T H E W O R L D B A N K Global 58447 Development Finance External Debt of Developing Countries Global Development Finance External Debt of Developing Countries Global Development Finance External Debt of Developing Countries 2011 © 2011 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 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: 978-0-8213-8673-6 eISBN: 978-0-8213-8674-3 DOI: 10.1595/978-0-8213-8673-6 ISSN: 1020-5454 Table of Contents Preface vii Cambodia 94 Cameroon 96 Acknowledgments ix Cape Verde 98 Overview 1 Central African Republic 100 Financial Flows to Developing Chad 102 Countries: Trend in 2009 1 Chile 104 Recent Trends in Financing from China 106 Official Creditors 4 Colombia 108 Volatility in Private Debt Flows Comoros 110 to Developing Countries 8 Congo, Democratic Republic of 112 Debt Indicators 10 Congo, Republic of 114 Regional Developments and Trends 11 Costa Rica 116 Annex A: Debt Restructuring in 2009 19 Côte d'Ivoire 118 Djibouti 120 Summary Tables 21 Dominica 122 Regional and Income Group Dominican Republic 124 Aggregate Tables 35 Ecuador 126 Egypt, Arab Republic of 128 Country Tables 55 El Salvador 130 Afghanistan 56 Eritrea 132 Albania 58 Ethiopia 134 Algeria 60 Fiji 136 Angola 62 Gabon 138 Argentina 64 Gambia, The 140 Armenia 66 Georgia 142 Azerbaijan 68 Ghana 144 Bangladesh 70 Grenada 146 Belarus 72 Guatemala 148 Belize 74 Guinea 150 Benin 76 Guinea-Bissau 152 Bhutan 78 Guyana 154 Bolivia, Plurinational State of 80 Haiti 156 Bosnia and Herzegovina 82 Honduras 158 Botswana 84 India 160 Brazil 86 Indonesia 162 Bulgaria 88 Iran, Islamic Republic of 164 Burkina Faso 90 Jamaica 166 Burundi 92 Jordan 168 v G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Kazakhstan 170 Seychelles 252 Kenya 172 Sierra Leone 254 Kosovo 174 Solomon Islands 256 Kyrgyz Republic 176 Somalia 258 Lao People's Democratic Republic 178 South Africa 260 Lebanon 180 Sri Lanka 262 Lesotho 182 St. Kitts and Nevis 264 Liberia 184 St. Lucia 266 Lithuania 186 St. Vincent and the Grenadines 268 Macedonia, Former Yugoslav Republic of 188 Sudan 270 Madagascar 190 Swaziland 272 Malawi 192 Syrian Arab Republic 274 Malaysia 194 Tajikistan 276 Maldives 196 Tanzania 278 Mali 198 Thailand 280 Mauritania 200 Togo 282 Mauritius 202 Tonga 284 Mexico 204 Tunisia 286 Moldova 206 Turkey 288 Mongolia 208 Turkmenistan 290 Montenegro 210 Uganda 292 Morocco 212 Ukraine 294 Mozambique 214 Uruguay 296 Myanmar 216 Uzbekistan 298 Nepal 218 Vanuatu 300 Nicaragua 220 Venezuela, República Bolivariana de 302 Niger 222 Vietnam 304 Nigeria 224 Yemen, Republic of 306 Pakistan 226 Zambia 308 Panama 228 Zimbabwe 310 Papua New Guinea 230 About the Data 313 Paraguay 232 Data Sources 313 Peru 234 Methodology 314 Philippines 236 External Debt and Its Components 316 Romania 238 Countries with Estimated Data 319 Russian Federation 240 Rwanda 242 Country Groups 321 Samoa 244 Glossary 323 São Tomé and Príncipe 246 Senegal 248 Users' Guide 327 Serbia 250 vi vi Preface T he World Bank's Debtor Reporting System Steps are continuously being taken to ensure (DRS), from which the aggregates and that the data captured by the DRS mirror these country tables presented in this report are developments and respond to the needs of debt drawn, was established in 1951. The debt crisis managers and analysts. In this context, reporting of the 1980s brought increased attention to debt requirements are periodically amended to reflect statistics and to the World Debt Tables, the prede- changes in borrowing patterns. Many develop- cessor to Global Development Finance. Now the ing countries increasingly rely on financing raised global financial crisis has once again heightened in domestic markets, so we are exploring ways to awareness in developing countries of the impor- expand the coverage of public sector borrowing in tance of managing their external obligations. domestic markets. At the same time, we are mindful Central to this process is the measurement and that expanded coverage and efforts to enhance data monitoring of external debt stocks and flows in a accuracy and timeliness must be balanced against coordinated and comprehensive way. The initial the reporting burden imposed on developing coun- objective of the DRS was to support the World tries. Bringing modern technology to bear reduces Bank's assessment of the creditworthiness of its reporting costs. In partnership with the major pro- borrowers. But it has grown as a tool to inform viders of debt data management systems to devel- developing countries and the international com- oping countries, the Commonwealth Secretariat munity of trends in external financing and as a (COMSEC) and the United Nations Conference on standard for the concepts and definitions on which Trade and Development (UNCTAD), we have estab- countries can base their own debt management lished standard code and system links that enable systems. countries to provide their DRS reports electronically, Over the years, the external financing options in a seamless and automated data exchange process. available to developing countries have evolved and We recognize that robust debt data and good expanded, and so too has the demand for timely debt management go hand in hand, and the World and relevant data to measure the activity of public Bank, together with its partners, is committed to and private sector borrowers and creditors. Recur- improving the capacity of developing countries rent debt crises caused by adverse global economic to manage their debt. We are also committed to conditions or poor economic management have maintaining the DRS as a rich source of informa- demanded solutions, including debt restructur- tion. All the relevant data and information are ing and, in the case of the poorest, most highly available to you from the World Bank's Open indebted countries, outright debt forgiveness, Data site at http://data.worldbank.org/. We wel- formulated on the basis of detailed and robust come your comments and suggestions to ensure information on external obligations. that our data meet your needs. Shaida Badiee Director, Development Data Group vii Acknowledgments T his volume and its companion volume, Remittances unit provided worker remittances The Little Data Book on External Debt, and compensation of employee data. The over- were prepared by the Financial Data Team view of current developments was prepared by of the Development Data Group (DECDG), led Malvina Pollock in consultation with the staff of by Ibrahim Levent under the supervision of Eric DECDG, and country economists reviewed the Swanson and Neil James Fantom, and compris- data. The work was carried out under the man- ing Nanasamudd Chhim, Shelley Fu, Akane agement of Shaida Badiee. Hanai, Hiroko Maeda, Gloria Moreno, Evis The production of this volume was managed by Rukaj, Yasue Sakuramoto, Makiko Sano, Rubena Azita Amjadi, with the assistance of Alison Kwong Sukaj, Alagiriswamy Venkatesan, and Mizuki and Vera Wen. The CD-ROM and online database Yamanaka, working closely with other teams in were prepared by Buyant Erdene Khaltarkhuu and the Development Economics Vice Presidency's William Prince, with technical support from Shelly Development Data Group. The team was assisted Fu, Vilas K. Madlekar, Abarna Gayathri Manickudi by Awatif H. Abuzeid, Rosario Alipio, and Premi Panchapakesan, Sujay Ramasamy, and Malarvizhi Rathan. The system support team was led by Veerappan. The cover was designed by Jomo Tariku. Abdolreza Farivari; Soong Sup Lee provided the Staff members from External Affairs coordinated macroeconomic data, and the Migration and the publication and dissemination of the book. ix . Overview Financial Flows to Developing (which were mostly trade related). Both foreign Countries: Trend in 2009 direct investment (FDI) flows and bank lend- I nternational capital flows to the 128 developing countries reporting to the World Bank Debtor Reporting System (DRS) fell by 20 percent in ing fell precipitously. By contrast, the net inflow of debt-related financing from official creditors (excluding grants) rose 175 percent as support was 2009 to $598 billion (3.7 percent of gross national stepped up to low- and middle-income countries income [GNI]), compared with $744 billion in severely affected by the global financial crisis. 2008 (4.5 percent of GNI) and a little over half Net equity inflows (direct investment and the peak level of $1,111 billion realized in 2007 portfolio investment combined) totaled $462 bil- (table 1). Private flows (debt and equity) declined lion in 2009, down 13 percent from the $534 bil- by 27 percent despite a rebound in bond issuance, lion total recorded in 2008 and close to 30 percent portfolio equity flows, and short-term debt flows lower than the $643 billion total recorded in 2007 Table 1. Net Capital Inflows to Developing Countries, 2001­09 $ billions Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net private and official inflows 212.6 154.4 262.4 342.2 464.8 610.2 1,110.5 743.9 597.8 Percentage of GNI 3.7 2.7 3.9 4.3 4.9 5.5 8.0 4.5 3.7 Net equity inflows 165.5 162.5 178.8 243.6 341.1 451.0 643.2 533.9 462.2 Net FDI inflows 158.8 154.3 152.5 206.7 273.6 343.3 508.1 587.1 354.1 Net portfolio equity inflows 6.7 8.3 26.3 36.9 67.5 107.7 135.1 53.2 108.2 Net debt flows 47.2 8.1 83.6 98.6 123.7 159.2 467.3 209.9 135.5 Official creditors 31.0 6.7 11.9 24.1 64.0 69.6 0.0 27.8 76.4 World Bank 7.4 0.5 2.5 2.4 2.7 0.2 5.2 7.3 17.7 IMF 19.5 14.2 2.4 14.7 40.2 26.7 5.1 10.0 26.5 Other official creditors 4.1 7.0 11.8 11.8 26.6 42.6 0.0 10.6 32.2 Private creditors 16.2 14.8 95.5 122.7 187.7 228.8 467.3 182.1 59.1 Net medium- and long-term debt flows 3.2 1.7 38.3 69.8 113.2 144.9 283.1 196.1 52.7 Bonds 15.5 11.1 23.1 34.3 48.2 31.7 88.2 24.1 51.1 Banks and other private creditors 18.7 12.8 15.2 35.5 65.0 113.2 194.9 172.0 1.6 Net short-term debt flows 19.4 13.1 57.2 52.9 74.5 83.9 184.2 14.0 6.4 Change in reserves ( increase) 81.5 165.3 288.1 395.3 404.6 634.2 1,083.7 452.7 673.8 Memorandum items Official grants excluding technical cooperation 28.4 33.1 44.7 52.1 56.9 106.9 76.1 86.4 95.0 Worker remittances 93.8 109.9 136.8 158.6 190.6 225.3 277.2 323.5 305.2 Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD. Note: Grants are World Bank staff estimates. 1 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Figure 1. Net Equity Flows to Developing Figure 2. Net Foreign Direct Investment Inflows Countries, 2001­09 to Major Recipients, 2008­09 $ billions $ billions 700 China 600 Russian 500 Federation Brazil 400 India 300 200 Mexico 100 Turkey 0 Kazakhstan ­100 Chile 2001 2002 2003 2004 2005 2006 2007 2008 2009 0 50 100 150 200 Net FDI inflows Net portfolio equity inflows 2008 2009 Sources: IMF and World Bank staff estimates. Sources: IMF and World Bank staff estimates. (table 1 and figure 1). FDI inflows fell to $354 bil- Table 2. Net Inflows of Portfolio Equity: Top 10 lion from $587 billion in 2008--the sharpest drop Recipients $ billions in 20 years, with all of the largest recipients of FDI seeing net inflows decline. China, the largest recip- Country 2005 2006 2007 2008 2009 ient of FDI inflows among developing countries, Brazil 6.5 7.7 26.2 7.6 37.1 experienced a 47 percent drop in FDI inflows in China 20.3 42.9 18.5 8.7 28.2 2009, to an estimated $78 billion, partly because India 12.2 9.5 35.0 15.0 21.1 of high disinvestment in the financial sector (figure Indonesia 0.2 1.9 3.6 0.3 0.8 2). The story was repeated in other regions as mul- Mexico 3.4 2.8 0.5 3.5 4.2 tinational firms were hit hard by the global eco- Philippines 1.5 2.5 3.2 1.3 1.1 Russian nomic recession and financial crisis. Slower global Federation 0.1 6.5 18.7 15.0 2.0 growth squeezed their profitability, and economic South Africa 7.2 15.0 8.7 4.7 9.4 uncertainty and weak global demand reduced Thailand 5.1 5.2 4.3 3.8 1.9 their willingness (and ability) to expand abroad. Turkey 5.7 1.9 5.1 0.7 2.8 Brazil and Mexico saw FDI inflows decline 42 Sources: IMF and World Bank staff estimates. percent and 51 percent respectively. Inflows to the Russian Federation were down 50 percent, and from the net outflow of $53 billion in 2008, when in Turkey they dropped by 56 percent. In India, investors retreated from stock holdings in emerg- the decline was more moderate (16 percent), and ing markets. Brazil recorded the strongest reversal, the same was true for Chile (down 16 percent) with an inflow of $37 billion in 2009 compared to and, to a lesser extent, Kazakhstan (down 20 an outflow of $8 billion in 2008. Other countries percent). In general, energy-oriented FDI was less that saw an important reversal in portfolio flows affected because many companies with expertise in in 2009 included China ($19 billion increase), energy exploration still had strong cash positions, India ($36 billion increase), Russia ($17 billion and falling prices of energy assets in developing increase), and South Africa ($14 billion increase). countries raised investment attractiveness. As a Portfolio equity flows remain concentrated in result, countries such as Angola, Azerbaijan, the 10 countries that typically account for about 90 Islamic Republic of Iran, and Nigeria all recorded percent of all portfolio equity flows to developing increased net FDI flows in 2009. countries (table 2). In contrast to the fall in FDI inflows, portfolio Debt-related flows plummeted in 2009, fall- equity inflows turned sharply positive in 2009, ing by 35 percent to $136 billion ($210 billion in rising to $108 billion--a dramatic turnaround 2008), and their composition changed markedly. 2 O V E R V I E W Medium- and long-term financing from official Figure 4. Net Private Debt Flows by Creditor Type, creditors accounted for 56 percent of debt-related 2001­09 flows, compared to just 13 percent in 2008. Debt $ billions inflows from official sources surpassed those from 250 private creditors for the first time since 2002 (fig- ure 3). The dominant element was new lending by 200 multilateral creditors, including the International Monetary Fund (IMF). It constituted almost 90 percent of net inflows from official sources in 150 2009, reflecting increased support to low- and middle-income countries severely affected by the 100 global financial crisis. The structure of inflows from private creditors in 2009 was markedly dif- ferent from the pattern recorded in 2008. Net 50 inflows on bonds rebounded following a resur- gence of new issues by public sector and, to a lesser 0 degree, corporate borrowers. Similarly, short-term flows returned to positive territory ($6 billion) ­50 after the $14 billion outflow of 2008--the only 2001 2002 2003 2004 2005 2006 2007 2008 2009 time there had been an outflow of short-term Bonds Banks and other private capital from developing countries since 2000. Net short term debt flows However, the net inflow of capital from banks and other private creditors, which held up reason- Source: World Bank Debtor Reporting System. ably well in 2008, collapsed in 2009 because of the combined effect of a sharp reduction in gross Table 3. Net Capital Inflows to Developing Regions, inflows and large payments by corporate borrow- 2005­09 ers (figure 4). $ billions At the regional level, the emerging market Inflows (by region) 2005 2006 2007 2008 2009 economies in Europe and Central Asia experi- enced the most pronounced drop in the net inflow Net private and official inflows 465 610 1,111 744 598 East Asia and Pacific 171 192 282 183 191 Figure 3. Net Debt Flows by Creditor Type, 2001­09 Europe and Central Asia 128 218 411 262 90 Latin America and the $ billions Caribbean 85 66 217 177 167 500 Middle East and North Africa 19 14 30 21 28 South Asia 29 77 118 62 77 400 Sub-Saharan Africa 33 43 53 39 45 Source: World Bank Debtor Reporting System. 300 200 of capital. Debt and equity flows combined fell 66 percent in 2009 to $90 billion, well below one-quarter of the amount received in 2007 (table 100 3). Net capital inflows to Latin America and the Caribbean also continued their downward trajec- 0 tory in 2009 but declined only moderately, down 6 percent from their 2008 level. All other regions ­100 enjoyed an increase in net capital inflows in 2009. 2001 2002 2003 2004 2005 2006 2007 2008 2009 In the Middle East and North Africa and in South Official creditors Private creditors Asia, net capital inflows rose by 33 percent and Source: World Bank Debtor Reporting System. 26 percent, respectively, driven by new borrowing 3 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 in the case of the former and almost entirely by or no access to market-based financing. Official portfolio inflows to India in the case of the latter. grants data for 2009 to be published by OECD East Asia and the Pacific recorded a small (4 per- in December 2010 are expected to show that cent) rise in the net inflow of capital in 2009, with grants (excluding technical cooperation grants) the sharp decrease in the net inflow of FDI offset by rose by an additional 10 percent in 2009, reflect- increased portfolio flows and by the rise in short- ing donors' commitment to a substantial increase term borrowing. In Sub-Saharan Africa, net capital in official development assistance (ODA) to help inflows were up by 16 percent in 2009, primarily developing countries, particularly those of Sub- because of the turnaround in portfolio equity flows Saharan Africa, achieve internationally established to South Africa. However, most countries in the development objectives, including the Millennium region saw net capital inflows fall in 2009. When Development Goals (MDGs). South Africa is excluded, the net inflows of capital The recent shift from grants to loans in to Sub-Saharan Africa were 11 percent lower than financing from official sources is significant. In the comparable figure for 2008. 2007, grants constituted almost 100 percent of the combined net inflows of loans and grants from official bilateral and multilateral sources. By 2009, grants, as a share of the net inflow of offi- Recent Trends in Financing from cial financing (loans and grants), are estimated to Official Creditors have fallen to 55 percent. By contrast, net official N et inflows of capital from official creditors (loans and grants) were estimated at $171 billion in 2009, an increase of about 50 percent financing provided by multilateral institutions (including the IMF and grants from IDA), rose from $11.4 billion in 2007 to $70.8 billion in over the comparable figure for 2008 (table 4). This 2009. In parallel, middle-income countries signifi- increase was driven mostly by the rapid rise in the cantly increased their share of official financing; in net inflow of medium- and long-term loans from 2009, they received 90 percent of net official loan the IMF and the multilateral development banks, financing ($68 billion). The level and composition reflecting the decision made at the Group of 20 of new commitments in 2009 by the multilateral London Summit in April 2009 to accord these institutions suggest this trend will continue. These institutions a central role in crisis response for institutions increased their 2008 level by more developing countries (table 4). The net inflow of than 65 percent to $102 billion, with 93 percent capital from bilateral creditors turned positive for directed to middle-income countries. the first time since 2000, in large measure because The gross inflow of capital from multilateral of increased South-South lending. Most Organisa- institutions (defined as IMF purchases and dis- tion for Economic Co-operation and Development bursements from multilateral creditors) increased (OECD) countries provided a large share of their 113 percent since 2007 to reach $98 billion in bilateral assistance in the form of official grants, 2009. The dominant factor behind this rapid rise particularly to low-income countries with little was the amount of member countries' purchases Table 4. Net Official Financing to Developing Countries, 2001­09 $ billions Financing 2001 2002 2003 2004 2005 2006 2007 2008 2009 Total 59.3 39.8 32.8 28.0 7.1 37.4 76.1 114.2 171.4 Official grants 28.4 33.1 44.7 52.1 56.9 106.9 76.1 86.4 95.0 IDA 0.0 0.3 0.4 1.1 1.2 1.2 1.9 2.1 2.5 Loans 31.0 6.7 11.9 24.1 64.0 69.6 0.1 27.8 76.4 Bilateral 3.6 8.5 13.9 12.3 31.5 46.2 11.4 2.5 5.6 Multilateral 34.6 15.2 1.9 11.8 32.5 23.4 11.4 30.3 70.8 IBRD 2.4 6.0 7.6 4.0 2.9 5.2 0.3 2.7 11.3 IDA 5.0 5.5 5.0 6.4 5.6 5.0 5.5 4.6 6.5 IMF 19.5 14.2 2.4 14.7 40.2 26.7 5.2 9.9 26.5 Sources: World Bank Debtor Reporting System and OECD. Note: Grants are World Bank staff estimates. 4 O V E R V I E W from the IMF; it increased 14-fold to $28.3 bil- more extensive discussion on the composition of lion in 2009 ($2 billion in 2007). Disbursements lending by multilateral creditors.) from the World Bank (the International Bank Every developing country that reports to the for Reconstruction [IBRD] and the International DRS indicates some inflow of capital from multilat- Development Association [IDA]) rose 73 percent eral sources. However, multilateral lending is con- over this period, and this trend was also mirrored centrated in a relatively small number of countries in the increased level of lending by the regional in each region--particularly in the case of the IMF, development banks. Collectively, their disburse- whose lending patterns are dictated by the balance ments have risen 54 percent since 2007 (figure 5). of payment needs of its member countries. In 2009, The Bretton Woods institutions (IMF, IBRD, 67 percent of IMF purchases were attributable to and IDA) are the most important source of mul- just three countries: Romania (33 percent), Ukraine tilateral financing to developing countries around (22 percent), and Pakistan (12 percent). All regions the globe. Together they accounted for 60 percent have seen a rise in multilateral financing since 2007, of gross disbursements from multilateral sources but two regions, Europe and Central Asia and Latin in 2009, up from 44 percent in 2007. However, America and the Caribbean, have been the primary the regional development banks are a critical com- beneficiaries (figure 6). Together they accounted for ponent of multilateral financing and are frequently 62 percent of gross inflows from multilateral insti- the principle source of such financing in the regions tutions in 2009, up from 52 percent in 2008. This they target. For example, the Inter-American gain came at the expense of other regions, which all Development Bank (IDB) accounted for 48 per- saw their share of gross multilateral inflows decline cent of disbursements by multilateral creditors in 2009. South Asia was the most affected: its share to countries in Latin America and the Caribbean fell by more than 6 percentage points to 12.2 per- in 2008­09. The World Bank (IBRD and IDA cent in 2009 (figure 7). combined) share accounted for 40 percent. Dis- Financing from the World Bank Group takes a bursements by the Asian Development Bank were variety of forms: loans and guarantees from IBRD equivalent to 43 percent of disbursements from and loans, grants, and guarantees from IDA to the multilateral creditors to countries in South Asia public sector of the borrowing country; loans and in 2008­09, almost the same share of the total as equity financing from IFC to the private sector; and that of IBRD and IDA combined. (See the section investment guarantees from the Multilateral Invest- titled "Regional Developments and Trends" for a ment Guarantee Agency (MIGA). Financing by Figure 6. Disbursements from Multilateral Sources Figure 5. Gross Inflows from Multilateral Creditors by Region, 2008­09 to Developing Countries, 2005­09 $ billions $ billions 40 45 35 40 30 35 25 30 20 25 15 20 10 15 5 10 0 As tral be e fic a a ric h 5 ib th i ric Af ort As ci ia an a en Af ar d Pa N C an h C d ut an d an d a So 0 an ar an ic st ah er ia e Ea 2005 2006 2007 2008 2009 Am As -S op b e r st Eu Su dl tin Ea id IMF IBRD IDA La M Other multilateral 2008 2009 Source: World Bank Debtor Reporting System. Source: World Bank Debtor Reporting System. 5 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Figure 7. Disbursements by Multilateral Creditors, in 2009 over the comparable figure for 2008. The Regional Distribution region received almost half of IBRD disbursements $ billions in 2009. IBRD disbursements to countries in a. Share of 2008 disbursements (%) b. Share of 2009 disbursements (%) Europe and Central Asia rose 65 percent in 2009 to $4.7 billion compared to a moderate, 16 percent 10.4 12.7 9.8 10.4 increase in countries in East Asia and the Pacific to 12.2 $3.7 billion. The three remaining regions com- 18.5 bined received $3 billion in IBRD disbursements 26.2 5.8 35.2 in 2009 (13 percent of the total), exceeding the 6.1 comparable figure for 2008 by 55 percent (figure 26.1 26.6 8). Like commitments, IBRD disbursements are heavily concentrated, with one country, Mexico, accounting for 22 percent of IBRD disbursements East Asia and Pacific Europe and Central Asia in 2009 and the top 10 borrowers accounting for Latin America and the Caribbean Middle East and North Africa 76 percent (figure 9). The total amount of debt South Asia Sub-Saharan Africa Source: World Bank Debtor Reporting System. Figure 8. IBRD Disbursements, Regional Distribution, 2008­09 $ millions the World Bank Group is captured in the data pre- 12,000 sented in Global Development Finance as follows: 10,000 · Loans from IBRD and IDA constitute part of 8,000 the borrowing country's public and publicly guar- 6,000 anteed debt and are also separately identified by source. 4,000 · Loan financing from IFC is recorded as part 2,000 of private, nonguaranteed debt. Grants provided 0 by IDA are recorded in official grants. Equity Latin America Europe and East Asia Other regions financing from IFC and investments guaranteed by and the Central Asia and Pacific Caribbean MIGA are recorded as part of FDI. 2008 2009 · IBRD and IDA guarantees do not represent Source: World Bank Debtor Reporting System. financing and are recorded only as a flow of funds if the guarantee is invoked. Figure 9. Top 10 Recipients of IBRD Trends in IBRD Financing Disbursements, 2009 In 2009, IBRD commitments totaled $36 billion, $ millions a 75 percent increase over the comparable figure Mexico for 2008 and the highest ever recorded in the institution's history. This total reflected a surge Turkey in new loans to borrowers across all regions. The Indonesia countries of Latin America and the Caribbean India and of Europe and Central Asia commanded 60 Colombia percent of new IBRD loan commitments in 2009, China but India was the single largest recipient, securing Brazil $5.8 billion. IBRD commitments remained con- Argentina centrated: 10 borrowers accounted for 75 percent Romania of new IBRD loans in 2009. Disbursements by Egypt, Arab IBRD jumped 61 percent in 2009 to $22 billion. Rep. 0 1,000 2,000 3,000 4,000 5,000 6,000 The countries of Latin America and the Caribbean saw a 90 percent increase in IBRD disbursements Source: World Bank Debtor Reporting System. 6 O V E R V I E W outstanding and disbursed to IBRD stood at $108 accounts for the size of the population and GNI billion at the end of 2009 for countries reporting per capita. IDA recipient countries in the top per- to the World Bank Debtor Reporting System.1 Of formance quintile receive about three times the this amount, 54 percent was owed by six borrow- commitment amount per capita received by those ers: in order of highest amount, China, Mexico, in the lowest quintile. At the same time, the distri- Brazil, Turkey, India, and Indonesia. bution of IDA resources is relatively concentrated. There are currently 79 IDA-eligible countries, but Trends in IDA Financing 75 percent of gross IDA disbursements in 2009 IDA resources are reserved for the world's poor- went to 10 countries (figure 11). est countries, and its operations are concentrated The outstanding IDA loan portfolio ($117 in South Asia and Sub-Saharan Africa. New loan billion at the end of 2009) is heavily concentrated, commitments from IDA rose 15 percent in 2009 with five East and South Asian countries account- to $10.4 billion, but gross disbursements increased ing for 54 percent of the total: in order of highest more rapidly, by 26 percent to $8.7 billion. In amount India, Bangladesh, Pakistan, China, and addition, IDA disbursed $2.5 billion in grants in Vietnam. This concentration is a consequence of 2009, an increase of 19 percent over the com- the fact that, at the end of 2009, 26 countries, parable figure for 2008 ($2.1 billion). Countries primarily in Sub-Saharan Africa, had reached the in Sub-Saharan Africa received 46 percent of all Highly Indebted Poor Country (HIPC) comple- IDA gross disbursements (loans and grants) in tion point and received $42.8 billion in HIPC 2009, down from 51 percent in 2008; South Asia and Multilateral Debt Relief Initiative (MDRI) received 31 percent (up from 27 percent the previ- assistance from IDA. Among Sub-Saharan African ous year), reflecting increases in IDA resources countries, those with the largest share of the out- going to Afghanistan and Pakistan. The share standing IDA portfolio include Kenya ($3.2 bil- of IDA gross disbursements to East Asia and the lion) and Nigeria ($2.7 billion), neither of which is Pacific remained largely unchanged at 14 percent eligible for HIPC or MDRI relief. Three countries of the total. Gross IDA flows to countries in (Burundi, the Central African Republic, and Haiti) regions other than those cited increased sharply, reached the HIPC completion point in 2009 and albeit from a small base, primarily because of the became eligible for debt relief under the MDRI. doubling of IDA grants to Haiti (figure 10). IDA Côte d'Ivoire reached the HIPC decision point in resources are allocated to individual countries 2009 and became eligible for interim relief from using a performance-based allocation system that IDA (accorded to countries between the HIPC Figure 10. Gross Inflows (Loans and Grants), Figure 11. Top 10 Recipients of Gross IDA 2008­09 Disbursements (Loans and Grants), 2009 $ millions $ millions 6,000 India 5,000 Vietnam 4,000 Pakistan Ethiopia 3,000 Tanzania 2,000 Nigeria Uganda 1,000 Congo, Dem.Rep. 0 Bangladesh Sub-Saharan South Asia East Asia Other regions Africa and Pacific Afghanistan 2008 2009 0 200 400 600 800 1,000 1,200 1,400 Source: World Bank Debtor Reporting System. Source: World Bank Debtor Reporting System. 7 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 decision and completion points), raising the num- Figure 12. Net Medium- and Long-Term Bank ber of countries receiving interim relief to nine. Lending, 2007­09 $ billions 140 Volatility in Private Debt Flows 120 to Developing Countries 100 T he global financial crisis severely reduced 80 developing countries' access to international 60 capital markets: countries reporting to the World 40 Bank DRS confirmed a substantial reduction in 20 debt flows from private creditors. These flows fell 0 70 percent in 2009 to $59 billion, one-eighth of the $467 billion net inflow from private creditors ­20 East Asia Europe and Latin America Other regions in 2007. Driving the downturn in 2009 was the and Pacific Central Asia and the collapse in medium-term commercial bank lend- Caribbean ing to both public and private sector borrowers. 2007 2008 2009 These flows all but disappeared in 2009, with the Source: World Bank Debtor Reporting System. net inflows to all developing countries reduced to a mere $1.6 billion, compared to $172 billion in 2008. The decline was felt across all regions as banks remained cautious about their exposure $107 billion to $444 billion between 2000 and to emerging market economies and continued to 2008. Those directed to private sector borrowers redress their balance sheets in the expectation of increased fivefold from $80 billion to $412 billion significant tightening in risk-weighted bank capital and, as a share of the total, from 75 percent to requirements. The most substantial fall from previ- 93 percent. Because maturities on medium-term ous levels was in Europe and Central Asia, where bank loans typically averaged 5 years, principal concerns over mounting nonperforming loans and repayments also followed a rapid upward trajec- large domestic adjustments restrained both the tory. They jumped from $108 billion in 2000 to demand for and supply of lending. The region saw $278 billion in 2008, with repayments owed by net medium-term lending by banks plummet to private sector borrowers tripling over this period. $7 billion (down from $105 billion in 2008). Net In 2009, both public and private sector borrowers private debt flows to Latin America and the Carib- had to contend with a further 13 percent increase bean turned negative (-$6 billion) from an inflow in principal payments, while gross disbursements of $41 billion the previous year. Bank lending to to public borrowers fell by 20 percent and those to East Asia and the Pacific was also negative, but private sector borrowers by 30 percent (figure 13). this effect was due more to lower demand than to Developing countries recorded only a small limited supply (figure 12). With abundant domes- $6 billion net inflow of short-term debt in 2009, tic liquidity, borrowers in East Asia and the Pacific but this figure reflected a $20 billion turnaround had less need to tap international markets. from the $14 billion outflow recorded in 2008. Developing countries' private sectors had to However, recovery remained limited when viewed absorb most of the impact of the downturn in in the context of the $184 billion inflow of short- bank financing. Over the past 15 years, the surge term debt in developing countries in 2007. More- in medium-term bank lending to developing coun- over, the aggregate inflow in 2009 masks sharp tries had been largely directed to private sector disparity at the regional level in the direction of borrowers. Whereas in 1995 developing countries' short-term debt flows. Short-term debt transac- obligations to commercial banks were divided tions are mostly trade related, and it is therefore roughly equally between public and private sector not surprising that short-term financing in 2009 borrowers, by the end of 2009 the latter's share was directed primarily to the fastest-growing had risen to almost 90 percent of the total. Gross regions and away from those where the pace of disbursements from commercial banks rose from economic recovery was sluggish. The main driver 8 O V E R V I E W Figure 13. Gross Medium-Term Commercial Bank Table 5. Net Short-Term Debt Flows to Developing Flows to Developing Countries, 2000­09 Countries, 2007-09 $ billions $ billions Region 2007 2008 2009 450 East Asia and Pacific 55 11 55 400 Europe and Central Asia 76 15 38 Latin America and the Caribbean 33 4 2 350 Middle East and North Africa 4 4 2 South Asia 13 8 1 300 Sub-Saharan Africa 4 5 10 250 All developing countries 184 14 6 Sources: World Bank Debtor Reporting System and Bank for Inter- 200 national Settlements. 150 Table 6. Bond Issuance by Developing Countries, 100 2008­09 $ billions 50 Sovereign Corporate borrowers borrowers 0 Region 2008 2009 2008 2009 2000 2005 2006 2007 2008 2009 Gross disbursements public borrowers East Asia and Pacific 5.2 13.9 0.4 2.7 Gross disbursements private sector borrowers Europe and Central Asia 17.9 15.3 16.3 3.2 Principal payments public borrowers Latin America and the Caribbean 32.5 32.4 8.4 27.8 Principal payments private sector borrowers Middle East and North Africa 2.3 2.9 0.0 0.2 Source: World Bank Debtor Reporting System. South Asia 0.0 0.7 0.6 2.5 Sub-Saharan Africa 0.0 2.2 0.0 0.0 All developing countries 57.9 67.4 25.7 36.4 was East Asia and the Pacific, where the net Source: World Bank Debt Reporting System. inflow of short-term capital returned to pre-crisis levels. The region recorded inflows of $55 billion average of 700 basis points in early March. Latin in 2009, the same as in 2007, and a $66 billion America and the Caribbean led the way in sover- turnaround from outflows of $11 billion in 2008. eign bond issuances, with countries in the region Countries in the Middle East and North Africa raising a total of $32 billion in 2009, almost also saw short-term debt rebound in 2009. All identical to the amount they raised in 2008 (table other regions had to contend with net outflows of 6). Sovereign bond financing in East Asia and the short-term debt in 2009 (table 5). This situation Pacific jumped to $13.9 billion, from $5.2 billion was particularly marked in the case of Europe and in 2008, because of new issuances by Indonesia, Central Asia, where outflows rose to $38 billion, Malaysia, and the Philippines. There was a 15 more than double the $15 billion outflow recorded percent decline in sovereign bond issuance by in 2009. Short-term debt flows also turned sharply countries in Europe and Central Asia in 2009, but negative in Sub-Saharan Africa (-$10 billion), Lithuania, Russia, and Turkey all came to the mar- driven primarily by outflows from South Africa. ket in 2009. Corporate issuances increased by 42 International bond issuance by develop- percent in 2009 to $36.5 billion but were limited ing countries contracted in 2008 as the global principally to high-grade borrowers, suggesting financial crisis unfolded but increased strongly in that the market is still largely closed to high-risk 2009. It soared after the first quarter of the year to corporate borrowers. Corporate bond issuances, $104 billion for the entire year, an increase of 24 as a share of total bond issuances, were 35 percent percent over its 2008 level, as investor confidence in 2009, broadly unchanged from their share in returned and demand for riskier assets increased. 2008. But there was a marked regional shift. In Emerging market bond spreads narrowed, falling 2008, Russian borrowers accounted for 56 per- to near pre-crisis levels by the year's end, from an cent of corporate bond issuances by all developing 9 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 countries, whereas in 2009 their share had fallen Figure 14. Key Debt Indicators: Trend 2000­09 to 6 percent. Of $2.3 billion raised by Russian 140 corporates in 2009 most was accounted for by Gazprom. The opposite was true for Brazil, which 120 saw its share of total bond issuances by corporate borrowers nearly double, reaching 47 percent in 100 2009 (from 26 percent in 2008). The corporate sectors in Chile, Colombia, Jamaica, and Mexico were also active in the bond markets in 2009. In 80 East Asia and the Pacific, the only corporate bor- rowers to enter the bond markets in 2009 were 60 those in China and Indonesia. 40 Debt Indicators 20 E xternal debt indicators (measured in terms of GNI) and export earnings improved markedly from the start of the decade until 2008, with the 0 2000 2005 2007 2008 2009 rate of growth in developing countries outpacing External debt stocks to exports (%) the accumulation of new external obligations. External debt stocks to GNI (%) Export earnings rose sharply because of increased Debt service to exports (%) export volume and high international prices for Sources: World Bank Debtor Reporting System and IMF. primary commodities, which prevailed until the last quarter of 2008. The rotation of international capital flows from debt to equity and, in the case of low-income countries, the large-scale forgive- All regions saw their external debt ratios dete- ness of external debt obligations under the HIPC riorate in 2009, but the pace at which this took and MDRI also played an important role in reduc- place varied considerably from region to region. ing many countries' external debt burdens. From The countries of East Asia and the Pacific and the 2000 to 2008, the ratio of total external debt Middle East and North Africa continued to have outstanding to exports for all developing countries the lowest level of external debt, measured against reporting to the DRS fell by well over half, from both export earnings and GNI. In 2009, these 128.4 percent to 58.7 percent. Measured against countries experienced only a moderate increase in developing countries' GNI, the ratio dropped from the ratio of external debt to export earnings and 37.8 percent to 20.6 percent over the same period. a marginal upward change in their external debt However, this trend came to an abrupt halt in 2009 to GNI ratio. By contrast, in Europe and Central as the impact of global economic and financial cri- Asia, the most heavily indebted region, the ratio sis manifested itself in slower growth and sharply of external debt outstanding to GNI increased to reduced export earnings in the vast majority of 44.7 percent in 2009 (from 35.1 percent in 2008), developing countries. Export earnings were down over three times that of East Asia and the Pacific almost 20 percent from their 2008 level, which, and nearly twice as high as Latin America and the combined with increased external borrowing, Caribbean. Europe and Central Asia also has the pushed the ratio of total external debt outstanding highest ratio of outstanding debt to exports: 131.8 to exports up to 74.6 percent, its highest level since percent in 2009, up from 91.6 percent in 2008 2005 and close to 30 percent higher than its 2008 (table 7). level. The ratio of debt service to exports was simi- Over the course of the decade, there has been larly affected, increasing from 9.2 percent in 2008 a marked improvement in the sustainability of to 11.3 percent in 2009. The change in the ratio of developing countries' debt, measured by the ratio outstanding external debt to GNI was more mod- of external debt service to export earnings. The erate, but it also rose in 2009 (figure 14). ratio of debt service to exports for all developing 10 O V E R V I E W Table 7. Debt Indicators for Regional Country Figure 15. Ratio of Debt Service to Exports, Groups 1995­2009 percent percent Debt outstanding/GNI Debt outstanding/exports 30 Region 2000 2008 2009 2000 2008 2009 East Asia and 25 Pacific 29.6 12.9 13.2 78.1 30.9 39.0 Europe and 20 Central Asia 52.9 35.1 44.7 140.2 91.6 131.8 Latin America and the Caribbean 38.3 21.5 23.7 169.6 85.2 111.4 15 Middle East and North Africa 38.4 14.9 15.4 118.4 33.9 37.4 10 South Asia 26.7 20.8 20.7 181.5 87.4 104.4 Sub-Saharan Africa 66.0 21.4 22.9 185.2 49.0 66.5 5 Sources: World Bank Debtor Reporting System and IMF. 0 1995 2000 2005 2006 2007 2008 2009 Low-income countries Middle-income countries countries combined was reduced by more than half between 2000 and 2008, from 20.9 percent Sources: World Bank Debtor Reporting System and IMF. to 9.2 percent. The improvement was particularly striking in the case of low-income countries, which saw the ratio of debt service to exports fall to 4.9 percent by 2008. In 2009, the sharp fall in export by the end of 2009 totaled $101 billion, including earnings interrupted the downward trajectory in debt relief under HIPC, MDRI relief, and addi- the debt-to-export ratio, but the impact was most tional debt relief from bilateral creditors. Con- pronounced in middle-income countries. Their sequently, these countries have seen a continual export earnings fell almost 20 percent in 2009, improvement in their debt indicators. and as a consequence, the cost of debt service as a share of export earnings rose to 11.3 percent, an increase of 22 percent over the comparable figure for 2008. By contrast, in low-income coun- Regional Developments and Trends tries, the decline in export earnings was much less (down 10 percent from their 2008 level) and the East Asia and Pacific ratio of debt service to exports rose only margin- Net capital flows to the region rose slightly in ally in 2009 to 5.1 percent (figure 15). 2009 to $191 billion and remained constant, in Low-income countries also benefited from terms of GNI (3.1 percent), at their 2008 level further debt restructuring and debt relief. In 2009, (table 8). A turnaround in portfolio equity flows Paris Club creditors restructured $5 billion in and a rebound in short-term (trade-related) financ- claims on six low-income countries, of which $1.2 ing to pre-crisis levels offset the sharp fall in net billion was canceled (see annex A). All six were FDI inflows and outflows for medium-term loans countries eligible for the HIPC Initiative, and the from commercial banks. group included the three countries that reached Net equity flows fell by 26 percent in 2009, the HIPC completion point in 2009 (Burundi, with the important turnaround in portfolio flows the Central African Republic, and Haiti) and also not large enough to offset the 45 percent reduc- qualified for debt relief under the MDRI. In addi- tion in FDI. China was the main driver for both tion, Liberia bought back $1.2 billion owed to categories of equity flows. The precipitous drop private creditors at a discount of nearly 97 percent (47 percent) in FDI investment flows to China, the with support from the IDA Debt Reduction Facil- largest recipient of FDI among developing coun- ity and bilateral donors. Debt relief for the 26 tries, dictated the regional trend. But the down- countries that reached the HIPC completion point turn was mirrored across the region, with only the 11 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Philippines recording increased FDI inflows--up to an average inflow of $16.9 billion in the two 26 percent in 2009. In contrast, portfolio equity preceding years. Asian borrowers took advantage flows to China rebounded to $28 billion (from of improved market conditions and renewed inves- $9 billion in 2008). Thailand also saw portfolio tor appetite, issuing bonds totaling $16.6 billion in equity rebound to $1.9 billion from an outflow of 2009, triple the amount issued in 2008. Of these $3.8 billion in 2008. bonds, 85 percent were raised by public sector Net capital inflows from private creditors borrowers, with the Philippines, Indonesia, and jumped to 11 times their 2008 level, with short- Malaysia issuing $5.5 billion, $4.5 billion, and term financing (mostly trade related) recovering $3.9 billion respectively. to pre-crisis levels as the global economic environ- Capital flows from official sources are a ment normalized. Most borrowers in the region relatively small share of the total for most bor- reported inflows of short-term debt, but China rowers in the region. An important exception is again dominated the trend: its net short-term Vietnam, which was the second-largest recipient of debt inflows rose 28 percent over the 2008 level IDA in 2009, with disbursements of $1.2 billion. to $241 billion. Exceptions to the regional trend The region also shared in the resurgence of flows were the Philippines, with an outflow of short-term from official creditors in 2009: these flows turned debt of $3 billion in 2009 and Indonesia, with a positive for the first time since 2001, driven by more moderate $0.4 billion outflow. In contrast, disbursements from multilateral creditors, which short-term debt disbursements on medium-term rose 30 percent over their 2008 level as a result bank loans to both public sector and private sector of increased lending by both the World Bank borrowers were subdued: the demand for inter- Group and the Asian Development Bank. These national financing was weak because domestic institutions provided 52 percent and 46 percent, markets were liquid and cheap. These disburse- respectively, of the $10.1 billion disbursed by mul- ments fell by 20 percent from their 2008 level and, tilateral creditors in 2009. combined with increased principal repayments, led The fall in export earnings led to an increase to an outflow of $9.2 billion in 2009 compared in the ratio of outstanding debt and debt service Table 8. Net Capital Inflows to East Asia and the Pacific, 2001­09 $ billions Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net private and official inflows 82.2 49.6 76.4 127.0 171.0 192.4 282.2 183.2 190.6 Percentage of GNI 4.6 2.5 3.4 4.9 5.6 5.3 6.1 3.1 3.1 Net equity inflows 50.7 63.2 69.3 89.7 130.0 161.9 212.2 179.3 132.3 Net FDI inflows 48.9 59.4 56.8 70.4 104.3 105.7 177.1 186.6 102.5 Net portfolio equity inflows 1.8 3.8 12.5 19.3 25.7 56.2 35.1 7.3 29.9 Net debt flows 31.5 13.6 7.1 37.3 40.9 30.6 70.0 3.9 58.3 Official creditors 3.1 7.7 7.2 5.2 3.2 9.3 3.8 1.1 3.7 World Bank 0.9 1.7 1.5 1.9 0.6 0.4 0.3 1.2 2.2 IMF 2.5 2.7 0.5 1.6 1.6 8.5 0.0 0.0 0.1 Other official creditors 4.7 3.3 5.2 1.7 1.0 0.4 3.5 2.3 1.4 Private creditors 28.5 5.9 14.3 42.5 44.2 39.9 73.9 5.0 54.5 Net medium- and long-term debt flows 12.9 12.3 9.8 9.1 9.3 14.8 18.5 16.2 0.8 Bonds 0.4 0.1 1.8 9.6 10.1 3.9 0.7 0.2 8.4 Banks and other private creditors 13.3 12.4 11.5 0.5 0.7 10.9 17.8 16.0 9.2 Net short-term debt flows 41.4 6.5 24.1 33.4 34.8 25.1 55.4 11.2 55.4 Change in reserves ( increase) 49.8 92.8 139.8 237.1 217.7 295.1 541.0 432.4 534.8 Memorandum item Worker remittances 21.0 27.0 32.3 40.0 50.3 57.4 71.1 85.5 84.9 Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD. 12 O V E R V I E W to export earnings in 2009, but these ratios remain the hydrocarbon sector held up well, experienced the lowest of all six regions at 39 percent and 4.8 a more moderate decline of inflows (20 percent). percent, respectively. Led by China, countries in There was resurgence in portfolio equity inflows the region increased international reserves by a fur- to Russia and Turkey, but at $5 billion they ther $600 million in 2009: at the end of 2009, the remained well below the $24 billion received in stock of international reserves was three and one- 2007. half times the level of outstanding external debt. The net inflow of financing from official creditors tripled in 2009 to $32 billion, primar- Europe and Central Asia ily because of the large-scale rescue packages for This region has been severely affected by the Romania and Ukraine. Together these countries global economic crisis and has seen private capital received 55 percent of IMF financing (purchases) flows plummet from $411 billion in 2007 (15.8 to developing countries in 2009. New commit- percent of GNI) to $90 billion in 2009 (3.6 per- ments by multilateral creditors other than the cent of GNI). As a consequence, the region has IMF more than doubled in 2009 to $24 billion, become increasingly dependent on financing from including $7 billion from the European Commu- official creditors, which accounted for 36 percent nity as part of the rescue package to Romania. of net capital flows to the region in 2009 (table 9). Gross disbursement rose by 82 percent to $13.4 FDI collapsed in 2009, pulling down net billion, of which 54 percent went to Romania and equity inflows by 38 percent. In Russia, the Turkey. Disbursements by IBRD rose 65 percent in second-largest recipient of FDI among developing 2009 to $4.7 billion, of which Turkey received 49 countries, the net inflow of FDI was down by 50 percent. percent from its 2008 level to $37 billion. The pat- The net inflow of medium- and long-term tern was repeated across the region with inflows to financing from banks held up well in 2008, but Bulgaria, Romania, Turkey, and Ukraine down by the retrenchment in 2009 was severe: a 35 percent a similar percentage. Among the major recipients drop in disbursements juxtaposed with principal of FDI, only Kazakhstan, where investments into repayments on a steep upward trajectory reduced Table 9. Net Capital Inflows to Europe and Central Asia, 2001­09 $ billions Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net private and official inflows 20.6 36.9 81.6 99.9 127.8 218.3 410.6 262.3 89.8 Percentage of GNI 3.0 4.7 8.3 7.7 7.8 10.9 15.8 8.2 3.6 Net equity inflows 14.5 16.8 25.3 43.7 57.8 104.6 160.2 145.0 90.0 Net FDI inflows 13.9 14.0 23.8 41.9 51.1 92.3 133.2 160.1 85.1 Net portfolio equity inflows 0.6 2.7 1.5 1.8 6.7 12.3 27.0 15.1 5.0 Net debt flows 6.1 20.1 56.3 56.2 70.0 113.7 250.4 117.3 0.3 Official creditors 6.6 3.8 4.7 7.3 28.4 30.7 3.0 11.1 32.2 World Bank 2.0 1.0 0.2 1.0 0.7 0.2 0.2 0.7 2.8 IMF 6.1 4.8 2.0 5.9 9.8 5.8 5.0 6.2 20.2 Other official creditors 1.5 2.0 2.5 2.5 18.0 25.1 1.8 4.2 9.3 Private creditors 0.5 16.3 61.0 63.5 98.4 144.4 253.4 106.2 32.5 Net medium- and long-term debt flows 0.3 14.9 34.5 52.1 80.1 108.9 177.7 121.5 5.2 Bonds 0.5 3.2 7.3 14.4 16.6 32.2 55.9 16.3 1.6 Banks and other private creditors 0.8 11.7 27.2 37.7 63.5 76.7 121.8 105.2 6.8 Net short-term debt flows 0.8 1.4 26.5 11.4 18.3 35.5 75.7 15.3 37.7 Change in reserves ( increase) 11.0 28.7 49.1 68.8 87.0 171.6 226.1 57.8 26.0 Memorandum item Worker remittances 10.2 10.5 11.5 16.0 23.2 28.4 39.2 45.8 35.6 Sources: World Bank Debtor Reporting System, IMF, Bank of International Settlements, and OECD. 13 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 net inflows to $7 billion, their lowest level since and short-term bank financing was largely offset 2001. Short-term debt also contracted in response by a surge in new bond issuance, a tripling of net to the deteriorating terms of trade and sharp inflows from official creditors, and a marginal import compression, resulting in a widening of decline in net equity flows. the net outflow of short-term debt to $38 billion The collapse in FDI in 2009 affected borrowers in 2009, (from $15 billion in 2008). New bond across the region and reflected the 43 percent fall issuances by public sector agencies in 2009 totaled in FDI inflows to Brazil and the 51 percent decline $15.3 billion, down by only 15 percent from their in Mexico, the region's two largest recipients of 2008 level, but there was a sharp reduction in FDI. Investments in the hydrocarbon sector typi- bond issuance by private sector borrowers. This cally held up worldwide in 2009, but that was not reduction was driven primarily by Russia, where the case in the República Bolivariana de Venezuela, the corporate sector raised only $2.3 billion in where appropriation of some FDI claims deterred new issuances in 2009 compared to $14.3 billion investors and led to a $3.1 billion net outflow of in 2008. FDI in 2009, a marked turnaround from the $10.1 Debt indicators deteriorated significantly, billion and $3.5 billion FDI inflows to the country owing to a substantial increase in debt and gener- in 2007 and 2008, respectively. The decline in FDI ally poor export growth performance. The ratio inflows was in part offset by the surge in portfo- of debt to exports increased from 95.3 percent in lio equity inflows. These inflows rebounded in 2005 to 131.8 percent in 2009 while the ratio of response to economic recovery, which proceeded at debt service to exports climbed to 26.9 percent a faster pace in the region than had been expected. (from 19.7 percent in 2005), the highest ratio of The main driver was Brazil, with portfolio equity any region. inflows of $37 billion in 2009, 90 percent of the regional total, in contrast to the $7.6 billion out- Latin America and the Caribbean flow in 2008. Mexico, the only other significant Net capital flows to the region fell 6 percent in recipient of portfolio equity inflows also recorded a 2009 but remained constant in relation to GNI at net inflow ($4.2 billion) in 2009 compared to a net 4.3 percent (table 10). The downturn in medium- outflow of $3.5 billion in 2008. Table 10. Net Capital Inflows to Latin America and the Caribbean, 2001­09 $ billions Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net private and official inflows 86.1 40.4 62.2 57.2 85.2 66.2 217.5 177.2 166.7 Percentage of GNI 4.5 2.4 3.4 2.7 3.3 2.2 6.1 4.3 4.3 Net equity inflows 74.3 56.6 46.6 65.3 84.4 83.0 138.2 118.2 115.2 Net FDI inflows 71.8 55.2 43.3 65.9 72.2 72.0 109.4 127.9 73.6 Net portfolio equity inflows 2.5 1.4 3.3 0.6 12.2 11.0 28.8 9.7 41.6 Net debt flows 11.8 16.2 15.7 8.1 0.8 16.8 79.2 59.0 51.5 Official creditors 20.6 12.4 4.7 10.2 31.3 19.9 1.1 6.5 19.2 World Bank 1.3 0.6 0.4 1.0 0.7 3.4 0.1 2.4 6.6 IMF 15.6 11.9 5.6 6.3 27.6 12.1 0.0 0.0 0.4 Other official creditors 3.8 1.1 0.4 2.9 3.0 4.4 1.0 4.1 12.2 Private creditors 8.8 28.6 10.9 2.0 32.2 3.1 80.3 52.5 32.3 Net medium- and long-term debt flows 6.5 8.4 9.2 0.9 16.4 5.2 47.6 48.4 34.1 Bonds 9.8 1.9 16.7 3.1 20.6 11.9 13.4 7.5 40.3 Banks and other private creditors 3.3 10.2 7.5 4.0 4.2 17.1 34.2 40.9 6.2 Net short-term debt flows 15.3 20.2 1.8 3.0 15.7 2.1 32.7 4.1 1.8 Change in reserves ( increase) 0.9 2.6 35.6 25.4 34.4 55.5 137.8 50.1 52.0 Memorandum item Worker remittances 24.4 28.1 36.7 43.3 50.1 59.2 63.1 64.6 56.9 Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD. 14 O V E R V I E W Increased borrowing from multilateral institu- accounted for 69 percent. New issuances by pri- tions was already evident in 2008 and continued vate sector borrowers shot up to $28 billion (from apace in 2009. This increase was the main fac- $8 billion in 2008), led by the corporate sector in tor in the sharp rise in net inflows from official Brazil ($17 billion) and, to a lesser extent, Mexico creditors, which rose to $19.2 billion in 2009, ($5.1 billion). close to three times higher than their 2008 level The rise in the stock of outstanding debt in and in marked contrast to the outflows from the 2009 was moderate--3 percent for the entire region to official creditors between 2004 and region--and it was the decline in export earn- 2007. New commitments from IBRD and the IDB ings that caused the ratio of outstanding debt to doubled to $30 billion in 2009, while disburse- exports to deteriorate. It jumped to 111.4 percent ments by the two institutions jumped 89 percent (from 85.2 percent in 2008). Debt in relation to to $22.6 billion (from $12.2 billion in 2008). But GNI rose slightly in 2009 but remains moderate at these disbursements were highly concentrated, 23.7 percent. with 67 percent of IBRD gross disbursements and 58 percent of those from IDB in 2009 going to Middle East and North Africa three countries, in order of largest disbursement, The Middle East and North Africa recorded the Mexico, Brazil, and Argentina. IDB, the largest sharpest rise in net capital inflows in 2009 of all multilateral creditor, accounted for 50 percent of regions. Capital inflows increased by 32 percent 2009 multilateral commitments and 48 percent of largely because of the increase in lending by official gross disbursements. creditors and an inflow of short-term debt. The The steep drop in medium-term lending by reversal in net debt flows to $2 billion in 2009, from banks was offset by a sharp rise in net inflows for an outflow of $9 billion in 2008, more than offset bonds, which leapt from $7.5 billion in 2008 to the 14 percent fall in net equity flows (table 11). $40.3 billion in 2009. New bonds issued by the Net equity inflows have constituted 96 per- public sector totaled $32 billion, almost identical cent of all net capital flows into the region since to 2008, of which Brazil ($6.1 billion), Colom- 2001. The 17 percent decline in net FDI inflows bia ($5.5 billion), and Mexico ($10.9 billion) in 2009 was partially offset by an increase in net Table 11. Net Capital Inflows to Middle East and North Africa, 2001­09 $ billions Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net private and official inflows 4.4 10.3 13.5 13.0 19.4 14.4 29.4 21.1 27.8 Percentage of GNI 1.2 2.7 3.3 2.7 3.6 2.3 3.9 2.3 3.0 Net equity inflows 3.9 7.6 10.2 10.4 19.2 28.2 25.5 29.7 25.6 Net FDI inflows 4.0 8.1 10.0 9.7 16.8 27.2 27.6 29.3 24.4 Net portfolio equity inflows 0.0 0.5 0.2 0.7 2.4 1.0 2.1 0.4 1.2 Net debt flows 0.5 2.7 3.4 2.6 0.2 13.7 3.9 8.6 2.2 Official creditors 1.5 2.1 2.1 3.4 3.0 11.2 1.1 1.8 2.3 World Bank 0.1 0.3 0.3 0.6 0.0 0.8 1.0 0.3 0.9 IMF 0.1 0.3 0.6 0.5 0.7 0.2 0.1 0.1 0.1 Other official creditors 1.3 1.5 1.2 2.3 2.3 10.3 0.2 1.4 1.4 Private creditors 1.9 4.8 5.4 5.9 3.2 2.5 2.8 6.8 0.1 Net medium- and long-term debt flows 4.9 5.4 0.9 2.7 2.9 1.7 0.7 2.7 1.7 Bonds 4.4 5.2 0.7 2.8 2.5 0.8 0.7 0.8 0.5 Banks and other private creditors 0.5 0.2 0.2 0.1 0.4 2.5 1.4 1.8 2.1 Net short-term debt flows 3.0 0.7 4.6 3.2 0.3 0.8 3.5 4.2 1.6 Change in reserves ( increase) 9.3 12.6 23.2 14.7 38.9 37.8 48.0 43.4 24.2 Memorandum item Worker remittances 14.2 14.9 19.9 22.6 23.6 25.1 31.0 34.7 32.3 Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD. 15 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 portfolio equity flows. They rose to $1.2 billion in and a net inflow on bonds. The Islamic Republic of 2009 from $0.4 billion in 2008. Portfolio equity Iran, Morocco, and Tunisia were important drivers flows are concentrated in the Arab Republic of of the overall rise in short-term debt inflows: they Egypt and Lebanon, and both countries recorded recorded increases of $0.9 billion, $0.5 billion, a marked increase in inflows in 2009. With regard and $0.5 billion, respectively, in 2009. By contrast, to FDI, however, the picture was mixed. Egypt, some borrowers in the region, including Egypt the region's largest recipient of FDI, saw net FDI and Jordan, saw short-term debt contract in 2009. inflows fall 29 percent in 2009. But in Lebanon, Bond inflows in 2009 are concentrated entirely in FDI inflows were $4.8 billion, up by 10 percent, Lebanon and reflect the bond exchange operation, and in the Islamic Republic of Iran, they jumped which is valued at $2.9 billion. In 2008, Lebanon by an unprecedented 87 percent to $3 billion, raised $2.5 billion in the bond markets. directed primarily at the oil and gas sector. Debt indicators are moderate because of the Net debt flows from official creditors turned preponderance of equity in net capital flows to positive in 2009, rising to $2.3 billion compared the region and relatively robust export earnings. to an outflow of $1.8 billion in 2008. This rise Despite a 10 percent fall in export earnings in was driven by an increase in disbursements by 2009, the stock of outstanding debt in relation to each of the principal multilateral institutions export earnings was, at 37.4 percent, the lowest of operating in the region: the African Development any region, and the ratio of debt service to export Bank, the European Investment Bank, and IBRD. was only 4.7 percent. Debt as a share of GNI was Collectively, these banks disbursed $3.9 billion 15.4 percent in 2009, lower than in all regions in 2009, an increase of close to 70 percent over except East Asia and the Pacific. the comparable figure for 2008, with Egypt and Morocco being the primary beneficiaries. South Asia The large net outflow from the region in 2008 Net capital inflows to the region rose 26 percent in for debt owed to private creditors, $6.8 billion, 2009, to 4.7 percent of GNI, because of a remark- was reversed in 2009 because of a sharp turn- able $37 billion turnaround in portfolio equity around in the direction of short-term debt flows flows (table 12). The increase more than offset the Table 12. Net Capital Inflows to South Asia, 2001­09 $ billions Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net private and official inflows 8.1 7.5 14.5 21.2 28.5 76.6 117.7 61.4 77.7 Percentage of GNI 1.3 1.1 1.9 2.3 2.7 6.5 7.8 4.0 4.7 Net equity inflows 8.9 7.8 13.5 16.8 23.6 36.4 68.4 32.9 58.8 Net FDI inflows 6.1 6.8 5.4 7.8 11.2 26.0 32.3 48.7 38.3 Net portfolio equity inflows 2.8 1.1 8.0 9.0 12.4 10.4 36.1 15.8 20.5 Net debt flows 0.9 0.4 1.0 4.4 4.9 40.2 49.3 28.5 18.8 Official creditors 2.1 2.3 4.1 0.3 2.9 3.5 4.4 8.6 9.5 World Bank 1.5 1.0 2.3 2.3 2.3 2.0 2.0 1.4 2.1 IMF 0.3 0.1 0.1 0.3 0.0 0.1 0.1 3.2 3.6 Other official creditors 0.3 1.4 1.8 2.4 0.6 1.6 2.4 4.0 3.8 Private creditors 3.0 2.0 5.1 4.7 2.0 36.7 44.9 19.9 9.3 Net medium- and long-term debt flows 2.1 0.1 3.1 4.0 0.2 19.9 32.0 12.0 10.3 Bonds 0.4 0.7 3.7 3.9 2.8 6.4 10.7 1.7 1.7 Banks and other private creditors 1.6 0.8 6.8 0.2 2.6 13.5 21.3 10.3 8.6 Net short-term debt flows 0.9 1.8 2.0 0.7 2.3 16.8 12.9 7.9 1.0 Change in reserves ( increase) 10.2 28.0 36.9 27.6 6.8 41.7 103.8 26.3 38.6 Memorandum item Worker remittances 19.2 24.1 30.4 28.7 33.9 42.5 54.0 71.6 74.9 Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD. 16 O V E R V I E W decline in net medium- and long-term bank financ- notably India, also dropped off sharply in 2009, ing and the reversal of short-term debt, which but Sri Lanka issued $500 million in development turned negative (-$1 billion from an $8 billion bonds; aimed at the Sri Lankan Diaspora, these inflow in 2008). bonds were oversubscribed. Bond issuance by cor- Net equity flows to the region rose by almost porate borrowers, again largely in India, rose to 80 percent in 2009 because of an important turn- $2.5 billion, five times the 2008 level. around in portfolio equity flows to India. Foreign Debt indicators are lower than those of Europe investors repatriated $16 billion in 2008 but came and Central Asia and Latin America and the Carib- back to the Indian stock market in 2009 as fears bean. Debt outstanding at the end of 2009 as a about the effect of the global economic crisis percentage of exports was 104.4 percent and the subsided with net inflows of $21 billion. India debt service to export ratio was 6.8 percent. But has also become one of the foremost recipients of there are important differences between countries: FDI among developing countries--the third larg- the debt-to-export ratio ranged from 86.6 percent est after China and Russia. Like those countries, in India to 235.2 percent in Pakistan. Similarly, India saw FDI fall in 2009, but by a moderate 19 reserves as a percentage of the stock of external percent. FDI to Pakistan fell by more than half, debt were 119.8 percent in India at the end of 2009 to $2.4 billion, as investors retreated because of compared to 25.3 percent in Pakistan. Reliance on concerns about the deteriorating economic and multilateral creditors is high: the share of outstand- security situation and the stalled privatization ing debt owed to multilateral creditors (including program. Portfolio equity flows to Pakistan also the IMF) was 30 percent at the end of 2009. dwindled to almost nothing in 2009, from $1.3 billion in 2007, because of similar concerns. Sub-Saharan Africa Countries in the region are relatively poor Net capital flows to Sub-Saharan Africa rose 16 and rely in large measure on official sources of percent in 2009, driven by a resurgence in port- financing, including official aid. Afghanistan, folio equity inflows, a more than 100 percent the second-highest aid recipient of all developing increase in the net debt inflows from official credi- countries, received 4 percent of global aid flows tors, and a 130 percent rise in net medium-term in 2008, and this trend is likely to be repeated in bank financing. Measured in terms of GNI, net 2009. Bangladesh, India, and Pakistan are also capital flows were 5.2 percent in 2009, higher among the top 10 aid recipients. Debt-related than in any other region (table 13). flows from official creditors rose by 10 percent FDI in the region, directed mainly to the min- in 2009. Pakistan was the largest recipient and erals and metals sector, constituted two-thirds of received almost 50 percent of disbursements to net capital flows (excluding grants) between 2001 the region in 2009 from multilateral creditors, and 2009. It declined in 2009, driven by falling including $3.3 billion in purchases from IMF. investment flows to South Africa, the region's larg- These purchases were made under the $7.6 billion est recipient of FDI since 2001. But overall the fall IMF program, approved in November 2008 and was much less than expected because reduced FDI increased by a further $3.2billion in July 2009. from high-income countries was offset by strong Disbursements in 2009 from the World Bank South-South FDI, and excluding South Africa, (IBRD and IDA combined) were $4 billion, almost FDI inflows declined only 1 percent in 2009. FDI identical to those of the Asian Development Bank to Nigeria, which received the highest share of to the region in 2009. all FDI to the region in 2009, rose by almost 20 The overall fall in debt-related flows from percent (mostly given to the hydrocarbon sector), private creditors was driven in large part by the and FDI to countries in the region classified as contraction in short-term (trade-related) debt to HIPCs fell only marginally. Portfolio equity flows India. Additionally, disbursements of medium- to South Africa rebounded to $9.4 billion, buoyed term financing by banks fell by about 10 percent by improved economic prospects and the sale of from their 2008 level, which, coupled with the Vodacom. They also turned positive in Nigeria continued rise in principal repayments, led to a 17 ($0.5 billion). percent decline in net inflow in 2009 compared to Many countries in the region remain on the 2008. Bond issuance by public sector borrowers, margins of international capital markets and 17 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 depend on official aid, mostly grants. Such aid South Africa accounts for almost all of the is projected to rise again in 2009, notwithstand- increase in medium-term financing from private ing the recessions in developed countries, but to creditors (bonds and banks). It returned to the remain below the target set by donors' "Renewed markets in March 2009 with a $2 billion sovereign Commitment to Africa," which called for aid to bond. Senegal became the second post­completion increase by $25 billion by 2010 from its 2004 point HIPC country (Ghana being the first) to issue level. Debt-related financing from official creditors an international bond: $200 million in December doubled in 2009 to $10 billion, led by a sharp rise 2009. Short-term debt flows to the region shrank in gross disbursements from multilateral credi- because of import contraction in Nigeria (down tors (including the IMF). IDA is the single most $4 billion) and South Africa (down $5 billion), the important multilateral creditor to the region, dis- main drivers. bursing $5 billion in 2009 (in loans and grants), Debt indicators have improved significantly a 13 percent rise over the comparable figure for since 2000 because of economic reforms, a favor- 2008. Twenty-four countries received financing able external environment, increased aid and debt under IMF programs, and IMF purchases rose 85 restructuring, and debt relief. Excluding South percent in 2009. Among the largest recipients were Africa, the stock of outstanding debt at the end Angola, the Democratic Republic of Congo, Côte of 2009 was 73 percent of exports and the debt d'Ivoire, and Tanzania. There was also a sharp service ratio had fallen to below 5 percent. Six upturn in market-based financing by the African countries in the region restructured $5 billion owed Development Bank. It committed $5 billion in to Paris Club creditors in 2009, of which $1 billion 2009, including $1.5 billion to Botswana (of which was forgiven (see annex A), and with support from $1.1 billion was disbursed immediately) and $2.7 the IDA Debt Reduction Facility Liberia bought billion to South Africa. Disbursements from bilat- back $1.2 billion at a discount of 97 percent. By the eral creditors (for the most part non-OECD coun- end of 2009, 21 of the 33 eligible African countries tries--notably China) jumped 37 percent but were had reached the HIPC completion point and had heavily concentrated in mineral-rich countries. received $74 billion in HIPC and MDRI debt relief. Table 13. Net Capital Inflows to Sub-Saharan Africa, 2001­09 $ billions Inflows 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net private and official inflows 11.1 10.1 14.6 24.0 33.0 42.4 53.2 38.9 45.3 Percentage of GNI 3.5 3.0 3.5 4.6 5.5 6.0 6.7 4.3 5.2 Net equity inflows 13.2 10.4 14.0 17.7 26.1 37.0 38.7 28.9 40.2 Net FDI inflows 14.1 10.8 13.3 11.0 18.0 20.2 28.5 34.5 30.3 Net portfolio equity inflows 0.9 0.4 0.7 6.7 8.1 16.8 10.1 5.6 10.0 Net debt flows 2.1 0.4 0.6 6.4 6.9 5.4 14.6 10.0 5.1 Official creditors 0.0 2.7 1.4 2.3 0.9 1.9 2.5 4.6 9.5 World Bank 1.8 2.2 2.2 2.5 2.4 2.2 2.4 1.9 3.1 IMF 0.1 0.5 0.0 0.1 0.4 0.1 0.1 0.7 2.2 Other official creditors 1.9 0.0 0.8 0.0 2.9 4.1 0.0 2.0 4.1 Private creditors 2.1 3.0 0.8 4.0 7.9 7.4 12.1 5.5 4.4 Net medium- and long-term debt flows 0.0 1.2 0.9 2.7 4.8 2.0 8.0 0.8 5.6 Bonds 1.9 1.5 0.4 0.6 1.3 0.3 6.7 0.7 1.9 Banks and other private creditors 1.9 2.7 0.5 2.1 3.5 2.3 1.4 1.6 3.7 Net short-term debt flows 2.1 1.8 1.7 1.4 3.0 9.4 4.0 4.6 10.0 Change in reserves ( increase) 0.2 0.7 3.5 21.7 19.9 32.5 27.0 10.9 1.9 Memorandum item Worker remittances 4.6 5.0 6.0 8.0 9.4 12.7 18.6 21.3 20.8 Sources: World Bank Debtor Reporting System, IMF, Bank for International Settlements, and OECD. 18 O V E R V I E W Annex A: Debt Restructuring in 2009 and interest as of June 30, 2009, and maturities due from July 1, 2009 to June 30, 2012. Of the Developments in 2009 amount restructured, $1 million was canceled The Paris Club restructured $5.2 billion in 2009 and $12 million was rescheduled. Creditors also for seven countries. Of these countries, six are eli- signaled their willingness to top up debt relief to gible for the HIPC Initiative. About 23 percent of Cologne terms (90 net percent value reduction) the restructured debt was canceled and the remain- once Comoros reaches the HIPC decision point. der rescheduled (table A1). The share of debt Côte d'Ivoire concluded an agreement in May canceled for each debtor country was dictated by 2009 that restructured claims totaling $4.7 billion. its progress under the HIPC process and the com- This agreement followed approval in March of a position of the debt owed to Paris Club creditors. new three-year arrangement under the IMF PRGF and the HIPC decision point by executive direc- Agreements with HIPC Countries tors of the IMF and the World Bank. The May Burundi became the 24th country to reach the agreement was concluded on Cologne terms (90 HIPC completion point in January 2009 and percent net present value reduction). The agree- concluded a stock of debt treatment with Paris ment restructured arrears of principal and interest Club creditors on March 11, 2009. The agreement as of March 31, 2009, and maturities falling due marked an exit from the Paris Club rescheduling from April 2009 to March 2012. Of the $4.7 bil- process and canceled claims valued at $129 mil- lion covered by the agreement, $3.8 billion was lion in nominal terms. rescheduled and $0.9 billion was canceled over the The Central African Republic became the three-year consolidation period. 25th country to reach the HIPC completion point Haiti became the 26th country to reach the in June 2009 and concluded a stock of debt treat- HIPC completion point in June 2009 and con- ment with Paris Club creditors in September 2009. cluded a stock of debt treatment with Paris Club The agreement, which marked an exit from the creditors on July 8, 2009. The agreement marked Paris Club rescheduling process, restructured an exit from the Paris Club rescheduling process $49.2 million, of which the entirety was canceled. and canceled claims valued at $62 million in nomi- The Comoros concluded an agreement in nal terms and restructured $98 million. November 2009 that restructured claims totaling Togo reached the HIPC decision point in $13 million. This agreement followed approval in November 2008 and became eligible for debt relief September 2009 of a new three-year arrangement on Cologne terms (90 percent net present value). under the IMF Poverty Reduction and Growth The agreement concluded in January 2009 topped Facility (PRGF) that was concluded on Naples up the debt relief of 67 percent (in net present terms (67 percent net present value reduction). value terms) accorded under the agreement of June The agreement restructured arrears of principal 2008 to 90 percent (in net present value terms). Table A.1. Paris Club Agreements, January 1­December 21, 2009 Amount ($ millions) Concessionality Consolidation period (% net Country Signature date Cutoff date Total Rescheduled Canceled present vaule) Start End Burundi March 11, 2009 June 1999 134.0 5.0 129.0 90 Stock Central African September 15, January 1983 49.2 0.0 49.2 90 Stock Republic 2009 Comoros November 19, June 1999 13.0 12.0 1.0 67 July 2009 June 2012 2009 Côte d'Ivoire May 15, 2009 July 1983 4,690.0 3,845.0 845.0 90 April 2009 March 2012 Haiti July 8, 2009 October 1993 161.0 98.9 62.7 90 Stock Seychelles April 16, 2009 December 163.0 89.6 73.4 50 October 2009 July 2010 2008 Togo January 22, 2009 January 1983 22.0 0.0 22.0 90 April 2008 Mar 2011 Sources: World Bank and Paris Club. 19 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 It covered $22 million in claims, of which the amount restructured (equivalent to 50 percent in entirety was canceled (in addition to the $347 mil- net present value terms) in two phases: 22.5 per- lion canceled under the 2008 agreement). cent on July 1, 2009, and a further 22.5 percent on July 1, 2010. Paris Club creditors required the Seychelles to seek comparable treatment from other Agreements with Non-HIPC Countries bilateral and external commercial creditors. Seychelles concluded a debt restructuring agree- ment with Paris Club creditors in April 2009 fol- lowing approval of a 2-year standby arrangement with the IMF in November 2008. This agreement was the country's first with Paris Club creditors, Note 1. Borrowers that have outstanding obligations to and it restructured a total of $163 million in claims, IBRD, and classified as high-income countries, and are not largely arrears and late interest charges. The agree- included in the DRS: Barbados, Croatia, Estonia, Hungary, ment was concluded under the Evian approach and the Republic of Korea, Latvia, Poland, the Slovak Republic, provided for the cancellation of 45 percent of the Slovenia, and Trinidad and Tobago. 20 . Summary Tables 21 S U M M A R Y T A B L E S Summary Table 1. Key Indebtedness Indicators, 2007­09 Ratio of present Ratio of total value of debt Total external Present value external debt to exports Ratio of total Ratio of present debt, 2009 of debt, 2009 to exports of goods of goods and external debt value of debt Country ($ millions) ($ millions) and services (%) services (%) to GNI (%) to GNI (%) Afghanistan 2,328 596 96 25 21 5 Albania 4,719 3,683 123 96 40 31 Algeria 5,345 4,719 6 5 4 3 Angola 16,715 14,228 25 21 28 24 Argentina 120,183 119,952 156 156 41 41 Armenia 4,935 3,656 200 148 48 36 Azerbaijan 4,865 3,701 18 14 13 10 Bangladesh 23,820 14,697 146 90 28 17 Belarus 17,158 15,228 57 51 34 30 Belize 1,092 811 135 100 94 70 Benin 1,073 738 90 62 17 12 Bhutan 762 625 106 87 61 50 Bolivia 5,745 2,446 81 34 38 16 Bosnia and Herzegovina 9,583 7,925 128 106 55 45 Botswana 1,617 1,001 25 16 13 8 Brazil 276,932 260,697 133 125 18 17 Bulgaria 40,582 36,959 145 132 93 85 Burkina Faso 1,835 1,272 222 154 24 17 Burundi 518 156 477 143 45 13 Cambodia 4,364 3,544 74 60 47 38 Cameroon 2,941 771 46 12 14 4 Cape Verde 707 381 113 61 49 27 Central African Republic 396 222 134 75 21 12 Chad 1,743 1,354 53 41 28 22 Chile 71,646 65,749 92 84 47 43 China 428,442 404,026 26 25 10 9 Colombia 52,223 44,370 131 111 24 20 Comoros 279 205 460 338 54 40 Congo, Dem. Rep. 12,183 2,384 362 71 122 24 Congo, Rep. 5,041 1,265 72 18 81 20 Costa Rica 8,070 7,573 54 50 29 27 Côte d'Ivoire 11,701 9,738 106 88 55 46 Djibouti 752 511 195 133 72 49 Dominica 252 211 162 136 73 61 Dominican Republic 11,003 9,248 86 73 26 22 Ecuador 12,930 11,816 65 59 25 23 Egypt, Arab Rep. 33,257 26,629 66 53 21 16 El Salvador 11,384 10,198 181 162 55 49 Eritrea 1,019 597 1,383 811 58 34 Ethiopia 5,025 2,931 153 89 20 12 Fiji 432 390 26 23 13 12 Gabon 2,130 1,990 19 18 20 19 Gambia, The 520 203 207 81 76 30 Georgia 4,231 3,064 111 80 38 28 Ghana 5,720 4,235 81 60 37 27 Grenada 531 580 269 293 90 98 Guatemala 13,801 12,013 144 126 38 33 Guinea 2,926 1,980 225 152 65 44 Guinea-Bissau 1,111 848 847 647 265 203 Guyana 1,036 668 107 69 92 59 Haiti 1,244 989 142 113 19 15 Honduras 3,675 1,775 51 25 28 13 India 237,692 212,262 80 71 19 17 (table continues on next page) 23 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Summary Table 1. Key Indebtedness Indicators, 2007­09 (continued) Ratio of present Ratio of total value of debt Total external Present value external debt to exports Ratio of total Ratio of present debt, 2009 of debt, 2009 to exports of goods of goods and external debt value of debt Country ($ millions) ($ millions) and services (%) services (%) to GNI (%) to GNI (%) Indonesia 157,517 140,615 111 99 33 30 Iran, Islamic Rep. 13,435 11,667 -- -- 4 4 Jamaica 10,959 10,991 177 178 82 82 Jordan 6,615 5,603 54 46 31 27 Kazakhstan 109,873 97,124 177 157 109 96 Kenya 8,005 5,689 101 72 27 19 Kosovo 359 223 41 25 7 4 Kyrgyz Republic 2,900 1,576 113 62 66 36 Lao PDR 5,539 3,963 325 233 109 78 Lebanon 24,864 24,132 108 105 82 80 Lesotho 705 388 49 27 34 19 Liberia 1,660 1,977 291 347 265 316 Lithuania 31,717 28,939 131 120 79 72 Macedonia, FYR 5,589 5,188 107 100 64 59 Madagascar 2,213 1,464 89 59 26 17 Malawi 1,093 649 110 65 27 16 Malaysia 66,390 60,881 29 27 34 31 Maldives 780 630 85 69 66 54 Mali 2,667 1,200 114 51 32 14 Mauritania 2,029 2,602 119 153 65 83 Mauritius 742 589 14 11 9 7 Mexico 192,008 176,766 67 61 20 18 Moldova 3,457 3,157 119 109 60 55 Mongolia 2,212 1,497 84 57 51 35 Montenegro 2,308 2,025 115 100 56 49 Morocco 23,752 19,578 79 65 28 23 Mozambique 4,168 1,589 138 53 47 18 Myanmar 8,186 5,187 -- -- -- -- Nepal 3,683 2,728 208 154 31 23 Nicaragua 4,420 2,090 145 68 76 36 Niger 991 633 105 67 20 13 Nigeria 7,846 5,936 11 8 5 4 Pakistan 53,710 38,732 218 157 33 24 Panama 12,418 11,464 72 66 58 54 Papua New Guinea 1,555 1,287 25 21 21 18 Paraguay 4,323 3,760 55 48 30 26 Peru 29,593 26,341 87 78 26 23 Philippines 62,911 54,814 104 90 40 35 Romania 117,511 94,557 206 166 66 53 Russian Federation 381,339 348,913 81 74 28 26 Rwanda 747 353 136 64 17 8 Samoa 235 136 137 79 46 27 São Tomé and Principe 186 18 900 89 106 11 Senegal 3,503 2,492 103 73 28 20 Serbia 33,402 30,484 244 223 78 71 Seychelles 1,624 1,701 181 189 200 210 Sierra Leone 444 368 125 104 24 20 Solomon Islands 156 110 60 43 30 21 Somalia 2,973 3,710 -- -- -- --. South Africa 42,101 42,043 44 44 15 15 Sri Lanka 17,208 13,257 176 136 46 35 St. Kitts and Nevis 227 195 100 86 44 38 St. Lucia 416 343 81 67 47 39 (table continues on next page) 24 S U M M A R Y T A B L E S Summary Table 1. Key Indebtedness Indicators, 2007­09 (continued) Ratio of present Ratio of total value of debt Total external Present value external debt to exports Ratio of total Ratio of present debt, 2009 of debt, 2009 to exports of goods of goods and external debt value of debt Country ($ millions) ($ millions) and services (%) services (%) to GNI (%) to GNI (%) St. Vincent and the Grenadines 209 166 95 76 38 30 Sudan 20,139 35,082 202 352 42 73 Swaziland 418 379 17 16 15 13 Syrian Arab Republic 5,236 4,413 28 24 11 9 Tajikistan 2,514 1,792 159 114 55 39 Tanzania 7,325 2,648 157 57 37 13 Thailand 58,755 54,554 30 28 23 22 Togo 1,640 1,360 164 136 60 50 Tonga 105 66 169 107 32 20 Tunisia 21,709 19,650 89 80 60 54 Turkey 251,372 231,439 157 144 38 35 Turkmenistan 576 525 5 4 4 3 Uganda 2,490 1,132 76 34 18 8 Ukraine 93,153 89,029 128 123 65 62 Uruguay 12,159 10,868 135 121 41 37 Uzbekistan 4,109 3,329 36 29 15 12 Vanuatu 130 96 48 35 22 16 Venezuela, RB 54,503 54,906 66 66 19 19 Vietnam 28,674 21,704 45 34 35 27 Yemen, Rep. 6,356 4,052 74 47 27 17 Zambia 3,049 1,172 63 24 26 10 Zimbabwe 5,015 6,247 269 335 -- 0 Source: World Bank data. Note: GNI = gross national income; -- = not available. 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 Country (HIPC) Initiative, and 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 post­completion point HIPCs on debt owed to the three institutions. The Inter-American Development Bank (IDB) provides similar debt stock cancellation under the IDB 2007 Debt Initiative. MDRI debt relief provides 100 percent stock cancellation on debt disbursed before the end of 2004 (for the IMF, AfDF, and IDB) or the end of 2003 (for IDA) and still outstanding at the time the coun- try 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 Initiative is included for countries in the interim period (between the decision and completion points of the HIPC Initiative). 25 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Summary Table 2. Composition of Total External Debt Stocks, 2009 $ millions Public and Public and publicly Public and publicly Total external Total long-term guaranteed debt, publicly guaranteed guaranteed Country debt stocks external debt multilateral debt, bilateral debt, bonds Afghanistan 2,328 2,203 1,112 1,090 0 Albania 4,719 3,813 1,504 660 0 Algeria 5,345 3,853 11 2,039 0 Angola 16,715 13,722 441 4,379 0 Argentina 120,183 100,646 16,156 6,172 49,670 Armenia 4,935 3,837 1,427 948 0 Azerbaijan 4,865 3,993 1,462 730 0 Bangladesh 23,820 21,206 18,376 2,746 0 Belarus 17,158 6,262 261 4,368 0 Belize 1,092 1,076 245 162 21 Benin 1,073 990 801 188 0 Bhutan 762 762 286 476 0 Bolivia 5,745 5,191 1,978 482 0 Bosnia and Herzegovina 9,583 7,620 2,197 845 322 Botswana 1,617 1,388 1,252 135 0 Brazil 276,932 237,143 2,4753 7,632 47,361 Bulgaria 40,582 22,004 2,507 815 1,430 Burkina Faso 1,835 1,725 1,402 303 0 Burundi 518 420 322 98 0 Cambodia 4,364 4,099 1,501 2,598 0 Cameroon 2,941 2,743 682 1,435 0 Cape Verde 707 695 532 156 0 Central African Republic 396 250 60 156 0 Chad 1,743 1,711 1,479 199 0 Chile 71646 54,170 848 193 5,413 China 428,442 187,933 33,156 34,923 10,826 Colombia 52,223 48,113 14,732 514 17,159 Comoros 279 264 215 49 0 Congo, Dem. Rep. 12,183 10,788 4,187 6,310 0 Congo, Rep. 5,041 4,785 463 3,398 0 Costa Rica 8,070 5,728 1,178 392 1,435 Côte d'Ivoire 11,701 11,250 2,374 6,540 1,931 Djibouti 752 732 403 314 0 Dominica 252 193 116 36 34 Dominican Republic 11,003 8,557 2,608 2,657 1,076 Ecuador 12,930 11,511 4,336 1,509 873 Egypt, Arab Rep. 33,257 30,696 8,413 19,915 1,883 El Salvador 11,384 9,270 3,200 667 2,174 Eritrea 1,019 1,013 658 315 0 Ethiopia 5,025 4,812 2,310 1,243 0 Fiji 432 362 104 107 150 Gabon 2,130 2,022 401 525 901 Gambia, The 520 449 314 135 0 Georgia 4,231 3,114 1,535 560 500 26 S U M M A R Y T A B L E S Public and publicly Private guaranteed debt, Private nonguaranteed commercial banks nonguaranteed debt, commercial and other debt, bonds banks and other IBRD (memo) IDA (memo) Use of IMF credit Short-term debt 0 0 0 0 471 106 20 665 0 983 24 849 71 835 821 0 982 10 0 0 1,492 8,902 0 0 0 385 359 2,634 924 6,850 20,873 5,305 0 0 19,537 1 0 1,461 53 1,161 587 512 1,212 0 590 199 739 62 810 84 0 0 0 10,746 675 1,939 128 19 1,485 256 0 2,871 8,024 634 0 14 16 0 7 8 0 0 0 0 309 39 45 0 0 0 0 114 0 0 84 0 2,647 0 316 0 554 206 0 4,051 417 1,102 286 1,677 2 0 0 0 5 0 229 7,571 53,342 96,483 10,065 0 0 39,789 21 146 17,085 1,509 0 0 18,578 20 0 0 0 721 110 0 0 0 0 0 147 91 7 0 0 0 0 566 0 265 11 0 615 30 273 175 23 6 0 0 0 286 11 2 34 0 0 0 9 78 67 33 0 0 0 896 29 4 2,827 6,584 38,304 215 1 0 17,476 14,220 7,020 87,788 12,705 9,521 0 240,509 2,959 2,709 10,040 6,570 1 0 4,110 0 0 0 0 120 10 5 292 0 0 0 2,497 800 596 924 0 0 0 298 43 213 185 0 2,538 57 0 0 2341 134 0 271 42 1,781 352 99 15 0 0 0 1,58 16 5 6 0 0 1 28 20 40 1,373 843 0 748 8 767 1,679 192 0 4,600 532 11 0 1,419 410 0 74 1,850 1,400 0 2,561 90 0 3,139 569 9 0 2,114 41 0 0 0 477 0 6 1,259 0 0 0 1,422 168 45 0 0 1 0 0 0 70 195 0 0 18 0 0 108 1 0 0 0 64 29 42 1 0 518 100 1,153 786 330 (table continues on next page) 27 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Summary Table 2. Composition of Total External Debt Stocks, 2009 (continued) $ millions Public and Public and publicly Public and publicly Total external Total long-term guaranteed debt, publicly guaranteed guaranteed Country debt stocks external debt multilateral debt, bilateral debt, bonds Ghana 5,720 4,126 2,230 339 750 Grenada 531 462 161 88 210 Guatemala 13,801 1,2575 3,620 356 955 Guinea 2,926 2,827 1,827 966 0 Guinea-Bissau 1,111 950 507 443 0 Guyana 1,036 781 448 312 0 Haiti 1,244 1,078 520 558 0 Honduras 3,675 3,326 1,517 843 50 India 237,692 194,741 41,486 22,780 5,542 Indonesia 157,517 138,854 21,052 42,272 14,344 Iran, Islamic Rep. 13,435 7,524 836 1,418 0 Jamaica 10,959 9,905 1,520 887 3,890 Jordan 6,615 5,445 2,361 2,740 181 Kazakhstan 109,873 101,197 1,349 1,137 0 Kenya 8,005 6,543 3,862 2,330 0 Kosovo 359 359 359 0 0 Kyrgyz Republic 2,900 2,652 1,310 1,010 0 Lao PDR 5,539 5,523 2,003 920 0 Lebanon 24,864 21,649 1,301 1,008 18,105 Lesotho 705 681 607 60 0 Liberia 1,660 677 155 502 0 Lithuania 31,717 25,767 1,239 0 7,816 Macedonia, FYR 5,589 3,689 1,081 240 468 Madagascar 2,213 1,851 1,447 393 0 Malawi 1,093 899 540 349 0 Malaysia 66,390 42,696 303 3,789 13,316 Maldives 780 569 288 183 0 Mali 2,667 2,592 1,504 1,081 0 Mauritania 2,029 1,851 1,114 725 0 Mauritius 742 742 370 201 0 Mexico 192,008 168,672 17,232 3,980 58,890 Moldova 3,457 1,985 514 265 0 Mongolia 2,212 1,958 1,069 664 75 Montenegro 2,308 1,101 591 302 0 Morocco 23,752 21,573 10,021 6,694 0 Mozambique 4,168 3,354 1,996 1,330 0 Myanmar 8,186 6,320 1,341 4,004 0 Nepal 3,683 3,563 3,211 349 0 Nicaragua 4,420 3,554 1,448 1,010 0 Niger 991 916 684 225 0 Nigeria 7,846 4,332 3,391 492 0 Pakistan 53,710 44,749 23,506 15,591 2,150 Panama 12,418 12,418 1,626 207 9,219 28 S U M M A R Y T A B L E S Public and publicly Private guaranteed debt, Private nonguaranteed commercial banks nonguaranteed debt, commercial and other debt, bonds banks and other IBRD (memo) IDA (memo) Use of IMF credit Short-term debt 806 0 0 0 1,581 271 1,323 2 0 0 11 39 23 46 0 5 7,639 1,112 0 0 1,226 35 0 0 0 1,269 59 40 0 0 0 0 304 10 151 21 0 0 0 10 58 197 0 0 0 0 39 166 0 37 0 880 0 502 32 317 6,723 15,331 102,880 8,048 25,980 0 42,950 8,352 5,897 46,937 7,876 2,234 0 18,662 5,269 0 0 836 0 0 5,911 367 3,215 26 398 0 0 1,054 163 0 0 1074 34 12 1,158 1 22,097 76,613 547 0 0 8,676 352 0 0 0 3,156 451 1,011 0 0 0 359 0 0 0 0 0 332 0 656 167 81 0 0 2,601 0 680 16 0 565 670 0 318 0 119 3,096 14 0 0 3 311 24 0 21 0 0 0 69 891 92 4 1,030 15,679 23 0 0 5,949 84 0 1,816 271 382 0 1,900 7 0 4 0 1,105 101 262 10 0 0 0 213 127 67 3,955 5,927 15,406 39 0 0 23,695 97 0 0 0 84 9 202 7 0 0 0 698 44 32 12 0 0 0 282 16 163 90 0 81 204 8 0 0 19,272 21,525 47,774 10,143 0 0 23,335 4 0 1,203 110 332 154 1,318 9 0 141 0 392 182 72 201 0 8 261 75 0 1,207 2,504 0 2,354 2,543 14 0 2,179 28 0 0 0 1,356 171 643 976 0 0 0 777 0 1,866 4 0 0 0 1,483 76 44 4 0 1,093 0 418 150 716 0 0 7 0 266 57 18 273 175 0 113 2,739 0 3,514 237 850 2,415 1,769 10,075 7,495 1,466 230 1,061 75 435 0 0 0 (table continues on next page) 29 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Summary Table 2. Composition of Total External Debt Stocks, 2009 (continued) $ millions Public and Public and publicly Public and publicly Total external Total long-term guaranteed debt, publicly guaranteed guaranteed Country debt stocks external debt multilateral debt, bilateral debt, bonds Papua New Guinea 1,555 1,434 724 276 0 Paraguay 4,323 3,571 1,398 628 0 Peru 29,593 24,863 8,378 3,352 8911 Philippines 62,911 58,909 8,448 13,611 18,522 Romania 117,511 86,935 10,518 692 2,809 Russian Federation 381,339 350,715 3,724 3,599 69,580 Rwanda 747 725 631 94 0 Samoa 235 226 180 46 0 São Tomé and Principe 186 172 43 128 0 Senegal 3,503 3,318 1,810 949 200 Serbia 33,402 27,801 4,442 3,109 0 Seychelles 1,624 643 50 159 307 Sierra Leone 444 371 308 63 0 Solomon Islands 156 154 111 21 0 Somalia 2,973 1987 805 1,145 0 South Africa 42,101 28,827 227 0 9279 Sri Lanka 17,208 14,614 5,875 6,054 1,000 St. Kitts and Nevis 227 222 98 40 29 St. Lucia 416 344 197 25 55 St. Vincent and the Grenadines 209 202 121 21 0 Sudan 20,139 12,998 3,154 7,395 0 Swaziland 418 391 255 116 0 Syrian Arab Republic 5,236 4,480 1,657 2,824 0 Tajikistan 2,514 2,458 826 777 0 Tanzania 7,325 5,653 3,573 947 0 Thailand 58,755 30,873 208 6,261 1,754 Togo 1,640 1,502 837 665 0 Tonga 105 105 73 31 0 Tunisia 21,709 16,907 6,511 3,448 3,776 Turkey 251,372 203,689 16,870 6,284 40,808 Turkmenistan 576 501 17 392 0 Uganda 2,490 2,245 2,017 203 0 Ukraine 93,153 62,306 4,237 1,547 3,121 Uruguay 12,159 11,035 3,653 135 7,094 Uzbekistan 4,109 3,965 1,065 1,843 0 Vanuatu 130 99 69 30 0 Venezuela, RB 54,503 38,494 3,120 1,010 28,360 Vietnam 28,674 23,403 10,312 11,346 1,041 Yemen, Rep. 6,356 5,861 3,159 2,698 0 Zambia 3,049 2,230 881 222 0 Zimbabwe 5,015 3,831 1619 1,677 0 All developing countries 3,545,114 2,759,199 438,044 326,017 475,768 30 S U M M A R Y T A B L E S Public and publicly Private guaranteed debt, Private nonguaranteed commercial banks nonguaranteed debt, commercial and other debt, bonds banks and other IBRD (memo) IDA (memo) Use of IMF credit Short-term debt 36 0 397 149 82 0 121 282 0 1,263 281 15 0 752 149 2,097 1,976 2,846 0 0 4,730 1,157 956 16,215 2,488 181 0 4,002 3,885 35 68,996 2,995 0 9,544 21,032 23,087 73,331 177,395 3,211 0 0 30,624 0 0 0 0 254 15 6 0 0 0 0 80 9 0 0 0 0 0 14 4 10 2 0 357 0 921 167 18 1,175 165 18,911 1,783 676 1,601 4,000 127 0 0 0 0 19 962 0 0 0 0 124 73 0 0 0 21 0 44 0 2 38 0 0 0 448 176 810 5,558 6,049 7,715 21 0 0 13,274 718 0 967 0 2,487 721 1,873 55 0 0 12 1 3 1 67 0 0 19 50 11 62 60 0 0 3 20 6 1 2,449 0 0 0 1,306 403 6,739 20 0 0 8 2 0 27 0 0 0 0 16 0 756 0 0 855 0 373 41 15 118 0 1,016 0 2,598 329 1,342 2,962 3,040 16,649 74 59 0 27,881 0 0 0 0 586 91 47 1 0 0 0 23 0 0 1,101 0 2,070 1,385 20 0 4,801 20,913 6,606 112,207 9,769 48 7,958 39,725 54 0 38 13 0 0 75 25 0 0 0 1,379 9 235 1,544 5,059 46,798 3,294 0 10,974 19,873 72 80 0 1,099 0 0 1,124 330 0 727 284 83 0 144 0 0 0 0 12 0 31 2,694 3,310 0 0 0 0 16,009 704 0 0 0 6,270 84 5,186 5 0 0 0 2,187 53 442 107 0 1,020 0 407 345 474 446 0 89 463 522 116 1,068 167,161 256,025 1,096,185 107,984 116,903 52,179 73,3736 (table continues on next page) 31 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Summary Table 2. Composition of Total External Debt Stocks, 2009 (continued) $ millions Public and Public and publicly Public and publicly Total external Total long-term guaranteed debt, publicly guaranteed guaranteed Country debt stocks external debt multilateral debt, bilateral debt, bonds Region or Group East Asia and Pacific 825,602 502,950 80,654 120,900 60,029 Europe and Central Asia 1,126,252 925,764 59,033 30,122 126,853 Latin America and the Caribbean 912,980 773,100 115,208 33,869 242,880 Middle East and North Africa 141,321 118,719 34,673 43,096 23,946 South Asia 339,983 282,407 94,140 49,269 8,692 Sub-Saharan Africa 198,976 156,260 54,335 48,761 13,368 Low-income countries 135,593 116,809 68,594 36,764 750 Middle-income countries 3,409,521 2,642,391 369,450 289,252 475,018 Source: World Bank data. Note: IBRD = International Bank for Reconstruction and Development; IDA = International Development Association; IMF = International Monetary Fund. 32 S U M M A R Y T A B L E S Public and publicly Private guaranteed debt, Private nonguaranteed commercial banks nonguaranteed debt, commercial and other debt, bonds banks and other IBRD (memo) IDA (memo) Use of IMF credit Short-term debt 32,372 22,840 186,154 23,332 20,921 291 322,361 53,516 108,489 547,750 25,479 7,631 35,103 165,385 40,159 101,621 239,364 40,439 1,468 1,243 138,637 10,853 670 5,480 8,016 3,831 200 22,402 7,863 16,181 106,261 9,817 51,440 9,081 48,495 22,396 6,224 11,175 900 31,612 6,261 36,456 4,754 0 5,946 463 39,115 5,951 1,2833 162,406 256,025 1,090,239 107,521 77,788 46,227 720,903 33 . Regional and Income Group Aggregate Tables 35 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 1,253,016 1,860,250 2,122,096 2,488,733 2,643,251 3,180,004 3,425,383 3,545,114 Long-term external debt 1,032,168 1,469,667 1,776,864 1,964,829 2,067,087 2,421,910 2,672,049 2,759,199 Public and publicly guaranteed 972,552 1,261,176 1,287,114 1,283,181 1,210,859 1,308,265 1,348,023 1,406,990 Private nonguaranteed 59,616 208,491 489,750 681,648 856,227 1,113,645 1,324,026 1,352,210 Use of IMF credit 33,626 59,721 58,231 49,179 19,859 15,540 24,915 52,179 Short-term external debt 187,222 330,863 287,001 474,725 556,305 742,554 728,419 733,736 interest arrears on long-term 44,689 44,539 31,838 28,665 26,334 27,933 27,807 26,726 Memorandum items Principal arrears on long-term 53,981 104,656 60,834 46,432 45,071 47,985 49,621 51,557 Long-term public sector debt 966,765 1,256,108 1,281,244 1,278,690 1,206,587 1,303,504 1,342,408 1,395,767 Long-term private sector debt 65,403 213,559 495,621 686,139 860,500 1,118,406 1,329,641 1,363,432 Public & publicly guaranteed commitments 112,931 140,532 145,847 157,350 140,021 189,986 176,452 216,718 External debt flows Disbursements 121,319 209,469 235,818 384,285 458,638 646,010 623,104 537,473 Long-term external debt 113,870 181,686 225,703 380,324 454,524 643,997 609,344 509,127 IMF purchases 7,449 27,783 10,114 3,961 4,113 2,013 13,760 28,346 Principal repayments 79,142 120,565 232,711 335,002 383,247 363,027 399,192 408,234 Long-term external debt 71,317 111,927 212,119 290,880 352,428 355,872 395,392 406,390 IMF repurchases 7,825 8,638 20,592 44,122 30,819 7,155 3,800 1,844 Net flows 56,358 142,985 -5,176 123,777 159,301 467,229 209,903 135,637 Long-term external debt 42,553 69,759 13,584 89,444 102,096 288,124 213,952 102,737 Short-term external debt 14,181 54,082 -8,282 74,494 83,911 184,246 -14,009 6,398 Interest payments 60,784 85,012 112,421 103,589 117,309 135,710 140,568 124,324 Long-term external debt 48,917 67,476 93,744 84,843 95,089 109,172 120,257 110,205 IMF charges 2,415 2,623 2,863 3,277 1,622 710 979 554 Short-term external debt 9,452 14,912 15,815 15,469 20,597 25,828 19,332 13,565 2. Other non-debt resource inflows Foreign direct investment 21,609 94,658 148,373 273,590 343,337 508,131 587,109 354,088 Portfolio equity 3,390 13,779 13,955 67,498 107,674 135,080 -53,193 108,157 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 14.2 15.1 15.6 14.2 15.0 Japanese yen 10.9 13.0 12.0 10.1 10.2 9.3 11.1 10.6 Pound sterling 2.4 1.6 1.0 1.1 0.8 0.6 0.4 0.5 Swiss franc 1.7 1.1 0.4 0.6 0.6 0.6 0.6 0.5 U.S.dollars 44.5 47.9 62.8 65.6 65.2 66.0 66.2 66.0 4. Average terms of new commitments Official creditors Interest (%) 5.4 5.8 4.8 3.6 3.9 3.7 2.9 2.1 Maturity (years) 22.8 19.2 20.2 22.1 22.8 23.2 23.6 21.2 Grace period (years) 6.6 5.3 5.1 5.7 6.2 6.5 6.7 6.2 Private creditors Interest (%) 8.5 6.5 8.1 6.3 6.2 6.3 6.0 6.3 Maturity (years) 11.7 7.4 11.3 11.2 12.1 10.8 11.8 10.0 Grace period (years) 4.9 3.4 8.4 8.7 9.5 7.9 8.1 8.6 5. Major economic aggregates Gross national income (GNI) 3,530,181 4,791,570 5,614,158 9,427,817 11,189,833 13,856,781 16,589,721 16,023,321 Exports of goods, services & income 651,786 1,140,219 1,652,400 3,329,578 4,057,884 4,911,991 5,863,632 4,755,347 Worker remit. & comp. of employees 30,760 54,593 80,196 190,644 225,325 277,165 323,542 305,200 Imports of goods, services & income 718,403 1,300,105 1,703,631 3,209,914 3,840,260 4,709,354 5,732,392 4,588,788 Profit remittances on FDI 16,118 36,709 67,741 163,147 232,181 299,410 340,938 243,805 International reserves 178,522 438,799 641,834 1,976,647 2,610,837 3,694,463 4,147,161 4,820,982 6. Ratios External debt stocks to exports (%) 192.2 163.1 128.4 74.7 65.1 64.7 58.4 74.6 External debt stocks to GNI (%) 35.5 38.8 37.8 26.4 23.6 22.9 20.6 22.1 Debt service to exports (%) 21.5 18.0 20.9 13.2 12.4 10.2 9.2 11.3 Short-term to external debt stocks (%) 14.9 17.8 13.5 19.1 21.0 23.4 21.3 20.7 Multilateral to external debt stocks (%) 16.0 15.0 15.4 15.0 13.2 11.7 11.5 12.4 Reserves to external debt stocks (%) 14.2 23.6 30.2 79.4 98.8 116.2 121.1 136.0 Reserves to imports (months) 3.0 4.1 4.5 7.4 8.2 9.4 8.7 12.6 36 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 1,032,168 1,469,667 1,776,864 1,964,829 2,067,087 2,421,910 2,672,049 2,759,199 Public and publicly guaranteed 972,552 1,261,176 1,287,114 1,283,181 1,210,859 1,308,265 1,348,023 1,406,990 Official creditors 519,825 764,715 751,068 714,294 636,047 666,297 707,661 764,061 Multilateral 199,951 278,613 326,080 373,417 347,610 372,517 393,444 438,044 of which: IBRD 90,637 106,385 108,080 96,259 92,286 93,566 96,635 107,984 IDA 45,278 71,495 86,796 121,077 99,005 107,675 111,269 116,903 Bilateral 319,874 486,102 424,988 340,876 288,437 293,780 314,217 326,017 Private creditors 452,727 496,461 536,045 568,887 574,812 641,968 640,361 642,929 of which: Bonds 99,350 220,462 341,857 400,332 409,075 452,166 462,290 475,768 Commercial banks 224,277 146,865 125,865 125,757 128,188 157,275 150,135 136,340 Private nonguaranteed 59,616 208,491 489,750 681,648 856,227 1,113,645 1,324,026 1,352,210 of which: Bonds 347 51,018 89,492 154,026 190,151 250,422 240,701 256,025 Disbursements 113,870 181,686 225,703 380,324 454,524 643,997 609,344 509,127 Public and publicly guaranteed 96,613 128,191 134,860 142,528 140,018 181,983 171,783 190,191 Official creditors 48,480 64,866 52,307 46,011 54,105 58,469 68,007 96,430 Multilateral 26,496 31,094 34,186 34,281 39,732 43,055 47,360 69,770 of which: IBRD 13,086 12,537 12,906 9,178 11,933 10,498 13,608 22,125 IDA 4,330 5,474 5,219 7,207 6,771 7,358 6,864 8,701 Bilateral 21,984 33,772 18,121 11,730 14,373 15,413 20,646 26,660 Private creditors 48,133 63,325 82,553 96,517 85,912 123,515 103,776 93,761 of which: Bonds 4,226 21,993 55,784 61,066 56,972 72,216 72,936 68,909 Commercial banks 14,592 22,190 18,109 31,732 24,160 47,941 28,446 19,047 Private nonguaranteed 17,257 53,495 90,844 237,796 314,507 462,013 437,561 318,936 of which: Bonds 291 14,063 10,810 46,898 53,017 83,950 25,655 36,484 Principal repayments 71,317 111,927 212,119 290,880 352,428 355,872 395,392 406,390 Public and publicly guaranteed 64,096 86,009 114,161 145,812 191,885 128,023 144,276 116,937 Official creditors 22,579 42,585 47,474 69,878 96,994 53,328 50,130 46,503 Multilateral 11,656 19,649 22,544 26,634 36,465 26,480 26,972 25,471 of which: IBRD 7,804 11,364 9,409 12,066 17,168 10,844 10,924 10,838 IDA 248 542 948 1,621 1,779 1,836 2,296 2,250 Bilateral 10,923 22,935 24,929 43,243 60,529 26,848 23,158 21,032 Private creditors 41,517 43,424 66,688 75,935 94,891 74,695 94,145 70,435 of which: Bonds 4,270 11,091 31,454 44,630 60,268 43,632 54,625 32,872 Commercial banks 19,870 15,281 23,256 22,316 25,154 23,971 32,337 30,198 Private nonguaranteed 7,221 25,918 97,958 145,067 160,543 227,849 251,117 289,453 of which: Bonds 0 4,042 15,002 15,063 17,973 24,350 19,902 21,401 Interest payments 48,917 67,476 93,744 84,843 95,089 109,172 120,257 110,205 Public and publicly guaranteed 44,375 56,580 63,139 60,506 56,335 59,643 59,040 53,955 Official creditors 17,921 27,395 25,961 23,904 19,694 20,163 18,960 16,885 Multilateral 10,239 13,153 15,208 10,572 11,659 12,859 12,287 10,422 of which: IBRD 6,753 7,610 7,444 4,013 4,777 5,430 4,572 3,415 IDA 301 503 577 897 811 758 908 798 Bilateral 7,682 14,241 10,753 13,332 8,035 7,303 6,674 6,463 Private creditors 26,455 29,185 37,179 36,602 36,641 39,481 40,080 37,071 of which: Bonds 4,100 14,713 25,000 30,143 28,861 31,151 31,730 30,744 Commercial banks 15,991 7,822 8,566 4,921 6,258 6,541 6,672 5,104 Private nonguaranteed 4,542 10,897 30,605 24,337 38,755 49,529 61,217 56,250 of which: Bonds 3 3,172 7,774 8,809 13,935 16,186 15,993 16,188 8. Debt stock-flow reconciliation Total change in external debt stocks 92,997 169,892 -63,271 -19,198 154,518 536,754 245,379 .. 750 Non-debt flows (bill US$) Net flows on external debt 56,358 142,985 200 -5,176 123,777 Debt 159,301 ratios467,229 (%) 209,903 0 Cross-currency valuation 43,490 3,160 -49,519 -75,273 -6,942 38,092 14,228 .. 9. Debt restructurings Total amount rescheduled 75,505 30,719 61,338 150 32,824 4,788 3,150 1,618 .. Total amount forgiven 500 12,370 2,244 945 20,525 16,122 3,249 2,180 .. Debt buyback 4,359 162 16,072 736 5,450 6,035 3,998 .. 100 250 50 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 37 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 233,974 455,544 496,687 614,625 648,706 726,940 756,756 825,602 Long-term external debt 194,526 345,382 418,614 408,562 425,941 448,695 489,681 502,950 Public and publicly guaranteed 172,986 255,399 271,459 262,047 261,218 260,896 278,116 293,956 Private nonguaranteed 21,541 89,982 147,155 146,515 164,723 187,799 211,565 208,994 Use of IMF credit 2,085 1,337 16,452 8,545 239 215 162 291 Short-term external debt 37,363 108,826 61,621 197,519 222,526 278,031 266,914 322,361 interest arrears on long-term 1,886 2,952 5,336 1,088 991 1,121 1,155 1,226 Memorandum items Principal arrears on long-term 2,965 10,943 7,461 5,920 4,670 5,329 5,478 5,779 Long-term public sector debt 172,443 254,012 271,107 261,526 260,723 260,463 277,689 289,041 Long-term private sector debt 22,083 91,370 147,507 147,036 165,219 188,232 211,992 213,908 Public & publicly guaranteed commitments 23,347 46,429 26,963 24,974 20,208 19,177 28,566 42,088 External debt flows Disbursements 29,489 59,108 41,428 74,963 76,940 90,725 88,543 85,403 Long-term external debt 29,431 58,906 39,935 74,963 76,940 90,725 88,543 85,229 IMF purchases 58 203 1,493 0 0 0 0 174 Principal repayments 18,645 32,240 47,836 68,857 71,484 76,062 73,504 82,516 Long-term external debt 17,359 31,850 47,568 67,260 63,005 76,027 73,455 82,465 IMF repurchases 1,286 390 267 1,597 8,479 35 49 50 Net flows 18,630 54,088 -17,219 40,937 30,560 70,037 3,888 58,264 Long-term external debt 12,072 27,056 -7,633 7,703 13,935 14,698 15,088 2,763 Short-term external debt 7,786 27,220 -10,812 34,831 25,105 55,374 -11,151 55,376 Interest payments 12,501 20,622 25,180 17,876 22,011 25,496 23,038 19,908 Long-term external debt 10,147 15,539 20,377 12,859 14,257 17,461 16,859 15,345 IMF charges 245 69 793 336 308 3 1 2 Short-term external debt 2,109 5,014 4,011 4,682 7,446 8,032 6,178 4,561 2. Other non-debt resource inflows Foreign direct investment 10,512 50,797 45,168 104,348 105,666 177,106 186,610 102,486 Portfolio equity 440 3,746 6,589 25,684 56,191 35,093 -7,340 29,850 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.3 8.9 9.1 7.5 6.5 Japanese yen 29.1 28.2 28.3 26.4 25.2 24.3 27.2 24.6 Pound sterling 1.0 0.4 0.5 0.8 0.7 0.7 0.4 0.4 Swiss franc 1.0 0.5 0.2 0.3 0.2 0.2 0.2 0.2 U.S.dollars 23.6 36.7 55.9 57.1 58.3 58.9 58.7 62.6 4. Average terms of new commitments Official creditors Interest (%) 4.9 5.3 3.8 3.1 4.2 3.3 2.4 1.5 Maturity (years) 24.7 22.0 26.9 24.9 25.1 25.4 24.8 24.6 Grace period (years) 7.1 5.6 6.3 6.7 6.5 7.2 7.1 6.2 Private creditors Interest (%) 8.3 6.4 6.6 5.6 6.6 5.2 5.3 6.8 Maturity (years) 14.1 9.6 13.0 10.5 15.8 15.9 12.9 11.1 Grace period (years) 3.5 4.4 4.5 8.2 11.4 11.5 8.6 8.6 5. Major economic aggregates Gross national income (GNI) 658,701 1,284,276 1,680,203 3,036,877 3,663,806 4,647,614 5,874,893 6,234,784 Exports of goods, services & income 176,389 416,035 636,015 1,379,877 1,705,209 2,108,858 2,451,581 2,114,647 Worker remit. & comp. of employees 3,084 8,918 15,799 50,293 57,433 71,066 85,456 84,949 Imports of goods, services & income 182,910 452,272 606,336 1,249,941 1,458,037 1,745,763 2,066,863 1,796,936 Profit remittances on FDI 5,159 15,893 31,679 47,095 55,744 72,985 79,889 70,430 International reserves 71,348 167,801 283,042 1,020,250 1,315,338 1,856,343 2,288,782 2,823,603 6. Ratios External debt stocks to exports (%) 132.6 109.5 78.1 44.5 38.0 34.5 30.9 39.0 External debt stocks to GNI (%) 35.5 35.5 29.6 20.2 17.7 15.6 12.9 13.2 Debt service to exports (%) 17.7 12.7 11.5 6.3 5.5 4.8 3.9 4.8 Short-term to external debt stocks (%) 16.0 23.9 12.4 32.1 34.3 38.2 35.3 39.0 Multilateral to external debt stocks (%) 14.9 11.8 13.2 10.5 10.2 9.6 9.7 9.8 Reserves to external debt stocks (%) 30.5 36.8 57.0 166.0 202.8 255.4 302.4 342.0 Reserves to imports (months) 4.7 4.5 5.6 9.8 10.8 12.8 13.3 18.9 38 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 194,526 345,382 418,614 408,562 425,941 448,695 489,681 502,950 Public and publicly guaranteed 172,986 255,399 271,459 262,047 261,218 260,896 278,116 293,956 Official creditors 104,752 159,595 171,450 172,244 173,497 178,076 193,977 201,554 Multilateral 34,976 53,607 65,756 64,368 66,424 69,641 73,617 80,654 of which: IBRD 20,176 27,912 30,476 23,331 22,550 21,693 22,275 23,332 IDA 5,130 9,692 12,520 16,498 17,683 19,086 19,683 20,921 Bilateral 69,775 105,988 105,694 107,876 107,073 108,435 120,360 120,900 Private creditors 68,234 95,804 100,009 89,803 87,721 82,820 84,140 92,401 of which: Bonds 11,814 23,690 35,943 52,450 54,997 55,418 55,396 60,029 Commercial banks 35,221 39,894 33,257 17,675 14,755 12,881 15,442 16,677 Private nonguaranteed 21,541 89,982 147,155 146,515 164,723 187,799 211,565 208,994 of which: Bonds 160 15,574 22,077 24,435 25,472 22,968 21,711 22,840 Disbursements 29,431 58,906 39,935 74,963 76,940 90,725 88,543 85,229 Public and publicly guaranteed 19,604 38,009 26,489 25,251 25,699 19,100 22,777 37,411 Official creditors 10,138 17,653 15,619 9,056 11,687 11,213 12,652 16,346 Multilateral 4,711 6,129 6,943 5,145 5,930 6,715 7,775 10,068 of which: IBRD 2,532 3,168 3,245 1,825 2,012 2,347 3,200 3,710 IDA 604 934 700 627 754 1,058 1,152 1,550 Bilateral 5,427 11,524 8,676 3,911 5,757 4,498 4,877 6,278 Private creditors 9,466 20,356 10,870 16,195 14,011 7,887 10,126 21,065 of which: Bonds 852 4,449 4,539 11,523 8,906 4,295 5,180 13,903 Commercial banks 4,097 8,785 2,535 3,034 1,912 1,207 3,413 3,541 Private nonguaranteed 9,827 20,897 13,446 49,711 51,241 71,625 65,766 47,817 of which: Bonds 120 5,731 1,106 4,981 3,444 1,701 368 2,733 Principal repayments 17,359 31,850 47,568 67,260 63,005 76,027 73,455 82,465 Public and publicly guaranteed 14,808 21,665 23,361 24,427 25,140 22,886 23,089 24,821 Official creditors 4,266 8,357 10,243 10,678 12,511 15,007 13,742 12,749 Multilateral 2,032 3,094 4,062 4,609 4,676 4,969 4,781 4,588 of which: IBRD 1,462 2,152 2,006 2,798 2,891 3,336 2,775 2,583 IDA 19 50 107 286 324 368 413 450 Bilateral 2,234 5,262 6,182 6,068 7,835 10,038 8,961 8,160 Private creditors 10,542 13,308 13,117 13,750 12,629 7,879 9,347 12,073 of which: Bonds 1,925 1,854 1,211 4,327 5,441 2,591 3,831 5,323 Commercial banks 5,395 5,320 7,160 5,471 2,684 2,606 1,675 2,629 Private nonguaranteed 2,551 10,185 24,208 42,833 37,865 53,141 50,366 57,644 of which: Bonds 0 120 5,168 2,115 3,022 2,719 1,533 2,929 Interest payments 10,147 15,539 20,377 12,859 14,257 17,461 16,859 15,345 Public and publicly guaranteed 8,864 12,046 12,838 8,647 9,275 10,588 10,117 9,431 Official creditors 3,673 6,283 7,238 4,043 4,468 5,103 4,664 3,946 Multilateral 2,146 3,051 3,833 2,018 2,245 2,492 2,282 1,726 of which: IBRD 1,521 1,999 2,146 1,028 1,168 1,298 1,085 734 IDA 34 69 87 133 131 134 146 139 Bilateral 1,527 3,232 3,404 2,025 2,223 2,611 2,382 2,220 Private creditors 5,191 5,763 5,600 4,605 4,807 5,486 5,453 5,485 of which: Bonds 923 1,238 2,300 3,232 3,673 3,968 4,027 4,392 Commercial banks 2,795 2,462 1,921 845 609 717 595 547 Private nonguaranteed 1,283 3,493 7,539 4,211 4,982 6,873 6,743 5,914 of which: Bonds 2 503 1,942 1,293 1,486 1,495 1,239 1,154 8. Debt stock-flow reconciliation Total change in external debt stocks 30,296 71,933 -42,308 31,629 34,081 78,234 29,816 .. 250 Non-debt flows (bill US$) Net flows on external debt 18,630 54,088 400 -17,219 40,937 Debt 30,560 ratios (%) 70,037 3,888 0 Cross-currency valuation 10,348 -1,772 -13,909 -15,831 3,693 7,558 13,993 .. 350 Debt 9. 200 restructurings Total amount rescheduled 1,478 314 2,468 300 2,809 3 1 0 .. Total amount forgiven 0 44 5 4 35 6 1 .. Debt buyback 721 0 250 0 0 0 0 0 .. 150 200 100 150 100 50 50 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 39 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 138,266 246,178 362,885 585,408 718,457 994,142 1,125,784 1,126,252 Long-term external debt 113,697 199,300 284,480 457,536 563,424 767,475 908,435 925,764 Public and publicly guaranteed 108,777 189,044 217,438 209,647 203,943 256,174 256,620 269,524 Private nonguaranteed 4,921 10,256 67,041 247,889 359,481 511,301 651,815 656,239 Use of IMF credit 467 15,628 21,739 18,810 13,088 8,550 14,334 35,103 Short-term external debt 24,102 31,250 56,666 109,061 141,945 218,117 203,015 165,385 interest arrears on long-term 4,726 7,818 8,508 4,098 1,542 1,587 1,770 1,873 Memorandum items Principal arrears on long-term 654 28,017 14,077 3,545 2,020 2,136 2,938 4,864 Long-term public sector debt 108,020 188,556 216,905 208,991 203,318 255,248 255,183 267,884 Long-term private sector debt 5,677 10,745 67,574 248,545 360,106 512,227 653,252 657,880 Public & publicly guaranteed commitments 23,415 14,532 21,424 30,684 34,021 68,324 47,723 45,521 External debt flows Disbursements 24,038 22,954 40,993 146,709 182,702 292,415 295,762 221,533 Long-term external debt 23,949 14,930 36,624 143,919 179,621 291,170 287,116 200,414 IMF purchases 89 8,024 4,369 2,789 3,081 1,245 8,646 21,119 Principal repayments 15,851 12,755 30,964 95,096 104,530 117,931 163,403 184,036 Long-term external debt 15,449 12,106 26,057 82,512 95,640 111,651 160,915 183,102 IMF repurchases 402 649 4,907 12,585 8,889 6,280 2,488 935 Net flows 1,507 14,141 18,626 69,969 113,613 250,206 117,074 -236 Long-term external debt 8,500 2,824 10,568 61,408 83,981 179,520 126,201 17,313 Short-term external debt -6,680 3,943 8,597 18,357 35,440 75,721 -15,285 -37,733 Interest payments 9,492 9,231 16,484 25,674 32,949 42,742 52,178 45,706 Long-term external debt 7,536 7,575 12,610 20,330 26,218 34,283 45,768 41,039 IMF charges 70 549 1,062 1,125 905 623 429 437 Short-term external debt 1,885 1,108 2,812 4,219 5,826 7,836 5,981 4,230 2. Other non-debt resource inflows Foreign direct investment 688 5,599 9,386 51,115 92,297 133,195 160,127 85,053 Portfolio equity 89 248 993 6,667 12,279 27,006 -15,104 4,990 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 20.9 22.6 21.4 22.0 25.7 Japanese yen 6.4 8.2 5.2 3.3 3.4 2.9 3.6 3.5 Pound sterling 1.4 0.8 0.3 0.2 0.1 0.1 0.0 0.0 Swiss franc 5.8 2.7 0.3 0.5 1.1 1.0 1.1 0.5 U.S.dollars 35.0 47.6 64.2 71.0 68.7 71.7 70.7 67.8 4. Average terms of new commitments Official creditors Interest (%) 7.8 5.7 5.7 2.7 3.9 4.3 4.2 2.4 Maturity (years) 13.2 17.0 17.7 23.0 18.5 18.4 19.7 18.6 Grace period (years) 6.2 5.4 5.3 6.4 5.9 6.1 7.0 5.9 Private creditors Interest (%) 8.5 6.5 8.7 5.4 5.9 5.9 5.8 6.2 Maturity (years) 11.9 6.2 10.2 8.0 7.6 7.4 7.7 6.4 Grace period (years) 6.6 2.6 7.5 5.9 6.1 5.2 5.5 5.9 5. Major economic aggregates Gross national income (GNI) 935,756 753,413 686,230 1,645,761 2,007,226 2,595,979 3,205,318 2,519,190 Exports of goods, services & income 0 201,494 258,838 614,130 760,788 943,336 1,229,612 854,438 Worker remit. & comp. of employees 3,246 6,482 10,357 23,262 28,397 39,332 45,824 35,421 Imports of goods, services & income 0 221,617 245,288 608,477 777,586 1,026,817 1,304,038 899,745 Profit remittances on FDI 161 622 2,973 32,310 55,003 76,773 101,557 64,454 International reserves 0 42,638 67,171 311,761 483,365 709,471 651,631 677,650 6. Ratios External debt stocks to exports (%) 0.0 122.2 140.2 95.3 94.4 105.4 91.6 131.8 External debt stocks to GNI (%) 14.8 32.7 52.9 35.6 35.8 38.3 35.1 44.7 Debt service to exports (%) 0.0 10.9 18.3 19.7 18.1 17.0 17.5 26.9 Short-term to external debt stocks (%) 17.4 12.7 15.6 18.6 19.8 21.9 18.0 14.7 Multilateral to external debt stocks (%) 9.6 7.6 8.0 6.5 5.6 4.6 4.3 5.2 Reserves to external debt stocks (%) 0.0 17.3 18.5 53.3 67.3 71.4 57.9 60.2 Reserves to imports (months) 0.0 2.3 3.3 6.1 7.5 8.3 6.0 9.0 40 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 113,697 199,300 284,480 457,536 563,424 767,475 908,435 925,764 Public and publicly guaranteed 108,777 189,044 217,438 209,647 203,943 256,174 256,620 269,524 Official creditors 32,723 98,526 114,512 86,083 64,690 70,822 76,180 89,155 Multilateral 13,315 18,706 28,954 37,864 40,527 45,749 48,593 59,033 of which: IBRD 8,704 10,853 18,825 21,682 22,113 22,602 23,010 25,479 IDA 157 669 2,667 5,548 6,188 6,862 7,160 7,631 Bilateral 19,408 79,820 85,559 48,219 24,162 25,073 27,587 30,122 Private creditors 76,054 90,518 102,926 123,565 139,253 185,353 180,440 180,370 of which: Bonds 7,195 21,373 68,437 78,939 89,819 114,226 120,017 126,853 Commercial banks 43,653 35,523 24,675 39,486 44,970 67,762 57,631 51,037 Private nonguaranteed 4,921 10,256 67,041 247,889 359,481 511,301 651,815 656,239 of which: Bonds 16 149 3,333 46,324 70,578 107,748 115,663 108,489 Disbursements 23,949 14,930 36,624 143,919 179,621 291,170 287,116 200,414 Public and publicly guaranteed 22,188 12,726 21,115 26,141 30,635 65,808 40,380 39,215 Official creditors 5,584 5,298 6,840 5,182 6,035 8,625 11,159 17,899 Multilateral 1,580 3,395 4,293 4,242 4,882 5,770 7,367 13,418 of which: IBRD 896 2,157 2,592 1,814 2,477 2,153 2,825 4,672 IDA 0 370 351 420 412 468 423 509 Bilateral 4,003 1,904 2,547 940 1,153 2,854 3,791 4,481 Private creditors 16,604 7,427 14,275 20,959 24,599 57,184 29,221 21,316 of which: Bonds 1,019 2,376 7,907 7,787 14,085 27,649 17,901 15,267 Commercial banks 2,567 1,579 5,290 12,952 10,382 29,372 11,166 5,879 Private nonguaranteed 1,761 2,205 15,509 117,779 148,987 225,362 246,736 161,200 of which: Bonds 0 0 566 21,494 25,316 42,353 16,253 3,258 Principal repayments 15,449 12,106 26,057 82,512 95,640 111,651 160,915 183,102 Public and publicly guaranteed 13,952 10,933 12,673 38,986 43,564 23,020 36,825 27,965 Official creditors 2,787 3,648 5,738 23,814 30,937 6,636 6,265 5,854 Multilateral 1,276 1,984 2,224 3,978 3,750 3,806 4,002 3,851 of which: IBRD 1,026 901 952 2,868 2,635 2,389 2,448 2,314 IDA 4 6 6 23 38 56 75 92 Bilateral 1,511 1,665 3,514 19,836 27,187 2,830 2,263 2,003 Private creditors 11,165 7,285 6,935 15,172 12,627 16,384 30,560 22,111 of which: Bonds 47 2,765 2,241 10,660 5,614 7,283 10,308 9,620 Commercial banks 6,422 1,829 2,424 3,000 6,040 7,905 19,509 11,959 Private nonguaranteed 1,497 1,172 13,384 43,526 52,076 88,631 124,090 155,136 of which: Bonds 0 0 900 1,982 1,524 6,794 7,607 10,558 Interest payments 7,536 7,575 12,610 20,330 26,218 34,283 45,768 41,039 Public and publicly guaranteed 7,095 7,200 9,010 12,278 12,541 13,005 14,691 13,075 Official creditors 1,894 3,083 2,971 4,033 3,523 2,619 2,649 2,240 Multilateral 966 1,018 1,537 1,433 1,573 1,884 1,889 1,592 of which: IBRD 703 588 1,068 866 1,066 1,212 1,079 843 IDA 1 3 19 45 47 50 54 53 Bilateral 928 2,065 1,434 2,600 1,950 734 759 648 Private creditors 5,201 4,117 6,038 8,246 9,018 10,386 12,042 10,835 of which: Bonds 494 1,616 4,277 6,422 6,431 7,500 8,688 8,765 Commercial banks 3,430 1,402 1,247 1,530 2,337 2,667 3,171 1,929 Private nonguaranteed 441 375 3,601 8,051 13,677 21,278 31,077 27,965 of which: Bonds 1 13 310 2,727 4,528 6,996 7,885 8,053 8. Debt stock-flow reconciliation Total change in external debt stocks 12,395 13,906 9,075 64,986 133,049 275,686 131,642 .. 