,709 1,887 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 65 612 713 689 926 1,104 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 28 1,107 393 371 418 508 571 506 Public and publicly guaranteed 28 1,107 393 371 418 508 571 501 Official creditors 14 787 189 104 98 92 101 79 Multilateral 10 27 44 22 39 25 36 25 of which: IBRD 10 19 40 22 39 25 36 25 IDA 0 0 0 0 0 0 0 0 Bilateral 4 759 145 82 59 67 65 54 Private creditors 14 321 204 267 320 416 470 422 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 82 108 157 224 276 247 Private nonguaranteed 0 0 0 0 0 0 0 5 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 2,502 -677 -1,631 4,761 943 -2,491 1,694 -7,132 Net flows on external debt 2,480 -227 -1,484 4,480 1,456 -3,091 761 -6,075 Cross-currency valuation -6 -340 -139 266 -468 585 1,393 -1,068 9. Debt restructurings Total amount rescheduled 0 3,178 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 400 447 394 382 243 212 171 154 Interest 68 58 48 37 29 23 19 15 Private creditors Principal 2,077 1,685 1,338 1,101 791 560 356 222 Interest 194 151 113 81 54 33 19 10 Notes: Data relate to the year ending in March. 153 JAMAICA 1. Summary external debt data External debt stocks 4,761 4,581 4,724 6,486 6,562 7,953 10,088 10,034 Long-term external debt 4,058 3,849 3,871 5,387 5,945 6,849 8,550 8,763 Public and publicly guaranteed 4,024 3,721 3,768 5,289 5,555 6,038 6,377 6,598 Private nonguaranteed 34 128 103 98 390 811 2,173 2,164 Use of IMF credit 357 240 60 1 0 0 0 0 Short-term external debt 346 492 793 1,098 617 1,103 1,539 1,271 interest arrears on long-term 124 102 150 227 225 261 284 275 Memorandum items 157 203 131 125 146 219 157 184 4,024 3,721 3,767 5,288 5,554 6,037 6,376 6,597 34 128 104 100 391 813 2,174 2,165 360 234 1,066 1,014 1,123 579 795 720 External debt flows Disbursements 348 316 904 1,147 1,346 1,085 2,195 656 Long-term external debt 292 305 904 1,147 1,346 1,085 2,195 656 IMF purchases 56 11 0 0 0 0 0 0 Principal repayments 401 436 443 514 551 312 590 416 Long-term external debt 290 340 424 506 550 312 590 416 IMF repurchases 111 95 19 8 1 0 0 0 Net flows -99 -106 440 711 316 1,223 2,018 -19 Long-term external debt 2 -35 481 640 796 773 1,605 240 Short-term external debt -45 14 -21 79 -479 450 413 -259 Interest payments 260 232 261 338 419 512 717 693 Long-term external debt 202 191 208 309 387 473 657 666 IMF charges 34 17 4 0 0 0 0 0 Short-term external debt 24 24 49 30 32 39 60 27 2. Other non-debt resource flows Foreign direct investment (net) 138 147 468 602 682 882 866 1,437 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 189 230 290 362 454 376 533 376 Grants (excluding technical coop.) 117 64 44 112 94 91 86 128 of which: Debt forgiveness grants .. .. 5 17 28 10 5 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 33 51 32 36 44 28 10 15 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 21.6 17.8 18.6 18.5 16.7 Japanese yen 4.7 9.9 7.1 5.3 3.9 3.3 2.9 3.0 Pound sterling 5.7 4.1 2.0 2.0 1.5 1.4 1.2 0.5 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.0 47.6 61.7 62.3 69.7 71.2 72.7 75.8 4. Average terms of new commitments Official creditors Interest (%) 7.5 5.6 6.1 4.0 4.1 5.3 3.4 4.3 Maturity (years) 19.7 21.6 19.8 16.9 22.0 12.4 19.3 23.8 Grace period (years) 4.7 4.7 5.4 3.2 5.7 3.9 5.1 5.4 Private creditors Interest (%) 8.7 6.3 11.0 9.7 8.2 8.1 7.8 7.5 Maturity (years) 1.9 8.9 6.0 9.0 12.8 21.4 27.6 10.8 Grace period (years) 0.4 2.1 4.2 7.9 10.6 16.6 23.6 8.2 5. Major economic aggregates Gross national income (GNI) 4,158 5,569 8,662 9,553 10,476 11,375 12,201 14,388 Exports of goods, services & income 2,461 4,123 4,571 5,634 5,943 6,930 7,554 7,804 Worker remit. & comp. of employees 229 653 892 1,623 1,784 1,946 2,144 2,180 Imports of goods & services 2,928 4,246 4,970 6,124 6,972 8,092 9,673 10,970 International reserves 168 681 1,054 1,846 2,170 2,318 1,879 1,767 Current account balance -312 -99 -367 -509 -1,072 -1,183 -2,043 -3,038 6. Ratios External debt stocks to exports (%) 193.5 111.1 103.3 115.1 110.4 114.8 133.5 128.6 External debt stocks to GNI (%) 114.5 82.3 54.5 67.9 62.6 69.9 82.7 69.7 Debt service to exports (%) 26.9 16.2 15.4 15.1 16.3 11.9 17.3 14.2 Short-term to external debt stocks (%) 7.3 10.7 16.8 16.9 9.4 13.9 15.3 12.7 Multilateral to external debt stocks (%) 24.7 26.9 25.8 22.0 20.3 16.3 12.5 13.2 Reserves to external debt stocks (%) 3.5 14.9 22.3 28.5 33.1 29.2 18.6 17.6 Reserves to imports (months) 0.7 1.9 2.5 3.6 3.7 3.4 2.3 1.9 154 JAMAICA 7. Long-term external debt Debt outstanding and disbursed 4,058 3,849 3,871 5,387 5,945 6,849 8,550 8,763 Public and publicly guaranteed 4,024 3,721 3,768 5,289 5,555 6,038 6,377 6,598 Official creditors 3,463 3,363 2,449 2,408 2,155 2,050 1,981 1,986 Multilateral 1,174 1,234 1,218 1,430 1,333 1,298 1,260 1,325 of which: IBRD 672 595 415 439 410 387 360 327 IDA 0 0 0 0 0 0 0 0 Bilateral 2,289 2,129 1,231 978 822 752 721 661 Private creditors 561 358 1,320 2,881 3,400 3,988 4,396 4,613 of which: Bonds 0 25 1,004 2,524 3,043 3,568 4,050 4,256 Commercial banks 331 269 265 301 317 385 301 322 Private nonguaranteed 34 128 103 98 390 811 2,173 2,164 of which: Bonds 0 55 0 0 300 730 2,130 2,130 Disbursements 292 305 904 1,147 1,346 1,085 2,195 656 Public and publicly guaranteed 292 250 904 1,117 1,039 655 795 656 Official creditors 253 193 311 136 86 104 129 238 Multilateral 110 125 255 120 67 82 93 208 of which: IBRD 35 61 98 6 17 18 19 13 IDA 0 0 0 0 0 0 0 0 Bilateral 144 68 57 16 19 22 36 30 Private creditors 39 57 593 981 952 552 666 418 of which: Bonds 0 13 553 859 875 450 625 350 Commercial banks 0 42 24 122 75 97 25 68 Private nonguaranteed 0 55 0 30 307 430 1,400 0 of which: Bonds 0 0 0 0 300 430 1,400 0 Principal repayments 290 340 424 506 550 312 590 416 Public and publicly guaranteed 281 335 360 498 541 303 567 407 Official creditors 205 255 273 218 231 246 244 260 Multilateral 100 127 122 120 119 137 154 147 of which: IBRD 62 85 60 47 39 43 48 47 IDA 0 0 0 0 0 0 0 0 Bilateral 105 129 151 98 113 109 89 113 Private creditors 76 80 87 280 310 58 324 147 of which: Bonds 0 0 13 218 256 0 229 100 Commercial banks 1 73 47 48 44 44 85 40 Private nonguaranteed 8 5 64 9 9 9 22 9 of which: Bonds 0 0 55 0 0 0 0 0 Interest payments 202 191 208 309 387 473 657 666 Public and publicly guaranteed 200 181 195 305 361 422 472 472 Official creditors 165 158 120 89 84 91 90 80 Multilateral 85 83 65 61 63 67 69 62 of which: IBRD 58 47 22 18 19 22 22 19 IDA 0 0 0 0 0 0 0 0 Bilateral 79 75 55 28 21 24 21 18 Private creditors 35 23 75 217 277 332 382 392 of which: Bonds 0 2 50 207 265 325 373 384 Commercial banks 20 19 18 8 11 6 8 7 Private nonguaranteed 3 11 13 3 26 51 185 194 of which: Bonds 0 5 2 0 21 45 181 191 8. Debt stock-flow reconciliation Total change in external debt stocks 120 -29 798 831 75 1,391 2,136 -54 Net flows on external debt -99 -106 440 711 316 1,223 2,018 -19 Cross-currency valuation 158 33 -91 80 -230 121 141 -18 9. Debt restructurings Total amount rescheduled 469 105 0 0 0 0 0 0 Total amount forgiven 25 0 4 5 2 3 2 6 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 258 224 190 176 171 164 163 150 Interest 78 69 62 56 51 45 40 34 Private creditors Principal 395 100 489 648 147 295 2,194 169 Interest 715 693 664 627 551 545 377 220 Notes: Data on long-term private nonguaranteed debt are World Bank staff estimates based on information from market sources. 155 JORDAN 1. Summary external debt data External debt stocks 8,333 7,661 7,355 8,066 7,696 8,055 8,368 6,577 Long-term external debt 7,202 6,624 6,183 7,227 6,878 7,143 7,318 5,123 Public and publicly guaranteed 7,202 6,624 6,183 7,227 6,878 7,143 7,318 5,123 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 94 251 462 338 236 158 88 28 Short-term external debt 1,037 785 710 501 582 754 962 1,426 interest arrears on long-term 107 67 102 0 0 1 0 0 Memorandum items 529 177 281 23 17 36 34 34 7,202 6,624 6,148 7,214 6,790 7,000 7,168 4,975 0 0 35 13 88 142 150 148 749 1,259 384 334 337 159 220 427 External debt flows Disbursements 691 724 196 212 434 277 186 230 Long-term external debt 691 609 176 212 434 277 186 230 IMF purchases 0 115 20 0 0 0 0 0 Principal repayments 252 337 424 526 418 441 486 2,470 Long-term external debt 242 329 393 428 341 353 409 2,411 IMF repurchases 10 8 31 98 77 88 76 59 Net flows 604 484 -399 -556 97 7 -90 -1,776 Long-term external debt 449 280 -217 -216 93 -76 -223 -2,181 Short-term external debt 165 97 -171 -242 81 171 209 464 Interest payments 377 263 315 178 198 249 284 232 Long-term external debt 310 209 239 146 160 196 227 200 IMF charges 9 10 24 10 10 10 7 3 Short-term external debt 58 43 52 22 27 42 49 29 2. Other non-debt resource flows Foreign direct investment (net) 38 13 815 816 1,774 3,219 1,950 1,966 Portfolio equity flows 0 0 -17 -90 169 144 346 500 Profit remittances on FDI 0 0 1 1 1 2 3 2 Grants (excluding technical coop.) 672 219 385 515 544 505 623 740 of which: Debt forgiveness grants .. .. 12 12 10 18 72 11 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 68 160 120 109 125 115 58 63 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 23.1 21.1 23.3 24.1 12.6 Japanese yen 5.8 25.6 27.5 22.6 20.1 18.3 17.8 30.0 Pound sterling 7.9 5.5 3.4 9.2 8.9 9.3 9.3 0.0 Swiss franc 0.8 0.5 0.4 1.2 1.1 0.7 0.7 0.3 U.S.dollars 45.7 28.9 29.3 22.9 26.4 25.9 25.3 24.8 4. Average terms of new commitments Official creditors Interest (%) 3.9 4.7 4.8 2.5 2.9 3.4 4.6 3.5 Maturity (years) 22.0 21.8 19.5 21.1 23.6 21.1 20.5 20.8 Grace period (years) 7.4 8.4 6.4 6.3 6.0 5.8 6.0 5.7 Private creditors Interest (%) 8.9 0.0 0.0 5.3 0.0 0.2 0.0 0.0 Maturity (years) 7.0 0.0 0.0 16.2 0.0 34.3 0.0 0.0 Grace period (years) 1.0 0.0 0.0 13.2 0.0 11.3 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,805 6,449 8,596 11,735 13,020 15,420 17,340 20,966 Exports of goods, services & income 3,078 4,838 5,868 8,664 9,605 11,658 13,523 16,848 Worker remit. & comp. of employees 499 1,441 1,845 2,330 2,500 2,883 3,434 3,794 Imports of goods & services 3,850 5,297 6,331 9,732 12,242 13,682 16,242 19,613 International reserves 1,139 2,279 3,441 5,447 5,461 6,982 7,925 8,918 Current account balance -227 -259 60 89 -2,200 -1,598 -2,934 -2,393 6. Ratios External debt stocks to exports (%) 270.8 158.3 125.3 93.1 80.1 69.1 61.9 39.0 External debt stocks to GNI (%) 219.0 118.8 85.6 68.7 59.1 52.2 48.3 31.4 Debt service to exports (%) 20.4 12.4 12.6 8.1 6.4 5.9 5.7 16.0 Short-term to external debt stocks (%) 12.4 10.2 9.7 6.2 7.6 9.4 11.5 21.7 Multilateral to external debt stocks (%) 10.6 15.5 23.2 24.3 24.8 24.3 23.7 29.7 Reserves to external debt stocks (%) 13.7 29.8 46.8 67.5 71.0 86.7 94.7 135.6 Reserves to imports (months) 3.5 5.2 6.5 6.7 5.4 6.1 5.9 5.5 156 JORDAN 7. Long-term external debt Debt outstanding and disbursed 7,202 6,624 6,183 7,227 6,878 7,143 7,318 5,123 Public and publicly guaranteed 7,202 6,624 6,183 7,227 6,878 7,143 7,318 5,123 Official creditors 3,551 4,583 5,190 6,915 6,438 6,714 6,906 4,774 Multilateral 887 1,185 1,706 1,958 1,905 1,961 1,986 1,956 of which: IBRD 516 736 798 971 925 897 868 835 IDA 77 69 57 47 45 42 39 37 Bilateral 2,664 3,397 3,484 4,957 4,533 4,754 4,920 2,818 Private creditors 3,651 2,041 993 312 440 429 411 350 of which: Bonds 263 801 636 57 190 188 186 184 Commercial banks 1,604 337 1 0 0 0 0 6 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 691 609 176 212 434 277 186 230 Public and publicly guaranteed 691 609 176 212 434 277 186 230 Official creditors 376 609 176 184 269 277 186 224 Multilateral 142 259 80 112 161 194 133 158 of which: IBRD 123 158 38 29 48 43 39 41 IDA 0 0 0 0 0 0 0 0 Bilateral 234 351 96 72 108 83 53 67 Private creditors 315 0 0 28 165 0 0 6 of which: Bonds 0 0 0 0 145 0 0 0 Commercial banks 73 0 0 0 0 0 0 6 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 242 329 393 428 341 353 409 2,411 Public and publicly guaranteed 242 329 393 428 341 353 409 2,411 Official creditors 142 128 238 383 322 340 392 2,338 Multilateral 94 117 124 215 170 168 174 185 of which: IBRD 52 77 53 86 73 78 78 86 IDA 1 2 3 3 3 3 3 3 Bilateral 48 11 114 168 152 172 218 2,153 Private creditors 100 201 155 44 20 12 17 73 of which: Bonds 0 0 95 11 11 1 2 2 Commercial banks 69 135 19 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 310 209 239 146 160 196 227 200 Public and publicly guaranteed 310 209 239 146 160 196 227 200 Official creditors 123 116 158 134 153 179 209 182 Multilateral 54 63 91 71 76 90 97 88 of which: IBRD 37 48 53 25 33 45 50 38 IDA 1 1 0 0 0 0 0 0 Bilateral 69 53 67 63 77 89 112 94 Private creditors 187 94 80 13 7 18 18 19 of which: Bonds 14 41 46 4 4 12 12 12 Commercial banks 67 32 1 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,017 107 -728 -271 -370 359 313 -1,791 Net flows on external debt 604 484 -399 -556 97 7 -90 -1,776 Cross-currency valuation 309 57 -366 265 -545 283 350 49 9. Debt restructurings Total amount rescheduled 350 365 194 257 220 208 196 0 Total amount forgiven 0 322 63 98 0 0 0 246 Debt buyback 0 0 85 0 0 0 0 2,038 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 420 430 439 448 432 429 399 352 Interest 138 131 123 113 100 88 76 65 Private creditors Principal 18 18 19 19 15 10 11 12 Interest 17 16 15 14 13 13 12 12 157 KAZAKHSTAN 1. Summary external debt data External debt stocks .. 3,750 12,433 32,815 43,478 74,230 96,347 107,595 Long-term external debt .. 2,937 11,472 28,872 35,327 61,569 84,388 96,958 Public and publicly guaranteed .. 2,834 3,623 3,233 2,177 2,136 1,698 1,915 Private nonguaranteed .. 103 7,849 25,639 33,150 59,433 82,690 95,043 Use of IMF credit .. 432 0 0 0 0 0 0 Short-term external debt .. 381 961 3,943 8,151 12,661 11,959 10,637 interest arrears on long-term .. 162 0 0 0 0 0 0 Memorandum items .. 0 0 0 0 0 0 0 .. 2,834 3,619 3,200 2,157 2,130 1,698 1,915 .. 103 7,852 25,672 33,170 59,439 82,690 95,043 .. 982 688 35 159 30 0 174 External debt flows Disbursements .. 881 3,057 16,118 17,238 37,916 44,750 40,925 Long-term external debt .. 740 3,057 16,118 17,238 37,916 44,750 40,925 IMF purchases .. 141 0 0 0 0 0 0 Principal repayments .. 105 2,595 7,868 11,450 12,172 23,596 29,035 Long-term external debt .. 105 2,153 7,868 11,450 12,172 23,596 29,035 IMF repurchases .. 0 442 0 0 0 0 0 Net flows .. 868 1,057 9,381 9,996 30,254 20,452 10,568 Long-term external debt .. 635 904 8,251 5,787 25,744 21,154 11,890 Short-term external debt .. 93 595 1,130 4,209 4,510 -702 -1,322 Interest payments .. 130 775 907 1,730 2,360 3,927 4,400 Long-term external debt .. 102 713 811 1,526 1,953 3,537 4,117 IMF charges .. 17 11 0 0 0 0 0 Short-term external debt .. 10 51 96 204 408 389 282 2. Other non-debt resource flows Foreign direct investment (net) .. 964 1,283 4,157 1,971 6,278 11,126 14,648 Portfolio equity flows .. 0 19 -13 150 2,789 828 -1,280 Profit remittances on FDI .. 74 1,046 2,347 4,633 7,694 11,304 16,738 Grants (excluding technical coop.) .. 11 44 27 75 49 125 202 of which: Debt forgiveness grants .. .. 2 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 55 73 119 89 103 55 102 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.6 1.9 2.1 2.6 1.9 Japanese yen .. 8.9 13.8 24.6 32.6 34.9 46.7 52.5 Pound sterling .. 0.0 0.6 0.4 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 6.9 61.2 50.4 53.9 53.5 46.8 42.1 4. Average terms of new commitments Official creditors Interest (%) .. 5.5 3.0 1.8 5.0 6.2 0.0 3.4 Maturity (years) .. 14.3 27.6 24.6 16.8 16.3 0.0 15.1 Grace period (years) .. 4.5 8.4 5.1 5.3 4.8 0.0 5.3 Private creditors Interest (%) .. 6.4 11.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 5.9 6.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 2.3 5.6 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 20,229 17,038 40,289 51,427 71,551 91,767 113,288 Exports of goods, services & income .. 6,020 10,544 23,088 31,265 43,084 55,502 80,021 Worker remit. & comp. of employees .. 116 122 166 178 187 223 192 Imports of goods & services .. 6,292 10,362 22,211 31,852 43,803 61,437 71,938 International reserves .. 1,660 2,099 9,277 7,070 19,127 17,641 19,883 Current account balance .. -213 366 335 -1,056 -1,999 -8,226 6,978 6. Ratios External debt stocks to exports (%) .. 62.3 117.9 142.1 139.1 172.3 173.6 134.5 External debt stocks to GNI (%) .. 18.5 73.0 81.4 84.5 103.7 105.0 95.0 Debt service to exports (%) .. 3.9 32.0 38.0 42.2 33.7 49.6 41.8 Short-term to external debt stocks (%) .. 10.2 7.7 12.0 18.7 17.1 12.4 9.9 Multilateral to external debt stocks (%) .. 10.4 11.9 5.4 2.0 1.1 0.7 0.7 Reserves to external debt stocks (%) .. 44.3 16.9 28.3 16.3 25.8 18.3 18.5 Reserves to imports (months) .. 3.2 2.4 5.0 2.7 5.2 3.4 3.3 158 KAZAKHSTAN 7. Long-term external debt Debt outstanding and disbursed .. 2,937 11,472 28,872 35,327 61,569 84,388 96,958 Public and publicly guaranteed .. 2,834 3,623 3,233 2,177 2,136 1,698 1,915 Official creditors .. 2,293 2,239 2,761 1,780 1,762 1,684 1,912 Multilateral .. 392 1,482 1,772 869 823 711 748 of which: IBRD .. 295 1,057 1,275 599 502 427 463 IDA .. 0 0 0 0 0 0 0 Bilateral .. 1,901 757 989 911 939 973 1,164 Private creditors .. 541 1,384 472 396 374 13 3 of which: Bonds .. 0 1,000 350 350 350 0 0 Commercial banks .. 17 263 122 46 24 13 3 Private nonguaranteed .. 103 7,849 25,639 33,150 59,433 82,690 95,043 of which: Bonds .. 0 100 4,500 7,550 13,814 24,623 24,125 Disbursements .. 740 3,057 16,118 17,238 37,916 44,750 40,925 Public and publicly guaranteed .. 671 623 384 198 177 160 145 Official creditors .. 421 168 384 198 177 160 145 Multilateral .. 171 95 173 81 106 112 95 of which: IBRD .. 107 50 60 37 29 67 65 IDA .. 0 0 0 0 0 0 0 Bilateral .. 250 73 211 117 71 48 51 Private creditors .. 249 455 0 0 0 0 0 of which: Bonds .. 0 350 0 0 0 0 0 Commercial banks .. 17 105 0 0 0 0 0 Private nonguaranteed .. 69 2,434 15,734 17,040 37,739 44,590 40,780 of which: Bonds .. 0 0 3,475 3,050 6,219 10,993 540 Principal repayments .. 105 2,153 7,868 11,450 12,172 23,596 29,035 Public and publicly guaranteed .. 95 216 690 1,090 222 640 131 Official creditors .. 27 133 311 1,018 200 279 120 Multilateral .. 0 31 218 921 160 226 58 of which: IBRD .. 0 20 87 658 130 143 28 IDA .. 0 0 0 0 0 0 0 Bilateral .. 27 102 93 97 40 53 62 Private creditors .. 68 83 379 72 22 361 11 of which: Bonds .. 0 0 300 0 0 350 0 Commercial banks .. 0 30 69 72 22 11 11 Private nonguaranteed .. 11 1,937 7,177 10,360 11,949 22,957 28,905 of which: Bonds .. 0 0 100 0 0 400 850 Interest payments .. 102 713 811 1,526 1,953 3,537 4,117 Public and publicly guaranteed .. 100 235 187 146 113 96 67 Official creditors .. 59 124 96 102 71 74 66 Multilateral .. 15 82 70 73 44 46 35 of which: IBRD .. 14 62 44 54 31 29 19 IDA .. 0 0 0 0 0 0 0 Bilateral .. 44 42 26 28 27 29 31 Private creditors .. 41 112 90 44 42 22 1 of which: Bonds .. 0 90 80 39 39 19 0 Commercial banks .. 0 14 10 5 3 2 1 Private nonguaranteed .. 1 477 624 1,380 1,839 3,441 4,051 of which: Bonds .. 0 11 96 543 834 1,510 1,802 8. Debt stock-flow reconciliation Total change in external debt stocks .. 961 6,304 10,048 10,664 30,752 22,117 11,248 Net flows on external debt .. 868 1,057 9,381 9,996 30,254 20,452 10,568 Cross-currency valuation .. -222 -162 65 -176 4 25 201 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 136 145 159 176 170 178 178 147 Interest 55 53 49 45 41 37 33 29 Private creditors Principal 22,187 17,611 13,288 9,985 5,873 8,028 4,883 4,267 Interest 4,047 3,280 2,532 1,910 1,463 1,065 769 527 Notes: Long-term private nonguaranteed debt includes only registered private debt of National Bank of Kazakhstan. Short-term debt is based on data on the National Bank of Kazakhstan from 2000. 159 KENYA 1. Summary external debt data External debt stocks 7,055 7,309 6,141 6,912 6,421 6,552 7,378 7,441 Long-term external debt 5,639 6,302 5,216 6,074 5,763 5,797 6,145 6,268 Public and publicly guaranteed 4,759 5,857 5,041 6,064 5,763 5,797 6,145 6,268 Private nonguaranteed 880 445 175 10 0 0 0 0 Use of IMF credit 482 374 127 103 159 153 269 252 Short-term external debt 934 634 798 735 499 602 964 921 interest arrears on long-term 95 31 47 3 21 34 57 66 Memorandum items 72 6 142 40 141 334 308 271 4,759 5,857 5,041 6,064 5,763 5,797 6,145 6,268 880 445 175 10 0 0 0 0 803 326 355 713 239 519 882 395 External debt flows Disbursements 777 677 377 244 240 123 444 323 Long-term external debt 640 677 333 244 166 123 329 323 IMF purchases 136 0 44 0 74 0 115 0 Principal repayments 457 605 449 271 447 333 343 297 Long-term external debt 352 566 407 257 440 319 332 287 IMF repurchases 105 39 42 14 7 14 10 11 Net flows 613 78 -31 -184 -461 -120 440 -27 Long-term external debt 288 111 -74 -13 -273 -196 -3 36 Short-term external debt 294 6 41 -157 -254 90 339 -52 Interest payments 333 299 142 85 91 94 108 112 Long-term external debt 230 261 100 60 72 70 77 90 IMF charges 26 2 1 1 1 1 1 1 Short-term external debt 78 36 41 24 18 23 29 21 2. Other non-debt resource flows Foreign direct investment (net) 57 32 111 46 21 51 729 96 Portfolio equity flows 0 6 -6 3 3 2 0 5 Profit remittances on FDI 132 116 29 31 35 39 124 52 Grants (excluding technical coop.) 977 242 202 406 478 654 924 1,099 of which: Debt forgiveness grants .. .. 10 24 19 17 11 24 IDA grants .. .. .. 19 2 14 9 10 Memo: technical coop. grants 207 221 136 211 218 281 140 126 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 16.3 19.2 19.0 19.7 16.8 Japanese yen 8.4 18.6 20.1 19.6 18.6 17.9 16.7 19.3 Pound sterling 8.7 3.8 2.5 0.6 0.6 0.7 0.6 0.4 Swiss franc 3.4 4.2 1.4 0.2 0.1 0.1 0.1 0.1 U.S.dollars 30.9 35.8 49.8 50.9 49.3 49.3 48.8 47.5 4. Average terms of new commitments Official creditors Interest (%) 3.1 2.1 1.1 0.8 1.3 1.8 1.4 1.3 Maturity (years) 29.6 35.7 39.0 39.6 35.5 33.0 39.1 30.6 Grace period (years) 8.4 9.8 10.0 10.0 8.4 8.7 9.7 8.3 Private creditors Interest (%) 7.4 4.8 7.5 0.0 0.0 0.0 0.0 1.0 Maturity (years) 12.8 5.2 5.9 10.5 0.0 0.0 17.3 13.0 Grace period (years) 4.9 0.6 1.4 0.5 0.0 0.0 2.5 1.5 5. Major economic aggregates Gross national income (GNI) 8,224 8,726 12,562 15,950 18,763 22,516 27,055 34,288 Exports of goods, services & income 2,233 3,667 2,821 4,703 5,840 6,616 7,869 9,134 Worker remit. & comp. of employees 139 298 538 620 805 1,128 1,588 1,692 Imports of goods & services 3,128 6,195 3,941 5,461 6,921 8,341 10,364 12,781 International reserves 236 384 898 1,520 1,799 2,416 3,355 2,879 Current account balance -527 -1,578 -199 -132 -252 -510 -1,034 -1,978 6. Ratios External debt stocks to exports (%) 315.9 199.3 217.7 147.0 109.9 99.0 93.8 81.5 External debt stocks to GNI (%) 85.8 83.8 48.9 43.3 34.2 29.1 27.3 21.7 Debt service to exports (%) 35.4 24.7 20.9 7.6 9.2 6.5 5.7 4.5 Short-term to external debt stocks (%) 13.2 8.7 13.0 10.6 7.8 9.2 13.1 12.4 Multilateral to external debt stocks (%) 35.3 39.7 46.2 50.6 53.3 52.4 48.5 49.6 Reserves to external debt stocks (%) 3.3 5.3 14.6 22.0 28.0 36.9 45.5 38.7 Reserves to imports (months) 0.9 0.7 2.7 3.3 3.1 3.5 3.9 2.7 160 KENYA 7. Long-term external debt Debt outstanding and disbursed 5,639 6,302 5,216 6,074 5,763 5,797 6,145 6,268 Public and publicly guaranteed 4,759 5,857 5,041 6,064 5,763 5,797 6,145 6,268 Official creditors 3,712 5,212 4,559 5,704 5,413 5,486 5,823 5,966 Multilateral 2,492 2,903 2,836 3,497 3,426 3,437 3,581 3,688 of which: IBRD 871 435 47 1 0 0 0 0 IDA 1,185 1,977 2,262 2,882 2,663 2,764 2,968 3,050 Bilateral 1,220 2,309 1,724 2,207 1,987 2,049 2,242 2,278 Private creditors 1,047 645 482 360 351 312 322 302 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 880 510 436 277 279 236 242 228 Private nonguaranteed 880 445 175 10 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 640 677 333 244 166 123 329 323 Public and publicly guaranteed 585 677 333 244 166 123 329 323 Official creditors 404 545 248 203 138 123 329 316 Multilateral 297 219 196 148 64 74 214 232 of which: IBRD 3 0 0 0 0 0 0 0 IDA 234 159 170 78 34 41 159 178 Bilateral 106 326 52 55 74 49 115 83 Private creditors 182 132 85 42 28 0 0 7 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 119 72 77 42 28 0 0 7 Private nonguaranteed 55 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 352 566 407 257 440 319 332 287 Public and publicly guaranteed 315 481 362 243 430 319 332 287 Official creditors 180 271 241 151 356 257 321 272 Multilateral 127 150 112 90 327 220 223 104 of which: IBRD 95 100 40 5 1 0 0 0 IDA 4 9 29 52 54 60 66 75 Bilateral 53 120 129 61 29 38 98 167 Private creditors 135 210 121 92 74 62 11 15 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 114 164 108 83 72 61 9 13 Private nonguaranteed 37 85 45 14 10 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 230 261 100 60 72 70 77 90 Public and publicly guaranteed 193 220 81 59 72 70 77 90 Official creditors 134 167 55 51 66 65 75 88 Multilateral 100 77 38 33 48 36 32 34 of which: IBRD 78 43 7 0 0 0 0 0 IDA 7 14 16 22 23 22 22 24 Bilateral 34 89 17 18 17 29 44 54 Private creditors 59 53 27 8 6 5 2 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 52 45 23 6 6 3 1 1 Private nonguaranteed 38 41 19 1 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,166 185 -334 52 -490 131 825 63 Net flows on external debt 613 78 -31 -184 -461 -120 440 -27 Cross-currency valuation 89 -253 -302 231 -505 242 298 187 9. Debt restructurings Total amount rescheduled 0 0 122 153 127 137 0 0 Total amount forgiven 97 0 10 20 3 16 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 269 282 313 327 335 326 341 350 Interest 92 93 92 89 84 78 72 66 Private creditors Principal 19 14 10 10 10 10 6 4 Interest 1 1 1 1 1 0 0 0 161 KYRGYZ REPUBLIC 1. Summary external debt data External debt stocks .. 609 1,827 2,111 2,027 2,366 2,504 2,464 Long-term external debt .. 472 1,510 1,897 1,825 2,095 2,278 2,269 Public and publicly guaranteed .. 472 1,220 1,742 1,665 1,825 1,898 1,963 Private nonguaranteed .. 0 290 154 161 270 380 307 Use of IMF credit .. 124 188 207 178 163 150 165 Short-term external debt .. 13 129 7 24 108 76 30 interest arrears on long-term .. 11 10 3 3 4 7 6 Memorandum items .. 11 28 12 6 4 9 11 .. 472 1,220 1,742 1,665 1,825 1,898 1,963 .. 0 290 154 161 270 380 307 .. 164 201 26 86 16 46 96 External debt flows Disbursements .. 201 180 156 151 243 281 245 Long-term external debt .. 155 161 127 133 239 277 203 IMF purchases .. 46 19 28 18 4 4 42 Principal repayments .. 36 97 131 104 65 151 285 Long-term external debt .. 36 86 99 74 38 126 261 IMF repurchases .. 0 11 32 31 27 25 23 Net flows .. 165 152 -8 63 261 95 -84 Long-term external debt .. 119 75 28 59 202 151 -58 Short-term external debt .. 0 69 -32 17 83 -35 -45 Interest payments .. 24 76 30 23 22 27 44 Long-term external debt .. 20 69 28 21 19 23 42 IMF charges .. 4 2 1 1 1 1 1 Short-term external debt .. 0 5 0 0 2 3 1 2. Other non-debt resource flows Foreign direct investment (net) .. 96 -2 175 43 182 208 233 Portfolio equity flows .. 0 0 0 0 0 1 6 Profit remittances on FDI .. 0 37 58 36 40 40 74 Grants (excluding technical coop.) .. 54 44 54 121 105 184 242 of which: Debt forgiveness grants .. .. 0 0 7 0 0 1 IDA grants .. .. .. 1 6 10 27 19 Memo: technical coop. grants .. 29 38 110 91 100 58 69 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.3 2.8 3.5 4.3 4.0 Japanese yen .. 14.3 15.0 14.3 13.5 12.5 12.7 15.5 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 1.3 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 51.4 67.9 68.1 69.5 67.3 68.0 65.3 4. Average terms of new commitments Official creditors Interest (%) .. 3.7 1.0 1.2 1.0 1.4 0.5 1.6 Maturity (years) .. 28.3 35.8 34.4 36.2 31.6 26.7 21.7 Grace period (years) .. 8.1 9.5 8.8 9.3 8.1 7.3 5.9 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,626 1,288 2,110 2,372 2,785 3,692 4,331 Exports of goods, services & income .. 453 592 1,130 1,276 1,799 2,769 4,009 Worker remit. & comp. of employees .. 1 9 189 322 481 715 1,232 Imports of goods & services .. 765 753 1,237 1,499 2,338 3,313 4,892 International reserves .. 134 262 565 612 817 1,177 1,225 Current account balance .. -235 -76 29 -35 -282 -228 -631 6. Ratios External debt stocks to exports (%) .. 134.5 308.6 186.9 158.9 131.5 90.4 61.5 External debt stocks to GNI (%) .. 37.5 141.9 100.1 85.5 85.0 67.8 56.9 Debt service to exports (%) .. 13.2 29.3 14.2 10.0 4.9 6.4 8.2 Short-term to external debt stocks (%) .. 2.1 7.1 0.4 1.2 4.6 3.0 1.2 Multilateral to external debt stocks (%) .. 30.3 39.5 53.7 54.2 50.3 51.1 52.4 Reserves to external debt stocks (%) .. 21.9 14.3 26.7 30.2 34.5 47.0 49.7 Reserves to imports (months) .. 2.1 4.2 5.5 4.9 4.2 4.3 3.0 162 KYRGYZ REPUBLIC 7. Long-term external debt Debt outstanding and disbursed .. 472 1,510 1,897 1,825 2,095 2,278 2,269 Public and publicly guaranteed .. 472 1,220 1,742 1,665 1,825 1,898 1,963 Official creditors .. 472 1,184 1,736 1,665 1,825 1,898 1,963 Multilateral .. 184 722 1,134 1,099 1,190 1,280 1,290 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 141 377 579 565 612 651 655 Bilateral .. 288 461 602 566 634 618 672 Private creditors .. 0 37 6 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 28 0 0 0 0 0 Private nonguaranteed .. 0 290 154 161 270 380 307 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 155 161 127 133 239 277 203 Public and publicly guaranteed .. 155 153 95 76 87 66 51 Official creditors .. 155 149 95 76 87 66 51 Multilateral .. 124 107 85 70 73 58 50 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 81 52 25 34 26 22 20 Bilateral .. 31 42 10 6 15 8 1 Private creditors .. 0 4 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 8 32 57 152 211 152 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 36 86 99 74 38 126 261 Public and publicly guaranteed .. 36 17 13 16 20 25 35 Official creditors .. 36 13 13 16 20 25 35 Multilateral .. 30 8 12 16 20 22 29 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 2 4 6 9 11 Bilateral .. 6 5 0 0 0 3 6 Private creditors .. 0 4 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 2 0 0 0 0 0 Private nonguaranteed .. 0 69 86 57 18 102 226 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 20 69 28 21 19 23 42 Public and publicly guaranteed .. 20 23 13 12 15 16 17 Official creditors .. 20 20 13 12 15 16 17 Multilateral .. 3 11 11 12 12 12 13 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 1 3 5 5 5 5 5 Bilateral .. 17 10 2 0 2 4 4 Private creditors .. 0 2 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 2 0 0 0 0 0 Private nonguaranteed .. 0 47 15 9 5 6 24 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 163 92 87 -84 339 138 -40 Net flows on external debt .. 165 152 -8 63 261 95 -84 Cross-currency valuation .. -24 -88 45 -162 31 63 -22 9. Debt restructurings Total amount rescheduled .. 0 32 46 520 7 7 15 Total amount forgiven .. 0 0 0 17 0 8 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 57 53 54 56 58 67 71 73 Interest 31 31 30 29 28 28 27 26 Private creditors Principal 92 70 21 21 21 21 21 21 Interest 13 4 4 4 4 4 4 4 163 LAO PEOPLE'S DEMOCRATIC REPUBLIC 1. Summary external debt data External debt stocks 1,766 2,155 2,501 2,616 2,844 3,377 4,388 4,944 Long-term external debt 1,757 2,091 2,459 2,577 2,815 3,350 4,362 4,923 Public and publicly guaranteed 1,757 2,091 2,459 2,034 1,989 2,259 2,515 2,710 Private nonguaranteed 0 0 0 544 825 1,090 1,847 2,213 Use of IMF credit 8 64 42 38 29 27 26 21 Short-term external debt 0 0 0 0 0 0 0 0 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 1 0 1 0 0 0 0 0 1,757 2,091 2,459 2,034 1,989 2,259 2,515 2,710 0 0 0 544 825 1,090 1,847 2,213 125 110 68 56 76 16 164 8 External debt flows Disbursements 152 110 77 284 472 491 1,058 629 Long-term external debt 152 92 77 284 472 491 1,058 629 IMF purchases 0 18 0 0 0 0 0 0 Principal repayments 6 19 31 80 85 134 135 137 Long-term external debt 5 17 23 72 79 130 132 132 IMF repurchases 1 2 8 8 6 3 3 4 Net flows 146 91 47 204 386 357 923 492 Long-term external debt 146 75 55 212 392 361 926 497 Short-term external debt 0 0 0 0 0 0 0 0 Interest payments 3 6 9 44 47 48 55 67 Long-term external debt 3 6 9 43 47 48 54 67 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 0 0 0 0 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 6 95 34 17 28 187 324 228 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 6 0 0 0 0 0 0 Grants (excluding technical coop.) 47 130 134 114 134 159 176 254 of which: Debt forgiveness grants .. .. 2 0 4 2 0 0 IDA grants .. .. .. 0 11 18 15 35 Memo: technical coop. grants 30 75 74 77 81 75 97 78 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.0 0.0 0.0 0.0 0.0 Japanese yen 1.5 1.1 0.4 0.1 0.1 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 7.1 13.1 18.4 42.5 46.7 52.4 54.7 56.3 4. Average terms of new commitments Official creditors Interest (%) 0.9 2.5 1.4 1.1 3.6 1.4 1.2 1.3 Maturity (years) 39.9 37.1 31.6 35.6 27.9 24.9 27.0 29.1 Grace period (years) 10.0 9.7 8.1 9.1 7.9 8.7 9.4 10.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 866 1,758 1,664 2,411 2,616 3,379 4,135 4,968 Exports of goods, services & income 105 415 513 546 763 1,122 1,245 .. Worker remit. & comp. of employees 11 22 1 1 1 1 1 1 Imports of goods & services 215 761 638 814 1,022 1,199 1,235 .. International reserves 8 99 144 275 309 462 708 .. Current account balance -55 -237 -8 -189 -193 50 107 .. 6. Ratios External debt stocks to exports (%) 1,688.4 519.1 487.3 479.0 373.0 301.1 352.6 .. External debt stocks to GNI (%) 204.0 122.6 150.3 108.5 108.7 100.0 106.1 99.5 Debt service to exports (%) 8.5 6.1 7.8 22.6 17.3 16.2 15.2 .. Short-term to external debt stocks (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral to external debt stocks (%) 15.1 28.8 41.6 59.8 53.6 49.6 42.1 39.5 Reserves to external debt stocks (%) 0.5 4.6 5.7 10.5 10.9 13.7 16.1 .. Reserves to imports (months) 0.5 1.6 2.7 4.0 3.6 4.6 6.9 .. 164 LAO PEOPLE'S DEMOCRATIC REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 1,757 2,091 2,459 2,577 2,815 3,350 4,362 4,923 Public and publicly guaranteed 1,757 2,091 2,459 2,034 1,989 2,259 2,515 2,710 Official creditors 1,757 2,091 2,459 2,034 1,989 2,259 2,515 2,710 Multilateral 266 620 1,041 1,564 1,525 1,676 1,847 1,955 of which: IBRD 0 0 0 0 0 0 0 0 IDA 131 285 403 616 598 643 686 685 Bilateral 1,491 1,471 1,418 470 464 584 668 755 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 544 825 1,090 1,847 2,213 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 152 92 77 284 472 491 1,058 629 Public and publicly guaranteed 152 92 77 86 150 125 201 174 Official creditors 152 92 77 86 150 125 201 174 Multilateral 78 92 73 85 113 111 114 84 of which: IBRD 0 0 0 0 0 0 0 0 IDA 32 28 20 37 35 26 27 17 Bilateral 74 0 4 1 37 14 87 90 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 198 321 366 857 454 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 5 17 23 72 79 130 132 132 Public and publicly guaranteed 5 17 23 31 39 29 33 43 Official creditors 5 17 23 31 39 29 33 43 Multilateral 3 4 9 20 22 25 30 40 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 1 4 8 9 9 11 13 Bilateral 3 14 14 11 17 5 3 3 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 41 40 101 100 89 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 3 6 9 43 47 48 54 67 Public and publicly guaranteed 3 6 9 14 14 20 18 23 Official creditors 3 6 9 14 14 20 18 23 Multilateral 2 5 9 13 14 15 16 18 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 2 3 5 5 5 5 5 Bilateral 1 1 0 0 0 5 2 5 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 30 32 28 37 44 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 295 86 -31 293 228 533 1,011 556 Net flows on external debt 146 91 47 204 386 357 923 492 Cross-currency valuation 141 -31 -72 67 -141 54 89 58 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 76 81 89 94 99 106 107 107 Interest 29 29 29 28 28 27 25 25 Private creditors Principal 598 420 376 221 177 133 111 89 Interest 91 67 46 34 24 16 10 5 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country. Long-term private nonguaranteed debt data for 2008 are World Bank staff estimates. 165 LATVIA 1. Summary external debt data External debt stocks .. 463 4,855 12,708 14,505 22,793 39,342 42,108 Long-term external debt .. 271 1,979 5,001 7,013 12,317 22,666 27,192 Public and publicly guaranteed .. 271 827 1,580 1,318 1,553 1,808 2,258 Private nonguaranteed .. 0 1,151 3,421 5,694 10,764 20,858 24,934 Use of IMF credit .. 160 35 0 0 0 0 825 Short-term external debt .. 31 2,842 7,708 7,493 10,476 16,676 14,091 interest arrears on long-term .. 0 0 0 0 0 0 0 Memorandum items .. 0 0 0 0 0 0 0 .. 252 818 1,559 1,300 1,535 1,791 2,243 .. 19 1,160 3,442 5,713 10,782 20,875 24,949 .. 116 98 497 211 3 11 1,325 External debt flows Disbursements .. 75 410 2,425 5,160 6,862 9,281 10,604 Long-term external debt .. 75 410 2,425 5,160 6,862 9,281 9,758 IMF purchases .. 0 0 0 0 0 0 846 Principal repayments .. 10 330 1,055 2,699 2,542 3,036 4,365 Long-term external debt .. 7 319 1,049 2,699 2,542 3,036 4,365 IMF repurchases .. 3 10 6 0 0 0 0 Net flows .. 90 848 3,446 2,246 7,303 12,445 3,655 Long-term external debt .. 68 91 1,376 2,461 4,320 6,245 5,393 Short-term external debt .. 25 767 2,076 -215 2,983 6,200 -2,585 Interest payments .. 24 270 384 545 739 1,453 1,628 Long-term external debt .. 14 107 117 165 290 774 1,166 IMF charges .. 9 2 0 0 0 0 0 Short-term external debt .. 1 161 267 380 449 679 462 2. Other non-debt resource flows Foreign direct investment (net) .. 180 413 637 714 1,664 2,316 1,357 Portfolio equity flows .. 0 -7 32 12 22 -12 -50 Profit remittances on FDI .. 0 92 529 617 983 1,240 611 Grants (excluding technical coop.) .. 24 67 151 0 0 0 0 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 38 15 15 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 86.4 90.1 92.4 94.2 96.2 Japanese yen .. 26.2 4.7 0.9 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.6 0.2 0.2 0.1 0.1 0.1 U.S.dollars .. 45.0 20.0 12.0 9.3 7.2 5.5 3.6 4. Average terms of new commitments Official creditors Interest (%) .. 5.3 5.8 0.0 2.3 3.9 0.0 4.5 Maturity (years) .. 14.1 14.9 0.0 19.4 25.1 0.0 16.0 Grace period (years) .. 4.1 5.8 0.0 7.2 5.1 0.0 16.0 Private creditors Interest (%) .. 5.1 0.0 4.3 0.0 0.0 4.0 5.5 Maturity (years) .. 4.0 0.0 10.0 0.0 0.0 8.7 10.0 Grace period (years) .. 2.5 0.0 10.0 0.0 0.0 0.2 10.0 5. Major economic aggregates Gross national income (GNI) .. 5,259 7,814 13,465 15,839 19,347 27,815 33,080 Exports of goods, services & income .. 2,159 3,447 6,501 8,297 9,862 13,387 15,899 Worker remit. & comp. of employees .. .. 72 229 381 482 552 601 Imports of goods & services .. 2,246 4,010 8,955 10,884 14,862 20,252 21,021 International reserves .. 602 919 2,021 2,360 4,511 5,761 5,244 Current account balance .. -16 -371 -1,762 -1,992 -4,522 -6,485 -4,354 6. Ratios External debt stocks to exports (%) .. 21.4 140.8 195.5 174.8 231.1 293.9 264.8 External debt stocks to GNI (%) .. 8.8 62.1 94.4 91.6 117.8 141.4 127.3 Debt service to exports (%) .. 1.6 17.4 22.1 39.1 33.3 33.5 37.7 Short-term to external debt stocks (%) .. 6.7 58.5 60.6 51.7 46.0 42.4 33.5 Multilateral to external debt stocks (%) .. 30.1 11.2 3.1 2.1 1.9 1.4 1.7 Reserves to external debt stocks (%) .. 130.1 18.9 15.9 16.3 19.8 14.6 12.5 Reserves to imports (months) .. 3.2 2.8 2.7 2.6 3.6 3.4 3.0 166 LATVIA 7. Long-term external debt Debt outstanding and disbursed .. 271 1,979 5,001 7,013 12,317 22,666 27,192 Public and publicly guaranteed .. 271 827 1,580 1,318 1,553 1,808 2,258 Official creditors .. 200 591 446 338 462 582 764 Multilateral .. 139 543 400 311 433 550 734 of which: IBRD .. 55 242 187 111 100 85 61 IDA .. 0 0 0 0 0 0 0 Bilateral .. 61 49 46 27 29 32 30 Private creditors .. 71 236 1,134 980 1,091 1,226 1,494 of which: Bonds .. 39 209 1,124 973 1,087 1,214 1,426 Commercial banks .. 0 2 0 0 0 9 65 Private nonguaranteed .. 0 1,151 3,421 5,694 10,764 20,858 24,934 of which: Bonds .. 0 0 6 124 380 442 278 Disbursements .. 75 410 2,425 5,160 6,862 9,281 9,758 Public and publicly guaranteed .. 75 94 550 21 125 118 915 Official creditors .. 26 91 53 21 125 110 264 Multilateral .. 23 91 53 21 125 110 264 of which: IBRD .. 9 63 6 2 0 0 0 IDA .. 0 0 0 0 0 0 0 Bilateral .. 3 1 0 0 0 0 0 Private creditors .. 49 3 497 0 0 8 650 of which: Bonds .. 43 0 497 0 0 0 587 Commercial banks .. 0 0 0 0 0 8 63 Private nonguaranteed .. 0 316 1,874 5,139 6,737 9,162 8,843 of which: Bonds .. 0 0 6 125 246 0 0 Principal repayments .. 7 319 1,049 2,699 2,542 3,036 4,365 Public and publicly guaranteed .. 7 81 314 96 35 41 343 Official creditors .. 4 73 310 93 32 39 45 Multilateral .. 4 53 306 79 32 39 45 of which: IBRD .. 0 9 14 64 19 22 24 IDA .. 0 0 0 0 0 0 0 Bilateral .. 0 19 3 15 0 0 0 Private creditors .. 3 8 4 3 3 1 298 of which: Bonds .. 0 0 0 0 0 0 294 Commercial banks .. 0 1 0 0 0 0 2 Private nonguaranteed .. 0 239 735 2,603 2,507 2,995 4,022 of which: Bonds .. 0 30 0 0 6 0 139 Interest payments .. 14 107 117 165 290 774 1,166 Public and publicly guaranteed .. 14 50 55 61 67 79 88 Official creditors .. 13 34 35 15 16 22 29 Multilateral .. 9 31 34 14 15 20 28 of which: IBRD .. 3 12 6 7 5 5 4 IDA .. 0 0 0 0 0 0 0 Bilateral .. 4 3 2 1 1 1 2 Private creditors .. 1 16 19 46 51 57 58 of which: Bonds .. 0 15 19 45 51 57 55 Commercial banks .. 0 0 0 0 0 0 3 Private nonguaranteed .. 0 57 62 104 223 696 1,079 of which: Bonds .. 0 2 0 6 16 21 20 8. Debt stock-flow reconciliation Total change in external debt stocks .. 89 794 3,906 1,797 8,287 16,549 2,766 Net flows on external debt .. 90 848 3,446 2,246 7,303 12,445 3,655 Cross-currency valuation .. 5 -49 75 -175 132 163 -91 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 50 60 40 39 50 45 41 40 Interest 33 38 41 42 42 42 41 40 Private creditors Principal 6,461 5,345 3,923 3,051 2,171 2,427 1,311 1,159 Interest 1,315 728 528 391 284 202 114 63 Notes: Short-term debt is based on reports provided by the country. 167 LEBANON 1. Summary external debt data External debt stocks 1,779 2,966 9,851 23,144 23,363 25,138 25,639 24,395 Long-term external debt 358 1,600 7,311 19,173 19,913 20,938 21,440 21,031 Public and publicly guaranteed 358 1,550 6,575 18,427 18,902 20,133 20,910 20,561 Private nonguaranteed 0 50 736 746 1,011 805 530 470 Use of IMF credit 0 0 0 0 0 0 80 117 Short-term external debt 1,421 1,365 2,541 3,971 3,450 4,200 4,118 3,246 interest arrears on long-term 39 10 0 0 0 0 0 0 Memorandum items 132 43 0 0 0 0 0 0 358 1,550 6,549 18,427 18,902 20,133 20,910 20,561 0 50 762 746 1,011 805 530 470 0 1,324 2,188 5,317 2,991 3,704 3,319 2,519 External debt flows Disbursements 12 907 2,313 5,592 3,182 3,814 3,440 2,730 Long-term external debt 12 907 2,313 5,592 3,182 3,814 3,362 2,689 IMF purchases 0 0 0 0 0 0 78 40 Principal repayments 27 104 875 2,980 2,188 3,003 3,049 2,925 Long-term external debt 27 104 875 2,980 2,188 3,003 3,049 2,925 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 726 830 1,777 3,460 473 1,561 309 -1,068 Long-term external debt -16 804 1,438 2,613 994 811 313 -236 Short-term external debt 742 26 339 847 -521 750 -82 -872 Interest payments 72 121 593 1,467 1,464 1,512 1,649 1,617 Long-term external debt 11 54 461 1,282 1,289 1,312 1,434 1,445 IMF charges 0 0 0 0 0 0 2 3 Short-term external debt 61 67 132 185 175 200 213 169 2. Other non-debt resource flows Foreign direct investment (net) 6 35 964 1,899 2,624 2,675 2,731 3,606 Portfolio equity flows 0 0 0 148 1,436 551 791 466 Profit remittances on FDI 0 0 0 91 95 96 64 121 Grants (excluding technical coop.) 213 44 133 141 133 502 474 702 of which: Debt forgiveness grants .. .. 0 0 0 0 14 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 39 94 55 109 104 122 135 132 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.0 7.7 8.2 8.1 8.3 Japanese yen 0.5 0.0 0.1 0.2 0.1 0.1 0.2 0.3 Pound sterling 0.7 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 41.0 69.2 71.4 84.7 88.4 88.4 88.7 88.9 4. Average terms of new commitments Official creditors Interest (%) 0.0 5.6 7.5 3.8 4.7 4.4 4.5 4.4 Maturity (years) 0.0 18.6 14.7 17.5 19.0 21.7 18.6 13.6 Grace period (years) 0.0 3.8 5.2 3.8 4.1 6.3 7.1 3.6 Private creditors Interest (%) 0.0 9.0 9.1 7.1 7.4 7.6 6.1 8.9 Maturity (years) 0.0 7.2 4.9 5.7 5.7 10.3 7.5 5.8 Grace period (years) 0.0 4.4 4.7 5.7 5.4 10.2 4.9 5.8 5. Major economic aggregates Gross national income (GNI) 3,461 12,211 17,143 20,648 21,381 22,320 25,473 26,939 Exports of goods, services & income .. .. .. 18,343 19,500 21,838 25,207 32,523 Worker remit. & comp. of employees 1,818 1,225 1,582 5,591 4,924 5,202 5,769 7,180 Imports of goods & services .. .. .. 19,282 19,053 20,335 24,287 32,502 International reserves 4,210 8,100 8,475 15,774 16,618 19,239 20,599 28,265 Current account balance .. .. .. -4,406 -2,748 -1,151 -1,339 -3,056 6. Ratios External debt stocks to exports (%) .. .. .. 126.2 119.8 115.1 101.7 75.0 External debt stocks to GNI (%) 51.4 24.3 57.5 112.1 109.3 112.6 100.6 90.6 Debt service to exports (%) .. .. .. 24.2 18.7 20.7 18.6 14.0 Short-term to external debt stocks (%) 79.9 46.0 25.8 17.2 14.8 16.7 16.1 13.3 Multilateral to external debt stocks (%) 4.7 6.7 6.2 3.8 3.7 3.6 4.3 4.3 Reserves to external debt stocks (%) 236.7 273.1 86.0 68.2 71.1 76.5 80.3 115.9 Reserves to imports (months) .. .. .. 9.8 10.5 11.4 10.2 10.4 168 LEBANON 7. Long-term external debt Debt outstanding and disbursed 358 1,600 7,311 19,173 19,913 20,938 21,440 21,031 Public and publicly guaranteed 358 1,550 6,575 18,427 18,902 20,133 20,910 20,561 Official creditors 188 428 926 2,054 1,906 1,971 2,149 2,183 Multilateral 84 198 611 890 868 904 1,090 1,044 of which: IBRD 34 113 248 387 360 314 437 368 IDA 0 0 0 0 0 0 0 0 Bilateral 104 230 315 1,165 1,038 1,067 1,059 1,138 Private creditors 169 1,123 5,648 16,373 16,996 18,162 18,762 18,379 of which: Bonds 0 700 5,260 15,453 16,142 17,253 17,707 17,490 Commercial banks 0 359 374 912 847 900 1,047 882 Private nonguaranteed 0 50 736 746 1,011 805 530 470 of which: Bonds 0 50 736 746 1,011 805 530 470 Disbursements 12 907 2,313 5,592 3,182 3,814 3,362 2,689 Public and publicly guaranteed 12 857 2,198 5,392 2,652 3,814 3,362 2,689 Official creditors 5 213 116 135 99 133 271 401 Multilateral 0 80 100 100 71 109 225 138 of which: IBRD 0 51 42 49 32 37 162 40 IDA 0 0 0 0 0 0 0 0 Bilateral 5 133 16 35 28 24 45 262 Private creditors 6 644 2,082 5,258 2,554 3,681 3,091 2,289 of which: Bonds 0 300 2,031 5,195 2,500 3,547 2,738 2,257 Commercial banks 0 340 51 63 54 132 354 31 Private nonguaranteed 0 50 115 200 530 0 0 0 of which: Bonds 0 50 115 200 530 0 0 0 Principal repayments 27 104 875 2,980 2,188 3,003 3,049 2,925 Public and publicly guaranteed 27 104 825 2,830 1,923 2,797 2,774 2,865 Official creditors 27 93 65 120 131 199 283 323 Multilateral 6 10 39 75 81 126 139 176 of which: IBRD 6 4 17 35 38 90 48 116 IDA 0 0 0 0 0 0 0 0 Bilateral 21 83 27 45 50 73 144 147 Private creditors 0 11 760 2,710 1,792 2,598 2,491 2,542 of which: Bonds 0 0 400 2,612 1,695 2,507 2,369 2,430 Commercial banks 0 9 358 96 97 90 121 111 Private nonguaranteed 0 0 50 150 265 206 275 60 of which: Bonds 0 0 50 150 265 206 275 60 Interest payments 11 54 461 1,282 1,289 1,312 1,434 1,445 Public and publicly guaranteed 11 54 404 1,225 1,199 1,238 1,376 1,405 Official creditors 9 19 44 87 80 76 91 93 Multilateral 4 11 32 36 35 36 47 42 of which: IBRD 4 7 14 14 15 18 19 20 IDA 0 0 0 0 0 0 0 0 Bilateral 5 8 12 52 46 39 45 51 Private creditors 2 35 360 1,138 1,119 1,162 1,285 1,312 of which: Bonds 0 20 300 1,080 1,087 1,144 1,252 1,279 Commercial banks 0 12 58 56 31 17 33 32 Private nonguaranteed 0 0 57 57 90 74 57 40 of which: Bonds 0 0 57 57 90 74 57 40 8. Debt stock-flow reconciliation Total change in external debt stocks 755 839 1,650 4,528 219 1,775 501 -1,244 Net flows on external debt 726 830 1,777 3,460 473 1,561 309 -1,068 Cross-currency valuation 17 19 -88 168 -296 171 231 -94 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 368 389 431 411 261 277 222 209 Interest 100 100 96 86 75 66 57 48 Private creditors Principal 2,742 2,355 2,149 1,980 1,953 1,986 927 1,577 Interest 1,306 1,075 918 803 615 465 382 266 Notes: Long-term public and publicly guaranteed debt data are revised from 2004 based on government reports. Long-term private non-guaranteed debt data only cover Bonds. 169 LESOTHO 1. Summary external debt data External debt stocks 395.6 684.4 671.8 766.6 662.0 649.9 677.6 682.3 Long-term external debt 377.7 642.0 656.7 721.6 618.9 613.5 642.2 652.7 Public and publicly guaranteed 377.7 642.0 656.7 721.6 618.9 613.5 642.2 652.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 15.1 38.4 11.1 38.0 35.0 36.3 35.4 29.7 Short-term external debt 2.8 4.0 4.0 7.0 8.0 0.1 0.0 0.0 interest arrears on long-term 0.8 0.0 0.0 0.0 0.0 0.1 0.0 0.0 Memorandum items 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 376.5 641.3 656.4 721.6 618.9 613.5 642.2 652.7 1.2 0.7 0.3 0.0 0.0 0.0 0.0 0.0 46.4 67.4 33.9 60.2 15.0 21.5 40.8 41.5 External debt flows Disbursements 62.0 70.4 69.4 42.8 21.1 28.6 38.3 38.2 Long-term external debt 57.9 70.4 69.4 32.5 21.1 28.6 38.3 38.2 IMF purchases 4.1 0.0 0.0 10.4 0.0 0.0 0.0 0.0 Principal repayments 15.0 24.7 38.3 38.3 65.3 36.1 33.8 29.5 Long-term external debt 14.8 22.0 33.2 37.8 65.3 35.6 31.1 24.5 IMF repurchases 0.2 2.7 5.2 0.6 0.0 0.5 2.7 5.0 Net flows 47.0 45.7 31.0 7.5 -43.2 -15.5 4.5 8.7 Long-term external debt 43.1 48.4 36.2 -5.3 -44.2 -7.0 7.2 13.7 Short-term external debt 0.0 0.0 0.0 3.0 1.0 -8.0 0.0 0.0 Interest payments 8.3 16.1 23.2 15.0 14.2 9.6 64.5 8.0 Long-term external debt 8.0 15.7 22.9 14.7 13.7 9.2 64.3 7.8 IMF charges 0.1 0.2 0.0 0.2 0.2 0.2 0.2 0.2 Short-term external debt 0.2 0.2 0.2 0.2 0.3 0.2 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 17.1 275.3 117.8 123.5 92.6 113.0 106.0 218.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 12.7 71.4 15.0 20.6 10.7 11.6 12.9 8.5 Grants (excluding technical coop.) 59.9 58.7 27.6 67.7 48.8 43.3 95.8 119.0 of which: Debt forgiveness grants .. .. 0.2 0.3 0.3 0.3 0.3 0.3 IDA grants .. .. .. 0.0 0.3 1.0 4.0 9.2 Memo: technical coop. grants 44.5 36.8 11.3 14.2 14.5 16.0 13.6 12.5 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 10.8 9.8 9.8 9.2 7.7 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 1.7 0.8 1.8 1.1 0.9 0.7 0.5 0.4 Swiss franc 0.0 0.0 1.9 0.5 0.2 0.0 0.0 0.0 U.S.dollars 24.8 22.1 26.9 35.1 39.3 41.8 43.2 44.2 4. Average terms of new commitments Official creditors Interest (%) 1.0 5.9 0.3 1.3 1.7 0.8 1.5 1.7 Maturity (years) 25.1 27.5 19.3 34.7 31.0 38.1 33.7 23.9 Grace period (years) 6.2 5.7 5.4 7.8 8.5 10.3 6.9 6.3 Private creditors Interest (%) 8.4 6.5 4.6 0.0 0.0 0.0 0.0 0.0 Maturity (years) 5.9 17.9 2.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.8 4.1 0.5 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 937.4 1227.5 1010.8 1599.5 1680.0 1897.7 2087.5 2042.6 Exports of goods, services & income 555.0 671.4 542.7 1172.6 1079.1 1169.9 1419.3 1493.0 Worker remit. & comp. of employees 428.0 411.0 252.0 354.9 326.6 361.5 443.3 443.3 Imports of goods & services 775.9 1203.8 832.8 1474.4 1474.8 1488.6 1811.7 1757.8 International reserves 72.4 456.7 417.9 501.5 519.1 658.4 .. .. Current account balance 65.0 -323.0 -151.4 -68.0 -102.0 66.3 219.8 244.2 6. Ratios External debt stocks to exports (%) 71.3 101.9 123.8 65.4 61.3 55.6 47.7 45.7 External debt stocks to GNI (%) 42.2 55.8 66.5 47.9 39.4 34.2 32.5 33.4 Debt service to exports (%) 4.2 6.1 11.3 4.6 7.4 3.9 6.9 2.5 Short-term to external debt stocks (%) 0.7 0.6 0.6 0.9 1.2 0.0 0.0 0.0 Multilateral to external debt stocks (%) 73.6 68.2 70.8 73.5 78.3 84.4 86.8 87.9 Reserves to external debt stocks (%) 18.3 66.7 62.2 65.4 78.4 101.3 .. .. Reserves to imports (months) 1.1 4.6 6.0 4.1 4.2 5.3 .. .. 170 LESOTHO 7. Long-term external debt Debt outstanding and disbursed 377.7 642.0 656.7 721.6 618.9 613.5 642.2 652.7 Public and publicly guaranteed 377.7 642.0 656.7 721.6 618.9 613.5 642.2 652.7 Official creditors 344.0 607.1 580.9 651.9 590.6 591.9 624.6 639.7 Multilateral 291.0 466.9 475.7 563.6 518.4 548.2 587.8 599.6 of which: IBRD 0.0 54.0 58.6 16.2 12.7 9.1 4.2 3.3 IDA 111.7 152.8 183.2 267.6 258.2 274.6 293.2 302.7 Bilateral 53.1 140.1 105.3 88.2 72.2 43.7 36.8 40.1 Private creditors 33.7 34.9 75.8 69.7 28.4 21.6 17.5 12.9 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 6.0 22.8 74.5 68.7 27.6 20.8 16.8 12.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 57.9 70.4 69.4 32.5 21.1 28.6 38.3 38.2 Public and publicly guaranteed 57.9 70.4 69.4 32.5 21.1 28.6 38.3 38.2 Official creditors 51.4 54.5 67.4 32.5 21.1 28.5 38.3 37.8 Multilateral 32.0 41.1 21.2 32.5 17.1 28.1 37.6 29.1 of which: IBRD 0.0 11.2 9.9 1.2 0.1 0.0 0.0 0.0 IDA 9.2 8.8 7.8 14.7 13.1 10.8 14.0 17.2 Bilateral 19.4 13.4 46.2 0.0 3.9 0.4 0.6 8.6 Private creditors 6.5 16.0 2.0 0.0 0.0 0.0 0.0 0.4 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.0 16.0 2.0 0.0 0.0 0.0 0.0 0.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 14.8 22.0 33.2 37.8 65.3 35.6 31.1 24.5 Public and publicly guaranteed 14.8 22.0 33.2 37.8 65.3 35.6 31.1 24.5 Official creditors 8.3 17.8 26.4 29.2 32.0 27.5 25.8 21.3 Multilateral 5.4 14.1 14.1 17.8 19.7 19.4 22.0 17.8 of which: IBRD 0.0 0.0 3.9 3.6 3.6 3.6 3.6 1.0 IDA 0.6 1.3 2.5 4.6 5.0 5.3 6.0 6.3 Bilateral 2.9 3.7 12.2 11.4 12.3 8.2 3.8 3.5 Private creditors 6.5 4.2 6.8 8.5 33.3 8.1 5.3 3.2 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.6 2.0 6.8 8.5 33.2 8.0 5.2 3.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 8.0 15.7 22.9 14.7 13.7 9.2 64.3 7.8 Public and publicly guaranteed 8.0 15.7 22.9 14.7 13.7 9.2 64.3 7.8 Official creditors 6.1 12.4 16.0 7.7 7.7 7.1 63.3 6.7 Multilateral 4.7 8.6 7.7 5.4 5.5 5.4 5.4 5.3 of which: IBRD 0.0 3.5 3.2 0.3 0.5 0.6 0.5 0.0 IDA 0.8 1.1 1.4 2.1 2.1 2.1 2.2 2.3 Bilateral 1.4 3.8 8.3 2.3 2.1 1.7 57.9 1.4 Private creditors 1.9 3.3 7.0 7.0 6.0 2.1 1.1 1.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.3 3.0 7.0 7.0 6.0 2.0 1.0 1.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 67.4 61.8 -10.2 63.4 -104.7 -12.1 27.7 4.7 Net flows on external debt 47.0 45.7 31.0 7.5 -43.2 -15.5 4.5 8.7 Cross-currency valuation 7.2 1.5 -27.0 22.4 -38.7 11.0 17.0 8.3 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 3.7 0.0 0.0 0.0 0.0 18.3 5.9 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 23.9 23.6 25.1 26.1 27.9 28.0 26.5 26.1 Interest 6.5 6.5 6.4 6.3 6.1 5.8 5.5 5.2 Private creditors Principal 1.6 0.2 0.2 0.2 0.2 0.2 5.9 0.2 Interest 1.0 0.9 0.9 0.9 0.9 0.9 0.9 0.1 Notes: Large interest payment was made during 2007 to a creditor country to settle a long standing claim. 171 LIBERIA 1. Summary external debt data External debt stocks 2,056 2,478 2,820 3,839 3,928 4,141 3,692 3,484 Long-term external debt 1,119 1,164 1,116 1,253 1,191 1,191 986 1,237 Public and publicly guaranteed 1,119 1,164 1,116 1,253 1,191 1,191 986 1,237 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 322 336 292 347 320 336 352 858 Short-term external debt 615 978 1,413 2,238 2,418 2,614 2,354 1,389 interest arrears on long-term 559 934 1,413 2,238 2,418 2,614 2,354 1,389 Memorandum items 722 961 1,127 1,370 1,307 1,385 1,229 306 1,119 1,164 1,116 1,253 1,191 1,191 986 1,237 0 0 0 0 0 0 0 0 30 0 0 0 0 0 0 0 External debt flows Disbursements 0 0 0 0 0 0 0 881 Long-term external debt 0 0 0 0 0 0 0 0 IMF purchases 0 0 0 0 0 0 0 881 Principal repayments 2 0 1 0 0 1 257 389 Long-term external debt 1 0 0 0 0 0 256 37 IMF repurchases 1 0 1 0 0 1 1 352 Net flows -1 0 -1 0 0 -1 -257 491 Long-term external debt -1 0 0 0 0 0 -256 -37 Short-term external debt 1 0 0 0 0 0 0 0 Interest payments 1 2 0 1 1 0 371 520 Long-term external debt 1 0 0 0 0 0 371 44 IMF charges 0 2 0 1 1 0 0 476 Short-term external debt 0 0 0 0 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 225 5 21 75 83 108 132 144 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 6 7 14 15 23 Grants (excluding technical coop.) 60 108 47 197 172 207 727 1,245 of which: Debt forgiveness grants .. .. 0 0 0 0 0 795 IDA grants .. .. .. 0 0 1 442 9 Memo: technical coop. grants 21 16 23 26 54 54 12 27 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.6 11.5 12.8 17.3 1.1 Japanese yen 6.1 7.7 7.1 7.0 6.5 6.5 8.2 5.8 Pound sterling 1.2 1.1 1.2 1.1 1.1 1.2 1.0 0.5 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 51.0 49.3 57.3 51.8 54.1 54.4 62.8 88.2 4. Average terms of new commitments Official creditors Interest (%) 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 24.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. 389 373 417 444 560 676 Exports of goods, services & income .. .. .. 376 377 570 604 693 Worker remit. & comp. of employees .. .. .. 60 32 79 62 61 Imports of goods & services .. .. .. 1,226 1,318 1,882 1,917 3,020 International reserves .. 28 0 19 25 72 119 .. Current account balance .. .. .. -160 -184 -173 -216 -1,187 6. Ratios External debt stocks to exports (%) .. .. .. 1,022.0 1,040.9 726.6 610.9 502.8 External debt stocks to GNI (%) .. .. 726.0 1,029.2 941.5 933.0 659.4 515.4 Debt service to exports (%) .. .. .. 0.2 0.2 0.1 103.8 131.3 Short-term to external debt stocks (%) 29.9 39.5 50.1 58.3 61.6 63.1 63.8 39.9 Multilateral to external debt stocks (%) 21.1 18.3 14.0 12.2 11.2 10.2 5.3 4.6 Reserves to external debt stocks (%) .. 1.1 0.0 0.5 0.6 1.7 3.2 .. Reserves to imports (months) .. .. .. 0.2 0.2 0.5 0.7 .. 172 LIBERIA 7. Long-term external debt Debt outstanding and disbursed 1,119 1,164 1,116 1,253 1,191 1,191 986 1,237 Public and publicly guaranteed 1,119 1,164 1,116 1,253 1,191 1,191 986 1,237 Official creditors 926 957 919 1,046 993 993 784 1,042 Multilateral 433 453 395 469 440 424 195 161 of which: IBRD 143 161 130 162 146 147 0 0 IDA 105 108 100 111 106 109 77 72 Bilateral 493 503 523 577 553 569 588 881 Private creditors 192 208 197 207 198 199 203 195 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 172 187 180 186 179 178 181 195 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 0 0 0 0 0 0 0 0 Public and publicly guaranteed 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 Multilateral 0 0 0 0 0 0 0 0 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 1 0 0 0 0 0 256 37 Public and publicly guaranteed 1 0 0 0 0 0 256 37 Official creditors 1 0 0 0 0 0 256 37 Multilateral 1 0 0 0 0 0 256 37 of which: IBRD 0 0 0 0 0 0 163 0 IDA 0 0 0 0 0 0 35 4 Bilateral 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1 0 0 0 0 0 371 44 Public and publicly guaranteed 1 0 0 0 0 0 371 44 Official creditors 1 0 0 0 0 0 371 44 Multilateral 1 0 0 0 0 0 371 44 of which: IBRD 0 0 0 0 0 0 292 0 IDA 0 0 0 0 0 0 18 1 Bilateral 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 182 130 249 227 89 214 -450 -208 Net flows on external debt -1 0 -1 0 0 -1 -257 491 Cross-currency valuation 63 23 -32 60 -79 33 -10 1 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 783 Total amount forgiven 0 0 0 0 0 0 0 226 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 12 11 11 11 9 17 15 13 Interest 2 2 8 7 7 7 6 6 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt are revised based on the original terms of the loans and reports provided by Paris Club. Data include the effects of Paris Club rescheduling agreement signed in 2008. However, the effects of 2008 Paris Club agreement is not completed at end of the year. Short-term debt data are not available from 1996. 173 LITHUANIA 1. Summary external debt data External debt stocks .. 769 4,723 10,491 11,429 18,565 29,424 31,719 Long-term external debt .. 459 3,417 6,699 6,104 12,859 21,661 23,550 Public and publicly guaranteed .. 430 2,206 3,078 1,998 4,582 5,860 5,329 Private nonguaranteed .. 29 1,211 3,621 4,107 8,277 15,800 18,222 Use of IMF credit .. 262 192 26 0 0 0 0 Short-term external debt .. 49 1,114 3,766 5,325 5,706 7,763 8,169 interest arrears on long-term .. 0 0 0 0 0 0 0 Memorandum items .. 0 0 0 0 0 0 0 .. 424 2,128 3,045 1,975 4,569 5,852 5,325 .. 34 1,290 3,654 4,130 8,290 15,809 18,225 .. 422 828 1,270 0 2,513 822 110 External debt flows Disbursements .. 219 1,165 3,059 2,863 9,400 14,461 11,120 Long-term external debt .. 157 1,165 3,059 2,863 9,400 14,461 11,120 IMF purchases .. 63 0 0 0 0 0 0 Principal repayments .. 12 826 1,418 2,279 3,739 7,717 8,385 Long-term external debt .. 12 799 1,399 2,255 3,739 7,717 8,385 IMF repurchases .. 0 27 20 25 0 0 0 Net flows .. 228 383 2,129 2,143 6,042 8,801 3,142 Long-term external debt .. 144 366 1,660 608 5,661 6,744 2,736 Short-term external debt .. 20 44 489 1,559 381 2,057 406 Interest payments .. 31 281 347 323 436 748 1,043 Long-term external debt .. 17 215 236 173 275 529 798 IMF charges .. 12 11 1 0 0 0 0 Short-term external debt .. 2 55 110 150 161 219 245 2. Other non-debt resource flows Foreign direct investment (net) .. 0 0 773 1,032 1,840 2,017 1,927 Portfolio equity flows .. 0 0 8 130 72 -166 113 Profit remittances on FDI .. 0 0 649 711 878 1,423 1,056 Grants (excluding technical coop.) .. 18 66 237 0 0 0 0 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 116 23 25 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 78.8 80.7 96.3 98.2 98.4 Japanese yen .. 