T H E W O R L D B A N K Global 53097 Development Finance External Debt of Developing Countries Global Development Finance External Debt of Developing Countries Global Development Finance External Debt of Developing Countries 2010 THE WORLD BANK © 2010 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org E-mail: feedback@worldbank.org All rights reserved 1 2 3 4 13 12 11 10 This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. 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ISBN: 978-0-8213-8229-5 eISBN: 978-0-8213-8230-1 DOI: 10.1596/978-0-8213-8229-5 Table of Contents Preface vii Chad 90 Chile 92 Acknowledgments ix China 94 Overview 1 Colombia 96 Financial Flows to Developing Countries: Comoros 98 Trend in 2008 1 Congo, Democratic Republic of 100 Trends in External Debt in 2008 3 Congo, Republic of 102 Support from the World Bank Group 5 Costa Rica 104 Debt Restructurings with Official Côte d'Ivoire 106 Creditors 8 Djibouti 108 Dominica 110 Summary tables 11 Dominican Republic 112 Regional and income group aggregate tables 23 Ecuador 114 Egypt, Arab Republic of 116 Country tables 43 El Salvador 118 Afghanistan 44 Eritrea 120 Albania 46 Ethiopia 122 Algeria 48 Fiji 124 Angola 50 Gabon 126 Argentina 52 Gambia, The 128 Armenia 54 Georgia 130 Azerbaijan 56 Ghana 132 Bangladesh 58 Grenada 134 Belarus 60 Guatemala 136 Belize 62 Guinea 138 Benin 64 Guinea-Bissau 140 Bhutan 66 Guyana 142 Bolivia, Plurinational State of 68 Haiti 144 Bosnia and Herzegovina 70 Honduras 146 Botswana 72 India 148 Brazil 74 Indonesia 150 Bulgaria 76 Iran, Islamic Republic of 152 Burkina Faso 78 Jamaica 154 Burundi 80 Jordan 156 Cambodia 82 Kazakhstan 158 Cameroon 84 Kenya 160 Cape Verde 86 Kyrgyz Republic 162 Central African Republic 88 Lao People's Democratic Republic 164 v G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Latvia 166 Solomon Islands 246 Lebanon 168 Somalia 248 Lesotho 170 South Africa 250 Liberia 172 Sri Lanka 252 Lithuania 174 St. Kitts and Nevis 254 Macedonia, FYR 176 St. Lucia 256 Madagascar 178 St. Vincent and the Grenadines 258 Malawi 180 Sudan 260 Malaysia 182 Swaziland 262 Maldives 184 Tajikistan 264 Mali 186 Tanzania 266 Mauritania 188 Thailand 268 Mauritius 190 Togo 270 Mexico 192 Tonga 272 Moldova 194 Tunisia 274 Mongolia 196 Turkey 276 Montenegro 198 Turkmenistan 278 Morocco 200 Uganda 280 Mozambique 202 Ukraine 282 Myanmar 204 Uruguay 284 Nepal 206 Uzbekistan 286 Nicaragua 208 Vanuatu 288 Niger 210 Venezuela, República Bolivariana de 290 Nigeria 212 Vietnam 292 Pakistan 214 Yemen, Republic of 294 Panama 216 Zambia 296 Papua New Guinea 218 Zimbabwe 298 Paraguay 220 Peru 222 About the data 301 Philippines 224 Data sources 301 Poland 226 Methodology 302 Romania 228 External debt and its components 304 Russian Federation 230 Rwanda 232 Country groups 309 Samoa 234 São Tomé and Principe 236 Glossary 311 Senegal 238 Serbia 240 Users guide 317 Seychelles 242 Sierra Leone 244 vi . Preface T he World Bank's Debtor Reporting System Steps are continuously being taken to ensure (DRS), from which the aggregates and that the data captured by the DRS mirrors these country tables presented in this report are developments and responds to the needs of debt drawn, was established in 1951. The debt crisis managers and analysts. In this context reporting of the 1980s brought increased attention to debt requirements are periodically amended to reflect statistics and to the World Debt Tables, the prede- changes in borrowing patterns. Many developing cessor to Global Development Finance. Now the countries increasingly rely on financing raised in global financial crisis has once again heightened domestic markets, and so we are exploring ways to awareness in developing countries of the impor- expand the coverage of public sector borrowing in tance of managing their external obligations. domestic markets. At the same time we are mind- Central to this