200 Non-debt flows (bill US$) Net flows on external debt 1,507 14,141 200 18,626 69,969 Debt 113,613 ratios250,206 (%) 117,074 0 Cross-currency valuation 5,885 4,359 -6,983 -13,012 6,370 7,931 -1,403 .. 175 9. Debt restructurings Total amount rescheduled 150 0 10,047 29,177 150 596 1,357 39 54 .. Total amount forgiven 0 0 12 109 105 26 42 .. Debt buyback 125 882 30 0 0 0 0 127 .. 100 100 75 50 50 25 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 41 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 441,198 608,666 751,080 740,598 736,620 835,365 890,515 912,980 Long-term external debt 349,923 459,179 631,268 624,393 635,470 699,415 749,904 773,100 Public and publicly guaranteed 325,178 371,875 389,547 410,589 394,105 406,740 420,086 432,115 Private nonguaranteed 24,745 87,303 241,722 213,804 241,365 292,675 329,817 340,984 Use of IMF credit 17,968 26,632 8,846 13,122 737 804 824 1,243 Short-term external debt 73,307 122,856 110,966 103,084 100,414 135,147 139,787 138,637 interest arrears on long-term 25,542 10,303 1,674 8,900 8,320 10,367 10,940 11,598 Memorandum items Principal arrears on long-term 24,264 15,834 3,510 12,361 13,148 16,976 19,261 20,443 Long-term public sector debt 321,813 369,910 386,607 408,195 391,890 404,542 417,502 428,553 Long-term private sector debt 28,110 89,269 244,661 216,198 243,580 294,873 332,402 344,547 Public & publicly guaranteed commitments 25,845 49,943 66,082 55,252 50,587 53,069 61,868 82,039 External debt flows Disbursements 32,291 89,784 119,852 107,092 135,421 152,589 164,602 157,299 Long-term external debt 27,558 74,013 116,343 106,500 134,857 152,340 164,388 156,849 IMF purchases 4,733 15,772 3,510 593 564 249 213 450 Principal repayments 21,790 43,123 124,162 122,010 150,113 106,039 109,691 103,963 Long-term external debt 18,138 40,290 109,925 93,838 137,430 105,819 109,518 103,910 IMF repurchases 3,651 2,832 14,237 28,172 12,683 220 173 53 Net flows 18,134 61,054 -5,226 814 -16,782 79,237 58,978 51,528 Long-term external debt 9,420 33,722 6,418 12,661 -2,573 46,521 54,870 52,940 Short-term external debt 7,633 14,392 -917 15,732 -2,090 32,687 4,067 -1,808 Interest payments 21,711 35,904 54,789 40,395 45,720 47,406 45,914 42,733 Long-term external debt 17,915 28,411 47,273 34,336 40,672 41,711 41,963 39,903 IMF charges 1,435 1,100 777 1,732 330 35 26 9 Short-term external debt 2,362 6,393 6,739 4,327 4,718 5,660 3,925 2,820 2. Other non-debt resource inflows Foreign direct investment 8,121 30,202 79,040 72,223 71,954 109,405 127,864 73,622 Portfolio equity 2,464 5,216 -561 12,209 11,047 28,837 -9,688 41,584 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.5 10.7 11.3 10.1 11.1 Japanese yen 6.2 8.2 6.6 3.4 3.0 2.7 3.2 4.0 Pound sterling 1.6 1.1 0.6 0.2 0.3 0.2 0.1 0.4 Swiss franc 1.0 0.6 0.3 0.2 0.1 0.1 0.1 0.2 U.S.dollars 59.6 62.1 73.4 82.0 81.7 82.3 83.7 82.2 4. Average terms of new commitments Official creditors Interest (%) 7.0 7.6 5.9 4.4 5.4 5.2 3.6 2.1 Maturity (years) 18.1 14.2 12.5 18.8 18.9 18.2 20.6 18.8 Grace period (years) 4.9 4.1 2.8 4.9 5.4 5.0 5.3 6.3 Private creditors Interest (%) 9.1 6.8 9.4 7.3 6.2 7.2 6.5 6.1 Maturity (years) 11.0 4.1 12.6 14.5 14.8 16.5 15.9 11.8 Grace period (years) 5.2 2.9 11.6 12.0 12.6 12.8 11.3 11.0 5. Major economic aggregates Gross national income (GNI) 1,049,965 1,698,189 1,961,805 2,559,479 3,008,168 3,555,152 4,145,756 3,851,824 Exports of goods, services & income 177,594 289,620 442,911 667,094 799,235 912,208 1,045,060 819,368 Worker remit. & comp. of employees 5,681 13,318 20,164 50,119 59,197 63,117 64,620 56,879 Imports of goods, services & income 189,189 343,893 512,722 685,910 818,367 968,137 1,145,725 891,518 Profit remittances on FDI 7,323 14,909 22,787 53,318 76,781 90,221 94,413 75,275 International reserves 58,057 138,616 158,413 257,309 312,791 450,589 500,720 552,745 6. Ratios External debt stocks to exports (%) 248.4 210.2 169.6 111.0 92.2 91.6 85.2 111.4 External debt stocks to GNI (%) 42.0 35.8 38.3 28.9 24.5 23.5 21.5 23.7 Debt service to exports (%) 24.5 27.3 40.4 24.3 24.9 16.8 14.9 17.9 Short-term to external debt stocks (%) 16.6 20.2 14.8 13.9 13.6 16.2 15.7 15.2 Multilateral to external debt stocks (%) 13.5 11.9 12.3 13.9 13.0 11.4 11.4 12.6 Reserves to external debt stocks (%) 13.2 22.8 21.1 34.7 42.5 53.9 56.2 60.5 Reserves to imports (months) 3.7 4.8 3.7 4.5 4.6 5.6 5.2 7.4 42 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 349,923 459,179 631,268 624,393 635,470 699,415 749,904 773,100 Public and publicly guaranteed 325,178 371,875 389,547 410,589 394,105 406,740 420,086 432,115 Official creditors 120,583 159,015 139,647 134,169 123,761 121,313 130,560 149,077 Multilateral 59,684 72,134 92,649 103,241 95,868 95,345 101,348 115,208 of which: IBRD 34,683 36,299 37,429 34,958 31,528 31,534 33,857 40,439 IDA 1,117 2,186 3,387 5,049 1,529 1,692 1,778 1,468 Bilateral 60,899 86,881 46,998 30,928 27,893 25,968 29,212 33,869 Private creditors 204,595 212,860 249,899 276,420 270,344 285,427 289,527 283,039 of which: Bonds 75,572 165,105 210,023 233,541 227,616 237,985 243,525 242,880 Commercial banks 100,991 34,360 31,416 38,493 39,590 43,348 42,632 35,991 Private nonguaranteed 24,745 87,303 241,722 213,804 241,365 292,675 329,817 340,984 of which: Bonds 171 33,829 60,325 74,487 80,608 96,010 80,983 101,621 Disbursements 27,558 74,013 116,343 106,500 134,857 152,340 164,388 156,849 Public and publicly guaranteed 22,860 46,483 58,440 54,835 49,411 45,711 63,373 69,607 Official creditors 13,106 23,663 16,174 12,889 16,741 14,755 19,325 32,271 Multilateral 8,925 9,893 13,297 10,531 14,677 13,052 15,750 25,614 of which: IBRD 6,114 4,624 5,595 3,550 5,570 3,067 5,679 10,790 IDA 119 277 202 306 178 129 114 157 Bilateral 4,182 13,771 2,877 2,359 2,064 1,703 3,574 6,656 Private creditors 9,754 22,819 42,266 41,946 32,669 30,956 44,049 37,337 of which: Bonds 1,938 13,654 35,022 35,298 24,854 24,473 36,092 32,530 Commercial banks 4,746 7,427 6,499 6,151 7,218 6,149 7,798 4,141 Private nonguaranteed 4,698 27,530 57,903 51,664 85,447 106,629 101,015 87,242 of which: Bonds 171 7,412 8,312 15,066 19,459 26,341 8,440 27,821 Principal repayments 18,138 40,290 109,925 93,838 137,430 105,819 109,518 103,910 Public and publicly guaranteed 15,967 27,594 51,901 43,905 78,881 47,718 47,503 37,286 Official creditors 6,423 14,493 16,787 16,653 24,546 15,853 12,868 13,449 Multilateral 4,728 8,309 9,787 10,922 19,236 10,815 10,494 9,768 of which: IBRD 3,297 4,974 3,798 4,561 9,143 3,311 3,407 4,301 IDA 9 21 18 39 29 14 24 20 Bilateral 1,696 6,184 7,000 5,730 5,310 5,038 2,374 3,681 Private creditors 9,544 13,101 35,114 27,252 54,334 31,865 34,635 23,837 of which: Bonds 1,912 5,833 26,575 19,194 43,064 24,603 27,882 13,926 Commercial banks 5,100 4,240 6,934 7,273 10,117 6,482 6,122 8,723 Private nonguaranteed 2,171 12,696 58,024 49,933 58,549 58,100 62,015 66,624 of which: Bonds 0 3,922 8,849 10,583 13,165 12,763 9,126 6,135 Interest payments 17,915 28,411 47,273 34,336 40,672 41,711 41,963 39,903 Public and publicly guaranteed 15,680 22,582 29,249 24,175 24,655 25,351 23,775 22,157 Official creditors 5,433 8,830 8,531 5,589 5,992 5,995 5,462 5,035 Multilateral 4,107 4,850 6,323 4,451 4,984 5,020 4,658 4,089 of which: IBRD 2,533 2,651 2,801 1,507 1,813 1,781 1,545 1,302 IDA 8 23 17 37 23 12 14 12 Bilateral 1,326 3,981 2,208 1,137 1,007 976 804 946 Private creditors 10,247 13,751 20,717 18,586 18,663 19,356 18,313 17,122 of which: Bonds 2,365 11,254 17,194 16,756 16,552 17,342 16,425 15,076 Commercial banks 6,628 1,568 2,715 1,630 1,935 1,709 1,631 1,748 Private nonguaranteed 2,235 5,829 18,024 10,161 16,018 16,359 18,188 17,746 of which: Bonds 0 2,597 5,185 4,487 7,481 7,095 6,226 6,334 8. Debt stock-flow reconciliation Total change in external debt stocks 19,420 63,262 -15,300 -66,610 -3,978 98,745 55,150 .. 150 Non-debt flows (bill US$) Net flows on external debt 18,134 61,054 200 -5,226 814 Debt -16,782 ratios (%) 79,237 58,978 0 Cross-currency valuation 11,380 1,918 -9,902 -14,331 2,202 8,361 -118 .. Debt 9. 125 restructurings Total amount rescheduled 63,474 7,922 5,236 150 25,998 2,336 1,135 352 .. Total amount forgiven 100 173 534 116 866 351 1,223 218 .. Debt buyback 2,756 102 15,851 736 5,450 2,712 1,406 .. 75 100 50 50 25 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 43 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 136,835 161,737 139,240 145,466 136,977 148,337 137,937 141,321 Long-term external debt 115,594 141,185 116,552 122,671 115,075 123,047 116,911 118,719 Public and publicly guaranteed 114,176 140,298 112,582 115,909 108,458 116,424 110,254 112,569 Private nonguaranteed 1,418 887 3,970 6,762 6,616 6,623 6,657 6,150 Use of IMF credit 1,815 2,177 2,542 547 423 353 258 200 Short-term external debt 19,427 18,375 20,145 22,247 21,479 24,937 20,768 22,402 interest arrears on long-term 2,994 2,673 2,629 298 308 256 259 328 Memorandum items Principal arrears on long-term 8,303 8,720 9,977 510 482 442 419 418 Long-term public sector debt 114,010 139,870 112,216 115,261 107,708 115,381 109,301 111,685 Long-term private sector debt 1,583 1,315 4,336 7,410 7,367 7,665 7,610 7,034 Public & publicly guaranteed commitments 15,023 12,036 10,205 13,471 12,011 10,740 8,575 10,874 External debt flows Disbursements 13,189 11,547 9,247 14,791 11,917 14,799 11,891 13,543 Long-term external debt 13,124 10,958 9,223 14,791 11,917 14,721 11,845 13,541 IMF purchases 65 590 24 0 0 78 46 2 Principal repayments 12,070 11,418 10,936 14,875 24,885 14,379 16,307 12,925 Long-term external debt 11,674 11,029 10,698 14,130 24,734 14,213 16,172 12,862 IMF repurchases 397 390 238 745 150 166 135 64 Net flows 2,755 3,702 -3,016 177 -13,745 3,929 -8,587 2,182 Long-term external debt 1,450 -71 -1,475 661 -12,818 508 -4,327 679 Short-term external debt 1,636 3,573 -1,327 261 -777 3,509 -4,171 1,564 Interest payments 5,767 7,393 5,867 6,010 5,971 5,843 5,406 4,897 Long-term external debt 4,395 6,311 4,888 4,795 4,785 4,743 4,782 4,297 IMF charges 180 112 130 32 14 12 7 3 Short-term external debt 1,192 970 849 1,184 1,172 1,088 617 597 2. Other non-debt resource inflows Foreign direct investment 561 871 3,878 16,763 27,228 27,601 29,295 24,350 Portfolio equity 5 32 252 2,410 963 -2,096 422 1,228 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 30.7 33.0 35.4 33.7 34.3 Japanese yen 7.3 9.8 11.1 9.3 8.7 8.3 10.4 9.7 Pound sterling 1.6 1.1 0.8 1.5 1.5 1.4 0.5 0.5 Swiss franc 1.2 1.0 1.1 1.4 1.4 1.2 1.1 1.2 U.S.dollars 44.2 42.2 49.5 43.3 41.3 38.9 38.5 37.8 4. Average terms of new commitments Official creditors Interest (%) 5.5 5.3 4.5 3.7 3.6 3.4 3.4 2.2 Maturity (years) 21.6 18.2 19.7 19.1 22.1 19.9 20.4 21.6 Grace period (years) 6.3 5.1 5.6 5.2 6.9 5.9 5.3 5.7 Private creditors Interest (%) 8.9 7.0 7.1 5.6 6.8 5.9 8.6 7.7 Maturity (years) 7.5 9.5 8.0 8.0 10.9 8.4 5.8 7.2 Grace period (years) 2.3 3.7 4.5 6.1 7.8 6.2 5.6 6.5 5. Major economic aggregates Gross national income (GNI) 221,824 273,070 362,858 539,603 623,450 761,228 926,486 919,356 Exports of goods, services & income 74,128 89,138 117,615 242,724 284,886 342,976 407,058 377,359 Worker remit. & comp. of employees 11,393 12,693 12,042 23,647 25,125 31,041 34,699 32,291 Imports of goods, services & income 84,443 91,459 105,104 175,820 196,692 249,937 326,047 276,161 Profit remittances on FDI 614 941 1,721 5,200 5,377 5,974 7,258 5,261 International reserves 15,859 38,387 49,482 148,207 186,054 234,053 277,486 301,670 6. Ratios External debt stocks to exports (%) 184.6 181.4 118.4 59.9 48.1 43.2 33.9 37.4 External debt stocks to GNI (%) 61.7 59.2 38.4 27.0 22.0 19.5 14.9 15.4 Debt service to exports (%) 24.1 21.1 14.3 8.6 10.8 5.9 5.3 4.7 Short-term to external debt stocks (%) 14.2 11.4 14.5 15.3 15.7 16.8 15.1 15.9 Multilateral to external debt stocks (%) 11.3 14.1 16.6 17.8 18.8 20.7 22.5 24.5 Reserves to external debt stocks (%) 11.6 23.7 35.5 101.9 135.8 157.8 201.2 213.5 Reserves to imports (months) 2.3 5.0 5.6 10.1 11.4 11.2 10.2 13.1 44 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 115,594 141,185 116,552 122,671 115,075 123,047 116,911 118,719 Public and publicly guaranteed 114,176 140,298 112,582 115,909 108,458 116,424 110,254 112,569 Official creditors 70,682 105,109 88,170 77,511 70,323 76,694 74,398 77,769 Multilateral 15,414 22,871 23,105 25,916 25,807 30,673 30,983 34,673 of which: IBRD 8,249 10,646 7,664 6,757 6,144 7,447 7,123 8,016 IDA 1,774 2,105 2,685 3,344 3,616 3,795 3,802 3,831 Bilateral 55,268 82,237 65,065 51,594 44,516 46,021 43,415 43,096 Private creditors 43,494 35,189 24,412 38,399 38,135 39,730 35,855 34,800 of which: Bonds 1,683 2,036 7,375 22,142 23,179 24,579 23,907 23,946 Commercial banks 13,623 10,340 8,412 8,718 8,082 8,966 7,640 7,378 Private nonguaranteed 1,418 887 3,970 6,762 6,616 6,623 6,657 6,150 of which: Bonds 0 50 836 1,011 805 530 470 670 Disbursements 13,124 10,958 9,223 14,791 11,917 14,721 11,845 13,541 Public and publicly guaranteed 13,035 10,775 7,943 12,871 10,720 12,966 9,737 11,946 Official creditors 5,681 5,986 3,413 5,415 5,082 7,051 6,276 7,993 Multilateral 2,353 3,503 1,947 3,832 3,457 5,575 3,709 5,680 of which: IBRD 1,154 1,455 532 895 739 1,723 684 1,625 IDA 37 128 118 202 225 145 126 110 Bilateral 3,328 2,483 1,465 1,583 1,625 1,477 2,567 2,313 Private creditors 7,354 4,790 4,530 7,455 5,637 5,915 3,461 3,953 of which: Bonds 0 888 2,031 4,144 3,799 3,635 2,257 2,894 Commercial banks 732 874 1,092 2,265 1,447 2,077 1,029 998 Private nonguaranteed 89 183 1,281 1,920 1,197 1,755 2,108 1,595 of which: Bonds 0 50 115 530 0 0 0 200 Principal repayments 11,674 11,029 10,698 14,130 24,734 14,213 16,172 12,862 Public and publicly guaranteed 11,497 10,902 10,461 13,321 23,079 11,802 14,189 10,632 Official creditors 4,203 7,349 5,914 7,685 16,160 5,881 7,944 5,655 Multilateral 1,268 2,021 2,014 3,404 4,765 2,640 2,615 2,346 of which: IBRD 745 1,109 869 1,030 1,673 771 986 731 IDA 14 28 45 76 82 90 98 103 Bilateral 2,935 5,328 3,900 4,281 11,396 3,241 5,329 3,310 Private creditors 7,293 3,553 4,547 5,635 6,918 5,922 6,245 4,977 of which: Bonds 76 278 896 1,883 2,810 2,620 3,021 2,621 Commercial banks 1,586 629 1,425 1,764 2,471 1,923 1,723 1,347 Private nonguaranteed 177 127 237 809 1,656 2,411 1,983 2,230 of which: Bonds 0 0 50 265 206 275 60 0 Interest payments 4,395 6,311 4,888 4,795 4,785 4,743 4,782 4,297 Public and publicly guaranteed 4,290 6,278 4,734 4,505 4,481 4,470 4,522 4,036 Official creditors 2,058 4,258 3,127 2,491 2,266 2,139 2,233 2,025 Multilateral 852 1,361 1,305 1,014 1,031 1,088 1,199 1,075 of which: IBRD 593 748 602 308 296 329 352 260 IDA 12 15 20 28 27 28 30 28 Bilateral 1,207 2,897 1,822 1,477 1,235 1,051 1,034 950 Private creditors 2,232 2,020 1,607 2,014 2,215 2,330 2,289 2,011 of which: Bonds 124 88 458 1,366 1,499 1,591 1,623 1,603 Commercial banks 720 617 569 320 399 430 401 267 Private nonguaranteed 104 33 154 290 304 274 260 262 of which: Bonds 0 0 69 90 74 57 40 43 8. Debt stock-flow reconciliation Total change in external debt stocks -3,464 7,034 -9,756 -21,299 -8,489 11,360 -10,400 .. 40 Non-debt flows (bill US$) Net flows on external debt 2,755 3,702 250 -3,016 177 Debt -13,745 ratios (%) 3,929 -8,587 0 Cross-currency valuation 5,288 2,160 -4,067 -7,835 4,352 6,120 -1,166 .. 9. Debt restructurings 200 Total amount rescheduled 30 4,565 8,947 908 1,936 208 238 58 .. Total amount forgiven 10,614 357 179 10,453 123 40 65 .. Debt buyback 0 0 85 150 0 0 0 2,038 .. 20 100 10 50 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 45 SOUTH ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 126,331 152,282 161,045 188,169 232,047 286,330 318,864 339,983 Long-term external debt 109,312 137,937 153,068 174,110 201,149 242,464 264,016 282,407 Public and publicly guaranteed 107,585 129,636 134,554 116,079 126,388 143,651 154,174 159,965 Private nonguaranteed 1,727 8,301 18,514 58,031 74,761 98,813 109,843 122,442 Use of IMF credit 4,686 5,293 1,918 2,208 2,232 2,277 5,374 9,081 Short-term external debt 12,333 9,051 6,059 11,851 28,665 41,589 49,473 48,495 interest arrears on long-term 19 59 120 30 18 36 32 46 Memorandum items Principal arrears on long-term 35 81 276 68 90 150 86 142 Long-term public sector debt 106,814 128,962 133,781 115,907 126,237 143,517 153,980 159,762 Long-term private sector debt 2,498 8,975 19,287 58,203 74,912 98,947 110,037 122,645 Public & publicly guaranteed commitments 13,853 8,435 12,817 9,332 10,948 20,520 12,319 9,551 External debt flows Disbursements 12,000 12,071 14,192 24,681 38,514 71,418 47,917 35,007 Long-term external debt 10,156 11,869 13,998 24,425 38,343 71,330 44,474 31,030 IMF purchases 1,844 202 195 256 171 88 3,443 3,978 Principal repayments 5,219 11,610 9,798 22,032 15,134 35,068 27,301 15,188 Long-term external debt 4,077 9,605 9,315 21,756 14,873 34,911 27,033 14,832 IMF repurchases 1,142 2,006 483 275 261 157 268 356 Net flows 8,331 2,497 3,456 4,933 40,206 49,256 28,504 18,827 Long-term external debt 6,079 2,264 4,683 2,669 23,470 36,419 17,441 16,198 Short-term external debt 1,550 2,037 -938 2,284 16,826 12,906 7,888 -992 Interest payments 6,026 6,524 5,659 5,674 6,355 8,982 9,021 7,100 Long-term external debt 4,577 5,666 5,277 5,202 5,736 6,910 7,288 6,360 IMF charges 247 234 58 26 26 23 23 76 Short-term external debt 1,202 624 323 446 592 2,048 1,710 664 2. Other non-debt resource inflows Foreign direct investment 540 2,931 4,358 11,185 26,037 32,310 48,715 38,311 Portfolio equity 0 1,585 2,518 12,406 10,388 36,093 -15,836 20,538 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.4 7.4 7.1 6.2 6.1 Japanese yen 12.6 17.0 15.3 19.1 18.4 17.2 20.1 18.9 Pound sterling 5.0 3.6 2.8 2.2 1.9 1.5 1.3 1.2 Swiss franc 0.6 0.7 0.3 0.3 0.2 0.2 0.2 0.1 U.S.dollars 53.6 46.0 56.6 54.4 55.6 56.7 54.9 56.0 4. Average terms of new commitments Official creditors Interest (%) 3.7 3.7 5.1 2.0 3.1 3.5 1.7 2.0 Maturity (years) 28.9 25.8 23.4 28.1 26.5 25.8 27.4 24.1 Grace period (years) 8.1 7.7 6.4 8.0 6.3 6.9 7.6 6.9 Private creditors Interest (%) 6.9 5.8 4.4 5.2 6.4 6.6 3.2 6.6 Maturity (years) 14.8 6.0 5.3 5.4 9.3 9.3 8.7 6.3 Grace period (years) 7.1 3.9 4.6 4.4 8.1 4.7 3.8 4.7 5. Major economic aggregates Gross national income (GNI) 400,537 473,560 603,639 1,047,164 1,185,549 1,501,975 1,530,319 1,644,307 Exports of goods, services & income 35,587 61,117 88,739 201,500 248,231 299,599 364,779 325,657 Worker remit. & comp. of employees 5,571 10,005 17,206 33,924 42,523 54,041 71,598 74,850 Imports of goods, services & income 53,492 86,693 116,954 258,918 316,030 383,023 496,278 408,636 Profit remittances on FDI 93 392 721 7,979 11,542 14,851 14,740 3,905 International reserves 8,896 30,704 47,221 156,713 198,414 302,179 275,856 314,494 6. Ratios External debt stocks to exports (%) 355.0 249.2 181.5 93.4 93.5 95.6 87.4 104.4 External debt stocks to GNI (%) 31.5 32.2 26.7 18.0 19.6 19.1 20.8 20.7 Debt service to exports (%) 31.6 29.7 17.4 13.7 8.7 14.7 10.0 6.8 Short-term to external debt stocks (%) 9.8 5.9 3.8 6.3 12.4 14.5 15.5 14.3 Multilateral to external debt stocks (%) 30.4 37.3 37.9 37.0 32.7 29.1 27.9 27.7 Reserves to external debt stocks (%) 7.0 20.2 29.3 83.3 85.5 105.5 86.5 92.5 Reserves to imports (months) 2.0 4.3 4.8 7.3 7.5 9.5 6.7 9.2 46 SOUTH ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 109,312 137,937 153,068 174,110 201,149 242,464 264,016 282,407 Public and publicly guaranteed 107,585 129,636 134,554 116,079 126,388 143,651 154,174 159,965 Official creditors 82,873 104,110 101,787 109,216 116,210 126,562 136,936 143,409 Multilateral 38,389 56,867 61,051 69,558 75,902 83,233 88,846 94,140 of which: IBRD 9,646 13,035 10,209 7,514 8,151 8,766 9,376 9,817 IDA 21,381 29,001 31,963 42,193 45,803 48,915 49,529 51,440 Bilateral 44,483 47,242 40,736 39,658 40,308 43,330 48,089 49,269 Private creditors 24,712 25,526 32,767 6,862 10,178 17,089 17,238 16,556 of which: Bonds 2,785 3,474 10,928 2,525 4,178 7,879 7,670 8,692 Commercial banks 16,927 14,176 19,662 3,769 5,483 8,704 9,104 7,460 Private nonguaranteed 1,727 8,301 18,514 58,031 74,761 98,813 109,843 122,442 of which: Bonds 0 1,065 1,560 6,461 11,204 16,277 15,682 16,181 Disbursements 10,156 11,869 13,998 24,425 38,343 71,330 44,474 31,030 Public and publicly guaranteed 9,903 9,935 13,411 10,963 13,896 22,140 23,519 13,711 Official creditors 6,855 6,392 6,119 7,368 8,252 9,244 11,008 11,305 Multilateral 4,386 3,972 4,347 5,728 6,235 6,966 7,852 8,054 of which: IBRD 1,576 860 866 1,081 1,134 1,178 1,176 1,215 IDA 1,545 1,374 1,655 2,709 2,452 2,572 2,151 2,932 Bilateral 2,469 2,420 1,772 1,640 2,016 2,278 3,156 3,251 Private creditors 3,049 3,542 7,293 3,595 5,645 12,896 12,511 2,406 of which: Bonds 416 85 5,520 2,314 3,252 8,639 11,507 2,115 Commercial banks 2,071 1,901 942 1,245 2,368 4,246 972 283 Private nonguaranteed 252 1,934 586 13,462 24,447 49,190 20,955 17,319 of which: Bonds 0 520 0 3,520 4,799 7,793 594 2,473 Principal repayments 4,077 9,605 9,315 21,756 14,873 34,911 27,033 14,832 Public and publicly guaranteed 3,718 9,107 8,607 14,497 6,988 11,357 16,278 8,417 Official creditors 2,359 5,763 5,350 4,461 4,643 4,803 5,565 5,403 Multilateral 1,009 2,227 2,827 2,166 2,485 2,516 3,079 3,158 of which: IBRD 553 1,173 1,231 523 543 631 687 707 IDA 151 318 548 949 1,069 1,112 1,223 1,318 Bilateral 1,350 3,537 2,523 2,295 2,158 2,287 2,486 2,245 Private creditors 1,359 3,343 3,257 10,035 2,345 6,554 10,714 3,014 of which: Bonds 279 320 50 8,565 1,597 5,313 9,533 1,088 Commercial banks 369 2,002 2,868 1,282 670 1,199 1,137 1,884 Private nonguaranteed 359 498 707 7,260 7,886 23,554 10,755 6,415 of which: Bonds 0 0 35 117 57 409 880 1,779 Interest payments 4,577 5,666 5,277 5,202 5,736 6,910 7,288 6,360 Public and publicly guaranteed 4,429 5,004 4,396 3,930 2,401 2,714 2,912 2,595 Official creditors 2,166 2,934 2,268 1,894 2,039 2,228 2,286 2,109 Multilateral 1,064 1,640 1,366 899 1,132 1,322 1,328 1,073 of which: IBRD 752 995 613 252 387 470 401 254 IDA 149 215 236 342 343 355 388 370 Bilateral 1,102 1,294 902 995 907 906 958 1,036 Private creditors 2,263 2,070 2,127 2,036 362 486 627 486 of which: Bonds 180 196 210 1,849 154 211 290 259 Commercial banks 1,803 1,317 1,811 171 198 265 327 220 Private nonguaranteed 148 663 881 1,272 3,336 4,196 4,376 3,765 of which: Bonds 0 58 227 151 276 404 345 346 8. Debt stock-flow reconciliation Total change in external debt stocks 14,605 -787 -1,676 -5,568 43,878 54,284 32,533 .. 100 Non-debt flows (bill US$) Net flows on external debt 8,331 2,497 200 3,456 4,933 Debt 40,206 ratios (%) 49,256 28,504 0 Cross-currency valuation 2,928 -4,425 -7,787 -10,517 3,335 4,667 4,373 .. 9. Debt restructurings Total amount rescheduled 75 0 0 918 150 265 95 842 52 .. Total amount forgiven 0 7 9 2 83 166 583 .. Debt buyback 0 0 0 0 0 0 0 .. 50 100 25 50 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 47 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 176,411 235,842 211,158 214,467 170,444 188,889 195,527 198,976 Long-term external debt 149,115 186,684 172,882 177,556 126,028 140,814 143,103 156,260 Public and publicly guaranteed 143,851 174,924 161,534 168,909 116,747 124,380 128,772 138,861 Private nonguaranteed 5,264 11,760 11,348 8,648 9,281 16,434 14,330 17,399 Use of IMF credit 6,606 8,654 6,734 5,947 3,140 3,341 3,963 6,261 Short-term external debt 20,689 40,504 31,542 30,963 41,275 44,734 48,461 36,456 interest arrears on long-term 9,522 20,734 13,570 14,250 15,155 14,565 13,650 11,654 Memorandum items Principal arrears on long-term 17,760 41,062 25,534 24,027 24,659 22,951 21,439 19,911 Long-term public sector debt 143,664 174,798 160,627 168,811 116,711 124,353 128,754 138,842 Long-term private sector debt 5,451 11,886 12,255 8,746 9,318 16,461 14,349 17,418 Public & publicly guaranteed commitments 11,448 9,157 8,356 23,638 12,247 18,155 17,401 26,644 External debt flows Disbursements 10,312 14,004 10,104 16,050 13,144 24,064 14,390 24,688 Long-term external debt 9,652 11,010 9,580 15,727 12,847 23,710 12,977 22,065 IMF purchases 660 2,994 525 323 298 354 1,413 2,623 Principal repayments 5,568 9,419 9,016 12,131 17,102 13,548 8,986 9,605 Long-term external debt 4,620 7,048 8,556 11,384 16,745 13,251 8,299 9,220 IMF repurchases 947 2,371 460 747 357 296 687 385 Net flows 7,001 7,502 -1,797 6,947 5,450 14,565 10,046 5,073 Long-term external debt 5,031 3,963 1,023 4,343 -3,898 10,459 4,678 12,845 Short-term external debt 2,257 2,917 -2,886 3,028 9,407 4,049 4,642 -10,010 Interest payments 5,286 5,337 4,443 7,961 4,302 5,240 5,010 3,981 Long-term external debt 4,348 3,975 3,319 7,322 3,420 4,063 3,596 3,261 IMF charges 238 559 43 27 39 14 494 28 Short-term external debt 701 803 1,081 612 842 1,163 921 692 2. Other non-debt resource inflows Foreign direct investment 1,187 4,258 6,543 17,954 20,155 28,514 34,498 30,266 Portfolio equity 393 2,952 4,164 8,121 16,805 10,147 -5,647 9,966 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 19.8 22.8 21.8 19.4 18.8 Japanese yen 4.1 5.5 4.1 3.6 3.2 2.7 3.8 3.2 Pound sterling 5.5 3.8 2.1 4.2 1.8 1.6 1.1 1.2 Swiss franc 2.3 2.1 1.5 1.9 2.5 2.5 2.6 2.5 U.S.dollars 36.5 40.7 61.4 55.0 51.8 51.9 53.6 53.7 4. Average terms of new commitments Official creditors Interest (%) 3.5 1.8 1.1 4.4 1.5 1.4 1.8 2.6 Maturity (years) 28.4 31.7 36.3 21.4 29.7 31.5 30.5 24.8 Grace period (years) 7.7 8.7 9.1 4.5 7.3 7.9 8.1 6.4 Private creditors Interest (%) 8.1 5.7 5.8 5.6 6.8 6.7 4.0 5.8 Maturity (years) 11.6 12.4 7.7 7.2 11.3 8.3 8.1 8.3 Grace period (years) 2.7 1.9 2.1 1.9 4.9 5.3 1.3 4.1 5. Major economic aggregates Gross national income (GNI) 281,623 310,096 319,713 601,468 705,045 799,087 914,091 867,375 Exports of goods, services & income 78,552 90,831 114,029 241,016 279,380 329,764 398,746 299,420 Worker remit. & comp. of employees 1,785 3,178 4,627 9,400 12,651 18,568 21,345 20,810 Imports of goods, services & income 86,132 111,987 118,497 242,962 290,892 365,193 436,288 346,963 Profit remittances on FDI 2,768 3,952 7,860 17,244 27,734 38,606 43,082 24,479 International reserves 15,362 20,652 36,505 82,407 114,876 141,827 152,687 150,820 6. Ratios External debt stocks to exports (%) 224.6 259.6 185.2 89.0 61.0 57.3 49.0 66.5 External debt stocks to GNI (%) 62.6 76.1 66.0 35.7 24.2 23.6 21.4 22.9 Debt service to exports (%) 13.8 16.2 11.8 8.3 7.7 5.7 3.5 5.9 Short-term to external debt stocks (%) 11.7 17.2 14.9 14.4 24.2 23.7 24.8 18.3 Multilateral to external debt stocks (%) 21.6 23.1 25.8 33.8 25.3 25.3 25.6 27.3 Reserves to external debt stocks (%) 8.7 8.8 17.3 38.4 67.4 75.1 78.1 75.8 Reserves to imports (months) 2.1 2.2 3.7 4.1 4.7 4.7 4.2 5.2 48 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 149,115 186,684 172,882 177,556 126,028 140,814 143,103 156,260 Public and publicly guaranteed 143,851 174,924 161,534 168,909 116,747 124,380 128,772 138,861 Official creditors 108,212 138,361 135,502 135,070 87,566 92,830 95,610 103,096 Multilateral 38,172 54,427 54,566 72,470 43,081 47,877 50,057 54,335 of which: IBRD 9,178 7,641 3,477 2,015 1,799 1,524 994 900 IDA 15,718 27,842 33,574 48,444 24,187 27,325 29,318 31,612 Bilateral 70,041 83,934 80,937 62,600 44,485 44,953 45,553 48,761 Private creditors 35,639 36,563 26,032 33,838 29,181 31,550 33,162 35,764 of which: Bonds 301 4,784 9,150 10,734 9,285 12,078 11,775 13,368 Commercial banks 13,863 12,571 8,443 17,616 15,308 15,614 17,686 17,797 Private nonguaranteed 5,264 11,760 11,348 8,648 9,281 16,434 14,330 17,399 of which: Bonds 0 350 1,360 1,307 1,484 6,890 6,192 6,224 Disbursements 9,652 11,010 9,580 15,727 12,847 23,710 12,977 22,065 Public and publicly guaranteed 9,022 10,263 7,461 12,467 9,658 16,257 11,997 18,301 Official creditors 7,116 5,873 4,143 6,101 6,307 7,580 7,588 10,617 Multilateral 4,542 4,202 3,359 4,805 4,550 4,976 4,907 6,936 of which: IBRD 813 274 75 14 1 31 45 113 IDA 2,025 2,390 2,193 2,943 2,749 2,987 2,898 3,444 Bilateral 2,574 1,671 784 1,297 1,758 2,604 2,681 3,681 Private creditors 1,906 4,390 3,318 6,366 3,350 8,677 4,409 7,684 of which: Bonds 0 541 765 0 2,076 3,525 0 2,200 Commercial banks 378 1,623 1,752 6,085 833 4,890 4,069 4,204 Private nonguaranteed 630 747 2,119 3,260 3,189 7,453 980 3,764 of which: Bonds 0 350 712 1,307 0 5,762 0 0 Principal repayments 4,620 7,048 8,556 11,384 16,745 13,251 8,299 9,220 Public and publicly guaranteed 4,155 5,808 7,159 10,677 14,234 11,240 6,392 7,815 Official creditors 2,541 2,975 3,440 6,587 8,196 5,149 3,746 3,392 Multilateral 1,343 2,016 1,630 1,554 1,553 1,734 2,000 1,759 of which: IBRD 721 1,056 552 286 284 406 620 202 IDA 51 120 225 248 238 195 463 266 Bilateral 1,197 959 1,811 5,033 6,643 3,414 1,746 1,633 Private creditors 1,614 2,834 3,719 4,091 6,038 6,091 2,645 4,423 of which: Bonds 31 40 480 1 1,742 1,222 52 294 Commercial banks 997 1,261 2,444 3,525 3,172 3,856 2,170 3,657 Private nonguaranteed 466 1,240 1,398 706 2,511 2,012 1,907 1,405 of which: Bonds 0 0 0 0 0 1,390 698 0 Interest payments 4,348 3,975 3,319 7,322 3,420 4,063 3,596 3,261 Public and publicly guaranteed 4,017 3,471 2,915 6,971 2,983 3,515 3,023 2,661 Official creditors 2,696 2,006 1,826 5,855 1,407 2,079 1,667 1,529 Multilateral 1,104 1,234 843 757 695 1,053 931 867 of which: IBRD 651 630 213 53 47 339 109 22 IDA 97 178 199 313 240 179 277 196 Bilateral 1,591 772 982 5,098 712 1,026 737 662 Private creditors 1,321 1,465 1,089 1,116 1,576 1,436 1,356 1,132 of which: Bonds 13 322 561 517 552 539 677 649 Commercial banks 615 457 303 425 780 752 547 393 Private nonguaranteed 331 504 405 352 438 548 574 599 of which: Bonds 0 0 41 61 89 139 258 258 8. Debt stock-flow reconciliation Total change in external debt stocks 19,745 14,545 -3,305 -22,336 -44,023 18,445 6,638 .. 50 Non-debt flows (bill US$) Net flows on external debt 7,001 7,502 200 -1,797 6,947 Debt ratios (%) 5,450 14,565 10,046 0 Cross-currency valuation 7,661 921 -6,871 -13,747 -26,895 3,455 -1,451 .. Debt restructurings 9. 40 Total amount rescheduled 5,987 3,489 22,630 150 1,220 789 895 1,102 .. Total amount forgiven 1,583 1,302 625 9,090 15,425 1,787 1,272 .. Debt buyback 30 0 29 137 0 0 3,322 428 .. 100 20 50 10 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 49 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 103,958 130,267 125,357 135,485 110,475 122,413 129,531 135,593 Long-term external debt 90,375 112,369 107,322 118,661 93,450 104,036 109,987 116,809 Public and publicly guaranteed 88,993 109,551 104,423 116,422 90,584 99,923 104,501 110,863 Private nonguaranteed 1,383 2,818 2,899 2,239 2,866 4,113 5,485 5,946 Use of IMF credit 5,337 6,760 5,608 5,431 3,079 3,444 4,342 5,951 Short-term external debt 8,245 11,139 12,427 11,393 13,946 14,933 15,202 12,833 interest arrears on long-term 3,592 7,765 7,859 7,245 7,737 7,746 6,807 5,869 Memorandum items Principal arrears on long-term 8,561 19,081 16,091 14,317 14,945 15,944 15,004 15,933 Long-term public sector debt 88,399 109,056 104,095 116,259 90,475 99,799 104,376 110,730 Long-term private sector debt 1,976 3,313 3,227 2,402 2,975 4,237 5,610 6,079 Public & publicly guaranteed commitments 8,205 5,089 5,179 6,974 8,549 10,458 12,106 11,050 External debt flows Disbursements 7,123 8,777 4,879 7,032 7,374 9,279 10,339 13,518 Long-term external debt 6,597 5,986 4,420 6,574 6,909 8,851 8,715 11,666 IMF purchases 525 2,792 459 457 465 428 1,624 1,853 Principal repayments 3,128 5,364 2,833 3,031 2,581 3,031 3,397 3,685 Long-term external debt 2,196 3,119 2,388 2,449 2,314 2,819 2,784 3,386 IMF repurchases 932 2,245 445 583 267 213 613 299 Net flows 4,715 3,722 1,516 3,644 6,854 7,225 8,151 8,403 Long-term external debt 4,401 2,867 2,032 4,126 4,595 6,032 5,932 8,280 Short-term external debt 720 309 -530 -357 2,061 978 1,208 -1,431 Interest payments 1,813 2,124 1,382 1,264 1,308 1,800 2,106 1,478 Long-term external debt 1,321 1,470 1,034 1,054 1,005 1,501 1,413 1,298 IMF charges 207 490 45 23 38 14 497 33 Short-term external debt 285 164 303 186 265 286 196 147 2. Other non-debt resource inflows Foreign direct investment 944 1,540 2,759 5,428 7,157 12,812 14,526 12,033 Portfolio equity 5 -10 5 59 70 144 -27 -36 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.3 11.1 11.3 10.1 9.8 Japanese yen 9.0 11.4 10.8 8.1 9.8 9.0 9.9 9.0 Pound sterling 4.0 2.9 2.3 1.8 1.5 1.3 1.0 1.0 Swiss franc 0.9 0.9 0.7 0.6 0.7 0.6 0.5 0.4 U.S.dollars 37.8 41.3 51.7 55.8 49.7 49.2 49.6 49.7 4. Average terms of new commitments Official creditors Interest (%) 2.0 1.7 1.2 1.3 1.5 1.5 1.5 1.3 Maturity (years) 33.9 34.6 36.3 34.9 34.0 34.2 33.6 31.6 Grace period (years) 9.0 9.4 9.3 8.7 8.6 8.7 8.8 7.9 Private creditors Interest (%) 7.9 4.3 5.9 3.7 6.0 7.7 2.9 3.1 Maturity (years) 11.6 6.1 10.5 16.5 16.3 10.2 12.9 11.9 Grace period (years) 2.2 1.2 2.8 4.2 3.2 8.6 2.8 2.5 5. Major economic aggregates Gross national income (GNI) 148,506 148,519 170,831 252,593 282,954 332,638 397,688 417,914 Exports of goods, services & income 18,694 29,201 36,397 66,174 81,340 93,314 111,542 100,756 Worker remit. & comp. of employees 1,470 2,189 4,144 10,071 12,992 16,574 21,962 22,535 Imports of goods, services & income 32,280 47,662 51,937 91,682 108,767 134,406 157,798 132,588 Profit remittances on FDI 581 287 679 3,941 4,979 4,677 4,572 3,628 International reserves 5,892 10,975 11,706 22,281 26,240 30,928 32,032 40,649 6. Ratios External debt stocks to exports (%) 556.1 446.1 344.4 204.7 135.8 131.2 116.1 134.6 External debt stocks to GNI (%) 70.0 87.7 73.4 53.6 39.0 36.8 32.6 32.4 Debt service to exports (%) 26.4 25.6 11.6 6.5 4.8 5.2 4.9 5.1 Short-term to external debt stocks (%) 7.9 8.6 9.9 8.4 12.6 12.2 11.7 9.5 Multilateral to external debt stocks (%) 32.7 39.4 46.2 59.3 49.8 49.9 50.2 50.6 Reserves to external debt stocks (%) 5.7 8.4 9.3 16.4 23.8 25.3 24.7 30.0 Reserves to imports (months) 2.2 2.8 2.7 2.9 2.9 2.8 2.4 3.7 50 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 90,375 112,369 107,322 118,661 93,450 104,036 109,987 116,809 Public and publicly guaranteed 88,993 109,551 104,423 116,422 90,584 99,923 104,501 110,863 Official creditors 81,360 104,329 100,747 112,499 86,897 95,357 100,112 105,359 Multilateral 33,959 51,317 57,944 80,361 54,970 61,092 64,960 68,594 of which: IBRD 2,679 1,692 752 618 622 480 464 463 IDA 19,348 31,736 37,441 53,690 32,148 35,663 37,820 39,115 Bilateral 47,401 53,012 42,802 32,139 31,927 34,265 35,152 36,764 Private creditors 7,633 5,222 3,676 3,923 3,687 4,566 4,389 5,504 of which: Bonds 301 129 7 1 1 750 750 750 Commercial banks 2,264 1,630 1,717 1,710 1,746 1,823 1,769 1,872 Private nonguaranteed 1,383 2,818 2,899 2,239 2,866 4,113 5,485 5,946 of which: Bonds 0 0 250 0 0 0 0 0 Disbursements 6,597 5,986 4,420 6,574 6,909 8,851 8,715 11,666 Public and publicly guaranteed 6,342 5,717 4,355 6,089 6,101 7,482 7,886 10,302 Official creditors 5,681 5,122 4,150 5,827 5,970 6,603 7,710 8,887 Multilateral 3,948 3,876 3,564 5,190 4,863 5,338 5,843 6,620 of which: IBRD 66 32 19 1 0 0 0 0 IDA 2,401 2,350 2,417 3,170 2,742 3,206 3,273 3,085 Bilateral 1,733 1,247 586 636 1,106 1,266 1,867 2,267 Private creditors 661 595 205 262 131 879 176 1,415 of which: Bonds 0 0 0 0 0 750 0 0 Commercial banks 193 221 122 122 100 57 60 283 Private nonguaranteed 255 269 65 486 808 1,369 829 1,363 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 2,196 3,119 2,388 2,449 2,314 2,819 2,784 3,386 Public and publicly guaranteed 2,083 2,905 2,141 2,224 2,124 2,534 2,333 2,431 Official creditors 1,383 2,118 1,828 2,025 1,930 2,399 2,196 2,208 Multilateral 680 1,057 949 1,209 1,263 1,558 1,447 1,362 of which: IBRD 229 286 122 8 5 167 26 0 IDA 59 172 303 401 426 405 606 505 Bilateral 703 1,061 879 816 666 841 750 846 Private creditors 700 787 313 199 195 135 136 223 of which: Bonds 30 30 0 1 0 0 0 0 Commercial banks 274 288 156 101 98 50 61 75 Private nonguaranteed 113 214 247 225 190 285 451 955 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1,321 1,470 1,034 1,054 1,005 1,501 1,413 1,298 Public and publicly guaranteed 1,256 1,394 918 974 942 1,428 1,306 1,153 Official creditors 967 1,223 836 931 891 1,376 1,194 1,063 Multilateral 528 672 518 699 646 1,007 803 683 of which: IBRD 165 132 40 3 2 294 1 0 IDA 123 226 234 372 307 245 294 259 Bilateral 439 551 318 231 244 369 391 380 Private creditors 289 171 82 43 52 52 112 90 of which: Bonds 13 6 0 0 0 0 64 32 Commercial banks 126 87 39 21 24 27 24 34 Private nonguaranteed 65 76 116 80 63 73 107 145 of which: Bonds 0 0 14 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 10,997 4,634 -4,312 -8,679 -25,010 11,937 7,118 .. 20 Non-debt flows (bill US$) Net flows on external debt 4,715 3,722 400 1,516 3,644 Debt ratios (%) 6,854 7,225 8,151 0 Cross-currency valuation 4,613 -1,729 -5,797 -9,090 -26,840 2,738 -1,224 .. 350 9. Debt restructurings Total amount rescheduled 15 2,089 1,065 827 300 1,123 474 1,192 796 .. Total amount forgiven 1,494 952 580 1,368 1,043 534 1,664 .. Debt buyback 0 29 250 137 0 0 0 0 .. 10 200 150 5 100 50 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 51 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 1. Summary external debt data External debt stocks 1,149,058 1,729,983 1,996,738 2,353,247 2,532,775 3,057,592 3,295,853 3,409,521 Long-term external debt 941,793 1,357,298 1,669,543 1,846,168 1,973,636 2,317,874 2,562,063 2,642,391 Public and publicly guaranteed 883,559 1,151,625 1,182,691 1,166,759 1,120,275 1,208,341 1,243,521 1,296,127 Private nonguaranteed 58,234 205,673 486,852 679,409 853,361 1,109,532 1,318,541 1,346,264 Use of IMF credit 28,289 52,961 52,623 43,748 16,780 12,097 20,573 46,227 Short-term external debt 178,976 319,724 274,573 463,331 542,359 727,621 713,217 720,903 interest arrears on long-term 41,096 36,774 23,978 21,419 18,598 20,186 21,000 20,857 Memorandum items Principal arrears on long-term 45,420 85,575 44,743 32,114 30,126 32,041 34,617 35,624 Long-term public sector debt 878,367 1,147,052 1,177,149 1,162,431 1,116,112 1,203,705 1,238,032 1,285,038 Long-term private sector debt 63,426 210,246 492,394 683,736 857,525 1,114,169 1,324,031 1,357,353 Public & publicly guaranteed commitments 104,726 135,443 140,667 150,376 131,472 179,528 164,346 205,668 External debt flows Disbursements 114,196 200,691 230,939 377,253 451,264 636,731 612,765 523,955 Long-term external debt 107,273 175,700 221,283 373,750 447,615 635,146 600,629 497,462 IMF purchases 6,924 24,992 9,656 3,504 3,649 1,585 12,137 26,493 Principal repayments 76,014 115,201 229,878 331,971 380,667 359,995 395,795 404,549 Long-term external debt 69,121 108,808 209,730 288,431 350,114 353,053 392,609 403,004 IMF repurchases 6,893 6,393 20,148 43,539 30,553 6,942 3,187 1,545 Net flows 51,643 139,263 -6,692 120,133 152,447 460,004 201,753 127,235 Long-term external debt 38,152 66,892 11,553 85,319 97,501 282,092 208,020 94,458 Short-term external debt 13,461 53,773 -7,752 74,850 81,850 183,268 -15,218 7,829 Interest payments 58,971 82,887 111,040 102,325 116,001 133,910 138,462 122,846 Long-term external debt 47,596 66,007 92,710 83,789 94,084 107,671 118,845 108,907 IMF charges 2,208 2,133 2,818 3,254 1,584 697 482 521 Short-term external debt 9,166 14,748 15,512 15,282 20,333 25,542 19,135 13,418 2. Other non-debt resource inflows Foreign direct investment 20,665 93,117 145,614 268,162 336,180 495,319 572,583 342,055 Portfolio equity 3,385 13,789 13,950 67,439 107,603 134,937 -53,166 108,193 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 14.8 15.4 15.9 14.6 15.4 Japanese yen 11.1 13.2 12.1 10.3 10.2 9.4 11.2 10.7 Pound sterling 2.3 1.4 0.9 1.0 0.7 0.6 0.4 0.5 Swiss franc 1.8 1.1 0.4 0.6 0.6 0.6 0.6 0.5 U.S.dollars 45.2 48.6 63.8 66.6 66.5 67.4 67.6 67.4 4. Average terms of new commitments Official creditors Interest (%) 5.8 6.1 5.2 3.9 4.3 4.0 3.2 2.2 Maturity (years) 21.3 18.3 18.5 20.6 21.3 21.5 22.1 20.4 Grace period (years) 6.3 5.1 4.6 5.3 5.9 6.1 6.3 6.0 Private creditors Interest (%) 8.5 6.5 8.1 6.3 6.2 6.3 6.0 6.3 Maturity (years) 11.7 7.5 11.3 11.2 12.0 10.8 11.7 10.0 Grace period (years) 5.0 3.5 8.4 8.7 9.7 7.9 8.1 8.7 5. Major economic aggregates Gross national income (GNI) 3,386,550 4,642,072 5,441,751 9,169,241 10,897,697 13,510,580 16,175,725 15,595,681 Exports of goods, services & income 633,948 1,112,250 1,616,680 3,263,528 3,976,815 4,817,919 5,751,219 4,656,643 Worker remit. & comp. of employees 29,291 52,404 76,052 180,573 212,333 260,591 301,581 282,665 Imports of goods, services & income 686,368 1,253,317 1,651,272 3,116,709 3,729,572 4,572,744 5,575,660 4,453,692 Profit remittances on FDI 15,537 36,422 67,062 159,206 227,201 294,734 336,367 240,176 International reserves 172,630 427,824 630,128 1,954,365 2,584,597 3,663,535 4,115,129 4,780,334 6. Ratios External debt stocks to exports (%) 181.3 155.5 123.5 72.1 63.7 63.5 57.3 73.2 External debt stocks to GNI (%) 33.9 37.3 36.7 25.7 23.2 22.6 20.4 21.9 Debt service to exports (%) 21.3 17.8 21.1 13.3 12.6 10.3 9.3 11.4 Short-term to external debt stocks (%) 15.6 18.5 13.8 19.7 21.4 23.8 21.6 21.1 Multilateral to external debt stocks (%) 14.4 13.1 13.4 12.5 11.6 10.2 10.0 10.8 Reserves to external debt stocks (%) 15.0 24.7 31.6 83.0 102.0 119.8 124.9 140.2 Reserves to imports (months) 3.0 4.1 4.6 7.5 8.3 9.6 8.9 12.9 52 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2005 2006 2007 2008 2009 7. Long-term external debt Debt outstanding and disbursed 941,793 1,357,298 1,669,543 1,846,168 1,973,636 2,317,874 2,562,063 2,642,391 Public and publicly guaranteed 883,559 1,151,625 1,182,691 1,166,759 1,120,275 1,208,341 1,243,521 1,296,127 Official creditors 438,465 660,387 650,322 601,794 549,150 570,939 607,550 658,702 Multilateral 165,992 227,296 268,136 293,057 292,640 311,425 328,484 369,450 of which: IBRD 87,958 104,693 107,328 95,641 91,664 93,086 96,171 107,521 IDA 25,929 39,759 49,355 67,387 66,857 72,011 73,449 77,788 Bilateral 272,473 433,091 382,186 308,738 256,510 259,514 279,065 289,252 Private creditors 445,094 491,238 532,369 564,964 571,126 637,402 635,972 637,424 of which: Bonds 99,048 220,333 341,850 400,331 409,074 451,416 461,540 475,018 Commercial banks 222,013 145,235 124,148 124,047 126,442 155,452 148,365 134,468 Private nonguaranteed 58,234 205,673 486,852 679,409 853,361 1,109,532 1,318,541 1,346,264 of which: Bonds 347 51,018 89,242 154,026 190,151 250,422 240,701 256,025 Disbursements 107,273 175,700 221,283 373,750 447,615 635,146 600,629 497,462 Public and publicly guaranteed 90,270 122,474 130,505 136,439 133,917 174,501 163,897 179,889 Official creditors 42,799 59,743 48,157 40,185 48,135 51,865 60,296 87,544 Multilateral 22,548 27,218 30,622 29,091 34,869 37,718 41,518 63,151 of which: IBRD 13,019 12,505 12,888 9,177 11,933 10,498 13,608 22,125 IDA 1,929 3,124 2,803 4,037 4,029 4,152 3,590 5,616 Bilateral 20,251 32,526 17,535 11,094 13,267 14,147 18,779 24,393 Private creditors 47,472 62,730 82,348 96,255 85,781 122,636 103,600 92,345 of which: Bonds 4,226 21,993 55,784 61,066 56,972 71,466 72,936 68,909 Commercial banks 14,399 21,968 17,988 31,610 24,060 47,884 28,386 18,764 Private nonguaranteed 17,002 53,226 90,778 237,310 313,699 460,645 436,732 317,573 of which: Bonds 291 14,063 10,810 46,898 53,017 83,950 25,655 36,484 Principal repayments 69,121 108,808 209,730 288,431 350,114 353,053 392,609 403,004 Public and publicly guaranteed 62,013 83,104 112,020 143,589 189,760 125,489 141,943 114,507 Official creditors 21,196 40,466 45,646 67,853 95,064 50,929 47,934 44,295 Multilateral 10,976 18,592 21,596 25,425 35,202 24,922 25,525 24,109 of which: IBRD 7,574 11,079 9,287 12,059 17,164 10,677 10,898 10,838 IDA 189 370 645 1,220 1,353 1,431 1,690 1,745 Bilateral 10,220 21,874 24,050 42,428 59,863 26,007 22,409 20,186 Private creditors 40,817 42,638 66,374 75,736 94,696 74,561 94,009 70,212 of which: Bonds 4,240 11,061 31,454 44,629 60,268 43,632 54,625 32,872 Commercial banks 19,595 14,992 23,100 22,215 25,056 23,922 32,276 30,124 Private nonguaranteed 7,108 25,704 97,710 144,843 160,354 227,564 250,666 288,498 of which: Bonds 0 4,042 15,002 15,063 17,973 24,350 19,902 21,401 Interest payments 47,596 66,007 92,710 83,789 94,084 107,671 118,845 108,907 Public and publicly guaranteed 43,119 55,186 62,221 59,532 55,392 58,216 57,734 52,802 Official creditors 16,953 26,172 25,125 22,973 18,803 18,787 17,766 15,822 Multilateral 9,710 12,481 14,690 9,873 11,013 11,852 11,484 9,739 of which: IBRD 6,588 7,478 7,404 4,010 4,775 5,136 4,571 3,415 IDA 178 277 344 525 504 514 614 539 Bilateral 7,243 13,691 10,435 13,101 7,790 6,934 6,282 6,083 Private creditors 26,166 29,014 37,097 36,558 36,589 39,429 39,968 36,980 of which: Bonds 4,087 14,707 25,000 30,143 28,861 31,151 31,666 30,712 Commercial banks 15,865 7,735 8,527 4,900 6,234 6,514 6,648 5,070 Private nonguaranteed 4,477 10,820 30,489 24,257 38,691 49,456 61,110 56,105 of which: Bonds 3 3,172 7,760 8,809 13,935 16,186 15,993 16,188 8. Debt stock-flow reconciliation Total change in external debt stocks 82,000 165,259 -58,959 -10,518 179,528 524,816 238,261 .. 750 Non-debt flows (bill US$) Net flows on external debt 51,643 139,263 200 -6,692 120,133 Debt 152,447 ratios460,004 (%) 201,753 0 Cross-currency valuation 38,877 4,889 -43,722 -66,183 19,897 35,354 15,452 .. 9. Debt restructurings Total amount rescheduled 73,415 29,655 60,510 150 31,701 4,313 1,958 823 .. Total amount forgiven 500 10,876 1,292 365 19,157 15,079 2,715 516 .. Debt buyback 4,359 132 15,935 736 5,450 6,035 3,998 .. 100 250 50 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 53 . Country Tables 55 AFGHANISTAN 1. Summary external debt data External debt stocks .. .. .. .. 929 1,974 2,089 2,328 Long-term external debt .. .. .. .. 911 1,894 1,985 2,203 Public and publicly guaranteed .. .. .. .. 911 1,894 1,985 2,203 Private nonguaranteed .. .. .. .. 0 0 0 0 Use of IMF credit .. 0 0 0 0 59 87 106 Short-term external debt .. .. .. .. 18 21 17 20 interest arrears on long-term .. .. .. .. 18 21 17 20 Memorandum items .. .. .. .. 87 89 56 54 .. .. .. .. 911 1,894 1,985 2,203 .. .. .. .. 0 0 0 0 .. .. .. .. 130 37 58 0 External debt flows Disbursements .. .. .. .. 146 202 132 130 Long-term external debt .. .. .. .. 146 147 96 112 IMF purchases .. 0 0 0 0 55 36 17 Principal repayments .. .. .. .. 3 1 1 3 Long-term external debt .. .. .. .. 3 1 1 3 IMF repurchases .. 0 0 0 0 0 0 0 Net flows .. .. .. .. 143 201 131 126 Long-term external debt .. .. .. .. 143 146 95 109 Short-term external debt .. .. .. .. 0 0 0 0 Interest payments .. .. .. .. 6 3 6 7 Long-term external debt .. .. .. .. 6 3 6 7 IMF charges .. 0 0 0 0 0 0 1 Short-term external debt .. .. .. .. 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment .. .. .. .. 238 243 300 185 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. .. 0.0 0.0 0.0 0.0 Japanese yen .. .. .. .. 0.0 0.0 0.0 0.0 Pound sterling .. .. .. .. 2.8 1.3 0.0 0.0 Swiss franc .. .. .. .. 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. .. 63.3 74.5 73.0 66.1 4. Average terms of new commitments Official creditors Interest (%) .. .. .. .. 1.2 1.4 0.5 0.0 Maturity (years) .. .. .. .. 39.8 31.6 34.6 0.0 Grace period (years) .. .. .. .. 10.3 8.1 10.0 0.0 Private creditors Interest (%) .. .. .. .. 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. .. 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. .. 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. 8,209 10,184 10,644 .. Exports of goods, services & income .. .. .. .. 3,714 3,791 4,367 2,825 Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & income .. .. .. .. .. 5,746 5,603 .. Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. 25.0 52.1 47.8 82.4 External debt stocks to GNI (%) .. .. .. .. 11.3 19.4 19.6 .. Debt service to exports (%) .. .. .. .. 0.2 0.1 0.2 0.4 Short-term to external debt stocks (%) .. .. .. .. 2.0 1.1 0.8 0.9 Multilateral to external debt stocks (%) .. .. .. .. 70.4 41.5 43.3 47.7 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 56 AFGHANISTAN 7. Long-term external debt Debt outstanding and disbursed .. .. .. .. 911 1,894 1,985 2,203 Public and publicly guaranteed .. .. .. .. 911 1,894 1,985 2,203 Official creditors .. .. .. .. 910 1,893 1,984 2,202 Multilateral .. .. .. .. 654 819 903 1,112 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 294 343 399 438 471 Bilateral .. .. .. .. 257 1,074 1,081 1,090 Private creditors .. .. .. .. 0 0 0 0 of which: Bonds .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. 0 0 0 0 of which: Bonds .. .. .. .. 0 0 0 0 Disbursements .. .. .. .. 146 147 96 112 Public and publicly guaranteed .. .. .. .. 146 147 96 112 Official creditors .. .. .. .. 146 147 96 112 Multilateral .. .. .. .. 107 140 96 109 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 84 39 44 44 27 Bilateral .. .. .. .. 40 7 1 4 Private creditors .. .. .. .. 0 0 0 0 of which: Bonds .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. 0 0 0 0 of which: Bonds .. .. .. .. 0 0 0 0 Principal repayments .. .. .. .. 3 1 1 3 Public and publicly guaranteed .. .. .. .. 3 1 1 3 Official creditors .. .. .. .. 3 1 1 3 Multilateral .. .. .. .. 3 1 1 1 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 3 3 0 0 0 Bilateral .. .. .. .. 0 0 0 3 Private creditors .. .. .. .. 0 0 0 0 of which: Bonds .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. 0 0 0 0 of which: Bonds .. .. .. .. 0 0 0 0 Interest payments .. .. .. .. 6 3 6 7 Public and publicly guaranteed .. .. .. .. 6 3 6 7 Official creditors .. .. .. .. 6 3 6 7 Multilateral .. .. .. .. 6 3 6 7 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 3 3 0 2 2 Bilateral .. .. .. .. 0 0 0 0 Private creditors .. .. .. .. 0 0 0 0 of which: Bonds .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. 0 0 0 0 of which: Bonds .. .. .. .. 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. .. .. 229 1,045 115 240 Net flows on external debt .. .. .. .. 143 201 131 126 9. Debt restructurings Total amount rescheduled .. .. .. .. 95 842 52 1 Total amount forgiven .. .. .. .. 0 21 52 4 Debt buyback .. .. .. .. 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 7 17 31 43 94 104 107 99 Interest 12 14 22 21 64 61 59 54 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data include the effects of the 2006 Paris Club rescheduling. Data for 2007, 2008, and 2009 include the effects of Enhanced HIPC Initiative, in the amount of $1,774 in thousands, $3,537 in thousands, and $3,523 in thousands respectively. 57 ALBANIA 1. Summary external debt data External debt stocks .. 456 1,061 2,052 2,439 2,887 3,942 4,719 Long-term external debt .. 330 936 1,805 1,960 2,287 2,932 3,813 Public and publicly guaranteed .. 330 921 1,379 1,601 1,829 2,264 2,829 Private nonguaranteed .. 0 15 426 359 458 668 983 Use of IMF credit .. 65 88 92 93 90 80 71 Short-term external debt .. 62 37 155 386 511 930 835 interest arrears on long-term .. 2 3 1 1 1 0 0 Memorandum items .. 27 271 16 16 17 1 0 .. 330 920 1,379 1,601 1,829 2,264 2,829 .. 0 16 426 359 458 668 983 .. 183 173 225 311 280 610 356 External debt flows Disbursements .. 80 138 512 208 312 821 776 Long-term external debt .. 70 120 500 201 305 813 772 IMF purchases .. 11 19 12 7 7 8 4 Principal repayments .. 2 16 50 158 92 96 172 Long-term external debt .. 0 9 41 147 77 80 158 IMF repurchases .. 1 7 9 11 14 15 14 Net flows .. -99 130 616 281 344 1,145 509 Long-term external debt .. 69 110 459 54 227 733 614 Short-term external debt .. -178 8 154 231 124 420 -95 Interest payments .. 9 11 30 47 60 68 92 Long-term external debt .. 5 8 25 29 34 50 81 IMF charges .. 1 1 0 1 1 1 1 Short-term external debt .. 3 2 4 17 26 17 11 2. Other non-debt resource inflows Foreign direct investment .. 70 143 262 325 662 973 978 Portfolio equity .. 0 0 .. .. .. 23 4 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 28.6 32.3 36.8 48.5 55.5 Japanese yen .. 2.5 3.2 3.9 3.4 2.9 2.8 2.1 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 60.7 72.5 58.3 54.3 50.1 39.4 33.3 4. Average terms of new commitments Official creditors Interest (%) .. 3.4 3.5 2.7 3.4 4.3 1.9 2.3 Maturity (years) .. 25.4 29.7 21.3 20.2 20.7 28.3 16.4 Grace period (years) .. 7.5 10.5 7.2 6.6 5.3 8.3 6.4 Private creditors Interest (%) .. 3.0 0.0 0.0 0.3 5.3 6.2 11.0 Maturity (years) .. 22.7 0.0 0.0 29.9 11.2 15.4 3.3 Grace period (years) .. 11.7 0.0 0.0 18.8 1.7 6.0 3.0 5. Major economic aggregates Gross national income (GNI) .. 2,468 3,790 8,541 9,386 11,136 12,977 11,724 Exports of goods, services & income .. 376 819 2,048 2,629 3,407 4,307 3,836 Worker remit. & comp. of employees .. 427 598 1,290 1,359 1,468 1,495 1,317 Imports of goods, services & income .. 865 1,509 3,913 4,569 5,989 7,689 7,018 Profit remittances on FDI .. 4 0 2 5 9 285 401 Current account balance .. -12 -156 -571 -671 -1,151 -2,002 -1,875 International reserves .. 265 646 1,440 1,813 2,162 2,364 2,369 6. Ratios External debt stocks to exports (%) .. 121.5 129.5 100.2 92.8 84.7 91.5 123.0 External debt stocks to GNI (%) .. 18.5 28.0 24.0 26.0 25.9 30.4 40.3 Debt service to exports (%) .. 2.8 3.3 3.9 7.8 4.5 3.8 6.9 Short-term to external debt stocks (%) .. 13.7 3.5 7.6 15.8 17.7 23.6 17.7 Multilateral to external debt stocks (%) .. 25.1 40.2 42.6 42.6 42.3 34.1 31.9 Reserves to external debt stocks (%) .. 58.1 60.9 70.2 74.3 74.9 60.0 50.2 Reserves to imports (months) .. 3.7 5.1 4.4 4.8 4.3 3.7 4.1 58 ALBANIA 7. Long-term external debt Debt outstanding and disbursed .. 330 936 1,805 1,960 2,287 2,932 3,813 Public and publicly guaranteed .. 330 921 1,379 1,601 1,829 2,264 2,829 Official creditors .. 305 899 1,357 1,578 1,807 1,923 2,164 Multilateral .. 115 426 875 1,039 1,222 1,343 1,504 of which: IBRD .. 0 0 0 0 6 17 24 IDA .. 109 346 655 729 803 817 849 Bilateral .. 190 473 482 539 586 579 660 Private creditors .. 25 22 22 23 21 342 665 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 326 630 Private nonguaranteed .. 0 15 426 359 458 668 983 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 70 120 500 201 305 813 772 Public and publicly guaranteed .. 70 120 123 185 176 574 543 Official creditors .. 70 120 123 185 175 218 241 Multilateral .. 48 101 89 132 143 180 175 of which: IBRD .. 0 0 0 0 5 12 7 IDA .. 43 64 34 46 48 27 34 Bilateral .. 22 19 34 53 32 39 66 Private creditors .. 0 0 0 0 1 356 302 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 345 283 Private nonguaranteed .. 0 0 377 15 128 239 229 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 9 41 147 77 80 158 Public and publicly guaranteed .. 0 9 40 57 55 58 79 Official creditors .. 0 8 39 54 52 58 78 Multilateral .. 0 2 18 24 26 28 39 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 4 5 6 7 9 Bilateral .. 0 6 21 31 26 30 39 Private creditors .. 0 1 1 3 4 0 1 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 1 90 22 23 79 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 5 8 25 29 34 50 81 Public and publicly guaranteed .. 5 7 23 25 31 44 70 Official creditors .. 4 7 23 25 31 35 37 Multilateral .. 1 4 14 14 18 24 25 of which: IBRD .. 0 0 0 0 0 1 1 IDA .. 1 2 5 6 6 6 6 Bilateral .. 3 3 9 11 13 11 12 Private creditors .. 1 0 0 0 0 9 33 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 9 33 Private nonguaranteed .. 0 1 2 4 3 6 10 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. -427 352 505 387 448 1,055 777 Net flows on external debt .. -99 130 616 281 344 1,145 509 9. Debt restructurings Total amount rescheduled .. 6 28 10 9 0 8 41 Total amount forgiven .. 116 0 0 2 0 0 0 Debt buyback .. 30 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 112 124 134 141 145 152 142 146 Interest 35 37 37 36 34 31 28 26 Private creditors Principal 195 163 437 144 171 99 79 106 Interest 75 71 34 28 23 19 15 11 Notes: Long-term private nonguaranteed debt data are reported by the Bank of Albania for the first time. Short-term debt is revised based on Central Bank data from 2005. 59 ALGERIA 1. Summary external debt data External debt stocks 28,149 33,053 25,389 16,873 5,722 5,794 5,825 5,345 Long-term external debt 26,688 31,314 23,449 16,357 5,181 5,045 4,522 3,853 Public and publicly guaranteed 26,688 31,314 23,449 15,491 3,877 3,896 3,078 2,871 Private nonguaranteed 0 0 0 866 1,304 1,148 1,444 982 Use of IMF credit 670 1,478 1,718 0 0 0 0 0 Short-term external debt 791 261 222 516 541 750 1,304 1,492 interest arrears on long-term 0 3 0 0 0 0 0 0 Memorandum items 1 1 0 0 0 0 0 0 26,608 31,226 23,328 15,316 3,817 3,788 2,997 2,798 80 89 122 1,040 1,364 1,256 1,525 1,055 8,054 2,427 1,419 331 212 94 0 5 External debt flows Disbursements 7,017 4,157 1,215 1,239 853 471 580 194 Long-term external debt 7,017 3,683 1,215 1,239 853 471 580 194 IMF purchases 0 475 0 0 0 0 0 0 Principal repayments 6,780 2,419 2,813 5,057 12,791 1,122 1,060 887 Long-term external debt 6,780 2,248 2,721 4,445 12,791 1,122 1,060 887 IMF repurchases 0 171 93 612 0 0 0 0 Net flows -811 1,361 -1,572 -3,733 -11,914 -443 73 -504 Long-term external debt 237 1,435 -1,506 -3,207 -11,939 -652 -481 -693 Short-term external debt -1,049 -378 27 85 25 209 554 189 Interest payments 2,025 1,832 1,655 921 626 224 191 140 Long-term external debt 1,784 1,741 1,552 888 610 202 161 122 IMF charges 62 69 92 18 1 0 0 0 Short-term external debt 179 22 10 15 15 22 31 18 2. Other non-debt resource inflows Foreign direct investment 0 .. 438 1,081 1,795 1,662 2,646 2,847 Portfolio equity 0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 40.5 58.4 61.9 60.9 62.5 Japanese yen 15.1 13.1 14.4 8.2 6.1 4.8 5.4 4.5 Pound sterling 1.5 0.9 1.0 1.4 0.0 0.0 0.0 0.0 Swiss franc 0.8 0.7 0.5 0.8 0.1 0.1 0.0 0.0 U.S.dollars 33.5 38.0 44.4 40.9 30.0 26.8 27.6 26.9 4. Average terms of new commitments Official creditors Interest (%) 7.0 6.2 6.2 3.2 0.5 0.9 0.0 2.0 Maturity (years) 16.8 11.7 14.9 12.9 17.5 14.7 0.0 21.8 Grace period (years) 4.0 3.3 4.1 3.6 3.4 7.7 0.0 6.7 Private creditors Interest (%) 8.9 7.2 6.2 2.6 3.5 4.6 0.0 0.0 Maturity (years) 6.6 8.9 7.4 9.6 12.0 6.0 0.0 0.0 Grace period (years) 2.0 1.9 1.9 2.0 3.1 0.9 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 59,955 39,574 52,080 97,259 112,669 134,004 169,689 139,577 Exports of goods, services & income 13,535 .. .. 50,270 59,740 67,240 87,210 .. Worker remit. & comp. of employees 352 1,120 790 2,060 1,610 2,120 2,202 2,193 Imports of goods, services & income 12,448 .. .. 24,640 25,460 33,180 49,140 .. Profit remittances on FDI 151 .. .. .. .. .. .. .. Current account balance 1,420 .. .. .. .. .. .. .. International reserves 2,703 4,164 13,556 59,167 81,463 114,972 148,099 155,112 6. Ratios External debt stocks to exports (%) 208.0 .. .. 33.6 9.6 8.6 6.7 .. External debt stocks to GNI (%) 47.0 83.5 48.8 17.3 5.1 4.3 3.4 3.8 Debt service to exports (%) 65.1 .. .. 11.9 22.5 2.0 1.4 .. Short-term to external debt stocks (%) 2.8 0.8 0.9 3.1 9.5 12.9 22.4 27.9 Multilateral to external debt stocks (%) 7.2 11.8 16.2 14.5 2.5 2.3 0.2 0.2 Reserves to external debt stocks (%) 9.6 12.6 53.4 350.7 1,423.6 1,984.3 2,542.3 2,901.8 Reserves to imports (months) 2.6 .. .. 28.8 38.4 41.6 36.2 .. 60 ALGERIA 7. Long-term external debt Debt outstanding and disbursed 26,688 31,314 23,449 16,357 5,181 5,045 4,522 3,853 Public and publicly guaranteed 26,688 31,314 23,449 15,491 3,877 3,896 3,078 2,871 Official creditors 5,866 15,697 17,598 12,426 2,172 2,318 2,066 2,050 Multilateral 2,031 3,915 4,123 2,443 144 136 13 11 of which: IBRD 1,208 2,049 1,425 779 119 113 11 10 IDA 0 0 0 0 0 0 0 0 Bilateral 3,835 11,781 13,475 9,983 2,027 2,183 2,053 2,039 Private creditors 20,822 15,618 5,851 3,065 1,706 1,578 1,012 821 of which: Bonds 1,420 0 0 0 0 0 0 0 Commercial banks 5,851 4,529 2,508 1,038 59 76 60 54 Private nonguaranteed 0 0 0 866 1,304 1,148 1,444 982 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 7,017 3,683 1,215 1,239 853 471 580 194 Public and publicly guaranteed 7,017 3,683 1,215 776 401 167 173 71 Official creditors 1,835 1,596 795 445 263 109 157 70 Multilateral 612 932 349 358 54 6 5 0 of which: IBRD 300 554 58 31 16 6 5 0 IDA 0 0 0 0 0 0 0 0 Bilateral 1,223 664 446 87 209 103 152 70 Private creditors 5,182 2,087 420 331 138 58 16 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 206 222 0 8 34 20 0 0 Private nonguaranteed 0 0 0 463 451 304 407 123 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 6,780 2,248 2,721 4,445 12,791 1,122 1,060 887 Public and publicly guaranteed 6,780 2,248 2,721 4,217 12,640 591 917 366 Official creditors 1,174 671 1,055 2,846 10,938 198 372 156 Multilateral 312 454 351 1,190 2,396 16 127 1 of which: IBRD 130 260 172 156 677 12 107 1 IDA 0 0 0 0 0 0 0 0 Bilateral 862 217 704 1,655 8,542 182 245 155 Private creditors 5,606 1,577 1,666 1,371 1,702 392 545 210 of which: Bonds 16 278 0 0 0 0 0 0 Commercial banks 1,330 220 439 348 1,029 10 13 8 Private nonguaranteed 0 0 0 229 151 532 144 522 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1,784 1,741 1,552 888 610 202 161 122 Public and publicly guaranteed 1,784 1,741 1,552 863 557 145 113 73 Official creditors 312 823 1,131 711 441 61 49 34 Multilateral 117 251 297 163 118 7 12 1 of which: IBRD 73 137 128 46 21 6 12 1 IDA 0 0 0 0 0 0 0 0 Bilateral 195 572 834 547 322 53 37 33 Private creditors 1,472 917 421 152 116 84 63 39 of which: Bonds 105 13 0 0 0 0 0 0 Commercial banks 526 251 146 34 30 2 2 2 Private nonguaranteed 0 0 0 25 53 57 48 49 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 912 2,810 -2,618 -5,314 -11,151 72 31 -480 Net flows on external debt -811 1,361 -1,572 -3,733 -11,914 -443 73 -504 9. Debt restructurings Total amount rescheduled 0 5,096 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 478 223 205 193 214 185 152 134 Interest 47 40 36 32 28 23 20 16 Private creditors Principal 450 357 516 132 94 80 79 53 Interest 45 33 24 17 13 10 7 5 Notes: Short-term debt data are reported by the country. 61 ANGOLA 1. Summary external debt data External debt stocks 8,592 11,500 9,408 11,822 9,469 11,518 15,132 16,715 Long-term external debt 7,603 9,543 8,085 9,506 7,337 9,247 12,713 13,722 Public and publicly guaranteed 7,603 9,543 8,085 9,506 7,337 9,247 12,713 13,722 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 359 Short-term external debt 989 1,958 1,323 2,316 2,132 2,271 2,419 2,634 interest arrears on long-term 204 1,232 874 577 161 90 71 90 Memorandum items 496 4,190 2,853 1,877 700 351 279 361 7,599 9,513 8,059 9,495 7,331 9,245 12,712 13,721 5 29 26 12 7 2 1 0 523 420 1,033 14,150 2,036 4,378 4,188 5,705 External debt flows Disbursements 862 550 1,045 3,664 1,224 5,648 4,624 4,399 Long-term external debt 862 550 1,045 3,664 1,224 5,648 4,624 4,046 IMF purchases 0 0 0 0 0 0 0 353 Principal repayments 183 332 1,530 2,289 3,513 3,753 1,132 3,088 Long-term external debt 183 332 1,530 2,289 3,513 3,753 1,132 3,088 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 977 -90 -733 2,591 -2,057 2,105 3,659 1,508 Long-term external debt 679 218 -485 1,375 -2,289 1,895 3,492 958 Short-term external debt 298 -308 -248 1,216 232 210 167 196 Interest payments 143 132 175 313 908 681 511 420 Long-term external debt 100 79 149 257 824 577 443 389 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 43 53 26 57 83 104 68 31 2. Other non-debt resource inflows Foreign direct investment -335 472 879 -1,304 -38 -893 1,679 2,205 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.2 6.2 6.4 7.6 9.6 Japanese yen 0.3 0.3 0.5 0.3 0.0 0.0 0.0 0.0 Pound sterling 1.4 0.9 1.0 0.9 0.2 0.2 0.1 0.1 Swiss franc 0.7 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 80.7 81.0 86.3 87.8 90.4 91.1 90.6 88.6 4. Average terms of new commitments Official creditors Interest (%) 5.7 8.1 0.8 6.5 1.1 0.4 0.6 3.4 Maturity (years) 14.1 9.9 39.8 13.8 10.9 12.1 43.4 8.7 Grace period (years) 3.7 0.4 10.3 2.0 1.5 2.7 10.4 1.7 Private creditors Interest (%) 7.7 8.1 5.0 6.6 8.0 6.3 4.5 6.5 Maturity (years) 7.7 8.6 3.1 7.7 9.0 6.8 7.4 5.3 Grace period (years) 1.8 0.4 1.3 1.3 0.8 1.0 0.8 1.2 5. Major economic aggregates Gross national income (GNI) 8,214 3,688 7,449 26,601 39,679 50,485 70,441 59,261 Exports of goods, services & income 4,003 3,852 8,222 24,312 33,492 45,329 64,666 41,582 Worker remit. & comp. of employees .. .. .. .. .. .. 82 .. Imports of goods, services & income 4,161 4,302 7,454 19,201 22,612 34,913 58,048 48,784 Profit remittances on FDI 314 386 929 3,406 5,278 7,268 13,185 6,130 Current account balance -236 -295 796 5,138 10,690 10,194 6,408 .. International reserves .. 213 1,198 3,197 8,599 11,197 17,869 13,664 6. Ratios External debt stocks to exports (%) 214.6 298.6 114.4 48.6 28.3 25.4 23.4 40.2 External debt stocks to GNI (%) 104.6 311.9 126.3 44.4 23.9 22.8 21.5 28.2 Debt service to exports (%) 8.1 12.0 20.7 10.7 13.2 9.8 2.5 8.4 Short-term to external debt stocks (%) 11.5 17.0 14.1 19.6 22.5 19.7 16.0 15.8 Multilateral to external debt stocks (%) 0.7 1.7 3.1 3.1 4.2 3.6 2.8 2.6 Reserves to external debt stocks (%) .. 1.9 12.7 27.0 90.8 97.2 118.1 81.7 Reserves to imports (months) .. 0.6 1.9 2.0 4.6 3.8 3.7 3.4 62 ANGOLA 7. Long-term external debt Debt outstanding and disbursed 7,603 9,543 8,085 9,506 7,337 9,247 12,713 13,722 Public and publicly guaranteed 7,603 9,543 8,085 9,506 7,337 9,247 12,713 13,722 Official creditors 1,839 2,226 2,703 3,162 2,578 3,202 4,006 4,820 Multilateral 57 191 294 371 396 416 421 441 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 81 226 319 347 365 369 385 Bilateral 1,782 2,035 2,409 2,791 2,182 2,785 3,585 4,379 Private creditors 5,765 7,316 5,382 6,344 4,760 6,045 8,707 8,902 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 143 873 2,625 5,062 3,928 5,248 7,790 7,953 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 3,664 1,224 5,648 4,624 4,046 Public and publicly guaranteed 862 550 1,045 3,664 1,224 5,648 4,624 4,046 Official creditors 169 119 34 309 508 953 1,103 1,112 Multilateral 5 30 24 34 21 9 16 23 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 30 24 30 18 8 12 19 Bilateral 164 89 10 275 487 944 1,087 1,089 Private creditors 693 431 1,011 3,355 717 4,695 3,521 2,934 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 17 396 1,010 3,236 573 4,562 3,276 2,792 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 2,289 3,513 3,753 1,132 3,088 Public and publicly guaranteed 183 332 1,530 2,289 3,513 3,753 1,132 3,088 Official creditors 59 24 268 505 1,206 351 278 310 Multilateral 4 2 27 8 15 7 8 8 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 5 5 5 6 6 Bilateral 56 22 241 497 1,191 344 270 302 Private creditors 123 308 1,262 1,784 2,307 3,402 854 2,778 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 8 108 1,149 1,654 1,713 3,253 715 2,649 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 100 79 149 257 824 577 443 389 Public and publicly guaranteed 100 79 149 257 824 577 443 389 Official creditors 19 12 36 61 364 162 118 143 Multilateral 2 1 28 4 7 3 4 4 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 2 3 3 2 3 3 Bilateral 16 12 8 57 356 159 114 139 Private creditors 81 67 113 195 460 415 325 246 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 33 93 160 330 352 260 218 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 2,460 -2,353 2,048 3,614 1,583 Net flows on external debt 977 -90 -733 2,591 -2,057 2,105 3,659 1,508 9. Debt restructurings Total amount rescheduled 252 437 0 0 2 21 67 0 Total amount forgiven 0 0 0 122 400 72 18 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,616 1,898 1,993 1,989 1,953 1,927 1,921 1,808 Interest 145 319 363 343 293 235 168 101 Private creditors Principal 2,616 2,497 2,225 1,506 1,042 410 111 110 Interest 242 207 152 99 62 36 23 14 63 ARGENTINA 1. Summary external debt data External debt stocks 62,233 98,465 140,914 124,939 115,863 117,317 118,901 120,183 Long-term external debt 48,676 70,979 107,543 80,586 87,564 98,058 98,924 100,646 Public and publicly guaranteed 46,876 54,913 81,633 54,225 60,754 68,029 68,627 72,923 Private nonguaranteed 1,800 16,066 25,909 26,361 26,811 30,028 30,298 27,723 Use of IMF credit 3,083 6,131 5,056 9,513 0 0 0 0 Short-term external debt 10,473 21,355 28,315 34,841 28,299 19,260 19,977 19,537 interest arrears on long-term 7,590 0 0 7,735 7,452 9,452 10,003 10,665 Memorandum items 4,372 0 0 11,193 12,125 16,157 18,466 19,633 44,707 54,891 81,582 54,205 60,655 67,935 68,538 72,862 3,969 16,088 25,961 26,381 26,909 30,123 30,386 27,785 572 8,381 11,985 2,462 5,747 7,522 4,969 3,375 External debt flows Disbursements 1,587 11,319 20,853 4,690 8,789 9,089 7,037 7,537 Long-term external debt 1,150 8,954 18,759 4,690 8,789 9,089 7,037 7,537 IMF purchases 437 2,365 2,094 0 0 0 0 0 Principal repayments 3,443 3,532 15,679 7,009 14,819 5,171 4,635 8,784 Long-term external debt 2,745 3,048 14,400 3,438 5,026 5,171 4,635 8,784 IMF repurchases 697 484 1,280 3,571 9,793 0 0 0 Net flows -1,856 21,972 4,074 14,787 -12,289 -7,121 2,568 -2,350 Long-term external debt -1,595 5,906 4,359 1,252 3,763 3,918 2,402 -1,248 Short-term external debt 0 14,185 -1,100 17,106 -6,259 -11,039 166 -1,102 Interest payments 2,716 5,322 11,163 2,962 3,979 3,774 3,089 3,343 Long-term external debt 2,208 4,320 9,236 2,108 2,959 2,900 2,849 3,222 IMF charges 277 274 195 510 83 0 0 0 Short-term external debt 231 727 1,732 344 937 874 240 121 2. Other non-debt resource inflows Foreign direct investment 1,836 5,609 10,418 5,265 5,537 6,473 9,726 4,009 Portfolio equity 0 1,552 -3,227 -48 707 1,785 -531 -212 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 36.6 36.6 39.1 36.9 36.0 Japanese yen 6.7 9.2 6.2 2.7 2.5 2.3 2.9 2.7 Pound sterling 1.1 0.2 0.6 0.1 0.1 0.1 0.1 0.1 Swiss franc 2.2 1.6 0.4 0.4 0.4 0.4 0.4 0.4 U.S.dollars 54.5 57.5 61.0 54.4 55.9 54.7 57.0 58.8 4. Average terms of new commitments Official creditors Interest (%) 6.5 6.5 7.2 4.2 5.5 6.1 3.2 1.3 Maturity (years) 19.2 16.3 18.2 17.3 20.3 18.9 18.4 26.3 Grace period (years) 4.0 4.7 4.8 4.6 5.0 4.8 3.6 3.9 Private creditors Interest (%) 6.0 7.4 10.0 5.0 5.7 6.6 6.8 5.4 Maturity (years) 8.4 4.8 11.6 8.4 11.1 13.7 12.8 28.5 Grace period (years) 1.3 4.6 11.6 3.7 6.0 11.5 11.3 19.0 5. Major economic aggregates Gross national income (GNI) 135,150 253,396 276,656 176,575 208,884 257,129 321,257 299,468 Exports of goods, services & income 16,654 29,356 38,697 51,334 60,255 72,969 87,712 70,162 Worker remit. & comp. of employees 23 64 86 432 541 606 698 660 Imports of goods, services & income 13,100 35,070 48,076 46,543 52,947 65,967 80,826 61,571 Profit remittances on FDI 637 2,129 3,086 5,456 7,112 7,283 7,902 8,356 Current account balance 4,552 -5,118 -8,981 5,275 7,768 7,355 7,037 8,635 International reserves 6,222 15,979 25,152 28,082 32,022 46,149 46,385 48,007 6. Ratios External debt stocks to exports (%) 373.7 335.4 364.1 243.4 192.3 160.8 135.6 171.3 External debt stocks to GNI (%) 46.0 38.9 50.9 70.8 55.5 45.6 37.0 40.1 Debt service to exports (%) 37.0 30.2 69.4 19.4 36.2 12.3 8.8 17.3 Short-term to external debt stocks (%) 16.8 21.7 20.1 27.9 24.4 16.4 16.8 16.3 Multilateral to external debt stocks (%) 8.0 9.5 11.5 12.5 12.9 12.7 12.4 13.4 Reserves to external debt stocks (%) 10.0 16.2 17.8 22.5 27.6 39.3 39.0 39.9 Reserves to imports (months) 5.7 5.5 6.3 7.2 7.3 8.4 6.9 9.4 64 ARGENTINA 7. Long-term external debt Debt outstanding and disbursed 48,676 70,979 107,543 80,586 87,564 98,058 98,924 100,646 Public and publicly guaranteed 46,876 54,913 81,633 54,225 60,754 68,029 68,627 72,923 Official creditors 11,226 20,658 20,484 20,344 20,184 20,443 20,574 22,328 Multilateral 5,007 9,373 16,235 15,571 14,984 14,909 14,780 16,156 of which: IBRD 2,609 4,913 8,789 6,881 6,206 5,674 5,069 5,305 IDA 0 0 0 0 0 0 0 0 Bilateral 6,219 11,285 4,249 4,774 5,200 5,535 5,794 6,172 Private creditors 35,650 34,255 61,149 33,881 40,569 47,586 48,052 50,595 of which: Bonds 11,514 32,670 60,622 33,373 40,018 46,589 47,088 49,670 Commercial banks 22,631 793 294 171 201 211 205 208 Private nonguaranteed 1,800 16,066 25,909 26,361 26,811 30,028 30,298 27,723 of which: Bonds 21 7,582 11,138 8,772 10,138 12,073 7,921 6,850 Disbursements 1,150 8,954 18,759 4,690 8,789 9,089 7,037 7,537 Public and publicly guaranteed 1,129 6,604 14,277 3,183 3,893 5,647 4,047 3,591 Official creditors 910 2,804 1,937 989 1,666 2,385 2,022 3,498 Multilateral 736 1,936 1,923 985 1,662 2,373 2,000 3,070 of which: IBRD 405 941 1,019 362 459 505 332 1,028 IDA 0 0 0 0 0 0 0 0 Bilateral 174 868 13 4 4 12 22 429 Private creditors 219 3,800 12,340 2,194 2,227 3,263 2,025 93 of which: Bonds 0 3,630 12,338 2,194 2,227 3,263 2,025 93 Commercial banks 183 105 2 0 0 0 0 0 Private nonguaranteed 21 2,350 4,482 1,507 4,896 3,441 2,990 3,946 of which: Bonds 21 834 1,408 540 2,896 2,241 0 476 Principal repayments 2,745 3,048 14,400 3,438 5,026 5,171 4,635 8,784 Public and publicly guaranteed 2,745 1,783 8,896 1,672 2,539 3,230 2,367 3,070 Official creditors 454 1,356 1,837 1,489 2,362 2,676 2,364 1,783 Multilateral 405 512 825 1,462 2,354 2,568 2,253 1,637 of which: IBRD 233 259 538 928 1,134 1,037 936 793 IDA 0 0 0 0 0 0 0 0 Bilateral 49 844 1,012 27 9 108 111 146 Private creditors 2,292 427 7,059 183 177 554 3 1,287 of which: Bonds 878 128 6,842 182 175 554 3 1,232 Commercial banks 1,342 158 162 0 1 0 0 0 Private nonguaranteed 0 1,265 5,503 1,766 2,487 1,941 2,268 5,714 of which: Bonds 0 631 2,309 680 1,303 606 2,009 450 Interest payments 2,208 4,320 9,236 2,108 2,959 2,900 2,849 3,222 Public and publicly guaranteed 2,064 3,435 7,196 1,392 1,309 1,618 1,644 1,887 Official creditors 456 1,374 1,589 751 842 868 763 656 Multilateral 375 617 1,256 747 838 864 718 581 of which: IBRD 181 306 701 288 346 350 258 169 IDA 0 0 0 0 0 0 0 0 Bilateral 81 757 334 5 4 4 44 76 Private creditors 1,608 2,062 5,606 641 467 750 881 1,231 of which: Bonds 973 1,960 5,465 640 466 750 881 1,195 Commercial banks 621 56 121 0 0 0 0 0 Private nonguaranteed 144 885 2,041 716 1,650 1,282 1,206 1,335 of which: Bonds 0 641 1,109 585 1,135 759 710 562 8. Debt stock-flow reconciliation Total change in external debt stocks -3,024 23,646 570 -37,439 -9,076 1,454 1,584 1,282 Net flows on external debt -1,856 21,972 4,074 14,787 -12,289 -7,121 2,568 -2,350 9. Debt restructurings Total amount rescheduled 932 248 0 20,136 2,096 983 0 0 Total amount forgiven 5,970 863 689 40,333 3 0 0 10 Debt buyback 1,232 0 2,745 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,971 2,165 2,311 1,963 1,929 1,869 1,713 1,499 Interest 535 496 449 400 350 300 253 214 Private creditors Principal 8,490 5,832 4,984 4,219 1,751 4,552 1,949 5,217 Interest 3,726 3,228 3,006 2,711 2,504 2,363 2,016 1,754 Notes: Long-term private nonguaranteed debt data for 2009 are reported by the country for the first time. Historical data are World Bank staff estimates. Short-term debt data are revised from 2007 based on BIS data. Long-term provincial debt data are World Bank staff estimates. 65 ARMENIA 1. Summary external debt data External debt stocks .. 371 916 1,842 2,004 2,898 3,406 4,935 Long-term external debt .. 298 697 1,368 1,533 2,281 2,818 3,837 Public and publicly guaranteed .. 298 675 923 1,037 1,282 1,446 2,376 Private nonguaranteed .. 0 21 446 496 999 1,373 1,461 Use of IMF credit .. 70 175 176 164 158 135 587 Short-term external debt .. 2 44 298 307 459 453 512 interest arrears on long-term .. 1 6 0 0 0 0 0 Memorandum items .. 75 4 0 0 0 0 0 .. 298 675 923 1,037 1,282 1,446 2,376 .. 0 21 446 496 999 1,373 1,461 .. 131 74 251 65 203 201 898 External debt flows Disbursements .. 148 84 177 175 761 783 1,732 Long-term external debt .. 102 84 168 165 751 776 1,266 IMF purchases .. 46 0 10 10 10 7 466 Principal repayments .. 3 31 104 80 82 280 328 Long-term external debt .. 3 15 69 49 58 253 305 IMF repurchases .. 0 16 34 31 24 27 23 Net flows .. 147 42 -38 104 831 497 1,462 Long-term external debt .. 100 69 98 116 693 523 961 Short-term external debt .. 1 -11 -112 9 152 -6 59 Interest payments .. 8 15 35 70 107 85 102 Long-term external debt .. 7 9 23 59 91 70 81 IMF charges .. 2 3 1 1 1 1 4 Short-term external debt .. 0 2 11 11 15 15 18 2. Other non-debt resource inflows Foreign direct investment .. 25 104 239 453 699 935 777 Portfolio equity .. .. 0 1 -1 0 -1 1 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.0 8.8 9.0 8.7 6.3 Japanese yen .. 0.0 0.0 0.2 0.4 7.0 12.1 11.3 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 62.6 93.3 86.3 82.6 71.2 62.9 66.0 4. Average terms of new commitments Official creditors Interest (%) .. 1.3 0.8 0.8 0.8 1.5 1.2 2.9 Maturity (years) .. 32.6 35.7 39.6 32.2 24.4 32.1 19.7 Grace period (years) .. 9.2 10.2 10.0 10.3 8.7 8.8 5.9 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,466 1,964 5,033 6,600 9,485 12,388 8,926 Exports of goods, services & income .. 354 551 1,873 2,134 2,588 2,751 2,056 Worker remit. & comp. of employees .. 65 87 498 658 846 1,062 769 Imports of goods, services & income .. 741 1,017 2,449 2,946 4,122 5,272 4,189 Profit remittances on FDI .. .. 22 170 244 332 279 332 Current account balance .. -218 -278 -52 -117 -590 -1,383 -1,326 International reserves .. 111 314 669 1,072 1,659 1,407 2,004 6. Ratios External debt stocks to exports (%) .. 104.7 166.4 98.3 93.9 112.0 123.8 240.0 External debt stocks to GNI (%) .. 25.3 46.6 36.6 30.4 30.6 27.5 55.3 Debt service to exports (%) .. 3.2 8.3 7.4 7.0 7.3 13.3 20.9 Short-term to external debt stocks (%) .. 0.6 4.8 16.2 15.3 15.8 13.3 10.4 Multilateral to external debt stocks (%) .. 56.1 52.9 43.9 45.1 35.9 32.6 28.9 Reserves to external debt stocks (%) .. 30.0 34.3 36.3 53.5 57.2 41.3 40.6 Reserves to imports (months) .. 1.8 3.7 3.3 4.4 4.8 3.2 5.7 66 ARMENIA 7. Long-term external debt Debt outstanding and disbursed .. 298 697 1,368 1,533 2,281 2,818 3,837 Public and publicly guaranteed .. 298 675 923 1,037 1,282 1,446 2,376 Official creditors .. 298 658 921 1,036 1,281 1,444 2,375 Multilateral .. 208 485 808 905 1,041 1,111 1,427 of which: IBRD .. 5 8 6 6 5 5 53 IDA .. 91 388 746 841 965 1,025 1,161 Bilateral .. 90 173 113 131 240 333 948 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 21 446 496 999 1,373 1,461 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 102 84 168 165 751 776 1,266 Public and publicly guaranteed .. 102 63 50 83 207 164 941 Official creditors .. 102 62 50 83 207 164 941 Multilateral .. 102 58 37 72 110 92 324 of which: IBRD .. 3 0 0 0 0 0 49 IDA .. 88 54 34 64 93 80 142 Bilateral .. 0 4 14 11 97 72 617 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 21 117 82 544 612 325 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 3 15 69 49 58 253 305 Public and publicly guaranteed .. 3 15 16 17 17 15 21 Official creditors .. 3 13 16 17 17 15 21 Multilateral .. 0 8 14 15 15 13 15 of which: IBRD .. 0 0 1 1 1 1 1 IDA .. 0 0 3 6 7 11 14 Bilateral .. 3 5 2 2 2 2 6 Private creditors .. 0 2 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 53 32 42 238 284 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 7 9 23 59 91 70 81 Public and publicly guaranteed .. 7 9 9 9 10 11 23 Official creditors .. 7 9 9 9 10 11 23 Multilateral .. 7 8 8 8 8 9 9 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 3 6 6 7 8 8 Bilateral .. 0 1 2 2 2 2 14 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 14 49 81 58 58 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 156 15 -127 162 894 508 1,530 Net flows on external debt .. 147 42 -38 104 831 497 1,462 9. Debt restructurings Total amount rescheduled .. 0 14 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 25 28 30 75 91 95 104 119 Interest 35 36 36 36 34 32 30 29 Private creditors Principal 368 290 257 150 119 88 74 58 Interest 63 47 32 23 16 11 7 4 Notes: Short-term debt is based on reports provided by the country. 67 AZERBAIJAN 1. Summary external debt data External debt stocks .. 321 1,328 2,043 2,586 3,593 4,315 4,865 Long-term external debt .. 206 836 1,693 1,932 2,447 3,066 3,993 Public and publicly guaranteed .. 206 737 1,506 1,828 2,304 2,739 3,403 Private nonguaranteed .. 0 99 187 104 143 327 590 Use of IMF credit .. 101 336 164 134 103 79 62 Short-term external debt .. 14 156 186 520 1,043 1,169 810 interest arrears on long-term .. 6 0 0 0 0 0 0 Memorandum items .. 36 0 0 0 0 0 0 .. 206 737 1,506 1,828 2,304 2,739 3,403 .. 0 99 187 104 143 327 590 .. 188 202 1,387 412 723 1,928 1,368 External debt flows Disbursements .. 205 256 449 468 490 727 985 Long-term external debt .. 102 256 430 468 490 727 985 IMF purchases .. 103 0 19 0 0 0 0 Principal repayments .. 0 74 198 215 114 180 308 Long-term external debt .. 0 22 150 178 77 159 290 IMF repurchases .. 0 51 48 37 37 22 19 Net flows .. 207 309 300 587 899 673 318 Long-term external debt .. 102 234 281 290 413 568 696 Short-term external debt .. 2 127 48 334 523 126 -359 Interest payments .. 10 56 36 55 88 112 89 Long-term external debt .. 9 37 27 39 69 79 70 IMF charges .. 1 14 2 2 1 1 0 Short-term external debt .. 0 5 6 15 18 33 19 2. Other non-debt resource inflows Foreign direct investment .. 330 130 1,680 -584 -4,749 15 473 Portfolio equity .. .. .. 0 1 2 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.6 18.6 21.6 20.7 26.5 Japanese yen .. 0.0 20.8 24.8 19.8 16.6 17.3 12.5 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 6.5 4.1 3.1 2.4 2.1 1.5 U.S.dollars .. 51.4 65.8 54.1 52.5 51.8 51.8 51.6 4. Average terms of new commitments Official creditors Interest (%) .. 1.4 4.3 2.3 4.5 5.2 3.0 1.6 Maturity (years) .. 32.2 22.6 28.8 24.7 20.1 21.5 25.2 Grace period (years) .. 9.4 4.7 7.7 8.0 4.2 4.8 6.6 Private creditors Interest (%) .. 0.0 8.2 3.5 6.0 6.6 4.8 4.3 Maturity (years) .. 0.0 9.7 13.3 12.0 9.8 13.0 15.2 Grace period (years) .. 0.0 1.1 3.0 0.5 1.3 5.0 4.0 5. Major economic aggregates Gross national income (GNI) .. 3,039 4,987 11,599 18,302 27,970 40,992 40,255 Exports of goods, services & income .. 795 2,174 8,534 14,235 22,845 32,728 23,398 Worker remit. & comp. of employees .. 3 57 693 813 1,287 1,554 1,274 Imports of goods, services & income .. 1,306 2,415 8,850 11,093 14,831 17,325 13,942 Profit remittances on FDI .. 0 317 1,582 2,624 4,995 5,401 3,664 Current account balance .. -401 -168 167 3,708 9,019 16,454 10,178 International reserves .. 121 680 1,178 2,500 4,273 6,467 5,364 6. Ratios External debt stocks to exports (%) .. 40.4 61.1 23.9 18.2 15.7 13.2 20.8 External debt stocks to GNI (%) .. 10.6 26.6 17.6 14.1 12.8 10.5 12.1 Debt service to exports (%) .. 1.3 6.0 2.7 1.9 0.9 0.9 1.7 Short-term to external debt stocks (%) .. 4.4 11.8 9.1 20.1 29.0 27.1 16.6 Multilateral to external debt stocks (%) .. 30.8 24.3 30.8 28.4 26.8 26.4 30.0 Reserves to external debt stocks (%) .. 37.7 51.2 57.7 96.7 118.9 149.9 110.3 Reserves to imports (months) .. 1.1 3.4 1.6 2.7 3.5 4.5 4.6 68 AZERBAIJAN 7. Long-term external debt Debt outstanding and disbursed .. 206 836 1,693 1,932 2,447 3,066 3,993 Public and publicly guaranteed .. 206 737 1,506 1,828 2,304 2,739 3,403 Official creditors .. 206 647 1,217 1,355 1,594 1,892 2,191 Multilateral .. 99 323 630 735 963 1,140 1,462 of which: IBRD .. 0 0 0 5 21 78 199 IDA .. 30 216 501 583 660 698 739 Bilateral .. 107 324 587 620 631 752 730 Private creditors .. 0 90 289 473 710 848 1,212 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 65 289 419 570 652 968 Private nonguaranteed .. 0 99 187 104 143 327 590 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 102 256 430 468 490 727 985 Public and publicly guaranteed .. 102 250 306 443 443 512 845 Official creditors .. 102 209 70 266 233 283 431 Multilateral .. 90 56 57 211 219 213 367 of which: IBRD .. 0 0 0 5 16 56 122 IDA .. 30 27 48 60 58 50 45 Bilateral .. 13 153 13 55 14 70 64 Private creditors .. 0 41 236 177 210 228 414 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 38 236 121 119 167 346 Private nonguaranteed .. 0 6 124 25 47 216 140 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 22 150 178 77 159 290 Public and publicly guaranteed .. 0 15 53 62 66 136 214 Official creditors .. 0 13 36 43 50 70 135 Multilateral .. 0 9 18 17 21 29 54 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 2 4 6 8 9 Bilateral .. 0 4 19 26 29 41 81 Private creditors .. 0 2 16 19 16 66 78 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 16 17 13 59 59 Private nonguaranteed .. 0 7 97 116 11 23 76 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 9 37 27 39 69 79 70 Public and publicly guaranteed .. 9 32 20 32 62 67 52 Official creditors .. 9 31 16 18 35 29 31 Multilateral .. 2 7 9 11 26 21 22 of which: IBRD .. 0 0 0 1 1 3 5 IDA .. 0 2 4 4 5 5 5 Bilateral .. 7 24 7 7 9 9 9 Private creditors .. 0 1 4 14 27 38 21 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 4 13 24 35 15 Private nonguaranteed .. 0 5 7 7 7 11 18 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 208 255 94 543 1,007 721 550 Net flows on external debt .. 207 309 300 587 899 673 318 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 133 130 194 209 233 245 284 285 Interest 34 40 44 46 47 46 45 42 Private creditors Principal 243 256 220 212 228 213 185 158 Interest 48 42 35 29 24 19 14 10 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. 69 BANGLADESH 1. Summary external debt data External debt stocks 12,285 15,726 15,535 18,381 20,032 21,296 22,886 23,820 Long-term external debt 11,504 14,905 14,985 17,385 18,378 19,426 20,307 21,206 Public and publicly guaranteed 11,504 14,905 14,985 17,385 18,378 19,426 20,307 21,206 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 626 622 216 308 476 501 686 675 Short-term external debt 156 199 334 688 1,178 1,370 1,894 1,939 interest arrears on long-term 1 15 0 16 0 4 1 0 Memorandum items 11 13 4 1 3 53 10 7 11,504 14,905 14,985 17,385 18,378 19,426 20,307 21,206 0 0 0 0 0 0 0 0 1,231 716 588 1,106 1,322 1,997 2,751 1,796 External debt flows Disbursements 1,264 757 861 976 1,211 1,080 1,939 1,499 Long-term external debt 1,203 757 861 878 1,061 1,080 1,732 1,499 IMF purchases 60 0 0 97 150 0 206 0 Principal repayments 539 574 572 566 482 735 640 729 Long-term external debt 335 513 487 566 482 735 632 705 IMF repurchases 204 61 86 0 0 0 8 23 Net flows 812 182 368 370 1,235 532 1,826 817 Long-term external debt 868 244 374 312 579 344 1,100 794 Short-term external debt 88 -1 80 -40 506 188 527 46 Interest payments 196 180 194 233 228 255 249 228 Long-term external debt 146 167 165 197 167 180 203 197 IMF charges 40 3 7 1 2 2 7 6 Short-term external debt 9 10 22 35 59 72 39 25 2. Other non-debt resource inflows Foreign direct investment 3 2 280 813 697 653 1,010 674 Portfolio equity 0 -15 1 20 31 153 -48 -154 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.7 0.8 0.9 0.7 0.6 Japanese yen 24.2 25.6 20.3 14.2 12.5 10.4 10.0 9.0 Pound sterling 5.1 3.5 3.0 2.1 1.9 1.7 1.5 1.4 Swiss franc 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 48.3 41.7 44.3 50.7 52.3 51.9 52.4 53.5 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.9 2.4 1.5 2.0 2.1 1.2 2.0 Maturity (years) 37.6 38.2 28.4 35.2 33.6 32.4 37.6 25.4 Grace period (years) 10.2 10.0 7.4 9.2 8.7 8.2 9.5 7.3 Private creditors Interest (%) 5.8 0.0 3.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 11.8 0.0 12.7 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.4 0.0 3.2 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 30,757 39,097 48,828 63,397 65,950 73,526 86,604 99,391 Exports of goods, services & income 2,128 4,702 7,293 10,668 13,065 14,335 17,690 17,060 Worker remit. & comp. of employees 779 1,202 1,968 4,315 5,428 6,562 8,941 10,523 Imports of goods, services & income 4,140 7,790 10,018 15,618 17,802 20,766 26,382 24,590 Profit remittances on FDI 0 0 149 661 765 903 840 1,084 Current account balance -398 -824 -306 -176 1,196 857 926 3,345 International reserves 660 2,376 1,516 2,825 3,877 5,277 5,787 10,342 6. Ratios External debt stocks to exports (%) 577.3 334.5 213.0 172.3 153.3 148.6 129.4 139.6 External debt stocks to GNI (%) 39.9 40.2 31.8 29.0 30.4 29.0 26.4 24.0 Debt service to exports (%) 34.6 16.1 10.5 7.5 5.4 6.9 5.0 5.6 Short-term to external debt stocks (%) 1.3 1.3 2.2 3.7 5.9 6.4 8.3 8.1 Multilateral to external debt stocks (%) 52.4 61.5 70.8 76.4 74.6 76.6 75.6 77.1 Reserves to external debt stocks (%) 5.4 15.1 9.8 15.4 19.4 24.8 25.3 43.4 Reserves to imports (months) 1.9 3.7 1.8 2.2 2.6 3.0 2.6 5.0 70 BANGLADESH 7. Long-term external debt Debt outstanding and disbursed 11,504 14,905 14,985 17,385 18,378 19,426 20,307 21,206 Public and publicly guaranteed 11,504 14,905 14,985 17,385 18,378 19,426 20,307 21,206 Official creditors 11,281 14,727 14,809 17,201 18,215 19,278 20,209 21,122 Multilateral 6,434 9,669 10,998 14,044 14,947 16,315 17,296 18,376 of which: IBRD 64 55 24 0 0 0 0 0 IDA 4,095 5,638 6,431 8,688 9,297 10,077 10,613 10,746 Bilateral 4,847 5,057 3,810 3,157 3,268 2,963 2,914 2,746 Private creditors 223 179 176 184 163 148 98 84 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 21 12 15 32 30 26 18 15 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,203 757 861 878 1,061 1,080 1,732 1,499 Public and publicly guaranteed 1,203 757 861 878 1,061 1,080 1,732 1,499 Official creditors 1,114 677 794 878 1,061 1,080 1,706 1,499 Multilateral 819 494 650 814 742 1,008 1,451 1,430 of which: IBRD 0 0 0 0 0 0 0 0 IDA 464 198 357 547 398 602 820 297 Bilateral 295 183 145 64 319 71 255 69 Private creditors 90 79 67 0 0 0 27 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 22 0 15 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 335 513 487 566 482 735 632 705 Public and publicly guaranteed 335 513 487 566 482 735 632 705 Official creditors 301 414 465 551 459 719 612 692 Multilateral 62 104 168 290 328 383 434 477 of which: IBRD 2 5 5 0 0 0 0 0 IDA 13 41 82 153 172 193 213 234 Bilateral 240 310 297 260 131 335 178 215 Private creditors 34 99 22 16 24 17 20 13 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 2 0 5 5 5 5 3 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 146 167 165 197 167 180 203 197 Public and publicly guaranteed 146 167 165 197 167 180 203 197 Official creditors 135 162 156 195 166 178 200 195 Multilateral 51 87 93 133 137 144 161 157 of which: IBRD 4 4 2 0 0 0 0 0 IDA 28 42 47 70 70 72 77 79 Bilateral 84 75 63 62 29 34 38 38 Private creditors 11 5 9 2 2 2 3 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 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 1,587 244 -845 -1,205 1,651 1,264 1,590 934 Net flows on external debt 812 182 368 370 1,235 532 1,826 817 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 764 775 822 1,109 1,140 927 978 1,024 Interest 236 242 244 240 229 218 214 207 Private creditors Principal 26 22 19 14 14 2 2 2 Interest 3 3 2 1 1 0 0 0 Notes: Historical data on long-term public and publicly guaranteed debt up to 2008 are revised based on reports provided by the country. 71 BELARUS 1. Summary external debt data External debt stocks .. 1,694 2,140 4,737 5,352 10,341 12,299 17,158 Long-term external debt .. 1,302 787 1,233 1,697 3,463 5,340 6,262 Public and publicly guaranteed .. 1,301 689 786 842 2,338 3,752 4,758 Private nonguaranteed .. 0 98 448 855 1,125 1,589 1,504 Use of IMF credit .. 283 114 0 0 0 0 2,871 Short-term external debt .. 110 1,239 3,503 3,654 6,878 6,959 8,024 interest arrears on long-term .. 19 14 1 4 2 2 3 Memorandum items .. 140 29 37 22 10 4 19 .. 1,301 689 777 837 2,336 3,752 4,758 .. 0 98 456 860 1,127 1,589 1,504 .. 145 136 412 174 1,639 1,961 1,492 External debt flows Disbursements .. 441 249 648 747 2,532 2,709 4,917 Long-term external debt .. 258 249 648 747 2,532 2,709 2,091 IMF purchases .. 182 0 0 0 0 0 2,825 Principal repayments .. 108 261 519 483 757 826 935 Long-term external debt .. 108 206 510 483 757 826 935 IMF repurchases .. 0 56 9 0 0 0 0 Net flows .. 369 -89 695 412 5,000 1,965 5,046 Long-term external debt .. 150 43 138 264 1,775 1,883 1,157 Short-term external debt .. 36 -76 566 148 3,225 82 1,064 Interest payments .. 74 107 161 250 322 349 313 Long-term external debt .. 59 39 51 72 81 232 172 IMF charges .. 10 7 0 0 0 0 13 Short-term external debt .. 4 61 111 178 241 117 128 2. Other non-debt resource inflows Foreign direct investment .. 15 119 305 354 1,785 2,181 1,884 Portfolio equity .. .. 1 1 -1 5 1 1 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 14.4 26.0 9.9 4.1 7.8 Japanese yen .. 2.3 2.2 1.1 0.7 0.1 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.7 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 50.8 48.9 71.8 61.1 85.5 93.4 89.3 4. Average terms of new commitments Official creditors Interest (%) .. 5.1 6.8 5.0 5.9 4.6 6.1 4.2 Maturity (years) .. 16.0 5.9 7.6 16.9 14.9 12.1 13.4 Grace period (years) .. 5.6 2.4 1.4 5.4 5.4 4.2 4.7 Private creditors Interest (%) .. 8.1 7.2 8.9 7.2 4.8 0.0 3.2 Maturity (years) .. 5.8 2.5 1.1 2.3 3.0 0.0 9.0 Grace period (years) .. 1.6 1.0 1.1 1.3 1.0 0.0 2.3 5. Major economic aggregates Gross national income (GNI) .. 13,922 12,690 30,220 36,841 44,870 59,974 48,249 Exports of goods, services & income .. 5,271 7,667 18,350 22,482 27,901 37,388 25,070 Worker remit. & comp. of employees .. 29 139 255 340 354 443 352 Imports of goods, services & income .. 5,805 8,160 18,079 24,134 31,124 42,844 31,729 Profit remittances on FDI .. .. 5 135 236 435 682 871 Current account balance .. -458 -338 436 -1,448 -3,032 -5,262 -6,402 International reserves .. 377 350 1,342 1,386 4,179 3,063 5,640 6. Ratios External debt stocks to exports (%) .. 32.1 27.9 25.8 23.8 37.1 32.9 68.4 External debt stocks to GNI (%) .. 12.2 16.9 15.7 14.5 23.0 20.5 35.6 Debt service to exports (%) .. 3.4 4.8 3.7 3.3 3.9 3.1 5.0 Short-term to external debt stocks (%) .. 6.5 57.9 74.0 68.3 66.5 56.6 46.8 Multilateral to external debt stocks (%) .. 11.1 10.1 1.7 1.2 0.5 0.4 1.5 Reserves to external debt stocks (%) .. 22.3 16.4 28.3 25.9 40.4 24.9 32.9 Reserves to imports (months) .. 0.8 0.5 0.9 0.7 1.6 0.9 2.1 72 BELARUS 7. Long-term external debt Debt outstanding and disbursed .. 1,302 787 1,233 1,697 3,463 5,340 6,262 Public and publicly guaranteed .. 1,301 689 786 842 2,338 3,752 4,758 Official creditors .. 769 400 566 571 2,076 3,580 4,629 Multilateral .. 188 217 81 65 52 50 261 of which: IBRD .. 116 105 59 50 42 42 256 IDA .. 0 0 0 0 0 0 0 Bilateral .. 582 183 485 506 2,023 3,529 4,368 Private creditors .. 532 289 219 271 262 172 128 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 46 56 57 102 107 68 46 Private nonguaranteed .. 0 98 448 855 1,125 1,589 1,504 of which: Bonds .. 0 0 0 0 19 19 19 Disbursements .. 258 249 648 747 2,532 2,709 2,091 Public and publicly guaranteed .. 258 143 254 207 1,717 1,568 1,265 Official creditors .. 131 25 188 74 1,596 1,563 1,254 Multilateral .. 77 25 7 5 7 16 216 of which: IBRD .. 11 6 7 5 7 16 216 IDA .. 0 0 0 0 0 0 0 Bilateral .. 54 0 181 69 1,589 1,547 1,038 Private creditors .. 127 118 66 133 121 5 11 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 20 48 34 83 96 0 10 Private nonguaranteed .. 0 106 395 540 815 1,141 826 of which: Bonds .. 0 0 0 0 19 0 0 Principal repayments .. 108 206 510 483 757 826 935 Public and publicly guaranteed .. 108 134 177 171 253 151 126 Official creditors .. 84 52 94 73 98 64 67 Multilateral .. 70 49 42 23 21 19 5 of which: IBRD .. 0 14 16 15 16 17 3 IDA .. 0 0 0 0 0 0 0 Bilateral .. 15 4 52 50 77 45 62 Private creditors .. 24 82 83 98 155 86 59 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 28 12 42 101 35 33 Private nonguaranteed .. 0 71 333 311 505 675 809 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 59 39 51 72 81 232 172 Public and publicly guaranteed .. 59 38 39 45 49 176 105 Official creditors .. 32 18 17 28 30 159 97 Multilateral .. 23 17 5 4 4 3 2 of which: IBRD .. 8 6 3 3 3 2 2 IDA .. 0 0 0 0 0 0 0 Bilateral .. 10 2 12 24 26 156 94 Private creditors .. 26 19 22 16 19 17 8 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 1 4 4 6 8 8 4 Private nonguaranteed .. 0 1 12 27 33 56 67 of which: Bonds .. 0 0 0 0 1 2 2 8. Debt stock-flow reconciliation Total change in external debt stocks .. 398 -122 708 615 4,989 1,958 4,859 Net flows on external debt .. 369 -89 695 412 5,000 1,965 5,046 9. Debt restructurings Total amount rescheduled .. 0 50 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 15 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 91 154 273 437 580 556 464 474 Interest 120 164 156 139 119 96 76 62 Private creditors Principal 454 331 298 188 148 108 74 60 Interest 70 52 36 26 18 12 8 4 Notes: Short-term debt is based on reports provided by the National Bank. 73 BELIZE 1. Summary external debt data External debt stocks 143 255 612 1,012 1,036 1,085 1,071 1,092 Long-term external debt 136 219 562 1,006 1,029 1,078 1,064 1,076 Public and publicly guaranteed 136 219 553 981 1,009 1,064 1,048 1,063 Private nonguaranteed 0 0 8 25 20 14 16 14 Use of IMF credit 0 0 0 0 0 0 0 7 Short-term external debt 6 36 50 6 7 6 7 8 interest arrears on long-term 1 1 0 6 7 6 7 8 Memorandum items 2 1 0 2 0 1 1 1 136 219 553 981 1,009 1,052 1,038 1,054 0 0 8 25 20 26 26 23 5 29 224 199 106 591 16 90 External debt flows Disbursements 18 31 223 212 99 615 43 72 Long-term external debt 18 31 223 212 99 615 43 64 IMF purchases 0 0 0 0 0 0 0 7 Principal repayments 12 25 41 160 77 567 56 52 Long-term external debt 9 25 41 160 77 567 56 52 IMF repurchases 3 0 0 0 0 0 0 0 Net flows 7 27 181 53 23 48 -13 19 Long-term external debt 9 6 182 53 23 48 -13 12 Short-term external debt 1 21 -1 0 0 0 0 0 Interest payments 6 11 35 73 64 64 51 47 Long-term external debt 6 10 32 73 64 64 51 47 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 0 1 3 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 17 21 23 127 109 140 191 95 Portfolio equity 0 0 0 0 4 0 2 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.3 1.4 1.3 0.8 0.8 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 23.6 10.0 1.8 0.4 0.4 0.2 0.1 0.1 Swiss franc 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 45.3 62.7 93.2 96.7 96.9 97.2 97.8 98.0 4. Average terms of new commitments Official creditors Interest (%) 5.0 5.9 6.3 0.0 2.9 5.3 4.1 1.9 Maturity (years) 10.0 17.9 21.1 28.4 10.5 22.3 23.4 22.2 Grace period (years) 2.5 3.9 5.3 1.0 2.4 5.6 5.6 4.6 Private creditors Interest (%) 0.0 8.6 9.5 4.7 0.0 4.2 4.3 0.0 Maturity (years) 0.0 4.8 8.1 7.1 0.0 21.9 22.0 0.0 Grace period (years) 0.0 0.3 3.0 1.6 0.0 12.2 12.5 0.0 5. Major economic aggregates Gross national income (GNI) 406 599 775 1,000 1,088 1,118 1,197 .. Exports of goods, services & income 255 300 441 634 800 831 872 731 Worker remit. & comp. of employees 18 14 26 46 65 75 78 80 Imports of goods, services & income 269 351 661 836 899 976 1,116 905 Profit remittances on FDI 7 8 31 35 52 87 94 66 Current account balance 15 -17 -162 -151 -25 -52 -132 -94 International reserves 70 38 123 71 114 109 166 214 6. Ratios External debt stocks to exports (%) 55.9 85.0 138.6 159.6 129.5 130.6 122.7 149.3 External debt stocks to GNI (%) 35.1 42.6 78.9 101.1 95.2 97.0 89.4 .. Debt service to exports (%) 7.2 12.2 17.3 36.7 17.6 76.0 12.3 13.6 Short-term to external debt stocks (%) 4.3 14.0 8.2 0.6 0.6 0.6 0.6 0.7 Multilateral to external debt stocks (%) 40.2 35.1 22.2 21.4 21.2 21.7 21.1 22.5 Reserves to external debt stocks (%) 48.9 14.7 20.1 7.1 11.0 10.0 15.5 19.6 Reserves to imports (months) 3.1 1.3 2.2 1.0 1.5 1.3 1.8 2.8 74 BELIZE 7. Long-term external debt Debt outstanding and disbursed 136 219 562 1,006 1,029 1,078 1,064 1,076 Public and publicly guaranteed 136 219 553 981 1,009 1,064 1,048 1,063 Official creditors 118 175 225 340 407 383 381 407 Multilateral 57 89 136 216 219 236 226 245 of which: IBRD 18 30 40 35 30 25 21 16 IDA 0 0 0 0 0 0 0 0 Bilateral 61 86 89 124 188 148 156 162 Private creditors 18 44 328 641 602 681 667 655 of which: Bonds 0 0 75 482 466 24 22 21 Commercial banks 16 39 245 149 129 652 642 634 Private nonguaranteed 0 0 8 25 20 14 16 14 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 18 31 223 212 99 615 43 64 Public and publicly guaranteed 18 31 218 212 99 615 43 64 Official creditors 13 26 26 48 97 63 41 63 Multilateral 6 12 22 14 17 36 18 34 of which: IBRD 3 6 2 1 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 7 13 4 34 80 26 24 30 Private creditors 5 5 192 165 3 552 2 1 of which: Bonds 0 0 86 143 0 0 0 0 Commercial banks 5 5 96 12 3 552 2 1 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 41 160 77 567 56 52 Public and publicly guaranteed 9 25 41 158 72 561 52 50 Official creditors 7 18 20 23 30 87 36 37 Multilateral 3 7 9 17 15 21 21 15 of which: IBRD 1 2 4 4 5 5 5 4 IDA 0 0 0 0 0 0 0 0 Bilateral 4 11 11 6 15 66 16 23 Private creditors 2 8 22 135 41 474 16 13 of which: Bonds 0 0 11 36 16 441 2 1 Commercial banks 2 5 9 98 22 30 11 9 Private nonguaranteed 0 0 0 2 5 6 4 2 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 6 10 32 73 64 64 51 47 Public and publicly guaranteed 6 10 32 72 64 63 50 47 Official creditors 4 8 12 15 17 18 17 14 Multilateral 3 4 7 9 10 11 10 8 of which: IBRD 1 2 3 2 2 2 1 1 IDA 0 0 0 0 0 0 0 0 Bilateral 1 4 4 5 7 8 7 7 Private creditors 1 2 20 58 47 45 33 33 of which: Bonds 0 0 1 41 36 23 2 2 Commercial banks 1 2 18 16 10 21 31 30 Private nonguaranteed 0 0 0 1 1 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 6 56 220 49 24 49 -14 21 Net flows on external debt 7 27 181 53 23 48 -13 19 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 7 0 Total amount forgiven 9 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 32 28 28 27 29 29 39 28 Interest 13 12 12 11 10 9 8 7 Private creditors Principal 37 12 31 9 9 9 5 5 Interest 31 29 27 26 25 24 24 23 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. 75 BENIN 1. Summary external debt data External debt stocks 1,122 1,398 1,390 1,539 642 766 918 1,073 Long-term external debt 1,048 1,267 1,239 1,446 599 757 857 990 Public and publicly guaranteed 1,048 1,267 1,239 1,446 599 757 857 990 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 18 84 84 53 3 4 22 39 Short-term external debt 56 47 66 41 41 5 38 45 interest arrears on long-term 21 8 1 2 2 5 5 33 Memorandum items 69 71 2 6 8 9 13 36 1,048 1,267 1,239 1,446 599 757 857 990 0 0 0 0 0 0 0 0 85 113 140 266 91 228 147 232 External debt flows Disbursements 120 104 48 98 162 160 162 166 Long-term external debt 120 90 39 97 161 158 143 150 IMF purchases 0 14 9 1 1 1 19 16 Principal repayments 20 25 53 31 27 18 17 25 Long-term external debt 18 23 43 24 27 18 17 25 IMF repurchases 2 2 11 7 0 0 0 0 Net flows 91 95 -54 82 135 102 178 120 Long-term external debt 101 67 -4 73 134 140 127 125 Short-term external debt -8 16 -48 15 0 -39 33 -21 Interest payments 17 23 21 16 14 11 42 12 Long-term external debt 13 21 16 14 12 10 41 12 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 4 2 4 2 2 1 0 0 2. Other non-debt resource inflows Foreign direct investment 62 13 60 53 53 255 174 93 Portfolio equity 0 0 0 2 0 5 .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.4 4.9 3.8 3.2 5.3 Japanese yen 0.0 0.0 2.6 0.0 0.0 0.0 0.0 0.0 Pound sterling 1.0 0.5 0.3 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 40.3 45.1 54.8 50.7 27.2 27.9 24.3 21.5 4. Average terms of new commitments Official creditors Interest (%) 1.3 1.7 1.9 1.3 1.2 1.5 1.5 1.3 Maturity (years) 39.2 32.4 32.7 30.4 32.6 32.5 30.1 36.8 Grace period (years) 8.4 8.9 8.3 9.3 8.3 8.4 8.0 8.9 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,806 1,965 2,243 4,259 4,623 5,428 6,672 6,646 Exports of goods, services & income 376 638 552 797 976 1,385 .. .. Worker remit. & comp. of employees 101 100 87 173 224 282 271 267 Imports of goods, services & income 492 926 744 1,188 1,452 2,189 1,928 .. Profit remittances on FDI 0 6 1 9 15 53 .. .. Current account balance -18 -167 -81 -226 -217 -535 .. .. International reserves 69 198 458 657 912 1,209 1,263 1,230 6. Ratios External debt stocks to exports (%) 298.2 219.3 251.8 193.1 65.8 55.3 .. .. External debt stocks to GNI (%) 62.1 71.2 62.0 36.1 13.9 14.1 13.8 16.1 Debt service to exports (%) 9.9 7.5 13.5 5.9 4.2 2.1 .. .. Short-term to external debt stocks (%) 5.0 3.4 4.8 2.7 6.4 0.6 4.2 4.2 Multilateral to external debt stocks (%) 51.4 63.1 69.7 88.1 72.0 77.9 75.4 74.7 Reserves to external debt stocks (%) 6.2 14.2 33.0 42.7 142.0 157.9 137.7 114.6 Reserves to imports (months) 1.7 2.6 7.4 6.6 7.5 6.6 7.9 .. 76 BENIN 7. Long-term external debt Debt outstanding and disbursed 1,048 1,267 1,239 1,446 599 757 857 990 Public and publicly guaranteed 1,048 1,267 1,239 1,446 599 757 857 990 Official creditors 1,031 1,263 1,237 1,446 599 757 857 990 Multilateral 576 882 969 1,356 463 597 692 801 of which: IBRD 0 0 0 0 0 0 0 0 IDA 326 498 578 771 126 176 255 309 Bilateral 455 381 267 89 136 160 165 188 Private creditors 17 4 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 Disbursements 120 90 39 97 161 158 143 150 Public and publicly guaranteed 120 90 39 97 161 158 143 150 Official creditors 120 90 39 97 161 158 143 150 Multilateral 90 80 27 92 85 138 138 117 of which: IBRD 0 0 0 0 0 0 0 0 IDA 56 31 36 49 32 43 84 51 Bilateral 29 10 12 4 75 21 5 33 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 18 23 43 24 27 18 17 25 Public and publicly guaranteed 18 23 43 24 27 18 17 25 Official creditors 18 23 43 20 27 18 17 25 Multilateral 18 16 14 20 21 17 14 17 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 3 4 6 3 0 0 0 Bilateral 0 7 28 1 6 2 3 8 Private creditors 0 0 0 4 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 13 21 16 14 12 10 41 12 Public and publicly guaranteed 13 21 16 14 12 10 41 12 Official creditors 13 21 16 14 12 10 41 12 Multilateral 12 8 11 13 12 10 24 10 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 4 4 6 4 1 2 2 Bilateral 1 12 5 1 1 1 17 2 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 50 14 -88 -60 -897 123 152 156 Net flows on external debt 91 95 -54 82 135 102 178 120 9. Debt restructurings Total amount rescheduled 12 5 53 0 0 0 0 0 Total amount forgiven 125 139 7 15 1,076 0 6 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 43 46 50 56 58 60 57 55 Interest 14 15 16 16 16 15 14 13 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Historical data on long-term public and publicly guaranteed debt up to 2008 are revised based on reports provided by the country. Benin was granted debt relief effective in 2006 under MDRI. 77 BHUTAN 1. Summary external debt data External debt stocks 83.5 105.8 203.8 649.2 713.3 775.0 692.4 762.4 Long-term external debt 80.3 105.2 202.2 636.7 697.3 775.0 692.4 762.4 Public and publicly guaranteed 80.3 105.2 202.2 636.7 697.3 775.0 692.4 762.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 3.3 0.6 1.5 12.5 16.0 0.0 0.0 0.0 interest arrears on long-term 0.3 0.6 0.0 4.5 0.0 0.0 0.0 0.0 Memorandum items 1.5 0.2 0.0 4.1 0.0 0.0 0.0 0.0 80.3 105.2 202.2 636.7 697.3 775.0 692.4 762.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24.0 85.1 60.3 25.0 896.6 0.0 175.8 External debt flows Disbursements 8.4 9.9 34.8 81.9 45.2 31.9 48.4 91.9 Long-term external debt 8.4 9.9 34.8 81.9 45.2 31.9 48.4 91.9 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.9 7.2 4.7 4.6 5.9 23.9 43.5 41.1 Long-term external debt 2.9 7.2 4.7 4.6 5.9 23.9 43.5 41.1 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 6.5 2.7 29.6 85.3 47.3 -8.0 4.9 50.8 Long-term external debt 5.5 2.7 30.1 77.3 39.3 8.0 4.9 50.8 Short-term external debt 1.0 0.0 -0.5 8.0 8.0 -16.0 0.0 0.0 Interest payments 2.3 2.6 2.0 2.2 4.2 7.3 38.0 34.4 Long-term external debt 2.0 2.6 1.8 2.0 3.4 6.9 38.0 34.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 0.0 0.2 0.2 0.8 0.4 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment .. .. .. 9.0 6.1 73.3 29.7 36.4 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.6 10.9 11.1 11.3 11.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 43.1 28.6 17.7 18.2 19.2 19.0 22.4 23.6 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.3 3.6 0.8 1.4 9.5 0.8 4.3 Maturity (years) 0.0 33.4 32.1 28.6 32.0 19.3 38.9 24.7 Grace period (years) 0.0 11.2 10.5 7.1 8.5 7.6 9.4 6.1 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 297.7 291.6 418.7 792.7 875.7 1190.5 1218.6 1322.4 Exports of goods, services & income .. .. .. 144.9 194.8 266.5 381.9 659.8 Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & income .. .. .. .. .. 658.6 656.0 610.0 Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves 88.8 130.5 317.6 467.4 545.3 699.0 764.8 .. 6. Ratios External debt stocks to exports (%) .. .. .. 448.0 366.2 290.8 181.3 115.6 External debt stocks to GNI (%) 28.1 36.3 48.7 81.9 81.5 65.1 56.8 57.7 Debt service to exports (%) .. .. .. 4.7 5.2 11.7 21.3 11.4 Short-term to external debt stocks (%) 3.9 0.5 0.8 1.9 2.2 .. .. .. Multilateral to external debt stocks (%) 50.1 64.5 49.4 27.3 27.4 28.9 34.4 37.5 Reserves to external debt stocks (%) 106.3 123.3 155.9 72.0 76.5 90.2 110.5 .. Reserves to imports (months) .. .. .. .. .. 12.7 14.0 .. 78 BHUTAN 7. Long-term external debt Debt outstanding and disbursed 80.3 105.2 202.2 636.7 697.3 775.0 692.4 762.4 Public and publicly guaranteed 80.3 105.2 202.2 636.7 697.3 775.0 692.4 762.4 Official creditors 61.8 98.4 202.2 636.7 697.3 775.0 692.4 762.4 Multilateral 41.9 68.2 100.6 177.1 195.8 223.7 238.1 286.0 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 63.3 76.0 87.5 94.3 113.9 Bilateral 19.9 30.2 101.6 459.6 501.5 551.4 454.3 476.4 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 81.9 45.2 31.9 48.4 91.9 Public and publicly guaranteed 8.4 9.9 34.8 81.9 45.2 31.9 48.4 91.9 Official creditors 8.4 9.9 34.8 81.9 45.2 31.9 48.4 91.9 Multilateral 7.2 5.8 11.8 22.1 15.1 21.4 14.7 51.3 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 8.4 10.3 8.8 8.6 19.9 Bilateral 1.2 4.1 23.0 59.9 30.1 10.5 33.6 40.6 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 4.6 5.9 23.9 43.5 41.1 Public and publicly guaranteed 2.9 7.2 4.7 4.6 5.9 23.9 43.5 41.1 Official creditors 0.3 4.9 4.7 4.6 5.9 23.9 43.5 41.1 Multilateral 0.0 0.6 1.3 2.2 2.5 2.7 3.7 5.3 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 0.7 0.8 0.8 1.0 1.2 Bilateral 0.3 4.3 3.4 2.5 3.4 21.2 39.8 35.7 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 2.0 3.4 6.9 38.0 34.4 Public and publicly guaranteed 2.0 2.6 1.8 2.0 3.4 6.9 38.0 34.4 Official creditors 0.4 2.0 1.8 2.0 3.4 6.9 38.0 34.4 Multilateral 0.3 0.6 0.9 1.6 1.8 1.8 2.1 2.2 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 0.7 0.7 Bilateral 0.1 1.4 0.9 0.4 1.6 5.1 35.9 32.2 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 55.9 64.1 61.7 -82.6 69.9 Net flows on external debt 6.5 2.7 29.6 85.3 47.3 -8.0 4.9 50.8 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 66.4 66.5 67.0 72.2 75.9 142.0 117.0 91.5 Interest 46.9 53.9 55.2 53.1 49.2 88.9 76.9 69.8 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 79 BOLIVIA, PLURINATIONAL STATE OF 1. Summary external debt data External debt stocks 4,275 5,272 5,785 6,908 5,798 4,992 5,529 5,745 Long-term external debt 3,864 4,698 5,163 6,482 5,563 4,815 5,371 5,191 Public and publicly guaranteed 3,687 4,459 4,137 4,568 3,175 2,194 2,403 2,545 Private nonguaranteed 177 239 1,026 1,914 2,388 2,621 2,969 2,647 Use of IMF credit 257 268 220 244 15 0 0 0 Short-term external debt 154 307 402 182 220 177 158 554 interest arrears on long-term 6 20 2 0 0 0 0 0 Memorandum items 31 30 19 0 0 0 0 0 3,687 4,459 3,759 4,545 3,157 2,184 2,393 2,535 177 239 1,403 1,937 2,406 2,631 2,978 2,656 549 684 180 551 185 1,059 1,173 1,156 External debt flows Disbursements 331 520 759 895 364 912 1,264 512 Long-term external debt 300 494 744 880 364 912 1,264 512 IMF purchases 31 26 15 14 0 0 0 0 Principal repayments 241 199 454 355 208 539 767 452 Long-term external debt 196 173 434 315 208 525 767 452 IMF repurchases 46 26 20 40 0 15 0 0 Net flows 32 341 294 449 194 329 479 456 Long-term external debt 104 321 309 565 155 387 498 60 Short-term external debt -57 20 -10 -91 38 -43 -19 396 Interest payments 144 173 180 174 215 202 179 137 Long-term external debt 117 155 159 159 203 194 175 118 IMF charges 13 1 1 6 2 1 0 0 Short-term external debt 14 17 20 10 10 7 4 19 2. Other non-debt resource inflows Foreign direct investment 27 393 736 -239 281 366 512 423 Portfolio equity 0 0 0 0 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.5 2.6 4.2 3.6 3.1 Japanese yen 10.0 13.2 12.3 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.9 0.7 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 41.3 32.7 45.0 75.3 66.2 76.5 79.7 82.0 4. Average terms of new commitments Official creditors Interest (%) 4.1 3.8 4.2 4.9 4.1 2.7 3.6 3.4 Maturity (years) 29.5 29.1 28.6 21.6 24.9 22.8 19.9 22.3 Grace period (years) 7.9 7.8 7.9 5.6 5.8 5.2 5.3 5.5 Private creditors Interest (%) 9.4 6.7 7.4 0.0 0.0 5.0 4.8 2.2 Maturity (years) 5.8 5.6 5.8 0.0 0.0 2.0 2.7 15.0 Grace period (years) 1.5 1.0 0.8 0.0 0.0 2.0 2.0 4.5 5. Major economic aggregates Gross national income (GNI) 4,626 6,494 8,172 10,980 12,378 12,631 16,138 16,675 Exports of goods, services & income 996 1,262 1,610 3,401 4,587 5,327 7,294 4,096 Worker remit. & comp. of employees 5 7 127 346 612 1,065 1,144 1,109 Imports of goods, services & income 1,354 1,809 2,443 3,363 4,091 5,002 6,563 522 Profit remittances on FDI 17 24 148 271 392 644 681 .. Current account balance -199 -303 -446 622 1,317 1,591 2,015 .. International reserves 511 1,005 1,184 1,795 3,194 5,314 7,720 8,575 6. Ratios External debt stocks to exports (%) 429.4 417.7 359.4 203.1 126.4 93.7 75.8 140.3 External debt stocks to GNI (%) 92.4 81.2 70.8 62.9 46.8 39.5 34.3 34.5 Debt service to exports (%) 38.7 29.5 39.4 15.6 9.2 13.9 13.0 14.4 Short-term to external debt stocks (%) 3.6 5.8 7.0 2.6 3.8 3.5 2.9 9.6 Multilateral to external debt stocks (%) 37.2 48.9 48.5 60.9 47.6 34.0 32.7 34.4 Reserves to external debt stocks (%) 12.0 19.1 20.5 26.0 55.1 106.4 139.6 149.2 Reserves to imports (months) 4.5 6.7 5.8 6.4 9.4 12.7 14.1 197.2 80 BOLIVIA, PLURINATIONAL STATE OF 7. Long-term external debt Debt outstanding and disbursed 3,864 4,698 5,163 6,482 5,563 4,815 5,371 5,191 Public and publicly guaranteed 3,687 4,459 4,137 4,568 3,175 2,194 2,403 2,545 Official creditors 3,362 4,396 4,103 4,545 3,155 2,166 2,313 2,461 Multilateral 1,589 2,579 2,803 4,210 2,762 1,698 1,810 1,978 of which: IBRD 194 95 0 0 0 0 0 0 IDA 393 770 1,096 1,673 233 259 281 316 Bilateral 1,773 1,817 1,300 336 393 468 503 482 Private creditors 325 63 33 23 20 28 89 84 of which: Bonds 35 17 0 0 0 10 10 0 Commercial banks 4 9 3 1 0 0 66 73 Private nonguaranteed 177 239 1,026 1,914 2,388 2,621 2,969 2,647 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 300 494 744 880 364 912 1,264 512 Public and publicly guaranteed 300 427 276 434 259 319 592 415 Official creditors 291 427 263 433 258 309 525 408 Multilateral 204 383 238 350 186 222 458 330 of which: IBRD 0 0 0 0 0 0 0 0 IDA 49 113 61 71 34 16 25 34 Bilateral 86 45 25 83 72 87 67 79 Private creditors 9 0 13 1 1 10 67 7 of which: Bonds 0 0 0 0 0 10 0 0 Commercial banks 0 0 0 0 0 0 66 7 Private nonguaranteed 0 67 468 447 105 593 673 97 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 196 173 434 315 208 525 767 452 Public and publicly guaranteed 172 155 153 184 200 165 375 195 Official creditors 163 147 149 182 196 161 370 182 Multilateral 117 120 118 169 181 145 352 166 of which: IBRD 21 26 12 0 0 0 0 0 IDA 2 2 0 8 5 0 1 2 Bilateral 46 27 32 13 14 16 19 17 Private creditors 9 8 4 2 4 4 5 13 of which: Bonds 0 0 0 0 0 0 0 10 Commercial banks 2 4 1 1 1 0 0 0 Private nonguaranteed 24 18 281 131 8 360 392 257 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 117 155 159 159 203 194 175 118 Public and publicly guaranteed 103 137 112 100 111 103 98 70 Official creditors 101 133 111 99 111 103 98 66 Multilateral 69 100 82 94 101 92 88 57 of which: IBRD 15 9 1 0 0 0 0 0 IDA 3 6 1 12 6 2 2 2 Bilateral 32 33 29 5 10 11 10 9 Private creditors 2 4 1 0 0 0 1 4 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 1 0 0 0 0 0 3 Private nonguaranteed 14 19 47 59 92 91 77 48 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 143 396 237 686 -1,110 -805 537 216 Net flows on external debt 32 341 294 449 194 329 479 456 9. Debt restructurings Total amount rescheduled 153 196 0 0 0 0 0 0 Total amount forgiven 169 82 64 65 1,787 1,182 17 87 Debt buyback 4 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 197 186 192 231 260 265 266 274 Interest 65 71 76 77 76 72 67 64 Private creditors Principal 607 517 461 567 200 189 95 64 Interest 115 88 64 49 18 14 11 9 Notes: Bolivia was granted debt relief effective in 2006 under MDRI. Data for 2007 include the effects of MDRI, in the amount of $810 in thousands. 