9.8 2.9 0.5 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 3.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 34.4 32.9 18.1 18.2 3.4 1.6 1.5 4. Average terms of new commitments Official creditors Interest (%) .. 6.3 7.1 3.7 0.0 1.6 0.0 0.0 Maturity (years) .. 14.6 13.0 8.0 0.0 10.0 0.0 0.0 Grace period (years) .. 4.4 7.8 0.8 0.0 10.0 0.0 0.0 Private creditors Interest (%) .. 8.1 7.8 4.5 0.0 4.8 4.9 5.5 Maturity (years) .. 5.4 5.0 9.1 0.0 8.1 10.3 13.0 Grace period (years) .. 1.2 4.8 9.0 0.0 8.1 10.3 1.0 5. Major economic aggregates Gross national income (GNI) .. 7,608 11,240 21,937 25,339 29,270 37,281 45,787 Exports of goods, services & income .. 3,243 5,297 12,267 15,637 19,110 23,157 30,808 Worker remit. & comp. of employees .. 1 50 325 534 994 1,433 1,460 Imports of goods & services .. 3,966 6,212 14,288 17,820 22,307 28,836 36,318 International reserves .. 829 1,363 3,594 3,816 5,773 7,721 6,442 Current account balance .. -614 -675 -1,725 -1,831 -3,218 -5,692 -5,703 6. Ratios External debt stocks to exports (%) .. 23.7 89.2 85.5 73.1 97.1 127.1 103.0 External debt stocks to GNI (%) .. 10.1 42.0 47.8 45.1 63.4 78.9 69.3 Debt service to exports (%) .. 1.3 20.9 14.4 16.6 21.8 36.6 30.6 Short-term to external debt stocks (%) .. 6.4 23.6 35.9 46.6 30.7 26.4 25.8 Multilateral to external debt stocks (%) .. 21.1 9.5 4.2 2.6 1.6 0.7 0.6 Reserves to external debt stocks (%) .. 107.7 28.9 34.3 33.4 31.1 26.2 20.3 Reserves to imports (months) .. 2.5 2.6 3.0 2.6 3.1 3.2 2.1 174 LITHUANIA 7. Long-term external debt Debt outstanding and disbursed .. 459 3,417 6,699 6,104 12,859 21,661 23,550 Public and publicly guaranteed .. 430 2,206 3,078 1,998 4,582 5,860 5,329 Official creditors .. 317 670 698 462 308 221 190 Multilateral .. 163 447 444 298 301 217 188 of which: IBRD .. 62 253 197 86 81 24 27 IDA .. 0 0 0 0 0 0 0 Bilateral .. 154 223 255 164 7 5 2 Private creditors .. 113 1,537 2,379 1,536 4,274 5,639 5,138 of which: Bonds .. 0 1,130 2,077 1,416 4,214 5,594 5,114 Commercial banks .. 1 188 201 69 56 44 23 Private nonguaranteed .. 29 1,211 3,621 4,107 8,277 15,800 18,222 of which: Bonds .. 0 37 0 0 0 1,030 1,030 Disbursements .. 157 1,165 3,059 2,863 9,400 14,461 11,120 Public and publicly guaranteed .. 157 479 1,322 45 2,540 841 116 Official creditors .. 92 146 60 45 28 19 6 Multilateral .. 38 139 52 42 28 19 6 of which: IBRD .. 12 66 22 14 10 0 6 IDA .. 0 0 0 0 0 0 0 Bilateral .. 54 7 8 3 0 0 0 Private creditors .. 64 333 1,263 0 2,511 822 110 of which: Bonds .. 0 300 1,243 0 2,511 822 110 Commercial banks .. 1 31 20 0 0 0 0 Private nonguaranteed .. 0 686 1,736 2,818 6,860 13,620 11,004 of which: Bonds .. 0 37 0 0 0 1,030 0 Principal repayments .. 12 799 1,399 2,255 3,739 7,717 8,385 Public and publicly guaranteed .. 12 310 594 804 275 147 344 Official creditors .. 3 82 189 235 209 129 28 Multilateral .. 0 62 147 144 52 126 25 of which: IBRD .. 0 9 115 111 19 58 3 IDA .. 0 0 0 0 0 0 0 Bilateral .. 3 19 42 91 157 3 2 Private creditors .. 9 229 405 569 66 19 316 of which: Bonds .. 0 25 50 405 0 0 294 Commercial banks .. 0 146 330 115 18 17 21 Private nonguaranteed .. 0 489 805 1,451 3,464 7,570 8,041 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 17 215 236 173 275 529 798 Public and publicly guaranteed .. 17 136 152 106 161 156 251 Official creditors .. 13 35 32 36 24 14 10 Multilateral .. 9 26 23 26 14 14 10 of which: IBRD .. 4 15 14 15 4 3 1 IDA .. 0 0 0 0 0 0 0 Bilateral .. 4 9 9 10 10 0 0 Private creditors .. 4 100 120 70 137 142 241 of which: Bonds .. 0 63 73 55 131 139 239 Commercial banks .. 0 20 37 7 3 3 2 Private nonguaranteed .. 0 80 84 67 114 373 547 of which: Bonds .. 0 0 0 0 0 41 58 8. Debt stock-flow reconciliation Total change in external debt stocks .. 267 308 3,008 938 7,136 10,859 2,296 Net flows on external debt .. 228 383 2,129 2,143 6,042 8,801 3,142 Cross-currency valuation .. 13 -95 93 -335 190 522 -316 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 35 20 20 19 19 19 18 19 Interest 6 5 4 4 3 2 2 1 Private creditors Principal 4,670 4,281 1,929 3,116 2,771 1,735 658 2,078 Interest 929 717 614 527 376 236 193 159 Notes: Long-term private nonguaranteed debt data from 2005 are revised based on government reports. Short-term debt data are based on government statistics from 1996. 175 MACEDONIA, FYR 1. Summary external debt data External debt stocks .. 1,277 1,469 2,817 2,971 3,284 4,161 4,678 Long-term external debt .. 1,078 1,333 1,920 2,109 2,362 2,564 2,950 Public and publicly guaranteed .. 788 1,206 1,556 1,638 1,556 1,520 1,538 Private nonguaranteed .. 289 127 364 471 805 1,044 1,412 Use of IMF credit .. 57 81 63 62 56 0 0 Short-term external debt .. 143 55 834 800 867 1,597 1,729 interest arrears on long-term .. 143 4 9 9 15 28 33 Memorandum items .. 216 19 43 36 49 108 127 .. 785 1,201 1,554 1,636 1,555 1,519 1,537 .. 293 132 366 473 807 1,044 1,412 .. 206 123 84 274 130 103 155 External debt flows Disbursements .. 112 155 281 334 399 538 812 Long-term external debt .. 75 151 269 318 399 538 812 IMF purchases .. 38 4 12 16 0 0 0 Principal repayments .. 20 93 193 182 439 542 295 Long-term external debt .. 19 74 173 171 430 485 295 IMF repurchases .. 1 19 20 11 10 57 0 Net flows .. 74 59 871 118 22 713 643 Long-term external debt .. 56 78 97 147 -30 52 517 Short-term external debt .. -18 -3 783 -34 61 717 126 Interest payments .. 11 45 88 92 124 163 184 Long-term external debt .. 9 37 48 54 82 88 105 IMF charges .. 2 3 1 1 2 1 0 Short-term external debt .. 1 5 39 37 40 74 80 2. Other non-debt resource flows Foreign direct investment (net) .. 9 175 323 97 424 320 598 Portfolio equity flows .. 0 0 13 54 86 165 -49 Profit remittances on FDI .. 0 7 69 140 62 118 247 Grants (excluding technical coop.) .. 18 174 142 112 103 136 144 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 16 30 105 98 96 59 46 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 34.4 40.9 52.3 63.0 64.8 Japanese yen .. 6.5 0.4 0.1 0.2 0.5 1.4 3.1 Pound sterling .. 1.1 0.2 0.1 0.1 0.1 0.0 0.0 Swiss franc .. 0.9 2.4 0.8 0.6 0.5 0.1 0.0 U.S.dollars .. 49.7 71.8 62.5 56.6 44.8 34.3 31.0 4. Average terms of new commitments Official creditors Interest (%) .. 3.8 5.5 2.3 3.1 3.8 5.0 5.2 Maturity (years) .. 23.0 19.5 18.3 16.7 16.8 17.0 17.4 Grace period (years) .. 6.7 6.4 5.5 5.1 5.4 5.0 4.6 Private creditors Interest (%) .. 2.3 9.2 0.0 4.6 5.8 0.0 1.8 Maturity (years) .. 29.7 3.4 0.0 10.0 16.3 0.0 4.3 Grace period (years) .. 10.9 0.5 0.0 9.9 3.9 0.0 0.1 5. Major economic aggregates Gross national income (GNI) .. 4,410 3,522 5,329 5,701 6,336 7,638 9,431 Exports of goods, services & income .. .. 1,760 2,373 2,823 3,330 4,620 5,521 Worker remit. & comp. of employees .. .. 81 213 227 267 345 407 Imports of goods & services .. .. 2,386 3,444 3,864 4,426 6,007 7,913 International reserves .. 275 460 991 1,340 1,889 2,264 2,110 Current account balance .. .. -98 -453 -158 -56 -247 -1,210 6. Ratios External debt stocks to exports (%) .. .. 83.5 118.7 105.2 98.6 90.1 84.7 External debt stocks to GNI (%) .. 29.0 41.7 52.9 52.1 51.8 54.5 49.6 Debt service to exports (%) .. .. 7.9 11.9 9.7 16.9 15.3 8.7 Short-term to external debt stocks (%) .. 11.2 3.7 29.6 26.9 26.4 38.4 37.0 Multilateral to external debt stocks (%) .. 22.6 38.8 33.5 30.8 31.3 25.0 21.7 Reserves to external debt stocks (%) .. 21.5 31.3 35.2 45.1 57.5 54.4 45.1 Reserves to imports (months) .. .. 2.3 3.5 4.2 5.1 4.5 3.2 176 MACEDONIA, FYR 7. Long-term external debt Debt outstanding and disbursed .. 1,078 1,333 1,920 2,109 2,362 2,564 2,950 Public and publicly guaranteed .. 788 1,206 1,556 1,638 1,556 1,520 1,538 Official creditors .. 605 921 1,284 1,203 1,298 1,239 1,245 Multilateral .. 288 570 942 914 1,028 1,040 1,015 of which: IBRD .. 97 116 218 244 259 193 230 IDA .. 84 249 387 364 383 394 361 Bilateral .. 317 352 341 289 270 199 230 Private creditors .. 184 284 272 435 258 281 293 of which: Bonds .. 0 0 0 177 198 221 209 Commercial banks .. 103 274 265 252 56 57 79 Private nonguaranteed .. 289 127 364 471 805 1,044 1,412 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 75 151 269 318 399 538 812 Public and publicly guaranteed .. 75 98 150 294 111 142 162 Official creditors .. 74 96 135 105 82 138 131 Multilateral .. 74 79 112 94 71 108 79 of which: IBRD .. 20 13 43 54 11 54 45 IDA .. 42 38 14 8 5 0 0 Bilateral .. 0 17 23 11 11 31 52 Private creditors .. 0 1 15 189 29 3 32 of which: Bonds .. 0 0 0 187 0 0 0 Commercial banks .. 0 0 15 2 28 3 30 Private nonguaranteed .. 0 54 119 25 289 396 650 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 19 74 173 171 430 485 295 Public and publicly guaranteed .. 19 25 82 81 307 294 78 Official creditors .. 19 23 65 67 79 286 74 Multilateral .. 19 20 30 31 36 171 52 of which: IBRD .. 19 3 11 11 12 134 8 IDA .. 0 0 1 2 4 5 6 Bilateral .. 0 3 35 36 43 115 21 Private creditors .. 0 2 17 14 228 8 5 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 2 17 14 227 6 4 Private nonguaranteed .. 0 49 90 90 123 191 217 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 9 37 48 54 82 88 105 Public and publicly guaranteed .. 9 30 37 41 52 51 54 Official creditors .. 9 20 30 32 37 38 41 Multilateral .. 9 19 19 20 23 29 33 of which: IBRD .. 8 7 6 7 10 11 9 IDA .. 0 2 3 3 3 3 3 Bilateral .. 0 1 11 12 13 9 8 Private creditors .. 0 10 7 9 15 12 14 of which: Bonds .. 0 0 0 0 9 10 10 Commercial banks .. 0 10 6 8 6 2 3 Private nonguaranteed .. 0 7 11 13 30 38 50 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 174 44 939 154 314 876 518 Net flows on external debt .. 74 59 871 118 22 713 643 Cross-currency valuation .. -41 -36 54 -98 90 106 -67 9. Debt restructurings Total amount rescheduled .. 256 44 0 0 0 0 0 Total amount forgiven .. 0 0 15 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 110 116 99 97 97 102 101 100 Interest 32 30 28 26 24 22 20 17 Private creditors Principal 256 177 179 184 67 52 242 81 Interest 89 76 70 74 48 37 34 24 Notes: The former Yugoslav Republic of Macedonia became a member of World Bank in 1993. Debt outstanding as of end-1993 reflects only loans used directly by Macedonian beneficiaries. Short-term debt includes intercompany lending and is based on Central Bank data from 2004. 177 MADAGASCAR 1. Summary external debt data External debt stocks 3,689 4,302 4,691 3,788 3,490 1,488 1,703 2,086 Long-term external debt 3,320 3,687 4,286 3,487 3,179 1,238 1,407 1,728 Public and publicly guaranteed 3,320 3,687 4,286 3,487 3,179 1,238 1,407 1,722 Private nonguaranteed 0 0 0 0 0 0 0 6 Use of IMF credit 144 73 104 226 212 29 43 99 Short-term external debt 225 542 301 76 99 221 254 258 interest arrears on long-term 126 486 203 76 72 186 189 188 Memorandum items 266 1,194 665 228 218 223 196 197 3,244 3,555 4,164 3,432 3,133 1,234 1,403 1,720 76 133 122 54 46 4 3 9 211 80 187 161 295 280 192 506 External debt flows Disbursements 231 90 200 525 265 291 273 394 Long-term external debt 213 90 150 473 249 280 261 335 IMF purchases 17 0 50 52 17 12 12 59 Principal repayments 121 38 79 52 48 46 9 11 Long-term external debt 69 24 74 45 38 46 9 11 IMF repurchases 51 15 5 6 10 0 0 0 Net flows 194 59 45 460 244 254 294 388 Long-term external debt 144 66 76 428 211 234 252 324 Short-term external debt 83 7 -76 -13 27 8 30 5 Interest payments 102 20 38 31 30 24 13 13 Long-term external debt 85 16 28 30 28 22 10 11 IMF charges 10 0 0 1 1 0 0 0 Short-term external debt 7 3 9 0 1 2 3 2 2. Other non-debt resource flows Foreign direct investment (net) 22 10 83 53 85 294 777 1,477 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 1 3 4 21 38 0 0 0 Grants (excluding technical coop.) 348 164 113 906 802 2,744 507 416 of which: Debt forgiveness grants .. .. 24 535 504 2,400 85 5 IDA grants .. .. .. 91 4 5 11 5 Memo: technical coop. grants 84 124 85 95 95 111 135 84 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.5 2.3 5.8 3.1 2.5 Japanese yen 6.9 7.7 7.4 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 1.4 1.3 0.9 0.2 0.1 0.4 0.4 0.3 U.S.dollars 42.5 45.0 56.8 69.9 72.0 55.9 57.3 54.0 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.1 0.8 0.7 0.8 0.8 1.1 1.3 Maturity (years) 36.4 36.8 40.1 41.3 37.8 43.7 33.5 31.3 Grace period (years) 9.7 9.6 10.2 9.8 9.8 10.1 9.0 6.9 Private creditors Interest (%) 5.0 0.0 0.0 0.0 1.0 0.0 0.0 4.3 Maturity (years) 5.1 0.0 0.0 0.0 30.8 0.0 0.0 3.9 Grace period (years) 1.1 0.0 0.0 0.0 11.3 0.0 0.0 0.3 5. Major economic aggregates Gross national income (GNI) 2,958 3,002 3,807 4,285 4,960 5,435 7,288 8,894 Exports of goods, services & income 490 765 1,210 1,435 1,357 .. .. .. Worker remit. & comp. of employees 8 14 11 12 11 11 11 11 Imports of goods & services 985 1,161 1,584 2,154 2,146 .. .. .. International reserves 92 109 285 504 481 583 847 982 Current account balance -265 -276 -260 -399 -554 .. .. .. 6. Ratios External debt stocks to exports (%) 753.0 562.2 387.6 264.0 257.2 .. .. .. External debt stocks to GNI (%) 124.7 143.3 123.2 88.4 70.4 27.4 23.4 23.4 Debt service to exports (%) 45.5 7.6 9.6 5.7 5.8 .. .. .. Short-term to external debt stocks (%) 6.1 12.6 6.4 2.0 2.8 14.8 14.9 12.4 Multilateral to external debt stocks (%) 33.4 39.3 39.0 74.9 81.3 59.7 64.2 66.0 Reserves to external debt stocks (%) 2.5 2.5 6.1 13.3 13.8 39.2 49.7 47.1 Reserves to imports (months) 1.1 1.1 2.2 2.8 2.7 .. .. .. 178 MADAGASCAR 7. Long-term external debt Debt outstanding and disbursed 3,320 3,687 4,286 3,487 3,179 1,238 1,407 1,728 Public and publicly guaranteed 3,320 3,687 4,286 3,487 3,179 1,238 1,407 1,722 Official creditors 3,180 3,603 4,247 3,475 3,170 1,232 1,400 1,716 Multilateral 1,231 1,690 1,828 2,836 2,839 888 1,093 1,377 of which: IBRD 26 12 0 0 0 0 0 0 IDA 770 1,110 1,378 2,269 2,298 636 865 1,066 Bilateral 1,949 1,913 2,419 639 331 343 307 338 Private creditors 140 84 39 12 9 6 6 7 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 38 28 23 10 8 5 5 6 Private nonguaranteed 0 0 0 0 0 0 0 6 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 213 90 150 473 249 280 261 335 Public and publicly guaranteed 213 90 150 473 249 280 261 332 Official creditors 212 89 150 473 249 280 261 331 Multilateral 136 78 143 308 248 256 250 299 of which: IBRD 0 0 0 0 0 0 0 0 IDA 64 76 94 227 221 178 198 211 Bilateral 77 11 7 166 1 24 10 32 Private creditors 1 1 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 3 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 69 24 74 45 38 46 9 11 Public and publicly guaranteed 69 24 74 45 38 46 9 10 Official creditors 53 19 73 43 37 42 8 10 Multilateral 19 18 37 29 22 28 7 5 of which: IBRD 3 4 0 0 0 0 0 0 IDA 3 7 17 10 11 16 0 1 Bilateral 34 1 36 14 15 14 1 4 Private creditors 16 5 0 2 1 3 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 11 1 0 2 1 3 0 0 Private nonguaranteed 0 0 0 0 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 85 16 28 30 28 22 10 11 Public and publicly guaranteed 85 16 28 30 28 22 10 11 Official creditors 72 15 28 29 28 22 10 11 Multilateral 18 12 17 22 22 17 9 10 of which: IBRD 2 1 0 0 0 0 0 0 IDA 5 8 10 16 17 12 6 7 Bilateral 54 4 11 7 6 5 1 1 Private creditors 13 1 0 1 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 10 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 271 226 -53 -1,156 -298 -2,002 216 382 Net flows on external debt 194 59 45 460 244 254 294 388 Cross-currency valuation 181 -45 -161 146 -229 -2,104 -8 0 9. Debt restructurings Total amount rescheduled 88 0 0 0 31 11 1 11 Total amount forgiven 185 0 0 1,412 98 2,273 143 6 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 59 62 48 49 47 56 63 54 Interest 17 18 18 19 19 19 18 18 Private creditors Principal 2 1 1 1 1 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Madagascar was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 179 MALAWI 1. Summary external debt data External debt stocks 1,556.8 2,237.8 2,704.9 3,427.3 3,183.2 872.4 835.8 963.1 Long-term external debt 1,383.5 2,078.3 2,544.1 3,295.6 3,061.8 788.9 804.8 838.5 Public and publicly guaranteed 1,381.0 2,078.3 2,544.1 3,295.6 3,061.8 788.9 804.8 838.5 Private nonguaranteed 2.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 115.0 116.0 82.5 92.5 75.2 19.5 31.0 124.7 Short-term external debt 58.4 43.5 78.3 39.3 46.2 64.0 0.0 0.0 interest arrears on long-term 6.4 1.4 36.7 28.3 34.2 0.0 0.0 0.0 Memorandum items 19.2 7.2 72.3 1.7 13.3 0.0 0.0 0.0 1,370.9 2,075.2 2,541.4 3,293.8 3,061.8 788.9 804.8 838.5 12.5 3.1 2.7 1.7 0.0 0.0 0.0 0.0 258.8 102.3 58.5 102.6 24.7 20.1 80.3 146.4 External debt flows Disbursements 161.0 226.7 127.0 85.7 96.5 108.4 79.1 162.5 Long-term external debt 135.8 215.1 118.6 85.7 88.5 94.0 68.9 65.6 IMF purchases 25.3 11.6 8.5 0.0 8.0 14.5 10.2 97.0 Principal repayments 85.9 75.3 41.8 35.2 52.3 64.9 19.7 17.3 Long-term external debt 66.6 65.5 32.7 25.8 37.8 47.8 19.7 17.3 IMF repurchases 19.3 9.9 9.1 9.5 14.5 17.1 0.0 0.0 Net flows 87.9 183.4 83.3 35.4 45.3 95.5 -4.6 145.2 Long-term external debt 69.2 149.6 85.8 59.9 50.8 46.2 49.2 48.3 Short-term external debt 12.8 32.1 -1.9 -15.0 1.0 52.0 -64.0 0.0 Interest payments 46.7 42.7 21.1 24.9 23.4 22.0 14.1 15.9 Long-term external debt 36.3 38.7 17.9 23.3 21.8 19.0 12.2 15.6 IMF charges 6.0 1.4 0.4 1.0 1.2 1.0 0.1 0.3 Short-term external debt 4.3 2.5 2.9 0.6 0.5 1.9 1.8 0.0 2. Other non-debt resource flows Foreign direct investment (net) 23.3 5.6 26.0 107.7 26.5 29.7 54.6 37.0 Portfolio equity flows 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 5.3 8.6 15.1 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 226.7 262.4 227.4 402.3 456.9 2,727.3 810.0 702.9 of which: Debt forgiveness grants .. .. 14.0 53.7 44.5 2,307.9 219.0 16.9 IDA grants .. .. .. 12.8 70.7 29.5 63.6 40.5 Memo: technical coop. grants 110.5 87.4 110.6 107.5 100.6 99.6 73.7 73.7 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.4 3.3 8.7 5.2 3.7 Japanese yen 9.3 12.3 8.4 7.0 6.2 0.0 0.0 0.0 Pound sterling 16.8 9.0 6.2 4.9 4.8 0.0 0.0 0.0 Swiss franc 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 46.9 53.6 65.9 65.0 65.8 57.0 59.0 56.9 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.0 0.8 1.0 1.4 0.8 1.8 1.0 Maturity (years) 39.5 38.6 44.7 37.6 41.4 34.6 39.2 36.9 Grace period (years) 9.4 9.6 10.1 8.6 8.9 10.7 10.4 14.0 Private creditors Interest (%) 8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 11.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,837.5 1,350.1 1,707.2 2,582.1 2,813.4 3,125.3 3,562.7 4,245.5 Exports of goods, services & income 452.4 473.8 471.4 .. .. .. .. .. Worker remit. & comp. of employees .. 1.0 1.0 1.0 1.0 1.0 1.0 1.0 Imports of goods & services 637.7 708.2 679.6 .. .. .. .. .. International reserves 142.1 115.0 246.5 133.7 165.5 141.9 227.3 .. Current account balance -86.2 -78.0 -73.5 .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 344.1 472.3 573.8 .. .. .. .. .. External debt stocks to GNI (%) 84.7 165.8 158.4 132.7 113.1 27.9 23.5 22.7 Debt service to exports (%) 29.3 24.9 13.3 .. .. .. .. .. Short-term to external debt stocks (%) 3.7 1.9 2.9 1.1 1.5 7.3 .. .. Multilateral to external debt stocks (%) 69.9 76.3 75.6 79.9 80.5 49.4 52.3 50.3 Reserves to external debt stocks (%) 9.1 5.1 9.1 3.9 5.2 16.3 27.2 .. Reserves to imports (months) 2.7 1.9 4.4 .. .. .. .. .. 180 MALAWI 7. Long-term external debt Debt outstanding and disbursed 1,383.5 2,078.3 2,544.1 3,295.6 3,061.8 788.9 804.8 838.5 Public and publicly guaranteed 1,381.0 2,078.3 2,544.1 3,295.6 3,061.8 788.9 804.8 838.5 Official creditors 1,303.3 2,049.9 2,526.1 3,287.9 3,043.4 777.6 793.2 827.8 Multilateral 1,087.6 1,708.3 2,044.4 2,738.4 2,561.4 430.8 436.9 484.6 of which: IBRD 90.7 55.0 8.5 0.3 0.0 0.0 0.0 0.0 IDA 763.5 1,251.3 1,592.2 2,075.3 1,940.4 156.9 177.6 187.7 Bilateral 215.7 341.6 481.8 549.4 482.1 346.7 356.3 343.2 Private creditors 77.7 28.4 17.9 7.7 18.4 11.4 11.6 10.6 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 35.4 0.0 0.0 5.7 16.7 10.0 10.3 9.7 Private nonguaranteed 2.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 135.8 215.1 118.6 85.7 88.5 94.0 68.9 65.6 Public and publicly guaranteed 135.8 215.1 118.6 85.7 88.5 94.0 68.9 65.6 Official creditors 128.5 215.1 118.6 85.7 88.5 94.0 68.9 65.6 Multilateral 118.1 97.3 118.6 85.7 87.7 82.2 51.5 61.8 of which: IBRD 2.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 98.6 73.3 97.0 62.0 45.1 46.2 13.8 11.9 Bilateral 10.4 117.8 0.0 0.0 0.8 11.7 17.4 3.8 Private creditors 7.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 66.6 65.5 32.7 25.8 37.8 47.8 19.7 17.3 Public and publicly guaranteed 65.4 65.5 32.7 25.8 37.8 47.8 19.7 17.3 Official creditors 61.0 42.6 32.7 23.8 35.2 46.2 18.9 17.2 Multilateral 20.0 28.3 30.1 18.7 29.7 40.9 8.1 6.9 of which: IBRD 7.8 11.7 7.6 0.5 0.2 0.0 0.0 0.0 IDA 2.5 7.1 15.8 11.1 12.4 25.9 0.0 0.2 Bilateral 41.1 14.3 2.6 5.1 5.5 5.4 10.8 10.3 Private creditors 4.4 22.8 0.0 2.0 2.5 1.5 0.9 0.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 10.5 0.0 1.9 2.4 1.4 0.8 0.0 Private nonguaranteed 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 36.3 38.7 17.9 23.3 21.8 19.0 12.2 15.6 Public and publicly guaranteed 36.0 38.7 17.9 23.3 21.8 19.0 12.2 15.6 Official creditors 30.4 35.2 17.9 22.8 21.6 18.8 12.0 15.4 Multilateral 18.9 25.2 17.2 20.2 20.1 17.6 4.5 4.7 of which: IBRD 7.7 6.5 1.0 0.0 0.0 0.0 0.0 0.0 IDA 5.0 9.3 11.7 13.8 14.2 10.7 1.3 1.4 Bilateral 11.6 10.0 0.6 2.6 1.5 1.2 7.5 10.7 Private creditors 5.6 3.6 0.0 0.5 0.2 0.2 0.3 0.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.3 0.6 0.0 0.5 0.2 0.2 0.3 0.3 Private nonguaranteed 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 148.2 217.7 -36.4 329.1 -244.2 -2,310.8 -36.6 127.3 Net flows on external debt 87.9 183.4 83.3 35.4 45.3 95.5 -4.6 145.2 Cross-currency valuation 22.0 -91.4 -111.0 78.2 -230.1 -2,021.5 -11.2 2.3 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 2.4 1.0 179.7 24.0 0.0 Total amount forgiven 50.8 0.0 0.0 56.4 49.8 2,456.3 56.1 16.3 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 25.3 26.4 27.6 27.4 29.4 28.3 28.0 27.8 Interest 15.4 15.6 15.5 15.2 14.8 14.3 13.8 13.3 Private creditors Principal 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Interest 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 Notes: Malawi was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. Data include the effects of Paris Club restructuring agreement signed in 2006. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $685 in thousands and $835 in thousands respectively. 181 MALAYSIA 1. Summary external debt data External debt stocks 15,328 34,343 41,874 52,156 51,981 55,026 61,567 66,182 Long-term external debt 13,422 27,069 37,300 40,723 38,805 43,223 38,467 43,382 Public and publicly guaranteed 11,592 16,023 19,234 25,570 22,449 22,599 18,441 21,464 Private nonguaranteed 1,830 11,046 18,067 15,153 16,356 20,624 20,026 21,918 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 1,906 7,274 4,573 11,432 13,176 11,803 23,100 22,800 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 11,592 16,023 19,135 25,474 22,431 22,588 18,437 21,464 1,830 11,046 18,166 15,249 16,374 20,635 20,030 21,918 701 3,772 5,464 2,436 1,212 1,990 202 2,533 External debt flows Disbursements 1,683 8,503 5,921 7,786 6,050 7,038 5,037 5,180 Long-term external debt 1,683 8,503 5,921 7,786 6,050 7,038 5,037 5,180 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 3,167 4,450 4,146 7,102 7,192 5,269 7,818 6,258 Long-term external debt 3,167 4,450 4,146 7,102 7,192 5,269 7,818 6,258 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -1,851 5,138 337 3,491 601 396 8,517 -1,378 Long-term external debt -1,484 4,053 1,775 684 -1,142 1,769 -2,780 -1,078 Short-term external debt -367 1,085 -1,439 2,807 1,744 -1,373 11,297 -300 Interest payments 1,166 1,591 2,299 2,089 2,197 2,362 2,618 2,515 Long-term external debt 997 1,150 2,033 1,783 1,872 1,882 2,024 2,038 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 169 441 266 306 325 480 594 476 2. Other non-debt resource flows Foreign direct investment (net) 2,332 4,178 3,788 4,624 3,966 6,076 8,454 7,376 Portfolio equity flows 0 0 0 4,509 -1,200 2,355 -669 -10,716 Profit remittances on FDI 1,926 4,144 7,173 7,757 8,330 8,858 9,839 13,838 Grants (excluding technical coop.) 42 11 9 23 20 16 16 22 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 125 121 82 64 50 46 45 40 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.2 4.1 4.5 6.2 5.0 Japanese yen 36.5 34.6 27.6 22.8 22.3 19.6 20.8 20.7 Pound sterling 1.6 1.0 0.7 0.6 0.6 0.6 0.8 0.5 Swiss franc 3.6 3.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 31.8 48.5 62.8 70.0 70.8 73.5 70.6 72.7 4. Average terms of new commitments Official creditors Interest (%) 4.0 3.4 3.1 0.0 0.0 0.0 0.0 0.0 Maturity (years) 22.9 24.4 24.1 0.0 0.0 0.0 0.0 0.0 Grace period (years) 6.7 6.3 3.5 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 8.9 6.3 7.0 3.0 5.2 5.7 5.7 5.1 Maturity (years) 11.4 16.9 7.6 8.3 9.6 9.3 9.0 7.5 Grace period (years) 2.6 14.0 4.0 3.2 9.5 5.7 0.8 0.7 5. Major economic aggregates Gross national income (GNI) 42,152 84,689 86,182 118,328 131,627 151,677 182,716 188,386 Exports of goods, services & income 34,514 85,992 114,356 148,257 166,757 191,136 215,976 .. Worker remit. & comp. of employees 325 716 981 1,128 1,281 1,550 1,803 1,920 Imports of goods & services 35,486 93,618 103,944 129,264 142,299 161,056 182,358 .. International reserves 10,659 24,699 28,651 66,394 70,458 82,876 101,995 92,166 Current account balance -870 -8,644 8,488 15,079 19,980 25,488 28,931 .. 6. Ratios External debt stocks to exports (%) 44.4 39.9 36.6 35.2 31.2 28.8 28.5 .. External debt stocks to GNI (%) 36.4 40.6 48.6 44.1 39.5 36.3 33.7 35.1 Debt service to exports (%) 12.6 7.0 5.6 6.2 5.6 4.0 4.8 .. Short-term to external debt stocks (%) 12.4 21.2 10.9 21.9 25.3 21.4 37.5 34.5 Multilateral to external debt stocks (%) 11.8 4.8 3.1 2.1 1.8 1.5 0.8 0.6 Reserves to external debt stocks (%) 69.5 71.9 68.4 127.3 135.5 150.6 165.7 139.3 Reserves to imports (months) 3.6 3.2 3.3 6.2 5.9 6.2 6.7 .. 182 MALAYSIA 7. Long-term external debt Debt outstanding and disbursed 13,422 27,069 37,300 40,723 38,805 43,223 38,467 43,382 Public and publicly guaranteed 11,592 16,023 19,234 25,570 22,449 22,599 18,441 21,464 Official creditors 4,191 5,489 4,950 6,976 6,542 6,605 4,375 5,166 Multilateral 1,812 1,644 1,314 1,092 936 798 471 399 of which: IBRD 1,102 1,059 812 639 533 437 135 85 IDA 0 0 0 0 0 0 0 0 Bilateral 2,378 3,845 3,637 5,884 5,606 5,807 3,904 4,767 Private creditors 7,401 10,533 14,284 18,594 15,907 15,994 14,066 16,299 of which: Bonds 4,090 6,062 9,945 13,754 12,647 12,845 11,806 11,767 Commercial banks 2,285 4,171 2,292 3,106 1,867 1,987 1,307 3,729 Private nonguaranteed 1,830 11,046 18,067 15,153 16,356 20,624 20,026 21,918 of which: Bonds 0 1,765 3,402 6,271 7,623 7,960 7,009 6,568 Disbursements 1,683 8,503 5,921 7,786 6,050 7,038 5,037 5,180 Public and publicly guaranteed 798 4,150 3,460 3,917 2,182 1,801 558 1,942 Official creditors 737 837 1,446 1,481 981 396 206 98 Multilateral 273 135 61 43 36 30 21 13 of which: IBRD 205 88 15 17 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 464 702 1,385 1,438 944 366 185 85 Private creditors 61 3,313 2,015 2,436 1,201 1,405 352 1,844 of which: Bonds 0 2,100 1,061 915 1,150 1,000 0 0 Commercial banks 57 1,205 672 1,522 51 405 352 1,844 Private nonguaranteed 885 4,353 2,461 3,868 3,868 5,237 4,479 3,238 of which: Bonds 0 480 361 3,218 1,615 620 0 0 Principal repayments 3,167 4,450 4,146 7,102 7,192 5,269 7,818 6,258 Public and publicly guaranteed 2,697 1,701 2,017 3,989 4,752 2,447 3,645 1,503 Official creditors 365 455 840 821 1,218 811 1,689 820 Multilateral 216 261 139 138 155 167 354 100 of which: IBRD 164 194 100 87 92 96 302 50 IDA 0 0 0 0 0 0 0 0 Bilateral 149 195 701 683 1,064 644 1,336 720 Private creditors 2,332 1,245 1,176 3,168 3,534 1,635 1,956 683 of which: Bonds 1,239 140 200 960 2,036 920 1,170 0 Commercial banks 664 420 864 1,811 1,256 484 556 436 Private nonguaranteed 470 2,749 2,129 3,113 2,440 2,822 4,172 4,755 of which: Bonds 0 0 745 1,110 237 337 1,000 250 Interest payments 997 1,150 2,033 1,783 1,872 1,882 2,024 2,038 Public and publicly guaranteed 956 805 1,171 1,299 1,222 1,191 1,181 985 Official creditors 232 284 259 237 314 228 202 129 Multilateral 145 128 98 55 47 40 32 20 of which: IBRD 86 83 66 39 33 27 19 8 IDA 0 0 0 0 0 0 0 0 Bilateral 87 155 160 182 267 188 170 109 Private creditors 724 522 912 1,062 908 963 979 856 of which: Bonds 414 251 611 802 760 796 811 750 Commercial banks 199 190 189 184 91 109 119 69 Private nonguaranteed 41 345 862 484 650 690 843 1,053 of which: Bonds 0 28 159 187 363 437 434 373 8. Debt stock-flow reconciliation Total change in external debt stocks -949 4,007 -30 3,599 -175 3,045 6,541 4,615 Net flows on external debt -1,851 5,138 337 3,491 601 396 8,517 -1,378 Cross-currency valuation 926 -104 -689 272 -867 91 328 896 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,069 658 573 557 329 299 237 215 Interest 125 96 81 67 54 45 37 30 Private creditors Principal 9,878 4,845 5,031 3,044 2,430 3,504 4,816 1,614 Interest 1,592 1,263 1,065 874 766 669 505 306 Notes: Data on long-term public and publicly guaranteed, private nonguaranteed and short-term debt for 2008 are World Bank staff estimates based on government statistics. 183 MALDIVES 1. Summary external debt data External debt stocks 78.0 154.9 206.0 365.8 389.6 484.2 576.3 986.8 Long-term external debt 64.0 151.9 184.7 333.3 327.4 379.9 439.8 499.0 Public and publicly guaranteed 64.0 151.9 184.7 333.3 327.4 379.9 439.8 499.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 5.9 6.2 6.5 3.9 Short-term external debt 14.0 3.0 21.4 32.5 56.3 98.2 130.0 483.8 interest arrears on long-term 0.0 0.0 0.0 0.5 0.3 0.2 0.0 1.8 Memorandum items 0.0 0.0 0.0 0.1 0.0 0.0 0.0 8.7 64.0 151.9 183.4 304.4 300.4 355.9 418.8 481.0 0.0 0.0 1.2 29.0 27.0 24.0 21.0 18.0 15.5 29.2 38.1 51.8 73.7 144.4 70.8 193.7 External debt flows Disbursements 13.0 34.7 13.6 73.0 55.6 63.7 71.2 109.2 Long-term external debt 13.0 34.7 13.6 73.0 49.5 63.7 71.2 109.2 IMF purchases 0.0 0.0 0.0 0.0 6.1 0.0 0.0 0.0 Principal repayments 6.0 7.1 13.9 23.9 24.4 23.6 30.7 43.6 Long-term external debt 6.0 7.1 13.9 23.9 24.4 23.6 30.7 41.2 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 Net flows 8.6 29.6 -3.8 47.1 55.2 82.1 72.5 417.6 Long-term external debt 7.0 27.6 -0.4 49.1 25.2 40.1 40.5 68.0 Short-term external debt 1.6 2.0 -3.5 -2.0 24.0 42.0 32.0 352.0 Interest payments 2.8 3.7 5.9 8.8 11.1 15.5 19.7 21.2 Long-term external debt 1.3 3.6 4.7 7.8 9.0 10.2 12.4 13.9 IMF charges 0.0 0.0 0.0 0.0 0.1 0.3 0.3 0.3 Short-term external debt 1.5 0.2 1.2 1.0 2.0 5.0 7.0 7.0 2. Other non-debt resource flows Foreign direct investment (net) 5.6 7.2 13.0 14.7 9.5 13.9 15.0 15.4 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 13.9 19.9 34.4 36.4 31.0 41.0 44.9 42.2 Grants (excluding technical coop.) 11.3 23.7 10.0 9.0 52.2 20.9 20.3 17.7 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 5.6 0.0 0.0 0.0 Memo: technical coop. grants 5.8 10.1 7.5 5.3 7.3 7.1 8.6 5.1 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.3 8.6 14.8 20.7 22.2 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 Pound sterling 0.4 0.0 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 25.4 51.3 53.3 53.8 55.4 51.5 48.0 47.1 4. Average terms of new commitments Official creditors Interest (%) 0.8 2.5 2.5 0.6 1.1 3.6 4.1 0.9 Maturity (years) 37.3 34.8 34.7 32.5 30.5 19.4 20.1 12.9 Grace period (years) 9.2 10.1 9.3 7.5 7.4 4.5 5.2 4.0 Private creditors Interest (%) 0.0 7.9 6.6 4.5 6.6 8.4 6.9 0.0 Maturity (years) 0.0 6.0 8.4 8.1 7.8 10.3 8.3 0.0 Grace period (years) 0.0 1.7 1.1 2.5 1.6 1.5 1.8 0.0 5. Major economic aggregates Gross national income (GNI) 193.9 379.0 594.3 719.2 725.9 877.8 1010.9 1208.5 Exports of goods, services & income 183.8 322.4 467.5 698.4 495.4 792.7 898.8 1052.1 Worker remit. & comp. of employees 2.0 2.0 2.0 2.9 2.3 2.8 3.0 3.1 Imports of goods & services 177.7 337.0 492.0 767.2 910.4 1102.8 1322.9 1651.2 International reserves 24.4 48.0 122.8 203.6 186.3 231.4 308.3 240.6 Current account balance 9.9 -18.2 -51.5 -122.3 -273.0 -302.0 -437.8 -651.3 6. Ratios External debt stocks to exports (%) 42.4 48.0 44.1 52.4 78.6 61.1 64.1 93.8 External debt stocks to GNI (%) 40.2 40.9 34.7 50.9 53.7 55.2 57.0 81.7 Debt service to exports (%) 4.8 3.4 4.2 4.7 7.2 4.9 5.6 6.2 Short-term to external debt stocks (%) 18.0 1.9 10.4 8.9 14.5 20.3 22.6 49.0 Multilateral to external debt stocks (%) 41.7 58.8 58.5 52.0 45.2 45.3 45.7 28.4 Reserves to external debt stocks (%) 31.3 31.0 59.6 55.7 47.8 47.8 53.5 24.4 Reserves to imports (months) 1.6 1.7 3.0 3.2 2.5 2.5 2.8 1.7 184 MALDIVES 7. Long-term external debt Debt outstanding and disbursed 64.0 151.9 184.7 333.3 327.4 379.9 439.8 499.0 Public and publicly guaranteed 64.0 151.9 184.7 333.3 327.4 379.9 439.8 499.0 Official creditors 60.2 142.6 154.8 247.8 241.9 285.6 328.1 358.7 Multilateral 32.5 91.1 120.5 190.3 176.0 219.2 263.5 280.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 10.0 36.1 46.4 65.6 64.4 69.8 76.7 79.1 Bilateral 27.6 51.5 34.3 57.5 65.9 66.5 64.6 78.4 Private creditors 3.8 9.4 29.9 85.5 85.5 94.2 111.7 140.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 3.4 23.7 84.4 85.5 94.2 111.7 140.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 13.0 34.7 13.6 73.0 49.5 63.7 71.2 109.2 Public and publicly guaranteed 13.0 34.7 13.6 73.0 49.5 63.7 71.2 109.2 Official creditors 9.6 30.9 6.3 26.1 32.1 46.3 42.6 56.6 Multilateral 3.6 18.7 6.1 11.7 16.1 38.9 39.0 36.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 1.2 3.9 3.3 6.1 4.6 3.4 5.2 4.2 Bilateral 5.9 12.2 0.2 14.4 16.0 7.4 3.5 20.6 Private creditors 3.5 3.8 7.3 46.9 17.4 17.5 28.6 52.6 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 2.4 6.1 46.9 17.4 17.5 28.6 52.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 6.0 7.1 13.9 23.9 24.4 23.6 30.7 41.2 Public and publicly guaranteed 6.0 7.1 13.9 23.9 24.4 23.6 30.7 41.2 Official creditors 3.7 4.8 6.7 11.9 11.1 11.8 15.8 19.4 Multilateral 1.5 1.4 2.5 4.1 4.0 4.3 8.4 12.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.4 0.8 1.0 1.1 1.1 1.2 Bilateral 2.2 3.4 4.2 7.8 7.1 7.6 7.4 6.5 Private creditors 2.3 2.3 7.3 12.0 13.3 11.7 14.9 21.8 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 1.5 0.6 6.1 10.2 12.3 11.7 14.9 21.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.3 3.6 4.7 7.8 9.0 10.2 12.4 13.9 Public and publicly guaranteed 1.3 3.6 4.7 7.8 9.0 10.2 12.4 13.9 Official creditors 0.8 2.7 2.6 3.8 4.6 5.0 6.3 7.1 Multilateral 0.3 1.0 1.5 1.9 2.1 2.2 3.7 4.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.3 0.3 0.5 0.5 0.5 0.5 0.6 Bilateral 0.5 1.7 1.1 1.9 2.5 2.8 2.6 2.2 Private creditors 0.5 0.8 2.2 4.0 4.4 5.2 6.1 6.9 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.1 0.2 1.8 3.9 4.3 5.2 6.1 6.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 11.2 31.3 -12.9 71.0 23.8 94.6 92.1 410.5 Net flows on external debt 8.6 29.6 -3.8 47.1 55.2 82.1 72.5 417.6 Cross-currency valuation 1.2 1.1 -6.5 21.6 -18.9 10.5 17.3 -15.4 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 48.1 59.3 61.3 40.0 26.5 28.0 25.8 27.6 Interest 6.1 6.0 6.2 5.8 5.5 5.1 4.6 4.2 Private creditors Principal 31.6 34.1 32.8 28.6 18.9 16.4 7.1 4.6 Interest 6.7 5.7 4.3 3.0 1.9 1.1 0.4 0.2 185 MALI 1. Summary external debt data External debt stocks 2,468 2,958 2,980 3,320 3,222 1,643 1,985 2,190 Long-term external debt 2,337 2,739 2,671 3,136 3,095 1,618 1,973 2,150 Public and publicly guaranteed 2,337 2,739 2,671 3,136 3,095 1,618 1,973 2,150 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 69 147 176 145 109 8 13 40 Short-term external debt 62 72 134 39 17 17 0 0 interest arrears on long-term 9 28 42 6 0 0 0 0 Memorandum items 63 342 541 134 22 29 23 36 2,331 2,739 2,671 3,136 3,095 1,618 1,973 2,150 6 0 0 0 0 0 0 0 123 163 245 201 437 204 436 303 External debt flows Disbursements 195 238 109 168 282 150 261 275 Long-term external debt 167 193 100 166 280 144 257 246 IMF purchases 28 45 9 2 2 6 4 28 Principal repayments 44 62 66 71 69 65 47 43 Long-term external debt 25 55 50 53 52 65 47 43 IMF repurchases 18 7 16 18 17 0 0 0 Net flows 159 200 -11 100 197 84 197 232 Long-term external debt 142 138 50 112 228 79 209 203 Short-term external debt 8 24 -53 4 -16 0 -17 0 Interest payments 24 25 27 27 29 26 20 25 Long-term external debt 17 22 18 25 27 24 19 24 IMF charges 4 1 1 1 0 0 0 0 Short-term external debt 3 2 9 1 1 1 0 0 2. Other non-debt resource flows Foreign direct investment (net) 6 111 82 101 224 83 73 127 Portfolio equity flows 0 0 0 -1 9 3 -6 0 Profit remittances on FDI 4 5 76 152 155 227 243 0 Grants (excluding technical coop.) 201 208 309 516 463 2,232 724 647 of which: Debt forgiveness grants .. .. 106 131 52 1,797 145 25 IDA grants .. .. .. 0 8 5 12 26 Memo: technical coop. grants 93 132 120 119 128 134 107 142 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 15.9 14.1 19.0 16.9 17.3 Japanese yen 0.3 2.3 2.9 2.4 2.0 3.7 3.0 3.2 Pound sterling 2.6 1.8 1.8 1.9 1.7 3.8 3.1 2.1 Swiss franc 2.3 2.1 1.5 1.8 1.6 3.3 2.9 2.9 U.S.dollars 14.8 22.5 33.9 45.0 44.5 28.8 29.5 29.5 4. Average terms of new commitments Official creditors Interest (%) 1.0 1.5 0.6 1.1 1.1 0.9 1.4 1.1 Maturity (years) 29.9 30.7 34.9 36.8 34.5 39.0 32.0 36.7 Grace period (years) 8.4 8.8 8.8 9.1 8.6 9.6 8.2 9.3 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.9 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.4 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.9 5. Major economic aggregates Gross national income (GNI) 2,405 2,419 2,392 4,679 5,099 5,524 7,445 8,484 Exports of goods, services & income 549 650 734 1,380 1,560 2,090 2,308 .. Worker remit. & comp. of employees 107 112 73 156 177 212 344 344 Imports of goods & services 889 1,040 1,046 1,844 2,072 2,453 2,966 .. International reserves 198 323 381 861 855 970 1,087 1,071 Current account balance -221 -284 -255 -409 -438 -231 -581 .. 6. Ratios External debt stocks to exports (%) 449.3 455.2 406.1 240.6 206.4 78.6 86.0 .. External debt stocks to GNI (%) 102.6 122.3 124.6 70.9 63.2 29.7 26.7 25.8 Debt service to exports (%) 12.3 13.4 12.8 7.1 6.3 4.4 2.9 .. Short-term to external debt stocks (%) 2.5 2.4 4.5 1.2 0.5 1.0 0.0 0.0 Multilateral to external debt stocks (%) 36.3 47.2 50.8 68.4 69.5 42.6 48.8 53.0 Reserves to external debt stocks (%) 8.0 10.9 12.8 25.9 26.5 59.0 54.8 48.9 Reserves to imports (months) 2.7 3.7 4.4 5.6 4.9 4.7 4.4 .. 186 MALI 7. Long-term external debt Debt outstanding and disbursed 2,337 2,739 2,671 3,136 3,095 1,618 1,973 2,150 Public and publicly guaranteed 2,337 2,739 2,671 3,136 3,095 1,618 1,973 2,150 Official creditors 2,321 2,737 2,671 3,134 3,091 1,611 1,966 2,144 Multilateral 897 1,397 1,513 2,269 2,240 701 968 1,161 of which: IBRD 0 0 0 0 0 0 0 0 IDA 498 863 957 1,441 1,424 297 452 534 Bilateral 1,424 1,340 1,158 864 851 910 998 983 Private creditors 16 2 0 2 5 7 7 5 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 2 5 7 7 5 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 167 193 100 166 280 144 257 246 Public and publicly guaranteed 167 193 100 166 280 144 257 246 Official creditors 167 193 100 164 277 143 257 246 Multilateral 115 146 85 153 210 108 190 234 of which: IBRD 0 0 0 0 0 0 0 0 IDA 43 85 49 76 111 49 139 88 Bilateral 52 47 14 11 66 35 67 13 Private creditors 0 0 0 2 3 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 2 3 1 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 25 55 50 53 52 65 47 43 Public and publicly guaranteed 25 55 50 53 52 65 47 43 Official creditors 24 55 50 53 52 65 46 42 Multilateral 14 23 26 33 34 46 21 24 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 6 7 7 9 12 0 0 Bilateral 11 32 24 20 19 20 25 18 Private creditors 1 0 0 0 0 0 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 1 1 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 17 22 18 25 27 24 19 24 Public and publicly guaranteed 17 22 18 25 27 24 19 24 Official creditors 17 22 18 25 27 24 19 24 Multilateral 10 12 12 19 21 16 11 13 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 6 7 10 11 7 3 4 Bilateral 7 10 5 6 6 7 8 11 Private creditors 1 0 0 0 0 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 1 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 340 264 -216 205 -98 -1,579 342 204 Net flows on external debt 159 200 -11 100 197 84 197 232 Cross-currency valuation 119 -1 -182 103 -204 -1,305 98 -10 9. Debt restructurings Total amount rescheduled 11 0 0 0 0 0 0 0 Total amount forgiven 3 0 33 21 22 1,787 6 9 Debt buyback 0 0 45 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 108 108 110 111 111 118 131 132 Interest 24 27 28 28 27 26 25 24 Private creditors Principal 2 2 2 2 1 1 1 0 Interest 0 0 0 0 0 0 0 0 Notes: Mali was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 187 MAURITANIA 1. Summary external debt data External debt stocks 2,113 2,396 2,378 2,324 2,308 1,618 1,700 1,960 Long-term external debt 1,806 2,127 2,029 2,073 2,072 1,390 1,433 1,643 Public and publicly guaranteed 1,806 2,127 2,029 2,073 2,072 1,390 1,433 1,643 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 70 100 98 90 69 0 13 16 Short-term external debt 238 169 251 161 167 229 254 301 interest arrears on long-term 63 79 112 94 109 130 128 135 Memorandum items 142 174 337 213 213 223 218 228 1,806 2,127 2,029 2,073 2,072 1,390 1,433 1,643 0 0 0 0 0 0 0 0 216 114 106 307 395 158 307 313 External debt flows Disbursements 148 133 123 117 143 175 193 297 Long-term external debt 136 111 115 117 143 175 180 294 IMF purchases 12 22 8 0 0 0 13 3 Principal repayments 98 79 52 35 42 70 93 38 Long-term external debt 83 70 46 26 33 47 93 38 IMF repurchases 16 9 6 9 10 23 0 0 Net flows 102 68 62 84 92 146 127 299 Long-term external debt 54 42 69 91 111 128 87 256 Short-term external debt 53 14 -9 3 -9 41 27 40 Interest payments 47 38 31 21 23 25 28 26 Long-term external debt 35 32 20 18 20 20 23 21 IMF charges 3 0 1 0 0 0 0 0 Short-term external debt 9 5 11 2 3 5 5 4 2. Other non-debt resource flows Foreign direct investment (net) 7 7 40 392 814 155 153 103 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 1 4 0 0 0 0 0 0 Grants (excluding technical coop.) 78 135 130 211 121 964 198 200 of which: Debt forgiveness grants .. .. 25 94 15 850 5 20 IDA grants .. .. .. 4 3 4 5 2 Memo: technical coop. grants 50 49 32 38 40 39 45 46 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.9 2.2 5.3 7.9 9.6 Japanese yen 1.3 3.1 3.6 0.3 0.1 0.1 0.1 0.1 Pound sterling 0.6 0.5 0.4 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 U.S.dollars 34.3 34.0 40.9 47.9 49.3 32.1 36.1 36.8 4. Average terms of new commitments Official creditors Interest (%) 3.1 1.1 1.9 2.5 3.3 1.5 2.6 2.7 Maturity (years) 31.2 34.7 28.5 30.1 21.8 30.5 27.3 25.4 Grace period (years) 8.5 9.7 7.5 7.6 5.4 8.4 5.6 6.5 Private creditors Interest (%) 0.0 0.0 0.0 5.8 5.8 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 9.8 9.8 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 1.8 1.8 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,076 1,366 1,092 1,613 1,901 2,769 2,750 .. Exports of goods, services & income 488 511 .. .. .. .. .. .. Worker remit. & comp. of employees 14 5 2 2 2 2 2 2 Imports of goods & services 570 559 .. .. .. .. .. .. International reserves 59 90 49 39 70 194 207 .. Current account balance -10 22 .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 432.9 468.8 .. .. .. .. .. .. External debt stocks to GNI (%) 196.4 175.3 217.8 144.0 121.4 58.4 61.8 .. Debt service to exports (%) 29.8 22.9 .. .. .. .. .. .. Short-term to external debt stocks (%) 11.2 7.1 10.6 6.9 7.2 14.1 14.9 15.4 Multilateral to external debt stocks (%) 31.0 38.6 41.8 61.4 61.2 45.1 47.1 47.1 Reserves to external debt stocks (%) 2.8 3.8 2.1 1.7 3.0 12.0 12.2 .. Reserves to imports (months) 1.2 1.9 .. .. .. .. .. .. 188 MAURITANIA 7. Long-term external debt Debt outstanding and disbursed 1,806 2,127 2,029 2,073 2,072 1,390 1,433 1,643 Public and publicly guaranteed 1,806 2,127 2,029 2,073 2,072 1,390 1,433 1,643 Official creditors 1,709 2,119 2,009 2,063 2,048 1,368 1,413 1,629 Multilateral 654 926 994 1,426 1,413 730 801 922 of which: IBRD 54 11 0 0 0 0 0 0 IDA 210 336 449 694 677 130 203 243 Bilateral 1,055 1,193 1,016 637 635 638 611 707 Private creditors 97 8 19 9 23 22 20 14 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 9 23 22 20 14 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 136 111 115 117 143 175 180 294 Public and publicly guaranteed 136 111 115 117 143 175 180 294 Official creditors 136 111 115 115 128 175 180 294 Multilateral 112 88 106 106 109 169 134 159 of which: IBRD 0 0 0 0 0 0 0 0 IDA 39 30 57 38 42 47 66 43 Bilateral 24 24 9 9 19 6 46 135 Private creditors 0 0 0 2 15 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 2 15 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 83 70 46 26 33 47 93 38 Public and publicly guaranteed 83 70 46 26 33 47 93 38 Official creditors 81 69 43 24 31 45 92 31 Multilateral 66 35 34 13 17 43 86 25 of which: IBRD 11 2 2 0 0 0 0 0 IDA 1 2 1 2 2 5 0 0 Bilateral 15 34 9 11 14 3 6 7 Private creditors 1 0 2 2 1 2 1 6 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 2 1 2 1 6 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 35 32 20 18 20 20 23 21 Public and publicly guaranteed 35 32 20 18 20 20 23 21 Official creditors 34 32 18 17 19 19 22 21 Multilateral 20 15 14 14 15 16 17 14 of which: IBRD 4 1 0 0 0 0 0 0 IDA 1 2 2 5 6 3 2 2 Bilateral 14 17 5 4 4 3 5 7 Private creditors 1 0 2 1 1 1 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 1 1 1 1 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 142 136 -155 -21 -15 -690 82 259 Net flows on external debt 102 68 62 84 92 146 127 299 Cross-currency valuation 50 7 -71 -9 -73 -669 56 0 9. Debt restructurings Total amount rescheduled 11 65 11 0 10 0 0 0 Total amount forgiven 71 15 48 90 20 856 66 38 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 66 61 71 87 96 103 102 113 Interest 29 33 36 37 37 36 34 33 Private creditors Principal 2 1 1 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Mauritania was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 189 MAURITIUS 1. Summary external debt data External debt stocks 934.0 1416.0 946.3 916.0 775.8 621.9 660.1 625.7 Long-term external debt 909.7 1414.9 946.3 916.0 775.8 621.9 660.1 625.7 Public and publicly guaranteed 762.2 1147.9 827.8 833.9 709.4 573.2 597.8 576.7 Private nonguaranteed 147.5 267.0 118.4 82.1 66.4 48.6 62.2 49.0 Use of IMF credit 22.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 2.3 1.2 0.0 0.0 0.0 0.0 0.0 0.0 interest arrears on long-term 2.3 1.2 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 762.2 1147.9 827.8 833.9 709.4 573.2 597.8 576.7 147.5 267.0 118.4 82.1 66.4 48.6 62.2 49.0 136.7 565.8 101.2 69.7 61.7 55.8 150.2 113.7 External debt flows Disbursements 161.1 408.6 128.1 74.0 137.9 39.3 117.7 114.0 Long-term external debt 161.1 408.6 128.1 74.0 137.9 39.3 117.7 114.0 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 103.5 153.9 401.0 170.1 196.8 225.9 125.3 137.4 Long-term external debt 60.0 153.9 401.0 170.1 196.8 225.9 125.3 137.4 IMF repurchases 43.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 57.7 254.7 -272.9 -96.0 -58.9 -186.6 -7.6 -23.4 Long-term external debt 101.2 254.7 -272.9 -96.0 -58.9 -186.6 -7.6 -23.4 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 47.8 55.9 51.8 33.9 29.6 29.0 26.3 23.3 Long-term external debt 42.8 55.9 51.8 33.9 29.6 29.0 26.3 23.3 IMF charges 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 41.0 18.7 265.6 13.9 41.8 106.8 340.8 377.7 Portfolio equity flows 0.0 22.0 -3.5 19.3 35.6 35.1 49.8 33.9 Profit remittances on FDI 22.5 15.5 8.1 13.6 33.6 88.1 90.1 163.2 Grants (excluding technical coop.) 24.9 23.5 8.8 21.2 16.3 18.8 28.7 92.7 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 19.7 24.4 15.7 23.0 23.1 23.3 30.3 29.5 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 54.5 48.6 52.7 51.2 45.8 Japanese yen 1.0 1.2 2.6 4.0 5.6 6.2 6.5 8.4 Pound sterling 8.7 1.8 1.6 1.3 1.5 1.7 1.5 1.5 Swiss franc 0.5 0.2 0.3 0.3 0.2 0.2 0.2 0.1 U.S.dollars 14.4 42.3 45.9 21.3 24.9 20.5 21.7 24.9 4. Average terms of new commitments Official creditors Interest (%) 6.0 5.1 3.9 2.6 2.6 5.0 4.1 4.2 Maturity (years) 17.9 17.5 15.7 15.7 14.2 17.2 18.7 15.6 Grace period (years) 6.3 5.5 4.7 3.9 4.8 5.8 5.3 5.5 Private creditors Interest (%) 0.0 6.3 7.5 2.5 2.5 0.0 0.0 0.0 Maturity (years) 0.0 6.1 1.9 1.0 1.0 0.0 0.0 0.0 Grace period (years) 0.0 4.3 1.9 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2362.7 3801.0 4434.2 6027.8 6284.6 6478.1 6852.9 8941.4 Exports of goods, services & income 1777.8 2401.6 2671.0 3500.5 3899.3 4374.0 5259.4 5763.5 Worker remit. & comp. of employees .. 132.0 177.0 215.0 215.0 215.0 215.0 215.0 Imports of goods & services 1994.5 2524.9 2771.8 3661.6 4284.3 5049.5 5818.3 6962.0 International reserves 761.2 887.2 914.4 1632.9 1371.6 1308.9 1831.7 1796.1 Current account balance -119.3 -21.9 -36.9 -111.8 -324.0 -604.4 -433.9 -974.3 6. Ratios External debt stocks to exports (%) 52.5 59.0 35.4 26.2 19.9 14.2 12.6 10.9 External debt stocks to GNI (%) 39.5 37.3 21.3 15.2 12.3 9.6 9.6 7.0 Debt service to exports (%) 8.5 8.7 16.9 5.8 5.8 5.8 2.9 2.8 Short-term to external debt stocks (%) 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral to external debt stocks (%) 33.3 19.1 22.8 28.9 31.4 34.4 37.3 42.1 Reserves to external debt stocks (%) 81.5 62.7 96.6 178.3 176.8 210.5 277.5 287.0 Reserves to imports (months) 4.6 4.2 4.0 5.4 3.8 3.1 3.8 3.1 190 MAURITIUS 7. Long-term external debt Debt outstanding and disbursed 909.7 1414.9 946.3 916.0 775.8 621.9 660.1 625.7 Public and publicly guaranteed 762.2 1147.9 827.8 833.9 709.4 573.2 597.8 576.7 Official creditors 647.3 663.6 493.8 555.9 485.8 423.7 481.1 487.0 Multilateral 310.8 269.8 215.7 264.3 243.7 214.2 245.9 263.5 of which: IBRD 176.2 140.3 85.8 77.3 68.3 61.1 81.1 102.7 IDA 18.8 16.5 13.5 11.0 10.4 9.8 9.2 8.6 Bilateral 336.5 393.9 278.1 291.6 242.1 209.5 235.2 223.4 Private creditors 114.9 484.2 334.1 278.0 223.6 149.6 116.7 89.7 of which: Bonds 0.0 150.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 102.2 314.8 324.0 217.6 172.8 117.4 86.9 65.6 Private nonguaranteed 147.5 267.0 118.4 82.1 66.4 48.6 62.2 49.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 161.1 408.6 128.1 74.0 137.9 39.3 117.7 114.0 Public and publicly guaranteed 103.7 352.6 118.9 48.1 126.5 27.8 88.3 86.4 Official creditors 96.1 39.4 42.9 29.3 62.5 27.8 88.3 86.4 Multilateral 22.6 18.0 17.2 14.7 31.4 13.9 46.9 47.9 of which: IBRD 5.6 10.5 3.6 1.0 2.4 1.0 30.6 30.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 73.5 21.3 25.6 14.7 31.1 13.9 41.4 38.5 Private creditors 7.6 313.2 76.0 18.8 64.0 0.0 0.0 0.0 of which: Bonds 0.0 150.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.2 158.7 76.0 10.4 60.9 0.0 0.0 0.0 Private nonguaranteed 57.4 56.0 9.2 25.9 11.4 11.5 29.4 27.6 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 60.0 153.9 401.0 170.1 196.8 225.9 125.3 137.4 Public and publicly guaranteed 43.7 93.9 385.5 152.2 175.4 203.2 104.3 102.8 Official creditors 39.4 60.6 55.0 85.7 85.0 112.8 58.8 80.5 Multilateral 22.3 33.4 33.8 35.8 30.6 52.0 25.0 25.6 of which: IBRD 16.0 23.3 18.1 10.1 8.7 8.2 10.8 9.5 IDA 0.2 0.6 0.6 0.6 0.6 0.6 0.6 0.6 Bilateral 17.1 27.2 21.2 49.9 54.4 60.9 33.8 54.9 Private creditors 4.3 33.3 330.4 66.6 90.4 90.3 45.4 22.3 of which: Bonds 0.0 0.0 150.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 4.1 21.6 146.3 60.5 82.9 68.2 40.0 17.9 Private nonguaranteed 16.3 60.0 15.5 17.8 21.4 22.7 21.0 34.6 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 42.8 55.9 51.8 33.9 29.6 29.0 26.3 23.3 Public and publicly guaranteed 36.9 49.9 51.2 32.0 29.5 28.8 25.6 23.0 Official creditors 33.1 35.5 22.5 20.3 19.0 18.3 17.4 17.4 Multilateral 19.3 16.1 8.8 5.9 6.6 8.4 8.6 9.1 of which: IBRD 14.0 10.8 4.6 1.1 1.8 2.7 4.1 3.7 IDA 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Bilateral 13.8 19.3 13.7 14.4 12.4 9.9 8.8 8.3 Private creditors 3.8 14.5 28.7 11.7 10.5 10.5 8.2 5.6 of which: Bonds 0.0 0.0 5.3 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.3 12.4 21.7 10.3 8.8 8.7 6.7 4.1 Private nonguaranteed 5.9 6.0 0.6 1.9 0.1 0.2 0.7 0.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 119.6 316.7 -325.1 -56.1 -140.3 -153.9 38.2 -34.3 Net flows on external debt 57.7 254.7 -272.9 -96.0 -58.9 -186.6 -7.6 -23.4 Cross-currency valuation 39.6 21.4 -41.8 40.0 -71.3 38.3 39.6 -4.1 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 83.0 79.8 74.4 83.6 61.8 60.4 57.3 56.4 Interest 18.3 18.4 17.8 16.4 14.3 12.7 11.1 9.5 Private creditors Principal 37.0 32.7 25.9 14.4 13.5 6.9 4.5 2.0 Interest 5.1 3.7 2.3 1.5 0.9 0.5 0.2 0.1 Notes: Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2006, 2007, and 2008 are $3,324 millions, $8,263 millions, and $5,305 millions respectively. 191 MEXICO 1. Summary external debt data External debt stocks 104,442 165,379 150,901 171,162 167,942 162,497 192,764 203,984 Long-term external debt 81,809 112,250 131,969 162,072 161,363 152,260 168,915 179,557 Public and publicly guaranteed 75,974 93,902 81,488 108,507 108,482 96,029 105,378 113,955 Private nonguaranteed 5,835 18,348 50,481 53,565 52,881 56,231 63,537 65,602 Use of IMF credit 6,551 15,828 0 0 0 0 0 0 Short-term external debt 16,082 37,300 18,932 9,090 6,578 10,237 23,848 24,427 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 75,595 93,471 81,210 108,382 108,448 96,022 105,374 113,950 6,214 18,779 50,758 53,690 52,916 56,238 63,541 65,607 12,484 24,610 10,828 16,437 14,933 14,974 16,668 24,073 External debt flows Disbursements 14,229 42,966 34,024 40,316 33,895 32,008 37,314 44,118 Long-term external debt 12,045 29,678 32,830 40,316 33,895 32,008 37,314 44,118 IMF purchases 2,184 13,288 1,194 0 0 0 0 0 Principal repayments 4,012 15,309 44,451 39,837 34,794 44,576 27,888 30,752 Long-term external debt 2,821 14,165 38,958 39,837 34,794 44,576 27,888 30,752 IMF repurchases 1,191 1,144 5,493 0 0 0 0 0 Net flows 17,637 25,635 -15,557 390 -3,410 -8,910 23,038 13,945 Long-term external debt 9,224 15,513 -6,128 479 -899 -12,568 9,426 13,367 Short-term external debt 7,420 -2,022 -5,130 -89 -2,511 3,658 13,612 578 Interest payments 7,301 10,801 14,059 10,644 10,338 11,519 12,007 10,580 Long-term external debt 5,797 7,645 12,014 10,194 9,694 10,985 11,206 9,799 IMF charges 522 545 153 0 0 0 0 0 Short-term external debt 982 2,611 1,892 450 644 535 801 781 2. Other non-debt resource flows Foreign direct investment (net) 2,549 9,526 17,942 23,681 21,977 19,428 27,528 22,481 Portfolio equity flows 1,995 519 447 -2,522 3,353 2,805 -482 -3,503 Profit remittances on FDI 2,304 4,259 6,018 3,790 6,733 10,083 11,232 10,034 Grants (excluding technical coop.) 54 31 21 34 99 117 120 139 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 81 122 109 132 147 197 109 137 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.3 1.1 1.3 1.1 1.0 Japanese yen 6.3 8.3 7.6 2.6 1.8 1.0 0.8 0.9 Pound sterling 1.4 0.7 0.2 0.2 0.1 0.1 0.1 0.0 Swiss franc 0.6 0.4 0.0 0.2 0.2 0.2 0.2 0.1 U.S.dollars 64.3 65.2 85.0 94.2 95.7 96.9 97.4 97.8 4. Average terms of new commitments Official creditors Interest (%) 7.8 9.1 5.4 2.1 4.0 5.9 7.4 3.2 Maturity (years) 15.6 9.3 14.8 12.2 20.4 13.7 13.0 20.6 Grace period (years) 4.5 2.9 4.8 3.7 4.7 4.4 4.3 8.7 Private creditors Interest (%) 9.4 6.2 8.4 5.9 6.5 5.5 6.6 6.6 Maturity (years) 11.5 3.6 9.3 14.5 14.4 11.0 16.5 17.3 Grace period (years) 6.1 2.5 9.1 11.3 7.9 7.6 11.5 9.7 5. Major economic aggregates Gross national income (GNI) 254,084 273,409 566,409 749,084 833,350 934,379 1,008,694 1,068,800 Exports of goods, services & income 54,570 96,707 192,425 225,993 257,418 298,291 323,429 342,274 Worker remit. & comp. of employees 3,098 4,368 7,525 19,861 23,062 26,877 27,136 26,304 Imports of goods & services 63,504 98,571 211,531 231,601 262,252 303,050 332,110 358,403 International reserves 10,217 17,046 35,577 64,202 74,110 76,329 87,208 95,300 Current account balance -7,451 -1,576 -18,684 -5,176 -4,386 -4,377 -8,335 -15,805 6. Ratios External debt stocks to exports (%) 191.4 171.0 78.4 75.7 65.2 54.5 59.6 59.6 External debt stocks to GNI (%) 41.1 60.5 26.6 22.8 20.2 17.4 19.1 19.1 Debt service to exports (%) 20.7 27.0 30.4 22.3 17.5 18.8 12.3 12.1 Short-term to external debt stocks (%) 15.4 22.6 12.5 5.3 3.9 6.3 12.4 12.0 Multilateral to external debt stocks (%) 13.7 11.3 11.4 9.8 9.8 5.1 4.7 5.2 Reserves to external debt stocks (%) 9.8 10.3 23.6 37.5 44.1 47.0 45.2 46.7 Reserves to imports (months) 1.9 2.1 2.0 3.3 3.4 3.0 3.2 3.2 192 MEXICO 7. Long-term external debt Debt outstanding and disbursed 81,809 112,250 131,969 162,072 161,363 152,260 168,915 179,557 Public and publicly guaranteed 75,974 93,902 81,488 108,507 108,482 96,029 105,378 113,955 Official creditors 22,621 38,997 20,850 19,282 18,770 10,263 11,011 12,422 Multilateral 14,302 18,636 17,238 16,692 16,478 8,210 9,116 10,653 of which: IBRD 11,030 13,823 11,444 9,264 8,881 4,211 4,540 5,867 IDA 0 0 0 0 0 0 0 0 Bilateral 8,318 20,361 3,612 2,589 2,292 2,053 1,894 1,769 Private creditors 53,353 54,904 60,639 89,225 89,712 85,766 94,368 101,534 of which: Bonds 40,100 45,287 52,212 51,154 46,539 38,636 37,092 34,685 Commercial banks 6,630 5,302 5,823 37,008 42,281 46,330 56,539 66,144 Private nonguaranteed 5,835 18,348 50,481 53,565 52,881 56,231 63,537 65,602 of which: Bonds 150 13,026 20,644 15,419 19,442 19,389 22,680 19,958 Disbursements 12,045 29,678 32,830 40,316 33,895 32,008 37,314 44,118 Public and publicly guaranteed 9,985 23,399 11,483 19,863 15,143 14,977 15,627 24,749 Official creditors 5,454 13,426 2,855 2,147 2,309 2,365 2,167 2,764 Multilateral 3,647 2,663 2,534 1,737 1,946 2,108 1,741 2,616 of which: IBRD 3,326 1,732 1,748 767 997 1,429 671 1,940 IDA 0 0 0 0 0 0 0 0 Bilateral 1,807 10,763 322 411 363 257 426 147 Private creditors 4,532 9,973 8,628 17,715 12,833 12,612 13,459 21,985 of which: Bonds 975 7,059 6,826 8,103 2,135 3,263 3,267 3,500 Commercial banks 2,552 1,699 1,638 9,412 10,626 9,245 10,070 18,389 Private nonguaranteed 2,060 6,279 21,346 20,453 18,753 17,031 21,687 19,370 of which: Bonds 150 843 3,346 3,922 6,669 4,506 5,826 931 Principal repayments 2,821 14,165 38,958 39,837 34,794 44,576 27,888 30,752 Public and publicly guaranteed 2,625 9,136 16,328 18,104 15,682 31,570 13,541 13,834 Official creditors 1,286 3,072 3,377 3,351 2,527 10,948 1,539 1,459 Multilateral 1,037 1,714 1,816 2,712 1,982 10,420 901 1,120 of which: IBRD 801 1,411 1,330 1,917 1,379 6,100 342 596 IDA 0 0 0 0 0 0 0 0 Bilateral 249 1,358 1,561 639 545 527 638 339 Private creditors 1,339 6,064 12,950 14,753 13,155 20,623 12,001 12,374 of which: Bonds 464 3,534 9,256 6,818 6,997 12,793 7,071 5,724 Commercial banks 185 1,623 2,870 7,573 5,975 7,623 4,718 6,467 Private nonguaranteed 196 5,029 22,630 21,733 19,112 13,005 14,347 16,918 of which: Bonds 0 610 3,552 7,110 2,645 4,703 2,536 3,247 Interest payments 5,797 7,645 12,014 10,194 9,694 10,985 11,206 9,799 Public and publicly guaranteed 5,215 6,239 7,763 6,432 6,758 6,412 6,435 5,752 Official creditors 1,378 2,659 1,553 926 847 912 513 458 Multilateral 1,005 1,291 1,275 852 769 832 433 394 of which: IBRD 751 961 890 511 437 461 232 200 IDA 0 0 0 0 0 0 0 0 Bilateral 373 1,368 278 74 78 80 80 64 Private creditors 3,838 3,579 6,210 5,506 5,912 5,500 5,922 5,294 of which: Bonds 1,112 2,906 4,283 3,984 3,961 3,592 3,053 2,646 Commercial banks 2,195 346 1,333 1,485 1,917 1,869 2,834 2,620 Private nonguaranteed 582 1,407 4,251 3,761 2,936 4,573 4,771 4,047 of which: Bonds 0 1,054 1,620 1,230 957 1,621 1,694 1,310 8. Debt stock-flow reconciliation Total change in external debt stocks 10,601 26,833 -15,837 315 -3,220 -5,445 30,267 11,220 Net flows on external debt 17,637 25,635 -15,557 390 -3,410 -8,910 23,038 13,945 Cross-currency valuation 3,254 513 -2,376 467 -484 184 3,158 109 9. Debt restructurings Total amount rescheduled 36,950 0 0 0 0 0 0 0 Total amount forgiven 8,145 293 478 0 0 0 0 0 Debt buyback 0 13 6,644 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,476 1,198 1,561 1,026 1,000 942 753 621 Interest 479 430 369 325 289 254 222 198 Private creditors Principal 27,911 22,026 17,818 16,228 11,881 9,953 10,769 8,762 Interest 8,780 9,739 8,484 7,173 6,687 5,447 4,663 3,984 Notes: Short-term debt for 2008 is based on reports provided by the country. The increase in 1995 in long-term debt includes the stock transfer of the "Tesobonos." Stocks and flows were revised beginning 2000 to reflect the full coverage of PIDIREGAS debt as opposed to partial coverage as it was the case in previous publications. 193 MOLDOVA 1. Summary external debt data External debt stocks .. 695 1,690 1,943 2,051 2,437 3,182 3,787 Long-term external debt .. 459 1,047 1,225 1,238 1,454 1,935 2,307 Public and publicly guaranteed .. 450 850 752 698 736 777 792 Private nonguaranteed .. 