process is the measurement and ful that expanded coverage and efforts to enhance monitoring of external debt stocks and flows in a data accuracy and timeliness must be balanced coordinated and comprehensive way. The initial against the reporting burden imposed on develop- objective of the DRS was to support the World ing countries. Bringing modern technology to bear Bank's assessment of the creditworthiness of its reduces reporting costs. In partnership with the borrowers. But it has grown as a tool to inform major providers of debt data management systems developing countries and the international com- to developing countries, the Commonwealth Secre- munity of trends in external financing and as a tariat and the United Nations Conference on Trade standard for the concepts and definitions on which and Development (UNCTAD), we have established countries can base their own debt management standard code and system links that enable coun- systems. tries to provide their DRS reports electronically, in Over the years the external financing options a seamless and automated data exchange process. available to developing countries have evolved and We recognize that robust debt data and good expanded, and so too has the demand for timely debt management go hand in hand, and the World and relevant data to measure the activity of public Bank, together with its partners, is committed to and private sector borrowers and creditors. Recur- improving the capacity of developing countries rent debt crises caused by adverse global economic to manage their debt. We are also committed to conditions or poor economic management have maintaining the DRS as a rich source of informa- demanded solutions, including debt restructur- tion and welcome your comments and suggestions ing and, in the case of the poorest, most highly to ensure that it meets your needs. indebted countries, outright debt forgiveness, formulated on the basis of detailed and robust in- Shaida Badiee formation on external obligations. Director, Development Data Group vii Acknowledgments T his volume and its companion volume, Data Group (DECDG). Many others inside the The Little Data Book on External Debt, World Bank provided helpful input, especially were prepared by the Financial Data Team Sudarshan Gooptu and the staff of the Economic of the Development Data Group, led by Ibrahim Policy and Debt Department (PRMED), Mansoor Levent under the supervision of Eric Swanson Dailami and the staff of the Development Pros- and comprising Olga Akcadag, Nanasamudd pects Group (DECPG), and country economists Chhim, Shelley Fu, Akane Hanai, John Mavura, who reviewed the data. The work was carried out Gloria Moreno, Yasue Sakuramoto, Makiko Sano, under the management of Shaida Badiee. and Alagiriswamy Venkatesan, working closely The production of this volume was man- with other teams in the Development Econom- aged by Richard Fix, with the assistance of Azita ics Vice Presidency's Development Data Group. Amjadi, Alison Kwong and Vera Wen. The CD- The team was assisted by Awatif H. Abuzeid and ROM and online database were prepared by Rosario Alipio. The system support team was led Buyant Erdene Khaltarkhuu and William Prince by Abdolreza Farivari; Soong Sup Lee provided with technical support from Shelley Fu, Vilas the macroeconomic data and K. M. Vijayalakshmi K. Mandlekar, Abarna Gayathri Manickudi provided worker remittances and compensation Panchapakesan, Sujay Ramasamy, and Malarvizhi of employee data. The overview of current devel- Veerappan. The cover was designed by Jomo opments was prepared by Malvina Pollock in Tariku. Staff from External Affairs coordinated consultation with the staff of the Development the publication and dissemination of the book. ix . Overview Financial Flows to Developing portfolio equity, and bonds. Both short term debt Countries: Trend in 2008 and portfolio equity flows turned negative, record- T