81 BOSNIA AND HERZEGOVINA 1. Summary external debt data External debt stocks .. .. 2,773 6,222 7,242 8,823 8,303 9,583 Long-term external debt .. .. 2,619 5,323 6,051 7,133 7,398 7,620 Public and publicly guaranteed .. .. 1,957 2,556 2,716 2,958 3,000 3,569 Private nonguaranteed .. .. 663 2,767 3,335 4,175 4,398 4,051 Use of IMF credit .. 48 105 62 20 2 0 286 Short-term external debt .. .. 49 837 1,171 1,687 905 1,677 interest arrears on long-term .. .. 1 0 0 0 0 0 Memorandum items .. .. 1 0 0 0 0 0 .. .. 1,957 2,556 2,716 2,958 3,000 3,569 .. .. 663 2,767 3,335 4,175 4,398 4,051 .. .. 197 120 616 231 302 368 External debt flows Disbursements .. .. 138 536 754 1,022 471 815 Long-term external debt .. .. 103 536 754 1,022 471 533 IMF purchases .. 46 36 0 0 0 0 282 Principal repayments .. .. 190 134 188 145 139 354 Long-term external debt .. .. 170 95 144 127 137 354 IMF repurchases .. 28 20 39 44 18 2 0 Net flows .. .. -41 879 899 1,392 -450 1,233 Long-term external debt .. .. -68 441 609 895 335 179 Short-term external debt .. .. 11 477 334 516 -782 772 Interest payments .. .. 127 151 183 290 307 292 Long-term external debt .. .. 119 136 176 217 256 219 IMF charges .. 5 5 3 2 1 0 1 Short-term external debt .. .. 3 12 4 73 50 72 2. Other non-debt resource inflows Foreign direct investment .. .. 146 608 768 2,071 921 235 Portfolio equity .. .. 0 .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 33.9 35.7 38.0 38.9 48.6 Japanese yen .. .. 0.0 1.2 1.3 1.2 1.5 1.2 Pound sterling .. .. 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. 2.3 1.7 1.2 1.2 1.2 1.1 U.S.dollars .. .. 27.6 41.3 40.9 40.1 39.1 32.7 4. Average terms of new commitments Official creditors Interest (%) .. .. 3.7 1.9 3.1 3.9 4.7 1.6 Maturity (years) .. .. 23.3 17.1 20.6 22.4 16.2 16.1 Grace period (years) .. .. 6.7 5.9 6.9 6.1 4.3 4.8 Private creditors Interest (%) .. .. 0.0 0.0 2.9 4.2 1.2 1.0 Maturity (years) .. .. 0.0 0.0 11.9 15.1 13.4 13.5 Grace period (years) .. .. 0.0 0.0 2.9 6.9 6.0 4.5 5. Major economic aggregates Gross national income (GNI) .. .. 6,096 11,343 12,810 15,723 19,100 17,554 Exports of goods, services & income .. .. 2,247 4,227 5,253 6,738 8,062 6,125 Worker remit. & comp. of employees .. .. 1,607 2,043 2,157 2,700 2,735 2,167 Imports of goods, services & income .. .. 4,234 8,103 8,468 11,049 13,539 9,441 Profit remittances on FDI .. .. 0 97 175 344 234 29 Current account balance .. .. -396 -1,844 -981 -1,594 -2,764 .. International reserves .. .. 497 2,531 3,372 4,525 3,516 3,245 6. Ratios External debt stocks to exports (%) .. .. 123.4 147.2 137.9 130.9 103.0 156.5 External debt stocks to GNI (%) .. .. 45.5 54.9 56.5 56.1 43.5 54.6 Debt service to exports (%) .. .. 14.2 6.8 7.1 6.5 5.5 10.5 Short-term to external debt stocks (%) .. .. 1.8 13.5 16.2 19.1 10.9 17.5 Multilateral to external debt stocks (%) .. .. 45.6 27.5 24.9 22.0 23.9 22.9 Reserves to external debt stocks (%) .. .. 17.9 40.7 46.6 51.3 42.3 33.9 Reserves to imports (months) .. .. 1.4 3.7 4.8 4.9 3.1 4.1 82 BOSNIA AND HERZEGOVINA 7. Long-term external debt Debt outstanding and disbursed .. .. 2,619 5,323 6,051 7,133 7,398 7,620 Public and publicly guaranteed .. .. 1,957 2,556 2,716 2,958 3,000 3,569 Official creditors .. .. 1,832 2,401 2,547 2,764 2,800 3,041 Multilateral .. .. 1,266 1,712 1,802 1,942 1,984 2,197 of which: IBRD .. 472 562 481 466 453 443 417 IDA .. 0 398 921 983 1,068 1,077 1,102 Bilateral .. .. 566 689 744 821 816 845 Private creditors .. .. 125 155 169 195 200 527 of which: Bonds .. .. 0 0 0 0 0 322 Commercial banks .. .. 125 155 169 195 200 206 Private nonguaranteed .. .. 663 2,767 3,335 4,175 4,398 4,051 of which: Bonds .. .. 0 0 0 0 0 0 Disbursements .. .. 103 536 754 1,022 471 533 Public and publicly guaranteed .. .. 98 150 125 149 189 327 Official creditors .. .. 98 150 125 137 163 315 Multilateral .. .. 90 133 94 118 128 269 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 44 56 27 57 29 33 Bilateral .. .. 8 17 32 19 35 46 Private creditors .. .. 0 0 0 12 26 12 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 12 26 12 Private nonguaranteed .. .. 5 386 628 873 282 206 of which: Bonds .. .. 0 0 0 0 0 0 Principal repayments .. .. 170 95 144 127 137 354 Public and publicly guaranteed .. .. 170 54 67 79 91 109 Official creditors .. .. 170 51 63 72 82 96 Multilateral .. .. 166 44 56 63 71 84 of which: IBRD .. 0 0 24 24 24 25 25 IDA .. 0 0 0 4 9 12 15 Bilateral .. .. 3 7 8 9 11 12 Private creditors .. .. 0 3 3 7 9 13 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 3 3 7 9 13 Private nonguaranteed .. .. 1 41 78 48 46 245 of which: Bonds .. .. 0 0 0 0 0 0 Interest payments .. .. 119 136 176 217 256 219 Public and publicly guaranteed .. .. 89 53 61 70 80 63 Official creditors .. .. 86 48 56 63 70 56 Multilateral .. .. 74 35 43 49 54 41 of which: IBRD .. 0 33 17 23 26 26 17 IDA .. 0 3 7 8 8 8 8 Bilateral .. .. 13 13 13 14 16 14 Private creditors .. .. 2 6 6 6 10 8 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 2 6 6 6 10 8 Private nonguaranteed .. .. 30 83 114 147 176 155 of which: Bonds .. .. 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. 397 633 1,020 1,580 -520 1,280 Net flows on external debt .. .. -41 879 899 1,392 -450 1,233 9. Debt restructurings Total amount rescheduled .. .. 4 0 0 0 0 0 Total amount forgiven .. .. 0 0 0 0 0 0 Debt buyback .. .. 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 197 181 180 195 218 224 220 229 Interest 57 57 56 54 51 48 44 40 Private creditors Principal 1,055 859 792 520 378 284 235 192 Interest 168 125 92 62 44 31 21 14 Notes: Data on long-term private nonguaranteed debt from 2005 are World Bank staff estimates. 83 BOTSWANA 1. Summary external debt data External debt stocks 553 717 453 447 382 413 434 1,617 Long-term external debt 547 707 438 412 358 391 391 1,388 Public and publicly guaranteed 547 707 438 412 358 391 391 1,388 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 6 10 15 35 24 22 43 229 interest arrears on long-term 3 6 0 0 0 0 0 0 Memorandum items 3 9 1 0 0 0 0 0 547 676 432 412 358 391 391 1,388 0 31 5 0 0 0 0 0 81 0 0 0 75 50 0 1,777 External debt flows Disbursements 27 67 28 11 4 50 54 1,006 Long-term external debt 27 67 28 11 4 50 54 1,006 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 66 64 52 40 45 37 61 36 Long-term external debt 66 64 52 40 45 37 61 36 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -39 4 -29 -17 -51 11 15 1,156 Long-term external debt -39 3 -24 -30 -40 13 -6 970 Short-term external debt 0 1 -5 13 -11 -2 21 186 Interest payments 39 27 17 13 12 10 8 11 Long-term external debt 39 27 15 12 10 9 7 9 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 0 0 1 1 2 1 1 2 2. Other non-debt resource inflows Foreign direct investment 96 70 57 279 486 647 109 234 Portfolio equity 0 6 -6 62 36 9 -37 18 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.9 8.2 8.0 7.2 2.0 Japanese yen 4.4 11.1 11.4 17.1 10.4 13.3 13.9 3.5 Pound sterling 10.1 3.8 2.3 5.2 6.1 5.5 3.6 1.0 Swiss franc 0.0 0.1 0.1 0.1 0.0 0.0 0.0 0.0 U.S.dollars 11.9 13.4 18.0 20.5 20.8 18.3 24.9 7.7 4. Average terms of new commitments Official creditors Interest (%) 5.6 0.0 0.0 0.0 4.6 3.3 0.0 0.8 Maturity (years) 17.6 0.0 0.0 0.0 18.2 20.9 0.0 20.7 Grace period (years) 4.5 0.0 0.0 0.0 5.2 5.9 0.0 5.8 Private creditors Interest (%) 8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 11.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,686 4,741 5,280 9,420 10,482 11,647 13,169 11,432 Exports of goods, services & income 2,421 2,904 3,378 5,757 5,821 6,061 6,042 3,835 Worker remit. & comp. of employees 86 59 26 127 117 105 114 122 Imports of goods, services & income 2,509 2,565 3,050 4,839 4,753 5,816 6,550 5,218 Profit remittances on FDI 407 416 658 1,066 1,043 989 598 .. Current account balance -19 300 545 1,591 1,940 1,351 502 .. International reserves 3,331 4,695 6,318 6,309 7,992 9,790 9,119 8,704 6. Ratios External debt stocks to exports (%) 22.8 24.7 13.4 7.8 6.6 6.8 7.2 42.2 External debt stocks to GNI (%) 15.0 15.1 8.6 4.7 3.6 3.5 3.3 14.1 Debt service to exports (%) 4.3 3.1 2.0 0.9 1.0 0.8 1.1 1.2 Short-term to external debt stocks (%) 1.0 1.4 3.3 7.8 6.3 5.3 9.9 14.2 Multilateral to external debt stocks (%) 70.0 70.1 65.7 58.6 64.2 58.2 57.1 77.4 Reserves to external debt stocks (%) 602.5 654.7 1,395.5 1,410.5 2,091.3 2,369.9 2,102.1 538.2 Reserves to imports (months) 15.9 22.0 24.9 15.6 20.2 20.2 16.7 20.0 84 BOTSWANA 7. Long-term external debt Debt outstanding and disbursed 547 707 438 412 358 391 391 1,388 Public and publicly guaranteed 547 707 438 412 358 391 391 1,388 Official creditors 520 660 410 401 349 384 389 1,387 Multilateral 387 503 297 262 245 240 248 1,252 of which: IBRD 155 96 16 2 1 0 0 0 IDA 14 12 9 7 6 6 5 5 Bilateral 133 157 112 139 104 144 141 135 Private creditors 27 47 28 12 9 7 2 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 3 33 20 7 5 4 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 27 67 28 11 4 50 54 1,006 Public and publicly guaranteed 27 67 28 11 4 50 54 1,006 Official creditors 27 67 24 11 4 50 54 1,006 Multilateral 21 23 8 0 2 8 44 997 of which: IBRD 7 1 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 6 44 16 11 3 43 11 9 Private creditors 0 0 4 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 4 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 66 64 52 40 45 37 61 36 Public and publicly guaranteed 66 64 52 40 45 37 61 36 Official creditors 48 58 45 38 42 35 56 35 Multilateral 37 48 33 28 30 25 26 21 of which: IBRD 19 24 7 1 1 1 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 11 9 12 10 12 10 30 14 Private creditors 18 6 7 2 2 2 5 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 5 6 2 2 2 4 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 39 27 15 12 10 9 7 9 Public and publicly guaranteed 39 27 15 12 10 9 7 9 Official creditors 36 24 14 11 10 9 7 9 Multilateral 28 21 11 8 7 6 5 5 of which: IBRD 14 9 1 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 8 3 3 4 3 3 3 3 Private creditors 3 3 1 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 2 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 3 17 -51 -63 -65 31 21 1,184 Net flows on external debt -39 4 -29 -17 -51 11 15 1,156 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 35 52 34 30 29 130 128 133 Interest 11 15 14 14 14 13 12 12 Private creditors Principal 1 1 1 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 85 BRAZIL 1. Summary external debt data External debt stocks 119,732 160,469 241,550 187,526 193,458 237,605 262,139 276,932 Long-term external debt 94,196 129,090 208,809 163,533 173,133 198,357 225,488 237,143 Public and publicly guaranteed 87,525 98,260 96,127 94,028 84,245 79,595 79,646 87,317 Private nonguaranteed 6,671 30,830 112,682 69,505 88,889 118,762 145,842 149,826 Use of IMF credit 1,821 142 1,768 0 0 0 0 0 Short-term external debt 23,715 31,238 30,973 23,993 20,325 39,248 36,652 39,789 interest arrears on long-term 8,790 1,546 176 0 2 2 8 3 Memorandum items 3,597 3,936 1,821 18 3 6 5 10 86,955 97,392 95,681 92,677 83,044 78,374 78,396 85,000 7,241 31,698 113,127 70,855 90,089 119,983 147,092 152,144 3,012 7,606 30,557 12,659 9,247 11,070 12,743 19,262 External debt flows Disbursements 4,087 20,207 44,051 27,402 52,622 59,905 69,496 57,431 Long-term external debt 4,087 20,207 44,051 27,402 52,622 59,905 69,496 57,431 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 5,896 11,051 47,733 49,561 47,388 40,422 40,285 30,151 Long-term external debt 5,131 11,002 41,040 25,751 47,388 40,422 40,285 30,151 IMF repurchases 765 49 6,693 23,810 0 0 0 0 Net flows -1,710 8,797 -1,851 -23,433 1,564 38,407 26,610 30,422 Long-term external debt -1,044 9,205 3,011 1,651 5,234 19,484 29,212 27,280 Short-term external debt 99 -359 1,831 -1,274 -3,670 18,923 -2,602 3,142 Interest payments 2,260 10,522 17,111 13,282 14,785 14,514 16,175 14,166 Long-term external debt 2,029 8,719 15,280 10,303 13,150 13,025 15,037 13,677 IMF charges 231 10 336 1,079 109 0 0 0 Short-term external debt 0 1,792 1,494 1,900 1,526 1,489 1,138 489 2. Other non-debt resource inflows Foreign direct investment 989 4,859 32,779 15,066 18,782 34,585 45,058 25,949 Portfolio equity 103 2,775 3,076 6,451 7,716 26,217 -7,565 37,071 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.4 10.4 9.8 9.0 7.3 Japanese yen 7.4 8.7 7.4 6.1 5.4 4.7 5.9 5.0 Pound sterling 1.8 1.8 1.0 0.2 0.3 0.0 0.1 0.1 Swiss franc 1.0 0.3 0.3 0.1 0.0 0.0 0.0 0.0 U.S.dollars 60.5 68.3 70.4 79.3 79.0 80.7 80.6 84.2 4. Average terms of new commitments Official creditors Interest (%) 7.4 5.9 5.7 4.7 6.0 4.6 3.7 2.5 Maturity (years) 15.2 19.9 8.6 18.5 17.1 16.7 23.6 15.3 Grace period (years) 4.1 4.9 1.2 4.3 4.4 3.9 3.8 5.0 Private creditors Interest (%) 9.0 7.7 9.9 8.7 7.5 8.5 5.5 5.7 Maturity (years) 8.0 3.3 15.5 14.5 15.1 13.7 14.2 14.8 Grace period (years) 3.2 2.1 14.2 14.0 15.0 9.4 13.7 13.9 5. Major economic aggregates Gross national income (GNI) 449,672 757,886 626,768 869,565 1,073,837 1,346,232 1,609,692 1,547,131 Exports of goods, services & income 36,327 56,098 68,205 137,550 163,708 196,096 240,904 189,549 Worker remit. & comp. of employees 573 3,315 1,649 3,540 4,253 4,382 5,089 4,234 Imports of goods, services & income 40,949 77,855 93,950 127,123 154,393 198,574 273,320 217,189 Profit remittances on FDI 1,892 2,814 4,238 11,035 13,884 19,692 28,773 21,029 Current account balance -3,823 -18,136 -24,225 13,985 13,621 1,551 -28,192 -24,302 International reserves 9,200 51,477 33,015 53,799 85,843 180,334 193,783 238,539 6. Ratios External debt stocks to exports (%) 329.6 286.1 354.2 136.3 118.2 121.2 108.8 146.1 External debt stocks to GNI (%) 26.6 21.2 38.5 21.6 18.0 17.6 16.3 17.9 Debt service to exports (%) 22.5 38.5 95.1 45.7 38.0 28.0 23.4 23.4 Short-term to external debt stocks (%) 19.8 19.5 12.8 12.8 10.5 16.5 14.0 14.4 Multilateral to external debt stocks (%) 9.5 5.8 7.6 10.3 11.3 9.6 9.3 8.9 Reserves to external debt stocks (%) 7.7 32.1 13.7 28.7 44.4 75.9 73.9 86.1 Reserves to imports (months) 2.7 7.9 4.2 5.1 6.7 10.9 8.5 13.2 86 BRAZIL 7. Long-term external debt Debt outstanding and disbursed 94,196 129,090 208,809 163,533 173,133 198,357 225,488 237,143 Public and publicly guaranteed 87,525 98,260 96,127 94,028 84,245 79,595 79,646 87,317 Official creditors 29,348 27,837 29,351 25,843 25,382 26,148 29,020 32,385 Multilateral 11,391 9,366 18,330 19,356 21,929 22,721 24,352 24,753 of which: IBRD 8,427 6,038 7,377 8,083 9,694 9,676 10,671 10,065 IDA 0 0 0 0 0 0 0 0 Bilateral 17,956 18,471 11,021 6,487 3,454 3,427 4,668 7,632 Private creditors 58,177 70,423 66,776 68,185 58,862 53,447 50,626 54,932 of which: Bonds 2,339 54,615 54,096 59,077 49,173 45,441 42,035 47,361 Commercial banks 47,461 12,158 11,478 8,331 9,575 7,719 8,382 7,389 Private nonguaranteed 6,671 30,830 112,682 69,505 88,889 118,762 145,842 149,826 of which: Bonds 0 11,290 16,846 35,969 38,764 45,311 37,855 53,342 Disbursements 4,087 20,207 44,051 27,402 52,622 59,905 69,496 57,431 Public and publicly guaranteed 3,212 8,111 19,636 13,195 11,122 6,275 16,633 13,489 Official creditors 1,322 2,005 5,244 3,326 4,249 2,063 4,313 6,845 Multilateral 1,001 1,257 4,478 2,326 3,865 1,986 2,959 3,269 of which: IBRD 782 838 1,692 773 2,203 606 1,726 1,274 IDA 0 0 0 0 0 0 0 0 Bilateral 321 747 766 1,001 384 78 1,354 3,576 Private creditors 1,890 6,107 14,391 9,868 6,873 4,212 12,320 6,643 of which: Bonds 200 1,661 10,836 8,252 5,614 2,977 10,254 6,100 Commercial banks 864 4,340 3,532 1,608 1,240 1,182 2,057 485 Private nonguaranteed 875 12,096 24,415 14,207 41,500 53,630 52,863 43,943 of which: Bonds 0 4,563 2,886 6,579 9,832 13,930 6,754 17,015 Principal repayments 5,131 11,002 41,040 25,751 47,388 40,422 40,285 30,151 Public and publicly guaranteed 4,123 6,522 17,226 9,444 24,474 14,079 16,282 7,466 Official creditors 1,956 3,719 7,045 3,300 4,534 2,263 2,352 3,407 Multilateral 1,518 1,683 4,309 1,774 1,512 1,679 1,734 2,830 of which: IBRD 1,251 1,377 887 1,029 743 805 812 1,872 IDA 0 0 0 0 0 0 0 0 Bilateral 439 2,035 2,736 1,526 3,022 584 618 578 Private creditors 2,167 2,804 10,181 6,145 19,941 11,816 13,931 4,059 of which: Bonds 71 919 8,397 4,187 17,885 8,110 11,952 2,419 Commercial banks 1,616 1,051 1,546 1,923 2,015 3,612 1,897 1,557 Private nonguaranteed 1,008 4,480 23,813 16,306 22,914 26,343 24,002 22,685 of which: Bonds 0 2,670 2,775 7,063 5,479 8,471 2,420 1,585 Interest payments 2,029 8,719 15,280 10,303 13,150 13,025 15,037 13,677 Public and publicly guaranteed 1,569 6,624 6,926 6,689 7,136 7,069 6,048 5,779 Official creditors 1,273 1,567 1,915 1,047 1,224 1,352 1,283 1,205 Multilateral 966 750 1,407 807 973 1,174 1,111 919 of which: IBRD 725 491 464 307 432 548 498 359 IDA 0 0 0 0 0 0 0 0 Bilateral 307 817 508 240 251 178 172 286 Private creditors 296 5,056 5,010 5,642 5,911 5,717 4,765 4,574 of which: Bonds 14 4,416 4,212 5,033 5,012 4,959 4,272 4,025 Commercial banks 46 376 759 602 891 742 480 531 Private nonguaranteed 460 2,095 8,355 3,614 6,014 5,956 8,989 7,898 of which: Bonds 0 837 1,562 2,161 3,799 3,454 2,842 2,936 8. Debt stock-flow reconciliation Total change in external debt stocks 5,375 8,075 -2,558 -32,260 5,933 44,146 24,535 14,793 Net flows on external debt -1,710 8,797 -1,851 -23,433 1,564 38,407 26,610 30,422 9. Debt restructurings Total amount rescheduled 1,316 234 0 4,271 0 28 265 2 Total amount forgiven 483 0 137 0 0 0 56 0 Debt buyback 776 0 6,342 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 3,070 3,158 3,382 2,986 2,682 4,607 4,332 4,135 Interest 912 871 816 755 699 621 510 407 Private creditors Principal 24,765 24,955 19,720 14,752 13,735 16,982 13,710 15,189 Interest 11,060 10,695 9,564 8,895 7,991 7,197 6,127 5,263 Notes: Short-term debt for 2009 is based on reports provided by the country. 87 BULGARIA 1. Summary external debt data External debt stocks 10,890 10,379 11,212 15,700 20,990 32,967 39,767 40,582 Long-term external debt 9,834 9,150 8,440 10,597 12,609 18,930 21,433 22,004 Public and publicly guaranteed 9,834 8,808 7,671 5,075 5,066 5,242 4,397 4,772 Private nonguaranteed 0 342 769 5,522 7,543 13,689 17,035 17,232 Use of IMF credit 0 717 1,322 660 341 0 0 0 Short-term external debt 1,056 512 1,450 4,442 8,040 14,036 18,334 18,578 interest arrears on long-term 226 74 0 0 0 0 0 0 Memorandum items 356 227 1 0 0 0 0 0 9,834 8,808 7,671 5,075 5,066 5,199 4,359 4,735 0 342 769 5,522 7,543 13,732 17,074 17,269 563 678 700 266 104 455 374 280 External debt flows Disbursements 875 259 995 3,710 3,616 7,740 8,224 3,880 Long-term external debt 875 259 719 3,710 3,616 7,740 8,224 3,880 IMF purchases 0 0 276 0 0 0 0 0 Principal repayments 865 565 712 3,352 1,992 3,033 3,765 3,694 Long-term external debt 865 319 573 2,909 1,645 2,686 3,765 3,694 IMF repurchases 0 246 139 443 346 347 0 0 Net flows -14 -194 465 1,564 5,222 10,704 8,756 430 Long-term external debt 11 -61 145 801 1,970 5,054 4,458 186 Short-term external debt -24 113 183 1,206 3,598 5,996 4,298 244 Interest payments 510 575 584 613 744 1,164 1,610 1,516 Long-term external debt 452 501 456 445 489 603 858 773 IMF charges 0 50 63 37 24 9 0 0 Short-term external debt 58 24 65 130 230 552 752 743 2. Other non-debt resource inflows Foreign direct investment 4 90 1,002 4,312 7,758 13,215 9,937 4,489 Portfolio equity 0 0 5 449 148 89 -106 8 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 48.4 50.7 52.4 51.7 56.8 Japanese yen 6.6 9.0 5.5 5.1 6.5 7.4 12.9 12.4 Pound sterling 0.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 7.7 1.1 0.3 0.0 0.0 0.0 0.0 0.0 U.S.dollars 42.1 66.1 80.1 44.9 41.7 39.3 34.6 30.4 4. Average terms of new commitments Official creditors Interest (%) 9.3 5.9 6.2 3.0 3.7 4.9 4.3 2.4 Maturity (years) 7.2 17.3 16.1 16.2 16.1 16.6 16.8 17.6 Grace period (years) 3.0 5.4 4.4 4.7 2.6 4.5 4.0 5.3 Private creditors Interest (%) 9.1 3.4 7.6 4.2 5.0 0.0 2.0 0.0 Maturity (years) 3.2 4.7 16.0 9.4 10.0 0.0 29.2 0.0 Grace period (years) 2.3 3.2 4.9 1.9 0.5 0.0 9.2 0.0 5. Major economic aggregates Gross national income (GNI) 19,083 12,675 12,276 27,265 30,793 38,018 47,327 44,907 Exports of goods, services & income 7,070 6,926 7,321 17,674 21,972 27,487 31,931 24,464 Worker remit. & comp. of employees .. .. 58 1,613 1,716 1,694 1,874 1,558 Imports of goods, services & income 8,905 7,084 8,314 22,034 28,680 39,909 45,108 30,095 Profit remittances on FDI 0 0 107 912 1,857 3,742 2,720 2,335 Current account balance -1,710 -26 -703 -3,347 -5,863 -11,437 -11,898 -4,340 International reserves .. 1,635 3,507 8,697 11,756 17,545 17,930 18,522 6. Ratios External debt stocks to exports (%) 154.0 149.9 153.2 88.8 95.5 119.9 124.5 165.9 External debt stocks to GNI (%) 57.1 81.9 91.3 57.6 68.2 86.7 84.0 90.4 Debt service to exports (%) 19.4 16.5 17.7 22.4 12.4 15.3 16.8 21.3 Short-term to external debt stocks (%) 9.7 4.9 12.9 28.3 38.3 42.6 46.1 45.8 Multilateral to external debt stocks (%) 2.0 11.9 13.8 15.7 11.4 8.1 5.5 6.2 Reserves to external debt stocks (%) .. 15.8 31.3 55.4 56.0 53.2 45.1 45.6 Reserves to imports (months) .. 2.8 5.1 4.7 4.9 5.3 4.8 7.4 88 BULGARIA 7. Long-term external debt Debt outstanding and disbursed 9,834 9,150 8,440 10,597 12,609 18,930 21,433 22,004 Public and publicly guaranteed 9,834 8,808 7,671 5,075 5,066 5,242 4,397 4,772 Official creditors 1,669 2,950 2,603 3,045 3,012 3,362 3,019 3,322 Multilateral 222 1,230 1,542 2,457 2,392 2,674 2,198 2,507 of which: IBRD 0 444 824 1,453 1,331 1,604 1,207 1,509 IDA 0 0 0 0 0 0 0 0 Bilateral 1,447 1,720 1,061 587 620 688 821 815 Private creditors 8,165 5,857 5,068 2,030 2,054 1,880 1,378 1,450 of which: Bonds 327 5,412 4,982 1,920 1,937 1,792 1,342 1,430 Commercial banks 7,084 394 26 111 116 86 34 19 Private nonguaranteed 0 342 769 5,522 7,543 13,689 17,035 17,232 of which: Bonds 0 0 0 526 736 855 522 146 Disbursements 875 259 719 3,710 3,616 7,740 8,224 3,880 Public and publicly guaranteed 875 259 405 402 260 368 370 520 Official creditors 80 129 381 383 243 361 362 520 Multilateral 44 38 156 328 150 293 227 446 of which: IBRD 0 15 71 200 38 201 56 370 IDA 0 0 0 0 0 0 0 0 Bilateral 36 91 225 55 93 68 136 74 Private creditors 795 129 24 19 17 7 8 0 of which: Bonds 65 33 0 0 0 0 0 0 Commercial banks 652 96 24 19 16 7 8 0 Private nonguaranteed 0 0 313 3,308 3,355 7,372 7,853 3,360 of which: Bonds 0 0 0 249 215 0 0 0 Principal repayments 865 319 573 2,909 1,645 2,686 3,765 3,694 Public and publicly guaranteed 865 319 345 1,761 515 404 858 281 Official creditors 23 92 297 255 502 299 715 266 Multilateral 22 25 58 214 430 253 658 187 of which: IBRD 0 0 27 85 276 65 462 85 IDA 0 0 0 0 0 0 0 0 Bilateral 1 67 239 41 73 47 57 79 Private creditors 842 228 48 1,507 13 105 143 15 of which: Bonds 0 39 46 1,496 0 87 124 0 Commercial banks 241 182 1 11 13 18 19 15 Private nonguaranteed 0 0 229 1,147 1,130 2,282 2,908 3,413 of which: Bonds 0 0 0 10 49 0 287 372 Interest payments 452 501 456 445 489 603 858 773 Public and publicly guaranteed 452 501 424 327 352 285 286 211 Official creditors 14 178 139 93 100 129 148 106 Multilateral 13 61 81 75 82 110 124 84 of which: IBRD 0 31 49 40 44 62 72 43 IDA 0 0 0 0 0 0 0 0 Bilateral 0 118 58 18 19 19 24 22 Private creditors 438 323 285 234 252 156 139 105 of which: Bonds 15 315 284 229 245 149 133 104 Commercial banks 337 7 0 5 7 7 5 1 Private nonguaranteed 0 0 32 118 137 318 572 562 of which: Bonds 0 0 0 30 44 55 36 29 8. Debt stock-flow reconciliation Total change in external debt stocks 753 550 192 33 5,290 11,977 6,800 815 Net flows on external debt -14 -194 465 1,564 5,222 10,704 8,756 430 9. Debt restructurings Total amount rescheduled 0 84 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 127 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 490 233 245 276 290 277 282 278 Interest 81 68 62 56 49 43 36 30 Private creditors Principal 3,543 2,692 2,415 2,716 1,409 2,468 1,604 1,790 Interest 452 381 343 275 173 107 52 48 Notes: Short-term debt is based on Central Bank data. 89 BURKINA FASO 1. Summary external debt data External debt stocks 832 1,271 1,422 1,994 1,123 1,450 1,682 1,835 Long-term external debt 748 1,140 1,226 1,868 999 1,257 1,518 1,725 Public and publicly guaranteed 748 1,140 1,226 1,868 999 1,257 1,518 1,725 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 75 112 104 35 37 54 110 Short-term external debt 84 56 84 22 89 155 110 0 interest arrears on long-term 21 12 5 0 0 0 0 0 Memorandum items 64 37 42 36 39 37 34 34 747 1,140 1,226 1,868 999 1,257 1,518 1,725 1 0 0 0 0 0 0 0 90 37 53 232 294 389 414 48 External debt flows Disbursements 77 139 99 218 301 226 327 263 Long-term external debt 77 112 91 203 282 225 308 209 IMF purchases 0 27 7 15 19 1 18 54 Principal repayments 19 28 33 28 27 25 27 26 Long-term external debt 18 28 26 24 27 25 27 26 IMF repurchases 1 0 7 4 0 0 0 0 Net flows 68 124 47 188 341 267 254 127 Long-term external debt 59 83 65 179 255 200 281 183 Short-term external debt 10 14 -19 -2 67 66 -45 -110 Interest payments 16 20 14 17 17 17 18 15 Long-term external debt 10 18 12 16 15 12 14 15 IMF charges 0 0 1 0 0 0 0 0 Short-term external debt 6 2 1 1 2 5 3 0 2. Other non-debt resource inflows Foreign direct investment 0 10 23 34 34 344 137 171 Portfolio equity 0 .. -3 .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.7 6.2 6.7 12.8 11.9 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.5 0.3 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 39.1 55.5 59.4 56.5 40.3 39.4 35.9 35.8 4. Average terms of new commitments Official creditors Interest (%) 2.5 0.8 1.4 0.9 0.8 1.3 1.1 0.8 Maturity (years) 27.9 39.9 37.1 35.8 40.9 32.6 35.2 49.9 Grace period (years) 8.7 10.4 7.8 8.8 10.1 8.5 9.0 10.4 Private creditors Interest (%) 0.0 0.0 0.0 4.2 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 11.2 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 1.7 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,094 2,369 2,606 5,411 5,756 6,752 7,932 8,019 Exports of goods, services & income 367 .. 251 .. .. .. .. .. Worker remit. & comp. of employees 140 78 67 50 50 50 50 49 Imports of goods, services & income 776 .. 691 .. .. .. .. .. Profit remittances on FDI 6 .. 3 .. .. .. .. .. Current account balance -77 .. -319 .. .. .. .. .. International reserves 305 347 244 438 555 1,029 928 1,296 6. Ratios External debt stocks to exports (%) 226.9 .. 567.6 .. .. .. .. .. External debt stocks to GNI (%) 26.9 53.6 54.6 36.9 19.5 21.5 21.2 22.9 Debt service to exports (%) 9.4 .. 18.6 .. .. .. .. .. Short-term to external debt stocks (%) 10.1 4.4 5.9 1.1 7.9 10.7 6.5 .. Multilateral to external debt stocks (%) 67.7 77.2 72.0 85.2 69.8 67.5 71.7 76.4 Reserves to external debt stocks (%) 36.6 27.3 17.1 22.0 49.4 71.0 55.1 70.6 Reserves to imports (months) 4.7 .. 4.2 .. .. .. .. .. 90 BURKINA FASO 7. Long-term external debt Debt outstanding and disbursed 748 1,140 1,226 1,868 999 1,257 1,518 1,725 Public and publicly guaranteed 748 1,140 1,226 1,868 999 1,257 1,518 1,725 Official creditors 710 1,135 1,222 1,868 987 1,232 1,496 1,705 Multilateral 563 981 1,024 1,699 784 979 1,206 1,402 of which: IBRD 0 0 0 0 0 0 0 0 IDA 282 608 593 1,043 371 468 626 721 Bilateral 147 154 198 169 202 252 291 303 Private creditors 38 5 3 0 12 26 22 20 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 91 203 282 225 308 209 Public and publicly guaranteed 77 112 91 203 282 225 308 209 Official creditors 77 112 91 203 270 211 308 209 Multilateral 43 106 76 191 232 161 253 187 of which: IBRD 0 0 0 0 0 0 0 0 IDA 15 85 38 107 125 80 160 90 Bilateral 34 6 16 13 38 50 55 22 Private creditors 0 0 0 0 12 14 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 18 28 26 24 27 25 27 26 Public and publicly guaranteed 18 28 26 24 27 25 27 26 Official creditors 18 28 26 24 27 22 24 24 Multilateral 13 24 20 17 18 11 15 15 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 4 1 5 3 0 0 0 Bilateral 4 4 6 8 9 11 9 9 Private creditors 0 0 0 0 0 3 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 15 12 14 15 Public and publicly guaranteed 10 18 12 16 15 12 14 15 Official creditors 10 18 12 16 15 12 14 15 Multilateral 7 11 9 14 13 9 11 12 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 4 4 8 5 4 4 5 Bilateral 3 6 2 2 3 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 5 -871 327 233 153 Net flows on external debt 68 124 47 188 341 267 254 127 9. Debt restructurings Total amount rescheduled 0 0 17 1 4 0 1 0 Total amount forgiven 5 15 81 45 1,290 3 7 0 Debt buyback 0 0 92 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 62 52 55 66 72 75 81 90 Interest 22 23 23 23 23 22 21 20 Private creditors Principal 3 3 3 3 3 3 3 0 Interest 1 1 1 0 0 0 0 0 Notes: Data on long-term public debt for 2009 are World Bank staff estimates. Burkina Faso was granted debt relief effective in 2006 under MDRI. 91 BURUNDI 1. Summary external debt data External debt stocks 906.9 1162.0 1108.0 1321.8 1411.8 1455.7 1443.2 518.0 Long-term external debt 851.0 1099.3 1036.0 1229.6 1291.4 1343.7 1308.0 419.8 Public and publicly guaranteed 851.0 1099.3 1036.0 1229.6 1291.4 1343.7 1308.0 419.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 42.6 47.8 7.0 58.2 82.7 98.2 116.9 90.9 Short-term external debt 13.4 14.9 65.0 34.1 37.6 13.8 18.3 7.3 interest arrears on long-term 0.0 2.0 19.7 33.1 36.6 12.8 4.3 0.3 Memorandum items 0.1 3.0 82.1 75.2 76.4 60.0 65.3 16.3 849.2 1099.3 1036.0 1229.6 1291.4 1343.7 1308.0 419.8 1.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 126.0 38.8 50.3 39.2 3.8 2.4 37.0 8.0 External debt flows Disbursements 95.7 44.8 41.3 63.3 60.4 42.2 46.6 43.9 Long-term external debt 95.7 44.8 41.3 42.1 39.4 31.3 24.8 23.6 IMF purchases 0.0 0.0 0.0 21.1 21.0 10.9 21.7 20.4 Principal repayments 28.3 26.8 14.0 27.1 12.9 11.2 11.3 15.2 Long-term external debt 27.5 17.8 9.4 27.1 12.9 11.2 11.3 8.3 IMF repurchases 0.8 9.1 4.5 0.0 0.0 0.0 0.0 6.9 Net flows 64.9 26.3 18.4 34.2 47.5 31.0 48.3 21.7 Long-term external debt 68.2 27.1 31.8 15.0 26.5 20.1 13.5 15.3 Short-term external debt -2.5 8.3 -8.9 -2.0 0.0 0.0 13.0 -7.0 Interest payments 14.1 11.8 7.9 12.2 5.5 7.8 8.2 4.1 Long-term external debt 12.2 11.0 4.5 11.9 5.1 7.3 7.4 3.6 IMF charges 0.2 0.3 0.1 0.2 0.3 0.5 0.6 0.4 Short-term external debt 1.7 0.5 3.3 0.1 0.1 0.0 0.2 0.1 2. Other non-debt resource inflows Foreign direct investment 1.3 2.0 11.7 0.6 0.0 0.5 3.8 9.9 Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.1 11.4 11.9 10.1 17.6 Japanese yen 2.0 2.9 2.8 1.4 0.7 0.7 1.0 2.9 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.3 55.1 59.4 61.8 61.3 60.4 60.3 33.6 4. Average terms of new commitments Official creditors Interest (%) 0.9 0.8 1.7 0.8 0.0 1.5 1.0 1.0 Maturity (years) 40.3 38.0 31.3 47.8 19.6 22.5 19.5 28.5 Grace period (years) 10.3 9.8 8.2 10.2 10.1 4.7 6.4 10.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1117.2 988.0 723.4 776.2 910.0 973.9 1164.6 1331.3 Exports of goods, services & income 97.7 139.7 55.4 98.7 97.3 98.3 146.8 .. Worker remit. & comp. of employees .. .. .. 0.1 0.0 0.2 3.6 3.8 Imports of goods, services & income 341.3 281.8 165.0 343.9 460.4 449.3 544.5 .. Profit remittances on FDI 3.3 3.1 0.4 2.1 3.4 4.8 5.3 .. Current account balance -69.4 10.4 -50.2 -5.7 -134.0 -109.8 -211.5 .. International reserves 111.7 216.1 37.6 100.6 131.1 177.1 266.5 323.1 6. Ratios External debt stocks to exports (%) 928.7 831.6 1999.7 1338.6 1450.6 1480.8 983.4 .. External debt stocks to GNI (%) 81.2 117.6 153.2 170.3 155.1 149.5 123.9 38.9 Debt service to exports (%) 43.4 27.6 39.4 39.8 18.9 19.4 13.3 .. Short-term to external debt stocks (%) 1.5 1.3 5.9 2.6 2.7 0.9 1.3 1.4 Multilateral to external debt stocks (%) 72.7 80.1 80.4 80.3 79.6 80.9 80.6 62.1 Reserves to external debt stocks (%) 12.3 18.6 3.4 7.6 9.3 12.2 18.5 62.4 Reserves to imports (months) 3.9 9.2 2.7 3.5 3.4 4.7 5.9 .. 92 BURUNDI 7. Long-term external debt Debt outstanding and disbursed 851.0 1099.3 1036.0 1229.6 1291.4 1343.7 1308.0 419.8 Public and publicly guaranteed 851.0 1099.3 1036.0 1229.6 1291.4 1343.7 1308.0 419.8 Official creditors 841.6 1097.6 1032.0 1227.5 1290.8 1342.9 1308.0 419.8 Multilateral 659.8 930.5 890.4 1061.8 1124.0 1177.0 1163.8 321.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 398.0 591.4 600.5 750.8 797.0 830.1 818.5 147.2 Bilateral 181.8 167.1 141.6 165.7 166.9 165.9 144.2 98.0 Private creditors 9.4 1.6 4.0 2.1 0.6 0.7 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 1.3 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 95.7 44.8 41.3 42.1 39.4 31.3 24.8 23.6 Public and publicly guaranteed 95.7 44.8 41.3 42.1 39.4 31.3 24.8 23.6 Official creditors 93.4 44.8 38.2 42.1 36.9 31.3 24.8 23.6 Multilateral 63.5 40.6 38.2 42.1 36.9 29.8 24.3 23.6 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 48.7 27.3 36.4 27.4 28.9 19.2 13.8 8.7 Bilateral 29.8 4.2 0.0 0.0 0.0 1.5 0.5 0.0 Private creditors 2.4 0.0 3.0 0.0 2.5 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 27.5 17.8 9.4 27.1 12.9 11.2 11.3 8.3 Public and publicly guaranteed 27.5 17.8 9.4 27.1 12.9 11.2 11.3 8.3 Official creditors 19.2 16.9 9.4 22.5 8.9 11.2 11.3 8.3 Multilateral 11.3 11.8 9.4 22.3 8.9 10.7 10.0 8.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.9 2.9 8.8 8.5 0.0 0.0 0.1 0.1 Bilateral 7.9 5.1 0.0 0.2 0.0 0.6 1.3 0.0 Private creditors 8.3 0.9 0.0 4.6 4.0 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 5.2 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 12.2 11.0 4.5 11.9 5.1 7.3 7.4 3.6 Public and publicly guaranteed 12.2 11.0 4.5 11.9 5.1 7.3 7.4 3.6 Official creditors 11.1 10.9 4.5 11.9 5.1 7.3 7.4 3.6 Multilateral 9.0 8.5 4.5 11.7 4.5 5.6 6.2 3.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.6 4.6 4.4 4.3 1.7 2.4 3.7 1.0 Bilateral 2.1 2.4 0.0 0.2 0.6 1.7 1.2 0.5 Private creditors 1.1 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 0.5 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 18.1 34.6 -26.9 -68.5 90.0 43.9 -12.5 -925.2 Net flows on external debt 64.9 26.3 18.4 34.2 47.5 31.0 48.3 21.7 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 3.9 3.3 0.0 71.4 Total amount forgiven 105.4 16.7 0.0 11.5 28.2 22.4 48.0 821.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 15.8 14.4 14.1 17.3 16.3 18.6 18.5 17.8 Interest 3.8 3.8 3.7 3.6 3.5 3.4 3.2 3.0 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2009. Data for 2007, 2008, and 2009 include the effects of MDRI and HIPC debt relief, in the amount of $21,071 in thousands, $22,871 in thousands, and $655,538 in thousands respectively. 93 CAMBODIA 1. Summary external debt data External debt stocks 1,845 2,284 2,628 3,515 3,527 3,761 4,215 4,364 Long-term external debt 1,683 2,110 2,328 3,155 3,318 3,537 3,892 4,099 Public and publicly guaranteed 1,683 2,110 2,328 3,155 3,318 3,537 3,892 4,099 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 27 72 73 81 0 0 0 0 Short-term external debt 136 102 227 279 209 224 323 265 interest arrears on long-term 103 90 131 243 173 164 197 208 Memorandum items 393 653 1,275 1,485 1,508 1,545 1,599 1,613 1,683 2,110 2,328 3,155 3,318 3,537 3,892 4,099 0 0 0 0 0 0 0 0 0 161 185 208 149 390 305 717 External debt flows Disbursements 0 123 90 168 153 154 383 211 Long-term external debt 0 80 79 168 153 154 383 211 IMF purchases 0 42 11 0 0 0 0 0 Principal repayments 0 5 14 16 15 13 19 26 Long-term external debt 0 5 7 8 15 13 19 26 IMF repurchases 0 0 7 9 0 0 0 0 Net flows 15 100 128 154 138 165 430 116 Long-term external debt 0 75 72 160 138 141 364 185 Short-term external debt 15 -18 52 2 0 24 66 -69 Interest payments 30 3 18 15 15 18 23 23 Long-term external debt 29 1 12 12 13 15 21 22 IMF charges 0 1 1 0 0 0 0 0 Short-term external debt .. .. 5 2 2 3 2 .. 2. Other non-debt resource inflows Foreign direct investment .. 151 149 381 483 867 815 530 Portfolio equity .. .. 0 0 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.8 0.8 0.9 0.9 0.9 Japanese yen 0.6 0.4 0.3 1.1 1.2 1.5 2.0 2.4 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 12.6 27.2 30.2 39.4 39.0 39.0 40.1 40.6 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.8 1.3 1.4 1.0 1.5 1.2 1.3 Maturity (years) 0.0 37.5 30.3 26.9 26.2 23.6 29.4 25.4 Grace period (years) 0.0 9.7 8.2 9.2 9.8 7.7 8.6 3.3 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,115 3,380 3,535 6,039 6,963 8,271 9,896 9,688 Exports of goods, services & income .. 979 1,893 4,096 5,079 5,748 6,462 5,982 Worker remit. & comp. of employees .. 12 121 200 297 353 325 338 Imports of goods, services & income .. 1,442 2,453 4,923 5,971 6,830 8,127 7,422 Profit remittances on FDI .. 4 123 227 270 353 403 349 Current account balance .. -186 -136 -307 -262 -488 -1,051 .. International reserves .. 192 611 1,158 1,411 2,140 2,639 3,286 6. Ratios External debt stocks to exports (%) .. 233.3 138.8 85.8 69.4 65.4 65.2 72.9 External debt stocks to GNI (%) 165.5 67.6 74.3 58.2 50.7 45.5 42.6 45.0 Debt service to exports (%) .. 0.7 1.7 0.8 0.6 0.5 0.7 0.8 Short-term to external debt stocks (%) 7.3 4.5 8.6 7.9 5.9 6.0 7.7 6.1 Multilateral to external debt stocks (%) 0.1 5.2 14.5 30.1 33.1 34.5 33.7 34.4 Reserves to external debt stocks (%) .. 8.4 23.3 32.9 40.0 56.9 62.6 75.3 Reserves to imports (months) .. 1.6 3.0 2.8 2.8 3.8 3.9 5.3 94 CAMBODIA 7. Long-term external debt Debt outstanding and disbursed 1,683 2,110 2,328 3,155 3,318 3,537 3,892 4,099 Public and publicly guaranteed 1,683 2,110 2,328 3,155 3,318 3,537 3,892 4,099 Official creditors 1,683 2,097 2,328 3,155 3,318 3,537 3,892 4,099 Multilateral 1 118 381 1,059 1,168 1,298 1,420 1,501 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 65 207 462 500 535 545 566 Bilateral 1,681 1,979 1,947 2,096 2,150 2,239 2,472 2,598 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 79 168 153 154 383 211 Public and publicly guaranteed 0 80 79 168 153 154 383 211 Official creditors 0 64 79 168 153 154 383 211 Multilateral 0 61 78 130 79 78 145 92 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 25 37 36 19 18 20 23 Bilateral 0 4 1 38 74 76 238 119 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 8 15 13 19 26 Public and publicly guaranteed 0 5 7 8 15 13 19 26 Official creditors 0 2 7 8 15 13 19 26 Multilateral 0 0 0 5 9 11 17 23 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 2 4 5 6 6 Bilateral 0 2 7 2 6 2 2 3 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 12 13 15 21 22 Public and publicly guaranteed 29 1 12 12 13 15 21 22 Official creditors 29 1 12 12 13 15 21 22 Multilateral 0 1 3 10 10 11 13 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 3 3 4 8 9 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 166 375 111 76 11 234 454 149 Net flows on external debt 15 100 128 154 138 165 430 116 9. Debt restructurings Total amount rescheduled 0 224 0 0 0 1 0 0 Total amount forgiven 0 13 0 0 106 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 63 72 75 87 113 123 129 145 Interest 37 38 38 38 38 36 35 33 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Cambodia was granted debt relief effective in 2006 under MDRI. 95 CAMEROON 1. Summary external debt data External debt stocks 6,563 10,950 10,323 7,273 3,243 3,004 2,756 2,941 Long-term external debt 5,505 9,908 8,864 6,667 2,733 2,749 2,690 2,743 Public and publicly guaranteed 5,276 9,620 8,547 6,075 2,243 2,113 2,055 2,128 Private nonguaranteed 230 288 317 592 489 636 636 615 Use of IMF credit 121 51 235 272 8 17 24 175 Short-term external debt 936 991 1,224 334 502 238 41 23 interest arrears on long-term 168 349 205 280 434 39 41 23 Memorandum items 309 474 322 51 91 1 19 68 5,153 9,543 8,500 6,075 2,243 2,113 2,055 2,128 353 365 364 592 489 636 636 615 479 197 100 47 41 449 147 510 External debt flows Disbursements 704 174 354 231 162 270 287 487 Long-term external debt 704 161 286 227 158 262 279 339 IMF purchases 0 13 69 4 4 8 8 147 Principal repayments 269 217 270 576 376 369 358 336 Long-term external debt 268 211 253 537 355 369 358 336 IMF repurchases 1 6 17 39 21 0 0 0 Net flows 672 117 -21 -683 -200 32 -270 151 Long-term external debt 436 -50 33 -310 -197 -107 -79 3 Short-term external debt 237 160 -105 -339 14 131 -199 0 Interest payments 247 214 288 245 140 143 119 59 Long-term external debt 194 173 215 231 135 135 115 58 IMF charges 11 2 2 1 0 0 0 0 Short-term external debt 42 38 72 12 4 8 5 0 2. Other non-debt resource inflows Foreign direct investment -113 7 159 234 16 191 -60 340 Portfolio equity 0 0 0 -4 -6 -14 -1 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 65.9 76.9 72.7 65.7 63.7 Japanese yen 0.3 0.3 0.5 1.3 0.0 0.0 0.0 0.0 Pound sterling 2.4 1.2 2.0 1.7 0.0 0.0 0.0 0.0 Swiss franc 1.2 1.1 0.7 0.6 0.4 0.3 0.3 0.3 U.S.dollars 11.2 9.6 24.4 20.8 10.5 12.6 14.2 14.2 4. Average terms of new commitments Official creditors Interest (%) 6.6 2.6 0.9 0.4 1.4 0.9 0.7 1.3 Maturity (years) 15.3 23.3 38.6 30.7 24.3 37.2 37.0 30.0 Grace period (years) 5.3 7.7 9.5 9.2 5.6 8.6 9.3 7.6 Private creditors Interest (%) 7.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2 Maturity (years) 13.2 0.0 0.0 0.0 0.0 0.0 0.0 12.2 Grace period (years) 2.7 0.0 0.0 0.0 0.0 0.0 0.0 2.4 5. Major economic aggregates Gross national income (GNI) 10,674 8,205 9,464 16,126 17,706 20,193 22,585 21,602 Exports of goods, services & income 2,516 2,053 2,602 4,280 4,911 6,393 7,439 5,368 Worker remit. & comp. of employees 23 11 30 77 130 167 162 148 Imports of goods, services & income 3,041 2,032 2,960 5,010 5,031 6,552 8,487 6,897 Profit remittances on FDI 138 21 41 289 10 385 165 147 Current account balance -551 90 -249 -493 193 286 -450 -1,137 International reserves 37 15 220 965 1,735 2,932 3,112 3,708 6. Ratios External debt stocks to exports (%) 260.8 533.4 396.7 169.9 66.0 47.0 37.0 54.8 External debt stocks to GNI (%) 61.5 133.4 109.1 45.1 18.3 14.9 12.2 13.6 Debt service to exports (%) 20.5 21.0 21.5 19.2 10.5 8.0 6.4 7.4 Short-term to external debt stocks (%) 14.3 9.0 11.9 4.6 15.5 7.9 1.5 0.8 Multilateral to external debt stocks (%) 20.2 15.4 13.7 21.8 15.7 18.7 22.4 23.2 Reserves to external debt stocks (%) 0.6 0.1 2.1 13.3 53.5 97.6 113.0 126.1 Reserves to imports (months) 0.1 0.1 0.9 2.3 4.1 5.4 4.4 6.5 96 CAMEROON 7. Long-term external debt Debt outstanding and disbursed 5,505 9,908 8,864 6,667 2,733 2,749 2,690 2,743 Public and publicly guaranteed 5,276 9,620 8,547 6,075 2,243 2,113 2,055 2,128 Official creditors 3,809 8,734 8,227 5,989 2,179 2,111 2,052 2,117 Multilateral 1,323 1,684 1,419 1,585 510 562 618 682 of which: IBRD 651 639 218 84 46 40 35 30 IDA 238 443 769 1,032 170 198 225 273 Bilateral 2,486 7,050 6,808 4,403 1,669 1,549 1,435 1,435 Private creditors 1,467 885 320 87 65 3 2 11 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 390 300 175 43 46 2 2 11 Private nonguaranteed 230 288 317 592 489 636 636 615 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 704 161 286 227 158 262 279 339 Public and publicly guaranteed 651 161 247 130 119 180 192 130 Official creditors 546 161 247 130 118 180 192 122 Multilateral 200 81 115 68 84 83 106 93 of which: IBRD 75 6 0 0 0 0 0 0 IDA 0 35 55 31 29 20 29 48 Bilateral 347 80 133 62 34 97 86 29 Private creditors 105 0 0 0 1 0 0 8 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 10 0 0 0 1 0 0 8 Private nonguaranteed 53 0 39 98 39 82 87 209 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 268 211 253 537 355 369 358 336 Public and publicly guaranteed 138 183 166 396 194 186 166 107 Official creditors 96 146 162 395 194 167 165 107 Multilateral 68 130 97 92 86 40 41 39 of which: IBRD 42 91 53 32 39 5 5 5 IDA 3 4 7 12 6 0 1 2 Bilateral 28 16 66 303 108 127 125 68 Private creditors 41 36 4 0 0 19 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 28 25 4 0 0 16 0 0 Private nonguaranteed 130 28 86 141 161 183 192 229 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 194 173 215 231 135 135 115 58 Public and publicly guaranteed 177 163 198 181 79 93 70 27 Official creditors 122 152 198 180 79 70 70 27 Multilateral 73 80 48 27 20 16 14 11 of which: IBRD 49 56 22 5 4 2 2 2 IDA 2 3 5 8 5 2 2 2 Bilateral 49 72 149 153 59 54 56 16 Private creditors 55 10 1 1 0 23 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 39 5 1 0 0 23 0 0 Private nonguaranteed 17 11 17 51 57 42 44 31 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 -239 -3,025 -4,030 -239 -248 186 Net flows on external debt 672 117 -21 -683 -200 32 -270 151 9. Debt restructurings Total amount rescheduled 75 1,070 206 68 20 4 0 0 Total amount forgiven 10 0 7 166 4,292 144 16 65 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 196 176 153 138 139 150 131 125 Interest 57 53 50 47 45 42 39 36 Private creditors Principal 52 53 53 53 53 53 53 53 Interest 9 9 8 7 6 5 5 4 Notes: Cameroon was granted debt relief effective in 2006 under MDRI. 97 CAPE VERDE 1. Summary external debt data External debt stocks 133.8 213.8 316.5 475.2 522.1 578.7 624.6 707.2 Long-term external debt 129.1 184.6 312.6 461.9 508.4 564.0 610.8 694.7 Public and publicly guaranteed 129.1 184.6 312.6 461.9 508.4 564.0 610.8 694.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 12.3 13.0 13.5 12.4 11.0 Short-term external debt 4.7 29.2 3.9 0.9 0.7 1.3 1.4 1.5 interest arrears on long-term 2.3 4.6 3.9 0.9 0.7 1.3 1.4 1.5 Memorandum items 11.1 19.6 32.2 3.2 2.4 2.4 2.4 2.4 129.1 184.6 312.6 461.9 508.4 564.0 610.8 694.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35.9 11.5 33.9 88.8 27.4 209.9 379.0 251.8 External debt flows Disbursements 12.1 21.4 28.8 77.9 48.9 51.1 74.8 97.3 Long-term external debt 12.1 21.4 28.8 74.3 48.9 51.1 74.8 97.3 IMF purchases 0.0 0.0 0.0 3.7 0.0 0.0 0.0 0.0 Principal repayments 3.7 5.6 11.1 28.6 25.0 22.7 24.5 25.9 Long-term external debt 3.7 5.6 11.1 28.6 25.0 22.5 23.7 24.4 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.2 0.8 1.5 Net flows 10.7 34.4 2.0 49.3 23.9 28.4 50.4 71.4 Long-term external debt 8.3 15.8 17.7 45.7 23.9 28.6 51.1 72.9 Short-term external debt 2.4 18.7 -15.7 0.0 0.0 0.0 0.0 0.0 Interest payments 2.0 4.1 4.7 6.8 6.3 6.4 6.6 7.0 Long-term external debt 1.9 3.4 4.7 6.8 6.2 6.4 6.5 6.9 IMF charges 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 Short-term external debt 0.1 0.8 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 0.3 26.2 33.4 80.4 131.8 191.9 211.3 119.6 Portfolio equity 0.0 0.0 .. 0.0 0.3 2.2 0.0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.4 15.0 16.1 18.2 19.2 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 38.5 35.3 55.8 54.1 53.3 49.6 48.5 43.2 4. Average terms of new commitments Official creditors Interest (%) 1.5 0.8 2.0 3.5 2.9 1.3 2.0 1.6 Maturity (years) 42.6 39.8 31.3 32.5 38.1 25.7 26.9 26.6 Grace period (years) 9.1 10.3 10.4 8.4 9.0 8.2 6.7 7.2 Private creditors Interest (%) 0.0 0.0 5.7 0.0 0.0 0.0 0.0 1.7 Maturity (years) 0.0 0.0 10.6 0.0 0.0 0.0 0.0 33.0 Grace period (years) 0.0 0.0 2.2 0.0 0.0 0.0 0.0 12.8 5. Major economic aggregates Gross national income (GNI) 340.5 485.3 520.0 965.7 1062.9 1304.8 1484.4 1499.1 Exports of goods, services & income 63.2 87.5 150.9 377.5 497.0 599.4 744.6 .. Worker remit. & comp. of employees 59.1 105.9 86.9 136.6 136.6 138.9 155.1 149.2 Imports of goods, services & income 153.1 300.7 343.6 699.0 868.8 1099.0 1265.2 .. Profit remittances on FDI 0.0 0.5 5.1 10.9 24.1 28.2 38.2 .. Current account balance -3.8 -61.6 -58.0 -40.7 -82.7 -198.3 -205.5 .. International reserves 77.0 36.9 28.3 164.6 244.4 364.5 361.5 366.2 6. Ratios External debt stocks to exports (%) 211.5 244.4 209.7 125.9 105.0 96.6 83.9 .. External debt stocks to GNI (%) 39.3 44.1 60.9 49.2 49.1 44.4 42.1 47.2 Debt service to exports (%) 9.1 11.2 10.5 9.4 6.3 4.9 4.2 .. Short-term to external debt stocks (%) 3.5 13.7 1.2 0.2 0.1 0.2 0.2 0.2 Multilateral to external debt stocks (%) 65.0 67.3 72.4 78.8 78.9 78.6 77.3 75.3 Reserves to external debt stocks (%) 57.5 17.3 8.9 34.6 46.8 63.0 57.9 51.8 Reserves to imports (months) 6.0 1.5 1.0 2.8 3.4 4.0 3.4 .. 98 CAPE VERDE 7. Long-term external debt Debt outstanding and disbursed 129.1 184.6 312.6 461.9 508.4 564.0 610.8 694.7 Public and publicly guaranteed 129.1 184.6 312.6 461.9 508.4 564.0 610.8 694.7 Official creditors 126.6 178.2 305.2 440.3 491.1 549.2 600.9 688.2 Multilateral 87.0 143.9 229.2 374.7 411.8 454.8 482.9 532.4 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 13.6 33.0 97.9 205.1 235.9 267.4 283.8 286.4 Bilateral 39.6 34.2 75.9 65.6 79.3 94.3 117.9 155.8 Private creditors 2.5 6.4 7.5 21.6 17.3 14.8 9.9 6.5 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 1.8 1.5 1.0 0.3 0.2 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 Disbursements 12.1 21.4 28.8 74.3 48.9 51.1 74.8 97.3 Public and publicly guaranteed 12.1 21.4 28.8 74.3 48.9 51.1 74.8 97.3 Official creditors 12.1 17.1 28.8 64.9 48.8 51.1 74.8 97.3 Multilateral 6.0 14.9 23.5 48.8 30.0 34.5 36.6 58.6 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 27.2 22.1 22.7 20.8 3.8 Bilateral 6.1 2.2 5.3 16.1 18.7 16.6 38.2 38.7 Private creditors 0.0 4.2 0.0 9.4 0.1 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 0.9 0.1 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 3.7 5.6 11.1 28.6 25.0 22.5 23.7 24.4 Public and publicly guaranteed 3.7 5.6 11.1 28.6 25.0 22.5 23.7 24.4 Official creditors 3.6 5.6 9.3 23.2 18.5 18.3 19.3 20.8 Multilateral 2.5 4.8 6.1 12.2 8.6 9.3 10.4 13.7 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 1.4 1.5 1.8 2.6 3.3 Bilateral 1.1 0.8 3.2 11.0 9.9 9.0 9.0 7.1 Private creditors 0.1 0.0 1.8 5.4 6.5 4.2 4.3 3.6 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 1.4 0.6 0.6 0.7 0.1 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 1.9 3.4 4.7 6.8 6.2 6.4 6.5 6.9 Public and publicly guaranteed 1.9 3.4 4.7 6.8 6.2 6.4 6.5 6.9 Official creditors 1.9 3.4 3.8 5.7 5.7 6.1 6.3 6.7 Multilateral 1.2 3.3 2.7 4.2 4.1 4.3 4.7 4.9 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 1.6 1.7 1.8 2.1 2.0 Bilateral 0.7 0.1 1.1 1.6 1.6 1.8 1.6 1.9 Private creditors 0.0 0.0 0.9 1.0 0.5 0.3 0.3 0.2 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 0.5 0.1 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 8. Debt stock-flow reconciliation Total change in external debt stocks 7.7 37.9 -8.7 13.6 46.9 56.6 45.8 82.7 Net flows on external debt 10.7 34.4 2.0 49.3 23.9 28.4 50.4 71.4 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 9.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 24.0 24.5 22.7 41.3 42.7 46.1 45.7 47.0 Interest 10.1 12.6 14.1 14.7 14.6 14.3 13.7 13.1 Private creditors Principal 3.6 2.3 0.5 0.0 0.0 0.0 0.0 0.0 Interest 0.1 1.0 2.2 2.4 2.5 2.5 2.5 2.5 99 CENTRAL AFRICAN REPUBLIC 1. Summary external debt data External debt stocks 698.5 946.0 860.0 1019.9 1010.2 964.2 955.1 396.0 Long-term external debt 624.1 853.9 797.3 877.5 868.5 849.0 817.1 250.4 Public and publicly guaranteed 624.1 853.9 797.3 877.5 868.5 849.0 817.1 250.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 36.7 34.9 21.5 35.9 42.1 49.4 63.0 78.4 Short-term external debt 37.7 57.1 41.2 106.6 99.6 65.8 75.0 67.2 interest arrears on long-term 15.0 35.7 26.1 97.6 90.6 65.8 63.0 63.2 Memorandum items 23.2 74.2 97.7 227.1 218.7 170.8 158.2 156.6 624.1 853.7 796.3 876.1 867.0 847.4 817.1 250.4 0.0 0.3 1.0 1.3 1.5 1.6 0.0 0.0 174.9 16.6 28.0 0.0 0.0 0.0 0.0 0.0 External debt flows Disbursements 121.1 32.6 16.1 0.0 10.2 34.9 24.9 43.5 Long-term external debt 112.8 32.6 16.1 0.0 0.0 3.2 1.9 3.8 IMF purchases 8.3 0.0 0.0 0.0 10.2 31.7 23.0 39.6 Principal repayments 17.4 10.0 8.3 5.3 52.7 68.7 19.4 28.2 Long-term external debt 7.6 2.6 7.5 0.4 46.7 42.1 11.7 8.9 IMF repurchases 9.8 7.4 0.8 4.9 6.0 26.7 7.7 19.4 Net flows 106.6 25.1 -13.8 -5.3 -42.5 -42.9 17.5 7.2 Long-term external debt 105.2 30.0 8.6 -0.4 -46.7 -38.9 -9.8 -5.0 Short-term external debt 2.9 2.4 -21.6 0.0 0.0 -9.0 12.0 -8.0 Interest payments 11.8 5.7 5.9 0.9 17.7 20.2 6.6 3.6 Long-term external debt 9.0 3.5 4.3 0.1 16.5 19.6 6.1 3.2 IMF charges 1.2 1.0 0.1 0.4 0.9 0.4 0.3 0.3 Short-term external debt 1.6 1.2 1.4 0.3 0.3 0.2 0.2 0.1 2. Other non-debt resource inflows Foreign direct investment 0.7 6.2 0.8 32.4 34.6 56.7 117.1 42.3 Portfolio equity 0.0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.9 6.3 3.8 3.4 5.3 Japanese yen 0.7 0.7 0.7 0.6 0.6 0.3 0.4 0.0 Pound sterling 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.0 Swiss franc 2.6 2.8 2.2 2.5 2.7 2.2 2.3 4.7 U.S.dollars 43.6 56.2 61.2 59.6 57.5 61.9 63.1 56.6 4. Average terms of new commitments Official creditors Interest (%) 1.0 0.8 0.8 0.0 0.0 0.0 0.0 0.0 Maturity (years) 37.6 39.7 39.8 0.0 0.0 0.0 0.0 0.0 Grace period (years) 10.2 10.2 10.3 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1465.1 1100.9 946.8 1348.0 1472.9 1701.9 1965.8 1983.3 Exports of goods, services & income 220.4 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0.1 .. .. .. .. .. .. .. Imports of goods, services & income 432.5 .. .. .. .. 381.4 464.5 .. Profit remittances on FDI 2.1 .. .. .. .. .. .. .. Current account balance -89.1 .. .. .. .. .. .. .. International reserves 122.9 237.9 136.3 144.9 132.4 91.9 131.5 222.7 6. Ratios External debt stocks to exports (%) 317.0 .. .. .. .. .. .. .. External debt stocks to GNI (%) 47.7 85.9 90.8 75.7 68.6 56.7 48.6 20.0 Debt service to exports (%) 13.2 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 5.4 6.0 4.8 10.5 9.9 6.8 7.8 17.0 Multilateral to external debt stocks (%) 65.2 67.3 67.8 61.6 60.7 62.6 60.2 15.1 Reserves to external debt stocks (%) 17.6 25.2 15.9 14.2 13.1 9.5 13.8 56.2 Reserves to imports (months) 3.4 .. .. .. .. 2.9 3.4 .. 100 CENTRAL AFRICAN REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 624.1 853.9 797.3 877.5 868.5 849.0 817.1 250.4 Public and publicly guaranteed 624.1 853.9 797.3 877.5 868.5 849.0 817.1 250.4 Official creditors 602.6 835.6 764.8 843.4 834.1 814.3 782.6 216.0 Multilateral 455.5 636.2 583.3 628.6 612.7 603.5 574.9 59.6 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 265.1 414.0 391.3 422.7 395.1 402.8 389.9 9.0 Bilateral 147.0 199.4 181.5 214.8 221.4 210.8 207.7 156.4 Private creditors 21.6 18.4 32.6 34.1 34.4 34.7 34.5 34.4 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 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 3.2 1.9 3.8 Public and publicly guaranteed 112.8 32.6 16.1 0.0 0.0 3.2 1.9 3.8 Official creditors 112.8 32.6 16.1 0.0 0.0 3.2 1.9 3.8 Multilateral 95.2 32.6 16.1 0.0 0.0 3.2 1.9 3.8 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 3.2 1.9 3.8 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 0.4 46.7 42.1 11.7 8.9 Public and publicly guaranteed 7.6 2.6 7.5 0.4 46.7 42.1 11.7 8.9 Official creditors 7.0 2.6 7.4 0.4 46.7 42.1 11.7 8.9 Multilateral 3.2 2.6 6.9 0.4 46.7 42.1 8.9 5.5 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 46.7 9.6 3.1 1.7 Bilateral 3.8 0.0 0.5 0.0 0.0 0.0 2.8 3.4 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 0.0 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 0.1 16.5 19.6 6.1 3.2 Public and publicly guaranteed 9.0 3.5 4.3 0.1 16.5 19.6 6.1 3.2 Official creditors 8.1 3.5 4.3 0.1 16.5 19.6 6.1 3.2 Multilateral 5.1 3.5 3.4 0.1 16.5 19.6 4.4 2.4 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 16.5 3.3 3.1 1.6 Bilateral 3.1 0.0 0.9 0.0 0.0 0.0 1.7 0.9 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 8. Debt stock-flow reconciliation Total change in external debt stocks 5.0 57.9 -51.4 -58.9 -9.7 -46.0 -9.1 -559.1 Net flows on external debt 106.6 25.1 -13.8 -5.3 -42.5 -42.9 17.5 7.2 9. Debt restructurings Total amount rescheduled 4.4 7.6 2.9 0.0 0.0 20.8 3.2 0.0 Total amount forgiven 157.5 1.3 0.7 0.0 0.0 8.2 14.1 519.5 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 3.3 3.7 3.8 3.8 4.0 4.0 4.3 4.4 Interest 1.7 1.6 1.6 1.5 1.5 1.4 1.3 1.2 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public debt for 2009 are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreements signed in 2007 and in 2009. Data for 2007, 2008, and 2009 include the effects of MDRI and HIPC debt relief, in the amount of $1,510 in thousands, $9,416 in thousands, and $380,659 in thousands respectively. 101 CHAD 1. Summary external debt data External debt stocks 514 843 1,090 1,585 1,707 1,797 1,749 1,743 Long-term external debt 454 777 987 1,495 1,628 1,712 1,705 1,711 Public and publicly guaranteed 454 777 987 1,495 1,628 1,712 1,705 1,711 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 30 49 78 79 68 56 41 29 Short-term external debt 30 17 25 11 12 29 4 4 interest arrears on long-term 6 9 10 6 8 6 4 4 Memorandum items 16 36 52 26 24 22 26 28 454 777 987 1,495 1,628 1,712 1,705 1,711 0 0 0 0 0 0 0 0 83 116 178 134 7 141 11 3 External debt flows Disbursements 103 73 59 116 102 50 97 35 Long-term external debt 94 61 46 110 102 50 97 35 IMF purchases 8 13 14 6 0 0 0 0 Principal repayments 7 10 14 38 40 49 119 55 Long-term external debt 3 3 13 24 24 34 105 42 IMF repurchases 4 7 1 13 16 15 14 13 Net flows 98 63 44 75 61 21 -45 -19 Long-term external debt 91 57 33 85 78 17 -8 -7 Short-term external debt 2 0 -2 -3 -1 19 -23 0 Interest payments 5 5 10 17 17 19 19 23 Long-term external debt 3 4 9 16 16 19 18 23 IMF charges 0 1 0 0 0 0 0 0 Short-term external debt 2 1 1 0 0 1 0 0 2. Other non-debt resource inflows Foreign direct investment 9 33 115 -99 -279 -69 234 462 Portfolio equity 0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.3 3.9 3.6 3.3 3.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 49.6 54.8 58.6 66.1 65.0 64.4 60.2 59.8 4. Average terms of new commitments Official creditors Interest (%) 1.8 1.0 0.7 1.6 0.0 1.3 0.0 2.0 Maturity (years) 31.0 38.0 40.5 23.8 28.6 19.9 24.0 24.6 Grace period (years) 9.1 8.7 10.1 6.6 9.1 6.9 6.5 5.1 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,721 1,441 1,368 4,435 5,125 5,808 6,699 6,090 Exports of goods, services & income 274 .. .. 3,234 3,714 3,791 4,367 2,825 Worker remit. & comp. of employees 1 .. .. .. .. .. .. .. Imports of goods, services & income 511 .. .. 3,191 3,366 4,814 5,818 5,456 Profit remittances on FDI 0 .. .. .. .. .. .. .. Current account balance -46 .. .. .. .. .. .. .. International reserves 132 147 114 231 632 964 1,355 629 6. Ratios External debt stocks to exports (%) 187.5 .. .. 49.0 46.0 47.4 40.1 61.7 External debt stocks to GNI (%) 29.9 58.5 79.7 35.7 33.3 30.9 26.1 28.6 Debt service to exports (%) 4.3 .. .. 1.7 1.5 1.8 3.2 2.8 Short-term to external debt stocks (%) 5.8 2.0 2.3 0.7 0.7 1.6 0.2 0.2 Multilateral to external debt stocks (%) 65.5 76.5 76.6 84.5 84.9 85.0 84.0 84.9 Reserves to external debt stocks (%) 25.7 17.4 10.4 14.6 37.0 53.7 77.5 36.1 Reserves to imports (months) 3.1 .. .. 0.9 2.3 2.4 2.8 1.4 102 CHAD 7. Long-term external debt Debt outstanding and disbursed 454 777 987 1,495 1,628 1,712 1,705 1,711 Public and publicly guaranteed 454 777 987 1,495 1,628 1,712 1,705 1,711 Official creditors 446 775 972 1,463 1,595 1,679 1,672 1,679 Multilateral 337 645 834 1,340 1,450 1,527 1,469 1,479 of which: IBRD 0 0 0 35 30 26 0 0 IDA 186 379 515 864 925 968 905 896 Bilateral 109 131 138 123 145 152 203 199 Private creditors 8 2 15 32 33 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 46 110 102 50 97 35 Public and publicly guaranteed 94 61 46 110 102 50 97 35 Official creditors 94 61 46 110 102 50 97 35 Multilateral 72 61 36 108 71 39 38 32 of which: IBRD 0 0 0 1 0 0 0 0 IDA 48 42 18 64 31 16 5 3 Bilateral 22 0 10 2 31 12 59 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 Principal repayments 3 3 13 24 24 34 105 42 Public and publicly guaranteed 3 3 13 24 24 34 105 42 Official creditors 3 3 13 23 24 33 105 42 Multilateral 3 3 10 17 18 28 100 36 of which: IBRD 0 0 0 2 5 5 26 0 IDA 1 1 4 4 5 7 62 17 Bilateral 0 1 3 5 6 5 6 6 Private creditors 1 0 1 1 1 1 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 4 9 16 16 19 18 23 Public and publicly guaranteed 3 4 9 16 16 19 18 23 Official creditors 3 4 9 16 16 18 18 23 Multilateral 2 3 6 14 13 15 15 19 of which: IBRD 0 0 0 1 2 2 1 0 IDA 1 3 3 6 6 7 8 7 Bilateral 1 0 3 2 3 3 4 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 -56 122 90 -48 -6 Net flows on external debt 98 63 44 75 61 21 -45 -19 9. Debt restructurings Total amount rescheduled 8 46 0 12 0 0 0 0 Total amount forgiven 12 62 0 18 22 5 4 5 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 62 65 70 72 80 85 81 82 Interest 19 19 18 17 16 15 14 13 Private creditors Principal 6 2 2 2 2 2 1 0 Interest 0 0 0 0 0 0 0 0 Notes: Data for 2007 include the effects of Enhanced HIPC Initiative, in the amount of $3,612 in thousands. 103 CHILE 1. Summary external debt data External debt stocks 19,226 22,038 37,261 45,446 48,052 56,443 64,297 71,646 Long-term external debt 14,687 18,607 31,089 38,357 38,734 45,387 49,387 54,170 Public and publicly guaranteed 10,425 7,178 5,228 9,173 9,390 9,325 8,782 9,282 Private nonguaranteed 4,263 11,429 25,861 29,184 29,344 36,062 40,605 44,888 Use of IMF credit 1,156 0 0 0 0 0 0 0 Short-term external debt 3,382 3,431 6,172 7,089 9,318 11,056 14,910 17,476 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 10,421 7,178 5,148 9,170 9,377 9,313 8,773 9,276 4,267 11,429 25,941 29,188 29,357 36,073 40,613 44,894 1,049 314 324 995 1,423 894 1,063 1,927 External debt flows Disbursements 2,253 3,821 4,966 9,156 12,620 13,201 17,314 18,117 Long-term external debt 2,253 3,821 4,966 9,156 12,620 13,201 17,314 18,117 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 980 3,671 3,938 6,075 12,553 9,222 13,863 13,611 Long-term external debt 771 3,369 3,938 6,075 12,553 9,222 13,863 13,611 IMF repurchases 208 303 0 0 0 0 0 0 Net flows 1,682 -284 2,883 2,718 2,296 5,717 7,304 7,072 Long-term external debt 1,481 452 1,028 3,081 67 3,979 3,450 4,506 Short-term external debt 409 -434 1,855 -363 2,229 1,738 3,854 2,566 Interest payments 1,792 1,293 2,235 1,510 1,993 2,276 2,023 1,672 Long-term external debt 1,364 1,114 2,081 1,290 1,655 1,723 1,634 1,218 IMF charges 118 13 0 0 0 0 0 0 Short-term external debt 310 165 154 221 338 553 389 454 2. Other non-debt resource inflows Foreign direct investment 661 2,957 4,860 6,984 7,298 12,534 15,181 12,702 Portfolio equity 367 -249 -427 1,571 -124 388 1,904 316 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.0 1.1 1.2 1.1 1.0 Japanese yen 8.2 9.5 5.0 0.4 2.5 2.2 0.0 0.0 Pound sterling 3.4 2.9 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.6 0.9 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 40.2 42.0 84.2 98.0 95.8 96.0 98.2 98.5 4. Average terms of new commitments Official creditors Interest (%) 7.7 6.1 1.0 4.2 5.2 5.1 2.8 0.0 Maturity (years) 18.8 19.5 17.0 13.1 13.1 15.7 9.8 0.0 Grace period (years) 4.3 5.8 1.5 4.7 6.0 5.5 5.7 0.0 Private creditors Interest (%) 9.3 6.8 7.0 5.1 5.8 5.6 4.7 4.5 Maturity (years) 7.6 10.9 6.3 19.2 15.7 6.4 5.6 6.5 Grace period (years) 2.3 3.0 3.0 18.2 13.0 5.0 2.2 5.9 5. Major economic aggregates Gross national income (GNI) 29,800 68,637 72,333 107,763 128,372 145,691 157,427 153,364 Exports of goods, services & income 10,705 20,226 24,891 50,853 69,885 83,259 83,545 67,595 Worker remit. & comp. of employees 0 .. 13 13 3 3 3 4 Imports of goods, services & income 11,387 21,883 26,346 51,187 66,137 78,930 88,992 64,994 Profit remittances on FDI 387 2,178 2,539 11,416 19,913 22,832 17,419 14,088 Current account balance -485 -1,350 -898 1,449 7,154 7,458 -2,513 4,217 International reserves 6,784 14,860 15,055 16,933 19,397 16,843 23,079 25,292 6. Ratios External debt stocks to exports (%) 179.6 109.0 149.7 89.4 68.8 67.8 77.0 106.0 External debt stocks to GNI (%) 64.5 32.1 51.5 42.2 37.4 38.7 40.8 46.7 Debt service to exports (%) 25.9 24.5 24.8 14.9 20.8 13.8 19.0 22.6 Short-term to external debt stocks (%) 17.6 15.6 16.6 15.6 19.4 19.6 23.2 24.4 Multilateral to external debt stocks (%) 21.5 13.0 3.8 1.8 1.9 1.6 1.2 1.2 Reserves to external debt stocks (%) 35.3 67.4 40.4 37.3 40.4 29.8 35.9 35.3 Reserves to imports (months) 7.1 8.1 6.9 4.0 3.5 2.6 3.1 4.7 104 CHILE 7. Long-term external debt Debt outstanding and disbursed 14,687 18,607 31,089 38,357 38,734 45,387 49,387 54,170 Public and publicly guaranteed 10,425 7,178 5,228 9,173 9,390 9,325 8,782 9,282 Official creditors 5,182 3,582 1,887 1,089 1,151 1,136 1,004 1,041 Multilateral 4,143 2,871 1,406 827 897 907 793 848 of which: IBRD 1,860 1,372 808 289 346 354 200 215 IDA 14 11 7 4 3 2 2 1 Bilateral 1,039 711 481 262 254 229 211 193 Private creditors 5,242 3,596 3,341 8,084 8,239 8,189 7,778 8,241 of which: Bonds 39 0 0 5,406 5,938 5,401 4,513 5,413 Commercial banks 4,747 3,509 3,273 2,678 2,301 2,788 3,264 2,827 Private nonguaranteed 4,263 11,429 25,861 29,184 29,344 36,062 40,605 44,888 of which: Bonds 0 866 6,339 4,761 4,779 6,385 5,585 6,584 Disbursements 2,253 3,821 4,966 9,156 12,620 13,201 17,314 18,117 Public and publicly guaranteed 708 342 369 1,197 1,186 689 1,030 2,403 Official creditors 650 194 147 176 112 64 132 109 Multilateral 583 146 113 162 92 47 126 109 of which: IBRD 251 83 48 55 62 14 53 29 IDA 0 0 0 0 0 0 0 0 Bilateral 67 48 34 14 20 16 6 0 Private creditors 58 148 221 1,022 1,074 626 899 2,293 of which: Bonds 0 0 0 500 650 0 0 900 Commercial banks 37 141 221 522 424 626 899 1,393 Private nonguaranteed 1,545 3,479 4,597 7,959 11,434 12,512 16,283 15,714 of which: Bonds 0 500 672 700 813 250 100 1,400 Principal repayments 771 3,369 3,938 6,075 12,553 9,222 13,863 13,611 Public and publicly guaranteed 500 2,277 757 1,364 976 742 1,592 1,906 Official creditors 356 2,003 277 371 61 58 261 75 Multilateral 263 1,884 177 345 23 40 243 54 of which: IBRD 119 704 115 206 5 6 207 14 IDA 1 1 1 1 1 1 1 1 Bilateral 93 119 100 26 38 18 17 21 Private creditors 144 273 480 993 914 684 1,332 1,830 of which: Bonds 7 0 0 422 118 537 888 0 Commercial banks 32 240 479 546 797 147 444 1,830 Private nonguaranteed 271 1,092 3,181 4,711 11,578 8,480 12,271 11,705 of which: Bonds 0 11 0 195 765 575 900 400 Interest payments 1,364 1,114 2,081 1,290 1,655 1,723 1,634 1,218 Public and publicly guaranteed 1,112 653 377 460 495 530 529 422 Official creditors 384 387 138 49 49 55 46 40 Multilateral 313 348 112 43 43 50 42 31 of which: IBRD 130 137 70 16 17 20 13 6 IDA 0 0 0 0 0 0 0 0 Bilateral 71 39 26 6 6 5 5 9 Private creditors 729 266 239 411 446 475 483 383 of which: Bonds 2 0 0 299 313 336 249 281 Commercial banks 688 258 234 112 134 138 234 102 Private nonguaranteed 252 461 1,704 829 1,160 1,194 1,105 795 of which: Bonds 0 26 440 347 359 471 412 369 8. Debt stock-flow reconciliation Total change in external debt stocks 1,193 -117 2,467 1,672 2,606 8,391 7,854 7,349 Net flows on external debt 1,682 -284 2,883 2,718 2,296 5,717 7,304 7,072 9. Debt restructurings Total amount rescheduled 4,172 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 192 122 77 101 153 154 153 147 Interest 29 28 27 26 24 22 19 16 Private creditors Principal 13,678 5,608 6,468 5,606 3,809 2,298 1,278 1,153 Interest 1,647 1,439 1,310 978 880 1,755 600 800 Notes: Short-term debt is based on reports provided by the country. 105 CHINA 1. Summary external debt data External debt stocks 55,301 118,090 145,711 283,986 325,260 373,773 378,245 428,442 Long-term external debt 45,515 95,764 132,631 135,719 151,883 170,075 191,057 187,933 Public and publicly guaranteed 45,515 94,674 94,842 85,227 88,217 87,791 89,282 93,125 Private nonguaranteed 0 1,090 37,789 50,492 63,666 82,284 101,774 94,808 Use of IMF credit 469 0 0 0 0 0 0 0 Short-term external debt 9,317 22,325 13,080 148,267 173,377 203,698 187,188 240,509 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 45,449 93,573 94,842 84,968 87,972 87,619 89,125 92,982 66 2,192 37,789 50,751 63,910 82,456 101,932 94,951 9,988 22,812 10,702 10,233 6,275 6,927 6,010 7,273 External debt flows Disbursements 9,665 21,985 16,776 29,228 26,524 36,339 38,188 23,105 Long-term external debt 9,665 21,985 16,776 29,228 26,524 36,339 38,188 23,105 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 3,809 9,070 19,924 20,846 18,120 20,790 25,143 34,478 Long-term external debt 3,319 9,070 19,924 20,846 18,120 20,790 25,143 34,478 IMF repurchases 490 0 0 0 0 0 0 0 Net flows 8,267 17,758 -5,247 40,878 33,514 45,870 -3,465 41,948 Long-term external debt 6,346 12,915 -3,147 8,381 8,404 15,549 13,045 -11,373 Short-term external debt 2,410 4,842 -2,100 32,497 25,110 30,321 -16,510 53,321 Interest payments 3,248 5,996 7,165 6,519 9,359 11,395 9,246 7,352 Long-term external debt 2,534 4,657 5,998 3,218 3,818 5,454 4,760 4,144 IMF charges 65 0 0 0 0 0 0 0 Short-term external debt 649 1,340 1,168 3,302 5,541 5,942 4,486 3,208 2. Other non-debt resource inflows Foreign direct investment 3,487 35,849 38,399 79,127 78,095 138,413 147,791 78,193 Portfolio equity 0 0 6,912 20,346 42,861 18,510 8,721 28,161 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.0 8.4 8.1 6.6 6.2 Japanese yen 30.4 20.7 16.9 13.5 12.0 8.4 9.1 7.9 Pound sterling 0.7 0.2 0.1 0.1 0.1 0.1 0.0 0.0 Swiss franc 0.2 0.0 0.1 0.1 0.1 0.0 0.0 0.0 U.S.dollars 29.1 58.1 71.5 74.7 76.3 80.6 81.7 83.8 4. Average terms of new commitments Official creditors Interest (%) 3.7 6.8 7.2 4.3 5.4 5.4 3.6 1.8 Maturity (years) 27.9 18.3 21.1 22.5 22.7 21.8 23.0 25.9 Grace period (years) 7.9 3.7 4.9 5.5 5.7 5.4 5.8 5.8 Private creditors Interest (%) 8.6 6.3 5.9 4.6 5.0 4.1 4.6 5.0 Maturity (years) 13.3 7.3 17.0 9.1 14.4 9.0 13.0 14.5 Grace period (years) 2.7 2.4 1.8 5.2 0.9 1.4 1.1 0.9 5. Major economic aggregates Gross national income (GNI) 357,992 716,233 1,183,815 2,267,698 2,732,021 3,531,214 4,564,224 4,937,980 Exports of goods, services & income 60,391 152,431 292,111 875,847 1,116,323 1,425,236 1,673,328 1,441,928 Worker remit. & comp. of employees 175 878 5,237 24,102 27,954 38,791 48,524 47,553 Imports of goods, services & income 48,668 152,248 277,904 740,414 892,255 1,092,071 1,293,020 1,178,534 Profit remittances on FDI 46 9,953 20,198 21,040 29,236 43,711 48,866 54,783 Current account balance 11,997 1,618 20,518 160,818 253,268 371,833 426,107 .. International reserves 34,476 80,288 171,763 831,410 1,080,756 1,546,365 1,966,037 2,452,899 6. Ratios External debt stocks to exports (%) 91.6 77.5 49.9 32.4 29.1 26.2 22.6 29.7 External debt stocks to GNI (%) 15.4 16.5 12.3 12.5 11.9 10.6 8.3 8.7 Debt service to exports (%) 11.7 9.9 9.3 3.1 2.5 2.3 2.1 2.9 Short-term to external debt stocks (%) 16.8 18.9 9.0 52.2 53.3 54.5 49.5 56.1 Multilateral to external debt stocks (%) 11.1 13.8 17.7 9.3 8.5 7.8 8.1 7.7 Reserves to external debt stocks (%) 62.3 68.0 117.9 292.8 332.3 413.7 519.8 572.5 Reserves to imports (months) 8.5 6.3 7.4 13.5 14.5 17.0 18.2 25.0 106 CHINA 7. Long-term external debt Debt outstanding and disbursed 45,515 95,764 132,631 135,719 151,883 170,075 191,057 187,933 Public and publicly guaranteed 45,515 94,674 94,842 85,227 88,217 87,791 89,282 93,125 Official creditors 14,514 36,982 50,374 52,215 55,333 58,375 63,128 68,079 Multilateral 6,111 16,302 25,811 26,413 27,738 29,258 30,655 33,156 of which: IBRD 2,865 7,209 11,118 11,140 11,415 11,762 12,464 12,705 IDA 3,016 7,038 8,771 9,741 9,997 10,151 9,786 9,521 Bilateral 8,403 20,680 24,563 25,802 27,595 29,117 32,473 34,923 Private creditors 31,001 57,693 44,467 33,012 32,884 29,416 26,154 25,046 of which: Bonds 5,425 10,684 11,371 16,039 16,382 16,566 13,925 10,826 Commercial banks 14,520 23,869 10,619 3,247 3,763 3,030 2,868 2,735 Private nonguaranteed 0 1,090 37,789 50,492 63,666 82,284 101,774 94,808 of which: Bonds 0 1,090 1,068 3,574 5,279 6,018 5,970 7,020 Disbursements 9,665 21,985 16,776 29,228 26,524 36,339 38,188 23,105 Public and publicly guaranteed 9,665 21,441 9,694 9,776 6,278 6,562 5,449 5,938 Official creditors 2,578 9,073 5,790 2,169 3,588 2,835 3,893 3,310 Multilateral 1,158 2,838 3,303 2,010 2,153 2,425 2,870 2,657 of which: IBRD 591 1,457 1,528 1,061 1,134 1,194 1,604 1,290 IDA 507 812 379 70 34 14 9 1 Bilateral 1,420 6,235 2,487 159 1,434 410 1,023 653 Private creditors 7,087 12,368 3,904 7,606 2,690 3,727 1,556 2,628 of which: Bonds 277 1,224 848 4,208 0 1,456 0 0 Commercial banks 3,247 4,977 131 2,161 17 215 27 46 Private nonguaranteed 0 544 7,082 19,452 20,246 29,777 32,739 17,167 of which: Bonds 0 544 390 1,622 1,945 740 0 925 Principal repayments 3,319 9,070 19,924 20,846 18,120 20,790 25,143 34,478 Public and publicly guaranteed 3,319 9,070 10,797 6,569 6,520 5,727 7,934 6,472 Official creditors 851 1,171 4,270 1,323 2,684 2,855 2,990 2,594 Multilateral 220 420 1,400 1,195 1,333 1,397 1,520 1,602 of which: IBRD 216 350 578 787 901 908 971 992 IDA 0 14 66 217 243 276 309 331 Bilateral 631 751 2,870 128 1,351 1,458 1,470 992 Private creditors 2,468 7,899 6,527 5,246 3,836 2,872 4,944 3,878 of which: Bonds 325 1,451 443 550 0 479 1,746 500 Commercial banks 808 2,645 2,016 1,936 149 676 264 200 Private nonguaranteed 0 0 9,127 14,277 11,600 15,063 17,209 28,006 of which: Bonds 0 0 534 370 240 0 350 464 Interest payments 2,534 4,657 5,998 3,218 3,818 5,454 4,760 4,144 Public and publicly guaranteed 2,534 4,623 4,074 2,201 2,304 3,227 2,540 2,107 Official creditors 531 1,288 2,386 1,375 1,427 1,690 1,407 1,090 Multilateral 226 619 1,518 680 935 1,105 1,009 733 of which: IBRD 200 460 713 351 542 653 553 363 IDA 19 49 65 79 74 74 79 69 Bilateral 305 669 867 695 492 586 398 358 Private creditors 2,003 3,335 1,688 826 877 1,537 1,133 1,017 of which: Bonds 367 594 521 430 502 778 445 557 Commercial banks 959 1,333 222 71 80 182 33 42 Private nonguaranteed 0 33 1,924 1,017 1,514 2,227 2,220 2,037 of which: Bonds 0 33 93 248 343 445 431 445 8. Debt stock-flow reconciliation Total change in external debt stocks 10,369 17,633 -6,354 36,307 41,274 48,513 4,472 50,198 Net flows on external debt 8,267 17,758 -5,247 40,878 33,514 45,870 -3,465 41,948 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6,665 6,171 6,243 5,841 5,829 5,670 5,428 5,326 Interest 2,085 1,863 1,668 1,480 1,305 1,133 968 808 Private creditors Principal 30,633 23,422 18,654 12,102 11,167 9,808 5,633 4,000 Interest 5,363 4,062 2,940 2,190 1,631 1,081 602 304 Notes: Data on long-term public and publicly guaranteed, long-term private nonguaranteed and short-term debt for 2009 are World Bank staff estimates based on aggregate information provided by the authority. 107 COLOMBIA 1. Summary external debt data External debt stocks 17,222 25,044 33,937 37,720 38,024 43,675 46,551 52,223 Long-term external debt 15,784 19,499 31,066 31,544 33,261 38,514 40,918 48,113 Public and publicly guaranteed 14,671 13,946 20,806 22,555 24,720 27,402 28,960 35,364 Private nonguaranteed 1,113 5,553 10,259 8,989 8,541 11,112 11,958 12,749 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 1,438 5,545 2,871 6,176 4,763 5,161 5,633 4,110 interest arrears on long-term 28 2 0 0 0 0 0 0 Memorandum items 409 177 8 0 0 0 0 0 14,630 13,945 20,805 22,554 24,719 27,401 28,483 34,837 1,154 5,555 10,261 8,990 8,542 11,113 12,435 13,276 1,269 1,792 3,782 4,879 4,916 4,647 5,106 7,971 External debt flows Disbursements 1,994 4,179 3,803 6,496 8,943 8,860 7,219 13,183 Long-term external debt 1,994 4,179 3,803 6,496 8,943 8,860 7,219 13,183 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 2,189 2,347 2,900 7,403 7,769 5,641 4,878 5,923 Long-term external debt 2,189 2,347 2,900 7,403 7,769 5,641 4,878 5,923 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -399 2,894 -191 149 -240 3,618 2,814 5,737 Long-term external debt -195 1,832 903 -907 1,174 3,220 2,342 7,260 Short-term external debt -204 1,062 -1,094 1,056 -1,413 398 472 -1,523 Interest payments 1,701 1,998 2,204 2,838 2,577 2,992 3,034 2,917 Long-term external debt 1,558 1,687 2,032 2,584 2,357 2,748 2,769 2,724 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 143 311 172 254 220 244 265 193 2. Other non-debt resource inflows Foreign direct investment 500 968 2,436 10,252 6,656 9,049 10,596 7,260 Portfolio equity 0 165 17 86 -30 790 -86 67 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.2 3.5 3.5 1.4 1.1 Japanese yen 4.9 5.6 3.6 1.6 1.3 1.1 1.1 2.2 Pound sterling 0.3 0.1 0.8 0.8 0.8 0.8 0.0 0.0 Swiss franc 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 44.0 49.9 74.4 85.2 88.0 89.8 93.7 94.3 4. Average terms of new commitments Official creditors Interest (%) 7.5 6.4 8.8 5.1 5.5 5.7 3.7 1.3 Maturity (years) 18.7 20.4 12.1 15.9 17.7 12.3 23.1 23.9 Grace period (years) 5.4 4.8 3.1 6.0 5.3 4.8 7.1 7.0 Private creditors Interest (%) 9.3 3.8 7.6 8.0 7.5 9.2 6.8 6.6 Maturity (years) 10.2 6.1 10.2 11.4 18.3 13.4 14.5 14.0 Grace period (years) 2.2 4.0 7.5 10.2 17.9 13.2 13.7 13.6 5. Major economic aggregates Gross national income (GNI) 38,193 90,924 91,738 139,124 156,417 199,900 232,964 221,200 Exports of goods, services & income 9,026 12,971 16,850 25,467 30,077 36,067 44,414 39,421 Worker remit. & comp. of employees 495 815 1,610 3,346 3,928 4,523 4,884 4,180 Imports of goods, services & income 9,510 18,286 17,728 31,435 37,808 47,273 56,809 49,186 Profit remittances on FDI 964 359 655 3,565 4,591 6,598 8,706 7,555 Current account balance 542 -4,516 795 -1,886 -2,989 -5,977 -6,883 -5,146 International reserves 4,869 8,452 9,006 14,955 15,437 20,951 23,671 24,987 6. Ratios External debt stocks to exports (%) 190.8 193.1 201.4 148.1 126.4 121.1 104.8 132.5 External debt stocks to GNI (%) 45.1 27.5 37.0 27.1 24.3 21.8 20.0 23.6 Debt service to exports (%) 43.1 33.5 30.3 40.2 34.4 23.9 17.8 22.4 Short-term to external debt stocks (%) 8.4 22.1 8.5 16.4 12.5 11.8 12.1 7.9 Multilateral to external debt stocks (%) 35.4 21.2 18.5 25.5 28.5 25.8 28.2 28.2 Reserves to external debt stocks (%) 28.3 33.7 26.5 39.6 40.6 48.0 50.8 47.8 Reserves to imports (months) 6.1 5.5 6.1 5.7 4.9 5.3 5.0 6.1 108 COLOMBIA 7. Long-term external debt Debt outstanding and disbursed 15,784 19,499 31,066 31,544 33,261 38,514 40,918 48,113 Public and publicly guaranteed 14,671 13,946 20,806 22,555 24,720 27,402 28,960 35,364 Official creditors 8,540 7,063 7,722 10,568 11,657 11,993 13,739 15,246 Multilateral 6,103 5,316 6,274 9,615 10,841 11,277 13,114 14,732 of which: IBRD 3,859 2,548 1,920 3,896 4,563 4,756 5,438 6,570 IDA 14 11 7 4 3 2 2 1 Bilateral 2,437 1,747 1,448 954 816 717 626 514 Private creditors 6,131 6,883 13,084 11,987 13,063 15,409 15,221 20,118 of which: Bonds 275 1,733 8,201 10,927 12,162 12,354 12,280 17,159 Commercial banks 4,208 4,163 4,252 800 754 2,224 2,202 2,184 Private nonguaranteed 1,113 5,553 10,259 8,989 8,541 11,112 11,958 12,749 of which: Bonds 0 717 762 370 540 809 809 2,709 Disbursements 1,994 4,179 3,803 6,496 8,943 8,860 7,219 13,183 Public and publicly guaranteed 1,847 1,569 2,939 4,376 5,578 4,494 3,862 8,141 Official creditors 697 685 660 1,467 2,237 1,585 2,567 2,450 Multilateral 559 394 508 1,467 2,219 1,581 2,546 2,435 of which: IBRD 213 238 266 705 942 564 847 1,331 IDA 0 0 0 0 0 0 0 0 Bilateral 139 290 152 0 18 4 21 15 Private creditors 1,150 885 2,279 2,908 3,341 2,909 1,296 5,691 of which: Bonds 0 535 1,804 2,304 2,696 1,293 1,000 5,491 Commercial banks 874 257 469 591 645 1,615 296 200 Private nonguaranteed 147 2,610 865 2,121 3,364 4,366 3,357 5,041 of which: Bonds 0 592 0 0 170 469 0 1,900 Principal repayments 2,189 2,347 2,900 7,403 7,769 5,641 4,878 5,923 Public and publicly guaranteed 1,875 2,200 2,068 4,712 3,863 2,914 2,173 1,797 Official creditors 737 1,110 557 2,223 1,177 1,364 883 940 Multilateral 527 647 440 2,072 1,005 1,248 755 811 of which: IBRD 434 414 242 218 259 432 158 216 IDA 1 1 1 1 1 1 1 1 Bilateral 210 463 116 151 171 117 128 129 Private creditors 1,138 1,090 1,511 2,488 2,686 1,549 1,290 857 of which: Bonds 4 119 469 1,723 1,879 1,353 953 623 Commercial banks 849 723 838 680 693 150 317 218 Private nonguaranteed 314 147 832 2,692 3,906 2,727 2,705 4,126 of which: Bonds 0 0 110 0 0 200 0 0 Interest payments 1,558 1,687 2,032 2,584 2,357 2,748 2,769 2,724 Public and publicly guaranteed 1,240 962 1,414 1,947 1,650 1,948 2,106 2,006 Official creditors 627 505 541 574 580 681 656 602 Multilateral 476 388 470 529 543 648 629 582 of which: IBRD 318 190 126 174 210 256 241 242 IDA 0 0 0 0 0 0 0 0 Bilateral 150 118 71 44 37 33 27 20 Private creditors 613 457 873 1,373 1,071 1,266 1,450 1,404 of which: Bonds 27 58 515 1,284 1,005 1,058 1,112 1,073 Commercial banks 461 310 298 69 52 48 183 171 Private nonguaranteed 318 725 618 637 707 800 663 718 of which: Bonds 0 15 84 36 43 75 68 129 8. Debt stock-flow reconciliation Total change in external debt stocks 336 3,106 -490 -191 304 5,651 2,876 5,672 Net flows on external debt -399 2,894 -191 149 -240 3,618 2,814 5,737 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 878 1,060 1,103 1,074 1,323 1,194 1,107 984 Interest 378 353 327 303 275 247 221 199 Private creditors Principal 4,381 2,253 3,701 1,443 2,601 1,469 623 2,900 Interest 1,962 1,717 1,598 1,341 1,277 1,093 981 950 Notes: Short-term debt is based on the Central Bank data. 109 COMOROS 1. Summary external debt data External debt stocks 187.8 214.5 236.6 291.8 296.7 291.8 282.0 279.3 Long-term external debt 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8 Public and publicly guaranteed 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 3.3 1.5 0.0 0.0 0.0 5.1 10.1 Short-term external debt 12.4 10.0 28.1 33.7 36.3 11.8 5.8 5.4 interest arrears on long-term 12.2 8.0 19.1 30.7 32.3 7.8 5.8 5.4 Memorandum items 25.5 26.7 60.2 74.1 78.6 38.5 27.4 24.8 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 4.7 0.0 0.6 0.0 0.0 0.0 0.0 External debt flows Disbursements 5.1 9.6 2.1 3.3 3.0 4.8 6.7 6.9 Long-term external debt 5.1 9.6 2.1 3.3 3.0 4.8 1.4 0.3 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 5.3 6.5 Principal repayments 0.2 0.4 1.8 2.6 2.4 12.8 8.1 8.9 Long-term external debt 0.2 0.4 1.2 2.6 2.4 12.8 8.1 7.2 IMF repurchases 0.0 0.0 0.6 0.0 0.0 0.0 0.0 1.7 Net flows 1.8 11.2 2.3 0.7 1.6 -8.0 -5.5 -2.1 Long-term external debt 4.8 9.2 0.9 0.7 0.6 -8.0 -6.7 -6.9 Short-term external debt -3.0 2.0 2.0 0.0 1.0 0.0 -4.0 0.0 Interest payments 0.9 0.6 1.4 1.4 1.4 13.3 4.2 2.9 Long-term external debt 0.7 0.5 0.8 1.3 1.2 13.1 4.2 2.9 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 0.1 0.6 0.2 0.2 0.2 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 0.4 0.9 0.1 0.6 0.6 7.5 7.5 9.1 Portfolio equity 0.0 0.0 .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.4 12.3 11.6 11.4 11.4 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 16.7 27.1 31.9 40.6 41.3 42.5 43.1 43.7 4. Average terms of new commitments Official creditors Interest (%) 2.0 0.9 0.0 1.0 0.0 0.0 0.0 0.0 Maturity (years) 29.8 37.7 0.0 39.7 0.0 0.0 0.0 0.0 Grace period (years) 10.3 10.4 0.0 10.2 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 249.3 232.9 202.2 384.6 403.6 466.9 531.2 547.9 Exports of goods, services & income 38.1 49.2 .. .. .. .. .. .. Worker remit. & comp. of employees 9.9 12.2 12.0 12.0 12.0 12.0 12.0 12.0 Imports of goods, services & income 93.4 105.7 .. .. .. 173.7 195.9 .. Profit remittances on FDI 0.6 0.2 .. .. .. .. .. .. Current account balance -10.5 -19.0 .. .. .. .. .. .. International reserves 29.9 44.9 43.4 86.1 93.9 117.6 112.7 .. 6. Ratios External debt stocks to exports (%) 492.2 435.8 .. .. .. .. .. .. External debt stocks to GNI (%) 75.3 92.1 117.0 75.9 73.5 62.5 53.1 51.0 Debt service to exports (%) 2.9 2.0 .. .. .. .. .. .. Short-term to external debt stocks (%) 6.6 4.7 11.9 11.6 12.2 4.1 2.1 1.9 Multilateral to external debt stocks (%) 61.0 72.9 70.1 71.1 73.1 78.2 77.8 76.8 Reserves to external debt stocks (%) 15.9 20.9 18.3 29.5 31.6 40.3 40.0 .. Reserves to imports (months) 3.8 5.1 .. .. .. 8.1 6.9 .. 110 COMOROS 7. Long-term external debt Debt outstanding and disbursed 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8 Public and publicly guaranteed 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8 Official creditors 175.4 201.2 206.9 258.0 260.3 279.9 271.0 263.8 Multilateral 114.6 156.5 165.9 207.3 216.9 228.1 219.4 214.6 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 37.5 64.1 70.8 111.1 117.1 124.4 122.3 120.4 Bilateral 60.8 44.7 41.1 50.7 43.5 51.8 51.6 49.2 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 Disbursements 5.1 9.6 2.1 3.3 3.0 4.8 1.4 0.3 Public and publicly guaranteed 5.1 9.6 2.1 3.3 3.0 4.8 1.4 0.3 Official creditors 5.1 9.6 2.1 3.3 3.0 4.8 1.4 0.3 Multilateral 0.9 9.6 2.1 3.3 3.0 4.8 1.4 0.3 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 2.7 3.0 4.8 1.4 0.3 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 2.6 2.4 12.8 8.1 7.2 Public and publicly guaranteed 0.2 0.4 1.2 2.6 2.4 12.8 8.1 7.2 Official creditors 0.2 0.4 1.2 2.6 2.4 12.8 8.1 7.2 Multilateral 0.2 0.4 1.2 2.6 2.4 12.8 8.1 7.2 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 2.0 2.0 2.3 2.6 3.1 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 1.3 1.2 13.1 4.2 2.9 Public and publicly guaranteed 0.7 0.5 0.8 1.3 1.2 13.1 4.2 2.9 Official creditors 0.7 0.5 0.8 1.3 1.2 13.1 4.2 2.9 Multilateral 0.4 0.5 0.8 1.3 1.2 12.9 3.9 2.6 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 0.8 1.1 Bilateral 0.3 0.0 0.0 0.0 0.0 0.2 0.3 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 -15.7 4.9 -4.9 -9.8 -2.7 Net flows on external debt 1.8 11.2 2.3 0.7 1.6 -8.0 -5.5 -2.1 9. Debt restructurings Total amount rescheduled 0.0 2.0 0.0 0.0 0.0 68.6 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 7.6 7.8 8.1 7.2 7.5 7.9 7.9 7.9 Interest 1.7 1.7 1.7 1.6 1.6 1.5 1.5 1.4 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111 CONGO, DEMOCRATIC REPUBLIC OF 1. Summary external debt data External debt stocks 10,259 13,239 11,692 10,600 11,244 12,359 12,196 12,183 Long-term external debt 8,994 9,636 7,880 9,412 9,891 10,928 10,872 10,788 Public and publicly guaranteed 8,994 9,636 7,880 9,412 9,891 10,928 10,872 10,788 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 521 485 391 791 833 808 654 800 Short-term external debt 744 3,118 3,421 397 520 623 670 596 interest arrears on long-term 265 2,937 3,042 359 378 443 464 482 Memorandum items 1,050 4,569 4,949 1,186 1,279 1,530 1,676 2,168 8,994 9,621 7,867 9,412 9,891 10,928 10,872 10,788 0 15 13 0 0 0 0 0 109 14 0 45 45 0 0 0 External debt flows Disbursements 315 0 0 288 182 116 100 387 Long-term external debt 315 0 0 249 182 116 100 105 IMF purchases 0 0 0 39 0 0 0 282 Principal repayments 201 1 0 112 142 223 310 449 Long-term external debt 49 0 0 112 142 158 173 298 IMF repurchases 152 1 0 0 0 64 137 150 Net flows 88 61 20 95 144 -68 -185 -154 Long-term external debt 266 0 0 137 40 -42 -74 -193 Short-term external debt -27 63 20 -81 104 38 26 -92 Interest payments 147 24 25 102 143 280 288 251 Long-term external debt 88 0 0 97 134 269 278 245 IMF charges 38 16 0 2 4 4 4 4 Short-term external debt 21 8 25 3 5 6 6 2 2. Other non-debt resource inflows Foreign direct investment -14 -22 72 .. 256 1,808 1,727 951 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 30.1 31.3 31.0 28.9 29.2 Japanese yen 3.0 3.7 4.8 7.3 6.8 6.3 7.9 7.7 Pound sterling 1.2 0.9 1.1 1.2 1.3 1.2 0.9 1.0 Swiss franc 0.2 0.3 0.2 0.3 0.3 0.3 0.3 0.2 U.S.dollars 41.5 40.8 44.6 46.0 45.2 41.8 42.1 41.4 4. Average terms of new commitments Official creditors Interest (%) 5.9 2.5 0.0 1.5 2.2 0.0 0.0 0.0 Maturity (years) 23.8 19.9 0.0 30.3 27.8 0.0 0.0 0.0 Grace period (years) 6.4 4.4 0.0 6.7 1.7 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 1.3 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 8,579 4,878 3,918 6,760 8,143 9,621 10,396 10,034 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & income .. .. .. .. .. 98,053 106,338 80,328 Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves 261 157 83 131 155 181 78 .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 119.6 271.4 298.4 156.8 138.1 128.5 117.3 121.4 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 7.2 23.6 29.3 3.7 4.6 5.0 5.5 4.9 Multilateral to external debt stocks (%) 18.6 18.0 18.5 28.8 29.2 32.8 34.0 34.4 Reserves to external debt stocks (%) 2.5 1.2 0.7 1.2 1.4 1.5 0.6 .. Reserves to imports (months) .. .. .. .. .. 0.0 0.0 .. 112 CONGO, DEMOCRATIC REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 8,994 9,636 7,880 9,412 9,891 10,928 10,872 10,788 Public and publicly guaranteed 8,994 9,636 7,880 9,412 9,891 10,928 10,872 10,788 Official creditors 8,105 8,758 7,384 9,042 9,524 10,571 10,520 10,496 Multilateral 1,912 2,382 2,164 3,050 3,280 4,056 4,150 4,187 of which: IBRD 49 92 81 0 0 0 0 0 IDA 1,112 1,321 1,188 2,050 2,251 2,402 2,437 2,497 Bilateral 6,193 6,376 5,220 5,992 6,244 6,515 6,371 6,310 Private creditors 889 878 496 370 367 357 351 292 of which: Bonds 5 5 3 1 1 0 0 0 Commercial banks 118 117 81 1 1 1 0 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 0 249 182 116 100 105 Public and publicly guaranteed 315 0 0 249 182 116 100 105 Official creditors 312 0 0 249 182 116 100 105 Multilateral 222 0 0 249 143 105 100 105 of which: IBRD 21 0 0 0 0 0 0 0 IDA 89 0 0 226 138 99 92 85 Bilateral 90 0 0 0 39 10 0 0 Private creditors 3 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 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 0 112 142 158 173 298 Public and publicly guaranteed 49 0 0 112 142 158 173 298 Official creditors 34 0 0 110 136 154 167 238 Multilateral 28 0 0 11 19 40 58 69 of which: IBRD 5 0 0 0 0 0 0 0 IDA 2 0 0 0 1 1 3 7 Bilateral 6 0 0 98 116 114 109 169 Private creditors 15 0 0 2 6 5 7 61 of which: Bonds 0 0 0 1 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 88 0 0 97 134 269 278 245 Public and publicly guaranteed 88 0 0 97 134 269 278 245 Official creditors 76 0 0 95 132 267 275 243 Multilateral 40 0 0 52 62 113 126 125 of which: IBRD 1 0 0 0 0 0 0 0 IDA 7 0 0 12 12 14 15 16 Bilateral 36 0 0 43 70 153 149 119 Private creditors 12 0 0 1 2 2 3 2 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 -834 643 1,116 -164 -13 Net flows on external debt 88 61 20 95 144 -68 -185 -154 9. Debt restructurings Total amount rescheduled 446 0 0 34 0 0 0 0 Total amount forgiven 24 0 0 95 37 40 161 37 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 302 314 324 341 299 256 266 324 Interest 135 129 123 117 110 106 103 99 Private creditors Principal 4 4 4 4 4 1 1 1 Interest 1 1 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Data for 2007, 2008, and 2009 include the effects of Enhanced HIPC Initiative, in the amount of $40,433 in thousands, $42,477 in thousands, and $37,364 in thousands respectively. 113 CONGO, REPUBLIC OF 1. Summary external debt data External debt stocks 4,903 5,887 4,782 6,154 6,561 5,648 5,931 5,041 Long-term external debt 4,160 4,867 3,682 5,413 5,749 5,247 5,504 4,785 Public and publicly guaranteed 4,160 4,867 3,682 5,413 5,749 5,247 5,504 4,785 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 11 19 41 26 35 37 38 43 Short-term external debt 732 1,002 1,059 714 776 364 389 213 interest arrears on long-term 177 412 638 703 713 259 252 144 Memorandum items 569 950 1,727 2,511 2,564 1,008 978 512 4,160 4,867 3,682 5,413 5,749 5,247 5,504 4,785 0 0 0 0 0 0 0 0 192 31 24 630 17 10 13 394 External debt flows Disbursements 325 15 15 242 153 28 21 10 Long-term external debt 320 15 1 231 142 28 19 7 IMF purchases 5 0 14 12 12 0 2 4 Principal repayments 357 88 6 77 54 74 112 86 Long-term external debt 350 85 6 65 50 74 112 86 IMF repurchases 7 2 0 12 4 0 0 0 Net flows 106 163 -52 176 151 -4 -60 -144 Long-term external debt -30 -70 -5 165 92 -46 -94 -80 Short-term external debt 138 236 -61 11 52 42 32 -68 Interest payments 163 99 38 35 33 34 70 77 Long-term external debt 114 62 7 34 31 29 64 75 IMF charges 1 1 1 0 0 0 0 0 Short-term external debt 48 35 30 0 2 4 5 2 2. Other non-debt resource inflows Foreign direct investment 23 125 166 514 1,488 2,638 2,483 2,083 Portfolio equity 0 0 0 .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 35.9 36.0 41.9 40.3 42.6 Japanese yen 0.2 0.2 0.2 0.1 0.1 0.2 0.2 0.0 Pound sterling 5.4 3.5 4.9 5.3 6.4 6.3 4.4 5.4 Swiss franc 0.4 0.5 0.3 0.2 0.2 0.3 0.3 0.3 U.S.dollars 16.6 24.1 29.9 52.5 51.4 43.9 47.9 42.7 4. Average terms of new commitments Official creditors Interest (%) 4.3 2.2 2.0 0.6 2.4 1.0 2.8 0.9 Maturity (years) 17.2 31.8 15.0 16.1 39.5 19.7 19.5 19.5 Grace period (years) 7.2 9.0 7.0 4.7 10.4 5.2 4.8 5.2 Private creditors Interest (%) 9.9 0.0 0.0 0.0 0.0 0.0 4.0 0.0 Maturity (years) 8.3 0.0 0.0 0.0 0.0 0.0 9.8 0.0 Grace period (years) 4.1 0.0 0.0 0.0 0.0 0.0 0.2 0.0 5. Major economic aggregates Gross national income (GNI) 2,324 1,228 2,275 4,039 5,104 5,042 7,675 6,018 Exports of goods, services & income 1,503 1,383 2,642 4,983 6,352 6,151 .. .. Worker remit. & comp. of employees .. 4 10 11 13 15 15 15 Imports of goods, services & income 1,757 2,050 2,013 4,318 6,202 8,294 .. .. Profit remittances on FDI 0 326 466 1,296 1,403 1,651 .. .. Current account balance -251 -625 648 696 124 -2,181 .. .. International reserves 10 64 225 738 1,848 2,184 3,881 3,818 6. Ratios External debt stocks to exports (%) 326.3 425.8 181.0 123.5 103.3 91.8 .. .. External debt stocks to GNI (%) 211.0 479.3 210.2 152.4 128.6 112.0 77.3 83.8 Debt service to exports (%) 34.6 13.5 1.7 2.2 1.4 1.7 .. .. Short-term to external debt stocks (%) 14.9 17.0 22.1 11.6 11.8 6.4 6.6 4.2 Multilateral to external debt stocks (%) 11.3 10.7 10.4 8.5 7.9 8.9 8.0 9.2 Reserves to external debt stocks (%) 0.2 1.1 4.7 12.0 28.2 38.7 65.4 75.7 Reserves to imports (months) 0.1 0.4 1.3 2.0 3.6 3.2 .. .. 114 CONGO, REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 4,160 4,867 3,682 5,413 5,749 5,247 5,504 4,785 Public and publicly guaranteed 4,160 4,867 3,682 5,413 5,749 5,247 5,504 4,785 Official creditors 3,013 3,947 2,920 3,303 3,609 3,864 4,150 3,861 Multilateral 555 631 499 522 518 501 476 463 of which: IBRD 164 105 65 0 0 0 0 0 IDA 75 174 159 280 295 303 299 298 Bilateral 2,458 3,316 2,421 2,780 3,091 3,363 3,674 3,398 Private creditors 1,147 920 762 2,111 2,140 1,383 1,354 924 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 719 778 686 2,017 2,037 1,281 1,261 779 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 320 15 1 231 142 28 19 7 Public and publicly guaranteed 320 15 1 231 142 28 19 7 Official creditors 127 15 1 231 142 28 14 7 Multilateral 11 1 0 95 8 14 9 5 of which: IBRD 2 1 0 0 0 0 0 0 IDA 0 0 0 35 8 2 3 3 Bilateral 116 15 1 135 134 14 4 1 Private creditors 193 0 0 0 0 0 5 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 85 6 65 50 74 112 86 Public and publicly guaranteed 350 85 6 65 50 74 112 86 Official creditors 66 33 6 65 50 72 84 86 Multilateral 26 20 6 47 31 23 21 22 of which: IBRD 6 18 2 0 0 0 0 0 IDA 0 1 1 5 3 2 2 2 Bilateral 40 12 0 19 19 49 64 64 Private creditors 283 53 0 0 0 1 28 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 255 46 0 0 0 0 24 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 62 7 34 31 29 64 75 Public and publicly guaranteed 114 62 7 34 31 29 64 75 Official creditors 62 20 7 34 31 29 59 57 Multilateral 25 11 7 26 14 11 9 8 of which: IBRD 12 10 1 0 0 0 0 0 IDA 1 1 1 2 2 2 2 2 Bilateral 38 9 0 8 17 19 50 49 Private creditors 51 42 0 0 0 0 5 18 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 44 39 0 0 0 0 5 18 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 691 586 -138 -410 406 -912 283 -890 Net flows on external debt 106 163 -52 176 151 -4 -60 -144 9. Debt restructurings Total amount rescheduled 780 108 0 86 124 616 312 53 Total amount forgiven 0 24 0 141 152 1,282 114 765 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 316 272 278 206 231 217 211 210 Interest 62 64 69 64 62 59 55 51 Private creditors Principal 24 24 28 32 32 32 32 32 Interest 12 11 11 10 10 9 8 11 Notes: Data include the effects of London Club debt restructuring agreement signed in 2007 and Paris Club debt restructuring agreement signed in 2008. Data for 2007, 2008, and 2009 include the effects of Enhanced HIPC Initiative, in the amount of $3,616 in thousands and $3,596 in thousands, and $3,576 in thousands respectively. 115 COSTA RICA 1. Summary external debt data External debt stocks 3,738 3,766 4,636 6,480 6,987 8,398 9,189 8,070 Long-term external debt 3,350 3,312 3,688 4,383 4,632 5,164 5,201 5,728 Public and publicly guaranteed 3,046 3,097 3,452 3,152 3,307 3,643 3,168 3,190 Private nonguaranteed 304 214 236 1,231 1,325 1,521 2,033 2,538 Use of IMF credit 11 24 0 0 0 0 0 0 Short-term external debt 377 430 948 2,097 2,355 3,234 3,989 2,341 interest arrears on long-term 77 32 12 2 2 0 0 0 Memorandum items 171 98 29 0 0 0 0 0 3,043 3,095 3,451 3,152 3,307 3,643 3,168 3,190 308 216 237 1,231 1,325 1,521 2,033 2,538 230 25 824 358 416 149 446 1,798 External debt flows Disbursements 206 211 758 985 458 610 1,115 1,320 Long-term external debt 206 211 758 985 458 610 1,115 1,320 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 297 401 388 568 497 558 1,111 793 Long-term external debt 272 357 388 568 497 558 1,111 793 IMF repurchases 26 44 0 0 0 0 0 0 Net flows -111 -148 549 842 220 932 758 -1,120 Long-term external debt -65 -146 370 417 -39 52 3 527 Short-term external debt -20 42 179 425 258 880 755 -1,647 Interest payments 207 251 262 274 293 347 462 437 Long-term external debt 172 225 206 179 176 207 352 366 IMF charges 3 3 0 0 0 0 0 0 Short-term external debt 32 23 56 94 118 140 110 70 2. Other non-debt resource inflows Foreign direct investment 163 337 409 861 1,469 1,896 2,078 1,347 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.5 1.4 1.6 1.6 1.5 Japanese yen 3.0 8.2 4.0 2.8 2.1 2.3 3.8 5.1 Pound sterling 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 58.4 49.1 69.9 77.4 80.4 83.1 88.1 88.1 4. Average terms of new commitments Official creditors Interest (%) 6.4 2.2 6.3 5.7 4.8 6.2 4.6 2.6 Maturity (years) 17.6 7.3 4.3 17.5 15.1 14.8 17.3 19.6 Grace period (years) 5.0 1.2 1.8 4.0 3.9 3.8 4.0 4.1 Private creditors Interest (%) 9.5 6.9 8.3 8.2 6.9 6.0 0.0 5.1 Maturity (years) 3.2 6.0 17.3 12.1 10.3 1.4 0.0 7.2 Grace period (years) 1.1 1.5 17.3 0.5 10.3 0.3 0.0 5.6 5. Major economic aggregates Gross national income (GNI) 7,151 11,497 14,697 19,174 21,788 25,468 28,941 28,752 Exports of goods, services & income 2,094 4,597 7,992 10,528 12,208 13,559 14,340 12,786 Worker remit. & comp. of employees 12 123 136 420 513 618 605 574 Imports of goods, services & income 2,709 5,089 8,793 11,779 13,580 15,675 17,511 13,681 Profit remittances on FDI 60 109 1,141 743 853 1,131 688 1,056 Current account balance -424 -358 -707 -981 -1,023 -1,646 -2,729 .. International reserves 525 1,060 1,318 2,314 3,117 4,115 3,801 4,068 6. Ratios External debt stocks to exports (%) 178.6 81.9 58.0 61.5 57.2 61.9 64.1 63.1 External debt stocks to GNI (%) 52.3 32.8 31.5 33.8 32.1 33.0 31.8 28.1 Debt service to exports (%) 24.1 14.2 8.1 8.0 6.5 6.7 11.0 9.6 Short-term to external debt stocks (%) 10.1 11.4 20.4 32.4 33.7 38.5 43.4 29.0 Multilateral to external debt stocks (%) 30.5 36.6 28.1 18.1 18.0 14.2 11.3 14.6 Reserves to external debt stocks (%) 14.0 28.1 28.4 35.7 44.6 49.0 41.4 50.4 Reserves to imports (months) 2.3 2.5 1.8 2.4 2.8 3.2 2.6 3.6 116 COSTA RICA 7. Long-term external debt Debt outstanding and disbursed 3,350 3,312 3,688 4,383 4,632 5,164 5,201 5,728 Public and publicly guaranteed 3,046 3,097 3,452 3,152 3,307 3,643 3,168 3,190 Official creditors 2,342 2,486 1,861 1,361 1,443 1,469 1,355 1,570 Multilateral 1,140 1,380 1,305 1,174 1,258 1,192 1,038 1,178 of which: IBRD 409 300 121 59 53 45 41 57 IDA 3 3 2 1 1 1 0 0 Bilateral 1,202 1,106 556 187 185 277 318 392 Private creditors 704 611 1,591 1,791 1,864 2,174 1,812 1,620 of which: Bonds 609 572 1,542 1,669 1,685 1,900 1,660 1,435 Commercial banks 41 3 23 102 161 257 137 172 Private nonguaranteed 304 214 236 1,231 1,325 1,521 2,033 2,538 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 206 211 758 985 458 610 1,115 1,320 Public and publicly guaranteed 201 201 749 75 142 118 320 521 Official creditors 170 200 249 75 92 118 309 378 Multilateral 89 183 130 69 77 102 245 258 of which: IBRD 5 16 6 5 5 1 4 24 IDA 0 0 0 0 0 0 0 0 Bilateral 81 18 118 6 15 16 63 120 Private creditors 31 0 500 0 50 0 11 143 of which: Bonds 0 0 500 0 50 0 0 75 Commercial banks 30 0 0 0 0 0 11 68 Private nonguaranteed 5 10 9 910 316 492 795 799 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 272 357 388 568 497 558 1,111 793 Public and publicly guaranteed 266 333 371 364 275 262 828 498 Official creditors 95 323 334 305 229 220 455 163 Multilateral 79 176 154 275 212 190 412 118 of which: IBRD 45 55 33 17 11 9 8 7 IDA 0 0 0 0 0 0 0 0 Bilateral 16 146 180 30 17 30 43 45 Private creditors 171 10 37 59 45 42 373 335 of which: Bonds 42 4 30 41 34 35 240 300 Commercial banks 124 2 4 17 11 7 130 33 Private nonguaranteed 6 24 17 204 222 296 283 294 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 172 225 206 179 176 207 352 366 Public and publicly guaranteed 170 204 190 105 95 115 246 214 Official creditors 105 163 104 63 53 42 78 73 Multilateral 77 95 84 57 50 39 68 63 of which: IBRD 33 27 12 3 3 3 3 2 IDA 0 0 0 0 0 0 0 0 Bilateral 28 67 20 5 3 3 10 9 Private creditors 65 42 86 43 42 73 168 142 of which: Bonds 24 37 80 39 37 68 152 131 Commercial banks 36 0 2 3 5 4 14 10 Private nonguaranteed 2 21 16 74 80 92 106 152 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -837 -110 490 774 507 1,411 791 -1,120 Net flows on external debt -111 -148 549 842 220 932 758 -1,120 9. Debt restructurings Total amount rescheduled 641 0 0 0 0 0 0 0 Total amount forgiven 855 3 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 258 243 229 250 228 208 184 174 Interest 68 61 53 44 36 30 26 22 Private creditors Principal 638 727 703 550 545 183 278 130 Interest 235 197 161 114 88 59 46 35 Notes: Data on long-term private nonguaranteed debt are World Bank staff estimates. Short-term debt is based on reports provided by the country. 117 COTE D'IVOIRE 1. Summary external debt data External debt stocks 17,251 18,899 12,138 11,912 12,764 13,865 12,568 11,701 Long-term external debt 13,223 14,562 10,546 10,866 11,605 12,237 11,036 11,250 Public and publicly guaranteed 10,665 11,902 9,063 9,965 10,823 11,646 10,622 10,979 Private nonguaranteed 2,558 2,660 1,482 900 782 591 414 271 Use of IMF credit 431 427 549 198 150 173 188 352 Short-term external debt 3,597 3,910 1,043 848 1,010 1,455 1,344 99 interest arrears on long-term 819 1,020 79 848 1,010 1,455 1,344 99 Memorandum items 1,727 2,686 169 1,499 2,033 2,497 2,218 183 10,663 11,901 9,063 9,965 10,823 11,646 10,622 10,979 2,560 2,661 1,482 900 782 591 414 271 764 716 72 40 58 162 73 148 External debt flows Disbursements 1,172 924 148 55 116 140 118 359 Long-term external debt 1,019 743 148 55 116 77 54 58 IMF purchases 153 181 0 0 0 62 64 301 Principal repayments 621 625 481 255 217 345 829 841 Long-term external debt 498 539 442 164 160 298 784 697 IMF repurchases 123 86 39 91 57 47 44 143 Net flows 1,189 935 -617 -308 -101 -206 -711 -481 Long-term external debt 521 204 -294 -109 -44 -221 -731 -639 Short-term external debt 639 636 -283 -108 0 0 0 0 Interest payments 641 421 539 50 50 84 221 266 Long-term external debt 443 390 462 46 49 82 216 264 IMF charges 31 8 3 1 1 1 5 2 Short-term external debt 167 23 74 3 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 48 211 235 312 319 427 446 381 Portfolio equity 0 1 1 14 2 2 2 -9 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 51.9 53.4 55.6 56.2 58.6 Japanese yen 0.9 1.4 1.4 1.3 1.2 1.1 1.6 2.0 Pound sterling 1.3 0.9 0.6 0.4 0.4 0.4 0.3 0.4 Swiss franc 2.3 0.5 0.2 0.2 0.2 0.2 0.2 0.0 U.S.dollars 15.5 22.0 53.7 37.7 35.9 34.1 33.0 34.0 4. Average terms of new commitments Official creditors Interest (%) 5.9 1.9 0.8 1.7 0.2 4.8 1.7 3.7 Maturity (years) 20.0 29.8 46.2 20.0 7.8 14.9 20.5 21.3 Grace period (years) 6.3 8.5 9.6 5.7 1.7 4.4 5.7 6.6 Private creditors Interest (%) 0.0 14.5 0.0 0.0 0.0 0.5 0.0 1.1 Maturity (years) 0.0 19.6 0.0 0.0 0.0 11.7 0.0 20.3 Grace period (years) 0.0 0.1 0.0 0.0 0.0 3.7 0.0 2.3 5. Major economic aggregates Gross national income (GNI) 9,209 10,013 9,715 15,643 16,589 18,913 22,442 22,078 Exports of goods, services & income 3,561 4,526 4,512 8,724 9,518 9,820 11,651 11,702 Worker remit. & comp. of employees 44 151 119 163 167 185 199 185 Imports of goods, services & income 4,594 4,782 4,423 8,222 8,508 9,616 10,867 9,917 Profit remittances on FDI 75 204 284 370 478 531 581 0 Current account balance -1,214 -492 -241 40 479 -139 452 1,670 International reserves 21 529 668 1,322 1,798 2,519 2,253 3,267 6. Ratios External debt stocks to exports (%) 484.5 417.5 269.0 136.5 134.1 141.2 107.9 100.0 External debt stocks to GNI (%) 187.3 188.7 124.9 76.2 76.9 73.3 56.0 53.0 Debt service to exports (%) 35.4 23.1 22.6 3.5 2.8 4.4 9.0 9.5 Short-term to external debt stocks (%) 20.8 20.7 8.6 7.1 7.9 10.5 10.7 0.8 Multilateral to external debt stocks (%) 20.8 20.6 24.4 25.9 26.1 25.0 23.0 20.3 Reserves to external debt stocks (%) 0.1 2.8 5.5 11.1 14.1 18.2 17.9 27.9 Reserves to imports (months) 0.1 1.3 1.8 1.9 2.5 3.1 2.5 4.0 118 COTE D'IVOIRE 7. Long-term external debt Debt outstanding and disbursed 13,223 14,562 10,546 10,866 11,605 12,237 11,036 11,250 Public and publicly guaranteed 10,665 11,902 9,063 9,965 10,823 11,646 10,622 10,979 Official creditors 7,686 9,217 6,669 7,673 8,384 9,062 8,123 8,914 Multilateral 3,585 3,900 2,958 3,087 3,330 3,471 2,892 2,374 of which: IBRD 1,913 1,573 599 423 456 479 117 42 IDA 7 813 1,366 1,763 1,847 1,909 1,797 1,781 Bilateral 4,101 5,317 3,711 4,586 5,054 5,591 5,232 6,540 Private creditors 2,980 2,685 2,394 2,292 2,439 2,584 2,499 2,065 of which: Bonds 0 0 2,343 2,159 2,293 2,425 2,346 1,931 Commercial banks 2,640 2,630 14 133 146 160 152 134 Private nonguaranteed 2,558 2,660 1,482 900 782 591 414 271 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,019 743 148 55 116 77 54 58 Public and publicly guaranteed 769 670 148 21 88 57 35 36 Official creditors 758 669 148 21 88 57 35 36 Multilateral 460 340 148 11 71 35 24 23 of which: IBRD 261 19 0 0 0 0 0 0 IDA 0 226 76 0 0 0 13 13 Bilateral 298 329 0 10 17 22 10 13 Private creditors 11 1 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 1 0 0 0 0 0 0 Private nonguaranteed 250 73 0 34 28 20 19 22 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 498 539 442 164 160 298 784 697 Public and publicly guaranteed 319 514 329 21 14 112 588 532 Official creditors 247 479 283 21 13 112 588 532 Multilateral 230 286 143 20 12 106 587 504 of which: IBRD 125 199 57 0 0 30 377 73 IDA 0 0 0 0 0 16 117 41 Bilateral 16 193 140 0 1 6 1 28 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 25 113 143 146 187 196 165 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 443 390 462 46 49 82 216 264 Public and publicly guaranteed 205 257 342 3 2 41 183 241 Official creditors 187 252 189 3 2 41 183 241 Multilateral 176 172 78 3 2 41 183 238 of which: IBRD 141 135 32 0 0 10 83 6 IDA 0 5 8 0 0 8 61 14 Bilateral 12 81 111 0 0 1 1 3 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 43 47 41 33 23 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 -1,287 852 1,101 -1,297 -867 Net flows on external debt 1,189 935 -617 -308 -101 -206 -711 -481 9. Debt restructurings Total amount rescheduled 930 381 72 0 0 0 0 3,079 Total amount forgiven 50 322 29 0 0 0 0 1,103 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,050 1,041 684 532 534 535 538 525 Interest 251 249 246 241 226 208 190 172 Private creditors Principal 300 287 278 260 253 248 245 242 Interest 31 26 21 17 14 11 8 6 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreements signed in 2009. 119 DJIBOUTI 1. Summary external debt data External debt stocks 155.3 272.4 258.2 406.8 451.8 656.9 684.7 752.4 Long-term external debt 155.2 268.9 238.3 378.9 423.6 634.9 666.5 731.9 Public and publicly guaranteed 155.2 268.9 238.3 378.9 423.6 634.9 666.5 731.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 13.4 18.7 18.0 16.1 17.4 15.8 Short-term external debt 0.1 3.5 6.5 9.2 10.2 5.9 0.7 4.7 interest arrears on long-term 0.1 3.5 6.5 9.2 10.2 5.9 0.7 4.7 Memorandum items 1.2 13.1 22.7 22.2 26.8 40.4 2.2 7.7 155.2 268.9 238.3 378.9 423.6 634.9 666.5 731.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.2 0.0 48.6 68.6 41.1 22.7 38.4 24.3 External debt flows Disbursements 27.0 18.4 11.3 26.5 44.5 39.0 52.0 73.3 Long-term external debt 27.0 18.4 7.7 26.5 44.5 39.0 45.9 71.0 IMF purchases 0.0 0.0 3.6 0.0 0.0 0.0 6.1 2.3 Principal repayments 8.9 9.2 10.7 11.9 16.1 16.0 17.9 21.6 Long-term external debt 8.9 9.2 8.4 11.0 14.5 13.2 13.6 17.4 IMF repurchases 0.0 0.0 2.3 0.8 1.6 2.8 4.3 4.2 Net flows 18.0 9.2 0.7 14.7 28.4 23.0 34.1 51.6 Long-term external debt 18.0 9.2 -0.7 15.5 30.0 25.8 32.3 53.6 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.1 2.0 2.6 3.8 5.0 6.6 7.3 7.7 Long-term external debt 2.1 2.0 2.2 3.7 4.9 6.5 7.2 7.6 IMF charges 0.0 0.0 0.4 0.1 0.1 0.1 0.1 0.1 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment .. 3.2 3.3 22.2 108.3 195.4 253.0 100.0 Portfolio equity .. 0.0 0.0 0.0 0.0 0.0 0.0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.1 13.4 31.9 30.2 29.5 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 13.9 12.4 16.2 34.2 34.0 26.6 26.1 24.9 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 2.3 1.3 1.8 3.9 2.9 2.5 Maturity (years) 39.7 0.0 29.9 38.0 10.9 24.8 20.8 26.3 Grace period (years) 10.2 0.0 6.9 9.0 6.5 5.8 5.0 7.3 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 515.0 567.0 775.8 853.9 935.9 1072.5 1120.1 Exports of goods, services & income .. 220.7 218.4 319.8 341.5 341.7 409.6 .. Worker remit. & comp. of employees .. 11.9 12.3 25.8 28.5 28.6 30.3 30.3 Imports of goods, services & income .. 263.5 287.1 372.3 436.8 592.3 714.8 .. Profit remittances on FDI .. 4.6 4.2 5.9 5.9 4.2 5.0 .. Current account balance .. 17.5 -19.0 20.1 -16.6 -171.4 -225.4 .. International reserves 93.6 72.2 67.8 89.3 120.3 132.1 175.5 241.8 6. Ratios External debt stocks to exports (%) .. 123.4 118.2 127.2 132.3 192.2 167.2 .. External debt stocks to GNI (%) .. 52.9 45.5 52.4 52.9 70.2 63.8 67.2 Debt service to exports (%) .. 5.0 6.1 4.9 6.2 6.6 6.2 .. Short-term to external debt stocks (%) 0.0 1.3 2.5 2.3 2.3 0.9 0.1 0.6 Multilateral to external debt stocks (%) 55.4 50.1 53.6 66.0 67.7 52.8 53.0 53.6 Reserves to external debt stocks (%) 60.3 26.5 26.3 21.9 26.6 20.1 25.6 32.1 Reserves to imports (months) .. 3.3 2.8 2.9 3.3 2.7 2.9 .. 120 DJIBOUTI 7. Long-term external debt Debt outstanding and disbursed 155.2 268.9 238.3 378.9 423.6 634.9 666.5 731.9 Public and publicly guaranteed 155.2 268.9 238.3 378.9 423.6 634.9 666.5 731.9 Official creditors 155.2 268.9 238.3 373.3 418.0 622.6 653.0 716.7 Multilateral 86.1 136.4 138.3 268.7 305.7 347.0 362.8 403.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 31.1 46.2 49.9 120.3 133.3 147.2 151.6 158.4 Bilateral 69.2 132.5 100.0 104.6 112.3 275.6 290.2 313.6 Private creditors 0.0 0.0 0.0 5.6 5.6 12.3 13.5 15.2 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 12.3 13.5 15.2 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 Disbursements 27.0 18.4 7.7 26.5 44.5 39.0 45.9 71.0 Public and publicly guaranteed 27.0 18.4 7.7 26.5 44.5 39.0 45.9 71.0 Official creditors 27.0 18.4 7.7 26.5 44.5 39.0 45.9 71.0 Multilateral 8.9 10.0 7.7 16.2 34.2 29.6 24.0 48.4 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 4.7 8.2 9.7 7.2 7.4 Bilateral 18.0 8.4 0.0 10.3 10.4 9.4 21.9 22.6 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 8.9 9.2 8.4 11.0 14.5 13.2 13.6 17.4 Public and publicly guaranteed 8.9 9.2 8.4 11.0 14.5 13.2 13.6 17.4 Official creditors 8.3 9.2 8.4 11.0 14.5 13.2 13.6 17.4 Multilateral 3.5 4.4 4.0 5.1 8.2 7.9 8.7 9.7 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 1.4 1.2 1.8 1.6 1.8 Bilateral 4.8 4.8 4.4 6.0 6.3 5.3 5.0 7.7 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 3.7 4.9 6.5 7.2 7.6 Public and publicly guaranteed 2.1 2.0 2.2 3.7 4.9 6.5 7.2 7.6 Official creditors 2.1 2.0 2.2 3.7 4.9 6.5 7.2 7.6 Multilateral 1.3 0.9 1.4 2.7 3.9 4.6 5.2 5.0 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 1.0 0.8 1.1 1.3 1.1 Bilateral 0.8 1.1 0.8 1.0 1.1 1.9 2.0 2.6 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 8. Debt stock-flow reconciliation Total change in external debt stocks 24.0 14.8 -9.6 -13.0 45.0 205.1 27.8 67.7 Net flows on external debt 18.0 9.2 0.7 14.7 28.4 23.0 34.1 51.6 9. Debt restructurings Total amount rescheduled 0.0 0.0 2.1 0.0 0.0 0.0 58.2 8.7 Total amount forgiven 0.0 0.0 0.0 0.6 2.1 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 29.9 31.5 49.6 29.3 26.7 26.9 30.7 31.1 Interest 8.7 9.0 10.0 9.2 8.9 8.5 8.0 7.5 Private creditors Principal 2.9 2.9 2.8 0.1 0.1 0.1 0.1 0.1 Interest 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt include the effects of Paris Club debt restructuring agreement signed in 2008. 121 DOMINICA 1. Summary external debt data External debt stocks 88.0 103.3 164.8 273.7 253.5 289.6 297.2 251.6 Long-term external debt 80.2 94.9 145.8 221.6 217.5 214.4 199.2 192.5 Public and publicly guaranteed 80.2 94.9 145.8 221.6 217.5 214.4 199.2 192.5 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 5.7 1.7 0.0 11.6 14.0 12.1 15.0 19.6 Short-term external debt 2.0 6.7 19.0 40.6 22.0 63.0 83.1 39.5 interest arrears on long-term 0.0 0.2 0.0 8.6 11.0 14.0 17.1 19.5 Memorandum items 0.2 1.8 0.3 6.5 6.0 11.2 10.3 10.8 80.2 94.9 145.8 221.6 217.5 214.4 199.2 192.