9 197 473 540 718 1,158 1,516 Use of IMF credit .. 230 154 126 95 141 160 166 Short-term external debt .. 6 489 592 718 842 1,087 1,314 interest arrears on long-term .. 5 22 34 56 15 21 22 Memorandum items .. 42 33 54 78 72 92 97 .. 450 839 752 698 736 777 792 .. 9 208 473 540 718 1,158 1,516 .. 169 20 53 24 40 92 30 External debt flows Disbursements .. 230 176 223 237 415 621 812 Long-term external debt .. 166 164 223 237 351 588 776 IMF purchases .. 64 12 0 0 64 33 36 Principal repayments .. 41 82 230 184 258 239 414 Long-term external debt .. 41 57 209 163 234 217 389 IMF repurchases .. 0 25 22 22 24 22 25 Net flows .. 189 560 56 157 322 622 623 Long-term external debt .. 124 107 14 75 117 371 388 Short-term external debt .. 0 465 63 104 165 240 225 Interest payments .. 29 68 74 66 76 99 87 Long-term external debt .. 19 46 56 42 38 50 56 IMF charges .. 10 8 3 3 3 2 1 Short-term external debt .. 0 14 15 21 35 47 29 2. Other non-debt resource flows Foreign direct investment (net) .. 26 128 88 191 233 539 708 Portfolio equity flows .. -1 3 -1 1 2 2 11 Profit remittances on FDI .. 0 3 50 45 108 182 153 Grants (excluding technical coop.) .. 0 37 40 84 84 160 192 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 1 4 6 6 Memo: technical coop. grants .. 0 44 58 59 57 35 42 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 10.0 7.6 8.1 8.8 8.9 Japanese yen .. 8.4 3.4 3.5 3.3 3.0 2.9 3.4 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 22.8 67.1 66.3 68.9 69.2 69.0 67.8 4. Average terms of new commitments Official creditors Interest (%) .. 6.8 0.4 0.8 1.5 0.8 3.0 0.8 Maturity (years) .. 10.4 39.7 38.1 28.9 39.4 24.1 39.6 Grace period (years) .. 3.3 10.2 9.8 7.4 10.1 6.2 10.1 Private creditors Interest (%) .. 7.0 5.9 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 6.0 3.2 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 1.5 3.2 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,724 1,310 2,935 3,347 3,809 4,820 6,642 Exports of goods, services & income .. 899 833 2,038 2,438 2,735 3,551 4,434 Worker remit. & comp. of employees .. 1 179 705 920 1,182 1,498 1,897 Imports of goods & services .. 1,038 1,089 2,234 2,844 3,335 4,602 5,998 International reserves .. 257 222 470 597 775 1,334 1,672 Current account balance .. -85 -98 -46 -226 -389 -674 -987 6. Ratios External debt stocks to exports (%) .. 77.3 202.8 95.4 84.1 89.1 89.6 85.4 External debt stocks to GNI (%) .. 40.3 129.0 66.2 61.3 64.0 66.0 57.0 Debt service to exports (%) .. 7.9 18.0 14.9 10.2 12.2 9.5 11.3 Short-term to external debt stocks (%) .. 0.9 28.9 30.5 35.0 34.6 34.2 34.7 Multilateral to external debt stocks (%) .. 31.1 23.9 23.0 19.9 17.7 14.9 13.1 Reserves to external debt stocks (%) .. 37.0 13.2 24.2 29.1 31.8 41.9 44.2 Reserves to imports (months) .. 3.0 2.5 2.5 2.5 2.8 3.5 3.3 194 MOLDOVA 7. Long-term external debt Debt outstanding and disbursed .. 459 1,047 1,225 1,238 1,454 1,935 2,307 Public and publicly guaranteed .. 450 850 752 698 736 777 792 Official creditors .. 430 743 709 664 711 759 781 Multilateral .. 216 403 447 409 430 473 495 of which: IBRD .. 152 191 185 161 151 141 129 IDA .. 0 103 201 209 242 292 311 Bilateral .. 214 340 263 255 280 286 286 Private creditors .. 19 107 42 34 25 18 11 of which: Bonds .. 0 75 32 25 19 13 6 Commercial banks .. 4 12 10 7 6 5 4 Private nonguaranteed .. 9 197 473 540 718 1,158 1,516 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 166 164 223 237 351 588 776 Public and publicly guaranteed .. 159 54 24 26 31 47 43 Official creditors .. 139 52 24 26 31 47 43 Multilateral .. 81 50 21 25 29 47 43 of which: IBRD .. 50 6 2 0 0 0 0 IDA .. 0 30 17 24 23 39 24 Bilateral .. 58 1 2 1 3 1 0 Private creditors .. 19 2 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 4 0 0 0 0 0 0 Private nonguaranteed .. 7 110 199 211 320 541 733 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 41 57 209 163 234 217 389 Public and publicly guaranteed .. 39 30 79 42 53 41 42 Official creditors .. 39 27 73 35 45 34 35 Multilateral .. 35 21 35 35 23 21 22 of which: IBRD .. 0 5 13 13 14 15 17 IDA .. 0 0 0 0 0 1 2 Bilateral .. 4 5 38 0 22 13 13 Private creditors .. 0 3 6 7 8 7 6 of which: Bonds .. 0 0 2 6 6 6 6 Commercial banks .. 0 0 0 1 1 1 0 Private nonguaranteed .. 2 28 130 120 181 176 347 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 19 46 56 42 38 50 56 Public and publicly guaranteed .. 19 39 32 22 17 18 16 Official creditors .. 19 28 28 20 15 16 15 Multilateral .. 11 18 9 10 11 12 11 of which: IBRD .. 8 11 6 6 7 8 7 IDA .. 0 1 2 2 2 2 2 Bilateral .. 8 10 18 10 3 4 5 Private creditors .. 0 11 4 2 3 2 1 of which: Bonds .. 0 7 2 2 2 2 1 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 7 24 20 21 33 39 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 193 672 4 108 386 744 606 Net flows on external debt .. 189 560 56 157 322 622 623 Cross-currency valuation .. -9 -31 27 -47 24 29 -1 9. Debt restructurings Total amount rescheduled .. 0 246 18 0 88 32 31 Total amount forgiven .. 0 0 59 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 58 54 51 52 59 53 46 33 Interest 20 18 16 14 15 13 11 9 Private creditors Principal 258 255 206 151 139 104 71 98 Interest 63 56 56 37 38 27 27 29 Notes: Short-term debt data are World Bank staff estimates based on government statistics. 195 MONGOLIA 1. Summary external debt data External debt stocks .. 520 885 1,351 1,302 1,394 1,596 1,721 Long-term external debt .. 472 833 1,307 1,267 1,363 1,571 1,701 Public and publicly guaranteed .. 472 833 1,307 1,267 1,361 1,566 1,653 Private nonguaranteed .. 0 0 0 0 3 5 48 Use of IMF credit .. 47 50 44 35 31 26 20 Short-term external debt .. 0 2 0 0 0 0 0 interest arrears on long-term .. 0 2 0 0 0 0 0 Memorandum items .. 4 17 27 21 25 26 26 .. 451 832 1,307 1,267 1,361 1,566 1,653 .. 22 1 0 0 3 5 48 .. 250 102 24 64 55 130 8 External debt flows Disbursements .. 101 83 128 91 92 165 124 Long-term external debt .. 101 75 128 91 92 165 124 IMF purchases .. 0 8 0 0 0 0 0 Principal repayments .. 42 28 20 23 31 41 50 Long-term external debt .. 32 22 13 17 25 35 45 IMF repurchases .. 9 6 7 6 6 7 5 Net flows .. 59 55 108 69 61 123 74 Long-term external debt .. 68 53 115 74 67 130 79 Short-term external debt .. 0 0 0 0 0 0 0 Interest payments .. 10 10 14 15 15 15 23 Long-term external debt .. 9 9 14 15 15 14 23 IMF charges .. 1 0 0 0 0 0 0 Short-term external debt .. 0 0 0 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) .. 10 54 93 185 344 360 683 Portfolio equity flows .. 0 0 0 0 0 0 0 Profit remittances on FDI .. 18 9 10 41 145 0 0 Grants (excluding technical coop.) .. 74 81 76 59 80 108 145 of which: Debt forgiveness grants .. .. 0 0 0 14 0 0 IDA grants .. .. .. 0 0 1 5 7 Memo: technical coop. grants .. 56 61 73 85 79 77 71 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.0 7.6 8.4 8.4 7.8 Japanese yen .. 26.5 25.0 22.4 21.4 19.6 17.7 20.8 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 2.3 0.7 0.7 0.6 0.6 0.6 0.6 U.S.dollars .. 38.1 35.8 42.9 44.5 45.2 47.1 44.4 4. Average terms of new commitments Official creditors Interest (%) .. 2.2 1.2 0.8 1.1 1.0 1.2 0.8 Maturity (years) .. 35.3 31.9 39.9 31.7 32.5 34.0 39.4 Grace period (years) .. 10.1 9.3 10.0 7.7 8.5 8.3 9.9 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 8.6 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 3.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 3.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,201 1,084 1,805 2,255 3,046 3,851 5,129 Exports of goods, services & income .. 511 639 1,422 1,671 2,228 .. .. Worker remit. & comp. of employees .. .. 12 203 180 181 194 200 Imports of goods & services .. 550 791 1,432 1,635 2,042 .. .. International reserves .. 158 202 250 430 1,062 1,396 .. Current account balance .. 39 -70 63 84 222 .. .. 6. Ratios External debt stocks to exports (%) .. 101.6 138.7 95.0 77.9 62.6 .. .. External debt stocks to GNI (%) .. 43.3 81.7 74.9 57.7 45.8 41.5 33.6 Debt service to exports (%) .. 10.1 5.9 2.4 2.3 2.1 .. .. Short-term to external debt stocks (%) .. 0.1 0.2 0.0 0.0 0.0 0.0 0.0 Multilateral to external debt stocks (%) .. 32.7 52.2 59.9 60.5 61.2 59.0 56.0 Reserves to external debt stocks (%) .. 30.3 22.8 18.5 33.1 76.2 87.4 .. Reserves to imports (months) .. 3.4 3.1 2.1 3.2 6.2 .. .. 196 MONGOLIA 7. Long-term external debt Debt outstanding and disbursed .. 472 833 1,307 1,267 1,363 1,571 1,701 Public and publicly guaranteed .. 472 833 1,307 1,267 1,361 1,566 1,653 Official creditors .. 404 831 1,306 1,266 1,348 1,475 1,564 Multilateral .. 170 462 810 787 854 942 963 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 59 137 287 277 301 331 338 Bilateral .. 234 369 497 479 494 533 601 Private creditors .. 68 3 0 0 13 90 89 of which: Bonds .. 0 0 0 0 0 75 75 Commercial banks .. 15 1 0 0 0 0 0 Private nonguaranteed .. 0 0 0 0 3 5 48 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 101 75 128 91 92 165 124 Public and publicly guaranteed .. 101 75 128 91 89 162 77 Official creditors .. 95 75 128 91 71 82 75 Multilateral .. 58 47 93 48 49 50 44 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 8 14 49 14 13 20 13 Bilateral .. 37 28 36 43 22 31 31 Private creditors .. 6 0 0 0 18 81 2 of which: Bonds .. 0 0 0 0 0 75 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 0 0 2 2 47 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 32 22 13 17 25 35 45 Public and publicly guaranteed .. 32 22 13 17 25 35 44 Official creditors .. 13 19 13 17 20 31 40 Multilateral .. 0 0 4 6 8 11 16 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 1 2 2 3 4 Bilateral .. 13 19 9 11 12 21 25 Private creditors .. 19 3 0 0 5 3 3 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 5 0 0 0 0 0 0 Private nonguaranteed .. 0 0 0 0 0 0 1 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 9 9 14 15 15 14 23 Public and publicly guaranteed .. 9 9 14 15 15 14 23 Official creditors .. 5 9 14 15 15 14 16 Multilateral .. 1 4 7 7 8 8 9 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 1 2 2 2 2 3 Bilateral .. 4 5 7 8 7 6 7 Private creditors .. 4 0 0 0 0 0 7 of which: Bonds .. 0 0 0 0 0 0 6 Commercial banks .. 1 0 0 0 0 0 0 Private nonguaranteed .. 0 0 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 58 -8 161 -49 93 202 125 Net flows on external debt .. 59 55 108 69 61 123 74 Cross-currency valuation .. 0 -60 51 -117 37 78 -10 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 3 0 0 Total amount forgiven .. 0 0 0 0 17 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 49 51 59 63 66 68 72 72 Interest 22 22 21 21 20 19 19 19 Private creditors Principal 11 95 3 13 13 3 1 0 Interest 9 2 1 1 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. 197 MONTENEGRO 1. Summary external debt data External debt stocks .. .. .. .. .. 850.0 1281.2 1490.1 Long-term external debt .. .. .. .. .. 850.0 876.2 888.1 Public and publicly guaranteed .. .. .. .. .. 837.6 866.5 879.0 Private nonguaranteed .. .. .. .. .. 12.4 9.7 9.1 Use of IMF credit .. .. .. .. .. 0.0 0.0 0.0 Short-term external debt .. .. .. .. .. 0.0 405.0 602.0 interest arrears on long-term .. .. .. .. .. 0.0 0.0 0.0 Memorandum items .. .. .. .. .. 0.0 0.0 0.0 .. .. .. .. .. 837.6 866.5 879.0 .. .. .. .. .. 12.4 9.7 9.1 .. .. .. .. .. 61.2 192.5 25.6 External debt flows Disbursements .. .. .. .. .. 96.3 84.5 70.1 Long-term external debt .. .. .. .. .. 96.3 84.5 70.1 IMF purchases .. .. .. .. .. 0.0 0.0 0.0 Principal repayments .. .. .. .. .. 12.7 108.0 28.0 Long-term external debt .. .. .. .. .. 12.7 108.0 28.0 IMF repurchases .. .. .. .. .. 0.0 0.0 0.0 Net flows .. .. .. .. .. 83.5 -23.5 239.2 Long-term external debt .. .. .. .. .. 83.5 -23.5 42.2 Short-term external debt .. .. .. .. .. 0.0 0.0 197.0 Interest payments .. .. .. .. .. 27.8 50.2 39.0 Long-term external debt .. .. .. .. .. 27.8 35.0 27.0 IMF charges .. .. .. .. .. 0.0 0.0 0.0 Short-term external debt .. .. .. .. .. 0.0 15.2 12.0 2. Other non-debt resource flows Foreign direct investment (net) .. .. .. .. .. 618.3 875.7 939.0 Portfolio equity flows .. .. .. .. .. 0.0 0.0 0.0 Profit remittances on FDI .. .. .. .. .. 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. .. .. .. 45.8 63.0 51.0 of which: Debt forgiveness grants .. .. .. .. .. 0.0 0.0 0.0 IDA grants .. .. .. .. .. 0.0 0.0 0.0 Memo: technical coop. grants .. .. .. .. .. 32.3 20.9 22.1 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. .. .. 45.0 52.0 52.6 Japanese yen .. .. .. .. .. 0.0 0.0 0.0 Pound sterling .. .. .. .. .. 0.1 0.1 0.0 Swiss franc .. .. .. .. .. 1.8 3.8 3.9 U.S.dollars .. .. .. .. .. 50.1 40.6 38.3 4. Average terms of new commitments Official creditors Interest (%) .. .. .. .. .. 0.9 2.5 4.8 Maturity (years) .. .. .. .. .. 15.4 15.6 8.6 Grace period (years) .. .. .. .. .. 3.7 5.2 4.5 Private creditors Interest (%) .. .. .. .. .. 4.3 1.8 0.0 Maturity (years) .. .. .. .. .. 8.8 13.8 0.0 Grace period (years) .. .. .. .. .. 2.1 4.3 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. .. 2734.5 3869.9 4510.4 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. 457.1 732.4 478.4 Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) .. .. .. .. .. 31.1 33.1 33.0 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) .. .. .. .. .. 0.0 31.6 40.4 Multilateral to external debt stocks (%) .. .. .. .. .. 63.9 43.6 38.1 Reserves to external debt stocks (%) .. .. .. .. .. 53.8 57.2 32.1 Reserves to imports (months) .. .. .. .. .. .. .. .. 198 MONTENEGRO 7. Long-term external debt Debt outstanding and disbursed .. .. .. .. .. 850.0 876.2 888.1 Public and publicly guaranteed .. .. .. .. .. 837.6 866.5 879.0 Official creditors .. .. .. .. .. 815.6 846.3 853.9 Multilateral .. .. .. .. .. 543.3 558.7 567.0 of which: IBRD .. .. .. .. .. 344.6 282.9 269.0 IDA .. .. .. .. .. 47.2 56.0 70.8 Bilateral .. .. .. .. .. 272.3 287.7 286.8 Private creditors .. .. .. .. .. 22.1 20.2 25.2 of which: Bonds .. .. .. .. .. 0.0 0.0 0.0 Commercial banks .. .. .. .. .. 22.1 20.2 25.2 Private nonguaranteed .. .. .. .. .. 12.4 9.7 9.1 of which: Bonds .. .. .. .. .. 0.0 0.0 0.0 Disbursements .. .. .. .. .. 96.3 84.5 70.1 Public and publicly guaranteed .. .. .. .. .. 94.0 83.5 66.6 Official creditors .. .. .. .. .. 88.0 83.5 59.0 Multilateral .. .. .. .. .. 45.4 55.7 35.0 of which: IBRD .. .. .. .. .. 0.0 0.0 0.0 IDA .. .. .. .. .. 14.0 6.6 15.4 Bilateral .. .. .. .. .. 42.6 27.8 24.1 Private creditors .. .. .. .. .. 6.0 0.0 7.5 of which: Bonds .. .. .. .. .. 0.0 0.0 0.0 Commercial banks .. .. .. .. .. 6.0 0.0 7.5 Private nonguaranteed .. .. .. .. .. 2.3 1.0 3.6 of which: Bonds .. .. .. .. .. 0.0 0.0 0.0 Principal repayments .. .. .. .. .. 12.7 108.0 28.0 Public and publicly guaranteed .. .. .. .. .. 12.4 104.0 25.0 Official creditors .. .. .. .. .. 12.0 103.6 23.7 Multilateral .. .. .. .. .. 8.3 97.1 13.0 of which: IBRD .. .. .. .. .. 7.8 95.5 10.4 IDA .. .. .. .. .. 0.0 0.0 0.0 Bilateral .. .. .. .. .. 3.7 6.5 10.6 Private creditors .. .. .. .. .. 0.4 0.4 1.3 of which: Bonds .. .. .. .. .. 0.0 0.0 0.0 Commercial banks .. .. .. .. .. 0.4 0.4 1.3 Private nonguaranteed .. .. .. .. .. 0.3 4.0 3.0 of which: Bonds .. .. .. .. .. 0.0 0.0 0.0 Interest payments .. .. .. .. .. 27.8 35.0 27.0 Public and publicly guaranteed .. .. .. .. .. 27.5 34.5 26.6 Official creditors .. .. .. .. .. 26.9 33.7 26.1 Multilateral .. .. .. .. .. 20.6 27.6 21.4 of which: IBRD .. .. .. .. .. 15.8 22.2 15.2 IDA .. .. .. .. .. 0.4 0.4 0.5 Bilateral .. .. .. .. .. 6.3 6.1 4.7 Private creditors .. .. .. .. .. 0.6 0.8 0.5 of which: Bonds .. .. .. .. .. 0.0 0.0 0.0 Commercial banks .. .. .. .. .. 0.6 0.8 0.5 Private nonguaranteed .. .. .. .. .. 0.3 0.6 0.4 of which: Bonds .. .. .. .. .. 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. .. .. .. 467.0 431.2 208.9 Net flows on external debt .. .. .. .. .. 83.5 -23.5 239.2 Cross-currency valuation .. .. .. .. .. 21.2 120.5 -2.5 9. Debt restructurings Total amount rescheduled .. .. .. .. .. 39.2 0.0 0.0 Total amount forgiven .. .. .. .. .. 0.2 205.4 0.0 Debt buyback .. .. .. .. .. 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 36.1 43.1 47.6 53.2 58.2 62.7 63.5 62.0 Interest 20.3 20.4 19.5 18.4 17.6 16.4 14.9 13.4 Private creditors Principal 2.4 4.1 4.7 5.3 5.0 5.0 4.2 4.5 Interest 1.2 1.3 1.3 1.2 1.0 0.9 0.7 0.6 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. Montenegro became independent in 2006 and reported for the first time in 2007. 199 MOROCCO 1. Summary external debt data External debt stocks 25,004 23,771 20,674 16,883 16,174 17,815 20,543 20,825 Long-term external debt 23,847 23,521 19,101 16,704 15,492 16,083 18,624 19,194 Public and publicly guaranteed 23,647 23,190 17,239 14,105 12,441 13,496 15,650 16,538 Private nonguaranteed 200 331 1,862 2,598 3,051 2,588 2,975 2,656 Use of IMF credit 750 52 0 0 0 0 0 0 Short-term external debt 407 198 1,573 179 682 1,732 1,919 1,631 interest arrears on long-term 182 92 122 11 0 0 0 0 Memorandum items 738 138 535 12 3 4 2 1 23,583 22,944 17,077 14,040 12,381 13,425 15,565 16,446 264 577 2,023 2,663 3,111 2,659 3,059 2,748 2,406 2,583 535 1,704 2,252 2,842 3,888 1,345 External debt flows Disbursements 1,853 2,309 1,638 1,203 2,456 2,426 3,976 4,554 Long-term external debt 1,788 2,309 1,638 1,203 2,456 2,426 3,976 4,554 IMF purchases 65 0 0 0 0 0 0 0 Principal repayments 908 2,368 1,631 2,379 2,138 2,784 3,325 3,451 Long-term external debt 680 2,268 1,631 2,379 2,138 2,784 3,325 3,451 IMF repurchases 228 100 0 0 0 0 0 0 Net flows 1,032 -81 -448 -2,250 832 692 838 814 Long-term external debt 1,108 41 7 -1,176 318 -358 651 1,102 Short-term external debt 86 -22 -455 -1,074 514 1,050 187 -288 Interest payments 887 1,391 1,075 617 590 616 694 752 Long-term external debt 795 1,360 948 592 569 540 590 709 IMF charges 72 7 0 0 0 0 0 0 Short-term external debt 20 24 127 25 22 76 104 43 2. Other non-debt resource flows Foreign direct investment (net) 165 92 221 787 1,620 2,366 2,807 2,466 Portfolio equity flows 0 20 18 597 64 -298 -64 148 Profit remittances on FDI 69 100 268 670 594 674 730 835 Grants (excluding technical coop.) 480 100 191 415 383 422 503 481 of which: Debt forgiveness grants .. .. 31 7 0 2 2 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 182 266 192 378 382 401 390 325 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 47.2 46.7 50.0 56.9 55.0 Japanese yen 2.2 3.8 3.3 5.4 5.1 5.0 4.7 6.1 Pound sterling 0.1 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0 U.S.dollars 40.1 27.2 37.6 26.5 23.8 19.6 12.6 11.9 4. Average terms of new commitments Official creditors Interest (%) 5.4 4.4 3.4 3.4 3.0 3.7 3.9 4.8 Maturity (years) 24.1 19.8 25.0 19.9 19.5 23.0 19.6 19.8 Grace period (years) 8.3 5.4 6.4 4.5 5.5 6.5 5.7 4.9 Private creditors Interest (%) 9.7 7.1 4.8 4.2 3.6 4.0 5.2 5.3 Maturity (years) 11.6 9.7 11.6 12.5 11.7 14.7 10.3 10.3 Grace period (years) 2.1 1.5 2.8 0.5 1.2 3.0 8.4 0.8 5. Major economic aggregates Gross national income (GNI) 24,835 31,668 36,053 55,961 58,760 64,703 74,139 85,236 Exports of goods, services & income 8,328 11,265 12,890 21,358 24,066 27,916 35,003 40,836 Worker remit. & comp. of employees 2,006 1,970 2,161 4,221 4,590 5,451 6,730 6,891 Imports of goods & services 8,853 12,812 13,686 21,035 23,811 27,383 36,098 47,481 International reserves 2,338 3,874 5,017 16,647 16,551 20,791 24,714 22,720 Current account balance -196 -1,186 -475 970 1,041 1,411 -122 -4,713 6. Ratios External debt stocks to exports (%) 300.2 211.0 160.4 79.0 67.2 63.8 58.7 51.0 External debt stocks to GNI (%) 100.7 75.1 57.3 30.2 27.5 27.5 27.7 24.4 Debt service to exports (%) 21.5 33.4 21.0 14.0 11.3 12.2 11.5 10.3 Short-term to external debt stocks (%) 1.6 0.8 7.6 1.1 4.2 9.7 9.3 7.8 Multilateral to external debt stocks (%) 18.7 29.1 29.5 35.6 36.3 37.2 38.4 41.2 Reserves to external debt stocks (%) 9.3 16.3 24.3 98.6 102.3 116.7 120.3 109.1 Reserves to imports (months) 3.2 3.6 4.4 9.5 8.3 9.1 8.2 5.7 200 MOROCCO 7. Long-term external debt Debt outstanding and disbursed 23,847 23,521 19,101 16,704 15,492 16,083 18,624 19,194 Public and publicly guaranteed 23,647 23,190 17,239 14,105 12,441 13,496 15,650 16,538 Official creditors 16,968 16,875 12,754 11,092 10,117 11,195 13,082 14,541 Multilateral 4,687 6,913 6,091 6,014 5,874 6,635 7,894 8,576 of which: IBRD 3,099 3,966 2,837 2,524 2,258 2,267 2,578 2,540 IDA 39 33 27 21 20 18 17 16 Bilateral 12,280 9,962 6,663 5,078 4,243 4,560 5,188 5,965 Private creditors 6,679 6,315 4,485 3,013 2,325 2,301 2,568 1,996 of which: Bonds 0 0 152 589 472 527 589 0 Commercial banks 3,963 4,234 3,300 1,832 1,466 1,470 1,745 1,749 Private nonguaranteed 200 331 1,862 2,598 3,051 2,588 2,975 2,656 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,788 2,309 1,638 1,203 2,456 2,426 3,976 4,554 Public and publicly guaranteed 1,780 2,206 980 963 1,658 1,850 2,714 3,093 Official creditors 1,220 1,521 631 861 1,562 1,531 1,810 2,800 Multilateral 781 1,008 466 651 1,134 1,030 1,125 1,533 of which: IBRD 426 426 138 129 262 176 418 242 IDA 0 0 0 0 0 0 0 0 Bilateral 439 513 166 210 427 501 685 1,267 Private creditors 560 686 349 102 97 320 904 292 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 190 224 143 91 74 313 903 222 Private nonguaranteed 8 103 658 240 798 575 1,262 1,461 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 680 2,268 1,631 2,379 2,138 2,784 3,325 3,451 Public and publicly guaranteed 672 2,238 1,592 2,094 1,881 1,558 1,861 1,795 Official creditors 430 1,638 926 1,455 1,303 1,063 990 1,043 Multilateral 276 625 550 803 689 591 525 592 of which: IBRD 202 348 307 468 309 330 294 262 IDA 1 1 1 1 1 1 1 1 Bilateral 154 1,012 376 652 613 472 464 450 Private creditors 242 600 666 639 578 495 872 753 of which: Bonds 0 0 30 40 41 0 0 589 Commercial banks 40 112 350 395 372 372 777 119 Private nonguaranteed 8 30 39 285 258 1,226 1,464 1,656 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 795 1,360 948 592 569 540 590 709 Public and publicly guaranteed 790 1,358 877 507 501 472 555 655 Official creditors 580 923 548 382 388 360 443 535 Multilateral 306 466 363 247 230 235 300 364 of which: IBRD 226 282 190 104 87 88 104 125 IDA 0 0 0 0 0 0 0 0 Bilateral 274 457 185 135 157 126 143 171 Private creditors 210 436 329 125 113 112 112 120 of which: Bonds 0 0 14 25 25 25 27 29 Commercial banks 45 259 228 58 65 70 72 80 Private nonguaranteed 5 2 71 85 68 67 34 54 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 2,773 798 -2,262 -1,320 -709 1,641 2,728 281 Net flows on external debt 1,032 -81 -448 -2,250 832 692 838 814 Cross-currency valuation 1,097 757 -732 619 -1,147 628 928 -317 9. Debt restructurings Total amount rescheduled 4,118 0 0 0 0 0 0 0 Total amount forgiven 31 0 117 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,266 1,362 1,383 1,544 1,480 1,484 1,417 1,380 Interest 556 574 564 540 503 462 418 375 Private creditors Principal 595 587 545 545 596 580 564 174 Interest 176 179 166 151 133 114 96 77 201 MOZAMBIQUE 1. Summary external debt data External debt stocks 4,650 7,458 7,247 4,782 4,467 2,931 3,012 3,432 Long-term external debt 4,231 6,978 6,450 4,093 3,679 2,308 2,438 2,788 Public and publicly guaranteed 4,211 5,209 4,733 3,682 3,679 2,308 2,438 2,788 Private nonguaranteed 19 1,769 1,717 411 0 0 0 0 Use of IMF credit 74 202 219 197 157 10 15 15 Short-term external debt 345 279 578 491 631 613 558 629 interest arrears on long-term 207 250 413 439 543 531 429 498 Memorandum items 725 1,086 762 604 520 519 466 478 4,211 5,209 4,733 3,682 3,679 2,308 2,438 2,788 19 1,769 1,717 411 0 0 0 0 177 150 238 315 166 313 450 464 External debt flows Disbursements 242 267 184 325 331 349 338 368 Long-term external debt 230 267 125 323 327 344 333 368 IMF purchases 12 0 60 2 5 5 5 0 Principal repayments 41 85 64 47 55 22 11 17 Long-term external debt 41 71 64 38 40 22 11 17 IMF repurchases 0 14 0 9 15 0 0 0 Net flows 173 193 56 268 312 321 374 353 Long-term external debt 189 196 61 284 286 322 322 351 Short-term external debt -28 11 -64 -10 36 -6 47 2 Interest payments 38 77 32 25 26 25 22 25 Long-term external debt 23 75 20 22 24 23 18 21 IMF charges 0 1 1 1 0 0 0 0 Short-term external debt 15 1 11 2 2 2 4 4 2. Other non-debt resource flows Foreign direct investment (net) 9 45 139 245 108 154 427 587 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 168 284 471 554 544 Grants (excluding technical coop.) 750 770 756 858 826 2,701 1,269 1,463 of which: Debt forgiveness grants .. .. 234 31 31 1,814 2 1 IDA grants .. .. .. 7 20 29 40 25 Memo: technical coop. grants 92 233 173 200 183 209 140 190 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.5 2.2 3.7 4.6 3.9 Japanese yen 1.8 1.8 1.8 1.3 1.1 1.8 1.8 2.0 Pound sterling 2.4 2.1 2.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 52.8 60.4 69.1 74.2 72.2 68.3 61.2 61.5 4. Average terms of new commitments Official creditors Interest (%) 1.3 0.9 0.8 0.8 0.7 0.7 0.9 0.9 Maturity (years) 34.8 36.8 46.7 40.7 38.6 43.5 35.8 38.8 Grace period (years) 9.2 9.3 12.9 10.2 10.1 9.7 9.3 13.8 Private creditors Interest (%) 9.0 0.0 0.0 0.0 0.0 4.9 5.7 0.0 Maturity (years) 4.9 0.0 0.0 0.0 0.0 11.2 11.5 0.0 Grace period (years) 2.9 0.0 0.0 0.0 0.0 1.7 2.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,320 2,069 4,017 5,358 6,095 6,414 7,274 8,721 Exports of goods, services & income 300 470 769 1,836 2,192 2,943 3,095 3,409 Worker remit. & comp. of employees 70 59 37 58 57 80 99 116 Imports of goods & services 1,164 1,254 1,763 2,755 3,350 4,201 4,452 5,205 International reserves 232 195 742 1,159 1,103 1,216 1,524 .. Current account balance -415 -445 -764 -607 -761 -773 -785 -975 6. Ratios External debt stocks to exports (%) 1,550.9 1,585.6 942.8 260.4 203.8 99.6 97.3 100.7 External debt stocks to GNI (%) 200.4 360.6 180.4 89.2 73.3 45.7 41.4 39.4 Debt service to exports (%) 26.2 34.5 12.5 3.9 3.7 1.6 1.1 1.2 Short-term to external debt stocks (%) 7.4 3.7 8.0 10.3 14.1 20.9 18.5 18.3 Multilateral to external debt stocks (%) 10.0 17.1 15.2 45.7 51.7 33.3 43.5 48.4 Reserves to external debt stocks (%) 5.0 2.6 10.2 24.2 24.7 41.5 50.6 .. Reserves to imports (months) 2.4 1.9 5.1 5.0 4.0 3.5 4.1 .. 202 MOZAMBIQUE 7. Long-term external debt Debt outstanding and disbursed 4,231 6,978 6,450 4,093 3,679 2,308 2,438 2,788 Public and publicly guaranteed 4,211 5,209 4,733 3,682 3,679 2,308 2,438 2,788 Official creditors 3,560 5,163 4,722 3,680 3,677 2,306 2,430 2,781 Multilateral 464 1,277 1,099 2,185 2,308 976 1,311 1,661 of which: IBRD 0 0 0 0 0 0 0 0 IDA 268 890 760 1,475 1,575 655 902 1,149 Bilateral 3,097 3,886 3,624 1,495 1,369 1,331 1,119 1,120 Private creditors 651 46 11 2 2 2 9 7 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 147 7 0 0 0 0 7 6 Private nonguaranteed 19 1,769 1,717 411 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 230 267 125 323 327 344 333 368 Public and publicly guaranteed 210 231 125 323 327 344 333 368 Official creditors 186 231 125 323 327 344 327 366 Multilateral 95 219 122 315 324 340 323 364 of which: IBRD 0 0 0 0 0 0 0 0 IDA 74 160 97 190 227 223 212 255 Bilateral 91 11 3 8 3 4 4 2 Private creditors 24 0 0 0 0 0 6 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 6 2 Private nonguaranteed 20 36 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 41 71 64 38 40 22 11 17 Public and publicly guaranteed 29 67 34 15 19 22 11 17 Official creditors 23 58 33 15 19 22 11 15 Multilateral 9 13 18 8 12 15 6 8 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 2 4 5 8 0 0 Bilateral 13 45 15 7 7 6 6 7 Private creditors 7 9 1 0 0 0 0 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 3 0 1 0 0 0 0 3 Private nonguaranteed 12 3 30 23 21 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 23 75 20 22 24 23 18 21 Public and publicly guaranteed 22 74 20 22 24 23 18 21 Official creditors 17 71 20 22 24 23 18 21 Multilateral 7 12 9 16 18 15 10 14 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 6 4 11 12 9 6 8 Bilateral 10 59 11 6 6 7 8 6 Private creditors 6 3 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 0 0 Private nonguaranteed 0 1 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 287 187 28 900 -315 -1,536 81 420 Net flows on external debt 173 193 56 268 312 321 374 353 Cross-currency valuation 176 86 -262 65 -169 -1,304 36 23 9. Debt restructurings Total amount rescheduled 386 66 0 0 0 0 14 0 Total amount forgiven 1,174 323 83 21 13 1,735 303 3 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 122 128 129 138 50 57 64 71 Interest 35 33 31 28 26 25 25 24 Private creditors Principal 4 6 6 6 6 6 6 6 Interest 1 2 2 2 2 1 1 1 Notes: Mozambique was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 203 MYANMAR 1. Summary external debt data External debt stocks 4,695 5,771 5,928 7,171 6,652 6,839 7,598 7,210 Long-term external debt 4,466 5,378 5,242 5,647 5,196 5,234 5,652 5,413 Public and publicly guaranteed 4,466 5,378 5,242 5,647 5,196 5,234 5,652 5,413 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 229 393 686 1,525 1,457 1,606 1,945 1,797 interest arrears on long-term 200 351 488 774 718 756 882 866 Memorandum items 376 1,359 1,738 2,724 2,598 2,755 3,188 3,143 4,389 5,269 5,146 5,551 5,113 5,156 5,567 5,333 77 109 95 96 83 77 85 81 42 118 0 0 0 0 0 0 External debt flows Disbursements 122 86 15 2 1 0 1 1 Long-term external debt 122 86 15 2 1 0 1 1 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 46 180 71 93 81 61 145 152 Long-term external debt 44 180 71 93 81 61 145 152 IMF repurchases 2 0 0 0 0 0 0 0 Net flows 91 -74 -16 -20 -92 50 69 -283 Long-term external debt 78 -95 -56 -91 -80 -61 -144 -151 Short-term external debt 14 20 41 71 -12 111 213 -132 Interest payments 14 70 16 43 55 63 57 36 Long-term external debt 13 68 4 13 10 9 17 15 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 2 2 12 30 44 54 40 21 2. Other non-debt resource flows Foreign direct investment (net) 163 280 258 214 237 279 258 283 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 147 0 137 762 1,402 1,317 0 0 Grants (excluding technical coop.) 37 164 45 90 106 108 170 505 of which: Debt forgiveness grants .. .. 18 4 4 4 4 4 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 34 45 50 36 38 34 35 35 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.9 11.2 12.1 13.1 11.3 Japanese yen 46.8 52.3 45.3 46.4 45.1 43.9 45.6 46.4 Pound sterling 1.7 1.3 1.2 1.5 1.5 1.7 1.6 1.2 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 24.3 22.6 34.9 31.5 33.3 33.4 31.0 31.8 4. Average terms of new commitments Official creditors Interest (%) 1.5 2.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 16.7 33.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 5.2 24.4 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 3.5 0.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 11.6 6.4 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.1 1.8 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. .. .. .. .. Exports of goods, services & income 328 1,404 2,252 3,303 4,190 4,998 .. .. Worker remit. & comp. of employees 6 81 104 118 131 116 125 150 Imports of goods & services 797 2,146 2,662 3,244 3,689 4,252 .. .. International reserves 410 651 286 773 889 1,383 .. .. Current account balance -436 -261 -212 112 588 802 .. .. 6. Ratios External debt stocks to exports (%) 1,433.2 411.0 263.3 217.1 158.8 136.8 .. .. External debt stocks to GNI (%) .. .. .. .. .. .. .. .. Debt service to exports (%) 18.4 17.8 3.9 4.1 3.2 2.5 .. .. Short-term to external debt stocks (%) 4.9 6.8 11.6 21.3 21.9 23.5 25.6 24.9 Multilateral to external debt stocks (%) 26.3 23.1 19.4 17.9 18.5 18.3 17.0 18.2 Reserves to external debt stocks (%) 8.7 11.3 4.8 10.8 13.4 20.2 .. .. Reserves to imports (months) 6.2 3.6 1.3 2.9 2.9 3.9 .. .. 204 MYANMAR 7. Long-term external debt Debt outstanding and disbursed 4,466 5,378 5,242 5,647 5,196 5,234 5,652 5,413 Public and publicly guaranteed 4,466 5,378 5,242 5,647 5,196 5,234 5,652 5,413 Official creditors 4,216 5,011 4,262 4,794 4,385 4,415 4,799 4,597 Multilateral 1,234 1,331 1,148 1,285 1,228 1,253 1,290 1,311 of which: IBRD 0 0 0 0 0 0 0 0 IDA 716 777 684 774 752 776 793 770 Bilateral 2,982 3,680 3,114 3,508 3,158 3,162 3,508 3,286 Private creditors 250 367 980 853 810 819 854 817 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 546 546 546 546 546 546 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 122 86 15 2 1 0 1 1 Public and publicly guaranteed 122 86 15 2 1 0 1 1 Official creditors 119 17 12 2 1 0 1 1 Multilateral 68 0 1 1 0 0 0 0 of which: IBRD 0 0 0 0 0 0 0 0 IDA 57 0 0 0 0 0 0 0 Bilateral 51 16 11 1 1 0 1 0 Private creditors 3 69 3 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 44 180 71 93 81 61 145 152 Public and publicly guaranteed 44 180 71 93 81 61 145 152 Official creditors 33 147 2 61 55 53 145 152 Multilateral 15 25 2 2 2 2 2 1 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 9 0 0 0 0 0 0 Bilateral 18 122 0 58 53 51 143 151 Private creditors 11 34 69 32 26 8 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 13 68 4 13 10 9 17 15 Public and publicly guaranteed 13 68 4 13 10 9 17 15 Official creditors 10 66 0 12 10 9 17 15 Multilateral 10 13 0 0 0 0 0 0 of which: IBRD 0 0 0 0 0 0 0 0 IDA 5 6 0 0 0 0 0 0 Bilateral 0 53 0 12 10 8 17 15 Private creditors 2 2 3 1 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 504 -785 -76 -111 -519 187 758 -388 Net flows on external debt 91 -74 -16 -20 -92 50 69 -283 Cross-currency valuation 306 -755 -577 -21 -332 99 579 -87 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 208 171 149 140 126 111 99 70 Interest 23 19 17 14 12 11 9 8 Private creditors Principal 273 273 0 0 0 0 0 0 Interest 17 7 0 0 0 0 0 0 Notes: Data relate to the year ending in March. Data on long-term public and publicly guaranteed debt for end-March 2008 are estimates based on the original terms of the loans. 205 NEPAL 1. Summary external debt data External debt stocks 1,627 2,410 2,867 3,357 3,180 3,392 3,602 3,685 Long-term external debt 1,559 2,339 2,826 3,299 3,112 3,268 3,468 3,551 Public and publicly guaranteed 1,559 2,339 2,826 3,299 3,112 3,268 3,468 3,551 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 44 48 12 22 20 43 79 77 Short-term external debt 24 23 29 36 47 81 55 57 interest arrears on long-term 4 2 0 0 0 0 0 0 Memorandum items 6 8 0 0 0 0 0 0 1,553 2,338 2,826 3,299 3,112 3,268 3,468 3,551 5 0 0 0 0 0 0 0 238 89 86 233 195 166 131 72 External debt flows Disbursements 168 164 154 124 192 184 175 103 Long-term external debt 168 164 154 113 192 163 141 103 IMF purchases 0 0 0 11 0 21 33 0 Principal repayments 40 53 71 86 85 105 113 127 Long-term external debt 28 45 67 85 85 105 113 127 IMF repurchases 12 8 4 1 0 0 0 0 Net flows 130 71 69 61 118 113 36 -21 Long-term external debt 140 119 87 29 107 58 29 -23 Short-term external debt 2 -40 -14 23 11 34 -26 2 Interest payments 28 32 31 32 32 34 35 35 Long-term external debt 24 29 28 31 30 30 30 34 IMF charges 2 0 0 0 0 0 0 0 Short-term external debt 2 2 3 1 2 4 4 1 2. Other non-debt resource flows Foreign direct investment (net) 6 0 0 0 2 -7 6 1 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 45 57 56 54 44 Grants (excluding technical coop.) 143 171 143 267 322 315 437 710 of which: Debt forgiveness grants .. .. 19 1 34 30 15 114 IDA grants .. .. .. 1 13 22 43 71 Memo: technical coop. grants 106 142 106 114 119 123 97 102 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.3 2.1 2.1 2.1 1.7 Japanese yen 8.5 11.3 9.2 7.2 8.9 7.7 7.1 8.0 Pound sterling 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.0 44.0 38.6 43.3 43.6 44.2 43.5 42.5 4. Average terms of new commitments Official creditors Interest (%) 0.9 3.5 1.4 1.0 1.1 1.3 1.9 0.6 Maturity (years) 38.5 29.8 31.4 36.8 34.6 24.6 25.2 30.8 Grace period (years) 10.3 7.9 8.1 9.5 8.7 8.1 6.3 9.7 Private creditors Interest (%) 0.0 0.0 0.0 3.9 0.0 0.0 3.0 0.0 Maturity (years) 0.0 0.0 0.0 26.7 0.0 0.0 27.0 0.0 Grace period (years) 0.0 0.0 0.0 7.5 0.0 0.0 8.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,640 4,407 5,514 7,251 8,153 9,144 10,388 12,737 Exports of goods, services & income 447 1,129 1,466 2,090 2,549 2,766 3,308 4,527 Worker remit. & comp. of employees .. 57 111 823 1,212 1,453 1,734 2,727 Imports of goods & services 845 1,659 1,825 2,371 2,803 3,030 3,743 4,456 International reserves 354 646 987 1,529 1,565 .. .. .. Current account balance -289 -356 -131 100 153 150 6 733 6. Ratios External debt stocks to exports (%) 363.7 213.4 195.6 160.6 124.7 122.6 108.9 81.4 External debt stocks to GNI (%) 44.7 54.7 52.0 46.3 39.0 37.1 34.7 28.9 Debt service to exports (%) 15.2 7.5 6.9 5.6 4.6 5.0 4.5 3.6 Short-term to external debt stocks (%) 1.5 0.9 1.0 1.1 1.5 2.4 1.5 1.5 Multilateral to external debt stocks (%) 78.0 81.0 85.7 88.1 86.1 86.0 86.8 86.5 Reserves to external debt stocks (%) 21.8 26.8 34.4 45.6 49.2 .. .. .. Reserves to imports (months) 5.0 4.7 6.5 7.7 6.7 .. .. .. 206 NEPAL 7. Long-term external debt Debt outstanding and disbursed 1,559 2,339 2,826 3,299 3,112 3,268 3,468 3,551 Public and publicly guaranteed 1,559 2,339 2,826 3,299 3,112 3,268 3,468 3,551 Official creditors 1,461 2,281 2,821 3,293 3,108 3,264 3,464 3,547 Multilateral 1,268 1,952 2,457 2,959 2,737 2,918 3,126 3,187 of which: IBRD 0 0 0 0 0 0 0 0 IDA 667 1,023 1,132 1,491 1,396 1,468 1,524 1,507 Bilateral 193 329 364 334 370 346 338 360 Private creditors 97 58 5 6 5 5 5 4 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 168 164 154 113 192 163 141 103 Public and publicly guaranteed 168 164 154 113 192 163 141 103 Official creditors 166 164 154 113 192 163 141 103 Multilateral 146 151 142 96 86 157 135 102 of which: IBRD 0 0 0 0 0 0 0 0 IDA 68 82 49 72 33 43 35 31 Bilateral 20 13 11 17 106 6 6 2 Private creditors 2 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 28 45 67 85 85 105 113 127 Public and publicly guaranteed 28 45 67 85 85 105 113 127 Official creditors 13 40 59 84 85 104 112 126 Multilateral 10 24 37 58 61 68 81 93 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 7 16 27 30 31 34 39 Bilateral 3 16 22 27 24 36 32 33 Private creditors 14 5 8 0 1 0 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 24 29 28 31 30 30 30 34 Public and publicly guaranteed 24 29 28 31 30 30 30 34 Official creditors 14 24 27 30 30 30 30 34 Multilateral 10 17 22 25 26 25 26 29 of which: IBRD 0 0 0 0 0 0 0 0 IDA 5 7 8 11 12 11 11 12 Bilateral 4 8 5 5 4 5 4 4 Private creditors 11 5 1 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 271 89 -152 194 -177 213 210 83 Net flows on external debt 130 71 69 61 118 113 36 -21 Cross-currency valuation 125 8 -190 131 -280 94 165 -101 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 133 146 155 159 166 175 180 181 Interest 45 45 45 44 43 42 41 39 Private creditors Principal 1 1 1 1 1 1 1 0 Interest 0 0 0 0 0 0 0 0 207 NICARAGUA 1. Summary external debt data External debt stocks 10,751 10,396 6,740 5,012 4,928 4,106 3,422 3,558 Long-term external debt 8,319 8,572 5,659 4,267 4,187 3,425 2,534 2,727 Public and publicly guaranteed 8,319 8,572 5,378 3,989 3,895 3,193 2,173 2,259 Private nonguaranteed 0 0 281 278 292 232 361 468 Use of IMF credit 0 39 169 248 201 63 85 111 Short-term external debt 2,432 1,785 912 497 540 617 803 720 interest arrears on long-term 1,693 1,475 791 364 364 438 467 472 Memorandum items 2,464 3,230 900 550 550 558 482 465 8,319 8,572 5,433 3,989 3,895 3,192 2,166 2,253 0 0 226 278 292 233 368 474 447 361 185 229 146 572 64 218 External debt flows Disbursements 577 277 535 408 288 307 596 435 Long-term external debt 577 277 509 367 288 246 577 406 IMF purchases 0 0 27 41 0 61 18 29 Principal repayments 4 203 189 83 118 112 329 195 Long-term external debt 4 190 183 74 110 112 329 195 IMF repurchases 0 13 5 9 9 0 0 0 Net flows 593 88 349 297 212 198 424 153 Long-term external debt 572 87 325 293 178 134 248 212 Short-term external debt 21 13 3 -28 43 3 157 -88 Interest payments 11 85 98 47 53 59 78 80 Long-term external debt 5 76 91 40 45 51 65 70 IMF charges 0 1 1 1 0 0 0 0 Short-term external debt 6 8 7 6 8 8 13 9 2. Other non-debt resource flows Foreign direct investment (net) 1 89 267 250 241 287 382 626 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 29 69 80 82 85 93 113 Grants (excluding technical coop.) 241 410 254 1,152 508 1,544 1,712 513 of which: Debt forgiveness grants .. .. 7 870 199 1,182 1,174 33 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 73 132 116 102 108 115 84 108 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.4 0.5 1.3 3.7 4.1 Japanese yen 0.0 1.3 2.3 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 U.S.dollars 79.9 72.8 71.0 80.4 80.8 76.2 85.0 85.0 4. Average terms of new commitments Official creditors Interest (%) 4.4 2.3 1.6 1.0 1.3 3.0 1.9 2.4 Maturity (years) 12.4 32.2 36.9 38.7 33.1 27.1 25.0 33.2 Grace period (years) 1.8 8.4 9.7 9.9 8.9 7.7 5.9 9.5 Private creditors Interest (%) 9.4 7.4 0.7 0.0 0.0 0.0 0.0 0.0 Maturity (years) 4.9 9.0 39.9 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.4 1.0 10.5 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 988 2,821 3,735 4,266 4,729 5,176 5,595 6,432 Exports of goods, services & income 404 744 1,453 2,183 2,601 3,117 3,497 3,778 Worker remit. & comp. of employees .. 75 320 519 616 698 740 818 Imports of goods & services 911 1,529 2,385 3,068 3,577 4,133 4,832 5,541 International reserves 166 142 492 668 728 922 1,103 1,141 Current account balance -305 -722 -842 -649 -734 -710 -1,001 -1,513 6. Ratios External debt stocks to exports (%) 2,661.1 1,397.8 464.0 229.6 189.5 131.7 97.9 94.2 External debt stocks to GNI (%) 1,088.4 368.6 180.5 117.5 104.2 79.3 61.2 55.3 Debt service to exports (%) 3.9 38.7 19.7 6.0 6.6 5.5 11.7 7.3 Short-term to external debt stocks (%) 22.6 17.2 13.5 9.9 11.0 15.0 23.5 20.2 Multilateral to external debt stocks (%) 8.7 14.1 31.5 55.0 56.8 50.6 33.7 35.1 Reserves to external debt stocks (%) 1.5 1.4 7.3 13.3 14.8 22.5 32.2 32.1 Reserves to imports (months) 2.2 1.1 2.5 2.6 2.4 2.7 2.7 2.5 208 NICARAGUA 7. Long-term external debt Debt outstanding and disbursed 8,319 8,572 5,659 4,267 4,187 3,425 2,534 2,727 Public and publicly guaranteed 8,319 8,572 5,378 3,989 3,895 3,193 2,173 2,259 Official creditors 6,774 7,562 5,162 3,840 3,822 3,120 2,168 2,255 Multilateral 940 1,464 2,125 2,758 2,798 2,076 1,152 1,250 of which: IBRD 239 65 5 0 0 0 0 0 IDA 60 276 654 1,167 1,136 256 321 347 Bilateral 5,833 6,098 3,037 1,081 1,024 1,045 1,016 1,005 Private creditors 1,545 1,010 216 150 72 73 5 4 of which: Bonds 0 524 0 0 0 0 0 0 Commercial banks 1,305 383 188 132 55 55 0 0 Private nonguaranteed 0 0 281 278 292 232 361 468 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 577 277 509 367 288 246 577 406 Public and publicly guaranteed 577 277 224 299 227 246 369 188 Official creditors 554 258 218 299 227 246 369 188 Multilateral 7 177 170 285 216 221 339 136 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 18 87 126 63 61 53 28 Bilateral 546 80 48 13 11 25 30 52 Private creditors 23 20 6 1 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 20 5 0 0 0 0 0 Private nonguaranteed 0 0 285 68 61 0 209 219 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 4 190 183 74 110 112 329 195 Public and publicly guaranteed 4 190 70 31 63 53 214 53 Official creditors 1 89 61 28 63 53 197 53 Multilateral 1 47 36 11 21 33 170 23 of which: IBRD 1 15 5 0 0 0 0 0 IDA 0 1 2 0 0 5 0 0 Bilateral 1 42 26 17 41 20 28 30 Private creditors 3 101 8 3 0 0 17 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 96 5 3 0 0 17 0 Private nonguaranteed 0 0 114 43 47 59 115 142 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 5 76 91 40 45 51 65 70 Public and publicly guaranteed 5 76 78 33 43 49 46 39 Official creditors 4 72 76 33 43 49 46 39 Multilateral 1 33 64 23 27 33 28 25 of which: IBRD 1 6 1 0 0 0 0 0 IDA 0 2 5 6 7 5 2 3 Bilateral 3 39 12 11 17 16 18 15 Private creditors 1 3 3 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 3 2 0 0 0 0 0 Private nonguaranteed 0 0 12 7 2 2 20 31 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,060 -1,606 -47 -1,762 -84 -822 -683 136 Net flows on external debt 593 88 349 297 212 198 424 153 Cross-currency valuation 83 -58 -119 97 -122 -1,203 6 -5 9. Debt restructurings Total amount rescheduled 30 263 149 176 1 2 0 0 Total amount forgiven 0 2,273 35 1,772 145 1,023 1,276 56 Debt buyback 0 89 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 88 83 78 83 85 84 88 90 Interest 41 40 39 37 35 33 31 29 Private creditors Principal 105 92 80 76 51 40 22 5 Interest 25 19 13 8 5 2 0 0 Notes: Nicaragua was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 209 NIGER 1. Summary external debt data External debt stocks 1,761.9 1,608.3 1,712.7 2,020.1 2,023.4 867.9 966.7 965.5 Long-term external debt 1,523.4 1,484.6 1,566.9 1,875.7 1,855.2 794.3 888.4 895.8 Public and publicly guaranteed 1,262.4 1,351.2 1,498.9 1,836.6 1,822.6 768.2 868.9 882.7 Private nonguaranteed 261.0 133.4 68.0 39.1 32.6 26.1 19.5 13.0 Use of IMF credit 84.9 52.1 74.0 135.4 127.6 26.5 40.1 50.7 Short-term external debt 153.6 71.6 71.9 8.9 40.5 47.1 38.2 19.1 interest arrears on long-term 31.3 52.9 59.6 2.9 37.5 38.1 38.2 19.1 Memorandum items 79.7 74.3 96.7 13.3 51.9 83.2 86.8 104.7 1,259.7 1,351.2 1,498.9 1,836.6 1,822.6 768.2 868.9 882.7 263.8 133.4 68.0 39.1 32.6 26.1 19.5 13.0 56.3 8.3 64.3 112.7 131.5 188.2 51.9 101.3 External debt flows Disbursements 147.8 28.3 87.3 129.4 154.1 125.9 94.2 107.3 Long-term external debt 138.7 28.3 76.1 116.9 136.8 117.3 82.3 95.4 IMF purchases 9.2 0.0 11.2 12.5 17.4 8.6 11.9 11.9 Principal repayments 62.8 41.1 15.8 29.5 27.1 167.2 16.6 19.7 Long-term external debt 47.2 30.9 14.0 22.8 21.8 53.1 16.6 19.7 IMF repurchases 15.5 10.2 1.8 6.7 5.3 114.1 0.0 0.0 Net flows 123.3 -9.0 51.5 103.2 124.0 -35.3 68.6 87.6 Long-term external debt 91.5 -2.6 62.1 94.1 115.0 64.2 65.7 75.7 Short-term external debt 38.3 3.8 -20.0 3.3 -3.0 6.0 -9.0 0.0 Interest payments 36.0 14.7 10.2 13.0 13.5 11.7 9.6 7.1 Long-term external debt 23.3 12.5 8.2 12.2 12.8 11.1 9.1 6.9 IMF charges 3.5 1.1 0.3 0.6 0.4 0.1 0.2 0.2 Short-term external debt 9.1 1.0 1.7 0.2 0.2 0.4 0.3 0.0 2. Other non-debt resource flows Foreign direct investment (net) 40.8 7.2 8.4 26.3 44.0 50.5 129.0 147.0 Portfolio equity flows 0.0 0.0 0.5 3.8 0.6 0.0 -0.5 0.0 Profit remittances on FDI 22.6 3.8 1.9 15.8 20.9 12.5 28.2 0.0 Grants (excluding technical coop.) 225.9 169.9 112.2 456.1 394.2 1,571.4 394.6 488.4 of which: Debt forgiveness grants .. .. 18.8 211.1 61.6 1,277.0 11.2 11.0 IDA grants .. .. .. 7.7 30.3 28.1 43.8 47.0 Memo: technical coop. grants 100.6 108.7 45.5 57.1 60.3 102.4 58.5 75.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.1 11.1 1.1 0.5 0.5 Japanese yen 1.3 4.4 1.7 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.7 1.0 1.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 27.2 37.0 46.8 59.0 57.9 50.9 50.1 49.7 4. Average terms of new commitments Official creditors Interest (%) 1.9 0.6 0.7 1.2 0.9 0.8 1.6 1.3 Maturity (years) 31.9 33.5 36.5 30.3 34.9 36.7 28.3 36.9 Grace period (years) 9.2 8.4 9.4 7.9 8.8 9.5 7.7 9.2 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,423.4 1,830.1 1,781.9 3,039.3 3,396.6 3,647.0 4,245.2 5,337.5 Exports of goods, services & income 566.3 333.5 338.2 599.5 647.7 689.6 849.8 .. Worker remit. & comp. of employees 14.0 8.0 14.0 59.7 66.4 78.1 79.4 79.4 Imports of goods & services 802.9 510.3 485.1 891.3 1,095.4 1,117.6 1,343.6 .. International reserves 226.5 94.7 80.4 258.0 249.5 370.9 593.0 702.1 Current account balance -235.9 -151.7 -104.1 -230.9 -311.5 -313.7 -351.3 .. 6. Ratios External debt stocks to exports (%) 311.1 482.3 506.4 337.0 312.4 125.9 113.8 .. External debt stocks to GNI (%) 72.7 87.9 96.1 66.5 59.6 23.8 22.8 18.1 Debt service to exports (%) 17.4 16.7 7.7 7.1 6.3 25.9 3.1 .. Short-term to external debt stocks (%) 8.7 4.5 4.2 0.4 2.0 5.4 3.9 2.0 Multilateral to external debt stocks (%) 40.5 55.1 60.4 79.9 79.0 64.7 68.2 69.0 Reserves to external debt stocks (%) 12.9 5.9 4.7 12.8 12.3 42.7 61.3 72.7 Reserves to imports (months) 3.4 2.2 2.0 3.5 2.7 4.0 5.3 .. 210 NIGER 7. Long-term external debt Debt outstanding and disbursed 1,523.4 1,484.6 1,566.9 1,875.7 1,855.2 794.3 888.4 895.8 Public and publicly guaranteed 1,262.4 1,351.2 1,498.9 1,836.6 1,822.6 768.2 868.9 882.7 Official creditors 1,151.1 1,351.2 1,498.9 1,836.6 1,822.6 768.2 868.9 882.7 Multilateral 713.1 886.0 1,034.0 1,614.1 1,597.7 561.2 658.9 666.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 460.6 597.9 723.2 1,106.1 1,080.1 188.9 234.9 248.1 Bilateral 438.0 465.2 464.8 222.6 224.9 207.0 210.0 216.5 Private creditors 111.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 109.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 261.0 133.4 68.0 39.1 32.6 26.1 19.5 13.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 138.7 28.3 76.1 116.9 136.8 117.3 82.3 95.4 Public and publicly guaranteed 95.7 28.3 76.1 116.9 136.8 117.3 82.3 95.4 Official creditors 90.3 28.3 76.1 116.9 136.8 117.3 82.3 95.4 Multilateral 69.5 27.9 76.1 116.3 134.9 111.7 82.3 77.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 54.8 23.8 68.0 65.1 65.5 54.9 36.7 15.1 Bilateral 20.9 0.4 0.0 0.6 1.9 5.5 0.0 18.2 Private creditors 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 43.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 47.2 30.9 14.0 22.8 21.8 53.1 16.6 19.7 Public and publicly guaranteed 10.2 7.1 12.0 16.3 15.3 46.6 10.1 13.2 Official creditors 8.6 7.1 12.0 16.3 15.3 46.6 10.1 13.2 Multilateral 6.7 6.9 10.4 12.0 13.7 33.3 9.8 12.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 1.3 2.9 8.2 1.9 0.9 8.3 0.0 0.1 Bilateral 1.9 0.2 1.6 4.4 1.6 13.3 0.3 0.8 Private creditors 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 37.0 23.8 2.0 6.5 6.5 6.5 6.5 6.5 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 23.3 12.5 8.2 12.2 12.8 11.1 9.1 6.9 Public and publicly guaranteed 7.2 7.0 8.1 11.2 11.2 9.2 7.5 6.1 Official creditors 7.1 7.0 8.1 11.2 11.2 9.2 7.5 6.1 Multilateral 5.7 6.6 6.6 11.0 11.0 8.8 6.5 4.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.7 4.9 5.6 6.8 6.0 4.9 1.8 1.3 Bilateral 1.4 0.4 1.4 0.3 0.3 0.5 0.9 1.2 Private creditors 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 16.1 5.5 0.2 1.0 1.5 1.9 1.7 0.8 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 229.7 61.8 4.9 -109.4 3.3 -1,155.5 98.8 -1.2 Net flows on external debt 123.3 -9.0 51.5 103.2 124.0 -35.3 68.6 87.6 Cross-currency valuation 36.4 -37.3 -62.5 68.4 -120.6 -1,026.6 40.8 -0.4 9. Debt restructurings Total amount rescheduled 28.7 4.9 28.0 71.1 0.0 0.3 0.0 0.0 Total amount forgiven 0.4 3.5 0.0 283.8 18.4 1,205.8 1.4 41.8 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 51.1 37.9 38.5 45.5 32.1 32.1 36.5 40.7 Interest 9.8 10.0 10.2 10.3 10.1 9.9 9.6 9.1 Private creditors Principal 6.5 6.5 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.4 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Niger was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. Long-term private nonguaranteed debt data are World Bank staff estimates. 211 NIGERIA 1. Summary external debt data External debt stocks 33,439 34,092 31,355 37,767 22,034 7,634 8,696 11,221 Long-term external debt 31,935 28,441 30,235 32,521 20,198 3,744 3,752 3,765 Public and publicly guaranteed 31,545 28,140 30,020 32,521 20,198 3,744 3,577 3,590 Private nonguaranteed 391 301 215 0 0 0 175 175 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 1,504 5,651 1,120 5,246 1,836 3,890 4,944 7,456 interest arrears on long-term 1,040 4,717 44 3,895 3 0 0 0 Memorandum items 1,091 8,102 117 1,899 3 0 0 0 31,545 28,077 29,964 32,483 20,169 3,720 3,558 3,576 391 365 271 38 29 24 194 189 2,192 0 86 252 706 507 777 968 External debt flows Disbursements 927 433 153 280 353 743 689 385 Long-term external debt 927 433 153 280 353 743 689 385 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 1,180 918 1,091 1,163 3,862 6,441 851 359 Long-term external debt 1,180 918 1,091 1,163 3,862 6,441 851 359 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -34 -559 -696 -275 -3,027 -3,640 892 2,538 Long-term external debt -253 -486 -937 -884 -3,510 -5,697 -162 26 Short-term external debt 219 -73 241 609 482 2,057 1,054 2,512 Interest payments 2,155 915 754 562 5,000 373 336 250 Long-term external debt 2,123 859 690 541 4,937 259 93 101 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 32 56 64 21 64 114 243 149 2. Other non-debt resource flows Foreign direct investment (net) 588 1,079 1,140 1,874 4,983 8,824 6,032 3,636 Portfolio equity flows 0 0 0 0 751 1,769 1,447 -4,684 Profit remittances on FDI 135 1,330 2,279 2,689 2,604 7,756 13,057 12,186 Grants (excluding technical coop.) 125 33 49 163 5,847 11,384 1,321 843 of which: Debt forgiveness grants .. .. 0 0 5,548 9,666 763 72 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 94 79 69 244 204 317 162 201 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 42.1 36.2 4.1 5.0 3.5 Japanese yen 8.2 12.6 2.3 12.1 9.9 0.0 0.0 0.0 Pound sterling 11.8 9.9 1.5 16.8 17.2 0.3 0.2 0.2 Swiss franc 0.7 0.6 0.0 1.8 1.9 0.0 0.0 0.0 U.S.dollars 38.8 29.6 85.1 21.1 27.2 59.2 57.0 58.4 4. Average terms of new commitments Official creditors Interest (%) 5.8 0.0 1.0 0.8 0.7 1.6 0.8 0.8 Maturity (years) 22.4 0.0 32.9 34.6 37.6 28.2 40.7 40.2 Grace period (years) 6.1 0.0 9.7 10.1 10.3 7.1 10.1 9.9 Private creditors Interest (%) 7.9 0.0 0.0 0.0 0.0 0.0 6.0 0.0 Maturity (years) 13.1 0.0 0.0 0.0 0.0 0.0 10.4 0.0 Grace period (years) 3.7 0.0 0.0 0.0 0.0 0.0 3.0 0.0 5. Major economic aggregates Gross national income (GNI) 25,585 25,888 40,256 78,110 98,881 141,277 155,392 197,319 Exports of goods, services & income 14,771 13,246 22,574 40,532 56,266 .. 87,295 .. Worker remit. & comp. of employees 10 804 1,392 2,273 3,329 5,435 9,221 9,980 Imports of goods & services 9,858 15,820 15,383 23,671 32,046 .. 65,394 .. International reserves 4,129 1,709 10,099 17,257 28,632 42,735 51,907 53,599 Current account balance 4,988 -2,578 7,427 16,840 24,202 .. 21,972 .. 6. Ratios External debt stocks to exports (%) 226.4 257.4 138.9 93.2 39.2 .. 10.0 .. External debt stocks to GNI (%) 130.7 131.7 77.9 48.4 22.3 5.4 5.6 5.7 Debt service to exports (%) 22.6 13.8 8.2 4.3 15.8 .. 1.4 .. Short-term to external debt stocks (%) 4.5 16.6 3.6 13.9 8.3 51.0 56.9 66.4 Multilateral to external debt stocks (%) 11.2 14.5 10.5 7.5 11.5 35.2 33.4 26.6 Reserves to external debt stocks (%) 12.3 5.0 32.2 45.7 129.9 559.8 596.9 477.7 Reserves to imports (months) 5.0 1.3 7.9 8.7 10.7 .. 9.5 .. 212 NIGERIA 7. Long-term external debt Debt outstanding and disbursed 31,935 28,441 30,235 32,521 20,198 3,744 3,752 3,765 Public and publicly guaranteed 31,545 28,140 30,020 32,521 20,198 3,744 3,577 3,590 Official creditors 17,007 20,492 26,574 30,189 18,015 2,962 3,260 3,312 Multilateral 3,732 4,944 3,302 2,848 2,536 2,687 2,904 2,989 of which: IBRD 3,284 3,221 1,625 1,027 722 534 381 211 IDA 36 268 644 967 1,136 1,541 1,929 2,243 Bilateral 13,275 15,548 23,272 27,341 15,479 275 356 323 Private creditors 14,537 7,648 3,446 2,332 2,183 782 316 278 of which: Bonds 0 2,051 2,051 1,442 1,442 0 0 0 Commercial banks 5,714 0 0 20 11 0 0 0 Private nonguaranteed 391 301 215 0 0 0 175 175 of which: Bonds 0 0 0 0 0 0 175 175 Disbursements 927 433 153 280 353 743 689 385 Public and publicly guaranteed 927 433 153 280 353 743 514 385 Official creditors 642 433 153 238 345 502 468 385 Multilateral 542 433 153 188 286 377 386 383 of which: IBRD 384 189 31 0 0 0 0 0 IDA 7 86 55 156 265 362 335 353 Bilateral 100 0 0 50 59 125 82 2 Private creditors 285 0 0 42 8 241 45 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 175 0 of which: Bonds 0 0 0 0 0 0 175 0 Principal repayments 1,180 918 1,091 1,163 3,862 6,441 851 359 Public and publicly guaranteed 1,165 908 1,056 1,163 3,862 6,441 851 359 Official creditors 774 470 914 1,028 3,684 4,801 319 322 Multilateral 246 470 404 362 367 339 306 293 of which: IBRD 241 392 273 216 224 211 176 189 IDA 1 1 4 19 19 19 20 20 Bilateral 528 0 510 665 3,317 4,461 12 30 Private creditors 391 438 142 136 179 1,640 533 37 of which: Bonds 0 0 0 0 0 1,442 0 0 Commercial banks 388 0 0 1 3 1 0 0 Private nonguaranteed 15 10 35 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 2,123 859 690 541 4,937 259 93 101 Public and publicly guaranteed 2,120 840 673 541 4,937 259 86 84 Official creditors 1,300 323 516 403 4,717 91 80 83 Multilateral 262 323 190 115 97 86 74 62 of which: IBRD 243 266 103 49 39 33 25 17 IDA 0 2 5 11 12 14 15 17 Bilateral 1,038 0 326 288 4,620 5 7 21 Private creditors 820 516 157 137 220 168 6 1 of which: Bonds 0 128 128 90 170 143 0 0 Commercial banks 378 0 0 0 3 0 0 0 Private nonguaranteed 3 19 18 0 0 0 7 17 of which: Bonds 0 0 0 0 0 0 7 17 8. Debt stock-flow reconciliation Total change in external debt stocks 3,317 1,000 2,227 3,150 -15,733 -14,400 1,062 2,525 Net flows on external debt -34 -559 -696 -275 -3,027 -3,640 892 2,538 Cross-currency valuation 2,014 606 -1,189 1,625 -3,143 1,376 48 90 9. Debt restructurings Total amount rescheduled 1,480 0 20,920 109 0 1 0 0 Total amount forgiven 286 95 0 0 7,284 10,891 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 276 226 185 140 142 128 88 101 Interest 68 56 47 42 40 37 36 35 Private creditors Principal 113 67 64 64 6 6 6 6 Interest 30 26 23 19 17 17 17 17 Notes: Data from 1992 to 2002 are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreement signed in 2005. Long-term private nonguaranteed debt data only cover Bonds. 213 PAKISTAN 1. Summary external debt data External debt stocks 20,663 30,229 32,781 35,536 33,158 35,987 40,737 49,337 Long-term external debt 16,643 25,381 29,733 32,415 30,436 33,202 37,127 43,591 Public and publicly guaranteed 16,506 23,788 27,173 30,878 29,472 32,295 35,974 39,359 Private nonguaranteed 138 1,593 2,560 1,537 964 907 1,153 4,232 Use of IMF credit 835 1,613 1,529 1,876 1,492 1,462 1,381 4,352 Short-term external debt 3,185 3,235 1,519 1,245 1,230 1,322 2,228 1,395 interest arrears on long-term 1 0 0 0 0 0 0 0 Memorandum items 15 0 0 0 0 0 0 0 16,374 23,694 26,995 30,842 29,458 32,281 35,960 39,344 269 1,687 2,738 1,573 978 921 1,167 4,246 2,925 2,257 865 2,872 4,260 3,696 3,668 3,535 External debt flows Disbursements 1,746 3,288 1,838 2,682 2,802 3,385 3,173 6,879 Long-term external debt 1,746 3,086 1,644 2,425 2,802 3,385 3,173 3,678 IMF purchases 0 202 195 256 0 0 0 3,201 Principal repayments 1,071 2,013 1,869 3,524 1,697 1,438 1,506 1,877 Long-term external debt 905 1,837 1,587 2,954 1,460 1,331 1,354 1,698 IMF repurchases 166 176 282 570 237 107 152 180 Net flows 1,089 2,572 -342 -843 1,090 2,040 2,573 4,168 Long-term external debt 841 1,249 57 -529 1,343 2,055 1,820 1,980 Short-term external debt 414 1,297 -311 0 -15 92 906 -833 Interest payments 831 1,203 985 747 727 853 1,095 1,063 Long-term external debt 515 955 857 694 658 789 974 1,012 IMF charges 52 45 49 21 13 11 9 7 Short-term external debt 264 202 78 32 56 54 111 44 2. Other non-debt resource flows Foreign direct investment (net) 245 723 308 1,118 2,201 4,273 5,590 5,438 Portfolio equity flows 0 10 35 49 451 1,152 1,276 -270 Profit remittances on FDI 53 300 429 1,486 1,871 2,580 2,974 3,203 Grants (excluding technical coop.) 324 188 124 305 872 1,038 1,006 987 of which: Debt forgiveness grants .. .. 10 42 0 1 0 0 IDA grants .. .. .. 