he global financing crisis had a pronounced impact on net capital flows to developing countries in 2008, particularly following the ing outflows of $12.7 billion and $57.1 billion respectively. Bond flows remained positive, but the inflow in 2008 was 80 percent below the level collapse of Lehman Brothers in September. Net of the prior year. Foreign direct investment (FDI) inflows fell to $780 billion, reversing an upward flows, typically more resilient in times of crisis, trend that began in 2003 and peaked at $1,222 moderated but continued to rise in 2008. Offi- billion in 2007 (table 1). Private flows (debt and cial creditors responded by providing emergency equity) declined by almost 40 percent, driven financing to developing countries most severely by the sharp fall in the flow of short-term debt, impacted by the global financial crisis. Table 1. Net Capital Inflows to Developing Countries ($ billions) 2001 2002 2003 2004 2005 2006 2007 2008 Current account balance 7.2 63.6 103.1 138.4 246.5 331.0 352.5 256.4 Financed by: Net private and official inflows 224.2 161.0 262.3 361.4 501.4 659.0 1,221.6 780.3 Net equity inflows 170.9 160.3 179.8 254.3 349.9 469.0 663.8 536.5 Net FDI inflows 164.6 151.3 154.3 215.7 281.1 363.2 528.4 593.6 Net portfolio equity inflows 6.3 9.0 25.5 38.6 68.8 105.8 135.4 57.1 Net debt flows 53.3 0.7 82.5 107.1 151.5 190.0 557.8 243.8 Official creditors 27.3 6.2 12.4 26.2 71.9 72.9 1.9 28.1 World Bank 7.8 0.1 1.5 2.7 3.3 0.2 5.3 7.6 IMF 19.5 14.2 2.4 14.7 40.2 26.7 5.1 10.8 Other official 0.0 8.1 13.3 14.2 35.0 46.0 2.1 9.7 Private creditors 26.0 5.4 94.9 133.1 223.3 262.9 559.8 215.8 Net medium- and long-term debt flows 3.9 3.0 29.7 71.6 137.7 168.1 315.3 228.5 Bonds 12.2 10.6 22.6 35.8 56.8 31.6 87.2 15.0 Banks and other private 8.3 7.6 7.1 35.8 80.9 136.5 228.1 213.5 Net short-term debt flows 22.1 8.4 65.2 61.5 85.6 94.8 244.5 12.7 Change in reserves ( increase) 80.9 168.7 292.3 398.5 393.6 643.5 1,100.5 277.1 Memorandum items Official grants excluding tech cooperation 29.1 33.9 45.8 53.6 56.8 106.9 76.0 86.2 Workers remittances 93.9 114.2 141.8 161.8 193.0 229.0 281.8 326.7 Sources: World Bank Debtor Reporting System (DRS), International Monetary Fund (IMF), Bank for International Settlements (BIS), and Organisation for Economic Co-operation and Development (OECD) Development Assistance Committee (DAC). G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 2. Net Capital Inflows to Developing Regions, Figure 1 Net equity flows to developing 2005­08 countries, 2000­08 ($ billions) $ billions 2005 2006 2007 2008 700 Net FDI inflows Net private and official inflows 500 659 1,222 781 600 Net portfolio equity inflows by region: East Asia and Pacific 184 194 292 179 500 Europe and Central Asia 155 280 486 313 400 Latin America and the Caribbean 84 69 231 173 Middle East and North Africa 16 12 26 19 300 South Asia 28 61 134 63 Sub-Saharan Africa 33 42 53 34 200 Source: World Bank DRS. 100 0 The downturn in capital flows in 2008 af- 100 2001 2002 2003 2004 2005 2006 2007 2008 fected all developing regions (table 2). Emerging market economies in Europe and Central Asia and Sources: IMF; World Bank staff estimates. South Asia combined accounted for 55 percent of the overall decline in capital flows to developing decade, with the share of the top ten recipient countries in 2008, while the net inflow of capital countries remaining at 70 percent of the total. to these two regions fell to $313 billion and $63 Low-income countries received $26.4 billion in billion, respectively. Reduced short term debt FDI in 2008, less than 5 percent of all FDI flows flows accounted for a major share of the decline to developing countries, but a 26 percent increase in East Asia and Pacific, Middle East and North over the previous year and well over double the Africa, and Europe and Central Asia. In Sub- $11.6 billion recorded in 