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.4 5.1 57.3 25.8 0.0 6.0 2.4 0.0 External debt flows Disbursements 11.5 9.5 56.2 8.0 6.5 4.9 6.8 11.5 Long-term external debt 11.5 9.5 56.2 4.5 3.1 4.9 3.5 6.5 IMF purchases 0.0 0.0 0.0 3.5 3.4 0.0 3.2 5.1 Principal repayments 3.8 4.4 6.7 10.0 11.0 12.7 11.1 13.1 Long-term external debt 2.5 3.6 6.7 9.6 9.4 10.3 11.1 12.4 IMF repurchases 1.4 0.9 0.0 0.4 1.6 2.5 0.0 0.8 Net flows 7.8 4.6 49.7 -37.0 -25.5 30.1 12.6 -47.6 Long-term external debt 9.0 5.9 49.5 -5.2 -6.3 -5.4 -7.6 -5.9 Short-term external debt 0.1 -0.5 0.2 -35.0 -21.0 38.0 17.0 -46.0 Interest payments 2.0 2.4 4.1 6.2 6.8 6.6 6.2 4.7 Long-term external debt 1.6 2.0 3.0 4.6 5.5 4.9 4.3 4.0 IMF charges 0.2 0.0 0.0 0.2 0.2 0.1 0.2 0.1 Short-term external debt 0.2 0.4 1.1 1.5 1.1 1.6 1.7 0.6 2. Other non-debt resource inflows Foreign direct investment 12.9 54.1 17.6 19.2 25.9 40.5 56.5 50.3 Portfolio equity -0.4 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.4 3.9 3.4 2.8 2.3 Japanese yen 0.3 1.1 0.4 0.0 0.0 0.0 0.0 0.0 Pound sterling 16.5 13.3 2.8 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 51.7 60.8 81.1 86.0 87.3 86.8 86.6 85.8 4. Average terms of new commitments Official creditors Interest (%) 3.0 2.6 5.2 2.4 0.0 0.8 0.8 0.0 Maturity (years) 25.2 26.4 21.3 21.9 0.0 34.5 34.4 0.0 Grace period (years) 8.5 8.8 6.9 7.6 0.0 10.0 9.9 0.0 Private creditors Interest (%) 0.0 0.0 1.9 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 9.2 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 2.3 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 161.4 210.7 231.8 270.3 300.7 324.8 353.7 359.8 Exports of goods, services & income 93.5 110.7 149.2 135.3 150.6 156.4 160.5 148.3 Worker remit. & comp. of employees 13.9 13.4 16.3 25.0 25.4 25.9 26.1 23.1 Imports of goods, services & income 142.9 158.9 227.1 231.0 220.0 264.5 315.7 289.3 Profit remittances on FDI 5.4 12.2 33.0 22.7 7.4 13.0 12.5 10.2 Current account balance -43.5 -40.2 -59.8 -76.1 -49.9 -86.9 -136.1 -123.2 International reserves 14.5 22.1 29.4 49.2 63.0 60.5 55.2 75.5 6. Ratios External debt stocks to exports (%) 94.1 93.3 110.5 202.3 168.3 185.2 185.1 169.6 External debt stocks to GNI (%) 54.5 49.0 71.1 101.3 84.3 89.2 84.0 69.9 Debt service to exports (%) 6.2 6.1 7.2 12.0 11.8 12.4 10.8 12.0 Short-term to external debt stocks (%) 2.3 6.5 11.5 14.8 8.7 21.8 27.9 15.7 Multilateral to external debt stocks (%) 65.7 62.2 50.6 46.0 47.9 41.9 39.2 46.2 Reserves to external debt stocks (%) 16.4 21.4 17.8 18.0 24.9 20.9 18.6 30.0 Reserves to imports (months) 1.2 1.7 1.6 2.6 3.4 2.7 2.1 3.1 122 DOMINICA 7. Long-term external debt Debt outstanding and disbursed 80.2 94.9 145.8 221.6 217.5 214.4 199.2 192.5 Public and publicly guaranteed 80.2 94.9 145.8 221.6 217.5 214.4 199.2 192.5 Official creditors 80.2 94.9 114.2 172.0 167.8 164.8 156.5 152.4 Multilateral 57.8 64.3 83.4 126.0 121.4 121.2 116.5 116.4 of which: IBRD 0.0 0.0 2.4 3.9 3.3 2.5 1.8 1.2 IDA 10.4 12.2 13.6 21.7 22.5 25.4 26.5 27.5 Bilateral 22.4 30.6 30.8 46.0 46.4 43.6 40.0 36.1 Private creditors 0.1 0.0 31.6 49.6 49.6 49.6 42.7 40.1 of which: Bonds 0.0 0.0 31.6 43.4 43.4 43.4 36.5 33.9 Commercial banks 0.1 0.0 0.0 3.7 3.7 3.7 3.7 3.7 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 Disbursements 11.5 9.5 56.2 4.5 3.1 4.9 3.5 6.5 Public and publicly guaranteed 11.5 9.5 56.2 4.5 3.1 4.9 3.5 6.5 Official creditors 11.5 9.5 25.7 4.5 3.1 4.9 3.5 6.5 Multilateral 8.3 3.5 19.3 3.9 2.6 4.7 3.5 4.9 of which: IBRD 0.0 0.0 0.7 0.3 0.0 0.0 0.0 0.0 IDA 0.9 0.1 -0.1 0.5 0.1 2.3 1.8 1.4 Bilateral 3.2 6.0 6.3 0.6 0.5 0.1 0.0 1.6 Private creditors 0.0 0.0 30.5 0.0 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 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 2.5 3.6 6.7 9.6 9.4 10.3 11.1 12.4 Public and publicly guaranteed 2.5 3.6 6.7 9.6 9.4 10.3 11.1 12.4 Official creditors 2.4 3.6 6.7 9.6 9.4 10.3 11.1 12.4 Multilateral 2.1 2.0 3.9 7.9 7.9 6.8 7.7 7.3 of which: IBRD 0.0 0.0 0.0 0.4 0.6 0.8 0.8 0.6 IDA 0.0 0.1 0.1 0.3 0.3 0.4 0.5 0.5 Bilateral 0.3 1.5 2.8 1.7 1.5 3.5 3.5 5.1 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 0.1 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 4.6 5.5 4.9 4.3 4.0 Public and publicly guaranteed 1.6 2.0 3.0 4.6 5.5 4.9 4.3 4.0 Official creditors 1.6 2.0 2.9 4.2 4.9 4.4 4.1 3.9 Multilateral 1.4 1.6 1.9 3.2 3.2 3.1 2.8 2.8 of which: IBRD 0.0 0.0 0.1 0.2 0.2 0.2 0.1 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 1.0 1.7 1.3 1.3 1.2 Private creditors 0.0 0.0 0.1 0.3 0.6 0.4 0.2 0.1 of which: Bonds 0.0 0.0 0.1 0.3 0.5 0.4 0.1 0.0 Commercial banks 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 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 10.4 5.2 49.3 -30.7 -20.3 36.1 7.6 -45.6 Net flows on external debt 7.8 4.6 49.7 -37.0 -25.5 30.1 12.6 -47.6 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 14.6 11.5 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 16.1 10.4 7.1 7.0 6.7 6.8 6.5 6.1 Interest 3.1 2.7 2.4 2.3 2.1 1.9 1.8 1.7 Private creditors Principal 4.1 0.0 0.0 0.0 30.6 0.0 0.0 0.0 Interest 2.9 2.8 2.8 2.8 2.8 0.0 0.0 0.0 123 DOMINICAN REPUBLIC 1. Summary external debt data External debt stocks 4,372 4,447 4,541 7,075 8,556 10,144 10,121 11,003 Long-term external debt 3,518 3,672 3,311 5,774 6,637 7,120 7,691 8,557 Public and publicly guaranteed 3,419 3,653 3,311 5,772 6,223 6,275 6,848 7,714 Private nonguaranteed 99 19 0 2 414 845 843 843 Use of IMF credit 72 160 52 400 459 548 492 767 Short-term external debt 782 616 1,178 901 1,460 2,476 1,938 1,679 interest arrears on long-term 506 214 28 20 9 9 3 0 Memorandum items 614 320 56 145 33 14 16 1 3,391 3,626 3,299 5,765 6,217 6,270 6,843 7,710 127 46 13 9 420 851 848 847 204 167 469 811 1,336 343 957 2,934 External debt flows Disbursements 138 195 303 894 1,701 1,427 1,420 1,656 Long-term external debt 138 195 303 674 1,560 1,250 1,298 1,348 IMF purchases 0 0 0 220 142 177 122 308 Principal repayments 146 234 257 762 1,023 928 864 818 Long-term external debt 88 200 257 762 918 814 699 770 IMF repurchases 58 34 0 0 105 114 164 47 Net flows 15 105 311 97 1,248 1,516 24 582 Long-term external debt 50 -5 46 -87 641 437 599 577 Short-term external debt 23 143 265 -36 570 1,016 -532 -256 Interest payments 86 175 263 248 320 454 548 509 Long-term external debt 59 145 211 211 255 328 446 429 IMF charges 9 10 3 9 22 26 24 7 Short-term external debt 19 20 50 27 42 100 78 72 2. Other non-debt resource inflows Foreign direct investment 133 414 953 1,123 1,085 1,667 2,870 2,067 Portfolio equity 0 .. .. 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.8 3.4 6.2 7.7 8.7 Japanese yen 6.4 7.7 5.0 2.8 2.1 1.8 2.0 1.9 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 68.4 63.7 73.8 86.9 88.0 86.0 85.4 85.4 4. Average terms of new commitments Official creditors Interest (%) 5.8 6.6 6.5 1.7 4.2 3.7 2.4 2.5 Maturity (years) 24.9 20.2 13.6 21.5 21.2 21.2 23.2 17.1 Grace period (years) 6.4 5.2 1.8 4.1 4.6 4.1 3.3 4.9 Private creditors Interest (%) 9.8 8.4 6.5 3.2 6.4 6.5 6.0 4.8 Maturity (years) 9.1 9.5 10.3 4.0 13.8 9.2 7.1 10.7 Grace period (years) 4.6 2.0 2.7 1.2 8.5 2.2 2.6 3.0 5. Major economic aggregates Gross national income (GNI) 6,759 15,589 22,955 32,102 34,100 39,236 43,726 44,715 Exports of goods, services & income 1,918 5,859 9,264 10,498 11,877 12,766 12,569 10,918 Worker remit. & comp. of employees 315 839 1,839 2,719 3,084 3,427 3,556 3,477 Imports of goods, services & income 2,568 7,034 12,193 13,668 16,309 18,263 20,438 16,382 Profit remittances on FDI 90 624 1,068 1,765 1,932 2,194 1,669 1,577 Current account balance -280 -183 -1,027 -473 -1,288 -2,096 -4,437 .. International reserves 69 373 632 1,853 2,127 2,562 2,288 2,905 6. Ratios External debt stocks to exports (%) 228.0 75.9 49.0 67.4 72.0 79.5 80.5 100.8 External debt stocks to GNI (%) 64.7 28.5 19.8 22.0 25.1 25.9 23.1 24.6 Debt service to exports (%) 12.1 7.0 5.6 9.6 11.3 10.8 11.2 12.1 Short-term to external debt stocks (%) 17.9 13.8 25.9 12.7 17.1 24.4 19.1 15.3 Multilateral to external debt stocks (%) 19.6 23.2 24.9 25.5 22.2 18.6 18.6 23.7 Reserves to external debt stocks (%) 1.6 8.4 13.9 26.2 24.9 25.3 22.6 26.4 Reserves to imports (months) 0.3 0.6 0.6 1.6 1.6 1.7 1.3 2.1 124 DOMINICAN REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 3,518 3,672 3,311 5,774 6,637 7,120 7,691 8,557 Public and publicly guaranteed 3,419 3,653 3,311 5,772 6,223 6,275 6,848 7,714 Official creditors 2,383 2,996 2,565 3,146 3,497 3,626 4,341 5,265 Multilateral 858 1,033 1,132 1,807 1,901 1,886 1,883 2,608 of which: IBRD 238 282 292 405 438 472 449 748 IDA 20 17 14 11 10 9 9 8 Bilateral 1,525 1,962 1,433 1,339 1,596 1,741 2,458 2,657 Private creditors 1,036 657 746 2,627 2,727 2,649 2,506 2,449 of which: Bonds 0 520 506 1,147 1,452 1,326 1,201 1,076 Commercial banks 775 33 121 983 1,109 1,196 1,213 1,295 Private nonguaranteed 99 19 0 2 414 845 843 843 of which: Bonds 0 0 0 0 412 844 843 843 Disbursements 138 195 303 674 1,560 1,250 1,298 1,348 Public and publicly guaranteed 138 195 303 673 1,148 820 1,298 1,348 Official creditors 136 187 147 402 613 454 1,010 1,254 Multilateral 84 157 100 199 187 184 213 904 of which: IBRD 39 36 39 64 67 73 20 352 IDA 0 0 0 0 0 0 0 0 Bilateral 53 30 46 204 426 270 797 350 Private creditors 2 8 156 271 534 366 288 94 of which: Bonds 0 0 0 0 324 0 0 0 Commercial banks 0 8 90 227 193 357 285 90 Private nonguaranteed 0 0 0 2 412 431 0 0 of which: Bonds 0 0 0 0 412 431 0 0 Principal repayments 88 200 257 762 918 814 699 770 Public and publicly guaranteed 83 184 257 762 918 813 699 770 Official creditors 83 161 217 171 373 353 294 338 Multilateral 38 79 63 110 113 215 215 191 of which: IBRD 19 40 21 38 34 39 43 54 IDA 0 1 1 1 1 1 1 1 Bilateral 44 82 154 61 261 137 80 147 Private creditors 0 23 40 591 545 460 404 432 of which: Bonds 0 0 4 336 20 125 125 125 Commercial banks 0 3 18 162 174 291 243 289 Private nonguaranteed 5 16 0 0 0 0 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 59 145 211 211 255 328 446 429 Public and publicly guaranteed 56 143 211 211 253 271 338 321 Official creditors 55 120 158 108 142 147 136 148 Multilateral 32 51 58 82 90 98 87 83 of which: IBRD 14 20 22 21 23 25 24 22 IDA 0 0 0 0 0 0 0 0 Bilateral 23 69 100 26 52 50 48 65 Private creditors 1 23 53 103 112 123 202 173 of which: Bonds 0 13 38 16 45 56 125 113 Commercial banks 0 3 7 38 56 61 70 56 Private nonguaranteed 3 2 0 0 2 57 108 108 of which: Bonds 0 0 0 0 2 57 108 108 8. Debt stock-flow reconciliation Total change in external debt stocks 334 173 -145 -52 1,481 1,588 -23 882 Net flows on external debt 15 105 311 97 1,248 1,516 24 582 9. Debt restructurings Total amount rescheduled 7 2 0 1,209 203 0 0 0 Total amount forgiven 7 0 1 0 0 0 0 0 Debt buyback 0 0 0 316 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 622 462 485 643 810 451 425 370 Interest 122 128 121 113 92 71 62 54 Private creditors Principal 658 457 790 614 279 204 171 110 Interest 247 240 200 147 126 119 111 108 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2005. Long-term private nonguaranteed debt data only cover Inter-American Development Bank and Bonds. 125 ECUADOR 1. Summary external debt data External debt stocks 12,107 13,877 13,254 17,316 17,296 17,787 17,349 12,930 Long-term external debt 10,029 12,391 12,310 15,519 15,284 15,893 15,685 11,511 Public and publicly guaranteed 9,865 11,951 10,875 10,850 10,304 10,710 10,043 6,910 Private nonguaranteed 164 440 1,435 4,668 4,980 5,183 5,642 4,600 Use of IMF credit 265 173 148 78 23 0 0 0 Short-term external debt 1,814 1,312 797 1,719 1,990 1,894 1,664 1,419 interest arrears on long-term 1,522 12 3 1 0 0 31 37 Memorandum items 1,096 10 6 5 0 0 1 1 9,865 11,951 10,875 10,850 10,304 10,705 10,026 6,884 164 440 1,435 4,668 4,980 5,188 5,659 4,626 642 1,162 404 1,328 1,303 1,238 17 162 External debt flows Disbursements 638 1,028 1,125 3,154 2,638 3,039 1,776 1,363 Long-term external debt 606 1,028 976 3,154 2,638 3,039 1,776 1,363 IMF purchases 32 0 150 0 0 0 0 0 Principal repayments 610 750 1,065 3,242 2,935 2,362 1,704 5,465 Long-term external debt 495 721 1,065 3,047 2,877 2,339 1,704 5,465 IMF repurchases 115 29 0 195 58 23 0 0 Net flows 0 -173 -194 -234 -27 581 -189 -4,353 Long-term external debt 110 307 -89 106 -239 700 72 -4,103 Short-term external debt -28 -451 -254 -145 271 -95 -261 -251 Interest payments 474 656 813 957 1,271 1,325 1,009 903 Long-term external debt 416 565 708 842 1,175 1,227 926 848 IMF charges 30 10 4 7 3 1 0 0 Short-term external debt 28 81 102 107 93 97 84 55 2. Other non-debt resource inflows Foreign direct investment 126 452 -23 493 271 194 1,001 316 Portfolio equity 0 13 0 2 0 0 1 2 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.4 3.5 3.4 3.0 4.1 Japanese yen 6.9 4.1 4.5 3.5 3.4 3.1 2.6 3.3 Pound sterling 1.6 0.7 0.8 0.7 0.8 0.7 0.5 0.8 Swiss franc 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 54.5 71.2 83.3 87.4 87.7 88.7 90.0 86.7 4. Average terms of new commitments Official creditors Interest (%) 5.2 6.2 6.9 6.6 6.7 5.4 3.3 3.3 Maturity (years) 22.2 16.4 17.2 8.1 16.7 20.9 18.7 23.0 Grace period (years) 6.0 6.0 5.2 2.9 4.5 4.2 2.2 5.6 Private creditors Interest (%) 8.6 7.9 7.5 9.3 6.0 0.0 6.3 0.0 Maturity (years) 8.7 12.0 9.9 10.0 10.7 0.0 12.6 0.0 Grace period (years) 1.0 2.5 2.5 9.8 1.9 0.0 3.1 0.0 5. Major economic aggregates Gross national income (GNI) 9,145 19,281 14,530 35,245 39,813 43,742 53,078 55,572 Exports of goods, services & income 3,287 5,295 5,976 11,566 14,378 16,329 20,647 15,607 Worker remit. & comp. of employees 51 386 1,322 2,460 2,934 3,094 2,828 2,502 Imports of goods, services & income 3,754 6,736 6,403 13,880 15,863 17,924 22,515 18,372 Profit remittances on FDI 125 144 329 1,004 977 1,160 787 822 Current account balance -360 -1,000 926 347 1,618 1,650 1,120 .. International reserves 1,009 1,788 1,179 2,148 2,026 3,521 4,473 3,792 6. Ratios External debt stocks to exports (%) 368.3 262.1 221.8 149.7 120.3 108.9 84.0 82.8 External debt stocks to GNI (%) 132.4 72.0 91.2 49.1 43.4 40.7 32.7 23.3 Debt service to exports (%) 33.0 26.6 31.4 36.3 29.3 22.6 13.1 40.8 Short-term to external debt stocks (%) 15.0 9.5 6.0 9.9 11.5 10.7 9.6 11.0 Multilateral to external debt stocks (%) 17.6 21.9 27.7 20.8 23.1 26.1 24.7 33.5 Reserves to external debt stocks (%) 8.3 12.9 8.9 12.4 11.7 19.8 25.8 29.3 Reserves to imports (months) 3.2 3.2 2.2 1.9 1.5 2.4 2.4 2.5 126 ECUADOR 7. Long-term external debt Debt outstanding and disbursed 10,029 12,391 12,310 15,519 15,284 15,893 15,685 11,511 Public and publicly guaranteed 9,865 11,951 10,875 10,850 10,304 10,710 10,043 6,910 Official creditors 4,065 5,210 5,881 5,948 6,136 6,582 5,955 5,845 Multilateral 2,127 3,044 3,670 3,609 3,988 4,649 4,283 4,336 of which: IBRD 816 1,082 840 799 746 684 612 532 IDA 32 26 21 15 14 13 12 11 Bilateral 1,938 2,165 2,212 2,339 2,147 1,934 1,672 1,509 Private creditors 5,800 6,742 4,993 4,902 4,168 4,128 4,088 1,065 of which: Bonds 0 5,999 3,950 4,600 3,860 3,860 3,860 873 Commercial banks 4,899 385 910 241 212 194 163 134 Private nonguaranteed 164 440 1,435 4,668 4,980 5,183 5,642 4,600 of which: Bonds 0 10 0 0 0 0 0 0 Disbursements 606 1,028 976 3,154 2,638 3,039 1,776 1,363 Public and publicly guaranteed 575 818 595 991 928 1,347 353 384 Official creditors 329 733 524 318 844 1,323 343 382 Multilateral 227 593 446 316 840 1,314 339 377 of which: IBRD 47 319 69 39 21 8 5 0 IDA 0 0 0 0 0 0 0 0 Bilateral 101 141 78 2 4 9 5 5 Private creditors 246 85 71 674 83 24 10 2 of which: Bonds 0 0 0 650 0 0 0 0 Commercial banks 39 57 71 24 22 24 10 2 Private nonguaranteed 30 210 381 2,162 1,710 1,691 1,423 979 of which: Bonds 0 10 0 0 0 0 0 0 Principal repayments 495 721 1,065 3,047 2,877 2,339 1,704 5,465 Public and publicly guaranteed 470 711 548 922 1,585 1,028 962 3,526 Official creditors 276 486 397 802 772 963 914 501 Multilateral 164 235 324 409 481 685 733 321 of which: IBRD 41 98 89 74 74 70 77 81 IDA 1 1 1 1 1 1 1 1 Bilateral 112 252 73 393 291 277 180 180 Private creditors 194 225 151 120 813 65 49 3,025 of which: Bonds 0 10 0 0 740 0 0 2,987 Commercial banks 27 59 119 101 51 42 41 31 Private nonguaranteed 25 10 517 2,125 1,292 1,311 741 1,939 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 416 565 708 842 1,175 1,227 926 848 Public and publicly guaranteed 404 563 535 657 749 736 655 329 Official creditors 212 321 295 275 317 327 310 226 Multilateral 140 173 264 171 220 238 246 177 of which: IBRD 62 69 74 32 40 42 33 23 IDA 0 0 0 0 0 0 0 0 Bilateral 72 148 31 104 97 89 64 49 Private creditors 191 242 240 383 432 409 345 103 of which: Bonds 0 147 140 367 410 392 331 91 Commercial banks 134 50 89 12 16 10 9 7 Private nonguaranteed 12 1 172 185 426 492 270 519 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 -2,740 -133 -19 491 -438 -4,419 Net flows on external debt 0 -173 -194 -234 -27 581 -189 -4,353 9. Debt restructurings Total amount rescheduled 249 5,818 4,674 0 0 0 0 0 Total amount forgiven 46 1,180 2,522 2 1 4 3 5 Debt buyback 0 0 0 0 0 0 0 2,987 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 564 531 542 520 511 457 430 404 Interest 180 160 141 123 106 91 77 63 Private creditors Principal 1,037 859 649 304 267 926 227 225 Interest 341 291 297 215 187 167 84 84 Notes: Short-term debt is based on reports provided by Central Bank. 127 EGYPT, ARAB REPUBLIC OF 1. Summary external debt data External debt stocks 32,992 33,475 29,016 30,266 30,657 34,120 33,417 33,257 Long-term external debt 28,414 31,000 24,912 28,610 28,937 31,884 30,574 30,696 Public and publicly guaranteed 27,414 30,687 24,339 28,517 28,856 31,864 30,494 30,622 Private nonguaranteed 1,000 313 573 93 81 21 80 74 Use of IMF credit 125 103 0 0 0 0 0 0 Short-term external debt 4,453 2,372 4,104 1,656 1,720 2,236 2,842 2,561 interest arrears on long-term 1,441 4 0 2 1 1 0 0 Memorandum items 3,542 148 14 8 2 2 2 2 27,393 30,684 24,337 28,231 28,417 31,258 29,960 30,182 1,021 316 574 379 520 626 614 514 1,223 207 1,034 3,053 2,472 1,437 2,183 1,832 External debt flows Disbursements 1,951 642 575 2,998 763 3,139 1,122 1,977 Long-term external debt 1,951 642 575 2,998 763 3,139 1,122 1,977 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 1,750 988 1,100 1,571 1,628 2,031 2,310 2,071 Long-term external debt 1,704 894 1,100 1,571 1,628 2,031 2,310 2,071 IMF repurchases 47 94 0 0 0 0 0 0 Net flows -1,301 92 -714 1,364 -801 1,623 -582 -376 Long-term external debt 248 -251 -525 1,428 -866 1,107 -1,189 -95 Short-term external debt -1,502 438 -189 -64 65 516 607 -281 Interest payments 1,322 1,393 733 699 840 907 935 870 Long-term external debt 1,007 1,252 619 617 744 795 822 768 IMF charges 14 9 0 0 0 0 0 0 Short-term external debt 301 132 113 83 96 112 113 102 2. Other non-debt resource inflows Foreign direct investment 734 598 1,235 5,376 10,043 11,578 9,495 6,712 Portfolio equity 0 0 269 729 502 -3,199 -674 393 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 32.5 35.0 35.4 34.3 35.3 Japanese yen 8.2 13.1 13.8 12.6 12.2 10.7 13.3 12.7 Pound sterling 2.5 1.4 1.2 1.9 2.0 1.8 1.3 1.3 Swiss franc 3.0 2.7 2.1 1.8 1.9 1.7 1.8 1.7 U.S.dollars 41.9 34.5 39.8 38.0 35.8 36.0 35.1 34.1 4. Average terms of new commitments Official creditors Interest (%) 4.7 3.1 4.6 5.2 4.4 2.2 3.1 1.6 Maturity (years) 28.6 22.0 21.6 18.8 21.4 16.5 20.9 23.2 Grace period (years) 7.5 6.6 5.6 7.6 7.4 6.5 5.6 6.7 Private creditors Interest (%) 8.4 6.5 5.8 4.4 2.2 6.4 1.0 0.0 Maturity (years) 11.5 4.3 4.3 7.6 5.3 6.6 3.3 0.0 Grace period (years) 3.4 2.4 3.1 7.1 3.1 4.8 2.5 0.0 5. Major economic aggregates Gross national income (GNI) 42,025 60,038 100,838 89,474 108,015 131,650 164,178 188,496 Exports of goods, services & income 10,752 14,838 18,735 32,141 39,241 47,707 57,826 45,601 Worker remit. & comp. of employees 4,284 3,226 2,852 5,017 5,330 7,656 8,694 7,150 Imports of goods, services & income 15,969 19,123 23,878 35,787 42,375 55,618 68,999 56,910 Profit remittances on FDI 14 228 92 647 915 1,015 680 2,101 Current account balance 2,327 -254 -971 2,103 2,635 412 -1,415 -3,349 International reserves 3,620 17,122 13,785 21,857 26,007 32,214 34,331 34,897 6. Ratios External debt stocks to exports (%) 306.9 225.6 154.9 94.2 78.1 71.5 57.8 72.9 External debt stocks to GNI (%) 78.5 55.8 28.8 33.8 28.4 25.9 20.4 17.6 Debt service to exports (%) 28.6 16.0 9.8 7.1 6.3 6.2 5.6 6.5 Short-term to external debt stocks (%) 13.5 7.1 14.1 5.5 5.6 6.6 8.5 7.7 Multilateral to external debt stocks (%) 10.3 12.0 13.5 17.0 18.3 22.1 22.4 25.3 Reserves to external debt stocks (%) 11.0 51.1 47.5 72.2 84.8 94.4 102.7 104.9 Reserves to imports (months) 2.7 10.7 6.9 7.3 7.4 7.0 6.0 7.4 128 EGYPT, ARAB REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 28,414 31,000 24,912 28,610 28,937 31,884 30,574 30,696 Public and publicly guaranteed 27,414 30,687 24,339 28,517 28,856 31,864 30,494 30,622 Official creditors 21,165 28,934 23,799 25,743 26,525 28,894 27,906 28,328 Multilateral 3,403 4,022 3,921 5,143 5,599 7,541 7,498 8,413 of which: IBRD 1,480 1,320 639 492 544 1,181 1,255 1,850 IDA 921 1,035 1,266 1,420 1,481 1,490 1,444 1,400 Bilateral 17,763 24,912 19,879 20,600 20,926 21,353 20,408 19,915 Private creditors 6,249 1,753 540 2,774 2,331 2,970 2,588 2,293 of which: Bonds 0 0 0 1,829 1,576 2,199 2,184 1,883 Commercial banks 731 560 317 798 621 665 314 325 Private nonguaranteed 1,000 313 573 93 81 21 80 74 of which: Bonds 0 0 100 0 0 0 0 0 Disbursements 1,951 642 575 2,998 763 3,139 1,122 1,977 Public and publicly guaranteed 1,900 642 368 2,998 763 3,138 1,052 1,968 Official creditors 1,198 602 223 1,040 701 2,401 954 1,879 Multilateral 269 392 174 874 576 2,265 711 1,465 of which: IBRD 92 42 6 97 108 723 143 684 IDA 8 83 49 69 57 13 11 2 Bilateral 929 209 50 166 125 136 244 414 Private creditors 703 40 144 1,958 62 737 97 89 of which: Bonds 0 0 0 1,250 0 643 0 0 Commercial banks 175 31 132 707 60 82 93 89 Private nonguaranteed 51 0 207 0 0 0 70 9 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 1,704 894 1,100 1,571 1,628 2,031 2,310 2,071 Public and publicly guaranteed 1,572 832 984 1,571 1,628 1,970 2,300 2,052 Official creditors 884 542 863 1,344 1,357 1,874 1,831 1,941 Multilateral 282 310 298 425 371 674 572 619 of which: IBRD 176 198 87 77 66 97 77 89 IDA 7 14 23 41 42 47 50 52 Bilateral 603 232 564 919 985 1,200 1,259 1,322 Private creditors 687 290 121 227 271 96 469 111 of which: Bonds 1 0 0 0 0 0 0 0 Commercial banks 34 91 57 201 254 49 437 85 Private nonguaranteed 132 62 116 0 1 61 11 20 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1,007 1,252 619 617 744 795 822 768 Public and publicly guaranteed 918 1,228 603 612 725 793 819 766 Official creditors 719 1,121 573 545 581 673 706 645 Multilateral 184 232 147 136 174 229 260 232 of which: IBRD 138 114 41 21 27 47 58 55 IDA 7 7 9 11 11 11 11 10 Bilateral 535 889 425 409 406 444 446 413 Private creditors 199 106 31 68 145 120 112 120 of which: Bonds 0 0 0 51 106 84 85 112 Commercial banks 48 44 16 12 35 34 24 7 Private nonguaranteed 89 24 16 4 19 2 3 2 of which: Bonds 0 0 12 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -12,667 976 -1,869 -858 391 3,463 -704 -159 Net flows on external debt -1,301 92 -714 1,364 -801 1,623 -582 -376 9. Debt restructurings Total amount rescheduled 0 309 22 1 1 1 0 0 Total amount forgiven 13,057 54 25 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 2,850 2,960 3,629 3,279 2,954 2,772 2,648 1,445 Interest 641 584 529 466 401 340 289 247 Private creditors Principal 102 103 761 58 55 1,303 50 39 Interest 121 121 120 63 62 61 3 2 Notes: Short-term debt is based on the Central Bank data from 2001. Data on long-term private nonguaranteed debt are revised based on reports provided by the country. 129 EL SALVADOR 1. Summary external debt data External debt stocks 2,145 2,509 4,467 8,984 9,842 9,516 10,111 11,384 Long-term external debt 1,935 1,984 2,822 7,409 8,878 8,515 9,059 9,270 Public and publicly guaranteed 1,909 1,979 2,710 4,786 5,589 5,435 5,743 6,131 Private nonguaranteed 26 5 111 2,622 3,289 3,079 3,316 3,139 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 210 525 1,645 1,575 964 1,001 1,052 2,114 interest arrears on long-term 7 3 0 0 0 0 0 0 Memorandum items 6 6 0 0 0 0 0 0 1,901 1,972 2,705 4,782 5,585 5,432 5,739 6,128 34 11 117 2,626 3,293 3,083 3,319 3,142 131 832 347 693 1,146 251 1,068 810 External debt flows Disbursements 108 206 371 1,222 1,643 251 1,042 1,217 Long-term external debt 108 206 371 1,222 1,643 251 1,042 1,217 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 124 160 157 405 671 550 488 685 Long-term external debt 118 160 157 405 671 550 488 685 IMF repurchases 5 0 0 0 0 0 0 0 Net flows 2 383 807 613 361 -262 605 1,594 Long-term external debt -11 46 214 817 972 -299 554 532 Short-term external debt 18 337 592 -205 -611 37 51 1,062 Interest payments 84 120 212 445 519 505 515 539 Long-term external debt 75 98 139 344 464 466 484 477 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 9 22 73 101 55 39 31 62 2. Other non-debt resource inflows Foreign direct investment 2 38 173 511 241 1,508 784 431 Portfolio equity 0 0 0 0 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.5 3.3 3.8 3.4 3.2 Japanese yen 1.3 1.8 6.7 4.9 4.3 4.7 5.9 5.2 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 56.5 46.7 68.3 81.5 84.1 83.2 83.5 85.3 4. Average terms of new commitments Official creditors Interest (%) 3.2 6.5 7.2 5.1 6.0 5.6 5.5 2.3 Maturity (years) 35.6 22.3 18.6 18.6 18.0 21.9 10.7 24.6 Grace period (years) 8.8 5.2 4.0 2.2 4.0 3.3 3.3 4.9 Private creditors Interest (%) 10.4 6.1 9.6 7.7 7.6 0.0 4.1 0.0 Maturity (years) 5.0 26.3 9.2 30.4 27.9 0.0 2.0 0.0 Grace period (years) 0.5 5.8 2.3 30.4 27.9 0.0 2.0 0.0 5. Major economic aggregates Gross national income (GNI) 4,801 9,500 13,134 17,070 18,654 19,797 21,579 20,978 Exports of goods, services & income 1,003 2,094 3,803 4,749 5,419 5,820 6,343 4,856 Worker remit. & comp. of employees 366 1,064 1,765 3,030 3,485 3,712 3,804 3,480 Imports of goods, services & income 1,785 3,744 6,031 8,352 9,562 10,753 11,771 7,966 Profit remittances on FDI 31 0 60 181 91 172 73 .. Current account balance -152 -262 -431 -569 -671 -1,183 -1,596 .. International reserves 595 940 1,901 1,890 1,963 2,304 2,646 3,122 6. Ratios External debt stocks to exports (%) 213.9 119.8 117.5 189.2 181.6 163.5 159.4 234.4 External debt stocks to GNI (%) 44.7 26.4 34.0 52.6 52.8 48.1 46.9 54.3 Debt service to exports (%) 20.7 13.4 9.7 17.9 22.0 18.1 15.8 25.2 Short-term to external debt stocks (%) 9.8 20.9 36.8 17.5 9.8 10.5 10.4 18.6 Multilateral to external debt stocks (%) 36.6 54.7 42.5 27.1 25.5 26.3 27.4 28.1 Reserves to external debt stocks (%) 27.8 37.5 42.6 21.0 19.9 24.2 26.2 27.4 Reserves to imports (months) 4.0 3.0 3.8 2.7 2.5 2.6 2.7 4.7 130 EL SALVADOR 7. Long-term external debt Debt outstanding and disbursed 1,935 1,984 2,822 7,409 8,878 8,515 9,059 9,270 Public and publicly guaranteed 1,909 1,979 2,710 4,786 5,589 5,435 5,743 6,131 Official creditors 1,725 1,870 2,505 3,067 3,141 3,160 3,475 3,867 Multilateral 784 1,374 1,900 2,431 2,507 2,507 2,770 3,200 of which: IBRD 140 307 309 436 417 401 400 569 IDA 23 20 16 12 11 10 9 9 Bilateral 941 496 605 636 633 653 705 667 Private creditors 184 109 205 1,719 2,448 2,275 2,267 2,264 of which: Bonds 0 0 82 1,636 2,344 2,242 2,174 2,174 Commercial banks 127 74 102 58 78 5 68 66 Private nonguaranteed 26 5 111 2,622 3,289 3,079 3,316 3,139 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 108 206 371 1,222 1,643 251 1,042 1,217 Public and publicly guaranteed 108 206 321 682 998 251 666 911 Official creditors 77 201 200 337 373 250 601 911 Multilateral 44 165 159 308 347 226 563 905 of which: IBRD 2 26 34 129 25 35 52 228 IDA 0 0 0 0 0 0 0 0 Bilateral 33 35 41 28 25 24 38 7 Private creditors 30 5 120 345 625 0 65 0 of which: Bonds 0 0 32 343 625 0 0 0 Commercial banks 25 5 87 0 0 0 65 0 Private nonguaranteed 0 0 51 540 645 0 376 306 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 118 160 157 405 671 550 488 685 Public and publicly guaranteed 105 157 124 244 457 340 349 557 Official creditors 94 123 120 228 330 280 346 554 Multilateral 57 78 87 184 287 241 305 508 of which: IBRD 15 21 17 40 44 51 53 59 IDA 1 1 1 1 1 1 1 1 Bilateral 37 45 33 44 43 39 41 45 Private creditors 11 33 4 16 127 60 4 4 of which: Bonds 0 0 0 0 121 30 0 0 Commercial banks 9 25 4 14 5 28 2 2 Private nonguaranteed 14 3 33 160 214 210 139 127 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 75 98 139 344 464 466 484 477 Public and publicly guaranteed 72 98 132 257 334 348 368 375 Official creditors 62 89 123 118 126 137 136 141 Multilateral 50 62 103 101 111 123 121 125 of which: IBRD 14 22 24 14 22 24 19 16 IDA 0 0 0 0 0 0 0 0 Bilateral 13 27 19 17 16 14 15 15 Private creditors 9 9 9 139 207 211 232 235 of which: Bonds 0 0 8 133 206 209 232 232 Commercial banks 8 7 1 6 1 2 0 3 Private nonguaranteed 3 0 7 87 131 117 116 102 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 65 412 778 467 859 -327 595 1,273 Net flows on external debt 2 383 807 613 361 -262 605 1,594 9. Debt restructurings Total amount rescheduled 84 0 0 0 0 0 0 0 Total amount forgiven 0 0 17 0 0 0 3 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 388 319 299 262 267 266 253 245 Interest 143 130 118 106 95 85 75 65 Private creditors Principal 872 936 431 347 262 220 178 178 Interest 282 247 209 193 181 171 163 162 Notes: Data on long-term private nonguaranteed debt are World Bank staff estimates based on Balance of Payments reported by the country from 2005. 131 ERITREA 1. Summary external debt data External debt stocks .. 37 300 725 785 860 961 1,019 Long-term external debt .. 37 298 723 781 856 957 1,013 Public and publicly guaranteed .. 37 298 723 781 856 957 1,013 Private nonguaranteed .. 0 0 0 0 0 0 0 Use of IMF credit .. 0 0 0 0 0 0 0 Short-term external debt .. 0 2 2 4 4 4 6 interest arrears on long-term .. 0 2 2 4 4 4 6 Memorandum items .. 0 5 14 21 18 8 13 .. 37 298 723 781 856 957 1,013 .. 0 0 0 0 0 0 0 .. 111 174 0 39 46 80 49 External debt flows Disbursements .. 7 51 71 38 42 105 58 Long-term external debt .. 7 51 71 38 42 105 58 IMF purchases .. 0 0 0 0 0 0 0 Principal repayments .. 0 0 12 6 2 7 11 Long-term external debt .. 0 0 12 6 2 7 11 IMF repurchases .. 0 0 0 0 0 0 0 Net flows .. 7 50 59 32 40 98 46 Long-term external debt .. 7 50 59 32 40 98 46 Short-term external debt .. 0 0 0 0 0 0 0 Interest payments .. 0 2 8 6 4 9 10 Long-term external debt .. 0 2 8 6 4 9 10 IMF charges .. 0 0 0 0 0 0 0 Short-term external debt .. 0 0 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment .. .. 28 -1 0 0 0 0 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.3 5.4 5.5 4.7 4.4 Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 66.3 57.0 68.5 68.1 67.9 66.6 67.8 4. Average terms of new commitments Official creditors Interest (%) .. 2.0 0.7 0.0 2.0 2.0 5.5 1.7 Maturity (years) .. 23.9 39.7 0.0 22.9 17.6 5.5 18.2 Grace period (years) .. 5.6 10.4 0.0 6.3 3.1 3.0 5.0 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 586 634 1,162 1,272 1,365 1,641 .. Exports of goods, services & income .. 142 107 .. .. .. .. .. Worker remit. & comp. of employees .. .. 3 .. .. .. .. .. Imports of goods, services & income .. 498 510 .. .. 474 .. .. Profit remittances on FDI .. .. 4 .. .. .. .. .. Current account balance .. -31 -105 .. .. .. .. .. International reserves .. 40 36 28 25 34 58 .. 6. Ratios External debt stocks to exports (%) .. 25.8 280.7 .. .. .. .. .. External debt stocks to GNI (%) .. 6.3 47.3 62.4 61.7 63.0 58.6 .. Debt service to exports (%) .. 0.1 2.8 .. .. .. .. .. Short-term to external debt stocks (%) .. .. 0.7 0.2 0.5 0.5 0.5 0.6 Multilateral to external debt stocks (%) .. 66.3 50.6 70.4 71.5 71.3 66.9 64.5 Reserves to external debt stocks (%) .. 110.4 12.0 3.9 3.2 4.0 6.0 .. Reserves to imports (months) .. 1.0 0.8 .. .. 0.9 .. .. 132 ERITREA 7. Long-term external debt Debt outstanding and disbursed .. 37 298 723 781 856 957 1,013 Public and publicly guaranteed .. 37 298 723 781 856 957 1,013 Official creditors .. 37 298 690 745 815 917 972 Multilateral .. 24 152 510 562 613 644 658 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 24 84 381 419 457 473 477 Bilateral .. 12 146 180 183 201 274 315 Private creditors .. 0 0 33 37 41 40 41 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 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 Disbursements .. 7 51 71 38 42 105 58 Public and publicly guaranteed .. 7 51 71 38 42 105 58 Official creditors .. 7 51 71 37 42 104 58 Multilateral .. 5 39 70 33 28 32 12 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 5 32 57 20 21 23 4 Bilateral .. 2 12 1 4 14 72 46 Private creditors .. 0 0 0 0 0 1 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 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 Principal repayments .. 0 0 12 6 2 7 11 Public and publicly guaranteed .. 0 0 12 6 2 7 11 Official creditors .. 0 0 12 6 2 7 11 Multilateral .. 0 0 7 4 1 5 7 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 1 1 1 3 3 Bilateral .. 0 0 5 2 0 1 4 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 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 0 2 8 6 4 9 10 Public and publicly guaranteed .. 0 2 8 6 4 9 10 Official creditors .. 0 2 8 6 4 9 10 Multilateral .. 0 1 6 5 4 5 5 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 3 4 3 3 3 Bilateral .. 0 1 3 1 0 4 5 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 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 .. 8 47 19 60 75 102 57 Net flows on external debt .. 7 50 59 32 40 98 46 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 17 21 5 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 40 67 68 67 43 37 34 35 Interest 12 12 11 9 8 7 7 7 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 133 ETHIOPIA 1. Summary external debt data External debt stocks 8,645 10,322 5,495 6,208 2,277 2,620 2,879 5,025 Long-term external debt 8,493 9,788 5,339 5,928 2,201 2,571 2,829 4,812 Public and publicly guaranteed 8,493 9,788 5,339 5,928 2,201 2,571 2,829 4,812 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 6 73 77 160 0 0 0 168 Short-term external debt 145 460 79 120 76 49 50 45 interest arrears on long-term 43 437 65 36 36 32 32 32 Memorandum items 236 3,628 652 508 374 373 373 373 8,492 9,788 5,339 5,928 2,201 2,571 2,829 4,812 1 0 0 0 0 0 0 0 580 170 500 748 1,904 992 1,065 1,445 External debt flows Disbursements 374 232 185 527 370 380 379 2,308 Long-term external debt 374 232 185 527 370 380 379 2,143 IMF purchases 0 0 0 0 0 0 0 165 Principal repayments 177 92 85 40 89 88 72 62 Long-term external debt 152 92 72 36 89 88 72 62 IMF repurchases 25 0 13 4 0 0 0 0 Net flows 203 133 90 478 237 269 309 2,242 Long-term external debt 222 140 114 491 281 292 307 2,081 Short-term external debt 7 -8 -11 -9 -44 -23 1 -5 Interest payments 59 63 53 54 49 45 40 41 Long-term external debt 49 61 52 49 47 44 39 40 IMF charges 2 0 0 1 0 0 0 0 Short-term external debt 8 1 1 3 3 1 1 1 2. Other non-debt resource inflows Foreign direct investment .. 14 135 265 545 222 109 94 Portfolio equity 0 .. .. 0 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.6 14.9 17.5 16.9 8.5 Japanese yen 0.5 0.4 0.3 0.2 0.1 0.1 0.1 0.0 Pound sterling 0.3 0.2 0.3 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 24.2 29.0 75.8 72.4 63.6 58.2 55.1 68.7 4. Average terms of new commitments Official creditors Interest (%) 1.9 1.0 0.8 0.9 1.1 0.9 2.9 1.3 Maturity (years) 32.7 36.3 38.4 32.3 34.9 39.5 27.4 31.4 Grace period (years) 7.9 9.3 10.0 6.3 8.9 9.6 6.9 8.7 Private creditors Interest (%) 9.8 0.0 0.0 0.0 6.4 5.2 5.1 3.9 Maturity (years) 14.1 0.0 0.0 0.0 16.8 7.5 6.3 11.4 Grace period (years) 0.4 0.0 0.0 0.0 3.3 2.9 2.6 2.6 5. Major economic aggregates Gross national income (GNI) 12,016 7,545 8,119 12,269 15,124 19,196 25,931 28,500 Exports of goods, services & income 606 836 1,008 1,973 2,254 2,729 3,552 3,370 Worker remit. & comp. of employees 5 27 53 174 172 358 387 301 Imports of goods, services & income 1,349 1,533 1,673 4,943 5,314 6,945 9,653 9,271 Profit remittances on FDI 0 0 9 21 24 18 17 .. Current account balance -294 39 13 -1,568 -1,786 -828 -1,806 .. International reserves 55 815 363 1,043 867 1,290 871 1,781 6. Ratios External debt stocks to exports (%) 1,427.1 1,234.8 544.9 314.7 101.0 96.0 81.1 149.1 External debt stocks to GNI (%) 71.9 136.8 67.7 50.6 15.1 13.6 11.1 17.6 Debt service to exports (%) 39.0 18.5 13.7 4.7 6.2 4.9 3.1 3.1 Short-term to external debt stocks (%) 1.7 4.5 1.4 1.9 3.3 1.9 1.7 0.9 Multilateral to external debt stocks (%) 14.8 22.8 50.1 75.8 47.5 52.5 55.7 46.0 Reserves to external debt stocks (%) 0.6 7.9 6.6 16.8 38.1 49.2 30.2 35.4 Reserves to imports (months) 0.5 6.4 2.6 2.5 2.0 2.2 1.1 2.3 134 ETHIOPIA 7. Long-term external debt Debt outstanding and disbursed 8,493 9,788 5,339 5,928 2,201 2,571 2,829 4,812 Public and publicly guaranteed 8,493 9,788 5,339 5,928 2,201 2,571 2,829 4,812 Official creditors 7,920 9,198 5,226 5,564 1,885 2,299 2,590 3,553 Multilateral 1,283 2,354 2,752 4,703 1,082 1,376 1,603 2,310 of which: IBRD 27 0 0 0 0 0 0 0 IDA 824 1,470 1,779 3,359 553 711 859 1,422 Bilateral 6,637 6,844 2,473 861 803 923 987 1,243 Private creditors 573 590 113 364 316 272 239 1,259 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 116 253 12 1 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 374 232 185 527 370 380 379 2,143 Public and publicly guaranteed 374 232 185 527 370 380 379 2,143 Official creditors 324 232 184 400 370 380 379 1,096 Multilateral 139 209 181 323 290 272 285 755 of which: IBRD 0 0 0 0 0 0 0 0 IDA 74 84 137 162 179 132 160 553 Bilateral 185 23 3 76 80 108 95 341 Private creditors 51 0 2 127 0 0 0 1,046 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 36 89 88 72 62 Public and publicly guaranteed 152 92 72 36 89 88 72 62 Official creditors 45 44 62 25 44 44 39 34 Multilateral 16 40 56 15 34 34 30 28 of which: IBRD 7 4 0 0 0 0 0 0 IDA 4 12 21 0 0 0 3 4 Bilateral 29 3 6 10 10 9 8 6 Private creditors 107 48 10 11 45 44 33 27 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 45 39 4 0 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 Interest payments 49 61 52 49 47 44 39 40 Public and publicly guaranteed 49 61 52 49 47 44 39 40 Official creditors 24 32 48 40 30 29 27 32 Multilateral 13 24 34 29 25 17 19 19 of which: IBRD 2 0 0 0 0 0 0 0 IDA 6 11 13 15 9 6 7 8 Bilateral 11 9 14 11 5 12 8 14 Private creditors 24 29 4 10 17 15 11 8 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 -455 -3,931 343 259 2,146 Net flows on external debt 203 133 90 478 237 269 309 2,242 9. Debt restructurings Total amount rescheduled 0 30 0 168 0 0 0 0 Total amount forgiven 66 8 0 452 4,357 13 31 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 84 106 115 137 168 177 184 223 Interest 51 56 59 61 61 60 58 55 Private creditors Principal 345 169 162 158 152 145 127 124 Interest 25 28 27 23 22 19 16 14 Notes: Ethiopia was granted debt relief effective in 2006 under MDRI. 135 FIJI 1. Summary external debt data External debt stocks 308.4 178.2 172.6 185.7 354.2 347.3 379.9 431.7 Long-term external debt 296.4 163.2 172.4 185.4 342.2 347.0 360.5 361.6 Public and publicly guaranteed 296.4 163.2 172.4 185.4 342.2 347.0 360.1 361.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.5 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 12.0 15.0 0.2 0.4 12.0 0.3 19.4 70.1 interest arrears on long-term 0.0 0.1 0.2 0.4 1.0 0.3 0.4 0.1 Memorandum items 0.0 0.0 0.0 0.0 2.0 1.5 2.2 0.0 296.4 163.2 99.5 112.5 269.3 274.1 287.2 288.1 0.0 0.0 72.9 72.9 72.9 72.9 73.3 73.4 30.0 10.5 0.0 25.0 170.7 0.0 0.0 17.6 External debt flows Disbursements 15.1 15.2 7.1 14.1 162.8 12.6 13.4 15.2 Long-term external debt 15.1 15.2 7.1 14.1 162.8 12.6 13.4 15.2 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 55.5 31.2 16.9 8.5 7.6 10.4 7.8 9.8 Long-term external debt 54.6 31.2 16.9 8.5 7.6 10.4 7.8 9.8 IMF repurchases 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows -42.3 -17.1 -9.8 -47.5 166.2 -8.8 24.6 56.5 Long-term external debt -39.5 -16.0 -9.8 5.5 155.2 2.2 5.6 5.5 Short-term external debt -2.0 -1.1 0.0 -53.0 11.0 -11.0 19.0 51.0 Interest payments 25.2 11.2 7.7 5.5 6.2 16.1 16.0 15.8 Long-term external debt 23.7 10.3 7.7 5.5 5.7 16.1 15.8 14.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 1.5 0.9 0.0 0.0 0.6 0.0 0.3 1.4 2. Other non-debt resource inflows Foreign direct investment 91.9 69.5 0.6 155.7 412.4 337.8 309.3 237.8 Portfolio equity 0.0 0.0 0.0 1.7 -3.0 4.2 1.4 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.3 1.3 1.3 1.1 0.6 Japanese yen 0.0 0.0 0.8 9.7 4.9 4.8 5.4 4.9 Pound sterling 13.7 3.3 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 5.4 0.8 49.0 64.2 81.2 83.4 82.7 83.3 4. Average terms of new commitments Official creditors Interest (%) 6.6 4.5 0.0 4.3 2.0 0.0 0.0 0.8 Maturity (years) 24.8 12.0 0.0 24.7 20.4 0.0 0.0 31.6 Grace period (years) 5.1 4.5 0.0 5.2 0.4 0.0 0.0 8.1 Private creditors Interest (%) 8.8 0.0 0.0 0.0 6.9 0.0 0.0 0.0 Maturity (years) 10.4 0.0 0.0 0.0 5.0 0.0 0.0 0.0 Grace period (years) 6.3 0.0 0.0 0.0 5.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1289.6 1931.1 1717.4 3049.9 2982.5 3304.8 3544.0 3038.4 Exports of goods, services & income 881.6 1139.1 1023.2 1620.7 1553.2 1657.8 1935.0 .. Worker remit. & comp. of employees 21.9 32.9 44.0 185.1 184.7 160.5 123.4 119.3 Imports of goods, services & income 974.3 1254.7 1136.4 2088.2 2343.0 2316.3 2749.1 .. Profit remittances on FDI 49.4 83.7 7.5 114.7 162.4 116.9 56.9 .. Current account balance -94.0 -112.7 -25.5 -292.7 -590.7 -475.4 -630.0 .. International reserves 261.1 349.3 412.0 318.8 .. .. .. .. 6. Ratios External debt stocks to exports (%) 35.0 15.6 16.9 11.5 22.8 20.9 19.6 .. External debt stocks to GNI (%) 23.9 9.2 10.1 6.1 11.9 10.5 10.7 14.2 Debt service to exports (%) 9.1 3.7 2.4 0.9 0.9 1.6 1.2 .. Short-term to external debt stocks (%) 3.9 8.4 0.1 0.2 3.4 0.1 5.1 16.2 Multilateral to external debt stocks (%) 65.5 84.0 51.4 49.5 27.3 29.3 28.6 24.0 Reserves to external debt stocks (%) 84.7 196.0 238.7 171.7 .. .. .. .. Reserves to imports (months) 3.2 3.3 4.4 1.8 .. .. .. .. 136 FIJI 7. Long-term external debt Debt outstanding and disbursed 296.4 163.2 172.4 185.4 342.2 347.0 360.5 361.6 Public and publicly guaranteed 296.4 163.2 172.4 185.4 342.2 347.0 360.1 361.0 Official creditors 269.5 162.7 172.4 185.4 192.2 197.0 210.1 211.0 Multilateral 202.0 149.7 88.8 91.8 96.7 101.6 108.6 103.6 of which: IBRD 67.8 35.3 19.7 6.3 4.3 2.6 1.5 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 67.5 13.0 83.6 93.5 95.5 95.4 101.4 107.5 Private creditors 26.9 0.6 0.0 0.0 150.0 150.0 150.0 150.0 of which: Bonds 0.0 0.0 0.0 0.0 150.0 150.0 150.0 150.0 Commercial banks 12.1 0.4 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 0.4 0.5 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 14.1 162.8 12.6 13.4 15.2 Public and publicly guaranteed 15.1 15.2 7.1 14.1 162.8 12.6 13.2 15.0 Official creditors 14.4 15.2 7.1 14.1 12.8 12.6 13.2 15.0 Multilateral 13.2 15.2 5.6 14.1 9.7 12.6 10.0 5.3 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 0.0 3.1 0.0 3.3 9.7 Private creditors 0.7 0.0 0.0 0.0 150.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 150.0 0.0 0.0 0.0 Commercial banks 0.6 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 0.2 0.3 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 8.5 7.6 10.4 7.8 9.8 Public and publicly guaranteed 54.6 31.2 16.9 8.5 7.6 10.4 7.7 9.7 Official creditors 41.5 30.2 16.9 8.5 7.6 10.4 7.7 9.7 Multilateral 33.8 28.2 14.8 6.5 6.3 9.1 6.3 6.3 of which: IBRD 9.1 11.5 7.7 2.3 2.2 1.8 1.3 1.4 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 7.7 2.0 2.1 2.0 1.3 1.3 1.4 3.4 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 5.5 5.7 16.1 15.8 14.4 Public and publicly guaranteed 23.7 10.3 7.7 5.5 5.7 16.1 15.8 14.4 Official creditors 21.0 10.2 7.7 5.5 5.7 5.8 5.5 4.1 Multilateral 15.0 9.5 5.2 3.2 3.8 4.1 3.8 2.5 of which: IBRD 5.6 3.0 1.4 0.4 0.3 0.2 0.1 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 6.0 0.7 2.5 2.3 1.9 1.6 1.7 1.5 Private creditors 2.6 0.1 0.0 0.0 0.0 10.3 10.3 10.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 10.3 10.3 10.3 Commercial banks 1.1 0.1 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 -3.8 -12.8 -19.0 -60.2 168.5 -6.9 32.6 51.8 Net flows on external debt -42.3 -17.1 -9.8 -47.5 166.2 -8.8 24.6 56.5 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 2.2 0.0 4.1 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 48.7 48.9 12.6 10.9 11.0 11.2 11.3 10.8 Interest 5.1 4.0 3.0 2.7 2.5 2.3 2.0 1.8 Private creditors Principal 0.1 150.1 0.1 0.1 0.1 0.1 0.0 0.0 Interest 10.3 10.3 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Long-term private nonguaranteed debt data are reported by the Reserve Bank for the first time. 137 GABON 1. Summary external debt data External debt stocks 3,983 4,361 3,902 3,877 4,187 2,845 2,173 2,130 Long-term external debt 3,150 3,977 3,457 3,562 3,697 2,599 2,055 2,022 Public and publicly guaranteed 3,150 3,977 3,457 3,562 3,697 2,599 2,055 2,022 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 140 97 89 68 57 25 0 0 Short-term external debt 693 287 355 247 434 221 118 108 interest arrears on long-term 130 0 63 187 344 6 10 5 Memorandum items 82 26 118 341 773 38 28 9 3,148 3,977 3,457 3,562 3,697 2,599 2,055 2,022 2 0 0 0 0 0 0 0 65 89 20 142 40 1,946 641 420 External debt flows Disbursements 204 279 51 18 87 1,089 108 265 Long-term external debt 195 222 34 18 87 1,089 108 265 IMF purchases 9 57 17 0 0 0 0 0 Principal repayments 40 216 198 136 128 2,280 642 320 Long-term external debt 26 165 188 111 114 2,246 617 320 IMF repurchases 15 52 10 25 14 34 25 0 Net flows 164 14 -363 -58 -11 -1,066 -641 -60 Long-term external debt 170 57 -154 -93 -27 -1,157 -509 -55 Short-term external debt 0 -49 -216 60 30 125 -107 -5 Interest payments 136 240 154 57 42 386 228 148 Long-term external debt 78 217 124 52 36 377 224 144 IMF charges 13 5 4 3 3 3 1 0 Short-term external debt 45 17 26 2 3 6 4 4 2. Other non-debt resource inflows Foreign direct investment 73 -315 -43 242 268 269 209 33 Portfolio equity 0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 47.5 48.9 35.1 26.4 24.5 Japanese yen 0.7 0.9 0.8 0.5 0.5 0.4 0.5 0.2 Pound sterling 5.3 5.0 4.6 4.4 4.9 4.6 0.9 0.7 Swiss franc 0.3 0.8 0.5 0.2 0.2 0.2 0.0 0.0 U.S.dollars 10.3 11.5 29.1 36.2 34.6 44.7 54.4 55.1 4. Average terms of new commitments Official creditors Interest (%) 7.7 4.7 0.0 1.4 4.2 4.9 2.5 0.0 Maturity (years) 19.0 13.0 9.7 16.2 14.4 19.4 18.1 19.9 Grace period (years) 5.4 5.9 0.7 4.3 2.9 5.3 6.1 10.0 Private creditors Interest (%) 9.0 0.0 0.0 2.6 0.0 7.3 4.9 3.1 Maturity (years) 11.8 0.0 0.0 5.8 0.0 8.1 7.8 6.2 Grace period (years) 1.3 0.0 0.0 2.7 0.0 7.1 2.3 1.6 5. Major economic aggregates Gross national income (GNI) 5,336 4,293 4,289 7,708 7,902 10,044 12,364 9,549 Exports of goods, services & income 2,750 2,980 3,547 5,647 6,252 7,246 9,723 5,752 Worker remit. & comp. of employees 1 4 6 11 11 11 11 11 Imports of goods, services & income 2,448 2,423 2,483 3,395 4,223 5,375 6,871 5,183 Profit remittances on FDI 116 236 473 765 .. .. .. .. Current account balance 168 515 1,001 1,983 .. .. .. .. International reserves 279 153 194 675 1,122 1,238 1,935 2,007 6. Ratios External debt stocks to exports (%) 144.8 146.3 110.0 68.7 67.0 39.3 22.4 37.0 External debt stocks to GNI (%) 74.6 101.6 91.0 50.3 53.0 28.3 17.6 22.3 Debt service to exports (%) 6.4 15.3 9.9 3.4 2.7 36.8 8.9 8.1 Short-term to external debt stocks (%) 17.4 6.6 9.1 6.4 10.4 7.8 5.4 5.1 Multilateral to external debt stocks (%) 8.0 13.5 12.0 10.1 9.7 14.3 17.5 18.8 Reserves to external debt stocks (%) 7.0 3.5 5.0 17.4 26.8 43.5 89.0 94.2 Reserves to imports (months) 1.4 0.8 0.9 2.4 3.2 2.8 3.4 4.6 138 GABON 7. Long-term external debt Debt outstanding and disbursed 3,150 3,977 3,457 3,562 3,697 2,599 2,055 2,022 Public and publicly guaranteed 3,150 3,977 3,457 3,562 3,697 2,599 2,055 2,022 Official creditors 2,435 3,778 3,338 3,443 3,576 1,464 994 926 Multilateral 317 588 468 393 408 406 381 401 of which: IBRD 69 110 64 30 19 12 20 18 IDA 0 0 0 0 0 0 0 0 Bilateral 2,118 3,190 2,871 3,050 3,168 1,058 613 525 Private creditors 715 199 119 119 121 1,135 1,062 1,096 of which: Bonds 0 0 0 0 0 1,000 946 901 Commercial banks 181 148 103 39 29 60 79 168 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 18 87 1,089 108 265 Public and publicly guaranteed 195 222 34 18 87 1,089 108 265 Official creditors 158 222 13 18 61 41 62 147 Multilateral 84 150 11 15 57 37 17 74 of which: IBRD 10 4 9 0 0 0 12 4 IDA 0 0 0 0 0 0 0 0 Bilateral 74 72 2 3 4 4 45 73 Private creditors 37 0 21 0 26 1,048 45 118 of which: Bonds 0 0 0 0 0 1,000 0 0 Commercial banks 0 0 21 0 0 37 45 113 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 26 165 188 111 114 2,246 617 320 Public and publicly guaranteed 26 165 188 111 114 2,246 617 320 Official creditors 18 90 160 63 84 2,207 506 231 Multilateral 13 43 44 54 56 51 53 59 of which: IBRD 1 12 13 7 12 8 3 6 IDA 0 0 0 0 0 0 0 0 Bilateral 5 48 116 9 28 2,156 453 173 Private creditors 8 75 27 48 30 39 111 89 of which: Bonds 0 0 0 0 0 0 50 44 Commercial banks 3 26 27 28 10 6 22 29 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 52 36 377 224 144 Public and publicly guaranteed 78 217 124 52 36 377 224 144 Official creditors 68 174 118 46 32 372 139 53 Multilateral 21 26 42 21 21 21 19 20 of which: IBRD 5 8 5 1 2 1 1 1 IDA 0 0 0 0 0 0 0 0 Bilateral 47 148 75 24 11 350 120 33 Private creditors 11 44 7 7 4 5 85 91 of which: Bonds 0 0 0 0 0 0 80 75 Commercial banks 5 26 7 5 3 2 4 14 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 -183 310 -1,342 -672 -43 Net flows on external debt 164 14 -363 -58 -11 -1,066 -641 -60 9. Debt restructurings Total amount rescheduled 271 472 637 407 0 0 0 0 Total amount forgiven 0 41 0 0 0 89 9 0 Debt buyback 0 0 0 0 0 2,100 428 44 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 232 183 127 98 96 110 107 107 Interest 33 29 23 21 19 18 16 15 Private creditors Principal 498 66 97 82 64 64 52 932 Interest 91 90 89 87 84 80 78 75 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates based on reports provided by the country and include the effects of Paris Club debt buyback agreement signed in 2007. 139 GAMBIA, THE 1. Summary external debt data External debt stocks 369.1 426.1 483.3 669.5 728.1 726.6 448.6 520.1 Long-term external debt 308.4 385.5 437.9 626.2 692.4 698.6 421.0 449.2 Public and publicly guaranteed 308.4 385.5 437.9 626.2 692.4 698.6 421.0 449.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 44.9 25.8 18.1 20.8 17.8 6.3 12.3 28.6 Short-term external debt 15.7 14.8 27.3 22.4 17.9 21.6 15.3 42.3 interest arrears on long-term 0.6 0.7 0.0 1.4 0.9 0.6 1.3 1.3 Memorandum items 0.9 2.2 2.0 20.9 23.6 21.0 16.6 19.1 306.6 385.3 437.9 626.2 692.4 698.6 421.0 449.2 1.8 0.2 0.0 0.0 0.0 0.0 0.0 0.0 37.9 40.3 24.5 51.0 25.3 23.0 25.1 7.7 External debt flows Disbursements 32.8 23.0 29.7 62.6 59.9 58.6 59.8 58.8 Long-term external debt 23.5 23.0 20.7 62.6 59.9 52.5 53.5 43.1 IMF purchases 9.3 0.0 9.1 0.0 0.0 6.1 6.3 15.8 Principal repayments 25.5 21.7 14.3 17.9 21.6 24.4 12.6 17.8 Long-term external debt 20.2 15.5 12.7 15.8 17.5 20.8 12.6 17.8 IMF repurchases 5.3 6.2 1.6 2.0 4.0 3.7 0.0 0.0 Net flows 15.5 -7.6 20.6 41.7 34.3 38.2 40.3 68.0 Long-term external debt 3.4 7.5 8.0 46.7 42.4 31.7 40.9 25.3 Short-term external debt 8.1 -8.8 5.2 -3.0 -4.0 4.0 -7.0 27.0 Interest payments 12.3 6.3 7.3 10.5 9.9 11.8 9.0 7.8 Long-term external debt 10.2 5.2 6.0 9.5 9.0 10.6 8.0 7.4 IMF charges 1.3 0.2 0.1 0.1 0.1 0.1 0.1 0.1 Short-term external debt 0.8 0.9 1.2 0.9 0.9 1.0 0.9 0.4 2. Other non-debt resource inflows Foreign direct investment 14.1 7.8 .. 51.9 82.1 72.6 72.1 47.0 Portfolio equity 0.0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.7 3.5 4.0 6.5 7.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 8.5 6.3 4.8 2.7 2.3 2.2 0.0 0.0 Swiss franc 1.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 39.1 43.5 51.3 55.0 53.6 47.2 48.6 45.9 4. Average terms of new commitments Official creditors Interest (%) 0.8 3.5 1.7 4.1 0.2 0.0 2.0 0.8 Maturity (years) 42.0 21.3 27.4 29.9 29.5 28.9 22.8 26.8 Grace period (years) 10.0 6.2 6.8 7.3 8.7 9.9 4.5 7.3 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 4.7 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 12.4 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 2.4 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 291.4 377.1 400.4 417.8 459.7 596.7 776.0 690.3 Exports of goods, services & income 169.7 181.0 .. 183.7 205.1 256.8 283.7 .. Worker remit. & comp. of employees 10.0 19.0 14.0 57.4 63.7 62.5 66.8 64.8 Imports of goods, services & income 205.4 241.4 .. 295.3 358.1 396.7 411.0 .. Profit remittances on FDI 0.0 0.0 .. 26.0 32.8 33.9 35.7 .. Current account balance 23.4 -8.2 .. -42.0 -65.5 -29.2 -43.4 .. International reserves 55.4 106.1 109.4 98.3 120.6 142.8 116.5 .. 6. Ratios External debt stocks to exports (%) 217.5 235.4 .. 364.5 354.9 282.9 158.1 .. External debt stocks to GNI (%) 126.7 113.0 120.7 160.2 158.4 121.8 57.8 75.3 Debt service to exports (%) 22.2 15.5 .. 15.5 15.4 14.1 7.6 .. Short-term to external debt stocks (%) 4.3 3.5 5.7 3.4 2.5 3.0 3.4 8.1 Multilateral to external debt stocks (%) 55.0 76.6 71.1 76.1 78.3 78.8 64.1 60.3 Reserves to external debt stocks (%) 15.0 24.9 22.6 14.7 16.6 19.7 26.0 .. Reserves to imports (months) 3.2 5.3 .. 4.0 4.0 4.3 3.4 .. 140 GAMBIA, THE 7. Long-term external debt Debt outstanding and disbursed 308.4 385.5 437.9 626.2 692.4 698.6 421.0 449.2 Public and publicly guaranteed 308.4 385.5 437.9 626.2 692.4 698.6 421.0 449.2 Official creditors 290.1 385.2 436.9 625.5 691.5 697.6 420.1 448.3 Multilateral 203.1 326.2 343.7 509.5 570.1 572.2 287.5 313.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 101.6 161.6 170.7 244.9 263.5 218.9 61.9 64.3 Bilateral 87.0 59.0 93.2 116.0 121.5 125.4 132.6 134.6 Private creditors 18.3 0.2 1.0 0.8 0.9 1.0 0.9 1.0 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 0.8 0.9 1.0 0.9 1.0 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 23.5 23.0 20.7 62.6 59.9 52.5 53.5 43.1 Public and publicly guaranteed 23.5 23.0 20.7 62.6 59.9 52.5 53.5 43.1 Official creditors 23.5 23.0 20.7 62.6 59.9 52.5 53.5 43.1 Multilateral 17.7 19.0 17.1 53.7 50.0 40.9 46.5 31.3 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 18.9 11.7 1.1 2.4 2.4 Bilateral 5.8 4.0 3.6 8.9 9.9 11.6 7.0 11.8 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 20.2 15.5 12.7 15.8 17.5 20.8 12.6 17.8 Public and publicly guaranteed 20.2 15.5 12.7 15.8 17.5 20.8 12.6 17.8 Official creditors 12.7 15.1 12.3 15.8 17.5 20.8 12.6 17.8 Multilateral 4.7 6.7 7.9 10.1 11.0 14.7 8.3 9.0 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 3.3 4.3 5.0 0.1 0.3 Bilateral 7.9 8.5 4.4 5.7 6.6 6.0 4.3 8.8 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 9.5 9.0 10.6 8.0 7.4 Public and publicly guaranteed 10.2 5.2 6.0 9.5 9.0 10.6 8.0 7.4 Official creditors 5.5 5.2 5.9 9.5 9.0 10.6 8.0 7.4 Multilateral 2.9 3.5 3.6 5.3 5.7 6.8 5.1 4.0 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 2.0 2.0 0.5 0.5 Bilateral 2.6 1.7 2.3 4.2 3.3 3.8 3.0 3.4 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 -3.9 58.6 -1.5 -277.9 71.5 Net flows on external debt 15.5 -7.6 20.6 41.7 34.3 38.2 40.3 68.0 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 3.4 0.0 Total amount forgiven 0.0 0.0 0.0 0.7 0.2 14.4 224.4 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 24.1 26.7 25.6 25.2 26.2 26.0 23.8 23.8 Interest 7.2 7.0 6.7 6.4 5.9 5.4 5.0 4.6 Private creditors Principal 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 Interest 0.2 0.3 0.3 0.3 0.2 0.2 0.1 0.1 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Data for 2008 include the effects of MDRI and HIPC debt relief, in the amount of $214,362 in thousands. 141 GEORGIA 1. Summary external debt data External debt stocks .. 1,240 1,638 1,909 1,970 2,271 3,380 4,231 Long-term external debt .. 1,039 1,316 1,626 1,625 1,784 2,562 3,114 Public and publicly guaranteed .. 1,039 1,274 1,494 1,466 1,544 2,222 2,596 Private nonguaranteed .. 0 42 132 159 241 341 518 Use of IMF credit .. 116 278 232 236 252 460 786 Short-term external debt .. 85 44 50 108 235 357 330 interest arrears on long-term .. 61 1 11 7 7 7 7 Memorandum items .. 211 179 151 69 32 28 28 .. 1,039 1,264 1,493 1,466 1,544 2,222 2,596 .. 0 52 133 159 241 341 518 .. 91 72 84 104 55 812 781 External debt flows Disbursements .. 174 65 187 216 235 1,149 968 Long-term external debt .. 98 65 146 175 193 893 628 IMF purchases .. 76 0 41 41 43 256 341 Principal repayments .. 0 68 157 234 143 120 163 Long-term external debt .. 0 42 103 185 103 85 136 IMF repurchases .. 0 26 54 49 40 35 28 Net flows .. -272 33 -30 44 220 1,151 778 Long-term external debt .. 98 23 43 -10 89 808 492 Short-term external debt .. -446 36 -60 62 127 122 -27 Interest payments .. 20 49 30 34 38 70 100 Long-term external debt .. 17 43 27 31 31 58 83 IMF charges .. 3 5 1 1 1 2 7 Short-term external debt .. 0 1 2 2 6 11 10 2. Other non-debt resource inflows Foreign direct investment .. .. 131 453 1,170 1,750 1,564 764 Portfolio equity .. .. 0 3 143 34 118 8 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 20.2 15.5 17.4 12.0 10.7 Japanese yen .. 0.0 0.2 2.7 3.0 3.1 2.6 2.1 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.4 0.2 0.2 0.0 0.0 0.0 0.0 U.S.dollars .. 75.3 82.3 72.7 76.2 72.1 75.5 73.2 4. Average terms of new commitments Official creditors Interest (%) .. 1.5 1.1 0.8 1.4 0.8 1.3 1.1 Maturity (years) .. 32.3 32.0 40.3 34.8 26.9 25.4 30.9 Grace period (years) .. 9.6 8.9 10.7 8.8 10.2 8.7 7.8 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 7.5 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 5.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 5.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 2,574 3,175 6,474 7,910 10,210 12,631 10,571 Exports of goods, services & income .. .. 844 2,451 2,893 3,664 4,177 3,622 Worker remit. & comp. of employees .. .. 274 346 485 695 732 714 Imports of goods, services & income .. .. 1,248 3,519 4,592 6,362 8,154 5,837 Profit remittances on FDI .. .. 0 116 94 298 361 295 Current account balance .. .. -269 -709 -1,175 -2,010 -2,917 -1,257 International reserves .. 199 116 479 931 1,361 1,480 2,110 6. Ratios External debt stocks to exports (%) .. .. 194.1 77.9 68.1 62.0 80.9 116.8 External debt stocks to GNI (%) .. 48.2 51.6 29.5 24.9 22.2 26.8 40.0 Debt service to exports (%) .. .. 13.9 7.6 9.3 4.9 4.6 7.3 Short-term to external debt stocks (%) .. 6.9 2.7 2.6 5.5 10.4 10.6 7.8 Multilateral to external debt stocks (%) .. 19.7 29.2 42.9 45.9 44.7 35.2 36.3 Reserves to external debt stocks (%) .. 16.0 7.1 25.1 47.3 59.9 43.8 49.9 Reserves to imports (months) .. .. 1.1 1.6 2.4 2.6 2.2 4.3 142 GEORGIA 7. Long-term external debt Debt outstanding and disbursed .. 1,039 1,316 1,626 1,625 1,784 2,562 3,114 Public and publicly guaranteed .. 1,039 1,274 1,494 1,466 1,544 2,222 2,596 Official creditors .. 939 1,272 1,492 1,464 1,542 1,720 2,095 Multilateral .. 245 478 819 904 1,015 1,190 1,535 of which: IBRD .. 0 0 0 0 0 0 100 IDA .. 84 347 679 785 885 989 1,153 Bilateral .. 694 794 673 560 527 530 560 Private creditors .. 100 2 2 2 2 501 501 of which: Bonds .. 0 0 0 0 0 500 500 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 42 132 159 241 341 518 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 98 65 146 175 193 893 628 Public and publicly guaranteed .. 98 37 76 119 100 725 427 Official creditors .. 98 37 76 119 100 225 427 Multilateral .. 96 25 60 88 82 202 385 of which: IBRD .. 0 0 0 0 0 0 100 IDA .. 85 18 54 76 72 121 168 Bilateral .. 2 13 16 31 18 23 42 Private creditors .. 0 0 0 0 0 500 0 of which: Bonds .. 0 0 0 0 0 500 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 28 69 56 93 168 201 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 42 103 185 103 85 136 Public and publicly guaranteed .. 0 41 80 166 86 40 71 Official creditors .. 0 41 80 165 85 40 70 Multilateral .. 0 5 10 47 15 19 52 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 2 4 7 10 12 Bilateral .. 0 35 70 119 71 21 18 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 23 19 17 45 65 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 17 43 27 31 31 58 83 Public and publicly guaranteed .. 17 42 23 24 23 44 66 Official creditors .. 17 42 23 24 23 25 29 Multilateral .. 0 8 11 11 10 13 13 of which: IBRD .. 0 0 0 0 0 0 1 IDA .. 0 3 6 6 6 7 7 Bilateral .. 17 34 12 13 13 12 16 Private creditors .. 0 0 0 0 0 19 38 of which: Bonds .. 0 0 0 0 0 19 38 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 1 4 6 8 14 17 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. -210 -16 -156 61 302 1,108 851 Net flows on external debt .. -272 33 -30 44 220 1,151 778 9. Debt restructurings Total amount rescheduled .. 0 0 57 44 0 0 0 Total amount forgiven .. 0 0 0 109 2 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 53 58 58 70 50 64 68 81 Interest 24 25 26 26 25 25 24 24 Private creditors Principal 42 139 102 576 68 51 31 9 Interest 57 54 49 27 6 3 2 0 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. 143 GHANA 1. Summary external debt data External debt stocks 3,734 5,495 6,116 6,732 3,184 4,463 4,927 5,720 Long-term external debt 2,670 4,227 5,251 5,728 1,882 3,032 3,418 4,126 Public and publicly guaranteed 2,637 4,200 4,994 5,728 1,882 3,032 3,418 4,126 Private nonguaranteed 33 27 257 0 0 0 0 0 Use of IMF credit 745 648 293 417 159 167 162 271 Short-term external debt 320 620 572 587 1,143 1,264 1,347 1,323 interest arrears on long-term 56 26 10 9 19 9 9 41 Memorandum items 77 86 25 19 42 28 26 29 2,637 4,200 4,994 5,728 1,882 3,032 3,418 4,126 33 27 257 0 0 0 0 0 632 620 453 352 477 1,127 2,559 1,060 External debt flows Disbursements 473 570 397 519 505 1,155 525 871 Long-term external debt 408 528 362 480 389 1,155 525 767 IMF purchases 65 42 35 39 116 0 0 104 Principal repayments 260 292 254 186 150 96 87 104 Long-term external debt 143 184 217 155 150 96 87 104 IMF repurchases 116 108 37 32 0 0 0 0 Net flows 312 349 7 224 901 1,189 522 711 Long-term external debt 265 344 144 326 238 1,058 439 663 Short-term external debt 98 71 -136 -109 546 131 83 -56 Interest payments 104 95 134 95 83 79 143 129 Long-term external debt 55 57 95 72 54 46 110 97 IMF charges 37 10 1 2 0 1 1 1 Short-term external debt 12 28 38 21 29 32 32 31 2. Other non-debt resource inflows Foreign direct investment 15 107 166 145 636 970 2,112 1,685 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.2 11.5 11.2 12.2 14.8 Japanese yen 5.4 14.0 16.2 0.0 0.0 0.0 0.0 0.0 Pound sterling 3.0 5.2 2.1 0.0 0.1 0.0 0.0 0.0 Swiss franc 0.7 0.3 0.1 0.0 0.1 0.1 0.1 0.1 U.S.dollars 60.5 59.9 67.6 79.4 53.8 60.4 58.0 54.6 4. Average terms of new commitments Official creditors Interest (%) 2.1 1.5 1.4 0.8 0.7 0.8 2.1 1.0 Maturity (years) 35.4 34.8 34.7 43.0 41.8 38.6 27.1 32.3 Grace period (years) 9.4 9.4 8.9 10.3 10.3 10.0 7.2 8.8 Private creditors Interest (%) 8.1 6.4 6.2 0.8 2.8 8.5 2.7 2.7 Maturity (years) 8.2 6.6 10.2 40.2 11.8 10.1 13.6 14.0 Grace period (years) 2.1 1.3 2.7 10.7 2.2 10.0 2.9 2.4 5. Major economic aggregates Gross national income (GNI) 5,774 6,324 4,831 10,590 12,595 14,804 16,395 15,320 Exports of goods, services & income 949 1,596 2,456 3,952 5,183 6,088 7,156 7,911 Worker remit. & comp. of employees 6 17 32 99 105 117 126 114 Imports of goods, services & income 1,583 2,262 3,474 6,851 8,474 10,283 12,911 11,187 Profit remittances on FDI 7 17 17 94 92 135 172 241 Current account balance -223 -144 -387 -1,105 -1,043 -2,151 -3,543 -1,198 International reserves 309 804 309 1,897 2,269 .. .. .. 6. Ratios External debt stocks to exports (%) 393.6 344.4 249.0 170.3 61.4 73.3 68.9 72.3 External debt stocks to GNI (%) 64.7 86.9 126.6 63.6 25.3 30.2 30.1 37.3 Debt service to exports (%) 38.4 24.2 15.8 7.1 4.5 2.9 3.2 2.9 Short-term to external debt stocks (%) 8.6 11.3 9.4 8.7 35.9 28.3 27.3 23.1 Multilateral to external debt stocks (%) 49.4 54.3 59.9 74.9 38.9 34.8 37.9 39.0 Reserves to external debt stocks (%) 8.3 14.6 5.1 28.2 71.3 .. .. .. Reserves to imports (months) 2.3 4.3 1.1 3.3 3.2 .. .. .. 144 GHANA 7. Long-term external debt Debt outstanding and disbursed 2,670 4,227 5,251 5,728 1,882 3,032 3,418 4,126 Public and publicly guaranteed 2,637 4,200 4,994 5,728 1,882 3,032 3,418 4,126 Official creditors 2,424 3,847 4,703 5,313 1,445 1,767 2,103 2,570 Multilateral 1,846 2,982 3,663 5,042 1,239 1,552 1,866 2,230 of which: IBRD 113 59 9 0 0 0 0 0 IDA 1,310 2,375 3,130 4,234 815 1,087 1,330 1,581 Bilateral 578 865 1,039 271 206 215 238 339 Private creditors 213 352 292 415 438 1,265 1,315 1,556 of which: Bonds 0 0 0 0 0 750 750 750 Commercial banks 10 97 57 264 287 323 334 589 Private nonguaranteed 33 27 257 0 0 0 0 0 of which: Bonds 0 0 250 0 0 0 0 0 Disbursements 408 528 362 480 389 1,155 525 767 Public and publicly guaranteed 400 528 362 480 389 1,155 525 767 Official creditors 351 414 340 429 349 307 414 484 Multilateral 274 284 223 411 343 282 364 358 of which: IBRD 0 0 0 0 0 0 0 0 IDA 201 242 204 305 266 231 257 241 Bilateral 77 130 117 17 6 25 51 126 Private creditors 48 115 22 51 40 847 111 282 of which: Bonds 0 0 0 0 0 750 0 0 Commercial banks 9 64 14 47 29 46 56 277 Private nonguaranteed 8 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 143 184 217 155 150 96 87 104 Public and publicly guaranteed 135 179 214 155 150 96 87 104 Official creditors 64 108 141 117 115 50 46 46 Multilateral 29 73 68 42 43 29 22 19 of which: IBRD 10 15 8 2 0 0 0 0 IDA 2 8 25 15 8 1 1 2 Bilateral 35 34 74 75 73 21 25 27 Private creditors 71 72 73 38 35 46 40 58 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 17 2 27 18 21 29 33 35 Private nonguaranteed 8 5 3 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 55 57 95 72 54 46 110 97 Public and publicly guaranteed 53 55 80 72 54 46 110 97 Official creditors 42 50 64 54 39 25 26 38 Multilateral 30 40 39 42 29 17 18 19 of which: IBRD 9 6 1 0 0 0 0 0 IDA 8 17 22 31 18 8 9 10 Bilateral 12 10 26 13 9 8 8 20 Private creditors 11 5 16 17 16 21 84 59 of which: Bonds 0 0 0 0 0 0 64 32 Commercial banks 2 0 4 11 11 15 14 19 Private nonguaranteed 2 2 14 0 0 0 0 0 of which: Bonds 0 0 14 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 440 394 -304 -321 -3,548 1,279 464 792 Net flows on external debt 312 349 7 224 901 1,189 522 711 9. Debt restructurings Total amount rescheduled 0 0 0 0 7 0 0 0 Total amount forgiven 102 0 0 94 4,649 0 15 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 86 114 118 110 105 118 135 144 Interest 38 45 48 48 47 46 43 41 Private creditors Principal 97 126 188 169 159 145 141 885 Interest 95 99 98 95 91 88 85 82 Notes: Long-term private nonguaranteed debt data only cover Bonds. Ghana was granted debt relief effective in 2006 under MDRI. 145 GRENADA 1. Summary external debt data External debt stocks 110.8 127.0 201.4 406.2 492.1 524.8 523.5 531.5 Long-term external debt 97.9 112.4 179.8 391.4 447.6 468.0 450.6 462.3 Public and publicly guaranteed 97.9 112.4 179.8 391.4 447.6 468.0 450.6 462.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 8.4 9.5 7.7 13.0 23.0 Short-term external debt 12.9 14.6 21.6 6.5 35.0 49.1 59.9 46.1 interest arrears on long-term 6.9 6.6 4.5 4.5 6.0 12.1 10.9 21.1 Memorandum items 17.0 20.8 10.6 9.5 10.5 13.4 17.7 22.1 97.9 112.4 179.8 391.4 447.6 468.0 450.6 462.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.9 17.0 97.4 17.5 28.1 25.3 4.3 24.0 External debt flows Disbursements 14.8 4.9 77.6 38.5 27.8 23.6 24.1 31.2 Long-term external debt 14.8 4.9 77.6 38.5 25.5 23.6 15.5 19.3 IMF purchases 0.0 0.0 0.0 0.0 2.3 0.0 8.5 12.0 Principal repayments 1.7 5.6 10.1 5.5 7.4 8.4 13.3 9.9 Long-term external debt 1.3 5.6 10.1 5.5 5.8 6.2 10.4 7.7 IMF repurchases 0.5 0.0 0.0 0.0 1.6 2.2 2.9 2.3 Net flows 13.1 -1.7 63.4 -28.0 47.3 23.2 22.8 -2.7 Long-term external debt 13.5 -0.8 67.5 33.0 19.7 17.5 5.2 11.6 Short-term external debt 0.0 -1.0 -4.1 -61.0 27.0 8.0 12.0 -24.0 Interest payments 1.6 2.3 4.4 4.9 8.0 9.5 9.0 10.5 Long-term external debt 1.2 1.7 3.4 3.3 6.8 7.9 7.6 9.9 IMF charges 0.0 0.0 0.0 0.3 0.4 0.4 0.2 0.1 Short-term external debt 0.4 0.5 1.0 1.3 0.8 1.3 1.3 0.5 2. Other non-debt resource inflows Foreign direct investment 12.9 20.0 37.4 70.2 89.8 151.6 142.2 90.9 Portfolio equity 0.0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.4 0.3 0.3 0.4 0.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 34.5 33.7 6.3 0.2 0.0 0.0 0.7 0.7 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 57.3 59.7 78.7 91.3 92.2 92.2 90.7 89.9 4. Average terms of new commitments Official creditors Interest (%) 4.6 2.6 3.8 2.0 1.8 2.5 0.8 2.6 Maturity (years) 19.1 28.2 24.4 24.3 30.7 25.3 34.1 25.7 Grace period (years) 2.4 5.6 7.2 5.1 9.7 7.2 9.6 6.8 Private creditors Interest (%) 0.0 0.0 5.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 13.5 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 7.2 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 208.9 262.9 395.8 525.6 535.6 567.3 632.6 578.0 Exports of goods, services & income 95.6 128.7 240.8 160.3 175.6 205.3 201.3 186.9 Worker remit. & comp. of employees 18.0 37.8 46.4 51.6 53.9 54.8 55.4 53.7 Imports of goods, services & income 153.2 187.6 349.0 435.9 444.5 493.1 507.2 398.4 Profit remittances on FDI 8.4 12.6 27.8 22.7 22.0 35.7 33.2 29.9 Current account balance -46.2 -41.8 -88.1 -193.3 -232.9 -261.6 -268.7 -174.8 International reserves 17.6 36.7 57.7 94.3 100.0 110.6 105.3 129.1 6. Ratios External debt stocks to exports (%) 115.8 98.7 83.6 253.4 280.3 255.6 260.1 284.3 External debt stocks to GNI (%) 53.0 48.3 50.9 77.3 91.9 92.5 82.8 92.0 Debt service to exports (%) 3.4 6.1 6.0 6.5 8.8 8.7 11.1 10.9 Short-term to external debt stocks (%) 11.6 11.5 10.7 1.6 7.1 9.4 11.4 8.7 Multilateral to external debt stocks (%) 35.7 39.6 31.4 27.3 26.1 28.5 29.3 30.4 Reserves to external debt stocks (%) 15.9 28.9 28.6 23.2 20.3 21.1 20.1 24.3 Reserves to imports (months) 1.4 2.4 2.0 2.6 2.7 2.7 2.5 3.9 146 GRENADA 7. Long-term external debt Debt outstanding and disbursed 97.9 112.4 179.8 391.4 447.6 468.0 450.6 462.3 Public and publicly guaranteed 97.9 112.4 179.8 391.4 447.6 468.0 450.6 462.3 Official creditors 95.0 104.7 116.8 172.5 206.1 227.3 238.0 249.7 Multilateral 39.5 50.3 63.3 111.1 128.6 149.5 153.2 161.3 of which: IBRD 0.0 0.0 2.2 10.1 9.0 12.0 11.5 10.8 IDA 5.5 7.3 9.6 22.9 27.8 34.8 36.6 39.4 Bilateral 55.4 54.4 53.5 61.4 77.5 77.9 84.8 88.3 Private creditors 2.9 7.7 63.0 218.9 241.5 240.7 212.7 212.7 of which: Bonds 0.0 0.0 26.6 214.3 239.4 239.4 210.3 210.3 Commercial banks 0.7 0.3 32.2 2.4 1.5 1.1 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 38.5 25.5 23.6 15.5 19.3 Public and publicly guaranteed 14.8 4.9 77.6 38.5 25.5 23.6 15.5 19.3 Official creditors 14.3 4.9 19.8 38.5 25.5 23.6 15.5 19.3 Multilateral 2.9 3.4 11.7 22.7 20.5 23.6 12.8 13.7 of which: IBRD 0.0 0.0 1.9 2.8 0.1 4.3 0.9 0.7 IDA 1.0 0.0 0.8 3.6 4.0 6.0 2.5 2.9 Bilateral 11.4 1.5 8.1 15.8 5.0 0.0 2.7 5.5 Private creditors 0.5 0.0 57.8 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 26.6 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 30.0 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 1.3 5.6 10.1 5.5 5.8 6.2 10.4 7.7 Public and publicly guaranteed 1.3 5.6 10.1 5.5 5.8 6.2 10.4 7.7 Official creditors 1.1 3.9 6.3 5.1 5.8 6.2 10.4 7.7 Multilateral 1.0 2.8 3.2 3.6 4.4 4.4 8.7 5.9 of which: IBRD 0.0 0.0 0.0 0.6 1.1 1.2 1.4 1.5 IDA 0.0 0.1 0.1 0.2 0.3 0.3 0.4 0.3 Bilateral 0.1 1.1 3.2 1.5 1.4 1.8 1.7 1.7 Private creditors 0.2 1.8 3.7 0.4 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 0.2 2.4 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 Interest payments 1.2 1.7 3.4 3.3 6.8 7.9 7.6 9.9 Public and publicly guaranteed 1.2 1.7 3.4 3.3 6.8 7.9 7.6 9.9 Official creditors 1.0 1.6 2.3 3.3 4.5 5.5 5.5 4.8 Multilateral 1.0 1.3 1.1 2.6 3.8 3.9 4.2 3.6 of which: IBRD 0.0 0.0 0.0 0.4 0.5 0.5 0.6 0.5 IDA 0.0 0.1 0.1 0.2 0.2 0.2 0.3 0.3 Bilateral 0.0 0.2 1.3 0.7 0.7 1.6 1.3 1.2 Private creditors 0.2 0.2 1.1 0.0 2.3 2.3 2.1 5.1 of which: Bonds 0.0 0.0 0.0 0.0 2.3 2.3 2.1 5.1 Commercial banks 0.2 0.1 1.1 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 21.8 -2.0 65.6 -25.7 85.9 32.7 -1.3 8.0 Net flows on external debt 13.1 -1.7 63.4 -28.0 47.3 23.2 22.8 -2.7 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 208.7 13.2 1.5 1.4 0.0 Total amount forgiven 0.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 13.7 13.5 13.9 27.7 11.7 12.8 12.7 12.7 Interest 6.0 5.9 5.7 5.4 4.7 4.4 4.0 3.7 Private creditors Principal 0.0 0.0 5.6 0.0 0.0 0.0 0.0 0.0 Interest 11.9 11.9 21.1 21.0 28.1 28.1 37.4 37.4 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2006. 147 GUATEMALA 1. Summary external debt data External debt stocks 2,845 3,282 3,853 10,981 12,308 14,570 14,771 13,801 Long-term external debt 2,365 2,470 2,681 9,528 10,834 12,566 12,620 12,575 Public and publicly guaranteed 2,238 2,328 2,540 3,687 3,921 4,189 4,352 4,931 Private nonguaranteed 127 142 142 5,841 6,913 8,377 8,268 7,644 Use of IMF credit 67 0 0 0 0 0 0 0 Short-term external debt 414 811 1,172 1,453 1,474 2,004 2,151 1,226 interest arrears on long-term 207 219 317 414 0 0 0 0 Memorandum items 264 257 224 131 0 0 0 0 2,235 2,328 2,540 3,687 3,921 4,189 4,352 4,931 130 142 142 5,841 6,913 8,377 8,268 7,644 139 99 87 82 755 398 508 1,532 External debt flows Disbursements 166 200 210 2,184 2,240 2,738 1,037 934 Long-term external debt 166 200 210 2,184 2,240 2,738 1,037 934 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 123 213 188 705 831 1,034 1,009 1,019 Long-term external debt 111 213 188 705 831 1,034 1,009 1,019 IMF repurchases 12 0 0 0 0 0 0 0 Net flows 48 140 56 1,316 1,844 2,234 175 -1,010 Long-term external debt 56 -13 22 1,479 1,409 1,704 28 -85 Short-term external debt 4 153 34 -163 435 530 147 -925 Interest payments 114 145 202 550 634 739 747 668 Long-term external debt 91 113 152 497 575 668 672 625 IMF charges 7 0 0 0 0 0 0 0 Short-term external debt 16 32 50 53 59 70 75 43 2. Other non-debt resource inflows Foreign direct investment 48 75 230 509 592 745 754 566 Portfolio equity 0 .. .. 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.5 2.3 2.1 1.9 1.7 Japanese yen 0.0 2.5 2.9 3.5 3.3 3.1 3.7 3.5 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.5 0.2 0.0 0.0 0.0 0.0 0.0 U.S.dollars 51.6 54.8 75.0 85.7 86.9 88.0 88.6 90.1 4. Average terms of new commitments Official creditors Interest (%) 4.9 4.2 7.2 5.4 5.6 5.9 4.4 1.5 Maturity (years) 23.1 30.9 19.2 25.8 23.0 18.5 20.1 23.2 Grace period (years) 6.2 7.9 4.7 5.1 4.1 3.9 4.0 6.3 Private creditors Interest (%) 8.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 4.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 7,494 14,498 19,065 26,875 29,914 33,718 38,432 35,587 Exports of goods, services & income 1,588 2,870 4,077 7,069 8,036 9,270 10,264 9,181 Worker remit. & comp. of employees 119 358 596 3,067 3,700 4,236 4,460 4,026 Imports of goods, services & income 2,028 3,933 5,991 11,886 13,828 15,910 17,041 13,800 Profit remittances on FDI 37 95 248 370 608 819 886 785 Current account balance -213 -572 -1,050 -1,241 -1,524 -1,786 -1,773 -217 International reserves 362 783 1,806 3,777 4,055 4,315 4,654 5,205 6. Ratios External debt stocks to exports (%) 179.1 114.3 94.5 155.3 153.2 157.2 143.9 150.3 External debt stocks to GNI (%) 38.0 22.6 20.2 40.9 41.1 43.2 38.4 38.8 Debt service to exports (%) 14.9 12.5 9.6 17.8 18.2 19.1 17.1 18.4 Short-term to external debt stocks (%) 14.5 24.7 30.4 13.2 12.0 13.8 14.6 8.9 Multilateral to external debt stocks (%) 36.4 30.4 38.0 18.3 19.7 19.7 20.5 26.2 Reserves to external debt stocks (%) 12.7 23.9 46.9 34.4 32.9 29.6 31.5 37.7 Reserves to imports (months) 2.1 2.4 3.6 3.8 3.5 3.3 3.3 4.5 148 GUATEMALA 7. Long-term external debt Debt outstanding and disbursed 2,365 2,470 2,681 9,528 10,834 12,566 12,620 12,575 Public and publicly guaranteed 2,238 2,328 2,540 3,687 3,921 4,189 4,352 4,931 Official creditors 1,684 1,787 2,098 2,451 2,815 3,233 3,397 3,976 Multilateral 1,036 998 1,462 2,011 2,429 2,872 3,032 3,620 of which: IBRD 293 158 296 479 642 740 806 1,112 IDA 0 0 0 0 0 0 0 0 Bilateral 648 789 635 440 386 362 366 356 Private creditors 553 541 442 1,237 1,105 955 955 955 of which: Bonds 190 264 245 1,105 1,105 955 955 955 Commercial banks 118 61 0 0 0 0 0 0 Private nonguaranteed 127 142 142 5,841 6,913 8,377 8,268 7,644 of which: Bonds 0 0 0 50 50 50 55 5 Disbursements 166 200 210 2,184 2,240 2,738 1,037 934 Public and publicly guaranteed 159 200 210 144 581 599 396 807 Official creditors 126 128 210 144 581 599 396 807 Multilateral 68 87 157 131 572 594 386 783 of which: IBRD 16 13 51 34 199 136 133 379 IDA 0 0 0 0 0 0 0 0 Bilateral 58 41 53 13 9 6 10 24 Private creditors 33 73 0 0 0 0 0 0 of which: Bonds 0 59 0 0 0 0 0 0 Commercial banks 14 2 0 0 0 0 0 0 Private nonguaranteed 7 0 0 2,041 1,659 2,139 641 127 of which: Bonds 0 0 0 0 0 0 5 0 Principal repayments 111 213 188 705 831 1,034 1,009 1,019 Public and publicly guaranteed 108 194 168 199 244 359 259 268 Official creditors 59 151 136 199 234 209 259 268 Multilateral 28 92 78 145 163 163 224 233 of which: IBRD 5 40 13 33 36 38 67 72 IDA 0 0 0 0 0 0 0 0 Bilateral 31 59 58 54 71 46 35 35 Private creditors 49 43 32 1 11 150 0 0 of which: Bonds 11 15 31 0 0 150 0 0 Commercial banks 29 17 0 0 0 0 0 0 Private nonguaranteed 3 19 20 506 587 675 750 751 of which: Bonds 0 0 0 0 0 0 0 50 Interest payments 91 113 152 497 575 668 672 625 Public and publicly guaranteed 81 108 133 203 227 249 256 260 Official creditors 52 80 110 102 127 148 168 172 Multilateral 33 52 84 87 114 137 158 162 of which: IBRD 3 14 21 19 28 37 40 41 IDA 0 0 0 0 0 0 0 0 Bilateral 19 29 26 15 13 11 10 9 Private creditors 29 28 23 101 101 101 88 88 of which: Bonds 18 23 22 101 101 101 88 88 Commercial banks 7 3 0 0 0 0 0 0 Private nonguaranteed 10 5 19 294 348 420 416 365 of which: Bonds 0 0 0 5 5 5 5 0 8. Debt stock-flow reconciliation Total change in external debt stocks 243 175 72 1,265 1,326 2,262 202 -970 Net flows on external debt 48 140 56 1,316 1,844 2,234 175 -1,010 9. Debt restructurings Total amount rescheduled 30 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 538 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 313 283 271 278 309 311 310 315 Interest 122 116 109 102 95 87 79 71 Private creditors Principal 2,045 1,764 1,287 1,092 640 454 378 303 Interest 423 336 198 152 115 86 64 45 Notes: Data on long-term private nonguaranteed debt data are World Bank staff estimates. 149 GUINEA 1. Summary external debt data External debt stocks 2,478 3,248 3,066 2,898 3,046 3,143 3,094 2,926 Long-term external debt 2,253 2,991 2,655 2,727 2,822 2,939 2,831 2,827 Public and publicly guaranteed 2,253 2,991 2,655 2,727 2,822 2,939 2,831 2,827 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 51 94 113 87 72 65 71 59 Short-term external debt 173 164 299 84 152 139 192 40 interest arrears on long-term 56 85 82 84 90 95 36 36 Memorandum items 190 372 322 306 311 271 126 127 2,253 2,991 2,655 2,727 2,822 2,939 2,831 2,827 0 0 0 0 0 0 0 0 487 215 76 39 9 1 0 0 External debt flows Disbursements 196 200 75 91 73 89 94 49 Long-term external debt 196 169 75 91 73 78 67 49 IMF purchases 0 31 0 0 0 11 28 0 Principal repayments 110 128 100 116 106 106 103 96 Long-term external debt 95 120 92 91 86 85 84 83 IMF repurchases 14 9 8 26 19 21 20 13 Net flows 86 99 -37 -25 29 -36 103 -199 Long-term external debt 100 50 -17 1 -14 -7 -17 -35 Short-term external debt 0 27 -12 0 62 -18 112 -152 Interest payments 59 49 57 47 50 50 37 33 Long-term external debt 53 44 41 46 46 49 34 33 IMF charges 2 0 1 1 0 0 0 0 Short-term external debt 4 5 15 0 4 1 3 0 2. Other non-debt resource inflows Foreign direct investment 18 1 10 105 125 386 382 141 Portfolio equity .. .. 0 .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.8 11.0 12.1 11.7 12.5 Japanese yen 2.2 3.5 3.1 2.0 1.7 1.6 1.9 1.7 Pound sterling 1.8 0.8 0.4 0.2 0.2 0.1 0.0 0.0 Swiss franc 0.6 0.3 0.2 0.2 0.2 0.2 0.3 0.3 U.S.dollars 33.1 48.4 60.5 63.8 63.1 63.3 66.0 65.4 4. Average terms of new commitments Official creditors Interest (%) 2.6 2.0 1.3 0.5 0.8 0.8 0.0 0.0 Maturity (years) 30.5 25.9 38.1 34.4 23.4 49.9 0.0 0.0 Grace period (years) 8.2 8.5 9.1 8.4 9.2 10.4 0.0 0.0 Private creditors Interest (%) 0.0 2.7 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 3.5 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,518 3,609 3,035 2,661 2,564 3,885 3,492 6,058 Exports of goods, services & income 841 713 758 .. .. 1,313 1,459 .. Worker remit. & comp. of employees 18 1 1 78 114 151 72 71 Imports of goods, services & income 1,115 1,109 973 .. .. 1,610 1,911 .. Profit remittances on FDI 61 23 8 .. .. 54 14 .. Current account balance -203 -216 -140 .. .. -382 -434 .. International reserves .. 87 168 97 .. .. .. .. 6. Ratios External debt stocks to exports (%) 294.6 455.5 404.7 .. .. 239.4 212.0 .. External debt stocks to GNI (%) 98.4 90.0 101.0 108.9 118.8 80.9 88.6 48.3 Debt service to exports (%) 20.0 24.9 20.7 .. .. 11.9 9.6 .. Short-term to external debt stocks (%) 7.0 5.0 9.7 2.9 5.0 4.4 6.2 1.4 Multilateral to external debt stocks (%) 27.4 45.0 52.7 60.3 59.1 59.4 59.7 62.4 Reserves to external debt stocks (%) .. 2.7 5.5 3.4 .. .. .. .. Reserves to imports (months) .. 0.9 2.1 .. .. .. .. .. 150 GUINEA 7. Long-term external debt Debt outstanding and disbursed 2,253 2,991 2,655 2,727 2,822 2,939 2,831 2,827 Public and publicly guaranteed 2,253 2,991 2,655 2,727 2,822 2,939 2,831 2,827 Official creditors 2,145 2,908 2,626 2,693 2,785 2,895 2,801 2,792 Multilateral 678 1,460 1,615 1,747 1,800 1,866 1,848 1,827 of which: IBRD 28 0 0 0 0 0 0 0 IDA 392 847 982 1,205 1,259 1,305 1,288 1,269 Bilateral 1,467 1,448 1,011 947 985 1,029 953 966 Private creditors 108 82 29 33 37 44 30 35 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 24 25 0 5 8 15 18 23 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 91 73 78 67 49 Public and publicly guaranteed 196 169 75 91 73 78 67 49 Official creditors 196 169 75 89 70 72 63 45 Multilateral 90 161 70 41 33 41 45 16 of which: IBRD 0 0 0 0 0 0 0 0 IDA 52 59 29 32 22 21 22 0 Bilateral 106 8 5 48 37 32 18 29 Private creditors 0 0 0 2 3 6 4 4 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 2 3 6 4 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 91 86 85 84 83 Public and publicly guaranteed 95 120 92 91 86 85 84 83 Official creditors 77 105 92 91 86 85 84 83 Multilateral 21 35 51 49 46 46 58 58 of which: IBRD 12 0 0 0 0 0 0 0 IDA 1 2 11 9 10 12 25 27 Bilateral 55 70 40 42 40 39 25 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 46 46 49 34 33 Public and publicly guaranteed 53 44 41 46 46 49 34 33 Official creditors 47 43 41 44 43 44 28 25 Multilateral 12 15 24 20 18 18 18 14 of which: IBRD 2 0 0 0 0 0 0 0 IDA 2 6 7 9 8 9 10 7 Bilateral 35 28 17 24 25 26 10 11 Private creditors 6 1 0 2 3 5 6 8 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 0 0 2 3 5 6 8 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 -238 148 97 -49 -167 Net flows on external debt 86 99 -37 -25 29 -36 103 -199 9. Debt restructurings Total amount rescheduled 110 130 0 0 0 41 86 17 Total amount forgiven 2 61 0 13 14 23 177 25 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 116 118 118 118 122 134 125 117 Interest 40 42 39 37 35 32 29 27 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 2 2 2 2 2 2 2 2 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreement signed in 2008. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $14,757 in thousands and $5,738 in thousands respectively. 151 GUINEA-BISSAU 1. Summary external debt data External debt stocks 695 895 947 1,013 1,036 1,073 1,084 1,111 Long-term external debt 633 794 822 881 902 925 931 950 Public and publicly guaranteed 633 794 822 881 902 925 931 950 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 5 6 25 12 8 5 9 10 Short-term external debt 56 95 100 121 126 142 144 151 interest arrears on long-term 30 89 87 119 126 142 144 151 Memorandum items 113 251 219 256 252 245 270 318 633 794 822 881 902 925 931 950 0 0 0 0 0 0 0 0 98 22 27 9 0 0 0 0 External debt flows Disbursements 36 23 22 14 9 15 12 6 Long-term external debt 36 21 14 14 9 15 6 4 IMF purchases 0 2 9 0 0 0 6 3 Principal repayments 2 9 3 4 7 7 6 6 Long-term external debt 2 8 3 1 3 4 4 5 IMF repurchases 0 1 0 3 4 3 2 2 Net flows 46 13 29 9 0 9 5 0 Long-term external debt 34 13 11 13 6 12 2 -1 Short-term external debt 12 -1 10 -1 -2 0 0 0 Interest payments 6 6 2 2 3 3 3 4 Long-term external debt 3 6 2 2 3 3 3 4 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 3 0 0 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 2 0 1 9 18 19 5 14 Portfolio equity 0 .. .. 0 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 10.4 11.1 12.1 11.4 11.6 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 8.5 6.6 11.0 12.6 5.1 5.4 5.6 5.7 U.S.dollars 27.6 38.3 34.0 46.7 52.3 50.0 50.6 50.9 4. Average terms of new commitments Official creditors Interest (%) 2.2 0.8 0.9 0.8 0.0 0.0 0.0 0.0 Maturity (years) 28.1 39.8 37.9 45.5 0.0 0.0 0.0 0.0 Grace period (years) 10.4 10.3 10.1 10.3 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 233 236 203 290 308 371 446 439 Exports of goods, services & income 26 30 .. .. .. 141 172 .. Worker remit. & comp. of employees 1 2 8 28 28 29 30 30 Imports of goods, services & income 110 110 .. .. .. 246 299 .. Profit remittances on FDI 0 .. .. 0 0 0 0 .. Current account balance -45 -35 .. .. .. .. .. .. International reserves 18 20 67 80 82 113 125 169 6. Ratios External debt stocks to exports (%) 2,661.0 3,024.9 .. .. .. 761.6 629.7 .. External debt stocks to GNI (%) 297.7 379.4 466.5 349.5 336.7 289.4 243.1 253.2 Debt service to exports (%) 32.3 52.4 .. .. .. 7.3 5.5 .. Short-term to external debt stocks (%) 8.1 10.6 10.6 11.9 12.2 13.3 13.3 13.6 Multilateral to external debt stocks (%) 39.4 41.3 41.9 45.1 46.4 47.6 46.9 45.6 Reserves to external debt stocks (%) 2.6 2.3 7.0 7.9 7.9 10.5 11.5 15.2 Reserves to imports (months) 2.0 2.2 .. .. .. 5.5 5.0 .. 152 GUINEA-BISSAU 7. Long-term external debt Debt outstanding and disbursed 633 794 822 881 902 925 931 950 Public and publicly guaranteed 633 794 822 881 902 925 931 950 Official creditors 600 763 822 881 902 925 931 950 Multilateral 273 370 397 457 481 511 508 507 of which: IBRD 0 0 0 0 0 0 0 0 IDA 145 210 228 284 297 315 309 304 Bilateral 326 393 425 424 421 414 423 443 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 14 9 15 6 4 Public and publicly guaranteed 36 21 14 14 9 15 6 4 Official creditors 36 21 14 14 9 15 6 4 Multilateral 30 19 14 14 9 15 6 4 of which: IBRD 0 0 0 0 0 0 0 0 IDA 15 9 14 11 5 11 4 1 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 1 3 4 4 5 Public and publicly guaranteed 2 8 3 1 3 4 4 5 Official creditors 2 8 2 1 3 4 4 5 Multilateral 1 8 2 1 3 4 4 5 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 1 2 0 0 0 1 1 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 3 3 3 4 Public and publicly guaranteed 3 6 2 2 3 3 3 4 Official creditors 3 6 2 2 3 3 3 4 Multilateral 3 4 2 2 3 3 3 4 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 2 2 1 2 2 2 2 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 -92 23 37 11 27 Net flows on external debt 46 13 29 9 0 9 5 0 9. Debt restructurings Total amount rescheduled 16 14 0 0 0 0 0 0 Total amount forgiven 5 15 1 9 6 6 10 7 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 31 29 28 21 21 22 23 23 Interest 8 7 7 6 6 6 6 6 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Data for 2007, 2008, and 2009 include the effects of Enhanced HIPC Initiative, in the amount of $5,787 in thousands, $7,311 in thousands, and $7,383 in thousands respectively. 153 GUYANA 1. Summary external debt data External debt stocks 1,960 2,116 1,364 1,216 1,141 736 829 1,036 Long-term external debt 1,773 1,794 1,128 1,043 923 584 676 781 Public and publicly guaranteed 1,773 1,794 1,124 1,041 923 584 676 781 Private nonguaranteed 0 0 4 2 0 0 0 0 Use of IMF credit 113 172 117 91 56 59 57 58 Short-term external debt 75 150 119 82 162 93 96 197 interest arrears on long-term 63 133 67 82 86 93 96 98 Memorandum items 184 114 65 66 76 75 75 78 1,773 1,794 1,124 1,041 923 584 676 781 0 0 4 2 0 0 0 0 282 45 85 166 4 144 123 74 External debt flows Disbursements 264 59 73 131 136 101 139 105 Long-term external debt 159 45 64 104 109 101 139 105 IMF purchases 104 14 9 27 27 0 0 0 Principal repayments 175 74 39 24 15 16 16 8 Long-term external debt 69 50 23 16 15 16 16 8 IMF repurchases 107 24 17 8 0 0 0 0 Net flows 256 -8 21 76 197 9 123 196 Long-term external debt 91 -5 41 88 94 85 123 97 Short-term external debt 167 7 -13 -31 76 -76 0 99 Interest payments 120 35 30 11 16 12 11 11 Long-term external debt 73 31 26 10 14 9 10 10 IMF charges 40 3 1 0 0 0 0 0 Short-term external debt 7 1 3 1 2 2 0 1 2. Other non-debt resource inflows Foreign direct investment 8 74 67 77 102 152 168 144 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.1 2.7 4.6 3.5 2.9 Japanese yen 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 10.4 9.1 5.6 0.2 0.2 0.1 0.1 0.1 Swiss franc 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 68.0 64.9 69.3 74.3 70.7 86.5 88.9 90.2 4. Average terms of new commitments Official creditors Interest (%) 1.3 1.5 2.0 1.3 1.9 1.0 1.6 1.6 Maturity (years) 39.7 38.7 40.0 30.5 29.8 36.6 28.4 29.1 Grace period (years) 9.9 10.4 10.5 9.2 7.6 9.0 4.1 4.7 Private creditors Interest (%) 0.0 8.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 31.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 275 567 661 804 818 1,039 1,145 .. Exports of goods, services & income .. 641 684 697 730 889 1,035 .. Worker remit. & comp. of employees .. 2 27 201 218 283 278 266 Imports of goods, services & income .. 838 813 960 1,127 1,288 1,556 .. Profit remittances on FDI .. .. 6 7 9 7 0 .. Current account balance .. -135 -82 -96 -181 -112 -192 .. International reserves 29 269 305 252 280 313 356 631 6. Ratios External debt stocks to exports (%) .. 329.9 199.5 174.5 156.3 82.7 80.1 .. External debt stocks to GNI (%) 712.5 373.1 206.6 151.2 139.5 70.8 72.4 .. Debt service to exports (%) .. 17.0 10.1 4.9 4.3 3.1 2.6 .. Short-term to external debt stocks (%) 3.8 7.1 8.7 6.7 14.2 12.7 11.6 19.0 Multilateral to external debt stocks (%) 23.9 30.2 43.9 70.0 63.1 49.9 46.0 43.2 Reserves to external debt stocks (%) 1.5 12.7 22.3 20.7 24.5 42.6 42.9 60.9 Reserves to imports (months) .. 3.9 4.5 3.1 3.0 2.9 2.7 .. 154 GUYANA 7. Long-term external debt Debt outstanding and disbursed 1,773 1,794 1,128 1,043 923 584 676 781 Public and publicly guaranteed 1,773 1,794 1,124 1,041 923 584 676 781 Official creditors 1,601 1,709 1,079 1,033 915 575 655 760 Multilateral 468 639 599 851 720 367 381 448 of which: IBRD 59 35 8 0 0 0 0 0 IDA 93 203 180 226 9 10 10 10 Bilateral 1,134 1,070 480 182 194 209 274 312 Private creditors 172 86 45 9 8 8 21 21 of which: Bonds 0 29 27 0 0 0 0 0 Commercial banks 104 37 6 4 4 4 3 4 Private nonguaranteed 0 0 4 2 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 159 45 64 104 109 101 139 105 Public and publicly guaranteed 159 45 64 104 109 101 139 105 Official creditors 153 45 64 104 109 101 139 105 Multilateral 122 41 64 71 77 67 56 69 of which: IBRD 0 0 0 0 0 0 0 0 IDA 54 18 6 2 0 1 0 0 Bilateral 31 4 0 33 32 33 83 36 Private creditors 6 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 69 50 23 16 15 16 16 8 Public and publicly guaranteed 69 50 22 15 15 16 16 8 Official creditors 46 40 22 15 15 16 16 8 Multilateral 42 24 18 11 13 9 9 6 of which: IBRD 31 6 3 0 0 0 0 0 IDA 0 1 1 1 1 0 0 0 Bilateral 4 16 4 4 2 7 7 2 Private creditors 22 10 0 0 0 0 0 0 of which: Bonds 1 0 0 0 0 0 0 0 Commercial banks 8 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 Interest payments 73 31 26 10 14 9 10 10 Public and publicly guaranteed 73 31 26 10 14 9 10 10 Official creditors 64 30 26 10 14 9 10 10 Multilateral 58 18 10 10 12 6 8 8 of which: IBRD 31 3 1 0 0 0 0 0 IDA 0 1 1 2 1 0 0 0 Bilateral 6 12 16 0 3 3 3 3 Private creditors 9 1 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 1 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 303 67 -48 -147 -75 -406 93 207 Net flows on external debt 256 -8 21 76 197 9 123 196 9. Debt restructurings Total amount rescheduled 474 1 0 79 0 0 0 0 Total amount forgiven 32 0 14 175 298 429 13 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 24 24 26 29 32 36 36 38 Interest 12 13 13 13 12 12 11 10 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Guyana was granted debt relief effective in 2006 under MDRI. 155 HAITI 1. Summary external debt data External debt stocks 917 821 1,173 1,327 1,505 1,580 1,946 1,244 Long-term external debt 778 766 1,043 1,278 1,346 1,525 1,842 1,078 Public and publicly guaranteed 778 766 1,043 1,278 1,346 1,525 1,842 1,078 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 38 29 39 21 32 56 105 166 Short-term external debt 101 27 90 28 126 0 0 0 interest arrears on long-term 24 1 1 15 18 0 0 0 Memorandum items 43 2 2 22 27 0 0 0 778 766 1,043 1,278 1,346 1,525 1,842 1,078 0 0 0 0 0 0 0 0 102 254 0 240 0 116 185 114 External debt flows Disbursements 44 128 51 93 98 151 406 272 Long-term external debt 38 103 51 77 83 97 356 212 IMF purchases 5 25 0 15 15 54 50 61 Principal repayments 21 66 24 38 38 56 34 30 Long-term external debt 8 34 18 34 34 23 34 26 IMF repurchases 12 32 6 5 4 33 0 3 Net flows 39 75 21 21 155 -14 372 243 Long-term external debt 30 70 33 44 50 74 322 185 Short-term external debt 16 13 -6 -34 95 -108 0 0 Interest payments 15 32 20 19 21 26 24 15 Long-term external debt 6 25 15 17 17 22 23 15 IMF charges 3 5 1 0 1 1 0 1 Short-term external debt 7 2 5 1 3 3 0 0 2. Other non-debt resource inflows Foreign direct investment 8 7 13 26 161 75 30 38 Portfolio equity 0 .. 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.4 3.6 5.7 5.0 4.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 71.0 77.5 82.1 80.4 81.3 80.9 84.0 86.4 4. Average terms of new commitments Official creditors Interest (%) 1.4 1.2 0.0 1.0 0.0 1.8 1.0 1.0 Maturity (years) 38.9 39.9 0.0 39.4 0.0 34.0 25.0 24.9 Grace period (years) 10.4 10.4 0.0 10.3 0.0 8.2 3.0 3.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. .. .. .. .. Exports of goods, services & income 325 192 504 605 708 801 861 964 Worker remit. & comp. of employees .. .. 578 986 1,063 1,222 1,370 1,376 Imports of goods, services & income 540 832 1,378 1,888 2,154 2,404 2,876 2,831 Profit remittances on FDI 0 4 0 0 0 0 0 0 Current account balance -22 -87 -114 7 -85 -86 -289 -232 International reserves 10 199 183 134 254 453 543 790 6. Ratios External debt stocks to exports (%) 282.2 426.8 232.8 219.3 212.6 197.3 226.1 129.0 External debt stocks to GNI (%) .. .. .. .. .. .. .. .. Debt service to exports (%) 11.1 51.0 8.8 9.4 8.4 10.3 6.7 4.6 Short-term to external debt stocks (%) 11.0 3.2 7.7 2.1 8.4 .. .. .. Multilateral to external debt stocks (%) 54.0 74.9 77.3 81.1 76.0 79.0 68.3 41.8 Reserves to external debt stocks (%) 1.1 24.2 15.6 10.1 16.9 28.7 27.9 63.5 Reserves to imports (months) 0.2 2.9 1.6 0.9 1.4 2.3 2.3 3.3 156 HAITI 7. Long-term external debt Debt outstanding and disbursed 778 766 1,043 1,278 1,346 1,525 1,842 1,078 Public and publicly guaranteed 778 766 1,043 1,278 1,346 1,525 1,842 1,078 Official creditors 732 766 1,043 1,278 1,346 1,525 1,842 1,078 Multilateral 495 615 907 1,076 1,144 1,248 1,329 520 of which: IBRD 0 0 0 0 0 0 0 0 IDA 324 389 480 505 511 518 507 39 Bilateral 236 150 136 202 202 276 513 558 Private creditors 47 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 47 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 38 103 51 77 83 97 356 212 Public and publicly guaranteed 38 103 51 77 83 97 356 212 Official creditors 38 103 51 77 83 97 356 212 Multilateral 27 103 51 77 83 97 121 98 of which: IBRD 0 0 0 0 0 0 0 0 IDA 14 49 8 9 9 0 0 0 Bilateral 11 1 0 0 0 0 235 114 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 8 34 18 34 34 23 34 26 Public and publicly guaranteed 8 34 18 34 34 23 34 26 Official creditors 8 34 18 34 34 23 34 26 Multilateral 5 30 14 29 31 18 29 22 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 10 7 14 13 7 16 11 Bilateral 3 3 4 5 3 5 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 17 17 22 23 15 Public and publicly guaranteed 6 25 15 17 17 22 23 15 Official creditors 6 25 15 17 17 22 23 15 Multilateral 5 24 9 15 16 17 19 12 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 10 4 5 4 4 4 2 Bilateral 1 1 5 2 2 5 4 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 81 86 -16 16 178 75 366 -703 Net flows on external debt 39 75 21 21 155 -14 372 243 9. Debt restructurings Total amount rescheduled 0 108 0 0 0 93 12 99 Total amount forgiven 0 11 0 0 1 32 18 936 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 15 23 29 32 35 38 46 47 Interest 13 19 19 18 18 18 17 16 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2006 and in 2009. Data for 2007, 2008, and 2009 include the effects of MDRI and HIPC debt relief, in the amount of $8,148 in thousands, $814 in thousands, and $451,744 in thousands respectively. 157 HONDURAS 1. Summary external debt data External debt stocks 3,718 4,851 5,402 5,226 4,207 3,311 3,508 3,675 Long-term external debt 3,487 4,370 4,813 4,645 3,666 2,617 2,960 3,326 Public and publicly guaranteed 3,420 4,247 4,253 4,137 3,031 1,994 2,303 2,446 Private nonguaranteed 66 123 560 509 635 624 657 880 Use of IMF credit 32 99 216 168 31 32 31 32 Short-term external debt 199 382 374 412 510 662 517 317 interest arrears on long-term 89 63 35 12 9 9 3 10 Memorandum items 190 197 72 48 47 44 32 30 3,313 4,223 4,233 4,137 3,031 1,994 2,303 2,446 173 147 580 509 635 624 657 880 452 358 174 369 198 269 539 257 External debt flows Disbursements 457 379 368 496 357 385 649 704 Long-term external debt 429 349 347 481 342 385 649 704 IMF purchases 29 31 21 15 15 0 0 0 Principal repayments 211 352 261 280 203 234 277 341 Long-term external debt 176 308 256 264 203 234 277 341 IMF repurchases 35 44 5 15 0 0 0 0 Net flows 129 90 44 246 255 304 233 156 Long-term external debt 252 40 90 217 140 152 372 363 Short-term external debt -117 62 -63 30 101 152 -139 -207 Interest payments 178 226 131 105 131 114 91 73 Long-term external debt 157 203 107 83 102 81 76 68 IMF charges 6 5 4 1 0 0 0 0 Short-term external debt 15 18 20 21 29 33 14 5 2. Other non-debt resource inflows Foreign direct investment 44 50 382 600 669 929 877 500 Portfolio equity 0 0 0 0 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.7 4.9 8.8 9.4 10.0 Japanese yen 8.4 9.2 7.9 0.5 0.0 0.0 0.0 0.0 Pound sterling 0.9 0.6 0.4 0.0 0.0 0.0 0.0 0.0 Swiss franc 2.1 1.4 0.9 0.1 0.2 0.2 0.2 0.1 U.S.dollars 45.2 48.9 65.7 72.5 65.8 68.1 69.1 69.2 4. Average terms of new commitments Official creditors Interest (%) 6.1 2.3 1.5 1.3 1.7 1.8 2.8 3.4 Maturity (years) 22.7 29.5 39.7 26.3 29.1 27.0 24.4 26.7 Grace period (years) 6.5 7.2 10.2 9.3 8.6 8.5 5.4 5.5 Private creditors Interest (%) 9.9 8.4 3.8 1.7 0.0 0.0 0.0 0.8 Maturity (years) 7.1 28.6 7.2 50.0 0.0 0.0 0.0 18.2 Grace period (years) 0.6 1.1 3.0 10.5 0.0 0.0 0.0 18.2 5. Major economic aggregates Gross national income (GNI) 2,797 3,649 6,951 9,300 10,376 12,013 13,695 14,182 Exports of goods, services & income 1,053 1,667 4,001 5,893 6,220 6,695 7,128 6,102 Worker remit. & comp. of employees 63 124 484 1,821 2,391 2,625 2,869 2,553 Imports of goods, services & income 1,384 2,111 5,047 8,092 9,074 10,621 12,126 9,202 Profit remittances on FDI 72 40 160 479 621 535 460 472 Current account balance -51 -201 -508 -304 -381 -1,275 -1,977 .. International reserves 47 270 1,319 2,338 2,642 2,546 2,492 .. 6. Ratios External debt stocks to exports (%) 353.0 291.0 135.0 88.7 67.6 49.5 49.2 60.2 External debt stocks to GNI (%) 132.9 132.9 77.7 56.2 40.5 27.6 25.6 25.9 Debt service to exports (%) 36.9 34.7 9.8 6.5 5.4 5.2 5.2 6.8 Short-term to external debt stocks (%) 5.4 7.9 6.9 7.9 12.1 20.0 14.7 8.6 Multilateral to external debt stocks (%) 42.5 44.4 50.5 60.9 54.3 38.4 40.8 41.3 Reserves to external debt stocks (%) 1.3 5.6 24.4 44.7 62.8 76.9 71.0 .. Reserves to imports (months) 0.4 1.5 3.1 3.5 3.5 2.9 2.5 .. 158 HONDURAS 7. Long-term external debt Debt outstanding and disbursed 3,487 4,370 4,813 4,645 3,666 2,617 2,960 3,326 Public and publicly guaranteed 3,420 4,247 4,253 4,137 3,031 1,994 2,303 2,446 Official creditors 2,978 3,882 4,150 4,082 2,979 1,955 2,266 2,359 Multilateral 1,581 2,153 2,728 3,183 2,282 1,273 1,431 1,517 of which: IBRD 558 443 151 0 0 0 0 0 IDA 77 386 838 1,353 349 401 449 502 Bilateral 1,396 1,729 1,423 899 696 682 835 843 Private creditors 442 364 102 55 53 39 37 87 of which: Bonds 0 139 0 0 0 0 0 50 Commercial banks 204 82 46 44 43 28 26 26 Private nonguaranteed 66 123 560 509 635 624 657 880 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 429 349 347 481 342 385 649 704 Public and publicly guaranteed 421 287 163 302 210 230 431 247 Official creditors 364 258 159 297 210 229 430 197 Multilateral 190 209 120 253 186 152 196 113 of which: IBRD 82 7 0 0 0 0 0 0 IDA 0 77 38 151 58 46 51 49 Bilateral 174 49 38 44 24 77 234 84 Private creditors 57 29 4 4 0 1 1 50 of which: Bonds 0 0 0 0 0 0 0 50 Commercial banks 22 3 1 4 0 0 0 0 Private nonguaranteed 8 62 184 179 133 155 218 457 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 176 308 256 264 203 234 277 341 Public and publicly guaranteed 151 270 90 138 90 104 54 107 Official creditors 143 243 89 138 87 102 53 106 Multilateral 137 158 86 122 49 38 33 34 of which: IBRD 94 58 27 70 0 0 0 0 IDA 2 2 2 8 3 0 0 0 Bilateral 6 84 3 15 38 65 19 72 Private creditors 8 27 1 1 3 2 1 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 39 166 126 112 130 223 234 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 157 203 107 83 102 81 76 68 Public and publicly guaranteed 155 199 75 63 65 53 49 41 Official creditors 150 179 75 63 64 52 49 41 Multilateral 141 103 66 50 46 35 35 31 of which: IBRD 96 38 15 3 0 0 0 0 IDA 1 3 6 10 6 3 3 3 Bilateral 8 75 9 13 19 18 14 10 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 20 37 28 27 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 -839 -1,019 -896 197 167 Net flows on external debt 129 90 44 246 255 304 233 156 9. Debt restructurings Total amount rescheduled 308 25 413 58 10 31 0 0 Total amount forgiven 61 10 19 779 1,511 1,193 62 8 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 95 85 89 105 101 109 107 119 Interest 63 65 66 65 65 64 62 59 Private creditors Principal 238 168 151 90 71 53 44 35 Interest 40 29 20 15 11 7 5 3 Notes: Data for 2007 include the effects of MDRI, in the amount of $8,697 in thousands. 159 INDIA 1. Summary external debt data External debt stocks 85,661 95,174 100,243 120,224 158,493 202,793 224,713 237,692 Long-term external debt 74,346 87,709 96,781 111,408 133,396 166,700 180,891 194,741 Public and publicly guaranteed 72,858 81,091 81,195 54,729 60,035 69,719 74,967 76,531 Private nonguaranteed 1,488 6,618 15,586 56,680 73,361 96,980 105,925 118,211 Use of IMF credit 2,771 2,416 0 0 0 0 0 0 Short-term external debt 8,544 5,049 3,462 8,816 25,097 36,093 43,821 42,950 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 72,317 80,631 80,709 54,600 59,926 69,624 74,809 76,361 2,029 7,078 16,072 56,808 73,470 97,076 106,082 118,380 8,606 4,914 10,707 2,491 4,557 11,530 3,722 0 External debt flows Disbursements 8,255 7,147 10,556 19,380 32,426 64,455 37,566 22,778 Long-term external debt 6,533 7,147 10,556 19,380 32,426 64,455 37,566 22,778 IMF purchases 1,723 0 0 0 0 0 0 0 Principal repayments 3,345 8,676 6,728 19,384 12,412 32,097 23,667 10,728 Long-term external debt 2,633 6,949 6,702 19,384 12,412 32,097 23,667 10,728 IMF repurchases 713 1,727 25 0 0 0 0 0 Net flows 5,953 -745 3,358 1,949 36,295 43,355 21,628 11,179 Long-term external debt 3,900 197 3,854 -3 20,014 32,359 13,899 12,050 Short-term external debt 1,043 785 -471 1,952 16,281 10,996 7,728 -871 Interest payments 4,796 4,931 4,193 4,509 4,947 7,268 7,269 5,422 Long-term external debt 3,766 4,363 4,007 4,196 4,523 5,486 5,706 4,867 IMF charges 131 183 1 0 0 0 0 0 Short-term external debt 899 385 185 314 424 1,782 1,563 555 2. Other non-debt resource inflows Foreign direct investment 237 2,144 3,584 7,606 20,336 25,127 41,169 34,577 Portfolio equity 0 1,590 2,481 12,151 9,509 34,986 -15,030 21,111 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.4 7.0 6.4 5.5 5.3 Japanese yen 9.9 15.1 12.6 20.0 20.3 19.1 22.9 21.6 Pound sterling 6.1 4.7 3.8 3.7 3.1 2.5 2.1 1.9 Swiss franc 0.7 0.9 0.3 0.3 0.3 0.2 0.2 0.1 U.S.dollars 59.6 52.0 66.3 65.6 66.1 67.3 64.4 65.2 4. Average terms of new commitments Official creditors Interest (%) 3.9 3.5 5.5 2.9 2.9 3.4 1.8 1.1 Maturity (years) 28.7 26.7 24.0 25.2 28.2 24.2 26.5 27.8 Grace period (years) 8.4 8.3 6.6 7.2 5.1 6.2 5.4 6.5 Private creditors Interest (%) 6.8 5.7 4.3 4.6 5.8 6.4 4.5 3.6 Maturity (years) 15.0 5.9 5.1 3.5 3.1 10.1 7.8 3.4 Grace period (years) 7.3 4.8 4.8 3.5 1.4 3.9 2.3 2.5 5. Major economic aggregates Gross national income (GNI) 313,262 352,268 455,206 831,296 942,594 1,227,861 1,209,613 1,304,800 Exports of goods, services & income 23,347 39,499 62,453 160,348 201,697 248,928 306,451 274,404 Worker remit. & comp. of employees 2,384 6,223 12,883 22,125 28,334 37,217 49,941 49,256 Imports of goods, services & income 33,220 53,444 80,489 194,274 239,713 297,356 390,745 323,960 Profit remittances on FDI 0 0 .. 5,244 7,738 10,526 10,141 .. Current account balance -7,036 -5,563 -4,601 -10,284 -9,299 -11,284 -36,088 .. International reserves 5,637 22,865 41,059 137,825 178,050 276,578 257,423 284,683 6. Ratios External debt stocks to exports (%) 366.9 241.0 160.5 75.0 78.6 81.5 73.3 86.6 External debt stocks to GNI (%) 27.3 27.0 22.0 14.5 16.8 16.5 18.6 18.2 Debt service to exports (%) 34.9 34.4 17.5 14.9 8.6 15.8 10.1 5.9 Short-term to external debt stocks (%) 10.0 5.3 3.5 7.3 15.8 17.8 19.5 18.1 Multilateral to external debt stocks (%) 25.8 31.6 30.4 26.2 21.7 18.3 17.5 17.5 Reserves to external debt stocks (%) 6.6 24.0 41.0 114.6 112.3 136.4 114.6 119.8 Reserves to imports (months) 2.0 5.1 6.1 8.5 8.9 11.2 7.9 10.5 160 INDIA 7. Long-term external debt Debt outstanding and disbursed 74,346 87,709 96,781 111,408 133,396 166,700 180,891 194,741 Public and publicly guaranteed 72,858 81,091 81,195 54,729 60,035 69,719 74,967 76,531 Official creditors 49,800 57,595 51,633 49,994 52,859 57,142 62,208 64,266 Multilateral 22,096 30,052 30,474 31,451 34,411 37,200 39,327 41,486 of which: IBRD 7,685 9,849 7,078 5,276 6,007 6,680 7,429 8,048 IDA 13,622 17,499 18,888 22,728 24,433 25,319 25,365 25,980 Bilateral 27,704 27,543 21,159 18,543 18,448 19,942 22,881 22,780 Private creditors 23,058 23,496 29,562 4,734 7,176 12,577 12,759 12,265 of which: Bonds 2,785 3,324 10,240 1,360 2,213 4,664 4,520 5,542 Commercial banks 16,246 13,465 18,166 3,214 4,825 7,790 8,115 6,625 Private nonguaranteed 1,488 6,618 15,586 56,680 73,361 96,980 105,925 118,211 of which: Bonds 0 1,020 1,515 5,761 10,254 15,327 14,732 15,331 Disbursements 6,533 7,147 10,556 19,380 32,426 64,455 37,566 22,778 Public and publicly guaranteed 6,319 5,968 10,256 6,630 8,360 15,970 17,678 6,528 Official creditors 3,532 2,842 3,260 3,824 3,706 4,631 5,661 4,789 Multilateral 2,197 1,942 2,371 2,811 2,725 3,164 3,620 3,512 of which: IBRD 1,219 589 706 863 979 1,003 1,122 1,126 IDA 749 729 1,054 1,290 1,005 802 961 1,252 Bilateral 1,335 900 888 1,013 981 1,467 2,041 1,277 Private creditors 2,786 3,125 6,996 2,805 4,655 11,338 12,017 1,739 of which: Bonds 416 85 5,520 1,714 2,452 7,389 11,507 1,615 Commercial banks 1,982 1,719 878 1,091 2,203 3,949 510 124 Private nonguaranteed 214 1,179 300 12,751 24,066 48,486 19,888 16,250 of which: Bonds 0 520 0 2,920 4,549 7,793 594 2,473 Principal repayments 2,633 6,949 6,702 19,384 12,412 32,097 23,667 10,728 Public and publicly guaranteed 2,314 6,793 6,454 12,469 4,796 8,842 13,429 5,074 Official creditors 1,227 3,885 3,493 2,689 2,588 2,380 2,979 2,903 Multilateral 609 1,513 1,740 951 1,155 1,200 1,347 1,474 of which: IBRD 472 943 994 210 259 346 390 455 IDA 114 226 367 607 653 700 764 797 Bilateral 618 2,372 1,754 1,738 1,433 1,180 1,632 1,429 Private creditors 1,088 2,908 2,960 9,781 2,208 6,462 10,450 2,170 of which: Bonds 279 320 0 8,457 1,597 5,313 9,468 588 Commercial banks 248 1,807 2,737 1,201 589 1,130 963 1,559 Private nonguaranteed 318 156 249 6,914 7,617 23,255 10,238 5,654 of which: Bonds 0 0 35 117 57 409 880 1,679 Interest payments 3,766 4,363 4,007 4,196 4,523 5,486 5,706 4,867 Public and publicly guaranteed 3,631 3,832 3,378 3,022 1,290 1,447 1,512 1,247 Official creditors 1,489 1,872 1,430 1,059 1,073 1,168 1,156 987 Multilateral 737 1,061 835 458 647 780 743 540 of which: IBRD 615 770 428 159 280 356 313 201 IDA 96 131 139 187 185 189 201 185 Bilateral 752 811 596 601 426 388 413 447 Private creditors 2,142 1,960 1,947 1,963 217 279 356 259 of which: Bonds 180 187 143 1,799 40 41 61 60 Commercial banks 1,748 1,265 1,742 155 172 234 291 196 Private nonguaranteed 135 531 630 1,174 3,233 4,038 4,194 3,620 of which: Bonds 0 56 224 141 217 330 278 290 8. Debt stock-flow reconciliation Total change in external debt stocks 9,720 -4,435 1,115 -2,362 38,268 44,300 21,920 12,979 Net flows on external debt 5,953 -745 3,358 1,949 36,295 43,355 21,628 11,179 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 4,678 4,730 4,898 5,153 5,264 5,163 5,003 4,919 Interest 1,032 1,012 959 886 806 723 645 569 Private creditors Principal 35,786 22,861 24,769 11,742 9,421 7,067 6,274 4,922 Interest 5,402 4,067 3,029 2,094 1,610 1,196 879 606 Notes: External debt data prior to 2003 are mechanically adjusted from fiscal year to calendar year. Public and publicly guaranteed bonds include Foreign Institutional Investor debt (FII) as reported by the Reserve Bank of India. Short-term debt is based on reports provided by the country and data for 2006 are revised. 161 INDONESIA 1. Summary external debt data External debt stocks 69,872 124,413 143,358 134,353 125,348 133,917 146,247 157,517 Long-term external debt 58,242 98,446 110,832 117,512 115,363 118,469 127,194 138,854 Public and publicly guaranteed 47,982 65,323 69,663 74,248 70,541 72,085 79,812 86,020 Private nonguaranteed 10,261 33,123 41,169 43,264 44,822 46,384 47,383 52,834 Use of IMF credit 494 0 10,838 7,807 0 0 0 0 Short-term external debt 11,135 25,966 21,688 9,034 9,984 15,448 19,052 18,662 interest arrears on long-term 0 0 4,632 0 0 0 0 0 Memorandum items 1 0 3,000 148 0 0 0 0 47,982 65,323 69,663 74,248 70,541 72,085 79,812 86,020 10,261 33,123 41,169 43,264 44,822 46,384 47,383 52,834 6,854 11,003 2,221 4,541 4,727 5,948 9,723 14,791 External debt flows Disbursements 10,024 13,633 6,773 13,879 18,472 18,339 22,928 31,424 Long-term external debt 10,024 13,633 5,651 13,879 18,472 18,339 22,928 31,424 IMF purchases 0 0 1,123 0 0 0 0 0 Principal repayments 5,969 10,200 9,269 16,891 24,464 18,819 16,712 20,428 Long-term external debt 5,812 10,200 9,269 15,746 16,427 18,819 16,712 20,428 IMF repurchases 157 0 0 1,145 8,037 0 0 0 Net flows 7,216 9,943 -1,969 -8,602 -5,042 4,984 9,821 10,606 Long-term external debt 4,213 3,434 -3,618 -1,868 2,045 -480 6,217 10,996 Short-term external debt 3,160 6,509 527 -5,590 950 5,464 3,604 -390 Interest payments 3,978 6,221 7,356 3,337 3,817 5,113 4,656 4,424 Long-term external debt 3,413 4,937 5,674 2,933 3,416 4,996 4,461 4,301 IMF charges 59 0 526 313 292 0 0 0 Short-term external debt 506 1,284 1,157 91 109 117 195 123 2. Other non-debt resource inflows Foreign direct investment 1,093 4,346 -4,550 8,336 4,914 6,928 9,318 4,877 Portfolio equity 0 1,493 -1,021 -165 1,898 3,559 322 787 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.3 14.4 14.7 11.7 10.1 Japanese yen 34.6 35.3 33.1 33.8 34.0 33.5 36.6 32.4 Pound sterling 1.4 0.8 1.2 2.2 2.0 1.8 1.1 1.0 Swiss franc 0.4 0.7 0.6 0.6 0.6 0.5 0.4 0.4 U.S.dollars 20.9 21.5 50.3 45.4 44.3 44.6 45.6 51.7 4. Average terms of new commitments Official creditors Interest (%) 5.5 5.1 2.9 3.9 3.9 2.8 2.1 1.6 Maturity (years) 23.5 21.4 24.5 23.5 25.7 24.7 20.4 22.2 Grace period (years) 6.5 5.8 6.8 6.1 6.7 7.4 6.9 5.5 Private creditors Interest (%) 7.3 6.8 6.6 6.9 7.2 6.4 6.9 9.6 Maturity (years) 17.1 12.4 7.7 14.7 20.9 27.4 18.0 8.0 Grace period (years) 3.9 3.8 4.4 12.9 18.3 26.6 17.4 7.7 5. Major economic aggregates Gross national income (GNI) 109,209 196,188 150,317 271,958 349,038 414,441 492,372 521,391 Exports of goods, services & income 29,704 54,229 73,079 102,260 117,635 133,971 158,444 135,180 Worker remit. & comp. of employees 166 651 1,190 5,420 5,722 6,174 6,794 6,793 Imports of goods, services & income 33,110 61,641 66,903 106,775 111,639 128,582 163,682 129,295 Profit remittances on FDI 2,192 718 3,574 9,525 9,637 10,813 10,675 8,848 Current account balance -2,988 -6,431 7,992 278 10,859 10,493 126 10,746 International reserves 8,657 14,908 29,353 34,731 42,597 56,936 51,641 66,119 6. Ratios External debt stocks to exports (%) 235.2 229.4 196.2 131.4 106.6 100.0 92.3 116.5 External debt stocks to GNI (%) 64.0 63.4 95.4 49.4 35.9 32.3 29.7 30.2 Debt service to exports (%) 33.5 30.3 22.7 19.8 24.0 17.9 13.5 18.4 Short-term to external debt stocks (%) 15.9 20.9 15.1 6.7 8.0 11.5 13.0 11.8 Multilateral to external debt stocks (%) 20.4 16.1 13.9 13.8 14.6 13.9 13.6 13.4 Reserves to external debt stocks (%) 12.4 12.0 20.5 25.9 34.0 42.5 35.3 42.0 Reserves to imports (months) 3.1 2.9 5.3 3.9 4.6 5.3 3.8 6.1 162 INDONESIA 7. Long-term external debt Debt outstanding and disbursed 58,242 98,446 110,832 117,512 115,363 118,469 127,194 138,854 Public and publicly guaranteed 47,982 65,323 69,663 74,248 70,541 72,085 79,812 86,020 Official creditors 33,041 51,296 54,897 59,951 58,427 58,790 63,245 63,324 Multilateral 14,285 20,013 19,904 18,514 18,246 18,611 19,962 21,052 of which: IBRD 9,542 12,503 11,715 8,132 7,423 6,821 6,968 7,876 IDA 842 756 714 1,001 1,318 1,550 2,006 2,234 Bilateral 18,756 31,284 34,992 41,437 40,181 40,179 43,283 42,272 Private creditors 14,941 14,027 14,766 14,297 12,114 13,296 16,567 22,696 of which: Bonds 696 704 971 4,029 5,157 6,370 10,450 14,344 Commercial banks 8,614 7,178 10,489 8,062 5,090 5,168 4,640 5,810 Private nonguaranteed 10,261 33,123 41,169 43,264 44,822 46,384 47,383 52,834 of which: Bonds 120 3,420 6,337 5,878 6,222 4,668 4,678 5,897 Disbursements 10,024 13,633 5,651 13,879 18,472 18,339 22,928 31,424 Public and publicly guaranteed 5,009 6,670 3,301 5,012 7,121 6,098 9,062 12,729 Official creditors 4,000 4,254 3,038 2,578 3,798 3,825 4,599 6,142 Multilateral 1,794 1,777 1,750 1,667 1,876 2,134 2,842 3,020 of which: IBRD 987 1,045 1,051 585 696 767 1,398 2,044 IDA 0 0 59 67 315 219 494 244 Bilateral 2,206 2,477 1,287 911 1,922 1,691 1,758 3,122 Private creditors 1,009 2,416 263 2,434 3,323 2,273 4,462 6,587 of which: Bonds 0 605 0 2,095 1,930 1,425 4,080 3,893 Commercial banks 494 1,010 258 264 947 552 378 1,656 Private nonguaranteed 5,015 6,963 2,350 8,866 11,351 12,240 13,867 18,695 of which: Bonds 120 1,763 350 194 144 486 368 1,808 Principal repayments 5,812 10,200 9,269 15,746 16,427 18,819 16,712 20,428 Public and publicly guaranteed 4,588 5,717 3,869 6,231 6,926 8,070 6,491 7,060 Official creditors 1,586 3,128 1,587 3,539 5,366 6,789 5,738 6,131 Multilateral 677 1,289 1,116 1,957 1,976 1,971 1,920 1,910 of which: IBRD 551 955 761 1,390 1,403 1,369 1,252 1,135 IDA 11 20 26 27 27 27 27 31 Bilateral 909 1,840 471 1,583 3,390 4,818 3,817 4,221 Private creditors 3,001 2,589 2,282 2,692 1,560 1,281 753 929 of which: Bonds 94 0 0 310 252 212 0 0 Commercial banks 1,718 1,681 2,107 1,679 982 679 594 767 Private nonguaranteed 1,224 4,483 5,400 9,515 9,501 10,749 10,221 13,368 of which: Bonds 0 120 2,400 267 257 432 261 588 Interest payments 3,413 4,937 5,674 2,933 3,416 4,996 4,461 4,301 Public and publicly guaranteed 2,808 3,775 3,738 1,921 2,118 2,730 2,718 2,802 Official creditors 1,585 2,668 2,576 1,189 1,712 2,042 1,968 1,693 Multilateral 990 1,403 1,383 865 832 861 789 584 of which: IBRD 731 921 950 481 425 435 370 249 IDA 6 6 5 9 10 11 13 15 Bilateral 596 1,265 1,193 324 880 1,181 1,179 1,109 Private creditors 1,222 1,107 1,163 732 406 689 751 1,109 of which: Bonds 62 6 72 136 97 331 439 837 Commercial banks 699 676 871 510 195 251 220 187 Private nonguaranteed 605 1,161 1,935 1,012 1,298 2,266 1,743 1,499 of which: Bonds 0 139 735 113 184 202 89 31 8. Debt stock-flow reconciliation Total change in external debt stocks 10,470 16,577 -8,121 -2,772 -9,005 8,570 12,329 11,270 Net flows on external debt 7,216 9,943 -1,969 -8,602 -5,042 4,984 9,821 10,606 9. Debt restructurings Total amount rescheduled 0 0 2,461 2,608 0 0 0 0 Total amount forgiven 0 0 0 0 92 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6,466 5,824 5,756 6,063 5,703 5,290 4,753 4,200 Interest 1,481 1,363 1,233 1,101 960 826 702 598 Private creditors Principal 9,214 11,420 7,991 5,806 9,063 3,020 3,568 2,538 Interest 3,633 3,264 2,832 2,845 2,513 1,873 1,625 1,398 Notes: Debt data are significantly revised as previous publications included local currency external debt. Data on long-term private nonguaranteed debt data might include short-term debt data until 2005 and are revised based on reports provided by the country from 2006. 