1 3 3 3 0 Memo: technical coop. grants 318 181 72 129 185 209 149 196 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.1 11.4 11.4 11.1 9.6 Japanese yen 13.6 15.2 16.9 18.8 17.7 16.3 15.6 18.1 Pound sterling 1.5 0.8 0.7 0.4 0.4 0.3 0.3 0.2 Swiss franc 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 U.S.dollars 35.7 31.2 41.5 38.6 42.0 44.3 44.1 43.7 4. Average terms of new commitments Official creditors Interest (%) 5.2 5.0 6.2 1.6 1.7 4.1 3.0 2.3 Maturity (years) 22.9 18.7 12.8 26.8 26.9 21.2 28.8 23.3 Grace period (years) 6.1 5.5 3.1 7.3 8.2 6.1 7.7 6.2 Private creditors Interest (%) 8.8 7.0 8.0 4.4 5.2 5.8 6.7 0.0 Maturity (years) 11.3 4.4 5.3 5.0 5.0 19.1 9.0 0.0 Grace period (years) 4.8 0.9 1.0 5.0 5.0 13.7 8.8 0.0 5. Major economic aggregates Gross national income (GNI) 41,735 61,092 73,025 100,157 111,767 129,829 145,489 172,034 Exports of goods, services & income 8,937 12,112 11,312 20,210 24,045 26,532 29,304 33,791 Worker remit. & comp. of employees 2,006 1,712 1,075 3,945 4,280 5,121 5,998 7,039 Imports of goods & services 11,386 16,311 14,484 24,610 32,453 39,110 42,683 53,192 International reserves 1,046 2,528 2,087 10,718 11,109 12,878 15,798 9,024 Current account balance -1,661 -3,349 -85 -817 -3,606 -6,750 -8,286 -15,402 6. Ratios External debt stocks to exports (%) 231.2 249.6 289.8 175.8 137.9 135.6 139.0 146.0 External debt stocks to GNI (%) 49.5 49.5 44.9 35.5 29.7 27.7 28.0 28.7 Debt service to exports (%) 21.3 26.5 25.2 21.1 10.1 8.6 8.9 8.7 Short-term to external debt stocks (%) 15.4 10.7 4.6 3.5 3.7 3.7 5.5 2.8 Multilateral to external debt stocks (%) 33.4 40.3 41.1 45.8 47.9 48.9 48.9 44.7 Reserves to external debt stocks (%) 5.1 8.4 6.4 30.2 33.5 35.8 38.8 18.3 Reserves to imports (months) 1.1 1.9 1.7 5.2 4.1 4.0 4.4 2.0 214 PAKISTAN 7. Long-term external debt Debt outstanding and disbursed 16,643 25,381 29,733 32,415 30,436 33,202 37,127 43,591 Public and publicly guaranteed 16,506 23,788 27,173 30,878 29,472 32,295 35,974 39,359 Official creditors 15,791 22,691 25,123 30,099 28,211 30,236 33,162 36,548 Multilateral 6,894 12,179 13,480 16,277 15,880 17,602 19,912 22,058 of which: IBRD 1,816 3,082 3,093 2,460 2,238 2,143 2,086 1,946 IDA 2,106 3,321 3,828 6,818 6,865 7,871 9,075 9,053 Bilateral 8,897 10,512 11,643 13,821 12,332 12,635 13,250 14,490 Private creditors 714 1,097 2,051 780 1,261 2,059 2,812 2,811 of which: Bonds 0 150 623 608 1,100 1,900 2,650 2,650 Commercial banks 401 371 1,099 45 30 7 4 0 Private nonguaranteed 138 1,593 2,560 1,537 964 907 1,153 4,232 of which: Bonds 0 45 45 0 600 850 850 850 Disbursements 1,746 3,086 1,644 2,425 2,802 3,385 3,173 3,678 Public and publicly guaranteed 1,708 2,331 1,527 2,045 2,202 3,135 3,173 2,568 Official creditors 1,629 2,199 1,522 1,501 1,578 2,314 2,414 2,566 Multilateral 978 1,167 1,043 1,363 1,523 2,122 2,192 2,173 of which: IBRD 356 271 159 1 217 155 175 54 IDA 135 255 141 781 628 854 1,001 187 Bilateral 651 1,032 479 138 54 192 221 393 Private creditors 78 132 4 544 625 821 760 2 of which: Bonds 0 0 0 500 600 800 750 0 Commercial banks 8 87 0 0 0 0 0 0 Private nonguaranteed 38 755 117 380 600 250 0 1,110 of which: Bonds 0 0 0 0 600 250 0 0 Principal repayments 905 1,837 1,587 2,954 1,460 1,331 1,354 1,698 Public and publicly guaranteed 866 1,497 1,142 2,492 1,133 1,088 1,082 1,241 Official creditors 725 1,267 1,104 2,206 990 1,064 1,075 1,238 Multilateral 307 559 828 1,805 770 823 725 1,041 of which: IBRD 73 219 227 304 312 284 284 297 IDA 19 35 64 105 115 165 134 149 Bilateral 418 708 276 401 220 241 350 197 Private creditors 141 230 37 286 143 23 7 3 of which: Bonds 0 0 0 217 108 0 0 0 Commercial banks 88 138 30 45 15 23 3 3 Private nonguaranteed 39 340 445 462 327 243 272 456 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 515 955 857 694 658 789 974 1,012 Public and publicly guaranteed 505 825 641 619 582 710 842 804 Official creditors 450 759 527 587 531 598 668 615 Multilateral 247 445 383 245 229 256 307 316 of which: IBRD 126 217 182 87 92 107 114 88 IDA 15 24 29 47 52 56 64 77 Bilateral 204 313 144 342 303 342 361 299 Private creditors 54 66 114 32 50 112 174 189 of which: Bonds 0 9 61 27 47 110 171 184 Commercial banks 38 32 38 3 2 3 0 5 Private nonguaranteed 11 130 217 75 76 79 132 208 of which: Bonds 0 2 2 0 3 52 67 60 8. Debt stock-flow reconciliation Total change in external debt stocks 2,315 2,846 -1,109 -205 -2,378 2,829 4,750 8,601 Net flows on external debt 1,089 2,572 -342 -843 1,090 2,040 2,573 4,168 Cross-currency valuation 1,085 108 -1,669 1,085 -3,134 844 1,667 1,968 9. Debt restructurings Total amount rescheduled 0 0 918 0 0 0 0 0 Total amount forgiven 0 0 0 482 0 0 1 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,417 1,384 1,519 1,549 1,607 1,676 1,710 1,719 Interest 731 716 694 671 642 613 580 553 Private creditors Principal 1,805 2,582 368 197 407 136 125 595 Interest 258 184 151 146 132 119 117 97 215 PANAMA 1. Summary external debt data External debt stocks 6,492 6,098 6,573 8,990 9,255 10,394 10,243 10,722 Long-term external debt 3,841 3,781 6,482 8,954 9,232 10,379 10,237 10,722 Public and publicly guaranteed 3,841 3,781 5,702 7,213 7,489 8,685 9,176 9,661 Private nonguaranteed 0 0 780 1,742 1,742 1,694 1,061 1,061 Use of IMF credit 272 111 90 36 24 15 5 0 Short-term external debt 2,378 2,207 1 0 0 0 0 0 interest arrears on long-term 978 1,608 1 0 0 0 0 0 Memorandum items 1,981 1,996 1 0 0 0 0 0 3,841 3,781 5,702 7,213 7,489 8,685 9,176 9,611 0 0 780 1,742 1,742 1,694 1,061 1,111 4 116 478 917 1,265 2,699 362 865 External debt flows Disbursements 6 112 724 1,222 1,595 3,029 679 704 Long-term external debt 6 99 724 1,222 1,595 3,029 679 704 IMF purchases 0 13 0 0 0 0 0 0 Principal repayments 121 172 463 798 1,413 2,226 181 916 Long-term external debt 51 133 411 788 1,403 2,216 171 911 IMF repurchases 70 39 52 10 10 10 10 5 Net flows -115 -925 261 424 181 803 498 -211 Long-term external debt -44 -34 313 434 191 813 508 -206 Short-term external debt 0 -866 0 0 0 0 0 0 Interest payments 223 144 425 586 655 836 731 765 Long-term external debt 90 101 418 585 654 835 730 765 IMF charges 16 7 7 1 1 1 1 0 Short-term external debt 117 36 0 0 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 136 223 624 1,019 918 2,557 1,777 2,402 Portfolio equity flows -1 0 0 0 0 0 0 0 Profit remittances on FDI 196 396 562 967 1,048 1,197 1,521 1,747 Grants (excluding technical coop.) 126 15 9 10 20 22 29 29 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants -16 43 23 31 26 38 16 18 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.0 0.0 0.0 0.0 0.0 Japanese yen 9.8 10.4 1.8 1.2 0.9 0.7 0.6 0.7 Pound sterling 0.7 0.4 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 62.2 70.8 91.8 95.4 96.5 97.4 97.9 98.1 4. Average terms of new commitments Official creditors Interest (%) 5.0 6.9 5.8 3.5 4.7 5.7 3.3 4.2 Maturity (years) 8.3 21.2 22.8 18.9 19.9 17.9 21.6 18.5 Grace period (years) 4.8 4.6 4.6 4.9 5.1 4.0 5.8 4.5 Private creditors Interest (%) 0.0 3.3 10.4 7.5 7.3 4.0 0.0 1.2 Maturity (years) 0.0 14.7 19.0 16.2 22.2 21.4 0.0 11.1 Grace period (years) 0.0 3.1 19.0 16.1 22.2 21.4 0.0 7.8 5. Major economic aggregates Gross national income (GNI) 5,051 7,542 11,007 13,137 14,340 15,839 18,158 21,509 Exports of goods, services & income 5,595 9,271 9,425 9,770 11,786 13,968 16,312 18,226 Worker remit. & comp. of employees 110 112 16 109 130 157 180 196 Imports of goods & services 5,588 9,878 10,258 10,885 12,925 14,598 17,814 21,070 International reserves 344 781 723 631 1,211 1,335 1,935 .. Current account balance 209 -471 -673 -1,003 -1,022 -527 -1,422 -2,792 6. Ratios External debt stocks to exports (%) 116.0 65.8 69.7 92.0 78.5 74.4 62.8 58.8 External debt stocks to GNI (%) 128.5 80.9 59.7 68.4 64.5 65.6 56.4 49.8 Debt service to exports (%) 6.2 3.4 9.4 14.2 17.5 21.9 5.6 9.2 Short-term to external debt stocks (%) 36.6 36.2 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral to external debt stocks (%) 15.5 10.0 15.6 13.1 12.0 11.2 12.0 12.9 Reserves to external debt stocks (%) 5.3 12.8 11.0 7.0 13.1 12.8 18.9 .. Reserves to imports (months) 0.7 0.9 0.8 0.7 1.1 1.1 1.3 .. 216 PANAMA 7. Long-term external debt Debt outstanding and disbursed 3,841 3,781 6,482 8,954 9,232 10,379 10,237 10,722 Public and publicly guaranteed 3,841 3,781 5,702 7,213 7,489 8,685 9,176 9,661 Official creditors 1,489 1,262 1,291 1,392 1,306 1,350 1,409 1,580 Multilateral 1,006 612 1,025 1,178 1,113 1,168 1,226 1,387 of which: IBRD 462 175 283 245 212 185 216 271 IDA 0 0 0 0 0 0 0 0 Bilateral 483 650 265 213 194 182 182 192 Private creditors 2,352 2,519 4,411 5,821 6,183 7,335 7,768 8,081 of which: Bonds 260 3 4,141 5,726 6,105 7,273 7,723 7,896 Commercial banks 1,983 2,475 267 95 78 62 45 186 Private nonguaranteed 0 0 780 1,742 1,742 1,694 1,061 1,061 of which: Bonds 0 0 266 503 635 581 1,061 1,061 Disbursements 6 99 724 1,222 1,595 3,029 679 704 Public and publicly guaranteed 6 99 486 976 1,325 2,461 199 704 Official creditors 6 95 97 113 94 183 199 304 Multilateral 0 93 88 104 91 182 188 291 of which: IBRD 0 3 22 12 9 15 74 99 IDA 0 0 0 0 0 0 0 0 Bilateral 6 2 10 9 3 1 11 13 Private creditors 0 5 388 863 1,231 2,278 0 400 of which: Bonds 0 0 370 850 1,230 2,276 0 235 Commercial banks 0 5 17 13 1 1 0 165 Private nonguaranteed 0 0 238 246 270 569 480 0 of which: Bonds 0 0 0 0 150 300 480 0 Principal repayments 51 133 411 788 1,403 2,216 171 911 Public and publicly guaranteed 51 133 386 567 1,152 1,585 171 911 Official creditors 45 116 109 135 139 145 154 160 Multilateral 43 84 57 123 127 133 140 143 of which: IBRD 41 43 24 37 39 41 43 45 IDA 0 0 0 0 0 0 0 0 Bilateral 2 32 52 12 12 12 14 17 Private creditors 6 17 277 432 1,013 1,439 17 750 of which: Bonds 2 0 120 405 995 1,422 0 742 Commercial banks 1 4 156 27 17 18 17 9 Private nonguaranteed 0 0 25 221 251 632 0 0 of which: Bonds 0 0 0 0 0 369 0 0 Interest payments 90 101 418 585 654 835 730 765 Public and publicly guaranteed 90 101 365 493 566 746 667 702 Official creditors 87 59 79 61 60 63 71 72 Multilateral 85 39 69 55 55 58 66 67 of which: IBRD 27 15 21 13 12 11 13 13 IDA 0 0 0 0 0 0 0 0 Bilateral 2 20 10 5 5 5 5 5 Private creditors 3 42 286 432 507 684 596 630 of which: Bonds 0 0 264 428 503 680 593 625 Commercial banks 0 37 22 4 4 4 3 5 Private nonguaranteed 0 0 53 92 87 88 63 63 of which: Bonds 0 0 24 34 44 46 63 63 8. Debt stock-flow reconciliation Total change in external debt stocks 274 -800 -262 744 265 1,139 -151 479 Net flows on external debt -115 -925 261 424 181 803 498 -211 Cross-currency valuation 74 -52 -42 -43 -100 -56 -7 4 9. Debt restructurings Total amount rescheduled 0 5 0 0 0 0 0 0 Total amount forgiven 0 0 477 16 0 0 0 7 Debt buyback 0 0 120 0 0 203 0 21 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 166 174 171 201 208 188 172 160 Interest 75 73 69 64 58 52 45 40 Private creditors Principal 7 322 336 1,231 1 477 2,316 20 Interest 620 619 593 533 475 474 453 349 Notes: Long-term private nonguaranteed debt data only cover Bonds. Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2006, 2007, and 2008 are $13,259 millions, $19,064 millions, and $16,766 millions respectively. Data for 1996­2002 include debt buybacks. 217 PAPUA NEW GUINEA 1. Summary external debt data External debt stocks 2,594 2,506 2,556 2,286 2,271 2,355 2,215 1,418 Long-term external debt 2,461 2,378 2,468 2,113 2,039 2,188 2,124 1,409 Public and publicly guaranteed 1,523 1,668 1,454 1,445 1,262 1,208 1,126 1,064 Private nonguaranteed 938 711 1,014 668 777 980 998 345 Use of IMF credit 61 50 39 64 0 0 0 0 Short-term external debt 72 78 49 109 232 167 91 9 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 1,501 1,667 1,440 1,445 1,262 1,208 1,126 1,064 960 711 1,027 668 777 980 998 345 247 175 319 23 0 53 37 136 External debt flows Disbursements 681 240 293 109 297 332 297 951 Long-term external debt 623 189 254 109 297 332 297 951 IMF purchases 58 51 38 0 0 0 0 0 Principal repayments 391 509 215 390 317 261 320 932 Long-term external debt 388 493 196 330 256 261 320 932 IMF repurchases 3 16 19 60 61 0 0 0 Net flows 197 -291 30 -283 103 6 -99 -64 Long-term external debt 235 -304 59 -222 41 71 -23 18 Short-term external debt -93 -21 -48 -2 123 -65 -76 -82 Interest payments 162 117 90 86 86 101 104 42 Long-term external debt 156 111 85 79 76 91 98 40 IMF charges 0 1 1 3 1 0 0 0 Short-term external debt 6 5 4 3 9 10 5 2 2. Other non-debt resource flows Foreign direct investment (net) 155 455 96 55 34 -7 96 -30 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 158 409 198 361 475 0 0 0 Grants (excluding technical coop.) 304 269 98 113 138 119 175 215 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 44 89 144 186 160 187 181 195 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.8 3.8 4.2 4.6 4.3 Japanese yen 20.4 21.3 30.1 31.4 29.8 29.0 30.0 29.4 Pound sterling 2.1 0.6 0.8 0.0 0.0 0.0 0.0 0.0 Swiss franc 1.5 0.0 0.0 0.1 0.1 0.1 0.1 0.1 U.S.dollars 27.3 19.4 21.3 28.2 33.8 36.9 36.3 38.6 4. Average terms of new commitments Official creditors Interest (%) 5.7 5.2 6.5 1.7 0.0 4.4 0.8 2.1 Maturity (years) 17.3 10.6 17.3 29.7 0.0 26.1 34.7 28.0 Grace period (years) 4.9 4.4 5.1 7.8 0.0 5.2 10.2 6.7 Private creditors Interest (%) 7.2 0.0 6.2 0.0 0.0 0.0 0.0 0.0 Maturity (years) 9.5 0.0 5.3 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.2 0.0 2.5 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,096 4,370 3,303 3,559 4,552 4,947 5,613 7,385 Exports of goods, services & income 1,487 3,014 2,369 2,786 3,612 .. .. .. Worker remit. & comp. of employees 5 16 7 16 13 13 13 13 Imports of goods & services 1,719 2,415 2,013 2,913 3,257 .. .. .. International reserves 427 267 304 660 750 1,441 2,106 2,008 Current account balance -76 674 351 122 640 .. .. .. 6. Ratios External debt stocks to exports (%) 174.4 83.1 107.9 82.1 62.9 .. .. .. External debt stocks to GNI (%) 83.8 57.3 77.4 64.2 49.9 47.6 39.5 19.2 Debt service to exports (%) 37.2 20.8 12.9 17.1 11.2 .. .. .. Short-term to external debt stocks (%) 2.8 3.1 1.9 4.8 10.2 7.1 4.1 0.6 Multilateral to external debt stocks (%) 29.5 37.4 32.3 39.4 36.8 34.6 33.9 50.8 Reserves to external debt stocks (%) 16.5 10.6 11.9 28.9 33.0 61.2 95.1 141.7 Reserves to imports (months) 3.0 1.3 1.8 2.7 2.8 .. .. .. 218 PAPUA NEW GUINEA 7. Long-term external debt Debt outstanding and disbursed 2,461 2,378 2,468 2,113 2,039 2,188 2,124 1,409 Public and publicly guaranteed 1,523 1,668 1,454 1,445 1,262 1,208 1,126 1,064 Official creditors 1,074 1,441 1,394 1,367 1,210 1,163 1,085 1,020 Multilateral 764 938 826 901 835 815 750 721 of which: IBRD 235 299 244 260 249 246 183 158 IDA 115 108 92 84 78 76 73 71 Bilateral 310 503 567 466 375 348 335 299 Private creditors 449 227 60 78 51 45 42 44 of which: Bonds 37 0 0 0 0 0 0 0 Commercial banks 307 157 54 78 51 45 42 44 Private nonguaranteed 938 711 1,014 668 777 980 998 345 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 623 189 254 109 297 332 297 951 Public and publicly guaranteed 280 135 219 35 45 51 40 26 Official creditors 234 122 206 30 44 48 39 26 Multilateral 180 55 67 29 41 48 39 26 of which: IBRD 64 34 43 9 20 19 12 4 IDA 0 0 0 0 0 0 0 2 Bilateral 54 67 139 1 3 0 0 0 Private creditors 45 13 13 5 1 4 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 20 13 13 5 1 4 0 0 Private nonguaranteed 343 54 35 74 252 281 257 925 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 388 493 196 330 256 261 320 932 Public and publicly guaranteed 184 204 115 134 114 120 172 163 Official creditors 48 82 96 111 93 111 166 157 Multilateral 35 47 53 50 48 83 137 60 of which: IBRD 14 27 29 22 23 24 78 30 IDA 1 2 3 4 4 4 4 4 Bilateral 13 35 44 62 45 28 30 97 Private creditors 136 122 19 23 21 9 6 6 of which: Bonds 0 32 0 0 0 0 0 0 Commercial banks 129 63 10 23 21 9 6 6 Private nonguaranteed 204 289 80 196 142 141 149 769 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 156 111 85 79 76 91 98 40 Public and publicly guaranteed 86 82 54 42 38 38 39 32 Official creditors 40 63 50 38 36 37 38 31 Multilateral 27 44 31 21 22 26 28 20 of which: IBRD 14 22 15 8 10 13 15 9 IDA 1 1 1 1 1 1 1 1 Bilateral 13 19 18 17 14 11 10 11 Private creditors 46 19 5 3 2 1 1 1 of which: Bonds 3 2 0 0 0 0 0 0 Commercial banks 36 9 3 3 2 1 1 1 Private nonguaranteed 70 29 31 38 38 53 59 8 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 278 -287 -89 -178 -15 84 -140 -798 Net flows on external debt 197 -291 30 -283 103 6 -99 -64 Cross-currency valuation 77 -26 -112 45 -120 5 45 30 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 74 79 83 67 71 71 72 73 Interest 25 24 23 21 20 18 16 15 Private creditors Principal 97 87 54 45 35 31 19 19 Interest 42 30 21 15 11 7 4 1 Notes: Long-term private nonguaranteed debt data from 2003 to 2007 has been revised based on reports provided by the country. Data on private nonguaranteed debt for 2008 are World Bank staff estimates. 219 PARAGUAY 1. Summary external debt data External debt stocks 2,105 2,574 3,089 3,607 3,229 3,422 3,570 4,163 Long-term external debt 1,732 1,791 2,510 2,941 2,716 2,711 2,767 3,017 Public and publicly guaranteed 1,713 1,453 2,060 2,430 2,265 2,235 2,195 2,265 Private nonguaranteed 19 338 450 511 450 477 572 751 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 373 784 580 666 513 711 803 1,146 interest arrears on long-term 115 7 11 0 0 0 0 0 Memorandum items 321 60 55 9 8 8 8 8 1,713 1,453 2,060 2,430 2,265 2,235 2,195 2,264 19 338 450 511 450 477 572 752 117 363 125 0 99 608 44 171 External debt flows Disbursements 77 224 192 249 210 244 206 360 Long-term external debt 77 224 192 249 210 244 206 360 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 235 159 205 307 332 269 258 295 Long-term external debt 235 159 205 307 332 269 258 295 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -83 261 -185 80 -275 173 39 408 Long-term external debt -158 65 -13 -58 -122 -25 -53 65 Short-term external debt 75 196 -173 138 -153 198 92 343 Interest payments 90 135 148 170 144 152 166 165 Long-term external debt 77 93 115 152 115 121 135 136 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 13 42 33 18 29 31 30 29 2. Other non-debt resource flows Foreign direct investment (net) 77 103 104 38 54 173 185 320 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 17 62 84 192 158 271 368 396 Grants (excluding technical coop.) 7 36 26 20 21 23 81 86 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 40 64 56 48 45 50 38 45 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.5 2.6 2.6 2.8 2.8 Japanese yen 15.6 22.7 15.0 14.0 13.4 13.7 14.0 18.6 Pound sterling 2.0 0.3 0.1 0.1 0.0 0.0 0.0 0.0 Swiss franc 0.3 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 17.2 28.8 60.1 67.0 68.4 68.8 68.9 66.1 4. Average terms of new commitments Official creditors Interest (%) 3.5 5.5 6.4 0.0 4.5 4.3 5.3 3.7 Maturity (years) 34.4 19.3 21.8 0.0 16.4 27.3 22.3 27.4 Grace period (years) 10.1 5.6 3.0 0.0 4.7 7.7 9.7 6.1 Private creditors Interest (%) 0.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 9.8 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 2.3 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 5,381 8,176 7,094 6,812 7,486 9,790 12,456 16,347 Exports of goods, services & income 2,631 5,210 3,336 3,786 4,375 5,833 7,114 9,507 Worker remit. & comp. of employees 34 287 278 238 269 463 484 503 Imports of goods & services 2,284 5,363 3,524 3,705 4,421 5,795 6,982 9,903 International reserves 675 1,106 772 1,168 1,297 1,702 2,461 2,863 Current account balance 390 -92 -163 143 16 128 165 -345 6. Ratios External debt stocks to exports (%) 80.0 49.4 92.6 95.3 73.8 58.7 50.2 43.8 External debt stocks to GNI (%) 39.1 31.5 43.6 53.0 43.1 35.0 28.7 25.5 Debt service to exports (%) 12.4 5.6 10.6 12.6 10.9 7.2 6.0 4.8 Short-term to external debt stocks (%) 17.7 30.4 18.8 18.5 15.9 20.8 22.5 27.5 Multilateral to external debt stocks (%) 34.8 30.2 36.9 37.4 39.0 37.6 36.3 31.2 Reserves to external debt stocks (%) 32.1 43.0 25.0 32.4 40.2 49.7 69.0 68.8 Reserves to imports (months) 3.5 2.5 2.6 3.8 3.5 3.5 4.2 3.5 220 PARAGUAY 7. Long-term external debt Debt outstanding and disbursed 1,732 1,791 2,510 2,941 2,716 2,711 2,767 3,017 Public and publicly guaranteed 1,713 1,453 2,060 2,430 2,265 2,235 2,195 2,265 Official creditors 1,182 1,320 1,611 1,985 1,845 1,853 1,843 1,942 Multilateral 732 778 1,141 1,351 1,260 1,286 1,297 1,297 of which: IBRD 279 154 201 246 223 234 227 214 IDA 41 36 28 22 21 19 18 16 Bilateral 450 543 471 635 584 567 546 645 Private creditors 531 133 449 445 421 381 352 323 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 258 56 424 419 403 374 345 316 Private nonguaranteed 19 338 450 511 450 477 572 751 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 77 224 192 249 210 244 206 360 Public and publicly guaranteed 77 216 192 139 144 154 111 181 Official creditors 50 204 192 135 141 154 111 181 Multilateral 31 129 166 95 75 111 101 109 of which: IBRD 16 26 47 17 17 32 13 9 IDA 0 0 0 0 0 0 0 0 Bilateral 19 75 26 39 66 44 10 71 Private creditors 27 11 0 5 3 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 11 0 1 3 0 0 0 Private nonguaranteed 0 8 0 110 66 90 95 180 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 235 159 205 307 332 269 258 295 Public and publicly guaranteed 226 157 112 214 206 209 206 236 Official creditors 198 123 105 201 176 169 177 207 Multilateral 62 76 61 128 108 105 127 139 of which: IBRD 40 41 19 33 25 26 27 30 IDA 1 1 1 1 1 1 1 1 Bilateral 137 47 43 74 68 65 50 68 Private creditors 27 34 7 13 29 40 29 29 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 10 10 4 7 18 30 29 29 Private nonguaranteed 9 2 93 93 126 60 52 59 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 77 93 115 152 115 121 135 136 Public and publicly guaranteed 77 87 99 125 94 97 104 96 Official creditors 57 71 69 105 77 75 80 78 Multilateral 47 41 51 64 53 53 57 57 of which: IBRD 25 15 11 14 10 12 13 13 IDA 0 0 0 0 0 0 0 0 Bilateral 10 30 18 41 24 22 23 21 Private creditors 20 16 30 20 17 22 24 18 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 2 29 13 16 21 24 18 Private nonguaranteed 0 6 16 28 21 24 31 40 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -277 469 -294 382 -379 194 147 593 Net flows on external debt -83 261 -185 80 -275 173 39 408 Cross-currency valuation 778 -28 -97 49 -92 19 45 109 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 340 0 0 0 0 0 0 2 Debt buyback 111 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 238 238 223 208 178 158 169 169 Interest 78 72 65 58 51 45 40 35 Private creditors Principal 234 173 157 103 88 73 66 58 Interest 48 36 27 20 16 12 8 6 221 PERU 1. Summary external debt data External debt stocks 20,044 30,833 28,644 31,568 28,953 28,491 28,884 28,555 Long-term external debt 13,959 20,219 24,157 28,694 25,686 25,460 23,078 22,408 Public and publicly guaranteed 13,629 18,931 19,219 24,684 22,516 22,142 19,791 19,330 Private nonguaranteed 330 1,288 4,938 4,009 3,170 3,318 3,286 3,078 Use of IMF credit 755 955 558 104 57 20 0 0 Short-term external debt 5,330 9,659 3,928 2,771 3,210 3,011 5,806 6,147 interest arrears on long-term 3,713 4,584 14 24 2 16 16 0 Memorandum items 8,345 4,150 29 30 1 33 7 0 13,584 18,925 17,948 23,700 21,618 21,322 18,980 18,625 376 1,294 6,209 4,993 4,067 4,138 4,098 3,783 179 930 1,263 2,488 2,191 704 3,128 1,343 External debt flows Disbursements 289 880 2,066 2,671 2,769 1,668 6,172 1,529 Long-term external debt 289 880 2,066 2,671 2,769 1,668 6,172 1,529 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 229 521 1,138 1,312 4,034 2,062 6,504 3,210 Long-term external debt 166 521 997 1,272 3,994 2,022 6,483 3,210 IMF repurchases 63 0 141 40 40 39 20 0 Net flows 126 3,148 290 1,603 -804 -607 2,464 -1,325 Long-term external debt 123 359 1,069 1,398 -1,225 -354 -311 -1,681 Short-term external debt 66 2,789 -638 245 461 -213 2,795 357 Interest payments 247 721 1,433 1,474 1,722 1,702 2,148 1,713 Long-term external debt 91 485 1,173 1,400 1,602 1,553 1,972 1,534 IMF charges 74 52 33 3 3 2 0 0 Short-term external debt 82 184 227 71 118 146 176 179 2. Other non-debt resource flows Foreign direct investment (net) 41 2,557 810 1,599 2,579 3,467 5,343 4,079 Portfolio equity flows 0 171 123 -47 769 182 814 180 Profit remittances on FDI 15 834 344 2,567 4,030 6,741 7,865 7,687 Grants (excluding technical coop.) 180 279 159 190 248 207 366 333 of which: Debt forgiveness grants .. .. 1 25 76 0 10 11 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 127 127 151 279 285 315 122 182 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.9 7.0 7.7 8.2 11.1 Japanese yen 6.3 14.6 13.8 13.0 9.1 8.9 10.2 13.6 Pound sterling 0.9 1.2 0.4 0.3 0.1 0.1 0.0 0.0 Swiss franc 1.5 1.2 0.5 0.2 0.1 0.0 0.0 0.0 U.S.dollars 48.0 41.9 73.7 72.9 80.4 80.2 78.7 72.6 4. Average terms of new commitments Official creditors Interest (%) 7.1 6.2 5.8 3.6 5.0 5.2 5.5 3.4 Maturity (years) 9.2 17.4 22.1 16.0 16.4 17.2 15.8 18.7 Grace period (years) 2.4 4.6 5.0 4.7 7.0 6.5 5.2 7.1 Private creditors Interest (%) 5.5 0.0 9.0 7.8 7.7 0.0 7.5 0.0 Maturity (years) 6.7 0.0 5.0 10.8 22.0 0.0 21.8 0.0 Grace period (years) 1.3 0.0 0.1 10.8 22.0 0.0 20.6 0.0 5. Major economic aggregates Gross national income (GNI) 25,509 51,140 51,878 66,037 74,308 84,739 98,918 119,480 Exports of goods, services & income 4,402 7,796 9,965 16,267 21,722 29,318 34,996 39,417 Worker remit. & comp. of employees 87 599 718 1,133 1,440 1,837 2,131 2,437 Imports of goods & services 6,015 12,653 11,794 16,547 20,906 26,911 33,855 43,962 International reserves 1,891 8,653 8,676 12,665 14,171 17,442 27,786 31,241 Current account balance -1,419 -4,625 -1,546 19 1,148 2,755 1,505 -4,180 6. Ratios External debt stocks to exports (%) 455.3 395.5 287.4 194.1 133.3 97.2 82.5 72.4 External debt stocks to GNI (%) 78.6 60.3 55.2 47.8 39.0 33.6 29.2 23.9 Debt service to exports (%) 10.8 15.9 25.8 17.1 26.5 12.8 24.7 12.5 Short-term to external debt stocks (%) 26.6 31.3 13.7 8.8 11.1 10.6 20.1 21.5 Multilateral to external debt stocks (%) 11.0 12.1 19.3 24.5 27.3 27.4 27.3 27.8 Reserves to external debt stocks (%) 9.4 28.1 30.3 40.1 48.9 61.2 96.2 109.4 Reserves to imports (months) 3.8 8.2 8.8 9.2 8.1 7.8 9.8 8.5 222 PERU 7. Long-term external debt Debt outstanding and disbursed 13,959 20,219 24,157 28,694 25,686 25,460 23,078 22,408 Public and publicly guaranteed 13,629 18,931 19,219 24,684 22,516 22,142 19,791 19,330 Official creditors 6,594 15,229 14,389 17,410 13,810 13,461 11,253 12,275 Multilateral 2,199 3,716 5,532 7,744 7,900 7,802 7,894 7,939 of which: IBRD 1,188 1,729 2,590 2,834 2,816 2,633 2,649 2,712 IDA 0 0 0 0 0 0 0 0 Bilateral 4,395 11,513 8,857 9,666 5,910 5,658 3,360 4,336 Private creditors 7,035 3,702 4,830 7,275 8,706 8,682 8,538 7,055 of which: Bonds 1 0 3,727 6,949 8,390 8,390 8,270 6,879 Commercial banks 3,159 3,040 110 82 86 77 68 170 Private nonguaranteed 330 1,288 4,938 4,009 3,170 3,318 3,286 3,078 of which: Bonds 0 60 150 91 218 192 1,419 1,269 Disbursements 289 880 2,066 2,671 2,769 1,668 6,172 1,529 Public and publicly guaranteed 289 725 1,489 2,542 2,636 616 3,280 1,145 Official creditors 187 720 1,455 1,234 986 616 1,161 1,145 Multilateral 38 631 813 1,049 799 487 1,018 971 of which: IBRD 0 202 266 234 192 36 256 294 IDA 0 0 0 0 0 0 0 0 Bilateral 149 89 641 185 187 129 142 174 Private creditors 103 5 35 1,308 1,650 0 2,119 0 of which: Bonds 0 0 0 1,308 1,650 0 2,119 0 Commercial banks 69 0 34 0 0 0 0 0 Private nonguaranteed 0 155 577 128 133 1,052 2,893 384 of which: Bonds 0 0 0 0 127 0 1,227 0 Principal repayments 166 521 997 1,272 3,994 2,022 6,483 3,210 Public and publicly guaranteed 112 481 979 1,202 3,032 1,145 5,864 2,617 Official creditors 81 404 834 1,109 2,918 1,031 3,498 1,255 Multilateral 24 201 497 530 557 605 951 959 of which: IBRD 0 86 93 189 210 219 241 230 IDA 0 0 0 0 0 0 0 0 Bilateral 57 203 337 578 2,360 426 2,547 296 Private creditors 31 77 146 93 114 113 2,366 1,363 of which: Bonds 0 0 0 67 90 90 2,343 1,338 Commercial banks 9 28 130 9 11 9 9 23 Private nonguaranteed 54 40 17 71 962 878 619 593 of which: Bonds 0 0 0 0 0 0 0 150 Interest payments 91 485 1,173 1,400 1,602 1,553 1,972 1,534 Public and publicly guaranteed 66 413 1,104 1,242 1,403 1,387 1,508 1,180 Official creditors 51 395 916 782 807 723 814 567 Multilateral 27 245 383 300 354 433 479 405 of which: IBRD 0 118 189 92 105 137 150 136 IDA 0 0 0 0 0 0 0 0 Bilateral 24 150 533 482 453 290 334 163 Private creditors 15 19 188 459 596 665 694 613 of which: Bonds 0 0 179 429 568 637 669 603 Commercial banks 8 10 5 8 7 8 7 10 Private nonguaranteed 25 71 69 158 198 166 464 354 of which: Bonds 0 6 11 7 10 10 42 230 8. Debt stock-flow reconciliation Total change in external debt stocks 1,479 4,323 -515 1,573 -2,615 -462 393 -329 Net flows on external debt 126 3,148 290 1,603 -804 -607 2,464 -1,325 Cross-currency valuation 642 267 -515 264 -802 211 329 378 9. Debt restructurings Total amount rescheduled 0 919 1 0 21 0 0 0 Total amount forgiven 0 0 0 18 66 27 61 56 Debt buyback 0 0 0 0 0 0 2,343 838 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,133 1,156 1,153 1,323 1,243 1,113 1,025 956 Interest 506 460 407 352 296 246 203 166 Private creditors Principal 370 259 261 690 208 1,190 941 1,484 Interest 893 873 859 828 798 770 646 530 Notes: Data on long-term private nonguaranteed debt for 2008 are World Bank staff estimates. Data for 2007 include Bond prepayment and prepayment to Paris Club creditors. Short-term debt is based on reports provided by the country. 223 PHILIPPINES 1. Summary external debt data External debt stocks 30,580 39,379 58,304 60,968 61,658 60,282 65,910 64,856 Long-term external debt 25,241 33,372 50,777 55,165 54,874 55,273 58,826 57,855 Public and publicly guaranteed 24,040 28,525 33,744 35,981 35,364 36,751 37,959 39,058 Private nonguaranteed 1,201 4,847 17,033 19,184 19,510 18,522 20,867 18,797 Use of IMF credit 912 728 2,032 756 389 0 0 0 Short-term external debt 4,427 5,279 5,495 5,046 6,395 5,009 7,084 7,001 interest arrears on long-term 52 0 0 0 0 0 0 0 Memorandum items 182 0 1 0 1 2 0 1 23,667 28,369 33,674 35,904 35,295 36,685 37,894 38,982 1,573 5,003 17,103 19,262 19,579 18,588 20,932 18,873 3,520 2,594 5,353 6,687 3,775 1,885 2,544 2,717 External debt flows Disbursements 2,516 2,840 6,060 8,027 6,525 8,772 8,876 5,152 Long-term external debt 2,516 2,840 5,747 8,027 6,525 8,772 8,876 5,152 IMF purchases 0 0 313 0 0 0 0 0 Principal repayments 1,818 3,099 4,055 7,712 6,403 9,800 6,340 8,216 Long-term external debt 1,473 2,737 4,047 7,240 6,085 9,399 6,340 8,216 IMF repurchases 345 363 8 473 317 400 0 0 Net flows 1,123 -696 2,551 -818 1,472 -2,414 4,611 -3,147 Long-term external debt 1,043 104 1,700 788 440 -628 2,536 -3,064 Short-term external debt 425 -437 546 -1,133 1,349 -1,386 2,075 -83 Interest payments 1,772 2,264 3,004 3,765 3,559 3,899 3,796 3,978 Long-term external debt 1,573 1,859 2,469 3,540 3,254 3,521 3,450 3,694 IMF charges 99 55 94 25 20 15 2 0 Short-term external debt 100 351 442 200 286 363 345 284 2. Other non-debt resource flows Foreign direct investment (net) 530 1,478 2,240 688 1,854 2,921 2,916 1,403 Portfolio equity flows 0 0 -202 518 1,465 2,525 3,178 -1,289 Profit remittances on FDI 311 515 230 1,373 1,391 2,015 2,133 1,668 Grants (excluding technical coop.) 362 277 155 170 158 147 309 271 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 243 381 224 229 239 253 174 177 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.8 5.5 5.8 5.9 5.1 Japanese yen 31.0 39.2 38.2 40.2 34.7 32.6 33.3 38.5 Pound sterling 1.0 0.2 0.1 0.1 0.1 0.1 0.0 0.0 Swiss franc 0.5 0.3 0.1 0.3 0.2 0.2 0.2 0.1 U.S.dollars 36.2 27.3 42.2 41.6 49.5 52.9 52.7 49.6 4. Average terms of new commitments Official creditors Interest (%) 5.1 4.3 3.3 2.8 3.1 5.3 4.4 2.7 Maturity (years) 24.4 26.7 28.1 21.9 19.8 17.2 21.1 22.2 Grace period (years) 7.3 7.8 7.3 6.6 5.4 5.1 6.5 6.5 Private creditors Interest (%) 9.2 7.1 8.3 7.2 7.6 9.2 6.4 4.6 Maturity (years) 15.1 11.0 11.4 8.6 10.8 15.3 24.6 16.5 Grace period (years) 7.6 10.2 10.8 8.2 10.2 15.2 24.5 12.2 5. Major economic aggregates Gross national income (GNI) 44,073 76,166 80,695 93,649 106,940 127,296 156,610 185,505 Exports of goods, services & income 13,290 33,294 49,221 55,179 59,393 69,839 77,884 78,906 Worker remit. & comp. of employees 1,465 5,360 6,212 11,471 13,566 15,251 16,302 18,643 Imports of goods & services 16,437 35,722 51,928 54,089 58,132 65,208 71,663 75,367 International reserves 2,036 7,781 15,074 16,234 18,474 22,963 33,740 37,498 Current account balance -2,695 -1,980 -2,225 1,633 1,984 5,347 7,119 4,227 6. Ratios External debt stocks to exports (%) 230.1 118.3 118.5 110.5 103.8 86.3 84.6 82.2 External debt stocks to GNI (%) 69.4 51.7 72.3 65.1 57.7 47.4 42.1 35.0 Debt service to exports (%) 27.0 16.1 14.3 20.8 16.8 19.6 13.0 15.5 Short-term to external debt stocks (%) 14.5 13.4 9.4 8.3 10.4 8.3 10.7 10.8 Multilateral to external debt stocks (%) 20.5 21.6 12.4 12.0 10.7 11.4 11.0 11.4 Reserves to external debt stocks (%) 6.7 19.8 25.9 26.6 30.0 38.1 51.2 57.8 Reserves to imports (months) 1.5 2.6 3.5 3.6 3.8 4.2 5.6 6.0 224 PHILIPPINES 7. Long-term external debt Debt outstanding and disbursed 25,241 33,372 50,777 55,165 54,874 55,273 58,826 57,855 Public and publicly guaranteed 24,040 28,525 33,744 35,981 35,364 36,751 37,959 39,058 Official creditors 15,301 22,626 19,890 21,108 18,580 18,623 19,586 21,605 Multilateral 6,273 8,490 7,207 7,297 6,620 6,874 7,219 7,414 of which: IBRD 3,943 5,002 3,627 3,317 2,885 2,690 2,726 2,533 IDA 101 183 207 214 197 196 195 187 Bilateral 9,029 14,137 12,683 13,810 11,960 11,749 12,367 14,191 Private creditors 8,739 5,899 13,855 14,874 16,784 18,128 18,373 17,454 of which: Bonds 825 4,666 10,466 12,149 14,290 16,256 16,774 16,014 Commercial banks 6,660 416 2,482 1,558 1,413 813 636 649 Private nonguaranteed 1,201 4,847 17,033 19,184 19,510 18,522 20,867 18,797 of which: Bonds 0 1,925 2,856 3,465 2,975 2,476 1,993 1,314 Disbursements 2,516 2,840 5,747 8,027 6,525 8,772 8,876 5,152 Public and publicly guaranteed 2,224 1,816 5,228 6,333 3,874 7,748 2,767 2,108 Official creditors 1,373 1,413 1,528 1,227 1,144 1,905 1,655 1,446 Multilateral 854 621 386 325 381 974 808 860 of which: IBRD 506 393 152 145 129 132 372 192 IDA 0 10 10 0 0 0 0 0 Bilateral 519 792 1,142 902 763 931 847 586 Private creditors 852 403 3,701 5,105 2,730 5,843 1,112 662 of which: Bonds 575 278 2,630 4,405 2,384 5,626 1,048 576 Commercial banks 167 102 997 599 221 165 36 86 Private nonguaranteed 291 1,024 519 1,695 2,651 1,024 6,109 3,044 of which: Bonds 0 864 5 283 250 0 0 0 Principal repayments 1,473 2,737 4,047 7,240 6,085 9,399 6,340 8,216 Public and publicly guaranteed 1,411 2,587 2,515 4,600 3,353 5,742 2,547 3,590 Official creditors 439 2,204 1,572 1,749 1,788 1,921 1,667 2,320 Multilateral 388 651 562 606 644 790 625 972 of which: IBRD 301 413 349 372 376 383 403 471 IDA 1 2 3 7 7 7 7 7 Bilateral 51 1,553 1,009 1,143 1,143 1,131 1,041 1,347 Private creditors 972 383 943 2,851 1,566 3,820 881 1,270 of which: Bonds 180 32 395 2,187 1,209 2,911 462 844 Commercial banks 743 76 474 568 265 831 252 94 Private nonguaranteed 62 150 1,533 2,640 2,732 3,658 3,792 4,627 of which: Bonds 0 0 445 679 333 604 558 572 Interest payments 1,573 1,859 2,469 3,540 3,254 3,521 3,450 3,694 Public and publicly guaranteed 1,486 1,707 1,882 2,246 2,409 2,736 2,527 2,862 Official creditors 749 1,320 841 621 584 583 614 609 Multilateral 444 604 414 262 258 280 333 310 of which: IBRD 296 376 223 122 124 141 160 143 IDA 1 1 2 2 2 1 1 1 Bilateral 305 716 427 359 326 303 280 299 Private creditors 737 387 1,041 1,625 1,825 2,153 1,913 2,253 of which: Bonds 31 287 880 1,549 1,725 2,033 1,841 2,198 Commercial banks 671 34 130 48 70 92 34 27 Private nonguaranteed 87 152 586 1,294 845 785 923 832 of which: Bonds 0 82 479 326 283 255 140 103 8. Debt stock-flow reconciliation Total change in external debt stocks 1,927 -878 -17 -1,622 690 -1,376 5,628 -1,053 Net flows on external debt 1,123 -696 2,551 -818 1,472 -2,414 4,611 -3,147 Cross-currency valuation 1,542 -250 -2,207 767 -2,504 185 920 3,235 9. Debt restructurings Total amount rescheduled 1,068 0 0 0 0 0 0 0 Total amount forgiven 1,082 0 0 0 0 0 0 0 Debt buyback 721 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,938 1,936 1,923 1,846 1,725 1,517 1,448 1,386 Interest 594 544 491 440 392 349 313 279 Private creditors Principal 2,756 3,826 3,299 1,814 2,280 2,624 2,268 3,904 Interest 1,862 1,711 1,500 1,334 1,247 1,134 1,032 995 Notes: Long-term private nonguaranteed debt includes the following monitored aggregate private-sector debt: unregistered debt, intercompany debt and capital leases. Short-term debt is based on reports provided by the country. 225 POLAND 1. Summary external debt data External debt stocks 49,364 44,080 64,834 105,318 108,172 139,033 195,375 218,022 Long-term external debt 39,261 41,902 55,166 80,486 81,118 104,476 135,009 153,118 Public and publicly guaranteed 39,261 40,890 29,775 34,738 35,094 39,248 43,598 43,426 Private nonguaranteed 0 1,012 25,390 45,748 46,024 65,228 91,412 109,692 Use of IMF credit 509 0 0 0 0 0 0 0 Short-term external debt 9,595 2,178 9,668 24,832 27,054 34,558 60,366 64,904 interest arrears on long-term 8,315 136 118 0 0 0 0 0 Memorandum items 5,670 624 3 0 0 0 0 0 39,259 40,887 29,774 34,738 35,094 39,248 43,598 43,426 2 1,015 25,392 45,748 46,024 65,228 91,412 109,692 1,673 558 753 4,164 11,763 4,767 3,499 5,341 External debt flows Disbursements 1,025 1,279 10,174 31,884 37,421 47,290 56,763 73,378 Long-term external debt 540 1,279 10,174 31,884 37,421 47,290 56,763 73,378 IMF purchases 485 0 0 0 0 0 0 0 Principal repayments 635 2,279 7,668 31,320 30,835 32,244 41,439 47,732 Long-term external debt 635 885 7,668 31,320 30,835 32,244 41,439 47,732 IMF repurchases 0 1,394 0 0 0 0 0 0 Net flows 423 335 841 5,798 8,808 22,550 41,133 30,184 Long-term external debt -95 394 2,506 563 6,586 15,047 15,324 25,646 Short-term external debt 33 1,335 -1,665 5,234 2,222 7,503 25,808 4,538 Interest payments 332 1,858 2,488 3,495 3,903 4,238 6,530 9,456 Long-term external debt 203 1,710 2,153 2,750 2,662 3,092 4,291 6,990 IMF charges 23 47 0 0 0 0 0 0 Short-term external debt 105 102 336 745 1,241 1,146 2,239 2,466 2. Other non-debt resource flows Foreign direct investment (net) 89 3,659 9,343 12,716 10,309 19,876 22,959 16,974 Portfolio equity flows 0 219 447 1,660 1,333 -2,128 -453 559 Profit remittances on FDI 20 1,048 700 9,562 9,283 13,217 18,603 17,937 Grants (excluding technical coop.) 26 3,408 671 1,422 0 0 0 0 of which: Debt forgiveness grants .. .. 307 292 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 0 334 110 119 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 59.0 61.6 66.5 68.0 66.1 Japanese yen 2.9 3.6 4.6 6.0 7.8 8.3 8.3 10.5 Pound sterling 3.8 2.5 3.1 4.9 2.0 2.0 1.8 1.3 Swiss franc 9.2 1.9 2.3 3.1 5.3 5.0 6.9 9.3 U.S.dollars 32.2 45.7 46.1 23.1 20.7 16.4 13.8 12.4 4. Average terms of new commitments Official creditors Interest (%) 7.2 0.0 7.1 2.6 2.6 4.2 4.8 4.8 Maturity (years) 17.8 0.0 14.5 11.0 13.5 14.8 14.5 29.6 Grace period (years) 5.6 0.0 5.2 9.2 6.3 5.3 5.0 5.1 Private creditors Interest (%) 8.5 7.8 6.0 3.5 3.8 3.4 4.0 4.9 Maturity (years) 7.4 2.9 10.0 7.6 16.2 11.2 16.2 10.2 Grace period (years) 3.6 2.9 10.0 7.6 16.1 11.2 16.2 10.2 5. Major economic aggregates Gross national income (GNI) 55,620 137,100 169,844 244,763 297,303 332,190 411,971 517,406 Exports of goods, services & income 19,640 37,501 49,854 101,762 121,473 150,055 188,408 228,475 Worker remit. & comp. of employees .. 724 1,726 4,728 6,482 8,496 10,496 10,727 Imports of goods & services 19,084 36,909 60,913 114,425 128,376 163,098 212,759 260,909 International reserves 4,674 14,957 27,469 36,773 42,561 48,474 65,725 62,184 Current account balance 3,067 854 -10,343 -10,067 -3,716 -9,394 -20,100 -28,921 6. Ratios External debt stocks to exports (%) 251.3 117.5 130.0 103.5 89.1 92.7 103.7 95.4 External debt stocks to GNI (%) 88.8 32.2 38.2 43.0 36.4 41.9 47.4 42.1 Debt service to exports (%) 4.9 11.0 20.4 34.2 28.6 24.3 25.5 25.0 Short-term to external debt stocks (%) 19.4 4.9 14.9 23.6 25.0 24.9 30.9 29.8 Multilateral to external debt stocks (%) 1.1 4.7 3.4 1.8 1.7 1.4 1.0 0.8 Reserves to external debt stocks (%) 9.5 33.9 42.4 34.9 39.3 34.9 33.6 28.5 Reserves to imports (months) 2.9 4.9 5.4 3.9 4.0 3.6 3.7 2.9 226 POLAND 7. Long-term external debt Debt outstanding and disbursed 39,261 41,902 55,166 80,486 81,118 104,476 135,009 153,118 Public and publicly guaranteed 39,261 40,890 29,775 34,738 35,094 39,248 43,598 43,426 Official creditors 27,919 32,169 23,567 18,560 9,441 8,093 6,186 2,898 Multilateral 524 2,067 2,229 1,912 1,796 1,961 1,870 1,776 of which: IBRD 55 2,067 2,229 1,912 1,796 1,961 1,870 1,776 IDA 0 0 0 0 0 0 0 0 Bilateral 27,395 30,102 21,338 16,648 7,645 6,132 4,317 1,121 Private creditors 11,342 8,721 6,209 16,178 25,653 31,155 37,411 40,529 of which: Bonds 1 7,990 5,740 16,178 25,653 31,155 37,411 40,529 Commercial banks 9,759 556 456 0 0 0 0 0 Private nonguaranteed 0 1,012 25,390 45,748 46,024 65,228 91,412 109,692 of which: Bonds 0 0 3,462 1,954 1,622 3,237 3,155 1,960 Disbursements 540 1,279 10,174 31,884 37,421 47,290 56,763 73,378 Public and publicly guaranteed 540 856 906 4,260 12,124 5,133 3,524 4,182 Official creditors 70 248 350 522 492 635 209 91 Multilateral 56 210 349 399 253 196 3 91 of which: IBRD 54 210 349 399 253 196 3 91 IDA 0 0 0 0 0 0 0 0 Bilateral 14 38 0 123 239 439 207 0 Private creditors 470 608 557 3,738 11,633 4,498 3,315 4,091 of which: Bonds 0 250 554 3,738 11,633 4,498 3,315 4,091 Commercial banks 300 353 2 0 0 0 0 0 Private nonguaranteed 0 423 9,268 27,623 25,297 42,158 53,239 69,196 of which: Bonds 0 0 809 365 0 0 221 0 Principal repayments 635 885 7,668 31,320 30,835 32,244 41,439 47,732 Public and publicly guaranteed 635 611 2,272 3,629 8,006 3,827 2,806 3,568 Official creditors 147 332 799 3,329 8,006 2,611 2,743 3,366 Multilateral 46 158 199 1,076 174 180 261 165 of which: IBRD 0 19 199 1,076 174 180 261 165 IDA 0 0 0 0 0 0 0 0 Bilateral 101 173 600 2,253 7,832 2,430 2,482 3,202 Private creditors 488 279 1,473 300 0 1,216 63 201 of which: Bonds 0 0 1,224 300 0 1,216 63 201 Commercial banks 400 192 235 0 0 0 0 0 Private nonguaranteed 0 275 5,396 27,691 22,829 28,417 38,633 44,164 of which: Bonds 0 0 0 335 249 246 651 1,078 Interest payments 203 1,710 2,153 2,750 2,662 3,092 4,291 6,990 Public and publicly guaranteed 203 1,654 1,067 982 993 1,305 1,495 1,759 Official creditors 113 1,215 653 466 273 159 133 126 Multilateral 31 148 122 91 50 64 89 96 of which: IBRD 1 133 122 91 50 64 89 96 IDA 0 0 0 0 0 0 0 0 Bilateral 82 1,067 531 375 222 95 44 31 Private creditors 90 439 414 516 720 1,146 1,362 1,632 of which: Bonds 0 378 380 516 720 1,146 1,362 1,632 Commercial banks 74 47 34 0 0 0 0 0 Private nonguaranteed 0 56 1,086 1,768 1,669 1,787 2,795 5,231 of which: Bonds 0 0 193 116 127 236 235 202 8. Debt stock-flow reconciliation Total change in external debt stocks 6,279 1,590 -139 11,470 2,854 30,861 56,342 22,647 Net flows on external debt 423 335 841 5,798 8,808 22,550 41,133 30,184 Cross-currency valuation 2,795 1,404 -1,216 1,623 -3,215 2,691 3,596 -783 9. Debt restructurings Total amount rescheduled 3,559 0 0 0 0 0 0 0 Total amount forgiven 578 0 0 0 83 0 0 15 Debt buyback 0 0 943 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,086 185 386 263 205 539 117 91 Interest 77 62 55 46 39 23 16 12 Private creditors Principal 21,765 18,298 16,294 14,114 12,838 5,737 5,535 7,889 Interest 4,609 4,204 3,566 3,079 2,495 1,936 1,879 1,517 Notes: Short-term debt is based on Central Bank data. 227 ROMANIA 1. Summary external debt data External debt stocks 1,140 6,832 11,160 29,574 38,861 53,939 84,033 104,943 Long-term external debt 230 4,491 9,945 24,751 31,187 37,265 54,837 73,827 Public and publicly guaranteed 223 3,957 6,583 13,662 13,330 14,185 15,200 14,988 Private nonguaranteed 7 534 3,362 11,089 17,858 23,081 39,636 58,839 Use of IMF credit 0 1,038 453 443 261 104 0 0 Short-term external debt 910 1,303 763 4,379 7,413 16,570 29,197 31,116 interest arrears on long-term 0 0 12 12 13 10 10 2 Memorandum items 0 0 16 40 37 260 256 238 223 3,899 6,440 13,249 12,962 13,820 14,834 14,743 7 592 3,505 11,502 18,225 23,445 40,003 59,084 132 1,641 2,864 3,350 3,072 2,515 995 3,267 External debt flows Disbursements 26 1,513 3,258 7,841 12,918 11,226 20,884 32,513 Long-term external debt 26 1,455 3,144 7,841 12,918 11,226 20,884 32,513 IMF purchases 0 57 114 0 0 0 0 0 Principal repayments 4 675 1,801 3,573 5,331 6,472 8,325 14,427 Long-term external debt 4 302 1,705 3,402 5,179 6,304 8,219 14,427 IMF repurchases 0 373 96 171 152 167 105 0 Net flows 44 1,174 1,843 6,140 10,619 13,916 25,186 20,012 Long-term external debt 22 1,153 1,439 4,439 7,739 4,922 12,665 18,086 Short-term external debt 22 337 386 1,871 3,032 9,161 12,627 1,927 Interest payments 14 321 698 1,142 1,587 2,176 3,240 4,110 Long-term external debt 0 206 632 1,006 1,248 1,404 1,956 2,904 IMF charges 0 69 24 14 13 10 3 0 Short-term external debt 14 47 42 122 326 762 1,280 1,206 2. Other non-debt resource flows Foreign direct investment (net) 0 419 1,037 6,517 6,482 11,393 9,924 13,328 Portfolio equity flows 0 0 58 111 229 301 746 23 Profit remittances on FDI 0 28 72 2,594 2,926 4,164 5,990 6,940 Grants (excluding technical coop.) 2 35 191 743 0 0 0 0 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 2 152 109 148 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 58.6 58.9 64.0 69.3 71.9 Japanese yen 0.0 2.7 5.3 2.4 3.2 3.5 3.4 4.5 Pound sterling 0.0 0.0 0.0 1.0 1.3 1.1 0.7 0.3 Swiss franc 89.5 1.8 0.9 0.8 0.7 0.6 0.5 0.4 U.S.dollars 9.8 34.4 42.5 27.2 26.9 22.8 18.9 17.3 4. Average terms of new commitments Official creditors Interest (%) 2.7 6.0 5.9 5.8 2.2 3.6 4.6 4.0 Maturity (years) 25.5 13.3 17.1 12.7 22.3 19.0 20.0 14.1 Grace period (years) 10.0 4.3 4.2 5.1 6.2 5.3 5.9 12.9 Private creditors Interest (%) 8.4 6.9 9.1 3.0 3.8 4.1 5.2 6.5 Maturity (years) 8.2 7.2 5.8 8.8 10.0 11.9 10.9 10.7 Grace period (years) 3.6 2.7 2.5 3.3 7.8 3.8 3.2 9.3 5. Major economic aggregates Gross national income (GNI) 38,159 35,236 36,768 73,910 98,008 119,825 165,781 191,986 Exports of goods, services & income 6,555 9,489 12,440 27,550 38,100 47,053 60,179 73,397 Worker remit. & comp. of employees .. 9 96 132 4,733 6,718 8,539 9,380 Imports of goods & services 9,915 11,628 14,653 37,611 47,298 60,454 82,987 99,428 International reserves 1,374 2,624 3,396 16,095 21,601 30,206 39,974 39,768 Current account balance -3,254 -1,774 -1,355 -6,382 -8,504 -12,785 -23,032 -24,685 6. Ratios External debt stocks to exports (%) 17.4 72.0 89.7 107.3 102.0 114.6 139.6 143.0 External debt stocks to GNI (%) 3.0 19.4 30.4 40.0 39.7 45.0 50.7 54.7 Debt service to exports (%) 0.3 10.5 20.1 17.1 18.2 18.4 19.2 25.3 Short-term to external debt stocks (%) 79.8 19.1 6.8 14.8 19.1 30.7 34.7 29.7 Multilateral to external debt stocks (%) 0.0 24.7 30.1 18.9 14.4 11.3 8.0 7.0 Reserves to external debt stocks (%) 120.5 38.4 30.4 54.4 55.6 56.0 47.6 37.9 Reserves to imports (months) 1.7 2.7 2.8 5.1 5.5 6.0 5.8 4.8 228 ROMANIA 7. Long-term external debt Debt outstanding and disbursed 230 4,491 9,945 24,751 31,187 37,265 54,837 73,827 Public and publicly guaranteed 223 3,957 6,583 13,662 13,330 14,185 15,200 14,988 Official creditors 218 2,998 4,149 6,273 6,152 6,674 7,301 8,006 Multilateral 0 1,685 3,364 5,577 5,602 6,092 6,709 7,295 of which: IBRD 0 844 1,898 2,522 2,448 2,481 2,604 2,572 IDA 0 0 0 0 0 0 0 0 Bilateral 218 1,312 785 696 550 583 592 710 Private creditors 5 959 2,434 7,389 7,177 7,510 7,899 6,982 of which: Bonds 0 0 736 2,179 2,123 2,371 2,650 2,714 Commercial banks 0 250 1,157 4,962 4,874 5,000 5,113 4,178 Private nonguaranteed 7 534 3,362 11,089 17,858 23,081 39,636 58,839 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 26 1,455 3,144 7,841 12,918 11,226 20,884 32,513 Public and publicly guaranteed 23 1,185 1,937 2,827 2,637 1,315 1,271 2,799 Official creditors 19 873 1,083 1,111 1,016 678 718 1,515 Multilateral 0 361 932 953 891 554 658 1,437 of which: IBRD 0 128 384 305 282 140 232 239 IDA 0 0 0 0 0 0 0 0 Bilateral 19 511 151 158 125 124 60 77 Private creditors 5 312 854 1,716 1,621 637 554 1,284 of which: Bonds 0 0 139 0 623 0 0 1,104 Commercial banks 0 165 674 1,682 958 620 527 175 Private nonguaranteed 3 271 1,207 5,014 10,281 9,911 19,613 29,715 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 4 302 1,705 3,402 5,179 6,304 8,219 14,427 Public and publicly guaranteed 0 217 984 1,504 1,697 1,436 1,469 2,490 Official creditors 0 132 493 639 590 556 585 685 Multilateral 0 14 326 432 376 450 508 626 of which: IBRD 0 0 91 163 205 195 211 288 IDA 0 0 0 0 0 0 0 0 Bilateral 0 118 168 207 213 106 77 60 Private creditors 0 85 491 866 1,107 880 884 1,805 of which: Bonds 0 0 0 186 374 0 0 883 Commercial banks 0 13 328 547 646 813 844 875 Private nonguaranteed 4 86 721 1,898 3,482 4,868 6,750 11,937 of which: Bonds 0 0 75 0 0 0 0 0 Interest payments 0 206 632 1,006 1,248 1,404 1,956 2,904 Public and publicly guaranteed 0 179 439 629 672 707 803 876 Official creditors 0 124 269 204 229 272 316 345 Multilateral 0 70 207 178 206 252 299 328 of which: IBRD 0 53 104 65 88 111 132 130 IDA 0 0 0 0 0 0 0 0 Bilateral 0 54 62 27 23 20 17 17 Private creditors 0 56 171 425 443 435 487 531 of which: Bonds 0 0 45 193 184 131 171 199 Commercial banks 0 8 76 217 248 295 312 327 Private nonguaranteed 0 27 193 376 576 697 1,153 2,028 of which: Bonds 0 0 7 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 53 1,230 2,154 6,947 9,287 15,079 30,094 20,909 Net flows on external debt 44 1,174 1,843 6,140 10,619 13,916 25,186 20,012 Cross-currency valuation 39 123 -254 609 -1,175 914 1,111 -497 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 2 19 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 960 848 810 930 994 1,094 1,076 1,001 Interest 313 334 339 334 317 291 257 223 Private creditors Principal 5,638 7,059 5,530 6,423 5,352 5,325 5,777 5,029 Interest 2,014 1,854 1,631 1,429 1,229 1,071 926 756 Notes: Short-term debt is based on reports provided by the country. 229 RUSSIAN FEDERATION 1. Summary external debt data External debt stocks .. 121,401 159,993 196,783 229,911 250,746 368,075 402,453 Long-term external debt .. 101,582 132,751 166,772 202,780 210,294 288,970 347,799 Public and publicly guaranteed .. 101,582 110,989 103,404 86,877 71,466 106,659 103,246 Private nonguaranteed .. 0 21,762 63,368 115,903 138,828 182,310 244,552 Use of IMF credit .. 9,617 11,613 3,562 0 0 0 0 Short-term external debt .. 10,201 15,630 26,449 27,131 40,453 79,106 54,655 interest arrears on long-term .. 5,851 4,530 3,103 3,151 747 606 655 Memorandum items .. 22,417 7,368 2,052 2,064 506 39 165 .. 101,582 110,989 103,404 86,877 71,466 106,659 103,246 .. 0 21,762 63,368 115,903 138,828 182,310 244,552 .. 3,154 76 1,032 11,545 13,004 45,956 23,462 External debt flows Disbursements .. 8,536 1,387 25,743 55,068 39,326 96,278 81,804 Long-term external debt .. 3,083 1,387 25,743 55,068 39,326 96,278 81,804 IMF purchases .. 5,453 0 0 0 0 0 0 Principal repayments .. 3,273 6,221 12,718 32,475 37,396 24,449 44,561 Long-term external debt .. 3,273 3,333 11,062 29,086 37,396 24,449 44,561 IMF repurchases .. 0 2,888 1,656 3,389 0 0 0 Net flows .. 4,913 -2,835 9,172 23,227 17,656 110,623 12,743 Long-term external debt .. -190 -1,947 14,682 25,982 1,930 71,829 37,243 Short-term external debt .. -350 2,000 -3,854 634 15,726 38,794 -24,500 Interest payments .. 2,885 5,604 8,367 9,446 12,888 16,109 22,557 Long-term external debt .. 2,591 4,284 7,550 8,569 11,597 13,745 20,702 IMF charges .. 294 691 112 27 0 0 0 Short-term external debt .. 0 630 705 850 1,291 2,364 1,855 2. Other non-debt resource flows Foreign direct investment (net) .. 2,065 2,714 15,444 12,886 29,701 55,073 73,053 Portfolio equity flows .. 47 150 270 -100 6,480 18,675 -15,005 Profit remittances on FDI .. 197 887 10,294 19,483 34,601 43,195 59,606 Grants (excluding technical coop.) .. 950 654 670 0 0 0 0 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 527 583 731 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 24.8 10.2 4.9 3.5 4.8 Japanese yen .. 2.0 0.8 1.2 1.2 1.2 0.8 0.7 Pound sterling .. 0.8 0.1 0.1 0.0 0.0 0.0 0.0 Swiss franc .. 2.8 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 52.1 71.6 68.8 83.4 87.4 92.0 91.0 4. Average terms of new commitments Official creditors Interest (%) .. 7.0 7.3 2.9 4.4 0.0 3.5 0.0 Maturity (years) .. 16.7 16.8 15.1 17.3 3.3 11.1 0.0 Grace period (years) .. 5.6 5.3 4.2 4.8 3.3 3.3 0.0 Private creditors Interest (%) .. 7.0 7.1 5.9 5.2 6.2 5.8 5.4 Maturity (years) .. 14.4 9.1 10.8 4.0 4.7 5.2 5.6 Grace period (years) .. 2.5 2.1 5.0 1.6 3.1 4.3 3.9 5. Major economic aggregates Gross national income (GNI) .. 392,156 252,972 578,973 745,542 960,921 1,258,578 1,557,151 Exports of goods, services & income .. 97,265 119,350 216,725 286,865 365,175 442,065 582,695 Worker remit. & comp. of employees .. 2,503 1,275 2,495 3,012 3,344 4,713 6,033 Imports of goods & services .. 90,459 72,580 155,438 200,604 268,185 360,696 476,397 International reserves .. 18,024 27,656 126,258 182,272 303,773 478,822 427,077 Current account balance .. 6,963 46,839 59,512 84,602 94,686 77,012 102,400 6. Ratios External debt stocks to exports (%) .. 124.8 134.1 90.8 80.1 68.7 83.3 69.1 External debt stocks to GNI (%) .. 31.0 63.2 34.0 30.8 26.1 29.2 25.8 Debt service to exports (%) .. 6.3 9.9 9.7 14.6 13.8 9.2 11.5 Short-term to external debt stocks (%) .. 8.4 9.8 13.4 11.8 16.1 21.5 13.6 Multilateral to external debt stocks (%) .. 1.6 4.4 3.1 2.4 2.2 1.4 1.1 Reserves to external debt stocks (%) .. 14.8 17.3 64.2 79.3 121.1 130.1 106.1 Reserves to imports (months) .. 2.4 4.6 9.7 10.9 13.6 15.9 10.8 230 RUSSIAN FEDERATION 7. Long-term external debt Debt outstanding and disbursed .. 101,582 132,751 166,772 202,780 210,294 288,970 347,799 Public and publicly guaranteed .. 101,582 110,989 103,404 86,877 71,466 106,659 103,246 Official creditors .. 57,449 70,851 57,627 34,723 11,177 9,641 8,371 Multilateral .. 1,985 7,040 6,165 5,627 5,451 5,099 4,477 of which: IBRD .. 1,524 6,844 5,743 5,091 4,759 4,292 3,851 IDA .. 0 0 0 0 0 0 0 Bilateral .. 55,464 63,811 51,462 29,096 5,727 4,542 3,894 Private creditors .. 44,133 40,138 45,777 52,154 60,288 97,019 94,875 of which: Bonds .. 1,115 36,368 43,151 40,244 43,654 60,070 66,719 Commercial banks .. 16,674 440 0 10,050 14,976 36,145 27,627 Private nonguaranteed .. 0 21,762 63,368 115,903 138,828 182,310 244,552 of which: Bonds .. 0 1,412 20,070 33,673 48,741 70,208 78,078 Disbursements .. 3,083 1,387 25,743 55,068 39,326 96,278 81,804 Public and publicly guaranteed .. 3,083 1,007 1,177 11,606 13,545 46,257 20,159 Official creditors .. 1,092 746 383 441 569 520 361 Multilateral .. 855 574 334 409 528 420 260 of which: IBRD .. 824 540 172 251 324 214 221 IDA .. 0 0 0 0 0 0 0 Bilateral .. 237 172 49 32 42 100 101 Private creditors .. 1,990 261 794 11,165 12,976 45,736 19,798 of which: Bonds .. 0 0 465 1,000 5,150 19,888 12,187 Commercial banks .. 20 0 0 10,050 7,826 25,848 7,611 Private nonguaranteed .. 0 380 24,566 43,462 25,781 50,021 61,645 of which: Bonds .. 0 75 9,675 14,620 16,192 26,395 14,333 Principal repayments .. 3,273 3,333 11,062 29,086 37,396 24,449 44,561 Public and publicly guaranteed .. 3,273 2,031 5,750 23,116 31,713 10,879 23,095 Official creditors .. 917 1,206 3,662 18,683 25,983 1,765 1,579 Multilateral .. 434 312 811 823 741 815 940 of which: IBRD .. 0 266 780 780 693 724 706 IDA .. 0 0 0 0 0 0 0 Bilateral .. 483 894 2,850 17,860 25,242 950 640 Private creditors .. 2,356 825 2,089 4,433 5,730 9,114 21,516 of which: Bonds .. 810 268 1,271 3,765 2,543 3,714 5,098 Commercial banks .. 51 19 2 0 2,900 4,679 16,110 Private nonguaranteed .. 0 1,302 5,311 5,971 5,683 13,570 21,465 of which: Bonds .. 0 825 430 822 1,475 6,065 6,020 Interest payments .. 2,591 4,284 7,550 8,569 11,597 13,745 20,702 Public and publicly guaranteed .. 2,591 3,207 5,430 5,221 5,277 4,704 6,251 Official creditors .. 1,245 1,227 2,425 2,339 1,735 453 331 Multilateral .. 132 431 144 201 276 301 234 of which: IBRD .. 57 412 137 184 243 262 202 IDA .. 0 0 0 0 0 0 0 Bilateral .. 1,113 796 2,281 2,137 1,458 152 97 Private creditors .. 1,346 1,979 3,004 2,882 3,543 4,251 5,920 of which: Bonds .. 140 1,845 2,911 2,804 2,855 3,331 4,361 Commercial banks .. 600 4 0 7 631 875 1,523 Private nonguaranteed .. 0 1,077 2,120 3,348 6,320 9,041 14,451 of which: Bonds .. 0 165 954 1,774 3,234 4,722 5,269 8. Debt stock-flow reconciliation Total change in external debt stocks .. -374 -14,761 21,107 33,128 20,836 117,329 34,378 Net flows on external debt .. 4,913 -2,835 9,172 23,227 17,656 110,623 12,743 Cross-currency valuation .. 3,391 -3,063 2,064 -3,997 1,059 487 27 9. Debt restructurings Total amount rescheduled .. 7,166 26,526 1,900 0 1,170 0 0 Total amount forgiven .. 0 11,600 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,661 1,469 1,167 917 702 598 430 287 Interest 256 218 178 143 115 93 74 61 Private creditors Principal 77,050 51,319 45,400 31,099 33,853 20,414 14,836 13,764 Interest 16,471 13,701 11,362 9,443 7,797 6,244 5,245 4,410 Notes: Data on long-term public and publicly guaranteed, long-term private nonguaranteed, and short-term debt are World Bank staff estimates based on reports provided by the country. 231 RWANDA 1. Summary external debt data External debt stocks 708.0 1,029.0 1,271.6 1,660.9 1,518.2 418.6 582.6 679.3 Long-term external debt 660.8 970.7 1,147.3 1,543.4 1,419.6 389.3 556.4 645.2 Public and publicly guaranteed 660.8 970.7 1,147.3 1,543.4 1,419.6 389.3 556.4 645.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.1 26.3 85.8 92.3 77.0 4.3 8.1 11.4 Short-term external debt 47.1 32.0 38.4 25.2 21.6 25.0 18.1 22.6 interest arrears on long-term 1.6 17.5 16.7 18.2 17.6 18.0 18.1 17.6 Memorandum items 8.3 44.2 72.7 80.3 78.5 78.4 77.2 73.2 660.8 970.7 1,147.3 1,543.4 1,419.6 389.3 556.4 645.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71.9 50.0 55.0 93.8 47.5 16.2 282.0 125.8 External debt flows Disbursements 62.3 67.5 64.9 102.0 86.5 67.0 81.2 115.6 Long-term external debt 62.3 54.0 39.8 100.3 84.8 64.5 77.7 112.0 IMF purchases 0.0 13.5 25.1 1.7 1.7 2.5 3.5 3.6 Principal repayments 8.7 11.4 23.9 13.3 14.3 22.2 12.4 11.5 Long-term external debt 7.9 11.4 12.7 12.8 10.6 22.2 12.4 11.5 IMF repurchases 0.8 0.0 11.1 0.6 3.7 0.0 0.0 0.0 Net flows 55.5 52.6 24.7 83.7 69.2 47.9 61.8 109.1 Long-term external debt 54.4 42.6 27.1 87.6 74.2 42.4 65.3 100.5 Short-term external debt 1.9 -3.5 -16.4 -5.0 -3.0 3.0 -7.0 5.0 Interest payments 11.1 8.9 11.1 10.9 9.5 8.8 5.2 7.7 Long-term external debt 5.9 8.3 8.2 10.4 8.8 8.5 5.0 7.6 IMF charges 0.0 0.1 1.4 0.5 0.4 0.0 0.0 0.1 Short-term external debt 5.2 0.5 1.5 0.1 0.2 0.3 0.2 0.1 2. Other non-debt resource flows Foreign direct investment (net) 7.6 2.2 8.3 7.7 8.0 11.2 67.1 103.4 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 6.0 1.5 3.1 3.0 4.7 3.9 9.3 15.4 Grants (excluding technical coop.) 144.6 565.7 211.3 325.6 420.3 1,557.3 536.0 738.9 of which: Debt forgiveness grants .. .. 4.7 24.5 46.8 1,205.8 1.5 2.1 IDA grants .. .. .. 59.6 65.9 19.5 73.4 99.6 Memo: technical coop. grants 90.1 97.0 55.6 95.9 105.6 128.0 73.8 93.1 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.6 4.2 6.9 5.2 5.6 Japanese yen 1.5 1.3 0.4 0.1 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 38.8 45.6 58.6 63.5 63.8 53.9 44.3 42.5 4. Average terms of new commitments Official creditors Interest (%) 1.4 0.8 0.8 0.8 0.8 1.0 3.5 2.5 Maturity (years) 33.9 39.8 39.7 46.1 44.4 31.3 25.4 27.7 Grace period (years) 9.0 10.3 10.2 10.4 10.1 6.7 7.7 8.3 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,572.3 1,298.9 1,719.6 1,936.5 2,351.4 2,805.9 3,394.6 4,419.6 Exports of goods, services & income 147.9 98.8 145.1 215.9 293.3 319.7 439.6 .. Worker remit. & comp. of employees 3.0 21.0 7.0 9.8 20.9 21.2 51.3 51.3 Imports of goods & services 374.7 391.3 451.7 555.4 702.8 778.3 971.4 .. International reserves 44.3 99.1 190.6 314.6 405.8 439.7 552.8 596.3 Current account balance -84.6 57.5 -94.4 -35.2 -52.1 -180.0 -146.6 .. 6. Ratios External debt stocks to exports (%) 478.6 1,041.4 876.2 769.3 517.7 130.9 132.5 .. External debt stocks to GNI (%) 27.5 79.2 73.9 85.8 64.6 14.9 17.2 15.4 Debt service to exports (%) 13.4 20.5 24.1 11.2 8.1 9.7 4.0 .. Short-term to external debt stocks (%) 6.7 3.1 3.0 1.5 1.4 6.0 3.1 3.3 Multilateral to external debt stocks (%) 76.6 79.1 78.4 84.4 89.7 80.1 79.8 81.8 Reserves to external debt stocks (%) 6.3 9.6 15.0 18.9 26.7 105.0 94.9 87.8 Reserves to imports (months) 1.4 3.0 5.1 6.8 6.9 6.8 6.8 .. 232 RWANDA 7. Long-term external debt Debt outstanding and disbursed 660.8 970.7 1,147.3 1,543.4 1,419.6 389.3 556.4 645.2 Public and publicly guaranteed 660.8 970.7 1,147.3 1,543.4 1,419.6 389.3 556.4 645.2 Official creditors 660.8 970.7 1,147.3 1,543.4 1,419.6 389.3 556.4 645.2 Multilateral 542.2 813.7 997.4 1,402.3 1,361.9 335.2 465.1 555.5 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 339.9 512.0 691.9 1,019.9 980.3 168.5 203.8 241.7 Bilateral 118.6 157.0 150.0 141.1 57.7 54.1 91.2 89.7 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 62.3 54.0 39.8 100.3 84.8 64.5 77.7 112.0 Public and publicly guaranteed 62.3 54.0 39.8 100.3 84.8 64.5 77.7 112.0 Official creditors 62.3 54.0 39.8 100.3 84.8 64.5 77.7 112.0 Multilateral 36.8 54.0 39.8 100.3 84.8 64.5 67.6 104.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 21.7 34.8 37.2 82.3 46.8 37.0 27.6 40.5 Bilateral 25.5 0.0 0.0 0.0 0.0 0.0 10.1 7.2 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 7.9 11.4 12.7 12.8 10.6 22.2 12.4 11.5 Public and publicly guaranteed 7.9 11.4 12.7 12.8 10.6 22.2 12.4 11.5 Official creditors 7.1 11.4 12.7 12.8 10.6 22.2 12.4 11.5 Multilateral 4.7 11.2 10.4 4.3 6.4 17.9 9.0 7.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 1.1 5.8 6.3 0.1 0.2 8.4 0.0 0.0 Bilateral 2.4 0.2 2.3 8.5 4.2 4.2 3.4 3.8 Private creditors 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 5.9 8.3 8.2 10.4 8.8 8.5 5.0 7.6 Public and publicly guaranteed 5.9 8.3 8.2 10.4 8.8 8.5 5.0 7.6 Official creditors 5.9 8.3 8.2 10.4 8.8 8.5 5.0 7.6 Multilateral 4.4 8.3 7.2 8.4 8.7 8.2 4.6 5.6 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.3 6.7 5.1 5.8 5.6 4.5 1.5 1.7 Bilateral 1.5 0.0 1.0 2.0 0.2 0.3 0.5 2.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 88.9 76.7 -20.7 122.6 -142.6 -1,099.7 164.0 96.6 Net flows on external debt 55.5 52.6 24.7 83.7 69.2 47.9 61.8 109.1 Cross-currency valuation 8.8 -20.9 -36.6 37.5 -95.9 -940.2 25.4 7.0 9. Debt restructurings Total amount rescheduled 0.0 6.1 6.8 0.0 8.0 7.