2006. Saharan Africa two-thirds of the decline was in Portfolio equity inflows turned sharply nega- portfolio equity, with the rest in bond financing. tive in 2008 (figure 1) as investors retreated from Combined equity inflows (direct investment stock holdings in emerging markets: an outflow of and portfolio investment) totaled $536 billion in $57 billion was recorded compared to a net inflow 2008, down 19 percent from the $664 billion re- of $135 billion in 2007. But the impact was lim- corded in 2007 but still almost 14 percent higher ited to a small number of countries: typically ten than the inflow recorded in 2006. Net portfolio countries account for over 90 percent of all portfo- equity flows plunged to a negative $57 billion com- lio equity flows to developing countries (table 3). pared to an average of $121 billion in 2006­2007, but this was more than offset by increased FDI flows (see figure 1). Equity price developments were Table 3. Net Inflow of Portfolio Equity Flows-- consistent with portfolio equity outflows: the MSCI Top Ten Recipients ($ billions) global emerging market equity index was down 55 2006 2007 2008 percent in dollar terms in 2008. China commanded one-quarter of all FDI Brazil 7.7 26.2 7.6 inflows to developing countries in 2008 ($147.8 China 42.9 18.5 8.7 billion). FDI inflows to India rose by 64 percent to India 9.5 35.0 15.0 $41 billion, reflecting economic reforms in recent Indonesia 1.9 3.6 0.3 years and progress in opening up additional sec- Philippines 2.5 3.2 1.3 tors for foreign investment. The high commodity Russian Federation 6.5 18.7 15.0 prices that persisted for much of 2008 continued South Africa 15.0 8.7 4.7 Thailand 5.2 4.3 4.6 to support investments in resource-rich developing Turkey 1.9 5.1 0.7 countries such as Angola, Brazil, Chile, Kazakh- Vietnam 1.3 6.2 0.6 stan, and the Russian Federation. The concentra- tion of FDI flows has changed little over the past Source: IMF. 2 O V E R V I E W Table 4. Net Official Financing to Developing Countries, 2001­08 ($ billions) 2001 2002 2003 2004 2005 2006 2007 2008 Total 55.2 38.5 31.0 27.4 15.1 34.0 74.0 114.3 Official grants 27.9 32.4 43.5 53.6 56.8 106.9 76.0 86.2 of which IDA 0.3 0.4 1.0 1.0 1.2 1.9 2.1 Loans 27.3 6.1 12.5 26.2 71.9 72.9 2.0 28.1 Bilateral 7.6 9.4 15.2 14.1 38.6 48.4 12.7 4.3 Multilateral 35.0 15.5 2.8 12.0 33.2 24.5 10.7 32.4 of which IBRD 2.5 5.8 5.7 1.6 0.8 3.8 0.8 3.9 IDA 5.0 5.5 5.0 6.2 5.5 4.7 5.4 4.5 IMF 19.5 14.2 2.4 14.7 40.2 26.7 5.1 10.8 Source: World Bank DRS, OECD DAC. China was the only developing country to receive donors' commitment to a substantial increase in a sizeable net inflow of portfolio equity in 2008, official development assistance (ODA) to help but at $8.7 billion it was well below half the developing countries, particularly those of Sub- $18.5 billion recorded in 2007. India and Russia Saharan Africa, achieve internationally agreed were the hardest hit: both countries experienced development objectives, including the Millennium outflows of $15 billion in 2008 compared to net Development Goals (MDGs). inflows of $35 billion (India) and $19 billion (Russia) in 2007. Malaysia also recorded a large outflow, $10.7 billion, as investors retreated in light of both economic and political uncertainties Trends in External Debt in 2008 following the outcome of the general election. Official creditors responded to the turmoil in global financial markets by increasing their sup- N otwithstanding strong inflows in the first part of the year, debt flows from private creditors to developing countries fell 61 percent port to both low- and middle-income countries. in 2008 to $216 billion. This decline was only The net inflow of medium and long term financ- partially offset by the increase in net financing ing from official creditors, defined as loans plus from official creditors that stepped in with emer- grants, rose by 54 percent