163 IRAN, ISLAMIC REPUBLIC OF 1. Summary external debt data External debt stocks 9,020 21,565 7,717 21,879 19,386 21,072 13,967 13,435 Long-term external debt 1,797 15,116 4,709 10,521 11,127 11,172 8,932 7,524 Public and publicly guaranteed 1,797 15,116 4,709 10,521 11,127 11,172 8,932 7,524 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 7,224 6,449 3,008 11,358 8,259 9,900 5,035 5,911 interest arrears on long-term 456 6 0 0 0 0 0 0 Memorandum items 1,517 48 0 0 0 0 0 0 1,797 15,031 4,689 10,511 11,120 11,166 8,929 7,524 0 84 20 10 7 6 3 0 1,241 1,978 2,813 1,992 797 0 35 10 External debt flows Disbursements 139 979 1,469 2,750 1,724 1,106 978 504 Long-term external debt 139 979 1,469 2,750 1,724 1,106 978 504 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 225 4,120 2,345 1,733 1,718 2,006 2,162 2,093 Long-term external debt 225 4,120 2,345 1,733 1,718 2,006 2,162 2,093 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 2,480 -227 -1,485 1,439 -3,093 740 -6,049 -713 Long-term external debt -86 -3,141 -876 1,017 6 -901 -1,184 -1,589 Short-term external debt 2,566 2,914 -609 422 -3,099 1,641 -4,865 876 Interest payments 430 1,602 572 1,099 1,033 946 616 485 Long-term external debt 28 1,107 391 419 509 572 502 278 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 402 494 180 680 524 374 114 207 2. Other non-debt resource inflows Foreign direct investment -362 17 39 3,136 1,647 1,670 1,615 3,016 Portfolio equity 0 0 0 .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 52.3 55.9 58.5 57.1 57.0 Japanese yen 4.2 4.9 9.4 8.1 6.8 6.9 7.3 7.5 Pound sterling 0.0 0.0 0.6 0.1 0.1 0.0 0.0 0.0 Swiss franc 0.0 0.6 3.9 4.4 3.6 3.4 2.7 2.4 U.S.dollars 88.6 71.5 68.3 34.9 33.4 31.0 32.8 32.9 4. Average terms of new commitments Official creditors Interest (%) 7.3 7.5 4.9 4.4 5.9 0.0 0.0 7.8 Maturity (years) 13.5 8.2 13.5 15.0 11.8 0.0 0.0 9.9 Grace period (years) 5.0 2.3 4.4 4.4 3.8 0.0 0.0 5.4 Private creditors Interest (%) 8.6 6.3 6.6 4.9 6.0 0.0 5.6 0.0 Maturity (years) 8.3 11.3 10.3 10.1 10.0 0.0 6.7 0.0 Grace period (years) 3.7 3.4 2.9 2.6 2.5 0.0 2.2 0.0 5. Major economic aggregates Gross national income (GNI) 115,922 90,172 101,335 188,503 219,296 283,000 335,654 328,593 Exports of goods, services & income 20,197 19,269 30,131 .. .. .. .. .. Worker remit. & comp. of employees .. 1,600 536 1,032 1,032 1,115 1,115 1,072 Imports of goods, services & income 22,370 15,907 18,107 .. .. .. .. .. Profit remittances on FDI 0 0 0 .. .. .. .. .. Current account balance 327 3,358 12,481 .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 44.7 111.9 25.6 .. .. .. .. .. External debt stocks to GNI (%) 7.8 23.9 7.6 11.6 8.8 7.4 4.2 4.1 Debt service to exports (%) 3.2 29.7 9.7 .. .. .. .. .. Short-term to external debt stocks (%) 80.1 29.9 39.0 51.9 42.6 47.0 36.1 44.0 Multilateral to external debt stocks (%) 1.3 1.8 6.6 1.7 2.9 3.3 5.4 6.2 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 164 IRAN, ISLAMIC REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 1,797 15,116 4,709 10,521 11,127 11,172 8,932 7,524 Public and publicly guaranteed 1,797 15,116 4,709 10,521 11,127 11,172 8,932 7,524 Official creditors 225 11,354 1,664 2,045 2,284 2,436 2,389 2,254 Multilateral 116 381 507 381 559 699 761 836 of which: IBRD 86 316 481 378 559 699 761 836 IDA 0 0 0 0 0 0 0 0 Bilateral 110 10,974 1,157 1,663 1,725 1,737 1,628 1,418 Private creditors 1,571 3,761 3,045 8,476 8,843 8,736 6,542 5,269 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1,055 5 1,043 4,041 4,535 4,798 3,818 3,157 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 2,750 1,724 1,106 978 504 Public and publicly guaranteed 139 979 1,469 2,750 1,724 1,106 978 504 Official creditors 30 393 477 672 508 303 295 209 Multilateral 30 123 120 258 248 212 144 159 of which: IBRD 0 85 114 247 248 212 144 159 IDA 0 0 0 0 0 0 0 0 Bilateral 0 270 357 414 261 91 152 50 Private creditors 109 586 993 2,078 1,216 803 682 295 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 268 1,399 941 651 605 270 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 2,345 1,733 1,718 2,006 2,162 2,093 Public and publicly guaranteed 225 4,120 2,345 1,733 1,718 2,006 2,162 2,093 Official creditors 86 3,497 1,785 328 275 301 331 381 Multilateral 67 41 108 155 75 73 66 84 of which: IBRD 67 6 70 145 66 73 66 84 IDA 0 0 0 0 0 0 0 0 Bilateral 18 3,456 1,677 173 199 228 264 297 Private creditors 139 622 561 1,405 1,443 1,705 1,831 1,712 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 67 713 690 930 1,051 1,006 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 28 1,107 391 419 509 572 502 278 Public and publicly guaranteed 28 1,107 391 419 509 572 502 278 Official creditors 14 787 190 103 98 114 89 73 Multilateral 10 27 44 39 25 36 25 15 of which: IBRD 10 19 40 39 25 36 25 15 IDA 0 0 0 0 0 0 0 0 Bilateral 4 759 146 63 73 78 64 58 Private creditors 14 321 202 316 410 458 413 205 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 82 155 220 264 237 122 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 2,502 -677 -1,629 940 -2,493 1,686 -7,105 -532 Net flows on external debt 2,480 -227 -1,485 1,439 -3,093 740 -6,049 -713 9. Debt restructurings Total amount rescheduled 0 3,178 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 514 441 429 282 246 182 165 122 Interest 52 41 30 22 17 12 8 6 Private creditors Principal 1,765 1,284 1,054 740 502 315 179 74 Interest 82 59 39 24 13 6 2 1 Notes: Fiscal year-end for external debt data is March. 165 JAMAICA 1. Summary external debt data External debt stocks 4,761 4,581 4,724 6,531 8,059 10,422 10,331 10,959 Long-term external debt 4,058 3,849 3,871 5,914 6,956 8,883 9,068 9,905 Public and publicly guaranteed 4,024 3,721 3,768 5,524 6,144 6,710 6,904 6,664 Private nonguaranteed 34 128 103 390 811 2,173 2,164 3,241 Use of IMF credit 357 240 60 0 0 0 0 0 Short-term external debt 346 492 793 617 1,103 1,539 1,263 1,054 interest arrears on long-term 124 102 150 225 261 284 267 239 Memorandum items 157 203 131 146 219 157 146 176 4,024 3,721 3,767 5,523 6,143 6,709 6,902 6,663 34 128 104 391 813 2,174 2,165 3,242 360 234 1,066 1,123 886 809 720 774 External debt flows Disbursements 348 316 904 1,346 1,216 2,396 692 1,502 Long-term external debt 292 305 904 1,346 1,216 2,396 692 1,502 IMF purchases 56 11 0 0 0 0 0 0 Principal repayments 401 436 443 551 312 590 459 702 Long-term external debt 290 340 424 550 312 590 459 702 IMF repurchases 111 95 19 1 0 0 0 0 Net flows -99 -106 440 317 1,354 2,219 -26 619 Long-term external debt 2 -35 481 797 904 1,806 233 800 Short-term external debt -45 14 -21 -479 450 413 -259 -181 Interest payments 260 232 261 419 512 717 702 748 Long-term external debt 202 191 208 387 473 657 675 736 IMF charges 34 17 4 0 0 0 0 0 Short-term external debt 24 24 49 32 39 60 27 12 2. Other non-debt resource inflows Foreign direct investment 138 147 468 682 882 866 1,437 541 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 17.9 20.4 22.2 20.3 17.3 Japanese yen 4.7 9.9 7.1 3.4 2.8 2.4 2.7 2.6 Pound sterling 5.7 4.1 2.0 1.5 1.4 1.2 0.5 0.6 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.0 47.6 61.7 70.1 70.0 69.8 72.6 76.2 4. Average terms of new commitments Official creditors Interest (%) 7.5 5.6 6.1 4.1 1.4 3.2 4.3 3.8 Maturity (years) 19.8 21.6 19.8 22.0 18.5 19.8 23.8 16.5 Grace period (years) 4.7 4.7 5.4 5.7 16.9 5.1 5.4 4.2 Private creditors Interest (%) 8.7 6.3 11.0 8.2 7.9 7.7 7.5 4.8 Maturity (years) 1.9 8.9 6.0 12.8 20.6 27.2 10.8 8.0 Grace period (years) 0.4 2.1 4.2 10.6 15.3 23.0 8.2 1.0 5. Major economic aggregates Gross national income (GNI) 4,158 5,569 8,662 10,476 11,375 11,995 13,955 14,095 Exports of goods, services & income 2,325 3,541 3,782 4,322 5,161 5,590 5,782 4,273 Worker remit. & comp. of employees 229 653 892 1,784 1,946 2,144 2,180 1,924 Imports of goods, services & income 2,928 4,246 4,970 6,972 8,092 9,673 10,970 7,259 Profit remittances on FDI 189 230 290 454 376 533 376 232 Current account balance -312 -99 -367 -1,072 -1,183 -2,043 -3,038 .. International reserves 168 681 1,054 2,170 2,318 1,879 1,773 2,080 6. Ratios External debt stocks to exports (%) 204.8 129.4 124.9 151.1 156.2 186.4 178.7 256.5 External debt stocks to GNI (%) 114.5 82.3 54.5 62.3 70.8 86.9 74.0 77.8 Debt service to exports (%) 28.5 18.8 18.6 22.4 16.0 23.4 20.1 33.9 Short-term to external debt stocks (%) 7.3 10.7 16.8 9.4 13.7 14.8 12.2 9.6 Multilateral to external debt stocks (%) 24.7 26.9 25.8 20.4 16.1 12.1 12.9 13.9 Reserves to external debt stocks (%) 3.5 14.9 22.3 33.2 28.8 18.0 17.2 19.0 Reserves to imports (months) 0.7 1.9 2.5 3.7 3.4 2.3 1.9 3.4 166 JAMAICA 7. Long-term external debt Debt outstanding and disbursed 4,058 3,849 3,871 5,914 6,956 8,883 9,068 9,905 Public and publicly guaranteed 4,024 3,721 3,768 5,524 6,144 6,710 6,904 6,664 Official creditors 3,463 3,363 2,449 2,124 2,157 2,258 2,271 2,407 Multilateral 1,174 1,234 1,218 1,333 1,298 1,260 1,336 1,520 of which: IBRD 672 595 415 410 387 360 327 398 IDA 0 0 0 0 0 0 0 0 Bilateral 2,289 2,129 1,231 791 859 998 935 887 Private creditors 561 358 1,320 3,400 3,988 4,452 4,633 4,257 of which: Bonds 0 25 1,004 3,043 3,568 4,050 4,218 3,890 Commercial banks 331 269 265 317 385 357 380 326 Private nonguaranteed 34 128 103 390 811 2,173 2,164 3,241 of which: Bonds 0 55 0 300 730 2,130 2,130 3,215 Disbursements 292 305 904 1,346 1,216 2,396 692 1,502 Public and publicly guaranteed 292 250 904 1,039 786 996 692 417 Official creditors 253 193 311 87 234 274 266 350 Multilateral 110 125 255 67 82 93 219 336 of which: IBRD 35 61 98 17 18 19 13 120 IDA 0 0 0 0 0 0 0 0 Bilateral 144 68 57 20 153 182 47 14 Private creditors 39 57 593 952 552 722 426 67 of which: Bonds 0 13 553 875 450 625 350 0 Commercial banks 0 42 24 75 97 80 76 57 Private nonguaranteed 0 55 0 307 430 1,400 0 1,085 of which: Bonds 0 0 0 300 430 1,400 0 1,085 Principal repayments 290 340 424 550 312 590 459 702 Public and publicly guaranteed 281 335 360 541 303 567 450 694 Official creditors 205 255 273 231 246 244 260 229 Multilateral 100 127 122 119 137 154 148 153 of which: IBRD 62 85 60 39 43 48 47 49 IDA 0 0 0 0 0 0 0 0 Bilateral 105 129 151 113 109 89 113 75 Private creditors 76 80 87 310 58 324 190 465 of which: Bonds 0 0 13 256 0 229 138 345 Commercial banks 1 73 47 44 44 85 44 115 Private nonguaranteed 8 5 64 9 9 22 9 9 of which: Bonds 0 0 55 0 0 0 0 0 Interest payments 202 191 208 387 473 657 675 736 Public and publicly guaranteed 200 181 195 361 422 472 480 510 Official creditors 165 158 120 84 91 90 80 95 Multilateral 85 83 65 63 67 69 62 59 of which: IBRD 58 47 22 19 22 22 19 15 IDA 0 0 0 0 0 0 0 0 Bilateral 79 75 55 21 24 21 18 36 Private creditors 35 23 75 277 332 382 400 415 of which: Bonds 0 2 50 265 325 373 392 404 Commercial banks 20 19 18 11 6 8 7 10 Private nonguaranteed 3 11 13 26 51 185 194 226 of which: Bonds 0 5 2 21 45 181 191 224 8. Debt stock-flow reconciliation Total change in external debt stocks 120 -29 798 80 1,528 2,363 -91 628 Net flows on external debt -99 -106 440 317 1,354 2,219 -26 619 9. Debt restructurings Total amount rescheduled 469 105 0 0 0 0 0 0 Total amount forgiven 25 0 4 2 3 2 6 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 240 189 327 321 179 179 167 155 Interest 74 70 66 56 47 42 37 32 Private creditors Principal 117 511 957 229 322 2,231 282 1,216 Interest 677 649 612 536 479 354 261 200 Notes: Data on long-term private nonguaranteed debt are World Bank staff estimates based on information from market sources. 167 JORDAN 1. Summary external debt data External debt stocks 8,333 7,661 7,355 7,696 8,055 8,371 6,580 6,615 Long-term external debt 7,202 6,624 6,183 6,878 7,143 7,321 5,126 5,445 Public and publicly guaranteed 7,202 6,624 6,183 6,878 7,143 7,321 5,126 5,445 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 94 251 462 236 158 88 28 12 Short-term external debt 1,037 785 710 582 754 962 1,426 1,158 interest arrears on long-term 107 67 102 0 1 0 0 0 Memorandum items 529 177 281 17 36 34 34 17 7,202 6,624 6,148 6,790 7,000 7,172 4,978 5,306 0 0 35 88 142 150 148 139 749 1,259 384 337 159 220 427 811 External debt flows Disbursements 691 724 196 434 277 190 230 762 Long-term external debt 691 609 176 434 277 190 230 762 IMF purchases 0 115 20 0 0 0 0 0 Principal repayments 252 337 424 418 441 486 2,471 421 Long-term external debt 242 329 393 341 353 409 2,412 405 IMF repurchases 10 8 31 77 88 76 59 16 Net flows 604 484 -399 97 7 -87 -1,777 73 Long-term external debt 449 280 -217 93 -76 -220 -2,182 357 Short-term external debt 165 97 -171 81 171 209 464 -268 Interest payments 377 263 315 198 249 284 232 164 Long-term external debt 310 209 239 160 196 227 200 147 IMF charges 9 10 24 10 10 7 3 0 Short-term external debt 58 43 52 27 42 49 29 17 2. Other non-debt resource inflows Foreign direct investment 38 13 913 1,984 3,544 2,622 2,827 2,382 Portfolio equity 0 0 -17 169 144 346 521 -30 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 21.1 23.3 24.1 12.6 12.0 Japanese yen 5.8 25.6 27.5 20.1 18.3 17.8 29.9 25.9 Pound sterling 7.9 5.5 3.4 8.9 9.3 9.3 0.0 0.0 Swiss franc 0.8 0.5 0.4 1.1 0.7 0.7 0.3 0.3 U.S.dollars 45.7 28.9 29.3 26.4 25.9 25.3 24.8 31.1 4. Average terms of new commitments Official creditors Interest (%) 3.9 4.7 4.8 2.9 3.4 4.6 3.5 2.1 Maturity (years) 22.0 21.8 19.5 23.6 21.1 20.5 20.8 17.6 Grace period (years) 7.4 8.4 6.4 6.0 5.8 6.0 5.7 4.7 Private creditors Interest (%) 8.9 0.0 0.0 0.0 0.2 0.0 0.0 0.0 Maturity (years) 7.0 0.0 0.0 0.0 34.3 0.0 0.0 0.0 Grace period (years) 1.0 0.0 0.0 0.0 11.3 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,805 6,449 8,596 13,037 15,420 17,813 22,168 23,399 Exports of goods, services & income 2,578 3,594 4,207 7,426 9,144 10,684 13,751 12,085 Worker remit. & comp. of employees 499 1,441 1,845 2,500 2,883 3,434 3,794 3,597 Imports of goods, services & income 3,850 5,297 6,363 12,314 13,810 16,421 19,867 16,858 Profit remittances on FDI 0 0 33 74 130 163 257 295 Current account balance -227 -259 27 -2,272 -1,726 -2,875 -2,177 -1,265 International reserves 1,139 2,279 3,441 5,461 6,982 7,925 8,918 12,135 6. Ratios External debt stocks to exports (%) 323.2 213.1 174.8 103.6 88.1 78.4 47.9 54.7 External debt stocks to GNI (%) 219.0 118.8 85.6 59.0 52.2 47.0 29.7 28.3 Debt service to exports (%) 24.4 16.7 17.6 8.3 7.5 7.2 19.7 4.8 Short-term to external debt stocks (%) 12.4 10.2 9.7 7.6 9.4 11.5 21.7 17.5 Multilateral to external debt stocks (%) 10.6 15.5 23.2 24.8 24.3 23.7 29.7 35.7 Reserves to external debt stocks (%) 13.7 29.8 46.8 71.0 86.7 94.7 135.5 183.4 Reserves to imports (months) 3.5 5.2 6.5 5.3 6.1 5.8 5.4 8.6 168 JORDAN 7. Long-term external debt Debt outstanding and disbursed 7,202 6,624 6,183 6,878 7,143 7,321 5,126 5,445 Public and publicly guaranteed 7,202 6,624 6,183 6,878 7,143 7,321 5,126 5,445 Official creditors 3,551 4,583 5,190 6,438 6,714 6,910 4,777 5,101 Multilateral 887 1,185 1,706 1,905 1,961 1,986 1,956 2,361 of which: IBRD 516 736 798 925 897 868 835 1,074 IDA 77 69 57 45 42 39 37 34 Bilateral 2,664 3,397 3,484 4,533 4,754 4,924 2,821 2,740 Private creditors 3,651 2,041 993 440 429 411 350 344 of which: Bonds 263 801 636 190 188 186 184 181 Commercial banks 1,604 337 1 0 0 0 6 12 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 691 609 176 434 277 190 230 762 Public and publicly guaranteed 691 609 176 434 277 190 230 762 Official creditors 376 609 176 269 277 190 224 756 Multilateral 142 259 80 161 194 133 158 630 of which: IBRD 123 158 38 48 43 39 41 335 IDA 0 0 0 0 0 0 0 0 Bilateral 234 351 96 108 83 57 67 126 Private creditors 315 0 0 165 0 0 6 6 of which: Bonds 0 0 0 145 0 0 0 0 Commercial banks 73 0 0 0 0 0 6 6 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 242 329 393 341 353 409 2,412 405 Public and publicly guaranteed 242 329 393 341 353 409 2,412 405 Official creditors 142 128 238 322 340 392 2,338 394 Multilateral 94 117 124 170 168 174 185 202 of which: IBRD 52 77 53 73 78 78 86 95 IDA 1 2 3 3 3 3 3 3 Bilateral 48 11 114 152 172 218 2,154 191 Private creditors 100 201 155 20 12 17 73 11 of which: Bonds 0 0 95 11 1 2 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 310 209 239 160 196 227 200 147 Public and publicly guaranteed 310 209 239 160 196 227 200 147 Official creditors 123 116 158 153 179 209 182 131 Multilateral 54 63 91 76 90 97 88 77 of which: IBRD 37 48 53 33 45 50 38 28 IDA 1 1 0 0 0 0 0 0 Bilateral 69 53 67 77 89 112 94 54 Private creditors 187 94 80 7 18 18 19 16 of which: Bonds 14 41 46 4 12 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 -370 359 316 -1,791 35 Net flows on external debt 604 484 -399 97 7 -87 -1,777 73 9. Debt restructurings Total amount rescheduled 350 365 194 220 208 196 0 0 Total amount forgiven 0 322 63 0 0 0 246 0 Debt buyback 0 0 85 0 0 0 2,038 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 485 499 478 452 440 438 390 365 Interest 130 124 116 105 94 83 73 64 Private creditors Principal 16 17 17 16 10 11 12 13 Interest 15 14 14 13 12 12 11 11 169 KAZAKHSTAN 1. Summary external debt data External debt stocks .. 3,750 12,433 43,478 72,443 95,542 107,278 109,873 Long-term external debt .. 2,937 11,472 35,327 61,569 84,388 96,958 101,197 Public and publicly guaranteed .. 2,834 3,623 2,177 2,136 1,698 1,915 2,487 Private nonguaranteed .. 103 7,849 33,150 59,433 82,690 95,043 98,710 Use of IMF credit .. 432 0 0 0 0 0 0 Short-term external debt .. 381 961 8,151 10,873 11,154 10,321 8,676 interest arrears on long-term .. 162 0 0 0 0 0 0 Memorandum items .. 0 0 0 0 0 0 0 .. 2,834 3,619 2,157 2,130 1,698 1,915 2,487 .. 103 7,852 33,170 59,439 82,690 95,043 98,710 .. 982 688 159 30 0 174 3,550 External debt flows Disbursements .. 881 3,057 17,238 37,916 44,750 40,925 41,676 Long-term external debt .. 740 3,057 17,238 37,916 44,750 40,925 41,676 IMF purchases .. 141 0 0 0 0 0 0 Principal repayments .. 105 2,595 11,450 12,172 23,596 29,035 36,643 Long-term external debt .. 105 2,153 11,450 12,172 23,596 29,035 36,643 IMF repurchases .. 0 442 0 0 0 0 0 Net flows .. 868 1,057 9,996 28,466 21,434 11,057 3,389 Long-term external debt .. 635 904 5,787 25,744 21,154 11,890 5,033 Short-term external debt .. 93 595 4,209 2,722 281 -833 -1,645 Interest payments .. 130 775 1,730 2,303 3,575 4,391 4,044 Long-term external debt .. 102 713 1,526 1,953 3,537 4,117 3,740 IMF charges .. 17 11 0 0 0 0 0 Short-term external debt .. 10 51 204 350 38 274 304 2. Other non-debt resource inflows Foreign direct investment .. 964 1,283 1,971 6,278 11,119 15,780 12,601 Portfolio equity .. .. 19 150 2,789 828 -1,280 131 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.9 2.1 2.6 1.9 1.4 Japanese yen .. 8.9 13.8 32.6 34.9 46.7 52.5 40.1 Pound sterling .. 0.0 0.6 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 6.9 61.2 53.9 53.5 46.8 42.1 55.9 4. Average terms of new commitments Official creditors Interest (%) .. 5.5 3.0 5.0 6.2 0.0 3.4 1.4 Maturity (years) .. 14.3 27.6 16.8 16.3 0.0 15.1 21.2 Grace period (years) .. 4.5 8.4 5.3 4.8 0.0 5.3 4.7 Private creditors Interest (%) .. 6.4 11.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 5.9 6.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 2.3 5.6 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 20,229 17,038 51,427 71,551 91,767 113,878 97,263 Exports of goods, services & income .. 6,020 10,480 31,209 43,011 55,379 79,641 50,724 Worker remit. & comp. of employees .. 116 122 178 186 223 192 124 Imports of goods, services & income .. 6,292 10,362 31,852 43,803 61,541 72,377 53,229 Profit remittances on FDI .. 74 1,046 4,633 7,694 11,305 17,004 9,754 Current account balance .. -213 366 -1,056 -1,999 -8,322 6,279 -3,405 International reserves .. 1,660 2,099 7,070 19,127 17,641 19,883 23,183 6. Ratios External debt stocks to exports (%) .. 62.3 118.6 139.3 168.4 172.5 134.7 216.6 External debt stocks to GNI (%) .. 18.5 73.0 84.5 101.2 104.1 94.2 113.0 Debt service to exports (%) .. 3.9 32.2 42.2 33.7 49.1 42.0 80.2 Short-term to external debt stocks (%) .. 10.2 7.7 18.7 15.0 11.7 9.6 7.9 Multilateral to external debt stocks (%) .. 10.4 11.9 2.0 1.1 0.7 0.7 1.2 Reserves to external debt stocks (%) .. 44.3 16.9 16.3 26.4 18.5 18.5 21.1 Reserves to imports (months) .. 3.2 2.4 2.7 5.2 3.4 3.3 5.2 170 KAZAKHSTAN 7. Long-term external debt Debt outstanding and disbursed .. 2,937 11,472 35,327 61,569 84,388 96,958 101,197 Public and publicly guaranteed .. 2,834 3,623 2,177 2,136 1,698 1,915 2,487 Official creditors .. 2,293 2,239 1,780 1,762 1,684 1,912 2,486 Multilateral .. 392 1,482 869 823 711 748 1,349 of which: IBRD .. 295 1,057 599 502 427 463 547 IDA .. 0 0 0 0 0 0 0 Bilateral .. 1,901 757 911 939 973 1,164 1,137 Private creditors .. 541 1,384 396 374 13 3 1 of which: Bonds .. 0 1,000 350 350 0 0 0 Commercial banks .. 17 263 46 24 13 3 1 Private nonguaranteed .. 103 7,849 33,150 59,433 82,690 95,043 98,710 of which: Bonds .. 0 100 7,550 13,814 24,623 24,125 22,097 Disbursements .. 740 3,057 17,238 37,916 44,750 40,925 41,676 Public and publicly guaranteed .. 671 623 198 177 160 145 717 Official creditors .. 421 168 198 177 160 145 717 Multilateral .. 171 95 81 106 112 95 659 of which: IBRD .. 107 50 37 29 67 65 115 IDA .. 0 0 0 0 0 0 0 Bilateral .. 250 73 117 71 48 51 58 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 17,040 37,739 44,590 40,780 40,959 of which: Bonds .. 0 0 3,050 6,219 10,993 540 0 Principal repayments .. 105 2,153 11,450 12,172 23,596 29,035 36,643 Public and publicly guaranteed .. 95 216 1,090 222 640 131 131 Official creditors .. 27 133 1,018 200 279 120 130 Multilateral .. 0 31 921 160 226 58 59 of which: IBRD .. 0 20 658 130 143 28 32 IDA .. 0 0 0 0 0 0 0 Bilateral .. 27 102 97 40 53 62 71 Private creditors .. 68 83 72 22 361 11 2 of which: Bonds .. 0 0 0 0 350 0 0 Commercial banks .. 0 30 72 22 11 11 2 Private nonguaranteed .. 11 1,937 10,360 11,949 22,957 28,905 36,511 of which: Bonds .. 0 0 0 0 400 850 2,108 Interest payments .. 102 713 1,526 1,953 3,537 4,117 3,740 Public and publicly guaranteed .. 100 235 146 113 96 67 58 Official creditors .. 59 124 102 71 74 66 58 Multilateral .. 15 82 73 44 46 35 28 of which: IBRD .. 14 62 54 31 29 19 17 IDA .. 0 0 0 0 0 0 0 Bilateral .. 44 42 28 27 29 31 30 Private creditors .. 41 112 44 42 22 1 0 of which: Bonds .. 0 90 39 39 19 0 0 Commercial banks .. 0 14 5 3 2 1 0 Private nonguaranteed .. 1 477 1,380 1,839 3,441 4,051 3,682 of which: Bonds .. 0 11 543 834 1,510 1,802 1,706 8. Debt stock-flow reconciliation Total change in external debt stocks .. 961 6,304 10,664 28,964 23,099 11,736 2,595 Net flows on external debt .. 868 1,057 9,996 28,466 21,434 11,057 3,389 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 143 158 301 426 441 332 302 300 Interest 49 49 49 48 50 51 48 45 Private creditors Principal 26,171 18,245 13,176 7,307 10,454 6,913 5,879 8,839 Interest 3,249 2,500 1,875 1,432 1,032 733 489 256 Notes: Long-term private nonguaranteed debt includes only registered private debt of the National Bank of Kazakhstan. Short-term debt is based on the National Bank data from 2000. 171 KENYA 1. Summary external debt data External debt stocks 7,055 7,309 6,141 6,421 6,552 7,376 7,427 8,005 Long-term external debt 5,639 6,302 5,216 5,763 5,797 6,143 6,266 6,543 Public and publicly guaranteed 4,759 5,857 5,041 5,763 5,797 6,143 6,266 6,543 Private nonguaranteed 880 445 175 0 0 0 0 0 Use of IMF credit 482 374 127 159 153 269 252 451 Short-term external debt 934 634 798 499 602 964 910 1,011 interest arrears on long-term 95 31 47 21 34 57 66 72 Memorandum items 72 6 142 141 334 308 271 275 4,759 5,857 5,041 5,763 5,797 6,143 6,266 6,543 880 445 175 0 0 0 0 0 803 326 355 239 535 882 395 989 External debt flows Disbursements 777 677 377 240 123 444 325 692 Long-term external debt 640 677 333 166 123 329 325 482 IMF purchases 136 0 44 74 0 115 0 209 Principal repayments 457 605 449 447 333 344 296 273 Long-term external debt 352 566 407 439 319 334 285 255 IMF repurchases 105 39 42 7 14 10 11 18 Net flows 613 78 -31 -460 -120 439 -34 513 Long-term external debt 288 111 -74 -273 -196 -5 40 227 Short-term external debt 294 6 41 -254 90 339 -63 95 Interest payments 333 299 142 91 94 108 112 109 Long-term external debt 230 261 100 72 70 77 90 83 IMF charges 26 2 1 1 1 1 1 2 Short-term external debt 78 36 41 18 23 29 21 23 2. Other non-debt resource inflows Foreign direct investment 57 42 111 21 51 729 96 141 Portfolio equity 0 5 -6 3 2 0 5 3 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 19.1 19.0 19.7 16.8 17.4 Japanese yen 8.4 18.6 20.1 18.6 17.9 16.7 19.3 17.2 Pound sterling 8.7 3.8 2.5 0.6 0.7 0.6 0.4 0.4 Swiss franc 3.4 4.2 1.4 0.1 0.1 0.1 0.1 0.1 U.S.dollars 30.9 35.8 49.8 49.3 49.3 48.8 47.5 46.3 4. Average terms of new commitments Official creditors Interest (%) 3.1 2.1 1.1 1.3 1.8 1.4 1.3 1.2 Maturity (years) 29.6 35.7 39.0 35.5 33.3 39.1 30.6 36.7 Grace period (years) 8.4 9.8 10.0 8.4 8.9 9.7 8.3 9.4 Private creditors Interest (%) 7.4 4.8 7.5 0.0 0.0 0.0 1.0 3.9 Maturity (years) 12.8 5.2 5.9 0.0 0.0 17.3 13.0 7.8 Grace period (years) 4.9 0.6 1.4 0.0 0.0 2.5 1.5 3.3 5. Major economic aggregates Gross national income (GNI) 8,224 8,726 12,562 18,732 22,540 27,229 30,457 30,235 Exports of goods, services & income 2,233 3,580 2,821 5,416 6,045 7,223 8,467 7,588 Worker remit. & comp. of employees 139 298 538 805 1,128 1,588 1,692 1,686 Imports of goods, services & income 3,128 6,195 3,941 6,921 8,341 10,364 12,781 11,493 Profit remittances on FDI 132 116 29 35 39 124 52 66 Current account balance -527 -1,578 -199 -252 -510 -1,034 -1,978 .. International reserves 236 384 898 1,799 2,416 3,355 2,879 3,850 6. Ratios External debt stocks to exports (%) 315.9 204.2 217.7 118.6 108.4 102.1 87.7 105.5 External debt stocks to GNI (%) 85.8 83.8 48.9 34.3 29.1 27.1 24.4 26.5 Debt service to exports (%) 35.4 25.3 20.9 9.9 7.1 6.3 4.8 5.0 Short-term to external debt stocks (%) 13.2 8.7 13.0 7.8 9.2 13.1 12.2 12.6 Multilateral to external debt stocks (%) 35.3 39.7 46.2 53.4 52.5 48.6 49.6 48.2 Reserves to external debt stocks (%) 3.3 5.3 14.6 28.0 36.9 45.5 38.8 48.1 Reserves to imports (months) 0.9 0.7 2.7 3.1 3.5 3.9 2.7 4.0 172 KENYA 7. Long-term external debt Debt outstanding and disbursed 5,639 6,302 5,216 5,763 5,797 6,143 6,266 6,543 Public and publicly guaranteed 4,759 5,857 5,041 5,763 5,797 6,143 6,266 6,543 Official creditors 3,712 5,212 4,559 5,400 5,470 5,804 5,947 6,192 Multilateral 2,492 2,903 2,836 3,426 3,436 3,581 3,684 3,862 of which: IBRD 871 435 47 0 0 0 0 0 IDA 1,185 1,977 2,262 2,663 2,764 2,968 3,050 3,156 Bilateral 1,220 2,309 1,724 1,974 2,033 2,223 2,262 2,330 Private creditors 1,047 645 482 363 327 339 319 352 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 880 510 436 292 252 260 238 243 Private nonguaranteed 880 445 175 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 640 677 333 166 123 329 325 482 Public and publicly guaranteed 585 677 333 166 123 329 325 482 Official creditors 404 545 248 138 122 329 318 455 Multilateral 297 219 196 64 74 214 231 249 of which: IBRD 3 0 0 0 0 0 0 0 IDA 234 159 170 34 41 159 178 164 Bilateral 106 326 52 74 48 115 87 207 Private creditors 182 132 85 28 1 0 7 27 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 119 72 77 28 1 0 0 0 Private nonguaranteed 55 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 352 566 407 439 319 334 285 255 Public and publicly guaranteed 315 481 362 429 319 334 285 255 Official creditors 180 271 241 356 257 323 270 252 Multilateral 127 150 112 327 220 223 105 106 of which: IBRD 95 100 40 1 0 0 0 0 IDA 4 9 29 54 60 66 75 81 Bilateral 53 120 129 28 38 100 166 147 Private creditors 135 210 121 74 62 11 15 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 114 164 108 72 61 9 13 0 Private nonguaranteed 37 85 45 10 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 230 261 100 72 70 77 90 83 Public and publicly guaranteed 193 220 81 72 70 77 90 83 Official creditors 134 167 55 66 65 75 88 82 Multilateral 100 77 38 48 36 32 34 32 of which: IBRD 78 43 7 0 0 0 0 0 IDA 7 14 16 23 22 22 24 22 Bilateral 34 89 17 17 29 44 54 50 Private creditors 59 53 27 6 5 2 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 52 45 23 6 4 1 1 0 Private nonguaranteed 38 41 19 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 1,166 185 -334 -490 131 824 51 578 Net flows on external debt 613 78 -31 -460 -120 439 -34 513 9. Debt restructurings Total amount rescheduled 0 0 122 127 137 0 0 0 Total amount forgiven 97 0 10 3 16 0 0 5 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 295 323 338 344 332 347 360 380 Interest 91 92 90 86 81 77 71 65 Private creditors Principal 19 10 10 12 12 8 7 7 Interest 1 1 1 1 1 1 0 0 173 KOSOVO 1. Summary external debt data External debt stocks .. .. .. .. .. .. .. 358.5 Long-term external debt .. .. .. .. .. .. .. 358.5 Public and publicly guaranteed .. .. .. .. .. .. .. 358.5 Private nonguaranteed .. .. .. .. .. .. .. 0.0 Use of IMF credit .. .. .. .. .. .. .. 0.0 Short-term external debt .. .. .. .. .. .. .. 0.0 interest arrears on long-term .. .. .. .. .. .. .. 0.0 Memorandum items .. .. .. .. .. .. .. 0.0 .. .. .. .. .. .. .. 358.5 .. .. .. .. .. .. .. 0.0 .. .. .. .. .. .. .. 0.0 External debt flows Disbursements .. .. .. .. .. .. .. 0.0 Long-term external debt .. .. .. .. .. .. .. 0.0 IMF purchases .. .. .. .. .. .. .. 0.0 Principal repayments .. .. .. .. .. .. .. 207.7 Long-term external debt .. .. .. .. .. .. .. 207.7 IMF repurchases .. .. .. .. .. .. .. 0.0 Net flows .. .. .. .. .. .. .. -207.7 Long-term external debt .. .. .. .. .. .. .. -207.7 Short-term external debt .. .. .. .. .. .. .. 0.0 Interest payments .. .. .. .. .. .. .. 22.5 Long-term external debt .. .. .. .. .. .. .. 22.5 IMF charges .. .. .. .. .. .. .. 0.0 Short-term external debt .. .. .. .. .. .. .. 0.0 2. Other non-debt resource inflows Foreign direct investment .. .. .. .. .. .. 525.0 425.7 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. .. .. .. .. 0.0 Japanese yen .. .. .. .. .. .. .. 0.0 Pound sterling .. .. .. .. .. .. .. 0.0 Swiss franc .. .. .. .. .. .. .. 0.0 U.S.dollars .. .. .. .. .. .. .. 100.0 4. Average terms of new commitments Official creditors Interest (%) .. .. .. .. .. .. .. 0.0 Maturity (years) .. .. .. .. .. .. .. 0.0 Grace period (years) .. .. .. .. .. .. .. 0.0 Private creditors Interest (%) .. .. .. .. .. .. .. 0.0 Maturity (years) .. .. .. .. .. .. .. 0.0 Grace period (years) .. .. .. .. .. .. .. 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. .. 4926.7 5883.6 5583.3 Exports of goods, services & income .. .. .. .. .. .. .. 1105.1 Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & income .. .. .. .. .. 2441.2 3098.6 2335.3 Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. 951.7 892.1 830.2 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. 32.4 External debt stocks to GNI (%) .. .. .. .. .. .. .. 6.4 Debt service to exports (%) .. .. .. .. .. .. .. 20.8 Short-term to external debt stocks (%) .. .. .. .. .. .. .. .. Multilateral to external debt stocks (%) .. .. .. .. .. .. .. 100.0 Reserves to external debt stocks (%) .. .. .. .. .. .. .. 231.6 Reserves to imports (months) .. .. .. .. .. 4.7 3.5 4.3 174 KOSOVO 7. Long-term external debt Debt outstanding and disbursed .. .. .. .. .. .. .. 358.5 Public and publicly guaranteed .. .. .. .. .. .. .. 358.5 Official creditors .. .. .. .. .. .. .. 358.5 Multilateral .. .. .. .. .. .. .. 358.5 of which: IBRD .. .. .. .. .. .. .. 358.5 IDA .. .. .. .. .. .. .. 0.0 Bilateral .. .. .. .. .. .. .. 0.0 Private creditors .. .. .. .. .. .. .. 0.0 of which: Bonds .. .. .. .. .. .. .. 0.0 Commercial banks .. .. .. .. .. .. .. 0.0 Private nonguaranteed .. .. .. .. .. .. .. 0.0 of which: Bonds .. .. .. .. .. .. .. 0.0 Disbursements .. .. .. .. .. .. .. 0.0 Public and publicly guaranteed .. .. .. .. .. .. .. 0.0 Official creditors .. .. .. .. .. .. .. 0.0 Multilateral .. .. .. .. .. .. .. 0.0 of which: IBRD .. .. .. .. .. .. .. 0.0 IDA .. .. .. .. .. .. .. 0.0 Bilateral .. .. .. .. .. .. .. 0.0 Private creditors .. .. .. .. .. .. .. 0.0 of which: Bonds .. .. .. .. .. .. .. 0.0 Commercial banks .. .. .. .. .. .. .. 0.0 Private nonguaranteed .. .. .. .. .. .. .. 0.0 of which: Bonds .. .. .. .. .. .. .. 0.0 Principal repayments .. .. .. .. .. .. .. 207.7 Public and publicly guaranteed .. .. .. .. .. .. .. 207.7 Official creditors .. .. .. .. .. .. .. 207.7 Multilateral .. .. .. .. .. .. .. 207.7 of which: IBRD .. .. .. .. .. .. .. 207.7 IDA .. .. .. .. .. .. .. 0.0 Bilateral .. .. .. .. .. .. .. 0.0 Private creditors .. .. .. .. .. .. .. 0.0 of which: Bonds .. .. .. .. .. .. .. 0.0 Commercial banks .. .. .. .. .. .. .. 0.0 Private nonguaranteed .. .. .. .. .. .. .. 0.0 of which: Bonds .. .. .. .. .. .. .. 0.0 Interest payments .. .. .. .. .. .. .. 22.5 Public and publicly guaranteed .. .. .. .. .. .. .. 22.5 Official creditors .. .. .. .. .. .. .. 22.5 Multilateral .. .. .. .. .. .. .. 22.5 of which: IBRD .. .. .. .. .. .. .. 22.5 IDA .. .. .. .. .. .. .. 0.0 Bilateral .. .. .. .. .. .. .. 0.0 Private creditors .. .. .. .. .. .. .. 0.0 of which: Bonds .. .. .. .. .. .. .. 0.0 Commercial banks .. .. .. .. .. .. .. 0.0 Private nonguaranteed .. .. .. .. .. .. .. 0.0 of which: Bonds .. .. .. .. .. .. .. 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. .. .. .. .. .. 0.0 Net flows on external debt .. .. .. .. .. .. .. -207.7 9. Debt restructurings Total amount rescheduled .. .. .. .. .. .. .. 0.0 Total amount forgiven .. .. .. .. .. .. .. 0.0 Debt buyback .. .. .. .. .. .. .. 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 16.3 16.3 16.3 16.3 16.3 16.3 16.3 16.3 Interest 4.8 4.6 4.3 4.1 3.9 3.7 3.5 3.2 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Kosovo became a World Bank member on June 29, 2009. Since 1999, Kosovo has been a territory under international administration pursuant to UN Security Council Resolution 1244 (1999). 175 KYRGYZ REPUBLIC 1. Summary external debt data External debt stocks .. 609 1,827 2,027 2,373 2,504 2,466 2,900 Long-term external debt .. 472 1,510 1,825 2,101 2,278 2,269 2,652 Public and publicly guaranteed .. 472 1,220 1,665 1,831 1,898 1,963 2,320 Private nonguaranteed .. 0 290 161 270 380 307 332 Use of IMF credit .. 124 188 178 163 150 165 167 Short-term external debt .. 13 129 24 109 76 32 81 interest arrears on long-term .. 11 10 3 5 7 6 2 Memorandum items .. 11 28 6 6 9 11 2 .. 472 1,220 1,665 1,831 1,898 1,963 2,320 .. 0 290 161 270 380 307 332 .. 164 201 86 16 46 96 609 External debt flows Disbursements .. 201 180 151 243 281 245 691 Long-term external debt .. 155 161 133 239 277 203 665 IMF purchases .. 46 19 18 4 4 42 26 Principal repayments .. 36 97 104 65 151 285 322 Long-term external debt .. 36 86 74 38 126 261 296 IMF repurchases .. 0 11 31 27 25 23 26 Net flows .. 165 152 63 261 95 -82 422 Long-term external debt .. 119 75 59 202 151 -58 369 Short-term external debt .. 0 69 17 83 -35 -43 53 Interest payments .. 24 76 23 22 27 44 39 Long-term external debt .. 20 69 21 19 23 42 35 IMF charges .. 4 2 1 1 1 1 1 Short-term external debt .. 0 5 0 2 3 1 3 2. Other non-debt resource inflows Foreign direct investment .. 96 -2 43 182 208 377 189 Portfolio equity .. .. 0 0 0 1 6 1 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.8 3.5 4.3 4.0 3.5 Japanese yen .. 14.3 15.0 13.5 12.5 12.7 15.5 13.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 1.3 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 51.4 67.9 69.5 67.0 68.0 65.3 69.2 4. Average terms of new commitments Official creditors Interest (%) .. 3.7 1.0 1.0 1.4 0.5 1.6 1.3 Maturity (years) .. 28.4 35.8 36.2 31.6 26.7 21.7 31.5 Grace period (years) .. 8.1 9.5 9.3 8.1 7.3 5.9 6.5 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,626 1,288 2,372 2,786 3,750 5,037 4,410 Exports of goods, services & income .. 452 590 963 1,326 2,064 2,785 2,582 Worker remit. & comp. of employees .. 1 9 322 481 715 1,232 882 Imports of goods, services & income .. 765 753 1,499 2,338 3,313 4,892 3,892 Profit remittances on FDI .. .. 37 36 40 40 173 126 Current account balance .. -235 -76 -35 -282 -228 -631 .. International reserves .. 134 262 612 817 1,177 1,225 1,584 6. Ratios External debt stocks to exports (%) .. 134.9 309.8 210.6 178.9 121.3 88.5 112.3 External debt stocks to GNI (%) .. 37.5 141.9 85.5 85.2 66.8 49.0 65.8 Debt service to exports (%) .. 13.3 29.4 13.2 6.6 8.6 11.8 14.0 Short-term to external debt stocks (%) .. 2.1 7.1 1.2 4.6 3.0 1.3 2.8 Multilateral to external debt stocks (%) .. 30.3 39.5 54.2 50.1 51.1 52.3 45.2 Reserves to external debt stocks (%) .. 21.9 14.3 30.2 34.4 47.0 49.7 54.6 Reserves to imports (months) .. 2.1 4.2 4.9 4.2 4.3 3.0 4.9 176 KYRGYZ REPUBLIC 7. Long-term external debt Debt outstanding and disbursed .. 472 1,510 1,825 2,101 2,278 2,269 2,652 Public and publicly guaranteed .. 472 1,220 1,665 1,831 1,898 1,963 2,320 Official creditors .. 472 1,184 1,665 1,831 1,898 1,963 2,320 Multilateral .. 184 722 1,099 1,190 1,280 1,290 1,310 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 141 377 565 612 651 655 656 Bilateral .. 288 461 566 641 618 672 1,010 Private creditors .. 0 37 0 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 .. 0 290 161 270 380 307 332 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 155 161 133 239 277 203 665 Public and publicly guaranteed .. 155 153 76 87 66 51 379 Official creditors .. 155 149 76 87 66 51 379 Multilateral .. 124 107 70 73 58 50 41 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 81 52 34 26 22 20 8 Bilateral .. 31 42 6 15 8 1 338 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 57 152 211 152 287 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 36 86 74 38 126 261 296 Public and publicly guaranteed .. 36 17 16 20 25 35 38 Official creditors .. 36 13 16 20 25 35 38 Multilateral .. 30 8 16 20 22 29 33 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 4 6 9 11 12 Bilateral .. 6 5 0 0 3 6 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 57 18 102 226 258 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 20 69 21 19 23 42 35 Public and publicly guaranteed .. 20 23 12 15 16 17 19 Official creditors .. 20 20 12 15 16 17 19 Multilateral .. 3 11 12 12 12 13 12 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 1 3 5 5 5 5 5 Bilateral .. 17 10 0 2 4 4 7 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 9 5 6 24 16 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 163 92 -84 346 130 -38 434 Net flows on external debt .. 165 152 63 261 95 -82 422 9. Debt restructurings Total amount rescheduled .. 0 32 520 7 7 15 16 Total amount forgiven .. 0 0 17 0 8 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 57 58 59 64 73 90 101 105 Interest 34 35 35 35 34 34 32 32 Private creditors Principal 93 34 42 34 33 33 32 30 Interest 5 5 5 4 4 4 4 4 Notes: Long-term private nonguaranteed debt data for 2009 are World Bank staff estimates. 177 LAO PEOPLE'S DEMOCRATIC REPUBLIC 1. Summary external debt data External debt stocks 1,766 2,155 2,501 2,844 3,377 4,388 4,955 5,539 Long-term external debt 1,757 2,091 2,459 2,815 3,350 4,362 4,934 5,523 Public and publicly guaranteed 1,757 2,091 2,459 1,989 2,259 2,515 2,720 2,923 Private nonguaranteed 0 0 0 825 1,090 1,847 2,213 2,601 Use of IMF credit 8 64 42 29 27 26 21 16 Short-term external debt 0 0 0 0 0 0 0 0 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 1 0 1 0 0 0 0 0 1,757 2,091 2,459 1,989 2,259 2,515 2,720 2,923 0 0 0 825 1,090 1,847 2,213 2,601 125 110 68 76 16 210 13 123 External debt flows Disbursements 152 110 77 472 491 1,058 629 695 Long-term external debt 152 92 77 472 491 1,058 629 695 IMF purchases 0 18 0 0 0 0 0 0 Principal repayments 6 19 31 85 134 135 137 165 Long-term external debt 5 17 23 79 130 132 132 159 IMF repurchases 1 2 8 6 3 3 4 6 Net flows 146 91 47 386 357 923 492 529 Long-term external debt 146 75 55 392 361 926 497 535 Short-term external debt 0 0 0 0 0 0 0 0 Interest payments 3 6 9 47 48 55 67 77 Long-term external debt 3 6 9 47 48 54 67 77 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 0 0 0 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 6 95 34 28 187 324 228 190 Portfolio equity 0 0 .. 0 0 0 .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.0 0.0 0.0 0.0 0.0 Japanese yen 1.5 1.1 0.4 0.1 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 7.1 13.1 18.4 46.7 52.4 54.7 56.4 59.4 4. Average terms of new commitments Official creditors Interest (%) 0.9 2.5 1.4 3.6 1.4 1.3 1.1 1.5 Maturity (years) 39.9 37.1 31.6 27.9 24.9 26.1 29.1 20.2 Grace period (years) 10.0 9.7 8.1 7.9 8.7 9.6 8.0 5.3 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 866 1,758 1,664 2,584 3,315 4,146 5,283 5,799 Exports of goods, services & income 105 415 513 763 1,122 1,245 .. .. Worker remit. & comp. of employees 11 22 1 1 1 1 1 1 Imports of goods, services & income 215 761 638 1,022 1,199 1,235 .. .. Profit remittances on FDI 0 6 .. .. .. .. .. .. Current account balance -55 -237 -8 -193 50 107 .. .. International reserves 8 99 144 309 462 708 875 1,010 6. Ratios External debt stocks to exports (%) 1,688.4 519.1 487.3 373.0 301.1 352.6 .. .. External debt stocks to GNI (%) 204.0 122.6 150.3 110.1 101.9 105.8 93.8 95.5 Debt service to exports (%) 8.5 6.1 7.8 17.3 16.2 15.2 .. .. Short-term to external debt stocks (%) 0.0 .. 0.0 .. .. .. .. .. Multilateral to external debt stocks (%) 15.1 28.8 41.6 53.6 49.6 42.1 39.7 36.2 Reserves to external debt stocks (%) 0.5 4.6 5.7 10.9 13.7 16.1 17.7 18.2 Reserves to imports (months) 0.5 1.6 2.7 3.6 4.6 6.9 .. .. 178 LAO PEOPLE'S DEMOCRATIC REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 1,757 2,091 2,459 2,815 3,350 4,362 4,934 5,523 Public and publicly guaranteed 1,757 2,091 2,459 1,989 2,259 2,515 2,720 2,923 Official creditors 1,757 2,091 2,459 1,989 2,259 2,515 2,720 2,923 Multilateral 266 620 1,041 1,525 1,676 1,847 1,966 2,003 of which: IBRD 0 0 0 0 0 0 0 0 IDA 131 285 403 598 643 686 685 680 Bilateral 1,491 1,471 1,418 464 584 668 755 920 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 0 825 1,090 1,847 2,213 2,601 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 152 92 77 472 491 1,058 629 695 Public and publicly guaranteed 152 92 77 150 125 201 174 205 Official creditors 152 92 77 150 125 201 174 205 Multilateral 78 92 73 113 111 114 84 80 of which: IBRD 0 0 0 0 0 0 0 0 IDA 32 28 20 35 26 27 17 4 Bilateral 74 0 4 37 14 87 90 124 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 0 321 366 857 454 490 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 5 17 23 79 130 132 132 159 Public and publicly guaranteed 5 17 23 39 29 33 43 57 Official creditors 5 17 23 39 29 33 43 57 Multilateral 3 4 9 22 25 30 40 47 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 1 4 9 9 11 13 14 Bilateral 3 14 14 17 5 3 3 10 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 40 101 100 89 103 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 3 6 9 47 48 54 67 77 Public and publicly guaranteed 3 6 9 14 20 18 23 25 Official creditors 3 6 9 14 20 18 23 25 Multilateral 2 5 9 14 15 16 18 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 5 2 5 7 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 32 28 37 44 52 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 295 86 -31 228 533 1,011 566 584 Net flows on external debt 146 91 47 386 357 923 492 529 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 86 95 102 107 114 115 120 133 Interest 32 31 31 30 29 28 27 28 Private creditors Principal 702 494 442 260 208 156 130 104 Interest 114 84 58 42 30 20 12 6 Notes: Data on long-term public and publicly guaranteed debt are World Bank staff estimates based on reports provided by the country. Long-term private nonguaranteed debt data are World Bank staff estimates. 179 LEBANON 1. Summary external debt data External debt stocks 1,787 2,974 10,244 23,326 25,107 25,625 24,292 24,864 Long-term external debt 366 1,609 7,704 19,876 20,907 21,426 21,037 21,649 Public and publicly guaranteed 366 1,559 6,968 18,865 20,102 20,896 20,567 20,979 Private nonguaranteed 0 50 736 1,011 805 530 470 670 Use of IMF credit 0 0 0 0 0 80 117 119 Short-term external debt 1,421 1,365 2,541 3,450 4,200 4,118 3,138 3,096 interest arrears on long-term 39 10 0 0 0 0 0 0 Memorandum items 132 43 0 0 0 0 0 0 366 1,559 6,942 18,865 20,102 20,896 20,567 20,979 0 50 762 1,011 805 530 470 670 0 1,553 2,188 2,991 3,704 3,319 2,519 2,964 External debt flows Disbursements 12 907 2,445 3,178 3,814 3,449 2,731 3,326 Long-term external debt 12 907 2,445 3,178 3,814 3,372 2,690 3,326 IMF purchases 0 0 0 0 0 78 40 0 Principal repayments 27 104 884 2,172 3,004 3,078 2,905 2,694 Long-term external debt 27 104 884 2,172 3,004 3,078 2,905 2,694 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 726 829 1,900 485 1,560 289 -1,154 589 Long-term external debt -16 803 1,561 1,006 810 293 -214 631 Short-term external debt 742 26 339 -521 750 -82 -980 -42 Interest payments 72 121 607 1,462 1,516 1,646 1,602 1,548 Long-term external debt 11 55 475 1,287 1,316 1,430 1,442 1,407 IMF charges 0 0 0 0 0 2 3 2 Short-term external debt 61 67 132 175 200 213 157 139 2. Other non-debt resource inflows Foreign direct investment .. .. .. 2,624 2,675 3,376 4,333 4,804 Portfolio equity .. .. .. 1,436 551 791 466 929 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.9 9.9 9.6 9.5 8.9 Japanese yen 0.5 0.0 0.1 0.1 0.1 0.2 0.3 0.3 Pound sterling 0.7 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 40.0 68.8 67.9 85.7 85.4 85.9 86.5 87.2 4. Average terms of new commitments Official creditors Interest (%) 0.0 5.4 7.5 4.7 4.4 4.5 4.4 2.0 Maturity (years) 0.0 18.7 14.7 19.0 21.7 18.6 13.6 29.0 Grace period (years) 0.0 4.4 5.2 4.1 6.3 7.1 3.6 7.0 Private creditors Interest (%) 0.0 8.8 9.1 7.4 7.6 6.1 8.9 7.9 Maturity (years) 0.0 7.9 4.9 5.7 10.3 7.5 5.8 6.8 Grace period (years) 0.0 4.6 4.7 5.4 10.2 4.9 5.8 6.8 5. Major economic aggregates Gross national income (GNI) 3,461 12,211 17,581 21,674 22,622 25,789 29,791 35,172 Exports of goods, services & income .. .. .. 15,242 17,250 19,914 25,548 23,613 Worker remit. & comp. of employees 1,818 1,225 1,582 4,924 5,202 5,769 7,181 7,558 Imports of goods, services & income .. .. .. 19,053 20,335 24,287 32,011 32,995 Profit remittances on FDI .. .. .. 95 96 64 121 95 Current account balance .. .. .. -2,748 -1,116 -1,605 -4,103 -7,555 International reserves 4,210 8,100 8,475 16,618 19,239 20,599 28,265 39,132 6. Ratios External debt stocks to exports (%) .. .. .. 153.0 145.5 128.7 95.1 105.3 External debt stocks to GNI (%) 51.6 24.4 58.3 107.6 111.0 99.4 81.5 70.7 Debt service to exports (%) .. .. .. 23.8 26.2 23.7 17.6 18.0 Short-term to external debt stocks (%) 79.5 45.9 24.8 14.8 16.7 16.1 12.9 12.5 Multilateral to external debt stocks (%) 5.2 6.9 8.7 5.1 5.2 5.6 5.4 5.2 Reserves to external debt stocks (%) 235.6 272.3 82.7 71.2 76.6 80.4 116.4 157.4 Reserves to imports (months) .. .. .. 10.5 11.4 10.2 10.6 14.2 180 LEBANON 7. Long-term external debt Debt outstanding and disbursed 366 1,609 7,704 19,876 20,907 21,426 21,037 21,649 Public and publicly guaranteed 366 1,559 6,968 18,865 20,102 20,896 20,567 20,979 Official creditors 197 436 1,290 2,169 2,301 2,418 2,392 2,308 Multilateral 93 206 890 1,191 1,299 1,427 1,320 1,301 of which: IBRD 34 113 248 360 314 437 368 318 IDA 0 0 0 0 0 0 0 0 Bilateral 104 230 400 978 1,003 991 1,072 1,008 Private creditors 169 1,123 5,677 16,696 17,800 18,478 18,174 18,670 of which: Bonds 0 700 5,260 16,142 17,253 17,707 17,490 18,105 Commercial banks 0 359 403 546 538 763 677 558 Private nonguaranteed 0 50 736 1,011 805 530 470 670 of which: Bonds 0 50 736 1,011 805 530 470 670 Disbursements 12 907 2,445 3,178 3,814 3,372 2,690 3,326 Public and publicly guaranteed 12 857 2,330 2,648 3,814 3,372 2,690 3,126 Official creditors 5 213 238 103 232 282 401 217 Multilateral 0 80 200 76 210 240 142 166 of which: IBRD 0 51 42 32 37 162 40 23 IDA 0 0 0 0 0 0 0 0 Bilateral 5 133 38 27 22 42 259 51 Private creditors 6 644 2,092 2,545 3,582 3,090 2,290 2,909 of which: Bonds 0 300 2,031 2,500 3,547 2,738 2,257 2,894 Commercial banks 0 340 61 45 32 352 32 15 Private nonguaranteed 0 50 115 530 0 0 0 200 of which: Bonds 0 50 115 530 0 0 0 200 Principal repayments 27 104 884 2,172 3,004 3,078 2,905 2,694 Public and publicly guaranteed 27 104 834 1,907 2,798 2,803 2,845 2,694 Official creditors 27 93 74 143 232 362 375 333 Multilateral 6 10 44 100 158 218 232 187 of which: IBRD 6 4 17 38 90 48 116 73 IDA 0 0 0 0 0 0 0 0 Bilateral 21 83 30 43 74 144 143 147 Private creditors 0 11 760 1,764 2,566 2,441 2,470 2,361 of which: Bonds 0 0 400 1,695 2,507 2,369 2,430 2,305 Commercial banks 0 9 358 68 58 71 39 55 Private nonguaranteed 0 0 50 265 206 275 60 0 of which: Bonds 0 0 50 265 206 275 60 0 Interest payments 11 55 475 1,287 1,316 1,430 1,442 1,407 Public and publicly guaranteed 11 55 418 1,197 1,242 1,373 1,402 1,364 Official creditors 9 19 57 92 87 101 105 86 Multilateral 5 11 44 49 49 60 57 43 of which: IBRD 4 7 14 15 18 19 20 11 IDA 0 0 0 0 0 0 0 0 Bilateral 5 8 14 42 38 42 48 43 Private creditors 2 35 361 1,106 1,155 1,271 1,297 1,278 of which: Bonds 0 20 300 1,087 1,144 1,252 1,279 1,262 Commercial banks 0 12 59 18 10 19 18 15 Private nonguaranteed 0 0 57 90 74 57 40 43 of which: Bonds 0 0 57 90 74 57 40 43 8. Debt stock-flow reconciliation Total change in external debt stocks 756 839 1,760 200 1,781 518 -1,333 572 Net flows on external debt 726 829 1,900 485 1,560 289 -1,154 589 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 437 459 430 314 314 253 234 223 Interest 100 97 89 80 70 61 51 42 Private creditors Principal 2,884 2,624 3,523 1,955 1,988 1,179 1,579 1,929 Interest 1,340 1,187 1,031 783 632 542 419 278 Notes: Long-term private nonguaranteed debt data only cover Bonds. 181 LESOTHO 1. Summary external debt data External debt stocks 395.6 684.4 671.8 662.0 649.9 677.6 688.8 705.3 Long-term external debt 377.7 642.0 656.7 618.9 613.5 642.2 659.2 681.1 Public and publicly guaranteed 377.7 642.0 656.7 618.9 613.5 642.2 659.2 681.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 15.1 38.4 11.1 35.0 36.3 35.4 29.7 24.1 Short-term external debt 2.8 4.0 4.0 8.0 0.1 0.0 0.0 0.0 interest arrears on long-term 0.8 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Memorandum items 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 376.5 641.3 656.4 618.9 613.5 642.2 659.2 681.1 1.2 0.7 0.3 0.0 0.0 0.0 0.0 0.0 46.4 67.4 33.9 15.0 21.5 61.2 41.5 36.2 External debt flows Disbursements 62.0 70.4 69.4 21.1 28.6 38.3 45.8 37.4 Long-term external debt 57.9 70.4 69.4 21.1 28.6 38.3 45.8 37.4 IMF purchases 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 15.0 24.7 38.3 65.3 36.1 33.8 29.5 30.1 Long-term external debt 14.8 22.0 33.2 65.3 35.6 31.1 24.5 24.2 IMF repurchases 0.2 2.7 5.2 0.0 0.5 2.7 5.0 5.9 Net flows 47.0 45.7 31.0 -43.2 -15.5 4.5 16.3 7.3 Long-term external debt 43.1 48.4 36.2 -44.2 -7.0 7.2 21.3 13.2 Short-term external debt 0.0 0.0 0.0 1.0 -8.0 0.0 0.0 0.0 Interest payments 8.3 16.1 23.2 14.2 9.6 64.5 8.0 7.6 Long-term external debt 8.0 15.7 22.9 13.7 9.2 64.3 7.8 7.4 IMF charges 0.1 0.2 0.0 0.2 0.2 0.2 0.2 0.1 Short-term external debt 0.2 0.2 0.2 0.3 0.2 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 17.1 275.3 117.8 92.6 113.0 130.3 218.0 .. Portfolio equity 0.0 .. .. 0.0 0.0 .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.8 9.8 9.2 7.5 6.8 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 1.7 0.8 1.8 0.9 0.7 0.5 0.4 0.4 Swiss franc 0.0 0.0 1.9 0.2 0.0 0.0 0.0 0.0 U.S.dollars 24.8 22.1 26.9 39.3 41.8 43.2 43.8 43.6 4. Average terms of new commitments Official creditors Interest (%) 1.0 5.9 0.3 1.7 0.8 3.2 1.7 1.0 Maturity (years) 25.1 27.5 19.3 31.0 38.1 31.0 23.9 40.9 Grace period (years) 6.2 5.7 5.4 8.5 10.3 7.8 6.3 9.3 Private creditors Interest (%) 8.4 6.5 4.6 0.0 0.0 0.0 0.0 0.0 Maturity (years) 5.9 17.9 2.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.8 4.1 0.5 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 937.4 1227.5 1010.8 1680.0 1897.7 2087.5 2045.5 2123.9 Exports of goods, services & income 555.0 670.6 542.5 1072.2 1165.5 1406.4 1486.4 1273.8 Worker remit. & comp. of employees 427.9 410.5 252.2 326.6 361.5 451.2 438.6 491.0 Imports of goods, services & income 775.9 1203.8 832.8 1474.8 1488.6 1811.7 1757.8 1799.5 Profit remittances on FDI 12.7 71.4 15.0 10.7 11.6 12.9 8.5 .. Current account balance 65.0 -323.0 -151.4 -102.0 66.3 219.8 244.2 .. International reserves 72.4 456.7 417.9 519.1 658.4 .. .. .. 6. Ratios External debt stocks to exports (%) 71.3 102.1 123.8 61.7 55.8 48.2 46.3 55.4 External debt stocks to GNI (%) 42.2 55.8 66.5 39.4 34.2 32.5 33.7 33.2 Debt service to exports (%) 4.2 6.1 11.3 7.4 3.9 7.0 2.5 3.0 Short-term to external debt stocks (%) 0.7 0.6 0.6 1.2 0.0 .. .. 0.0 Multilateral to external debt stocks (%) 73.6 68.2 70.8 78.3 84.4 86.8 87.1 86.1 Reserves to external debt stocks (%) 18.3 66.7 62.2 78.4 101.3 .. .. .. Reserves to imports (months) 1.1 4.6 6.0 4.2 5.3 .. .. .. 182 LESOTHO 7. Long-term external debt Debt outstanding and disbursed 377.7 642.0 656.7 618.9 613.5 642.2 659.2 681.1 Public and publicly guaranteed 377.7 642.0 656.7 618.9 613.5 642.2 659.2 681.1 Official creditors 344.0 607.1 580.9 590.6 591.9 624.6 646.6 667.6 Multilateral 291.0 466.9 475.7 518.4 548.2 587.8 599.9 607.3 of which: IBRD 0.0 54.0 58.6 12.7 9.1 4.2 3.3 2.5 IDA 111.7 152.8 183.2 258.2 274.6 293.2 302.7 310.7 Bilateral 53.1 140.1 105.3 72.2 43.7 36.8 46.7 60.3 Private creditors 33.7 34.9 75.8 28.4 21.6 17.5 12.5 13.6 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 27.6 20.8 16.8 11.9 13.0 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 57.9 70.4 69.4 21.1 28.6 38.3 45.8 37.4 Public and publicly guaranteed 57.9 70.4 69.4 21.1 28.6 38.3 45.8 37.4 Official creditors 51.4 54.5 67.4 21.1 28.5 38.3 45.8 37.4 Multilateral 32.0 41.1 21.2 17.1 28.1 37.6 29.5 21.6 of which: IBRD 0.0 11.2 9.9 0.1 0.0 0.0 0.0 0.0 IDA 9.2 8.8 7.8 13.1 10.8 14.0 17.2 12.8 Bilateral 19.4 13.4 46.2 3.9 0.4 0.6 16.3 15.7 Private creditors 6.5 16.0 2.0 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 3.0 16.0 2.0 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 14.8 22.0 33.2 65.3 35.6 31.1 24.5 24.2 Public and publicly guaranteed 14.8 22.0 33.2 65.3 35.6 31.1 24.5 24.2 Official creditors 8.3 17.8 26.4 32.0 27.5 25.8 21.3 23.5 Multilateral 5.4 14.1 14.1 19.7 19.4 22.0 17.8 20.5 of which: IBRD 0.0 0.0 3.9 3.6 3.6 3.6 1.0 0.7 IDA 0.6 1.3 2.5 5.0 5.3 6.0 6.3 6.9 Bilateral 2.9 3.7 12.2 12.3 8.2 3.8 3.5 2.9 Private creditors 6.5 4.2 6.8 33.3 8.1 5.3 3.2 0.7 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 33.2 8.0 5.2 3.1 0.6 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 Interest payments 8.0 15.7 22.9 13.7 9.2 64.3 7.8 7.4 Public and publicly guaranteed 8.0 15.7 22.9 13.7 9.2 64.3 7.8 7.4 Official creditors 6.1 12.4 16.0 7.7 7.1 63.3 6.7 6.9 Multilateral 4.7 8.6 7.7 5.5 5.4 5.4 5.3 5.3 of which: IBRD 0.0 3.5 3.2 0.5 0.6 0.5 0.0 0.1 IDA 0.8 1.1 1.4 2.1 2.1 2.2 2.3 2.2 Bilateral 1.4 3.8 8.3 2.1 1.7 57.9 1.4 1.6 Private creditors 1.9 3.3 7.0 6.0 2.1 1.1 1.1 0.5 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 6.0 2.0 1.0 1.1 0.5 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 67.4 61.8 -10.2 -104.7 -12.1 27.7 11.2 16.5 Net flows on external debt 47.0 45.7 31.0 -43.2 -15.5 4.5 16.3 7.3 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 18.3 5.9 1.4 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 24.1 25.2 26.9 28.9 29.1 27.5 27.1 28.3 Interest 6.7 6.8 6.8 6.7 6.4 6.0 5.7 5.5 Private creditors Principal 0.8 0.2 0.2 0.2 0.2 7.4 0.2 0.2 Interest 1.2 1.1 1.1 1.1 1.1 1.1 0.1 0.1 Notes: Large interest payment was made during 2007 to a creditor country to settle a long standing claim. 183 LIBERIA 1. Summary external debt data External debt stocks 2,056 2,466 2,809 3,921 4,160 3,745 3,128 1,660 Long-term external debt 1,119 1,153 1,104 1,179 1,204 1,034 865 677 Public and publicly guaranteed 1,119 1,153 1,104 1,179 1,204 1,034 865 677 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 322 336 292 320 336 352 858 891 Short-term external debt 615 978 1,413 2,422 2,621 2,359 1,405 92 interest arrears on long-term 559 934 1,413 2,422 2,621 2,359 1,405 92 Memorandum items 722 961 1,127 1,307 1,385 1,289 425 252 1,119 1,153 1,104 1,179 1,204 1,034 865 677 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 0 881 18 Long-term external debt 0 0 0 0 0 0 0 0 IMF purchases 0 0 0 0 0 0 881 18 Principal repayments 2 0 1 0 1 261 389 36 Long-term external debt 1 0 0 0 0 261 37 36 IMF repurchases 1 0 1 0 1 1 352 0 Net flows -1 0 -1 0 -1 -261 491 -19 Long-term external debt -1 0 0 0 0 -261 -37 -36 Short-term external debt 1 0 0 0 0 0 0 0 Interest payments 1 2 0 1 0 381 545 28 Long-term external debt 1 0 0 0 0 381 69 17 IMF charges 0 2 0 1 0 0 476 11 Short-term external debt 0 0 0 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 225 5 21 83 108 132 144 378 Portfolio equity .. .. .. 0 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.6 12.7 16.5 2.4 2.6 Japanese yen 6.1 7.7 7.2 6.6 6.4 7.8 8.2 0.0 Pound sterling 1.2 1.2 1.2 1.2 1.2 0.9 0.8 0.9 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 51.0 48.8 56.8 53.7 52.8 64.8 82.7 89.0 4. Average terms of new commitments Official creditors Interest (%) 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 24.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. 389 417 444 560 673 645 Exports of goods, services & income .. .. .. 355 509 562 657 .. Worker remit. & comp. of employees .. .. .. 32 79 62 58 55 Imports of goods, services & income .. .. .. 1,318 1,882 1,917 3,020 .. Profit remittances on FDI .. .. .. 7 14 15 23 .. Current account balance .. .. .. -184 -173 -216 -1,187 .. International reserves .. 28 0 25 72 119 161 .. 6. Ratios External debt stocks to exports (%) .. .. .. 1,105.3 816.6 666.1 476.1 .. External debt stocks to GNI (%) .. .. 723.0 939.7 937.2 668.9 465.0 257.5 Debt service to exports (%) .. .. .. 0.3 0.2 114.2 142.2 .. Short-term to external debt stocks (%) 29.9 39.6 50.3 61.8 63.0 63.0 44.9 5.5 Multilateral to external debt stocks (%) 21.1 18.4 14.1 11.2 10.8 5.1 5.0 9.3 Reserves to external debt stocks (%) .. 1.1 0.0 0.6 1.7 3.2 5.1 .. Reserves to imports (months) .. .. .. 0.2 0.5 0.7 0.6 .. 184 LIBERIA 7. Long-term external debt Debt outstanding and disbursed 1,119 1,153 1,104 1,179 1,204 1,034 865 677 Public and publicly guaranteed 1,119 1,153 1,104 1,179 1,204 1,034 865 677 Official creditors 926 945 907 981 1,005 831 670 656 Multilateral 433 453 395 440 448 192 158 155 of which: IBRD 143 161 130 146 147 0 0 0 IDA 105 108 100 106 109 77 72 69 Bilateral 493 492 512 541 557 639 512 502 Private creditors 192 208 197 198 199 203 195 21 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 172 187 180 179 178 181 195 21 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 0 261 37 36 Public and publicly guaranteed 1 0 0 0 0 261 37 36 Official creditors 1 0 0 0 0 261 37 4 Multilateral 1 0 0 0 0 261 37 4 of which: IBRD 0 0 0 0 0 163 0 0 IDA 0 0 0 0 0 35 4 3 Bilateral 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 32 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 32 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 0 381 69 17 Public and publicly guaranteed 1 0 0 0 0 381 69 17 Official creditors 1 0 0 0 0 381 69 12 Multilateral 1 0 0 0 0 381 69 12 of which: IBRD 0 0 0 0 0 292 0 0 IDA 0 0 0 0 0 18 1 1 Bilateral 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 5 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 5 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 182 118 249 91 240 -415 -616 -1,469 Net flows on external debt -1 0 -1 0 -1 -261 491 -19 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 295 3 Total amount forgiven 0 0 0 0 0 0 637 1,446 Debt buyback 0 0 0 0 0 0 0 32 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 10 10 10 8 16 14 13 13 Interest 2 7 7 7 7 6 6 6 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt are revised based on the original terms of the loans and reports provided by Paris Club. Data include the effects of Paris Club rescheduling agreement signed in 2008. 185 LITHUANIA 1. Summary external debt data External debt stocks .. 769 4,723 11,422 18,559 29,430 31,776 31,717 Long-term external debt .. 459 3,417 6,097 12,853 21,667 23,602 25,767 Public and publicly guaranteed .. 430 2,206 1,991 4,577 5,866 5,335 9,059 Private nonguaranteed .. 29 1,211 4,107 8,277 15,800 18,267 16,708 Use of IMF credit .. 262 192 0 0 0 0 0 Short-term external debt .. 49 1,114 5,325 5,706 7,763 8,174 5,949 interest arrears on long-term .. 0 0 0 0 0 0 0 Memorandum items .. 0 0 0 0 0 0 0 .. 424 2,128 1,968 4,563 5,858 5,331 9,059 .. 34 1,290 4,130 8,290 15,809 18,271 16,708 .. 422 828 0 2,513 822 110 4,458 External debt flows Disbursements .. 219 1,165 2,863 9,400 14,462 11,074 7,280 Long-term external debt .. 157 1,165 2,863 9,400 14,462 11,074 7,280 IMF purchases .. 63 0 0 0 0 0 0 Principal repayments .. 12 826 2,277 3,737 7,715 8,342 5,765 Long-term external debt .. 12 799 2,252 3,737 7,715 8,342 5,765 IMF repurchases .. 0 27 25 0 0 0 0 Net flows .. 228 383 2,145 6,044 8,805 3,143 -710 Long-term external debt .. 144 366 611 5,663 6,747 2,732 1,515 Short-term external debt .. 20 44 1,559 381 2,057 411 -2,225 Interest payments .. 31 281 323 436 748 1,042 763 Long-term external debt .. 17 215 173 275 529 797 585 IMF charges .. 12 11 0 0 0 0 0 Short-term external debt .. 2 55 150 161 219 245 178 2. Other non-debt resource inflows Foreign direct investment .. 73 379 1,032 1,840 2,017 1,770 307 Portfolio equity .. 6 122 130 72 -166 113 -106 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 80.9 96.4 98.3 98.4 82.7 Japanese yen .. 9.8 2.9 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 3.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 34.4 32.9 17.9 3.2 1.5 1.4 17.3 4. Average terms of new commitments Official creditors Interest (%) .. 6.3 7.1 0.0 1.6 0.0 0.0 4.1 Maturity (years) .. 14.6 13.3 0.0 4.0 0.0 0.0 23.7 Grace period (years) .. 4.4 7.8 0.0 1.0 0.0 0.0 6.9 Private creditors Interest (%) .. 8.1 7.8 0.0 4.8 4.9 5.5 7.7 Maturity (years) .. 5.4 5.0 0.0 8.1 10.3 13.0 5.7 Grace period (years) .. 1.2 4.8 0.0 8.1 10.3 1.0 4.7 5. Major economic aggregates Gross national income (GNI) .. 7,892 11,240 25,339 29,270 37,491 45,577 37,203 Exports of goods, services & income .. 3,242 5,295 15,327 18,364 21,980 29,625 21,026 Worker remit. & comp. of employees .. 1 50 534 994 1,433 1,460 1,168 Imports of goods, services & income .. 3,966 6,212 17,820 22,307 28,836 36,329 21,057 Profit remittances on FDI .. 8 123 711 878 1,423 1,016 725 Current account balance .. -614 -675 -1,831 -3,218 -5,692 -5,627 1,492 International reserves .. 829 1,363 3,816 5,773 7,721 6,442 6,657 6. Ratios External debt stocks to exports (%) .. 23.7 89.2 74.5 101.1 133.9 107.3 150.8 External debt stocks to GNI (%) .. 9.8 42.0 45.1 63.4 78.5 69.7 85.3 Debt service to exports (%) .. 1.3 20.9 17.0 22.7 38.5 31.7 31.0 Short-term to external debt stocks (%) .. 6.4 23.6 46.6 30.7 26.4 25.7 18.8 Multilateral to external debt stocks (%) .. 21.1 9.5 2.6 1.6 0.8 0.6 3.9 Reserves to external debt stocks (%) .. 107.7 28.9 33.4 31.1 26.2 20.3 21.0 Reserves to imports (months) .. 2.5 2.6 2.6 3.1 3.2 2.1 3.8 186 LITHUANIA 7. Long-term external debt Debt outstanding and disbursed .. 459 3,417 6,097 12,853 21,667 23,602 25,767 Public and publicly guaranteed .. 430 2,206 1,991 4,577 5,866 5,335 9,059 Official creditors .. 317 670 462 308 231 200 1,239 Multilateral .. 163 447 298 301 226 198 1,239 of which: IBRD .. 62 253 86 81 24 27 23 IDA .. 0 0 0 0 0 0 0 Bilateral .. 154 223 164 7 5 2 0 Private creditors .. 113 1,537 1,529 4,269 5,635 5,135 7,820 of which: Bonds .. 0 1,130 1,416 4,214 5,594 5,114 7,816 Commercial banks .. 1 188 63 51 40 20 4 Private nonguaranteed .. 29 1,211 4,107 8,277 15,800 18,267 16,708 of which: Bonds .. 0 37 0 0 1,030 1,030 1,030 Disbursements .. 157 1,165 2,863 9,400 14,462 11,074 7,280 Public and publicly guaranteed .. 157 479 45 2,540 843 116 3,589 Official creditors .. 92 146 45 28 20 6 1,028 Multilateral .. 38 139 42 28 20 6 1,028 of which: IBRD .. 12 66 14 10 0 6 0 IDA .. 0 0 0 0 0 0 0 Bilateral .. 54 7 3 0 0 0 0 Private creditors .. 64 333 0 2,511 822 110 2,561 of which: Bonds .. 0 300 0 2,511 822 110 2,561 Commercial banks .. 1 31 0 0 0 0 0 Private nonguaranteed .. 0 686 2,818 6,860 13,620 10,958 3,691 of which: Bonds .. 0 37 0 0 1,030 0 0 Principal repayments .. 12 799 2,252 3,737 7,715 8,342 5,765 Public and publicly guaranteed .. 12 310 802 273 145 344 119 Official creditors .. 3 82 235 209 128 28 30 Multilateral .. 0 62 144 52 125 25 27 of which: IBRD .. 0 9 111 19 58 3 3 IDA .. 0 0 0 0 0 0 0 Bilateral .. 3 19 91 157 3 2 2 Private creditors .. 9 229 567 64 17 316 89 of which: Bonds .. 0 25 405 0 0 294 73 Commercial banks .. 0 146 112 16 15 21 16 Private nonguaranteed .. 0 489 1,451 3,464 7,570 7,999 5,646 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 17 215 173 275 529 797 585 Public and publicly guaranteed .. 17 136 106 161 156 251 273 Official creditors .. 13 35 36 24 14 11 8 Multilateral .. 9 26 26 14 14 10 8 of which: IBRD .. 4 15 15 4 3 1 1 IDA .. 0 0 0 0 0 0 0 Bilateral .. 4 9 10 10 0 0 0 Private creditors .. 4 100 70 137 142 241 265 of which: Bonds .. 0 63 55 131 139 239 264 Commercial banks .. 0 20 6 3 2 2 0 Private nonguaranteed .. 0 80 67 114 373 545 312 of which: Bonds .. 0 0 0 0 41 58 45 8. Debt stock-flow reconciliation Total change in external debt stocks .. 267 308 942 7,137 10,871 2,346 -59 Net flows on external debt .. 228 383 2,145 6,044 8,805 3,143 -710 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 27 21 20 20 20 38 131 129 Interest 31 35 36 37 37 37 36 34 Private creditors Principal 4,537 3,200 4,333 3,163 2,125 2,554 2,276 668 Interest 1,033 893 747 574 437 263 167 80 Notes: Short-term debt data are based on government statistics. 187 MACEDONIA, FORMER YUGOSLAV REPUBLIC OF 1. Summary external debt data External debt stocks .. 1,277 1,469 2,971 3,284 4,161 4,690 5,589 Long-term external debt .. 1,078 1,333 2,109 2,362 2,564 3,018 3,689 Public and publicly guaranteed .. 788 1,206 1,638 1,556 1,520 1,574 1,874 Private nonguaranteed .. 289 127 471 805 1,044 1,443 1,816 Use of IMF credit .. 57 81 62 56 0 0 0 Short-term external debt .. 143 55 800 867 1,597 1,672 1,900 interest arrears on long-term .. 143 4 9 15 28 33 31 Memorandum items .. 216 19 36 49 108 127 116 .. 785 1,201 1,636 1,555 1,519 1,574 1,873 .. 293 132 473 807 1,044 1,444 1,816 .. 206 123 274 137 103 155 410 External debt flows Disbursements .. 112 155 334 399 538 796 884 Long-term external debt .. 75 151 318 399 538 796 884 IMF purchases .. 38 4 16 0 0 0 0 Principal repayments .. 20 93 182 439 542 295 374 Long-term external debt .. 19 74 171 430 485 295 374 IMF repurchases .. 1 19 11 10 57 0 0 Net flows .. 74 59 118 22 713 571 739 Long-term external debt .. 56 78 147 -30 52 501 510 Short-term external debt .. -18 -3 -34 61 717 69 230 Interest payments .. 11 45 92 124 163 182 177 Long-term external debt .. 9 37 54 82 88 105 93 IMF charges .. 2 3 1 2 1 0 0 Short-term external debt .. 1 5 37 40 74 77 84 2. Other non-debt resource inflows Foreign direct investment .. 9 215 97 424 699 587 248 Portfolio equity .. .. 0 54 86 170 -49 -14 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 40.9 52.3 63.0 64.0 69.6 Japanese yen .. 6.5 0.4 0.2 0.5 1.4 3.0 3.6 Pound sterling .. 1.1 0.2 0.1 0.1 0.0 0.0 0.0 Swiss franc .. 0.9 2.4 0.6 0.5 0.1 0.0 0.0 U.S.dollars .. 49.7 71.8 56.6 44.8 34.3 31.8 25.8 4. Average terms of new commitments Official creditors Interest (%) .. 3.8 5.5 3.1 3.7 5.0 5.2 2.0 Maturity (years) .. 23.0 19.5 16.7 16.8 17.0 17.4 15.3 Grace period (years) .. 6.7 6.4 5.1 5.4 5.0 4.6 4.7 Private creditors Interest (%) .. 2.3 9.2 4.6 5.8 0.0 1.8 9.9 Maturity (years) .. 29.7 3.4 10.0 16.3 0.0 4.3 3.5 Grace period (years) .. 10.9 0.5 9.9 3.9 0.0 0.1 3.5 5. Major economic aggregates Gross national income (GNI) .. 4,410 3,541 5,756 6,359 7,787 9,427 8,990 Exports of goods, services & income .. .. 1,679 2,653 3,132 4,381 5,255 3,726 Worker remit. & comp. of employees .. .. 81 227 267 345 407 401 Imports of goods, services & income .. .. 2,386 3,864 4,426 6,007 7,913 5,971 Profit remittances on FDI .. .. 31 142 59 470 253 184 Current account balance .. .. -98 -158 -56 -247 -1,210 .. International reserves .. 275 460 1,340 1,889 2,264 2,110 2,288 6. Ratios External debt stocks to exports (%) .. .. 87.5 112.0 104.9 95.0 89.2 150.0 External debt stocks to GNI (%) .. 29.0 41.5 51.6 51.7 53.4 49.7 62.2 Debt service to exports (%) .. .. 8.2 10.3 18.0 16.1 9.1 14.8 Short-term to external debt stocks (%) .. 11.2 3.7 26.9 26.4 38.4 35.6 34.0 Multilateral to external debt stocks (%) .. 22.6 38.8 30.8 31.3 25.0 22.3 19.3 Reserves to external debt stocks (%) .. 21.5 31.3 45.1 57.5 54.4 45.0 40.9 Reserves to imports (months) .. .. 2.3 4.2 5.1 4.5 3.2 4.6 188 MACEDONIA, FYR 7. Long-term external debt Debt outstanding and disbursed .. 1,078 1,333 2,109 2,362 2,564 3,018 3,689 Public and publicly guaranteed .. 788 1,206 1,638 1,556 1,520 1,574 1,874 Official creditors .. 605 921 1,203 1,298 1,239 1,277 1,321 Multilateral .. 288 570 914 1,028 1,040 1,047 1,081 of which: IBRD .. 97 116 244 259 193 237 271 IDA .. 84 249 364 383 394 386 382 Bilateral .. 317 352 289 270 199 230 240 Private creditors .. 184 284 435 258 281 297 552 of which: Bonds .. 0 0 177 198 221 209 468 Commercial banks .. 103 274 252 56 57 79 77 Private nonguaranteed .. 289 127 471 805 1,044 1,443 1,816 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 75 151 318 399 538 796 884 Public and publicly guaranteed .. 75 98 294 111 142 174 347 Official creditors .. 74 96 105 82 138 137 103 Multilateral .. 74 79 94 71 108 86 76 of which: IBRD .. 20 13 54 11 54 52 43 IDA .. 42 38 8 5 0 0 0 Bilateral .. 0 17 11 11 31 52 27 Private creditors .. 0 1 189 29 3 37 244 of which: Bonds .. 0 0 187 0 0 0 244 Commercial banks .. 0 0 2 28 3 30 0 Private nonguaranteed .. 0 54 25 289 396 622 537 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 19 74 171 430 485 295 374 Public and publicly guaranteed .. 19 25 81 307 294 78 88 Official creditors .. 19 23 67 79 286 74 81 Multilateral .. 19 20 31 36 171 52 60 of which: IBRD .. 19 3 11 12 134 8 9 IDA .. 0 0 2 4 5 6 7 Bilateral .. 0 3 36 43 115 21 21 Private creditors .. 0 2 14 228 8 5 7 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 2 14 227 6 4 5 Private nonguaranteed .. 0 49 90 123 191 217 287 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 9 37 54 82 88 105 93 Public and publicly guaranteed .. 9 30 41 52 51 54 47 Official creditors .. 9 20 32 37 38 41 33 Multilateral .. 9 19 20 23 29 33 26 of which: IBRD .. 8 7 7 10 11 10 8 IDA .. 0 2 3 3 3 3 3 Bilateral .. 0 1 12 13 9 8 6 Private creditors .. 0 10 9 15 12 14 15 of which: Bonds .. 0 0 0 9 10 10 10 Commercial banks .. 0 10 8 6 2 3 5 Private nonguaranteed .. 0 7 13 30 38 50 46 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 174 44 154 314 876 529 900 Net flows on external debt .. 74 59 118 22 713 571 739 9. Debt restructurings Total amount rescheduled .. 256 44 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 136 112 109 113 119 116 113 106 Interest 24 22 20 19 17 15 13 11 Private creditors Principal 400 311 288 402 104 277 109 93 Interest 141 122 116 53 44 41 31 22 Notes: Short-term debt is based on Central Bank data from 2004. 189 MADAGASCAR 1. Summary external debt data External debt stocks 3,689 4,302 4,691 3,494 1,492 1,707 2,086 2,213 Long-term external debt 3,320 3,687 4,286 3,182 1,242 1,411 1,732 1,851 Public and publicly guaranteed 3,320 3,687 4,286 3,182 1,242 1,411 1,727 1,846 Private nonguaranteed 0 0 0 0 0 0 4 4 Use of IMF credit 144 73 104 212 29 43 99 101 Short-term external debt 225 542 301 99 221 254 255 262 interest arrears on long-term 126 486 203 72 186 189 188 189 Memorandum items 266 1,194 665 218 223 196 197 196 3,244 3,555 4,164 3,136 1,238 1,407 1,725 1,845 76 133 122 46 4 3 7 6 211 80 187 295 284 192 506 83 External debt flows Disbursements 231 90 200 265 291 273 394 120 Long-term external debt 213 90 150 249 280 261 335 120 IMF purchases 17 0 50 17 12 12 59 0 Principal repayments 121 38 79 48 36 9 14 29 Long-term external debt 69 24 74 38 36 9 14 29 IMF repurchases 51 15 5 10 0 0 0 0 Net flows 194 59 45 244 263 294 382 98 Long-term external debt 144 66 76 211 243 252 321 92 Short-term external debt 83 7 -76 27 8 30 2 6 Interest payments 102 20 38 30 23 13 12 17 Long-term external debt 85 16 28 28 21 10 11 15 IMF charges 10 0 0 1 0 0 0 0 Short-term external debt 7 3 9 1 2 3 1 1 2. Other non-debt resource inflows Foreign direct investment 22 10 83 85 294 777 1,112 1,384 Portfolio equity 0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.3 5.8 3.0 2.9 3.0 Japanese yen 6.9 7.7 7.4 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 1.4 1.3 0.9 0.1 0.4 0.4 0.3 0.3 U.S.dollars 42.5 45.0 56.8 71.9 55.7 57.2 53.5 52.2 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.1 0.8 0.8 0.8 1.1 1.3 1.0 Maturity (years) 36.4 36.8 40.1 37.8 43.5 33.5 31.3 36.1 Grace period (years) 9.7 9.6 10.2 9.8 10.1 9.0 6.9 6.7 Private creditors Interest (%) 5.0 0.0 0.0 1.0 0.0 0.0 4.3 0.0 Maturity (years) 5.1 0.0 0.0 30.8 0.0 0.0 3.9 0.0 Grace period (years) 1.1 0.0 0.0 11.3 0.0 0.0 0.3 0.0 5. Major economic aggregates Gross national income (GNI) 2,958 3,002 3,807 4,960 5,435 7,284 9,412 .. Exports of goods, services & income 485 756 1,210 1,356 1,698 .. .. 1,998 Worker remit. & comp. of employees 8 14 11 11 11 11 11 11 Imports of goods, services & income 985 1,161 1,584 2,146 2,369 3,438 4,924 3,868 Profit remittances on FDI 1 3 4 38 .. .. .. .. Current account balance -265 -276 -260 -554 .. .. .. .. International reserves 92 109 285 481 583 847 982 1,135 6. Ratios External debt stocks to exports (%) 759.9 568.9 387.6 257.7 87.8 .. .. 110.8 External debt stocks to GNI (%) 124.7 143.3 123.2 70.4 27.4 23.4 22.2 .. Debt service to exports (%) 45.9 7.7 9.6 5.8 3.5 .. .. 2.3 Short-term to external debt stocks (%) 6.1 12.6 6.4 2.8 14.8 14.9 12.2 11.8 Multilateral to external debt stocks (%) 33.4 39.3 39.0 81.3 59.6 64.0 66.1 65.4 Reserves to external debt stocks (%) 2.5 2.5 6.1 13.8 39.1 49.6 47.1 51.3 Reserves to imports (months) 1.1 1.1 2.2 2.7 3.0 3.0 2.4 3.5 190 MADAGASCAR 7. Long-term external debt Debt outstanding and disbursed 3,320 3,687 4,286 3,182 1,242 1,411 1,732 1,851 Public and publicly guaranteed 3,320 3,687 4,286 3,182 1,242 1,411 1,727 1,846 Official creditors 3,180 3,603 4,247 3,173 1,236 1,404 1,721 1,839 Multilateral 1,231 1,690 1,828 2,839 888 1,093 1,378 1,447 of which: IBRD 26 12 0 0 0 0 0 0 IDA 770 1,110 1,378 2,298 636 865 1,066 1,105 Bilateral 1,949 1,913 2,419 334 347 311 343 393 Private creditors 140 84 39 9 6 6 7 7 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 38 28 23 8 5 5 6 6 Private nonguaranteed 0 0 0 0 0 0 4 4 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 213 90 150 249 280 261 335 120 Public and publicly guaranteed 213 90 150 249 280 261 332 119 Official creditors 212 89 150 249 280 261 331 119 Multilateral 136 78 143 248 256 250 300 71 of which: IBRD 0 0 0 0 0 0 0 0 IDA 64 76 94 221 178 198 211 31 Bilateral 77 11 7 1 24 10 31 48 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 3 2 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 69 24 74 38 36 9 14 29 Public and publicly guaranteed 69 24 74 38 36 9 13 27 Official creditors 53 19 73 37 33 8 13 27 Multilateral 19 18 37 22 19 7 5 14 of which: IBRD 3 4 0 0 0 0 0 0 IDA 3 7 17 11 7 0 1 1 Bilateral 34 1 36 15 14 1 8 13 Private creditors 16 5 0 1 3 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 11 1 0 1 3 0 0 0 Private nonguaranteed 0 0 0 0 0 0 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 85 16 28 28 21 10 11 15 Public and publicly guaranteed 85 16 28 28 21 10 11 15 Official creditors 72 15 28 28 21 10 11 15 Multilateral 18 12 17 22 16 9 10 12 of which: IBRD 2 1 0 0 0 0 0 0 IDA 5 8 10 17 11 6 7 8 Bilateral 54 4 11 6 5 1 1 3 Private creditors 13 1 0 0 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 -295 -2,002 216 379 127 Net flows on external debt 194 59 45 244 263 294 382 98 9. Debt restructurings Total amount rescheduled 88 0 0 26 11 1 14 0 Total amount forgiven 185 0 0 100 2,475 143 6 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 83 63 64 53 62 69 58 65 Interest 18 18 19 20 20 19 19 18 Private creditors Principal 1 1 1 1 0 0 0 1 Interest 0 0 0 0 0 0 0 0 Notes: Madagascar was granted debt relief effective in 2006 under MDRI. 191 MALAWI 1. Summary external debt data External debt stocks 1,557 2,238 2,705 3,183 872 836 959 1,093 Long-term external debt 1,383 2,078 2,544 3,062 789 805 835 899 Public and publicly guaranteed 1,381 2,078 2,544 3,062 789 805 835 899 Private nonguaranteed 2 0 0 0 0 0 0 0 Use of IMF credit 115 116 83 75 19 31 125 127 Short-term external debt 58 44 78 46 64 0 0 67 interest arrears on long-term 6 1 37 34 0 0 0 0 Memorandum items 19 7 72 13 0 0 0 0 1,371 2,075 2,541 3,062 789 805 835 899 13 3 3 0 0 0 0 0 259 102 59 25 20 94 170 187 External debt flows Disbursements 161 227 127 97 108 79 163 81 Long-term external debt 136 215 119 89 94 69 66 81 IMF purchases 25 12 8 8 14 10 97 0 Principal repayments 86 75 42 52 49 20 17 20 Long-term external debt 67 65 33 38 32 20 17 20 IMF repurchases 19 10 9 15 17 0 0 0 Net flows 88 183 83 45 112 -4 146 128 Long-term external debt 69 150 86 51 62 49 49 61 Short-term external debt 13 32 -2 1 52 -64 0 67 Interest payments 47 43 21 23 21 13 15 16 Long-term external debt 36 39 18 22 18 12 15 15 IMF charges 6 1 0 1 1 0 0 1 Short-term external debt 4 3 3 0 2 2 0 0 2. Other non-debt resource inflows Foreign direct investment 23 6 26 52 72 92 170 60 Portfolio equity 1 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.3 8.7 5.2 3.7 3.4 Japanese yen 9.3 12.3 8.4 6.2 0.0 0.0 0.0 0.0 Pound sterling 16.8 9.0 6.2 4.8 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 46.9 53.6 65.9 65.8 57.0 59.0 57.4 58.3 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.0 0.8 1.4 0.8 1.7 1.2 1.4 Maturity (years) 39.5 38.6 44.7 41.4 34.6 37.1 35.3 30.7 Grace period (years) 9.4 9.6 10.1 8.9 10.7 9.7 12.9 7.3 Private creditors Interest (%) 8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 11.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,837 1,350 1,707 2,813 3,125 3,563 4,025 4,418 Exports of goods, services & income 452 473 471 .. .. .. .. .. Worker remit. & comp. of employees .. 1 1 1 1 1 1 1 Imports of goods, services & income 638 708 680 .. .. 895 1,090 .. Profit remittances on FDI 5 9 15 .. .. .. .. .. Current account balance -86 -78 -73 .. .. .. .. .. International reserves 142 115 247 165 142 227 254 150 6. Ratios External debt stocks to exports (%) 344.1 472.8 574.7 .. .. .. .. .. External debt stocks to GNI (%) 84.7 165.8 158.4 113.1 27.9 23.5 23.8 24.7 Debt service to exports (%) 29.3 24.9 13.4 .. .. .. .. .. Short-term to external debt stocks (%) 3.7 1.9 2.9 1.5 7.3 .. .. 6.1 Multilateral to external debt stocks (%) 69.9 76.3 75.6 80.5 49.4 52.3 50.7 49.4 Reserves to external debt stocks (%) 9.1 5.1 9.1 5.2 16.3 27.2 26.5 13.7 Reserves to imports (months) 2.7 1.9 4.4 .. .. 3.0 2.8 .. 192 MALAWI 7. Long-term external debt Debt outstanding and disbursed 1,383 2,078 2,544 3,062 789 805 835 899 Public and publicly guaranteed 1,381 2,078 2,544 3,062 789 805 835 899 Official creditors 1,303 2,050 2,526 3,043 778 793 825 889 Multilateral 1,088 1,708 2,044 2,561 431 437 486 540 of which: IBRD 91 55 9 0 0 0 0 0 IDA 764 1,251 1,592 1,940 157 178 188 213 Bilateral 216 342 482 482 347 356 339 349 Private creditors 78 28 18 18 11 12 10 10 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 35 0 0 17 10 10 10 10 Private nonguaranteed 2 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 136 215 119 89 94 69 66 81 Public and publicly guaranteed 136 215 119 89 94 69 66 81 Official creditors 128 215 119 89 94 69 66 81 Multilateral 118 97 119 88 82 51 62 56 of which: IBRD 2 0 0 0 0 0 0 0 IDA 99 73 97 45 46 14 12 24 Bilateral 10 118 0 1 12 17 4 25 Private creditors 7 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 67 65 33 38 32 20 17 20 Public and publicly guaranteed 65 65 33 38 32 20 17 20 Official creditors 61 43 33 35 30 19 17 20 Multilateral 20 28 30 30 25 8 7 8 of which: IBRD 8 12 8 0 0 0 0 0 IDA 3 7 16 12 10 0 0 0 Bilateral 41 14 3 6 5 11 10 13 Private creditors 4 23 0 3 2 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 10 0 2 1 1 0 0 Private nonguaranteed 1 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 36 39 18 22 18 12 15 15 Public and publicly guaranteed 36 39 18 22 18 12 15 15 Official creditors 30 35 18 22 18 11 15 14 Multilateral 19 25 17 20 17 4 4 4 of which: IBRD 8 7 1 0 0 0 0 0 IDA 5 9 12 14 10 1 1 1 Bilateral 12 10 1 1 1 7 11 10 Private creditors 6 4 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 3 1 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 148 218 -36 -244 -2,311 -36 124 134 Net flows on external debt 88 183 83 45 112 -4 146 128 9. Debt restructurings Total amount rescheduled 0 0 0 1 180 24 0 11 Total amount forgiven 51 0 0 54 2,512 56 16 1 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 28 28 28 31 34 37 37 36 Interest 16 17 18 18 17 17 16 16 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Malawi was granted debt relief effective in 2006 under MDRI. Data include the effects of Paris Club restructuring agreement signed in 2006. Data for 2007, 2008, and 2009 include the effects of Enhanced HIPC Initiative, in the amount of $686 in thousands, $835 in thousands, and $1,070 in thousands respectively. 193 MALAYSIA 1. Summary external debt data External debt stocks 15,328 34,343 41,874 51,981 55,026 61,566 66,181 66,390 Long-term external debt 13,422 27,069 37,300 38,805 43,223 38,466 43,381 42,696 Public and publicly guaranteed 11,592 16,023 19,234 22,449 22,599 18,440 21,463 21,364 Private nonguaranteed 1,830 11,046 18,067 16,356 20,624 20,026 21,918 21,332 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 1,906 7,274 4,573 13,176 11,803 23,100 22,800 23,695 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 11,592 16,023 19,135 22,431 22,588 18,436 21,463 16,864 1,830 11,046 18,166 16,374 20,635 20,030 21,918 25,832 701 3,772 5,464 1,212 1,990 202 2,533 4,500 External debt flows Disbursements 1,683 8,503 5,921 6,050 7,038 5,037 5,180 6,339 Long-term external debt 1,683 8,503 5,921 6,050 7,038 5,037 5,180 6,339 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 3,167 4,450 4,146 7,192 5,269 7,819 6,258 8,793 Long-term external debt 3,167 4,450 4,146 7,192 5,269 7,819 6,258 8,793 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -1,851 5,138 337 601 396 8,516 -1,378 -1,560 Long-term external debt -1,484 4,053 1,775 -1,142 1,769 -2,781 -1,078 -2,455 Short-term external debt -367 1,085 -1,439 1,744 -1,373 11,297 -300 895 Interest payments 1,166 1,591 2,299 2,197 2,362 2,618 2,515 2,276 Long-term external debt 997 1,150 2,033 1,872 1,882 2,024 2,038 1,695 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 169 441 266 325 480 594 476 581 2. Other non-debt resource inflows Foreign direct investment 2,332 4,178 3,788 3,966 6,076 8,454 7,376 1,609 Portfolio equity 0 0 .. -1,200 2,355 -669 -10,716 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.1 4.5 6.2 5.0 0.1 Japanese yen 36.5 34.6 27.6 22.3 19.6 20.8 20.7 15.8 Pound sterling 1.6 1.0 0.7 0.6 0.6 0.8 0.5 0.6 Swiss franc 3.6 3.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 31.8 48.5 62.8 70.8 73.5 70.6 72.7 82.9 4. Average terms of new commitments Official creditors Interest (%) 4.0 3.4 3.1 0.0 0.0 0.0 0.0 0.0 Maturity (years) 22.9 24.4 24.1 0.0 0.0 0.0 0.0 0.0 Grace period (years) 6.7 6.3 3.5 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 8.9 6.3 7.0 5.2 5.7 5.7 4.7 5.3 Maturity (years) 11.4 16.9 7.6 9.6 9.2 8.8 7.0 8.4 Grace period (years) 2.6 14.0 4.0 9.5 5.6 0.8 0.8 8.4 5. Major economic aggregates Gross national income (GNI) 42,152 84,689 86,182 131,531 151,811 181,942 214,063 185,469 Exports of goods, services & income 34,514 85,992 114,356 166,757 191,091 217,219 242,135 211,985 Worker remit. & comp. of employees 185 116 342 1,117 1,365 1,570 1,329 1,315 Imports of goods, services & income 35,486 93,618 103,944 142,299 160,331 183,394 197,959 155,380 Profit remittances on FDI 1,926 4,144 7,173 8,330 8,858 9,839 13,838 .. Current account balance -870 -8,644 8,488 19,980 26,200 29,243 38,914 .. International reserves 10,659 24,699 28,651 70,458 82,876 101,995 92,166 96,704 6. Ratios External debt stocks to exports (%) 44.4 39.9 36.6 31.2 28.8 28.3 27.3 31.3 External debt stocks to GNI (%) 36.4 40.6 48.6 39.5 36.2 33.8 30.9 35.8 Debt service to exports (%) 12.6 7.0 5.6 5.6 4.0 4.8 3.6 5.2 Short-term to external debt stocks (%) 12.4 21.2 10.9 25.3 21.4 37.5 34.5 35.7 Multilateral to external debt stocks (%) 11.8 4.8 3.1 1.8 1.5 0.8 0.6 0.5 Reserves to external debt stocks (%) 69.5 71.9 68.4 135.5 150.6 165.7 139.3 145.7 Reserves to imports (months) 3.6 3.2 3.3 5.9 6.2 6.7 5.6 7.5 194 MALAYSIA 7. Long-term external debt Debt outstanding and disbursed 13,422 27,069 37,300 38,805 43,223 38,466 43,381 42,696 Public and publicly guaranteed 11,592 16,023 19,234 22,449 22,599 18,440 21,463 21,364 Official creditors 4,191 5,489 4,950 6,542 6,605 4,374 5,164 4,092 Multilateral 1,812 1,644 1,314 936 798 471 399 303 of which: IBRD 1,102 1,059 812 533 437 135 85 39 IDA 0 0 0 0 0 0 0 0 Bilateral 2,378 3,845 3,637 5,606 5,807 3,903 4,765 3,789 Private creditors 7,401 10,533 14,284 15,907 15,994 14,066 16,299 17,272 of which: Bonds 4,090 6,062 9,945 12,647 12,845 11,806 11,767 13,316 Commercial banks 2,285 4,171 2,292 1,867 1,987 1,307 3,729 3,380 Private nonguaranteed 1,830 11,046 18,067 16,356 20,624 20,026 21,918 21,332 of which: Bonds 0 1,765 3,402 7,623 7,960 7,009 6,568 5,927 Disbursements 1,683 8,503 5,921 6,050 7,038 5,037 5,180 6,339 Public and publicly guaranteed 798 4,150 3,460 2,182 1,801 558 1,942 5,319 Official creditors 737 837 1,446 981 396 206 98 47 Multilateral 273 135 61 36 30 21 13 8 of which: IBRD 205 88 15 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 464 702 1,385 944 366 185 85 39 Private creditors 61 3,313 2,015 1,201 1,405 352 1,844 5,271 of which: Bonds 0 2,100 1,061 1,150 1,000 0 0 4,500 Commercial banks 57 1,205 672 51 405 352 1,844 771 Private nonguaranteed 885 4,353 2,461 3,868 5,237 4,479 3,238 1,020 of which: Bonds 0 480 361 1,615 620 0 0 0 Principal repayments 3,167 4,450 4,146 7,192 5,269 7,819 6,258 8,793 Public and publicly guaranteed 2,697 1,701 2,017 4,752 2,447 3,646 1,503 5,351 Official creditors 365 455 840 1,218 811 1,691 820 1,053 Multilateral 216 261 139 155 167 354 100 102 of which: IBRD 164 194 100 92 96 302 50 47 IDA 0 0 0 0 0 0 0 0 Bilateral 149 195 701 1,064 644 1,337 720 951 Private creditors 2,332 1,245 1,176 3,534 1,635 1,956 683 4,298 of which: Bonds 1,239 140 200 2,036 920 1,170 0 2,959 Commercial banks 664 420 864 1,256 484 556 436 1,119 Private nonguaranteed 470 2,749 2,129 2,440 2,822 4,172 4,755 3,442 of which: Bonds 0 0 745 237 337 1,000 250 1,398 Interest payments 997 1,150 2,033 1,872 1,882 2,024 2,038 1,695 Public and publicly guaranteed 956 805 1,171 1,222 1,191 1,181 985 825 Official creditors 232 284 259 314 228 202 129 124 Multilateral 145 128 98 47 40 32 20 15 of which: IBRD 86 83 66 33 27 19 8 4 IDA 0 0 0 0 0 0 0 0 Bilateral 87 155 160 267 188 170 109 109 Private creditors 724 522 912 908 963 979 856 701 of which: Bonds 414 251 611 760 796 811 750 601 Commercial banks 199 190 189 91 109 119 69 83 Private nonguaranteed 41 345 862 650 690 843 1,053 870 of which: Bonds 0 28 159 363 437 434 373 339 8. Debt stock-flow reconciliation Total change in external debt stocks -949 4,007 -30 -175 3,045 6,540 4,615 210 Net flows on external debt -1,851 5,138 337 601 396 8,516 -1,378 -1,560 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 649 566 546 322 295 236 214 187 Interest 92 78 65 53 44 36 30 23 Private creditors Principal 6,033 6,072 3,606 2,920 5,660 5,299 1,844 1,321 Interest 1,445 1,260 1,081 985 893 653 467 404 Notes: Long-term public and publicly guaranteed, long-term private nonguaranteed debt and short-term debt for 2009 are World Bank staff estimates based on government statistics. 195 MALDIVES 1. Summary external debt data External debt stocks 78.0 154.9 206.0 391.9 488.0 629.8 715.9 780.2 Long-term external debt 64.0 151.9 184.7 329.7 383.6 444.4 497.3 569.4 Public and publicly guaranteed 64.0 151.9 184.7 329.7 383.6 444.4 497.3 569.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 5.9 6.2 6.5 3.9 8.8 Short-term external debt 14.0 3.0 21.4 56.3 98.2 179.0 214.6 202.0 interest arrears on long-term 0.0 0.0 0.0 0.3 0.2 0.0 1.6 1.0 Memorandum items 0.0 0.0 0.0 0.0 0.0 0.0 8.6 8.7 64.0 151.9 183.4 300.4 355.9 418.8 474.7 550.1 0.0 0.0 1.2 29.3 27.8 25.5 22.6 19.3 15.5 29.2 38.1 73.7 144.4 70.8 193.7 114.3 External debt flows Disbursements 13.0 34.7 13.6 57.9 67.1 73.8 102.2 121.5 Long-term external debt 13.0 34.7 13.6 51.8 67.1 73.8 102.2 113.6 IMF purchases 0.0 0.0 0.0 6.1 0.0 0.0 0.0 7.9 Principal repayments 6.0 7.1 13.9 24.4 25.5 32.6 42.9 50.0 Long-term external debt 6.0 7.1 13.9 24.4 25.5 32.6 40.4 46.8 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 2.4 3.2 Net flows 8.6 29.6 -3.8 57.5 83.6 122.2 93.3 59.5 Long-term external debt 7.0 27.6 -0.4 27.5 41.6 41.2 61.8 66.7 Short-term external debt 1.6 2.0 -3.5 24.0 42.0 81.0 34.0 -12.0 Interest payments 2.8 3.7 5.9 11.2 15.8 22.8 22.7 19.2 Long-term external debt 1.3 3.6 4.7 9.1 10.5 12.8 14.0 13.1 IMF charges 0.0 0.0 0.0 0.1 0.3 0.3 0.3 0.1 Short-term external debt 1.5 0.2 1.2 2.0 5.0 9.7 8.5 6.0 2. Other non-debt resource inflows Foreign direct investment 5.6 7.2 13.0 9.5 13.9 15.0 15.4 9.6 Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.6 14.7 20.5 22.3 18.7 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.3 1.2 Pound sterling 0.4 0.0 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 25.4 51.3 53.3 55.7 52.0 48.5 47.6 54.0 4. Average terms of new commitments Official creditors Interest (%) 0.8 2.5 2.5 1.1 3.6 4.1 0.9 2.5 Maturity (years) 37.3 34.8 34.7 30.5 19.5 20.1 12.9 23.6 Grace period (years) 9.2 10.1 9.3 7.4 4.5 5.2 4.0 5.8 Private creditors Interest (%) 0.0 7.9 6.6 6.6 8.4 6.9 0.0 2.1 Maturity (years) 0.0 6.0 8.4 7.8 10.3 8.3 0.0 11.2 Grace period (years) 0.0 1.7 1.1 1.6 1.5 1.8 0.0 1.7 5. Major economic aggregates Gross national income (GNI) 193.9 379.0 594.3 725.9 877.8 1010.9 1208.5 1300.8 Exports of goods, services & income 183.8 322.4 467.5 495.4 792.7 898.8 1052.1 833.8 Worker remit. & comp. of employees 1.7 2.4 2.2 2.3 2.8 3.0 3.1 3.1 Imports of goods, services & income 177.7 337.0 492.0 910.4 1102.8 1322.9 1651.2 1185.2 Profit remittances on FDI 13.9 19.9 34.4 31.0 41.0 44.9 42.2 26.4 Current account balance 9.9 -18.2 -51.5 -273.0 -302.0 -437.8 -651.3 .. International reserves 24.4 48.0 122.8 186.3 231.4 308.3 240.6 261.0 6. Ratios External debt stocks to exports (%) 42.4 48.0 44.1 79.1 61.6 70.1 68.0 93.6 External debt stocks to GNI (%) 40.2 40.9 34.7 54.0 55.6 62.3 59.2 60.0 Debt service to exports (%) 4.8 3.4 4.2 7.2 5.2 6.2 6.2 8.3 Short-term to external debt stocks (%) 18.0 1.9 10.4 14.4 20.1 28.4 30.0 25.9 Multilateral to external debt stocks (%) 41.7 57.0 57.6 44.6 44.7 41.7 39.0 37.0 Reserves to external debt stocks (%) 31.3 31.0 59.6 47.5 47.4 49.0 33.6 33.4 Reserves to imports (months) 1.6 1.7 3.0 2.5 2.5 2.8 1.7 2.6 196 MALDIVES 7. Long-term external debt Debt outstanding and disbursed 64.0 151.9 184.7 329.7 383.6 444.4 497.3 569.4 Public and publicly guaranteed 64.0 151.9 184.7 329.7 383.6 444.4 497.3 569.4 Official creditors 60.2 142.6 154.8 280.1 321.0 360.0 383.1 471.9 Multilateral 32.5 88.3 118.8 174.8 218.0 262.4 279.4 288.4 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 64.4 69.8 76.7 79.1 84.2 Bilateral 27.6 54.3 36.0 105.4 103.0 97.6 103.7 183.5 Private creditors 3.8 9.4 29.9 49.6 62.6 84.4 114.2 97.5 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 49.6 62.6 84.4 114.2 97.5 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 Disbursements 13.0 34.7 13.6 51.8 67.1 73.8 102.2 113.6 Public and publicly guaranteed 13.0 34.7 13.6 51.8 67.1 73.8 102.2 113.6 Official creditors 9.6 30.9 6.3 35.5 49.6 45.2 54.8 108.9 Multilateral 3.6 16.2 6.1 16.1 38.9 39.0 36.0 16.0 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 4.6 3.4 5.2 4.2 5.8 Bilateral 5.9 14.7 0.2 19.4 10.7 6.1 18.8 92.9 Private creditors 3.5 3.8 7.3 16.3 17.5 28.6 47.4 4.6 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 16.3 17.5 28.6 47.4 4.6 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 24.4 25.5 32.6 40.4 46.8 Public and publicly guaranteed 6.0 7.1 13.9 24.4 25.5 32.6 40.4 46.8 Official creditors 3.7 4.8 6.7 15.3 18.0 21.9 25.1 23.9 Multilateral 1.5 1.3 2.4 3.8 4.1 8.2 12.7 11.5 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 1.0 1.1 1.1 1.2 1.3 Bilateral 2.2 3.5 4.3 11.5 13.9 13.7 12.4 12.4 Private creditors 2.3 2.3 7.3 9.0 7.5 10.7 15.4 22.9 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 8.0 7.5 10.7 15.4 22.9 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 Interest payments 1.3 3.6 4.7 9.1 10.5 12.8 14.0 13.1 Public and publicly guaranteed 1.3 3.6 4.7 9.1 10.5 12.8 14.0 13.1 Official creditors 0.8 2.7 2.6 6.8 7.8 9.0 8.9 7.8 Multilateral 0.3 1.0 1.5 2.1 2.2 3.7 4.8 4.3 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 0.6 0.6 Bilateral 0.5 1.7 1.1 4.8 5.6 5.3 4.1 3.5 Private creditors 0.5 0.8 2.2 2.2 2.8 3.8 5.0 5.3 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 2.2 2.8 3.8 5.0 5.3 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 8. Debt stock-flow reconciliation Total change in external debt stocks 11.2 31.3 -12.9 26.1 96.1 141.8 86.1 64.3 Net flows on external debt 8.6 29.6 -3.8 57.5 83.6 122.2 93.3 59.5 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 77.7 79.4 46.6 34.4 33.2 27.9 30.8 25.9 Interest 6.0 6.3 6.3 6.0 5.6 5.2 4.8 4.6 Private creditors Principal 24.8 30.9 26.6 18.9 17.3 14.8 12.3 9.4 Interest 3.7 3.3 2.7 2.1 1.6 1.2 0.9 0.6 197 MALI 1. Summary external debt data External debt stocks 2,468 2,958 2,960 3,260 1,656 1,992 2,125 2,667 Long-term external debt 2,337 2,739 2,671 3,095 1,618 1,973 2,078 2,592 Public and publicly guaranteed 2,337 2,739 2,671 3,095 1,618 1,973 2,078 2,592 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 69 147 176 109 8 13 40 44 Short-term external debt 62 72 114 55 30 6 7 32 interest arrears on long-term 9 28 42 6 6 6 7 8 Memorandum items 63 342 541 118 134 144 160 182 2,331 2,739 2,671 3,095 1,618 1,973 2,078 2,592 6 0 0 0 0 0 0 0 123 163 245 437 277 436 302 498 External debt flows Disbursements 195 238 109 282 150 261 198 494 Long-term external debt 167 193 100 280 144 257 170 491 IMF purchases 28 45 9 2 6 4 28 3 Principal repayments 44 62 66 69 58 47 45 55 Long-term external debt 25 55 50 52 58 47 45 55 IMF repurchases 18 7 16 17 0 0 0 0 Net flows 159 200 -31 218 67 190 154 463 Long-term external debt 142 138 50 228 86 210 125 436 Short-term external debt 8 24 -73 5 -25 -24 0 24 Interest payments 24 25 26 30 26 20 25 26 Long-term external debt 17 22 18 27 24 19 25 25 IMF charges 4 1 1 0 0 0 0 0 Short-term external debt 3 2 8 3 2 1 0 0 2. Other non-debt resource inflows Foreign direct investment 6 111 82 224 83 73 180 109 Portfolio equity 0 .. 0 9 3 -6 -3 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 14.1 19.0 16.9 14.9 13.7 Japanese yen 0.3 2.3 2.9 2.0 3.7 3.0 3.3 2.4 Pound sterling 2.6 1.8 1.8 1.7 3.8 3.1 2.1 1.9 Swiss franc 2.3 2.1 1.5 1.6 3.3 2.9 3.0 2.4 U.S.dollars 14.8 22.5 33.9 44.5 28.8 29.5 30.4 31.8 4. Average terms of new commitments Official creditors Interest (%) 1.0 1.5 0.6 1.1 0.9 1.4 1.1 1.1 Maturity (years) 29.9 30.7 34.9 34.5 41.9 32.0 36.8 33.8 Grace period (years) 8.4 8.8 8.8 8.6 9.8 8.2 9.3 8.6 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 5.9 4.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 11.4 11.2 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 4.9 4.7 5. Major economic aggregates Gross national income (GNI) 2,405 2,419 2,392 5,099 5,524 7,146 8,722 8,996 Exports of goods, services & income 442 538 665 1,443 1,933 2,004 2,653 .. Worker remit. & comp. of employees 107 112 73 177 212 344 431 424 Imports of goods, services & income 889 1,040 1,046 2,108 2,476 2,985 4,174 .. Profit remittances on FDI 4 5 76 190 251 262 326 .. Current account balance -221 -284 -255 -438 -219 -581 -1,066 .. International reserves 198 323 381 855 970 1,087 1,072 1,604 6. Ratios External debt stocks to exports (%) 557.9 550.2 445.3 225.9 85.7 99.4 80.1 .. External debt stocks to GNI (%) 102.6 122.3 123.7 63.9 30.0 27.9 24.4 29.6 Debt service to exports (%) 15.3 16.1 14.0 6.9 4.4 3.3 2.6 .. Short-term to external debt stocks (%) 2.5 2.4 3.8 1.7 1.8 0.3 0.3 1.2 Multilateral to external debt stocks (%) 36.3 47.2 51.1 68.7 42.3 48.6 51.3 56.4 Reserves to external debt stocks (%) 8.0 10.9 12.9 26.2 58.5 54.6 50.4 60.2 Reserves to imports (months) 2.7 3.7 4.4 4.9 4.7 4.4 3.1 .. 198 MALI 7. Long-term external debt Debt outstanding and disbursed 2,337 2,739 2,671 3,095 1,618 1,973 2,078 2,592 Public and publicly guaranteed 2,337 2,739 2,671 3,095 1,618 1,973 2,078 2,592 Official creditors 2,321 2,737 2,671 3,091 1,611 1,967 2,073 2,585 Multilateral 897 1,397 1,513 2,240 701 969 1,089 1,504 of which: IBRD 0 0 0 0 0 0 0 0 IDA 498 863 957 1,424 297 452 534 698 Bilateral 1,424 1,340 1,158 851 910 998 983 1,081 Private creditors 16 2 0 5 7 7 5 7 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 5 7 7 5 7 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 167 193 100 280 144 257 170 491 Public and publicly guaranteed 167 193 100 280 144 257 170 491 Official creditors 167 193 100 277 143 257 170 488 Multilateral 115 146 85 210 108 190 157 381 of which: IBRD 0 0 0 0 0 0 0 0 IDA 43 85 49 111 49 139 88 160 Bilateral 52 47 14 66 35 67 13 107 Private creditors 0 0 0 3 1 0 0 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 3 1 0 0 3 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 52 58 47 45 55 Public and publicly guaranteed 25 55 50 52 58 47 45 55 Official creditors 24 55 50 52 58 46 44 54 Multilateral 14 23 26 34 39 21 25 31 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 6 7 9 5 0 0 1 Bilateral 11 32 24 19 20 25 18 23 Private creditors 1 0 0 0 0 1 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 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 Interest payments 17 22 18 27 24 19 25 25 Public and publicly guaranteed 17 22 18 27 24 19 25 25 Official creditors 17 22 18 27 23 19 24 25 Multilateral 10 12 12 21 16 11 13 15 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 6 7 11 7 3 4 4 Bilateral 7 10 5 6 7 8 11 10 Private creditors 1 0 0 0 1 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 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 8. Debt stock-flow reconciliation Total change in external debt stocks 340 264 -236 -71 -1,604 336 132 543 Net flows on external debt 159 200 -31 218 67 190 154 463 9. Debt restructurings Total amount rescheduled 11 0 0 0 0 0 0 0 Total amount forgiven 3 0 34 33 1,898 6 9 0 Debt buyback 0 0 45 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 113 113 114 113 124 142 145 154 Interest 28 30 31 31 31 30 29 27 Private creditors Principal 3 3 3 1 1 1 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Mali was granted debt relief effective in 2006 under MDRI. 199 MAURITANIA 1. Summary external debt data External debt stocks 2,113 2,396 2,378 2,308 1,618 1,705 1,987 2,029 Long-term external debt 1,806 2,127 2,029 2,072 1,389 1,438 1,670 1,851 Public and publicly guaranteed 1,806 2,127 2,029 2,072 1,389 1,438 1,670 1,851 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 70 100 98 69 0 13 16 16 Short-term external debt 238 169 251 167 229 254 301 163 interest arrears on long-term 63 79 112 109 130 128 135 134 Memorandum items 142 174 337 213 223 218 252 212 1,806 2,127 2,029 2,072 1,389 1,438 1,670 1,851 0 0 0 0 0 0 0 0 216 114 106 395 158 307 326 150 External debt flows Disbursements 148 133 123 143 175 197 297 273 Long-term external debt 136 111 115 143 175 185 294 273 IMF purchases 12 22 8 0 0 13 3 0 Principal repayments 98 79 52 42 66 93 38 53 Long-term external debt 83 70 46 33 44 93 38 53 IMF repurchases 16 9 6 10 23 0 0 0 Net flows 102 68 62 92 149 131 300 83 Long-term external debt 54 42 69 111 131 92 256 220 Short-term external debt 53 14 -9 -9 41 27 40 -137 Interest payments 47 38 31 23 25 28 26 24 Long-term external debt 35 32 20 20 20 23 21 23 IMF charges 3 0 1 0 0 0 0 0 Short-term external debt 9 5 11 3 5 5 4 1 2. Other non-debt resource inflows Foreign direct investment 7 7 40 814 106 138 338 -38 Portfolio equity 0 0 .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.2 5.3 8.3 9.4 8.1 Japanese yen 1.3 3.1 3.6 0.1 0.1 0.1 0.1 0.0 Pound sterling 0.6 0.5 0.4 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.0 U.S.dollars 34.3 34.0 40.9 49.3 32.1 36.0 37.8 39.3 4. Average terms of new commitments Official creditors Interest (%) 3.1 1.1 1.9 3.3 1.5 2.6 2.8 1.9 Maturity (years) 31.2 34.7 28.5 21.8 30.5 27.3 25.6 21.1 Grace period (years) 8.5 9.7 7.5 5.4 8.4 5.6 6.2 7.3 Private creditors Interest (%) 0.0 0.0 0.0 5.8 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 9.8 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 1.8 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,076 1,366 1,092 1,901 2,769 2,750 3,571 3,047 Exports of goods, services & income 474 506 .. .. .. .. .. .. Worker remit. & comp. of employees 14 5 2 2 2 2 2 2 Imports of goods, services & income 570 559 .. .. .. 1,715 .. 2,046 Profit remittances on FDI 1 4 .. .. .. .. .. .. Current account balance -10 22 .. .. .. .. .. .. International reserves 59 90 49 70 194 207 199 238 6. Ratios External debt stocks to exports (%) 445.4 473.9 .. .. .. .. .. .. External debt stocks to GNI (%) 196.4 175.3 217.8 121.4 58.4 62.0 55.6 66.6 Debt service to exports (%) 30.7 23.1 .. .. .. .. .. .. Short-term to external debt stocks (%) 11.2 7.1 10.6 7.2 14.1 14.9 15.1 8.0 Multilateral to external debt stocks (%) 31.0 38.6 41.8 61.2 45.1 47.0 46.4 54.9 Reserves to external debt stocks (%) 2.8 3.8 2.1 3.0 12.0 12.2 10.0 11.7 Reserves to imports (months) 1.2 1.9 .. .. .. 1.5 .. 1.4 200 MAURITANIA 7. Long-term external debt Debt outstanding and disbursed 1,806 2,127 2,029 2,072 1,389 1,438 1,670 1,851 Public and publicly guaranteed 1,806 2,127 2,029 2,072 1,389 1,438 1,670 1,851 Official creditors 1,709 2,119 2,009 2,048 1,368 1,418 1,656 1,838 Multilateral 654 926 994 1,413 730 801 922 1,114 of which: IBRD 54 11 0 0 0 0 0 0 IDA 210 336 449 677 130 203 243 282 Bilateral 1,055 1,193 1,016 635 638 616 734 725 Private creditors 97 8 19 23 22 20 14 12 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 23 22 20 14 12 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 136 111 115 143 175 185 294 273 Public and publicly guaranteed 136 111 115 143 175 185 294 273 Official creditors 136 111 115 128 175 185 294 273 Multilateral 112 88 106 109 169 134 159 219 of which: IBRD 0 0 0 0 0 0 0 0 IDA 39 30 57 42 47 66 43 38 Bilateral 24 24 9 19 6 51 135 54 Private creditors 0 0 0 15 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 15 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 83 70 46 33 44 93 38 53 Public and publicly guaranteed 83 70 46 33 44 93 38 53 Official creditors 81 69 43 31 42 92 31 52 Multilateral 66 35 34 17 39 86 25 31 of which: IBRD 11 2 2 0 0 0 0 0 IDA 1 2 1 2 1 0 0 0 Bilateral 15 34 9 14 3 6 7 21 Private creditors 1 0 2 1 2 1 6 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 1 2 1 6 1 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 20 20 23 21 23 Public and publicly guaranteed 35 32 20 20 20 23 21 23 Official creditors 34 32 18 19 19 22 21 23 Multilateral 20 15 14 15 16 17 14 13 of which: IBRD 4 1 0 0 0 0 0 0 IDA 1 2 2 6 3 2 2 2 Bilateral 14 17 5 4 3 5 7 10 Private creditors 1 0 2 1 1 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 1 1 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 142 136 -155 -15 -690 87 281 43 Net flows on external debt 102 68 62 92 149 131 300 83 9. Debt restructurings Total amount rescheduled 11 65 11 10 0 0 0 0 Total amount forgiven 71 15 53 25 905 66 38 2 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 67 82 105 112 105 104 115 114 Interest 32 36 37 37 37 35 34 32 Private creditors Principal 2 1 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Mauritania was granted debt relief effective in 2006 under MDRI. 201 MAURITIUS 1. Summary external debt data External debt stocks 934.0 1416.0 946.3 775.8 621.9 660.1 625.7 741.5 Long-term external debt 909.7 1414.9 946.3 775.8 621.9 660.1 625.7 741.5 Public and publicly guaranteed 762.2 1147.9 827.8 709.4 573.2 597.8 576.7 660.8 Private nonguaranteed 147.5 267.0 118.4 66.4 48.6 62.2 49.0 80.7 Use of IMF credit 22.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 2.3 1.2 0.0 0.0 0.0 0.0 0.0 0.0 interest arrears on long-term 2.3 1.2 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 762.2 1147.9 827.8 709.4 573.2 597.8 576.7 660.8 147.5 267.0 118.4 66.4 48.6 62.2 49.0 80.7 136.7 565.8 101.2 61.7 55.8 150.2 113.7 1203.9 External debt flows Disbursements 161.1 408.6 128.1 137.9 39.3 118.0 114.0 215.6 Long-term external debt 161.1 408.6 128.1 137.9 39.3 118.0 114.0 215.6 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 103.5 153.9 401.0 196.8 225.9 125.6 137.4 107.3 Long-term external debt 60.0 153.9 401.0 196.8 225.9 125.6 137.4 107.3 IMF repurchases 43.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 57.7 254.7 -272.9 -58.9 -186.6 -7.6 -23.4 108.3 Long-term external debt 101.2 254.7 -272.9 -58.9 -186.6 -7.6 -23.4 108.3 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 47.8 55.9 51.8 29.6 29.0 26.3 23.3 17.9 Long-term external debt 42.8 55.9 51.8 29.6 29.0 26.3 23.3 17.9 IMF charges 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 41.0 18.7 265.6 41.8 106.8 340.8 377.7 256.7 Portfolio equity 0.0 22.0 -3.5 35.6 35.1 49.8 33.9 -32.5 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 48.6 52.7 51.2 45.8 39.2 Japanese yen 1.0 1.2 2.6 5.6 6.2 6.5 8.4 6.7 Pound sterling 8.7 1.8 1.6 1.5 1.7 1.5 1.5 1.2 Swiss franc 0.5 0.2 0.3 0.2 0.2 0.2 0.1 0.0 U.S.dollars 14.4 42.3 45.9 24.9 20.5 21.7 24.9 35.8 4. Average terms of new commitments Official creditors Interest (%) 6.0 5.1 3.9 2.6 5.0 4.1 4.2 1.1 Maturity (years) 17.9 17.5 15.7 14.2 17.2 18.7 15.6 18.4 Grace period (years) 6.3 5.5 4.7 4.8 5.8 5.3 5.5 5.0 Private creditors Interest (%) 0.0 6.3 7.5 2.5 0.0 0.0 0.0 2.8 Maturity (years) 0.0 6.1 1.9 1.0 0.0 0.0 0.0 11.3 Grace period (years) 0.0 4.3 1.9 0.0 0.0 0.0 0.0 1.8 5. Major economic aggregates Gross national income (GNI) 2630.7 4021.2 4552.7 6275.7 6558.6 7745.5 9481.9 8874.2 Exports of goods, services & income 1777.8 2401.6 2671.0 3899.3 4374.0 5259.4 5747.7 4608.9 Worker remit. & comp. of employees .. 132.0 177.0 215.0 215.0 215.0 215.0 211.2 Imports of goods, services & income 1994.5 2524.9 2771.8 4284.3 5049.5 5818.3 6947.6 5507.2 Profit remittances on FDI 22.5 15.5 8.1 33.6 88.1 90.1 163.2 194.7 Current account balance -119.3 -21.9 -36.9 -324.0 -604.4 -433.9 -975.8 -674.5 International reserves 761.2 887.2 914.4 1371.6 1308.9 1831.7 1796.1 2315.6 6. Ratios External debt stocks to exports (%) 52.5 59.0 35.4 19.9 14.2 12.6 10.9 16.1 External debt stocks to GNI (%) 35.5 35.2 20.8 12.4 9.5 8.5 6.6 8.4 Debt service to exports (%) 8.5 8.7 16.9 5.8 5.8 2.9 2.8 2.7 Short-term to external debt stocks (%) 0.2 0.1 .. .. .. .. .. .. Multilateral to external debt stocks (%) 33.3 19.1 22.8 31.4 34.4 37.3 42.1 49.9 Reserves to external debt stocks (%) 81.5 62.7 96.6 176.8 210.5 277.5 287.0 312.3 Reserves to imports (months) 4.6 4.2 4.0 3.8 3.1 3.8 3.1 5.0 202 MAURITIUS 7. Long-term external debt Debt outstanding and disbursed 909.7 1414.9 946.3 775.8 621.9 660.1 625.7 741.5 Public and publicly guaranteed 762.2 1147.9 827.8 709.4 573.2 597.8 576.7 660.8 Official creditors 647.3 663.6 493.8 485.8 423.7 481.1 487.0 570.7 Multilateral 310.8 269.8 215.7 243.7 214.2 245.9 263.5 369.8 of which: IBRD 176.2 140.3 85.8 68.3 61.1 81.1 102.7 203.7 IDA 18.8 16.5 13.5 10.4 9.8 9.2 8.6 7.9 Bilateral 336.5 393.9 278.1 242.1 209.5 235.2 223.4 200.9 Private creditors 114.9 484.2 334.1 223.6 149.6 116.7 89.7 90.2 of which: Bonds 0.0 150.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 102.2 314.8 324.0 172.8 117.4 86.9 65.6 69.8 Private nonguaranteed 147.5 267.0 118.4 66.4 48.6 62.2 49.0 80.7 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 161.1 408.6 128.1 137.9 39.3 118.0 114.0 215.6 Public and publicly guaranteed 103.7 352.6 118.9 126.5 27.8 88.6 86.4 146.8 Official creditors 96.1 39.4 42.9 62.5 27.8 88.6 86.4 127.6 Multilateral 22.6 18.0 17.2 31.4 13.9 47.2 47.9 127.6 of which: IBRD 5.6 10.5 3.6 2.4 1.0 30.6 30.0 108.9 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 73.5 21.3 25.6 31.1 13.9 41.4 38.5 0.0 Private creditors 7.6 313.2 76.0 64.0 0.0 0.0 0.0 19.2 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 60.9 0.0 0.0 0.0 19.2 Private nonguaranteed 57.4 56.0 9.2 11.4 11.5 29.4 27.6 68.8 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 60.0 153.9 401.0 196.8 225.9 125.6 137.4 107.3 Public and publicly guaranteed 43.7 93.9 385.5 175.4 203.2 104.6 102.8 70.1 Official creditors 39.4 60.6 55.0 85.0 112.8 59.1 80.5 48.6 Multilateral 22.3 33.4 33.8 30.6 52.0 25.3 25.6 23.8 of which: IBRD 16.0 23.3 18.1 8.7 8.2 10.8 9.5 7.9 IDA 0.2 0.6 0.6 0.6 0.6 0.6 0.6 0.6 Bilateral 17.1 27.2 21.2 54.4 60.9 33.8 54.9 24.8 Private creditors 4.3 33.3 330.4 90.4 90.3 45.4 22.3 21.5 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 82.9 68.2 40.0 17.9 17.1 Private nonguaranteed 16.3 60.0 15.5 21.4 22.7 21.0 34.6 37.1 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 29.6 29.0 26.3 23.3 17.9 Public and publicly guaranteed 36.9 49.9 51.2 29.5 28.8 25.6 23.0 17.1 Official creditors 33.1 35.5 22.5 19.0 18.3 17.4 17.4 13.7 Multilateral 19.3 16.1 8.8 6.6 8.4 8.6 9.1 7.2 of which: IBRD 14.0 10.8 4.6 1.8 2.7 4.1 3.7 3.0 IDA 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Bilateral 13.8 19.3 13.7 12.4 9.9 8.8 8.3 6.5 Private creditors 3.8 14.5 28.7 10.5 10.5 8.2 5.6 3.4 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 8.8 8.7 6.7 4.1 2.5 Private nonguaranteed 5.9 6.0 0.6 0.1 0.2 0.7 0.3 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 119.6 316.7 -325.1 -140.3 -153.9 38.2 -34.3 115.8 Net flows on external debt 57.7 254.7 -272.9 -58.9 -186.6 -7.6 -23.4 108.3 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 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 88.6 81.1 90.1 61.3 94.4 142.5 142.2 138.2 Interest 15.7 17.6 18.9 18.9 19.1 18.5 17.1 15.4 Private creditors Principal 47.0 39.2 28.8 23.1 15.7 12.1 9.1 8.3 Interest 6.1 4.6 3.4 2.5 1.9 1.4 1.0 0.7 Notes: Long-term government debt and private nonguaranteed debt data for 2009 are World Bank staff estimates. Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2007, 2008, and 2009 are $8,255 millions, $5,082 millions, and $3,823 millions respectively. 203 MEXICO 1. Summary external debt data External debt stocks 104,442 165,379 150,901 167,942 162,497 192,689 203,579 192,008 Long-term external debt 81,809 112,250 131,969 161,363 152,260 168,840 179,552 168,672 Public and publicly guaranteed 75,974 93,902 81,488 108,482 96,029 105,376 113,950 99,374 Private nonguaranteed 5,835 18,348 50,481 52,881 56,231 63,464 65,602 69,299 Use of IMF credit 6,551 15,828 0 0 0 0 0 0 Short-term external debt 16,082 37,300 18,932 6,578 10,237 23,848 24,027 23,335 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 75,595 93,471 81,210 108,448 96,022 105,374 113,950 99,374 6,214 18,779 50,758 52,916 56,238 63,467 65,602 69,299 12,484 24,610 10,828 14,933 14,974 16,663 24,384 22,795 External debt flows Disbursements 14,229 42,966 34,024 33,895 32,008 37,312 44,115 34,701 Long-term external debt 12,045 29,678 32,830 33,895 32,008 37,312 44,115 34,701 IMF purchases 2,184 13,288 1,194 0 0 0 0 0 Principal repayments 4,012 15,309 44,451 34,794 44,576 27,960 30,752 29,588 Long-term external debt 2,821 14,165 38,958 34,794 44,576 27,960 30,752 29,588 IMF repurchases 1,191 1,144 5,493 0 0 0 0 0 Net flows 17,637 25,635 -15,557 -3,410 -8,910 22,963 13,542 4,421 Long-term external debt 9,224 15,513 -6,128 -899 -12,568 9,351 13,364 5,113 Short-term external debt 7,420 -2,022 -5,130 -2,511 3,658 13,612 178 -691 Interest payments 7,301 10,801 14,059 10,338 11,519 12,009 10,580 10,365 Long-term external debt 5,797 7,645 12,014 9,694 10,985 11,208 9,799 9,768 IMF charges 522 545 153 0 0 0 0 0 Short-term external debt 982 2,611 1,892 644 535 801 781 597 2. Other non-debt resource inflows Foreign direct investment 2,549 9,526 18,098 22,345 19,779 27,311 23,170 11,418 Portfolio equity 1,995 519 447 3,353 2,805 -482 -3,503 4,169 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.1 1.3 1.1 1.0 7.4 Japanese yen 6.3 8.3 7.6 1.8 1.0 0.8 0.9 4.6 Pound sterling 1.4 0.7 0.2 0.1 0.1 0.1 0.0 1.2 Swiss franc 0.6 0.4 0.0 0.2 0.2 0.2 0.1 0.5 U.S.dollars 64.3 65.2 85.0 95.7 96.9 97.4 97.8 86.2 4. Average terms of new commitments Official creditors Interest (%) 7.8 9.1 5.4 4.0 5.9 7.4 3.3 1.4 Maturity (years) 15.6 9.3 14.8 20.4 13.7 13.0 19.5 17.8 Grace period (years) 4.5 2.9 4.8 4.7 4.4 4.3 7.9 10.0 Private creditors Interest (%) 9.4 6.2 8.4 6.5 5.5 6.6 6.6 5.6 Maturity (years) 11.5 3.6 9.3 14.5 11.1 16.6 17.4 9.4 Grace period (years) 6.1 2.5 9.1 7.9 7.6 11.5 9.7 8.7 5. Major economic aggregates Gross national income (GNI) 254,084 273,409 566,409 834,560 934,016 1,007,148 1,072,940 860,849 Exports of goods, services & income 52,078 93,034 185,853 235,729 272,724 297,360 317,219 250,052 Worker remit. & comp. of employees 3,098 4,368 7,525 23,062 26,877 27,136 26,304 22,153 Imports of goods, services & income 63,504 98,571 211,589 262,416 303,120 332,174 358,569 276,808 Profit remittances on FDI 2,304 4,259 6,076 6,900 10,172 11,316 10,250 7,709 Current account balance -7,451 -1,576 -18,743 -4,549 -4,447 -8,399 -15,889 -5,238 International reserves 10,217 17,046 35,577 74,110 76,329 87,208 95,300 99,889 6. Ratios External debt stocks to exports (%) 200.5 177.8 81.2 71.2 59.6 64.8 64.2 76.8 External debt stocks to GNI (%) 41.1 60.5 26.6 20.1 17.4 19.1 19.0 22.3 Debt service to exports (%) 21.7 28.1 31.5 19.1 20.6 13.4 13.0 16.0 Short-term to external debt stocks (%) 15.4 22.6 12.5 3.9 6.3 12.4 11.8 12.2 Multilateral to external debt stocks (%) 13.7 11.3 11.4 9.8 5.1 4.7 5.2 9.0 Reserves to external debt stocks (%) 9.8 10.3 23.6 44.1 47.0 45.3 46.8 52.0 Reserves to imports (months) 1.9 2.1 2.0 3.4 3.0 3.2 3.2 4.3 204 MEXICO 7. Long-term external debt Debt outstanding and disbursed 81,809 112,250 131,969 161,363 152,260 168,840 179,552 168,672 Public and publicly guaranteed 75,974 93,902 81,488 108,482 96,029 105,376 113,950 99,374 Official creditors 22,621 38,997 20,850 18,770 10,263 11,009 12,417 21,212 Multilateral 14,302 18,636 17,238 16,478 8,210 9,114 10,648 17,232 of which: IBRD 11,030 13,823 11,444 8,881 4,211 4,540 5,867 10,143 IDA 0 0 0 0 0 0 0 0 Bilateral 8,318 20,361 3,612 2,292 2,053 1,894 1,769 3,980 Private creditors 53,353 54,904 60,639 89,712 85,766 94,368 101,534 78,161 of which: Bonds 40,100 45,287 52,754 68,548 64,025 69,217 78,240 58,890 Commercial banks 6,630 5,302 5,281 20,272 20,940 24,414 22,590 17,552 Private nonguaranteed 5,835 18,348 50,481 52,881 56,231 63,464 65,602 69,299 of which: Bonds 150 13,026 20,644 19,442 19,389 22,680 19,958 21,525 Disbursements 12,045 29,678 32,830 33,895 32,008 37,312 44,115 34,701 Public and publicly guaranteed 9,985 23,399 11,483 15,143 14,977 15,625 24,746 21,926 Official creditors 5,454 13,426 2,855 2,309 2,365 2,165 2,761 8,719 Multilateral 3,647 2,663 2,534 1,946 2,108 1,739 2,613 7,571 of which: IBRD 3,326 1,732 1,748 997 1,429 671 1,940 4,882 IDA 0 0 0 0 0 0 0 0 Bilateral 1,807 10,763 322 363 257 426 147 1,148 Private creditors 4,532 9,973 8,628 12,833 12,612 13,459 21,985 13,206 of which: Bonds 975 7,059 7,368 10,096 8,069 11,746 18,224 10,897 Commercial banks 2,552 1,699 1,096 2,665 4,439 1,591 3,665 1,728 Private nonguaranteed 2,060 6,279 21,346 18,753 17,031 21,687 19,370 12,775 of which: Bonds 150 843 3,346 6,669 4,506 5,826 931 5,067 Principal repayments 2,821 14,165 38,958 34,794 44,576 27,960 30,752 29,588 Public and publicly guaranteed 2,625 9,136 16,328 15,682 31,570 13,541 13,834 11,869 Official creditors 1,286 3,072 3,377 2,527 10,948 1,539 1,459 1,792 Multilateral 1,037 1,714 1,816 1,982 10,420 901 1,120 1,110 of which: IBRD 801 1,411 1,330 1,379 6,100 342 596 669 IDA 0 0 0 0 0 0 0 0 Bilateral 249 1,358 1,561 545 527 638 339 682 Private creditors 1,339 6,064 12,950 13,155 20,623 12,001 12,374 10,077 of which: Bonds 464 3,534 9,256 9,989 15,003 10,307 9,649 4,965 Commercial banks 185 1,623 2,870 2,983 5,414 1,482 2,542 4,296 Private nonguaranteed 196 5,029 22,630 19,112 13,005 14,420 16,918 17,719 of which: Bonds 0 610 3,552 2,645 4,703 2,536 3,247 3,500 Interest payments 5,797 7,645 12,014 9,694 10,985 11,208 9,799 9,768 Public and publicly guaranteed 5,215 6,239 7,763 6,758 6,412 6,435 5,752 4,937 Official creditors 1,378 2,659 1,553 847 912 513 458 551 Multilateral 1,005 1,291 1,275 769 832 433 394 459 of which: IBRD 751 961 890 437 461 232 200 247 IDA 0 0 0 0 0 0 0 0 Bilateral 373 1,368 278 78 80 80 64 92 Private creditors 3,838 3,579 6,210 5,912 5,500 5,922 5,294 4,386 of which: Bonds 1,112 2,906 4,739 5,474 5,047 5,532 4,957 3,774 Commercial banks 2,195 346 877 404 414 355 309 562 Private nonguaranteed 582 1,407 4,251 2,936 4,573 4,773 4,047 4,831 of which: Bonds 0 1,054 1,620 957 1,621 1,694 1,310 1,583 8. Debt stock-flow reconciliation Total change in external debt stocks 10,601 26,833 -15,837 -3,220 -5,445 30,192 10,890 -11,571 Net flows on external debt 17,637 25,635 -15,557 -3,410 -8,910 22,963 13,542 4,421 9. Debt restructurings Total amount rescheduled 36,950 0 0 0 0 0 0 0 Total amount forgiven 8,145 293 478 0 0 0 0 0 Debt buyback 0 13 6,644 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,714 1,912 1,409 1,357 1,292 1,212 1,070 966 Interest 397 343 301 266 232 201 177 158 Private creditors Principal 25,868 15,587 14,031 17,450 16,962 8,902 6,150 9,024 Interest 8,499 7,368 6,560 5,817 4,919 3,791 3,319 2,741 Notes: Short-term debt for 2009 is based on reports provided by the country. Adjustments in the stock of debt in 2009 are mainly due to repurchased of $23 billion PIDIREGAS bonds in 2007 and 2008 which were not accounted by the Government until 2009. 