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.3 21.1 97.3 1,137.9 0.0 7.6 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6.5 6.8 8.2 12.2 15.5 16.1 26.4 31.8 Interest 11.2 12.6 13.5 13.9 14.2 14.1 13.9 13.2 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Rwanda was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. 233 SAMOA 1. Summary external debt data External debt stocks 91.8 168.1 147.3 185.7 177.3 205.9 234.8 256.8 Long-term external debt 91.0 168.1 147.3 185.7 177.3 205.9 234.8 256.8 Public and publicly guaranteed 91.0 168.1 147.3 185.7 177.3 205.9 234.8 256.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 interest arrears on long-term 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91.0 168.1 147.3 185.7 177.3 205.9 234.8 256.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.3 9.2 11.8 23.2 48.3 8.5 91.3 48.8 External debt flows Disbursements 15.4 12.7 6.7 5.2 10.4 26.9 27.5 32.9 Long-term external debt 15.4 12.7 6.7 5.2 10.4 26.9 27.5 32.9 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 4.1 3.0 4.2 4.7 4.5 5.1 9.6 10.5 Long-term external debt 3.3 3.0 4.2 4.7 4.5 5.1 9.6 10.5 IMF repurchases 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 11.2 9.8 2.5 0.5 5.9 21.8 17.9 22.4 Long-term external debt 12.1 9.8 2.5 0.5 5.9 21.8 17.9 22.4 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.3 1.6 1.4 1.7 1.6 2.9 2.7 3.5 Long-term external debt 1.2 1.6 1.4 1.7 1.6 2.9 2.7 3.5 IMF charges 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 6.6 3.4 -1.5 2.3 -3.0 20.7 2.5 6.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 0.0 0.0 9.8 7.7 13.8 8.8 0.0 Grants (excluding technical coop.) 20.2 20.8 4.6 5.3 16.1 22.5 9.3 17.3 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 1.3 0.8 0.3 0.0 Memo: technical coop. grants 13.5 16.9 17.6 23.9 20.4 22.3 24.4 21.7 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.0 1.6 1.3 1.1 0.7 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 38.6 34.8 38.3 40.9 41.2 48.1 48.7 46.9 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.7 1.1 1.0 3.8 1.4 1.1 0.8 Maturity (years) 39.8 40.6 35.1 36.8 19.6 31.4 28.8 22.9 Grace period (years) 10.3 9.9 9.0 9.5 5.1 7.9 8.5 5.9 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 164.3 193.7 231.7 378.0 411.3 440.5 530.7 507.0 Exports of goods, services & income 94.1 108.4 .. 111.1 131.3 149.7 159.6 .. Worker remit. & comp. of employees 43.0 41.0 45.0 87.9 109.9 108.0 119.8 135.0 Imports of goods & services 96.5 119.9 .. 219.6 263.3 293.2 306.3 .. International reserves 69.0 55.3 63.7 86.1 81.8 80.7 95.4 87.1 Current account balance 8.6 9.3 .. -26.2 -25.2 -47.8 -35.8 .. 6. Ratios External debt stocks to exports (%) 97.6 155.1 .. 167.1 135.1 137.5 147.1 .. External debt stocks to GNI (%) 55.9 86.8 63.6 49.1 43.1 46.8 44.2 50.6 Debt service to exports (%) 5.8 4.2 .. 5.8 4.6 5.4 7.7 .. Short-term to external debt stocks (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral to external debt stocks (%) 88.3 93.5 93.9 92.8 92.6 93.5 91.9 86.0 Reserves to external debt stocks (%) 75.2 32.9 43.2 46.4 46.1 39.2 40.6 33.9 Reserves to imports (months) 8.6 5.5 .. 4.7 3.7 3.3 3.7 .. 234 SAMOA 7. Long-term external debt Debt outstanding and disbursed 91.0 168.1 147.3 185.7 177.3 205.9 234.8 256.8 Public and publicly guaranteed 91.0 168.1 147.3 185.7 177.3 205.9 234.8 256.8 Official creditors 89.6 168.1 147.3 185.7 177.3 205.9 234.8 256.8 Multilateral 81.1 157.1 138.2 172.3 164.2 192.6 215.7 220.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 18.3 44.7 47.3 61.7 64.2 69.3 77.7 79.0 Bilateral 8.5 11.0 9.1 13.3 13.2 13.3 19.0 35.8 Private creditors 1.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 1.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 15.4 12.7 6.7 5.2 10.4 26.9 27.5 32.9 Public and publicly guaranteed 15.4 12.7 6.7 5.2 10.4 26.9 27.5 32.9 Official creditors 15.4 12.7 6.7 5.2 10.4 26.9 27.5 32.9 Multilateral 15.0 12.6 6.0 5.2 10.4 26.9 18.8 13.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 3.5 0.7 5.7 2.7 7.7 3.5 6.9 3.1 Bilateral 0.4 0.2 0.7 0.0 0.0 0.0 8.7 19.7 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 3.3 3.0 4.2 4.7 4.5 5.1 9.6 10.5 Public and publicly guaranteed 3.3 3.0 4.2 4.7 4.5 5.1 9.6 10.5 Official creditors 3.3 3.0 4.2 4.7 4.5 5.1 9.6 10.5 Multilateral 2.2 2.6 3.3 4.1 4.0 4.8 5.5 6.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.2 0.7 1.0 1.0 1.1 1.2 1.3 Bilateral 1.0 0.3 0.9 0.7 0.4 0.3 4.1 4.4 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.2 1.6 1.4 1.7 1.6 2.9 2.7 3.5 Public and publicly guaranteed 1.2 1.6 1.4 1.7 1.6 2.9 2.7 3.5 Official creditors 1.1 1.6 1.4 1.7 1.6 2.9 2.7 3.5 Multilateral 0.7 1.5 1.3 1.6 1.6 2.6 2.7 3.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.3 0.3 0.5 0.6 0.5 0.6 0.6 Bilateral 0.4 0.1 0.0 0.1 0.0 0.3 0.0 0.3 Private creditors 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 18.3 11.4 -9.3 8.0 -8.3 28.6 28.8 22.0 Net flows on external debt 11.2 9.8 2.5 0.5 5.9 21.8 17.9 22.4 Cross-currency valuation 6.0 -1.0 -10.2 7.3 -14.0 6.2 9.8 -16.8 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 10.4 10.0 10.8 11.9 12.8 16.3 16.8 17.3 Interest 4.4 4.5 4.4 4.3 4.2 4.0 3.8 3.7 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt in 2008 are World Bank staff estimates based on reports provided by the country. Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2006, 2007, and 2008 are $656 millions, $914 millions, and $1,141 millions respectively. 235 SAO TOME AND PRINCIPE 1. Summary external debt data External debt stocks 150.0 245.7 310.1 371.3 344.8 359.8 173.2 177.8 Long-term external debt 132.9 231.8 284.4 351.6 327.2 340.6 151.4 155.0 Public and publicly guaranteed 132.9 231.8 284.4 351.6 327.2 340.6 151.4 155.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 1.1 0.8 2.5 3.0 3.2 4.1 2.6 3.8 Short-term external debt 16.0 13.0 23.3 16.7 14.4 15.1 19.2 19.1 interest arrears on long-term 7.6 6.0 11.3 16.7 14.4 14.1 8.2 9.1 Memorandum items 21.4 27.2 47.7 53.4 55.8 69.6 71.6 77.0 132.9 231.8 284.4 351.6 327.2 340.6 151.4 155.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36.3 0.0 18.2 16.1 0.0 0.0 0.0 0.0 External debt flows Disbursements 15.6 13.0 13.9 14.8 6.1 3.9 5.5 6.6 Long-term external debt 15.6 13.0 11.4 14.8 5.4 2.7 4.2 5.2 IMF purchases 0.0 0.0 2.5 0.0 0.6 1.2 1.3 1.3 Principal repayments 1.1 1.1 2.2 3.9 5.7 7.3 6.3 2.8 Long-term external debt 1.1 0.8 2.2 3.9 5.5 6.7 5.5 2.8 IMF repurchases 0.0 0.2 0.0 0.0 0.1 0.6 0.8 0.0 Net flows 9.2 12.9 11.7 10.9 0.4 -2.4 9.2 2.8 Long-term external debt 14.4 12.2 9.2 10.9 -0.1 -4.1 -1.4 2.5 Short-term external debt -5.3 1.0 0.0 0.0 0.0 1.0 10.0 -1.0 Interest payments 1.7 1.2 2.1 2.6 2.1 2.0 1.5 0.7 Long-term external debt 1.2 0.9 1.2 2.6 2.1 2.0 1.2 0.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.5 0.3 0.9 0.0 0.0 0.0 0.3 0.3 2. Other non-debt resource flows Foreign direct investment (net) 0.0 0.0 3.8 3.5 15.7 37.5 35.3 33.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 26.7 24.6 13.3 18.5 20.3 16.3 99.0 41.3 of which: Debt forgiveness grants .. .. 2.1 1.3 1.4 2.2 78.4 16.5 IDA grants .. .. .. 0.0 0.3 0.4 0.5 6.2 Memo: technical coop. grants 7.0 20.5 11.8 14.5 10.5 10.7 12.0 16.3 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.0 6.0 6.4 3.6 3.2 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 4.6 5.4 5.0 5.2 12.7 13.1 U.S.dollars 39.3 40.0 44.9 46.0 46.7 46.2 66.6 64.4 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 0.9 1.7 0.0 0.0 0.0 0.0 Maturity (years) 35.7 0.0 38.7 26.3 0.0 0.0 0.0 0.0 Grace period (years) 10.1 0.0 9.3 7.2 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. 110.7 126.9 151.0 178.6 Exports of goods, services & income 8.2 .. 16.7 17.4 19.4 23.9 19.8 .. Worker remit. & comp. of employees .. .. 1.0 1.1 1.5 1.6 2.0 2.0 Imports of goods & services 22.4 .. 39.7 58.2 57.6 80.1 85.8 .. International reserves .. 5.1 11.6 19.5 26.7 34.2 39.3 .. Current account balance -12.0 .. -19.1 -37.7 -36.2 -57.7 -66.8 .. 6. Ratios External debt stocks to exports (%) 1,820.9 .. 1,855.7 2,138.2 1,776.0 1,507.3 875.6 .. External debt stocks to GNI (%) .. .. .. .. 311.5 283.6 114.7 99.6 Debt service to exports (%) 34.4 .. 25.8 37.4 39.8 39.1 39.2 .. Short-term to external debt stocks (%) 10.7 5.3 7.5 4.5 4.2 4.2 11.1 10.7 Multilateral to external debt stocks (%) 48.4 61.9 54.6 57.0 57.3 56.5 21.8 23.0 Reserves to external debt stocks (%) .. 2.1 3.8 5.3 7.7 9.5 22.7 .. Reserves to imports (months) .. .. 3.5 4.0 5.6 5.1 5.5 .. 236 SAO TOME AND PRINCIPE 7. Long-term external debt Debt outstanding and disbursed 132.9 231.8 284.4 351.6 327.2 340.6 151.4 155.0 Public and publicly guaranteed 132.9 231.8 284.4 351.6 327.2 340.6 151.4 155.0 Official creditors 131.7 231.8 284.4 351.6 327.2 340.6 151.4 155.0 Multilateral 72.6 152.0 169.3 211.7 197.4 203.4 37.8 40.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 23.9 53.6 58.9 76.9 72.4 76.4 10.7 13.3 Bilateral 59.2 79.9 115.1 139.9 129.8 137.2 113.6 114.0 Private creditors 1.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 15.6 13.0 11.4 14.8 5.4 2.7 4.2 5.2 Public and publicly guaranteed 15.6 13.0 11.4 14.8 5.4 2.7 4.2 5.2 Official creditors 15.6 13.0 11.4 14.8 5.4 2.7 4.2 5.2 Multilateral 12.8 13.0 8.4 9.8 5.4 2.7 4.2 5.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 5.4 5.6 1.7 3.2 2.5 1.9 2.6 2.7 Bilateral 2.7 0.0 2.9 5.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.1 0.8 2.2 3.9 5.5 6.7 5.5 2.8 Public and publicly guaranteed 1.1 0.8 2.2 3.9 5.5 6.7 5.5 2.8 Official creditors 1.0 0.8 2.2 3.9 5.5 6.7 5.5 2.8 Multilateral 0.4 0.8 1.9 3.0 2.0 4.9 4.4 1.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.5 0.1 0.1 1.3 0.1 0.0 Bilateral 0.6 0.0 0.3 0.9 3.5 1.9 1.1 1.1 Private creditors 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.2 0.9 1.2 2.6 2.1 2.0 1.2 0.4 Public and publicly guaranteed 1.2 0.9 1.2 2.6 2.1 2.0 1.2 0.4 Official creditors 1.1 0.9 1.2 2.6 2.1 2.0 1.2 0.4 Multilateral 0.3 0.8 1.2 1.4 1.4 1.7 1.2 0.4 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.3 0.5 0.4 0.5 0.6 0.1 0.1 Bilateral 0.9 0.1 0.0 1.2 0.7 0.3 0.0 0.0 Private creditors 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 15.6 22.9 -15.0 21.1 -26.5 15.0 -186.6 4.7 Net flows on external debt 9.2 12.9 11.7 10.9 0.4 -2.4 9.2 2.8 Cross-currency valuation 2.3 1.3 -7.6 0.5 -19.0 -1.9 -71.5 -0.5 9. Debt restructurings Total amount rescheduled 0.0 30.3 7.2 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 11.4 2.7 2.9 0.0 194.0 2.7 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 8.1 7.8 7.4 7.4 6.8 6.6 5.6 4.2 Interest 1.1 1.0 0.9 0.8 0.7 0.6 0.6 0.5 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt in 2008 are World Bank staff estimates based on reports provided by the country. Data for 2007 and 2008 include the effects of Multilateral Debt Relief Initiative and Enhanced HIPC Initiative, in the amount of $69,140 in thousands and $36 in thousands respectively. 237 SENEGAL 1. Summary external debt data External debt stocks 3,754 3,916 3,622 3,942 3,865 1,923 2,589 2,861 Long-term external debt 3,018 3,309 3,221 3,702 3,681 1,813 2,230 2,600 Public and publicly guaranteed 2,958 3,266 3,209 3,557 3,540 1,662 2,030 2,419 Private nonguaranteed 60 44 13 145 141 151 200 180 Use of IMF credit 314 347 255 204 148 26 27 64 Short-term external debt 421 260 146 36 36 84 332 197 interest arrears on long-term 4 9 1 0 0 0 0 0 Memorandum items 0 51 17 13 10 18 15 5 2,921 3,234 3,209 3,557 3,540 1,662 2,030 2,419 97 76 13 145 141 151 200 180 375 333 241 327 284 521 294 567 External debt flows Disbursements 261 256 156 455 387 279 498 558 Long-term external debt 232 173 137 450 382 259 498 520 IMF purchases 29 83 19 5 5 20 0 38 Principal repayments 196 196 148 261 145 119 120 126 Long-term external debt 141 156 127 227 112 119 120 126 IMF repurchases 55 41 21 35 34 0 0 0 Net flows 232 87 -153 75 242 208 626 298 Long-term external debt 91 17 10 223 270 139 378 394 Short-term external debt 167 28 -161 -118 0 48 248 -135 Interest payments 128 87 76 74 57 74 63 55 Long-term external debt 84 70 58 70 55 71 51 49 IMF charges 15 3 1 1 1 0 0 0 Short-term external debt 29 14 17 3 2 4 12 6 2. Other non-debt resource flows Foreign direct investment (net) 57 32 63 77 45 220 297 706 Portfolio equity flows 1 4 -2 -28 -6 0 8 0 Profit remittances on FDI 60 62 75 68 62 70 78 0 Grants (excluding technical coop.) 553 373 248 791 352 2,556 407 579 of which: Debt forgiveness grants .. .. 60 513 158 2,336 22 66 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 175 185 123 217 227 358 205 225 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.3 10.8 8.7 9.8 15.7 Japanese yen 1.5 3.6 3.5 3.3 2.7 5.1 0.0 0.2 Pound sterling 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.9 0.5 0.2 0.0 0.0 0.0 0.0 0.0 U.S.dollars 32.8 35.8 45.0 58.2 58.9 39.8 40.3 36.5 4. Average terms of new commitments Official creditors Interest (%) 2.0 1.2 0.8 0.9 1.2 0.9 1.9 2.7 Maturity (years) 33.4 37.6 40.1 33.7 31.6 33.5 23.5 23.4 Grace period (years) 8.8 9.1 9.9 8.8 7.3 8.4 5.8 6.7 Private creditors Interest (%) 8.3 0.0 3.0 0.0 0.0 6.3 0.0 0.0 Maturity (years) 10.1 0.0 9.3 0.0 0.0 9.0 0.0 0.0 Grace period (years) 2.6 0.0 2.8 0.0 0.0 0.4 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. .. 9,278 11,203 13,104 Exports of goods, services & income 1,628 1,680 1,562 2,843 3,168 3,373 4,120 .. Worker remit. & comp. of employees 142 146 233 633 789 925 1,192 1,288 Imports of goods & services 2,053 2,033 1,929 3,423 3,880 4,220 5,614 .. International reserves 22 272 384 1,386 1,191 1,334 1,660 1,601 Current account balance -363 -244 -332 -510 -676 -861 -1,311 .. 6. Ratios External debt stocks to exports (%) 230.6 233.2 231.8 138.6 122.0 57.0 62.8 .. External debt stocks to GNI (%) .. .. .. .. .. 20.7 23.1 21.8 Debt service to exports (%) 19.9 16.8 14.3 11.8 6.4 5.7 4.4 .. Short-term to external debt stocks (%) 11.2 6.6 4.0 0.9 0.9 4.4 12.8 6.9 Multilateral to external debt stocks (%) 36.6 48.2 52.8 72.6 73.3 51.2 53.9 54.9 Reserves to external debt stocks (%) 0.6 6.9 10.6 35.2 30.8 69.4 64.1 56.0 Reserves to imports (months) 0.1 1.6 2.4 4.9 3.7 3.8 3.5 .. 238 SENEGAL 7. Long-term external debt Debt outstanding and disbursed 3,018 3,309 3,221 3,702 3,681 1,813 2,230 2,600 Public and publicly guaranteed 2,958 3,266 3,209 3,557 3,540 1,662 2,030 2,419 Official creditors 2,793 3,194 3,204 3,545 3,530 1,651 2,021 2,413 Multilateral 1,376 1,889 1,913 2,861 2,832 985 1,394 1,571 of which: IBRD 88 35 1 0 0 0 0 0 IDA 747 1,126 1,330 2,040 2,045 495 663 791 Bilateral 1,417 1,305 1,291 684 699 666 626 842 Private creditors 166 72 5 12 9 11 9 6 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 113 66 5 12 9 11 9 6 Private nonguaranteed 60 44 13 145 141 151 200 180 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 232 173 137 450 382 259 498 520 Public and publicly guaranteed 217 172 136 340 333 224 473 515 Official creditors 217 172 131 340 333 220 473 515 Multilateral 145 144 119 291 262 193 395 243 of which: IBRD 0 0 0 0 0 0 0 0 IDA 117 107 92 173 182 131 133 135 Bilateral 72 28 12 49 71 27 79 273 Private creditors 0 0 5 0 0 4 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 5 0 0 4 0 0 Private nonguaranteed 15 1 1 110 49 35 24 4 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 141 156 127 227 112 119 120 126 Public and publicly guaranteed 129 150 124 212 83 105 66 87 Official creditors 111 129 124 210 81 102 64 84 Multilateral 58 98 68 64 40 57 37 45 of which: IBRD 13 12 3 0 0 0 0 0 IDA 3 6 11 15 12 15 0 1 Bilateral 52 31 56 145 41 45 27 39 Private creditors 19 21 0 2 2 3 3 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 8 12 0 2 2 3 3 3 Private nonguaranteed 12 5 3 15 29 14 54 39 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 84 70 58 70 55 71 51 49 Public and publicly guaranteed 81 69 58 62 45 62 34 36 Official creditors 71 65 58 62 44 61 34 36 Multilateral 26 38 26 35 31 50 25 24 of which: IBRD 6 3 0 0 0 0 0 0 IDA 4 8 8 15 16 10 5 5 Bilateral 45 27 32 27 13 11 9 12 Private creditors 10 3 0 0 1 1 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 7 2 0 0 1 1 1 0 Private nonguaranteed 3 1 0 8 10 9 16 13 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 475 218 -345 -447 -77 -1,942 666 271 Net flows on external debt 232 87 -153 75 242 208 626 298 Cross-currency valuation 30 -191 -166 171 -256 -1,941 -14 -1 9. Debt restructurings Total amount rescheduled 111 258 0 93 31 262 4 2 Total amount forgiven 18 27 22 403 36 2,295 146 3 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 119 119 175 178 179 130 136 141 Interest 44 46 45 41 37 33 31 29 Private creditors Principal 29 29 26 26 26 26 26 0 Interest 5 4 4 3 2 1 1 0 Notes: Senegal was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 239 SERBIA 1. Summary external debt data External debt stocks .. 10,785 11,499 14,322 15,945 19,680 26,378 30,918 Long-term external debt .. 8,562 6,789 11,669 12,837 17,439 23,726 26,795 Public and publicly guaranteed .. 6,788 6,178 8,124 7,623 7,631 8,322 8,475 Private nonguaranteed .. 1,773 611 3,545 5,214 9,808 15,404 18,320 Use of IMF credit .. 84 152 964 866 0 0 0 Short-term external debt .. 2,139 4,558 1,689 2,242 2,241 2,652 4,123 interest arrears on long-term .. 1,396 3,668 690 728 584 704 706 Memorandum items .. 4,182 5,275 805 805 732 1,250 1,625 .. 6,693 6,095 8,124 7,623 7,631 8,316 8,452 .. 1,869 694 3,545 5,214 9,808 15,410 18,343 .. 0 71 513 223 668 401 49 External debt flows Disbursements .. 0 376 2,292 3,088 5,277 6,645 7,276 Long-term external debt .. 0 222 2,052 2,904 5,277 6,645 7,276 IMF purchases .. 0 154 241 185 0 0 0 Principal repayments .. 0 73 587 776 1,558 2,334 3,527 Long-term external debt .. 0 0 353 570 1,319 2,334 3,527 IMF repurchases .. 0 73 235 206 239 0 0 Net flows .. 120 51 1,648 2,827 3,861 4,602 5,218 Long-term external debt .. 0 222 1,699 2,334 3,957 4,311 3,749 Short-term external debt .. 120 -252 -57 515 143 291 1,469 Interest payments .. 47 47 311 456 589 912 1,211 Long-term external debt .. 0 0 255 367 504 822 1,130 IMF charges .. 0 29 24 32 6 0 0 Short-term external debt .. 47 18 32 57 79 90 80 2. Other non-debt resource flows Foreign direct investment (net) .. 45 25 966 1,609 4,499 3,448 2,992 Portfolio equity flows .. 0 0 0 0 0 764 -57 Profit remittances on FDI .. 0 0 0 0 0 604 898 Grants (excluding technical coop.) .. 487 1,000 685 620 1,215 558 588 of which: Debt forgiveness grants .. .. 0 31 201 689 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 57 118 299 329 310 209 323 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 32.3 32.0 35.2 37.3 38.9 Japanese yen .. 2.2 2.0 1.2 0.9 0.9 0.8 0.9 Pound sterling .. 0.7 0.5 0.2 0.2 0.2 0.1 0.1 Swiss franc .. 3.6 2.8 2.1 1.9 3.4 3.2 3.0 U.S.dollars .. 19.8 24.6 63.1 63.1 58.3 56.0 54.2 4. Average terms of new commitments Official creditors Interest (%) .. 0.0 0.4 3.3 1.7 4.1 5.1 5.2 Maturity (years) .. 0.0 23.2 23.3 19.1 16.6 18.5 14.6 Grace period (years) .. 0.0 7.8 8.8 7.9 3.8 6.1 5.1 Private creditors Interest (%) .. 0.0 7.8 0.0 0.0 4.1 0.0 5.0 Maturity (years) .. 0.0 6.4 0.0 0.0 7.1 0.0 2.0 Grace period (years) .. 0.0 1.9 0.0 0.0 7.1 0.0 2.0 5. Major economic aggregates Gross national income (GNI) .. .. 8,962 23,986 25,442 29,515 38,485 48,705 Exports of goods, services & income .. .. .. .. .. .. 26,870 34,083 Worker remit. & comp. of employees .. .. 1,132 4,129 4,650 4,703 5,377 5,538 Imports of goods & services .. .. .. .. .. .. 39,559 52,301 International reserves .. .. 517 4,245 5,842 11,889 14,214 11,478 Current account balance .. .. .. .. .. .. -10,929 -15,989 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. 98.2 90.7 External debt stocks to GNI (%) .. .. 128.3 59.7 62.7 66.7 68.5 63.5 Debt service to exports (%) .. .. .. .. .. .. 12.1 13.9 Short-term to external debt stocks (%) .. 19.8 39.6 11.8 14.1 11.4 10.1 13.3 Multilateral to external debt stocks (%) .. 12.2 12.5 26.2 22.3 20.1 17.0 15.4 Reserves to external debt stocks (%) .. .. 4.5 29.6 36.6 60.4 53.9 37.1 Reserves to imports (months) .. .. .. .. .. .. 4.3 2.6 240 SERBIA 7. Long-term external debt Debt outstanding and disbursed .. 8,562 6,789 11,669 12,837 17,439 23,726 26,795 Public and publicly guaranteed .. 6,788 6,178 8,124 7,623 7,631 8,322 8,475 Official creditors .. 4,588 4,243 7,047 6,546 6,502 7,142 7,300 Multilateral .. 1,311 1,440 3,750 3,559 3,951 4,484 4,762 of which: IBRD .. 1,252 1,097 2,470 2,147 2,127 2,326 2,276 IDA .. 0 0 434 486 553 625 655 Bilateral .. 3,277 2,803 3,297 2,986 2,551 2,657 2,538 Private creditors .. 2,200 1,935 1,077 1,077 1,129 1,180 1,175 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 2,193 1,928 1,076 1,076 1,128 1,179 1,174 Private nonguaranteed .. 1,773 611 3,545 5,214 9,808 15,404 18,320 of which: Bonds .. 0 0 0 0 0 165 165 Disbursements .. 0 222 2,052 2,904 5,277 6,645 7,276 Public and publicly guaranteed .. 0 222 524 311 449 300 573 Official creditors .. 0 187 524 311 399 259 570 Multilateral .. 0 0 293 286 385 230 558 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 142 85 43 47 34 Bilateral .. 0 187 231 25 14 29 13 Private creditors .. 0 35 0 0 50 41 3 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 50 41 3 Private nonguaranteed .. 0 0 1,527 2,593 4,828 6,345 6,703 of which: Bonds .. 0 0 0 0 0 165 0 Principal repayments .. 0 0 353 570 1,319 2,334 3,527 Public and publicly guaranteed .. 0 0 16 48 278 185 222 Official creditors .. 0 0 16 48 278 185 221 Multilateral .. 0 0 10 31 264 91 160 of which: IBRD .. 0 0 0 17 242 17 22 IDA .. 0 0 0 0 0 0 0 Bilateral .. 0 0 6 16 13 94 61 Private creditors .. 0 0 0 0 0 0 1 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 1 Private nonguaranteed .. 0 0 336 522 1,041 2,149 3,305 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 0 0 255 367 504 822 1,130 Public and publicly guaranteed .. 0 0 202 237 264 397 349 Official creditors .. 0 0 162 194 219 351 322 Multilateral .. 0 0 126 134 143 173 185 of which: IBRD .. 0 0 100 99 106 112 96 IDA .. 0 0 3 4 4 5 5 Bilateral .. 0 0 36 60 76 178 137 Private creditors .. 0 0 40 44 45 46 26 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 40 44 45 46 26 Private nonguaranteed .. 0 0 53 129 240 425 782 of which: Bonds .. 0 0 0 0 0 7 10 8. Debt stock-flow reconciliation Total change in external debt stocks .. -315 599 292 1,623 3,735 6,698 4,540 Net flows on external debt .. 120 51 1,648 2,827 3,861 4,602 5,218 Cross-currency valuation .. 215 -164 -393 -503 371 1,342 -177 9. Debt restructurings Total amount rescheduled .. 0 0 1,076 8 0 0 0 Total amount forgiven .. 0 0 1,765 54 583 14 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 340 312 307 352 412 450 486 480 Interest 218 221 215 207 196 184 171 156 Private creditors Principal 3,671 2,509 2,157 2,075 1,952 1,797 1,794 1,015 Interest 656 574 472 373 285 198 114 65 Notes: Beginning 2006, the DRS data for Serbia exclude Montenegro. Short-term debt is based on Central Bank data. 241 SEYCHELLES 1. Summary external debt data External debt stocks 185 198 304 444 668 1,091 1,403 1,505 Long-term external debt 139 185 220 345 395 498 620 654 Public and publicly guaranteed 139 185 220 345 395 498 620 654 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 9 Short-term external debt 46 13 84 99 273 593 783 842 interest arrears on long-term 1 2 5 45 57 48 59 78 Memorandum items 9 20 21 99 116 99 110 119 139 185 220 345 395 498 620 654 0 0 0 0 0 0 0 0 22 9 32 13 56 248 122 89 External debt flows Disbursements 13 17 38 38 56 211 151 94 Long-term external debt 13 17 38 38 56 211 151 84 IMF purchases 0 0 0 0 0 0 0 10 Principal repayments 12 16 10 32 41 127 46 57 Long-term external debt 12 16 10 32 41 127 46 57 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 11 -9 71 -13 177 413 284 77 Long-term external debt 1 1 29 6 15 84 105 27 Short-term external debt 10 -10 42 -19 162 329 179 40 Interest payments 9 8 11 8 18 53 64 39 Long-term external debt 5 7 7 5 11 29 28 21 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 4 1 4 2 7 24 36 18 2. Other non-debt resource flows Foreign direct investment (net) 20 46 24 38 86 146 249 364 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 8 14 8 17 20 25 29 0 Grants (excluding technical coop.) 12 7 11 4 4 6 7 8 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 10 9 3 6 6 4 4 5 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 19.3 13.8 12.8 23.1 19.9 Japanese yen 0.0 0.0 2.1 1.5 1.8 1.2 1.0 1.2 Pound sterling 16.6 7.8 6.5 5.4 4.2 3.8 2.8 1.9 Swiss franc 7.1 6.0 4.5 3.9 2.9 2.5 2.0 2.0 U.S.dollars 8.4 14.1 35.6 42.3 55.0 67.5 61.4 66.0 4. Average terms of new commitments Official creditors Interest (%) 4.9 4.3 3.3 0.0 2.0 4.9 5.0 0.0 Maturity (years) 20.3 18.2 12.3 0.0 14.4 14.0 2.2 2.6 Grace period (years) 9.0 4.7 2.4 0.0 4.8 3.8 2.2 2.6 Private creditors Interest (%) 11.5 0.0 4.4 5.3 6.1 9.1 2.9 5.1 Maturity (years) 4.8 0.0 9.2 5.7 6.0 5.1 4.0 2.8 Grace period (years) 0.9 0.0 2.5 0.8 0.9 4.6 1.9 0.4 5. Major economic aggregates Gross national income (GNI) 355 489 583 666 844 924 841 765 Exports of goods, services & income 241 345 495 644 741 874 884 .. Worker remit. & comp. of employees 8 1 .. 7 12 14 11 12 Imports of goods & services 265 350 545 715 935 1,038 1,187 .. International reserves 17 27 44 35 56 113 41 64 Current account balance -13 1 -43 -60 -174 -134 -264 .. 6. Ratios External debt stocks to exports (%) 76.8 57.4 61.4 69.0 90.1 124.9 158.7 .. External debt stocks to GNI (%) 52.0 40.5 52.1 66.7 79.2 118.1 166.8 196.7 Debt service to exports (%) 8.9 6.9 4.2 6.2 7.9 20.6 12.4 .. Short-term to external debt stocks (%) 24.9 6.6 27.7 22.4 40.8 54.3 55.8 55.9 Multilateral to external debt stocks (%) 23.6 31.9 19.0 16.6 10.7 3.9 3.6 3.5 Reserves to external debt stocks (%) 9.0 13.7 14.4 7.8 8.4 10.4 2.9 4.2 Reserves to imports (months) 0.8 0.9 1.0 0.6 0.7 1.3 0.4 .. 242 SEYCHELLES 7. Long-term external debt Debt outstanding and disbursed 139 185 220 345 395 498 620 654 Public and publicly guaranteed 139 185 220 345 395 498 620 654 Official creditors 119 149 159 244 224 205 207 203 Multilateral 44 63 58 74 72 42 51 53 of which: IBRD 6 5 3 3 2 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 76 85 101 171 152 163 157 150 Private creditors 19 36 61 100 172 294 413 450 of which: Bonds 0 0 0 0 0 200 311 305 Commercial banks 16 22 50 52 83 70 82 132 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 13 17 38 38 56 211 151 84 Public and publicly guaranteed 13 17 38 38 56 211 151 84 Official creditors 12 17 19 1 8 6 11 4 Multilateral 3 9 7 1 5 3 11 0 of which: IBRD 1 1 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 8 7 12 0 3 3 0 4 Private creditors 2 0 19 37 48 204 140 80 of which: Bonds 0 0 0 0 0 200 105 0 Commercial banks 1 0 19 37 45 4 35 80 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 12 16 10 32 41 127 46 57 Public and publicly guaranteed 12 16 10 32 41 127 46 57 Official creditors 5 7 5 5 11 45 20 19 Multilateral 3 4 2 0 2 36 4 12 of which: IBRD 1 1 1 0 1 2 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 2 3 3 4 9 9 16 7 Private creditors 8 9 5 27 30 82 26 38 of which: Bonds 0 0 0 0 0 0 0 2 Commercial banks 7 5 2 24 14 17 23 31 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 5 7 7 5 11 29 28 21 Public and publicly guaranteed 5 7 7 5 11 29 28 21 Official creditors 3 5 2 3 3 22 3 4 Multilateral 2 4 1 0 1 20 2 2 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 1 1 1 2 2 2 1 1 Private creditors 2 2 5 2 8 7 25 18 of which: Bonds 0 0 0 0 0 0 19 10 Commercial banks 2 1 4 1 4 2 5 7 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 24 -2 52 8 224 423 312 101 Net flows on external debt 11 -9 71 -13 177 413 284 77 Cross-currency valuation 10 6 -5 7 -12 8 10 -5 9. Debt restructurings Total amount rescheduled 0 0 0 0 26 6 0 4 Total amount forgiven 0 0 0 0 7 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 35 32 15 13 13 12 8 7 Interest 4 3 2 2 2 1 1 1 Private creditors Principal 98 81 248 6 0 0 0 0 Interest 25 23 22 0 0 0 0 0 243 SIERRA LEONE 1. Summary external debt data External debt stocks 1,176.4 1,219.6 1,189.8 1,627.6 1,539.7 1,265.5 312.0 388.8 Long-term external debt 919.9 1,027.7 972.8 1,410.4 1,327.1 1,219.9 270.4 326.6 Public and publicly guaranteed 919.9 1,027.7 972.8 1,410.4 1,327.1 1,219.9 270.4 326.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 108.4 164.9 173.6 195.8 192.1 34.8 36.5 53.2 Short-term external debt 148.1 26.9 43.5 21.5 20.6 10.8 5.1 9.1 interest arrears on long-term 148.1 6.9 36.3 1.5 10.6 10.8 0.1 0.1 Memorandum items 546.9 107.6 66.0 26.9 35.3 38.5 9.0 8.8 587.9 943.6 972.8 1,410.4 1,327.1 1,219.9 270.4 326.6 332.0 84.1 0.0 0.0 0.0 0.0 0.0 0.0 18.2 47.7 65.0 94.2 19.0 10.3 59.5 42.2 External debt flows Disbursements 15.0 114.8 90.3 124.5 71.4 40.2 28.2 80.4 Long-term external debt 15.0 95.0 76.6 83.0 50.7 26.8 28.2 62.4 IMF purchases 0.0 19.8 13.7 41.5 20.7 13.4 0.0 18.0 Principal repayments 12.0 60.1 34.9 10.1 7.3 21.0 5.2 2.4 Long-term external debt 7.4 56.6 9.6 8.9 4.8 16.5 5.2 2.4 IMF repurchases 4.6 3.5 25.2 1.3 2.4 4.5 0.0 0.0 Net flows 3.0 54.7 56.8 122.4 54.2 9.3 28.0 81.9 Long-term external debt 7.6 38.4 66.9 74.2 45.9 10.4 23.0 59.9 Short-term external debt 0.0 0.0 1.4 8.0 -10.0 -10.0 5.0 4.0 Interest payments 9.2 22.0 11.8 11.5 10.3 12.2 4.7 3.2 Long-term external debt 8.9 19.8 8.9 9.7 9.1 11.3 4.5 2.8 IMF charges 0.3 0.8 2.5 0.9 0.9 1.0 0.2 0.2 Short-term external debt 0.0 1.4 0.4 0.9 0.4 0.0 0.1 0.2 2. Other non-debt resource flows Foreign direct investment (net) 32.4 7.3 39.0 61.2 83.2 58.8 96.6 -3.4 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 50.7 11.3 1.8 32.4 41.2 27.3 121.8 76.0 Grants (excluding technical coop.) 29.9 87.1 116.0 293.3 265.3 414.8 1,037.6 248.5 of which: Debt forgiveness grants .. .. 0.2 39.2 19.7 175.7 759.8 0.0 IDA grants .. .. .. 7.3 31.9 29.4 19.3 25.1 Memo: technical coop. grants 27.6 24.4 20.8 36.2 30.2 40.6 50.0 51.4 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.6 12.1 10.5 9.8 7.0 Japanese yen 4.9 7.6 7.1 9.0 8.6 9.3 0.0 0.0 Pound sterling 1.4 0.5 0.6 0.4 0.3 0.4 0.0 0.0 Swiss franc 5.4 2.9 2.2 1.7 1.8 2.1 0.1 0.1 U.S.dollars 54.0 41.0 44.9 47.6 47.8 44.8 42.9 40.2 4. Average terms of new commitments Official creditors Interest (%) 0.1 0.6 0.8 0.8 0.1 0.0 1.2 0.8 Maturity (years) 24.4 32.6 39.8 40.8 47.2 25.3 22.0 36.7 Grace period (years) 10.0 7.8 10.3 8.0 9.9 7.8 5.5 10.3 Private creditors Interest (%) 9.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 579.8 818.5 616.1 1,013.8 1,165.9 1,364.8 1,628.6 1,913.6 Exports of goods, services & income 210.3 152.7 69.6 244.3 269.5 363.9 524.6 .. Worker remit. & comp. of employees .. 24.0 7.0 24.7 2.4 50.0 148.4 150.0 Imports of goods & services 286.6 290.3 262.4 437.8 509.3 489.0 637.2 .. International reserves 5.4 34.6 49.2 125.1 170.5 183.9 216.6 .. Current account balance -69.4 -118.1 -112.3 -99.0 -104.9 -91.5 -181.1 .. 6. Ratios External debt stocks to exports (%) 559.3 798.7 1,709.4 666.3 571.3 347.7 59.5 .. External debt stocks to GNI (%) 202.9 149.0 193.1 160.5 132.1 92.7 19.2 20.3 Debt service to exports (%) 10.0 53.7 67.1 8.8 6.5 9.1 1.9 .. Short-term to external debt stocks (%) 12.6 2.2 3.7 1.3 1.3 0.9 1.6 2.3 Multilateral to external debt stocks (%) 15.4 35.6 48.4 55.4 56.1 67.3 70.3 67.7 Reserves to external debt stocks (%) 0.5 2.8 4.1 7.7 11.1 14.5 69.4 .. Reserves to imports (months) 0.2 1.4 2.3 3.4 4.0 4.5 4.1 .. 244 SIERRA LEONE 7. Long-term external debt Debt outstanding and disbursed 919.9 1,027.7 972.8 1,410.4 1,327.1 1,219.9 270.4 326.6 Public and publicly guaranteed 919.9 1,027.7 972.8 1,410.4 1,327.1 1,219.9 270.4 326.6 Official creditors 488.5 935.5 967.5 1,408.3 1,325.5 1,219.9 270.4 326.6 Multilateral 181.7 433.6 576.0 902.4 863.6 852.1 219.4 263.1 of which: IBRD 10.6 2.9 0.0 0.0 0.0 0.0 0.0 0.0 IDA 81.3 231.3 353.7 590.6 558.6 533.5 83.6 108.4 Bilateral 306.9 501.9 391.5 505.9 461.9 367.8 51.0 63.4 Private creditors 431.4 92.2 5.3 2.1 1.6 0.1 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 16.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 15.0 95.0 76.6 83.0 50.7 26.8 28.2 62.4 Public and publicly guaranteed 15.0 95.0 76.6 83.0 50.7 26.8 28.2 62.4 Official creditors 11.0 95.0 76.6 83.0 50.7 26.8 28.2 62.4 Multilateral 1.3 87.3 74.4 79.4 49.5 25.5 24.3 49.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 44.0 70.1 30.7 18.7 16.3 14.2 25.7 Bilateral 9.6 7.7 2.2 3.7 1.3 1.4 3.9 13.4 Private creditors 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 7.4 56.6 9.6 8.9 4.8 16.5 5.2 2.4 Public and publicly guaranteed 7.4 56.6 9.6 8.9 4.8 16.5 5.2 2.4 Official creditors 7.4 28.2 9.6 8.9 4.8 16.5 5.2 2.4 Multilateral 2.1 3.5 7.5 2.3 1.8 13.7 2.5 1.3 of which: IBRD 0.0 0.5 0.3 0.0 0.0 0.0 0.0 0.0 IDA 0.0 1.6 1.8 0.1 0.2 9.1 0.0 0.0 Bilateral 5.2 24.7 2.2 6.5 3.1 2.8 2.6 1.2 Private creditors 0.0 28.4 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 28.4 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 8.9 19.8 8.9 9.7 9.1 11.3 4.5 2.8 Public and publicly guaranteed 8.9 19.8 8.9 9.7 9.1 11.3 4.5 2.8 Official creditors 3.7 19.8 8.9 9.7 9.1 11.3 4.5 2.8 Multilateral 2.1 2.9 3.5 5.3 5.9 7.4 2.8 2.1 of which: IBRD 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 1.6 2.3 3.2 3.5 4.4 0.6 0.7 Bilateral 1.5 16.9 5.4 4.3 3.1 3.9 1.7 0.8 Private creditors 5.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 98.6 -309.6 -70.8 107.2 -87.9 -274.2 -953.5 76.7 Net flows on external debt 3.0 54.7 56.8 122.4 54.2 9.3 28.0 81.9 Cross-currency valuation 44.0 18.0 -66.3 -18.7 -182.2 -122.7 -530.6 -60.0 9. Debt restructurings Total amount rescheduled 0.0 29.3 0.4 16.5 4.7 4.6 8.8 8.1 Total amount forgiven 0.0 329.4 0.0 49.9 28.2 71.2 958.7 7.0 Debt buyback 0.0 29.4 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 11.6 12.0 12.3 14.1 14.2 16.6 15.5 15.7 Interest 3.5 3.7 3.7 3.7 3.7 3.6 3.4 3.3 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt in 2008 are World Bank staff estimates based on reports provided by the country. Data include the effects of Paris Club debt restructuring agreement signed in 2007. Data for 2007 include the effects of Multilateral Debt Relief Initiative and Enhanced HIPC Initiative, in the amount of $525,649 in thousands. 245 SOLOMON ISLANDS 1. Summary external debt data External debt stocks 120.5 158.7 155.4 177.0 166.4 173.4 176.2 164.8 Long-term external debt 103.2 149.1 152.1 166.3 151.1 157.8 172.9 161.8 Public and publicly guaranteed 103.2 100.3 120.7 155.3 144.1 150.8 147.0 136.1 Private nonguaranteed 0.0 48.8 31.5 11.0 7.0 7.0 25.9 25.8 Use of IMF credit 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 16.6 9.7 3.2 10.8 15.3 15.6 3.3 3.0 interest arrears on long-term 0.1 8.4 1.8 9.8 12.3 13.6 3.3 3.0 Memorandum items 0.2 11.4 3.3 8.8 11.3 13.6 11.9 8.4 103.2 100.3 120.7 155.3 144.1 150.8 147.0 136.1 0.0 48.8 31.5 11.0 7.0 7.0 25.9 25.8 2.5 12.3 4.0 0.0 0.4 0.6 0.0 0.0 External debt flows Disbursements 5.2 11.8 3.4 2.2 5.7 5.1 24.5 1.1 Long-term external debt 5.2 11.8 3.4 2.2 5.7 5.1 24.5 1.1 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 7.9 6.5 6.2 10.4 10.0 2.8 11.6 10.8 Long-term external debt 7.0 6.5 6.2 10.4 10.0 2.8 11.6 10.8 IMF repurchases 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 13.8 4.5 -4.4 -8.6 -2.3 1.2 10.9 -9.7 Long-term external debt -1.8 5.3 -2.9 -8.2 -4.3 2.2 12.9 -9.7 Short-term external debt 16.5 -0.8 -1.5 -0.3 2.0 -1.0 -2.0 0.0 Interest payments 3.7 1.6 2.9 6.2 4.0 1.5 3.3 4.3 Long-term external debt 3.1 1.5 2.7 6.2 3.9 1.3 3.3 4.3 IMF charges 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.5 0.1 0.1 0.0 0.1 0.2 0.1 0.0 2. Other non-debt resource flows Foreign direct investment (net) 10.4 2.0 13.0 6.0 18.6 18.6 67.0 76.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 2.0 6.8 8.3 6.8 5.3 11.0 0.0 0.0 Grants (excluding technical coop.) 20.2 20.6 48.7 25.2 54.2 50.9 40.4 149.2 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 4.3 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.4 Memo: technical coop. grants 19.5 26.0 20.9 96.3 143.3 151.4 207.8 79.9 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.4 7.0 7.5 8.5 6.5 Japanese yen 4.8 3.8 3.4 2.9 2.8 2.6 0.0 0.0 Pound sterling 13.1 6.4 2.9 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 52.0 53.9 67.1 73.6 73.7 73.9 76.0 78.6 4. Average terms of new commitments Official creditors Interest (%) 2.2 3.4 0.8 0.0 0.0 0.0 0.0 0.0 Maturity (years) 17.7 18.9 40.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 11.5 3.6 10.5 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 7.8 0.0 0.0 5.0 0.0 0.0 0.0 Maturity (years) 0.0 10.2 0.0 0.0 5.1 4.0 0.0 0.0 Grace period (years) 0.0 0.7 0.0 0.0 0.0 0.6 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 207.3 320.7 435.5 378.8 415.5 460.9 526.7 639.5 Exports of goods, services & income 97.8 211.3 128.8 129.1 157.6 209.6 .. .. Worker remit. & comp. of employees .. .. 2.0 8.7 7.2 20.4 20.4 20.4 Imports of goods & services 163.6 239.4 176.4 171.0 250.1 325.0 .. .. International reserves 17.6 15.9 32.0 80.6 95.4 104.4 119.1 .. Current account balance -27.8 8.3 -41.0 -18.9 -90.2 -97.3 .. .. 6. Ratios External debt stocks to exports (%) 123.2 75.1 120.6 137.1 105.6 82.8 .. .. External debt stocks to GNI (%) 58.1 49.5 35.7 46.7 40.0 37.6 33.4 25.8 Debt service to exports (%) 11.8 3.8 7.1 12.9 8.9 2.0 .. .. Short-term to external debt stocks (%) 13.8 6.1 2.1 6.1 9.2 9.0 1.9 1.8 Multilateral to external debt stocks (%) 51.0 50.1 64.6 63.2 64.3 65.5 68.5 68.4 Reserves to external debt stocks (%) 14.6 10.0 20.6 45.5 57.4 60.2 67.6 .. Reserves to imports (months) 1.3 0.8 2.2 5.7 4.6 3.9 .. .. 246 SOLOMON ISLANDS 7. Long-term external debt Debt outstanding and disbursed 103.2 149.1 152.1 166.3 151.1 157.8 172.9 161.8 Public and publicly guaranteed 103.2 100.3 120.7 155.3 144.1 150.8 147.0 136.1 Official creditors 89.1 95.1 117.3 151.1 143.7 149.8 146.4 135.6 Multilateral 61.5 79.5 100.4 111.8 106.9 113.6 120.6 112.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 16.6 25.9 38.4 46.8 43.4 44.9 45.8 44.5 Bilateral 27.7 15.6 16.9 39.3 36.8 36.2 25.8 23.0 Private creditors 14.1 5.2 3.4 4.2 0.4 1.0 0.6 0.4 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 10.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 48.8 31.5 11.0 7.0 7.0 25.9 25.8 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 5.2 11.8 3.4 2.2 5.7 5.1 24.5 1.1 Public and publicly guaranteed 5.2 9.1 3.4 2.2 5.7 5.1 4.5 0.1 Official creditors 5.2 4.8 3.4 2.2 5.3 4.4 4.5 0.1 Multilateral 5.2 4.8 1.4 2.2 5.3 4.4 4.5 0.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.5 3.2 0.6 1.3 0.9 0.3 0.0 0.0 Bilateral 0.0 0.0 2.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 4.2 0.0 0.0 0.4 0.6 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 2.8 0.0 0.0 0.0 0.0 20.0 1.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 7.0 6.5 6.2 10.4 10.0 2.8 11.6 10.8 Public and publicly guaranteed 7.0 1.8 2.7 2.6 5.8 2.8 9.2 10.8 Official creditors 3.9 1.3 2.7 2.6 3.2 2.8 8.7 10.7 Multilateral 0.5 0.6 1.1 2.0 2.0 2.1 3.4 7.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.2 0.9 0.8 0.9 1.0 1.0 Bilateral 3.4 0.7 1.6 0.6 1.2 0.6 5.3 2.8 Private creditors 3.1 0.5 0.0 0.0 2.6 0.1 0.4 0.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 4.7 3.5 7.8 4.2 0.0 2.4 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 3.1 1.5 2.7 6.2 3.9 1.3 3.3 4.3 Public and publicly guaranteed 3.1 0.9 0.8 2.2 1.7 1.3 3.3 4.3 Official creditors 1.6 0.8 0.8 2.2 1.7 1.3 3.3 4.3 Multilateral 0.6 0.5 0.7 0.8 0.8 0.8 0.9 2.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.2 0.3 0.4 0.3 0.3 0.3 0.4 Bilateral 1.0 0.3 0.1 1.4 0.9 0.4 2.3 1.5 Private creditors 1.5 0.1 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.6 1.9 4.0 2.3 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 20.5 3.8 -9.6 -0.9 -10.7 7.1 2.7 -11.3 Net flows on external debt 13.8 4.5 -4.4 -8.6 -2.3 1.2 10.9 -9.7 Cross-currency valuation 6.6 -0.5 -7.0 4.5 -8.5 4.3 5.8 -1.1 9. Debt restructurings Total amount rescheduled 0.0 0.0 7.8 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 6.3 0.0 0.0 8.1 0.0 4.9 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6.6 7.1 7.2 7.1 6.7 6.8 6.3 6.3 Interest 2.0 1.9 1.8 1.7 1.6 1.4 1.3 1.2 Private creditors Principal 2.9 2.8 2.7 2.5 2.0 2.0 2.0 1.8 Interest 1.3 1.1 0.9 1.4 0.7 0.6 0.4 0.3 247 SOMALIA 1. Summary external debt data External debt stocks 2,370 2,678 2,562 2,849 2,750 2,838 2,944 2,949 Long-term external debt 1,926 1,961 1,825 1,949 1,882 1,923 1,979 1,983 Public and publicly guaranteed 1,926 1,961 1,825 1,949 1,882 1,923 1,979 1,983 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 159 166 146 174 160 168 177 173 Short-term external debt 285 551 591 726 709 747 788 793 interest arrears on long-term 255 521 569 726 709 747 788 793 Memorandum items 674 1,135 1,241 1,483 1,460 1,523 1,597 1,628 1,926 1,961 1,825 1,949 1,882 1,923 1,979 1,983 0 0 0 0 0 0 0 0 72 0 0 0 0 0 0 0 External debt flows Disbursements 46 0 0 0 0 0 0 0 Long-term external debt 46 0 0 0 0 0 0 0 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 5 0 0 0 0 0 0 0 Long-term external debt 3 0 0 0 0 0 0 0 IMF repurchases 3 0 0 0 0 0 0 0 Net flows 58 0 -7 -33 0 0 0 0 Long-term external debt 43 0 0 0 0 0 0 0 Short-term external debt 18 0 -7 -33 0 0 0 0 Interest payments 5 1 0 0 0 0 0 2 Long-term external debt 4 0 0 0 0 0 0 0 IMF charges 1 1 0 0 0 0 0 2 Short-term external debt 0 0 0 0 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 6 1 0 -5 24 96 141 87 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 323 149 86 191 229 374 378 748 of which: Debt forgiveness grants .. .. 2 1 1 1 1 1 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 94 43 16 10 9 18 7 11 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.2 5.6 6.1 6.6 6.3 Japanese yen 2.4 3.1 3.0 3.1 2.8 2.7 2.8 3.5 Pound sterling 0.2 0.1 0.1 0.2 0.1 0.2 0.2 0.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.5 50.2 52.0 51.2 51.8 51.4 50.6 50.4 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 46.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 10.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 835 .. .. .. .. .. .. .. Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 283.9 .. .. .. .. .. .. .. Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 12.0 20.6 23.1 25.5 25.8 26.3 26.8 26.9 Multilateral to external debt stocks (%) 31.8 29.4 27.7 27.8 27.5 27.4 27.5 27.2 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 248 SOMALIA 7. Long-term external debt Debt outstanding and disbursed 1,926 1,961 1,825 1,949 1,882 1,923 1,979 1,983 Public and publicly guaranteed 1,926 1,961 1,825 1,949 1,882 1,923 1,979 1,983 Official creditors 1,889 1,924 1,792 1,912 1,846 1,886 1,940 1,946 Multilateral 754 786 709 793 755 779 808 803 of which: IBRD 0 0 0 0 0 0 0 0 IDA 419 432 396 444 422 435 448 446 Bilateral 1,136 1,138 1,083 1,119 1,091 1,107 1,132 1,143 Private creditors 37 37 33 37 35 37 38 37 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 46 0 0 0 0 0 0 0 Public and publicly guaranteed 46 0 0 0 0 0 0 0 Official creditors 46 0 0 0 0 0 0 0 Multilateral 46 0 0 0 0 0 0 0 of which: IBRD 0 0 0 0 0 0 0 0 IDA 35 0 0 0 0 0 0 0 Bilateral 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 3 0 0 0 0 0 0 0 Public and publicly guaranteed 3 0 0 0 0 0 0 0 Official creditors 3 0 0 0 0 0 0 0 Multilateral 3 0 0 0 0 0 0 0 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 0 0 0 0 0 0 0 Bilateral 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 4 0 0 0 0 0 0 0 Public and publicly guaranteed 4 0 0 0 0 0 0 0 Official creditors 4 0 0 0 0 0 0 0 Multilateral 4 0 0 0 0 0 0 0 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 0 0 0 0 0 0 0 Bilateral 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 211 62 -44 11 -98 87 106 5 Net flows on external debt 58 0 -7 -33 0 0 0 0 Cross-currency valuation 30 -14 -36 8 -59 37 51 2 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 34 35 34 32 31 32 28 27 Interest 7 7 6 5 5 5 4 4 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on the original terms of the loans. 249 SOUTH AFRICA 1. Summary external debt data External debt stocks .. 25,358 24,861 27,112 31,070 35,523 43,610 41,943 Long-term external debt .. 14,772 15,308 19,203 21,360 20,263 27,052 24,006 Public and publicly guaranteed .. 9,837 9,088 13,793 15,633 13,914 14,101 13,173 Private nonguaranteed .. 4,935 6,220 5,410 5,727 6,349 12,951 10,833 Use of IMF credit 0 913 0 0 0 0 0 0 Short-term external debt .. 9,673 9,553 7,909 9,710 15,260 16,558 17,937 interest arrears on long-term .. 0 0 0 0 0 0 0 Memorandum items .. 0 0 0 0 0 0 0 .. 9,837 8,054 13,633 15,633 13,914 14,101 13,173 .. 4,935 7,254 5,571 5,727 6,349 12,951 10,833 .. 3,225 2,223 2,563 2,270 1,876 1,870 608 External debt flows Disbursements .. 3,549 3,611 3,235 5,641 4,877 8,727 1,263 Long-term external debt .. 3,549 3,611 3,235 5,641 4,877 8,727 1,263 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments .. 2,070 2,609 1,531 2,034 3,831 3,353 2,789 Long-term external debt .. 2,070 2,609 1,531 2,034 3,831 3,353 2,789 IMF repurchases 0 0 0 0 0 0 0 0 Net flows .. 3,412 -260 2,254 5,408 6,597 6,672 -147 Long-term external debt .. 1,478 1,002 1,704 3,607 1,047 5,374 -1,526 Short-term external debt .. 1,934 -1,262 550 1,801 5,550 1,298 1,379 Interest payments .. 1,320 1,252 906 1,198 1,639 1,911 1,765 Long-term external debt .. 855 743 656 846 1,183 1,330 1,248 IMF charges 0 50 0 0 0 0 0 0 Short-term external debt .. 415 509 250 352 456 581 517 2. Other non-debt resource flows Foreign direct investment (net) .. 1,248 969 701 6,522 -184 5,737 9,632 Portfolio equity flows .. 2,914 4,169 6,661 7,230 14,959 8,670 -4,707 Profit remittances on FDI .. 535 2,329 3,256 4,320 4,843 8,009 8,028 Grants (excluding technical coop.) .. 156 218 365 407 336 581 777 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 214 224 238 250 282 168 181 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.3 13.3 30.9 26.7 21.6 Japanese yen .. 3.0 3.8 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 90.6 92.0 85.9 85.0 67.1 71.4 76.6 4. Average terms of new commitments Official creditors Interest (%) .. 0.0 5.9 2.0 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 12.3 12.7 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 4.0 3.8 0.0 0.0 0.0 0.0 Private creditors Interest (%) .. 5.4 6.1 4.1 3.9 6.5 6.8 3.4 Maturity (years) .. 14.3 9.8 6.9 4.2 8.9 10.1 2.8 Grace period (years) .. 1.8 2.3 4.9 2.9 8.9 9.9 0.8 5. Major economic aggregates Gross national income (GNI) .. 148,238 129,702 211,700 237,860 252,594 274,723 267,815 Exports of goods, services & income .. 35,538 39,507 61,177 71,082 82,255 96,363 104,632 Worker remit. & comp. of employees .. 105 344 523 658 734 834 823 Imports of goods & services .. 37,386 38,771 66,423 78,003 95,559 114,191 122,603 International reserves .. 4,464 7,702 14,886 20,624 25,593 32,919 34,070 Current account balance .. -2,493 -191 -7,003 -9,723 -16,121 -20,780 -20,981 6. Ratios External debt stocks to exports (%) .. 71.4 62.9 44.3 43.7 43.2 45.3 40.1 External debt stocks to GNI (%) .. 17.1 19.2 12.8 13.1 14.1 15.9 15.7 Debt service to exports (%) .. 9.5 9.8 4.0 4.5 6.6 5.5 4.4 Short-term to external debt stocks (%) .. 38.1 38.4 29.2 31.3 43.0 38.0 42.8 Multilateral to external debt stocks (%) .. 0.0 0.6 1.0 0.9 0.9 0.7 0.6 Reserves to external debt stocks (%) .. 17.6 31.0 54.9 66.4 72.0 75.5 81.2 Reserves to imports (months) .. 1.4 2.4 2.7 3.2 3.2 3.5 3.3 250 SOUTH AFRICA 7. Long-term external debt Debt outstanding and disbursed .. 14,772 15,308 19,203 21,360 20,263 27,052 24,006 Public and publicly guaranteed .. 9,837 9,088 13,793 15,633 13,914 14,101 13,173 Official creditors .. 0 145 263 286 316 291 259 Multilateral .. 0 145 263 286 316 291 259 of which: IBRD 0 0 3 23 31 29 27 26 IDA 0 0 0 0 0 0 0 0 Bilateral .. 0 0 0 0 0 0 0 Private creditors .. 9,837 8,943 13,530 15,347 13,598 13,810 12,914 of which: Bonds .. 2,454 4,749 7,360 7,132 6,791 7,593 7,429 Commercial banks .. 3,978 1,973 5,081 7,271 6,009 5,563 4,977 Private nonguaranteed .. 4,935 6,220 5,410 5,727 6,349 12,951 10,833 of which: Bonds .. 350 1,110 0 1,307 1,484 6,715 6,017 Disbursements .. 3,549 3,611 3,235 5,641 4,877 8,727 1,263 Public and publicly guaranteed .. 3,199 1,597 1,969 2,678 2,075 1,870 611 Official creditors .. 0 91 49 58 49 0 3 Multilateral .. 0 91 49 58 49 0 3 of which: IBRD 0 0 3 7 9 0 0 3 IDA 0 0 0 0 0 0 0 0 Bilateral .. 0 0 0 0 0 0 0 Private creditors .. 3,199 1,506 1,920 2,620 2,026 1,870 608 of which: Bonds .. 391 765 1,000 0 1,876 1,670 0 Commercial banks .. 830 420 920 2,620 150 200 608 Private nonguaranteed .. 350 2,014 1,266 2,963 2,802 6,857 652 of which: Bonds .. 350 712 0 1,307 0 5,587 0 Principal repayments .. 2,070 2,609 1,531 2,034 3,831 3,353 2,789 Public and publicly guaranteed .. 1,168 1,627 853 1,780 1,729 1,855 1,465 Official creditors .. 0 0 12 27 26 26 26 Multilateral .. 0 0 12 27 26 26 26 of which: IBRD 0 0 0 0 1 2 3 3 IDA 0 0 0 0 0 0 0 0 Bilateral .. 0 0 0 0 0 0 0 Private creditors .. 1,168 1,627 841 1,753 1,703 1,829 1,439 of which: Bonds .. 10 284 370 0 300 1,222 0 Commercial banks .. 719 949 326 1,608 1,257 462 1,294 Private nonguaranteed .. 902 982 678 254 2,102 1,498 1,324 of which: Bonds .. 0 0 0 0 0 1,390 698 Interest payments .. 855 743 656 846 1,183 1,330 1,248 Public and publicly guaranteed .. 597 546 582 635 886 917 817 Official creditors .. 0 1 10 12 15 18 16 Multilateral .. 0 1 10 12 15 18 16 of which: IBRD 0 0 0 1 1 1 1 1 IDA 0 0 0 0 0 0 0 0 Bilateral .. 0 0 0 0 0 0 0 Private creditors .. 597 545 572 623 871 899 801 of which: Bonds .. 188 275 494 347 409 520 523 Commercial banks .. 245 130 7 212 408 333 241 Private nonguaranteed .. 258 196 74 212 297 413 431 of which: Bonds .. 0 27 8 61 89 132 241 8. Debt stock-flow reconciliation Total change in external debt stocks .. 3,687 954 -311 3,958 4,453 8,087 -1,667 Net flows on external debt .. 3,412 -260 2,254 5,408 6,597 6,672 -147 Cross-currency valuation .. 63 -70 135 -228 243 506 -206 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 1,222 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 41 41 38 35 25 22 20 20 Interest 5 4 3 2 2 1 1 1 Private creditors Principal 3,824 3,310 2,056 3,339 3,460 2,774 1,252 1,685 Interest 1,941 1,814 1,671 1,520 1,111 735 471 260 Notes: Data on long-term public and publicly guaranteed, long-term private nonguaranteed, and short-term debt for 2008 are World Bank staff estimates based on aggregate information provided by the authorities. 251 SRI LANKA 1. Summary external debt data External debt stocks 5,863 8,395 9,157 11,085 11,262 11,641 14,003 15,154 Long-term external debt 5,049 7,264 8,312 10,143 9,889 10,542 12,120 12,899 Public and publicly guaranteed 4,947 7,175 7,944 9,847 9,646 10,316 11,861 12,624 Private nonguaranteed 102 90 368 296 243 226 259 275 Use of IMF credit 410 595 161 294 381 244 251 169 Short-term external debt 405 535 685 648 992 855 1,632 2,087 interest arrears on long-term 11 35 112 0 0 0 0 2 Memorandum items 0 42 216 0 0 0 0 0 4,854 7,055 7,836 9,829 9,626 10,302 11,842 12,609 194 210 476 315 262 240 278 290 837 406 448 915 938 1,208 2,140 1,975 External debt flows Disbursements 545 671 735 795 971 946 1,627 1,169 Long-term external debt 485 671 735 795 818 946 1,627 1,169 IMF purchases 61 0 0 0 153 0 0 0 Principal repayments 214 280 541 552 309 693 565 895 Long-term external debt 167 246 455 441 271 539 560 817 IMF repurchases 47 34 86 112 38 154 5 78 Net flows 331 385 -24 269 1,006 116 1,839 727 Long-term external debt 318 425 280 354 548 406 1,067 352 Short-term external debt 0 -6 -218 27 344 -137 777 453 Interest payments 170 172 249 218 147 258 286 334 Long-term external debt 122 145 214 191 99 199 207 270 IMF charges 21 3 1 8 11 13 11 8 Short-term external debt 27 24 34 19 37 46 69 56 2. Other non-debt resource flows Foreign direct investment (net) 43 56 173 233 272 480 603 752 Portfolio equity flows 0 0 0 -100 -216 -304 -322 -488 Profit remittances on FDI 25 72 109 95 115 362 349 470 Grants (excluding technical coop.) 221 175 108 191 627 387 455 520 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 2 41 56 46 46 Memo: technical coop. grants 104 115 78 75 94 111 91 92 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.1 7.8 9.1 9.5 9.1 Japanese yen 22.7 28.6 29.8 30.5 30.3 29.0 26.1 31.4 Pound sterling 3.2 1.8 0.5 0.2 0.1 0.1 0.1 0.1 Swiss franc 0.9 0.4 0.2 0.0 0.0 0.0 0.0 0.0 U.S.dollars 36.2 35.9 38.9 39.6 41.0 41.3 44.4 40.4 4. Average terms of new commitments Official creditors Interest (%) 1.4 3.3 2.4 1.5 1.6 3.0 3.4 2.1 Maturity (years) 36.4 29.7 32.0 31.8 28.1 24.3 23.2 21.0 Grace period (years) 10.1 8.3 8.5 7.9 7.4 7.0 7.0 7.6 Private creditors Interest (%) 8.0 4.8 6.6 1.9 5.4 4.8 7.4 3.1 Maturity (years) 9.9 11.3 10.4 13.1 8.4 7.5 5.9 9.9 Grace period (years) 1.6 1.9 1.3 4.3 3.0 3.3 4.0 3.4 5. Major economic aggregates Gross national income (GNI) 7,974 12,860 16,016 20,458 24,107 27,892 32,004 39,800 Exports of goods, services & income 2,786 5,630 7,670 9,004 9,931 10,980 12,366 13,283 Worker remit. & comp. of employees 401 809 1,166 1,590 1,991 2,185 2,527 2,947 Imports of goods & services 3,224 6,342 8,554 9,468 10,441 12,321 13,575 16,806 International reserves 447 2,112 1,131 2,205 2,736 2,943 3,654 2,711 Current account balance -298 -770 -1,044 -648 -650 -1,498 -1,401 -3,775 6. Ratios External debt stocks to exports (%) 210.4 149.1 119.4 123.1 113.4 106.0 113.2 114.1 External debt stocks to GNI (%) 73.5 65.3 57.2 54.2 46.7 41.7 43.8 38.1 Debt service to exports (%) 13.8 8.0 10.3 8.6 4.6 8.7 6.9 9.3 Short-term to external debt stocks (%) 6.9 6.4 7.5 5.8 8.8 7.3 11.7 13.8 Multilateral to external debt stocks (%) 27.7 34.0 37.3 42.0 40.4 42.5 38.3 36.7 Reserves to external debt stocks (%) 7.6 25.2 12.4 19.9 24.3 25.3 26.1 17.9 Reserves to imports (months) 1.7 4.0 1.6 2.8 3.1 2.9 3.2 1.9 252 SRI LANKA 7. Long-term external debt Debt outstanding and disbursed 5,049 7,264 8,312 10,143 9,889 10,542 12,120 12,899 Public and publicly guaranteed 4,947 7,175 7,944 9,847 9,646 10,316 11,861 12,624 Official creditors 4,349 6,493 6,934 9,205 8,977 9,571 10,358 11,255 Multilateral 1,623 2,858 3,412 4,656 4,554 4,945 5,362 5,559 of which: IBRD 82 49 13 1 0 0 0 0 IDA 864 1,463 1,610 2,167 2,095 2,245 2,357 2,381 Bilateral 2,726 3,635 3,522 4,549 4,423 4,626 4,996 5,695 Private creditors 598 681 1,010 642 669 745 1,503 1,369 of which: Bonds 0 0 65 65 65 65 565 500 Commercial banks 259 324 371 377 434 535 778 675 Private nonguaranteed 102 90 368 296 243 226 259 275 of which: Bonds 0 0 0 100 100 100 100 100 Disbursements 485 671 735 795 818 946 1,627 1,169 Public and publicly guaranteed 485 671 565 695 818 926 1,528 1,080 Official creditors 396 469 348 607 667 761 753 775 Multilateral 234 197 123 257 347 328 266 374 of which: IBRD 1 0 0 0 0 0 0 0 IDA 127 106 47 68 113 100 74 95 Bilateral 162 272 225 350 319 433 487 401 Private creditors 89 201 218 88 152 164 775 305 of which: Bonds 0 0 0 0 0 0 500 0 Commercial banks 59 92 44 58 134 155 268 262 Private nonguaranteed 0 0 169 100 0 20 99 90 of which: Bonds 0 0 0 100 0 0 0 0 Principal repayments 167 246 455 441 271 539 560 817 Public and publicly guaranteed 165 244 441 368 218 502 514 754 Official creditors 88 148 216 296 123 400 450 513 Multilateral 21 26 50 80 84 100 114 146 of which: IBRD 7 7 5 2 1 0 0 0 IDA 3 8 18 38 40 43 49 55 Bilateral 68 122 167 216 40 300 336 367 Private creditors 76 96 224 72 94 102 64 241 of which: Bonds 0 0 50 0 0 0 0 65 Commercial banks 29 54 96 27 62 64 54 161 Private nonguaranteed 2 2 14 72 53 37 47 63 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 122 145 214 191 99 199 207 270 Public and publicly guaranteed 120 144 179 171 84 186 191 253 Official creditors 77 112 125 146 65 156 164 178 Multilateral 19 29 32 40 46 58 57 65 of which: IBRD 8 5 1 0 0 0 0 0 IDA 5 11 12 16 17 17 17 19 Bilateral 58 84 93 106 19 98 107 113 Private creditors 43 32 54 25 19 30 27 75 of which: Bonds 0 0 6 2 4 5 0 46 Commercial banks 16 19 29 14 11 20 25 24 Private nonguaranteed 2 1 35 20 15 13 15 18 of which: Bonds 0 0 0 7 7 7 7 7 8. Debt stock-flow reconciliation Total change in external debt stocks 682 435 -658 644 177 379 2,362 1,151 Net flows on external debt 331 385 -24 269 1,006 116 1,839 727 Cross-currency valuation 296 -42 -579 360 -875 243 514 275 9. Debt restructurings Total amount rescheduled 0 0 0 0 265 0 0 0 Total amount forgiven 0 7 9 0 2 0 1 8 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 605 531 580 662 708 741 763 787 Interest 213 223 225 222 213 201 187 174 Private creditors Principal 360 98 268 618 112 90 91 83 Interest 85 74 68 62 18 15 12 10 Notes: Long-term private nonguaranteed debt data for 2008 are World Bank staff estimates. 253 ST. KITTS AND NEVIS 1. Summary external debt data External debt stocks 44.2 55.4 156.1 314.9 293.1 291.0 272.9 257.7 Long-term external debt 44.2 54.2 153.1 313.5 292.9 290.1 272.4 257.1 Public and publicly guaranteed 44.2 54.2 153.1 313.5 292.9 290.1 272.4 257.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 2.1 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 1.2 0.8 1.4 0.2 0.9 0.5 0.6 interest arrears on long-term 0.0 1.2 0.8 1.4 0.2 0.9 0.5 0.6 Memorandum items 0.0 0.7 0.4 0.9 0.6 0.6 0.1 0.4 40.7 52.9 153.1 313.5 292.9 290.1 272.4 257.1 3.4 1.3 0.0 0.0 0.0 0.0 0.0 0.0 5.5 11.4 32.4 15.7 15.3 16.6 8.4 0.0 External debt flows Disbursements 7.3 5.6 32.1 12.0 7.0 23.5 8.9 13.5 Long-term external debt 7.3 5.6 32.1 12.0 7.0 23.5 8.9 13.5 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.5 4.8 12.4 24.1 26.5 27.2 28.2 28.1 Long-term external debt 1.5 4.8 12.4 24.1 26.5 27.2 28.2 28.1 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 5.8 0.9 19.7 -12.1 -19.6 -3.7 -19.3 -14.7 Long-term external debt 5.8 0.9 19.7 -12.1 -19.6 -3.7 -19.3 -14.7 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.4 1.9 7.2 22.5 20.5 19.3 19.3 16.9 Long-term external debt 1.4 1.9 7.1 22.4 20.5 19.3 19.3 16.9 IMF charges 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 48.8 20.5 96.2 55.8 93.0 110.4 157.5 87.7 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 5.0 14.4 21.2 19.5 20.3 20.2 23.4 25.0 Grants (excluding technical coop.) 2.0 0.8 1.8 0.5 2.4 4.8 5.4 44.7 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 33.5 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 2.2 2.3 0.6 0.5 0.7 0.3 0.5 1.1 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.8 1.4 2.3 2.5 2.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 16.3 7.4 1.5 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 37.8 51.4 79.6 84.0 84.4 84.4 84.0 84.8 4. Average terms of new commitments Official creditors Interest (%) 4.5 3.7 4.8 1.7 2.0 2.5 6.4 0.0 Maturity (years) 38.0 19.1 16.5 21.0 20.4 23.2 19.5 0.0 Grace period (years) 9.0 5.2 4.5 4.8 3.7 3.9 4.8 0.0 Private creditors Interest (%) 2.0 0.0 7.0 0.0 0.0 5.4 0.0 0.0 Maturity (years) 5.8 0.0 9.7 0.0 0.0 19.3 0.0 0.0 Grace period (years) 1.3 0.0 1.1 0.0 0.0 3.4 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 154.5 219.8 299.4 355.6 387.8 461.5 480.7 507.0 Exports of goods, services & income 102.8 143.7 178.8 229.7 267.3 277.5 265.2 .. Worker remit. & comp. of employees 19.0 2.0 4.0 31.3 33.5 36.2 37.3 37.3 Imports of goods & services 140.1 189.9 284.4 288.1 325.9 366.9 399.6 .. International reserves 16.3 33.5 45.2 78.5 71.6 88.7 95.8 110.4 Current account balance -47.0 -45.5 -66.2 -68.4 -64.7 -89.8 -135.4 .. 6. Ratios External debt stocks to exports (%) 43.0 38.5 87.3 137.1 109.6 104.9 102.9 .. External debt stocks to GNI (%) 28.6 25.2 52.1 88.6 75.6 63.0 56.8 50.8 Debt service to exports (%) 2.8 4.6 11.0 20.3 17.6 16.7 17.9 .. Short-term to external debt stocks (%) 0.1 2.2 0.5 0.4 0.1 0.3 0.2 0.2 Multilateral to external debt stocks (%) 45.2 53.4 34.5 31.0 33.8 36.6 39.0 43.5 Reserves to external debt stocks (%) 36.8 60.4 29.0 24.9 24.4 30.5 35.1 42.8 Reserves to imports (months) 1.4 2.1 1.9 3.3 2.6 2.9 2.9 .. 254 ST. KITTS AND NEVIS 7. Long-term external debt Debt outstanding and disbursed 44.2 54.2 153.1 313.5 292.9 290.1 272.4 257.1 Public and publicly guaranteed 44.2 54.2 153.1 313.5 292.9 290.1 272.4 257.1 Official creditors 41.4 48.6 102.7 164.1 157.0 155.8 148.4 146.4 Multilateral 20.0 29.6 53.8 97.6 99.0 106.4 106.4 112.1 of which: IBRD 0.0 1.1 4.5 13.2 13.0 13.2 13.3 13.2 IDA 0.0 1.6 1.4 1.6 1.4 1.4 1.4 1.4 Bilateral 21.5 19.0 48.9 66.5 58.0 49.4 41.9 34.3 Private creditors 2.7 5.6 50.4 149.4 135.9 134.4 124.0 110.7 of which: Bonds 0.0 0.0 0.0 19.1 19.1 19.1 19.1 19.1 Commercial banks 0.0 0.0 43.2 128.5 116.2 115.3 104.9 91.