in 2008 to $114 billion. gency financing to the central governments in the Almost seventy five percent of these funds took the developing countries most impacted by the global form of grants directed at low-income countries financial crisis (figure 2). There was considerable with limited or no access to market-based financ- change in the structure of private financial debt. ing (table 4). Multilateral institutions, especially the IMF and the World Bank, stepped up their Figure 2 Net debt flows by creditor type activities in order to provide emergency financ- $ billions ing to the countries most impacted by the global 600 financial crisis, and IMF standby programs were put in place for a number of countries including 500 Latvia, Pakistan, Serbia, and Ukraine. These were 400 typically accompanied by additional commitments Private creditors 300 from bilateral and multilateral lenders. The U.S. Federal Reserve swap facilities with the central 200 banks of Brazil and Mexico provided short-term 100 financing. The net inflow of funds (including 0 grants) from the IMF and the World Bank (IBRD Official creditors 100 and IDA) rose to $20.5 billion in 2008, a tenfold increase over the comparable figure for 2007. 200 2001 2002 2003 2004 2005 2006 2007 2008 Official grants (excluding technical coopera- tion grants) rose by 13 percent in 2008, reflecting Source: World Bank DRS. 3 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Figure 3 Net private debt flows by creditor type All regions have experienced improvements in $ billions their external debt ratios. External debt indicators 300 measured in terms of gross national income and export earnings have improved markedly since 250 the start of the decade and this trend continued in 200 2008. Since 2000 the rate of growth in developing countries has outpaced the accumulation of new 150 Banks and other external obligations, and there has been a move private creditors 100 from debt to equity. For all developing countries Short-term flows the ratio of total external debt outstanding to 50 exports has fallen from 122.2 percent in 2000 Bonds 0 to 58.7 percent in 2008, and the debt service to exports ratio has halved to 9.5 percent. Measured 50 2001 2002 2003 2004 2005 2006 2007 2008 against developing countries' GNI the stock of ex- ternal obligations is now 22.1 percent, compared Source: World Bank DRS. to 37.2 percent in 2000 (figure 4). Note: Banks include commercial and multilateral banks. The countries of East Asia and Pacific and the Middle East and North Africa have the low- The net flow of short-term financing turned nega- est external debt measured against gross national tive ($ 13 billion) for the first time since 2000, income and export earnings. Those of Europe following large net repayments and a reduction in and Central Asia are the most indebted: the credit lines in the last quarter of the year. The net ratios of external debt outstanding to GNI inflow on bonds issued by public and private sec- (37.3 percent) and to export earnings (93.3 per- tor entities plummeted to $15 billion following a cent) in this region were three times higher than spectacular run-up in 2007 to $87 billion, almost those of the East Asian countries. This region also triple the net inflow of 2006. Lending by banks has the highest ratio of debt service to export earn- and other private creditors had risen sharply and con- ings: 18.6 percent in 2008, twice the ratio of all tinuously since 2001 but fell in 2008 (figure 3). How- developing countries. The global and financial cri- ever, the decline of 17 percent was limited when sis that erupted in 2008 had no immediate impact compared to the sharp fall in bonds and short- on debt indicators: on the contrary most regions term flows. These flows remained resilient because recorded a marked improvement in the measure of several underlying factors: (a) the continuation of external