205 MOLDOVA 1. Summary external debt data External debt stocks .. 695 1,690 2,051 2,437 3,173 3,461 3,457 Long-term external debt .. 459 1,047 1,238 1,454 1,935 2,006 1,985 Public and publicly guaranteed .. 450 850 698 736 777 791 783 Private nonguaranteed .. 9 197 540 718 1,158 1,214 1,203 Use of IMF credit .. 230 154 95 141 160 166 154 Short-term external debt .. 6 489 718 842 1,079 1,289 1,318 interest arrears on long-term .. 5 22 56 15 21 22 38 Memorandum items .. 42 33 78 72 92 97 173 .. 450 839 698 736 777 791 783 .. 9 208 540 718 1,158 1,214 1,203 .. 169 20 24 40 96 30 70 External debt flows Disbursements .. 230 176 237 415 621 511 271 Long-term external debt .. 166 164 237 351 588 475 271 IMF purchases .. 64 12 0 64 33 36 0 Principal repayments .. 41 82 184 258 239 414 317 Long-term external debt .. 41 57 163 234 217 389 302 IMF repurchases .. 0 25 22 24 22 25 15 Net flows .. 189 560 157 322 613 305 -33 Long-term external debt .. 124 107 75 117 371 86 -31 Short-term external debt .. 0 465 104 165 231 208 13 Interest payments .. 29 68 66 76 99 87 70 Long-term external debt .. 19 46 42 38 50 56 52 IMF charges .. 10 8 3 3 2 1 1 Short-term external debt .. 0 14 21 35 47 29 16 2. Other non-debt resource inflows Foreign direct investment .. 26 128 191 233 539 708 86 Portfolio equity .. -1 3 1 2 2 11 2 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.6 8.1 8.8 8.9 10.5 Japanese yen .. 8.4 3.4 3.3 3.0 2.9 3.4 2.9 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 22.8 67.1 68.9 69.2 69.0 67.8 66.7 4. Average terms of new commitments Official creditors Interest (%) .. 6.8 0.4 1.5 0.8 3.0 0.8 1.2 Maturity (years) .. 10.4 39.7 28.9 39.4 23.8 39.6 26.6 Grace period (years) .. 3.3 10.2 7.4 10.1 6.1 10.1 8.4 Private creditors Interest (%) .. 7.0 5.9 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 6.0 3.2 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 1.5 3.2 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,724 1,310 3,347 3,809 4,819 6,653 5,793 Exports of goods, services & income .. 898 780 2,043 2,132 2,708 3,388 2,594 Worker remit. & comp. of employees .. 1 179 920 1,182 1,498 1,897 1,211 Imports of goods, services & income .. 1,038 1,089 2,844 3,335 4,602 5,998 4,253 Profit remittances on FDI .. 0 3 45 108 182 153 145 Current account balance .. -85 -98 -226 -389 -674 -987 -439 International reserves .. 257 222 597 775 1,334 1,672 1,480 6. Ratios External debt stocks to exports (%) .. 77.4 216.5 100.4 114.3 117.2 102.1 133.2 External debt stocks to GNI (%) .. 40.3 129.0 61.3 64.0 65.9 52.0 59.7 Debt service to exports (%) .. 7.9 19.2 12.2 15.7 12.5 14.8 14.9 Short-term to external debt stocks (%) .. 0.9 28.9 35.0 34.6 34.0 37.2 38.1 Multilateral to external debt stocks (%) .. 31.1 23.9 19.9 17.7 14.9 14.3 14.9 Reserves to external debt stocks (%) .. 37.0 13.2 29.1 31.8 42.0 48.3 42.8 Reserves to imports (months) .. 3.0 2.5 2.5 2.8 3.5 3.3 4.2 206 MOLDOVA 7. Long-term external debt Debt outstanding and disbursed .. 459 1,047 1,238 1,454 1,935 2,006 1,985 Public and publicly guaranteed .. 450 850 698 736 777 791 783 Official creditors .. 430 743 664 711 759 781 779 Multilateral .. 216 403 409 430 473 495 514 of which: IBRD .. 152 191 161 151 141 129 110 IDA .. 0 103 209 242 292 311 332 Bilateral .. 214 340 255 280 286 286 265 Private creditors .. 19 107 34 25 18 11 4 of which: Bonds .. 0 75 25 19 13 6 0 Commercial banks .. 4 12 7 6 5 4 4 Private nonguaranteed .. 9 197 540 718 1,158 1,214 1,203 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 166 164 237 351 588 475 271 Public and publicly guaranteed .. 159 54 26 31 47 43 41 Official creditors .. 139 52 26 31 47 43 41 Multilateral .. 81 50 25 29 47 43 41 of which: IBRD .. 50 6 0 0 0 0 0 IDA .. 0 30 24 23 39 24 21 Bilateral .. 58 1 1 3 1 0 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 .. 7 110 211 320 541 432 230 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 41 57 163 234 217 389 302 Public and publicly guaranteed .. 39 30 42 53 41 42 54 Official creditors .. 39 27 35 45 34 35 47 Multilateral .. 35 21 35 23 21 22 25 of which: IBRD .. 0 5 13 14 15 17 18 IDA .. 0 0 0 0 1 2 3 Bilateral .. 4 5 0 22 13 13 23 Private creditors .. 0 3 7 8 7 6 7 of which: Bonds .. 0 0 6 6 6 6 6 Commercial banks .. 0 0 1 1 1 0 1 Private nonguaranteed .. 2 28 120 181 176 347 248 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 19 46 42 38 50 56 52 Public and publicly guaranteed .. 19 39 22 17 18 16 20 Official creditors .. 19 28 20 15 16 15 19 Multilateral .. 11 18 10 11 12 11 8 of which: IBRD .. 8 11 6 7 8 7 4 IDA .. 0 1 2 2 2 2 2 Bilateral .. 8 10 10 3 4 5 12 Private creditors .. 0 11 2 3 2 1 1 of which: Bonds .. 0 7 2 2 2 1 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 7 20 21 33 39 32 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 193 672 108 386 736 287 -4 Net flows on external debt .. 189 560 157 322 613 305 -33 9. Debt restructurings Total amount rescheduled .. 0 246 0 88 32 31 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 64 57 57 61 53 46 33 34 Interest 17 15 13 15 13 11 10 9 Private creditors Principal 226 177 128 117 90 65 91 62 Interest 52 53 35 37 26 27 29 15 Notes: Short-term debt data are World Bank staff estimates based on government statistics. 207 MONGOLIA 1. Summary external debt data External debt stocks .. 531 896 1,327 1,440 1,682 1,833 2,212 Long-term external debt .. 472 833 1,267 1,363 1,581 1,705 1,958 Public and publicly guaranteed .. 472 833 1,267 1,361 1,576 1,657 1,817 Private nonguaranteed .. 0 0 0 3 5 48 141 Use of IMF credit .. 47 50 35 31 26 20 182 Short-term external debt .. 12 13 25 46 75 108 72 interest arrears on long-term .. 0 2 0 0 0 0 0 Memorandum items .. 4 17 21 25 26 26 10 .. 451 832 1,267 1,361 1,576 1,657 1,817 .. 22 1 0 3 5 48 141 .. 250 102 72 55 170 304 173 External debt flows Disbursements .. 101 83 91 92 167 121 438 Long-term external debt .. 101 75 91 92 167 121 273 IMF purchases .. 0 8 0 0 0 0 166 Principal repayments .. 42 28 23 31 37 46 81 Long-term external debt .. 32 22 17 25 30 41 74 IMF repurchases .. 9 6 6 6 7 5 7 Net flows .. 67 45 -73 82 160 108 322 Long-term external debt .. 68 53 74 67 137 80 199 Short-term external debt .. 8 -9 -142 21 29 33 -36 Interest payments .. 10 10 20 17 19 35 31 Long-term external debt .. 9 9 15 15 15 30 29 IMF charges .. 1 0 0 0 0 0 1 Short-term external debt .. 0 1 5 2 3 5 1 2. Other non-debt resource inflows Foreign direct investment .. 10 54 185 344 360 683 437 Portfolio equity .. 0 .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.6 8.4 9.1 8.5 8.1 Japanese yen .. 26.5 25.0 21.4 19.6 17.6 21.3 20.5 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 2.3 0.7 0.6 0.6 0.6 0.6 0.5 U.S.dollars .. 38.1 35.8 44.5 45.2 46.7 43.7 43.8 4. Average terms of new commitments Official creditors Interest (%) .. 2.2 1.2 1.1 1.0 0.9 1.0 0.7 Maturity (years) .. 35.3 31.9 31.5 32.5 33.9 39.3 30.7 Grace period (years) .. 10.1 9.3 7.9 8.5 11.1 9.8 9.7 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 8.6 0.0 8.0 Maturity (years) .. 0.0 0.0 0.0 0.0 3.0 0.0 3.0 Grace period (years) .. 0.0 0.0 0.0 0.0 3.0 0.0 3.0 5. Major economic aggregates Gross national income (GNI) .. 1,201 1,084 2,254 3,090 3,832 5,127 3,968 Exports of goods, services & income .. 511 627 1,494 2,048 2,586 3,045 2,324 Worker remit. & comp. of employees .. .. 12 180 181 194 200 194 Imports of goods, services & income .. 550 791 1,635 2,042 2,627 3,956 2,852 Profit remittances on FDI .. 18 9 41 145 126 109 121 Current account balance .. 39 -70 84 222 .. .. .. International reserves .. 158 202 333 720 1,002 657 1,327 6. Ratios External debt stocks to exports (%) .. 103.8 143.1 88.8 70.3 65.0 60.2 95.2 External debt stocks to GNI (%) .. 44.2 82.7 58.9 46.6 43.9 35.7 55.8 Debt service to exports (%) .. 10.2 6.2 2.9 2.4 2.1 2.7 4.8 Short-term to external debt stocks (%) .. 2.2 1.4 1.9 3.2 4.5 5.9 3.3 Multilateral to external debt stocks (%) .. 32.0 51.5 59.3 59.3 56.2 52.6 48.3 Reserves to external debt stocks (%) .. 29.7 22.5 25.1 50.0 59.6 35.8 60.0 Reserves to imports (months) .. 3.4 3.1 2.4 4.2 4.6 2.0 5.6 208 MONGOLIA 7. Long-term external debt Debt outstanding and disbursed .. 472 833 1,267 1,363 1,581 1,705 1,958 Public and publicly guaranteed .. 472 833 1,267 1,361 1,576 1,657 1,817 Official creditors .. 404 831 1,266 1,348 1,487 1,571 1,733 Multilateral .. 170 462 787 854 944 964 1,069 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 59 137 277 301 331 338 392 Bilateral .. 234 369 479 494 543 606 664 Private creditors .. 68 3 0 13 89 86 84 of which: Bonds .. 0 0 0 0 75 75 75 Commercial banks .. 15 1 0 0 0 0 0 Private nonguaranteed .. 0 0 0 3 5 48 141 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 101 75 91 92 167 121 273 Public and publicly guaranteed .. 101 75 91 89 165 75 212 Official creditors .. 95 75 91 71 87 75 212 Multilateral .. 58 47 48 49 52 43 113 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 8 14 14 13 20 13 55 Bilateral .. 37 28 43 22 35 32 99 Private creditors .. 6 0 0 18 79 0 0 of which: Bonds .. 0 0 0 0 75 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 0 2 2 47 61 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 32 22 17 25 30 41 74 Public and publicly guaranteed .. 32 22 17 25 30 40 61 Official creditors .. 13 19 17 20 28 37 59 Multilateral .. 0 0 6 8 11 15 17 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 2 2 3 4 4 Bilateral .. 13 19 11 12 17 22 42 Private creditors .. 19 3 0 5 3 3 2 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 1 13 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 9 9 15 15 15 30 29 Public and publicly guaranteed .. 9 9 15 15 15 24 26 Official creditors .. 5 9 15 15 15 18 19 Multilateral .. 1 4 7 8 8 9 9 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 1 2 2 2 3 2 Bilateral .. 4 5 8 7 7 9 10 Private creditors .. 4 0 0 0 0 7 7 of which: Bonds .. 0 0 0 0 0 6 6 Commercial banks .. 1 0 0 0 0 0 0 Private nonguaranteed .. 0 0 0 0 0 6 4 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 66 -18 -191 114 241 151 379 Net flows on external debt .. 67 45 -73 82 160 108 322 9. Debt restructurings Total amount rescheduled .. 0 0 0 3 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 52 60 65 66 69 73 74 74 Interest 23 24 24 24 24 23 24 23 Private creditors Principal 99 39 38 42 8 3 1 0 Interest 5 4 2 1 0 0 0 0 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. 209 MONTENEGRO 1. Summary external debt data External debt stocks .. .. .. .. 841 1,263 1,466 2,308 Long-term external debt .. .. .. .. 841 858 864 1,101 Public and publicly guaranteed .. .. .. .. 829 848 855 1,093 Private nonguaranteed .. .. .. .. 12 10 9 8 Use of IMF credit .. .. .. .. 0 0 0 0 Short-term external debt .. .. .. .. 0 405 602 1,207 interest arrears on long-term .. .. .. .. 0 0 0 0 Memorandum items .. .. .. .. 0 0 0 0 .. .. .. .. 829 848 855 1,093 .. .. .. .. 12 10 9 8 .. .. .. .. 64 193 43 305 External debt flows Disbursements .. .. .. .. 88 78 64 269 Long-term external debt .. .. .. .. 88 78 64 269 IMF purchases .. .. .. .. 0 0 0 0 Principal repayments .. .. .. .. 13 109 28 30 Long-term external debt .. .. .. .. 13 109 28 30 IMF repurchases .. .. .. .. 0 0 0 0 Net flows .. .. .. .. 75 -32 233 844 Long-term external debt .. .. .. .. 75 -32 36 239 Short-term external debt .. .. .. .. 0 0 197 605 Interest payments .. .. .. .. 28 50 40 40 Long-term external debt .. .. .. .. 28 35 28 28 IMF charges .. .. .. .. 0 0 0 0 Short-term external debt .. .. .. .. 0 15 12 12 2. Other non-debt resource inflows Foreign direct investment .. .. .. .. .. 927 887 1,339 Portfolio equity .. .. .. .. .. 5 -5 -5 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. .. 44.4 51.0 51.3 59.8 Japanese yen .. .. .. .. 0.0 0.0 0.0 0.0 Pound sterling .. .. .. .. 0.1 0.1 0.0 0.0 Swiss franc .. .. .. .. 1.8 3.9 4.0 3.3 U.S.dollars .. .. .. .. 50.6 41.4 39.3 32.4 4. Average terms of new commitments Official creditors Interest (%) .. .. .. .. 1.2 2.4 4.1 1.7 Maturity (years) .. .. .. .. 14.7 15.7 9.2 14.4 Grace period (years) .. .. .. .. 3.8 5.3 3.2 2.1 Private creditors Interest (%) .. .. .. .. 4.0 2.0 0.0 8.5 Maturity (years) .. .. .. .. 5.6 13.1 0.0 4.6 Grace period (years) .. .. .. .. 1.1 3.6 0.0 0.5 5. Major economic aggregates Gross national income (GNI) .. .. .. .. 2,735 3,692 4,531 4,090 Exports of goods, services & income .. .. .. .. .. 1,761 1,998 1,616 Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & income .. .. .. .. .. 3,202 4,179 2,785 Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves .. .. .. .. 457 689 436 573 6. Ratios External debt stocks to exports (%) .. .. .. .. .. 71.7 73.4 142.8 External debt stocks to GNI (%) .. .. .. .. 30.8 34.2 32.4 56.4 Debt service to exports (%) .. .. .. .. .. 9.1 3.4 4.4 Short-term to external debt stocks (%) .. .. .. .. .. 32.1 41.1 52.3 Multilateral to external debt stocks (%) .. .. .. .. 64.6 43.6 38.2 25.6 Reserves to external debt stocks (%) .. .. .. .. 54.4 54.5 29.7 24.8 Reserves to imports (months) .. .. .. .. .. 2.6 1.3 2.5 210 MONTENEGRO 7. Long-term external debt Debt outstanding and disbursed .. .. .. .. 841 858 864 1,101 Public and publicly guaranteed .. .. .. .. 829 848 855 1,093 Official creditors .. .. .. .. 810 832 840 893 Multilateral .. .. .. .. 543 550 560 591 of which: IBRD .. .. .. .. 345 283 269 261 IDA .. .. .. .. 47 56 71 75 Bilateral .. .. .. .. 266 281 281 302 Private creditors .. .. .. .. 19 17 15 201 of which: Bonds .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. 19 17 15 201 Private nonguaranteed .. .. .. .. 12 10 9 8 of which: Bonds .. .. .. .. 0 0 0 0 Disbursements .. .. .. .. 88 78 64 269 Public and publicly guaranteed .. .. .. .. 86 77 60 239 Official creditors .. .. .. .. 82 77 60 58 Multilateral .. .. .. .. 40 49 37 39 of which: IBRD .. .. .. .. 0 0 0 3 IDA .. .. .. .. 14 7 15 4 Bilateral .. .. .. .. 43 28 23 20 Private creditors .. .. .. .. 3 0 0 181 of which: Bonds .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. 3 0 0 181 Private nonguaranteed .. .. .. .. 2 1 4 30 of which: Bonds .. .. .. .. 0 0 0 0 Principal repayments .. .. .. .. 13 109 28 30 Public and publicly guaranteed .. .. .. .. 12 105 25 26 Official creditors .. .. .. .. 12 105 24 25 Multilateral .. .. .. .. 8 98 14 18 of which: IBRD .. .. .. .. 8 96 10 12 IDA .. .. .. .. 0 0 0 0 Bilateral .. .. .. .. 4 6 10 8 Private creditors .. .. .. .. 0 1 1 1 of which: Bonds .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. 0 1 1 1 Private nonguaranteed .. .. .. .. 0 4 3 4 of which: Bonds .. .. .. .. 0 0 0 0 Interest payments .. .. .. .. 28 35 28 28 Public and publicly guaranteed .. .. .. .. 28 34 27 28 Official creditors .. .. .. .. 27 34 27 26 Multilateral .. .. .. .. 21 28 22 19 of which: IBRD .. .. .. .. 16 22 15 10 IDA .. .. .. .. 0 0 0 1 Bilateral .. .. .. .. 6 6 5 7 Private creditors .. .. .. .. 1 1 0 2 of which: Bonds .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. 1 1 0 2 Private nonguaranteed .. .. .. .. 0 1 0 0 of which: Bonds .. .. .. .. 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. .. .. 453 422 204 842 Net flows on external debt .. .. .. .. 75 -32 233 844 9. Debt restructurings Total amount rescheduled .. .. .. .. 39 0 0 0 Total amount forgiven .. .. .. .. 0 0 0 0 Debt buyback .. .. .. .. 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 51 57 66 75 82 86 84 81 Interest 17 17 17 16 15 14 13 11 Private creditors Principal 38 41 42 41 33 4 4 4 Interest 13 12 9 6 2 1 1 0 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. Montenegro became independent in 2006 and, data are reported starting from 2007. 211 MOROCCO 1. Summary external debt data External debt stocks 25,004 23,771 20,674 16,174 17,815 20,543 20,825 23,752 Long-term external debt 23,847 23,521 19,101 15,492 16,083 18,624 19,194 21,573 Public and publicly guaranteed 23,647 23,190 17,239 12,441 13,496 15,650 16,538 19,219 Private nonguaranteed 200 331 1,862 3,051 2,588 2,975 2,656 2,354 Use of IMF credit 750 52 0 0 0 0 0 0 Short-term external debt 407 198 1,573 682 1,732 1,919 1,631 2,179 interest arrears on long-term 182 92 122 0 0 0 0 0 Memorandum items 738 138 535 3 4 2 1 0 23,583 22,944 17,077 12,381 13,425 15,565 16,446 19,134 264 577 2,023 3,111 2,659 3,059 2,748 2,438 2,406 2,583 535 2,277 2,842 3,888 1,401 3,288 External debt flows Disbursements 1,853 2,309 1,638 2,456 2,426 3,976 4,554 4,552 Long-term external debt 1,788 2,309 1,638 2,456 2,426 3,976 4,554 4,552 IMF purchases 65 0 0 0 0 0 0 0 Principal repayments 908 2,368 1,631 2,138 2,784 3,325 3,451 2,709 Long-term external debt 680 2,268 1,631 2,138 2,784 3,325 3,451 2,709 IMF repurchases 228 100 0 0 0 0 0 0 Net flows 1,032 -81 -448 832 692 838 814 2,391 Long-term external debt 1,108 41 7 318 -358 651 1,102 1,843 Short-term external debt 86 -22 -455 514 1,050 187 -288 548 Interest payments 887 1,391 1,075 590 616 694 752 702 Long-term external debt 795 1,360 948 569 540 590 709 678 IMF charges 72 7 0 0 0 0 0 0 Short-term external debt 20 24 127 22 76 104 43 24 2. Other non-debt resource inflows Foreign direct investment 165 92 221 1,620 2,366 2,807 2,466 1,333 Portfolio equity 0 20 18 64 -298 -64 148 24 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 43.4 47.2 54.6 53.0 54.4 Japanese yen 2.2 3.8 3.3 5.1 5.0 4.7 6.1 5.9 Pound sterling 0.1 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.2 0.1 0.1 0.1 0.1 0.0 0.0 0.0 U.S.dollars 40.1 27.2 37.6 23.8 19.6 12.6 11.9 10.4 4. Average terms of new commitments Official creditors Interest (%) 5.4 4.4 3.4 3.1 3.7 3.9 4.7 2.7 Maturity (years) 24.1 19.8 25.1 19.5 23.0 19.6 19.8 20.2 Grace period (years) 8.3 5.4 6.4 5.5 6.5 5.7 5.0 5.0 Private creditors Interest (%) 9.7 7.1 5.6 3.6 4.0 5.2 5.3 4.1 Maturity (years) 11.6 9.7 7.7 11.7 14.7 10.3 10.3 12.2 Grace period (years) 2.1 1.5 1.0 1.2 3.0 8.4 0.8 0.4 5. Major economic aggregates Gross national income (GNI) 24,835 31,668 36,053 58,760 64,703 74,246 87,316 89,868 Exports of goods, services & income 6,321 9,296 10,729 19,477 22,465 28,272 34,806 27,334 Worker remit. & comp. of employees 2,006 1,970 2,161 4,590 5,451 6,730 6,895 6,271 Imports of goods, services & income 8,853 12,812 13,686 23,811 27,383 36,098 48,102 39,208 Profit remittances on FDI 69 100 268 594 674 730 835 1,182 Current account balance -196 -1,186 -475 1,041 1,411 -122 -4,528 -4,570 International reserves 2,338 3,874 5,017 16,551 20,791 24,714 22,720 23,568 6. Ratios External debt stocks to exports (%) 395.5 255.7 192.7 83.0 79.3 72.7 59.8 86.9 External debt stocks to GNI (%) 100.7 75.1 57.3 27.5 27.5 27.7 23.8 26.4 Debt service to exports (%) 28.4 40.4 25.2 14.0 15.1 14.2 12.1 12.5 Short-term to external debt stocks (%) 1.6 0.8 7.6 4.2 9.7 9.3 7.8 9.2 Multilateral to external debt stocks (%) 18.7 29.1 29.5 36.3 37.2 38.4 41.2 42.2 Reserves to external debt stocks (%) 9.3 16.3 24.3 102.3 116.7 120.3 109.1 99.2 Reserves to imports (months) 3.2 3.6 4.4 8.3 9.1 8.2 5.7 7.2 212 MOROCCO 7. Long-term external debt Debt outstanding and disbursed 23,847 23,521 19,101 15,492 16,083 18,624 19,194 21,573 Public and publicly guaranteed 23,647 23,190 17,239 12,441 13,496 15,650 16,538 19,219 Official creditors 16,968 16,875 12,754 10,118 11,196 13,084 14,543 16,714 Multilateral 4,687 6,913 6,091 5,874 6,635 7,894 8,576 10,021 of which: IBRD 3,099 3,966 2,837 2,258 2,267 2,578 2,540 2,543 IDA 39 33 27 20 18 17 16 14 Bilateral 12,280 9,962 6,663 4,244 4,562 5,190 5,967 6,694 Private creditors 6,679 6,315 4,485 2,323 2,300 2,566 1,994 2,504 of which: Bonds 0 0 152 472 527 589 0 0 Commercial banks 3,963 4,234 3,300 1,466 1,470 1,745 1,749 2,259 Private nonguaranteed 200 331 1,862 3,051 2,588 2,975 2,656 2,354 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,788 2,309 1,638 2,456 2,426 3,976 4,554 4,552 Public and publicly guaranteed 1,780 2,206 980 1,658 1,850 2,714 3,093 3,469 Official creditors 1,220 1,521 631 1,562 1,531 1,810 2,800 2,869 Multilateral 781 1,008 466 1,134 1,030 1,125 1,533 1,828 of which: IBRD 426 426 138 262 176 418 242 241 IDA 0 0 0 0 0 0 0 0 Bilateral 439 513 166 427 501 685 1,267 1,040 Private creditors 560 686 349 97 320 904 292 600 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 190 224 143 74 313 903 222 567 Private nonguaranteed 8 103 658 798 575 1,262 1,461 1,083 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 680 2,268 1,631 2,138 2,784 3,325 3,451 2,709 Public and publicly guaranteed 672 2,238 1,592 1,881 1,558 1,861 1,795 1,138 Official creditors 430 1,638 926 1,303 1,063 990 1,043 965 Multilateral 276 625 550 689 591 525 592 532 of which: IBRD 202 348 307 309 330 294 262 238 IDA 1 1 1 1 1 1 1 1 Bilateral 154 1,012 376 613 472 464 450 434 Private creditors 242 600 666 578 495 872 753 172 of which: Bonds 0 0 30 41 0 0 589 0 Commercial banks 40 112 350 372 372 777 119 131 Private nonguaranteed 8 30 39 258 1,226 1,464 1,656 1,572 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 795 1,360 948 569 540 590 709 678 Public and publicly guaranteed 790 1,358 877 501 472 555 655 612 Official creditors 580 923 548 388 360 443 535 523 Multilateral 306 466 363 230 235 300 364 340 of which: IBRD 226 282 190 87 88 104 125 93 IDA 0 0 0 0 0 0 0 0 Bilateral 274 457 185 157 126 143 171 183 Private creditors 210 436 329 113 112 112 120 89 of which: Bonds 0 0 14 25 25 27 29 0 Commercial banks 45 259 228 65 70 72 80 80 Private nonguaranteed 5 2 71 68 67 34 54 66 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 -709 1,641 2,728 281 2,927 Net flows on external debt 1,032 -81 -448 832 692 838 814 2,391 9. Debt restructurings Total amount rescheduled 4,118 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,370 1,551 1,676 1,553 1,556 1,548 1,521 1,501 Interest 502 514 500 474 444 410 373 335 Private creditors Principal 663 572 576 626 609 592 190 902 Interest 161 155 142 128 112 97 82 55 213 MOZAMBIQUE 1. Summary external debt data External debt stocks 4,650 7,458 7,255 4,211 2,707 2,966 3,450 4,168 Long-term external debt 4,231 6,978 6,457 3,431 2,109 2,424 2,845 3,354 Public and publicly guaranteed 4,211 5,209 4,740 3,431 2,109 2,424 2,845 3,354 Private nonguaranteed 19 1,769 1,717 0 0 0 0 0 Use of IMF credit 74 202 219 157 10 15 15 171 Short-term external debt 345 279 578 623 588 526 591 643 interest arrears on long-term 207 250 413 535 506 397 460 477 Memorandum items 725 1,086 762 512 519 466 478 489 4,211 5,209 4,740 3,431 2,109 2,424 2,845 3,354 19 1,769 1,717 0 0 0 0 0 177 150 238 170 331 410 649 474 External debt flows Disbursements 242 267 190 334 351 343 414 668 Long-term external debt 230 267 131 329 346 338 414 515 IMF purchases 12 0 60 5 5 5 0 153 Principal repayments 41 85 64 55 16 10 14 15 Long-term external debt 41 71 64 39 16 10 14 15 IMF repurchases 0 14 0 15 0 0 0 0 Net flows 173 193 62 315 329 380 402 689 Long-term external debt 189 196 67 290 330 328 400 501 Short-term external debt -28 11 -64 36 -6 47 2 35 Interest payments 38 77 32 24 22 19 23 29 Long-term external debt 23 75 20 22 19 14 19 23 IMF charges 0 1 1 0 0 0 0 0 Short-term external debt 15 1 11 2 2 4 4 5 2. Other non-debt resource inflows Foreign direct investment 9 45 139 108 154 427 592 881 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.4 5.9 6.4 6.6 6.6 Japanese yen 1.8 1.8 1.8 1.2 2.0 2.0 2.1 1.0 Pound sterling 2.4 2.1 2.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 52.8 60.4 69.0 69.2 63.5 59.1 58.1 56.3 4. Average terms of new commitments Official creditors Interest (%) 1.3 0.9 0.8 0.7 0.7 0.8 1.1 1.3 Maturity (years) 34.8 36.8 46.7 38.1 42.2 37.5 36.4 33.5 Grace period (years) 9.2 9.3 12.9 10.1 9.6 9.7 13.1 8.2 Private creditors Interest (%) 9.0 0.0 0.0 0.0 4.9 5.7 0.0 0.0 Maturity (years) 4.9 0.0 0.0 0.0 11.2 11.5 0.0 12.8 Grace period (years) 2.9 0.0 0.0 0.0 1.7 2.0 0.0 2.8 5. Major economic aggregates Gross national income (GNI) 2,320 2,069 4,017 6,192 6,462 7,480 9,222 9,696 Exports of goods, services & income 300 470 769 2,186 2,927 3,064 3,375 2,629 Worker remit. & comp. of employees 70 59 37 57 80 99 116 111 Imports of goods, services & income 1,164 1,254 1,763 3,350 4,201 4,452 5,407 4,564 Profit remittances on FDI 0 0 0 284 471 554 544 84 Current account balance -415 -445 -764 -761 -773 -785 -1,179 -1,171 International reserves 232 195 742 1,103 1,216 1,524 1,661 .. 6. Ratios External debt stocks to exports (%) 1,550.9 1,585.6 943.7 192.6 92.5 96.8 102.2 158.6 External debt stocks to GNI (%) 200.4 360.6 180.6 68.0 41.9 39.6 37.4 43.0 Debt service to exports (%) 26.2 34.5 12.5 3.6 1.3 0.9 1.1 1.6 Short-term to external debt stocks (%) 7.4 3.7 8.0 14.8 21.7 17.7 17.1 15.4 Multilateral to external debt stocks (%) 10.0 17.1 15.2 55.6 37.5 45.5 49.1 47.9 Reserves to external debt stocks (%) 5.0 2.6 10.2 26.2 44.9 51.4 48.1 .. Reserves to imports (months) 2.4 1.9 5.1 4.0 3.5 4.1 3.7 .. 214 MOZAMBIQUE 7. Long-term external debt Debt outstanding and disbursed 4,231 6,978 6,457 3,431 2,109 2,424 2,845 3,354 Public and publicly guaranteed 4,211 5,209 4,740 3,431 2,109 2,424 2,845 3,354 Official creditors 3,560 5,163 4,730 3,429 2,108 2,415 2,838 3,326 Multilateral 464 1,277 1,106 2,341 1,014 1,349 1,693 1,996 of which: IBRD 0 0 0 0 0 0 0 0 IDA 268 890 760 1,575 655 902 1,149 1,356 Bilateral 3,097 3,886 3,624 1,088 1,093 1,066 1,145 1,330 Private creditors 651 46 11 2 2 9 7 28 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 147 7 0 0 0 0 0 0 Private nonguaranteed 19 1,769 1,717 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 230 267 131 329 346 338 414 515 Public and publicly guaranteed 210 231 131 329 346 338 414 515 Official creditors 186 231 131 329 346 332 413 492 Multilateral 95 219 128 327 341 319 358 295 of which: IBRD 0 0 0 0 0 0 0 0 IDA 74 160 97 227 223 212 255 199 Bilateral 91 11 3 3 5 13 55 197 Private creditors 24 0 0 0 0 6 2 23 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 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 39 16 10 14 15 Public and publicly guaranteed 29 67 34 18 16 10 14 15 Official creditors 23 58 33 18 16 10 11 12 Multilateral 9 13 18 12 11 5 7 8 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 2 5 3 0 0 2 Bilateral 13 45 15 7 5 4 4 4 Private creditors 7 9 1 0 0 0 3 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 3 0 1 0 0 0 0 0 Private nonguaranteed 12 3 30 21 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 23 75 20 22 19 14 19 23 Public and publicly guaranteed 22 74 20 22 19 14 19 23 Official creditors 17 71 20 22 19 14 19 23 Multilateral 7 12 9 18 15 10 15 19 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 6 4 12 9 6 8 9 Bilateral 10 59 11 4 4 4 4 4 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 34 -318 -1,504 259 485 718 Net flows on external debt 173 193 62 315 329 380 402 689 9. Debt restructurings Total amount rescheduled 386 66 0 0 0 14 0 0 Total amount forgiven 1,174 323 113 29 1,892 139 3 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 158 157 169 51 73 71 77 91 Interest 39 37 34 32 31 31 30 29 Private creditors Principal 6 7 8 8 8 8 8 6 Interest 2 2 2 2 1 1 1 0 Notes: Mozambique was granted debt relief effective in 2006 under MDRI. 215 MYANMAR 1. Summary external debt data External debt stocks 4,695 5,771 5,975 7,012 7,262 8,237 8,002 8,186 Long-term external debt 4,466 5,378 5,287 5,515 5,609 6,221 6,121 6,320 Public and publicly guaranteed 4,466 5,378 5,287 5,515 5,609 6,221 6,121 6,320 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 229 393 688 1,496 1,653 2,016 1,881 1,866 interest arrears on long-term 200 352 490 757 803 953 950 1,009 Memorandum items 376 1,359 1,784 2,905 3,118 3,743 3,840 4,147 4,390 5,271 5,193 5,414 5,508 6,102 6,000 6,193 76 107 94 101 101 118 121 127 42 118 0 0 0 0 0 0 External debt flows Disbursements 122 86 14 1 0 1 1 0 Long-term external debt 122 86 14 1 0 1 1 0 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 46 180 22 25 9 11 10 9 Long-term external debt 44 180 22 25 9 11 10 9 IMF repurchases 2 0 0 0 0 0 0 0 Net flows 91 -74 33 -36 102 203 -142 -83 Long-term external debt 78 -95 -7 -24 -9 -10 -10 -9 Short-term external debt 14 20 41 -12 111 213 -132 -74 Interest payments 15 70 14 46 55 42 23 20 Long-term external debt 13 68 2 1 1 2 2 2 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 2 2 12 44 54 40 21 18 2. Other non-debt resource inflows Foreign direct investment 163 280 258 237 279 258 283 323 Portfolio equity 0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.0 11.9 12.6 10.6 10.3 Japanese yen 46.8 52.3 44.9 45.4 44.5 47.2 48.9 49.8 Pound sterling 1.7 1.3 1.2 1.4 1.5 1.4 1.0 1.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 24.3 22.6 35.4 33.5 33.3 30.3 30.6 29.9 4. Average terms of new commitments Official creditors Interest (%) 1.5 2.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 16.7 33.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 5.2 24.4 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 3.5 0.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 11.6 6.4 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.1 1.8 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. .. .. .. .. Exports of goods, services & income 322 1,323 2,175 4,102 4,932 .. .. .. Worker remit. & comp. of employees 6 81 104 131 116 125 150 148 Imports of goods, services & income 797 2,146 2,662 3,689 4,252 .. .. .. Profit remittances on FDI 147 0 137 1,402 1,317 .. .. .. Current account balance -436 -261 -212 588 802 .. .. .. International reserves 410 651 286 889 1,383 .. .. .. 6. Ratios External debt stocks to exports (%) 1,459.9 436.3 274.7 170.9 147.2 .. .. .. External debt stocks to GNI (%) .. .. .. .. .. .. .. .. Debt service to exports (%) 18.8 18.9 1.7 1.7 1.3 .. .. .. Short-term to external debt stocks (%) 4.9 6.8 11.5 21.3 22.8 24.5 23.5 22.8 Multilateral to external debt stocks (%) 26.3 23.1 19.2 17.5 17.3 15.7 16.4 16.4 Reserves to external debt stocks (%) 8.7 11.3 4.8 12.7 19.0 .. .. .. Reserves to imports (months) 6.2 3.6 1.3 2.9 3.9 .. .. .. 216 MYANMAR 7. Long-term external debt Debt outstanding and disbursed 4,466 5,378 5,287 5,515 5,609 6,221 6,121 6,320 Public and publicly guaranteed 4,466 5,378 5,287 5,515 5,609 6,221 6,121 6,320 Official creditors 4,216 5,011 4,262 4,568 4,646 5,218 5,155 5,345 Multilateral 1,234 1,331 1,148 1,228 1,253 1,290 1,311 1,341 of which: IBRD 0 0 0 0 0 0 0 0 IDA 716 777 684 752 776 793 770 777 Bilateral 2,982 3,680 3,114 3,340 3,393 3,928 3,845 4,004 Private creditors 250 367 1,026 947 963 1,002 966 976 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 14 1 0 1 1 0 Public and publicly guaranteed 122 86 14 1 0 1 1 0 Official creditors 119 17 12 1 0 1 1 0 Multilateral 68 0 1 0 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 0 1 0 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 22 25 9 11 10 9 Public and publicly guaranteed 44 180 22 25 9 11 10 9 Official creditors 33 147 2 8 8 11 10 9 Multilateral 15 25 2 2 2 2 1 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 6 6 9 9 8 Private creditors 11 34 20 17 1 1 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 13 68 2 1 1 2 2 2 Public and publicly guaranteed 13 68 2 1 1 2 2 2 Official creditors 10 66 0 1 1 2 2 2 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 1 1 2 2 2 Private creditors 2 2 2 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 504 -785 -29 -471 250 975 -236 184 Net flows on external debt 91 -74 33 -36 102 203 -142 -83 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 185 162 152 137 120 108 74 98 Interest 21 18 15 13 11 10 9 8 Private creditors Principal 546 0 0 0 0 0 0 0 Interest 10 0 0 0 0 0 0 0 Notes: Fiscal year-end for external debt data is March. Data on long-term public and publicly guaranteed debt are World Bank staff estimates based on the original terms of the loans. 217 NEPAL 1. Summary external debt data External debt stocks 1,627 2,410 2,867 3,180 3,392 3,602 3,685 3,683 Long-term external debt 1,559 2,339 2,826 3,112 3,268 3,468 3,551 3,563 Public and publicly guaranteed 1,559 2,339 2,826 3,112 3,268 3,468 3,551 3,563 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 44 48 12 20 43 79 77 76 Short-term external debt 24 23 29 47 81 55 57 44 interest arrears on long-term 4 2 0 0 0 0 0 0 Memorandum items 6 8 0 0 0 0 0 0 1,553 2,338 2,826 3,112 3,268 3,468 3,551 3,563 5 0 0 0 0 0 0 0 238 89 86 195 166 131 84 183 External debt flows Disbursements 168 164 154 192 184 175 103 127 Long-term external debt 168 164 154 192 163 141 103 127 IMF purchases 0 0 0 0 21 33 0 0 Principal repayments 40 53 71 85 105 113 127 143 Long-term external debt 28 45 67 85 105 113 127 140 IMF repurchases 12 8 4 0 0 0 0 2 Net flows 130 71 69 118 113 36 -21 -29 Long-term external debt 140 119 87 107 58 29 -23 -14 Short-term external debt 2 -40 -14 11 34 -26 2 -13 Interest payments 28 32 31 32 34 35 35 34 Long-term external debt 24 29 28 30 30 30 34 32 IMF charges 2 0 0 0 0 0 0 0 Short-term external debt 2 2 3 2 4 4 1 1 2. Other non-debt resource inflows Foreign direct investment 6 .. 0 2 -7 6 1 38 Portfolio equity 0 0 0 .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.1 2.1 2.1 1.7 1.6 Japanese yen 8.5 11.3 9.2 8.9 7.7 7.1 8.0 7.1 Pound sterling 0.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.0 44.0 38.6 43.6 44.2 43.5 42.5 42.3 4. Average terms of new commitments Official creditors Interest (%) 0.9 3.5 1.4 1.1 1.3 1.9 0.6 0.8 Maturity (years) 38.5 29.8 31.4 34.6 24.6 25.2 30.7 37.1 Grace period (years) 10.3 7.9 8.1 8.7 8.1 6.3 9.8 9.8 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 27.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 8.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,640 4,407 5,514 8,153 9,144 10,388 12,737 12,829 Exports of goods, services & income 447 1,072 1,354 1,423 1,393 1,661 1,946 1,703 Worker remit. & comp. of employees .. 57 111 1,212 1,453 1,734 2,727 2,986 Imports of goods, services & income 845 1,659 1,825 2,803 3,030 3,743 4,456 5,139 Profit remittances on FDI 0 0 0 57 56 54 44 9 Current account balance -289 -356 -131 153 150 6 733 -10 International reserves 354 646 987 1,565 .. .. .. .. 6. Ratios External debt stocks to exports (%) 363.7 224.7 211.7 223.4 243.6 216.9 189.4 216.3 External debt stocks to GNI (%) 44.7 54.7 52.0 39.0 37.1 34.7 28.9 28.7 Debt service to exports (%) 15.2 7.9 7.5 8.2 9.9 8.9 8.3 10.4 Short-term to external debt stocks (%) 1.5 0.9 1.0 1.5 2.4 1.5 1.5 1.2 Multilateral to external debt stocks (%) 78.0 81.0 85.7 86.1 86.0 86.8 86.5 87.2 Reserves to external debt stocks (%) 21.8 26.8 34.4 49.2 .. .. .. .. Reserves to imports (months) 5.0 4.7 6.5 6.7 .. .. .. .. 218 NEPAL 7. Long-term external debt Debt outstanding and disbursed 1,559 2,339 2,826 3,112 3,268 3,468 3,551 3,563 Public and publicly guaranteed 1,559 2,339 2,826 3,112 3,268 3,468 3,551 3,563 Official creditors 1,461 2,281 2,821 3,108 3,264 3,464 3,547 3,559 Multilateral 1,268 1,952 2,457 2,737 2,918 3,126 3,187 3,211 of which: IBRD 0 0 0 0 0 0 0 0 IDA 667 1,023 1,132 1,396 1,468 1,524 1,507 1,483 Bilateral 193 329 364 370 346 338 360 349 Private creditors 97 58 5 5 5 5 4 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 168 164 154 192 163 141 103 127 Public and publicly guaranteed 168 164 154 192 163 141 103 127 Official creditors 166 164 154 192 163 141 103 127 Multilateral 146 151 142 86 157 135 102 104 of which: IBRD 0 0 0 0 0 0 0 0 IDA 68 82 49 33 43 35 31 7 Bilateral 20 13 11 106 6 6 2 23 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 85 105 113 127 140 Public and publicly guaranteed 28 45 67 85 105 113 127 140 Official creditors 13 40 59 85 104 112 126 140 Multilateral 10 24 37 61 68 81 93 106 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 7 16 30 31 34 39 41 Bilateral 3 16 22 24 36 32 33 34 Private creditors 14 5 8 1 0 1 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 30 30 30 34 32 Public and publicly guaranteed 24 29 28 30 30 30 34 32 Official creditors 14 24 27 30 30 30 34 32 Multilateral 10 17 22 26 25 26 29 28 of which: IBRD 0 0 0 0 0 0 0 0 IDA 5 7 8 12 11 11 12 11 Bilateral 4 8 5 4 5 4 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 -177 213 210 83 -2 Net flows on external debt 130 71 69 118 113 36 -21 -29 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 148 157 161 168 176 182 182 186 Interest 45 45 45 44 43 41 40 39 Private creditors Principal 1 1 1 1 1 1 0 0 Interest 0 0 0 0 0 0 0 0 219 NICARAGUA 1. Summary external debt data External debt stocks 10,751 10,396 6,742 4,931 4,109 3,696 4,228 4,420 Long-term external debt 8,319 8,572 5,661 4,190 3,428 2,809 3,398 3,554 Public and publicly guaranteed 8,319 8,572 5,380 3,899 3,196 2,147 2,230 2,461 Private nonguaranteed 0 0 281 292 232 662 1,168 1,093 Use of IMF credit 0 39 169 201 63 85 111 150 Short-term external debt 2,432 1,785 912 540 617 803 719 716 interest arrears on long-term 1,693 1,475 791 364 438 467 472 484 Memorandum items 2,464 3,230 900 550 558 482 465 458 8,319 8,572 5,435 3,899 3,196 2,145 2,230 2,461 0 0 226 292 232 664 1,168 1,093 447 361 185 144 566 64 241 252 External debt flows Disbursements 577 277 537 287 306 932 971 548 Long-term external debt 577 277 511 287 245 914 942 511 IMF purchases 0 0 27 0 61 18 29 37 Principal repayments 4 203 189 118 107 329 308 376 Long-term external debt 4 190 183 110 107 329 308 376 IMF repurchases 0 13 5 9 0 0 0 0 Net flows 593 88 351 211 202 760 574 156 Long-term external debt 572 87 327 177 138 585 634 135 Short-term external debt 21 13 3 43 3 157 -89 -15 Interest payments 11 85 98 53 58 77 107 116 Long-term external debt 5 76 91 45 50 64 97 107 IMF charges 0 1 1 0 0 0 0 1 Short-term external debt 6 8 7 8 8 13 9 8 2. Other non-debt resource inflows Foreign direct investment 1 89 267 241 287 382 626 434 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.5 1.3 3.8 4.1 4.7 Japanese yen 0.0 1.3 2.3 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 U.S.dollars 79.9 72.8 71.0 80.9 76.3 84.9 84.7 85.2 4. Average terms of new commitments Official creditors Interest (%) 4.4 2.3 1.6 1.2 3.0 1.9 2.7 4.1 Maturity (years) 12.4 32.2 36.9 33.5 27.4 25.0 32.2 33.6 Grace period (years) 1.8 8.4 9.6 8.9 7.8 5.9 10.3 6.4 Private creditors Interest (%) 9.4 7.4 0.7 0.0 0.0 0.0 0.0 0.0 Maturity (years) 4.9 9.0 39.9 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.4 1.0 10.5 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 988 2,821 3,735 4,723 5,139 5,484 6,205 5,800 Exports of goods, services & income 404 669 1,133 1,985 2,419 2,757 2,960 2,863 Worker remit. & comp. of employees .. 75 320 616 698 740 818 768 Imports of goods, services & income 911 1,529 2,385 3,577 4,133 4,832 5,541 4,722 Profit remittances on FDI 0 29 69 82 85 93 113 121 Current account balance -305 -722 -842 -734 -710 -1,001 -1,513 .. International reserves 166 142 492 728 922 1,103 1,141 1,573 6. Ratios External debt stocks to exports (%) 2,661.1 1,554.6 595.3 248.4 169.8 134.1 142.9 154.4 External debt stocks to GNI (%) 1,088.4 368.6 180.5 104.4 79.9 67.4 68.1 76.2 Debt service to exports (%) 3.9 43.1 25.3 8.6 6.8 14.7 14.0 17.2 Short-term to external debt stocks (%) 22.6 17.2 13.5 11.0 15.0 21.7 17.0 16.2 Multilateral to external debt stocks (%) 8.7 14.1 31.6 56.7 50.5 30.3 28.8 32.7 Reserves to external debt stocks (%) 1.5 1.4 7.3 14.8 22.4 29.8 27.0 35.6 Reserves to imports (months) 2.2 1.1 2.5 2.4 2.7 2.7 2.5 4.0 220 NICARAGUA 7. Long-term external debt Debt outstanding and disbursed 8,319 8,572 5,661 4,190 3,428 2,809 3,398 3,554 Public and publicly guaranteed 8,319 8,572 5,380 3,899 3,196 2,147 2,230 2,461 Official creditors 6,774 7,562 5,164 3,826 3,123 2,141 2,227 2,457 Multilateral 940 1,464 2,127 2,797 2,074 1,121 1,218 1,448 of which: IBRD 239 65 5 0 0 0 0 0 IDA 60 276 654 1,136 256 321 347 418 Bilateral 5,833 6,098 3,037 1,029 1,049 1,020 1,009 1,010 Private creditors 1,545 1,010 216 72 73 5 4 4 of which: Bonds 0 524 0 0 0 0 0 0 Commercial banks 1,305 383 188 55 55 0 0 0 Private nonguaranteed 0 0 281 292 232 662 1,168 1,093 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 577 277 511 287 245 914 942 511 Public and publicly guaranteed 577 277 226 226 245 360 180 270 Official creditors 554 258 220 226 245 360 180 270 Multilateral 7 177 172 215 220 330 128 245 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 18 87 63 61 53 28 67 Bilateral 546 80 48 11 25 30 52 25 Private creditors 23 20 6 0 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 61 0 554 763 241 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 4 190 183 110 107 329 308 376 Public and publicly guaranteed 4 190 70 63 48 214 51 61 Official creditors 1 89 61 63 48 197 51 61 Multilateral 1 47 36 21 27 169 21 25 of which: IBRD 1 15 5 0 0 0 0 0 IDA 0 1 2 0 0 0 0 0 Bilateral 1 42 26 41 21 28 30 36 Private creditors 3 101 8 0 0 17 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 96 5 0 0 17 0 0 Private nonguaranteed 0 0 114 47 59 115 257 315 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 5 76 91 45 50 64 97 107 Public and publicly guaranteed 5 76 78 44 48 45 38 37 Official creditors 4 72 76 44 48 45 38 37 Multilateral 1 33 64 27 32 28 23 24 of which: IBRD 1 6 1 0 0 0 0 0 IDA 0 2 5 7 4 2 3 3 Bilateral 3 39 12 17 16 18 15 13 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 2 2 19 59 70 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 -45 -85 -823 -412 532 192 Net flows on external debt 593 88 351 211 202 760 574 156 9. Debt restructurings Total amount rescheduled 30 263 149 1 2 0 0 22 Total amount forgiven 0 2,273 35 167 1,230 1,298 56 16 Debt buyback 0 89 0 0 0 17 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 87 83 87 89 87 94 100 106 Interest 39 40 41 41 40 39 37 35 Private creditors Principal 295 208 186 110 88 66 55 44 Interest 48 36 24 18 13 9 5 3 Notes: Nicaragua was granted debt relief effective in 2006 under MDRI. 221 NIGER 1. Summary external debt data External debt stocks 1757.6 1604.0 1708.4 2017.4 829.0 925.3 928.3 991.0 Long-term external debt 1519.1 1480.3 1562.6 1849.3 755.2 846.9 858.7 915.9 Public and publicly guaranteed 1258.1 1346.9 1494.6 1816.7 729.2 827.3 845.6 909.3 Private nonguaranteed 261.0 133.4 68.0 32.6 26.1 19.5 13.0 6.5 Use of IMF credit 84.9 52.1 74.0 127.6 26.5 40.1 50.7 56.7 Short-term external debt 153.6 71.6 71.9 40.5 47.3 38.3 19.0 18.4 interest arrears on long-term 31.3 52.9 59.6 37.5 38.3 38.3 19.0 18.4 Memorandum items 79.7 74.3 96.7 51.9 45.5 49.2 66.3 57.7 1255.4 1346.9 1494.6 1816.7 729.2 827.3 845.6 909.3 263.8 133.4 68.0 32.6 26.1 19.5 13.0 6.5 56.3 8.3 64.3 131.5 188.2 51.9 101.3 68.6 External debt flows Disbursements 147.8 28.3 87.3 152.3 125.9 91.8 109.5 111.2 Long-term external debt 138.7 28.3 76.1 134.9 117.3 79.9 97.6 106.2 IMF purchases 9.2 0.0 11.2 17.4 8.6 11.9 11.9 5.1 Principal repayments 62.8 41.1 15.8 26.8 159.8 16.8 18.4 35.8 Long-term external debt 47.2 30.9 14.0 21.5 45.7 16.8 18.4 35.8 IMF repurchases 15.5 10.2 1.8 5.3 114.1 0.0 0.0 0.0 Net flows 123.3 -9.0 51.5 122.4 -27.9 66.0 91.1 75.4 Long-term external debt 91.5 -2.6 62.1 113.4 71.6 63.1 79.2 70.3 Short-term external debt 38.3 3.8 -20.0 -3.0 6.0 -9.0 0.0 0.0 Interest payments 36.0 14.7 10.2 13.5 10.6 9.6 7.1 8.8 Long-term external debt 23.3 12.5 8.2 12.8 10.1 9.2 6.9 8.5 IMF charges 3.5 1.1 0.3 0.4 0.1 0.2 0.2 0.3 Short-term external debt 9.1 1.0 1.7 0.2 0.4 0.3 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 40.8 7.2 8.4 44.0 50.5 129.0 565.9 738.9 Portfolio equity .. .. 0.5 0.6 0.0 -0.5 1.5 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.1 1.2 0.5 0.5 0.8 Japanese yen 1.3 4.4 1.7 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.7 1.0 1.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 27.0 36.8 46.7 57.6 47.4 47.2 47.0 45.6 4. Average terms of new commitments Official creditors Interest (%) 1.9 0.6 0.7 0.9 0.8 1.6 1.3 0.8 Maturity (years) 31.9 33.5 36.5 34.9 36.7 28.3 36.9 34.8 Grace period (years) 9.2 8.4 9.4 8.8 9.5 7.7 9.2 8.8 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2423.4 1830.1 1781.9 3396.6 3647.0 4245.2 5337.5 5281.0 Exports of goods, services & income 553.2 327.1 333.7 602.2 640.5 807.1 1004.8 1000.4 Worker remit. & comp. of employees 13.9 7.7 14.4 66.4 78.1 79.4 79.3 79.2 Imports of goods, services & income 802.9 510.3 485.1 1095.4 1117.6 1343.6 1936.4 2360.1 Profit remittances on FDI 22.6 3.8 1.9 20.9 12.5 28.2 23.2 .. Current account balance -235.9 -151.7 -104.1 -311.5 -313.7 -351.3 .. .. International reserves 226.5 94.7 80.4 249.5 370.9 593.0 705.2 655.5 6. Ratios External debt stocks to exports (%) 317.7 490.3 512.0 335.0 129.4 114.6 92.4 99.1 External debt stocks to GNI (%) 72.5 87.6 95.9 59.4 22.7 21.8 17.4 18.8 Debt service to exports (%) 17.8 17.1 7.8 6.7 26.6 3.3 2.5 4.5 Short-term to external debt stocks (%) 8.7 4.5 4.2 2.0 5.7 4.1 2.0 1.9 Multilateral to external debt stocks (%) 40.3 55.0 60.3 78.9 62.5 66.3 67.4 69.1 Reserves to external debt stocks (%) 12.9 5.9 4.7 12.4 44.7 64.1 76.0 66.1 Reserves to imports (months) 3.4 2.2 2.0 2.7 4.0 5.3 4.4 3.3 222 NIGER 7. Long-term external debt Debt outstanding and disbursed 1519.1 1480.3 1562.6 1849.3 755.2 846.9 858.7 915.9 Public and publicly guaranteed 1258.1 1346.9 1494.6 1816.7 729.2 827.3 845.6 909.3 Official creditors 1146.8 1346.9 1494.6 1816.7 729.2 827.3 845.6 909.3 Multilateral 708.8 881.8 1029.8 1591.7 518.1 613.4 625.4 684.4 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 1080.1 188.9 234.9 248.1 265.7 Bilateral 438.0 465.2 464.8 224.9 211.0 213.9 220.2 224.9 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 32.6 26.1 19.5 13.0 6.5 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 138.7 28.3 76.1 134.9 117.3 79.9 97.6 106.2 Public and publicly guaranteed 95.7 28.3 76.1 134.9 117.3 79.9 97.6 106.2 Official creditors 90.3 28.3 76.1 134.9 117.3 79.9 97.6 106.2 Multilateral 69.5 27.9 76.1 133.0 111.7 79.9 79.4 97.9 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 65.5 54.9 36.7 15.1 15.9 Bilateral 20.9 0.4 0.0 1.9 5.5 0.0 18.2 8.3 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 21.5 45.7 16.8 18.4 35.8 Public and publicly guaranteed 10.2 7.1 12.0 15.0 39.2 10.3 11.9 29.3 Official creditors 8.6 7.1 12.0 15.0 39.2 10.3 11.9 29.3 Multilateral 6.7 6.9 10.4 13.4 25.7 9.8 10.9 27.4 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 0.9 0.7 0.0 0.1 0.1 Bilateral 1.9 0.2 1.6 1.6 13.5 0.5 1.0 2.0 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 12.8 10.1 9.2 6.9 8.5 Public and publicly guaranteed 7.2 7.0 8.1 11.2 8.2 7.5 6.1 8.2 Official creditors 7.1 7.0 8.1 11.2 8.2 7.5 6.1 8.2 Multilateral 5.7 6.6 6.6 11.0 7.7 6.5 4.9 7.2 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 6.0 3.8 1.8 1.3 1.9 Bilateral 1.4 0.4 1.4 0.3 0.5 1.0 1.2 1.0 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 16.1 5.5 0.2 1.5 1.9 1.7 0.8 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 229.7 61.8 4.9 1.6 -1188.4 96.3 3.1 62.7 Net flows on external debt 123.3 -9.0 51.5 122.4 -27.9 66.0 91.1 75.4 9. Debt restructurings Total amount rescheduled 28.7 4.9 28.0 0.0 0.3 0.0 0.0 0.0 Total amount forgiven 0.4 3.5 0.0 27.6 1205.8 1.4 41.8 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 50.0 45.1 51.8 31.7 31.8 36.4 40.6 43.2 Interest 9.8 10.0 10.2 10.2 10.0 9.8 9.4 8.9 Private creditors Principal 6.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term private nonguaranteed debt are World Bank staff estimates. Niger was granted debt relief effective in 2006 under MDRI. 223 NIGERIA 1. Summary external debt data External debt stocks 33,439 34,092 31,355 22,034 7,634 8,628 11,509 7,846 Long-term external debt 31,935 28,441 30,235 20,198 3,744 3,684 4,053 4,332 Public and publicly guaranteed 31,545 28,140 30,020 20,198 3,744 3,509 3,878 4,157 Private nonguaranteed 391 301 215 0 0 175 175 175 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 1,504 5,651 1,120 1,836 3,890 4,944 7,456 3,514 interest arrears on long-term 1,040 4,717 44 3 0 0 0 0 Memorandum items 1,091 8,102 117 3 0 0 0 0 31,545 28,077 29,964 20,169 3,720 3,491 3,864 4,150 391 365 271 29 24 194 189 182 2,192 0 86 706 507 777 968 985 External debt flows Disbursements 927 433 153 353 743 689 385 519 Long-term external debt 927 433 153 353 743 689 385 519 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 1,180 918 1,091 3,862 6,441 914 338 339 Long-term external debt 1,180 918 1,091 3,862 6,441 914 338 339 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -34 -559 -696 -3,027 -3,640 828 2,559 -3,762 Long-term external debt -253 -486 -937 -3,510 -5,697 -226 47 180 Short-term external debt 219 -73 241 482 2,057 1,054 2,512 -3,942 Interest payments 2,155 915 754 5,000 373 336 253 171 Long-term external debt 2,123 859 690 4,937 259 93 104 102 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 32 56 64 64 114 243 149 69 2. Other non-debt resource inflows Foreign direct investment 588 1,079 1,140 4,983 8,825 6,033 4,876 5,787 Portfolio equity 0 0 0 751 1,769 1,447 -954 522 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 36.2 4.1 3.2 2.9 2.2 Japanese yen 8.2 12.6 2.3 9.9 0.0 0.0 0.0 0.0 Pound sterling 11.8 9.9 1.5 17.2 0.3 0.2 0.2 0.1 Swiss franc 0.7 0.6 0.0 1.9 0.0 0.0 0.0 0.0 U.S.dollars 38.8 29.6 85.1 27.2 59.2 58.1 61.9 61.3 4. Average terms of new commitments Official creditors Interest (%) 5.8 0.0 1.0 0.7 1.6 0.8 0.8 0.8 Maturity (years) 22.4 0.0 32.9 37.6 28.2 40.7 40.2 39.5 Grace period (years) 6.1 0.0 9.7 10.3 7.1 10.1 9.9 10.0 Private creditors Interest (%) 7.9 0.0 0.0 0.0 0.0 6.0 0.0 0.0 Maturity (years) 13.1 0.0 0.0 0.0 0.0 10.4 0.0 0.0 Grace period (years) 3.7 0.0 0.0 0.0 0.0 3.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 25,585 25,888 40,256 98,881 141,275 154,068 195,113 155,303 Exports of goods, services & income 14,761 12,443 21,183 57,885 60,985 70,041 88,203 62,581 Worker remit. & comp. of employees 10 804 1,392 3,329 5,435 9,221 9,980 9,585 Imports of goods, services & income 9,858 15,820 15,383 35,773 44,057 57,075 75,323 57,669 Profit remittances on FDI 135 1,330 2,279 2,603 9,739 13,054 14,291 10,750 Current account balance 4,988 -2,578 7,427 37,264 33,872 30,829 31,624 22,889 International reserves 4,129 1,709 10,099 28,632 42,735 51,907 53,599 45,510 6. Ratios External debt stocks to exports (%) 226.5 274.0 148.0 38.1 12.5 12.3 13.0 12.5 External debt stocks to GNI (%) 130.7 131.7 77.9 22.3 5.4 5.6 5.9 5.1 Debt service to exports (%) 22.6 14.7 8.7 15.3 11.2 1.8 0.7 0.8 Short-term to external debt stocks (%) 4.5 16.6 3.6 8.3 51.0 57.3 64.8 44.8 Multilateral to external debt stocks (%) 11.2 14.5 10.5 11.5 35.2 33.7 26.1 43.2 Reserves to external debt stocks (%) 12.3 5.0 32.2 129.9 559.8 601.6 465.7 580.1 Reserves to imports (months) 5.0 1.3 7.9 9.6 11.6 10.9 8.5 9.5 224 NIGERIA 7. Long-term external debt Debt outstanding and disbursed 31,935 28,441 30,235 20,198 3,744 3,684 4,053 4,332 Public and publicly guaranteed 31,545 28,140 30,020 20,198 3,744 3,509 3,878 4,157 Official creditors 17,007 20,492 26,574 18,015 2,962 3,260 3,549 3,883 Multilateral 3,732 4,944 3,302 2,536 2,687 2,904 3,000 3,391 of which: IBRD 3,284 3,221 1,625 722 534 381 211 113 IDA 36 268 644 1,136 1,541 1,929 2,243 2,739 Bilateral 13,275 15,548 23,272 15,479 275 356 549 492 Private creditors 14,537 7,648 3,446 2,183 782 249 328 273 of which: Bonds 0 2,051 2,051 1,442 0 0 0 0 Commercial banks 5,714 0 0 11 0 0 101 83 Private nonguaranteed 391 301 215 0 0 175 175 175 of which: Bonds 0 0 0 0 0 175 175 175 Disbursements 927 433 153 353 743 689 385 519 Public and publicly guaranteed 927 433 153 353 743 514 385 519 Official creditors 642 433 153 345 502 468 385 519 Multilateral 542 433 153 286 377 386 383 519 of which: IBRD 384 189 31 0 0 0 0 0 IDA 7 86 55 265 362 335 353 497 Bilateral 100 0 0 59 125 82 2 0 Private creditors 285 0 0 8 241 45 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 0 175 0 0 of which: Bonds 0 0 0 0 0 175 0 0 Principal repayments 1,180 918 1,091 3,862 6,441 914 338 339 Public and publicly guaranteed 1,165 908 1,056 3,862 6,441 914 338 339 Official creditors 774 470 914 3,684 4,801 319 317 284 Multilateral 246 470 404 367 339 306 293 211 of which: IBRD 241 392 273 224 211 176 189 96 IDA 1 1 4 19 19 20 20 21 Bilateral 528 0 510 3,317 4,461 12 24 72 Private creditors 391 438 142 179 1,640 596 21 55 of which: Bonds 0 0 0 0 1,442 0 0 0 Commercial banks 388 0 0 3 1 0 0 18 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 4,937 259 93 104 102 Public and publicly guaranteed 2,120 840 673 4,937 259 86 87 84 Official creditors 1,300 323 516 4,717 91 80 83 71 Multilateral 262 323 190 97 86 74 62 47 of which: IBRD 243 266 103 39 33 25 17 8 IDA 0 2 5 12 14 15 17 17 Bilateral 1,038 0 326 4,620 5 7 21 24 Private creditors 820 516 157 220 168 6 4 14 of which: Bonds 0 128 128 170 143 0 0 0 Commercial banks 378 0 0 3 0 0 0 6 Private nonguaranteed 3 19 18 0 0 7 17 17 of which: Bonds 0 0 0 0 0 7 17 17 8. Debt stock-flow reconciliation Total change in external debt stocks 3,317 1,000 2,227 -15,733 -14,400 994 2,881 -3,663 Net flows on external debt -34 -559 -696 -3,027 -3,640 828 2,559 -3,762 9. Debt restructurings Total amount rescheduled 1,480 0 20,920 0 1 0 0 0 Total amount forgiven 286 95 0 7,284 10,891 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 279 238 195 194 167 92 105 125 Interest 68 58 53 49 45 43 43 42 Private creditors Principal 90 86 86 12 0 0 0 175 Interest 30 25 20 17 17 17 17 0 Notes: Long-term private nonguaranteed debt data only cover Bonds. 225 PAKISTAN 1. Summary external debt data External debt stocks 20,589 30,169 32,732 33,269 36,111 40,892 48,471 53,710 Long-term external debt 16,569 25,321 29,684 30,547 33,327 37,282 42,750 44,749 Public and publicly guaranteed 16,432 23,727 27,124 29,584 32,420 36,089 39,566 41,484 Private nonguaranteed 138 1,593 2,560 964 907 1,193 3,184 3,265 Use of IMF credit 835 1,613 1,529 1,492 1,462 1,381 4,352 7,495 Short-term external debt 3,185 3,235 1,519 1,230 1,322 2,228 1,370 1,466 interest arrears on long-term 1 0 0 0 0 0 0 0 Memorandum items 15 0 0 0 0 0 0 0 16,300 23,634 26,946 29,569 32,406 36,075 39,551 41,470 269 1,687 2,738 978 921 1,207 3,198 3,278 2,925 2,257 865 4,260 3,396 3,668 3,535 4,934 External debt flows Disbursements 1,746 3,288 1,838 2,802 3,385 3,703 6,792 7,414 Long-term external debt 1,746 3,086 1,644 2,802 3,385 3,703 3,591 4,099 IMF purchases 0 202 195 0 0 0 3,201 3,315 Principal repayments 1,071 2,013 1,870 1,698 1,439 1,525 1,899 2,430 Long-term external debt 905 1,837 1,587 1,461 1,332 1,373 1,719 2,199 IMF repurchases 166 176 282 237 107 152 180 231 Net flows 1,089 2,572 -343 1,090 2,039 3,084 4,034 5,080 Long-term external debt 841 1,249 56 1,342 2,054 2,330 1,872 1,900 Short-term external debt 414 1,297 -311 -15 92 906 -858 96 Interest payments 831 1,203 985 727 853 1,094 1,052 1,002 Long-term external debt 515 955 857 658 789 973 1,001 884 IMF charges 52 45 49 13 11 9 7 67 Short-term external debt 264 202 78 56 54 111 43 51 2. Other non-debt resource inflows Foreign direct investment 245 723 308 2,201 4,273 5,590 5,438 2,387 Portfolio equity 0 10 35 451 1,152 1,276 -270 -37 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.6 11.6 11.3 9.7 9.5 Japanese yen 13.6 15.2 16.9 17.7 16.3 15.6 18.1 17.2 Pound sterling 1.5 0.8 0.7 0.4 0.3 0.3 0.2 0.2 Swiss franc 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 U.S.dollars 35.9 31.3 41.6 41.9 44.2 44.0 43.8 45.7 4. Average terms of new commitments Official creditors Interest (%) 5.2 5.0 6.2 1.8 4.1 3.0 2.2 1.7 Maturity (years) 22.9 18.7 12.8 26.9 21.2 28.8 23.3 24.4 Grace period (years) 6.1 5.5 3.1 8.2 6.1 7.8 6.2 7.1 Private creditors Interest (%) 8.8 7.0 8.0 5.2 7.4 6.7 0.0 0.0 Maturity (years) 11.3 4.4 5.3 5.0 17.5 9.0 0.0 0.0 Grace period (years) 4.8 0.9 1.0 5.0 17.5 8.8 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 41,735 61,092 73,025 111,867 130,007 145,806 168,547 171,733 Exports of goods, services & income 6,931 10,400 10,237 19,768 21,419 23,312 26,762 22,831 Worker remit. & comp. of employees 2,006 1,712 1,075 4,280 5,121 5,998 7,039 8,720 Imports of goods, services & income 11,386 16,311 14,484 32,453 39,110 42,683 53,561 39,238 Profit remittances on FDI 53 300 429 1,871 2,580 2,974 3,203 2,556 Current account balance -1,661 -3,349 -85 -3,606 -6,750 -8,286 -15,663 .. International reserves 1,046 2,528 2,087 11,109 12,878 15,798 9,024 13,606 6. Ratios External debt stocks to exports (%) 297.1 290.1 319.7 168.3 168.6 175.4 181.1 235.2 External debt stocks to GNI (%) 49.3 49.4 44.8 29.7 27.8 28.0 28.8 31.3 Debt service to exports (%) 27.4 30.9 27.9 12.3 10.7 11.2 11.0 15.0 Short-term to external debt stocks (%) 15.5 10.7 4.6 3.7 3.7 5.4 2.8 2.7 Multilateral to external debt stocks (%) 33.5 40.4 41.2 47.8 48.8 48.7 45.5 43.8 Reserves to external debt stocks (%) 5.1 8.4 6.4 33.4 35.7 38.6 18.6 25.3 Reserves to imports (months) 1.1 1.9 1.7 4.1 4.0 4.4 2.0 4.2 226 PAKISTAN 7. Long-term external debt Debt outstanding and disbursed 16,569 25,321 29,684 30,547 33,327 37,282 42,750 44,749 Public and publicly guaranteed 16,432 23,727 27,124 29,584 32,420 36,089 39,566 41,484 Official creditors 15,717 22,631 25,074 28,323 30,361 33,277 36,630 39,097 Multilateral 6,894 12,179 13,491 15,893 17,614 19,924 22,057 23,506 of which: IBRD 1,816 3,082 3,093 2,238 2,143 2,086 1,946 1,769 IDA 2,106 3,321 3,828 6,865 7,871 9,075 9,053 10,075 Bilateral 8,823 10,452 11,583 12,430 12,747 13,353 14,573 15,591 Private creditors 714 1,097 2,051 1,261 2,059 2,812 2,936 2,387 of which: Bonds 0 150 623 1,100 1,900 2,650 2,650 2,150 Commercial banks 401 371 1,099 30 7 4 125 75 Private nonguaranteed 138 1,593 2,560 964 907 1,193 3,184 3,265 of which: Bonds 0 45 45 600 850 850 850 850 Disbursements 1,746 3,086 1,644 2,802 3,385 3,703 3,591 4,099 Public and publicly guaranteed 1,708 2,331 1,527 2,202 3,135 3,173 2,679 3,418 Official creditors 1,629 2,199 1,522 1,578 2,314 2,414 2,552 3,417 Multilateral 978 1,167 1,043 1,523 2,122 2,192 2,159 2,408 of which: IBRD 356 271 159 217 155 175 54 89 IDA 135 255 141 628 854 1,001 187 1,177 Bilateral 651 1,032 479 54 192 221 393 1,009 Private creditors 78 132 4 625 821 760 127 1 of which: Bonds 0 0 0 600 800 750 0 0 Commercial banks 8 87 0 0 0 0 125 0 Private nonguaranteed 38 755 117 600 250 530 912 681 of which: Bonds 0 0 0 600 250 0 0 0 Principal repayments 905 1,837 1,587 1,461 1,332 1,373 1,719 2,199 Public and publicly guaranteed 866 1,497 1,143 1,134 1,089 1,101 1,263 1,593 Official creditors 725 1,267 1,105 991 1,065 1,095 1,260 1,043 Multilateral 307 559 829 771 824 726 1,040 921 of which: IBRD 73 219 227 312 284 284 297 253 IDA 19 35 64 115 165 134 149 188 Bilateral 418 708 276 220 241 368 219 122 Private creditors 141 230 37 143 23 7 3 550 of which: Bonds 0 0 0 108 0 0 0 500 Commercial banks 88 138 30 15 23 3 3 50 Private nonguaranteed 39 340 445 327 243 272 456 606 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 515 955 857 658 789 973 1,001 884 Public and publicly guaranteed 505 825 641 582 710 842 854 779 Official creditors 450 759 527 531 598 668 665 618 Multilateral 247 445 383 229 256 307 316 277 of which: IBRD 126 217 182 92 107 114 88 53 IDA 15 24 29 52 56 64 77 75 Bilateral 204 313 144 303 342 361 349 341 Private creditors 54 66 114 50 112 174 189 161 of which: Bonds 0 9 61 47 110 171 184 156 Commercial banks 38 32 38 2 3 0 5 5 Private nonguaranteed 11 130 217 76 79 132 147 105 of which: Bonds 0 2 2 3 52 67 60 50 8. Debt stock-flow reconciliation Total change in external debt stocks 2,323 2,845 -1,109 -2,312 2,842 4,780 7,580 5,238 Net flows on external debt 1,089 2,572 -343 1,090 2,039 3,084 4,034 5,080 9. Debt restructurings Total amount rescheduled 0 0 918 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 1 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,544 1,544 2,111 1,682 1,754 1,820 1,836 2,159 Interest 675 666 648 621 596 568 546 514 Private creditors Principal 1,952 484 436 517 218 170 633 847 Interest 256 216 191 164 140 131 104 55 227 PANAMA 1. Summary external debt data External debt stocks 6,492 6,098 6,567 9,253 10,392 10,241 10,721 12,418 Long-term external debt 3,841 3,781 6,476 9,229 10,377 10,236 10,721 12,418 Public and publicly guaranteed 3,841 3,781 5,696 7,487 8,683 9,175 9,610 11,282 Private nonguaranteed 0 0 780 1,742 1,694 1,061 1,111 1,136 Use of IMF credit 272 111 90 24 15 5 0 0 Short-term external debt 2,378 2,207 1 0 0 0 0 0 interest arrears on long-term 978 1,608 1 0 0 0 0 0 Memorandum items 1,981 1,996 1 0 0 0 0 0 3,841 3,781 5,696 7,487 8,683 9,175 9,610 11,282 0 0 780 1,742 1,694 1,061 1,111 1,136 4 116 478 1,265 2,699 350 827 1,732 External debt flows Disbursements 6 112 724 1,595 3,029 679 704 1,890 Long-term external debt 6 99 724 1,595 3,029 679 704 1,890 IMF purchases 0 13 0 0 0 0 0 0 Principal repayments 121 172 462 1,412 2,226 181 916 190 Long-term external debt 51 133 410 1,403 2,216 171 910 190 IMF repurchases 70 39 52 10 10 10 5 0 Net flows -115 -925 262 182 804 498 -211 1,700 Long-term external debt -44 -34 314 192 814 509 -206 1,700 Short-term external debt 0 -866 0 0 0 0 0 0 Interest payments 223 144 424 655 835 730 765 791 Long-term external debt 90 101 418 653 834 730 765 791 IMF charges 16 7 7 1 1 1 0 0 Short-term external debt 117 36 0 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 136 223 624 918 2,557 1,777 2,402 1,773 Portfolio equity -1 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.0 0.0 0.0 0.0 0.0 Japanese yen 9.8 10.4 1.8 0.9 0.7 0.6 0.7 0.8 Pound sterling 0.7 0.4 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 62.2 70.8 91.9 96.5 97.4 97.9 98.1 98.4 4. Average terms of new commitments Official creditors Interest (%) 5.0 6.9 5.8 4.7 5.7 3.3 4.3 1.6 Maturity (years) 8.3 21.2 22.8 19.9 17.9 21.6 20.3 21.4 Grace period (years) 4.8 4.6 4.6 5.1 4.0 5.8 4.7 3.5 Private creditors Interest (%) 0.0 3.3 10.4 7.3 4.0 0.0 1.2 5.5 Maturity (years) 0.0 14.7 19.0 22.2 21.4 0.0 11.1 10.4 Grace period (years) 0.0 3.1 19.0 22.2 21.4 0.0 7.8 9.9 5. Major economic aggregates Gross national income (GNI) 5,051 7,542 11,007 14,340 15,859 18,483 21,605 23,661 Exports of goods, services & income 5,577 9,254 9,408 11,661 13,879 16,156 18,041 17,847 Worker remit. & comp. of employees 110 112 16 130 157 180 196 175 Imports of goods, services & income 5,588 9,878 10,258 12,925 14,579 17,816 20,956 18,061 Profit remittances on FDI 196 396 562 1,048 1,197 1,521 1,747 1,397 Current account balance 209 -471 -673 -1,022 -448 -1,407 -2,677 -4 International reserves 344 781 723 1,211 1,335 1,935 2,424 3,028 6. Ratios External debt stocks to exports (%) 116.4 65.9 69.8 79.3 74.9 63.4 59.4 69.6 External debt stocks to GNI (%) 128.5 80.9 59.7 64.5 65.5 55.4 49.6 52.5 Debt service to exports (%) 6.2 3.4 9.4 17.7 22.1 5.6 9.3 5.5 Short-term to external debt stocks (%) 36.6 36.2 0.0 .. .. .. .. .. Multilateral to external debt stocks (%) 15.5 10.0 15.5 12.0 11.2 12.0 12.5 13.1 Reserves to external debt stocks (%) 5.3 12.8 11.0 13.1 12.8 18.9 22.6 24.4 Reserves to imports (months) 0.7 0.9 0.8 1.1 1.1 1.3 1.4 2.0 228 PANAMA 7. Long-term external debt Debt outstanding and disbursed 3,841 3,781 6,476 9,229 10,377 10,236 10,721 12,418 Public and publicly guaranteed 3,841 3,781 5,696 7,487 8,683 9,175 9,610 11,282 Official creditors 1,489 1,262 1,285 1,304 1,348 1,407 1,529 1,833 Multilateral 1,006 612 1,020 1,110 1,166 1,225 1,337 1,626 of which: IBRD 462 175 283 212 185 216 271 435 IDA 0 0 0 0 0 0 0 0 Bilateral 483 650 265 194 182 182 192 207 Private creditors 2,352 2,519 4,411 6,183 7,335 7,768 8,081 9,449 of which: Bonds 260 3 4,141 6,105 7,273 7,723 7,896 9,219 Commercial banks 1,983 2,475 267 78 62 45 186 230 Private nonguaranteed 0 0 780 1,742 1,694 1,061 1,111 1,136 of which: Bonds 0 0 266 635 581 1,061 1,061 1,061 Disbursements 6 99 724 1,595 3,029 679 704 1,890 Public and publicly guaranteed 6 99 486 1,325 2,461 199 654 1,865 Official creditors 6 95 97 94 183 199 254 461 Multilateral 0 93 88 91 182 188 241 426 of which: IBRD 0 3 22 9 15 74 99 203 IDA 0 0 0 0 0 0 0 0 Bilateral 6 2 10 3 1 11 13 35 Private creditors 0 5 388 1,231 2,278 0 400 1,404 of which: Bonds 0 0 370 1,230 2,276 0 235 1,323 Commercial banks 0 5 17 1 1 0 165 81 Private nonguaranteed 0 0 238 270 569 480 50 25 of which: Bonds 0 0 0 150 300 480 0 0 Principal repayments 51 133 410 1,403 2,216 171 910 190 Public and publicly guaranteed 51 133 385 1,151 1,584 171 910 190 Official creditors 45 116 108 139 145 154 160 154 Multilateral 43 84 57 126 133 139 143 134 of which: IBRD 41 43 24 39 41 43 45 39 IDA 0 0 0 0 0 0 0 0 Bilateral 2 32 52 12 12 14 17 20 Private creditors 6 17 277 1,013 1,439 17 750 36 of which: Bonds 2 0 120 995 1,422 0 742 0 Commercial banks 1 4 156 17 18 17 9 36 Private nonguaranteed 0 0 25 251 632 0 0 0 of which: Bonds 0 0 0 0 369 0 0 0 Interest payments 90 101 418 653 834 730 765 791 Public and publicly guaranteed 90 101 365 566 746 667 702 703 Official creditors 87 59 79 59 62 70 71 72 Multilateral 85 39 68 54 58 66 66 67 of which: IBRD 27 15 21 12 11 13 13 16 IDA 0 0 0 0 0 0 0 0 Bilateral 2 20 10 5 5 5 5 5 Private creditors 3 42 286 507 684 596 630 632 of which: Bonds 0 0 264 503 680 593 625 621 Commercial banks 0 37 22 4 4 3 5 11 Private nonguaranteed 0 0 53 87 88 63 64 88 of which: Bonds 0 0 24 44 46 63 63 83 8. Debt stock-flow reconciliation Total change in external debt stocks 274 -800 -262 266 1,139 -151 480 1,697 Net flows on external debt -115 -925 262 182 804 498 -211 1,700 9. Debt restructurings Total amount rescheduled 0 5 0 0 0 0 0 0 Total amount forgiven 0 0 477 0 0 0 7 0 Debt buyback 0 0 120 0 203 0 21 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 177 179 184 191 202 191 180 168 Interest 63 59 55 50 45 40 35 30 Private creditors Principal 324 343 1,263 34 488 2,655 36 36 Interest 671 670 609 550 550 516 401 400 Notes: Long-term private nonguaranteed debt data only cover Bonds. Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2007, 2008, and 2009 are $19,052 millions, and $16,713 millions, and $16,306 millions respectively. 229 PAPUA NEW GUINEA 1. Summary external debt data External debt stocks 2,594 2,506 2,292 1,880 1,826 1,430 1,418 1,555 Long-term external debt 2,461 2,378 2,204 1,648 1,659 1,339 1,409 1,434 Public and publicly guaranteed 1,523 1,668 1,454 1,262 1,208 1,126 1,064 1,037 Private nonguaranteed 938 711 750 387 451 213 345 397 Use of IMF credit 61 50 39 0 0 0 0 0 Short-term external debt 72 78 49 232 167 91 9 121 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 1,501 1,667 1,440 1,262 1,208 1,126 1,064 1,037 960 711 764 387 451 213 345 397 247 175 319 0 53 37 133 122 External debt flows Disbursements 681 240 293 335 267 615 951 516 Long-term external debt 623 189 254 335 267 615 951 516 IMF purchases 58 51 38 0 0 0 0 0 Principal repayments 391 509 215 244 270 947 933 514 Long-term external debt 388 493 196 183 270 947 933 514 IMF repurchases 3 16 19 61 0 0 0 0 Net flows 197 -291 30 214 -68 -408 -64 115 Long-term external debt 235 -304 59 152 -3 -332 18 3 Short-term external debt -93 -21 -48 123 -65 -76 -82 112 Interest payments 162 117 90 63 56 60 42 29 Long-term external debt 156 111 85 54 46 55 40 28 IMF charges 0 1 1 1 0 0 0 0 Short-term external debt 6 5 4 9 10 5 2 1 2. Other non-debt resource inflows Foreign direct investment 155 455 96 34 -7 96 -30 424 Portfolio equity 0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.8 4.2 4.6 4.3 4.4 Japanese yen 20.4 21.3 30.1 29.8 29.0 30.0 29.4 27.4 Pound sterling 2.1 0.6 0.8 0.0 0.0 0.0 0.0 0.0 Swiss franc 1.5 0.0 0.0 0.1 0.1 0.1 0.1 0.0 U.S.dollars 27.3 19.4 21.3 33.8 36.9 36.3 38.6 39.4 4. Average terms of new commitments Official creditors Interest (%) 5.7 5.2 6.5 0.0 4.4 0.8 2.1 1.7 Maturity (years) 17.3 10.6 17.3 0.0 26.1 34.7 28.2 32.1 Grace period (years) 4.9 4.4 5.1 0.0 5.2 10.2 6.7 8.5 Private creditors Interest (%) 7.2 0.0 6.2 0.0 0.0 0.0 0.0 0.0 Maturity (years) 9.5 0.0 5.3 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.2 0.0 2.5 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,096 4,370 3,303 4,531 4,931 6,261 7,931 7,833 Exports of goods, services & income 1,487 3,014 2,369 3,606 4,594 5,231 6,237 4,633 Worker remit. & comp. of employees 5 16 7 13 13 13 13 13 Imports of goods, services & income 1,719 2,415 2,013 3,257 3,472 4,371 4,953 4,720 Profit remittances on FDI 158 409 198 475 .. .. .. .. Current account balance -76 674 351 640 .. .. .. .. International reserves 427 267 304 750 1,441 2,106 2,008 2,629 6. Ratios External debt stocks to exports (%) 174.4 83.1 96.8 52.1 39.7 27.3 22.7 33.6 External debt stocks to GNI (%) 83.8 57.3 69.4 41.5 37.0 22.8 17.9 19.9 Debt service to exports (%) 37.2 20.8 12.9 8.5 7.1 19.3 15.6 11.7 Short-term to external debt stocks (%) 2.8 3.1 2.2 12.3 9.1 6.4 0.6 7.8 Multilateral to external debt stocks (%) 29.5 37.4 36.1 44.4 44.6 52.4 50.8 46.6 Reserves to external debt stocks (%) 16.5 10.6 13.3 39.9 78.9 147.2 141.7 169.1 Reserves to imports (months) 3.0 1.3 1.8 2.8 5.0 5.8 4.9 6.7 230 PAPUA NEW GUINEA 7. Long-term external debt Debt outstanding and disbursed 2,461 2,378 2,204 1,648 1,659 1,339 1,409 1,434 Public and publicly guaranteed 1,523 1,668 1,454 1,262 1,208 1,126 1,064 1,037 Official creditors 1,074 1,441 1,394 1,210 1,163 1,085 1,020 1,000 Multilateral 764 938 826 835 815 750 721 724 of which: IBRD 235 299 244 249 246 183 158 149 IDA 115 108 92 78 76 73 71 82 Bilateral 310 503 567 375 348 335 299 276 Private creditors 449 227 60 51 45 42 44 36 of which: Bonds 37 0 0 0 0 0 0 0 Commercial banks 307 157 54 8 4 4 4 3 Private nonguaranteed 938 711 750 387 451 213 345 397 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 623 189 254 335 267 615 951 516 Public and publicly guaranteed 280 135 219 45 51 40 26 33 Official creditors 234 122 206 44 48 39 26 33 Multilateral 180 55 67 41 48 39 26 33 of which: IBRD 64 34 43 20 19 12 4 2 IDA 0 0 0 0 0 0 2 14 Bilateral 54 67 139 3 0 0 0 0 Private creditors 45 13 13 1 4 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 20 13 13 0 0 0 0 0 Private nonguaranteed 343 54 35 290 216 575 925 483 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 388 493 196 183 270 947 933 514 Public and publicly guaranteed 184 204 115 114 120 172 164 62 Official creditors 48 82 96 93 111 166 157 55 Multilateral 35 47 53 48 83 137 60 35 of which: IBRD 14 27 29 23 24 78 30 11 IDA 1 2 3 4 4 4 4 4 Bilateral 13 35 44 45 28 30 97 20 Private creditors 136 122 19 21 9 6 6 7 of which: Bonds 0 32 0 0 0 0 0 0 Commercial banks 129 63 10 15 4 0 0 0 Private nonguaranteed 204 289 80 69 150 775 769 451 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 156 111 85 54 46 55 40 28 Public and publicly guaranteed 86 82 54 38 38 39 32 21 Official creditors 40 63 50 36 37 38 31 20 Multilateral 27 44 31 22 26 28 20 13 of which: IBRD 14 22 15 10 13 15 9 4 IDA 1 1 1 1 1 1 1 1 Bilateral 13 19 18 14 11 10 11 7 Private creditors 46 19 5 2 1 1 1 1 of which: Bonds 3 2 0 0 0 0 0 0 Commercial banks 36 9 3 1 0 0 0 0 Private nonguaranteed 70 29 31 16 8 16 8 7 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 278 -287 -352 96 -54 -396 -13 138 Net flows on external debt 197 -291 30 214 -68 -408 -64 115 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 85 90 68 71 71 72 74 75 Interest 20 19 18 17 16 15 14 13 Private creditors Principal 114 83 75 47 39 24 20 16 Interest 23 17 12 9 6 4 3 2 Notes: Long-term private nonguaranteed debt data from 2003 to 2008 has been revised based on reports provided by the country. 231 PARAGUAY 1. Summary external debt data External debt stocks 2,105 2,574 3,089 3,229 3,422 3,570 4,161 4,323 Long-term external debt 1,732 1,791 2,510 2,716 2,711 2,767 3,015 3,571 Public and publicly guaranteed 1,713 1,453 2,060 2,265 2,235 2,195 2,263 2,308 Private nonguaranteed 19 338 450 450 477 572 751 1,263 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 373 784 580 513 711 803 1,146 752 interest arrears on long-term 115 7 11 0 0 0 0 0 Memorandum items 321 60 55 8 8 8 7 7 1,713 1,453 2,060 2,265 2,235 2,195 2,263 2,308 19 338 450 450 477 572 751 1,263 117 363 125 99 608 43 171 411 External debt flows Disbursements 77 224 192 210 244 206 377 778 Long-term external debt 77 224 192 210 244 206 377 778 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 235 159 205 332 269 258 296 309 Long-term external debt 235 159 205 332 269 258 296 309 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -83 261 -185 -275 173 39 423 75 Long-term external debt -158 65 -13 -122 -25 -53 80 469 Short-term external debt 75 196 -173 -153 198 92 343 -394 Interest payments 90 135 148 144 152 166 165 135 Long-term external debt 77 93 115 115 121 135 136 123 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 13 42 33 29 31 30 29 12 2. Other non-debt resource inflows Foreign direct investment 77 103 104 54 173 206 228 274 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.6 2.6 2.8 2.8 2.5 Japanese yen 15.6 22.7 15.0 13.4 13.7 14.0 18.6 19.7 Pound sterling 2.0 0.3 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.3 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 17.2 28.8 60.1 68.4 68.8 68.9 66.0 67.3 4. Average terms of new commitments Official creditors Interest (%) 3.5 5.5 6.4 4.5 4.3 5.3 3.7 2.3 Maturity (years) 34.4 19.3 21.8 16.4 27.3 23.0 27.4 25.7 Grace period (years) 10.1 5.6 3.0 4.7 7.6 9.9 6.1 6.5 Private creditors Interest (%) 0.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 9.8 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 2.3 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 5,381 8,176 7,094 7,486 9,790 12,456 16,711 14,670 Exports of goods, services & income 2,631 5,075 3,185 4,213 5,497 6,951 9,304 7,317 Worker remit. & comp. of employees 34 287 278 269 463 484 579 555 Imports of goods, services & income 2,284 5,363 3,524 4,421 5,795 7,140 10,094 8,013 Profit remittances on FDI 17 62 84 158 271 365 490 509 Current account balance 390 -92 -163 16 128 184 -385 -196 International reserves 675 1,106 772 1,297 1,702 2,461 2,863 3,862 6. Ratios External debt stocks to exports (%) 80.0 50.7 97.0 76.6 62.3 51.4 44.7 59.1 External debt stocks to GNI (%) 39.1 31.5 43.6 43.1 35.0 28.7 24.9 29.5 Debt service to exports (%) 12.4 5.8 11.1 11.3 7.7 6.1 5.0 6.1 Short-term to external debt stocks (%) 17.7 30.4 18.8 15.9 20.8 22.5 27.5 17.4 Multilateral to external debt stocks (%) 34.8 30.2 36.9 39.0 37.6 36.3 31.1 32.3 Reserves to external debt stocks (%) 32.1 43.0 25.0 40.2 49.7 69.0 68.8 89.3 Reserves to imports (months) 3.5 2.5 2.6 3.5 3.5 4.1 3.4 5.8 232 PARAGUAY 7. Long-term external debt Debt outstanding and disbursed 1,732 1,791 2,510 2,716 2,711 2,767 3,015 3,571 Public and publicly guaranteed 1,713 1,453 2,060 2,265 2,235 2,195 2,263 2,308 Official creditors 1,182 1,320 1,611 1,845 1,853 1,843 1,940 2,026 Multilateral 732 778 1,141 1,260 1,286 1,297 1,295 1,398 of which: IBRD 279 154 201 223 234 227 214 281 IDA 41 36 28 21 19 18 16 15 Bilateral 450 543 471 584 567 546 645 628 Private creditors 531 133 449 421 381 352 323 282 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 258 56 424 403 374 345 316 275 Private nonguaranteed 19 338 450 450 477 572 751 1,263 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 77 224 192 210 244 206 377 778 Public and publicly guaranteed 77 216 192 144 154 111 197 266 Official creditors 50 204 192 141 154 111 197 266 Multilateral 31 129 166 75 111 101 108 198 of which: IBRD 16 26 47 17 32 13 9 101 IDA 0 0 0 0 0 0 0 0 Bilateral 19 75 26 66 44 10 89 67 Private creditors 27 11 0 3 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 11 0 3 0 0 0 0 Private nonguaranteed 0 8 0 66 90 95 180 512 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 235 159 205 332 269 258 296 309 Public and publicly guaranteed 226 157 112 206 209 206 237 263 Official creditors 198 123 105 176 169 177 208 221 Multilateral 62 76 61 108 105 127 140 141 of which: IBRD 40 41 19 25 26 27 30 33 IDA 1 1 1 1 1 1 1 1 Bilateral 137 47 43 68 65 50 68 80 Private creditors 27 34 7 29 40 29 29 41 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 10 10 4 18 30 29 29 41 Private nonguaranteed 9 2 93 126 60 52 59 46 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 77 93 115 115 121 135 136 123 Public and publicly guaranteed 77 87 99 94 97 104 96 98 Official creditors 57 71 69 77 75 80 78 84 Multilateral 47 41 51 53 53 57 56 49 of which: IBRD 25 15 11 10 12 13 13 7 IDA 0 0 0 0 0 0 0 0 Bilateral 10 30 18 24 22 23 21 35 Private creditors 20 16 30 17 22 24 18 14 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 2 29 16 21 24 18 14 Private nonguaranteed 0 6 16 21 24 31 40 25 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 -379 194 147 591 163 Net flows on external debt -83 261 -185 -275 173 39 423 75 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 111 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 248 222 207 178 163 180 181 174 Interest 65 58 52 46 42 39 35 30 Private creditors Principal 371 268 242 153 128 103 90 78 Interest 70 52 38 27 20 14 10 6 233 PERU 1. Summary external debt data External debt stocks 20,044 30,833 28,623 28,938 28,499 28,422 27,881 29,593 Long-term external debt 13,959 20,219 24,137 25,670 25,468 23,089 22,461 24,863 Public and publicly guaranteed 13,629 18,931 19,199 22,500 22,150 19,820 19,384 20,791 Private nonguaranteed 330 1,288 4,938 3,170 3,318 3,269 3,078 4,073 Use of IMF credit 755 955 558 57 20 0 0 0 Short-term external debt 5,330 9,659 3,928 3,210 3,011 5,333 5,419 4,730 interest arrears on long-term 3,713 4,584 14 2 16 16 21 0 Memorandum items 8,345 4,150 29 1 33 7 9 0 13,584 18,925 17,928 21,602 21,329 19,009 18,679 20,200 376 1,294 6,209 4,067 4,138 4,080 3,783 4,663 179 930 1,263 2,191 704 3,018 1,343 5,218 External debt flows Disbursements 289 880 2,064 2,769 1,690 6,174 1,549 5,723 Long-term external debt 289 880 2,064 2,769 1,690 6,174 1,549 5,723 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 229 521 1,138 4,032 2,060 6,502 3,209 2,431 Long-term external debt 166 521 997 3,993 2,021 6,481 3,209 2,431 IMF repurchases 63 0 141 40 39 20 0 0 Net flows 126 3,148 288 -802 -583 1,994 -1,579 2,624 Long-term external debt 123 359 1,067 -1,224 -330 -307 -1,660 3,292 Short-term external debt 66 2,789 -638 461 -213 2,322 81 -668 Interest payments 247 721 1,432 1,722 1,703 2,151 1,727 1,352 Long-term external debt 91 485 1,172 1,601 1,555 1,975 1,538 1,186 IMF charges 74 52 33 3 2 0 0 0 Short-term external debt 82 184 227 118 146 176 189 166 2. Other non-debt resource inflows Foreign direct investment 41 2,557 810 2,579 3,467 5,491 6,924 4,760 Portfolio equity 0 171 123 769 -45 70 85 47 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.0 7.7 8.2 11.1 7.1 Japanese yen 6.3 14.6 13.8 9.1 8.9 10.2 13.6 12.1 Pound sterling 0.9 1.2 0.4 0.1 0.1 0.0 0.0 0.0 Swiss franc 1.5 1.2 0.5 0.1 0.0 0.0 0.0 0.0 U.S.dollars 48.0 41.9 73.8 80.5 80.3 78.8 72.7 77.9 4. Average terms of new commitments Official creditors Interest (%) 7.1 6.2 5.8 5.0 5.2 5.5 3.4 1.4 Maturity (years) 9.2 17.4 22.0 16.4 17.2 16.6 18.7 19.4 Grace period (years) 2.4 4.6 5.0 7.0 6.5 5.6 7.1 5.8 Private creditors Interest (%) 5.5 0.0 9.0 7.7 0.0 7.5 0.0 7.2 Maturity (years) 6.7 0.0 5.0 22.0 0.0 21.8 0.0 13.0 Grace period (years) 1.3 0.0 0.1 22.0 0.0 20.6 0.0 13.0 5. Major economic aggregates Gross national income (GNI) 25,509 51,140 51,878 74,141 84,519 98,864 120,640 119,363 Exports of goods, services & income 4,315 7,197 9,247 20,282 27,540 32,620 37,016 31,970 Worker remit. & comp. of employees 87 599 718 1,440 1,837 2,131 2,444 2,378 Imports of goods, services & income 6,015 12,653 11,794 20,906 26,853 33,884 44,661 34,580 Profit remittances on FDI 15 834 344 4,030 6,741 7,788 8,346 7,064 Current account balance -1,419 -4,625 -1,546 1,148 2,872 1,363 -4,723 247 International reserves 1,891 8,653 8,676 14,171 17,442 27,786 31,241 33,225 6. Ratios External debt stocks to exports (%) 464.5 428.4 309.5 142.7 103.5 87.1 75.3 92.6 External debt stocks to GNI (%) 78.6 60.3 55.2 39.0 33.7 28.7 23.1 24.8 Debt service to exports (%) 11.0 17.3 27.8 28.4 13.7 26.5 13.3 11.8 Short-term to external debt stocks (%) 26.6 31.3 13.7 11.1 10.6 18.8 19.4 16.0 Multilateral to external debt stocks (%) 11.0 12.1 19.3 27.2 27.4 27.9 28.7 28.3 Reserves to external debt stocks (%) 9.4 28.1 30.3 49.0 61.2 97.8 112.1 112.3 Reserves to imports (months) 3.8 8.2 8.8 8.1 7.8 9.8 8.4 11.5 234 PERU 7. Long-term external debt Debt outstanding and disbursed 13,959 20,219 24,137 25,670 25,468 23,089 22,461 24,863 Public and publicly guaranteed 13,629 18,931 19,199 22,500 22,150 19,820 19,384 20,791 Official creditors 6,594 15,229 14,368 13,794 13,469 11,282 12,328 11,730 Multilateral 2,199 3,716 5,511 7,885 7,810 7,922 7,989 8,378 of which: IBRD 1,188 1,729 2,590 2,816 2,633 2,649 2,712 2,846 IDA 0 0 0 0 0 0 0 0 Bilateral 4,395 11,513 8,857 5,910 5,658 3,360 4,340 3,352 Private creditors 7,035 3,702 4,830 8,706 8,682 8,538 7,056 9,060 of which: Bonds 1 0 3,727 8,390 8,390 8,270 6,879 8,911 Commercial banks 3,159 3,040 110 86 77 68 170 145 Private nonguaranteed 330 1,288 4,938 3,170 3,318 3,269 3,078 4,073 of which: Bonds 0 60 150 218 192 1,419 1,269 2,097 Disbursements 289 880 2,064 2,769 1,690 6,174 1,549 5,723 Public and publicly guaranteed 289 725 1,487 2,635 638 3,299 1,165 4,527 Official creditors 187 720 1,452 985 638 1,180 1,165 2,527 Multilateral 38 631 811 799 509 1,038 991 2,336 of which: IBRD 0 202 266 192 36 256 294 379 IDA 0 0 0 0 0 0 0 0 Bilateral 149 89 641 187 129 142 174 191 Private creditors 103 5 35 1,650 0 2,119 0 2,000 of which: Bonds 0 0 0 1,650 0 2,119 0 2,000 Commercial banks 69 0 34 0 0 0 0 0 Private nonguaranteed 0 155 577 133 1,052 2,875 384 1,196 of which: Bonds 0 0 0 127 0 1,227 0 878 Principal repayments 166 521 997 3,993 2,021 6,481 3,209 2,431 Public and publicly guaranteed 112 481 979 3,031 1,143 5,862 2,616 1,831 Official creditors 81 404 834 2,916 1,030 3,496 1,253 1,806 Multilateral 24 201 497 556 603 950 958 653 of which: IBRD 0 86 93 210 219 241 230 245 IDA 0 0 0 0 0 0 0 0 Bilateral 57 203 337 2,360 426 2,546 296 1,153 Private creditors 31 77 146 114 113 2,366 1,363 25 of which: Bonds 0 0 0 90 90 2,343 1,338 0 Commercial banks 9 28 130 11 9 9 23 23 Private nonguaranteed 54 40 17 962 878 619 593 600 of which: Bonds 0 0 0 0 0 0 150 50 Interest payments 91 485 1,172 1,601 1,555 1,975 1,538 1,186 Public and publicly guaranteed 66 413 1,103 1,403 1,389 1,512 1,184 1,084 Official creditors 51 395 915 806 724 818 571 451 Multilateral 27 245 382 354 434 483 409 314 of which: IBRD 0 118 189 105 137 150 136 107 IDA 0 0 0 0 0 0 0 0 Bilateral 24 150 533 453 290 334 163 137 Private creditors 15 19 188 596 665 694 613 632 of which: Bonds 0 0 179 568 637 669 603 623 Commercial banks 8 10 5 7 8 7 10 9 Private nonguaranteed 25 71 69 198 166 464 354 103 of which: Bonds 0 6 11 10 10 42 230 49 8. Debt stock-flow reconciliation Total change in external debt stocks 1,479 4,323 -517 -2,612 -439 -77 -541 1,713 Net flows on external debt 126 3,148 288 -802 -583 1,994 -1,579 2,624 9. Debt restructurings Total amount rescheduled 0 919 1 21 0 0 0 30 Total amount forgiven 0 0 0 66 27 61 56 32 Debt buyback 0 0 0 0 0 2,343 838 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,004 991 1,203 1,131 1,018 962 979 880 Interest 308 278 249 216 184 158 134 112 Private creditors Principal 313 334 646 195 1,256 925 1,795 778 Interest 847 832 805 779 772 654 530 471 Notes: Data on long-term private nonguaranteed debt for 2009 are World Bank staff estimates. Data for 2007 include Bond prepayment and prepayment to Paris Club creditors. Short-term debt is based on reports provided by the country. 235 PHILIPPINES 1. Summary external debt data External debt stocks 30,580 39,379 58,304 61,658 60,282 65,910 64,875 62,911 Long-term external debt 25,241 33,372 50,777 54,874 55,273 58,826 57,874 58,909 Public and publicly guaranteed 24,040 28,525 33,744 35,364 36,751 37,959 39,077 41,738 Private nonguaranteed 1,201 4,847 17,033 19,510 18,522 20,867 18,797 17,171 Use of IMF credit 912 728 2,032 389 0 0 0 0 Short-term external debt 4,427 5,279 5,495 6,395 5,009 7,084 7,001 4,002 interest arrears on long-term 52 0 0 0 0 0 0 0 Memorandum items 182 0 1 1 2 0 1 0 23,667 28,369 33,674 35,295 36,685 37,894 39,001 41,667 1,573 5,003 17,103 19,579 18,588 20,932 18,873 17,242 3,520 2,594 5,353 3,775 3,965 2,544 3,135 7,773 External debt flows Disbursements 2,516 2,840 6,060 6,525 8,772 8,876 5,174 9,749 Long-term external debt 2,516 2,840 5,747 6,525 8,772 8,876 5,174 9,749 IMF purchases 0 0 313 0 0 0 0 0 Principal repayments 1,818 3,099 4,055 6,403 9,800 6,340 8,219 6,380 Long-term external debt 1,473 2,737 4,047 6,085 9,399 6,340 8,219 6,380 IMF repurchases 345 363 8 317 400 0 0 0 Net flows 1,123 -696 2,551 1,472 -2,414 4,611 -3,128 370 Long-term external debt 1,043 104 1,700 440 -628 2,536 -3,045 3,369 Short-term external debt 425 -437 546 1,349 -1,386 2,075 -83 -2,999 Interest payments 1,772 2,264 3,004 3,559 3,899 3,796 3,980 3,501 Long-term external debt 1,573 1,859 2,469 3,254 3,521 3,450 3,697 3,430 IMF charges 99 55 94 20 15 2 0 0 Short-term external debt 100 351 442 286 363 345 284 70 2. Other non-debt resource inflows Foreign direct investment 530 1,478 2,240 1,854 2,921 2,916 1,544 1,948 Portfolio equity 0 0 -202 1,465 2,525 3,178 -1,289 -1,096 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.5 5.8 5.9 5.2 5.2 Japanese yen 31.0 39.2 38.2 34.7 32.6 33.3 38.5 33.7 Pound sterling 1.0 0.2 0.1 0.1 0.1 0.0 0.0 0.0 Swiss franc 0.5 0.3 0.1 0.2 0.2 0.2 0.1 0.1 U.S.dollars 36.2 27.3 42.2 49.5 52.9 52.7 49.6 55.9 4. Average terms of new commitments Official creditors Interest (%) 5.1 4.3 3.3 3.1 5.3 4.4 2.6 1.1 Maturity (years) 24.4 26.7 28.1 19.8 17.2 21.1 22.4 19.9 Grace period (years) 7.3 7.8 7.3 5.4 5.1 6.5 6.4 6.3 Private creditors Interest (%) 9.2 7.1 8.3 7.6 8.0 6.4 4.6 7.1 Maturity (years) 15.1 11.0 11.4 10.8 19.2 24.6 16.7 13.8 Grace period (years) 7.6 10.2 10.8 10.2 19.2 24.5 12.3 13.4 5. Major economic aggregates Gross national income (GNI) 44,073 76,166 80,695 98,535 116,289 143,146 167,602 160,407 Exports of goods, services & income 13,028 32,862 44,060 48,725 57,358 64,629 63,941 53,323 Worker remit. & comp. of employees 1,465 5,360 6,961 13,566 15,251 16,302 18,642 19,766 Imports of goods, services & income 16,437 35,722 51,928 58,132 65,208 71,663 75,557 60,731 Profit remittances on FDI 311 515 230 1,391 2,015 2,133 1,675 2,042 Current account balance -2,695 -1,980 -2,225 1,984 5,347 7,119 3,631 8,552 International reserves 2,036 7,781 15,074 18,474 22,963 33,740 37,498 44,206 6. Ratios External debt stocks to exports (%) 234.7 119.8 132.3 126.5 105.1 102.0 101.5 118.0 External debt stocks to GNI (%) 69.4 51.7 72.3 62.6 51.8 46.0 38.7 39.2 Debt service to exports (%) 27.6 16.3 16.0 20.4 23.9 15.7 19.1 18.5 Short-term to external debt stocks (%) 14.5 13.4 9.4 10.4 8.3 10.7 10.8 6.4 Multilateral to external debt stocks (%) 20.5 21.6 12.4 10.7 11.4 11.0 11.4 13.4 Reserves to external debt stocks (%) 6.7 19.8 25.9 30.0 38.1 51.2 57.8 70.3 Reserves to imports (months) 1.5 2.6 3.5 3.8 4.2 5.6 6.0 8.7 236 PHILIPPINES 7. Long-term external debt Debt outstanding and disbursed 25,241 33,372 50,777 54,874 55,273 58,826 57,874 58,909 Public and publicly guaranteed 24,040 28,525 33,744 35,364 36,751 37,959 39,077 41,738 Official creditors 15,301 22,626 19,890 18,580 18,623 19,586 21,611 22,059 Multilateral 6,273 8,490 7,207 6,620 6,874 7,219 7,414 8,448 of which: IBRD 3,943 5,002 3,627 2,885 2,690 2,726 2,533 2,488 IDA 101 183 207 197 196 195 187 181 Bilateral 9,029 14,137 12,683 11,960 11,749 12,367 14,196 13,611 Private creditors 8,739 5,899 13,855 16,784 18,128 18,373 17,467 19,679 of which: Bonds 825 4,666 10,466 14,290 16,256 16,774 16,014 18,522 Commercial banks 6,660 416 2,482 1,413 813 636 662 800 Private nonguaranteed 1,201 4,847 17,033 19,510 18,522 20,867 18,797 17,171 of which: Bonds 0 1,925 2,856 2,975 2,476 1,993 1,314 956 Disbursements 2,516 2,840 5,747 6,525 8,772 8,876 5,174 9,749 Public and publicly guaranteed 2,224 1,816 5,228 3,874 7,748 2,767 2,130 8,039 Official creditors 1,373 1,413 1,528 1,144 1,905 1,655 1,454 2,348 Multilateral 854 621 386 381 974 808 860 1,702 of which: IBRD 506 393 152 129 132 372 192 361 IDA 0 10 10 0 0 0 0 0 Bilateral 519 792 1,142 763 931 847 594 646 Private creditors 852 403 3,701 2,730 5,843 1,112 677 5,691 of which: Bonds 575 278 2,630 2,384 5,626 1,048 576 5,510 Commercial banks 167 102 997 221 165 36 100 180 Private nonguaranteed 291 1,024 519 2,651 1,024 6,109 3,044 1,710 of which: Bonds 0 864 5 250 0 0 0 0 Principal repayments 1,473 2,737 4,047 6,085 9,399 6,340 8,219 6,380 Public and publicly guaranteed 1,411 2,587 2,515 3,353 5,742 2,547 3,592 3,843 Official creditors 439 2,204 1,572 1,788 1,921 1,667 2,322 1,723 Multilateral 388 651 562 644 790 625 972 651 of which: IBRD 301 413 349 376 383 403 471 394 IDA 1 2 3 7 7 7 7 7 Bilateral 51 1,553 1,009 1,143 1,131 1,041 1,349 1,072 Private creditors 972 383 943 1,566 3,820 881 1,270 2,120 of which: Bonds 180 32 395 1,209 2,911 462 844 1,644 Commercial banks 743 76 474 265 831 252 94 53 Private nonguaranteed 62 150 1,533 2,732 3,658 3,792 4,627 2,537 of which: Bonds 0 0 445 333 604 558 572 339 Interest payments 1,573 1,859 2,469 3,254 3,521 3,450 3,697 3,430 Public and publicly guaranteed 1,486 1,707 1,882 2,409 2,736 2,527 2,865 2,840 Official creditors 749 1,320 841 584 583 614 612 541 Multilateral 444 604 414 258 280 333 310 248 of which: IBRD 296 376 223 124 141 160 143 112 IDA 1 1 2 2 1 1 1 1 Bilateral 305 716 427 326 303 280 301 293 Private creditors 737 387 1,041 1,825 2,153 1,913 2,253 2,298 of which: Bonds 31 287 880 1,725 2,033 1,841 2,198 2,257 Commercial banks 671 34 130 70 92 34 27 26 Private nonguaranteed 87 152 586 845 785 923 832 590 of which: Bonds 0 82 479 283 255 140 103 88 8. Debt stock-flow reconciliation Total change in external debt stocks 1,927 -878 -17 690 -1,376 5,628 -1,035 -1,964 Net flows on external debt 1,123 -696 2,551 1,472 -2,414 4,611 -3,128 370 9. Debt restructurings Total amount rescheduled 1,068 0 0 0 0 0 0 0 Total amount forgiven 1,082 0 0 0 0 0 0 0 Debt buyback 721 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,941 1,921 1,865 2,032 1,822 1,506 1,447 1,399 Interest 481 436 393 353 314 283 254 227 Private creditors Principal 3,625 3,294 1,862 2,316 2,688 2,301 3,981 2,418 Interest 1,752 1,610 1,495 1,440 1,389 1,247 1,140 946 Notes: Long-term private nonguaranteed debt includes the following monitored aggregate private-sector debt: unregistered debt, intercompany debt and capital leases. Short-term debt is based on reports provided by the country. 237 ROMANIA 1. Summary external debt data External debt stocks 1,140 6,832 11,160 38,861 53,939 84,166 102,491 117,511 Long-term external debt 230 4,491 9,945 31,187 37,265 54,837 73,827 86,935 Public and publicly guaranteed 223 3,957 6,583 13,330 14,185 15,200 14,988 17,904 Private nonguaranteed 7 534 3,362 17,858 23,081 39,636 58,839 69,031 Use of IMF credit 0 1,038 453 261 104 0 0 9,544 Short-term external debt 910 1,303 763 7,413 16,570 29,330 28,664 21,032 interest arrears on long-term 0 0 12 13 10 10 6 5 Memorandum items 0 0 16 37 260 256 238 7 223 3,899 6,440 12,962 13,820 14,834 14,743 17,660 7 592 3,505 18,225 23,445 40,003 59,084 69,274 132 1,641 2,864 2,897 2,515 985 3,335 7,441 External debt flows Disbursements 26 1,513 3,258 12,918 11,226 20,884 32,513 32,596 Long-term external debt 26 1,455 3,144 12,918 11,226 20,884 32,513 23,206 IMF purchases 0 57 114 0 0 0 0 9,391 Principal repayments 4 675 1,801 5,331 6,472 8,325 14,427 13,163 Long-term external debt 4 302 1,705 5,179 6,304 8,219 14,427 13,163 IMF repurchases 0 373 96 152 167 105 0 0 Net flows 44 1,174 1,843 10,619 13,916 25,319 17,424 11,803 Long-term external debt 22 1,153 1,439 7,739 4,922 12,665 18,086 10,043 Short-term external debt 22 337 386 3,032 9,161 12,760 -662 -7,631 Interest payments 14 321 698 1,587 2,176 3,243 3,607 3,171 Long-term external debt 0 206 632 1,248 1,404 1,956 2,904 2,777 IMF charges 0 69 24 13 10 3 0 77 Short-term external debt 14 47 42 326 762 1,284 703 318 2. Other non-debt resource inflows Foreign direct investment 0 419 1,037 6,482 11,393 9,925 13,883 6,310 Portfolio equity 0 0 58 229 301 746 23 7 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 58.9 64.0 69.3 71.9 78.8 Japanese yen 0.0 2.7 5.3 3.2 3.5 3.4 4.5 3.6 Pound sterling 0.0 0.0 0.0 1.3 1.1 0.7 0.3 0.1 Swiss franc 89.5 1.8 0.9 0.7 0.6 0.5 0.4 0.2 U.S.dollars 9.8 34.4 42.5 26.9 22.8 18.9 17.3 13.4 4. Average terms of new commitments Official creditors Interest (%) 2.7 6.0 5.9 2.1 3.6 4.6 4.0 3.0 Maturity (years) 25.5 13.3 17.1 23.0 19.0 20.0 14.4 11.5 Grace period (years) 10.0 4.3 4.2 6.4 5.3 5.9 12.7 5.5 Private creditors Interest (%) 8.4 6.9 9.1 3.8 4.1 5.2 6.5 6.3 Maturity (years) 8.2 7.2 5.8 10.0 11.9 11.0 10.8 10.1 Grace period (years) 3.6 2.7 2.5 7.8 3.8 3.2 9.3 1.4 5. Major economic aggregates Gross national income (GNI) 38,159 35,236 36,768 98,008 119,825 169,088 199,261 164,073 Exports of goods, services & income 6,555 9,485 12,438 34,346 41,545 53,315 65,946 51,963 Worker remit. & comp. of employees .. 9 96 4,733 6,718 8,542 9,381 4,928 Imports of goods, services & income 9,915 11,628 14,653 47,298 60,454 83,013 98,549 64,739 Profit remittances on FDI 0 28 72 2,926 4,164 5,988 4,362 1,536 Current account balance -3,254 -1,774 -1,355 -8,504 -12,785 -23,080 -23,719 -7,139 International reserves 1,374 2,624 3,396 21,601 30,206 39,974 39,768 45,796 6. Ratios External debt stocks to exports (%) 17.4 72.0 89.7 113.1 129.8 157.9 155.4 226.1 External debt stocks to GNI (%) 3.0 19.4 30.4 39.7 45.0 49.8 51.4 71.6 Debt service to exports (%) 0.3 10.5 20.1 20.1 20.8 21.7 27.3 31.4 Short-term to external debt stocks (%) 79.8 19.1 6.8 19.1 30.7 34.8 28.0 17.9 Multilateral to external debt stocks (%) .. 24.7 30.1 14.4 11.3 8.0 7.1 9.0 Reserves to external debt stocks (%) 120.5 38.4 30.4 55.6 56.0 47.5 38.8 39.0 Reserves to imports (months) 1.7 2.7 2.8 5.5 6.0 5.8 4.8 8.5 238 ROMANIA 7. Long-term external debt Debt outstanding and disbursed 230 4,491 9,945 31,187 37,265 54,837 73,827 86,935 Public and publicly guaranteed 223 3,957 6,583 13,330 14,185 15,200 14,988 17,904 Official creditors 218 2,998 4,149 6,152 6,674 7,301 8,006 11,209 Multilateral 0 1,685 3,364 5,602 6,092 6,709 7,295 10,518 of which: IBRD 0 844 1,898 2,448 2,481 2,604 2,572 2,995 IDA 0 0 0 0 0 0 0 0 Bilateral 218 1,312 785 550 583 592 710 692 Private creditors 5 959 2,434 7,177 7,510 7,899 6,982 6,695 of which: Bonds 0 0 736 2,123 2,371 2,650 2,714 2,809 Commercial banks 0 250 1,157 4,874 5,000 5,113 4,178 3,818 Private nonguaranteed 7 534 3,362 17,858 23,081 39,636 58,839 69,031 of which: Bonds 0 0 0 0 0 0 0 35 Disbursements 26 1,455 3,144 12,918 11,226 20,884 32,513 23,206 Public and publicly guaranteed 23 1,185 1,937 2,637 1,315 1,271 2,799 3,801 Official creditors 19 873 1,083 1,016 678 718 1,515 3,660 Multilateral 0 361 932 891 554 658 1,437 3,612 of which: IBRD 0 128 384 282 140 232 239 703 IDA 0 0 0 0 0 0 0 0 Bilateral 19 511 151 125 124 60 77 48 Private creditors 5 312 854 1,621 637 554 1,284 140 of which: Bonds 0 0 139 623 0 0 1,104 0 Commercial banks 0 165 674 958 620 527 175 140 Private nonguaranteed 3 271 1,207 10,281 9,911 19,613 29,715 19,405 of which: Bonds 0 0 0 0 0 0 0 32 Principal repayments 4 302 1,705 5,179 6,304 8,219 14,427 13,163 Public and publicly guaranteed 0 217 984 1,697 1,436 1,469 2,490 1,367 Official creditors 0 132 493 590 556 585 685 671 Multilateral 0 14 326 376 450 508 626 609 of which: IBRD 0 0 91 205 195 211 288 261 IDA 0 0 0 0 0 0 0 0 Bilateral 0 118 168 213 106 77 60 63 Private creditors 0 85 491 1,107 880 884 1,805 696 of which: Bonds 0 0 0 374 0 0 883 0 Commercial banks 0 13 328 646 813 844 875 633 Private nonguaranteed 4 86 721 3,482 4,868 6,750 11,937 11,795 of which: Bonds 0 0 75 0 0 0 0 0 Interest payments 0 206 632 1,248 1,404 1,956 2,904 2,777 Public and publicly guaranteed 0 179 439 672 707 803 876 705 Official creditors 0 124 269 229 272 316 345 322 Multilateral 0 70 207 206 252 299 328 305 of which: IBRD 0 53 104 88 111 132 130 95 IDA 0 0 0 0 0 0 0 0 Bilateral 0 54 62 23 20 17 17 17 Private creditors 0 56 171 443 435 487 531 383 of which: Bonds 0 0 45 184 131 171 199 156 Commercial banks 0 8 76 248 295 312 327 219 Private nonguaranteed 0 27 193 576 697 1,153 2,028 2,071 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 9,287 15,079 30,227 18,325 15,020 Net flows on external debt 44 1,174 1,843 10,619 13,916 25,319 17,424 11,803 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 975 804 926 1,010 1,668 2,204 2,129 2,063 Interest 338 394 428 441 439 396 341 285 Private creditors Principal 8,201 7,148 8,088 6,889 6,915 7,188 6,394 6,297 Interest 1,458 1,278 1,107 940 818 702 568 466 Notes: Short-term debt is based on reports provided by the country. 239 RUSSIAN FEDERATION 1. Summary external debt data External debt stocks 58,670 121,401 159,993 229,911 250,746 368,075 402,453 381,339 Long-term external debt 46,870 101,582 132,751 202,780 210,294 288,970 347,798 350,715 Public and publicly guaranteed 46,870 101,582 110,989 86,877 71,466 106,659 103,246 99,990 Private nonguaranteed 0 0 21,762 115,903 138,828 182,310 244,552 250,725 Use of IMF credit 0 9,617 11,613 0 0 0 0 0 Short-term external debt 11,800 10,201 15,630 27,131 40,453 79,106 54,655 30,624 interest arrears on long-term 4,500 5,851 4,530 3,151 747 606 655 424 Memorandum items 0 22,417 7,368 2,064 506 39 153 36 46,870 101,582 110,989 86,877 71,466 106,659 103,246 99,990 0 0 21,762 115,903 138,828 182,310 244,552 250,725 17,221 3,154 76 11,545 13,004 45,956 23,462 10,123 External debt flows Disbursements 16,270 8,536 1,387 55,068 39,326 96,278 81,804 53,467 Long-term external debt 16,270 3,083 1,387 55,068 39,326 96,278 81,804 53,467 IMF purchases 0 5,453 0 0 0 0 0 0 Principal repayments 7,893 3,273 6,221 32,475 37,396 24,449 44,568 49,168 Long-term external debt 7,893 3,273 3,333 29,086 37,396 24,449 44,568 49,168 IMF repurchases 0 0 2,888 3,389 0 0 0 0 Net flows -2,023 4,913 -2,835 23,227 17,656 110,623 12,735 -19,501 Long-term external debt 8,377 -190 -1,947 25,982 1,930 71,829 37,235 4,299 Short-term external debt -10,400 -350 2,000 634 15,726 38,794 -24,500 -23,800 Interest payments 3,853 2,885 5,604 9,446 12,888 16,109 22,541 18,193 Long-term external debt 2,611 2,591 4,284 8,569 11,597 13,745 20,686 17,654 IMF charges 0 294 691 27 0 0 0 0 Short-term external debt 1,242 0 630 850 1,291 2,364 1,855 539 2. Other non-debt resource inflows Foreign direct investment .. 2,065 2,714 12,886 29,701 55,073 75,002 37,134 Portfolio equity .. 47 150 -100 6,480 18,675 -15,005 1,997 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 10.2 4.9 3.5 4.8 5.5 Japanese yen 3.0 2.0 0.8 1.2 1.2 0.8 0.7 0.7 Pound sterling 2.4 0.8 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 6.6 2.8 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 34.3 52.1 71.6 83.4 87.4 92.0 91.0 90.9 4. Average terms of new commitments Official creditors Interest (%) 8.3 7.0 7.3 4.4 0.0 3.5 0.0 0.7 Maturity (years) 10.6 16.7 16.8 17.3 4.3 11.1 0.0 13.3 Grace period (years) 5.9 5.6 5.3 4.8 3.3 3.3 0.0 3.8 Private creditors Interest (%) 8.3 7.0 7.1 5.2 6.2 5.8 5.4 5.5 Maturity (years) 13.4 14.4 9.1 4.0 4.7 6.5 5.7 5.6 Grace period (years) 7.5 2.5 2.1 1.6 3.1 4.3 3.9 5.3 5. Major economic aggregates Gross national income (GNI) 515,781 392,156 252,972 745,531 959,770 1,263,002 1,618,740 1,194,888 Exports of goods, services & income .. 97,265 119,350 286,244 364,409 441,054 585,034 380,879 Worker remit. & comp. of employees .. 2,502 1,275 3,012 3,344 4,713 6,033 5,359 Imports of goods, services & income .. 90,459 72,580 200,604 268,185 359,779 478,546 329,405 Profit remittances on FDI .. 197 887 19,483 34,601 43,195 62,290 38,614 Current account balance .. 6,963 46,839 84,602 94,686 77,768 103,722 48,971 International reserves .. 18,024 27,656 182,272 303,773 478,822 426,279 439,342 6. Ratios External debt stocks to exports (%) .. 124.8 134.1 80.3 68.8 83.5 68.8 100.1 External debt stocks to GNI (%) 11.4 31.0 63.2 30.8 26.1 29.1 24.9 31.9 Debt service to exports (%) .. 6.3 9.9 14.6 13.8 9.2 11.5 17.7 Short-term to external debt stocks (%) 20.1 8.4 9.8 11.8 16.1 21.5 13.6 8.0 Multilateral to external debt stocks (%) 0.7 1.6 4.4 2.4 2.2 1.4 1.1 1.0 Reserves to external debt stocks (%) .. 14.8 17.3 79.3 121.1 130.1 105.9 115.2 Reserves to imports (months) .. 2.4 4.6 10.9 13.6 16.0 10.7 16.0 240 RUSSIAN FEDERATION 7. Long-term external debt Debt outstanding and disbursed 46,870 101,582 132,751 202,780 210,294 288,970 347,798 350,715 Public and publicly guaranteed 46,870 101,582 110,989 86,877 71,466 106,659 103,246 99,990 Official creditors 5,187 57,449 70,851 34,723 11,177 9,641 8,371 7,322 Multilateral 416 1,985 7,040 5,627 5,451 5,099 4,477 3,724 of which: IBRD 0 1,524 6,844 5,091 4,759 4,292 3,851 3,211 IDA 0 0 0 0 0 0 0 0 Bilateral 4,771 55,464 63,811 29,096 5,727 4,542 3,894 3,599 Private creditors 41,683 44,133 40,138 52,154 60,288 97,019 94,875 92,667 of which: Bonds 1,891 1,115 36,368 40,244 43,654 60,070 66,719 69,580 Commercial banks 17,840 16,674 440 10,050 14,976 36,145 27,627 22,744 Private nonguaranteed 0 0 21,762 115,903 138,828 182,310 244,552 250,725 of which: Bonds 0 0 1,412 33,673 48,741 70,208 78,078 73,331 Disbursements 16,270 3,083 1,387 55,068 39,326 96,278 81,804 53,467 Public and publicly guaranteed 16,270 3,083 1,007 11,606 13,545 46,257 20,159 12,463 Official creditors 3,059 1,092 746 441 569 520 361 108 Multilateral 178 855 574 409 528 420 260 108 of which: IBRD 0 824 540 251 324 214 221 95 IDA 0 0 0 0 0 0 0 0 Bilateral 2,881 237 172 32 42 100 101 0 Private creditors 13,212 1,990 261 11,165 12,976 45,736 19,798 12,354 of which: Bonds 310 0 0 1,000 5,150 19,888 12,187 8,723 Commercial banks 479 20 0 10,050 7,826 25,848 7,611 3,631 Private nonguaranteed 0 0 380 43,462 25,781 50,021 61,645 41,004 of which: Bonds 0 0 75 14,620 16,192 26,395 14,333 2,286 Principal repayments 7,893 3,273 3,333 29,086 37,396 24,449 44,568 49,168 Public and publicly guaranteed 7,893 3,273 2,031 23,116 31,713 10,879 23,103 15,827 Official creditors 238 917 1,206 18,683 25,983 1,765 1,587 1,169 Multilateral 7 434 312 823 741 815 947 872 of which: IBRD 0 0 266 780 693 724 706 730 IDA 0 0 0 0 0 0 0 0 Bilateral 231 483 894 17,860 25,242 950 640 296 Private creditors 7,656 2,356 825 4,433 5,730 9,114 21,516 14,658 of which: Bonds 0 810 268 3,765 2,543 3,714 5,098 5,944 Commercial banks 4,086 51 19 0 2,900 4,679 16,110 8,526 Private nonguaranteed 0 0 1,302 5,971 5,683 13,570 21,465 33,341 of which: Bonds 0 0 825 822 1,475 6,065 6,020 7,033 Interest payments 2,611 2,591 4,284 8,569 11,597 13,745 20,686 17,654 Public and publicly guaranteed 2,611 2,591 3,207 5,221 5,277 4,704 6,235 5,397 Official creditors 111 1,245 1,227 2,339 1,735 453 331 184 Multilateral 17 132 431 201 276 301 234 135 of which: IBRD 0 57 412 184 243 262 202 121 IDA 0 0 0 0 0 0 0 0 Bilateral 93 1,113 796 2,137 1,458 152 97 49 Private creditors 2,501 1,346 1,979 2,882 3,543 4,251 5,904 5,213 of which: Bonds 96 140 1,845 2,804 2,855 3,331 4,345 4,631 Commercial banks 1,435 600 4 7 631 875 1,523 564 Private nonguaranteed 0 0 1,077 3,348 6,320 9,041 14,451 12,257 of which: Bonds 0 0 165 1,774 3,234 4,722 5,269 5,550 8. Debt stock-flow reconciliation Total change in external debt stocks 4,748 -374 -14,761 33,128 20,836 117,329 34,378 -21,114 Net flows on external debt -2,023 4,913 -2,835 23,227 17,656 110,623 12,735 -19,501 9. Debt restructurings Total amount rescheduled 0 7,166 26,526 0 1,170 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,709 1,264 937 725 621 452 298 901 Interest 146 116 91 73 61 50 41 35 Private creditors Principal 68,498 63,390 41,980 41,073 32,261 19,256 16,896 18,691 Interest 14,377 12,053 10,148 8,462 6,812 5,474 4,606 3,856 Notes: Data on long-term public and publicly guaranteed, long-term private nonguaranteed, and short-term debt are World Bank staff estimates. 241 RWANDA 1. Summary external debt data External debt stocks 708.0 1029.0 1270.3 1508.9 403.7 561.7 652.4 747.0 Long-term external debt 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5 Public and publicly guaranteed 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.1 26.3 85.8 77.0 4.3 8.1 11.4 15.2 Short-term external debt 47.1 32.0 37.9 17.4 19.3 10.8 13.6 6.3 interest arrears on long-term 1.6 17.5 16.2 13.4 12.3 10.8 8.6 6.3 Memorandum items 8.3 44.2 71.9 73.3 69.3 63.6 55.5 48.2 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71.9 50.0 55.0 47.5 16.2 282.0 125.8 0.0 External debt flows Disbursements 62.3 67.5 64.9 86.5 67.0 81.2 115.6 107.5 Long-term external debt 62.3 54.0 39.8 84.8 64.5 77.7 112.0 103.9 IMF purchases 0.0 13.5 25.1 1.7 2.5 3.5 3.6 3.6 Principal repayments 8.7 11.4 24.3 16.8 18.0 16.4 16.0 13.3 Long-term external debt 7.9 11.4 13.1 13.2 18.0 16.4 16.0 13.3 IMF repurchases 0.8 0.0 11.1 3.7 0.0 0.0 0.0 0.0 Net flows 55.5 52.6 24.3 66.6 52.1 57.8 104.6 89.2 Long-term external debt 54.4 42.6 26.7 71.6 46.5 61.3 96.0 90.6 Short-term external debt 1.9 -3.5 -16.4 -3.0 3.0 -7.0 5.0 -5.0 Interest payments 11.1 8.9 11.4 10.8 8.1 6.6 9.3 12.6 Long-term external debt 5.9 8.3 8.5 10.2 7.8 6.4 9.1 12.5 IMF charges 0.0 0.1 1.4 0.4 0.0 0.0 0.1 0.1 Short-term external debt 5.2 0.5 1.5 0.2 0.3 0.2 0.1 0.0 2. Other non-debt resource inflows Foreign direct investment 7.6 2.2 8.3 8.0 11.2 67.1 103.4 118.7 Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.2 6.9 5.0 5.5 5.4 Japanese yen 1.5 1.3 0.4 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 38.8 45.6 58.5 63.8 53.9 44.3 42.3 39.6 4. Average terms of new commitments Official creditors Interest (%) 1.4 0.8 0.8 0.8 1.0 3.5 2.5 0.0 Maturity (years) 33.9 39.8 39.7 44.4 31.3 25.4 27.7 0.0 Grace period (years) 9.0 10.3 10.2 10.1 6.7 7.7 8.3 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2572.3 1298.9 1719.6 2361.8 2805.9 3394.6 4421.8 5002.4 Exports of goods, services & income 147.3 98.8 141.5 284.6 302.5 411.3 693.0 548.6 Worker remit. & comp. of employees 2.6 21.1 6.6 20.9 21.2 51.3 67.8 92.6 Imports of goods, services & income 374.7 391.3 451.7 702.8 778.3 971.4 1463.5 1531.2 Profit remittances on FDI 6.0 1.5 3.1 4.7 3.9 9.3 15.4 4.7 Current account balance -84.6 57.5 -94.4 -52.1 -180.0 -146.6 -252.1 -378.6 International reserves 44.3 99.1 190.6 405.8 439.7 552.8 596.3 742.7 6. Ratios External debt stocks to exports (%) 480.7 1041.4 897.7 530.1 133.4 136.6 94.1 136.2 External debt stocks to GNI (%) 27.5 79.2 73.9 63.9 14.4 16.5 14.8 14.9 Debt service to exports (%) 13.4 20.5 25.2 9.7 8.6 5.6 3.6 4.7 Short-term to external debt stocks (%) 6.7 3.1 3.0 1.2 4.8 1.9 2.1 0.8 Multilateral to external debt stocks (%) 76.6 79.1 78.5 90.0 81.3 81.2 83.4 84.5 Reserves to external debt stocks (%) 6.3 9.6 15.0 26.9 108.9 98.4 91.4 99.4 Reserves to imports (months) 1.4 3.0 5.1 6.9 6.8 6.8 4.9 5.8 242 RWANDA 7. Long-term external debt Debt outstanding and disbursed 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5 Public and publicly guaranteed 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5 Official creditors 660.8 970.7 1146.6 1414.5 380.1 542.8 627.4 725.5 Multilateral 542.2 813.7 996.6 1357.8 328.2 455.8 544.1 631.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 339.9 512.0 691.9 980.3 168.5 203.8 241.7 254.2 Bilateral 118.6 157.0 150.0 56.7 51.9 87.0 83.3 94.1 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 Disbursements 62.3 54.0 39.8 84.8 64.5 77.7 112.0 103.9 Public and publicly guaranteed 62.3 54.0 39.8 84.8 64.5 77.7 112.0 103.9 Official creditors 62.3 54.0 39.8 84.8 64.5 77.7 112.0 103.9 Multilateral 36.8 54.0 39.8 84.8 64.5 67.6 104.8 86.2 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 46.8 37.0 27.6 40.5 10.5 Bilateral 25.5 0.0 0.0 0.0 0.0 10.1 7.2 17.7 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 7.9 11.4 13.1 13.2 18.0 16.4 16.0 13.3 Public and publicly guaranteed 7.9 11.4 13.1 13.2 18.0 16.4 16.0 13.3 Official creditors 7.1 11.4 13.1 13.2 18.0 16.4 16.0 13.3 Multilateral 4.7 11.2 10.8 8.2 12.6 10.9 10.0 7.5 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 0.2 0.0 0.0 0.0 0.0 Bilateral 2.4 0.2 2.3 5.0 5.3 5.4 6.0 5.8 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 8.5 10.2 7.8 6.4 9.1 12.5 Public and publicly guaranteed 5.9 8.3 8.5 10.2 7.8 6.4 9.1 12.5 Official creditors 5.9 8.3 8.5 10.2 7.8 6.4 9.1 12.5 Multilateral 4.4 8.3 7.5 9.3 6.8 5.2 6.6 10.6 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 5.6 2.3 1.5 1.7 1.8 Bilateral 1.5 0.0 1.0 0.9 1.0 1.1 2.5 1.8 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 8. Debt stock-flow reconciliation Total change in external debt stocks 88.9 76.7 -21.3 -145.7 -1105.2 158.0 90.8 94.6 Net flows on external debt 55.5 52.6 24.3 66.6 52.1 57.8 104.6 89.2 9. Debt restructurings Total amount rescheduled 0.0 6.1 6.8 8.0 7.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.3 103.5 1215.5 0.0 7.6 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6.8 8.3 12.4 15.6 16.2 26.8 32.3 32.3 Interest 12.7 13.6 14.1 14.2 14.3 14.1 13.5 12.7 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates. Rwanda was granted debt relief effective in 2006 under MDRI. 243 SAMOA 1. Summary external debt data External debt stocks 91.8 160.0 137.7 167.5 163.7 185.9 205.6 235.5 Long-term external debt 91.0 160.0 137.7 167.5 163.7 185.9 205.6 226.4 Public and publicly guaranteed 91.0 160.0 137.7 167.5 163.7 185.9 205.6 226.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.8 0.0 0.0 0.0 0.0 0.0 0.0 9.1 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 interest arrears on long-term 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91.0 160.0 137.7 167.5 163.7 185.9 205.6 226.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.3 0.1 11.8 4.8 8.5 91.3 48.8 0.0 External debt flows Disbursements 15.4 6.8 6.7 10.4 7.3 17.8 25.5 34.1 Long-term external debt 15.4 6.8 6.7 10.4 7.3 17.8 25.5 25.2 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.9 Principal repayments 4.1 3.0 4.2 4.3 4.9 5.3 6.0 6.0 Long-term external debt 3.3 3.0 4.2 4.3 4.9 5.3 6.0 6.0 IMF repurchases 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 11.2 3.8 2.5 6.1 2.4 12.6 19.6 28.2 Long-term external debt 12.1 3.8 2.5 6.1 2.4 12.6 19.6 19.2 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.3 1.6 1.3 1.5 2.1 1.6 2.1 2.5 Long-term external debt 1.2 1.6 1.3 1.5 2.1 1.6 2.1 2.5 IMF charges 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 6.6 3.4 -1.5 -3.0 20.7 2.5 13.0 1.4 Portfolio equity 0.0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.8 1.7 1.4 0.9 0.8 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 38.6 36.6 41.0 43.6 48.5 45.7 41.1 36.8 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 1.1 3.8 1.4 1.1 0.8 0.0 Maturity (years) 39.8 20.5 35.1 19.6 31.4 28.8 22.9 0.0 Grace period (years) 10.3 8.5 9.0 5.1 7.9 8.5 5.9 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 164.3 193.7 231.7 388.2 432.8 479.9 561.5 480.8 Exports of goods, services & income 51.2 69.1 .. 131.3 149.7 159.6 .. .. Worker remit. & comp. of employees 43.0 41.0 45.0 109.9 108.0 119.8 135.0 131.4 Imports of goods, services & income 96.5 119.9 .. 263.3 293.2 306.3 289.8 .. Profit remittances on FDI 0.0 0.0 .. 7.7 13.8 8.8 .. .. Current account balance 8.6 9.3 .. -25.2 -47.8 -35.8 .. .. International reserves 69.0 55.3 63.7 81.8 80.7 95.4 87.1 165.8 6. Ratios External debt stocks to exports (%) 179.2 231.6 .. 127.6 109.4 116.5 .. .. External debt stocks to GNI (%) 55.9 82.6 59.4 43.1 37.8 38.7 36.6 49.0 Debt service to exports (%) 10.6 6.6 .. 4.4 4.6 4.3 .. .. Short-term to external debt stocks (%) .. .. .. .. .. .. .. 0.0 Multilateral to external debt stocks (%) 88.3 93.1 93.9 92.5 99.8 95.1 85.6 76.5 Reserves to external debt stocks (%) 75.2 34.6 46.2 48.8 49.3 51.3 42.4 70.4 Reserves to imports (months) 8.6 5.5 .. 3.7 3.3 3.7 3.6 .. 244 SAMOA 7. Long-term external debt Debt outstanding and disbursed 91.0 160.0 137.7 167.5 163.7 185.9 205.6 226.4 Public and publicly guaranteed 91.0 160.0 137.7 167.5 163.7 185.9 205.6 226.4 Official creditors 89.6 160.0 137.7 167.5 163.7 185.9 205.6 226.4 Multilateral 81.1 149.1 129.3 155.0 163.4 176.8 176.0 180.1 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 64.2 69.3 77.7 79.0 79.9 Bilateral 8.5 11.0 8.4 12.5 0.3 9.1 29.5 46.3 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 6.8 6.7 10.4 7.3 17.8 25.5 25.2 Public and publicly guaranteed 15.4 6.8 6.7 10.4 7.3 17.8 25.5 25.2 Official creditors 15.4 6.8 6.7 10.4 7.3 17.8 25.5 25.2 Multilateral 15.0 6.6 6.7 10.4 7.3 9.3 5.9 8.5 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 7.7 3.5 6.9 3.1 1.8 Bilateral 0.4 0.2 0.0 0.0 0.0 8.6 19.6 16.7 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 4.3 4.9 5.3 6.0 6.0 Public and publicly guaranteed 3.3 3.0 4.2 4.3 4.9 5.3 6.0 6.0 Official creditors 3.3 3.0 4.2 4.3 4.9 5.3 6.0 6.0 Multilateral 2.2 2.6 3.3 3.9 4.7 5.2 5.9 6.0 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 1.1 1.2 1.3 1.5 Bilateral 1.0 0.3 0.9 0.3 0.2 0.0 0.1 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 1.2 1.6 1.3 1.5 2.1 1.6 2.1 2.5 Public and publicly guaranteed 1.2 1.6 1.3 1.5 2.1 1.6 2.1 2.5 Official creditors 1.1 1.6 1.3 1.5 2.1 1.6 2.1 2.5 Multilateral 0.7 1.5 1.2 1.5 2.1 1.6 1.8 1.7 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 0.6 0.5 0.6 0.6 0.6 Bilateral 0.4 0.1 0.0 0.0 0.0 0.0 0.3 0.8 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 5.5 -8.8 -7.2 -3.8 22.2 19.7 29.9 Net flows on external debt 11.2 3.8 2.5 6.1 2.4 12.6 19.6 28.2 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 12.2 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6.7 7.4 8.5 9.4 12.9 13.3 13.9 15.1 Interest 2.9 2.8 2.9 2.9 2.8 2.8 2.8 2.6 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2007, 2008, and 2009 are $900millions, $1,116 millions, and $1,189 millions respectively. 