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 7.3 5.6 32.1 12.0 7.0 23.5 8.9 13.5 Public and publicly guaranteed 7.3 5.6 32.1 12.0 7.0 23.5 8.9 13.5 Official creditors 7.3 5.0 7.9 9.3 7.0 11.7 6.0 13.5 Multilateral 2.4 3.8 7.2 8.8 7.0 11.7 5.7 13.5 of which: IBRD 0.0 0.3 1.1 2.1 0.8 1.4 2.4 2.6 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 4.9 1.3 0.7 0.5 0.0 0.0 0.4 0.0 Private creditors 0.0 0.6 24.2 2.7 0.0 11.8 2.8 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 24.2 2.7 0.0 11.8 2.8 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.5 4.8 12.4 24.1 26.5 27.2 28.2 28.1 Public and publicly guaranteed 1.5 4.8 12.4 24.1 26.5 27.2 28.2 28.1 Official creditors 1.1 3.3 4.8 12.3 13.0 13.9 15.0 14.8 Multilateral 0.7 1.5 2.1 4.0 4.4 5.2 6.7 7.3 of which: IBRD 0.0 0.0 0.1 0.7 1.0 1.3 2.2 2.7 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 0.3 1.8 2.7 8.3 8.5 8.7 8.3 7.5 Private creditors 0.4 1.5 7.6 11.7 13.6 13.3 13.2 13.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 4.2 10.2 12.3 12.7 13.2 13.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.4 1.9 7.1 22.4 20.5 19.3 19.3 16.9 Public and publicly guaranteed 1.4 1.9 7.1 22.4 20.5 19.3 19.3 16.9 Official creditors 1.4 1.5 4.1 8.3 7.6 7.7 7.8 6.4 Multilateral 0.7 1.0 2.0 3.3 3.7 4.2 5.0 4.0 of which: IBRD 0.0 0.1 0.3 0.6 0.7 0.7 0.8 0.6 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 0.7 0.5 2.2 5.0 3.9 3.6 2.8 2.4 Private creditors 0.0 0.4 3.0 14.2 12.9 11.5 11.5 10.5 of which: Bonds 0.0 0.0 0.0 1.6 1.6 1.6 1.6 1.6 Commercial banks 0.0 0.0 2.3 12.4 11.1 9.9 9.9 8.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 7.6 -0.8 20.0 -0.3 -21.8 -2.1 -18.1 -15.2 Net flows on external debt 5.8 0.9 19.7 -12.1 -19.6 -3.7 -19.3 -14.7 Cross-currency valuation 1.3 0.1 -0.8 1.5 -1.7 0.7 1.4 -0.6 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 17.4 18.3 18.0 17.6 13.4 10.4 10.0 9.2 Interest 4.4 4.0 3.3 2.7 2.1 1.8 1.5 1.3 Private creditors Principal 14.9 11.6 13.9 18.5 22.6 3.3 2.9 1.8 Interest 7.2 6.0 5.3 3.3 2.3 1.2 1.0 0.8 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country. 255 ST. LUCIA 1. Summary external debt data External debt stocks 79.2 128.3 221.3 351.7 411.0 403.7 470.2 830.6 Long-term external debt 72.1 111.3 153.5 242.6 235.0 286.7 296.9 316.6 Public and publicly guaranteed 72.1 111.3 153.5 242.6 235.0 286.7 296.9 316.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 7.0 16.9 67.8 109.1 176.0 117.0 173.3 514.0 interest arrears on long-term 0.8 0.0 0.0 0.1 0.0 0.0 0.3 0.0 Memorandum items 0.1 0.0 0.0 0.0 0.0 0.0 0.4 0.0 72.1 111.3 153.5 242.6 235.0 286.7 296.9 316.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34.9 50.4 65.3 12.3 8.2 44.4 9.8 5.4 External debt flows Disbursements 8.0 11.5 48.7 28.5 11.7 65.8 24.1 11.0 Long-term external debt 8.0 11.5 48.7 28.5 11.7 65.8 24.1 11.0 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 3.2 6.2 20.9 9.8 14.2 17.8 18.6 24.6 Long-term external debt 3.2 6.2 20.9 9.8 14.2 17.8 18.6 24.6 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 7.0 12.3 40.3 19.7 64.5 -11.1 61.5 327.4 Long-term external debt 4.8 5.4 27.8 18.7 -2.5 47.9 5.5 -13.6 Short-term external debt 2.2 6.9 12.5 1.0 67.0 -59.0 56.0 341.0 Interest payments 3.1 5.7 9.2 13.9 17.5 16.3 18.7 23.2 Long-term external debt 2.8 4.8 6.4 10.2 12.8 12.6 13.2 12.9 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.3 0.9 2.8 3.6 4.8 3.7 5.5 10.3 2. Other non-debt resource flows Foreign direct investment (net) 44.8 32.8 53.7 76.5 78.2 233.9 253.4 104.7 Portfolio equity flows 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 26.5 35.3 33.4 48.9 51.1 34.0 45.1 43.8 Grants (excluding technical coop.) 3.1 42.8 10.3 3.3 4.9 4.2 9.1 15.4 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.3 0.0 0.0 IDA grants .. .. .. 0.0 0.3 1.4 0.0 0.0 Memo: technical coop. grants 3.5 4.7 4.4 2.1 2.5 4.1 3.7 5.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.9 3.8 2.7 2.1 1.0 Japanese yen 4.0 2.4 0.3 0.0 0.0 0.0 0.0 0.0 Pound sterling 40.3 13.7 2.1 0.5 0.2 0.0 0.0 0.0 Swiss franc 1.1 0.5 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 32.8 53.4 55.0 69.9 71.4 59.3 59.6 63.6 4. Average terms of new commitments Official creditors Interest (%) 4.3 4.7 6.0 1.7 2.5 0.0 0.8 0.8 Maturity (years) 24.1 24.8 22.7 23.4 24.9 0.0 34.6 34.3 Grace period (years) 8.2 7.1 5.5 7.3 7.8 0.0 10.1 9.8 Private creditors Interest (%) 0.0 0.0 8.7 0.0 0.0 7.2 0.0 0.0 Maturity (years) 0.0 0.0 13.2 0.0 0.0 10.3 0.0 0.0 Grace period (years) 0.0 0.0 13.2 0.0 0.0 10.3 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 369.2 521.2 614.4 722.3 803.2 835.2 887.2 937.6 Exports of goods, services & income 301.2 406.4 404.3 495.8 534.2 469.0 482.2 .. Worker remit. & comp. of employees 16.0 2.0 3.0 28.7 29.5 30.3 31.1 31.1 Imports of goods & services 352.1 440.0 494.2 570.9 670.4 755.9 785.4 .. International reserves 44.6 63.1 78.8 132.5 116.4 134.5 153.7 142.8 Current account balance -57.0 -35.7 -94.8 -87.4 -150.1 -302.7 -319.7 .. 6. Ratios External debt stocks to exports (%) 26.3 31.6 54.7 70.9 76.9 86.1 97.5 .. External debt stocks to GNI (%) 21.4 24.6 36.0 48.7 51.2 48.3 53.0 88.6 Debt service to exports (%) 2.1 2.9 7.4 4.8 5.9 7.3 7.7 .. Short-term to external debt stocks (%) 8.9 13.2 30.6 31.0 42.8 29.0 36.9 61.9 Multilateral to external debt stocks (%) 53.3 61.6 45.0 40.7 34.2 37.5 34.6 23.4 Reserves to external debt stocks (%) 56.3 49.2 35.6 37.7 28.3 33.3 32.7 17.2 Reserves to imports (months) 1.5 1.7 1.9 2.8 2.1 2.1 2.3 .. 256 ST. LUCIA 7. Long-term external debt Debt outstanding and disbursed 72.1 111.3 153.5 242.6 235.0 286.7 296.9 316.6 Public and publicly guaranteed 72.1 111.3 153.5 242.6 235.0 286.7 296.9 316.6 Official creditors 69.5 111.3 120.7 163.9 160.9 174.3 190.5 219.3 Multilateral 42.2 79.0 99.5 143.2 140.5 151.4 162.9 194.6 of which: IBRD 0.0 2.1 6.0 10.5 10.3 10.0 17.8 18.2 IDA 0.0 7.9 11.6 26.1 27.2 40.7 46.2 49.2 Bilateral 27.3 32.3 21.3 20.7 20.4 23.0 27.6 24.8 Private creditors 2.6 0.0 32.8 78.7 74.0 112.4 106.4 97.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 44.4 44.4 44.4 Commercial banks 2.6 0.0 32.8 78.7 74.0 68.0 61.9 52.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 8.0 11.5 48.7 28.5 11.7 65.8 24.1 11.0 Public and publicly guaranteed 8.0 11.5 48.7 28.5 11.7 65.8 24.1 11.0 Official creditors 8.0 11.5 16.8 28.5 11.7 21.3 24.1 11.0 Multilateral 6.9 10.8 15.7 25.7 7.4 17.2 18.2 8.3 of which: IBRD 0.0 0.7 0.9 1.2 1.1 0.7 9.6 2.6 IDA 0.0 2.1 0.7 1.9 3.5 12.2 4.1 3.9 Bilateral 1.1 0.8 1.1 2.7 4.4 4.1 5.9 2.7 Private creditors 0.0 0.0 31.9 0.0 0.0 44.4 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 44.4 0.0 0.0 Commercial banks 0.0 0.0 31.9 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 3.2 6.2 20.9 9.8 14.2 17.8 18.6 24.6 Public and publicly guaranteed 3.2 6.2 20.9 9.8 14.2 17.8 18.6 24.6 Official creditors 2.4 6.2 11.7 9.5 9.5 11.8 12.6 15.4 Multilateral 2.4 4.2 6.6 6.9 7.0 8.4 9.0 11.0 of which: IBRD 0.0 0.1 0.5 1.0 1.0 1.1 1.8 2.3 IDA 0.0 0.0 0.1 0.1 0.3 0.4 0.4 0.4 Bilateral 0.0 2.0 5.1 2.5 2.5 3.4 3.6 4.4 Private creditors 0.8 0.0 9.2 0.4 4.7 6.0 6.0 9.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.8 0.0 9.2 0.4 4.7 6.0 6.0 9.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.8 4.8 6.4 10.2 12.8 12.6 13.2 12.9 Public and publicly guaranteed 2.8 4.8 6.4 10.2 12.8 12.6 13.2 12.9 Official creditors 2.6 4.8 5.2 4.7 6.3 6.0 5.7 6.3 Multilateral 1.8 3.0 4.0 3.9 5.4 5.1 4.7 5.3 of which: IBRD 0.0 0.1 0.3 0.5 0.5 0.5 0.7 0.9 IDA 0.0 0.0 0.1 0.2 0.2 0.3 0.3 0.4 Bilateral 0.8 1.8 1.2 0.8 0.9 0.9 1.1 1.0 Private creditors 0.2 0.0 1.2 5.5 6.5 6.5 7.5 6.6 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.5 2.0 2.4 Commercial banks 0.2 0.0 1.2 5.5 6.5 6.0 5.5 4.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 13.5 14.7 37.0 22.6 59.3 -7.2 66.4 360.4 Net flows on external debt 7.0 12.3 40.3 19.7 64.5 -11.1 61.5 327.4 Cross-currency valuation 5.8 2.2 -3.2 3.3 -5.0 2.8 3.1 -1.0 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 66.3 Total amount forgiven 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 16.4 18.6 17.3 15.0 14.5 13.8 13.2 13.1 Interest 4.4 4.1 3.7 3.3 3.0 2.7 2.4 2.1 Private creditors Principal 5.9 5.9 5.9 5.9 2.7 1.1 24.6 45.2 Interest 7.5 7.1 6.6 6.1 5.7 5.5 4.4 1.5 257 ST. VINCENT AND THE GRENADINES 1. Summary external debt data External debt stocks 62.4 118.3 194.6 226.6 250.6 241.0 199.3 207.1 Long-term external debt 60.3 91.3 163.3 223.0 246.3 241.0 198.4 206.2 Public and publicly guaranteed 60.3 91.3 163.3 223.0 246.3 241.0 198.4 206.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 2.1 27.0 31.4 3.6 4.2 0.0 1.0 0.9 interest arrears on long-term 0.1 0.1 0.4 3.6 4.2 0.0 1.0 0.9 Memorandum items 0.1 0.6 0.9 3.0 3.0 0.3 0.3 0.3 60.3 91.3 163.3 223.0 246.3 241.0 198.4 206.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.0 12.6 1.0 46.7 66.4 0.0 0.7 16.0 External debt flows Disbursements 7.2 3.3 8.5 39.9 42.4 14.2 15.4 27.4 Long-term external debt 7.2 3.3 8.5 39.9 42.4 14.2 15.4 27.4 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.4 4.5 6.1 12.9 15.5 22.1 18.3 19.1 Long-term external debt 2.4 4.5 6.1 12.9 15.5 22.1 18.3 19.1 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 5.2 3.0 1.6 27.1 26.9 -8.0 -2.9 8.3 Long-term external debt 4.8 -1.2 2.4 27.1 26.9 -8.0 -2.9 8.3 Short-term external debt 0.4 4.2 -0.8 0.0 0.0 0.0 0.0 0.0 Interest payments 1.9 4.1 7.0 6.4 8.2 11.2 9.5 8.9 Long-term external debt 1.7 2.6 5.1 6.4 8.2 11.2 9.5 8.9 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 1.5 1.9 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 7.7 30.6 37.7 65.7 40.1 109.1 109.8 119.3 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 13.3 11.1 12.7 24.9 22.1 23.0 19.6 18.9 Grants (excluding technical coop.) 3.4 46.0 3.6 9.1 4.9 4.0 62.9 23.9 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.5 41.9 0.0 IDA grants .. .. .. 0.0 0.3 0.9 0.7 0.0 Memo: technical coop. grants 2.4 2.7 1.2 1.9 1.7 2.1 1.2 2.1 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.0 5.4 5.9 7.6 6.2 Japanese yen 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 4.5 5.4 2.9 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.2 1.4 0.3 0.1 0.0 0.0 0.0 0.0 U.S.dollars 65.9 68.2 82.2 68.7 74.3 75.5 71.7 76.0 4. Average terms of new commitments Official creditors Interest (%) 4.0 3.5 2.5 2.2 4.7 0.0 0.8 0.0 Maturity (years) 20.7 19.9 30.1 20.3 18.4 0.0 34.8 0.0 Grace period (years) 4.9 4.2 10.3 6.0 4.6 0.0 10.3 0.0 Private creditors Interest (%) 0.0 0.0 0.0 7.0 7.0 0.0 0.0 8.5 Maturity (years) 0.0 0.0 0.0 9.9 10.0 0.0 0.0 10.0 Grace period (years) 0.0 0.0 0.0 1.3 0.5 0.0 0.0 0.5 5. Major economic aggregates Gross national income (GNI) 187.3 254.8 316.9 386.3 408.5 473.7 532.2 568.8 Exports of goods, services & income 148.7 155.5 201.7 210.2 230.3 247.5 269.0 .. Worker remit. & comp. of employees 16.0 2.0 3.0 25.5 26.5 29.7 30.5 30.5 Imports of goods & services 167.9 190.0 222.8 305.6 326.4 365.9 415.4 .. International reserves 26.5 29.8 55.2 75.0 69.5 78.7 87.0 83.7 Current account balance -23.6 -40.2 -23.9 -102.1 -99.4 -120.1 -149.0 .. 6. Ratios External debt stocks to exports (%) 41.9 76.1 96.5 107.8 108.8 97.4 74.1 .. External debt stocks to GNI (%) 33.3 46.4 61.4 58.7 61.3 50.9 37.5 36.4 Debt service to exports (%) 2.9 5.5 6.5 9.2 10.3 13.5 10.3 .. Short-term to external debt stocks (%) 3.4 22.8 16.1 1.6 1.7 0.0 0.5 0.4 Multilateral to external debt stocks (%) 79.1 49.3 34.0 34.7 33.1 38.8 53.1 53.9 Reserves to external debt stocks (%) 42.5 25.2 28.4 33.1 27.7 32.7 43.6 40.4 Reserves to imports (months) 1.9 1.9 3.0 2.9 2.6 2.6 2.5 .. 258 ST. VINCENT AND THE GRENADINES 7. Long-term external debt Debt outstanding and disbursed 60.3 91.3 163.3 223.0 246.3 241.0 198.4 206.2 Public and publicly guaranteed 60.3 91.3 163.3 223.0 246.3 241.0 198.4 206.2 Official creditors 60.2 86.5 104.8 112.3 113.3 122.6 133.7 135.6 Multilateral 49.4 58.4 66.2 78.7 82.9 93.5 105.9 111.6 of which: IBRD 0.0 0.4 0.1 0.9 0.9 3.4 3.2 3.0 IDA 6.2 8.1 7.0 13.3 15.3 16.5 18.2 19.3 Bilateral 10.9 28.2 38.6 33.6 30.4 29.1 27.7 24.0 Private creditors 0.0 4.8 58.5 110.7 133.0 118.4 64.7 70.6 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 4.8 0.6 30.2 59.9 53.5 47.2 56.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 7.2 3.3 8.5 39.9 42.4 14.2 15.4 27.4 Public and publicly guaranteed 7.2 3.3 8.5 39.9 42.4 14.2 15.4 27.4 Official creditors 7.2 3.3 8.5 10.1 12.4 14.2 15.4 11.4 Multilateral 6.6 1.7 5.7 5.6 11.5 13.7 15.4 11.3 of which: IBRD 0.0 0.0 0.0 0.4 0.0 2.5 0.0 0.1 IDA 0.9 0.0 0.0 1.4 3.3 0.8 1.3 1.6 Bilateral 0.6 1.5 2.8 4.5 0.8 0.4 0.0 0.1 Private creditors 0.0 0.1 0.0 29.8 30.0 0.0 0.0 16.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.1 0.0 29.8 30.0 0.0 0.0 16.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.4 4.5 6.1 12.9 15.5 22.1 18.3 19.1 Public and publicly guaranteed 2.4 4.5 6.1 12.9 15.5 22.1 18.3 19.1 Official creditors 2.4 4.5 5.7 7.5 7.7 7.5 7.0 9.0 Multilateral 2.2 3.4 3.7 5.1 4.9 4.8 4.3 5.6 of which: IBRD 0.0 0.1 0.0 0.0 0.0 0.0 0.2 0.3 IDA 0.0 0.1 0.1 0.2 0.3 0.3 0.3 0.3 Bilateral 0.2 1.1 2.0 2.4 2.8 2.7 2.7 3.3 Private creditors 0.0 0.0 0.4 5.3 7.7 14.6 11.3 10.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.4 0.1 0.2 6.4 6.3 7.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.7 2.6 5.1 6.4 8.2 11.2 9.5 8.9 Public and publicly guaranteed 1.7 2.6 5.1 6.4 8.2 11.2 9.5 8.9 Official creditors 1.7 2.4 3.3 3.6 3.5 3.7 3.6 3.8 Multilateral 1.5 1.7 2.1 2.6 2.4 2.8 2.8 2.8 of which: IBRD 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.2 IDA 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Bilateral 0.3 0.7 1.2 1.0 1.0 1.0 0.8 0.9 Private creditors 0.0 0.3 1.8 2.8 4.7 7.5 5.9 5.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.3 0.1 0.0 2.1 4.1 3.7 3.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 9.6 4.1 1.3 29.3 24.0 -9.6 -41.7 7.8 Net flows on external debt 5.2 3.0 1.6 27.1 26.9 -8.0 -2.9 8.3 Cross-currency valuation 1.3 0.9 -1.8 1.9 -3.4 2.5 2.8 -1.1 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.8 0.0 0.0 0.0 0.0 0.0 42.9 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 15.3 15.1 14.2 14.0 13.7 11.4 10.4 10.4 Interest 4.1 3.8 3.5 3.1 2.7 2.4 2.1 1.8 Private creditors Principal 11.0 11.0 11.0 11.0 10.4 7.5 4.6 1.6 Interest 4.8 4.1 3.3 2.5 1.8 1.1 0.6 0.3 Notes: Data on long-term public and publicly guaranteed debt are World Bank staff estimates based on reports provided by the country. Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2006, 2007, and 2008 are $590 millions, $576 millions, and $447 millions respectively. 259 SUDAN 1. Summary external debt data External debt stocks 14,762 17,603 16,009 18,199 17,390 18,220 19,123 19,633 Long-term external debt 9,651 10,275 10,639 11,557 11,085 11,659 12,331 12,599 Public and publicly guaranteed 9,155 9,779 10,143 11,557 11,085 11,659 12,331 12,599 Private nonguaranteed 496 496 496 0 0 0 0 0 Use of IMF credit 956 960 625 593 518 518 482 406 Short-term external debt 4,155 6,368 4,745 6,049 5,788 6,043 6,309 6,628 interest arrears on long-term 3,705 5,737 4,474 5,647 5,377 5,707 6,035 6,150 Memorandum items 5,703 7,637 7,291 8,141 7,753 8,117 8,342 8,320 9,651 10,275 10,639 11,557 11,085 11,659 12,331 12,599 0 0 0 0 0 0 0 0 35 0 343 554 186 593 285 1,193 External debt flows Disbursements 185 51 861 323 369 461 674 659 Long-term external debt 185 51 861 323 369 461 674 659 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 16 54 197 235 319 265 280 302 Long-term external debt 15 15 143 204 291 238 220 236 IMF repurchases 1 39 54 31 28 27 60 66 Net flows 169 0 625 357 58 121 332 561 Long-term external debt 170 36 718 119 78 223 454 422 Short-term external debt 0 3 -39 269 9 -75 -62 204 Interest payments 34 15 48 90 79 64 91 86 Long-term external debt 9 2 42 79 67 54 83 71 IMF charges 0 13 0 0 0 0 0 0 Short-term external debt 25 0 5 11 12 10 8 15 2. Other non-debt resource flows Foreign direct investment (net) -31 12 392 1,511 2,305 3,534 2,426 2,601 Portfolio equity flows 0 0 0 0 0 -35 -17 0 Profit remittances on FDI 0 0 0 1,122 1,399 2,093 2,404 2,971 Grants (excluding technical coop.) 433 149 176 898 1,665 1,773 1,940 2,123 of which: Debt forgiveness grants .. .. 3 4 3 3 3 2 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 184 77 28 81 124 203 86 136 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.9 8.0 8.4 8.8 8.2 Japanese yen 2.3 2.9 2.0 1.9 1.3 1.3 0.8 0.9 Pound sterling 4.3 3.4 3.3 3.3 3.1 3.2 3.1 2.4 Swiss franc 18.6 19.6 12.2 15.5 13.9 14.3 14.6 15.2 U.S.dollars 48.1 47.6 60.3 52.4 54.0 52.2 50.4 48.6 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 1.7 3.4 2.8 3.9 2.2 2.6 Maturity (years) 49.9 0.0 24.8 15.2 19.5 13.2 19.8 23.6 Grace period (years) 10.4 0.0 4.7 4.8 5.6 4.0 5.5 5.7 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 11,409 12,920 11,303 19,990 25,397 33,503 41,682 52,386 Exports of goods, services & income 573 1,029 2,477 5,245 5,996 7,170 11,214 15,307 Worker remit. & comp. of employees 62 346 641 1,403 1,016 1,179 1,769 3,100 Imports of goods & services 1,025 1,243 2,594 5,785 9,196 12,008 13,098 13,905 International reserves 11 163 138 1,338 1,869 1,660 1,378 1,399 Current account balance -372 -500 -518 -818 -2,768 -4,811 -3,268 -1,314 6. Ratios External debt stocks to exports (%) 2,574.9 1,710.6 646.3 347.0 290.0 254.1 170.5 128.3 External debt stocks to GNI (%) 129.4 136.3 141.6 91.0 68.5 54.4 45.9 37.5 Debt service to exports (%) 8.7 6.7 9.9 6.2 6.6 4.6 3.3 2.5 Short-term to external debt stocks (%) 28.1 36.2 29.6 33.2 33.3 33.2 33.0 33.8 Multilateral to external debt stocks (%) 11.7 12.1 12.3 13.9 14.4 14.9 15.7 15.9 Reserves to external debt stocks (%) 0.1 0.9 0.9 7.4 10.7 9.1 7.2 7.1 Reserves to imports (months) 0.1 1.6 0.6 2.8 2.4 1.7 1.3 1.2 260 SUDAN 7. Long-term external debt Debt outstanding and disbursed 9,651 10,275 10,639 11,557 11,085 11,659 12,331 12,599 Public and publicly guaranteed 9,155 9,779 10,143 11,557 11,085 11,659 12,331 12,599 Official creditors 7,500 7,921 8,386 9,276 8,997 9,459 9,999 10,168 Multilateral 1,723 2,133 1,968 2,527 2,510 2,716 2,994 3,120 of which: IBRD 19 6 1 0 0 0 0 0 IDA 1,028 1,272 1,167 1,300 1,234 1,271 1,307 1,300 Bilateral 5,777 5,787 6,418 6,749 6,487 6,743 7,004 7,047 Private creditors 1,655 1,859 1,758 2,281 2,087 2,200 2,333 2,431 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1,651 1,855 1,296 1,820 1,584 1,696 1,829 1,928 Private nonguaranteed 496 496 496 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 185 51 861 323 369 461 674 659 Public and publicly guaranteed 185 51 861 323 369 461 674 659 Official creditors 185 51 318 323 369 461 674 659 Multilateral 185 51 171 71 124 150 212 177 of which: IBRD 0 0 0 0 0 0 0 0 IDA 121 0 0 0 0 0 0 0 Bilateral 0 0 146 251 245 312 462 482 Private creditors 0 0 543 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 87 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 15 15 143 204 291 238 220 236 Public and publicly guaranteed 15 15 143 204 291 238 220 236 Official creditors 15 15 143 204 291 238 220 236 Multilateral 15 15 32 31 27 15 37 29 of which: IBRD 10 0 2 0 0 0 0 0 IDA 4 0 2 2 1 2 0 1 Bilateral 0 0 111 173 264 223 183 208 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 9 2 42 79 67 54 83 71 Public and publicly guaranteed 9 2 42 79 67 54 83 71 Official creditors 9 2 41 79 67 54 83 71 Multilateral 9 2 16 20 23 12 40 35 of which: IBRD 2 0 0 0 0 0 0 0 IDA 6 0 2 2 1 1 0 2 Bilateral 0 0 26 59 43 41 43 36 Private creditors 0 0 1 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,403 685 -123 1,039 -808 830 902 510 Net flows on external debt 169 0 625 357 58 121 332 561 Cross-currency valuation 518 274 -223 335 -580 347 418 -50 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 15 0 52 6 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 422 483 495 481 463 468 390 316 Interest 136 136 127 115 103 90 76 65 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt exclude penalty interest. 261 SWAZILAND 1. Summary external debt data External debt stocks 256.8 249.5 264.8 411.9 431.2 402.9 392.2 362.3 Long-term external debt 252.2 238.3 262.9 353.8 351.1 353.8 356.7 347.6 Public and publicly guaranteed 252.2 238.3 262.9 353.8 351.1 353.8 356.7 347.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 4.6 11.1 1.8 58.1 80.1 49.1 35.5 14.8 interest arrears on long-term 0.1 0.5 0.0 14.1 15.1 18.1 5.5 14.8 Memorandum items 0.2 4.0 0.2 0.4 7.1 11.0 6.6 11.5 252.2 238.3 262.9 353.8 351.1 353.8 356.7 347.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29.0 0.7 80.0 0.0 6.6 0.0 0.1 External debt flows Disbursements 13.6 8.1 15.8 33.7 51.1 22.9 12.4 56.6 Long-term external debt 13.6 8.1 15.8 33.7 51.1 22.9 12.4 56.6 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 34.6 13.5 12.4 26.7 17.7 17.3 23.4 28.7 Long-term external debt 34.2 13.5 12.4 26.7 17.7 17.3 23.4 28.7 IMF repurchases 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows -37.6 -1.1 -47.5 50.8 54.4 -28.4 -12.1 -2.2 Long-term external debt -20.6 -5.4 3.4 7.0 33.4 5.6 -11.1 27.9 Short-term external debt -16.7 4.3 -50.9 43.7 21.0 -34.0 -1.0 -30.0 Interest payments 9.7 4.6 18.2 17.2 16.2 17.9 24.5 19.1 Long-term external debt 9.2 4.1 16.1 16.4 13.4 14.8 23.1 18.8 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.4 0.4 2.1 0.8 2.8 3.1 1.4 0.4 2. Other non-debt resource flows Foreign direct investment (net) 30.1 51.8 91.4 69.6 -45.9 121.0 37.5 10.0 Portfolio equity flows -2.2 0.8 1.4 0.3 0.8 5.5 1.0 0.0 Profit remittances on FDI 85.4 68.0 65.9 87.4 44.0 167.0 160.0 0.0 Grants (excluding technical coop.) 20.1 18.9 9.9 26.5 38.8 25.2 46.3 66.3 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 27.3 28.1 9.4 4.3 5.6 5.2 4.9 5.2 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 14.9 12.0 12.1 12.4 19.6 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 10.3 4.6 1.0 0.3 0.2 0.2 0.1 0.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 11.3 8.2 10.4 14.1 13.7 12.8 11.7 11.0 4. Average terms of new commitments Official creditors Interest (%) 0.0 7.1 3.0 1.6 0.0 2.5 0.0 2.8 Maturity (years) 0.0 19.5 40.2 19.8 0.0 21.8 0.0 41.4 Grace period (years) 0.0 5.0 27.2 4.4 0.0 4.3 0.0 10.8 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1174.0 1779.5 1523.8 2284.1 2702.3 2683.7 2957.3 2662.2 Exports of goods, services & income 819.6 1182.2 1376.4 2184.4 2191.7 2189.1 2481.8 .. Worker remit. & comp. of employees 113.0 83.0 74.0 82.8 95.4 98.6 100.5 100.5 Imports of goods & services 870.4 1355.9 1522.9 2217.8 2390.5 2515.9 2739.8 0.0 International reserves 216.5 298.2 351.8 323.6 243.9 372.5 774.2 751.9 Current account balance 50.7 -29.7 -45.9 71.3 -102.6 -196.6 -65.5 .. 6. Ratios External debt stocks to exports (%) 31.3 21.1 19.2 18.9 19.7 18.4 15.8 .. External debt stocks to GNI (%) 21.9 14.0 17.4 18.0 16.0 15.0 13.3 13.6 Debt service to exports (%) 5.4 1.5 2.2 2.0 1.5 1.6 1.9 .. Short-term to external debt stocks (%) 1.8 4.5 0.7 14.1 18.6 12.2 9.0 4.1 Multilateral to external debt stocks (%) 45.3 48.2 56.6 56.1 52.9 58.1 61.1 64.2 Reserves to external debt stocks (%) 84.3 119.5 132.9 78.6 56.6 92.5 197.4 207.5 Reserves to imports (months) 3.0 2.6 2.8 1.8 1.2 1.8 3.4 .. 262 SWAZILAND 7. Long-term external debt Debt outstanding and disbursed 252.2 238.3 262.9 353.8 351.1 353.8 356.7 347.6 Public and publicly guaranteed 252.2 238.3 262.9 353.8 351.1 353.8 356.7 347.6 Official creditors 245.4 238.1 243.1 327.2 327.4 332.3 334.7 331.4 Multilateral 116.2 120.3 149.9 230.9 228.0 234.0 239.6 232.7 of which: IBRD 36.9 19.2 9.0 23.7 23.6 22.4 20.1 14.2 IDA 6.8 5.9 4.7 3.7 3.4 3.2 2.9 2.7 Bilateral 129.2 117.8 93.2 96.3 99.4 98.3 95.1 98.7 Private creditors 6.8 0.3 19.8 26.6 23.7 21.5 22.0 16.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 19.8 26.6 23.7 21.5 22.0 16.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 13.6 8.1 15.8 33.7 51.1 22.9 12.4 56.6 Public and publicly guaranteed 13.6 8.1 15.8 33.7 51.1 22.9 12.4 56.6 Official creditors 13.6 8.1 15.8 33.7 51.1 22.9 12.4 56.6 Multilateral 8.2 7.2 15.8 29.0 32.0 19.3 11.9 39.6 of which: IBRD 1.0 0.0 0.7 10.2 1.5 0.0 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 5.5 1.0 0.0 4.8 19.2 3.7 0.5 17.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 34.2 13.5 12.4 26.7 17.7 17.3 23.4 28.7 Public and publicly guaranteed 34.2 13.5 12.4 26.7 17.7 17.3 23.4 28.7 Official creditors 32.3 13.2 12.4 26.7 17.7 17.3 23.4 28.7 Multilateral 26.8 8.2 8.1 13.0 12.2 13.0 14.7 21.9 of which: IBRD 20.4 3.5 0.9 1.4 1.5 1.2 2.3 5.9 IDA 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.2 Bilateral 5.5 5.0 4.3 13.7 5.5 4.3 8.7 6.9 Private creditors 1.9 0.3 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 9.2 4.1 16.1 16.4 13.4 14.8 23.1 18.8 Public and publicly guaranteed 9.2 4.1 16.1 16.4 13.4 14.8 23.1 18.8 Official creditors 8.4 4.1 10.2 13.2 10.2 11.8 20.2 16.3 Multilateral 6.5 3.1 5.2 9.1 8.8 10.4 12.4 13.0 of which: IBRD 3.6 1.2 0.8 0.7 1.0 1.0 1.0 0.8 IDA 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 1.9 0.9 5.0 4.1 1.4 1.4 7.9 3.3 Private creditors 0.8 0.1 5.9 3.1 3.2 3.0 2.9 2.5 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 5.9 3.1 3.2 3.0 2.9 2.5 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks -14.5 8.8 -68.0 44.3 19.3 -28.3 -10.8 -29.9 Net flows on external debt -37.6 -1.1 -47.5 50.8 54.4 -28.4 -12.1 -2.2 Cross-currency valuation 14.1 8.5 -15.1 20.8 -18.9 -4.0 4.6 -11.6 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 31.1 29.3 32.0 30.6 29.1 27.1 24.5 20.6 Interest 12.9 12.2 11.4 10.2 8.8 7.6 6.5 5.5 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 Notes: Data on long-term public and publicly guaranteed debt in 2008 are World Bank staff estimates based on reports provided by the country. 263 TAJIKISTAN 1. Summary external debt data External debt stocks .. 634 1,034 1,041 1,065 1,016 1,152 1,466 Long-term external debt .. 590 846 836 855 879 1,105 1,410 Public and publicly guaranteed .. 590 755 807 829 842 1,065 1,357 Private nonguaranteed .. 0 91 29 26 37 40 53 Use of IMF credit .. 0 111 122 127 44 46 15 Short-term external debt .. 43 77 83 84 93 0 41 interest arrears on long-term .. 43 45 0 2 0 0 0 Memorandum items .. 142 121 17 23 1 0 0 .. 590 755 800 824 840 1,065 1,357 .. 0 91 36 31 39 40 53 .. 0 53 82 87 640 136 87 External debt flows Disbursements .. 28 62 129 137 164 266 384 Long-term external debt .. 28 37 100 108 149 266 384 IMF purchases .. 0 25 29 29 14 0 0 Principal repayments .. 0 37 74 56 40 41 106 Long-term external debt .. 0 28 62 42 40 41 75 IMF repurchases .. 0 10 12 14 0 0 31 Net flows .. 28 -4 59 80 135 131 319 Long-term external debt .. 28 9 38 66 109 224 309 Short-term external debt .. 0 -29 4 -1 11 -93 41 Interest payments .. 0 25 25 14 28 23 29 Long-term external debt .. 0 21 22 11 23 20 28 IMF charges .. 0 2 1 1 0 0 0 Short-term external debt .. 0 2 2 3 4 3 1 2. Other non-debt resource flows Foreign direct investment (net) .. 10 24 272 54 339 360 376 Portfolio equity flows .. 0 0 0 0 0 0 0 Profit remittances on FDI .. 0 0 1 2 46 26 4 Grants (excluding technical coop.) .. 54 50 91 107 219 137 195 of which: Debt forgiveness grants .. .. 0 0 0 102 0 0 IDA grants .. .. .. 0 2 18 21 21 Memo: technical coop. grants .. 12 14 50 55 50 36 60 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.5 6.1 5.3 3.9 2.9 Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 97.0 97.9 86.0 86.4 85.7 86.3 86.4 4. Average terms of new commitments Official creditors Interest (%) .. 0.0 3.8 1.5 0.7 2.0 1.5 1.8 Maturity (years) .. 0.0 26.4 29.6 29.5 20.7 31.9 29.9 Grace period (years) .. 0.0 6.7 6.8 7.8 5.3 8.4 7.7 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.2 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 36.2 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 21.2 5. Major economic aggregates Gross national income (GNI) .. 1,183 781 2,000 2,236 2,712 3,602 5,023 Exports of goods, services & income .. .. .. 1,474 1,729 2,673 3,413 4,313 Worker remit. & comp. of employees .. .. .. 252 467 1,019 1,691 2,544 Imports of goods & services .. .. .. 1,504 1,733 2,425 3,780 4,227 International reserves .. .. 94 172 189 204 .. .. Current account balance .. .. .. -57 -19 -21 -495 48 6. Ratios External debt stocks to exports (%) .. .. .. 70.7 61.6 38.0 33.7 34.0 External debt stocks to GNI (%) .. 53.6 132.3 52.1 47.7 37.5 32.0 29.2 Debt service to exports (%) .. .. .. 6.7 4.1 2.5 1.9 3.1 Short-term to external debt stocks (%) .. 6.8 7.5 8.0 7.9 9.2 0.0 2.8 Multilateral to external debt stocks (%) .. 0.0 18.0 47.5 48.7 59.2 57.9 49.4 Reserves to external debt stocks (%) .. .. 9.1 16.5 17.7 20.1 .. .. Reserves to imports (months) .. .. .. 1.4 1.3 1.0 .. .. 264 TAJIKISTAN 7. Long-term external debt Debt outstanding and disbursed .. 590 846 836 855 879 1,105 1,410 Public and publicly guaranteed .. 590 755 807 829 842 1,065 1,357 Official creditors .. 522 704 796 820 840 1,065 1,357 Multilateral .. 0 186 495 519 602 667 724 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 143 296 308 339 360 365 Bilateral .. 522 518 302 301 238 398 633 Private creditors .. 68 51 11 8 3 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 68 51 0 0 0 0 0 Private nonguaranteed .. 0 91 29 26 37 40 53 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 28 37 100 108 149 266 384 Public and publicly guaranteed .. 28 36 96 105 133 250 353 Official creditors .. 28 36 96 105 133 250 353 Multilateral .. 0 36 87 73 64 52 68 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 23 55 35 16 8 10 Bilateral .. 28 0 9 32 69 198 285 Private creditors .. 0 0 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 1 4 3 16 16 31 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 28 62 42 40 41 75 Public and publicly guaranteed .. 0 15 36 37 34 29 61 Official creditors .. 0 15 35 37 30 29 61 Multilateral .. 0 0 2 14 11 12 10 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 0 0 0 1 2 Bilateral .. 0 15 34 22 19 17 51 Private creditors .. 0 0 1 0 3 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 12 26 5 6 12 15 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 0 21 22 11 23 20 28 Public and publicly guaranteed .. 0 7 20 9 22 18 26 Official creditors .. 0 4 19 9 20 18 26 Multilateral .. 0 1 5 6 13 11 13 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 1 2 2 3 3 3 Bilateral .. 0 3 15 3 7 7 13 Private creditors .. 0 4 0 0 2 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 4 0 0 0 0 0 Private nonguaranteed .. 0 14 2 1 2 2 3 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 53 -241 -110 24 -49 135 314 Net flows on external debt .. 28 -4 59 80 135 131 319 Cross-currency valuation .. -4 -12 26 -50 32 27 -1 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 2 255 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 43 45 65 82 86 86 80 76 Interest 22 23 23 23 21 20 19 18 Private creditors Principal 11 16 11 10 3 1 1 1 Interest 2 1 1 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt in 2008 are World Bank staff estimates based on reports provided by the country. Long-term private nonguaranteed debt data are World Bank staff estimates. Tajikistan was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 265 TANZANIA 1. Summary external debt data External debt stocks 6,446 7,364 7,136 8,557 8,335 4,028 4,974 5,938 Long-term external debt 5,786 6,203 5,964 7,011 6,998 3,026 3,916 4,599 Public and publicly guaranteed 5,786 6,203 5,964 6,519 6,438 2,443 3,172 3,710 Private nonguaranteed 0 0 0 492 560 583 744 889 Use of IMF credit 140 197 324 423 342 13 18 17 Short-term external debt 520 963 848 1,124 995 989 1,040 1,322 interest arrears on long-term 404 904 646 795 604 583 603 739 Memorandum items 826 1,494 692 703 647 397 421 1,101 5,728 6,106 5,912 6,519 6,437 2,443 3,172 3,710 58 98 52 492 560 583 744 889 697 141 391 589 617 840 858 824 External debt flows Disbursements 325 261 262 441 475 577 654 523 Long-term external debt 296 261 209 433 466 573 649 523 IMF purchases 29 0 53 8 8 4 4 0 Principal repayments 118 141 104 64 77 59 20 22 Long-term external debt 89 122 94 39 31 59 20 22 IMF repurchases 28 19 10 25 46 0 0 0 Net flows 224 98 202 549 459 533 665 647 Long-term external debt 207 139 115 393 435 514 630 501 Short-term external debt 16 -22 44 172 62 15 31 146 Interest payments 62 85 63 55 54 52 44 42 Long-term external debt 47 80 51 46 44 40 26 27 IMF charges 6 1 2 2 1 0 0 0 Short-term external debt 9 4 10 7 9 12 19 15 2. Other non-debt resource flows Foreign direct investment (net) 0 120 463 331 494 597 647 744 Portfolio equity flows 0 0 0 2 3 3 3 3 Profit remittances on FDI 0 2 13 58 66 66 68 68 Grants (excluding technical coop.) 677 451 745 1,353 1,033 5,252 2,053 1,658 of which: Debt forgiveness grants .. .. 235 292 68 4,171 644 2 IDA grants .. .. .. 143 13 14 31 28 Memo: technical coop. grants 208 265 150 174 176 208 101 140 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.7 2.8 7.4 6.4 5.5 Japanese yen 8.5 10.9 7.9 7.8 7.0 5.0 4.0 4.3 Pound sterling 11.7 10.2 8.9 5.0 4.8 0.7 0.1 0.1 Swiss franc 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 35.7 38.8 52.0 57.3 54.1 46.3 40.1 41.1 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.7 0.9 0.8 1.2 0.8 0.7 0.7 Maturity (years) 35.4 22.3 38.2 39.8 37.1 41.0 41.3 42.5 Grace period (years) 9.4 7.4 9.8 9.9 9.3 10.1 10.1 10.3 Private creditors Interest (%) 2.5 1.9 0.0 3.0 0.0 0.0 4.7 0.0 Maturity (years) 13.3 3.7 1.0 12.0 0.0 0.0 11.1 0.0 Grace period (years) 6.8 1.6 1.0 2.5 0.0 0.0 1.6 0.0 5. Major economic aggregates Gross national income (GNI) 4,072 5,131 8,959 11,153 14,002 14,097 16,129 19,876 Exports of goods, services & income 544 1,297 1,341 2,703 3,038 3,535 4,218 5,336 Worker remit. & comp. of employees .. 1 8 11 18 15 14 19 Imports of goods & services 1,665 2,281 2,230 3,653 4,390 5,258 6,441 8,251 International reserves 193 270 974 2,296 2,049 2,259 2,886 2,893 Current account balance -559 -590 -499 -367 -864 -1,143 -1,580 -2,307 6. Ratios External debt stocks to exports (%) 1,184.3 567.8 532.1 316.6 274.3 113.9 117.9 111.3 External debt stocks to GNI (%) 158.3 143.5 79.7 76.7 59.5 28.6 30.8 29.9 Debt service to exports (%) 32.9 17.4 12.4 4.4 4.3 3.1 1.5 1.2 Short-term to external debt stocks (%) 8.1 13.1 11.9 13.1 11.9 24.6 20.9 22.3 Multilateral to external debt stocks (%) 30.6 37.9 45.8 56.6 58.4 36.9 43.9 45.1 Reserves to external debt stocks (%) 3.0 3.7 13.7 26.8 24.6 56.1 58.0 48.7 Reserves to imports (months) 1.4 1.4 5.2 7.5 5.6 5.2 5.4 4.2 266 TANZANIA 7. Long-term external debt Debt outstanding and disbursed 5,786 6,203 5,964 7,011 6,998 3,026 3,916 4,599 Public and publicly guaranteed 5,786 6,203 5,964 6,519 6,438 2,443 3,172 3,710 Official creditors 5,299 5,798 5,775 6,437 6,341 2,358 3,079 3,621 Multilateral 1,976 2,791 3,267 4,839 4,869 1,484 2,182 2,677 of which: IBRD 243 87 11 0 0 0 0 0 IDA 1,250 2,182 2,593 3,916 3,861 1,056 1,585 1,971 Bilateral 3,324 3,008 2,507 1,597 1,472 873 897 945 Private creditors 487 405 190 82 97 86 93 89 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 83 74 81 45 61 49 55 52 Private nonguaranteed 0 0 0 492 560 583 744 889 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 296 261 209 433 466 573 649 523 Public and publicly guaranteed 296 261 209 433 466 573 649 523 Official creditors 280 220 204 427 447 560 646 523 Multilateral 200 187 185 427 444 494 627 523 of which: IBRD 0 0 0 0 0 0 0 0 IDA 186 160 142 343 275 416 475 394 Bilateral 80 33 19 0 3 66 19 0 Private creditors 17 40 5 5 19 13 3 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 4 5 5 5 19 13 3 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 89 122 94 39 31 59 20 22 Public and publicly guaranteed 89 122 94 39 31 59 20 13 Official creditors 77 100 77 39 31 57 19 13 Multilateral 45 78 29 29 26 51 13 13 of which: IBRD 26 34 4 3 0 0 0 0 IDA 6 12 9 13 15 31 1 1 Bilateral 33 21 47 10 5 6 6 0 Private creditors 12 22 17 0 0 2 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 2 1 0 Private nonguaranteed 0 0 0 0 0 0 0 9 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 47 80 51 46 44 40 26 27 Public and publicly guaranteed 47 80 51 44 42 38 23 21 Official creditors 44 77 49 44 42 36 22 21 Multilateral 27 56 23 37 38 29 17 21 of which: IBRD 17 8 1 0 0 0 0 0 IDA 8 16 15 28 30 20 10 13 Bilateral 17 20 26 7 4 7 6 0 Private creditors 3 3 2 0 0 2 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 2 1 0 Private nonguaranteed 0 0 0 2 2 2 2 6 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 602 144 -719 1,304 -222 -4,307 946 964 Net flows on external debt 224 98 202 549 459 533 665 647 Cross-currency valuation 118 -136 -286 151 -420 -3,925 114 45 9. Debt restructurings Total amount rescheduled 183 0 342 0 0 0 0 0 Total amount forgiven 113 140 572 88 285 4,858 13 14 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 92 81 82 88 73 78 91 117 Interest 36 39 40 40 41 40 40 39 Private creditors Principal 35 55 57 48 45 39 27 17 Interest 21 42 42 36 28 21 16 12 Notes: Data on long-term private nonguaranteed debt are World Bank staff estimates from 2004 to 2007. Data on long-term private nonguaranteed debt for 2008 are reported by Central Bank for the first time. Tanzania was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 267 THAILAND 1. Summary external debt data External debt stocks 28,094 100,039 79,720 52,722 52,749 56,271 61,738 64,798 Long-term external debt 19,771 55,944 61,778 41,234 36,735 38,459 40,098 40,588 Public and publicly guaranteed 12,460 16,826 29,463 16,738 14,966 12,953 11,001 12,167 Private nonguaranteed 7,311 39,117 32,316 24,496 21,769 25,507 29,097 28,421 Use of IMF credit 1 0 3,062 0 0 0 0 0 Short-term external debt 8,322 44,095 14,880 11,488 16,014 17,812 21,640 24,210 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 12,460 16,826 29,463 16,738 14,966 12,953 11,001 12,167 7,311 39,117 32,316 24,496 21,769 25,507 29,097 28,421 1,755 2,930 1,337 1,400 2,059 502 290 524 External debt flows Disbursements 4,569 10,715 4,031 10,143 16,433 13,855 17,955 13,097 Long-term external debt 4,569 10,715 4,031 10,143 16,433 13,855 17,955 13,097 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 3,264 4,398 9,142 10,858 16,561 12,832 13,562 14,671 Long-term external debt 2,983 4,398 8,945 10,858 16,561 12,832 13,562 14,671 IMF repurchases 281 0 198 0 0 0 0 0 Net flows 3,515 21,233 -13,649 -183 4,398 2,821 8,222 995 Long-term external debt 1,586 6,317 -4,913 -715 -128 1,023 4,393 -1,575 Short-term external debt 2,210 14,916 -8,538 532 4,526 1,798 3,828 2,570 Interest payments 2,026 4,189 4,849 1,677 1,635 1,933 1,760 1,885 Long-term external debt 1,355 2,646 3,776 1,293 1,132 1,172 971 1,312 IMF charges 21 0 168 0 0 0 0 0 Short-term external debt 650 1,543 905 384 503 761 789 573 2. Other non-debt resource flows Foreign direct investment (net) 2,444 2,068 3,366 5,860 8,055 9,453 11,233 9,835 Portfolio equity flows 440 2,253 901 1,319 5,121 5,242 4,264 -4,594 Profit remittances on FDI 312 0 0 4,223 4,501 4,031 5,921 5,921 Grants (excluding technical coop.) 193 99 36 85 111 118 154 147 of which: Debt forgiveness grants .. .. 0 0 0 0 2 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 230 267 197 158 152 202 126 105 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.3 1.9 1.9 2.3 1.7 Japanese yen 42.7 47.7 46.3 59.0 52.5 55.3 57.4 57.6 Pound sterling 0.4 0.2 0.1 0.1 0.1 0.1 0.0 0.0 Swiss franc 5.7 0.9 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 15.8 27.2 46.3 36.6 44.0 41.9 39.4 40.0 4. Average terms of new commitments Official creditors Interest (%) 4.4 4.4 1.5 0.0 1.1 2.2 0.0 0.0 Maturity (years) 25.6 23.5 38.1 0.0 14.7 39.8 0.0 0.0 Grace period (years) 7.8 6.4 8.2 0.0 4.7 6.8 0.0 0.0 Private creditors Interest (%) 5.8 6.6 1.5 2.8 4.2 5.4 5.4 1.5 Maturity (years) 15.2 8.9 7.3 5.0 9.5 5.5 1.6 6.8 Grace period (years) 5.9 4.3 3.5 5.0 7.7 1.9 9.9 7.0 5. Major economic aggregates Gross national income (GNI) 84,272 165,160 120,809 154,104 167,799 178,155 195,517 202,608 Exports of goods, services & income 31,289 74,093 85,997 117,263 133,171 157,417 187,415 215,945 Worker remit. & comp. of employees 973 1,695 1,697 1,622 1,187 1,333 1,635 1,898 Imports of goods & services 38,783 88,161 77,269 116,635 143,821 158,468 177,313 220,824 International reserves 14,258 36,939 32,665 49,847 52,076 67,008 87,472 111,009 Current account balance -7,281 -13,582 9,313 2,759 -7,647 2,316 14,040 -113 6. Ratios External debt stocks to exports (%) 89.8 135.0 92.7 45.0 39.6 35.7 32.9 30.0 External debt stocks to GNI (%) 33.3 60.6 66.0 34.2 31.4 31.6 31.6 32.0 Debt service to exports (%) 16.9 11.6 16.3 10.7 13.7 9.4 8.2 7.7 Short-term to external debt stocks (%) 29.6 44.1 18.7 21.8 30.4 31.7 35.1 37.4 Multilateral to external debt stocks (%) 13.2 3.2 6.7 2.5 1.6 1.1 0.5 0.4 Reserves to external debt stocks (%) 50.8 36.9 41.0 94.5 98.7 119.1 141.7 171.3 Reserves to imports (months) 4.4 5.0 5.1 5.1 4.3 5.1 5.9 6.0 268 THAILAND 7. Long-term external debt Debt outstanding and disbursed 19,771 55,944 61,778 41,234 36,735 38,459 40,098 40,588 Public and publicly guaranteed 12,460 16,826 29,463 16,738 14,966 12,953 11,001 12,167 Official creditors 8,283 11,187 20,820 10,727 7,862 7,132 6,227 7,401 Multilateral 3,716 3,206 5,330 1,310 819 632 288 271 of which: IBRD 2,421 1,805 2,940 483 386 336 63 65 IDA 109 102 90 76 73 69 66 62 Bilateral 4,567 7,981 15,489 9,416 7,043 6,500 5,940 7,130 Private creditors 4,177 5,639 8,643 6,011 7,104 5,821 4,774 4,766 of which: Bonds 738 1,574 2,630 3,557 4,236 3,046 2,566 1,944 Commercial banks 2,126 3,045 5,116 2,079 2,377 2,367 1,888 2,575 Private nonguaranteed 7,311 39,117 32,316 24,496 21,769 25,507 29,097 28,421 of which: Bonds 40 7,375 8,414 3,997 4,385 3,535 3,281 3,181 Disbursements 4,569 10,715 4,031 10,143 16,433 13,855 17,955 13,097 Public and publicly guaranteed 1,277 2,758 3,031 3,229 2,171 1,056 390 1,646 Official creditors 886 1,417 2,156 473 434 556 99 122 Multilateral 263 358 751 57 43 36 2 2 of which: IBRD 174 146 456 33 30 31 2 2 IDA 0 0 0 0 0 0 0 0 Bilateral 624 1,059 1,405 416 391 519 97 120 Private creditors 391 1,341 876 2,756 1,736 500 290 1,524 of which: Bonds 0 242 0 1,400 936 200 290 524 Commercial banks 110 1,088 455 1,356 600 300 0 1,000 Private nonguaranteed 3,292 7,956 1,000 6,913 14,262 12,799 17,566 11,451 of which: Bonds 0 2,080 0 0 1,300 735 475 0 Principal repayments 2,983 4,398 8,945 10,858 16,561 12,832 13,562 14,671 Public and publicly guaranteed 2,393 1,888 3,010 4,233 2,806 2,798 2,074 1,976 Official creditors 788 925 1,666 3,123 2,321 1,210 1,274 364 Multilateral 438 360 753 1,770 528 224 351 24 of which: IBRD 207 201 181 1,648 128 81 275 0 IDA 1 2 3 3 3 3 3 3 Bilateral 349 566 912 1,352 1,793 986 923 340 Private creditors 1,605 962 1,344 1,110 485 1,588 801 1,611 of which: Bonds 87 199 174 163 172 1,308 219 1,202 Commercial banks 1,324 430 1,072 902 261 179 483 312 Private nonguaranteed 591 2,510 5,935 6,625 13,755 10,034 11,488 12,696 of which: Bonds 0 0 1,044 640 908 1,585 729 100 Interest payments 1,355 2,646 3,776 1,293 1,132 1,172 971 1,312 Public and publicly guaranteed 874 874 1,577 759 495 514 409 477 Official creditors 442 521 1,008 469 234 186 151 126 Multilateral 284 218 350 259 54 36 26 10 of which: IBRD 188 135 178 219 29 21 16 3 IDA 1 1 1 1 1 1 1 0 Bilateral 158 302 658 209 180 151 125 117 Private creditors 432 353 569 291 261 327 258 350 of which: Bonds 46 97 193 212 158 188 125 117 Commercial banks 227 195 353 69 87 122 119 222 Private nonguaranteed 481 1,772 2,199 534 637 658 562 836 of which: Bonds 2 222 476 220 286 268 275 244 8. Debt stock-flow reconciliation Total change in external debt stocks 4,606 34,505 -17,050 795 27 3,522 5,467 3,059 Net flows on external debt 3,515 21,233 -13,649 -183 4,398 2,821 8,222 995 Cross-currency valuation 1,024 -182 -1,966 351 -1,219 -29 347 1,600 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 438 506 508 429 418 402 398 395 Interest 128 119 108 99 90 82 74 67 Private creditors Principal 7,574 5,824 4,865 3,439 2,824 2,229 2,001 1,449 Interest 1,236 951 733 586 448 326 197 127 Notes: Data on long-term public and publicly guaranteed debt and short-term debt for 2008 are World Bank staff estimates based on government statistics. Data on long- term private nonguaranteed for 2008 are World Bank staff estimates based on reports provided by the country. 269 TOGO 1. Summary external debt data External debt stocks 1,281 1,476 1,430 1,834 1,683 1,795 1,980 1,573 Long-term external debt 1,081 1,286 1,228 1,608 1,449 1,558 1,662 1,433 Public and publicly guaranteed 1,081 1,286 1,228 1,608 1,449 1,558 1,662 1,433 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 87 105 70 27 14 8 2 48 Short-term external debt 113 85 132 199 221 229 316 92 interest arrears on long-term 1 27 63 173 169 210 240 8 Memorandum items 3 64 62 311 309 366 433 36 1,081 1,286 1,228 1,608 1,449 1,558 1,662 1,433 0 0 0 0 0 0 0 0 115 69 0 15 26 51 20 0 External debt flows Disbursements 110 59 24 10 15 53 3 51 Long-term external debt 89 26 24 10 15 53 3 2 IMF purchases 21 33 0 0 0 0 0 49 Principal repayments 43 18 19 19 19 22 11 142 Long-term external debt 27 7 10 3 8 16 4 141 IMF repurchases 16 11 9 16 11 6 7 2 Net flows 16 39 -44 -25 22 -3 49 -83 Long-term external debt 62 19 14 7 7 37 -1 -139 Short-term external debt -51 -2 -49 -16 26 -33 57 8 Interest payments 43 11 10 3 2 4 4 54 Long-term external debt 33 8 5 1 0 2 2 51 IMF charges 4 1 0 0 0 0 0 0 Short-term external debt 6 3 5 1 1 2 2 3 2. Other non-debt resource flows Foreign direct investment (net) 18 26 42 57 77 77 49 68 Portfolio equity flows 4 0 6 15 16 10 6 0 Profit remittances on FDI 15 1 17 37 47 55 44 0 Grants (excluding technical coop.) 120 123 49 45 57 59 99 374 of which: Debt forgiveness grants .. .. 12 8 7 7 7 111 IDA grants .. .. .. 0 0 0 0 166 Memo: technical coop. grants 60 32 23 33 33 31 34 33 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 19.0 18.3 19.0 19.8 11.4 Japanese yen 3.0 3.3 6.2 5.0 4.9 4.6 4.5 4.2 Pound sterling 1.9 1.7 1.6 1.2 1.2 1.2 1.2 0.1 Swiss franc 10.3 10.9 7.8 9.6 9.2 9.2 9.4 4.7 U.S.dollars 44.2 47.4 52.6 48.0 49.7 48.2 47.0 60.0 4. Average terms of new commitments Official creditors Interest (%) 0.7 0.7 0.0 2.1 1.7 1.3 1.0 0.0 Maturity (years) 39.5 37.6 0.0 25.4 25.8 20.9 20.1 0.0 Grace period (years) 10.4 9.9 0.0 6.5 6.2 5.0 0.6 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,598 1,265 1,300 2,033 2,073 2,180 2,455 2,806 Exports of goods, services & income 723 489 472 943 1,021 1,082 1,226 .. Worker remit. & comp. of employees 27 15 34 179 193 232 284 284 Imports of goods & services 912 713 664 1,165 1,249 1,299 1,469 .. International reserves 358 130 152 360 195 375 438 580 Current account balance -84 -122 -140 -206 -205 -177 -216 .. 6. Ratios External debt stocks to exports (%) 177.2 302.1 302.7 194.4 164.9 166.0 161.4 .. External debt stocks to GNI (%) 80.1 116.7 110.0 90.2 81.2 82.4 80.6 56.1 Debt service to exports (%) 11.9 6.0 6.3 2.3 2.0 2.4 1.2 .. Short-term to external debt stocks (%) 8.8 5.8 9.3 10.9 13.1 12.8 16.0 5.9 Multilateral to external debt stocks (%) 43.7 48.3 53.6 52.3 52.6 53.1 50.8 54.6 Reserves to external debt stocks (%) 28.0 8.8 10.7 19.6 11.6 20.9 22.1 36.9 Reserves to imports (months) 4.7 2.2 2.8 3.7 1.9 3.5 3.6 .. 270 TOGO 7. Long-term external debt Debt outstanding and disbursed 1,081 1,286 1,228 1,608 1,449 1,558 1,662 1,433 Public and publicly guaranteed 1,081 1,286 1,228 1,608 1,449 1,558 1,662 1,433 Official creditors 1,029 1,235 1,228 1,608 1,449 1,558 1,662 1,433 Multilateral 560 713 766 959 886 953 1,005 859 of which: IBRD 5 0 0 0 0 0 0 0 IDA 393 541 604 715 667 696 723 604 Bilateral 469 522 461 649 563 605 656 574 Private creditors 52 52 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 51 52 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 89 26 24 10 15 53 3 2 Public and publicly guaranteed 89 26 24 10 15 53 3 2 Official creditors 89 26 24 10 15 53 3 2 Multilateral 45 26 21 10 15 30 3 1 of which: IBRD 0 0 0 0 0 0 0 0 IDA 31 20 15 0 0 0 0 0 Bilateral 44 0 4 0 0 23 0 0 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 27 7 10 3 8 16 4 141 Public and publicly guaranteed 27 7 10 3 8 16 4 141 Official creditors 27 7 10 3 8 16 4 141 Multilateral 17 6 9 1 1 2 3 140 of which: IBRD 8 0 0 0 0 0 0 0 IDA 1 3 5 0 0 0 0 117 Bilateral 10 1 2 2 7 14 2 1 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 33 8 5 1 0 2 2 51 Public and publicly guaranteed 33 8 5 1 0 2 2 51 Official creditors 28 8 5 1 0 2 2 51 Multilateral 8 5 5 1 0 0 1 51 of which: IBRD 1 0 0 0 0 0 0 0 IDA 3 4 3 0 0 0 0 40 Bilateral 20 3 0 1 0 1 1 0 Private creditors 5 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 104 20 -94 121 -150 112 184 -406 Net flows on external debt 16 39 -44 -25 22 -3 49 -83 Cross-currency valuation 42 -20 -66 71 -138 76 91 0 9. Debt restructurings Total amount rescheduled 79 133 0 0 0 0 0 221 Total amount forgiven 18 107 0 0 0 0 0 326 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 54 55 57 60 63 68 67 66 Interest 25 24 23 22 21 20 18 17 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt include the effects of Paris Club debt restructuring agreement signed in 2008. 271 TONGA 1. Summary external debt data External debt stocks 44.5 62.8 65.2 84.9 79.6 81.6 86.4 90.3 Long-term external debt 44.5 62.8 65.0 84.2 79.5 81.5 86.4 90.3 Public and publicly guaranteed 44.5 62.8 65.0 84.2 79.5 81.5 86.4 90.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.2 0.7 0.1 0.1 0.0 0.0 interest arrears on long-term 0.0 0.0 0.2 0.7 0.1 0.1 0.0 0.0 Memorandum items 0.0 0.0 0.4 2.0 0.6 1.3 1.5 1.0 44.5 62.8 65.0 84.2 79.5 81.5 86.4 90.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.7 12.0 0.0 0.0 1.0 0.0 57.9 0.0 External debt flows Disbursements 3.3 6.2 5.4 1.2 4.5 2.8 4.5 8.5 Long-term external debt 3.3 6.2 5.4 1.2 4.5 2.8 4.5 8.5 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.0 2.4 3.7 3.3 3.7 3.3 3.6 3.7 Long-term external debt 1.0 2.4 3.7 3.3 3.7 3.3 3.6 3.7 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 2.2 3.8 1.8 -2.1 0.9 -0.5 0.9 4.8 Long-term external debt 2.2 3.8 1.8 -2.1 0.9 -0.5 0.9 4.8 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 0.5 0.7 0.9 0.9 1.2 0.8 1.1 1.7 Long-term external debt 0.5 0.7 0.9 0.9 1.2 0.8 1.1 1.7 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 0.2 2.0 4.7 6.9 12.3 11.6 27.4 6.0 Portfolio equity flows -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.3 0.0 0.0 5.5 1.4 1.2 0.0 0.0 Grants (excluding technical coop.) 16.9 18.3 6.9 6.2 16.8 6.9 16.4 11.9 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 10.9 16.4 11.2 14.6 13.5 14.0 13.2 14.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.0 7.3 5.8 3.7 1.9 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 6.0 1.6 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 1.0 10.7 4.8 22.0 28.0 31.2 35.1 33.3 4. Average terms of new commitments Official creditors Interest (%) 0.9 4.5 0.0 0.0 0.8 0.0 2.0 0.0 Maturity (years) 39.7 35.9 0.0 0.0 39.9 0.0 20.8 0.0 Grace period (years) 10.2 8.9 0.0 0.0 10.4 0.0 5.8 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 116.5 169.3 155.1 200.5 210.8 242.7 261.8 267.6 Exports of goods, services & income 66.5 .. .. 115.1 126.0 120.7 148.8 .. Worker remit. & comp. of employees 24.0 .. .. 67.6 66.0 72.0 99.5 99.5 Imports of goods & services 75.0 .. .. 145.1 152.4 147.7 183.3 .. International reserves 31.3 28.7 24.6 55.3 46.9 48.0 65.2 69.8 Current account balance 5.8 .. .. -15.2 -13.7 -15.4 -24.2 .. 6. Ratios External debt stocks to exports (%) 66.9 .. .. 73.8 63.2 67.6 58.1 .. External debt stocks to GNI (%) 38.2 37.1 42.1 42.4 37.8 33.6 33.0 33.8 Debt service to exports (%) 2.3 .. .. 3.7 3.9 3.4 3.1 .. Short-term to external debt stocks (%) 0.0 0.0 0.4 0.9 0.1 0.2 0.0 0.0 Multilateral to external debt stocks (%) 51.1 66.4 81.9 81.8 84.4 85.4 87.0 79.8 Reserves to external debt stocks (%) 70.5 45.7 37.8 65.1 58.9 58.8 75.5 77.2 Reserves to imports (months) 5.0 .. .. 4.6 3.7 3.9 4.3 .. 272 TONGA 7. Long-term external debt Debt outstanding and disbursed 44.5 62.8 65.0 84.2 79.5 81.5 86.4 90.3 Public and publicly guaranteed 44.5 62.8 65.0 84.2 79.5 81.5 86.4 90.3 Official creditors 44.5 58.5 65.0 84.2 79.5 81.5 86.4 90.3 Multilateral 22.7 41.7 53.4 69.5 67.2 69.7 75.2 72.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.6 4.8 4.0 8.9 12.6 16.0 21.1 21.6 Bilateral 21.7 16.8 11.6 14.7 12.3 11.8 11.2 18.2 Private creditors 0.0 4.3 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 3.3 6.2 5.4 1.2 4.5 2.8 4.5 8.5 Public and publicly guaranteed 3.3 6.2 5.4 1.2 4.5 2.8 4.5 8.5 Official creditors 3.3 6.2 5.4 1.2 4.5 2.8 4.5 8.5 Multilateral 3.3 6.2 3.0 1.2 4.5 2.8 4.5 0.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 1.0 0.2 0.0 1.2 4.5 2.8 4.5 0.7 Bilateral 0.0 0.0 2.4 0.0 0.0 0.0 0.0 7.8 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.0 2.4 3.7 3.3 3.7 3.3 3.6 3.7 Public and publicly guaranteed 1.0 2.4 3.7 3.3 3.7 3.3 3.6 3.7 Official creditors 1.0 2.4 2.4 3.3 3.7 3.3 3.6 3.7 Multilateral 0.5 0.8 1.0 1.5 2.6 2.1 2.1 2.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 Bilateral 0.5 1.7 1.4 1.8 1.1 1.2 1.4 1.5 Private creditors 0.0 0.0 1.3 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 0.5 0.7 0.9 0.9 1.2 0.8 1.1 1.7 Public and publicly guaranteed 0.5 0.7 0.9 0.9 1.2 0.8 1.1 1.7 Official creditors 0.5 0.7 0.8 0.9 1.2 0.8 1.1 1.7 Multilateral 0.2 0.5 0.5 0.7 0.9 0.7 0.8 0.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 Bilateral 0.3 0.2 0.3 0.2 0.3 0.1 0.3 0.8 Private creditors 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 6.4 5.2 -3.6 -0.1 -5.3 2.0 4.7 4.0 Net flows on external debt 2.2 3.8 1.8 -2.1 0.9 -0.5 0.9 4.8 Cross-currency valuation 3.1 1.0 -4.2 2.6 -4.4 2.3 3.8 -5.5 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 3.6 3.8 4.0 4.2 6.2 7.5 7.5 7.5 Interest 1.6 1.8 2.0 2.0 2.1 2.0 2.0 1.9 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 273 TUNISIA 1. Summary external debt data External debt stocks 7,688 10,818 11,307 19,503 17,875 18,638 20,445 20,776 Long-term external debt 6,878 9,215 9,684 16,158 14,740 15,281 16,461 16,449 Public and publicly guaranteed 6,878 9,215 9,684 16,158 14,740 15,281 16,461 16,449 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 176 293 32 0 0 0 0 0 Short-term external debt 634 1,310 1,590 3,345 3,135 3,357 3,984 4,327 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 15 1 0 0 0 0 0 0 6,660 9,016 8,884 14,469 12,969 13,412 14,423 14,347 218 200 800 1,689 1,772 1,869 2,038 2,102 799 1,949 1,412 1,657 1,738 1,075 998 1,198 External debt flows Disbursements 1,017 1,389 1,542 1,917 1,256 1,453 1,615 1,079 Long-term external debt 1,017 1,389 1,542 1,917 1,256 1,453 1,615 1,079 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 984 939 1,336 1,389 1,186 1,652 1,570 1,165 Long-term external debt 872 924 1,295 1,389 1,186 1,652 1,570 1,165 IMF repurchases 111 15 40 0 0 0 0 0 Net flows 292 654 259 322 -141 22 672 257 Long-term external debt 144 465 246 528 69 -200 45 -86 Short-term external debt 259 204 52 -206 -210 222 627 343 Interest payments 447 541 570 737 848 881 926 952 Long-term external debt 394 486 489 634 686 686 742 744 IMF charges 23 17 3 0 0 0 0 0 Short-term external debt 30 38 78 103 162 195 184 208 2. Other non-debt resource flows Foreign direct investment (net) 76 264 752 642 723 3,270 1,532 2,638 Portfolio equity flows 5 12 -18 24 12 65 30 -39 Profit remittances on FDI 97 174 468 678 962 988 1,523 1,958 Grants (excluding technical coop.) 174 59 43 162 135 185 169 118 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 100 122 96 142 145 150 164 157 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 34.5 35.4 41.1 44.2 42.6 Japanese yen 8.4 13.3 19.8 16.9 15.3 12.6 13.6 17.2 Pound sterling 0.1 0.0 0.4 0.3 0.2 0.2 0.1 0.1 Swiss franc 0.5 0.2 0.6 0.5 0.4 0.3 0.3 0.3 U.S.dollars 24.3 19.2 35.8 28.5 29.7 27.6 24.4 23.5 4. Average terms of new commitments Official creditors Interest (%) 6.0 6.2 4.0 3.3 3.1 3.1 2.2 2.6 Maturity (years) 18.5 24.1 20.8 19.8 19.2 21.4 22.3 21.9 Grace period (years) 5.0 4.6 6.0 5.6 3.5 6.2 5.9 5.5 Private creditors Interest (%) 8.1 6.0 3.9 4.4 4.4 4.8 3.4 4.8 Maturity (years) 9.4 8.5 14.4 8.4 14.4 13.2 19.9 10.4 Grace period (years) 2.1 5.1 12.5 7.0 12.7 1.8 18.9 1.5 5. Major economic aggregates Gross national income (GNI) 11,882 17,174 18,526 26,895 27,309 29,553 33,249 35,518 Exports of goods, services & income 5,851 8,778 9,497 14,854 16,164 17,654 22,066 .. Worker remit. & comp. of employees 551 680 796 1,432 1,393 1,510 1,716 1,870 Imports of goods & services 6,591 9,646 10,347 15,513 16,580 18,412 23,143 .. International reserves 867 1,689 1,871 4,031 4,548 6,912 8,032 9,039 Current account balance -463 -774 -821 -551 -299 -619 -904 .. 6. Ratios External debt stocks to exports (%) 131.4 123.2 119.1 131.3 110.6 105.6 92.7 .. External debt stocks to GNI (%) 64.7 63.0 61.0 72.5 65.5 63.1 61.5 58.5 Debt service to exports (%) 24.5 16.9 20.1 14.3 12.6 14.3 11.3 .. Short-term to external debt stocks (%) 8.2 12.1 14.1 17.2 17.5 18.0 19.5 20.8 Multilateral to external debt stocks (%) 29.0 35.0 30.7 31.4 30.6 30.4 30.5 28.5 Reserves to external debt stocks (%) 11.3 15.6 16.6 20.7 25.4 37.1 39.3 43.5 Reserves to imports (months) 1.6 2.1 2.2 3.1 3.3 4.5 4.2 .. 274 TUNISIA 7. Long-term external debt Debt outstanding and disbursed 6,878 9,215 9,684 16,158 14,740 15,281 16,461 16,449 Public and publicly guaranteed 6,878 9,215 9,684 16,158 14,740 15,281 16,461 16,449 Official creditors 5,240 7,398 6,089 9,383 8,328 8,665 9,469 9,202 Multilateral 2,233 3,783 3,477 6,129 5,477 5,661 6,232 5,921 of which: IBRD 1,347 1,717 1,211 1,824 1,565 1,444 1,571 1,353 IDA 59 49 39 30 28 26 24 22 Bilateral 3,008 3,616 2,612 3,254 2,850 3,004 3,238 3,282 Private creditors 1,638 1,817 3,595 6,775 6,413 6,617 6,992 7,247 of which: Bonds 0 535 1,327 3,740 3,510 3,636 3,899 4,050 Commercial banks 339 236 786 931 817 847 900 998 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,017 1,389 1,542 1,917 1,256 1,453 1,615 1,079 Public and publicly guaranteed 1,017 1,389 1,542 1,917 1,256 1,453 1,615 1,079 Official creditors 699 611 709 1,056 841 963 1,103 832 Multilateral 430 467 428 747 606 673 846 550 of which: IBRD 213 138 136 138 177 112 161 70 IDA 0 0 0 0 0 0 0 0 Bilateral 269 145 281 309 235 290 256 282 Private creditors 318 777 833 861 414 490 513 248 of which: Bonds 0 588 0 559 249 251 255 0 Commercial banks 88 56 488 123 32 67 68 72 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 872 924 1,295 1,389 1,186 1,652 1,570 1,165 Public and publicly guaranteed 872 924 1,295 1,389 1,186 1,652 1,570 1,165 Official creditors 357 639 661 930 868 1,149 1,094 947 Multilateral 168 363 408 531 533 843 783 634 of which: IBRD 111 203 150 226 232 366 169 273 IDA 1 2 2 2 2 2 2 2 Bilateral 189 276 253 399 336 306 310 312 Private creditors 515 285 634 459 318 503 476 218 of which: Bonds 60 0 371 277 136 301 250 0 Commercial banks 113 63 134 60 63 67 86 62 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 394 486 489 634 686 686 742 744 Public and publicly guaranteed 394 486 489 634 686 686 742 744 Official creditors 249 368 297 320 330 335 350 361 Multilateral 149 255 215 242 249 262 270 286 of which: IBRD 103 129 79 77 69 72 67 74 IDA 0 0 0 0 0 0 0 0 Bilateral 100 113 82 79 81 73 79 75 Private creditors 146 118 193 313 355 351 392 383 of which: Bonds 5 14 99 182 200 211 216 217 Commercial banks 35 18 37 32 36 35 38 39 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 715 1,205 -553 1,161 -1,627 763 1,807 331 Net flows on external debt 292 654 259 322 -141 22 672 257 Cross-currency valuation 351 178 -409 284 -1,101 448 928 220 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 7 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,183 1,185 1,108 1,044 1,002 969 946 853 Interest 325 322 306 285 260 235 207 180 Private creditors Principal 1,091 870 1,170 952 709 208 204 52 Interest 317 275 249 176 129 106 99 95 Notes: Private nonguaranteed debt data are World Bank staff estimates based on information from the government. Short-term debt is based on reports provided by the country. 