debt to GNI and to export earnings. of new lending to creditworthy public and private The only exceptions were a slight rise in the debt sector borrowers; (b) new disbursements on proj- service to export ratio for the countries of Europe ect loans committed in prior years; (c) an increase in officially guaranteed bank lending in line with Figure 4 Key debt indicators, trend 2000­08 the commitment by members of the Berne Union Percent to provide support to countries during the global 140 credit crisis; and (d) increased lending by inter- national financial institutions, led by the Interna- 120 tional Finance Corporation (IFC).1 100 Concomitant with the fall of external financ- External debt stocks to exports ing, the pace at which external debt accumulated 80 slowed. The total stock of external debt outstand- 60 ing of developing countries rose only 7.7 percent in 2008--one-third of the 22.8 percent rise in 40 External debt stocks to GNI 2007. Of the total outstanding at end-2008, 20 83 percent was accounted for by three regions: Debt service to exports Europe and Central Asia (38 percent); Latin 0 2000 2005 2007 2008 America and the Caribbean (24 percent); and East Asia and Pacific (21 percent). Sources: World Bank DRS and IMF. 4 O V E R V I E W Table 5. Debt Indicators for Regional Country Groups (percent) Debt stock/GNI Debt stock/exports Debt service/exports Region 2000 2007 2008 2000 2007 2008 2000 2007 2008 East Asia and Pacific 29.5 16.7 13.7 77.3 35.1 30.9 11.4 4.4 3.9 Europe and Central Asia 49.9 40.9 37.3 135.5 106.3 93.3 18.2 18.2 18.6 Latin America and the Caribbean 37.4 23.8 21.8 159.1 86.4 80.8 38.0 15.7 14.0 Middle East and North Africa 33.9 19.6 15.1 95.0 43.3 33.3 13.3 5.9 5.3 South Asia 26.7 20.0 21.3 152.3 81.5 74.7 14.6 12.4 8.4 Sub-Saharan Africa 66.0 23.6 21.2 180.6 54.9 48.0 11.5 5.4 3.3 Sources: World Bank DRS and IMF. and Central Asia and a small increase in the ratio Figure 5 World Bank group: exposure at of external debt outstanding to GNI for the South end-2008, by agency Asia region. The countries of Sub-Saharan Africa % of total have seen the greatest improvement in debt indica- 2% tors since 2000, in part because of booming com- IBRD IFC modity prices and as a consequence of large-scale IDA MIGA 10% debt forgiveness under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI). The debt to export 44% ratio declined to 48 percent at the end of 2008, compared to 180.6 percent in 2000, and the debt 44% service to export ratio fell to 3.3 percent, less than one third its 2000 level (table 5). Support from the World Bank Group Source: World Bank Group. T he World Bank Group is a major source of financing to developing countries. Its member institutions--IBRD, IDA, IFC, and MIGA (Multi- and the Caribbean receives the highest share of IBRD financing followed by Europe and Central lateral Investment Guarantee Agency)--committed Asia. IFC and MIGA are active in all regions but over $40 billion in 2008 to help countries strug- with a concentration in Latin America and Europe gling with the global economic crisis, a record for and Central Asia. These two regions combined ac- the institution. The World Bank Group's exposure counted for 53 percent of the IFC's and 67 percent to developing countries at end-2008 (defined as of MIGA's portfolio respectively (figure 6). disbursed and undisbursed commitments) totaled Financing by the World Bank group takes $324 billion: IBRD and IDA each had exposure several forms: loans and guarantees from IBRD, of approximately $143 billion; IFC exposure was and loans, grants, and guarantees from IDA to $32 billion; and that of MIGA was $7 billion the public sector of the borrowing country; loans (figure 5). The countries of South Asia together ac- and equity financing from IFC to the private sec- counted for almost 24 percent of the total owed to tor; and investment guarantees from MIGA. This the