245 SAO TOME AND PRINCIPE 1. Summary external debt data External debt stocks 150.0 245.7 310.1 344.8 359.6 173.0 177.5 185.8 Long-term external debt 132.9 231.8 284.4 327.2 340.4 151.3 154.6 171.6 Public and publicly guaranteed 132.9 231.8 284.4 327.2 340.4 151.3 154.6 171.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 1.1 0.8 2.5 3.2 4.1 2.6 3.8 4.5 Short-term external debt 16.0 13.0 23.3 14.4 15.1 19.2 19.1 9.8 interest arrears on long-term 7.6 6.0 11.3 14.4 14.1 8.2 9.1 9.8 Memorandum items 21.4 27.2 47.7 55.8 69.6 71.6 77.0 77.3 132.9 231.8 284.4 327.2 340.4 151.3 154.6 166.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.0 36.3 0.0 18.2 0.0 0.0 5.0 1.4 10.0 External debt flows Disbursements 15.6 13.0 13.9 6.1 3.9 5.5 6.6 19.4 Long-term external debt 15.6 13.0 11.4 5.4 2.7 4.2 5.2 18.8 IMF purchases 0.0 0.0 2.5 0.6 1.2 1.3 1.3 0.6 Principal repayments 1.1 1.1 2.2 5.7 6.2 6.1 3.0 3.1 Long-term external debt 1.1 0.8 2.2 5.5 5.7 5.4 3.0 3.1 IMF repurchases 0.0 0.2 0.0 0.1 0.6 0.8 0.0 0.0 Net flows 9.2 12.9 11.7 0.4 -1.3 9.4 2.6 6.3 Long-term external debt 14.4 12.2 9.2 -0.1 -3.0 -1.2 2.3 15.8 Short-term external debt -5.3 1.0 0.0 0.0 1.0 10.0 -1.0 -10.0 Interest payments 1.7 1.2 2.1 2.1 1.9 1.4 0.7 0.4 Long-term external debt 1.2 0.9 1.2 2.1 1.8 1.2 0.4 0.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.5 0.3 0.9 0.0 0.0 0.3 0.3 0.0 2. Other non-debt resource inflows Foreign direct investment .. 0.0 3.8 15.7 38.0 36.0 71.7 21.1 Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.0 6.4 3.6 3.2 2.8 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 4.6 5.0 5.2 12.7 13.1 12.2 U.S.dollars 39.3 40.0 44.9 46.7 46.2 66.6 64.4 66.2 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 0.9 0.0 0.0 4.6 0.0 0.0 Maturity (years) 35.7 0.0 38.7 0.0 0.0 20.0 30.3 29.8 Grace period (years) 10.1 0.0 9.3 0.0 0.0 8.0 10.3 5.8 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. 110.7 126.9 151.1 177.5 196.1 Exports of goods, services & income 8.1 .. 16.8 17.9 22.3 20.3 19.4 22.2 Worker remit. & comp. of employees 0.3 .. 0.5 1.5 1.6 2.0 3.0 2.0 Imports of goods, services & income 22.4 .. 41.2 57.6 80.1 85.8 115.6 106.5 Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Current account balance -12.0 .. -20.1 -36.2 -57.7 -64.3 -93.5 -77.5 International reserves .. 5.1 11.6 26.7 34.2 39.3 .. .. 6. Ratios External debt stocks to exports (%) 1843.3 .. 1842.8 1924.6 1614.7 853.4 912.6 836.5 External debt stocks to GNI (%) .. .. .. 311.5 283.4 114.5 100.0 94.8 Debt service to exports (%) 34.8 .. 25.6 43.2 36.5 37.3 18.8 15.7 Short-term to external debt stocks (%) 10.7 5.3 7.5 4.2 4.2 11.1 10.7 5.3 Multilateral to external debt stocks (%) 48.4 61.9 54.6 57.3 56.5 21.8 22.9 23.3 Reserves to external debt stocks (%) .. 2.1 3.8 7.7 9.5 22.7 .. .. Reserves to imports (months) .. .. 3.4 5.6 5.1 5.5 .. .. 246 SAO TOME AND PRINCIPE 7. Long-term external debt Debt outstanding and disbursed 132.9 231.8 284.4 327.2 340.4 151.3 154.6 171.6 Public and publicly guaranteed 132.9 231.8 284.4 327.2 340.4 151.3 154.6 171.6 Official creditors 131.7 231.8 284.4 327.2 340.4 151.3 154.6 171.6 Multilateral 72.6 152.0 169.3 197.4 203.2 37.7 40.6 43.3 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 72.4 76.4 10.7 13.3 14.4 Bilateral 59.2 79.9 115.1 129.8 137.2 113.6 114.0 128.3 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 5.4 2.7 4.2 5.2 18.8 Public and publicly guaranteed 15.6 13.0 11.4 5.4 2.7 4.2 5.2 18.8 Official creditors 15.6 13.0 11.4 5.4 2.7 4.2 5.2 18.8 Multilateral 12.8 13.0 8.4 5.4 2.7 4.2 5.2 3.8 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 2.5 1.9 2.6 2.7 1.0 Bilateral 2.7 0.0 2.9 0.0 0.0 0.0 0.0 15.0 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 5.5 5.7 5.4 3.0 3.1 Public and publicly guaranteed 1.1 0.8 2.2 5.5 5.7 5.4 3.0 3.1 Official creditors 1.0 0.8 2.2 5.5 5.7 5.4 3.0 3.1 Multilateral 0.4 0.8 1.9 2.1 3.8 4.2 1.9 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 0.0 0.0 0.0 Bilateral 0.6 0.0 0.3 3.5 1.9 1.1 1.1 1.4 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 2.1 1.8 1.2 0.4 0.4 Public and publicly guaranteed 1.2 0.9 1.2 2.1 1.8 1.2 0.4 0.4 Official creditors 1.1 0.9 1.2 2.1 1.8 1.2 0.4 0.4 Multilateral 0.3 0.8 1.2 1.4 1.5 1.2 0.4 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 0.5 0.4 0.1 0.1 0.1 Bilateral 0.9 0.1 0.0 0.7 0.3 0.0 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 -26.5 14.8 -186.5 4.5 8.3 Net flows on external debt 9.2 12.9 11.7 0.4 -1.3 9.4 2.6 6.3 9. Debt restructurings Total amount rescheduled 0.0 30.3 7.2 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 11.4 2.9 1.4 196.2 2.7 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 9.3 8.2 8.1 7.5 7.4 6.9 5.1 2.9 Interest 1.0 0.9 0.9 0.8 0.7 0.6 0.5 0.4 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data for 2007, 2008, and 2009 include the effects of MDRI and HIPC debt relief, in the amount of $69,140 in thousands, $36 in thousands, and $40 in thousands respectively. 247 SENEGAL 1. Summary external debt data External debt stocks 3,754 3,916 3,622 3,846 1,905 2,553 2,826 3,503 Long-term external debt 3,018 3,309 3,221 3,662 1,794 2,193 2,565 3,318 Public and publicly guaranteed 2,958 3,266 3,208 3,521 1,644 1,993 2,385 2,961 Private nonguaranteed 60 44 13 141 151 200 180 357 Use of IMF credit 314 347 255 148 26 27 64 167 Short-term external debt 421 260 146 36 84 332 197 18 interest arrears on long-term 4 9 1 0 0 0 0 0 Memorandum items 0 51 17 10 18 15 5 5 2,921 3,234 3,208 3,521 1,644 1,993 2,385 2,961 97 76 13 141 151 200 180 357 375 333 241 327 534 294 567 763 External debt flows Disbursements 261 256 156 387 280 497 560 935 Long-term external debt 232 173 137 382 259 497 522 835 IMF purchases 29 83 19 5 20 0 38 100 Principal repayments 196 196 148 145 111 126 126 148 Long-term external debt 141 156 127 112 111 126 126 148 IMF repurchases 55 41 21 34 0 0 0 0 Net flows 232 87 -153 242 217 619 299 608 Long-term external debt 91 17 10 270 149 371 396 687 Short-term external debt 167 28 -161 0 48 248 -135 -179 Interest payments 128 87 76 57 74 63 55 52 Long-term external debt 84 70 58 55 70 50 49 51 IMF charges 15 3 1 1 0 0 0 0 Short-term external debt 29 14 17 2 4 12 6 1 2. Other non-debt resource inflows Foreign direct investment 57 32 63 45 220 297 272 208 Portfolio equity 1 4 -2 -6 0 8 .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 10.8 8.8 9.9 15.9 17.7 Japanese yen 1.5 3.6 3.5 2.7 5.2 0.0 0.2 0.2 Pound sterling 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.9 0.5 0.2 0.0 0.0 0.0 0.0 0.0 U.S.dollars 32.8 35.8 45.0 59.2 40.2 40.9 37.0 39.6 4. Average terms of new commitments Official creditors Interest (%) 2.0 1.2 0.8 1.2 0.9 1.9 2.7 1.2 Maturity (years) 33.4 37.6 40.1 34.0 33.9 23.5 23.4 34.8 Grace period (years) 8.8 9.1 9.9 7.6 8.5 5.8 6.7 8.4 Private creditors Interest (%) 8.3 0.0 3.0 0.0 6.3 0.0 0.0 8.8 Maturity (years) 10.1 0.0 9.3 0.0 9.0 0.0 0.0 5.0 Grace period (years) 2.6 0.0 2.8 0.0 0.4 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 5,520 4,724 4,601 8,532 9,281 11,224 13,168 12,915 Exports of goods, services & income 1,537 1,593 1,383 2,451 2,522 3,014 .. .. Worker remit. & comp. of employees 142 146 233 789 925 1,192 1,288 1,276 Imports of goods, services & income 2,053 2,033 1,929 3,880 4,220 5,614 6,299 .. Profit remittances on FDI 60 62 75 62 70 78 .. .. Current account balance -363 -244 -332 -676 -861 -1,311 .. .. International reserves 22 272 384 1,191 1,334 1,660 1,602 2,123 6. Ratios External debt stocks to exports (%) 244.2 245.8 261.9 157.0 75.5 84.7 .. .. External debt stocks to GNI (%) 68.0 82.9 78.7 45.1 20.5 22.7 21.5 27.1 Debt service to exports (%) 21.1 17.8 16.2 8.3 7.3 6.2 .. .. Short-term to external debt stocks (%) 11.2 6.6 4.0 0.9 4.4 13.0 7.0 0.5 Multilateral to external debt stocks (%) 36.6 48.2 52.8 73.6 51.7 54.1 55.2 51.7 Reserves to external debt stocks (%) 0.6 6.9 10.6 31.0 70.1 65.0 56.7 60.6 Reserves to imports (months) 0.1 1.6 2.4 3.7 3.8 3.5 3.1 .. 248 SENEGAL 7. Long-term external debt Debt outstanding and disbursed 3,018 3,309 3,221 3,662 1,794 2,193 2,565 3,318 Public and publicly guaranteed 2,958 3,266 3,208 3,521 1,644 1,993 2,385 2,961 Official creditors 2,793 3,194 3,203 3,511 1,632 1,986 2,380 2,759 Multilateral 1,376 1,889 1,913 2,832 985 1,382 1,559 1,810 of which: IBRD 88 35 1 0 0 0 0 0 IDA 747 1,126 1,330 2,045 495 652 780 921 Bilateral 1,417 1,305 1,291 680 648 604 821 949 Private creditors 166 72 5 9 11 7 4 202 of which: Bonds 0 0 0 0 0 0 0 200 Commercial banks 113 66 5 9 11 7 4 2 Private nonguaranteed 60 44 13 141 151 200 180 357 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 232 173 137 382 259 497 522 835 Public and publicly guaranteed 217 172 136 333 225 472 518 627 Official creditors 217 172 131 333 220 472 518 427 Multilateral 145 144 119 262 193 395 243 264 of which: IBRD 0 0 0 0 0 0 0 0 IDA 117 107 92 182 131 133 135 137 Bilateral 72 28 12 71 28 78 275 162 Private creditors 0 0 5 0 4 0 0 200 of which: Bonds 0 0 0 0 0 0 0 200 Commercial banks 0 0 5 0 4 0 0 0 Private nonguaranteed 15 1 1 49 35 24 4 208 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 141 156 127 112 111 126 126 148 Public and publicly guaranteed 129 150 125 83 96 72 87 99 Official creditors 111 129 124 81 94 67 85 96 Multilateral 58 98 68 40 49 38 45 61 of which: IBRD 13 12 3 0 0 0 0 0 IDA 3 6 11 12 7 0 1 2 Bilateral 52 31 57 41 45 30 40 35 Private creditors 19 21 0 2 3 4 3 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 8 12 0 2 3 4 3 3 Private nonguaranteed 12 5 3 29 14 54 39 49 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 84 70 58 55 70 50 49 51 Public and publicly guaranteed 81 69 58 45 61 34 36 41 Official creditors 71 65 58 44 60 33 36 41 Multilateral 26 38 26 31 49 25 23 22 of which: IBRD 6 3 0 0 0 0 0 0 IDA 4 8 8 16 10 5 5 6 Bilateral 45 27 32 13 11 9 12 19 Private creditors 10 3 0 1 1 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 7 2 0 1 1 1 0 0 Private nonguaranteed 3 1 0 10 9 16 13 9 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 475 218 -346 -77 -1,942 648 273 677 Net flows on external debt 232 87 -153 242 217 619 299 608 9. Debt restructurings Total amount rescheduled 111 258 0 31 262 4 2 0 Total amount forgiven 18 27 24 49 2,442 146 3 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 130 176 178 182 135 147 153 157 Interest 47 48 45 41 37 36 34 32 Private creditors Principal 101 100 100 100 100 60 0 0 Interest 22 18 13 9 4 1 0 0 Notes: Senegal was granted debt relief effective in 2006 under MDRI. Data for 2007 include the effects of MDRI, in the amount of $25 in thousands. 249 SERBIA 1. Summary external debt data External debt stocks .. 10,785 11,499 15,945 19,680 26,369 30,711 33,402 Long-term external debt .. 8,562 6,789 12,837 17,439 23,718 26,632 27,801 Public and publicly guaranteed .. 6,788 6,178 7,623 7,631 8,314 8,312 8,725 Private nonguaranteed .. 1,773 611 5,214 9,808 15,404 18,320 19,076 Use of IMF credit .. 84 152 866 0 0 0 1,601 Short-term external debt .. 2,139 4,558 2,242 2,241 2,651 4,079 4,000 interest arrears on long-term .. 1,396 3,668 728 584 703 704 712 Memorandum items .. 4,182 5,275 805 732 1,250 1,625 1,832 .. 6,693 6,095 7,623 7,631 8,307 8,289 8,671 .. 1,869 694 5,214 9,808 15,410 18,343 19,130 .. 0 71 223 668 511 433 2,302 External debt flows Disbursements .. 0 376 3,088 5,277 6,637 7,070 6,080 Long-term external debt .. 0 222 2,904 5,277 6,637 7,070 4,505 IMF purchases .. 0 154 185 0 0 0 1,575 Principal repayments .. 0 73 776 1,558 2,334 3,485 3,609 Long-term external debt .. 0 0 570 1,319 2,334 3,485 3,609 IMF repurchases .. 0 73 206 239 0 0 0 Net flows .. 120 51 2,827 3,861 4,594 5,012 2,383 Long-term external debt .. 0 222 2,334 3,957 4,303 3,585 895 Short-term external debt .. 120 -252 515 143 291 1,427 -87 Interest payments .. 47 47 456 589 912 1,257 1,041 Long-term external debt .. 0 0 367 504 822 1,129 910 IMF charges .. 0 29 32 6 0 0 7 Short-term external debt .. 47 18 57 79 90 128 125 2. Other non-debt resource inflows Foreign direct investment .. 45 52 2,051 4,968 3,448 2,993 1,921 Portfolio equity .. .. .. .. .. 764 -56 23 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 32.0 35.2 37.3 37.7 42.3 Japanese yen .. 2.2 2.0 0.9 0.9 0.8 0.9 0.8 Pound sterling .. 0.7 0.5 0.2 0.2 0.1 0.1 0.1 Swiss franc .. 3.6 2.8 1.9 3.4 3.2 3.1 2.8 U.S.dollars .. 19.8 24.6 63.1 58.3 56.0 55.3 51.0 4. Average terms of new commitments Official creditors Interest (%) .. 0.0 0.4 1.7 4.1 5.0 3.9 1.2 Maturity (years) .. 0.0 23.2 19.1 16.6 18.6 22.0 21.1 Grace period (years) .. 0.0 7.8 7.9 3.8 6.3 6.6 5.9 Private creditors Interest (%) .. 0.0 7.8 0.0 4.1 0.0 5.0 0.0 Maturity (years) .. 0.0 6.4 0.0 7.1 0.0 2.0 0.0 Grace period (years) .. 0.0 1.9 0.0 7.1 0.0 2.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. 6,082 24,910 28,808 38,604 47,500 41,897 Exports of goods, services & income .. .. .. .. .. 12,655 15,810 12,550 Worker remit. & comp. of employees .. .. 1,132 4,650 4,703 5,377 5,538 5,406 Imports of goods, services & income .. .. .. .. .. 22,971 28,559 19,888 Profit remittances on FDI .. .. .. .. .. 604 897 452 Current account balance .. .. .. .. .. -6,346 -9,006 -2,413 International reserves .. .. 517 5,842 11,889 14,214 11,478 15,228 6. Ratios External debt stocks to exports (%) .. .. .. .. .. 208.4 194.3 266.1 External debt stocks to GNI (%) .. .. 189.1 64.0 68.3 68.3 64.7 79.7 Debt service to exports (%) .. .. .. .. .. 25.6 30.0 37.1 Short-term to external debt stocks (%) .. 19.8 39.6 14.1 11.4 10.1 13.3 12.0 Multilateral to external debt stocks (%) .. 12.2 12.5 22.3 20.1 17.0 15.0 13.3 Reserves to external debt stocks (%) .. .. 4.5 36.6 60.4 53.9 37.4 45.6 Reserves to imports (months) .. .. .. .. .. 7.4 4.8 9.2 250 SERBIA 7. Long-term external debt Debt outstanding and disbursed .. 8,562 6,789 12,837 17,439 23,718 26,632 27,801 Public and publicly guaranteed .. 6,788 6,178 7,623 7,631 8,314 8,312 8,725 Official creditors .. 4,588 4,243 6,546 6,502 7,134 7,136 7,551 Multilateral .. 1,311 1,440 3,559 3,951 4,484 4,605 4,442 of which: IBRD .. 1,252 1,097 2,147 2,127 2,326 2,276 1,783 IDA .. 0 0 486 553 625 655 676 Bilateral .. 3,277 2,803 2,986 2,551 2,649 2,531 3,109 Private creditors .. 2,200 1,935 1,077 1,129 1,180 1,175 1,175 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 2,193 1,928 1,076 1,128 1,179 1,174 1,174 Private nonguaranteed .. 1,773 611 5,214 9,808 15,404 18,320 19,076 of which: Bonds .. 0 0 0 0 165 165 165 Disbursements .. 0 222 2,904 5,277 6,637 7,070 4,505 Public and publicly guaranteed .. 0 222 311 449 292 367 942 Official creditors .. 0 187 311 399 250 364 942 Multilateral .. 0 0 286 385 230 352 399 of which: IBRD .. 0 0 0 0 0 0 56 IDA .. 0 0 85 43 47 34 17 Bilateral .. 0 187 25 14 21 13 543 Private creditors .. 0 35 0 50 41 3 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 50 41 3 0 Private nonguaranteed .. 0 0 2,593 4,828 6,345 6,703 3,562 of which: Bonds .. 0 0 0 0 165 0 0 Principal repayments .. 0 0 570 1,319 2,334 3,485 3,609 Public and publicly guaranteed .. 0 0 48 278 184 181 155 Official creditors .. 0 0 48 278 184 179 151 Multilateral .. 0 0 31 264 91 118 85 of which: IBRD .. 0 0 17 242 17 22 0 IDA .. 0 0 0 0 0 0 0 Bilateral .. 0 0 16 13 93 61 66 Private creditors .. 0 0 0 0 0 1 4 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 1 4 Private nonguaranteed .. 0 0 522 1,041 2,149 3,305 3,454 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 0 0 367 504 822 1,129 910 Public and publicly guaranteed .. 0 0 237 264 397 347 342 Official creditors .. 0 0 194 219 351 321 297 Multilateral .. 0 0 134 143 173 184 173 of which: IBRD .. 0 0 99 106 112 96 98 IDA .. 0 0 4 4 5 5 5 Bilateral .. 0 0 60 76 178 137 124 Private creditors .. 0 0 44 45 46 26 45 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 44 45 46 26 45 Private nonguaranteed .. 0 0 129 240 425 782 568 of which: Bonds .. 0 0 0 0 7 10 10 8. Debt stock-flow reconciliation Total change in external debt stocks .. -315 599 1,623 3,735 6,689 4,342 2,691 Net flows on external debt .. 120 51 2,827 3,861 4,594 5,012 2,383 9. Debt restructurings Total amount rescheduled .. 0 0 8 0 0 0 205 Total amount forgiven .. 0 0 54 583 14 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 345 375 429 504 558 596 624 557 Interest 170 175 175 172 166 158 149 139 Private creditors Principal 4,186 3,337 2,613 1,874 1,724 1,265 1,186 542 Interest 959 757 584 439 339 249 250 131 Notes: Beginning 2006, the DRS data for Serbia exclude Montenegro. Short-term debt is based on Central Bank data. 251 SEYCHELLES 1. Summary external debt data External debt stocks 185 198 304 668 1,094 1,407 1,498 1,624 Long-term external debt 139 185 220 395 501 623 647 643 Public and publicly guaranteed 139 185 220 395 501 623 647 643 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 9 19 Short-term external debt 46 13 84 273 593 784 842 962 interest arrears on long-term 1 2 5 57 48 60 78 104 Memorandum items 9 20 21 116 101 111 112 217 139 185 220 395 501 623 647 643 0 0 0 0 0 0 0 0 22 9 32 56 248 136 104 42 External debt flows Disbursements 13 17 38 56 211 151 94 49 Long-term external debt 13 17 38 56 211 151 84 40 IMF purchases 0 0 0 0 0 0 10 9 Principal repayments 12 16 10 41 124 46 53 44 Long-term external debt 12 16 10 41 124 46 53 44 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 11 -9 71 177 416 284 81 99 Long-term external debt 1 1 29 15 87 105 31 -4 Short-term external debt 10 -10 42 162 329 179 40 94 Interest payments 9 8 11 18 53 64 39 19 Long-term external debt 5 7 7 11 29 28 21 8 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 4 1 4 7 24 36 18 10 2. Other non-debt resource inflows Foreign direct investment 20 46 24 86 146 249 241 249 Portfolio equity 0 0 .. .. .. .. 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.8 13.0 23.2 20.1 20.8 Japanese yen 0.0 0.0 2.1 1.8 1.2 1.0 1.2 1.2 Pound sterling 16.6 7.8 6.5 4.2 3.8 2.8 2.0 2.2 Swiss franc 7.1 6.0 4.5 2.9 2.5 2.0 2.1 2.1 U.S.dollars 8.4 14.1 35.6 55.0 67.5 61.3 65.6 63.8 4. Average terms of new commitments Official creditors Interest (%) 4.9 4.3 3.3 2.0 4.9 4.2 2.0 1.4 Maturity (years) 20.3 18.2 12.3 14.4 14.0 11.2 13.8 21.0 Grace period (years) 9.0 4.7 2.4 4.8 3.8 5.0 3.0 6.6 Private creditors Interest (%) 11.5 0.0 4.4 6.1 9.1 2.9 5.1 7.1 Maturity (years) 4.8 0.0 9.2 6.0 5.1 4.0 2.8 5.1 Grace period (years) 0.9 0.0 2.5 0.9 4.6 1.9 0.4 0.2 5. Major economic aggregates Gross national income (GNI) 355 489 583 844 924 954 823 655 Exports of goods, services & income 233 345 492 729 861 874 979 845 Worker remit. & comp. of employees 8 1 3 12 13 11 8 12 Imports of goods, services & income 265 350 545 935 1,038 1,187 1,449 1,187 Profit remittances on FDI 8 14 8 20 25 29 46 48 Current account balance -13 1 -43 -174 -134 -264 -407 -284 International reserves 17 27 44 56 113 41 64 191 6. Ratios External debt stocks to exports (%) 79.1 57.4 61.7 91.6 127.1 161.0 153.0 192.1 External debt stocks to GNI (%) 52.0 40.5 52.1 79.2 118.4 147.4 182.1 247.8 Debt service to exports (%) 9.1 6.9 4.2 8.0 20.6 12.6 9.4 7.4 Short-term to external debt stocks (%) 24.9 6.6 27.7 40.8 54.2 55.7 56.2 59.3 Multilateral to external debt stocks (%) 23.6 31.9 19.0 10.7 3.9 3.6 3.0 3.1 Reserves to external debt stocks (%) 9.0 13.7 14.4 8.4 10.3 2.9 4.3 11.7 Reserves to imports (months) 0.8 0.9 1.0 0.7 1.3 0.4 0.5 1.9 252 SEYCHELLES 7. Long-term external debt Debt outstanding and disbursed 139 185 220 395 501 623 647 643 Public and publicly guaranteed 139 185 220 395 501 623 647 643 Official creditors 119 149 159 224 207 210 196 209 Multilateral 44 63 58 72 42 51 44 50 of which: IBRD 6 5 3 2 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 76 85 101 152 165 159 152 159 Private creditors 19 36 61 172 294 413 450 434 of which: Bonds 0 0 0 0 200 311 305 307 Commercial banks 16 22 50 83 70 82 132 113 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 56 211 151 84 40 Public and publicly guaranteed 13 17 38 56 211 151 84 40 Official creditors 12 17 19 8 6 11 4 31 Multilateral 3 9 7 5 3 11 0 23 of which: IBRD 1 1 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 8 7 12 3 3 0 4 9 Private creditors 2 0 19 48 204 140 80 9 of which: Bonds 0 0 0 0 200 105 0 0 Commercial banks 1 0 19 45 4 35 80 9 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 41 124 46 53 44 Public and publicly guaranteed 12 16 10 41 124 46 53 44 Official creditors 5 7 5 11 42 20 15 20 Multilateral 3 4 2 2 36 4 6 18 of which: IBRD 1 1 1 1 2 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 2 3 3 9 6 16 8 2 Private creditors 8 9 5 30 82 26 38 24 of which: Bonds 0 0 0 0 0 0 2 0 Commercial banks 7 5 2 14 17 23 31 24 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 11 29 28 21 8 Public and publicly guaranteed 5 7 7 11 29 28 21 8 Official creditors 3 5 2 3 22 3 4 4 Multilateral 2 4 1 1 20 2 2 3 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 1 1 2 Private creditors 2 2 5 8 7 25 18 4 of which: Bonds 0 0 0 0 0 19 10 0 Commercial banks 2 1 4 4 2 5 7 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 24 -2 52 224 426 312 92 125 Net flows on external debt 11 -9 71 177 416 284 81 99 9. Debt restructurings Total amount rescheduled 0 0 0 26 7 0 4 10 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 30 15 15 15 14 11 11 10 Interest 3 3 3 3 2 2 2 2 Private creditors Principal 48 243 3 0 0 0 0 0 Interest 22 21 0 0 0 0 0 0 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2009. 253 SIERRA LEONE 1. Summary external debt data External debt stocks 1176.4 1219.6 1189.8 1539.7 1265.5 312.0 398.6 444.1 Long-term external debt 919.9 1027.7 972.8 1327.1 1219.9 270.4 336.4 370.9 Public and publicly guaranteed 919.9 1027.7 972.8 1327.1 1219.9 270.4 336.4 370.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 108.4 164.9 173.6 192.1 34.8 36.5 53.2 73.2 Short-term external debt 148.1 26.9 43.5 20.6 10.8 5.1 9.0 0.0 interest arrears on long-term 148.1 6.9 36.3 10.6 10.8 0.1 0.0 0.0 Memorandum items 546.9 107.6 66.0 35.3 38.5 9.0 8.6 8.4 587.9 943.6 972.8 1327.1 1219.9 270.4 336.4 370.9 332.0 84.1 0.0 0.0 0.0 0.0 0.0 0.0 18.2 47.7 65.0 19.0 10.3 59.5 32.2 82.1 External debt flows Disbursements 15.0 114.8 90.3 71.4 40.2 28.2 80.4 55.6 Long-term external debt 15.0 95.0 76.6 50.7 26.8 28.2 62.4 36.8 IMF purchases 0.0 19.8 13.7 20.7 13.4 0.0 18.0 18.8 Principal repayments 12.0 60.1 34.9 7.3 12.3 5.2 2.6 3.5 Long-term external debt 7.4 56.6 9.6 4.8 7.8 5.2 2.6 3.5 IMF repurchases 4.6 3.5 25.2 2.4 4.5 0.0 0.0 0.0 Net flows 3.0 54.7 56.8 54.2 18.0 28.0 81.8 43.1 Long-term external debt 7.6 38.4 66.9 45.9 19.1 23.0 59.8 33.3 Short-term external debt 0.0 0.0 1.4 -10.0 -10.0 5.0 4.0 -9.0 Interest payments 9.2 22.0 11.8 10.3 11.3 4.7 3.2 3.8 Long-term external debt 8.9 19.8 8.9 9.1 10.4 4.5 2.9 3.5 IMF charges 0.3 0.8 2.5 0.9 1.0 0.2 0.2 0.3 Short-term external debt 0.0 1.4 0.4 0.4 0.0 0.1 0.2 0.0 2. Other non-debt resource inflows Foreign direct investment 32.4 7.3 39.0 83.2 58.8 96.6 57.6 74.3 Portfolio equity 0.0 0.0 .. 0.0 0.0 0.0 0.0 5.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.1 10.5 9.8 6.8 5.7 Japanese yen 4.9 7.6 7.1 8.6 9.3 0.0 0.0 0.0 Pound sterling 1.4 0.5 0.6 0.3 0.4 0.0 0.0 0.0 Swiss franc 5.4 2.9 2.2 1.8 2.1 0.1 0.1 0.0 U.S.dollars 54.0 41.0 44.9 47.8 44.8 42.9 42.0 40.8 4. Average terms of new commitments Official creditors Interest (%) 0.1 0.6 0.8 0.1 0.0 1.2 0.8 1.5 Maturity (years) 24.4 32.6 39.8 47.2 25.3 22.0 44.9 32.0 Grace period (years) 10.0 7.8 10.3 9.9 7.8 5.5 10.3 8.7 Private creditors Interest (%) 9.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 579.8 818.5 616.1 1176.0 1364.2 1629.1 1915.7 1901.1 Exports of goods, services & income 210.3 129.0 62.5 267.2 316.7 377.5 352.6 334.2 Worker remit. & comp. of employees 0.0 23.7 7.1 2.4 15.6 42.0 27.5 46.7 Imports of goods, services & income 286.6 290.3 262.4 509.3 489.0 641.0 689.1 674.8 Profit remittances on FDI 50.7 11.3 1.8 41.2 27.3 121.8 76.0 39.0 Current account balance -69.4 -118.1 -112.3 -104.9 -95.0 -160.1 -225.4 -192.8 International reserves 5.4 34.6 49.2 170.5 183.9 216.6 220.2 405.0 6. Ratios External debt stocks to exports (%) 559.3 945.2 1904.6 576.3 399.6 82.7 113.1 132.9 External debt stocks to GNI (%) 202.9 149.0 193.1 130.9 92.8 19.2 20.8 23.4 Debt service to exports (%) 10.0 63.6 74.8 6.6 7.5 2.6 1.6 2.2 Short-term to external debt stocks (%) 12.6 2.2 3.7 1.3 0.9 1.6 2.3 0.0 Multilateral to external debt stocks (%) 15.4 35.6 48.4 56.1 67.3 70.3 68.5 69.4 Reserves to external debt stocks (%) 0.5 2.8 4.1 11.1 14.5 69.4 55.2 91.2 Reserves to imports (months) 0.2 1.4 2.3 4.0 4.5 4.1 3.8 7.2 254 SIERRA LEONE 7. Long-term external debt Debt outstanding and disbursed 919.9 1027.7 972.8 1327.1 1219.9 270.4 336.4 370.9 Public and publicly guaranteed 919.9 1027.7 972.8 1327.1 1219.9 270.4 336.4 370.9 Official creditors 488.5 935.5 967.5 1325.5 1219.9 270.4 336.4 370.9 Multilateral 181.7 433.6 576.0 863.6 852.1 219.4 273.1 308.2 of which: IBRD 10.6 2.9 0.0 0.0 0.0 0.0 0.0 0.0 IDA 81.3 231.3 353.7 558.6 533.5 83.6 108.4 124.3 Bilateral 306.9 501.9 391.5 461.9 367.8 51.0 63.3 62.7 Private creditors 431.4 92.2 5.3 1.6 0.1 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 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 50.7 26.8 28.2 62.4 36.8 Public and publicly guaranteed 15.0 95.0 76.6 50.7 26.8 28.2 62.4 36.8 Official creditors 11.0 95.0 76.6 50.7 26.8 28.2 62.4 36.8 Multilateral 1.3 87.3 74.4 49.5 25.5 24.3 49.0 36.8 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 18.7 16.3 14.2 25.7 15.1 Bilateral 9.6 7.7 2.2 1.3 1.4 3.9 13.4 0.0 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 4.8 7.8 5.2 2.6 3.5 Public and publicly guaranteed 7.4 56.6 9.6 4.8 7.8 5.2 2.6 3.5 Official creditors 7.4 28.2 9.6 4.8 7.8 5.2 2.6 3.5 Multilateral 2.1 3.5 7.5 1.8 5.0 2.5 1.3 2.0 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 0.2 0.4 0.0 0.0 0.0 Bilateral 5.2 24.7 2.2 3.1 2.8 2.6 1.3 1.5 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 9.1 10.4 4.5 2.9 3.5 Public and publicly guaranteed 8.9 19.8 8.9 9.1 10.4 4.5 2.9 3.5 Official creditors 3.7 19.8 8.9 9.1 10.4 4.5 2.9 3.5 Multilateral 2.1 2.9 3.5 5.9 6.5 2.8 2.1 2.4 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 3.5 3.5 0.6 0.7 0.8 Bilateral 1.5 16.9 5.4 3.1 3.9 1.7 0.8 1.1 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 -87.9 -274.2 -953.5 86.6 45.5 Net flows on external debt 3.0 54.7 56.8 54.2 18.0 28.0 81.8 43.1 9. Debt restructurings Total amount rescheduled 0.0 29.3 0.4 4.7 4.6 8.8 18.1 11.6 Total amount forgiven 0.0 329.4 0.0 34.2 253.5 958.7 7.0 3.6 Debt buyback 0.0 29.4 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 11.2 12.2 13.2 12.9 15.0 17.5 17.8 31.0 Interest 3.6 4.3 4.7 4.7 4.7 4.6 4.4 4.0 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt in 2009 are World Bank staff estimates based on reports provided by the country. Data include the effects of Paris Club debt restructuring agreement signed in 2007. Data for 2007 include the effects of MDRI and HIPC debt relief, in the amount of $525,649 in thousands. 255 SOLOMON ISLANDS 1. Summary external debt data External debt stocks 120.5 158.7 155.4 166.5 173.5 177.3 165.9 155.9 Long-term external debt 103.2 149.1 152.1 151.2 157.9 173.9 162.8 154.4 Public and publicly guaranteed 103.2 100.3 120.7 144.2 150.9 148.1 137.1 132.9 Private nonguaranteed 0.0 48.8 31.5 7.0 7.0 25.9 25.8 21.5 Use of IMF credit 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 16.6 9.7 3.2 15.3 15.6 3.4 3.1 1.5 interest arrears on long-term 0.1 8.4 1.8 12.3 13.6 3.4 3.1 1.5 Memorandum items 0.2 11.4 3.3 11.4 13.7 13.0 9.4 8.9 103.2 100.3 120.7 144.2 150.9 148.1 137.1 132.9 0.0 48.8 31.5 7.0 7.0 25.9 25.8 21.5 2.5 12.3 4.0 0.4 0.6 0.0 0.0 0.0 External debt flows Disbursements 5.2 11.8 3.4 5.7 5.1 24.5 1.1 13.7 Long-term external debt 5.2 11.8 3.4 5.7 5.1 24.5 1.1 13.7 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 7.9 6.5 6.2 10.0 2.8 10.7 10.8 7.6 Long-term external debt 7.0 6.5 6.2 10.0 2.8 10.7 10.8 7.6 IMF repurchases 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 13.8 4.5 -4.4 -2.3 1.2 11.8 -9.7 6.1 Long-term external debt -1.8 5.3 -2.9 -4.3 2.2 13.8 -9.7 6.1 Short-term external debt 16.5 -0.8 -1.5 2.0 -1.0 -2.0 0.0 0.0 Interest payments 3.7 1.6 2.9 4.0 1.5 3.3 4.3 2.4 Long-term external debt 3.1 1.5 2.7 3.9 1.3 3.2 4.3 2.4 IMF charges 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.5 0.1 0.1 0.1 0.2 0.1 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 10.4 2.0 13.0 18.6 34.1 64.4 94.9 117.6 Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.1 7.6 9.2 7.2 7.3 Japanese yen 4.8 3.8 3.4 2.8 2.6 0.0 0.0 0.0 Pound sterling 13.1 6.4 2.9 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 52.0 53.9 67.1 73.7 73.9 75.4 78.0 77.7 4. Average terms of new commitments Official creditors Interest (%) 2.2 3.4 0.8 0.0 0.0 0.0 0.0 3.5 Maturity (years) 17.7 18.9 40.0 0.0 0.0 0.0 0.0 24.5 Grace period (years) 11.5 3.6 10.5 0.0 0.0 0.0 0.0 3.5 Private creditors Interest (%) 0.0 7.8 0.0 5.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 10.2 0.0 5.1 4.0 0.0 0.0 0.0 Grace period (years) 0.0 0.7 0.0 0.0 0.6 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 207.3 320.7 435.5 415.5 441.8 549.7 551.5 480.8 Exports of goods, services & income 97.8 211.3 128.8 154.9 179.6 237.7 289.7 248.8 Worker remit. & comp. of employees .. .. 4.3 7.2 20.4 20.4 20.4 2.4 Imports of goods, services & income 163.6 239.4 176.4 250.1 294.9 411.4 524.0 476.2 Profit remittances on FDI 2.0 6.8 8.3 5.3 23.6 41.0 103.5 125.4 Current account balance -27.8 8.3 -41.0 -90.2 -42.7 -80.9 -124.4 -120.8 International reserves 17.6 15.9 32.0 95.4 104.4 119.1 89.5 146.0 6. Ratios External debt stocks to exports (%) 123.2 75.1 120.6 107.5 96.6 74.6 57.3 62.7 External debt stocks to GNI (%) 58.1 49.5 35.7 40.1 39.3 32.3 30.1 32.4 Debt service to exports (%) 11.8 3.8 7.1 9.1 2.4 5.9 5.2 4.0 Short-term to external debt stocks (%) 13.8 6.1 2.1 9.2 9.0 1.9 1.8 1.0 Multilateral to external debt stocks (%) 51.0 50.1 64.6 64.3 65.6 68.6 68.5 71.5 Reserves to external debt stocks (%) 14.6 10.0 20.6 57.3 60.2 67.1 54.0 93.6 Reserves to imports (months) 1.3 0.8 2.2 4.6 4.2 3.5 2.1 3.7 256 SOLOMON ISLANDS 7. Long-term external debt Debt outstanding and disbursed 103.2 149.1 152.1 151.2 157.9 173.9 162.8 154.4 Public and publicly guaranteed 103.2 100.3 120.7 144.2 150.9 148.1 137.1 132.9 Official creditors 89.1 95.1 117.3 143.8 149.9 147.5 136.6 132.7 Multilateral 61.5 79.5 100.4 107.0 113.7 121.7 113.7 111.5 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 43.4 44.9 45.8 44.5 43.7 Bilateral 27.7 15.6 16.9 36.8 36.2 25.8 23.0 21.2 Private creditors 14.1 5.2 3.4 0.4 1.0 0.6 0.4 0.2 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 7.0 7.0 25.9 25.8 21.5 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 5.7 5.1 24.5 1.1 13.7 Public and publicly guaranteed 5.2 9.1 3.4 5.7 5.1 4.5 0.1 0.0 Official creditors 5.2 4.8 3.4 5.3 4.4 4.5 0.1 0.0 Multilateral 5.2 4.8 1.4 5.3 4.4 4.5 0.1 0.0 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 0.9 0.3 0.0 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 0.4 0.6 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 2.8 0.0 0.0 0.0 20.0 1.0 13.7 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 10.0 2.8 10.7 10.8 7.6 Public and publicly guaranteed 7.0 1.8 2.7 5.8 2.8 8.3 10.8 6.5 Official creditors 3.9 1.3 2.7 3.2 2.8 7.9 10.7 6.3 Multilateral 0.5 0.6 1.1 2.0 2.1 2.6 7.8 4.6 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 0.8 0.9 1.0 1.0 1.1 Bilateral 3.4 0.7 1.6 1.2 0.6 5.3 2.8 1.7 Private creditors 3.1 0.5 0.0 2.6 0.1 0.4 0.1 0.2 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 4.2 0.0 2.4 0.0 1.1 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 3.9 1.3 3.2 4.3 2.4 Public and publicly guaranteed 3.1 0.9 0.8 1.7 1.3 3.2 4.3 1.8 Official creditors 1.6 0.8 0.8 1.7 1.3 3.2 4.3 1.8 Multilateral 0.6 0.5 0.7 0.8 0.8 0.9 2.8 1.0 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 0.3 0.3 0.3 0.4 0.3 Bilateral 1.0 0.3 0.1 0.9 0.4 2.3 1.5 0.8 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 2.3 0.0 0.0 0.0 0.5 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 -10.6 7.1 3.8 -11.4 -10.0 Net flows on external debt 13.8 4.5 -4.4 -2.3 1.2 11.8 -9.7 6.1 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 7.2 7.3 7.1 6.8 6.8 6.4 6.4 6.2 Interest 1.9 1.8 1.7 1.6 1.5 1.4 1.3 1.2 Private creditors Principal 4.1 2.3 2.1 1.7 2.1 1.1 0.9 1.3 Interest 1.1 1.0 1.5 0.9 0.7 0.6 0.5 0.4 257 SOMALIA 1. Summary external debt data External debt stocks 2,370 2,678 2,562 2,750 2,838 2,944 2,949 2,973 Long-term external debt 1,926 1,961 1,825 1,882 1,923 1,979 1,983 1,987 Public and publicly guaranteed 1,926 1,961 1,825 1,882 1,923 1,979 1,983 1,987 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 159 166 146 160 168 177 173 176 Short-term external debt 285 551 591 709 747 788 793 810 interest arrears on long-term 255 521 569 709 747 788 793 810 Memorandum items 674 1,135 1,241 1,460 1,523 1,597 1,628 1,665 1,926 1,961 1,825 1,882 1,923 1,979 1,983 1,987 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 0 0 0 0 0 Long-term external debt 43 0 0 0 0 0 0 0 Short-term external debt 18 0 -7 0 0 0 0 0 Interest payments 5 1 0 0 0 0 2 0 Long-term external debt 4 0 0 0 0 0 0 0 IMF charges 1 1 0 0 0 0 2 0 Short-term external debt 0 0 0 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 6 1 0 24 96 141 87 108 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.6 6.1 6.6 6.3 6.5 Japanese yen 2.4 3.1 3.0 2.8 2.7 2.8 3.5 3.4 Pound sterling 0.2 0.1 0.1 0.1 0.2 0.2 0.1 0.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.5 50.2 52.0 51.8 51.4 50.6 50.4 50.4 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 46.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 10.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 835 .. .. .. .. .. .. .. Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & income .. .. .. .. .. .. .. .. Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 283.9 .. .. .. .. .. .. .. Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 12.0 20.6 23.1 25.8 26.3 26.8 26.9 27.2 Multilateral to external debt stocks (%) 31.8 29.4 27.7 27.5 27.4 27.5 27.2 27.1 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 258 SOMALIA 7. Long-term external debt Debt outstanding and disbursed 1,926 1,961 1,825 1,882 1,923 1,979 1,983 1,987 Public and publicly guaranteed 1,926 1,961 1,825 1,882 1,923 1,979 1,983 1,987 Official creditors 1,889 1,924 1,792 1,846 1,886 1,940 1,946 1,950 Multilateral 754 786 709 755 779 808 803 805 of which: IBRD 0 0 0 0 0 0 0 0 IDA 419 432 396 422 435 448 446 448 Bilateral 1,136 1,138 1,083 1,091 1,107 1,132 1,143 1,145 Private creditors 37 37 33 35 37 38 37 38 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 -98 87 106 5 24 Net flows on external debt 58 0 -7 0 0 0 0 0 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 35 35 32 32 33 28 28 28 Interest 7 6 6 5 5 4 4 4 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates based on the original terms of the loans. 259 SOUTH AFRICA 1. Summary external debt data External debt stocks .. 25,358 24,861 31,070 35,523 43,610 41,943 42,101 Long-term external debt .. 14,772 15,308 21,360 20,263 27,052 24,006 28,827 Public and publicly guaranteed .. 9,837 9,088 15,633 13,914 14,101 13,173 15,063 Private nonguaranteed .. 4,935 6,220 5,727 6,349 12,951 10,833 13,764 Use of IMF credit 0 913 0 0 0 0 0 0 Short-term external debt .. 9,673 9,553 9,710 15,260 16,558 17,937 13,274 interest arrears on long-term .. 0 0 0 0 0 0 0 Memorandum items .. 0 0 0 0 0 0 0 .. 9,837 8,054 15,633 13,914 14,101 13,173 15,063 .. 4,935 7,254 5,727 6,349 12,951 10,833 13,764 .. 3,225 2,223 2,270 1,876 1,870 608 5,715 External debt flows Disbursements .. 3,549 3,611 5,641 4,877 8,727 1,263 5,987 Long-term external debt .. 3,549 3,611 5,641 4,877 8,727 1,263 5,987 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments .. 2,070 2,609 2,034 3,831 3,353 2,789 1,984 Long-term external debt .. 2,070 2,609 2,034 3,831 3,353 2,789 1,984 IMF repurchases 0 0 0 0 0 0 0 0 Net flows .. 3,412 -260 5,408 6,597 6,672 -147 -660 Long-term external debt .. 1,478 1,002 3,607 1,047 5,374 -1,526 4,003 Short-term external debt .. 1,934 -1,262 1,801 5,550 1,298 1,379 -4,663 Interest payments .. 1,320 1,252 1,198 1,639 1,911 1,765 1,605 Long-term external debt .. 855 743 846 1,183 1,330 1,248 1,136 IMF charges 0 50 0 0 0 0 0 0 Short-term external debt .. 415 509 352 456 581 517 468 2. Other non-debt resource inflows Foreign direct investment .. 1,248 969 6,522 -184 5,737 9,645 5,628 Portfolio equity .. 2,914 4,169 7,230 14,959 8,670 -4,707 9,357 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.3 30.9 26.7 21.6 19.6 Japanese yen .. 3.0 3.8 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 90.6 92.0 85.0 67.1 71.4 76.6 79.1 4. Average terms of new commitments Official creditors Interest (%) .. 0.0 5.9 0.0 0.0 0.0 0.0 1.9 Maturity (years) .. 0.0 12.3 0.0 0.0 0.0 0.0 19.8 Grace period (years) .. 0.0 4.0 0.0 0.0 0.0 0.0 5.2 Private creditors Interest (%) .. 5.4 6.1 3.9 6.5 6.8 3.4 6.1 Maturity (years) .. 14.3 9.8 6.4 8.9 10.1 2.8 9.9 Grace period (years) .. 1.8 2.3 2.9 8.9 9.9 0.8 7.6 5. Major economic aggregates Gross national income (GNI) .. 148,238 129,704 242,122 255,872 276,534 267,509 279,667 Exports of goods, services & income .. 35,538 39,507 72,202 84,117 96,620 104,867 82,541 Worker remit. & comp. of employees .. 105 344 658 734 834 823 902 Imports of goods, services & income .. 37,386 38,771 78,267 95,499 114,841 122,618 91,151 Profit remittances on FDI .. 535 2,329 4,320 4,843 8,666 8,031 5,279 Current account balance .. -2,493 -191 -8,518 -13,745 -20,572 -20,084 -11,295 International reserves .. 4,464 7,702 20,624 25,593 32,919 34,070 39,603 6. Ratios External debt stocks to exports (%) .. 71.4 62.9 43.0 42.2 45.1 40.0 51.0 External debt stocks to GNI (%) .. 17.1 19.2 12.8 13.9 15.8 15.7 15.1 Debt service to exports (%) .. 9.5 9.8 4.5 6.5 5.4 4.3 9.3 Short-term to external debt stocks (%) .. 38.1 38.4 31.3 43.0 38.0 42.8 31.5 Multilateral to external debt stocks (%) .. .. 0.6 0.9 0.9 0.7 0.6 0.5 Reserves to external debt stocks (%) .. 17.6 31.0 66.4 72.0 75.5 81.2 94.1 Reserves to imports (months) .. 1.4 2.4 3.2 3.2 3.4 3.3 5.2 260 SOUTH AFRICA 7. Long-term external debt Debt outstanding and disbursed .. 14,772 15,308 21,360 20,263 27,052 24,006 28,827 Public and publicly guaranteed .. 9,837 9,088 15,633 13,914 14,101 13,173 15,063 Official creditors .. 0 145 286 316 291 259 227 Multilateral .. 0 145 286 316 291 259 227 of which: IBRD 0 0 3 31 29 27 26 21 IDA 0 0 0 0 0 0 0 0 Bilateral .. 0 0 0 0 0 0 0 Private creditors .. 9,837 8,943 15,347 13,598 13,810 12,914 14,836 of which: Bonds .. 2,454 4,749 7,132 6,791 7,593 7,429 9,279 Commercial banks .. 3,978 1,973 7,271 6,009 5,563 4,977 5,195 Private nonguaranteed .. 4,935 6,220 5,727 6,349 12,951 10,833 13,764 of which: Bonds .. 350 1,110 1,307 1,484 6,715 6,017 6,049 Disbursements .. 3,549 3,611 5,641 4,877 8,727 1,263 5,987 Public and publicly guaranteed .. 3,199 1,597 2,678 2,075 1,870 611 2,980 Official creditors .. 0 91 58 49 0 3 0 Multilateral .. 0 91 58 49 0 3 0 of which: IBRD 0 0 3 9 0 0 3 0 IDA 0 0 0 0 0 0 0 0 Bilateral .. 0 0 0 0 0 0 0 Private creditors .. 3,199 1,506 2,620 2,026 1,870 608 2,980 of which: Bonds .. 391 765 0 1,876 1,670 0 2,000 Commercial banks .. 830 420 2,620 150 200 608 980 Private nonguaranteed .. 350 2,014 2,963 2,802 6,857 652 3,007 of which: Bonds .. 350 712 1,307 0 5,587 0 0 Principal repayments .. 2,070 2,609 2,034 3,831 3,353 2,789 1,984 Public and publicly guaranteed .. 1,168 1,627 1,780 1,729 1,855 1,465 1,276 Official creditors .. 0 0 27 26 26 26 38 Multilateral .. 0 0 27 26 26 26 38 of which: IBRD 0 0 0 1 2 3 3 5 IDA 0 0 0 0 0 0 0 0 Bilateral .. 0 0 0 0 0 0 0 Private creditors .. 1,168 1,627 1,753 1,703 1,829 1,439 1,238 of which: Bonds .. 10 284 0 300 1,222 0 250 Commercial banks .. 719 949 1,608 1,257 462 1,294 843 Private nonguaranteed .. 902 982 254 2,102 1,498 1,324 708 of which: Bonds .. 0 0 0 0 1,390 698 0 Interest payments .. 855 743 846 1,183 1,330 1,248 1,136 Public and publicly guaranteed .. 597 546 635 886 917 817 676 Official creditors .. 0 1 12 15 18 16 10 Multilateral .. 0 1 12 15 18 16 10 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 .. 597 545 623 871 899 801 666 of which: Bonds .. 188 275 347 409 520 523 542 Commercial banks .. 245 130 212 408 333 241 95 Private nonguaranteed .. 258 196 212 297 413 431 460 of which: Bonds .. 0 27 61 89 132 241 241 8. Debt stock-flow reconciliation Total change in external debt stocks .. 3,687 954 3,958 4,453 8,087 -1,667 158 Net flows on external debt .. 3,412 -260 5,408 6,597 6,672 -147 -660 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 1,222 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 43 40 36 26 23 205 205 195 Interest 2 9 19 29 38 45 47 44 Private creditors Principal 4,215 2,788 5,116 4,824 3,698 1,581 1,918 972 Interest 2,025 1,861 1,682 1,276 859 605 426 281 Notes: Data on long-term public and publicly guaranteed, long-term private nonguaranteed, and short-term debt for 2009 are World Bank staff estimates based on aggregate information provided by the authority. 261 SRI LANKA 1. Summary external debt data External debt stocks 5,863 8,395 9,089 11,373 11,888 14,369 15,611 17,208 Long-term external debt 5,049 7,264 8,244 10,000 10,788 12,474 13,343 14,614 Public and publicly guaranteed 4,947 7,175 7,876 9,612 10,295 11,836 12,609 13,647 Private nonguaranteed 102 90 368 388 493 639 734 967 Use of IMF credit 410 595 161 381 244 251 169 721 Short-term external debt 405 535 685 992 855 1,643 2,100 1,873 interest arrears on long-term 11 35 112 0 0 11 13 24 Memorandum items 0 42 216 0 0 9 12 72 4,854 7,055 7,769 9,612 10,295 11,836 12,609 13,647 194 210 476 388 493 639 734 967 837 406 448 938 1,208 2,190 1,975 2,348 External debt flows Disbursements 545 671 735 1,082 1,049 1,698 1,235 2,846 Long-term external debt 485 671 735 929 1,049 1,698 1,235 2,209 IMF purchases 61 0 0 153 0 0 0 638 Principal repayments 214 280 539 267 661 540 882 1,065 Long-term external debt 167 246 453 228 508 535 804 968 IMF repurchases 47 34 86 38 154 5 78 97 Net flows 331 385 -22 1,160 251 1,934 808 1,544 Long-term external debt 318 425 281 701 542 1,163 432 1,241 Short-term external debt 0 -6 -218 344 -137 777 455 -238 Interest payments 170 172 248 154 267 297 349 353 Long-term external debt 122 145 213 106 208 218 286 325 IMF charges 21 3 1 11 13 11 8 3 Short-term external debt 27 24 34 37 46 69 56 25 2. Other non-debt resource inflows Foreign direct investment 43 56 173 272 480 603 752 404 Portfolio equity 0 .. .. -216 -304 -322 -488 -382 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.8 9.1 9.5 9.2 9.3 Japanese yen 22.7 28.6 30.0 30.4 29.0 26.2 31.5 29.4 Pound sterling 3.2 1.8 0.5 0.1 0.1 0.1 0.1 0.0 Swiss franc 0.9 0.4 0.2 0.0 0.0 0.0 0.0 0.0 U.S.dollars 36.2 35.9 38.4 40.8 41.1 44.3 40.3 42.7 4. Average terms of new commitments Official creditors Interest (%) 1.4 3.3 2.4 1.6 3.0 3.3 2.1 2.6 Maturity (years) 36.4 29.7 32.0 28.1 24.3 23.5 21.0 20.4 Grace period (years) 10.1 8.3 8.5 7.4 7.0 7.0 7.6 5.5 Private creditors Interest (%) 8.0 4.8 6.6 5.4 4.8 7.4 3.1 7.2 Maturity (years) 9.9 11.3 10.4 8.4 7.5 5.9 9.9 5.6 Grace period (years) 1.6 1.9 1.3 3.0 3.3 4.0 3.4 5.1 5. Major economic aggregates Gross national income (GNI) 7,974 12,860 16,016 24,107 27,892 32,010 39,746 41,494 Exports of goods, services & income 2,386 4,840 6,527 7,963 8,819 9,864 10,338 9,099 Worker remit. & comp. of employees 401 809 1,166 1,991 2,185 2,527 2,947 3,363 Imports of goods, services & income 3,224 6,342 8,554 10,441 12,321 13,575 16,889 12,318 Profit remittances on FDI 25 72 109 115 362 349 470 230 Current account balance -298 -770 -1,044 -650 -1,498 -1,401 -3,885 -215 International reserves 447 2,112 1,131 2,735 2,832 3,518 2,617 4,801 6. Ratios External debt stocks to exports (%) 245.8 173.4 139.3 142.8 134.8 145.7 151.0 189.1 External debt stocks to GNI (%) 73.5 65.3 56.8 47.2 42.6 44.9 39.3 41.5 Debt service to exports (%) 16.1 9.3 12.1 5.3 10.5 8.5 11.9 15.6 Short-term to external debt stocks (%) 6.9 6.4 7.5 8.7 7.2 11.4 13.5 10.9 Multilateral to external debt stocks (%) 27.7 34.0 37.5 40.0 41.6 37.3 35.6 34.1 Reserves to external debt stocks (%) 7.6 25.2 12.4 24.0 23.8 24.5 16.8 27.9 Reserves to imports (months) 1.7 4.0 1.6 3.1 2.8 3.1 1.9 4.7 262 SRI LANKA 7. Long-term external debt Debt outstanding and disbursed 5,049 7,264 8,244 10,000 10,788 12,474 13,343 14,614 Public and publicly guaranteed 4,947 7,175 7,876 9,612 10,295 11,836 12,609 13,647 Official creditors 4,349 6,493 6,934 8,983 9,583 10,373 11,282 11,929 Multilateral 1,623 2,858 3,412 4,554 4,945 5,362 5,559 5,875 of which: IBRD 82 49 13 0 0 0 0 0 IDA 864 1,463 1,610 2,095 2,245 2,357 2,381 2,487 Bilateral 2,726 3,635 3,522 4,429 4,638 5,011 5,722 6,054 Private creditors 598 681 942 629 713 1,463 1,327 1,718 of which: Bonds 0 0 65 65 65 565 500 1,000 Commercial banks 259 324 359 443 559 800 731 648 Private nonguaranteed 102 90 368 388 493 639 734 967 of which: Bonds 0 0 0 100 100 100 100 0 Disbursements 485 671 735 929 1,049 1,698 1,235 2,209 Public and publicly guaranteed 485 671 565 818 918 1,524 1,079 1,822 Official creditors 396 469 348 670 767 754 786 1,160 Multilateral 234 197 123 347 328 266 374 424 of which: IBRD 1 0 0 0 0 0 0 0 IDA 127 106 47 113 100 74 95 147 Bilateral 162 272 225 322 439 488 412 736 Private creditors 89 201 218 149 151 769 293 661 of which: Bonds 0 0 0 0 0 500 0 500 Commercial banks 59 92 44 138 148 268 290 155 Private nonguaranteed 0 0 169 111 131 174 156 387 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 167 246 453 228 508 535 804 968 Public and publicly guaranteed 165 244 439 209 482 507 743 814 Official creditors 88 148 216 123 400 450 518 557 Multilateral 21 26 50 84 100 114 146 163 of which: IBRD 7 7 5 1 0 0 0 0 IDA 3 8 18 40 43 49 55 56 Bilateral 68 122 167 40 300 336 372 394 Private creditors 76 96 223 86 82 57 225 257 of which: Bonds 0 0 50 0 0 0 65 0 Commercial banks 29 54 94 53 45 50 152 249 Private nonguaranteed 2 2 14 19 26 28 61 154 of which: Bonds 0 0 0 0 0 0 0 100 Interest payments 122 145 213 106 208 218 286 325 Public and publicly guaranteed 120 144 178 84 184 191 251 285 Official creditors 77 112 125 65 156 164 178 227 Multilateral 19 29 32 46 58 57 65 58 of which: IBRD 8 5 1 0 0 0 0 0 IDA 5 11 12 17 17 17 19 17 Bilateral 58 84 93 19 99 108 113 170 Private creditors 43 32 54 19 28 27 73 58 of which: Bonds 0 0 6 4 5 0 46 43 Commercial banks 16 19 28 12 19 26 25 14 Private nonguaranteed 2 1 35 22 24 26 35 40 of which: Bonds 0 0 0 7 7 7 7 7 8. Debt stock-flow reconciliation Total change in external debt stocks 682 435 -710 330 515 2,482 1,242 1,597 Net flows on external debt 331 385 -22 1,160 251 1,934 808 1,544 9. Debt restructurings Total amount rescheduled 0 0 0 265 0 0 0 0 Total amount forgiven 0 7 9 2 0 1 8 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 585 620 685 744 786 868 894 894 Interest 206 218 223 222 213 202 190 178 Private creditors Principal 303 273 756 198 157 641 125 109 Interest 116 134 122 70 63 38 15 10 263 ST. KITTS AND NEVIS 1. Summary external debt data External debt stocks 44.2 55.4 156.1 292.2 290.1 271.1 247.0 226.6 Long-term external debt 44.2 54.2 153.1 291.9 289.2 270.9 246.6 222.3 Public and publicly guaranteed 44.2 54.2 153.1 291.9 289.2 270.9 246.6 222.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 2.1 0.0 0.0 0.0 0.0 3.5 Short-term external debt 0.0 1.2 0.8 0.2 0.9 0.2 0.5 0.8 interest arrears on long-term 0.0 1.2 0.8 0.2 0.9 0.2 0.5 0.8 Memorandum items 0.0 0.7 0.4 0.6 0.6 0.1 10.0 11.6 40.7 52.9 153.1 291.9 289.2 270.9 246.6 222.3 3.4 1.3 0.0 0.0 0.0 0.0 0.0 0.0 5.5 11.4 32.4 15.3 16.6 8.4 0.0 0.0 External debt flows Disbursements 7.3 5.6 32.1 7.0 23.2 8.9 4.4 6.5 Long-term external debt 7.3 5.6 32.1 7.0 23.2 8.9 4.4 3.1 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.4 Principal repayments 1.5 4.8 12.4 26.5 27.0 28.6 28.2 27.4 Long-term external debt 1.5 4.8 12.4 26.5 27.0 28.6 28.2 27.4 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 5.8 0.9 19.7 -19.5 -3.7 -19.8 -23.8 -20.8 Long-term external debt 5.8 0.9 19.7 -19.5 -3.7 -19.8 -23.8 -24.3 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.4 1.9 7.2 20.5 19.3 19.3 16.6 13.9 Long-term external debt 1.4 1.9 7.1 20.5 19.3 19.3 16.6 13.8 IMF charges 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 48.8 20.5 96.2 93.0 110.4 134.5 177.9 133.6 Portfolio equity 0.0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.5 2.3 2.5 2.2 2.4 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 16.3 7.4 1.5 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 37.8 51.4 79.6 84.7 84.7 84.5 85.0 84.7 4. Average terms of new commitments Official creditors Interest (%) 4.5 3.7 4.8 2.0 5.1 6.4 0.0 0.0 Maturity (years) 38.0 19.1 16.5 20.4 20.2 19.5 0.0 0.0 Grace period (years) 9.0 5.2 4.5 3.7 3.6 4.8 0.0 0.0 Private creditors Interest (%) 2.0 0.0 7.0 0.0 2.5 0.0 0.0 0.0 Maturity (years) 5.8 0.0 9.7 0.0 8.0 0.0 0.0 0.0 Grace period (years) 1.3 0.0 1.1 0.0 2.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 154.5 219.8 296.1 403.6 454.8 481.4 559.6 511.7 Exports of goods, services & income 85.7 125.3 155.5 237.3 249.0 245.4 239.3 198.1 Worker remit. & comp. of employees 19.3 20.2 27.1 33.5 36.4 40.3 44.1 40.5 Imports of goods, services & income 140.1 189.9 284.4 325.9 366.3 385.9 453.2 423.0 Profit remittances on FDI 5.0 14.4 21.2 20.3 20.2 24.0 23.4 21.9 Current account balance -47.0 -45.5 -66.2 -64.7 -85.1 -111.3 -180.8 -184.8 International reserves 16.3 33.5 45.2 71.6 88.7 95.8 110.4 136.4 6. Ratios External debt stocks to exports (%) 51.6 44.2 100.4 123.1 116.5 110.5 103.2 114.4 External debt stocks to GNI (%) 28.6 25.2 52.7 72.4 63.8 56.3 44.1 44.3 Debt service to exports (%) 3.4 5.3 12.6 19.8 18.6 19.5 18.7 20.8 Short-term to external debt stocks (%) 0.1 2.2 0.5 0.1 0.3 0.1 0.2 0.4 Multilateral to external debt stocks (%) 45.2 53.4 34.5 34.0 36.7 39.2 41.5 43.2 Reserves to external debt stocks (%) 36.8 60.4 29.0 24.5 30.6 35.3 44.7 60.2 Reserves to imports (months) 1.4 2.1 1.9 2.6 2.9 3.0 2.9 3.9 264 ST. KITTS AND NEVIS 7. Long-term external debt Debt outstanding and disbursed 44.2 54.2 153.1 291.9 289.2 270.9 246.6 222.3 Public and publicly guaranteed 44.2 54.2 153.1 291.9 289.2 270.9 246.6 222.3 Official creditors 41.4 48.6 102.7 156.1 166.0 160.9 150.0 138.1 Multilateral 20.0 29.6 53.8 99.2 106.4 106.2 102.6 98.0 of which: IBRD 0.0 1.1 4.5 13.0 13.2 13.3 13.2 12.4 IDA 0.0 1.6 1.4 1.4 1.4 1.4 1.4 1.4 Bilateral 21.5 19.0 48.9 56.8 59.6 54.7 47.5 40.1 Private creditors 2.7 5.6 50.4 135.9 123.2 110.0 96.5 84.2 of which: Bonds 0.0 0.0 0.0 29.1 29.1 29.1 29.1 29.1 Commercial banks 0.0 0.0 43.2 106.2 94.1 80.9 67.5 55.1 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 7.3 5.6 32.1 7.0 23.2 8.9 4.4 3.1 Public and publicly guaranteed 7.3 5.6 32.1 7.0 23.2 8.9 4.4 3.1 Official creditors 7.3 5.0 7.9 7.0 22.6 8.9 4.4 3.1 Multilateral 2.4 3.8 7.2 7.0 11.5 5.7 4.4 3.1 of which: IBRD 0.0 0.3 1.1 0.8 1.4 2.4 2.6 1.7 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 4.9 1.3 0.7 0.0 11.2 3.2 0.0 0.0 Private creditors 0.0 0.6 24.2 0.0 0.6 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 24.2 0.0 0.6 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 1.5 4.8 12.4 26.5 27.0 28.6 28.2 27.4 Public and publicly guaranteed 1.5 4.8 12.4 26.5 27.0 28.6 28.2 27.4 Official creditors 1.1 3.3 4.8 12.9 13.6 15.4 14.7 15.0 Multilateral 0.7 1.5 2.1 4.4 5.2 6.9 7.5 7.9 of which: IBRD 0.0 0.0 0.1 1.0 1.3 2.2 2.7 2.5 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 0.3 1.8 2.7 8.5 8.5 8.6 7.2 7.1 Private creditors 0.4 1.5 7.6 13.6 13.3 13.2 13.5 12.3 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 12.3 12.7 13.2 13.5 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 Interest payments 1.4 1.9 7.1 20.5 19.3 19.3 16.6 13.8 Public and publicly guaranteed 1.4 1.9 7.1 20.5 19.3 19.3 16.6 13.8 Official creditors 1.4 1.5 4.1 7.6 7.7 8.7 7.1 6.1 Multilateral 0.7 1.0 2.0 3.7 4.2 5.0 4.0 3.6 of which: IBRD 0.0 0.1 0.3 0.7 0.7 0.8 0.6 0.4 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 0.7 0.5 2.2 3.9 3.6 3.7 3.1 2.5 Private creditors 0.0 0.4 3.0 12.9 11.5 10.6 9.4 7.7 of which: Bonds 0.0 0.0 0.0 2.2 2.4 2.4 2.4 1.8 Commercial banks 0.0 0.0 2.3 10.5 9.1 8.2 7.0 5.9 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 -21.7 -2.1 -18.9 -24.1 -20.4 Net flows on external debt 5.8 0.9 19.7 -19.5 -3.7 -19.8 -23.8 -20.8 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 19.3 19.0 18.5 14.0 11.1 10.7 10.0 9.1 Interest 4.1 3.4 2.8 2.2 1.9 1.7 1.5 1.3 Private creditors Principal 11.8 14.1 18.1 22.2 2.8 2.5 1.4 0.8 Interest 5.7 5.0 3.1 2.0 1.0 0.7 0.6 0.5 Notes: Data on long-term public and publicly-guaranteed debt for 2009 are World Bank staff estimates based on reports provided by the country. 265 ST. LUCIA 1. Summary external debt data External debt stocks 79.2 128.3 221.3 411.0 403.7 509.2 867.1 416.1 Long-term external debt 72.1 111.3 153.5 235.0 286.7 335.8 352.2 343.7 Public and publicly guaranteed 72.1 111.3 153.5 235.0 286.7 335.8 352.2 343.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.8 Short-term external debt 7.0 16.9 67.8 176.0 117.0 173.3 514.9 61.7 interest arrears on long-term 0.8 0.0 0.0 0.0 0.0 0.3 0.9 2.7 Memorandum items 0.1 0.0 0.0 0.0 0.0 0.4 0.0 2.7 72.1 111.3 153.5 235.0 286.7 335.8 352.2 343.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34.9 50.4 65.3 8.2 44.4 9.8 5.4 19.8 External debt flows Disbursements 8.0 11.5 48.7 11.7 65.8 24.1 11.5 28.2 Long-term external debt 8.0 11.5 48.7 11.7 65.8 24.1 11.5 17.5 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.6 Principal repayments 3.2 6.2 20.9 14.2 17.8 26.4 32.4 26.7 Long-term external debt 3.2 6.2 20.9 14.2 17.8 26.4 32.4 26.7 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 7.0 12.3 40.3 64.5 -11.1 53.8 320.1 -453.5 Long-term external debt 4.8 5.4 27.8 -2.5 47.9 -2.2 -20.9 -9.1 Short-term external debt 2.2 6.9 12.5 67.0 -59.0 56.0 341.0 -455.0 Interest payments 3.1 5.7 9.2 17.5 16.3 21.9 27.4 17.6 Long-term external debt 2.8 4.8 6.4 12.8 12.6 16.4 17.1 16.1 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.3 0.9 2.8 4.8 3.7 5.5 10.3 1.5 2. Other non-debt resource inflows Foreign direct investment 44.8 32.8 53.7 78.2 233.9 271.9 161.2 156.5 Portfolio equity 0.2 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.8 2.7 3.1 1.5 1.2 Japanese yen 4.0 2.4 0.3 0.0 0.0 0.0 0.0 0.0 Pound sterling 40.3 13.7 2.1 0.2 0.0 0.0 0.0 0.0 Swiss franc 1.1 0.5 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 32.8 53.4 55.0 71.4 59.3 63.1 66.6 64.0 4. Average terms of new commitments Official creditors Interest (%) 4.3 4.7 6.0 2.5 0.0 0.8 0.8 3.4 Maturity (years) 24.1 24.8 22.7 24.9 0.0 34.6 34.3 14.0 Grace period (years) 8.2 7.1 5.5 7.8 0.0 10.1 9.8 0.8 Private creditors Interest (%) 0.0 0.0 8.7 0.0 7.2 0.0 0.0 7.2 Maturity (years) 0.0 0.0 13.2 0.0 10.3 0.0 0.0 6.0 Grace period (years) 0.0 0.0 13.2 0.0 10.3 0.0 0.0 6.0 5. Major economic aggregates Gross national income (GNI) 369.2 521.2 662.9 785.5 876.4 889.9 907.0 872.8 Exports of goods, services & income 287.5 385.4 380.6 533.0 451.8 469.5 537.5 537.8 Worker remit. & comp. of employees 16.1 23.1 26.4 29.5 30.3 31.1 31.5 27.6 Imports of goods, services & income 352.1 440.6 494.2 675.5 772.8 827.8 900.4 738.0 Profit remittances on FDI 26.5 35.3 33.4 51.1 34.0 45.1 52.5 50.7 Current account balance -57.0 -36.2 -94.8 -129.5 -309.0 -344.7 -346.6 -187.1 International reserves 44.6 63.1 78.8 116.4 134.5 153.7 142.8 174.8 6. Ratios External debt stocks to exports (%) 27.5 33.3 58.1 77.1 89.4 108.4 161.3 77.4 External debt stocks to GNI (%) 21.4 24.6 33.4 52.3 46.1 57.2 95.6 47.7 Debt service to exports (%) 2.2 3.1 7.9 6.0 7.5 10.3 11.1 8.2 Short-term to external debt stocks (%) 8.9 13.2 30.6 42.8 29.0 34.0 59.4 14.8 Multilateral to external debt stocks (%) 53.3 61.6 45.0 34.2 37.5 32.5 23.2 47.3 Reserves to external debt stocks (%) 56.3 49.2 35.6 28.3 33.3 30.2 16.5 42.0 Reserves to imports (months) 1.5 1.7 1.9 2.1 2.1 2.2 1.9 2.8 266 ST. LUCIA 7. Long-term external debt Debt outstanding and disbursed 72.1 111.3 153.5 235.0 286.7 335.8 352.2 343.7 Public and publicly guaranteed 72.1 111.3 153.5 235.0 286.7 335.8 352.2 343.7 Official creditors 69.5 111.3 120.7 160.9 174.3 197.2 228.5 221.4 Multilateral 42.2 79.0 99.5 140.5 151.4 165.5 201.4 196.7 of which: IBRD 0.0 2.1 6.0 10.3 10.0 17.8 18.2 19.2 IDA 0.0 7.9 11.6 27.2 40.7 46.2 49.2 50.0 Bilateral 27.3 32.3 21.3 20.4 23.0 31.8 27.1 24.7 Private creditors 2.6 0.0 32.8 74.0 112.4 138.6 123.6 122.3 of which: Bonds 0.0 0.0 0.0 0.0 44.4 44.4 44.4 55.0 Commercial banks 2.6 0.0 32.8 74.0 68.0 94.2 79.2 67.3 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 8.0 11.5 48.7 11.7 65.8 24.1 11.5 17.5 Public and publicly guaranteed 8.0 11.5 48.7 11.7 65.8 24.1 11.5 17.5 Official creditors 8.0 11.5 16.8 11.7 21.3 24.1 11.5 7.0 Multilateral 6.9 10.8 15.7 7.4 17.2 18.2 8.9 7.0 of which: IBRD 0.0 0.7 0.9 1.1 0.7 9.6 2.6 3.8 IDA 0.0 2.1 0.7 3.5 12.2 4.1 3.9 0.9 Bilateral 1.1 0.8 1.1 4.4 4.1 5.9 2.7 0.0 Private creditors 0.0 0.0 31.9 0.0 44.4 0.0 0.0 10.5 of which: Bonds 0.0 0.0 0.0 0.0 44.4 0.0 0.0 10.5 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 14.2 17.8 26.4 32.4 26.7 Public and publicly guaranteed 3.2 6.2 20.9 14.2 17.8 26.4 32.4 26.7 Official creditors 2.4 6.2 11.7 9.5 11.8 14.5 17.5 14.8 Multilateral 2.4 4.2 6.6 7.0 8.4 9.3 11.4 12.0 of which: IBRD 0.0 0.1 0.5 1.0 1.1 1.8 2.3 2.7 IDA 0.0 0.0 0.1 0.3 0.4 0.4 0.4 0.5 Bilateral 0.0 2.0 5.1 2.5 3.4 5.2 6.1 2.8 Private creditors 0.8 0.0 9.2 4.7 6.0 11.9 15.0 11.9 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 4.7 6.0 11.9 15.0 11.9 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 Interest payments 2.8 4.8 6.4 12.8 12.6 16.4 17.1 16.1 Public and publicly guaranteed 2.8 4.8 6.4 12.8 12.6 16.4 17.1 16.1 Official creditors 2.6 4.8 5.2 6.3 6.0 6.1 8.1 7.1 Multilateral 1.8 3.0 4.0 5.4 5.1 4.8 7.0 6.2 of which: IBRD 0.0 0.1 0.3 0.5 0.5 0.7 0.9 0.9 IDA 0.0 0.0 0.1 0.2 0.3 0.3 0.4 0.4 Bilateral 0.8 1.8 1.2 0.9 0.9 1.3 1.1 0.9 Private creditors 0.2 0.0 1.2 6.5 6.5 10.3 9.0 8.9 of which: Bonds 0.0 0.0 0.0 0.0 0.5 2.0 2.4 3.2 Commercial banks 0.2 0.0 1.2 6.5 6.0 8.4 6.6 5.8 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 13.5 14.7 37.0 59.3 -7.2 105.4 357.9 -450.9 Net flows on external debt 7.0 12.3 40.3 64.5 -11.1 53.8 320.1 -453.5 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 67.5 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 21.9 20.4 17.7 15.7 15.0 14.1 14.1 13.8 Interest 3.7 3.4 3.1 2.8 2.5 2.2 2.0 1.7 Private creditors Principal 11.0 11.0 11.0 7.8 1.1 35.1 45.2 0.2 Interest 9.1 8.3 7.5 6.7 6.3 5.1 1.5 0.0 267 ST. VINCENT AND THE GRENADINES 1. Summary external debt data External debt stocks 62.4 118.3 194.6 250.6 241.5 199.9 203.2 208.8 Long-term external debt 60.3 91.3 163.3 246.3 241.0 198.3 202.4 201.7 Public and publicly guaranteed 60.3 91.3 163.3 246.3 241.0 198.3 202.4 201.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.9 Short-term external debt 2.1 27.0 31.4 4.3 0.5 1.6 0.9 1.2 interest arrears on long-term 0.1 0.1 0.4 4.3 0.5 1.6 0.9 1.2 Memorandum items 0.1 0.6 0.9 3.0 0.3 0.3 0.3 0.8 60.3 91.3 163.3 246.3 241.0 198.3 202.4 201.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.0 12.6 1.0 66.4 0.0 0.7 16.0 35.4 External debt flows Disbursements 7.2 3.3 8.5 42.4 14.1 15.4 23.4 26.1 Long-term external debt 7.2 3.3 8.5 42.4 14.1 15.4 23.4 20.4 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.8 Principal repayments 2.4 4.5 6.1 15.5 22.1 18.3 18.7 21.5 Long-term external debt 2.4 4.5 6.1 15.5 22.1 18.3 18.7 21.5 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 5.2 3.0 1.6 26.9 -8.0 -2.9 4.7 4.6 Long-term external debt 4.8 -1.2 2.4 26.9 -8.0 -2.9 4.7 -1.1 Short-term external debt 0.4 4.2 -0.8 0.0 0.0 0.0 0.0 0.0 Interest payments 1.9 4.1 7.0 8.2 11.2 9.5 10.0 9.8 Long-term external debt 1.7 2.6 5.1 8.2 11.2 9.5 10.0 9.7 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 1.5 1.9 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 7.7 30.6 37.7 40.1 109.1 130.5 159.2 110.3 Portfolio equity 0.0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.4 5.9 7.6 6.3 5.6 Japanese yen 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 4.5 5.4 2.9 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.2 1.4 0.3 0.0 0.0 0.0 0.0 0.0 U.S.dollars 65.9 68.2 82.2 74.3 75.5 71.7 75.5 78.3 4. Average terms of new commitments Official creditors Interest (%) 4.0 3.5 2.5 4.7 0.0 0.8 0.0 2.8 Maturity (years) 20.4 19.9 30.1 18.4 0.0 34.8 0.0 21.5 Grace period (years) 4.9 4.2 10.3 4.6 0.0 10.3 0.0 5.6 Private creditors Interest (%) 0.0 0.0 0.0 7.0 0.0 0.0 8.5 0.0 Maturity (years) 0.0 0.0 0.0 10.0 0.0 0.0 10.0 0.0 Grace period (years) 0.0 0.0 0.0 0.5 0.0 0.0 0.5 0.0 5. Major economic aggregates Gross national income (GNI) 187.3 254.8 316.9 418.8 473.7 533.3 559.2 561.8 Exports of goods, services & income 134.8 140.3 182.6 208.9 225.6 225.3 219.8 211.8 Worker remit. & comp. of employees 15.6 17.2 22.5 26.5 29.7 33.1 31.1 29.9 Imports of goods, services & income 167.9 190.0 222.8 326.4 363.6 436.4 472.0 433.3 Profit remittances on FDI 13.3 11.1 12.7 22.1 23.0 19.6 18.1 17.8 Current account balance -23.6 -40.2 -23.9 -99.4 -117.9 -191.0 -227.9 -198.1 International reserves 26.5 29.8 55.2 69.5 78.7 87.0 83.7 87.8 6. Ratios External debt stocks to exports (%) 46.3 84.3 106.6 119.9 107.0 88.7 92.5 98.6 External debt stocks to GNI (%) 33.3 46.4 61.4 59.8 51.0 37.5 36.3 37.2 Debt service to exports (%) 3.2 6.1 7.2 11.3 14.8 12.3 13.0 14.8 Short-term to external debt stocks (%) 3.4 22.8 16.1 1.7 0.2 0.8 0.4 0.6 Multilateral to external debt stocks (%) 79.1 49.3 34.0 33.1 38.7 53.0 53.0 57.9 Reserves to external debt stocks (%) 42.5 25.2 28.4 27.7 32.6 43.5 41.2 42.1 Reserves to imports (months) 1.9 1.9 3.0 2.6 2.6 2.4 2.1 2.4 268 ST. VINCENT AND THE GRENADINES 7. Long-term external debt Debt outstanding and disbursed 60.3 91.3 163.3 246.3 241.0 198.3 202.4 201.7 Public and publicly guaranteed 60.3 91.3 163.3 246.3 241.0 198.3 202.4 201.7 Official creditors 60.2 86.5 104.8 113.3 122.6 133.6 131.8 141.8 Multilateral 49.4 58.4 66.2 82.9 93.4 105.9 107.8 121.0 of which: IBRD 0.0 0.4 0.1 0.9 3.4 3.2 3.0 3.3 IDA 6.2 8.1 7.0 15.3 16.5 18.2 19.3 20.4 Bilateral 10.9 28.2 38.6 30.4 29.1 27.7 24.0 20.9 Private creditors 0.0 4.8 58.5 133.0 118.4 64.7 70.6 59.8 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 59.9 53.5 47.2 56.1 48.2 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 Disbursements 7.2 3.3 8.5 42.4 14.1 15.4 23.4 20.4 Public and publicly guaranteed 7.2 3.3 8.5 42.4 14.1 15.4 23.4 20.4 Official creditors 7.2 3.3 8.5 12.4 14.1 15.4 7.4 20.4 Multilateral 6.6 1.7 5.7 11.5 13.7 15.4 7.3 20.4 of which: IBRD 0.0 0.0 0.0 0.0 2.5 0.0 0.1 0.7 IDA 0.9 0.0 0.0 3.3 0.8 1.3 1.6 1.3 Bilateral 0.6 1.5 2.8 0.8 0.4 0.0 0.1 0.0 Private creditors 0.0 0.1 0.0 30.0 0.0 0.0 16.0 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 0.1 0.0 30.0 0.0 0.0 16.0 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 2.4 4.5 6.1 15.5 22.1 18.3 18.7 21.5 Public and publicly guaranteed 2.4 4.5 6.1 15.5 22.1 18.3 18.7 21.5 Official creditors 2.4 4.5 5.7 7.7 7.5 7.1 8.6 10.8 Multilateral 2.2 3.4 3.7 4.9 4.8 4.3 5.2 7.6 of which: IBRD 0.0 0.1 0.0 0.0 0.0 0.2 0.3 0.4 IDA 0.0 0.1 0.1 0.3 0.3 0.3 0.3 0.4 Bilateral 0.2 1.1 2.0 2.8 2.7 2.7 3.4 3.2 Private creditors 0.0 0.0 0.4 7.7 14.6 11.3 10.1 10.7 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 0.2 6.4 6.3 7.1 7.9 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 Interest payments 1.7 2.6 5.1 8.2 11.2 9.5 10.0 9.7 Public and publicly guaranteed 1.7 2.6 5.1 8.2 11.2 9.5 10.0 9.7 Official creditors 1.7 2.4 3.3 3.5 3.7 3.6 4.9 4.4 Multilateral 1.5 1.7 2.1 2.4 2.8 2.8 4.0 3.6 of which: IBRD 0.0 0.0 0.0 0.1 0.1 0.2 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 0.8 0.9 0.7 Private creditors 0.0 0.3 1.8 4.7 7.5 5.9 5.1 5.4 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.3 0.1 2.1 4.1 3.7 3.8 4.0 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 9.6 4.1 1.3 24.0 -9.2 -41.6 3.4 5.5 Net flows on external debt 5.2 3.0 1.6 26.9 -8.0 -2.9 4.7 4.6 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 16.2 14.5 14.3 13.9 12.1 12.6 12.6 11.8 Interest 3.7 3.5 3.3 3.1 2.8 2.6 2.3 2.0 Private creditors Principal 11.0 11.0 11.0 10.5 7.6 4.6 1.6 1.6 Interest 4.0 3.3 2.5 1.8 1.1 0.6 0.3 0.2 Notes: Data on long-term public and publicly guaranteed debt are World Bank staff estimates based on reports provided by the country. Short-term debt data are excluded since BIS data include debt liabilities of offshore centers located in the country. BIS short-term debt data for 2007, 2008, and 2009 are $575 millions, $447 millions, and $474 millions respectively. 269 SUDAN 1. Summary external debt data External debt stocks 14,762 17,603 16,009 17,390 18,224 19,161 19,463 20,139 Long-term external debt 9,651 10,275 10,639 11,085 11,662 12,357 12,386 12,998 Public and publicly guaranteed 9,155 9,779 10,143 11,085 11,662 12,357 12,386 12,998 Private nonguaranteed 496 496 496 0 0 0 0 0 Use of IMF credit 956 960 625 518 518 482 406 403 Short-term external debt 4,155 6,368 4,745 5,788 6,043 6,322 6,671 6,739 interest arrears on long-term 3,705 5,737 4,474 5,377 5,707 6,048 6,195 6,522 Memorandum items 5,703 7,637 7,291 7,753 8,117 8,356 8,231 8,352 9,651 10,275 10,639 11,085 11,662 12,357 12,386 12,998 0 0 0 0 0 0 0 0 35 0 343 335 593 285 1,036 1,281 External debt flows Disbursements 185 51 861 369 465 662 465 961 Long-term external debt 185 51 861 369 465 662 465 961 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 16 54 197 319 265 276 283 365 Long-term external debt 15 15 143 291 238 216 218 354 IMF repurchases 1 39 54 28 27 60 66 11 Net flows 169 0 625 58 124 324 384 337 Long-term external debt 170 36 718 78 226 446 247 606 Short-term external debt 0 3 -39 9 -75 -62 202 -259 Interest payments 34 15 48 79 64 91 81 118 Long-term external debt 9 2 42 67 54 83 66 111 IMF charges 0 13 0 0 0 0 0 0 Short-term external debt 25 0 5 12 10 8 15 7 2. Other non-debt resource inflows Foreign direct investment -31 12 392 2,305 3,534 2,426 2,601 2,923 Portfolio equity 0 0 0 0 -35 -17 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.0 8.4 8.8 7.9 7.9 Japanese yen 2.3 2.9 2.0 1.3 1.3 0.8 1.0 0.7 Pound sterling 4.3 3.4 3.3 3.1 3.2 3.1 2.4 2.5 Swiss franc 18.6 19.6 12.2 13.9 14.3 14.6 15.4 15.2 U.S.dollars 48.1 47.6 60.3 54.0 52.2 50.5 48.9 50.5 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 1.7 3.3 3.9 2.2 2.9 2.7 Maturity (years) 49.9 0.0 24.8 16.6 13.2 19.8 20.3 14.2 Grace period (years) 10.4 0.0 4.7 4.9 4.0 5.1 5.5 3.7 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 11,409 12,920 11,303 25,397 33,503 41,891 52,380 49,737 Exports of goods, services & income 511 683 1,839 4,982 5,993 9,447 12,207 8,283 Worker remit. & comp. of employees 62 346 641 1,016 1,179 1,769 3,100 3,059 Imports of goods, services & income 1,025 1,243 2,594 9,196 12,008 13,098 13,905 11,011 Profit remittances on FDI 0 0 0 1,399 2,093 2,404 2,971 .. Current account balance -372 -500 -518 -2,768 -4,811 -3,268 -1,314 .. International reserves 11 163 138 1,869 1,660 1,378 1,399 1,094 6. Ratios External debt stocks to exports (%) 2,886.6 2,577.7 870.7 349.0 304.1 202.8 159.4 243.1 External debt stocks to GNI (%) 129.4 136.3 141.6 68.5 54.4 45.7 37.2 40.5 Debt service to exports (%) 9.7 10.1 13.3 8.0 5.5 3.9 3.0 5.8 Short-term to external debt stocks (%) 28.1 36.2 29.6 33.3 33.2 33.0 34.3 33.5 Multilateral to external debt stocks (%) 11.7 12.1 12.3 14.4 14.9 15.6 16.0 15.7 Reserves to external debt stocks (%) 0.1 0.9 0.9 10.7 9.1 7.2 7.2 5.4 Reserves to imports (months) 0.1 1.6 0.6 2.4 1.7 1.3 1.2 1.2 270 SUDAN 7. Long-term external debt Debt outstanding and disbursed 9,651 10,275 10,639 11,085 11,662 12,357 12,386 12,998 Public and publicly guaranteed 9,155 9,779 10,143 11,085 11,662 12,357 12,386 12,998 Official creditors 7,500 7,921 8,386 8,997 9,462 10,024 9,995 10,549 Multilateral 1,723 2,133 1,968 2,510 2,716 2,994 3,121 3,154 of which: IBRD 19 6 1 0 0 0 0 0 IDA 1,028 1,272 1,167 1,234 1,271 1,307 1,300 1,306 Bilateral 5,777 5,787 6,418 6,487 6,746 7,030 6,875 7,395 Private creditors 1,655 1,859 1,758 2,087 2,200 2,333 2,390 2,449 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1,651 1,855 1,296 1,584 1,696 1,829 1,887 1,945 Private nonguaranteed 496 496 496 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 185 51 861 369 465 662 465 961 Public and publicly guaranteed 185 51 861 369 465 662 465 961 Official creditors 185 51 318 369 465 662 465 961 Multilateral 185 51 171 124 150 212 177 116 of which: IBRD 0 0 0 0 0 0 0 0 IDA 121 0 0 0 0 0 0 0 Bilateral 0 0 146 245 315 450 288 845 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 15 143 291 238 216 218 354 Public and publicly guaranteed 15 15 143 291 238 216 218 354 Official creditors 15 15 143 291 238 216 218 354 Multilateral 15 15 32 27 15 37 29 61 of which: IBRD 10 0 2 0 0 0 0 0 IDA 4 0 2 1 2 0 1 0 Bilateral 0 0 111 264 223 178 189 294 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 67 54 83 66 111 Public and publicly guaranteed 9 2 42 67 54 83 66 111 Official creditors 9 2 41 67 54 83 66 111 Multilateral 9 2 16 23 12 40 35 43 of which: IBRD 2 0 0 0 0 0 0 0 IDA 6 0 2 1 1 0 2 0 Bilateral 0 0 26 43 41 43 31 68 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 -808 833 937 302 677 Net flows on external debt 169 0 625 58 124 324 384 337 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 29 Total amount forgiven 0 0 0 15 0 52 108 52 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 712 713 689 485 522 434 375 331 Interest 140 129 112 99 99 85 74 66 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt exclude penalty interest. 271 SWAZILAND 1. Summary external debt data External debt stocks 256.8 249.5 264.8 442.3 413.8 404.1 370.0 417.8 Long-term external debt 252.2 238.3 262.9 362.2 364.7 368.6 355.0 390.8 Public and publicly guaranteed 252.2 238.3 262.9 362.2 364.7 368.6 355.0 390.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 4.6 11.1 1.8 80.1 49.1 35.5 15.0 27.0 interest arrears on long-term 0.1 0.5 0.0 15.1 18.1 5.5 15.0 25.0 Memorandum items 0.2 4.0 0.2 7.1 10.6 6.2 11.5 22.3 252.2 238.3 262.9 362.2 364.7 368.6 355.0 390.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29.0 0.7 0.0 6.6 0.0 0.1 24.2 External debt flows Disbursements 13.6 8.1 15.8 51.1 22.9 12.4 56.6 33.2 Long-term external debt 13.6 8.1 15.8 51.1 22.9 12.4 56.6 33.2 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 34.6 13.5 12.4 18.1 17.4 22.4 33.5 28.4 Long-term external debt 34.2 13.5 12.4 18.1 17.4 22.4 33.5 28.4 IMF repurchases 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows -37.6 -1.1 -47.5 54.1 -28.5 -11.0 -6.9 6.8 Long-term external debt -20.6 -5.4 3.4 33.1 5.5 -10.0 23.1 4.8 Short-term external debt -16.7 4.3 -50.9 21.0 -34.0 -1.0 -30.0 2.0 Interest payments 9.7 4.6 18.2 16.4 18.1 24.8 19.1 15.8 Long-term external debt 9.2 4.1 16.1 13.6 15.1 23.4 18.8 15.8 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.4 0.4 2.1 2.8 3.1 1.4 0.4 0.0 2. Other non-debt resource inflows Foreign direct investment 30.1 51.8 90.7 -45.9 121.0 37.5 105.8 66.0 Portfolio equity -2.2 0.8 1.4 0.8 5.5 1.0 .. -6.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.5 11.7 12.2 18.3 17.6 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 10.3 4.6 1.0 0.2 0.1 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 11.3 8.2 10.4 16.5 15.6 14.5 14.1 15.6 4. Average terms of new commitments Official creditors Interest (%) 0.0 7.1 3.0 0.0 2.5 0.0 2.8 3.0 Maturity (years) 0.0 19.5 40.2 0.0 21.8 0.0 41.4 27.6 Grace period (years) 0.0 5.0 27.2 0.0 4.3 0.0 10.8 4.8 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1174.0 1779.5 1523.8 2702.3 2683.7 2990.9 2829.6 2708.0 Exports of goods, services & income 819.6 1182.2 1376.4 2190.4 2187.8 2480.3 .. 2065.0 Worker remit. & comp. of employees 112.8 82.6 56.9 95.4 98.6 100.5 100.5 111.4 Imports of goods, services & income 870.4 1355.9 1522.9 2390.5 2515.9 2739.8 2288.9 2268.0 Profit remittances on FDI 85.4 68.0 65.9 44.0 167.0 160.0 .. .. Current account balance 50.7 -29.7 -45.9 -102.6 -196.6 -65.5 .. .. International reserves 216.5 298.2 351.8 243.9 372.5 774.2 751.9 958.9 6. Ratios External debt stocks to exports (%) 31.3 21.1 19.2 20.2 18.9 16.3 .. 20.2 External debt stocks to GNI (%) 21.9 14.0 17.4 16.4 15.4 13.5 13.1 15.4 Debt service to exports (%) 5.4 1.5 2.2 1.6 1.6 1.9 .. 2.1 Short-term to external debt stocks (%) 1.8 4.5 0.7 18.1 11.9 8.8 4.1 6.5 Multilateral to external debt stocks (%) 45.3 48.2 56.6 54.1 59.5 62.3 65.1 61.0 Reserves to external debt stocks (%) 84.3 119.5 132.9 55.1 90.0 191.6 203.2 229.5 Reserves to imports (months) 3.0 2.6 2.8 1.2 1.8 3.4 3.9 5.1 272 SWAZILAND 7. Long-term external debt Debt outstanding and disbursed 252.2 238.3 262.9 362.2 364.7 368.6 355.0 390.8 Public and publicly guaranteed 252.2 238.3 262.9 362.2 364.7 368.6 355.0 390.8 Official creditors 245.4 238.1 243.1 338.5 343.2 346.6 338.9 370.5 Multilateral 116.2 120.3 149.9 239.3 246.1 251.7 240.9 254.7 of which: IBRD 36.9 19.2 9.0 23.6 22.4 20.1 14.2 7.6 IDA 6.8 5.9 4.7 3.4 3.2 2.9 2.7 2.4 Bilateral 129.2 117.8 93.2 99.1 97.1 94.9 98.0 115.8 Private creditors 6.8 0.3 19.8 23.7 21.5 22.0 16.1 20.3 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 19.8 23.7 21.5 22.0 16.1 20.3 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 13.6 8.1 15.8 51.1 22.9 12.4 56.6 33.2 Public and publicly guaranteed 13.6 8.1 15.8 51.1 22.9 12.4 56.6 33.2 Official creditors 13.6 8.1 15.8 51.1 22.9 12.4 56.6 33.2 Multilateral 8.2 7.2 15.8 32.0 19.3 11.9 39.6 20.7 of which: IBRD 1.0 0.0 0.7 1.5 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 5.5 1.0 0.0 19.2 3.7 0.5 17.0 12.5 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 18.1 17.4 22.4 33.5 28.4 Public and publicly guaranteed 34.2 13.5 12.4 18.1 17.4 22.4 33.5 28.4 Official creditors 32.3 13.2 12.4 18.1 17.4 22.4 33.5 28.4 Multilateral 26.8 8.2 8.1 12.6 12.2 14.7 26.1 24.9 of which: IBRD 20.4 3.5 0.9 1.5 1.2 2.3 5.9 6.6 IDA 0.2 0.3 0.3 0.3 0.3 0.3 0.2 0.3 Bilateral 5.5 5.0 4.3 5.5 5.2 7.7 7.4 3.5 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 13.6 15.1 23.4 18.8 15.8 Public and publicly guaranteed 9.2 4.1 16.1 13.6 15.1 23.4 18.8 15.8 Official creditors 8.4 4.1 10.2 10.5 12.0 20.5 16.3 14.6 Multilateral 6.5 3.1 5.2 9.1 10.7 12.6 13.0 11.7 of which: IBRD 3.6 1.2 0.8 1.0 1.0 1.0 0.8 0.6 IDA 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 1.9 0.9 5.0 1.4 1.4 7.9 3.3 2.9 Private creditors 0.8 0.1 5.9 3.2 3.0 2.9 2.5 1.2 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 3.2 3.0 2.9 2.5 1.2 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 -14.5 8.8 -68.0 19.0 -28.5 -9.7 -34.1 47.8 Net flows on external debt -37.6 -1.1 -47.5 54.1 -28.5 -11.0 -6.9 6.8 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 30.8 33.5 32.0 30.7 29.8 27.6 24.0 21.4 Interest 12.5 11.8 10.7 9.5 8.3 7.2 6.2 5.5 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 273 SYRIAN ARAB REPUBLIC 1. Summary external debt data External debt stocks 17,353 21,897 22,156 5,531 5,505 5,625 5,318 5,236 Long-term external debt 15,085 16,955 16,464 5,025 4,916 4,976 4,737 4,480 Public and publicly guaranteed 15,085 16,955 16,464 5,025 4,916 4,976 4,737 4,480 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 2,268 4,942 5,692 506 589 649 581 756 interest arrears on long-term 577 2,013 2,372 193 196 142 145 206 Memorandum items 983 5,743 8,828 265 270 213 220 226 15,084 16,954 16,464 5,025 4,916 4,976 4,737 4,480 0 0 0 0 0 0 0 0 344 0 69 476 330 270 279 576 External debt flows Disbursements 177 297 18 189 210 425 282 281 Long-term external debt 177 297 18 189 210 425 282 281 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 1,055 69 239 439 689 546 560 499 Long-term external debt 1,055 69 239 439 689 546 560 499 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -671 540 -826 -357 -399 -7 -350 -104 Long-term external debt -879 229 -221 -250 -479 -121 -279 -218 Short-term external debt 208 311 -605 -107 80 114 -71 114 Interest payments 117 213 247 126 133 139 146 144 Long-term external debt 35 74 127 110 113 114 125 119 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 82 139 120 16 20 25 22 25 2. Other non-debt resource inflows Foreign direct investment 40 100 270 500 659 1,242 1,467 1,434 Portfolio equity 0 0 0 0 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.4 14.9 21.6 22.4 26.1 Japanese yen 1.7 3.9 4.9 9.7 14.1 13.0 15.5 14.5 Pound sterling 0.6 1.0 0.6 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 86.6 81.8 84.1 49.1 42.3 36.6 33.3 31.0 4. Average terms of new commitments Official creditors Interest (%) 3.8 0.0 1.0 4.8 1.6 2.0 1.8 1.9 Maturity (years) 23.0 0.0 25.3 18.6 20.1 19.3 15.3 26.8 Grace period (years) 6.2 0.0 5.3 4.3 8.5 4.6 3.6 7.2 Private creditors Interest (%) 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 12.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 11,955 11,591 18,446 27,685 32,472 39,860 53,367 50,910 Exports of goods, services & income 5,460 6,201 7,190 11,907 13,597 16,212 19,914 .. Worker remit. & comp. of employees 385 339 180 823 795 1,150 1,400 1,050 Imports of goods, services & income 3,786 6,545 6,614 12,359 13,242 16,573 20,998 .. Profit remittances on FDI 0 0 0 1,220 1,165 1,085 1,527 .. Current account balance 1,762 263 1,061 299 920 459 66 .. International reserves 447 448 355 17,774 16,997 17,707 17,784 18,300 6. Ratios External debt stocks to exports (%) 317.8 353.1 308.1 46.4 40.5 34.7 26.7 .. External debt stocks to GNI (%) 145.2 188.9 120.1 20.0 17.0 14.1 10.0 10.3 Debt service to exports (%) 21.5 4.5 6.8 4.7 6.0 4.2 3.5 .. Short-term to external debt stocks (%) 13.1 22.6 25.7 9.1 10.7 11.5 10.9 14.4 Multilateral to external debt stocks (%) 4.9 4.8 2.6 18.3 20.7 26.9 29.0 31.6 Reserves to external debt stocks (%) 2.6 2.0 1.6 321.4 308.7 314.8 334.4 349.5 Reserves to imports (months) 1.4 0.8 0.6 17.3 15.4 12.8 10.2 .. 274 SYRIAN ARAB REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 15,085 16,955 16,464 5,025 4,916 4,976 4,737 4,480 Public and publicly guaranteed 15,085 16,955 16,464 5,025 4,916 4,976 4,737 4,480 Official creditors 13,810 15,719 15,502 5,025 4,916 4,976 4,737 4,480 Multilateral 853 1,051 576 1,014 1,140 1,514 1,544 1,657 of which: IBRD 479 428 25 0 0 0 0 0 IDA 44 44 30 22 21 19 18 16 Bilateral 12,957 14,668 14,926 4,010 3,776 3,461 3,193 2,824 Private creditors 1,275 1,236 962 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 177 297 18 189 210 425 282 281 Public and publicly guaranteed 177 297 18 189 210 425 282 281 Official creditors 151 297 18 189 210 425 282 281 Multilateral 24 123 12 130 177 372 203 232 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 127 174 6 59 33 53 79 49 Private creditors 25 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 1,055 69 239 439 689 546 560 499 Public and publicly guaranteed 1,055 69 239 439 689 546 560 499 Official creditors 1,021 68 224 428 689 546 560 499 Multilateral 19 42 66 79 92 103 121 125 of which: IBRD 1 13 14 0 0 0 0 0 IDA 2 0 1 1 1 1 1 1 Bilateral 1,002 26 158 349 598 443 439 373 Private creditors 34 1 16 11 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 35 74 127 110 113 114 125 119 Public and publicly guaranteed 35 74 127 110 113 114 125 119 Official creditors 28 74 126 110 113 114 125 119 Multilateral 12 37 82 42 45 50 63 61 of which: IBRD 1 12 57 0 0 0 0 0 IDA 1 0 0 0 0 0 0 0 Bilateral 16 37 44 68 68 63 62 58 Private creditors 7 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 -256 863 -730 -13,437 -25 120 -307 -81 Net flows on external debt -671 540 -826 -357 -399 -7 -350 -104 9. Debt restructurings Total amount rescheduled 0 0 566 1,650 0 41 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 567 579 583 584 564 455 359 321 Interest 113 117 118 113 106 99 89 79 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Historical data for long-term public and publicly guaranteed debt are revised based on reports provided by Central Bank. 275 TAJIKISTAN 1. Summary external debt data External debt stocks .. 634 1,034 1,062 1,014 1,150 2,313 2,514 Long-term external debt .. 590 846 852 876 1,103 2,271 2,458 Public and publicly guaranteed .. 590 755 826 840 1,063 1,374 1,603 Private nonguaranteed .. 0 91 26 37 40 897 855 Use of IMF credit .. 0 111 127 44 46 15 41 Short-term external debt .. 43 77 84 93 0 27 15 interest arrears on long-term .. 43 45 2 0 0 0 0 Memorandum items .. 142 121 23 1 0 0 0 .. 590 755 821 837 1,063 1,374 1,603 .. 0 91 31 39 40 897 855 .. 0 53 87 640 160 91 130 External debt flows Disbursements .. 28 62 137 164 266 387 573 Long-term external debt .. 28 37 108 149 266 387 532 IMF purchases .. 0 25 29 14 0 0 40 Principal repayments .. 0 37 56 39 41 97 428 Long-term external debt .. 0 28 42 39 41 66 413 IMF repurchases .. 0 10 14 0 0 31 15 Net flows .. 28 -4 80 135 132 317 133 Long-term external debt .. 28 9 66 110 225 321 120 Short-term external debt .. 0 -29 -1 11 -93 27 -12 Interest payments .. 0 25 14 28 23 29 43 Long-term external debt .. 0 21 10 23 20 28 43 IMF charges .. 0 2 1 0 0 0 0 Short-term external debt .. 0 2 3 4 3 0 0 2. Other non-debt resource inflows Foreign direct investment .. 10 24 54 339 360 376 16 Portfolio equity .. .. .. 0 .. 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.1 5.3 3.9 2.8 2.8 Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 97.0 97.9 86.3 85.7 86.2 86.3 82.8 4. Average terms of new commitments Official creditors Interest (%) .. 0.0 3.8 0.7 2.0 1.5 1.2 2.0 Maturity (years) .. 0.0 26.4 29.5 20.7 30.5 32.0 20.9 Grace period (years) .. 0.0 6.7 7.8 5.3 7.9 12.2 5.5 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,183 824 2,232 2,710 3,626 5,080 4,912 Exports of goods, services & income .. .. .. 1,264 1,658 1,728 1,776 1,225 Worker remit. & comp. of employees .. .. .. 467 1,019 1,691 2,544 1,748 Imports of goods, services & income .. .. .. 1,733 2,425 3,780 4,227 3,140 Profit remittances on FDI .. .. .. 2 46 26 4 5 Current account balance .. .. .. -19 -21 -495 48 -180 International reserves .. .. 94 189 204 .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. 84.1 61.1 66.5 130.2 205.2 External debt stocks to GNI (%) .. 53.6 125.4 47.6 37.4 31.7 45.5 51.2 Debt service to exports (%) .. .. .. 5.6 4.0 3.7 7.1 38.4 Short-term to external debt stocks (%) .. 6.8 7.5 7.9 9.2 .. 1.2 0.6 Multilateral to external debt stocks (%) .. .. 18.0 48.8 59.3 58.0 31.7 32.9 Reserves to external debt stocks (%) .. .. 9.1 17.8 20.1 .. .. .. Reserves to imports (months) .. .. .. 1.3 1.0 .. .. .. 276 TAJIKISTAN 7. Long-term external debt Debt outstanding and disbursed .. 590 846 852 876 1,103 2,271 2,458 Public and publicly guaranteed .. 590 755 826 840 1,063 1,374 1,603 Official creditors .. 522 704 817 837 1,063 1,374 1,603 Multilateral .. 0 186 519 602 667 733 826 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 143 308 339 360 365 373 Bilateral .. 522 518 298 235 396 641 777 Private creditors .. 68 51 8 3 0 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 26 37 40 897 855 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 28 37 108 149 266 387 532 Public and publicly guaranteed .. 28 36 105 133 250 356 208 Official creditors .. 28 36 105 133 250 356 208 Multilateral .. 0 36 73 64 52 69 100 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 23 35 16 8 10 9 Bilateral .. 28 0 32 69 198 287 108 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 3 16 16 31 324 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 28 42 39 41 66 413 Public and publicly guaranteed .. 0 15 37 34 29 52 35 Official creditors .. 0 15 37 30 29 52 35 Multilateral .. 0 0 14 11 12 10 14 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 0 0 1 2 4 Bilateral .. 0 15 22 19 17 42 20 Private creditors .. 0 0 0 3 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 12 5 6 12 15 378 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 0 21 10 23 20 28 43 Public and publicly guaranteed .. 0 7 9 21 18 26 24 Official creditors .. 0 4 9 19 18 26 24 Multilateral .. 0 1 6 13 11 13 9 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 1 2 3 3 3 3 Bilateral .. 0 3 3 7 7 12 15 Private creditors .. 0 4 0 2 0 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 1 2 2 3 19 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 53 -241 24 -49 136 1,164 201 Net flows on external debt .. 28 -4 80 135 132 317 133 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 2 0 102 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 53 72 85 90 93 91 87 88 Interest 25 25 25 24 23 22 21 19 Private creditors Principal 225 169 154 88 69 48 40 32 Interest 48 35 25 17 12 8 6 3 Notes: Tajikistan was granted debt relief effective in 2006 under MDRI. 277 TANZANIA 1. Summary external debt data External debt stocks 6,446 7,365 7,142 8,355 4,049 5,008 5,964 7,325 Long-term external debt 5,786 6,204 5,969 7,006 3,035 3,925 4,600 5,653 Public and publicly guaranteed 5,786 6,204 5,969 6,446 2,452 3,181 3,711 4,637 Private nonguaranteed 0 0 0 560 583 744 889 1,016 Use of IMF credit 140 197 324 342 13 18 17 329 Short-term external debt 520 964 849 1,006 1,001 1,065 1,347 1,342 interest arrears on long-term 404 904 647 615 595 628 764 837 Memorandum items 826 1,494 695 655 405 430 497 520 5,728 6,106 5,917 6,446 2,452 3,181 3,711 4,637 58 98 52 560 583 744 889 1,016 697 141 391 617 840 858 824 823 External debt flows Disbursements 325 261 264 474 577 654 523 1,372 Long-term external debt 296 261 211 466 573 649 523 1,065 IMF purchases 29 0 53 8 4 4 0 307 Principal repayments 118 141 104 77 36 20 22 105 Long-term external debt 89 122 94 31 36 20 22 105 IMF repurchases 28 19 10 46 0 0 0 0 Net flows 224 98 205 459 557 665 647 1,188 Long-term external debt 207 139 118 435 538 630 501 960 Short-term external debt 16 -22 44 62 15 31 146 -78 Interest payments 62 85 63 54 51 44 42 59 Long-term external debt 47 80 51 44 39 26 27 45 IMF charges 6 1 2 1 0 0 0 1 Short-term external debt 9 4 10 9 12 19 15 13 2. Other non-debt resource inflows Foreign direct investment 0 120 463 494 597 647 744 645 Portfolio equity 0 0 0 3 3 3 3 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.9 7.5 6.6 5.6 4.6 Japanese yen 8.5 10.9 7.9 7.0 4.9 4.0 4.3 3.4 Pound sterling 11.7 10.2 8.9 4.8 0.7 0.1 0.1 0.1 Swiss franc 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 35.7 38.8 51.9 54.1 46.3 40.1 41.2 44.5 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.7 0.9 1.2 0.8 0.7 0.7 0.8 Maturity (years) 35.4 22.3 38.2 37.1 41.0 41.3 42.5 37.5 Grace period (years) 9.4 7.4 9.8 9.3 10.1 10.1 10.3 9.9 Private creditors Interest (%) 2.5 1.9 0.0 0.0 0.0 4.7 0.0 3.9 Maturity (years) 13.3 3.7 1.0 0.0 0.0 11.1 0.0 3.0 Grace period (years) 6.8 1.6 1.0 0.0 0.0 1.6 0.0 3.0 5. Major economic aggregates Gross national income (GNI) 4,072 5,131 8,959 14,002 14,267 16,767 20,644 21,535 Exports of goods, services & income 544 1,297 1,341 3,029 3,526 4,210 5,327 4,643 Worker remit. & comp. of employees .. 1 8 19 15 14 19 18 Imports of goods, services & income 1,665 2,281 2,230 4,390 5,258 6,441 8,251 7,521 Profit remittances on FDI 0 2 13 66 66 68 68 .. Current account balance -559 -590 -499 -864 -1,143 -1,580 -2,307 .. International reserves 193 270 974 2,049 2,259 2,886 2,863 3,470 6. Ratios External debt stocks to exports (%) 1,184.3 567.9 532.6 275.8 114.8 119.0 112.0 157.8 External debt stocks to GNI (%) 158.3 143.5 79.7 59.7 28.4 29.9 28.9 34.0 Debt service to exports (%) 32.9 17.4 12.4 4.4 2.5 1.5 1.2 3.5 Short-term to external debt stocks (%) 8.1 13.1 11.9 12.0 24.7 21.3 22.6 18.3 Multilateral to external debt stocks (%) 30.6 37.9 45.7 58.3 36.7 43.6 44.9 48.8 Reserves to external debt stocks (%) 3.0 3.7 13.6 24.5 55.8 57.6 48.0 47.4 Reserves to imports (months) 1.4 1.4 5.2 5.6 5.2 5.4 4.2 5.5 278 TANZANIA 7. Long-term external debt Debt outstanding and disbursed 5,786 6,204 5,969 7,006 3,035 3,925 4,600 5,653 Public and publicly guaranteed 5,786 6,204 5,969 6,446 2,452 3,181 3,711 4,637 Official creditors 5,299 5,798 5,776 6,341 2,358 3,079 3,613 4,520 Multilateral 1,976 2,791 3,267 4,868 1,484 2,182 2,677 3,573 of which: IBRD 243 87 11 0 0 0 0 0 IDA 1,250 2,182 2,593 3,861 1,056 1,585 1,971 2,598 Bilateral 3,324 3,008 2,508 1,472 873 897 936 947 Private creditors 487 406 194 105 95 102 98 118 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 83 75 81 66 54 60 57 59 Private nonguaranteed 0 0 0 560 583 744 889 1,016 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 296 261 211 466 573 649 523 1,065 Public and publicly guaranteed 296 261 211 466 573 649 523 919 Official creditors 280 220 206 447 560 646 523 889 Multilateral 200 187 187 444 494 627 523 884 of which: IBRD 0 0 0 0 0 0 0 0 IDA 186 160 142 275 416 475 394 608 Bilateral 80 33 19 3 66 19 0 5 Private creditors 17 40 5 19 13 3 0 30 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 4 5 5 19 13 3 0 0 Private nonguaranteed 0 0 0 0 0 0 0 146 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 89 122 94 31 36 20 22 105 Public and publicly guaranteed 89 122 94 31 36 20 13 26 Official creditors 77 100 77 31 33 19 13 13 Multilateral 45 78 29 26 27 13 13 13 of which: IBRD 26 34 4 0 0 0 0 0 IDA 6 12 9 15 7 1 1 1 Bilateral 33 21 47 5 7 6 0 0 Private creditors 12 22 17 0 2 1 0 13 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 2 1 0 0 Private nonguaranteed 0 0 0 0 0 0 9 79 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 47 80 51 44 39 26 27 45 Public and publicly guaranteed 47 80 51 42 37 23 21 27 Official creditors 44 77 49 42 35 22 21 24 Multilateral 27 56 23 38 29 17 21 24 of which: IBRD 17 8 1 0 0 0 0 0 IDA 8 16 15 30 19 10 13 15 Bilateral 17 20 26 4 7 6 0 1 Private creditors 3 3 2 0 2 1 0 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 2 1 0 0 Private nonguaranteed 0 0 0 2 2 2 6 18 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 602 144 -717 -223 -4,306 959 956 1,361 Net flows on external debt 224 98 205 459 557 665 647 1,188 9. Debt restructurings Total amount rescheduled 183 0 342 0 0 0 0 0 Total amount forgiven 113 140 588 296 5,202 13 22 5 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 105 93 97 78 85 100 124 144 Interest 40 42 43 44 44 43 42 41 Private creditors Principal 184 160 185 219 101 77 65 49 Interest 37 32 28 18 15 12 10 9 Notes: Data on long-term public and publicly guaranteed debt include debt liabilities of Zanzibar. Data on long-term private nonguaranteed debt are World Bank staff estimates from 2004 to 2007. Data on long-term private nonguaranteed debt are reported by Central Bank from 2008. Tanzania was granted debt relief effective in 2006 under MDRI. 279 THAILAND 1. Summary external debt data External debt stocks 28,094 100,039 79,720 46,354 45,893 48,644 54,858 58,755 Long-term external debt 19,771 55,944 61,778 30,340 28,081 27,004 30,644 30,873 Public and publicly guaranteed 12,460 16,826 29,463 14,666 12,543 10,856 11,583 11,185 Private nonguaranteed 7,311 39,117 32,316 15,675 15,538 16,148 19,061 19,689 Use of IMF credit 1 0 3,062 0 0 0 0 0 Short-term external debt 8,322 44,095 14,880 16,014 17,812 21,640 24,214 27,881 interest arrears on long-term 0 0 0 0 0 0 4 8 Memorandum items 0 0 0 0 0 0 0 0 12,460 16,826 29,463 14,666 12,543 10,856 11,583 11,185 7,311 39,117 32,316 15,675 15,538 16,148 19,061 19,689 1,755 2,930 1,337 2,166 500 511 2,663 923 External debt flows Disbursements 4,569 10,715 4,031 16,133 13,725 18,130 13,049 9,043 Long-term external debt 4,569 10,715 4,031 16,133 13,725 18,130 13,049 9,043 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 3,264 4,398 9,142 16,561 12,833 20,474 15,225 10,909 Long-term external debt 2,983 4,398 8,945 16,561 12,833 20,474 15,225 10,909 IMF repurchases 281 0 198 0 0 0 0 0 Net flows 3,515 21,233 -13,649 4,098 2,690 1,484 393 1,797 Long-term external debt 1,586 6,317 -4,913 -428 892 -2,344 -2,177 -1,866 Short-term external debt 2,210 14,916 -8,538 4,526 1,798 3,828 2,570 3,663 Interest payments 2,026 4,189 4,849 1,624 1,919 1,748 1,858 1,714 Long-term external debt 1,355 2,646 3,776 1,121 1,157 959 1,285 1,220 IMF charges 21 0 168 0 0 0 0 0 Short-term external debt 650 1,543 905 503 761 789 573 495 2. Other non-debt resource inflows Foreign direct investment 2,444 2,068 3,366 8,055 9,453 11,324 8,570 5,956 Portfolio equity 440 2,253 900 5,121 5,242 4,268 -3,802 1,871 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.9 2.1 2.5 2.0 1.9 Japanese yen 42.7 47.7 46.3 53.6 56.1 58.6 56.3 59.7 Pound sterling 0.4 0.2 0.1 0.1 0.1 0.1 0.0 0.0 Swiss franc 5.7 0.9 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 15.8 27.2 46.3 42.9 40.9 38.0 41.0 38.1 4. Average terms of new commitments Official creditors Interest (%) 4.4 4.4 1.5 1.6 0.0 2.0 1.0 1.0 Maturity (years) 25.6 23.5 38.1 17.5 0.0 17.2 24.7 24.1 Grace period (years) 7.8 6.4 8.2 6.9 0.0 5.2 6.7 6.6 Private creditors Interest (%) 5.8 6.6 1.5 4.3 5.4 5.4 3.4 3.7 Maturity (years) 15.2 8.9 7.3 10.5 5.9 9.6 6.3 9.1 Grace period (years) 5.9 4.3 3.5 9.1 2.3 9.9 3.5 1.1 5. Major economic aggregates Gross national income (GNI) 84,271 165,281 120,809 167,799 198,875 238,083 261,738 252,013 Exports of goods, services & income 31,289 74,093 85,997 133,171 157,417 188,929 215,726 186,086 Worker remit. & comp. of employees 973 1,695 1,697 1,187 1,333 1,635 1,898 1,637 Imports of goods, services & income 38,783 88,161 77,269 143,821 158,468 177,190 218,794 170,291 Profit remittances on FDI 312 .. .. 4,501 4,031 5,798 4,162 4,162 Current account balance -7,281 -13,582 9,313 -7,647 2,316 15,678 1,698 20,284 International reserves 14,258 36,939 32,665 52,076 67,008 87,472 111,009 138,419 6. Ratios External debt stocks to exports (%) 89.8 135.0 92.7 34.8 29.2 25.7 25.4 31.6 External debt stocks to GNI (%) 33.3 60.5 66.0 27.6 23.1 20.4 21.0 23.3 Debt service to exports (%) 16.9 11.6 16.3 13.7 9.4 11.8 7.9 6.8 Short-term to external debt stocks (%) 29.6 44.1 18.7 34.5 38.8 44.5 44.1 47.5 Multilateral to external debt stocks (%) 13.2 3.2 6.7 1.8 1.4 0.6 0.5 0.4 Reserves to external debt stocks (%) 50.8 36.9 41.0 112.3 146.0 179.8 202.4 235.6 Reserves to imports (months) 4.4 5.0 5.1 4.3 5.1 5.9 6.1 9.8 280 THAILAND 7. Long-term external debt Debt outstanding and disbursed 19,771 55,944 61,778 30,340 28,081 27,004 30,644 30,873 Public and publicly guaranteed 12,460 16,826 29,463 14,666 12,543 10,856 11,583 11,185 Official creditors 8,283 11,187 20,820 7,862 7,023 6,297 6,947 6,469 Multilateral 3,716 3,206 5,330 819 632 288 264 208 of which: IBRD 2,421 1,805 2,940 386 336 63 65 74 IDA 109 102 90 73 69 66 62 59 Bilateral 4,567 7,981 15,489 7,043 6,391 6,009 6,683 6,261 Private creditors 4,177 5,639 8,643 6,804 5,521 4,560 4,636 4,716 of which: Bonds 738 1,574 2,630 4,236 3,046 2,566 1,954 1,754 Commercial banks 2,126 3,045 5,116 2,077 2,067 1,673 2,446 2,818 Private nonguaranteed 7,311 39,117 32,316 15,675 15,538 16,148 19,061 19,689 of which: Bonds 40 7,375 8,414 4,385 3,535 3,281 3,181 3,040 Disbursements 4,569 10,715 4,031 16,133 13,725 18,130 13,049 9,043 Public and publicly guaranteed 1,277 2,758 3,031 1,871 926 564 1,598 866 Official creditors 886 1,417 2,156 434 426 274 74 76 Multilateral 263 358 751 43 36 2 2 13 of which: IBRD 174 146 456 30 31 2 2 13 IDA 0 0 0 0 0 0 0 0 Bilateral 624 1,059 1,405 391 389 272 73 63 Private creditors 391 1,341 876 1,436 500 290 1,524 790 of which: Bonds 0 242 0 936 200 290 524 0 Commercial banks 110 1,088 455 300 300 0 1,000 790 Private nonguaranteed 3,292 7,956 1,000 14,262 12,799 17,566 11,451 8,177 of which: Bonds 0 2,080 0 1,300 735 475 0 0 Principal repayments 2,983 4,398 8,945 16,561 12,833 20,474 15,225 10,909 Public and publicly guaranteed 2,393 1,888 3,010 2,806 2,799 1,987 2,530 1,186 Official creditors 788 925 1,666 2,321 1,211 1,272 1,008 467 Multilateral 438 360 753 528 224 351 30 69 of which: IBRD 207 201 181 128 81 275 0 4 IDA 1 2 3 3 3 3 3 3 Bilateral 349 566 912 1,793 987 921 978 398 Private creditors 1,605 962 1,344 485 1,588 715 1,521 719 of which: Bonds 87 199 174 172 1,308 219 1,192 200 Commercial banks 1,324 430 1,072 261 179 397 227 428 Private nonguaranteed 591 2,510 5,935 13,755 10,034 18,488 12,696 9,723 of which: Bonds 0 0 1,044 908 1,585 729 100 141 Interest payments 1,355 2,646 3,776 1,121 1,157 959 1,285 1,220 Public and publicly guaranteed 874 874 1,577 484 499 397 450 365 Official creditors 442 521 1,008 234 188 155 120 112 Multilateral 284 218 350 54 36 26 9 6 of which: IBRD 188 135 178 29 21 16 3 2 IDA 1 1 1 1 1 1 0 0 Bilateral 158 302 658 180 153 129 111 106 Private creditors 432 353 569 250 311 242 330 253 of which: Bonds 46 97 193 158 188 125 107 60 Commercial banks 227 195 353 77 106 103 212 189 Private nonguaranteed 481 1,772 2,199 637 658 562 836 855 of which: Bonds 2 222 476 286 268 275 244 251 8. Debt stock-flow reconciliation Total change in external debt stocks 4,606 34,505 -17,050 -3,079 -461 2,751 6,213 3,897 Net flows on external debt 3,515 21,233 -13,649 4,098 2,690 1,484 393 1,797 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 431 441 394 414 417 454 470 461 Interest 111 114 112 106 101 93 85 77 Private creditors Principal 5,823 3,467 3,239 2,886 2,098 1,847 1,007 1,085 Interest 772 628 546 443 346 240 197 137 Notes: Short-term debt data for 2009 are World Bank staff estimates based on government statistics. Historical data on long-term private nonguaranteed debt are revised based on reports provided by the country. 281 TOGO 1. Summary external debt data External debt stocks 1,281 1,476 1,430 1,678 1,787 1,967 1,638 1,640 Long-term external debt 1,081 1,286 1,228 1,445 1,551 1,652 1,479 1,502 Public and publicly guaranteed 1,081 1,286 1,228 1,445 1,551 1,652 1,479 1,502 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 87 105 70 14 8 2 48 91 Short-term external debt 113 85 132 220 227 313 111 47 interest arrears on long-term 1 27 63 168 208 237 27 30 Memorandum items 3 64 62 308 365 431 47 40 1,081 1,286 1,228 1,445 1,551 1,652 1,479 1,502 0 0 0 0 0 0 0 0 115 69 0 26 51 20 0 212 External debt flows Disbursements 110 59 24 15 53 3 52 76 Long-term external debt 89 26 24 15 53 3 2 35 IMF purchases 21 33 0 0 0 0 49 41 Principal repayments 43 18 19 19 22 11 142 41 Long-term external debt 27 7 10 8 16 4 141 41 IMF repurchases 16 11 9 11 6 7 2 0 Net flows 16 39 -44 22 -3 49 -83 -33 Long-term external debt 62 19 14 7 37 -1 -138 -7 Short-term external debt -51 -2 -49 26 -33 57 8 -67 Interest payments 43 11 10 2 4 4 54 14 Long-term external debt 33 8 5 0 2 2 51 13 IMF charges 4 1 0 0 0 0 0 0 Short-term external debt 6 3 5 1 2 2 3 0 2. Other non-debt resource inflows Foreign direct investment 18 26 42 77 77 49 24 50 Portfolio equity 4 0 6 16 10 6 1 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 18.3 19.0 19.9 14.7 14.6 Japanese yen 3.0 3.3 6.2 4.9 4.6 4.5 4.1 3.9 Pound sterling 1.9 1.7 1.6 1.2 1.2 1.2 0.1 0.1 Swiss franc 10.3 10.9 7.8 9.2 9.3 9.4 4.4 4.2 U.S.dollars 44.2 47.4 52.6 49.6 48.1 46.7 58.3 56.4 4. Average terms of new commitments Official creditors Interest (%) 0.7 0.7 0.0 1.7 1.3 1.0 0.0 1.9 Maturity (years) 39.5 37.6 0.0 25.8 20.9 20.1 0.0 21.8 Grace period (years) 10.4 9.9 0.0 6.2 5.0 0.6 0.0 8.1 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,598 1,265 1,300 2,073 2,180 2,478 2,892 2,850 Exports of goods, services & income 696 473 457 857 879 974 1,217 .. Worker remit. & comp. of employees 27 15 34 193 232 284 337 329 Imports of goods, services & income 912 713 664 1,249 1,299 1,469 1,763 .. Profit remittances on FDI 15 1 17 47 55 44 51 .. Current account balance -84 -122 -140 -204 -176 -216 -222 .. International reserves 358 130 152 195 375 438 582 703 6. Ratios External debt stocks to exports (%) 184.1 311.7 313.1 195.8 203.3 201.9 134.6 .. External debt stocks to GNI (%) 80.1 116.7 110.0 81.0 82.0 79.4 56.6 57.5 Debt service to exports (%) 12.3 6.2 6.5 2.4 3.0 1.6 16.1 .. Short-term to external debt stocks (%) 8.8 5.8 9.3 13.1 12.7 15.9 6.8 2.9 Multilateral to external debt stocks (%) 43.7 48.3 53.6 52.7 53.3 51.1 52.3 51.0 Reserves to external debt stocks (%) 28.0 8.8 10.7 11.6 21.0 22.3 35.5 42.9 Reserves to imports (months) 4.7 2.2 2.8 1.9 3.5 3.6 4.0 .. 282 TOGO 7. Long-term external debt Debt outstanding and disbursed 1,081 1,286 1,228 1,445 1,551 1,652 1,479 1,502 Public and publicly guaranteed 1,081 1,286 1,228 1,445 1,551 1,652 1,479 1,502 Official creditors 1,029 1,235 1,228 1,445 1,551 1,652 1,479 1,502 Multilateral 560 713 766 885 952 1,004 856 837 of which: IBRD 5 0 0 0 0 0 0 0 IDA 393 541 604 667 696 723 604 586 Bilateral 469 522 461 560 599 648 623 665 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 15 53 3 2 35 Public and publicly guaranteed 89 26 24 15 53 3 2 35 Official creditors 89 26 24 15 53 3 2 35 Multilateral 45 26 21 15 30 3 2 12 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 23 0 0 23 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 8 16 4 141 41 Public and publicly guaranteed 27 7 10 8 16 4 141 41 Official creditors 27 7 10 8 16 4 141 41 Multilateral 17 6 9 1 2 3 140 41 of which: IBRD 8 0 0 0 0 0 0 0 IDA 1 3 5 0 0 0 117 22 Bilateral 10 1 2 7 14 2 1 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 33 8 5 0 2 2 51 13 Public and publicly guaranteed 33 8 5 0 2 2 51 13 Official creditors 28 8 5 0 2 2 51 13 Multilateral 8 5 5 0 0 1 51 13 of which: IBRD 1 0 0 0 0 0 0 0 IDA 3 4 3 0 0 0 40 5 Bilateral 20 3 0 0 1 1 0 1 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 -146 108 180 -329 2 Net flows on external debt 16 39 -44 22 -3 49 -83 -33 9. Debt restructurings Total amount rescheduled 79 133 0 0 0 0 274 35 Total amount forgiven 18 107 0 0 0 0 318 16 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 54 56 58 62 70 69 73 75 Interest 27 27 27 26 25 24 23 22 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data on long-term public and publicly guaranteed debt include the effects of Paris Club debt restructuring agreement signed in 2009. 283 TONGA 1. Summary external debt data External debt stocks 44.5 62.8 65.2 79.6 81.6 86.4 88.7 104.5 Long-term external debt 44.5 62.8 65.0 79.5 81.5 86.4 88.7 104.5 Public and publicly guaranteed 44.5 62.8 65.0 79.5 81.5 86.4 88.7 104.5 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.2 0.1 0.1 0.0 0.0 0.0 interest arrears on long-term 0.0 0.0 0.2 0.1 0.1 0.0 0.0 0.0 Memorandum items 0.0 0.0 0.4 0.6 1.3 1.5 0.4 0.7 44.5 62.8 65.0 79.5 81.5 86.4 88.7 104.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.7 12.0 0.0 1.0 0.0 57.9 0.0 0.8 External debt flows Disbursements 3.3 6.2 5.4 4.5 2.8 4.5 8.5 17.4 Long-term external debt 3.3 6.2 5.4 4.5 2.8 4.5 8.5 17.4 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.0 2.4 3.7 3.7 3.3 3.6 3.7 2.4 Long-term external debt 1.0 2.4 3.7 3.7 3.3 3.6 3.7 2.4 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 2.2 3.8 1.8 0.9 -0.5 0.9 4.8 15.0 Long-term external debt 2.2 3.8 1.8 0.9 -0.5 0.9 4.8 15.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 0.5 0.7 0.9 1.2 0.8 1.1 1.7 1.4 Long-term external debt 0.5 0.7 0.9 1.2 0.8 1.1 1.7 1.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 0.2 1.0 4.8 7.2 10.1 27.7 4.2 14.6 Portfolio equity -0.1 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.3 5.8 3.7 0.1 0.1 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 6.0 1.6 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 1.0 10.7 4.8 28.0 31.2 35.1 33.8 30.3 4. Average terms of new commitments Official creditors Interest (%) 0.9 4.5 0.0 0.8 0.0 2.0 0.0 0.0 Maturity (years) 39.7 35.9 0.0 39.9 0.0 20.8 0.0 0.0 Grace period (years) 10.2 8.9 0.0 10.4 0.0 5.8 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 116.5 169.3 155.1 261.6 301.3 311.3 353.3 318.4 Exports of goods, services & income 43.5 .. .. 59.5 44.2 51.1 59.9 49.8 Worker remit. & comp. of employees 24.0 .. .. 68.9 78.9 101.3 94.1 90.6 Imports of goods, services & income 75.0 .. .. 157.3 158.1 181.3 216.4 147.7 Profit remittances on FDI 0.3 .. .. 0.0 0.0 0.0 0.0 .. Current account balance 5.8 .. .. -21.3 -31.1 -19.4 -60.1 .. International reserves 31.3 28.7 24.6 46.9 48.0 65.2 69.8 95.7 6. Ratios External debt stocks to exports (%) 102.3 .. .. 133.9 184.5 169.0 148.1 209.9 External debt stocks to GNI (%) 38.2 37.1 42.1 30.4 27.1 27.7 25.1 32.8 Debt service to exports (%) 3.5 .. .. 8.2 9.2 9.2 9.1 7.7 Short-term to external debt stocks (%) .. .. 0.4 0.1 0.2 .. .. .. Multilateral to external debt stocks (%) 51.1 66.4 81.9 84.4 85.4 87.0 81.2 69.7 Reserves to external debt stocks (%) 70.5 45.7 37.8 58.9 58.8 75.5 78.6 91.6 Reserves to imports (months) 5.0 .. .. 3.6 3.6 4.3 3.9 7.8 284 TONGA 7. Long-term external debt Debt outstanding and disbursed 44.5 62.8 65.0 79.5 81.5 86.4 88.7 104.5 Public and publicly guaranteed 44.5 62.8 65.0 79.5 81.5 86.4 88.7 104.5 Official creditors 44.5 58.5 65.0 79.5 81.5 86.4 88.7 103.6 Multilateral 22.7 41.7 53.4 67.2 69.7 75.2 72.1 72.8 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 12.6 16.0 21.1 21.6 23.2 Bilateral 21.7 16.8 11.6 12.3 11.8 11.2 16.6 30.8 Private creditors 0.0 4.3 0.0 0.0 0.0 0.0 0.0 0.9 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 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 4.5 2.8 4.5 8.5 17.4 Public and publicly guaranteed 3.3 6.2 5.4 4.5 2.8 4.5 8.5 17.4 Official creditors 3.3 6.2 5.4 4.5 2.8 4.5 8.5 16.5 Multilateral 3.3 6.2 3.0 4.5 2.8 4.5 0.7 1.6 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 4.5 2.8 4.5 0.7 1.6 Bilateral 0.0 0.0 2.4 0.0 0.0 0.0 7.8 15.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 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 3.7 3.3 3.6 3.7 2.4 Public and publicly guaranteed 1.0 2.4 3.7 3.7 3.3 3.6 3.7 2.4 Official creditors 1.0 2.4 2.4 3.7 3.3 3.6 3.7 2.4 Multilateral 0.5 0.8 1.0 2.6 2.1 2.1 2.3 1.5 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 1.1 1.2 1.4 1.5 0.8 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 1.2 0.8 1.1 1.7 1.4 Public and publicly guaranteed 0.5 0.7 0.9 1.2 0.8 1.1 1.7 1.4 Official creditors 0.5 0.7 0.8 1.2 0.8 1.1 1.7 1.4 Multilateral 0.2 0.5 0.5 0.9 0.7 0.8 0.9 0.6 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 0.2 0.2 Bilateral 0.3 0.2 0.3 0.3 0.1 0.3 0.8 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 -5.3 2.0 4.7 2.4 15.8 Net flows on external debt 2.2 3.8 1.8 0.9 -0.5 0.9 4.8 15.0 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 3.6 4.1 4.2 6.3 7.5 7.5 7.5 7.5 Interest 1.8 2.0 2.1 2.1 2.0 2.0 1.9 1.8 Private creditors Principal 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 285 TUNISIA 1. Summary external debt data External debt stocks 7,688 10,818 11,307 17,875 18,634 20,441 20,772 21,709 Long-term external debt 6,878 9,215 9,684 14,740 15,277 16,457 16,445 16,907 Public and publicly guaranteed 6,660 9,022 8,884 12,999 13,438 14,508 14,438 14,837 Private nonguaranteed 218 193 800 1,741 1,839 1,949 2,007 2,070 Use of IMF credit 176 293 32 0 0 0 0 0 Short-term external debt 634 1,310 1,590 3,135 3,357 3,984 4,327 4,801 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 15 1 0 0 0 0 0 0 6,660 9,016 8,884 12,969 13,408 14,418 14,343 14,689 218 200 800 1,772 1,869 2,038 2,102 2,218 799 1,949 1,412 1,738 1,125 992 1,497 1,218 External debt flows Disbursements 1,017 1,389 1,542 1,256 1,453 1,615 1,079 1,543 Long-term external debt 1,017 1,389 1,542 1,256 1,453 1,615 1,079 1,543 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 984 939 1,336 1,186 1,652 1,570 1,165 1,346 Long-term external debt 872 924 1,295 1,186 1,652 1,570 1,165 1,346 IMF repurchases 111 15 40 0 0 0 0 0 Net flows 292 654 259 -141 22 672 257 671 Long-term external debt 144 465 246 69 -200 45 -86 196 Short-term external debt 259 204 52 -210 222 627 343 474 Interest payments 447 541 570 848 881 926 845 758 Long-term external debt 394 486 489 686 686 742 744 700 IMF charges 23 17 3 0 0 0 0 0 Short-term external debt 30 38 78 162 195 184 101 58 2. Other non-debt resource inflows Foreign direct investment 76 264 752 723 3,270 1,532 2,638 1,595 Portfolio equity 5 12 -18 12 65 30 -39 -89 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 40.1 46.7 50.2 48.5 49.0 Japanese yen 8.6 13.5 21.6 17.4 14.4 15.4 19.5 18.5 Pound sterling 0.1 0.0 0.5 0.3 0.2 0.1 0.1 0.1 Swiss franc 0.6 0.2 0.7 0.5 0.4 0.3 0.3 0.3 U.S.dollars 21.8 17.5 30.0 20.3 17.7 14.3 12.8 12.5 4. Average terms of new commitments Official creditors Interest (%) 6.0 6.2 4.0 3.1 3.2 2.1 3.0 1.7 Maturity (years) 18.5 24.1 20.8 19.2 21.5 22.3 20.7 22.0 Grace period (years) 5.0 4.6 6.0 3.5 6.4 5.9 5.2 5.4 Private creditors Interest (%) 8.1 6.0 3.9 4.4 4.8 3.4 4.5 3.3 Maturity (years) 9.4 8.5 14.4 14.4 13.2 19.9 11.3 15.8 Grace period (years) 2.1 5.1 12.5 12.7 1.8 18.9 1.6 4.4 5. Major economic aggregates Gross national income (GNI) 11,882 17,174 18,526 27,309 29,553 33,625 38,471 37,328 Exports of goods, services & income 5,300 8,098 8,701 14,969 16,350 20,620 25,719 20,787 Worker remit. & comp. of employees 551 680 796 1,393 1,510 1,716 1,977 1,966 Imports of goods, services & income 6,591 9,646 10,347 16,580 18,412 23,155 29,352 22,516 Profit remittances on FDI 97 174 468 962 988 1,523 1,958 1,588 Current account balance -463 -774 -821 -299 -619 -917 -1,711 .. International reserves 867 1,689 1,871 4,548 6,912 8,032 9,039 11,294 6. Ratios External debt stocks to exports (%) 145.1 133.6 129.9 119.4 114.0 99.1 80.8 104.4 External debt stocks to GNI (%) 64.7 63.0 61.0 65.5 63.1 60.8 54.0 58.2 Debt service to exports (%) 27.0 18.3 21.9 13.6 15.5 12.1 7.8 10.1 Short-term to external debt stocks (%) 8.2 12.1 14.1 17.5 18.0 19.5 20.8 22.1 Multilateral to external debt stocks (%) 29.0 35.0 30.7 30.6 30.4 30.5 28.5 30.0 Reserves to external debt stocks (%) 11.3 15.6 16.6 25.4 37.1 39.3 43.5 52.0 Reserves to imports (months) 1.6 2.1 2.2 3.3 4.5 4.2 3.7 6.0 286 TUNISIA 7. Long-term external debt Debt outstanding and disbursed 6,878 9,215 9,684 14,740 15,277 16,457 16,445 16,907 Public and publicly guaranteed 6,660 9,022 8,884 12,999 13,438 14,508 14,438 14,837 Official creditors 5,240 7,398 6,089 8,387 8,724 9,536 9,262 9,959 Multilateral 2,233 3,783 3,477 5,477 5,657 6,227 5,917 6,511 of which: IBRD 1,347 1,717 1,211 1,565 1,444 1,571 1,353 1,385 IDA 59 49 39 28 26 24 22 20 Bilateral 3,008 3,616 2,612 2,909 3,067 3,308 3,345 3,448 Private creditors 1,420 1,624 2,795 4,613 4,714 4,972 5,176 4,878 of which: Bonds 0 535 1,327 3,510 3,636 3,899 4,050 3,776 Commercial banks 339 236 786 817 847 900 998 994 Private nonguaranteed 218 193 800 1,741 1,839 1,949 2,007 2,070 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,017 1,389 1,542 1,256 1,453 1,615 1,079 1,543 Public and publicly guaranteed 987 1,359 1,242 1,126 1,283 1,426 909 1,363 Official creditors 699 611 709 843 963 1,103 831 1,311 Multilateral 430 467 428 606 673 846 550 941 of which: IBRD 213 138 136 177 112 161 70 184 IDA 0 0 0 0 0 0 0 0 Bilateral 269 145 281 236 290 256 282 370 Private creditors 288 747 533 283 320 324 78 52 of which: Bonds 0 588 0 249 251 255 0 0 Commercial banks 88 56 488 32 67 68 72 50 Private nonguaranteed 30 30 300 130 170 189 170 180 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 872 924 1,295 1,186 1,652 1,570 1,165 1,346 Public and publicly guaranteed 835 889 1,263 1,128 1,580 1,491 1,053 1,230 Official creditors 357 639 661 868 1,152 1,094 950 831 Multilateral 168 363 408 533 843 783 634 502 of which: IBRD 111 203 150 232 366 169 273 152 IDA 1 2 2 2 2 2 2 2 Bilateral 189 276 253 336 309 310 316 330 Private creditors 478 250 602 260 429 397 103 398 of which: Bonds 60 0 371 136 301 250 0 313 Commercial banks 113 63 134 63 67 86 62 61 Private nonguaranteed 37 35 32 58 72 79 112 117 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 394 486 489 686 686 742 744 700 Public and publicly guaranteed 384 478 479 584 595 619 629 598 Official creditors 249 368 297 332 336 354 364 334 Multilateral 149 255 215 249 262 270 286 261 of which: IBRD 103 129 79 69 72 67 74 57 IDA 0 0 0 0 0 0 0 0 Bilateral 100 113 82 83 74 83 78 73 Private creditors 136 110 182 251 259 265 265 263 of which: Bonds 5 14 99 200 211 216 217 217 Commercial banks 35 18 37 36 35 38 39 40 Private nonguaranteed 10 8 10 102 91 123 115 102 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 -1,627 759 1,807 331 937 Net flows on external debt 292 654 259 -141 22 672 257 671 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,309 1,183 1,108 1,069 1,065 1,067 977 942 Interest 282 279 267 249 228 204 179 155 Private creditors Principal 1,061 1,294 1,089 754 230 179 156 368 Interest 357 311 222 162 132 120 110 99 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates based on information provided by the government. Short-term debt is based on reports provided by the country. 