275 TURKEY 1. Summary external debt data External debt stocks 49,424 73,781 116,745 160,074 168,670 206,833 249,181 277,277 Long-term external debt 39,924 57,396 83,657 106,668 116,924 153,756 200,220 218,038 Public and publicly guaranteed 38,870 50,317 55,829 69,998 64,567 69,874 77,152 77,945 Private nonguaranteed 1,054 7,079 27,828 36,669 52,357 83,882 123,068 140,094 Use of IMF credit 0 685 4,176 21,507 14,646 10,762 7,158 8,524 Short-term external debt 9,500 15,701 28,912 31,900 37,100 42,315 41,803 50,714 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 38,570 50,131 55,812 69,862 64,396 69,681 76,542 76,839 1,354 7,265 27,846 36,806 52,528 84,075 123,678 141,199 4,628 4,435 14,470 9,661 10,464 11,043 13,423 12,258 External debt flows Disbursements 5,243 6,980 26,481 29,919 43,733 59,781 70,310 67,213 Long-term external debt 5,243 6,638 23,022 28,743 41,272 56,840 69,163 63,659 IMF purchases 0 341 3,459 1,176 2,461 2,941 1,147 3,554 Principal repayments 4,010 7,020 13,859 25,243 31,872 30,505 35,951 41,358 Long-term external debt 3,961 7,020 13,772 20,562 24,092 23,012 30,787 39,392 IMF repurchases 49 0 87 4,681 7,780 7,493 5,164 1,967 Net flows 4,988 4,350 18,062 13,563 17,060 34,491 33,847 34,766 Long-term external debt 1,282 -382 9,250 8,181 17,180 33,828 38,375 24,267 Short-term external debt 3,755 4,391 5,440 8,887 5,200 5,215 -512 8,911 Interest payments 3,412 4,431 6,857 7,320 8,664 9,665 11,882 13,054 Long-term external debt 2,891 3,464 5,005 5,308 6,570 7,666 10,119 11,189 IMF charges 4 24 52 959 951 799 563 408 Short-term external debt 517 942 1,800 1,053 1,142 1,200 1,200 1,456 2. Other non-debt resource flows Foreign direct investment (net) 684 885 982 2,785 10,031 19,989 22,195 17,963 Portfolio equity flows 89 195 489 1,427 5,669 1,939 5,138 716 Profit remittances on FDI 161 312 279 1,043 1,051 1,168 2,193 2,681 Grants (excluding technical coop.) 804 439 87 281 363 411 540 220 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 148 198 85 146 175 184 227 448 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 25.3 23.5 25.2 27.1 28.0 Japanese yen 12.1 23.3 12.1 4.4 3.7 3.2 3.0 4.1 Pound sterling 0.8 0.9 0.8 0.1 0.1 0.0 0.0 0.0 Swiss franc 5.2 2.9 0.3 0.3 0.2 0.2 0.2 0.3 U.S.dollars 40.0 38.3 57.9 69.4 71.9 70.8 69.2 67.3 4. Average terms of new commitments Official creditors Interest (%) 6.7 5.4 6.5 2.7 2.8 4.5 4.4 4.5 Maturity (years) 17.0 17.7 14.6 17.8 24.6 16.0 18.3 22.0 Grace period (years) 7.3 5.7 4.8 5.3 6.7 6.2 7.0 6.8 Private creditors Interest (%) 9.4 6.3 8.6 6.4 6.1 6.4 6.4 6.9 Maturity (years) 6.5 4.5 11.3 12.4 13.1 11.5 11.5 13.2 Grace period (years) 3.2 2.7 8.5 11.8 12.1 10.0 9.3 10.9 5. Major economic aggregates Gross national income (GNI) 148,090 166,503 263,207 387,401 478,585 523,241 648,739 785,502 Exports of goods, services & income 25,205 41,397 57,749 94,950 109,472 124,417 151,802 184,182 Worker remit. & comp. of employees 3,246 3,327 4,560 804 851 1,111 1,209 1,360 Imports of goods & services 28,949 44,806 67,873 109,694 132,212 157,107 190,526 226,153 International reserves 7,626 13,891 23,515 37,304 52,494 63,265 76,496 73,674 Current account balance -2,625 -2,338 -9,920 -14,431 -22,137 -31,893 -37,697 -41,289 6. Ratios External debt stocks to exports (%) 196.1 178.2 202.2 168.6 154.1 166.2 164.1 150.5 External debt stocks to GNI (%) 33.4 44.3 44.4 41.3 35.2 39.5 38.4 35.3 Debt service to exports (%) 29.4 27.7 35.9 34.3 37.0 32.3 31.5 29.5 Short-term to external debt stocks (%) 19.2 21.3 24.8 19.9 22.0 20.5 16.8 18.3 Multilateral to external debt stocks (%) 19.5 12.1 4.9 4.9 4.5 4.2 4.4 4.6 Reserves to external debt stocks (%) 15.4 18.8 20.1 23.3 31.1 30.6 30.7 26.6 Reserves to imports (months) 3.2 3.7 4.2 4.1 4.8 4.8 4.8 3.9 276 TURKEY 7. Long-term external debt Debt outstanding and disbursed 39,924 57,396 83,657 106,668 116,924 153,756 200,220 218,038 Public and publicly guaranteed 38,870 50,317 55,829 69,998 64,567 69,874 77,152 77,945 Official creditors 18,150 17,324 12,538 13,851 12,384 13,405 15,563 18,247 Multilateral 9,627 8,962 5,686 7,800 7,594 8,713 10,872 12,656 of which: IBRD 6,272 4,939 3,634 6,153 5,829 6,854 7,541 8,046 IDA 157 130 101 77 71 65 59 54 Bilateral 8,523 8,362 6,853 6,051 4,790 4,692 4,691 5,591 Private creditors 20,720 32,993 43,291 56,147 52,184 56,469 61,588 59,698 of which: Bonds 4,976 13,646 21,766 30,702 30,434 34,390 38,138 37,593 Commercial banks 13,403 15,643 19,411 24,371 20,984 21,496 22,962 21,672 Private nonguaranteed 1,054 7,079 27,828 36,669 52,357 83,882 123,068 140,094 of which: Bonds 16 149 1,784 2,050 4,025 5,776 6,662 6,759 Disbursements 5,243 6,638 23,022 28,743 41,272 56,840 69,163 63,659 Public and publicly guaranteed 4,700 4,862 14,141 10,006 7,768 9,487 10,977 10,433 Official creditors 2,138 808 2,408 2,127 1,001 2,359 3,059 3,685 Multilateral 1,083 466 1,505 1,834 851 1,995 2,694 2,644 of which: IBRD 627 422 1,291 1,499 461 1,796 1,223 1,198 IDA 0 0 0 0 0 0 0 0 Bilateral 1,056 342 903 293 151 364 365 1,042 Private creditors 2,561 4,053 11,733 7,879 6,767 7,128 7,918 6,747 of which: Bonds 644 2,343 7,118 5,739 5,230 5,509 5,213 4,000 Commercial banks 1,435 1,256 4,258 2,094 1,533 1,619 2,685 2,682 Private nonguaranteed 543 1,777 8,881 18,737 33,504 47,353 58,186 53,226 of which: Bonds 0 0 454 700 3,125 1,727 950 150 Principal repayments 3,961 7,020 13,772 20,562 24,092 23,012 30,787 39,392 Public and publicly guaranteed 3,677 5,987 6,296 8,055 8,032 6,168 6,424 7,545 Official creditors 1,920 1,991 1,747 1,607 1,688 1,665 1,575 1,427 Multilateral 825 1,229 1,044 717 901 1,000 895 820 of which: IBRD 620 882 486 580 755 807 666 628 IDA 4 6 6 6 6 6 6 6 Bilateral 1,094 762 702 890 787 665 680 607 Private creditors 1,758 3,996 4,550 6,447 6,344 4,504 4,849 6,118 of which: Bonds 47 1,716 1,869 4,083 3,993 2,463 2,798 3,902 Commercial banks 1,204 1,579 1,808 2,023 2,068 1,843 1,923 2,077 Private nonguaranteed 283 1,033 7,476 12,508 16,060 16,844 24,364 31,847 of which: Bonds 0 0 0 172 1,150 0 200 0 Interest payments 2,891 3,464 5,005 5,308 6,570 7,666 10,119 11,189 Public and publicly guaranteed 2,830 3,126 3,471 4,134 4,646 4,597 5,209 5,119 Official creditors 1,043 977 659 438 594 529 595 630 Multilateral 688 656 374 266 448 405 485 523 of which: IBRD 511 396 237 201 248 329 389 360 IDA 1 1 1 1 1 1 0 0 Bilateral 355 321 285 172 146 123 110 107 Private creditors 1,787 2,149 2,812 3,696 4,051 4,068 4,614 4,488 of which: Bonds 383 1,074 1,598 2,608 2,938 2,862 3,342 3,323 Commercial banks 1,204 782 1,069 1,022 1,060 1,164 1,236 1,138 Private nonguaranteed 61 339 1,533 1,174 1,925 3,069 4,910 6,071 of which: Bonds 1 13 126 165 338 328 412 371 8. Debt stock-flow reconciliation Total change in external debt stocks 7,847 7,532 15,053 13,382 8,596 38,162 42,348 28,095 Net flows on external debt 4,988 4,350 18,062 13,563 17,060 34,491 33,847 34,766 Cross-currency valuation 1,874 675 -1,965 2,506 -4,450 2,526 2,811 -716 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,730 1,792 1,735 1,843 1,967 2,034 1,904 2,428 Interest 620 663 674 663 634 591 541 482 Private creditors Principal 41,712 27,786 22,731 21,470 17,651 13,345 10,833 8,878 Interest 8,856 8,289 7,753 6,952 6,199 4,977 4,750 3,008 Notes: Data on long-term public and publicly guaranteed debt include nonresident deposits made under the Dresdner Bank scheme, amounting to $11.7 billion at end- 2008. Short-term debt data are based on government statistics. 277 TURKMENISTAN 1. Summary external debt data External debt stocks .. 402.2 2518.3 1522.4 1058.0 886.0 743.4 638.2 Long-term external debt .. 384.9 2288.1 1267.5 911.0 734.3 649.9 587.4 Public and publicly guaranteed .. 384.9 2271.3 1226.6 877.8 730.5 648.2 586.8 Private nonguaranteed .. 0.0 16.7 40.9 33.1 3.9 1.8 0.6 Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt .. 17.4 230.3 254.9 147.0 151.7 93.5 50.8 interest arrears on long-term .. 9.4 5.0 4.9 5.0 3.7 3.5 0.8 Memorandum items .. 130.2 148.1 24.2 16.9 1.4 1.7 1.7 .. 384.9 2271.3 1226.6 877.8 730.5 648.2 586.8 .. 0.0 16.7 40.9 33.1 3.9 1.8 0.6 .. 290.5 4.7 0.0 22.0 50.2 65.7 0.0 External debt flows Disbursements .. 113.0 430.1 128.5 89.0 9.5 38.9 25.9 Long-term external debt .. 113.0 430.1 128.5 89.0 9.5 38.9 25.9 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 80.3 353.0 354.4 261.4 216.5 166.3 140.8 Long-term external debt .. 80.3 353.0 354.4 261.4 216.5 166.3 140.8 IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows .. -39.2 -1.6 -266.9 -280.4 -200.9 -185.4 -154.9 Long-term external debt .. 32.8 77.1 -225.9 -172.4 -206.9 -127.4 -114.9 Short-term external debt .. -72.0 -78.8 -41.0 -108.0 6.0 -58.0 -40.0 Interest payments .. 24.1 115.2 50.6 45.9 38.3 33.9 28.9 Long-term external debt .. 22.1 101.9 40.8 39.1 33.2 29.8 26.7 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt .. 2.0 13.2 9.8 6.8 5.1 4.0 2.2 2. Other non-debt resource flows Foreign direct investment (net) .. 233.0 131.0 353.7 418.2 730.9 804.0 820.0 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. 1.2 6.9 5.3 9.4 9.4 21.5 27.3 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants .. 12.8 11.7 27.9 24.0 21.6 17.5 16.9 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 36.4 31.8 35.9 35.6 30.9 Japanese yen .. 0.0 31.6 41.4 43.7 43.3 40.5 41.5 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 72.1 51.5 17.8 18.2 13.4 9.8 7.9 4. Average terms of new commitments Official creditors Interest (%) .. 4.4 4.0 0.0 1.4 3.2 3.0 0.0 Maturity (years) .. 13.4 10.2 0.0 13.8 20.1 20.0 0.0 Grace period (years) .. 2.8 3.7 0.0 6.0 4.6 3.5 0.0 Private creditors Interest (%) .. 6.5 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 7.4 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 1.9 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 2500.6 2727.4 6729.2 7539.8 9653.9 12179.5 17074.3 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves .. 1168.0 .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) .. 16.1 92.3 22.6 14.0 9.2 6.1 3.7 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) .. 4.3 9.1 16.7 13.9 17.1 12.6 8.0 Multilateral to external debt stocks (%) .. 14.5 1.9 3.0 3.8 3.4 3.1 3.1 Reserves to external debt stocks (%) .. 290.4 .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 278 TURKMENISTAN 7. Long-term external debt Debt outstanding and disbursed .. 384.9 2288.1 1267.5 911.0 734.3 649.9 587.4 Public and publicly guaranteed .. 384.9 2271.3 1226.6 877.8 730.5 648.2 586.8 Official creditors .. 218.8 838.6 855.9 685.9 575.2 523.4 500.2 Multilateral .. 58.2 48.3 45.8 40.4 30.1 23.0 20.1 of which: IBRD .. 0.9 28.0 31.2 29.1 21.0 15.4 14.2 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. 160.6 790.3 810.1 645.4 545.1 500.4 480.2 Private creditors .. 166.0 1432.7 370.7 192.0 155.3 124.8 86.5 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 240.5 178.0 125.4 109.1 90.2 63.5 Private nonguaranteed .. 0.0 16.7 40.9 33.1 3.9 1.8 0.6 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements .. 113.0 430.1 128.5 89.0 9.5 38.9 25.9 Public and publicly guaranteed .. 113.0 420.9 67.5 24.9 9.1 38.9 25.6 Official creditors .. 32.3 292.6 67.5 24.9 9.1 38.9 25.6 Multilateral .. 1.0 29.3 3.7 0.5 0.0 0.0 0.0 of which: IBRD .. 1.0 20.1 3.3 0.0 0.0 0.0 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. 31.4 263.3 63.8 24.4 9.1 38.9 25.6 Private creditors .. 80.7 128.3 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 91.2 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 9.2 61.0 64.1 0.5 0.0 0.3 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 80.3 353.0 354.4 261.4 216.5 166.3 140.8 Public and publicly guaranteed .. 80.3 347.4 289.9 189.1 188.0 164.3 139.3 Official creditors .. 19.6 44.0 131.3 112.6 140.5 124.6 104.3 Multilateral .. 0.0 4.7 6.1 4.6 10.9 7.5 2.8 of which: IBRD .. 0.0 0.5 2.0 1.8 8.2 5.6 1.2 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. 19.6 39.3 125.2 108.0 129.6 117.2 101.5 Private creditors .. 60.7 303.4 158.6 76.5 47.5 39.7 35.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 13.0 36.4 34.7 27.1 28.2 23.5 Private nonguaranteed .. 0.0 5.5 64.5 72.3 28.5 2.0 1.5 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments .. 22.1 101.9 40.8 39.1 33.2 29.8 26.7 Public and publicly guaranteed .. 22.1 101.2 39.2 37.3 32.3 29.6 26.6 Official creditors .. 11.7 27.8 25.1 23.9 23.7 19.8 20.1 Multilateral .. 1.9 2.5 1.6 1.9 2.4 1.7 1.1 of which: IBRD .. 0.1 1.3 0.6 1.0 1.5 1.1 0.6 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. 9.8 25.3 23.5 22.0 21.3 18.1 18.9 Private creditors .. 10.3 73.4 14.1 13.4 8.6 9.7 6.6 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 8.5 6.2 5.9 5.1 6.9 4.9 Private nonguaranteed .. 0.0 0.7 1.6 1.8 0.9 0.3 0.1 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks .. -28.8 -118.0 -220.8 -464.3 -172.0 -142.6 -105.2 Net flows on external debt .. -39.2 -1.6 -266.9 -280.4 -200.9 -185.4 -154.9 Cross-currency valuation .. 5.8 -87.3 50.0 -119.8 31.5 48.2 60.2 9. Debt restructurings Total amount rescheduled .. 0.0 48.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 115.3 95.4 90.0 37.4 35.3 35.6 35.6 15.4 Interest 14.6 12.3 10.2 8.0 6.9 5.9 4.8 3.5 Private creditors Principal 34.1 34.2 18.8 0.0 0.0 0.0 0.0 0.0 Interest 2.8 1.6 0.6 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt and private nonguaranteed debt for 2008 are World Bank staff estimates. Country reassumed reporting in 2005. 279 UGANDA 1. Summary external debt data External debt stocks 2,606 3,609 3,497 4,745 4,421 1,260 1,610 2,249 Long-term external debt 2,177 3,089 3,051 4,418 4,210 1,103 1,574 1,781 Public and publicly guaranteed 2,177 3,089 3,051 4,418 4,210 1,103 1,574 1,781 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 282 417 316 192 131 9 9 9 Short-term external debt 146 103 129 135 79 148 26 458 interest arrears on long-term 89 69 58 76 29 27 26 26 Memorandum items 225 226 124 204 75 64 53 51 2,157 3,066 3,047 4,418 4,210 1,103 1,573 1,780 20 23 5 0 0 0 1 1 440 95 145 68 382 166 686 621 External debt flows Disbursements 372 290 230 215 235 252 473 275 Long-term external debt 293 234 219 212 229 249 473 275 IMF purchases 79 56 12 3 6 3 0 0 Principal repayments 109 97 48 66 135 84 50 52 Long-term external debt 65 69 26 37 99 84 50 52 IMF repurchases 43 28 21 29 36 0 0 0 Net flows 269 189 177 133 90 239 303 655 Long-term external debt 227 165 192 175 130 165 424 223 Short-term external debt 6 -4 -6 -15 -10 71 -121 432 Interest payments 36 38 26 37 35 29 16 22 Long-term external debt 18 34 21 34 33 25 12 15 IMF charges 13 2 2 1 0 0 0 0 Short-term external debt 5 2 4 2 3 4 3 6 2. Other non-debt resource flows Foreign direct investment (net) -6 121 161 295 380 644 733 788 Portfolio equity flows 0 0 0 24 0 19 -23 -32 Profit remittances on FDI 0 60 19 219 202 249 268 294 Grants (excluding technical coop.) 257 400 555 1,007 858 4,449 1,170 1,300 of which: Debt forgiveness grants .. .. 122 111 47 3,440 10 15 IDA grants .. .. .. 178 184 124 1 9 Memo: technical coop. grants 91 147 129 208 217 262 99 102 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.0 2.8 13.9 10.2 7.4 Japanese yen 0.3 1.2 1.8 0.0 0.0 0.0 0.0 0.3 Pound sterling 6.7 2.1 0.6 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 53.0 66.2 62.5 68.0 67.9 55.3 48.4 46.7 4. Average terms of new commitments Official creditors Interest (%) 1.1 0.9 0.8 1.0 0.8 0.8 0.8 0.7 Maturity (years) 36.5 39.2 40.0 25.2 45.7 39.3 41.1 40.7 Grace period (years) 9.9 10.0 7.9 6.5 10.2 9.8 9.9 9.9 Private creditors Interest (%) 0.5 0.0 7.5 0.0 0.0 0.0 0.0 0.0 Maturity (years) 1.3 0.0 8.2 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.7 0.0 2.8 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 4,227 5,698 6,086 7,801 8,991 9,712 11,663 14,218 Exports of goods, services & income 178 682 954 1,468 1,890 2,154 3,086 4,280 Worker remit. & comp. of employees .. .. 238 311 322 411 452 489 Imports of goods & services 734 1,603 1,574 2,284 2,675 3,297 4,281 5,642 International reserves 44 459 808 1,308 1,344 1,811 2,560 2,301 Current account balance -263 -281 -359 -125 -70 -438 -538 -845 6. Ratios External debt stocks to exports (%) 1,465.6 529.2 366.4 323.3 233.8 58.5 52.2 52.5 External debt stocks to GNI (%) 61.6 63.3 57.5 60.8 49.2 13.0 13.8 15.8 Debt service to exports (%) 81.4 19.8 7.8 7.0 9.0 5.2 2.1 1.7 Short-term to external debt stocks (%) 5.6 2.8 3.7 2.9 1.8 11.8 1.6 20.4 Multilateral to external debt stocks (%) 49.4 61.8 75.3 86.4 89.0 67.7 83.1 69.5 Reserves to external debt stocks (%) 1.7 12.7 23.1 27.6 30.4 143.7 159.0 102.3 Reserves to imports (months) 0.7 3.4 6.2 6.9 6.0 6.6 7.2 4.9 280 UGANDA 7. Long-term external debt Debt outstanding and disbursed 2,177 3,089 3,051 4,418 4,210 1,103 1,574 1,781 Public and publicly guaranteed 2,177 3,089 3,051 4,418 4,210 1,103 1,574 1,781 Official creditors 1,843 3,002 3,027 4,393 4,183 1,076 1,549 1,756 Multilateral 1,287 2,232 2,634 4,097 3,934 853 1,339 1,563 of which: IBRD 34 0 0 0 0 0 0 0 IDA 935 1,792 2,115 3,303 3,141 436 840 1,004 Bilateral 556 770 393 297 250 223 210 193 Private creditors 335 87 24 24 27 26 26 25 of which: Bonds 4 4 4 0 0 0 0 0 Commercial banks 89 21 9 3 2 2 1 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 293 234 219 212 229 249 473 275 Public and publicly guaranteed 293 234 219 212 229 249 473 275 Official creditors 254 234 219 204 225 249 473 275 Multilateral 219 213 218 204 225 249 449 264 of which: IBRD 0 0 0 0 0 0 0 0 IDA 199 159 190 138 133 156 374 172 Bilateral 36 21 0 0 0 0 24 11 Private creditors 38 0 0 8 4 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 4 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 65 69 26 37 99 84 50 52 Public and publicly guaranteed 65 69 26 37 99 84 50 52 Official creditors 44 60 25 36 98 83 49 52 Multilateral 19 49 9 30 34 50 24 25 of which: IBRD 4 12 0 0 0 0 0 0 IDA 2 8 3 17 21 24 0 0 Bilateral 25 11 16 6 64 33 24 27 Private creditors 22 9 1 1 1 1 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 14 7 1 1 1 1 1 1 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 18 34 21 34 33 25 12 15 Public and publicly guaranteed 18 34 21 34 33 25 12 15 Official creditors 17 32 20 33 32 25 12 15 Multilateral 13 22 10 32 31 24 11 13 of which: IBRD 2 1 0 0 0 0 0 0 IDA 5 13 6 24 24 15 5 7 Bilateral 4 10 11 2 2 1 1 2 Private creditors 1 2 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 2 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 410 211 -1 210 -324 -3,161 351 638 Net flows on external debt 269 189 177 133 90 239 303 655 Cross-currency valuation 203 50 -150 139 -317 -3,076 27 0 9. Debt restructurings Total amount rescheduled 16 172 35 3 154 10 0 0 Total amount forgiven 51 41 189 91 36 3,425 20 7 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 60 45 46 50 56 53 51 52 Interest 19 20 21 21 21 21 20 20 Private creditors Principal 0 0 0 0 0 1 2 2 Interest 0 0 0 0 0 0 0 0 Notes: Uganda was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 281 UKRAINE 1. Summary external debt data External debt stocks .. 8,429 12,190 30,186 33,297 49,887 73,600 92,479 Long-term external debt .. 6,664 9,670 18,140 20,047 33,696 50,255 67,374 Public and publicly guaranteed .. 6,581 8,142 10,590 10,458 9,538 10,568 10,726 Private nonguaranteed .. 84 1,528 7,551 9,588 24,158 39,687 56,648 Use of IMF credit .. 1,542 2,073 1,605 1,188 830 431 4,709 Short-term external debt .. 223 447 10,440 12,063 15,361 22,914 20,397 interest arrears on long-term .. 35 183 185 110 150 199 335 Memorandum items .. 88 567 288 240 286 322 653 .. 6,581 8,117 10,579 10,442 9,529 10,568 10,726 .. 84 1,553 7,561 9,605 24,166 39,687 56,648 .. 673 157 2,570 1,689 305 1,925 990 External debt flows Disbursements .. 1,997 1,638 8,333 7,969 15,776 26,128 36,389 Long-term external debt .. 801 1,387 8,333 7,969 15,776 26,128 31,647 IMF purchases .. 1,196 251 0 0 0 0 4,742 Principal repayments .. 636 2,952 3,524 4,411 7,135 8,834 14,246 Long-term external debt .. 636 2,103 3,225 4,111 6,724 8,407 13,906 IMF repurchases .. 0 849 299 300 410 427 341 Net flows .. 1,337 -1,287 6,207 5,257 11,899 24,798 19,490 Long-term external debt .. 165 -716 5,108 3,858 9,051 17,721 17,741 Short-term external debt .. -24 26 1,398 1,698 3,258 7,504 -2,653 Interest payments .. 501 709 1,069 1,479 2,254 3,002 3,838 Long-term external debt .. 447 573 677 1,036 1,726 2,305 3,242 IMF charges .. 42 122 45 50 53 39 14 Short-term external debt .. 12 14 347 393 475 659 582 2. Other non-debt resource flows Foreign direct investment (net) .. 267 595 1,715 7,808 5,604 9,891 10,913 Portfolio equity flows .. 0 146 -61 82 322 715 388 Profit remittances on FDI .. 0 43 180 268 996 1,178 2,506 Grants (excluding technical coop.) .. 64 0 0 208 228 298 402 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 120 0 0 214 261 127 218 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 15.9 17.2 16.9 14.8 13.0 Japanese yen .. 0.0 2.0 1.4 1.1 1.0 0.7 0.7 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 63.3 53.2 71.6 72.2 72.9 77.1 80.2 4. Average terms of new commitments Official creditors Interest (%) .. 4.7 7.3 2.7 3.8 6.2 4.7 3.3 Maturity (years) .. 13.4 15.2 19.6 20.9 20.0 19.8 23.7 Grace period (years) .. 4.8 4.5 5.1 6.1 5.5 5.3 5.2 Private creditors Interest (%) .. 6.5 0.0 7.6 5.2 0.0 6.9 0.0 Maturity (years) .. 8.0 0.0 6.7 10.7 0.0 6.7 0.0 Grace period (years) .. 2.5 0.0 4.4 9.9 0.0 6.7 0.0 5. Major economic aggregates Gross national income (GNI) .. 47,438 30,320 64,084 85,157 106,031 140,602 178,815 Exports of goods, services & income .. 17,337 19,665 41,873 45,372 51,860 69,949 93,171 Worker remit. & comp. of employees .. .. 33 411 595 829 4,503 5,769 Imports of goods & services .. 18,961 19,032 37,347 45,450 56,361 76,468 106,921 International reserves .. 1,069 1,477 9,718 19,388 22,360 32,484 31,543 Current account balance .. -1,152 1,481 6,909 2,531 -1,617 -5,272 -12,763 6. Ratios External debt stocks to exports (%) .. 48.6 62.0 72.1 73.4 96.2 105.2 99.3 External debt stocks to GNI (%) .. 17.8 40.2 47.1 39.1 47.0 52.3 51.7 Debt service to exports (%) .. 6.6 18.6 11.0 13.0 18.1 16.9 19.4 Short-term to external debt stocks (%) .. 2.6 3.7 34.6 36.2 30.8 31.1 22.1 Multilateral to external debt stocks (%) .. 7.8 19.5 8.6 8.3 5.3 3.6 3.6 Reserves to external debt stocks (%) .. 12.7 12.1 32.2 58.2 44.8 44.1 34.1 Reserves to imports (months) .. 0.7 0.9 3.1 5.1 4.8 5.1 3.5 282 UKRAINE 7. Long-term external debt Debt outstanding and disbursed .. 6,664 9,670 18,140 20,047 33,696 50,255 67,374 Public and publicly guaranteed .. 6,581 8,142 10,590 10,458 9,538 10,568 10,726 Official creditors .. 4,346 5,005 5,313 5,123 4,782 4,551 5,006 Multilateral .. 659 2,377 2,600 2,768 2,662 2,633 3,307 of which: IBRD .. 491 1,991 2,168 2,429 2,362 2,309 3,022 IDA .. 0 0 0 0 0 0 0 Bilateral .. 3,687 2,628 2,713 2,355 2,119 1,918 1,698 Private creditors .. 2,235 3,136 5,276 5,336 4,756 6,017 5,720 of which: Bonds .. 1,200 2,379 2,957 2,958 2,469 3,966 3,918 Commercial banks .. 130 134 1,259 1,349 1,260 1,025 782 Private nonguaranteed .. 84 1,528 7,551 9,588 24,158 39,687 56,648 of which: Bonds .. 0 0 100 550 1,513 4,185 4,965 Disbursements .. 801 1,387 8,333 7,969 15,776 26,128 31,647 Public and publicly guaranteed .. 732 183 2,646 1,415 131 1,928 923 Official creditors .. 550 151 108 567 131 202 923 Multilateral .. 525 129 104 560 131 199 922 of which: IBRD .. 401 113 33 484 85 115 889 IDA .. 0 0 0 0 0 0 0 Bilateral .. 25 22 4 7 0 4 2 Private creditors .. 182 32 2,538 847 0 1,726 0 of which: Bonds .. 0 0 1,358 747 0 1,725 0 Commercial banks .. 0 14 1,180 100 0 0 0 Private nonguaranteed .. 69 1,204 5,688 6,554 15,645 24,200 30,723 of which: Bonds .. 0 0 100 450 962 2,800 1,230 Principal repayments .. 636 2,103 3,225 4,111 6,724 8,407 13,906 Public and publicly guaranteed .. 595 1,257 1,124 1,216 1,261 1,097 729 Official creditors .. 165 1,215 493 569 557 525 483 Multilateral .. 127 70 288 288 277 275 261 of which: IBRD .. 0 24 166 168 171 189 203 IDA .. 0 0 0 0 0 0 0 Bilateral .. 38 1,145 205 281 280 250 223 Private creditors .. 430 42 632 647 704 572 246 of which: Bonds .. 200 33 601 622 602 328 0 Commercial banks .. 2 2 0 0 95 241 242 Private nonguaranteed .. 40 845 2,101 2,895 5,463 7,310 13,176 of which: Bonds .. 0 0 0 0 0 129 450 Interest payments .. 447 573 677 1,036 1,726 2,305 3,242 Public and publicly guaranteed .. 440 502 425 563 619 594 612 Official creditors .. 306 149 109 134 181 191 167 Multilateral .. 13 141 68 91 140 154 138 of which: IBRD .. 8 118 56 76 121 134 118 IDA .. 0 0 0 0 0 0 0 Bilateral .. 293 8 41 43 41 37 29 Private creditors .. 134 352 316 429 438 403 445 of which: Bonds .. 87 344 222 222 208 191 267 Commercial banks .. 3 8 13 128 152 134 100 Private nonguaranteed .. 7 71 252 473 1,107 1,710 2,630 of which: Bonds .. 0 0 0 41 89 247 336 8. Debt stock-flow reconciliation Total change in external debt stocks .. 2,793 -1,760 6,194 3,112 16,589 23,713 18,879 Net flows on external debt .. 1,337 -1,287 6,207 5,257 11,899 24,798 19,490 Cross-currency valuation .. 70 -369 267 -424 291 258 -55 9. Debt restructurings Total amount rescheduled .. 2,535 2,185 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 528 512 508 507 516 362 371 357 Interest 140 125 111 96 83 71 65 58 Private creditors Principal 13,699 14,187 11,547 7,007 4,896 1,732 3,041 1,205 Interest 3,555 2,854 2,383 1,514 936 704 715 461 Notes: Short-term debt is based on reports provided by National Bank of Ukraine. 283 URUGUAY 1. Summary external debt data External debt stocks 4,415 5,318 8,408 11,719 11,064 10,107 11,488 11,049 Long-term external debt 3,114 3,960 5,873 8,152 8,024 9,368 10,580 10,232 Public and publicly guaranteed 3,045 3,833 5,550 7,820 7,699 9,049 10,293 10,044 Private nonguaranteed 69 127 322 332 325 319 287 187 Use of IMF credit 101 21 149 2,684 2,304 0 0 0 Short-term external debt 1,201 1,336 2,387 883 736 739 908 817 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 3,042 3,831 5,550 7,820 7,699 9,049 10,293 10,044 72 130 322 332 325 319 287 187 339 452 759 318 2,840 2,060 1,527 601 External debt flows Disbursements 358 661 928 1,003 1,626 2,330 1,476 789 Long-term external debt 346 661 928 450 1,329 2,033 1,476 789 IMF purchases 12 0 0 552 297 298 0 0 Principal repayments 559 484 666 803 1,308 4,937 540 911 Long-term external debt 434 474 666 402 839 2,267 540 911 IMF repurchases 124 10 0 401 469 2,670 0 0 Net flows -134 281 382 344 171 -2,604 1,104 -212 Long-term external debt -88 187 262 48 490 -234 935 -121 Short-term external debt 66 104 120 145 -147 3 169 -91 Interest payments 428 379 544 543 629 723 688 576 Long-term external debt 318 298 413 404 434 580 638 535 IMF charges 16 2 8 95 115 106 5 0 Short-term external debt 93 80 123 44 80 37 45 41 2. Other non-debt resource flows Foreign direct investment (net) 42 157 274 332 847 1,493 1,321 2,205 Portfolio equity flows 0 0 5 20 -2 -27 2 2 Profit remittances on FDI 0 54 99 229 228 261 531 713 Grants (excluding technical coop.) 11 15 8 24 27 19 33 26 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 25 34 15 17 15 16 19 24 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.9 8.4 6.8 6.0 4.7 Japanese yen 5.1 6.4 3.4 3.2 2.9 2.4 4.5 5.5 Pound sterling 3.6 1.9 1.0 0.1 0.1 0.0 0.0 0.0 Swiss franc 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 64.9 53.8 80.8 85.2 83.9 87.4 86.8 87.4 4. Average terms of new commitments Official creditors Interest (%) 7.8 3.9 7.2 5.0 4.6 5.4 5.6 3.0 Maturity (years) 20.1 14.9 14.8 19.6 17.7 21.1 16.3 17.2 Grace period (years) 5.0 5.5 5.2 4.2 5.3 4.8 6.3 4.4 Private creditors Interest (%) 9.8 7.0 7.8 7.4 8.0 6.8 3.6 3.8 Maturity (years) 8.7 7.2 7.7 2.7 15.1 24.7 21.5 16.9 Grace period (years) 1.0 3.3 7.2 1.8 15.1 24.7 19.9 15.2 5. Major economic aggregates Gross national income (GNI) 8,961 18,994 22,757 13,095 16,863 19,586 23,878 31,695 Exports of goods, services & income 2,417 3,911 4,441 4,699 5,725 6,618 7,918 10,196 Worker remit. & comp. of employees .. .. .. 70 77 89 96 108 Imports of goods & services 2,239 4,200 5,035 4,739 5,750 7,047 8,171 11,463 International reserves 1,446 1,813 2,776 2,512 3,078 3,091 4,121 6,360 Current account balance 186 -213 -566 3 42 -392 -212 -1,225 6. Ratios External debt stocks to exports (%) 182.7 136.0 189.3 249.4 193.3 152.7 145.1 108.4 External debt stocks to GNI (%) 49.3 28.0 36.9 89.5 65.6 51.6 48.1 34.9 Debt service to exports (%) 40.8 22.1 27.2 28.6 33.8 85.5 15.5 14.6 Short-term to external debt stocks (%) 27.2 25.1 28.4 7.5 6.7 7.3 7.9 7.4 Multilateral to external debt stocks (%) 15.8 23.7 22.9 26.3 28.0 25.0 22.0 26.5 Reserves to external debt stocks (%) 32.7 34.1 33.0 21.4 27.8 30.6 35.9 57.6 Reserves to imports (months) 7.7 5.2 6.6 6.4 6.4 5.3 6.1 6.7 284 URUGUAY 7. Long-term external debt Debt outstanding and disbursed 3,114 3,960 5,873 8,152 8,024 9,368 10,580 10,232 Public and publicly guaranteed 3,045 3,833 5,550 7,820 7,699 9,049 10,293 10,044 Official creditors 895 1,588 2,227 3,203 3,207 2,679 2,666 3,057 Multilateral 699 1,259 1,925 3,077 3,095 2,530 2,526 2,932 of which: IBRD 359 513 552 785 816 653 666 713 IDA 0 0 0 0 0 0 0 0 Bilateral 196 329 302 126 112 149 140 125 Private creditors 2,150 2,245 3,323 4,616 4,492 6,370 7,627 6,987 of which: Bonds 567 1,963 2,774 4,166 4,200 6,324 7,590 6,919 Commercial banks 1,576 252 530 436 279 35 28 62 Private nonguaranteed 69 127 322 332 325 319 287 187 of which: Bonds 0 110 300 300 300 300 287 187 Disbursements 346 661 928 450 1,329 2,033 1,476 789 Public and publicly guaranteed 346 591 928 441 1,329 2,033 1,389 789 Official creditors 174 128 300 210 389 205 199 632 Multilateral 90 103 299 200 384 159 189 632 of which: IBRD 51 32 134 144 134 42 74 147 IDA 0 0 0 0 0 0 0 0 Bilateral 85 25 1 10 5 46 10 0 Private creditors 171 463 629 231 940 1,828 1,190 158 of which: Bonds 164 348 615 0 919 1,828 1,189 118 Commercial banks 4 111 1 231 21 0 0 40 Private nonguaranteed 0 70 0 9 0 0 87 0 of which: Bonds 0 70 0 0 0 0 87 0 Principal repayments 434 474 666 402 839 2,267 540 911 Public and publicly guaranteed 398 469 606 400 831 2,262 421 811 Official creditors 71 124 162 215 342 744 230 251 Multilateral 61 117 121 199 329 733 209 231 of which: IBRD 43 78 58 80 104 205 61 85 IDA 0 0 0 0 0 0 0 0 Bilateral 10 7 42 16 13 12 21 20 Private creditors 327 345 443 185 490 1,517 191 560 of which: Bonds 180 273 285 84 292 1,270 181 552 Commercial banks 143 66 154 99 196 245 9 5 Private nonguaranteed 36 5 60 2 8 5 119 100 of which: Bonds 0 0 47 0 0 0 100 100 Interest payments 318 298 413 404 434 580 638 535 Public and publicly guaranteed 312 293 381 377 406 553 612 521 Official creditors 61 124 147 136 152 152 145 129 Multilateral 54 91 134 130 149 149 140 124 of which: IBRD 27 40 42 22 34 41 38 31 IDA 0 0 0 0 0 0 0 0 Bilateral 7 33 13 6 3 3 5 4 Private creditors 252 169 233 241 255 401 467 393 of which: Bonds 61 151 182 228 242 392 465 391 Commercial banks 190 15 51 12 12 9 2 1 Private nonguaranteed 6 4 33 27 27 27 26 13 of which: Bonds 0 3 29 26 26 26 25 13 8. Debt stock-flow reconciliation Total change in external debt stocks -33 243 518 769 -655 -957 1,381 -440 Net flows on external debt -134 281 382 344 171 -2,604 1,104 -212 Cross-currency valuation 77 32 -96 171 -345 196 495 103 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 4 0 Debt buyback 0 0 0 0 0 955 178 542 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 288 290 310 298 293 292 277 257 Interest 123 115 105 95 85 75 65 55 Private creditors Principal 175 123 332 69 13 25 245 261 Interest 462 454 444 433 431 431 420 394 Notes: Data on long-term public and publicly-guaranteed debt prior to 2008 might reflect flows reported to represents transactions as a result of bonds changing holders. Long-term private nonguaranteed debt data only cover Inter-American Development Bank and Bonds. Short term debt data are revised based on reports provided by Central Bank from 1999. 285 UZBEKISTAN 1. Summary external debt data External debt stocks .. 1,799 4,633 4,823 4,282 4,032 3,931 3,995 Long-term external debt .. 1,430 4,224 4,625 4,170 3,874 3,735 3,784 Public and publicly guaranteed .. 1,415 3,762 4,107 3,619 3,290 3,141 3,156 Private nonguaranteed .. 15 462 518 551 584 594 629 Use of IMF credit .. 157 127 19 0 0 0 0 Short-term external debt .. 212 282 178 112 158 196 211 interest arrears on long-term .. 0 3 8 8 0 0 0 Memorandum items .. 0 17 39 35 0 0 0 .. 1,288 3,605 4,041 3,577 3,277 3,122 3,150 .. 142 618 584 592 597 612 635 .. 980 310 667 212 107 405 292 External debt flows Disbursements .. 791 769 601 400 307 380 459 Long-term external debt .. 630 769 601 400 307 380 459 IMF purchases .. 161 0 0 0 0 0 0 Principal repayments .. 149 648 724 642 677 580 562 Long-term external debt .. 149 583 700 623 677 580 562 IMF repurchases .. 0 65 25 18 0 0 0 Net flows .. 563 -223 -167 -308 -316 -163 -88 Long-term external debt .. 481 186 -99 -223 -370 -201 -103 Short-term external debt .. -79 -344 -44 -66 54 38 15 Interest payments .. 95 237 147 145 173 174 130 Long-term external debt .. 80 206 140 141 170 166 122 IMF charges .. 3 9 1 0 0 0 0 Short-term external debt .. 13 23 6 4 3 7 8 2. Other non-debt resource flows Foreign direct investment (net) .. -24 75 187 88 195 739 918 Portfolio equity flows .. 0 0 0 0 0 0 0 Profit remittances on FDI .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. 13 34 44 54 47 70 80 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 28 39 102 72 83 36 47 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 20.8 17.9 17.8 17.5 14.4 Japanese yen .. 3.1 21.2 22.5 21.4 21.2 22.5 26.8 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.1 0.0 0.1 0.5 0.4 0.4 0.3 U.S.dollars .. 66.5 56.7 49.5 52.9 51.9 49.8 48.6 4. Average terms of new commitments Official creditors Interest (%) .. 5.2 6.0 2.1 1.9 2.9 2.9 2.4 Maturity (years) .. 18.1 18.4 27.8 25.8 22.0 20.4 24.8 Grace period (years) .. 5.1 4.4 6.8 7.3 6.7 5.8 6.0 Private creditors Interest (%) .. 7.1 7.3 3.0 0.0 4.3 4.7 4.8 Maturity (years) .. 9.1 6.4 7.6 0.0 6.6 5.4 6.1 Grace period (years) .. 2.5 1.4 2.2 0.0 1.1 0.9 1.6 5. Major economic aggregates Gross national income (GNI) .. 13,324 13,541 11,981 14,283 17,072 22,373 27,924 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) .. 13.5 34.2 40.3 30.0 23.6 17.6 14.3 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) .. 11.8 6.1 3.7 2.6 3.9 5.0 5.3 Multilateral to external debt stocks (%) .. 13.7 9.8 15.4 18.5 20.5 22.3 23.3 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 286 UZBEKISTAN 7. Long-term external debt Debt outstanding and disbursed .. 1,430 4,224 4,625 4,170 3,874 3,735 3,784 Public and publicly guaranteed .. 1,415 3,762 4,107 3,619 3,290 3,141 3,156 Official creditors .. 1,023 2,117 2,583 2,445 2,394 2,466 2,676 Multilateral .. 246 454 742 791 827 876 931 of which: IBRD .. 157 217 312 299 316 317 313 IDA .. 0 0 5 11 26 43 55 Bilateral .. 777 1,663 1,841 1,653 1,567 1,590 1,744 Private creditors .. 393 1,645 1,524 1,175 896 675 480 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 368 220 193 149 125 110 Private nonguaranteed .. 15 462 518 551 584 594 629 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 630 769 601 400 307 380 459 Public and publicly guaranteed .. 619 713 452 255 174 236 319 Official creditors .. 399 409 259 193 157 216 281 Multilateral .. 246 121 165 136 111 100 110 of which: IBRD .. 162 31 23 25 32 17 15 IDA .. 0 0 5 7 13 16 13 Bilateral .. 154 288 94 57 46 116 171 Private creditors .. 219 304 193 62 17 20 37 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 59 1 34 10 19 37 Private nonguaranteed .. 12 56 149 145 133 144 140 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 149 583 700 623 677 580 562 Public and publicly guaranteed .. 148 443 561 510 579 496 458 Official creditors .. 119 148 190 177 237 218 239 Multilateral .. 0 29 61 67 82 61 67 of which: IBRD .. 0 5 19 20 21 25 29 IDA .. 0 0 0 0 0 0 0 Bilateral .. 119 119 129 110 155 157 172 Private creditors .. 29 295 371 333 341 278 219 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 72 57 49 62 51 47 Private nonguaranteed .. 1 140 138 113 99 85 105 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 80 206 140 141 170 166 122 Public and publicly guaranteed .. 79 182 116 117 146 141 114 Official creditors .. 52 75 63 63 93 96 84 Multilateral .. 4 26 27 32 42 48 43 of which: IBRD .. 2 12 11 12 15 18 18 IDA .. 0 0 0 0 0 0 0 Bilateral .. 47 49 36 31 51 49 41 Private creditors .. 27 108 53 53 52 45 30 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 29 11 10 9 9 7 Private nonguaranteed .. 1 24 24 24 24 25 8 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 552 -307 -98 -541 -251 -101 64 Net flows on external debt .. 563 -223 -167 -308 -316 -163 -88 Cross-currency valuation .. -4 -144 113 -242 83 114 154 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 287 296 245 244 239 251 218 176 Interest 86 83 78 72 66 59 52 46 Private creditors Principal 333 268 147 124 90 60 67 30 Interest 19 11 6 3 2 1 1 0 Notes: Data on long-term private nonguaranteed debt for 2008 are World Bank staff estimates. 287 VANUATU 1. Summary external debt data External debt stocks 38.2 48.9 74.5 120.7 82.1 83.1 94.1 138.1 Long-term external debt 28.6 43.9 73.1 83.6 71.9 72.0 74.0 102.0 Public and publicly guaranteed 28.6 43.9 73.1 83.6 71.9 72.0 74.0 102.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 9.6 5.0 1.4 37.1 10.2 11.1 20.1 36.1 interest arrears on long-term 0.0 0.0 0.0 0.1 0.2 0.1 0.1 0.1 Memorandum items 0.0 0.0 0.0 0.4 0.8 0.5 0.6 0.6 28.6 43.9 73.1 83.6 71.9 72.0 74.0 102.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.6 0.0 0.0 0.0 0.0 27.0 External debt flows Disbursements 6.5 3.2 14.2 0.0 0.0 0.0 0.0 27.0 Long-term external debt 6.5 3.2 14.2 0.0 0.0 0.0 0.0 27.0 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.0 0.8 0.9 1.6 1.1 2.2 2.1 2.6 Long-term external debt 1.0 0.8 0.9 1.6 1.1 2.2 2.1 2.6 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 5.7 2.4 13.6 20.4 -28.1 -1.2 6.9 40.4 Long-term external debt 5.6 2.4 13.4 -1.6 -1.1 -2.2 -2.1 24.4 Short-term external debt 0.1 0.0 0.3 22.0 -27.0 1.0 9.0 16.0 Interest payments 1.5 0.8 1.0 1.9 1.5 1.4 1.6 1.7 Long-term external debt 0.7 0.5 0.6 0.9 0.7 1.0 0.8 0.8 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.7 0.3 0.3 1.0 0.8 0.5 0.8 0.8 2. Other non-debt resource flows Foreign direct investment (net) 13.1 31.0 20.3 19.8 13.3 43.4 34.2 34.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 15.2 35.6 21.9 27.1 35.3 34.2 45.6 0.0 Grants (excluding technical coop.) 22.0 22.5 12.0 11.6 13.3 14.8 19.1 63.1 of which: Debt forgiveness grants .. .. 0.5 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 22.2 21.5 20.6 29.1 28.0 36.0 39.9 31.5 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.9 13.6 13.4 13.2 8.1 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 22.4 43.3 56.8 53.2 54.0 54.1 54.1 67.9 4. Average terms of new commitments Official creditors Interest (%) 0.0 0.0 2.0 0.0 0.0 0.0 0.0 2.0 Maturity (years) 0.0 23.0 14.5 0.0 0.0 0.0 0.0 20.0 Grace period (years) 0.0 16.1 3.5 0.0 0.0 0.0 0.0 5.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 162.6 216.8 231.6 311.1 343.7 392.6 479.7 567.4 Exports of goods, services & income 112.7 129.1 186.7 187.6 204.7 215.4 257.0 .. Worker remit. & comp. of employees 8.0 14.0 35.0 4.9 5.1 5.0 5.5 7.0 Imports of goods & services 136.5 164.5 178.8 224.4 258.6 270.7 313.2 .. International reserves 37.7 48.3 38.9 61.8 67.2 104.7 119.6 115.2 Current account balance -6.2 -18.2 5.0 -22.4 -34.0 -30.1 -34.4 .. 6. Ratios External debt stocks to exports (%) 33.9 37.9 39.9 64.3 40.1 38.6 36.6 .. External debt stocks to GNI (%) 23.5 22.6 32.2 38.8 23.9 21.2 19.6 24.3 Debt service to exports (%) 2.1 1.2 1.0 1.8 1.3 1.7 1.4 .. Short-term to external debt stocks (%) 25.1 10.2 1.9 30.8 12.4 13.4 21.4 26.2 Multilateral to external debt stocks (%) 41.6 63.7 86.1 61.5 82.1 81.1 73.6 51.3 Reserves to external debt stocks (%) 98.6 98.7 52.3 51.2 81.9 125.9 127.1 83.4 Reserves to imports (months) 3.3 3.5 2.6 3.3 3.1 4.6 4.6 .. 288 VANUATU 7. Long-term external debt Debt outstanding and disbursed 28.6 43.9 73.1 83.6 71.9 72.0 74.0 102.0 Public and publicly guaranteed 28.6 43.9 73.1 83.6 71.9 72.0 74.0 102.0 Official creditors 27.1 43.5 73.1 83.6 71.9 72.0 74.0 102.0 Multilateral 15.9 31.2 64.1 74.2 67.4 67.4 69.3 70.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 4.0 13.2 12.9 14.2 12.9 13.2 13.4 12.9 Bilateral 11.3 12.3 8.9 9.4 4.5 4.6 4.7 31.1 Private creditors 1.5 0.4 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 6.5 3.2 14.2 0.0 0.0 0.0 0.0 27.0 Public and publicly guaranteed 6.5 3.2 14.2 0.0 0.0 0.0 0.0 27.0 Official creditors 6.5 3.2 14.2 0.0 0.0 0.0 0.0 27.0 Multilateral 3.3 1.4 14.2 0.0 0.0 0.0 0.0 0.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.8 0.4 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 3.2 1.8 0.0 0.0 0.0 0.0 0.0 27.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.0 0.8 0.9 1.6 1.1 2.2 2.1 2.6 Public and publicly guaranteed 1.0 0.8 0.9 1.6 1.1 2.2 2.1 2.6 Official creditors 0.8 0.6 0.9 1.6 1.1 2.2 2.1 2.6 Multilateral 0.5 0.4 0.5 1.2 0.7 1.8 1.7 2.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 0.2 0.3 0.3 0.3 0.4 0.4 Bilateral 0.3 0.2 0.4 0.4 0.4 0.4 0.4 0.4 Private creditors 0.2 0.2 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 0.7 0.5 0.6 0.9 0.7 1.0 0.8 0.8 Public and publicly guaranteed 0.7 0.5 0.6 0.9 0.7 1.0 0.8 0.8 Official creditors 0.6 0.5 0.6 0.9 0.7 1.0 0.8 0.8 Multilateral 0.2 0.3 0.5 0.7 0.6 0.9 0.7 0.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Bilateral 0.4 0.2 0.1 0.1 0.1 0.1 0.1 0.1 Private creditors 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 7.9 3.4 8.8 23.7 -38.6 1.0 11.0 44.0 Net flows on external debt 5.7 2.4 13.6 20.4 -28.1 -1.2 6.9 40.4 Cross-currency valuation 1.1 -0.1 -4.1 3.2 -6.7 2.3 4.1 3.4 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 3.8 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 3.4 3.5 3.5 3.6 4.5 5.4 4.8 4.8 Interest 1.9 1.8 1.8 1.7 1.7 1.6 1.5 1.4 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt are World Bank staff estimates. 289 VENEZUELA, REPUBLICA BOLIVARIANA de 1. Summary external debt data External debt stocks 33,171 35,744 42,338 38,769 44,868 43,731 45,837 50,229 Long-term external debt 28,159 30,442 33,950 30,924 34,760 31,883 30,484 33,235 Public and publicly guaranteed 24,509 28,428 27,817 26,523 31,058 27,149 27,524 29,925 Private nonguaranteed 3,650 2,013 6,132 4,401 3,702 4,734 2,960 3,310 Use of IMF credit 3,012 2,239 203 0 0 0 0 0 Short-term external debt 2,000 3,063 8,186 7,845 10,108 11,848 15,353 16,994 interest arrears on long-term 0 273 59 13 5 2 0 0 Memorandum items 0 1,022 79 3 8 0 0 0 24,509 27,854 27,368 26,445 31,006 27,104 27,507 29,915 3,650 2,588 6,581 4,479 3,754 4,778 2,977 3,320 3,209 1,033 1,683 5,807 6,717 1,220 2,454 4,354 External debt flows Disbursements 4,069 1,829 2,342 5,296 7,246 1,751 2,053 5,557 Long-term external debt 2,226 1,829 2,342 5,296 7,246 1,751 2,053 5,557 IMF purchases 1,843 0 0 0 0 0 0 0 Principal repayments 1,749 2,739 3,428 5,163 2,801 6,509 2,282 2,751 Long-term external debt 1,749 2,278 2,921 5,163 2,801 6,509 2,282 2,751 IMF repurchases 0 462 507 0 0 0 0 0 Net flows 2,036 -1,558 1,614 379 6,716 -3,016 3,278 4,447 Long-term external debt 477 -448 -579 133 4,445 -4,759 -229 2,806 Short-term external debt -284 -648 2,700 246 2,271 1,743 3,507 1,641 Interest payments 3,242 2,433 2,931 2,202 2,930 3,335 3,384 3,124 Long-term external debt 2,993 2,097 2,435 2,095 2,655 2,849 2,509 2,712 IMF charges 37 142 28 0 0 0 0 0 Short-term external debt 212 193 467 108 275 486 876 412 2. Other non-debt resource flows Foreign direct investment (net) 451 985 4,701 1,483 2,602 -508 975 350 Portfolio equity flows 0 270 -574 -170 28 41 66 3 Profit remittances on FDI 224 431 1,424 3,498 3,953 6,540 4,752 4,152 Grants (excluding technical coop.) 5 18 33 18 30 33 51 33 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 24 35 27 31 35 30 21 25 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 10.0 11.5 14.1 14.8 8.2 Japanese yen 0.6 4.2 1.9 0.8 0.5 0.7 1.0 1.0 Pound sterling 1.5 1.2 0.8 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.9 0.7 0.4 0.1 0.0 0.1 0.1 0.1 U.S.dollars 78.2 68.9 83.3 83.2 83.6 80.8 81.5 88.7 4. Average terms of new commitments Official creditors Interest (%) 7.8 6.8 8.0 5.2 6.2 5.6 5.7 3.3 Maturity (years) 15.6 17.2 12.7 9.3 10.4 18.0 20.0 18.0 Grace period (years) 4.9 5.2 2.6 2.9 2.7 7.8 10.5 5.5 Private creditors Interest (%) 8.5 7.7 8.2 7.1 6.6 5.7 7.0 9.2 Maturity (years) 13.6 3.3 6.9 16.1 13.8 11.7 30.2 17.5 Grace period (years) 6.1 3.0 2.5 15.4 13.7 5.2 30.2 17.5 5. Major economic aggregates Gross national income (GNI) 46,254 72,946 115,760 108,779 143,248 183,417 230,636 314,506 Exports of goods, services & income 21,464 22,620 37,760 42,955 61,262 75,493 81,104 105,480 Worker remit. & comp. of employees 1 2 17 143 148 165 151 137 Imports of goods & services 12,883 20,715 25,737 27,241 35,955 48,808 62,444 67,363 International reserves 12,733 10,715 15,899 23,408 29,803 36,715 33,759 43,065 Current account balance 8,279 2,014 11,853 15,519 25,110 26,462 18,098 37,392 6. Ratios External debt stocks to exports (%) 154.5 158.0 112.1 90.3 73.2 57.9 56.5 47.6 External debt stocks to GNI (%) 71.7 49.0 36.6 35.6 31.3 23.8 19.9 16.0 Debt service to exports (%) 23.3 22.9 16.8 17.1 9.4 13.0 7.0 5.6 Short-term to external debt stocks (%) 6.0 8.6 19.3 20.2 22.5 27.1 33.5 33.8 Multilateral to external debt stocks (%) 4.9 9.3 7.6 8.3 6.2 6.9 5.4 5.5 Reserves to external debt stocks (%) 38.4 30.0 37.6 60.4 66.4 84.0 73.7 85.7 Reserves to imports (months) 11.9 6.2 7.4 10.3 9.9 9.0 6.5 7.7 290 VENEZUELA, REPUBLICA BOLIVARIANA de 7. Long-term external debt Debt outstanding and disbursed 28,159 30,442 33,950 30,924 34,760 31,883 30,484 33,235 Public and publicly guaranteed 24,509 28,428 27,817 26,523 31,058 27,149 27,524 29,925 Official creditors 1,933 4,833 6,177 3,781 3,375 3,774 3,378 3,590 Multilateral 1,640 3,323 3,216 3,204 2,786 3,026 2,488 2,753 of which: IBRD 974 1,639 972 294 200 51 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 293 1,510 2,961 577 590 748 890 837 Private creditors 22,577 23,595 21,640 22,743 27,683 23,375 24,145 26,335 of which: Bonds 19,644 20,745 16,217 18,410 23,546 19,478 20,675 23,353 Commercial banks 363 1,233 3,490 3,405 3,194 2,876 2,587 2,347 Private nonguaranteed 3,650 2,013 6,132 4,401 3,702 4,734 2,960 3,310 of which: Bonds 0 114 3,880 3,682 3,670 4,734 2,960 3,310 Disbursements 2,226 1,829 2,342 5,296 7,246 1,751 2,053 5,557 Public and publicly guaranteed 2,226 1,749 2,342 5,036 7,246 1,651 2,053 4,907 Official creditors 1,103 610 786 415 392 1,107 549 710 Multilateral 1,035 284 402 302 173 831 325 622 of which: IBRD 840 47 50 16 13 9 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 69 326 385 113 218 276 224 88 Private creditors 1,122 1,139 1,556 4,621 6,855 544 1,504 4,197 of which: Bonds 599 349 462 4,000 6,143 0 1,250 4,000 Commercial banks 26 616 667 248 367 154 121 145 Private nonguaranteed 0 80 0 260 0 100 0 650 of which: Bonds 0 0 0 260 0 100 0 650 Principal repayments 1,749 2,278 2,921 5,163 2,801 6,509 2,282 2,751 Public and publicly guaranteed 1,576 1,775 2,265 3,293 2,114 5,931 2,008 2,451 Official creditors 50 375 613 838 732 729 985 521 Multilateral 9 202 356 581 530 608 873 376 of which: IBRD 0 116 208 207 106 159 50 0 IDA 0 0 0 0 0 0 0 0 Bilateral 41 173 257 257 202 121 112 145 Private creditors 1,526 1,400 1,652 2,455 1,382 5,202 1,023 1,930 of which: Bonds 254 817 1,119 1,746 646 4,292 209 1,299 Commercial banks 706 45 372 478 444 562 495 349 Private nonguaranteed 173 503 655 1,870 687 578 274 300 of which: Bonds 0 0 0 900 0 546 274 300 Interest payments 2,993 2,097 2,435 2,095 2,655 2,849 2,509 2,712 Public and publicly guaranteed 2,593 1,986 1,867 1,790 2,306 2,411 2,238 2,378 Official creditors 71 298 343 190 202 216 242 237 Multilateral 59 233 259 160 162 175 194 165 of which: IBRD 19 120 91 17 10 6 1 0 IDA 0 0 0 0 0 0 0 0 Bilateral 12 66 84 30 40 41 48 72 Private creditors 2,522 1,688 1,524 1,601 2,104 2,194 1,996 2,141 of which: Bonds 135 1,534 1,298 1,217 1,747 1,834 1,676 1,857 Commercial banks 2,198 65 176 329 298 289 264 241 Private nonguaranteed 400 111 568 304 349 439 271 334 of which: Bonds 0 10 304 290 296 392 271 274 8. Debt stock-flow reconciliation Total change in external debt stocks 792 -1,199 1,290 611 6,099 -1,137 2,106 4,392 Net flows on external debt 2,036 -1,558 1,614 379 6,716 -3,016 3,278 4,447 Cross-currency valuation 379 367 -334 389 -435 436 509 306 9. Debt restructurings Total amount rescheduled 17,659 0 0 0 0 0 0 0 Total amount forgiven 1,727 0 0 0 0 0 1 2 Debt buyback 634 0 0 1,110 419 4,292 175 4 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 483 499 518 501 480 367 257 228 Interest 175 168 155 136 117 97 83 73 Private creditors Principal 536 2,614 1,885 694 1,660 1,854 1,380 2,032 Interest 2,421 2,380 2,161 2,089 2,033 1,858 1,650 1,531 Notes: Long-term private nonguaranteed debt data only cover Bonds. Short-term debt is based on the Central Bank data from 1999. 291 VIETNAM 1. Summary external debt data External debt stocks 23,270 25,428 12,825 18,049 19,114 20,126 23,865 26,158 Long-term external debt 21,378 21,778 11,586 15,631 16,336 17,442 19,022 21,618 Public and publicly guaranteed 21,378 21,778 11,586 15,631 16,336 17,442 19,022 21,618 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 112 377 316 277 203 181 164 121 Short-term external debt 1,780 3,272 923 2,141 2,575 2,503 4,679 4,419 interest arrears on long-term 1,530 2,501 78 54 75 76 49 46 Memorandum items 2,011 8,915 1,378 1,362 1,360 1,361 1,142 1,130 21,378 21,778 11,586 15,631 16,336 17,442 19,022 21,618 0 0 0 0 0 0 0 0 11 2,466 1,191 2,352 2,660 2,297 1,247 2,659 External debt flows Disbursements 13 730 1,273 1,670 2,047 1,228 1,805 1,854 Long-term external debt 13 639 1,273 1,670 2,047 1,228 1,805 1,854 IMF purchases 0 92 0 0 0 0 0 0 Principal repayments 104 225 958 430 519 495 640 775 Long-term external debt 99 225 937 357 466 463 614 736 IMF repurchases 5 0 21 73 54 33 25 39 Net flows -95 823 473 2,120 1,940 660 3,369 822 Long-term external debt -86 414 336 1,313 1,581 766 1,191 1,118 Short-term external debt -4 317 158 880 413 -73 2,203 -257 Interest payments 70 139 352 357 434 453 609 569 Long-term external debt 46 81 298 306 318 329 414 433 IMF charges 0 11 3 2 1 1 1 1 Short-term external debt 23 46 51 49 115 123 194 135 2. Other non-debt resource flows Foreign direct investment (net) 180 1,780 1,298 1,610 1,954 2,400 6,700 9,579 Portfolio equity flows 0 0 0 0 115 1,313 6,243 -578 Profit remittances on FDI 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 96 348 236 414 513 545 657 776 of which: Debt forgiveness grants .. .. 23 1 1 55 2 2 IDA grants .. .. .. 0 2 5 7 5 Memo: technical coop. grants 98 229 245 307 309 353 351 329 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.7 5.7 6.2 6.3 5.3 Japanese yen 2.0 5.6 23.5 27.8 26.0 26.7 28.6 35.0 Pound sterling 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 5.5 8.4 43.3 41.7 45.0 44.3 42.2 38.5 4. Average terms of new commitments Official creditors Interest (%) 5.7 2.3 1.4 1.4 1.3 1.9 1.0 2.2 Maturity (years) 9.6 31.5 36.1 32.9 33.6 33.2 37.5 32.3 Grace period (years) 4.2 9.5 9.6 8.7 9.1 8.7 9.5 8.2 Private creditors Interest (%) 0.0 6.7 0.0 3.9 6.9 4.2 0.0 0.0 Maturity (years) 0.0 7.2 0.0 12.2 10.2 21.1 0.0 0.0 Grace period (years) 0.0 2.0 0.0 2.3 10.1 6.6 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 6,060 20,510 30,726 44,554 51,748 58,543 66,775 87,984 Exports of goods, services & income .. .. 17,481 30,540 36,987 45,594 55,757 71,138 Worker remit. & comp. of employees .. .. .. 3,200 4,000 4,800 5,500 7,200 Imports of goods & services .. .. 18,107 34,590 40,927 49,807 69,140 89,155 International reserves .. 1,324 3,417 7,041 9,051 13,384 23,479 23,890 Current account balance .. .. 1,106 -957 -560 -164 -6,953 -10,706 6. Ratios External debt stocks to exports (%) .. .. 73.4 59.1 51.7 44.1 42.8 36.8 External debt stocks to GNI (%) 384.0 124.0 41.7 40.5 36.9 34.4 35.7 29.7 Debt service to exports (%) .. .. 7.5 2.6 2.6 2.1 2.2 1.9 Short-term to external debt stocks (%) 7.7 12.9 7.2 11.9 13.5 12.4 19.6 16.9 Multilateral to external debt stocks (%) 0.6 1.3 14.8 27.4 26.9 29.1 29.8 30.5 Reserves to external debt stocks (%) .. 5.2 26.6 39.0 47.4 66.5 98.4 91.3 Reserves to imports (months) .. .. 2.3 2.4 2.7 3.2 4.1 3.2 292 VIETNAM 7. Long-term external debt Debt outstanding and disbursed 21,378 21,778 11,586 15,631 16,336 17,442 19,022 21,618 Public and publicly guaranteed 21,378 21,778 11,586 15,631 16,336 17,442 19,022 21,618 Official creditors 20,171 20,450 8,683 14,167 14,292 15,456 17,094 19,718 Multilateral 130 325 1,895 4,937 5,144 5,860 7,106 7,977 of which: IBRD 0 0 0 0 0 0 0 0 IDA 59 231 1,113 3,039 3,187 3,663 4,549 5,074 Bilateral 20,041 20,126 6,787 9,230 9,148 9,596 9,988 11,741 Private creditors 1,207 1,328 2,904 1,464 2,044 1,986 1,928 1,900 of which: Bonds 0 0 560 547 1,271 1,245 1,220 1,194 Commercial banks 684 1,043 1,658 483 438 469 502 537 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 13 639 1,273 1,670 2,047 1,228 1,805 1,854 Public and publicly guaranteed 13 639 1,273 1,670 2,047 1,228 1,805 1,854 Official creditors 13 233 1,177 1,520 1,261 1,151 1,753 1,791 Multilateral 4 100 395 634 639 548 996 864 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 47 174 444 391 340 748 592 Bilateral 9 133 782 887 622 602 756 926 Private creditors 0 406 96 150 786 78 53 63 of which: Bonds 0 0 0 0 750 0 0 0 Commercial banks 0 389 9 150 36 78 53 63 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 99 225 937 357 466 463 614 736 Public and publicly guaranteed 99 225 937 357 466 463 614 736 Official creditors 99 175 134 216 306 318 474 596 Multilateral 3 7 6 23 31 43 61 80 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 1 2 8 14 23 30 37 Bilateral 96 168 128 193 275 275 413 516 Private creditors 0 50 802 141 160 145 140 140 of which: Bonds 0 0 0 13 26 26 26 26 Commercial banks 0 0 617 45 56 53 42 56 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 46 81 298 306 318 329 414 433 Public and publicly guaranteed 46 81 298 306 318 329 414 433 Official creditors 26 50 77 250 257 235 300 320 Multilateral 2 2 14 47 52 55 64 74 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 2 7 28 30 33 34 38 Bilateral 24 47 63 203 205 180 236 246 Private creditors 20 32 220 56 61 94 114 113 of which: Bonds 0 0 23 22 22 57 72 71 Commercial banks 4 24 153 14 24 25 28 32 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 0 628 -10,385 2,058 1,065 1,012 3,739 2,293 Net flows on external debt -95 823 473 2,120 1,940 660 3,369 822 Cross-currency valuation 0 1 -457 480 -1,099 284 622 1,377 9. Debt restructurings Total amount rescheduled 410 89 0 0 201 0 0 0 Total amount forgiven 0 32 10,395 6 3 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 666 752 799 825 892 960 1,069 1,128 Interest 353 361 362 360 353 344 329 310 Private creditors Principal 127 112 99 107 105 96 96 815 Interest 96 93 90 86 82 78 75 46 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. 293 YEMEN, REPUBLIC OF 1. Summary external debt data External debt stocks 6,354 6,251 5,125 5,550 5,439 5,644 6,089 6,258 Long-term external debt 5,162 5,562 4,109 4,861 4,794 5,080 5,506 5,679 Public and publicly guaranteed 5,162 5,562 4,109 4,861 4,794 5,080 5,506 5,679 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 317 376 292 246 169 95 Short-term external debt 1,192 689 699 313 353 318 413 483 interest arrears on long-term 192 473 27 115 94 100 107 112 Memorandum items 845 2,408 297 269 193 143 151 160 5,162 5,562 4,109 4,861 4,794 5,080 5,506 5,679 0 0 0 0 0 0 0 0 201 80 302 505 207 328 509 179 External debt flows Disbursements 305 124 137 166 265 353 390 286 Long-term external debt 305 124 137 166 265 353 390 286 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 81 65 153 154 149 160 198 205 Long-term external debt 79 65 81 113 93 100 112 133 IMF repurchases 1 0 71 41 56 60 87 71 Net flows 386 42 270 27 178 152 280 146 Long-term external debt 226 59 56 53 172 253 278 152 Short-term external debt 161 -17 285 15 61 -41 88 65 Interest payments 88 37 91 69 62 74 72 79 Long-term external debt 28 25 45 62 55 67 65 70 IMF charges 0 0 10 3 3 3 2 1 Short-term external debt 60 11 35 4 4 4 5 7 2. Other non-debt resource flows Foreign direct investment (net) -131 -218 6 144 -302 1,121 917 1,555 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 283 433 855 1,289 1,603 1,403 1,390 1,875 Grants (excluding technical coop.) 238 92 163 175 158 139 179 262 of which: Debt forgiveness grants .. .. 12 16 10 9 9 21 IDA grants .. .. .. 0 0 0 0 29 Memo: technical coop. grants 106 65 49 48 53 62 50 62 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.9 1.7 1.8 1.9 1.8 Japanese yen 4.4 6.1 7.7 7.4 6.5 5.9 5.5 6.2 Pound sterling 0.7 0.6 0.3 0.2 0.1 0.0 0.0 0.0 Swiss franc 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 20.2 21.6 68.2 66.5 67.2 65.1 61.7 59.4 4. Average terms of new commitments Official creditors Interest (%) 1.8 5.1 0.9 1.8 2.4 1.9 2.8 1.9 Maturity (years) 28.6 12.5 36.4 29.4 30.0 28.4 23.7 31.8 Grace period (years) 7.2 3.3 9.6 6.7 8.3 7.8 6.2 7.6 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 4,792 3,678 8,834 12,599 15,210 17,915 22,662 24,438 Exports of goods, services & income 3,026 3,277 5,446 6,432 8,246 9,464 9,480 11,914 Worker remit. & comp. of employees 1,498 1,080 1,288 1,283 1,283 1,283 1,322 1,420 Imports of goods & services 2,579 3,069 4,221 6,368 7,745 9,332 11,092 13,918 International reserves 441 638 2,914 5,687 6,141 7,543 7,757 8,155 Current account balance 739 184 1,337 225 624 206 -1,508 -1,251 6. Ratios External debt stocks to exports (%) 210.0 190.7 94.1 86.3 66.0 59.6 64.2 52.5 External debt stocks to GNI (%) 132.6 169.9 58.0 44.1 35.8 31.5 26.9 25.6 Debt service to exports (%) 5.6 3.1 4.5 3.5 2.6 2.5 2.9 2.4 Short-term to external debt stocks (%) 18.8 11.0 13.6 5.6 6.5 5.6 6.8 7.7 Multilateral to external debt stocks (%) 16.1 20.5 32.7 39.4 40.8 44.4 47.6 48.5 Reserves to external debt stocks (%) 6.9 10.2 56.9 102.5 112.9 133.7 127.4 130.3 Reserves to imports (months) 2.1 2.5 8.3 10.7 9.5 9.7 8.4 7.0 294 YEMEN, REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 5,162 5,562 4,109 4,861 4,794 5,080 5,506 5,679 Public and publicly guaranteed 5,162 5,562 4,109 4,861 4,794 5,080 5,506 5,679 Official creditors 3,504 3,844 4,046 4,785 4,787 5,073 5,499 5,673 Multilateral 1,026 1,278 1,676 2,185 2,219 2,507 2,901 3,036 of which: IBRD 0 0 0 0 0 0 0 0 IDA 602 827 1,216 1,701 1,689 1,894 2,058 2,113 Bilateral 2,478 2,565 2,370 2,599 2,568 2,565 2,598 2,637 Private creditors 1,658 1,718 63 77 7 7 7 6 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 80 80 53 77 7 7 7 6 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 305 124 137 166 265 353 390 286 Public and publicly guaranteed 305 124 137 166 265 353 390 286 Official creditors 139 124 137 166 265 353 390 286 Multilateral 56 109 111 154 217 262 345 241 of which: IBRD 0 0 0 0 0 0 0 0 IDA 27 42 65 92 129 160 122 108 Bilateral 84 15 27 13 49 91 45 44 Private creditors 166 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 79 65 81 113 93 100 112 133 Public and publicly guaranteed 79 65 81 113 93 100 112 133 Official creditors 74 63 81 113 93 99 111 132 Multilateral 41 53 60 76 58 61 66 78 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 8 14 26 27 31 34 38 Bilateral 34 10 20 38 35 38 45 54 Private creditors 5 2 0 0 0 0 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 1 1 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 28 25 45 62 55 67 65 70 Public and publicly guaranteed 28 25 45 62 55 67 65 70 Official creditors 23 25 45 61 55 67 65 70 Multilateral 14 18 21 27 27 30 34 38 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 6 9 15 15 15 15 16 Bilateral 9 7 24 35 28 37 31 32 Private creditors 5 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 759 97 -1,117 91 -111 204 446 169 Net flows on external debt 386 42 270 27 178 152 280 146 Cross-currency valuation 233 -49 -139 78 -208 115 157 45 9. Debt restructurings Total amount rescheduled 98 0 123 36 65 16 17 19 Total amount forgiven 0 0 9 61 116 123 8 20 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 204 217 231 244 265 282 280 283 Interest 84 89 90 89 87 83 79 74 Private creditors Principal 1 1 1 1 1 1 0 0 Interest 0 0 0 0 0 0 0 0 295 ZAMBIA 1. Summary external debt data External debt stocks 6,905 6,958 5,722 7,450 5,377 2,277 2,755 2,986 Long-term external debt 4,543 5,304 4,508 6,409 4,541 1,793 2,093 2,215 Public and publicly guaranteed 4,541 5,291 4,444 5,843 3,945 966 1,113 1,167 Private nonguaranteed 2 13 65 566 596 826 981 1,049 Use of IMF credit 949 1,239 1,138 890 591 41 87 96 Short-term external debt 1,413 415 76 151 244 443 575 676 interest arrears on long-term 738 177 33 62 90 140 149 152 Memorandum items 1,493 772 137 742 340 315 316 322 4,541 5,259 4,413 5,840 3,942 966 1,113 1,166 2 45 95 569 599 827 981 1,049 202 382 330 164 58 139 144 133 External debt flows Disbursements 164 2,606 287 822 236 447 359 255 Long-term external debt 164 352 261 577 220 423 316 244 IMF purchases 0 2,253 26 245 16 24 42 11 Principal repayments 124 2,067 98 392 215 103 75 114 Long-term external debt 100 242 98 143 136 103 75 114 IMF repurchases 25 1,825 0 249 79 0 0 0 Net flows -125 435 159 449 86 493 406 239 Long-term external debt 65 110 163 435 84 319 241 130 Short-term external debt -165 -104 -30 19 65 149 123 98 Interest payments 76 545 88 75 66 55 46 56 Long-term external debt 72 125 80 68 58 46 32 39 IMF charges 2 419 6 4 4 0 0 0 Short-term external debt 3 1 3 3 5 9 13 17 2. Other non-debt resource flows Foreign direct investment (net) 203 97 122 363 357 616 1,324 939 Portfolio equity flows 0 0 6 0 5 2 4 -6 Profit remittances on FDI 115 0 0 238 461 1,107 1,474 1,345 Grants (excluding technical coop.) 663 362 415 829 1,734 4,364 829 944 of which: Debt forgiveness grants .. .. 182 389 1,213 3,819 65 1 IDA grants .. .. .. 10 22 20 20 8 Memo: technical coop. grants 128 164 108 145 166 184 71 83 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 14.7 6.0 20.8 18.7 15.7 Japanese yen 10.0 11.2 13.9 9.7 1.2 0.0 0.0 0.0 Pound sterling 8.5 7.7 3.9 5.7 5.1 0.7 0.5 0.3 Swiss franc 0.5 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 28.1 39.6 61.7 59.0 72.8 39.1 41.0 39.1 4. Average terms of new commitments Official creditors Interest (%) 6.5 1.5 0.8 0.8 0.8 0.8 1.3 0.8 Maturity (years) 20.7 37.3 39.6 40.9 35.8 37.3 31.5 46.3 Grace period (years) 6.6 10.3 10.1 10.1 8.2 9.9 7.7 10.3 Private creditors Interest (%) 11.0 10.5 0.0 0.0 0.0 2.0 0.0 3.0 Maturity (years) 6.9 9.2 0.0 0.0 0.0 15.2 0.0 3.9 Grace period (years) 1.4 2.9 0.0 0.0 0.0 4.7 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,008 3,235 3,082 5,026 6,761 9,507 10,026 12,986 Exports of goods, services & income 1,362 .. 891 2,157 2,586 4,233 4,878 5,352 Worker remit. & comp. of employees .. .. .. 48 53 58 59 68 Imports of goods & services 2,336 .. 1,496 2,556 3,239 4,411 6,047 6,894 International reserves 201 223 245 337 560 720 1,090 1,096 Current account balance -594 .. -591 -419 -600 126 -698 -1,046 6. Ratios External debt stocks to exports (%) 507.0 .. 642.0 345.4 207.9 53.8 56.5 55.8 External debt stocks to GNI (%) 229.5 215.1 185.7 148.2 79.5 24.0 27.5 23.0 Debt service to exports (%) 14.7 .. 20.8 21.6 10.9 3.8 2.5 3.2 Short-term to external debt stocks (%) 20.5 6.0 1.3 2.0 4.5 19.5 20.9 22.6 Multilateral to external debt stocks (%) 20.1 30.5 42.0 44.9 58.2 30.0 27.9 27.7 Reserves to external debt stocks (%) 2.9 3.2 4.3 4.5 10.4 31.6 39.6 36.7 Reserves to imports (months) 1.0 .. 2.0 1.6 2.1 2.0 2.2 1.9 296 ZAMBIA 7. Long-term external debt Debt outstanding and disbursed 4,543 5,304 4,508 6,409 4,541 1,793 2,093 2,215 Public and publicly guaranteed 4,541 5,291 4,444 5,843 3,945 966 1,113 1,167 Official creditors 4,097 5,080 4,412 5,404 3,644 861 1,004 1,053 Multilateral 1,389 2,120 2,403 3,348 3,129 682 768 828 of which: IBRD 539 163 25 0 0 0 0 0 IDA 274 1,270 1,823 2,637 2,488 260 323 371 Bilateral 2,708 2,960 2,009 2,055 515 179 236 225 Private creditors 444 210 31 439 301 105 108 114 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 70 16 0 3 5 57 61 63 Private nonguaranteed 2 13 65 566 596 826 981 1,049 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 164 352 261 577 220 423 316 244 Public and publicly guaranteed 162 351 251 199 116 166 119 123 Official creditors 117 327 251 196 113 113 117 112 Multilateral 106 251 249 196 111 110 80 105 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 209 210 141 77 40 51 51 Bilateral 11 76 2 1 2 4 37 8 Private creditors 46 24 0 3 3 52 2 10 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 8 0 3 3 52 2 0 Private nonguaranteed 2 1 10 379 105 257 197 121 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 100 242 98 143 136 103 75 114 Public and publicly guaranteed 100 241 79 78 71 67 32 61 Official creditors 43 180 79 65 59 66 31 53 Multilateral 37 120 51 33 21 41 30 29 of which: IBRD 5 50 8 3 0 0 0 0 IDA 0 2 4 0 1 17 0 1 Bilateral 5 60 28 32 38 25 1 24 Private creditors 57 61 1 13 12 1 2 8 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 0 0 1 2 2 Private nonguaranteed 0 1 18 64 66 36 43 53 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 72 125 80 68 58 46 32 39 Public and publicly guaranteed 72 125 76 43 29 23 9 15 Official creditors 43 116 76 42 29 22 8 13 Multilateral 33 65 33 26 25 19 8 9 of which: IBRD 1 15 3 0 0 0 0 0 IDA 0 9 13 14 16 11 2 3 Bilateral 10 51 42 16 4 3 0 4 Private creditors 29 9 0 1 0 0 1 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 1 2 Private nonguaranteed 0 0 4 25 28 23 23 24 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 351 149 -137 660 -2,073 -3,099 478 231 Net flows on external debt -125 435 159 449 86 493 406 239 Cross-currency valuation 302 -103 -289 208 -524 -2,444 37 11 9. Debt restructurings Total amount rescheduled 690 20 169 1 58 8 51 0 Total amount forgiven 162 3 56 76 1,469 3,000 12 12 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 65 54 48 48 43 46 46 46 Interest 14 12 12 11 10 10 9 9 Private creditors Principal 222 157 146 88 71 54 46 38 Interest 40 30 21 15 11 8 5 3 Notes: Zambia was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. Data on long-term public and publicly guaranteed debt from 2007 are World Bank staff estimates based on reports provided by the country. Data on long-term private nonguaranteed debt from 2007 are World Bank staff estimates based on government reports. 297 ZIMBABWE 1. Summary external debt data External debt stocks 3,279 4,989 3,827 4,788 4,255 4,651 5,292 5,199 Long-term external debt 2,681 3,843 2,979 3,610 3,249 3,428 3,751 3,696 Public and publicly guaranteed 2,496 3,462 2,774 3,564 3,217 3,409 3,735 3,683 Private nonguaranteed 185 381 205 46 32 19 16 13 Use of IMF credit 7 461 281 293 111 113 118 114 Short-term external debt 591 685 568 884 896 1,110 1,423 1,389 interest arrears on long-term 0 3 55 487 539 621 720 798 Memorandum items 0 21 167 1,630 1,546 1,816 2,083 2,206 2,495 3,462 2,767 3,557 3,210 3,409 3,735 3,683 186 381 212 53 39 19 16 13 468 218 50 7 11 201 0 0 External debt flows Disbursements 424 654 185 98 25 31 160 28 Long-term external debt 424 574 185 98 25 31 160 28 IMF purchases 0 80 0 0 0 0 0 0 Principal repayments 270 398 282 107 210 32 39 8 Long-term external debt 247 398 212 86 45 29 39 6 IMF repurchases 24 0 70 21 165 3 0 2 Net flows 335 442 -330 53 -224 131 335 -92 Long-term external debt 177 176 -27 12 -20 2 121 22 Short-term external debt 181 187 -233 62 -40 132 214 -112 Interest payments 201 238 138 23 27 53 41 21 Long-term external debt 149 189 81 10 7 3 13 5 IMF charges 2 13 10 0 0 23 0 0 Short-term external debt 49 35 48 13 19 27 27 16 2. Other non-debt resource flows Foreign direct investment (net) -12 118 23 9 103 40 69 52 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 92 0 0 0 0 0 0 0 Grants (excluding technical coop.) 199 308 113 159 317 222 433 572 of which: Debt forgiveness grants .. .. 0 0 0 0 2 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 103 132 74 54 65 66 46 43 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 33.5 31.7 33.4 33.9 32.5 Japanese yen 2.1 3.6 5.4 5.1 5.3 4.9 4.7 6.0 Pound sterling 13.8 6.7 5.5 5.9 5.9 6.3 5.8 4.4 Swiss franc 0.9 0.9 0.4 0.4 0.4 0.4 0.4 0.5 U.S.dollars 29.9 26.2 29.9 28.2 29.0 28.2 29.7 30.7 4. Average terms of new commitments Official creditors Interest (%) 6.4 3.0 4.8 0.8 3.0 6.1 0.0 0.0 Maturity (years) 23.1 23.3 12.9 13.7 15.0 4.1 0.0 0.0 Grace period (years) 4.7 6.8 3.6 3.9 4.5 0.5 0.0 0.0 Private creditors Interest (%) 7.2 6.1 13.9 4.1 6.5 0.0 0.0 0.0 Maturity (years) 10.5 8.8 9.8 8.6 5.5 0.0 0.0 0.0 Grace period (years) 1.5 1.6 4.1 2.6 0.9 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 8,494 6,789 7,145 4,503 3,220 .. .. .. Exports of goods, services & income 2,035 .. .. .. .. .. .. .. Worker remit. & comp. of employees 1 .. .. .. .. .. .. .. Imports of goods & services 2,287 .. .. .. .. .. .. .. International reserves 295 888 321 .. .. .. .. .. Current account balance -140 .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 161.1 .. .. .. .. .. .. .. External debt stocks to GNI (%) 38.6 73.5 53.6 106.3 132.1 .. .. .. Debt service to exports (%) 23.1 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 18.0 13.7 14.8 18.5 21.0 23.9 26.9 26.7 Multilateral to external debt stocks (%) 19.4 29.9 35.3 33.7 34.9 33.3 30.4 30.9 Reserves to external debt stocks (%) 9.0 17.8 8.4 .. .. .. .. .. Reserves to imports (months) 1.5 .. .. .. .. .. .. .. 298 ZIMBABWE 7. Long-term external debt Debt outstanding and disbursed 2,681 3,843 2,979 3,610 3,249 3,428 3,751 3,696 Public and publicly guaranteed 2,496 3,462 2,774 3,564 3,217 3,409 3,735 3,683 Official creditors 1,540 2,798 2,437 3,089 2,789 2,946 3,247 3,236 Multilateral 637 1,491 1,352 1,611 1,485 1,547 1,611 1,605 of which: IBRD 381 560 416 467 437 445 455 464 IDA 67 336 437 516 478 501 522 519 Bilateral 903 1,307 1,085 1,477 1,304 1,399 1,636 1,631 Private creditors 956 664 337 475 428 463 488 447 of which: Bonds 293 120 0 0 0 0 0 0 Commercial banks 208 162 198 295 264 287 306 264 Private nonguaranteed 185 381 205 46 32 19 16 13 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 424 574 185 98 25 31 160 28 Public and publicly guaranteed 297 345 139 90 25 28 160 28 Official creditors 158 232 125 63 17 23 160 13 Multilateral 72 125 44 9 7 2 0 0 of which: IBRD 40 32 19 0 0 0 0 0 IDA 0 15 8 0 0 0 0 0 Bilateral 86 106 81 54 10 21 160 13 Private creditors 139 114 15 27 8 5 0 14 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 29 72 11 3 4 0 0 0 Private nonguaranteed 127 229 46 8 0 4 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 247 398 212 86 45 29 39 6 Public and publicly guaranteed 229 307 147 64 31 13 36 3 Official creditors 78 166 114 58 21 11 36 3 Multilateral 46 77 77 6 5 2 2 3 of which: IBRD 33 47 46 2 2 0 0 0 IDA 0 1 0 0 0 0 0 0 Bilateral 32 89 37 51 16 9 33 0 Private creditors 151 142 33 6 10 2 0 0 of which: Bonds 30 30 0 0 0 0 0 0 Commercial banks 46 32 12 0 1 0 0 0 Private nonguaranteed 18 91 65 22 14 16 3 3 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 149 189 81 10 7 3 13 5 Public and publicly guaranteed 141 163 64 7 3 2 13 5 Official creditors 67 115 51 6 2 2 13 5 Multilateral 43 81 37 5 2 0 0 1 of which: IBRD 33 46 26 1 1 0 0 0 IDA 0 2 1 0 0 0 0 0 Bilateral 24 34 14 1 0 2 12 4 Private creditors 74 48 13 0 1 0 0 0 of which: Bonds 13 6 0 0 0 0 0 0 Commercial banks 28 11 5 0 0 0 0 0 Private nonguaranteed 9 26 17 3 4 0 1 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 459 503 -495 304 -533 396 641 -94 Net flows on external debt 335 442 -330 53 -224 131 335 -92 Cross-currency valuation 148 23 -171 150 -289 168 174 -60 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 24 66 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 459 357 206 124 98 77 63 59 Interest 67 45 28 19 15 13 11 10 Private creditors Principal 25 7 1 1 1 1 1 0 Interest 2 0 0 0 0 0 0 0 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. 299 About the data Data sources from which the tables in this publication, the GDF T he principal sources of information for the tables in this volume are reports to the World Bank through the World Bank's Debtor Reporting CD-ROM, and the GDF Online are produced. Data on exports and imports (on a balance of payments basis), international reserves, and cur- System (DRS) from member countries that have rent account balances, foreign direct investment received either International Bank for Reconstruc- (FDI), portfolio equity flows and profit remit- tion and Development (IBRD) loans or Interna- tances on FDI are drawn mainly from the files tional Development Association (IDA) credits. of the IMF, supplemented by World Bank staff The DRS has its origin in the World Bank's need estimates based on UNCTAD reports. Balance of to monitor and assess the financial position of payments data are presented according to the fifth its borrowers. Since 1951 borrowers have been edition of the IMF's Balance of Payments Manual, required to provide statistics on their public ex- which made several adjustments to its presenta- ternal debt and private sector debt that benefits tion of trade statistics. Coverage was expanded from a public guarantee. In its design, consistency, to include in imports the value of goods received and continuity of coverage, the DRS is a unique for processing and repair (on a gross basis). Their resource. Reporting countries submit detailed re- subsequent re-export is recorded in exports (also ports on the annual status, transactions, and terms on a gross basis). This approach will cause a coun- of the long-term external debt of public agencies try's imports and exports to increase but without and that of private ones guaranteed by a public affecting the balance of goods. In addition, all agency in the debtor country. The DRS maintains capital transfers, which were included with cur- these records on a loan-by-loan basis. In 1973 rent transfers in the fourth edition of the Balance coverage of the DRS was expanded to include pri- of Payments Manual, are now shown in a separate vate sector nonguaranteed borrowing, but for this capital (as opposed to financial) account and so category of debt, data are provided by borrowers do not contribute to the current account balance. in aggregate rather than loan by loan. Official aid flows come from data collected and Data submitted to the DRS are processed in published by the Development Assistance Com- the World Bank External Debt (WBXD) system, mittee (DAC) of the Organization for Economic along with additional information received from Co-Operation and Development (OECD). Short- the files of the African Development Bank, the term external debt data are as reported by debtor Asian Development Bank, the Inter-American countries or are estimates based on Bank for Inter- Development Bank (IDB), the International Mon- national Settlements (BIS) quarterly series of com- etary Fund (IMF), institutions of the World Bank mercial banks' claims on developing countries. Group (IBRD and , IDA), the European Bank for For some countries estimates were prepared by Reconstruction and Development (EBRD), and pooling creditor and debtor information. Data on the United Nations Conference on Trade and De- the gross national income (GNI) of most develop- velopment (UNCTAD). The WBXD is an internal ing countries are collected from national statistical system of the World Bank. Among its outputs is organizations or central banks by visiting and resi- the Global Development Finance (GDF) database, dent World Bank missions. 301 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Every effort has been made to ensure the at the annual average exchange rate for the year. accuracy and completeness of the external debt Debt outstanding (disbursed and undisbursed) at statistics. Coverage has been improved through the end of a given year (stock) is converted at the the efforts of the reporting agencies and close exchange rate in effect at the end of the relevant collaboration between the Bank and our partners year. Consequently, year-to-year changes in debt COMSEC and UNCTAD, who provide debt re- outstanding and disbursed may not be equal to net cording and reporting systems across the globe, flows (disbursements less principal repayments); as well as the work of the World Bank missions, similarly, changes in debt outstanding (including which visit member countries to gather data and undisbursed debt) may not equal commitments to provide technical assistance on debt issues. less repayments. Discrepancies will be particu- Nevertheless, quality and coverage vary among larly significant when exchange rates have moved debtors and may also vary for the same debtor sharply during the year. Projected debt service is from year to year. Data on long-term external converted to U.S. dollars at rates in effect at the debt reported by member countries are checked end of December 2008. against, and supplemented by, data from several Beginning with 1991, all ruble debt owed to other sources. Among these are the statements and the former Soviet Union has been converted at a reports of several regional development banks, rate of US$1 0.6 ruble, except in cases where a government lending agencies, and official govern- bilateral agreement specifying a different conver- ment Web sites. sion rate is in place. Adoption of this methodol- ogy does not constitute an endorsement by World Bank staff of the appropriateness or validity of the Methodology exchange rate used. This is a matter to be resolved Aggregations bilaterally between the Russian Federation and its Total debt stock and other aggregate measures are debtor countries. derived from the summation of loan level data on Starting with the 1988­89 edition of World stocks and flows after conversion to a common Debt Tables (the predecessor of GDF), all data currency. Other tabulations are compiled based pertaining to IBRD loans from 1985 onward are on terms and conditions reported in the loan level recorded at their current market value. Starting data, such as currency composition, cancellations, with the 1991­92 edition, all data pertaining to rescheduling of other liabilities into long-term Asian Development Bank loans from 1989 on- public and publicly guaranteed external debt, and ward are recorded at their current market value. debt buybacks. Starting with the 1998 edition, all data pertain- Aggregates for regional and income groups ing to African Development Bank and African are based on the World Bank's operational clas- Development Fund loans from 1997 onward are sifications, which may differ from common geo- recorded at their current market value. graphic usage or income groups used by other organizations. Country classifications of DRS Debt stock and flow reconciliation reporting countries in 2008 are shown in country Because of currency conversions and the timing groups in the back of the publication. The same of transactions, there may be differences between classification is used for all historical data shown the change in aggregate stocks from one period in Global Development Finance and the GDF On- to the next and flows during the relevant period, line database. and changes in debt outstanding, including undis- bursed, will therefore, differ from commitments Currency conversion less repayments. Data on external obligations are normally re- Changes in the stock of debt from one period ported to the World Bank in the currency of to the next can be attributed to five factors: the net repayment and are converted into a common cur- flow of debt, the net change in interest arrears, the rency (usually U.S. dollars) using official exchange capitalization of interest, reduction in debt result- rates published by the IMF. ing from debt forgiveness or other debt reduction Commitments, disbursements, and debt ser- mechanisms, and cross-currency valuation effects. vice payments (flows) are converted to U.S. dollars Any residual difference in the change in stock not 302 A B O U T T H E D A T A explained by one of the factors identified above external debt is restructured into a long-term ob- may indicate inconsistencies in the reported data ligation, the stock of short-term external debt will or specific phenomena prevailing in an individual decline and the stock of long-term external debt country, for example an incomplete historical se- will rise by the amount of short-term debt restruc- ries for all categories of debt. Starting in 1989 the tured. In the event of a debt swap of long-term ex- GDF includes a debt stock reconciliation but not all ternal debt (external debt-to-equity, external debt- components are shown in the GDF print edition. for-nature, or external debt-for-development), the face value of the external debt swapped will be External debt restructuring recorded as a decline in long-term external debt Starting in 1985 the World Bank External Debt stock but no flow transaction (principal repay- System (WBXD) includes information on the re- ment) will be recorded. structuring of debt by official creditors in the con- text of the Paris Club, restructuring by commercial Projections of future disbursements and debt creditors, debt swap operations, buybacks, and service payments bond exchanges. It attempts to capture accurately The WBXD system projects future disbursements the impact of debt restructuring on both external and future debt service payments on the assump- debt stocks and external debt flows, consistent tion that every existing loan commitment will be with the terms on which the restructuring takes fully utilized and repaid in full. place. In compiling and presenting external debt data, a distinction is made between cash flows and Future disbursements imputed flows. Based on this criterion, restruc- Disbursement projections are made using one of tured service payments and the shift in liabilities the following methods: from one financial instrument to another as a result of debt restructuring are considered to be · Specific schedules: Debtor countries are re- imputed flows. Both cash flows and imputed flows quested to submit a schedule of future disburse- are recorded separately in WBXD. ments, if available, at the time each new loan is The imputed flows and stock changes associ- first reported. ated with debt restructuring are included in the · Standard schedules: In the absence of specific GDF tables and GDF database to complement the schedules, the WBXD system projects the future cash-basis transactions recorded in the main body disbursement schedule, based on the undisbursed of the data. This encompasses information on the balance of each loan at the end of the most recent debt stock and debt flows restructured each year, reporting period. the amount of principal forgiven (interest for- given is shown as a memorandum item), and the These projected schedules are based on pro- amount of external debt stock reduced either by files derived from the disbursement pattern of forgiveness or a debt buyback operation. Changes comparable loans that fully disbursed. Thirty dif- in creditor and debtor that result from debt re- ferent profiles have been compiled corresponding structuring are also reflected. For example, when to each category of creditor and, in the case of insured commercial credits are rescheduled, the official creditors, for concessional and nonconces- creditor classification shifts from private to official sional loans. Each profile is derived by applying (bilateral), reflecting the assumption of the assets regression analysis techniques to a body of data by the official credit insurance agencies in the cred- on actual disbursements for each fully disbursed itor country. The GDF data will show a reduction loan in the WBXD database. The profiles are pe- in the external debt owed to the original private riodically updated to take into account the evolv- creditors equal to the amount of debt restructured ing pattern of disbursements observed for fully and a corresponding increase in the debt owed to disbursed loans. new official creditor. Similarly, on the debtor side when a government accepts responsibility for the Future external debt service payments are gener- payment of restructured debt previously owed by ated by the WBXD system based on the repayment a private enterprise, the relevant change in debtor terms of each loan. Principal repayments (amor- category will be reflected. Likewise, if short-term tization) are based on the amount of the loan 303 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 commitment. If the amortization schedule follows debt outstanding, and a net reduction in interest a set pattern, for example equal semi-annual pay- arrears. Clearance of interest arrears through debt ments, repayments are calculated automatically by restructuring or forgiveness will be recorded as a WBXD using the loan commitment amount, the reduction in the level of short-term debt outstand- first and final payment dates, and the frequency of ing and a net reduction in interest arrears. When the payments. If future payments are irregular, the interest interests are restructured they will almost WBXD system requires a schedule. always be capitalized: this will be recorded as an increase in long-term debt outstanding equal to Future interest payments are generated by the the amount of interest capitalized and the reduc- WBXD system based on the disbursed and out- tion in short-term debt outstanding noted above. standing balance of the loan at the beginning of the period. Based on the interest rate specified in the loan contract, the first and final interest pay- ment dates, and the frequency of payments, the External debt and its components WBXD system calculates the stream of future interest payments due. If interest payments are irregular, the WBXD system requires a schedule. T his section describes the compilation of the major components of external debt included in the GDF tables and database and the relation- ship between them, as shown in the figure on Future debt service payments are the sum of next page. Information about general methods of future principal and interest payments due on compiling external debt data are discussed in the existing commitments, including the undisbursed Methodology section. For concise definitions, see portion. They do not include debt service pay- the Glossary. ments that may become due as a result of new loans contracted in subsequent years. Nor do Total external debt they take into account the impact of any change Total external debt shown in the GDF is the sum to future debt service obligations resulting from of long-term external debt, short-term debt, and actions, such as prepayment, rescheduling, or can- the IMF credit. It represents the total debt owed cellations that occurred after the most recent year- to nonresident creditors and repayable in foreign end data reported to the DRS. currencies by public and private entities in the Both projected disbursements and future debt country. (Debt repayable in domestic currency is service payments are converted into U.S. dollars not included.) using end-December 2008 exchange rates. Like- wise, future interest payments on loans with a Short-term debt variable rate interest rate, for example loans from Short-term debt is defined as external debt with an commercial banks tied to the London Interbank original maturity of one year or less. The World Offer Rate (LIBOR), are based on the interest rate Bank's Debtor Reporting System (DRS) requires prevailing at end-December 2008. debtor countries to report only on their long-term external debt. However, in order to present a com- Treatment of arrears prehensive picture of total external obligations The DRS collects information on arrears of both the World Bank encourages debtor countries to principal and interest. Principal in arrears is in- provide information, on a voluntary basis, on their cluded in the amount of long-term external debt short-term external obligations. outstanding and shown separately. Interest in By its nature, short-term external debt is dif- arrears on long-term external debt and interest ficult to monitor: loan-by-loan registration is nor- in arrears on the use of IMF credit are included mally impractical, and monitoring systems typi- as part of short-term external debt outstanding, cally rely on information requested periodically and are shown separately. Clearance of interest in by the central bank from the banking sector. The arrears by repayment will be recorded as an inter- World Bank regards the debtor country as the au- est payment in the relevant creditor category of thoritative source of information on its short-term the loan(s) on which the arrears were incurred, a debt. Where such information is not made avail- corresponding reduction in the level of short-term able from the debtor country, data from creditor 304 A B O U T T H E D A T A Total external debt Short-term Use of IMF Long-term debt debt credits by debtor Private Public and publicly nonguaranteed debt guaranteed debt by creditor Official Private creditors creditors Commercial Multilateral Bilateral Bonds Other banks sources may be used to get an indication of the quarterly series over consecutive periods, but valu- magnitude of a country's short-term external debt. ation adjustments resulting from exchange rate The most important source is the BIS quarterly se- movements will affect the calculations, as will ries showing the maturity distribution of commer- prepayment and refinancing of long-term maturi- cial banks' claims on developing countries. These ties falling due. Where short-term external debt data are reported on the basis of residual maturity has been rescheduled, lags in reporting and differ- but an estimate of short-term external liabilities ences in the treatment of the rescheduled external by original maturity can be derived by deducting debt by debtors and creditors may result in double from claims due in one year those that, 12 months counting. earlier, had a maturity of between one and two The information on short-term debt shown years. However, not all commercial banks report in this publication comes primarily from creditor to the BIS in a way that allows the full maturity sources. Unless otherwise specified in the coun- distribution to be determined, and the BIS data try tables, the data for short-term debt are World include liabilities only to banks within the BIS Bank staff estimates based on the information on reporting area. Consequently the results should be international bank lending collected by the BIS. interpreted with caution. Interest in arrears on long-term external debt and The flow of short-term debt may be derived interest in arrears on the use of IMF credit are added from the change in claims (stock) data in the BIS to short-term debt, and are separately identified. 305 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Use of IMF credit data are available only where countries have reg- Data related to the operations of the IMF are pro- istration requirements for private nonguaranteed vided by the IMF Treasurer's Department. They debt in place, most commonly in connection with are converted from special drawing rights (SDRs) exchange controls. Where formal registration of into dollars using end-of-period exchange rates private nonguaranteed debt is not mandatory, for stocks and average-over-the-period exchange compilers must rely on balance of payments data rates for flows. IMF trust fund (TF) operations and financial surveys. under the Enhanced Structural Adjustment Facil- The data on private nonguaranteed debt in this ity (ESAF), Extended Fund Facility (EFF), Poverty publication is as reported or as estimated, for coun- Reduction and Growth Facility (PRGF), and tries where this type of external debt is known to be Structural Adjustment Facility (SAF--renamed to significant. The estimation of private nonguaran- ESAF in 1999) are presented together with all of teed debt starts from an assessment of the stock of the Fund's special facilities (buffer stock, supple- such debt outstanding based on data available from mental reserve, compensatory and contingency, oil creditor sources. Flows are derived from the change facilities, and other facilities). in stock over consecutive periods, adjusted for the effect of exchange rate movements and assuming Long-term debt the currency composition mirrors that public and Long-term debt has an original maturity of more publicly guaranteed debt, and for any known debt than one year. It comprises the obligations of both restructuring. Principal payments are estimated on public and private debtors. Private nonguaranteed the basis of the average maturity observed for loans debt comprises the external obligations of private to private sector borrowers in countries reporting debtors that are not guaranteed for repayment by to the DRS and the stock of debt outstanding. Inter- a public entity in the debtor country. est payments are estimated on the basis of the stock Public and publicly guaranteed debt com- of debt outstanding and interest rates prevailing in prises the external obligations of public debtors international capital markets. and has two components: public debt which is Balance of payments data provide a useful borrowing by the national government, a political guideline in the estimation process: private non- subdivision (or an agency of either), or autono- guaranteed external debt may be derived as a re- mous public bodies; and publicly guaranteed debt, sidual between net long-term external borrowing which is borrowing by a private agency that is recorded in the balance of payments and net long- guaranteed for repayment by a public entity. term public and publicly guaranteed external debt reported to the DRS. Private nonguaranteed debt The DRS reporting requirements were expanded Public and publicly guaranteed debt in 1973 to include long-term private nonguaran- Data related to public and publicly guaranteed teed debt. Data are reported annually on an aggre- debt are reported to the DRS on a loan-by-loan gate basis and provide, for the reporting year, data basis. The data provide annual information on on the total amount of disbursed and outstanding the disbursed and outstanding balance and the debt, disbursements, principal repayments, interest undisbursed balance of each loan, the cumulative payments, principal and interest rescheduled, and disbursements, principal and interest paid and projected principal and interest payments for fu- principal and interest restructured in the reporting ture years. The aggregate data are usually reported year, and the stock of any outstanding payments in dollars and no information on the underlying arrears of principal and interest. Detailed informa- currency composition is given. tion on the terms and conditions of each loan is DRS reporting countries recognize the impor- also reported. Public debt and publicly guaranteed tance of monitoring borrowing by their private debt are shown as a single line in this publication sector, particularly when it constitutes a significant and then further disaggregated by creditor type portion of total external debt, but many countries and, in the case of private creditors, by type of acknowledge the difficulty of this process. Detailed credit instrument. 306 A B O U T T H E D A T A Official creditors agencies such as the U.S. Department of Agricul- Official creditors include multilateral and bilateral ture or the Federal Home Loan Bank. Member lenders. In general official creditors make loans countries of the OECD Development Assistance (and, in some cases, provide grants) to public bod- Committee and some other countries also report ies, although in some cases they may lend to other information on loans extended bilaterally or offi- entities with a public guarantee. cially guaranteed to the Creditor Reporting System (CRS) of the OECD. Multilateral creditors are international financial institutions such as the World Bank, regional Private creditors development banks, and other multilateral and Private creditors include commercial banks, bond- intergovernmental agencies whose lending is ad- holders, and other private creditors. This line ministered on a multilateral basis. Funds adminis- includes only publicly guaranteed creditors. Non- tered by an international financial organization on guaranteed private creditors are shown separately. behalf of a single donor government constitute bi- lateral loans (or grants). For lending by a number Bonds include publicly issued or privately placed of multilateral creditors the data presented in this bonds. publication are taken from the creditors' records: these include the African Development Bank, the Commercial banks are loans from private banks Asian Development Bank, the Inter-American and other private financial institutions. Development Bank, the International Bank for Reconstruction and Development (IBRD), and Other private creditors include credits from the International Development Association (IDA). manufacturers, exporters, and other suppliers of (IBRD and IDA are the institutions of the World goods, and bank credits covered by a guarantee Bank.) of an export credit agency. This line is included in the GDF database but not shown in the published Bilateral creditors are governments and their tables. It can be obtained as the difference between agencies, including central banks, aid agencies, total private creditors and bonds and commercial official export credit agencies, and autonomous banks. 307 Country groups Regional groups East Asia and Pacific Russian Federation (P) Middle East and North Africa Côte d'Ivoire (A) Serbiaa/b(A) Eritrea (A) Cambodia (A) Tajikistan (P) Algeria (A) Ethiopia (A) China (P) Turkey (A) Djibouti (A) Gabon (P) Fiji (A) Turkmenistan (E) Egypt, Arab Rep. of (A) Gambia, The (E) Indonesia (A) Ukraine (A) Iran, Islamic Rep. of (A) Ghana (A) Lao PDR (P) Uzbekistan (A) Jordan (A) Guinea (E) Malaysia (E) Lebanon (A) Guinea-Bissau (A) Mongolia (E) Latin America and the Caribbean Morocco (A) Kenya (A) Myanmar (E) Tunisia (A) Lesotho (A) Papua New Guinea (A) Argentina (A) Yemen, Republic of (A) Liberia (E) Philippines (A) Belize (A) Madagascar (A) Samoa (P) Bolivia (A) South Asia Malawi (A) Solomon Islands (A) Brazil (A) Mali (A) Thailand (E) Chile (A) Afghanistan (A) Mauritania (A) Tonga (A) Colombia (A) Bangladesh (P) Mauritius (A) Vanuatu (E) Costa Rica (A) Bhutan (A) Mozambique (A) Vietnam (E) Dominica (A) India (A) Niger (P) Dominican Republic (A) Maldives (A) Nigeria (P) Europe and Central Asia Ecuador (A) Nepal (A) Rwanda (E) El Salvador (A) Pakistan (A) São Tomé and Principe (P) Albania (A) Grenada (A) Sri Lanka (A) Senegal (A) Armenia (A) Guatemala (A) Seychelles (A) Azerbaijan (A) Guyana (A) Sub-Saharan Africa Sierra Leone (P) Belarus (A) Haiti (P) Somalia (E) Bosnia and Herzegovinaa (A) Honduras (A) Angola (A) South Africa (P) Bulgaria (A) Jamaica (A) Benin (P) Sudan (A) Georgia (A) Mexico (A) Botswana (P) Swaziland (P) Kazakhstan (A) Nicaragua (A) Burkina Faso (A) Tanzania (A) Kyrgyz Republic (A) Panama (A) Burundi (A) Togo (A) Latvia (A) Paraguay (A) Cameroon (A) Uganda (A) Lithuania (A) Peru (A) Cape Verde (A) Zambia (P) Macedonia, FYR (A) St. Kitts and Nevis (P) Central African Republic (P) Zimbabwe (A) Moldova (A) St. Lucia (A) Chad (A) Montenegro (A) St. Vincent and the Grenadines (P) Comoros (P) Poland (A) Uruguay (A) Congo, Dem. Rep. of (E) Romania (A) Venezuela, R.B. de (A) Congo, Rep. of (P) Note: Letters in parenthesis indicate DRS reporters' status: (A) as reported, (P) preliminary, and (E) estimated. The status "as reported" indicates that the country was fully current in its reporting under the DRS and that World Bank staff are satisfied that the reported data give an adequate and fair representation of the country's total public debt. "Preliminary" data are based on reported or collected information but, because of incompleteness or other reasons; include an element of staff estimation. "Estimated" data indicate that countries are not current in their reporting and that a significant element of staff estimation has been necessary in producing the data tables. a. For Bosnia and Herzegovina, total debt before 1999, excluding IBRD and IMF obligations and short-term debt, is included under Serbia. b. Data prior to 2006 include Montenegro. 309 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Income groups Low-income countries Niger Middle-income countries Lebanon Rwanda Lesotho Afghanistan Senegal Albania Lithuania Bangladesh Sierra Leone Algeria Macedonia, FYR Benin Somalia Angola Malaysia Burkina Faso Tajikistan Argentina Maldives Burundi Tanzania Armenia Mauritius Cambodia Togo Azerbaijan Mexico Central African Republic Uganda Belarus Moldova Chad Uzbekistan Belize Mongolia Comoros Vietnam Bhutan Montenegro Congo, Dem. Rep. of Yemen, Republic of Bolivia Morocco Eritrea Zambia Botswana Nicaragua Ethiopia Zimbabwe Bosnia and Herzegovina Nigeria Gambia, The Brazil Pakistan Ghana Bulgaria Panama Guinea Cameroon Papua New Guinea Guinea-Bissau Cape Verde Paraguay Haiti Chile Peru Kenya China Philippines Kyrgyz Republic Colombia Poland Lao PDR Congo, Rep. of Romania Liberia Costa Rica Russian Federation Madagascar Côte d'Ivoire Samoa Malawi Djibouti São Tomé and Principe Mali Dominica Serbia Mauritania Dominican Republic Seychelles Mozambique Ecuador Solomon Islands Myanmar Egypt, Arab Rep. of South Africa Nepal El Salvador Sri Lanka Fiji St. Kitts and Nevis Gabon St. Lucia Georgia St. Vincent and the Grenadines Grenada Sudan Guatemala Swaziland Guyana Thailand Honduras Tonga India Tunisia Indonesia Turkey Iran, Islamic Rep. of Turkmenistan Jamaica Ukraine Jordan Uruguay Kazakhstan Vanuatu Latvia Venezuela, R.B. de Note: Low-income economies are those with a GNI per capita of $975 or less in 2008. Middle-income economies are those with a GNI per capita of more than $975 but less than $11,906. Lower-middle-income and upper-middle-income countries are separated at a GNI per capita of $3,856. Although classified as lower-middle-income, the Syrian Arab Republic is not included in this year's edition of Global Development Finance or The Little Data Book on External Debt because data were not reported for 2008. Regional and income aggregates thus do not include data for the Syrian Arab Republic. Data for the Syrian Arab Republic will be published and included in regional aggregates in Global Development Finance 2011 and The Little Data Book on External Debt 2011. 310 Glossary Average terms of new commitments provides Currency composition of public and publicly guaran- information on the average terms (interest rate, teed debt provides information on the share of loans maturity, and grace period) of new commitments outstanding and disbursed by currency of repay- on public and publicly guaranteed external debt ment. For major multilateral creditors, the currency contracted with public and private creditors. Aver- composition of the relevant unit of account is also ages are weighted by the amounts of the loans. taken into account. The principal currencies in which the external debt of low- and middle-income coun- Bilateral official creditors are official agencies that tries is contracted (the euro, Japanese yen, Pound make loans on behalf of one government to an- sterling, Swiss franc, and U.S. dollar) are separately other government or to public (and, in some cases, identified. Beginning in 2001, debt denominated in private) borrowers in another country. the currencies of the members in the euro area is included under the euro rather than the national cur- Bonds are debt instruments issued by public and rencies that previously prevailed. publicly guaranteed or private debtors with dura- tion of one year or longer. Bonds usually give the Current account balance is the sum of credits less holder the unconditional right to fixed money in- debits arising from international transactions in come or contractually determined variable money goods, services, income, and current transfers. income. Debt buyback is the repurchase by a debtor of Commercial banks are private banks that provide its own debt, either at a discount price or at par loans and other financial services. value. In the event of a buyback of long-term debt, the face value of the debt bought back will Commitments of public and publicly guaranteed be recorded as a decline in stock outstanding of debt is the total amount of new long-term loans to long-term debt, and the cash amount received by public sector borrowers or borrowers with a pub- creditors will be recorded as a principal repay- lic sector guarantee extended by official and pri- ment. For example, if a country buys back long- vate lenders and for which contracts were signed term external debt of face value B at a price P, in the year specified. then long-term external debt will decline by B, and principal repayment will increase by P. The Contractual obligations on outstanding long-term difference between the price at which the debt was external debt are the anticipated debt service pay- bought back and the face value is recorded as a ments on long-term external debt contracted up to debt stock write-off (the related transactions are December 2008. not separately indentified in the GDF publication but are available in the CD-ROM and GDF On- Cross-currency valuation effects arise from move- line database). ments in the value of the U.S. dollar against other world currencies and impact the value of develop- Debt forgiveness grants include both debts can- ing country debt when expressed in U.S. dollars. celled by agreement between debtor and creditor 311 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 and reductions in the net present value of official interest arrears on long-term debt. The relation nonconcessional loans resulting from concessional between external debt stock and its components is rescheduling or refinancing. Data are recorded on illustrated on page 305. a disbursement basis and include debt forgiveness from bilateral and multilateral creditors. External debt stocks to exports is the ratio of outstanding external debt to the value of exports Debt outstanding and disbursed is the value at of goods and services and receipts of income from year end of long-term external debt owed by pub- abroad, including workers' remittances. lic and publicly guaranteed and private nonguar- anteed debtors. External debt stocks to GNI is the ratio of out- standing external debt to gross national income. Debt restructurings are revisions to debt service obligations agreed by creditors and debtors. Such Foreign direct investment (net) is investment made agreements change the amount and timing of fu- to acquire a lasting management interest (usually ture principal and interest payments. 10 percent of voting stock) in an enterprise operat- ing in a country other than that of the investor (de- Debt service to exports is the ratio of the sum of fined according to residency): the investor's pur- principal repayments and interest paid on total pose being an effective voice in the management long-term debt (public and publicly guaranteed of the enterprise. It is the sum of equity capital, and private nonguaranteed) to the value of exports reinvestment of earnings, other long-term capital, of goods and services and receipts of income from and short-term capital as shown in the balance of abroad, including workers' remittances. payments and includes intercompany debt. Debt stock-flow reconciliation provides informa- Grace period is the time between the date on tion on the factors that account for the change in which a loan is committed and the date on which debt stocks from one period to the next. the first principal payment is due. The information presented in GDF is the average grace period on Disbursements are drawings during the year all public and publicly guaranteed debt committed specified on loan commitments contracted by the during the specified period. borrower. Grants are legally binding commitments that Exports of goods, services, and income is the total obligate a specific value of funds available for dis- value of exports of goods and services, receipts of bursement for which there is no payment require- compensation of nonresident workers, and invest- ment. They include debt forgiveness grants, grants ment income from abroad. Workers' remittances, from bilateral and multilateral agencies (such as a transfer, not an income entry, in the balance IDA). Technical cooperation grants are shown of payments, are treated as compensation of em- separately in GDF as a memorandum item. ployees in GDF because they are often difficult to distinguish from compensation of nonresident Gross national income (GNI) is the sum of value workers and migrants. added by all resident producers plus any product taxes (less subsidies) not included in the valuation External debt flows are debt-related transactions of output plus net receipts of primary income (com- during the year specified. They include disburse- pensation of employees and property income) from ments, principal repayments, and interest pay- abroad. Yearly average exchange rates are used to ments. convert GNI from local currency to U.S. dollars. External debt stocks comprise public and pub- Heavily Indebted Poor Country (HIPC) Initiative licly guaranteed long-term external debt, private is a program of the World Bank and the IMF to nonguaranteed long-term external debt, the use of provide debt relief to qualifying countries with IMF credit, and short-term external debt, including unsustainable debt burdens. 312 G L O S S A R Y Imports of goods & services is the total value of rights (SDRs), its reserve position in the IMF, its goods and services imported and payments of in- holdings of foreign exchange, and its holdings of come to residents of other economies. gold (valued at year-end London prices). Interest arrears on long-term debt are interest pay- Long-term external debt is debt that has an origi- ments due but not paid, shown on a cumulative nal or extended maturity of more than one year basis. Interest arrears are due and payable imme- and that is owed to nonresidents by residents of diately and are therefore regarded as short-term an economy and repayable in foreign currency, obligations. Thus an increase in interest arrears on goods, or services. long-term debt will be recorded as an increase in short-term debt. Interest in arrears on the use of Long-term private sector debt is long-term debt IMF credit is also considered to be part of short- owed by the private sector whether publicly guar- term external debt. anteed or not. Interest payments are the amounts of interest paid Long-term public sector debt is long-term external in foreign currency, goods, or services in the year debt owed by the public sector. specified. Maturity is the date on which the final principal Interest rate is the interest rate applicable to a payment on a loan is due. It is the sum of the grace loan commitment as specified in the loan contract. and repayment period. The information presented The information presented in GDF is the average in GDF is the average maturity on all public and interest on all public and publicly guaranteed debt publicly guaranteed debt committed during the committed during the specified period. specified period. International Bank for Reconstruction and Devel- Multilateral Debt Relief Initiative (MDRI) is a opment (IBRD) is a multilateral official creditor. It program of the World Bank, the IMF, the Inter- is the nonconcessional lending arm of the World American Development Bank, and the African Bank Group. Development Bank to provide additional debt relief to countries that have completed the HIPC International Development Association (IDA) is a process. multilateral, official creditor. IDA is the concessional financing arm of the World Bank Group. IDA also Multilateral official creditors are official agencies provides grant financing to qualified borrowers. owned or governed by more than one country, which provide loan financing. They include the International Monetary Fund (IMF) charges are international financial institutions, such as the the amounts of interest paid in foreign currency in World Bank and International Monetary Fund, the year specified for transactions with the IMF. the regional development banks, and other inter- governmental agencies. International Monetary Fund (IMF) purchases are the total drawings on the general resources ac- Multilateral to external debt stocks is the ratio of count of the IMF during the year specified, exclud- the stock of debt owed to multilateral creditors to ing drawings in the reserve tranche. total external debt. International Monetary Fund (IMF) repurchases Net flows on external debt are disbursements on are the amounts of principal (amortization) paid long-term external debt and IMF purchases minus in foreign currency in the year specified for trans- principal repayments on long-term external debt actions with the IMF. and IMF repurchases. Up to 1984 this calculation includes only long-term external debt and IMF International reserves is the sum of a country's flows. Beginning in 1985 the calculation includes monetary authority's holdings of special drawing the change in stock of short-term debt (excluding 313 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 interest arrears on long-term external debt). If the public sector borrowers, or borrowers with a pub- change in the stock of short-term debt is positive, lic sector guarantee, owed to official and private a net inflow is assumed to have taken place; if the lenders. change in the stock of short-term debt is negative, a net outflow is assumed to have taken place. Net Public and publicly guaranteed external debt com- flows on long-term and short-term external debt prises public debt--an external obligation of a are also shown separately. public debtor, including the national government, a political subdivision (or agency of either), and Official creditors are governments or other bi- autonomous public bodies--and publicly guar- lateral public entities, such as export-import anteed external debt--an external obligation of a agencies, development agencies, and multilateral private debtor that is guaranteed for repayment by financial institutions, such as the World Bank and a public entity. regional development banks. Reserves to external debt stocks is the ratio of in- Portfolio equity flows is the sum of country funds, ternational reserves to outstanding external debt. depository receipts (American or global), and di- rect purchases of shares by foreign investors. Reserves to imports (months) is the ratio of in- ternational reserves to the value of imports of Present value of debt outstanding is the nominal goods and services in the year shown expressed in value of all future debt service obligations on ex- months (reserves/(imports/12)). isting debt discounted at prevailing market rates of interest. The interest rates used in this calcula- Short-term external debt has an original maturity tion are the Commercial Interest Reference Rates of one year or less. Available data permit no dis- (CIRR) for each relevant currency compiled and tinction between public, publicly guaranteed, and published by the OECD. private nonguaranteed short-term external debt. Principal arrears on long-term debt are principal Short-term to external debt stock ratio is the ratio payments due but not paid on long-term external of short-term external debt to total outstanding debt, shown on a cumulative basis. external debt. Principal repayments are the amounts of principal Special Drawing Rights (SDR) is an international (amortization) paid in foreign currency, goods, or reserve asset, created by the IMF in 1969 to sup- services in the year specified in respect of long- plement its member countries' official reserves. Its term external debt. value is based on a basket of four key international currencies: the U.S. dollar, the Pound sterling, the Private creditors are bondholders, commercial Japanese yen, and the euro. In addition to its role banks, and other trade-related lenders. as a supplementary reserve asset, the SDR serves as the unit of account of the IMF and some other Private nonguaranteed debt is debt owed by pri- international organizations. vate sector borrowers to external creditors on loans that do not benefit from a public sector Technical cooperation grants include free-standing guarantee by the debtor country. technical cooperation grants, intended to finance the transfer of technical and managerial skills or of Profit remittances on FDI are payments of direct technology for the purpose of building up general investment income (debit side), which consist of national capacity without reference to any specific income on equity (dividends, branch profits, and investment projects; and investment-related techni- reinvested earnings) and income on the intercom- cal cooperation grants, aimed at strengthening the pany debt (interest). capacity to execute specific investment projects. Public and publicly guaranteed debt outstanding Total amount forgiven is the total amount of and disbursed is the value of debt at year end of principal and interest due, principal and interest 314 G L O S S A R Y in arrears, and debt stock forgiven in the year than amounts drawn against the country's reserve specified. tranche position. Use of IMF credit includes pur- chases and drawings under Stand-By, Extended, Total amount rescheduled is the total amount of Structural Adjustment, Enhanced Structural Ad- external debt rescheduled, including principal, in- justment, and Systemic Transformation Facility terest, charges, and penalties. Arrangements, together with Trust Fund loans. Total change in external debt stocks is the differ- Worker remittances and compensation of employ- ence in the external debt stock between two con- ees comprise current transfers by migrant work- secutive years. ers, and wages and salaries earned by nonresident workers. In addition, migrants' transfers, a part Use of International Monetary Fund (IMF) credit of capital transfers, are treated as workers' remit- denotes members' drawings on the IMF other tances in GDF. 315 Users guide The general cutoff date for all data in this publication is end-October 2009. The economic aggregates presented in the tables are prepared for the convenience of users. Although debt ratios can give useful information about developments in debt-servicing capacity, conclusions drawn from them will not be valid unless accompanied by careful economic evaluation. The macroeconomic data provided are collected from national statistical organizations but in some cases may be subject to considerable margin of error. The usual care must be taken in interpreting the ratios, particularly for the most recent years, where figures may be preliminary and subject to revision. Country notes at the end of each country table summarize major events that have taken place in the country in recent years; describe the sources of information for short-term and private-nonguaranteed external debt; and highlight main issues in data collection process. Unless otherwise specified in the coun- try table, data on long-term public and publicly guaranteed external debt for 2008 are based on reports provided by the country. Abbreviations The following abbreviations are used in the principal ratios and indicator tables: BIS Bank for International Settlements CRS Creditor Reporting System (of the OECD) DAC Development Assistance Committee (of the OECD) DDSR Debt and debt service reduction DRS Debtor Reporting System (of the World Bank) FDI Foreign direct investment GNI Gross national income HIPC Highly Indebted Poor Country (initiative of the World Bank and IMF) IBRD International Bank for Reconstruction and Development (of the World Bank) IDA International Development Association (of the World Bank) IMF International Monetary Fund LIBOR London interbank offer rate MDRI Multilateral Debt Relief Initiative ODA Official development assistance OECD Organization for Economic Co-operation and Development OPEC Organization of Petroleum Exporting Countries SDR Special drawing right (of the IMF) WBXD World Bank External Debt System Symbols The following symbols have been used throughout: 0.0 indicates that a datum exists but is negligible or is a true zero .. indicates that a datum is not available. $ indicates current U.S. dollars unless otherwise specified. 317 G lobal Development Finance 2010: External Debt of Developing Countries is a continuation of the World Bank's publications The database covers external debt stocks and flows, major economic aggregates, and key debt ratios, as well as average terms of new Global Development Finance,Volume II (1997 commitments, currency composition of long- through 2009) and the earlier World Debt Tables term debt, and debt restructurings in greater (1973 through 1996). As in previous years, detail than can be included in the GDF book. GDF 2010 provides statistical tables showing The CD-ROM also contains the full contents the external debt of 128 developing countries of the print version of GDF 2010. Text that report public and publicly guaranteed providing country notes, definitions, and source external debt to the World Bank's Debtor information is linked to each table. Reporting System (DRS). It also includes GDF Online is available by subscription or tables of key debt ratios for individual reporting through the World Bank's Public Information countries and the composition of external Centers. The Little Data Book on External debt stocks and flows for individual reporting Debt 2010 provides a quick reference to the countries and regional and income groups data from GDF 2010. For more information along with some graphical presentations. on the GDF database, CD-ROM, and GDF 2010 draws on a database maintained print publications go to http://publications. by the World Bank External Debt (WBXD) worldbank.org/ecommerce/. system. Longer time series and more detailed Global Development Finance 2010: External data are available from the Global Development Debt of Developing Countries is unique in its Finance 2010 on CD-ROM and the GDF coverage of the important trends and issues Online databases, which contain more than fundamental to the financing of the developing 200 time series indicators, covering the years world. This report is an indispensible resource 1970 to 2008 for most reporting countries, for governments, economists, investors, financial and pipeline data for scheduled debt service consultants, academics, bankers, and the entire payments on existing commitments to 2016. development community. THE WORLD BANK 1818 H Street, NW Washington, DC 20433 USA Telephone: 202 473-1000 Facsimile: 202 477-6391 Web: www.worldbank.org Further details about GDF 2010 can be found at E-mail: feedback@worldbank.org www.worldbank.org/data. ISBN 978-0-8213-8229-5 SKU 18229