287 TURKEY 1. Summary external debt data External debt stocks 49,424 73,781 116,646 164,857 195,537 235,984 263,532 251,372 Long-term external debt 39,924 57,396 83,558 114,831 150,442 191,922 211,511 203,689 Public and publicly guaranteed 38,870 50,317 55,730 64,470 69,827 80,205 81,595 84,875 Private nonguaranteed 1,054 7,079 27,828 50,360 80,615 111,717 129,916 118,814 Use of IMF credit 0 685 4,176 14,646 10,762 7,158 8,524 7,958 Short-term external debt 9,500 15,701 28,912 35,380 34,333 36,903 43,497 39,725 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 38,570 50,131 55,713 64,299 69,616 79,723 80,474 83,574 1,354 7,265 27,846 50,532 80,826 112,199 131,037 120,115 4,628 4,435 14,470 10,464 11,233 13,472 12,324 8,706 External debt flows Disbursements 5,243 6,980 26,414 39,965 55,059 67,989 68,619 41,511 Long-term external debt 5,243 6,638 22,955 37,505 52,118 66,842 65,065 41,511 IMF purchases 0 341 3,459 2,461 2,941 1,147 3,554 0 Principal repayments 4,010 7,020 13,831 32,429 31,002 36,481 42,069 50,015 Long-term external debt 3,961 7,020 13,744 24,649 23,510 31,317 40,102 49,309 IMF repurchases 49 0 87 7,780 7,493 5,164 1,967 706 Net flows 4,988 4,350 18,023 12,055 23,010 34,079 33,145 -12,277 Long-term external debt 1,282 -382 9,211 12,856 28,609 35,525 24,963 -7,798 Short-term external debt 3,755 4,391 5,440 4,519 -1,047 2,570 6,594 -3,772 Interest payments 3,412 4,431 6,853 9,245 10,481 12,534 12,526 11,563 Long-term external debt 2,891 3,464 5,000 6,404 7,522 9,870 10,899 9,981 IMF charges 4 24 52 951 799 563 408 192 Short-term external debt 517 942 1,800 1,890 2,160 2,100 1,218 1,390 2. Other non-debt resource inflows Foreign direct investment 684 885 982 10,031 20,185 22,047 18,269 7,955 Portfolio equity 89 195 489 5,669 1,939 5,138 716 2,827 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 23.4 25.1 27.5 28.1 30.3 Japanese yen 12.1 23.3 12.1 3.8 3.2 2.9 3.9 3.8 Pound sterling 0.8 0.9 0.8 0.1 0.0 0.0 0.0 0.0 Swiss franc 5.2 2.9 0.3 0.2 0.2 0.2 0.3 0.3 U.S.dollars 40.0 38.3 58.0 72.0 70.9 68.8 67.2 65.2 4. Average terms of new commitments Official creditors Interest (%) 6.7 5.4 6.5 2.8 4.5 4.4 4.5 2.6 Maturity (years) 17.0 17.7 14.6 24.6 16.2 18.2 21.9 18.1 Grace period (years) 7.3 5.7 4.8 6.7 6.2 6.9 6.8 7.1 Private creditors Interest (%) 9.4 6.3 8.6 6.1 6.4 6.4 6.9 6.7 Maturity (years) 6.5 4.5 11.3 13.1 11.5 11.2 13.2 9.0 Grace period (years) 3.2 2.7 8.5 12.1 10.0 9.1 10.9 8.6 5. Major economic aggregates Gross national income (GNI) 148,168 166,281 262,566 477,105 524,209 640,047 722,178 609,428 Exports of goods, services & income 21,959 38,070 53,189 108,782 123,628 150,811 182,685 148,018 Worker remit. & comp. of employees 3,246 3,327 4,560 887 1,146 1,248 1,476 970 Imports of goods, services & income 28,949 44,806 67,873 132,433 157,733 191,365 226,744 164,278 Profit remittances on FDI 161 312 279 1,051 1,182 2,208 2,937 2,444 Current account balance -2,625 -2,338 -9,920 -22,197 -32,197 -38,311 -41,946 -13,961 International reserves 7,626 13,891 23,515 52,494 63,265 76,496 73,675 74,933 6. Ratios External debt stocks to exports (%) 225.1 193.8 219.3 151.5 158.2 156.5 144.3 169.8 External debt stocks to GNI (%) 33.4 44.4 44.4 34.6 37.3 36.9 36.5 41.2 Debt service to exports (%) 33.8 30.1 38.9 38.3 33.6 32.5 29.9 41.6 Short-term to external debt stocks (%) 19.2 21.3 24.8 21.5 17.6 15.6 16.5 15.8 Multilateral to external debt stocks (%) 19.5 12.1 4.9 4.6 4.5 5.1 5.3 6.7 Reserves to external debt stocks (%) 15.4 18.8 20.2 31.8 32.4 32.4 28.0 29.8 Reserves to imports (months) 3.2 3.7 4.2 4.8 4.8 4.8 3.9 5.5 288 TURKEY 7. Long-term external debt Debt outstanding and disbursed 39,924 57,396 83,558 114,831 150,442 191,922 211,511 203,689 Public and publicly guaranteed 38,870 50,317 55,730 64,470 69,827 80,205 81,595 84,875 Official creditors 18,150 17,324 12,537 12,435 13,469 17,083 19,776 23,154 Multilateral 9,627 8,962 5,684 7,622 8,758 12,074 13,881 16,870 of which: IBRD 6,272 4,939 3,634 5,829 6,854 7,541 8,046 9,769 IDA 157 130 101 71 65 59 54 48 Bilateral 8,523 8,362 6,853 4,813 4,711 5,009 5,894 6,284 Private creditors 20,720 32,993 43,193 52,035 56,358 63,122 61,819 61,721 of which: Bonds 4,976 13,646 21,766 30,434 34,390 39,638 39,093 40,808 Commercial banks 13,403 15,643 19,313 20,836 21,386 22,996 22,293 20,503 Private nonguaranteed 1,054 7,079 27,828 50,360 80,615 111,717 129,916 118,814 of which: Bonds 16 149 1,784 4,025 5,776 6,662 6,759 6,606 Disbursements 5,243 6,638 22,955 37,505 52,118 66,842 65,065 41,511 Public and publicly guaranteed 4,700 4,862 14,075 7,756 9,511 11,050 10,745 9,829 Official creditors 2,138 808 2,393 1,001 2,377 3,119 3,916 4,735 Multilateral 1,083 466 1,490 851 2,013 2,754 2,847 3,683 of which: IBRD 627 422 1,291 461 1,796 1,223 1,198 2,281 IDA 0 0 0 0 0 0 0 0 Bilateral 1,056 342 903 151 364 366 1,069 1,053 Private creditors 2,561 4,053 11,682 6,754 7,134 7,931 6,829 5,093 of which: Bonds 644 2,343 7,118 5,230 5,509 5,213 4,000 3,739 Commercial banks 1,435 1,256 4,207 1,520 1,624 2,698 2,764 1,275 Private nonguaranteed 543 1,777 8,881 29,749 42,608 55,792 54,320 31,682 of which: Bonds 0 0 454 3,125 1,727 950 150 150 Principal repayments 3,961 7,020 13,744 24,649 23,510 31,317 40,102 49,309 Public and publicly guaranteed 3,677 5,987 6,268 7,957 6,133 6,491 7,669 6,471 Official creditors 1,920 1,991 1,745 1,653 1,672 1,674 1,576 1,650 Multilateral 825 1,229 1,043 863 1,003 960 934 1,002 of which: IBRD 620 882 486 755 807 666 628 662 IDA 4 6 6 6 6 6 6 6 Bilateral 1,094 762 702 790 668 714 642 648 Private creditors 1,758 3,996 4,523 6,303 4,462 4,816 6,094 4,822 of which: Bonds 47 1,716 1,869 3,993 2,463 2,798 3,902 2,387 Commercial banks 1,204 1,579 1,782 2,028 1,801 1,891 2,053 2,333 Private nonguaranteed 283 1,033 7,476 16,693 17,376 24,826 32,433 42,838 of which: Bonds 0 0 0 1,150 0 200 0 350 Interest payments 2,891 3,464 5,000 6,404 7,522 9,870 10,899 9,981 Public and publicly guaranteed 2,830 3,126 3,467 4,636 4,590 5,437 5,328 4,948 Official creditors 1,043 977 659 596 531 661 703 653 Multilateral 688 656 374 448 407 531 577 524 of which: IBRD 511 396 237 248 329 389 360 304 IDA 1 1 1 1 1 0 0 0 Bilateral 355 321 285 148 125 130 126 129 Private creditors 1,787 2,149 2,807 4,040 4,059 4,776 4,626 4,295 of which: Bonds 383 1,074 1,598 2,938 2,862 3,507 3,488 3,324 Commercial banks 1,204 782 1,064 1,049 1,155 1,233 1,110 952 Private nonguaranteed 61 339 1,533 1,768 2,932 4,433 5,571 5,034 of which: Bonds 1 13 126 338 328 412 371 288 8. Debt stock-flow reconciliation Total change in external debt stocks 7,847 7,532 15,019 5,366 30,680 40,446 27,549 -12,160 Net flows on external debt 4,988 4,350 18,023 12,055 23,010 34,079 33,145 -12,277 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 2,102 1,888 2,003 2,211 2,327 2,255 2,757 2,996 Interest 564 578 588 578 552 517 472 422 Private creditors Principal 33,671 25,338 23,627 18,327 14,038 12,611 10,808 9,662 Interest 7,415 7,268 6,643 6,101 4,820 4,798 3,691 3,182 Notes: Historical data are revised as data in previous publications included local currency debt data. Data on long-term public and publicly guaranteed debt include nonresident deposits made under the Dresdner Bank scheme, amounting to $11.5 billion at end-2009. Short-term debt data are based on government statistics. 289 TURKMENISTAN 1. Summary external debt data External debt stocks .. 402.2 2518.3 1058.0 886.0 743.4 638.2 575.7 Long-term external debt .. 384.9 2288.1 911.0 734.3 649.9 587.4 501.0 Public and publicly guaranteed .. 384.9 2271.3 877.8 730.5 648.2 586.8 463.3 Private nonguaranteed .. 0.0 16.7 33.1 3.9 1.8 0.6 37.6 Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt .. 17.4 230.3 147.0 151.7 93.5 50.8 74.8 interest arrears on long-term .. 9.4 5.0 5.0 3.7 3.5 0.8 0.8 Memorandum items .. 130.2 148.1 16.9 1.4 1.7 1.7 1.7 .. 384.9 2271.3 877.8 730.5 648.2 586.8 463.3 .. 0.0 16.7 33.1 3.9 1.8 0.6 37.6 .. 290.5 4.7 22.0 50.2 65.7 0.0 0.0 External debt flows Disbursements .. 113.0 430.1 89.0 9.5 38.9 25.9 35.4 Long-term external debt .. 113.0 430.1 89.0 9.5 38.9 25.9 35.4 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 80.3 353.0 261.4 216.5 166.3 140.8 149.1 Long-term external debt .. 80.3 353.0 261.4 216.5 166.3 140.8 149.1 IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows .. -39.2 -1.6 -280.4 -200.9 -185.4 -154.9 -89.7 Long-term external debt .. 32.8 77.1 -172.4 -206.9 -127.4 -114.9 -113.7 Short-term external debt .. -72.0 -78.8 -108.0 6.0 -58.0 -40.0 24.0 Interest payments .. 24.1 115.2 45.9 38.3 33.9 28.9 19.2 Long-term external debt .. 22.1 101.9 39.1 33.2 29.8 26.7 18.2 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt .. 2.0 13.2 6.8 5.1 4.0 2.2 1.0 2. Other non-debt resource inflows Foreign direct investment .. 233.0 131.0 418.2 730.9 804.0 820.0 1355.0 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 31.8 35.9 35.6 30.9 32.5 Japanese yen .. 0.0 31.6 43.7 43.3 40.5 41.5 33.4 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 72.1 51.5 18.2 13.4 9.8 7.9 6.4 4. Average terms of new commitments Official creditors Interest (%) .. 4.4 4.0 1.4 3.2 3.0 0.0 0.0 Maturity (years) .. 13.4 10.2 13.8 20.1 20.0 0.0 0.0 Grace period (years) .. 2.8 3.7 6.0 4.6 3.5 0.0 0.0 Private creditors Interest (%) .. 6.5 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 7.4 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 1.9 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 2500.6 2727.4 7541.4 9651.6 11917.2 15861.1 19238.4 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & income .. .. .. .. .. 4901.0 7781.0 .. Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves .. 1168.0 .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) .. 16.1 92.3 14.0 9.2 6.2 4.0 3.0 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) .. 4.3 9.1 13.9 17.1 12.6 8.0 13.0 Multilateral to external debt stocks (%) .. 14.5 1.9 3.8 3.4 3.1 3.1 3.0 Reserves to external debt stocks (%) .. 290.4 .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 290 TURKMENISTAN 7. Long-term external debt Debt outstanding and disbursed .. 384.9 2288.1 911.0 734.3 649.9 587.4 501.0 Public and publicly guaranteed .. 384.9 2271.3 877.8 730.5 648.2 586.8 463.3 Official creditors .. 218.8 838.6 685.9 575.2 523.4 500.2 409.5 Multilateral .. 58.2 48.3 40.4 30.1 23.0 20.1 17.4 of which: IBRD .. 0.9 28.0 29.1 21.0 15.4 14.2 12.8 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. 160.6 790.3 645.4 545.1 500.4 480.2 392.1 Private creditors .. 166.0 1432.7 192.0 155.3 124.8 86.5 53.9 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 240.5 125.4 109.1 90.2 63.5 42.3 Private nonguaranteed .. 0.0 16.7 33.1 3.9 1.8 0.6 37.6 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements .. 113.0 430.1 89.0 9.5 38.9 25.9 35.4 Public and publicly guaranteed .. 113.0 420.9 24.9 9.1 38.9 25.6 22.4 Official creditors .. 32.3 292.6 24.9 9.1 38.9 25.6 22.4 Multilateral .. 1.0 29.3 0.5 0.0 0.0 0.0 0.0 of which: IBRD .. 1.0 20.1 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 Bilateral .. 31.4 263.3 24.4 9.1 38.9 25.6 22.4 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 64.1 0.5 0.0 0.3 13.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 80.3 353.0 261.4 216.5 166.3 140.8 149.1 Public and publicly guaranteed .. 80.3 347.4 189.1 188.0 164.3 139.3 146.4 Official creditors .. 19.6 44.0 112.6 140.5 124.6 104.3 112.4 Multilateral .. 0.0 4.7 4.6 10.9 7.5 2.8 2.8 of which: IBRD .. 0.0 0.5 1.8 8.2 5.6 1.2 1.3 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. 19.6 39.3 108.0 129.6 117.2 101.5 109.6 Private creditors .. 60.7 303.4 76.5 47.5 39.7 35.0 34.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 13.0 34.7 27.1 28.2 23.5 22.5 Private nonguaranteed .. 0.0 5.5 72.3 28.5 2.0 1.5 2.7 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments .. 22.1 101.9 39.1 33.2 29.8 26.7 18.2 Public and publicly guaranteed .. 22.1 101.2 37.3 32.3 29.6 26.6 17.1 Official creditors .. 11.7 27.8 23.9 23.7 19.8 20.1 14.3 Multilateral .. 1.9 2.5 1.9 2.4 1.7 1.1 0.7 of which: IBRD .. 0.1 1.3 1.0 1.5 1.1 0.6 0.3 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. 9.8 25.3 22.0 21.3 18.1 18.9 13.6 Private creditors .. 10.3 73.4 13.4 8.6 9.7 6.6 2.8 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 8.5 5.9 5.1 6.9 4.9 2.3 Private nonguaranteed .. 0.0 0.7 1.8 0.9 0.3 0.1 1.1 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 -464.3 -172.0 -142.6 -105.2 -62.5 Net flows on external debt .. -39.2 -1.6 -280.4 -200.9 -185.4 -154.9 -89.7 9. Debt restructurings Total amount rescheduled .. 0.0 48.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 95.2 89.9 38.1 35.9 36.2 36.2 15.5 13.1 Interest 9.7 8.3 6.5 5.7 5.1 4.3 3.5 3.1 Private creditors Principal 34.6 30.0 10.7 10.7 5.4 0.0 0.0 0.0 Interest 3.0 1.6 0.9 0.4 0.1 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt and private nonguaranteed debt for 2009 are World Bank staff estimates. 291 UGANDA 1. Summary external debt data External debt stocks 2,606 3,609 3,497 4,419 1,257 1,607 2,246 2,490 Long-term external debt 2,177 3,089 3,051 4,209 1,099 1,571 1,778 2,245 Public and publicly guaranteed 2,177 3,089 3,051 4,209 1,099 1,571 1,778 2,245 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 282 417 316 131 9 9 9 9 Short-term external debt 146 103 129 79 148 26 458 235 interest arrears on long-term 89 69 58 29 27 26 26 26 Memorandum items 225 226 124 75 64 53 51 51 2,157 3,066 3,047 4,209 1,099 1,570 1,777 2,241 20 23 5 0 0 1 1 5 440 95 145 382 166 686 621 783 External debt flows Disbursements 372 290 230 233 250 473 275 493 Long-term external debt 293 234 219 228 247 473 275 493 IMF purchases 79 56 12 6 3 0 0 0 Principal repayments 109 97 48 135 70 50 52 49 Long-term external debt 65 69 26 99 70 50 52 49 IMF repurchases 43 28 21 36 0 0 0 0 Net flows 269 189 177 89 251 303 655 221 Long-term external debt 227 165 192 129 177 424 223 444 Short-term external debt 6 -4 -6 -10 71 -121 432 -223 Interest payments 36 38 26 35 28 16 22 22 Long-term external debt 18 34 21 33 24 12 15 18 IMF charges 13 2 2 0 0 0 0 0 Short-term external debt 5 2 4 3 4 3 6 4 2. Other non-debt resource inflows Foreign direct investment -6 121 161 380 644 792 729 604 Portfolio equity 0 0 0 0 19 -23 13 122 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.8 13.9 10.2 7.4 5.1 Japanese yen 0.3 1.2 1.8 0.0 0.0 0.0 0.3 0.5 Pound sterling 6.7 2.1 0.6 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 53.0 66.2 62.5 68.0 56.1 48.9 47.2 48.2 4. Average terms of new commitments Official creditors Interest (%) 1.1 0.9 0.8 0.8 0.8 0.8 0.7 0.9 Maturity (years) 36.5 39.2 40.0 45.7 39.3 41.1 40.7 41.8 Grace period (years) 9.9 10.0 7.9 10.2 9.8 9.9 9.9 9.0 Private creditors Interest (%) 0.5 0.0 7.5 0.0 0.0 0.0 0.0 0.0 Maturity (years) 1.3 0.0 8.2 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.7 0.0 2.8 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 4,227 5,698 6,086 8,771 9,679 11,674 14,161 15,404 Exports of goods, services & income 178 682 716 1,567 1,743 2,635 3,566 3,645 Worker remit. & comp. of employees .. .. 238 322 411 452 724 694 Imports of goods, services & income 734 1,603 1,574 2,653 3,297 4,275 5,724 5,614 Profit remittances on FDI 0 60 19 202 249 262 234 202 Current account balance -263 -281 -359 -49 -438 -532 -917 -875 International reserves 44 459 808 1,344 1,811 2,560 2,301 2,994 6. Ratios External debt stocks to exports (%) 1,465.6 529.2 488.2 281.9 72.1 61.0 63.0 68.3 External debt stocks to GNI (%) 61.6 63.3 57.5 50.4 13.0 13.8 15.9 16.2 Debt service to exports (%) 81.4 19.8 10.3 10.9 5.6 2.5 2.1 2.0 Short-term to external debt stocks (%) 5.6 2.8 3.7 1.8 11.8 1.6 20.4 9.4 Multilateral to external debt stocks (%) 49.4 61.8 75.3 89.0 67.6 83.1 69.5 81.0 Reserves to external debt stocks (%) 1.7 12.7 23.1 30.4 144.1 159.3 102.4 120.3 Reserves to imports (months) 0.7 3.4 6.2 6.1 6.6 7.2 4.8 6.4 292 UGANDA 7. Long-term external debt Debt outstanding and disbursed 2,177 3,089 3,051 4,209 1,099 1,571 1,778 2,245 Public and publicly guaranteed 2,177 3,089 3,051 4,209 1,099 1,571 1,778 2,245 Official creditors 1,843 3,002 3,027 4,182 1,073 1,545 1,753 2,220 Multilateral 1,287 2,232 2,634 3,932 850 1,335 1,560 2,017 of which: IBRD 34 0 0 0 0 0 0 0 IDA 935 1,792 2,115 3,141 436 840 1,004 1,379 Bilateral 556 770 393 250 223 210 193 203 Private creditors 335 87 24 27 26 26 25 25 of which: Bonds 4 4 4 0 0 0 0 0 Commercial banks 89 21 9 2 2 1 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 293 234 219 228 247 473 275 493 Public and publicly guaranteed 293 234 219 228 247 473 275 493 Official creditors 254 234 219 224 247 473 275 493 Multilateral 219 213 218 224 247 449 265 463 of which: IBRD 0 0 0 0 0 0 0 0 IDA 199 159 190 133 156 374 172 365 Bilateral 36 21 0 0 0 24 11 30 Private creditors 38 0 0 4 0 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 99 70 50 52 49 Public and publicly guaranteed 65 69 26 99 70 50 52 49 Official creditors 44 60 25 98 69 49 52 49 Multilateral 19 49 9 34 37 24 25 29 of which: IBRD 4 12 0 0 0 0 0 0 IDA 2 8 3 21 10 0 0 1 Bilateral 25 11 16 64 33 24 27 20 Private creditors 22 9 1 1 1 1 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 14 7 1 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 Interest payments 18 34 21 33 24 12 15 18 Public and publicly guaranteed 18 34 21 33 24 12 15 18 Official creditors 17 32 20 32 24 12 15 18 Multilateral 13 22 10 31 23 11 13 16 of which: IBRD 2 1 0 0 0 0 0 0 IDA 5 13 6 24 14 5 7 9 Bilateral 4 10 11 2 1 1 2 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 -325 -3,163 350 639 244 Net flows on external debt 269 189 177 89 251 303 655 221 9. Debt restructurings Total amount rescheduled 16 172 35 154 10 0 0 0 Total amount forgiven 51 41 217 53 3,554 20 7 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 48 48 52 57 58 58 59 75 Interest 23 25 26 26 26 26 26 25 Private creditors Principal 0 0 0 0 1 2 2 2 Interest 0 0 0 0 0 0 0 0 Notes: Uganda was granted debt relief effective in 2006 under MDRI. 293 UKRAINE 1. Summary external debt data External debt stocks .. 8,429 12,190 32,590 50,104 73,879 93,114 93,153 Long-term external debt .. 6,664 9,670 19,339 33,913 50,534 67,769 62,306 Public and publicly guaranteed .. 6,581 8,142 9,751 9,755 10,847 11,122 10,449 Private nonguaranteed .. 84 1,528 9,588 24,158 39,687 56,648 51,857 Use of IMF credit .. 1,542 2,073 1,188 830 431 4,709 10,974 Short-term external debt .. 223 447 12,063 15,361 22,914 20,636 19,873 interest arrears on long-term .. 35 183 110 150 199 335 650 Memorandum items .. 88 567 240 286 322 653 2,651 .. 6,581 8,117 9,734 9,746 10,847 11,122 10,449 .. 84 1,553 9,605 24,166 39,687 56,648 51,857 .. 673 157 1,876 1,219 1,925 990 1,496 External debt flows Disbursements .. 1,997 1,638 7,969 16,690 26,127 36,389 21,477 Long-term external debt .. 801 1,387 7,969 16,690 26,127 31,647 15,307 IMF purchases .. 1,196 251 0 0 0 4,742 6,170 Principal repayments .. 636 2,952 4,411 7,135 8,836 14,248 17,367 Long-term external debt .. 636 2,103 4,111 6,724 8,409 13,907 17,279 IMF repurchases .. 0 849 300 410 427 341 88 Net flows .. 1,337 -1,287 5,257 12,813 24,795 19,727 3,031 Long-term external debt .. 165 -716 3,858 9,966 17,718 17,739 -1,972 Short-term external debt .. -24 26 1,698 3,258 7,504 -2,414 -1,078 Interest payments .. 501 709 1,430 2,204 2,983 3,674 3,921 Long-term external debt .. 447 573 986 1,676 2,285 3,227 3,530 IMF charges .. 42 122 50 53 39 14 135 Short-term external debt .. 12 14 393 475 659 433 256 2. Other non-debt resource inflows Foreign direct investment .. 267 595 7,808 5,604 9,891 10,913 4,816 Portfolio equity .. .. 146 82 322 715 388 105 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 18.5 16.5 14.5 12.5 19.4 Japanese yen .. 0.0 2.0 1.2 4.0 3.6 4.1 4.7 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 6.5 6.3 6.5 0.0 U.S.dollars .. 63.3 53.2 70.2 64.1 68.6 70.9 71.0 4. Average terms of new commitments Official creditors Interest (%) .. 4.7 7.3 3.7 6.2 4.7 3.3 2.0 Maturity (years) .. 13.4 15.2 20.3 20.0 19.8 23.7 24.6 Grace period (years) .. 4.8 4.5 6.1 5.5 5.3 5.2 5.2 Private creditors Interest (%) .. 6.5 0.0 5.2 3.4 6.9 0.0 0.0 Maturity (years) .. 8.0 0.0 10.7 9.2 6.7 0.0 0.0 Grace period (years) .. 2.5 0.0 9.9 9.2 6.7 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 47,438 30,320 85,157 106,031 140,602 178,452 111,105 Exports of goods, services & income .. 17,337 19,665 45,136 51,571 67,657 91,031 58,877 Worker remit. & comp. of employees .. .. 33 595 829 4,503 5,769 5,073 Imports of goods, services & income .. 18,961 19,032 45,450 56,361 76,468 106,921 63,339 Profit remittances on FDI .. .. 43 268 996 1,178 2,506 2,542 Current account balance .. -1,152 1,481 2,531 -1,617 -5,272 -12,763 -1,801 International reserves .. 1,069 1,477 19,388 22,360 32,484 31,543 26,501 6. Ratios External debt stocks to exports (%) .. 48.6 62.0 72.2 97.2 109.2 102.3 158.2 External debt stocks to GNI (%) .. 17.8 40.2 38.3 47.3 52.5 52.2 83.8 Debt service to exports (%) .. 6.6 18.6 12.9 18.1 17.5 19.7 36.2 Short-term to external debt stocks (%) .. 2.6 3.7 37.0 30.7 31.0 22.2 21.3 Multilateral to external debt stocks (%) .. 7.8 19.5 8.5 5.3 3.6 3.6 4.5 Reserves to external debt stocks (%) .. 12.7 12.1 59.5 44.6 44.0 33.9 28.4 Reserves to imports (months) .. 0.7 0.9 5.1 4.8 5.1 3.5 5.0 294 UKRAINE 7. Long-term external debt Debt outstanding and disbursed .. 6,664 9,670 19,339 33,913 50,534 67,769 62,306 Public and publicly guaranteed .. 6,581 8,142 9,751 9,755 10,847 11,122 10,449 Official creditors .. 4,346 5,005 5,123 4,782 4,549 5,002 5,784 Multilateral .. 659 2,377 2,768 2,662 2,633 3,307 4,237 of which: IBRD .. 491 1,991 2,429 2,362 2,309 3,022 3,294 IDA .. 0 0 0 0 0 0 0 Bilateral .. 3,687 2,628 2,355 2,119 1,916 1,694 1,547 Private creditors .. 2,235 3,136 4,628 4,973 6,298 6,120 4,665 of which: Bonds .. 1,200 2,379 2,250 2,686 4,249 4,319 3,121 Commercial banks .. 130 134 1,349 1,260 1,025 782 527 Private nonguaranteed .. 84 1,528 9,588 24,158 39,687 56,648 51,857 of which: Bonds .. 0 0 550 1,513 4,185 4,965 5,059 Disbursements .. 801 1,387 7,969 16,690 26,127 31,647 15,307 Public and publicly guaranteed .. 732 183 1,415 1,045 1,927 923 1,294 Official creditors .. 550 151 567 131 202 923 1,294 Multilateral .. 525 129 560 131 199 922 1,237 of which: IBRD .. 401 113 484 85 115 889 509 IDA .. 0 0 0 0 0 0 0 Bilateral .. 25 22 7 0 3 2 57 Private creditors .. 182 32 847 915 1,725 0 0 of which: Bonds .. 0 0 747 915 1,725 0 0 Commercial banks .. 0 14 100 0 0 0 0 Private nonguaranteed .. 69 1,204 6,554 15,645 24,200 30,723 14,013 of which: Bonds .. 0 0 450 962 2,800 1,230 789 Principal repayments .. 636 2,103 4,111 6,724 8,409 13,907 17,279 Public and publicly guaranteed .. 595 1,257 1,216 1,261 1,098 731 2,013 Official creditors .. 165 1,215 569 557 526 485 546 Multilateral .. 127 70 288 277 275 261 335 of which: IBRD .. 0 24 168 171 189 203 235 IDA .. 0 0 0 0 0 0 0 Bilateral .. 38 1,145 281 280 252 224 212 Private creditors .. 430 42 647 704 572 246 1,467 of which: Bonds .. 200 33 622 602 328 0 1,209 Commercial banks .. 2 2 0 95 241 242 255 Private nonguaranteed .. 40 845 2,895 5,463 7,310 13,176 15,266 of which: Bonds .. 0 0 0 0 129 450 695 Interest payments .. 447 573 986 1,676 2,285 3,227 3,530 Public and publicly guaranteed .. 440 502 513 569 575 597 501 Official creditors .. 306 149 134 181 190 166 111 Multilateral .. 13 141 91 140 154 138 91 of which: IBRD .. 8 118 76 121 134 118 78 IDA .. 0 0 0 0 0 0 0 Bilateral .. 293 8 43 41 36 28 20 Private creditors .. 134 352 379 388 385 431 390 of which: Bonds .. 87 344 172 158 174 253 238 Commercial banks .. 3 8 128 152 134 100 75 Private nonguaranteed .. 7 71 473 1,107 1,710 2,630 3,029 of which: Bonds .. 0 0 41 89 247 336 423 8. Debt stock-flow reconciliation Total change in external debt stocks .. 2,793 -1,760 3,112 17,514 23,775 19,235 39 Net flows on external debt .. 1,337 -1,287 5,257 12,813 24,795 19,727 3,031 9. Debt restructurings Total amount rescheduled .. 2,535 2,185 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 517 559 554 563 439 463 449 449 Interest 99 86 72 61 52 48 43 39 Private creditors Principal 14,431 11,759 8,215 4,909 3,013 2,715 1,575 1,813 Interest 3,590 2,488 1,878 1,300 987 760 712 814 Notes: Short-term debt is based on reports provided by the National Bank of Ukraine. 295 URUGUAY 1. Summary external debt data External debt stocks 4,415 5,318 8,408 11,099 10,141 11,523 10,985 12,159 Long-term external debt 3,114 3,960 5,873 8,059 9,402 10,615 10,168 11,035 Public and publicly guaranteed 3,045 3,833 5,551 7,734 9,083 10,328 9,980 10,955 Private nonguaranteed 69 127 322 325 319 287 187 80 Use of IMF credit 101 21 149 2,304 0 0 0 0 Short-term external debt 1,201 1,336 2,387 736 739 908 817 1,124 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 3,042 3,831 5,550 7,734 9,083 10,328 9,980 10,955 72 130 322 325 319 287 187 80 339 452 759 2,855 2,059 1,526 887 1,623 External debt flows Disbursements 358 661 928 1,626 2,330 1,476 674 1,564 Long-term external debt 346 661 928 1,329 2,033 1,476 674 1,564 IMF purchases 12 0 0 297 298 0 0 0 Principal repayments 559 484 666 1,308 4,939 540 913 1,326 Long-term external debt 434 474 666 839 2,269 540 913 1,326 IMF repurchases 124 10 0 469 2,670 0 0 0 Net flows -134 281 382 171 -2,605 1,104 -330 545 Long-term external debt -88 187 262 490 -236 935 -239 238 Short-term external debt 66 104 120 -147 3 169 -91 307 Interest payments 428 379 544 629 723 688 572 580 Long-term external debt 318 298 413 434 580 638 535 529 IMF charges 16 2 8 115 106 5 0 0 Short-term external debt 93 80 123 80 37 45 37 51 2. Other non-debt resource inflows Foreign direct investment 42 157 269 847 1,493 1,321 2,205 1,139 Portfolio equity 0 0 5 -2 -27 2 2 2 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.5 6.8 6.1 4.7 4.4 Japanese yen 5.1 6.4 3.4 2.9 2.4 4.5 5.5 4.7 Pound sterling 3.6 1.9 1.0 0.1 0.0 0.0 0.0 0.0 Swiss franc 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 64.9 53.8 80.8 83.9 87.3 86.7 87.2 89.0 4. Average terms of new commitments Official creditors Interest (%) 7.8 3.9 7.2 4.6 5.4 5.6 3.7 2.3 Maturity (years) 20.1 14.9 14.8 17.7 21.2 16.3 11.7 17.0 Grace period (years) 5.0 5.5 5.2 5.3 4.9 6.4 3.1 7.2 Private creditors Interest (%) 9.8 7.0 7.8 8.0 6.8 3.6 8.1 8.6 Maturity (years) 8.7 7.2 7.7 15.3 24.7 21.5 8.6 15.0 Grace period (years) 1.0 3.3 7.2 15.0 24.7 19.9 7.2 13.0 5. Major economic aggregates Gross national income (GNI) 8,961 18,994 22,757 16,863 19,366 23,406 30,436 35,292 Exports of goods, services & income 2,417 3,911 4,441 5,648 6,529 7,822 10,088 9,070 Worker remit. & comp. of employees .. .. .. 77 89 96 108 101 Imports of goods, services & income 2,239 4,200 5,035 5,750 7,047 8,171 11,463 8,953 Profit remittances on FDI 0 54 99 228 261 531 663 406 Current account balance 186 -213 -566 42 -392 -212 -1,225 259 International reserves 1,446 1,813 2,776 3,078 3,091 4,121 6,360 8,038 6. Ratios External debt stocks to exports (%) 182.7 136.0 189.3 196.5 155.3 147.3 108.9 134.0 External debt stocks to GNI (%) 49.3 28.0 36.9 65.8 52.4 49.2 36.1 34.5 Debt service to exports (%) 40.8 22.1 27.2 34.3 86.7 15.7 14.7 21.0 Short-term to external debt stocks (%) 27.2 25.1 28.4 6.6 7.3 7.9 7.4 9.2 Multilateral to external debt stocks (%) 15.8 23.7 22.9 27.9 25.0 21.9 26.7 30.0 Reserves to external debt stocks (%) 32.7 34.1 33.0 27.7 30.5 35.8 57.9 66.1 Reserves to imports (months) 7.7 5.2 6.6 6.4 5.3 6.1 6.7 10.8 296 URUGUAY 7. Long-term external debt Debt outstanding and disbursed 3,114 3,960 5,873 8,059 9,402 10,615 10,168 11,035 Public and publicly guaranteed 3,045 3,833 5,551 7,734 9,083 10,328 9,980 10,955 Official creditors 895 1,588 2,228 3,242 2,713 2,701 3,091 3,788 Multilateral 699 1,259 1,926 3,097 2,533 2,529 2,936 3,653 of which: IBRD 359 513 552 816 653 666 713 1,099 IDA 0 0 0 0 0 0 0 0 Bilateral 196 329 302 145 180 172 155 135 Private creditors 2,150 2,245 3,323 4,492 6,370 7,627 6,890 7,166 of which: Bonds 567 1,963 2,774 4,200 6,324 7,590 6,821 7,094 Commercial banks 1,576 252 530 279 35 28 62 69 Private nonguaranteed 69 127 322 325 319 287 187 80 of which: Bonds 0 110 300 300 300 287 187 80 Disbursements 346 661 928 1,329 2,033 1,476 674 1,564 Public and publicly guaranteed 346 591 928 1,329 2,033 1,389 674 1,564 Official creditors 174 128 300 389 205 199 632 966 Multilateral 90 103 299 384 159 189 632 966 of which: IBRD 51 32 134 134 42 74 147 450 IDA 0 0 0 0 0 0 0 0 Bilateral 85 25 1 5 46 10 0 0 Private creditors 171 463 629 940 1,828 1,190 42 599 of which: Bonds 164 348 615 919 1,828 1,189 2 599 Commercial banks 4 111 1 21 0 0 40 0 Private nonguaranteed 0 70 0 0 0 87 0 0 of which: Bonds 0 70 0 0 0 87 0 0 Principal repayments 434 474 666 839 2,269 540 913 1,326 Public and publicly guaranteed 398 469 606 831 2,263 421 813 1,226 Official creditors 71 124 162 341 746 230 253 288 Multilateral 61 117 121 328 732 208 231 267 of which: IBRD 43 78 58 104 205 61 85 85 IDA 0 0 0 0 0 0 0 0 Bilateral 10 7 42 13 14 21 22 21 Private creditors 327 345 443 490 1,517 191 560 938 of which: Bonds 180 273 285 292 1,270 181 552 918 Commercial banks 143 66 154 196 245 9 5 17 Private nonguaranteed 36 5 60 8 5 119 100 100 of which: Bonds 0 0 47 0 0 100 100 100 Interest payments 318 298 413 434 580 638 535 529 Public and publicly guaranteed 312 293 381 406 553 613 522 518 Official creditors 61 124 147 152 152 145 129 126 Multilateral 54 91 134 149 149 140 124 122 of which: IBRD 27 40 42 34 41 38 31 28 IDA 0 0 0 0 0 0 0 0 Bilateral 7 33 13 3 3 5 5 4 Private creditors 252 169 233 255 401 467 393 392 of which: Bonds 61 151 182 242 392 465 391 388 Commercial banks 190 15 51 12 9 2 1 4 Private nonguaranteed 6 4 33 27 27 26 13 11 of which: Bonds 0 3 29 26 26 25 13 11 8. Debt stock-flow reconciliation Total change in external debt stocks -33 243 518 -629 -958 1,382 -538 1,174 Net flows on external debt -134 281 382 171 -2,605 1,104 -330 545 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 955 178 542 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 361 342 330 334 343 336 316 407 Interest 103 95 87 77 68 59 50 41 Private creditors Principal 154 329 56 30 27 216 274 343 Interest 496 486 475 473 472 463 436 432 Notes: Long-term private nonguaranteed debt data only cover Inter-American Development Bank and Bonds. Short-term debt data are based on reports provided by Central Bank from 1999. 297 UZBEKISTAN 1. Summary external debt data External debt stocks .. 1,799 4,633 4,282 4,031 3,923 3,983 4,109 Long-term external debt .. 1,430 4,224 4,170 3,873 3,727 3,772 3,965 Public and publicly guaranteed .. 1,415 3,762 3,619 3,289 3,133 3,144 3,238 Private nonguaranteed .. 15 462 551 584 594 629 727 Use of IMF credit .. 157 127 0 0 0 0 0 Short-term external debt .. 212 282 112 158 196 211 144 interest arrears on long-term .. 0 3 8 0 0 0 0 Memorandum items .. 0 17 35 0 0 0 0 .. 1,288 3,605 3,577 3,276 3,114 3,138 3,233 .. 142 618 592 597 612 635 732 .. 980 310 212 107 405 292 376 External debt flows Disbursements .. 791 769 400 306 373 455 651 Long-term external debt .. 630 769 400 306 373 455 651 IMF purchases .. 161 0 0 0 0 0 0 Principal repayments .. 149 648 642 677 580 562 523 Long-term external debt .. 149 583 623 677 580 562 523 IMF repurchases .. 0 65 18 0 0 0 0 Net flows .. 563 -223 -308 -317 -170 -93 61 Long-term external debt .. 481 186 -223 -371 -208 -108 128 Short-term external debt .. -79 -344 -66 54 38 15 -67 Interest payments .. 95 237 145 173 173 130 95 Long-term external debt .. 80 206 141 170 166 122 92 IMF charges .. 3 9 0 0 0 0 0 Short-term external debt .. 13 23 4 3 7 8 2 2. Other non-debt resource inflows Foreign direct investment .. -24 75 192 174 705 711 750 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 17.9 17.8 17.5 14.5 12.5 Japanese yen .. 3.1 21.2 21.4 21.3 22.6 26.9 23.9 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.1 0.0 0.5 0.4 0.4 0.3 0.2 U.S.dollars .. 66.5 56.7 52.9 51.9 49.7 48.4 53.2 4. Average terms of new commitments Official creditors Interest (%) .. 5.2 6.0 1.9 2.9 2.9 2.4 1.3 Maturity (years) .. 18.1 18.4 25.8 22.2 20.4 24.8 27.6 Grace period (years) .. 5.1 4.4 7.3 6.7 5.8 6.0 7.2 Private creditors Interest (%) .. 7.1 7.3 0.0 4.3 4.7 4.8 0.0 Maturity (years) .. 9.1 6.4 0.0 6.6 5.4 6.1 0.0 Grace period (years) .. 2.5 1.4 0.0 1.1 0.9 1.6 0.0 5. Major economic aggregates Gross national income (GNI) .. 13,324 13,541 14,283 17,072 22,373 27,953 32,909 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & income .. .. .. .. .. 6,736 8,812 .. Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) .. 13.5 34.2 30.0 23.6 17.5 14.2 12.5 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) .. 11.8 6.1 2.6 3.9 5.0 5.3 3.5 Multilateral to external debt stocks (%) .. 13.7 9.8 18.5 20.5 22.1 23.1 25.9 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 298 UZBEKISTAN 7. Long-term external debt Debt outstanding and disbursed .. 1,430 4,224 4,170 3,873 3,727 3,772 3,965 Public and publicly guaranteed .. 1,415 3,762 3,619 3,289 3,133 3,144 3,238 Official creditors .. 1,023 2,117 2,445 2,393 2,458 2,664 2,908 Multilateral .. 246 454 791 826 868 919 1,065 of which: IBRD .. 157 217 299 316 317 313 284 IDA .. 0 0 11 26 43 55 83 Bilateral .. 777 1,663 1,653 1,567 1,590 1,744 1,843 Private creditors .. 393 1,645 1,175 896 675 480 330 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 368 193 149 125 110 73 Private nonguaranteed .. 15 462 551 584 594 629 727 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 630 769 400 306 373 455 651 Public and publicly guaranteed .. 619 713 255 173 229 314 476 Official creditors .. 399 409 193 156 209 277 473 Multilateral .. 246 121 136 110 93 106 212 of which: IBRD .. 162 31 25 32 17 15 5 IDA .. 0 0 7 13 16 13 28 Bilateral .. 154 288 57 46 116 171 261 Private creditors .. 219 304 62 17 20 37 3 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 59 34 10 19 37 1 Private nonguaranteed .. 12 56 145 133 144 140 175 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 149 583 623 677 580 562 523 Public and publicly guaranteed .. 148 443 510 579 496 458 386 Official creditors .. 119 148 177 237 218 239 227 Multilateral .. 0 29 67 82 61 67 67 of which: IBRD .. 0 5 20 21 25 29 32 IDA .. 0 0 0 0 0 0 0 Bilateral .. 119 119 110 155 157 172 160 Private creditors .. 29 295 333 341 278 219 158 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 72 49 62 51 47 40 Private nonguaranteed .. 1 140 113 99 85 105 138 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 80 206 141 170 166 122 92 Public and publicly guaranteed .. 79 182 117 146 141 114 83 Official creditors .. 52 75 63 93 96 84 71 Multilateral .. 4 26 32 42 47 43 34 of which: IBRD .. 2 12 12 15 18 18 15 IDA .. 0 0 0 0 0 0 0 Bilateral .. 47 49 31 51 49 41 37 Private creditors .. 27 108 53 52 45 30 12 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 29 10 9 9 7 3 Private nonguaranteed .. 1 24 24 24 25 8 10 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 552 -307 -541 -251 -108 60 126 Net flows on external debt .. 563 -223 -308 -317 -170 -93 61 9. Debt restructurings Total amount rescheduled .. 0 0 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 305 250 248 242 257 231 189 175 Interest 69 65 61 56 51 45 41 38 Private creditors Principal 355 201 167 125 89 48 35 23 Interest 34 25 17 11 7 5 3 1 Notes: Data on long-term private nonguaranteed debt for 2009 are World Bank staff estimates. 299 VANUATU 1. Summary external debt data External debt stocks 38.2 48.9 74.5 82.1 83.1 98.2 125.8 129.8 Long-term external debt 28.6 43.9 73.1 71.9 72.0 78.1 89.7 98.8 Public and publicly guaranteed 28.6 43.9 73.1 71.9 72.0 78.1 89.7 98.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 9.6 5.0 1.4 10.2 11.1 20.1 36.1 31.0 interest arrears on long-term 0.0 0.0 0.0 0.2 0.1 0.1 0.1 0.0 Memorandum items 0.0 0.0 0.0 0.8 0.5 0.6 0.6 0.0 28.6 43.9 73.1 71.9 72.0 78.1 89.7 98.8 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 8.0 28.8 0.0 External debt flows Disbursements 6.5 3.2 14.2 0.0 0.0 3.9 10.1 11.7 Long-term external debt 6.5 3.2 14.2 0.0 0.0 3.9 10.1 11.7 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.0 0.8 0.9 1.1 2.2 2.1 2.5 3.5 Long-term external debt 1.0 0.8 0.9 1.1 2.2 2.1 2.5 3.5 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 5.7 2.4 13.6 -28.1 -1.2 10.8 23.6 3.1 Long-term external debt 5.6 2.4 13.4 -1.1 -2.2 1.8 7.6 8.1 Short-term external debt 0.1 0.0 0.3 -27.0 1.0 9.0 16.0 -5.0 Interest payments 1.5 0.8 1.0 1.5 1.4 1.7 2.0 2.1 Long-term external debt 0.7 0.5 0.6 0.7 1.0 0.9 1.1 1.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.7 0.3 0.3 0.8 0.5 0.8 0.8 0.7 2. Other non-debt resource inflows Foreign direct investment 13.1 31.0 20.3 13.3 43.4 34.2 31.5 27.4 Portfolio equity 0.0 0.0 .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.6 13.4 12.5 9.2 7.1 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 22.4 43.3 56.8 54.0 54.1 51.3 47.1 41.6 4. Average terms of new commitments Official creditors Interest (%) 0.0 0.0 2.0 0.0 0.0 0.0 2.0 0.0 Maturity (years) 0.0 23.0 14.5 0.0 0.0 20.0 20.0 0.0 Grace period (years) 0.0 16.1 3.5 0.0 0.0 5.0 5.3 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 162.6 216.8 267.8 380.4 428.3 516.9 613.2 628.2 Exports of goods, services & income 105.8 123.0 175.7 204.6 215.3 255.7 .. .. Worker remit. & comp. of employees 8.2 13.5 34.7 5.1 5.0 5.5 7.0 6.9 Imports of goods, services & income 136.5 164.5 178.8 258.6 270.7 313.2 343.1 311.4 Profit remittances on FDI 15.2 35.6 21.9 35.3 34.2 45.6 .. .. Current account balance -6.2 -18.2 5.0 -34.0 -30.1 -34.4 .. .. International reserves 37.7 48.3 38.9 67.2 104.7 119.6 115.2 148.6 6. Ratios External debt stocks to exports (%) 36.1 39.8 42.4 40.1 38.6 38.4 .. .. External debt stocks to GNI (%) 23.5 22.6 27.8 21.6 19.4 19.0 20.5 20.7 Debt service to exports (%) 2.3 1.3 1.1 1.3 1.7 1.5 .. .. Short-term to external debt stocks (%) 25.1 10.2 1.9 12.4 13.4 20.5 28.7 23.9 Multilateral to external debt stocks (%) 41.6 63.7 86.1 82.1 81.1 70.5 56.4 52.8 Reserves to external debt stocks (%) 98.6 98.7 52.3 81.9 125.9 121.8 91.6 114.5 Reserves to imports (months) 3.3 3.5 2.6 3.1 4.6 4.6 4.0 5.7 300 VANUATU 7. Long-term external debt Debt outstanding and disbursed 28.6 43.9 73.1 71.9 72.0 78.1 89.7 98.8 Public and publicly guaranteed 28.6 43.9 73.1 71.9 72.0 78.1 89.7 98.8 Official creditors 27.1 43.5 73.1 71.9 72.0 78.1 89.7 98.8 Multilateral 15.9 31.2 64.1 67.4 67.4 69.3 71.0 68.6 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 12.9 13.2 13.4 12.9 12.4 Bilateral 11.3 12.3 8.9 4.5 4.6 8.8 18.7 30.2 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 3.9 10.1 11.7 Public and publicly guaranteed 6.5 3.2 14.2 0.0 0.0 3.9 10.1 11.7 Official creditors 6.5 3.2 14.2 0.0 0.0 3.9 10.1 11.7 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 3.9 10.1 11.7 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 1.0 0.8 0.9 1.1 2.2 2.1 2.5 3.5 Public and publicly guaranteed 1.0 0.8 0.9 1.1 2.2 2.1 2.5 3.5 Official creditors 0.8 0.6 0.9 1.1 2.2 2.1 2.5 3.5 Multilateral 0.5 0.4 0.5 0.7 1.8 1.7 2.1 3.2 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 0.4 0.4 0.6 Bilateral 0.3 0.2 0.4 0.4 0.4 0.4 0.5 0.3 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 0.7 1.0 0.9 1.1 1.4 Public and publicly guaranteed 0.7 0.5 0.6 0.7 1.0 0.9 1.1 1.4 Official creditors 0.6 0.5 0.6 0.7 1.0 0.9 1.1 1.4 Multilateral 0.2 0.3 0.5 0.6 0.9 0.7 0.8 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 0.2 0.4 0.6 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 -38.6 1.0 15.1 27.6 4.0 Net flows on external debt 5.7 2.4 13.6 -28.1 -1.2 10.8 23.6 3.1 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 3.6 3.6 4.3 5.3 6.2 5.6 5.6 5.6 Interest 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 301 VENEZUELA, REPUBLICA BOLIVARIANA de 1. Summary external debt data External debt stocks 33,171 35,744 42,338 44,888 43,747 45,850 50,179 54,503 Long-term external debt 28,159 30,442 33,950 34,780 31,899 30,497 33,185 38,494 Public and publicly guaranteed 24,509 28,428 27,817 31,078 27,165 27,537 29,875 35,184 Private nonguaranteed 3,650 2,013 6,132 3,702 4,734 2,960 3,310 3,310 Use of IMF credit 3,012 2,239 203 0 0 0 0 0 Short-term external debt 2,000 3,063 8,186 10,108 11,848 15,353 16,994 16,009 interest arrears on long-term 0 273 59 5 2 0 0 9 Memorandum items 0 1,022 79 8 0 0 0 0 24,509 27,854 27,368 31,026 27,121 27,520 29,865 35,178 3,650 2,588 6,581 3,754 4,778 2,977 3,320 3,316 3,209 1,033 1,683 6,717 1,220 1,854 4,354 7,692 External debt flows Disbursements 4,069 1,829 2,342 7,246 1,751 2,053 5,490 6,068 Long-term external debt 2,226 1,829 2,342 7,246 1,751 2,053 5,490 6,068 IMF purchases 1,843 0 0 0 0 0 0 0 Principal repayments 1,749 2,739 3,428 2,804 6,513 2,285 2,748 811 Long-term external debt 1,749 2,278 2,921 2,804 6,513 2,285 2,748 811 IMF repurchases 0 462 507 0 0 0 0 0 Net flows 2,036 -1,558 1,614 6,714 -3,019 3,275 4,384 4,262 Long-term external debt 477 -448 -579 4,443 -4,762 -232 2,743 5,256 Short-term external debt -284 -648 2,700 2,271 1,743 3,507 1,641 -994 Interest payments 3,242 2,433 2,931 2,931 3,336 3,460 3,270 3,153 Long-term external debt 2,993 2,097 2,435 2,656 2,850 2,584 2,858 2,765 IMF charges 37 142 28 0 0 0 0 0 Short-term external debt 212 193 467 275 486 876 412 388 2. Other non-debt resource inflows Foreign direct investment 451 985 4,701 2,602 -508 1,008 350 -3,105 Portfolio equity 0 270 -574 28 41 66 3 121 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.5 14.1 14.8 8.2 6.7 Japanese yen 0.6 4.2 1.9 0.5 0.7 1.0 1.0 0.8 Pound sterling 1.5 1.2 0.8 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.9 0.7 0.4 0.0 0.1 0.1 0.1 0.0 U.S.dollars 78.2 68.9 83.3 83.6 80.8 81.5 88.7 91.0 4. Average terms of new commitments Official creditors Interest (%) 7.8 6.8 8.0 6.2 5.6 5.7 3.2 2.9 Maturity (years) 15.6 17.2 12.7 10.4 18.0 20.0 18.0 16.6 Grace period (years) 4.9 5.2 2.6 2.7 7.8 10.5 5.5 5.3 Private creditors Interest (%) 8.5 7.7 8.2 6.6 5.7 7.0 9.2 8.1 Maturity (years) 13.6 3.3 6.9 13.8 11.7 30.2 17.5 12.5 Grace period (years) 6.1 3.0 2.5 13.7 5.2 30.2 17.5 12.5 5. Major economic aggregates Gross national income (GNI) 46,254 72,946 115,760 143,475 182,638 229,258 312,177 327,229 Exports of goods, services & income 21,464 22,620 37,760 61,134 75,348 80,971 105,363 61,913 Worker remit. & comp. of employees 1 2 17 148 165 151 137 131 Imports of goods, services & income 12,883 20,715 25,737 35,955 48,808 62,477 67,363 53,029 Profit remittances on FDI 224 431 1,424 3,953 6,540 4,785 4,152 1,903 Current account balance 8,279 2,014 11,853 25,110 26,462 18,063 37,392 8,561 International reserves 12,733 10,715 15,899 29,803 36,715 33,759 43,065 34,318 6. Ratios External debt stocks to exports (%) 154.5 158.0 112.1 73.4 58.1 56.6 47.6 88.0 External debt stocks to GNI (%) 71.7 49.0 36.6 31.3 24.0 20.0 16.1 16.7 Debt service to exports (%) 23.3 22.9 16.8 9.4 13.1 7.1 5.7 6.4 Short-term to external debt stocks (%) 6.0 8.6 19.3 22.5 27.1 33.5 33.9 29.4 Multilateral to external debt stocks (%) 4.9 9.3 7.6 6.2 6.9 5.4 5.4 5.7 Reserves to external debt stocks (%) 38.4 30.0 37.6 66.4 83.9 73.6 85.8 63.0 Reserves to imports (months) 11.9 6.2 7.4 9.9 9.0 6.5 7.7 7.8 302 VENEZUELA, REPUBLICA BOLIVARIANA de 7. Long-term external debt Debt outstanding and disbursed 28,159 30,442 33,950 34,780 31,899 30,497 33,185 38,494 Public and publicly guaranteed 24,509 28,428 27,817 31,078 27,165 27,537 29,875 35,184 Official creditors 1,933 4,833 6,177 3,395 3,790 3,392 3,534 4,130 Multilateral 1,640 3,323 3,216 2,786 3,026 2,488 2,687 3,120 of which: IBRD 974 1,639 972 200 51 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 293 1,510 2,961 609 764 904 847 1,010 Private creditors 22,577 23,595 21,640 27,683 23,375 24,145 26,341 31,054 of which: Bonds 19,644 20,745 16,217 23,546 19,478 20,675 23,353 28,360 Commercial banks 363 1,233 3,490 3,194 2,876 2,587 2,347 2,206 Private nonguaranteed 3,650 2,013 6,132 3,702 4,734 2,960 3,310 3,310 of which: Bonds 0 114 3,880 3,670 4,734 2,960 3,310 3,310 Disbursements 2,226 1,829 2,342 7,246 1,751 2,053 5,490 6,068 Public and publicly guaranteed 2,226 1,749 2,342 7,246 1,651 2,053 4,840 6,068 Official creditors 1,103 610 786 392 1,107 549 644 1,035 Multilateral 1,035 284 402 173 831 325 556 735 of which: IBRD 840 47 50 13 9 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 69 326 385 218 276 224 88 300 Private creditors 1,122 1,139 1,556 6,855 544 1,504 4,196 5,033 of which: Bonds 599 349 462 6,143 0 1,250 4,000 4,992 Commercial banks 26 616 667 367 154 121 145 30 Private nonguaranteed 0 80 0 0 100 0 650 0 of which: Bonds 0 0 0 0 100 0 650 0 Principal repayments 1,749 2,278 2,921 2,804 6,513 2,285 2,748 811 Public and publicly guaranteed 1,576 1,775 2,265 2,117 5,935 2,011 2,448 811 Official creditors 50 375 613 735 733 988 524 448 Multilateral 9 202 356 530 608 873 376 299 of which: IBRD 0 116 208 106 159 50 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 41 173 257 205 125 115 148 149 Private creditors 1,526 1,400 1,652 1,382 5,202 1,023 1,923 363 of which: Bonds 254 817 1,119 646 4,292 209 1,299 0 Commercial banks 706 45 372 444 562 495 349 192 Private nonguaranteed 173 503 655 687 578 274 300 0 of which: Bonds 0 0 0 0 546 274 300 0 Interest payments 2,993 2,097 2,435 2,656 2,850 2,584 2,858 2,765 Public and publicly guaranteed 2,593 1,986 1,867 2,307 2,412 2,313 2,524 2,440 Official creditors 71 298 343 203 217 243 234 185 Multilateral 59 233 259 162 175 194 161 138 of which: IBRD 19 120 91 10 6 1 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 12 66 84 41 42 49 73 48 Private creditors 2,522 1,688 1,524 2,104 2,194 2,071 2,290 2,255 of which: Bonds 135 1,534 1,298 1,747 1,834 1,751 2,006 2,024 Commercial banks 2,198 65 176 298 289 264 241 210 Private nonguaranteed 400 111 568 349 439 271 334 324 of which: Bonds 0 10 304 296 392 271 274 281 8. Debt stock-flow reconciliation Total change in external debt stocks 792 -1,199 1,290 6,096 -1,140 2,103 4,329 4,324 Net flows on external debt 2,036 -1,558 1,614 6,714 -3,019 3,275 4,384 4,262 9. Debt restructurings Total amount rescheduled 17,659 0 0 0 0 0 0 0 Total amount forgiven 1,727 0 0 0 0 1 2 1 Debt buyback 634 0 0 419 4,292 175 4 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 509 518 605 590 501 386 476 424 Interest 131 134 129 120 110 102 95 84 Private creditors Principal 2,682 1,913 703 1,665 1,858 1,394 2,035 28 Interest 2,764 2,559 2,487 2,433 2,259 2,052 1,932 1,871 Notes: Long-term private nonguaranteed debt data only cover Bonds. Short-term debt is based on the Central Bank data from 1999 to 2008 and is World Bank staff estimates for 2009. 303 VIETNAM 1. Summary external debt data External debt stocks 23,270 25,428 12,823 19,035 18,610 22,737 24,964 28,674 Long-term external debt 21,378 21,778 11,584 16,257 16,003 17,943 20,564 23,403 Public and publicly guaranteed 21,378 21,778 11,584 16,257 16,003 17,943 20,564 23,403 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 112 377 316 203 181 164 121 84 Short-term external debt 1,780 3,272 923 2,574 2,427 4,630 4,279 5,186 interest arrears on long-term 1,530 2,501 78 74 0 0 1 0 Memorandum items 2,011 8,915 1,378 1,346 0 0 0 0 21,378 21,778 11,584 16,257 16,003 17,943 20,564 23,403 0 0 0 0 0 0 0 0 11 2,466 1,191 2,660 2,297 2,080 3,670 5,675 External debt flows Disbursements 13 730 1,272 2,047 1,228 1,945 1,880 3,791 Long-term external debt 13 639 1,272 2,047 1,228 1,945 1,880 3,791 IMF purchases 0 92 0 0 0 0 0 0 Principal repayments 104 225 958 543 519 646 771 704 Long-term external debt 99 225 937 489 486 621 732 666 IMF repurchases 5 0 21 54 33 25 39 38 Net flows -95 823 472 1,917 636 3,502 757 3,995 Long-term external debt -86 414 335 1,557 742 1,324 1,148 3,125 Short-term external debt -4 317 158 413 -73 2,203 -352 908 Interest payments 70 139 352 434 452 608 567 436 Long-term external debt 46 81 298 318 328 413 432 374 IMF charges 0 11 3 1 1 1 1 1 Short-term external debt 23 46 51 115 123 194 134 61 2. Other non-debt resource inflows Foreign direct investment 180 1,780 1,298 1,954 2,400 6,700 9,579 7,600 Portfolio equity .. .. .. 115 1,313 6,243 -578 128 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.7 6.7 7.0 5.9 5.5 Japanese yen 2.0 5.6 23.5 26.2 29.1 30.8 37.2 35.7 Pound sterling 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 5.5 8.4 43.3 44.9 42.5 40.8 37.0 38.9 4. Average terms of new commitments Official creditors Interest (%) 5.7 2.3 1.4 1.3 1.9 0.9 1.9 1.2 Maturity (years) 9.6 31.5 36.1 33.6 33.2 36.6 32.7 29.7 Grace period (years) 4.2 9.5 9.6 9.1 8.7 10.1 9.0 8.0 Private creditors Interest (%) 0.0 6.7 0.0 6.9 4.2 0.0 0.0 0.3 Maturity (years) 0.0 7.2 0.0 10.2 21.1 0.0 0.0 14.9 Grace period (years) 0.0 2.0 0.0 10.1 6.6 0.0 0.0 4.9 5. Major economic aggregates Gross national income (GNI) 6,060 20,510 30,726 51,859 59,598 68,885 87,654 88,640 Exports of goods, services & income .. .. 17,481 36,987 45,594 55,757 71,138 63,614 Worker remit. & comp. of employees .. .. .. 4,000 4,800 5,500 7,200 6,840 Imports of goods, services & income .. .. 18,107 40,927 49,807 69,140 89,155 77,581 Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance .. .. 1,106 -560 -164 -6,953 -10,706 .. International reserves .. 1,324 3,417 9,051 13,384 23,479 23,890 16,447 6. Ratios External debt stocks to exports (%) .. .. 73.4 51.5 40.8 40.8 35.1 45.1 External debt stocks to GNI (%) 384.0 124.0 41.7 36.7 31.2 33.0 28.5 32.3 Debt service to exports (%) .. .. 7.5 2.6 2.1 2.2 1.9 1.8 Short-term to external debt stocks (%) 7.7 12.9 7.2 13.5 13.0 20.4 17.1 18.1 Multilateral to external debt stocks (%) 0.6 1.3 14.8 27.0 31.5 31.3 32.0 36.0 Reserves to external debt stocks (%) .. 5.2 26.6 47.5 71.9 103.3 95.7 57.4 Reserves to imports (months) .. .. 2.3 2.7 3.2 4.1 3.2 2.5 304 VIETNAM 7. Long-term external debt Debt outstanding and disbursed 21,378 21,778 11,584 16,257 16,003 17,943 20,564 23,403 Public and publicly guaranteed 21,378 21,778 11,584 16,257 16,003 17,943 20,564 23,403 Official creditors 20,171 20,450 8,680 14,258 14,093 16,117 18,792 21,658 Multilateral 130 325 1,895 5,144 5,860 7,122 7,999 10,312 of which: IBRD 0 0 0 0 0 0 0 0 IDA 59 231 1,113 3,187 3,663 4,549 5,074 6,270 Bilateral 20,041 20,126 6,785 9,114 8,233 8,996 10,793 11,346 Private creditors 1,207 1,328 2,904 2,000 1,909 1,826 1,772 1,745 of which: Bonds 0 0 560 1,210 1,161 1,111 1,061 1,041 Commercial banks 684 1,043 1,658 454 484 516 548 585 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 13 639 1,272 2,047 1,228 1,945 1,880 3,791 Public and publicly guaranteed 13 639 1,272 2,047 1,228 1,945 1,880 3,791 Official creditors 13 233 1,176 1,260 1,151 1,892 1,816 3,693 Multilateral 4 100 395 639 548 1,011 873 2,334 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 47 174 391 340 748 592 1,206 Bilateral 9 133 781 621 602 881 943 1,360 Private creditors 0 406 96 786 78 53 63 98 of which: Bonds 0 0 0 750 0 0 0 0 Commercial banks 0 389 9 36 78 53 63 98 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 99 225 937 489 486 621 732 666 Public and publicly guaranteed 99 225 937 489 486 621 732 666 Official creditors 99 175 134 303 313 455 566 547 Multilateral 3 7 6 31 43 61 80 109 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 1 2 14 23 30 37 47 Bilateral 96 168 128 272 270 394 485 438 Private creditors 0 50 802 186 173 166 166 119 of which: Bonds 0 0 0 50 50 50 50 20 Commercial banks 0 0 617 58 55 44 58 61 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 46 81 298 318 328 413 432 374 Public and publicly guaranteed 46 81 298 318 328 413 432 374 Official creditors 26 50 77 256 233 299 319 286 Multilateral 2 2 14 52 55 64 74 81 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 2 7 30 33 34 38 40 Bilateral 24 47 63 204 178 235 245 204 Private creditors 20 32 220 62 95 114 113 88 of which: Bonds 0 0 23 22 57 72 71 63 Commercial banks 4 24 153 24 26 29 32 22 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 2,565 628 -10,386 1,042 -425 4,127 2,227 3,710 Net flows on external debt -95 823 472 1,917 636 3,502 757 3,995 9. Debt restructurings Total amount rescheduled 410 89 0 201 0 0 0 0 Total amount forgiven 0 32 10,395 3 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 819 805 844 1,191 1,277 1,147 1,219 1,193 Interest 378 398 404 400 387 366 349 333 Private creditors Principal 122 101 109 105 95 102 835 73 Interest 83 80 77 74 71 68 40 12 Notes: Data on long-term public and publicly guaranteed debt for 2009 are World Bank staff estimates based on reports provided by the country. As per country's information, arrears have been removed from 2006. 305 YEMEN, REPUBLIC OF 1. Summary external debt data External debt stocks 6,354 6,251 5,125 5,439 5,644 6,089 6,258 6,356 Long-term external debt 5,162 5,562 4,109 4,794 5,080 5,507 5,679 5,861 Public and publicly guaranteed 5,162 5,562 4,109 4,794 5,080 5,507 5,679 5,861 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 317 292 246 169 95 53 Short-term external debt 1,192 689 699 353 318 413 483 442 interest arrears on long-term 192 473 27 94 100 107 112 117 Memorandum items 845 2,408 297 193 143 151 160 165 5,162 5,562 4,109 4,794 5,080 5,507 5,679 5,861 0 0 0 0 0 0 0 0 201 80 302 207 328 498 196 147 External debt flows Disbursements 305 124 137 265 353 390 285 332 Long-term external debt 305 124 137 265 353 390 285 332 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 81 65 153 149 160 198 204 182 Long-term external debt 79 65 81 93 100 112 133 139 IMF repurchases 1 0 71 56 60 87 71 44 Net flows 386 42 270 178 152 280 146 103 Long-term external debt 226 59 56 172 253 278 152 193 Short-term external debt 161 -17 285 61 -41 88 65 -46 Interest payments 88 37 91 62 74 72 79 79 Long-term external debt 28 25 45 55 67 65 70 72 IMF charges 0 0 10 3 3 2 1 0 Short-term external debt 60 11 35 4 4 5 7 6 2. Other non-debt resource inflows Foreign direct investment -131 -218 6 -302 1,121 917 1,555 129 Portfolio equity .. .. 0 .. 0 0 0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.7 1.8 1.9 1.8 1.9 Japanese yen 4.4 6.1 7.7 6.5 5.9 5.5 6.2 5.8 Pound sterling 0.7 0.6 0.3 0.1 0.0 0.0 0.0 0.0 Swiss franc 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 20.2 21.6 68.2 67.2 65.1 61.7 59.4 58.7 4. Average terms of new commitments Official creditors Interest (%) 1.8 5.1 0.9 2.4 1.9 2.8 1.8 2.2 Maturity (years) 28.6 12.5 36.4 30.0 28.4 23.7 32.5 26.1 Grace period (years) 7.2 3.3 9.6 8.3 7.8 6.2 7.8 6.3 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 4,792 3,678 8,834 15,125 17,847 20,306 24,779 24,894 Exports of goods, services & income 1,528 2,197 4,158 6,963 8,181 8,158 10,504 .. Worker remit. & comp. of employees 1,498 1,081 1,288 1,283 1,283 1,322 1,411 1,403 Imports of goods, services & income 2,579 3,069 4,221 7,745 9,332 11,092 13,918 11,287 Profit remittances on FDI 283 433 855 1,603 1,403 1,390 1,875 .. Current account balance 739 184 1,337 624 206 -1,508 -1,251 .. International reserves 441 638 2,914 6,141 7,543 7,757 8,155 6,990 6. Ratios External debt stocks to exports (%) 415.9 284.5 123.3 78.1 69.0 74.6 59.6 .. External debt stocks to GNI (%) 132.6 169.9 58.0 36.0 31.6 30.0 25.3 25.5 Debt service to exports (%) 11.1 4.6 5.9 3.0 2.9 3.3 2.7 .. Short-term to external debt stocks (%) 18.8 11.0 13.6 6.5 5.6 6.8 7.7 7.0 Multilateral to external debt stocks (%) 16.1 20.5 32.7 40.8 44.4 47.6 48.5 49.7 Reserves to external debt stocks (%) 6.9 10.2 56.9 112.9 133.7 127.4 130.3 110.0 Reserves to imports (months) 2.1 2.5 8.3 9.5 9.7 8.4 7.0 7.4 306 YEMEN, REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 5,162 5,562 4,109 4,794 5,080 5,507 5,679 5,861 Public and publicly guaranteed 5,162 5,562 4,109 4,794 5,080 5,507 5,679 5,861 Official creditors 3,504 3,844 4,046 4,787 5,073 5,500 5,673 5,856 Multilateral 1,026 1,278 1,676 2,219 2,507 2,901 3,036 3,159 of which: IBRD 0 0 0 0 0 0 0 0 IDA 602 827 1,216 1,689 1,894 2,058 2,113 2,187 Bilateral 2,478 2,565 2,370 2,568 2,565 2,598 2,637 2,698 Private creditors 1,658 1,718 63 7 7 7 6 5 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 80 80 53 7 7 7 6 5 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 305 124 137 265 353 390 285 332 Public and publicly guaranteed 305 124 137 265 353 390 285 332 Official creditors 139 124 137 265 353 390 285 332 Multilateral 56 109 111 217 262 345 241 212 of which: IBRD 0 0 0 0 0 0 0 0 IDA 27 42 65 129 160 122 108 101 Bilateral 84 15 27 49 91 45 44 120 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 93 100 112 133 139 Public and publicly guaranteed 79 65 81 93 100 112 133 139 Official creditors 74 63 81 93 99 111 132 138 Multilateral 41 53 60 58 61 66 78 84 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 8 14 27 31 34 38 42 Bilateral 34 10 20 35 38 45 54 54 Private creditors 5 2 0 0 0 1 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 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 Interest payments 28 25 45 55 67 65 70 72 Public and publicly guaranteed 28 25 45 55 67 65 70 72 Official creditors 23 25 45 55 67 65 70 72 Multilateral 14 18 21 27 30 34 38 40 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 6 9 15 15 15 16 15 Bilateral 9 7 24 28 37 31 32 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 -111 204 446 169 98 Net flows on external debt 386 42 270 178 152 280 146 103 9. Debt restructurings Total amount rescheduled 98 0 123 65 0 0 0 0 Total amount forgiven 0 0 9 116 123 8 20 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 217 231 244 265 283 283 289 287 Interest 86 90 90 88 85 81 76 71 Private creditors Principal 1 1 1 1 1 0 0 0 Interest 0 0 0 0 0 0 0 0 307 ZAMBIA 1. Summary external debt data External debt stocks 6,905 6,958 5,722 5,377 2,278 2,758 2,984 3,049 Long-term external debt 4,543 5,304 4,508 4,541 1,794 2,097 2,215 2,230 Public and publicly guaranteed 4,541 5,291 4,444 3,945 967 1,116 1,167 1,210 Private nonguaranteed 2 13 65 596 826 981 1,049 1,020 Use of IMF credit 949 1,239 1,138 591 41 87 96 345 Short-term external debt 1,413 415 76 244 443 575 674 474 interest arrears on long-term 738 177 33 90 140 149 152 154 Memorandum items 1,493 772 137 340 315 317 322 323 4,541 5,259 4,413 3,942 967 1,116 1,167 1,210 2 45 95 599 827 981 1,049 1,020 202 382 330 58 139 144 133 175 External debt flows Disbursements 164 2,606 287 236 447 359 251 371 Long-term external debt 164 352 261 220 423 316 240 127 IMF purchases 0 2,253 26 16 24 42 11 244 Principal repayments 124 2,067 98 215 87 75 114 124 Long-term external debt 100 242 98 136 87 75 114 124 IMF repurchases 25 1,825 0 79 0 0 0 0 Net flows -125 435 159 86 509 406 234 45 Long-term external debt 65 110 163 84 335 241 126 4 Short-term external debt -165 -104 -30 65 149 123 96 -202 Interest payments 76 545 88 66 53 46 52 48 Long-term external debt 72 125 80 58 44 32 39 37 IMF charges 2 419 6 4 0 0 0 1 Short-term external debt 3 1 3 5 9 13 13 10 2. Other non-debt resource inflows Foreign direct investment 203 97 122 357 616 1,324 939 699 Portfolio equity 0 .. 6 5 2 4 -6 -13 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.0 20.8 18.7 15.4 14.0 Japanese yen 10.0 11.2 13.9 1.2 0.0 0.0 0.0 0.0 Pound sterling 8.5 7.7 3.9 5.1 0.7 0.5 0.3 0.3 Swiss franc 0.5 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 28.1 39.6 61.7 72.8 39.2 41.0 39.1 37.5 4. Average terms of new commitments Official creditors Interest (%) 6.5 1.5 0.8 0.8 0.8 1.3 0.8 0.6 Maturity (years) 20.7 37.3 39.6 35.8 37.3 31.5 46.3 34.1 Grace period (years) 6.6 10.3 10.1 8.2 9.9 7.7 10.3 9.1 Private creditors Interest (%) 11.0 10.5 0.0 0.0 2.0 0.0 3.0 0.0 Maturity (years) 6.9 9.2 0.0 0.0 15.2 0.0 3.9 0.0 Grace period (years) 1.4 2.9 0.0 0.0 4.7 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,008 3,235 3,082 6,761 9,534 9,997 13,306 11,384 Exports of goods, services & income 1,362 .. 891 2,533 4,175 4,818 5,283 4,565 Worker remit. & comp. of employees .. .. .. 53 58 59 68 68 Imports of goods, services & income 2,336 .. 1,496 3,239 4,411 6,047 6,894 5,487 Profit remittances on FDI 115 .. 0 461 1,107 1,474 1,346 1,294 Current account balance -594 .. -591 -600 126 -698 -1,046 .. International reserves 201 223 245 560 720 1,090 1,096 1,892 6. Ratios External debt stocks to exports (%) 507.0 .. 642.0 212.3 54.6 57.2 56.5 66.8 External debt stocks to GNI (%) 229.5 215.1 185.7 79.5 23.9 27.6 22.4 26.8 Debt service to exports (%) 14.7 .. 20.8 11.1 3.4 2.5 3.1 3.8 Short-term to external debt stocks (%) 20.5 6.0 1.3 4.5 19.4 20.8 22.6 15.6 Multilateral to external debt stocks (%) 20.1 30.5 42.0 58.2 30.0 27.9 27.7 28.9 Reserves to external debt stocks (%) 2.9 3.2 4.3 10.4 31.6 39.5 36.7 62.1 Reserves to imports (months) 1.0 .. 2.0 2.1 2.0 2.2 1.9 4.1 308 ZAMBIA 7. Long-term external debt Debt outstanding and disbursed 4,543 5,304 4,508 4,541 1,794 2,097 2,215 2,230 Public and publicly guaranteed 4,541 5,291 4,444 3,945 967 1,116 1,167 1,210 Official creditors 4,097 5,080 4,412 3,644 862 1,007 1,053 1,103 Multilateral 1,389 2,120 2,403 3,129 683 769 826 881 of which: IBRD 539 163 25 0 0 0 0 0 IDA 274 1,270 1,823 2,488 260 323 371 407 Bilateral 2,708 2,960 2,009 515 179 239 227 222 Private creditors 444 210 31 301 105 108 114 107 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 70 16 0 5 57 61 63 61 Private nonguaranteed 2 13 65 596 826 981 1,049 1,020 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 164 352 261 220 423 316 240 127 Public and publicly guaranteed 162 351 251 116 166 119 119 93 Official creditors 117 327 251 113 113 117 109 93 Multilateral 106 251 249 111 110 80 101 72 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 209 210 77 40 51 51 33 Bilateral 11 76 2 2 4 37 8 21 Private creditors 46 24 0 3 52 2 10 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 8 0 3 52 2 0 0 Private nonguaranteed 2 1 10 105 257 197 121 35 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 100 242 98 136 87 75 114 124 Public and publicly guaranteed 100 241 79 71 51 32 61 61 Official creditors 43 180 79 59 50 31 53 54 Multilateral 37 120 51 21 25 30 29 28 of which: IBRD 5 50 8 0 0 0 0 0 IDA 0 2 4 1 1 0 1 1 Bilateral 5 60 28 38 25 1 24 26 Private creditors 57 61 1 12 1 2 8 7 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 0 1 2 2 2 Private nonguaranteed 0 1 18 66 36 43 53 63 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 72 125 80 58 44 32 39 37 Public and publicly guaranteed 72 125 76 29 21 9 15 13 Official creditors 43 116 76 29 20 8 13 11 Multilateral 33 65 33 25 17 8 9 8 of which: IBRD 1 15 3 0 0 0 0 0 IDA 0 9 13 16 8 2 3 3 Bilateral 10 51 42 4 3 0 4 3 Private creditors 29 9 0 0 0 1 2 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 1 2 1 Private nonguaranteed 0 0 4 28 23 23 24 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 -2,073 -3,098 480 226 65 Net flows on external debt -125 435 159 86 509 406 234 45 9. Debt restructurings Total amount rescheduled 690 20 169 58 9 51 0 0 Total amount forgiven 162 3 56 1,643 3,592 12 12 3 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 56 49 49 43 48 51 51 47 Interest 12 12 11 11 10 10 10 9 Private creditors Principal 214 157 139 84 68 52 45 37 Interest 46 35 24 18 13 9 6 3 Notes: Zambia was granted debt relief effective in 2006 under MDRI. Data on long-term public and publicly guaranteed debt from 2007 are World Bank staff estimates based on reports provided by the country. Data on long-term private nonguaranteed debt for 2009 are World Bank staff estimates. 309 ZIMBABWE 1. Summary external debt data External debt stocks 3,279 4,989 3,827 4,230 4,636 5,365 5,266 5,015 Long-term external debt 2,681 3,843 2,979 3,227 3,413 3,788 3,750 3,831 Public and publicly guaranteed 2,496 3,462 2,774 3,195 3,387 3,713 3,661 3,742 Private nonguaranteed 185 381 205 32 26 75 89 89 Use of IMF credit 7 461 281 111 113 118 114 116 Short-term external debt 591 685 568 893 1,111 1,459 1,402 1,068 interest arrears on long-term 0 3 55 536 622 756 811 921 Memorandum items 0 21 167 1,523 1,791 2,100 2,201 2,439 2,495 3,462 2,767 3,187 3,387 3,713 3,661 3,742 186 381 212 39 26 75 89 89 468 218 50 11 201 0 0 0 External debt flows Disbursements 424 654 185 25 45 227 94 79 Long-term external debt 424 574 185 25 45 227 94 79 IMF purchases 0 80 0 0 0 0 0 0 Principal repayments 270 398 282 210 38 55 57 66 Long-term external debt 247 398 212 45 35 55 55 66 IMF repurchases 24 0 70 165 3 0 2 0 Net flows 335 442 -330 -224 138 386 -75 -431 Long-term external debt 177 176 -27 -20 10 173 39 13 Short-term external debt 181 187 -233 -40 132 214 -112 -444 Interest payments 201 238 138 27 54 41 26 35 Long-term external debt 149 189 81 7 4 14 10 30 IMF charges 2 13 10 0 23 0 0 0 Short-term external debt 49 35 48 19 27 27 16 5 2. Other non-debt resource inflows Foreign direct investment -12 118 23 103 40 69 52 60 Portfolio equity 0 .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 32.0 33.6 34.2 32.7 33.4 Japanese yen 2.1 3.6 5.4 5.3 5.0 4.7 6.0 5.8 Pound sterling 13.8 6.7 5.5 5.9 6.3 5.9 4.4 4.8 Swiss franc 0.9 0.9 0.4 0.4 0.4 0.4 0.5 0.5 U.S.dollars 29.9 26.2 29.9 28.6 27.7 29.3 30.3 29.9 4. Average terms of new commitments Official creditors Interest (%) 6.4 3.0 4.8 3.0 6.1 0.0 0.0 0.0 Maturity (years) 23.1 23.3 12.9 15.0 4.1 0.0 0.0 0.0 Grace period (years) 4.7 6.8 3.6 4.5 0.5 0.0 0.0 0.0 Private creditors Interest (%) 7.2 6.1 13.9 6.5 0.0 0.0 0.0 0.0 Maturity (years) 10.5 8.8 9.8 5.5 0.0 0.0 0.0 0.0 Grace period (years) 1.5 1.6 4.1 0.9 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 8,494 6,789 7,145 3,220 .. .. .. .. Exports of goods, services & income 2,035 .. .. .. .. .. .. .. Worker remit. & comp. of employees 1 .. .. .. .. .. .. .. Imports of goods, services & income 2,287 .. .. .. .. .. .. .. Profit remittances on FDI .. .. .. .. .. .. .. .. Current account balance -140 .. .. .. .. .. .. .. International reserves 295 888 321 .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 161.1 .. .. .. .. .. .. .. External debt stocks to GNI (%) 38.6 73.5 53.6 131.4 .. .. .. .. Debt service to exports (%) 23.1 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 18.0 13.7 14.8 21.1 24.0 27.2 26.6 21.3 Multilateral to external debt stocks (%) 19.4 29.9 35.3 35.1 33.4 30.0 30.5 32.3 Reserves to external debt stocks (%) 9.0 17.8 8.4 .. .. .. .. .. Reserves to imports (months) 1.5 .. .. .. .. .. .. .. 310 ZIMBABWE 7. Long-term external debt Debt outstanding and disbursed 2,681 3,843 2,979 3,227 3,413 3,788 3,750 3,831 Public and publicly guaranteed 2,496 3,462 2,774 3,195 3,387 3,713 3,661 3,742 Official creditors 1,540 2,798 2,437 2,789 2,946 3,247 3,236 3,296 Multilateral 637 1,491 1,352 1,485 1,547 1,611 1,605 1,619 of which: IBRD 381 560 416 437 445 455 464 463 IDA 67 336 437 478 501 522 519 522 Bilateral 903 1,307 1,085 1,304 1,399 1,636 1,631 1,677 Private creditors 956 664 337 406 441 466 425 446 of which: Bonds 293 120 0 0 0 0 0 0 Commercial banks 208 162 198 264 287 306 264 279 Private nonguaranteed 185 381 205 32 26 75 89 89 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 424 574 185 25 45 227 94 79 Public and publicly guaranteed 297 345 139 25 28 160 28 13 Official creditors 158 232 125 17 23 160 13 13 Multilateral 72 125 44 7 2 0 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 10 21 160 13 13 Private creditors 139 114 15 8 5 0 14 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 29 72 11 4 0 0 0 0 Private nonguaranteed 127 229 46 0 17 68 66 66 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 247 398 212 45 35 55 55 66 Public and publicly guaranteed 229 307 147 31 13 36 3 0 Official creditors 78 166 114 21 11 36 3 0 Multilateral 46 77 77 5 2 2 3 0 of which: IBRD 33 47 46 2 0 0 0 0 IDA 0 1 0 0 0 0 0 0 Bilateral 32 89 37 16 9 33 0 0 Private creditors 151 142 33 10 2 0 0 0 of which: Bonds 30 30 0 0 0 0 0 0 Commercial banks 46 32 12 1 0 0 0 0 Private nonguaranteed 18 91 65 14 22 19 52 66 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 149 189 81 7 4 14 10 30 Public and publicly guaranteed 141 163 64 3 2 13 5 14 Official creditors 67 115 51 2 2 13 5 14 Multilateral 43 81 37 2 0 0 1 0 of which: IBRD 33 46 26 1 0 0 0 0 IDA 0 2 1 0 0 0 0 0 Bilateral 24 34 14 0 2 12 4 14 Private creditors 74 48 13 1 0 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 4 2 1 5 16 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 -533 406 729 -99 -251 Net flows on external debt 335 442 -330 -224 138 386 -75 -431 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 551 259 139 107 80 64 60 59 Interest 59 32 20 16 13 11 10 9 Private creditors Principal 17 10 10 10 10 9 0 0 Interest 3 2 2 1 1 0 0 0 311 . About the Data Data Sources this publication, GDF CD-ROM and online data- T he principal sources of information for the base are produced. tables in this volume are reports to the World Data on exports and imports (on a balance Bank through the World Bank's Debtor Reporting of payments basis), international reserves, current System (DRS) from member countries that have account balances, foreign direct investment (FDI), received either International Bank for Reconstruc- portfolio equity flows, and profit remittances of tion and Development (IBRD) loans or Interna- FDI are drawn mainly from the files of the IMF, tional Development Association (IDA) credits. supplemented by United Nations Conference on The DRS has its origin in the World Bank's need Trade and Development (UNCTAD) reports and to monitor and assess the financial position of country data. Balance of payments data are pre- its borrowers. Since 1951, borrowers have been sented according to the fifth edition of the IMF's required to provide statistics on their public ex- Balance of Payments Manual (BPM5). Official ternal debt and private sector debt that benefits aid flows come from data collected and published from a public guarantee. In its design, consistency, by the Development Assistance Committee (DAC) and continuity of coverage, the DRS is a unique of the Organisation for Economic Co-operation resource. Reporting countries submit detailed re- and Development (OECD). Short-term external ports on the annual status, transactions, and terms debt data are as reported by debtor countries or of the long-term external debt of public agencies are estimates based on the Bank for International and that of private ones guaranteed by a public Settlements (BIS) quarterly series of commercial agency in the debtor country. The DRS maintains banks' claims on developing countries. For some these records on a loan-by-loan basis. In 1973, countries, estimates were prepared by pooling coverage of the DRS was expanded to include pri- creditor and debtor information. Data on the vate sector nonguaranteed borrowing, but for this gross national income of most developing coun- category of debt, data are provided by borrowers tries are collected from national statistical orga- in aggregate rather than loan by loan. nizations or central banks by visiting and resident Data submitted to the DRS are processed in World Bank missions. the World Bank External Debt (WBXD) system, Every effort has been made to ensure the along with additional information received from accuracy and completeness of the external debt the files of the African Development Bank, the statistics. Coverage has been improved through Asian Development Bank, the Inter-American the efforts of the reporting agencies and close Development Bank (IDB), the International Mon- collaboration between the Bank and our part- etary Fund (IMF), institutions of the World Bank ners Commonwealth Secretariat (COMSEC) and Group (IBRD and IDA), and the European Bank UNCTAD, which provide debt recording and for Reconstruction and Development (EBRD). The reporting systems across the globe, as well as WBXD is an internal system of the World Bank. through the work of the World Bank missions, Among its outputs is the Global Development which visit member countries to gather data and Finance (GDF) database, from which the tables in to provide technical assistance on debt issues. 313 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Nevertheless, quality and coverage vary among undisbursed debt) may not equal commitments debtors and may also vary for the same debtor less repayments. Discrepancies will be particu- from year to year. Data on long-term external larly significant when exchange rates have moved debt reported by member countries are checked sharply during the year. Projected debt service is against, and supplemented by, data from several converted to U.S. dollars at rates in effect at the other sources. Among these sources are the state- end of December 2009. ments and reports of several regional development Beginning with 1991, all ruble debt owed to banks, government lending agencies, and official the former Soviet Union has been converted at a government Web sites. rate of US$1 = 0.6 ruble, except in cases where a bilateral agreement specifying a different conver- sion rate is in place. Adoption of this methodology does not constitute an endorsement by the World Methodology Bank staff of the appropriateness or validity of the exchange rate used. This matter must be resolved Aggregations bilaterally between the Russian Federation and its Total debt stock and other aggregate measures are debtor countries. derived from the summation of loan-level data on Starting with the 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 using pertaining to IBRD loans from 1985 onward are terms and conditions reported in the loan-level recorded at their current market value. Starting data, such as currency composition, cancellations, with the 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 2009 are shown in country Because of currency conversions and the timing of groups in the back of the publication. The same transactions, there may be differences between the classification is used for all historical data shown change in aggregate stocks from one period to the in Global Development Finance and the online next and flows during the relevant period; changes database. in debt outstanding, including undisbursed amounts, will therefore differ from commitments Currency Conversion less repayments. Data on external obligations are normally re- Changes in the stock of debt from one period ported to the World Bank in the currency of repay- to the next can be attributed to five factors: the ment and are converted into a common currency net flow of debt, the net change in interest ar- (U.S. dollars) using official exchange rates pub- rears, the capitalization of interest, a reduction in lished by the IMF. debt resulting from debt forgiveness or other debt Commitments, disbursements, and debt ser- reduction mechanisms, and cross-currency valua- vice payments (flows) are converted to U.S. dollars tion effects. Any residual difference in the change at the annual average exchange rate for the year. in stock not explained by one of those five factors Debt outstanding (disbursed and undisbursed) at may indicate inconsistencies in the reported data the end of a given year (stock) is converted at the or specific phenomena prevailing in an individual exchange rate in effect at the end of the relevant country (for example, an incomplete historical year. Consequently, year-to-year changes in debt series for all categories of debt). Starting in 1989, outstanding and disbursed may not be equal to net the GDF includes a debt stock reconciliation, but flows (disbursements less principal repayments); not all components are shown in the GDF print similarly, changes in debt outstanding (including edition. 314 A B O U T T H E D A T A External Debt Restructuring a decline in long-term external debt stock, but Starting in 1985, the WBXD includes informa- no flow transaction (principal repayment) will be tion on restructuring of debt by official creditors recorded. in the context of the Paris Club, restructuring by commercial creditors, debt swap operations, buy- Projections of Future Disbursements and Debt backs, and bond exchanges. It attempts to capture Service Payments accurately the effect of debt restructuring on both The WBXD system projects future disbursements external debt stocks and external debt flows, con- and future debt service payments on the assump- sistent with the terms on which the restructuring tion that every existing loan commitment will be takes place. In the compilation and presentation of fully used and repaid in full. external debt data, a distinction is made between cash flows and imputed flows. According to this Future Disbursements criterion, restructured service payments and the Disbursement projections are made using one of shift in liabilities from one financial instrument to the following methods: another as a result of debt restructuring are con- sidered to be imputed flows. Both cash flows and · Specific schedules. Debtor countries are re- imputed flows are recorded separately in WBXD. quested to submit a schedule of future disburse- The imputed flows and stock changes associ- ments, if available, at the time each new loan is ated with debt restructuring are included in the first reported. GDF tables and online database to complement · Standard schedules. In the absence of specific the cash-basis transactions recorded in the main schedules, the WBXD system projects the future body of the data. Such data encompass informa- disbursement schedule according to the undis- tion on the debt stock and debt flows restructured bursed balance of each loan at the end of the most each year, the amount of principal forgiven (inter- recent reporting period. est forgiven is shown as a memorandum item), and the amount of external debt stock reduced either These projected schedules are based on pro- by forgiveness or by a debt buyback operation. files derived from the disbursement pattern of Changes in creditors and debtors that result from comparable loans that fully disbursed. Thirty dif- debt restructuring are also reflected. For example, ferent profiles have been compiled corresponding when insured commercial credits are rescheduled, to each category of creditor and, in the case of the creditor classification shifts from private to official creditors, for concessional and nonconces- official (bilateral), reflecting the assumption of the sional loans. Each profile is derived by applying assets by the official credit insurance agencies in regression analysis techniques to a body of data the creditor country. The GDF data will show a on actual disbursements for each fully disbursed reduction in the external debt owed to the original loan in the WBXD database. The profiles are pe- private creditors equal or similar to the amount riodically updated to take into account the evolv- of debt restructured and a corresponding increase ing pattern of disbursements observed for fully in the debt owed to the new official creditor. disbursed loans. Similarly on the debtor side, when a government Future principal payments are generated by accepts responsibility for the payment of restruc- the WBXD system according to the repayment tured debt previously owed by a private enterprise, terms of each loan. Principal repayments (amor- the relevant change in the debtor category will tization) are based on the amount of the loan be reflected. Likewise, if short-term external debt commitment. If the amortization schedule fol- is restructured into a long-term obligation, the lows a set pattern (for example, equal semiannual stock of short-term external debt will decline and payments), the WBXD system calculates repay- the stock of long-term external debt will rise by ments automatically using the loan commitment the amount of short-term debt restructured. In the amount, the first and final payment dates, and the event of a debt swap of long-term external debt frequency of the payments. If future payments are (external debt to equity, external debt for nature, irregular, the WBXD system requires a schedule. or external debt for development), the face value Future interest payments are generated by of the external debt swapped will be recorded as the WBXD system according to the disbursed and 315 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 outstanding balance of the loan at the beginning of External Debt and Its Components T the period. Using the interest rate specified in the his section describes the compilation of the loan contract, the first and final interest payment major components of external debt included dates, and the frequency of payments, the WBXD in the GDF tables and database and the relation- system calculates the stream of future interest pay- ship between them, as shown in figure 1. Informa- ments due. If interest payments are irregular, the tion about general methods of compiling external WBXD system requires a schedule. debt data is discussed in the section titled "Meth- Future debt service payments are the sum odology." For concise definitions, see the Glossary. of future principal and interest payments due on existing commitments, including the undisbursed Total External Debt portion. They do not include debt service pay- Total external debt shown in the GDF is the sum ments that may become due as a result of new of long-term external debt, short-term debt, and loans contracted in subsequent years, nor do IMF credit. It represents the total debt owed to they take into account the effect of any change to nonresident creditors and repayable in foreign future debt service obligations resulting from ac- currencies or in goods or services by public and tions such as prepayment or rescheduling or from private entities in the country. (Debt repayable in cancellations that occurred after the most recent domestic currency is not included.) year-end data reported to the DRS. Both projected disbursements and future debt Short-Term Debt service payments are converted into U.S. dol- Short-term debt is defined as external debt with lars using end-December 2009 exchange rates. an original maturity of one year or less. The DRS Likewise, future interest payments on loans with requires debtor countries to report only on their a variable interest rate (for example, loans from long-term external debt. However, to gain a com- commercial banks tied to the London Interbank prehensive picture of total external obligations, Offered Rate [LIBOR]) are based on the interest the World Bank encourages debtor countries to rate prevailing at end-December 2009. provide voluntarily information on their short- term external obligations. Treatment of Arrears By its nature, short-term external debt is dif- The DRS collects information on arrears of both ficult to monitor: loan-by-loan registration is nor- principal and interest. Principal in arrears is in- mally impractical, and monitoring systems typically cluded in the amount of long-term external debt rely on information requested periodically by the outstanding and is shown separately. Interest in ar- central bank from the banking sector. The World rears on long-term external debt and interest in ar- Bank regards the debtor country as the authorita- rears on the use of IMF credit are included as part tive source of information on its short-term debt. of short-term external debt outstanding and are When such information is not made available shown separately. Clearance of interest in arrears from the debtor country, data from creditor by repayment will be recorded as an interest pay- sources may be used to get an indication of the ment in the relevant creditor category of the loan magnitude of a country's short-term external debt. (or loans) on which the arrears were incurred, as a The most important source is the BIS quarterly corresponding reduction in the level of short-term series showing the maturity distribution of com- debt outstanding, and as a net reduction in interest mercial banks' claims on developing countries. arrears. Clearance of interest arrears through debt These data are reported on the basis of residual restructuring or forgiveness will be recorded as a maturity, but an estimate of short-term external reduction in the level of short-term debt outstand- liabilities by original maturity can be derived by ing and a net reduction in interest arrears. When deducting from claims due in one year those that, interests are rescheduled, they will be capitalized: 12 months earlier, had a maturity of between one this change will be recorded as an increase in and two years. However, not all commercial banks long-term debt outstanding equal to the amount of report to the BIS in a way that allows the full ma- interest capitalized and the reduction in short-term turity distribution to be determined, and the BIS debt outstanding noted previously. data include liabilities only to banks within the BIS 316 A B O U T T H E D A T A Figure 1. External Debt and Its Components Total external debt (EDT) Short-term Long-term Use of IMF debt debt (LDOD) credits by debtor Private Public and publicly nonguaranteed debt guaranteed debt by creditor Official Private creditors creditor Commercial Multilateral Bilateral Bonds Other banks reporting area. Consequently, the results should be debt are derived from the data provided by BIS interpreted with caution. on international bank lending, which are based The flow of short-term debt may be derived on time remaining to original maturity. Interest from the change in claims (stock) data in the BIS in arrears on long-term external debt and interest quarterly series over consecutive periods, but valu- in arrears on the use of IMF credit are added to ation adjustments resulting from exchange rate short-term debt and are separately identified. movements will affect the calculations, as will prepayment and refinancing of long-term maturi- Use of IMF Credit ties falling due. When short-term external debt has Data related to the operations of the IMF are pro- been rescheduled, lags in reporting and differences vided by the IMF Treasurer's Department. They in the treatment of the rescheduled external debt are converted from special drawing rights into dol- by debtors and creditors may result in double lars using end-of-period exchange rates for stocks counting. and average-over-the-period exchange rates for The information on short-term debt shown in flows. IMF trust fund operations under the En- this publication comes primarily from either credi- hanced Structural Adjustment Facility, Extended tor or government sources. Unless otherwise speci- Fund Facility, Poverty Reduction and Growth fied in the country tables, the data for short-term Facility, and Structural Adjustment Facility (En- 317 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 hanced Structural Adjustment Facility in 1999) anteed debt is based on the national data on quar- are presented together with all of the IMF's special terly external debt statistics or IMF data. Flows are facilities (buffer stock, supplemental reserve, com- derived from the change in stock over consecutive pensatory and contingency facilities, oil facilities, periods and are adjusted for the effects of exchange and other facilities). rate movements (assuming the currency composi- tion mirrors that of public and publicly guaran- Long-Term Debt teed debt) and for any known debt restructuring. Long-term debt has an original maturity of more Principal repayments are estimated on the basis of than one year. It comprises the obligations of both the average maturity observed for loans to private public and private debtors. Private nonguaranteed sector borrowers in countries reporting to the DRS debt comprises the external obligations of private and on the basis of the stock of debt outstanding. debtors that are not guaranteed for repayment by Interest payments are estimated on the basis of the a public entity in the debtor country. stock of debt outstanding and interest rates prevail- Public and publicly guaranteed debt com- ing in international capital markets. prises the external obligations of public debtors Balance of payments data provide a useful and has two components: (a) public debt, which is guideline in the estimation process: private non- borrowing by the national government or agency, guaranteed external debt may be derived as a re- by a political subdivision or agency, or by autono- sidual between net long-term external borrowing mous public bodies, and (b) publicly guaranteed recorded in the balance of payments and net long- debt, which is borrowing by a private agency that term public and publicly guaranteed external debt is guaranteed for repayment by a public entity. reported to the DRS. Private Nonguaranteed Debt Public and Publicly Guaranteed Debt The DRS reporting requirements were expanded Data related to public and publicly guaranteed in 1973 to include long-term private nonguaran- debt are reported to the DRS on a loan-by-loan teed debt. Data are reported annually on an aggre- basis. The data provide annual information on gate basis and include, for the reporting year, the the disbursed and outstanding balance and the total amount of disbursed and outstanding debt; undisbursed balance of each loan, the cumulative the amount of disbursements, principal repay- disbursements, the principal and interest paid and ments, and interest payments; the principal and in- principal and interest restructured in the reporting terest rescheduled; and the projected principal and year, and the stock of any outstanding payment's interest payments for future years. The aggregate arrears of principal and interest. Detailed informa- data are usually reported in U.S. dollars, and no tion on the terms and conditions of each loan is information on the underlying currency composi- also reported. Public debt and publicly guaranteed tion is given. debt are shown as a single line in this publication DRS reporting countries recognize the impor- and then further disaggregated by creditor type tance of monitoring borrowing by their private and, in the case of private creditors, by type of sector, particularly when it constitutes a significant credit instrument. portion of total external debt, but many countries acknowledge the difficulty of this process. De- Official Creditors tailed data are available only when countries have Official creditors include multilateral and bilateral registration requirements for private nonguaran- lenders. In general, official creditors provide loans teed debt in place, most commonly in connection (and, in some cases, provide grants) to public bod- with exchange controls. When formal registration ies, although in some cases they may lend to other of private nonguaranteed debt is not mandatory, entities with a public guarantee. compilers must rely on balance of payments data Multilateral creditors are international finan- and financial surveys. cial institutions such as the World Bank, regional The data on private nonguaranteed debt in this development banks, and other multilateral and publication is as reported or as estimated for coun- intergovernmental agencies whose lending is ad- tries where this type of external debt is known to ministered on a multilateral basis. Funds adminis- be significant. The estimation of private nonguar- tered by an international financial organization on 318 A B O U T T H E D A T A behalf of a single donor government constitute bi- estimates based on country's balance of payments lateral loans (or grants). For lending by a number reports: Afghanistan from 2006 to 2009, Algeria of multilateral creditors, the data presented in this from 2004 to 2008, Bhutan from 2003 to 2009, publication are taken from the creditors' records. Bolivia in 2009, Bosnia and Herzegovina in 2009, Such creditors include the African Development Botswana in 2009, Chad from 2003 to 2009, Bank, the Asian Development Bank, the IDB, the El Salvador in 2009, Ethiopia in 2009, Gabon IBRD, and the IDA. (IBRD and IDA are institu- from 2006 to 2009, Kenya in 2009, Kosovo in tions of the World Bank.) 2009, Lesotho in 2009, Madagascar in 2006 and Bilateral creditors are governments and their 2009, Malaysia in 2009, Montenegro from 2007 agencies, including central banks, aid agencies, of- to 2009, Niger in 2008 and 2009, Papua New ficial export credit agencies, and autonomous agen- Guinea from 2006 to 2009, Sudan in 2009, Swa- cies such as the U.S. Department of Agriculture or ziland in 2009, Tanzania in 2009, Tonga in 2009, the Federal Home Loan Bank. Member countries of and Tunisia in 2009. the OECD Development Assistance Committee and Data for imports of goods, services, and in- some other countries also report information on come for the following countries are World Bank loans extended bilaterally or officially guaranteed estimates based on country's balance of payments to the Creditor Reporting System of the OECD. reports: Afghanistan in 2007 and 2008, Algeria Private creditors include commercial banks, from 2004 to 2008, Benin in 2008, Bhutan from bondholders, and other private creditors. This line 2007 to 2009, Bolivia in 2009, Bosnia and Her- includes only publicly guaranteed creditors. Non- zegovina in 2009, Botswana in 2009, the Central guaranteed private creditors are shown separately. African Republic in 2007 and 2008, Chad from Bonds include publicly issued or privately 2003 to 2009, the Comoros in 2007 and 2008, placed bonds. the Democratic Republic of Congo from 2007 to Commercial bank loans are loans from pri- 2009, El Salvador in 2009, Eritrea in 2007, Ethi- vate banks and other private financial institutions. opia in 2009, Gabon from 2006 to 2009, India Credits of other private creditors include in 2009, Kenya in 2009, Kosovo from 2007 to credits from manufacturers, exporters, and other 2009, Lesotho in 2009, Madagascar from 2006 suppliers of goods, plus bank credits covered by a to 2009, Malawi in 2007 and 2008, Malaysia guarantee of an export credit agency. This line is in 2009, Mauritania in 2007 and 2009, Mon- included in the online database but is not shown in tenegro from 2007 to 2009, Niger in 2008 and the published tables. It can be obtained as the dif- 2009, Papua New Guinea from 2006 to 2009, ference between (a) credits of total private credi- Samoa in 2008, Senegal in 2008, Sudan in 2009, tors and (b) bonds and commercial bank loans. Swaziland in 2008 and 2009, Tanzania in 2009, Tonga in 2009, Tunisia in 2009, Turkmenistan in 2007 and 2008, Uzbekistan in 2007 and 2008, Vanuatu in 2008 and in 2009, and the Republic Countries with Estimated Data of Yemen in 2009. D ata for exports of goods, services, and income for the following countries are World Bank 319 . Country Groups Regional Groups East Asia and Pacific Serbiaa,b(A) Middle East and North Africa Congo, Dem. Rep. (E) Tajikistan (A) Congo, Rep. (P) Cambodia (A) Turkey (A) Algeria (A) Côte d'Ivoire (A) China (P) Turkmenistan (E) Djibouti (A) Eritrea (A) Fiji (A) Ukraine (A) Egypt, Arab Rep. (A) Ethiopia (A) Indonesia (A) Uzbekistan (A) Iran, Islamic Rep (A) Gabon (P) Lao PDR (P) Jordan (A) Gambia, The (E) Malaysia (E) Latin America and the Caribbean Lebanon (A) Ghana (A) Mongolia (A) Morocco (A) Guinea (E) Myanmar (E) Argentina (A) Syrian Arab Republic (A) Guinea-Bissau (E) Papua New Guinea (A) Belize (A) Tunisia (A) Kenya (A) Philippines (A) Bolivia (A) Yemen, Rep. (A) Lesotho (A) Samoa (A) Brazil (A) Liberia (E) Solomon Islands (A) Chile (A) South Asia Madagascar (A) Thailand (A) Colombia (A) Malawi (A) Tonga (A) Costa Rica (A) Afghanistan (A) Mali (P) Vanuatu (A) Dominica (A) Bangladesh (A) Mauritania (A) Vietnam (P) Dominican Republic (A) Bhutan (A) Mauritius (P) Ecuador (A) India (A) Mozambique (A) Europe and Central Asia El Salvador (A) Maldives (A) Niger (A) Grenada (A) Nepal (A) Nigeria (A) Albania (A) Guatemala (A) Pakistan (A) Rwanda (E) Armenia (A) Guyana (A) Sri Lanka (A) São Tomé and Principe (P) Azerbaijan (A) Haiti (A) Senegal (A) Belarus (A) Honduras (A) Sub-Saharan Africa Seychelles (A) Bosnia and Herzegovinaa (A) Jamaica (A) Sierra Leone (P) Bulgaria (A) Mexico (A) Angola (A) Somalia (E) Georgia (A) Nicaragua (A) Benin (A) South Africa (P) Kazakhstan (A) Panama (A) Botswana (A) Sudan (A) Kosovo (A) Paraguay (A) Burkina Faso (E) Swaziland (A) Kyrgyz Republic (A) Peru (A) Burundi (A) Tanzania (A) Lithuania (A) St. Kitts and Nevis (P) Cameroon (A) Togo (A) Macedonia, FYR (A) St. Lucia (A) Cape Verde (A) Uganda (A) Moldova (A) St. Vincent and the Central African Zambia (P) Montenegro (A) Grenadines (A) Republic (P) Zimbabwe (A) Romania (A) Uruguay (A) Chad (A) Russian Federation (P) Venezuela, RB (A) Comoros (P) Note: Letters in parentheses indicate DRS reporters' status: (A) as reported, (P) preliminary, and (E) estimated. The status "as reported" indicates that the country was fully current in its report- ing under the DRS and that World Bank staff members are satisfied that the reported data give an adequate and fair representation of the country's total public debt. "Preliminary" data are based on reported or collected information but, because of incompleteness or other reasons, include an element of staff estimation. "Estimated" data indicate that countries are not current in their reporting and that a significant element of staff estimation was necessary in producing the data tables. a. For Bosnia and Herzegovina, total debt before 1999 (excluding IBRD and IMF obligations and short-term debt) is included under Serbia. b. Data prior to 2006 include Montenegro. 321 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Income Groups Low-income countries Somalia Dominican Republic Papua New Guinea Tajikistan Ecuador Paraguay Afghanistan Tanzania Egypt, Arab Rep. Peru Bangladesh Togo El Salvador Philippines Benin Uganda Fiji Romania Burkina Faso Zambia Gabon Russian Federation Burundi Zimbabwe Georgia Samoa Cambodia Grenada São Tomé and Principe Central African Republic Middle-income countries Guatemala Senegal Chad Guyana Serbia Comoros Albania Honduras Seychelles Congo, Dem. Rep. Algeria India South Africa Eritrea Angola Indonesia Sri Lanka Ethiopia Argentina Iran, Islamic Rep. Syrian Arab Republic Gambia, The Armenia Jamaica St. Kitts and Nevis Ghana Azerbaijan Jordan St. Lucia Guinea Belarus Kazakhstan St. Vincent and the Grenadines Guinea-Bissau Belize Kosovo Sudan Haiti Bhutan Lebanon Swaziland Kenya Bolivia Lesotho Thailand Kyrgyz Republic Botswana Lithuania Tonga Lao PDR Bosnia and Herzegovina Macedonia, FYR Tunisia Liberia Brazil Malaysia Turkey Madagascar Bulgaria Maldives Turkmenistan Malawi Cameroon Mauritius Ukraine Mali Cape Verde Mexico Uruguay Mauritania Chile Moldova Uzbekistan Mozambique China Mongolia Vanuatu Myanmar Colombia Montenegro Venezuela, RB Nepal Congo, Rep. Morocco Vietnam Niger Costa Rica Nicaragua Yemen, Rep. Rwanda Côte d'Ivoire Nigeria Sierra Leone Djibouti Pakistan Solomon Islands Dominica Panama Note: Low-income countries are those with a GNI per capita of $995 or less in 2009. Middle-income economies are those with a GNI per capita of more than $996 but less than $12,195. Lower- middle-income and upper-middle-income countries are separated at a GNI per capita of $3,946. 322 . Glossary Average terms of new commitments provide unit of account is also taken into account. The information on the average terms (interest rate, principal currencies in which the external debt of maturity, and grace period) of new commitments low- and middle-income countries is contracted on public and publicly guaranteed external debt (the euro, Japanese yen, pound sterling, Swiss contracted with public and private creditors. Av- franc, and U.S. dollar) are separately identified. erages are weighted by the amounts of the loans. Beginning in 2001, debt denominated in the currencies of the members in the euro area is Bilateral official creditors are official agencies that included under the euro rather than the national make loans on behalf of one government to an- currencies that previously prevailed. other government or to public (and, in some cases, private) borrowers in another country. Current account balance is the sum of net bal- ances on trade in goods, services, and income and Bonds are debt instruments issued by public and the net current transfers. publicly guaranteed or private debtors with dura- tions of one year or longer. Bonds usually give the Debt buyback is the repurchase by a debtor of its holder the unconditional right to fixed money in- own debt, either at a discount price or at par value. come or contractually determined, variable money In the event of a buyback of long-term debt, the income. face value of the debt bought back will be recorded as a decline in stock outstanding of long-term debt, Commercial banks are private banks that provide and the cash amount received by creditors will be loans and other financial services. recorded as a principal repayment. For example, Commitments of public and publicly guaranteed if a country buys back long-term external debt of debt constitute the total amount of new long-term face value B at a price P, then long-term external loans to public sector borrowers or borrowers debt will decline by B, and principal repayment will with a public sector guarantee extended by official increase by P. The difference between the price at and private lenders and for which contracts were which the debt was bought back and the face value signed in the year specified. is recorded as a debt stock write-off (the related transactions are not separately indentified in the Contractual obligations on outstanding long-term Global Development Finance (GDF) publication but external debt are the anticipated debt service pay- are available in the CD-ROM and online database). ments on long-term external debt contracted up to December 2009. Debt forgiveness grants include both debts can- celed by agreement between debtor and creditor Currency composition of public and publicly and reductions in the net present value of official guaranteed debt provides information on the nonconcessional loans resulting from concessional share of loans outstanding and disbursed by cur- rescheduling or refinancing. Data are recorded on rency of repayment. For major multilateral credi- a disbursement basis and include debt forgiveness tors, the currency composition of the relevant from bilateral and multilateral creditors. 323 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Debt outstanding and disbursed is the value at capital. The term describes a category of interna- year's end of long-term external debt owed by tional investment made by a resident entity in one public and publicly guaranteed debtors and pri- economy (direct investor) with the objective of vate nonguaranteed debtors. establishing a lasting interest in an enterprise resi- dent in an economy other than that of the investor Debt restructurings are revisions to debt service (direct investment enterprise). Ownership of 10 obligations agreed on by creditors and debtors. percent or more of the ordinary shares or voting Such agreements change the amount and timing of stock is the criterion for determining the existence future principal and interest payments. of a direct investment relationship. Debt service to exports is the ratio of the sum of Grace period is the time between the date on which principal repayments and interest paid on total a loan is committed and the date on which the first long-term debt (public and publicly guaranteed principal payment is due. The information pre- debt and private nonguaranteed debt) to the value sented in Global Development Finance is the aver- of exports of goods and services and receipts of age grace period on all public and publicly guaran- income from abroad. teed debt committed during the specified period. Debt stock-flow reconciliation shows the indica- Grants are legally binding commitments that obli- tors that affect the change in debt stocks from one gate a specific value of funds available for disburse- period to the next. ment for which there is no payment requirement. They include debt forgiveness grants and grants Disbursements are drawings during the year from bilateral and multilateral agencies (such as specified on loan commitments contracted by the the International Development Association). borrower. Gross national income (GNI) is the sum of value Exports of goods, services, and income constitute added by all resident producers, plus any product the total value of exports of goods and services, taxes (less subsidies) not included in the valuation receipts of compensation of nonresident workers, of output, plus net receipts of primary income (com- and investment income from abroad. pensation of employees and property income) from abroad. Yearly average exchange rates are used to External debt flows are debt-related transactions convert GNI from local currency to U.S. dollars. during the year specified. They include disburse- ments, principal repayments, and interest pay- Heavily Indebted Poor Country (HIPC) Initiative is ments. a program of the World Bank and the International Monetary Fund to provide debt relief to qualifying External debt stocks comprise public and publicly countries with unsustainable debt burdens. guaranteed long-term external debt, private non- guaranteed long-term external debt, use of IMF Imports of goods, services, and income constitute credit, and short-term external debt, including the total value of goods and services imported and interest arrears on long-term debt. The relation income payable to nonresidents. between external debt stock and its components is Interest arrears on long-term debt are interest pay- illustrated on page 317. ments due but not paid, shown on a cumulative External debt stocks to exports is the ratio of basis. Interest arrears are due and payable imme- outstanding external debt to the value of exports diately and are therefore regarded as short-term of goods and services and receipts of income from obligations. Thus, an increase in interest arrears abroad. on long-term debt will be recorded as an increase in short-term debt. Interest in arrears on the use of External debt stocks to GNI is the ratio of out- IMF credit is also considered to be part of short- standing external debt to gross national income. term external debt. Foreign direct investment refers to direct invest- Interest payments are the amounts of interest paid ment flows in the reporting economy. It is the sum in foreign currency, goods, or services in the year of equity capital, reinvestment earnings, and other specified. 324 G L O S S A R Y Interest rate is the interest rate applicable to a loan grace and repayment periods. The information commitment as specified in the loan contract. The presented in Global Development Finance is the information presented in Global Development average maturity on all public and publicly guar- Finance is the average interest on all public and anteed debt committed during the specified period. publicly guaranteed debt committed during the specified period. Multilateral Debt Relief Initiative (MDRI) is a program of the World Bank, the IMF, the Inter- International Bank for Reconstruction and Devel- American Development Bank, and the African opment (IBRD) is a multilateral official creditor. It Development Bank that provides additional debt is the nonconcessional lending arm of the World relief to countries that have completed the HIPC Bank Group. process. International Development Association (IDA) is a Multilateral official creditors are official agencies multilateral official creditor. It is the concessional owned or governed by more than one country that financing arm of the World Bank Group. The provide loan financing. They include international IDA also provides grant financing to qualified financial institutions such as the World Bank, borrowers. regional development banks, and other intergov- ernmental agencies. International Monetary Fund (IMF) charges are the amounts of interest paid in foreign currency in Multilateral to external debt stocks is the ratio of the year specified for transactions with the IMF. the stock of debt owed to multilateral creditors to total external debt. International Monetary Fund (IMF) purchases are the total drawings on the general resources ac- Net flows on external debt are disbursements on count of the IMF during the year specified, exclud- long-term external debt and IMF purchases minus ing drawings in the reserve tranche. principal repayments on long-term external debt and IMF repurchases. Up to 1984, this calcula- International Monetary Fund (IMF) repurchases tion included only long-term external debt and are the amounts of principal (amortization) paid IMF flows. From 1985, the calculation includes in foreign currency in the year specified for trans- the change in stock of short-term debt (excluding actions with the IMF. interest arrears on long-term external debt). International reserves constitute the sum of a Official creditors are governments or other bi- country's monetary authority's holdings of special lateral public entities, such as export-import drawing rights, its reserve position in the IMF, its agencies, development agencies, and multilateral holdings of foreign exchange, and its holdings of financial institutions such as the World Bank and gold (valued at year-end London prices). regional development banks. Long-term external debt is debt that has an origi- Portfolio equity is the category of international nal or extended maturity of more than one year investment that covers investment in equity securi- and that is owed to nonresidents by residents of ties. Equity securities include shares, stocks, par- an economy and is repayable in foreign currency, ticipation, or similar documents (such as American goods, or services. Depositary Receipts) that usually denote owner- ship of equity. Long-term private sector debt is long-term debt owed by the private sector, whether publicly guar- Present value of debt outstanding is the nominal anteed or not. value of all future debt service obligations on ex- isting debt discounted at prevailing market rates Long-term public sector debt is long-term external of interest. The interest rates used in this calcula- debt owed by the public sector. tion are the Commercial Interest Reference Rates (CIRR) for each relevant currency compiled and Maturity is the date on which the final principal published by the Organisation for Economic Co- repayment on a loan is due. It is the sum of the operation and Development. 325 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 1 Principal arrears on long-term debt are principal Short-term to external debt stock ratio is the ratio repayments due but not paid on long-term exter- of short-term external debt to total outstanding nal debt, shown on a cumulative basis. external debt. Principal repayments are the amounts of principal Special Drawing Rights (SDRs) refer to an interna- (amortization) paid in foreign currency, goods, or tional reserve asset that was created by the IMF in services in the year specified with respect to long- 1969 to supplement its member countries' official term external debt. reserves. The value of SDRs is based on a basket of four key international currencies: the U.S. dollar, Private creditors are bondholders, commercial the pound sterling, the Japanese yen, and the euro. banks, and other trade-related lenders. In addition to playing a role as a supplementary reserve asset, SDRs serve as the unit of account for Private nonguaranteed debt is debt owed by pri- the IMF and some other international organizations. vate sector borrowers to external creditors on loans that do not benefit from a public sector Technical cooperation grants include (a) free- guarantee by the debtor country. standing technical cooperation grants, which are intended to finance the transfer of technical and Profit remittances on FDI are payments of direct managerial skills or of technology for the purpose investment income (debit side), which consist of of building up general national capacity without income on equity (dividends, branch profits, and reference to any specific investment projects, reinvested earnings) and income on the intercom- and (b) investment-related technical cooperation pany debt (interest). grants, which are aimed at strengthening the ca- Public and publicly guaranteed debt outstanding pacity to execute specific investment projects. and disbursed is the value of debt at year's end of Total amount forgiven is the total amount of prin- public sector borrowers, or borrowers with a pub- cipal and interest due, principal and interest in ar- lic sector guarantee, owed to official and private rears, and debt stock forgiven in the year specified. lenders. Total amount rescheduled is the total amount Public and publicly guaranteed external debt com- of external debt rescheduled, including principal prises public debt (an external obligation of a public and interest due, principal and interest in arrears, debtor, such as the national government or agency, charges, penalties, and debt stock in the year a political subdivision or agency, or an autonomous specified. public body) and publicly guaranteed external debt (an external obligation of a private debtor that is Total change in external debt stocks is the differ- guaranteed for repayment by a public entity). ence in the external debt stock between two con- secutive years. Reserves to external debt stocks is the ratio of in- ternational reserves to outstanding external debt. Use of IMF credit denotes members' drawings on the IMF other than amounts drawn against the Reserves to imports (months) is the ratio of inter- country's reserve tranche position. Use of IMF national reserves to the value of imports of goods, credit includes purchases and drawings under services, and income in the year shown and is ex- Stand-By, Extended, Structural Adjustment, pressed in months: Enhanced Structural Adjustment, and Systemic Reserves Transformation Facility Arrangements as well as Trust Fund loans. Imports/12 Worker remittances and compensation of employ- Short-term external debt has an original maturity ees constitute the sum of workers' remittances, of one year or less. Available data permit no dis- compensation of employees, and migrants' trans- tinction among public, publicly guaranteed, and fers as defined in the IMF's Balance of Payments private nonguaranteed short-term external debt. Manual (BPM5). 326 . Users' Guide The general cutoff date for all data in this publication is end-September 2010. The economic aggregates presented in the tables are prepared for the convenience of users. Although debt ratios can give useful in- formation about developments in debt-servicing capacity, conclusions drawn from them will not be valid unless accompanied by careful economic evaluation. The macroeconomic data provided are collected from national statistical organizations, but in some cases they may be subject to considerable margins of error. The usual care must be taken in interpreting the ratios, particularly for the most recent years, because figures may be preliminary and subject to revision. Country notes at the end of each country table summarize major events that have taken place in the country in recent years, describe the sources of information for short-term and private nonguar- anteed external debt, and highlight main issues in the data collection process. Unless otherwise speci- fied in the country table, data on long-term public and publicly guaranteed external debt for 2009 are based on reports provided by the country. Abbreviations The following abbreviations are used in the principal ratios and indicator tables: BIS Bank for International Settlements CIRR Commercial Interest Reference Rates COMSEC Commonwealth Secretariat CRS Creditor Reporting System (of the OECD) DAC Development Assistance Committee (of the OECD) 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 the 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 Offered Rate MDRI Multilateral Debt Relief Initiative ODA Official Development Assistance OECD Organisation for Economic Co-operation and Development SDRs Special Drawing Rights (of the IMF) UNCTAD United Nations Conference on Trade and Development 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. 327 ECO-AUDIT Environmental Benefits Statement The World Bank is committed to preserving Saved: endangered forests and natural resources. · 23 trees The Office of the Publisher has chosen to · 7 million Btu of million Btu of print Global Development Finance 2011 total energy on recycled paper with 3 percent post- 50 · 2,203 lb. of consumer fiber in accordance with the rec- net greenhouse ommended standards for paper usage set gases by the Green Press Initiative, a nonprofit 10,6 09 gal. of · 10,609 gal. of program supporting publishers in using waste water fiber that is not sourced from endangered 6 4 4 lb. of · 644 lb. of forests. For more information, visit www solid waste .greenpressinitiative.org. G lobal Development Finance 2011: External Debt of Developing Countries is The database covers external debt stocks and flows, major economic aggregates, and key debt ratios, as well as average terms of new a continuation of the World Bank's publications Global Development Finance,Volume II (1997 commitments, currency composition of long- through 2009) and the earlier World Debt Tables term debt, and debt restructurings in greater (1973 through 1996). As in previous years, detail than can be included in the GDF book. GDF 2011 provides statistical tables showing The CD-ROM also contains the full contents the external debt of 128 developing countries of the print version of GDF 2011. Text that report public and publicly guaranteed providing country notes, definitions, and source external debt to the World Bank's Debtor information is linked to each table. Reporting System (DRS). It also includes World Bank open databases are available tables of key debt ratios for individual reporting through the World Bank's website, countries and the composition of external http://data.worldbank.org. The Little Data debt stocks and flows for individual reporting Book on External Debt 2011 provides a quick countries and regional and income groups reference to the data from GDF 2011. For along with some graphical presentations. more information on the GDF database, CD- GDF 2011 draws on a database maintained ROM, and print publications go to by the World Bank External Debt (WBXD) http://publications.worldbank.org/ecommerce/. system. Longer time series and more detailed Global Development Finance 2011: External data are available from the Global Development Debt of Developing Countries is unique in its Finance 2011 on CD-ROM and the World coverage of the important trends and issues Bank open databases, which contain more than fundamental to the financing of the developing 200 time series indicators, covering the years world. This report is an indispensable resource 1970 to 2009 for most reporting countries, for governments, economists, investors, financial and pipeline data for scheduled debt service consultants, academics, bankers, and the entire payments on existing commitments to 2017. development community. THE WORLD BANK 1818 H Street, NW Washington, DC 20433 USA Telephone: 202 477-1234 Facsimile: 202 477-6391 Further details about the GDF 2011 can be found at Web: www.worldbank.org www.worldbank.org/data. ISBN: 978-0-8213-8673-6 SKU 18673