World Bank Group. Three other regions, East financing is captured in the data presented in Asia and Pacific, Europe and Central Asia, and Global Development Finance as follows. Loans Latin America and the Caribbean, each accounted from IBRD and IDA constitute part of the bor- for between 18 and 19 percent. IDA is reserved rowing country's public and publicly guaranteed for the world's poorest countries. Its operations debt and are also separately identified by source. are concentrated in South Asia and Sub-Saharan Loan financing from IFC is recorded as part of Africa. Together these regions account for 72 percent private nonguaranteed debt. Grants provided by of the outstanding IDA portfolio. Latin America IDA are recorded as part of aggregate resources 5 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Figure 6 World Bank Group: exposure at Figure 7 IBRD loan commitments, 2008 end-2008, regional distribution $ billions $ billions 10,000 2008 70 9,000 IBRD IFC 2007 IDA MIGA 8,000 60 7,000 50 6,000 40 5,000 4,000 30 3,000 20 2,000 1,000 10 0 be d l A nd ci ia s 0 er ib an Pa s tra e a fic an a d st A th si ar a O ric d ia ci ia be d l A nd ric n C ic en p an Ea Af an ib an Af ara C uro As Pa s e er tra e a a a fic an a d st A th Am si th t ar a h E h or as C ic en p Sa ut an Ea C ro e er N E tin So b- Eu th Am e La Su dl id tin M La Source: World Bank. Source: World Bank Group. flows within official grants, with IDA grants sepa- the zero net flow recorded in 2007. The main fac- rately identified for each recipient country. Equity tors behind this development were the sharp rise in financing from IFC and investments guaranteed gross disbursements to countries in Latin America by MIGA are recorded as part of foreign direct and the Caribbean and, to a lesser degree, East investment. IBRD and IDA guarantees do not Asia and Pacific and Europe and Central Asia, represent financing and will only be recorded as a and the decline in the pre-payment of outstanding flow of funds if the guarantee is invoked. IBRD loans by borrowers in light of the global economic situation. Gross disbursements in 2008 Trends in IBRD Financing were also highly concentrated, with 78 percent IBRD lending commitments rose to $21.5 billion going to the top eight borrowers (figure 8). in 2008, an 80 percent increase over the compara- The total debt disbursed and outstanding ble figure for 2007, driven by a surge in new loans to IBRD stood at $95.9 billion at end-2008 for to borrowers in Europe and Central Asia and countries reporting to the World Bank DRS2. Latin America and the Caribbean: new loans to Of this amount 62 percent was owed by eight these regions rose by 150 percent (to $5.6 billion) borrowers: Argentina, Brazil, China, Colombia, and 116 percent (to $9.4 billion), respectively, India, Indonesia, Mexico, and Turkey. over their 2007 level. In Latin America the major Table 6. Countries with the Highest IBRD borrowers were Brazil, Mexico, and Colombia, Commitments while in Europe the largest commitments went to Turkey, Poland, and Ukraine. New commitments Country $ billion % of total to countries in the Middle East and North Africa Brazil 2.96 13.8 also recorded a very steep rise in 2008, up by 332 Turkey 2.49 11.6 percent to $1.4 billion. Of this, the Arab Republic Mexico 2.30 10.7 of Egypt accounted for $1.1 billion. Eight IBRD Colombia 2.07 9.6 borrowers accounted for 61 percent of all new Indonesia 1.84 8.6 IBRD loans in 2008 (figure 7; table 6). China 1.71 8.0 Poland 1.25 5.8 The net flow of financing from IBRD for 2008 Egypt, Arab Rep. 1.08 5.0 (gross disbursements minus principal payments) was $3.1 billion, an important turnaround from Source: World Bank. 6 O V E R V I E W Figure 8 IBRD loan disbursements, 2008 Figure 9 IDA loan and grant commitments, 2008 $ billions $ billions 6,000 7,000 2008 2008 2007 2007 6,000 5,000 5,000 4,000 4,000 3,000 3,000 2,000 2,000 1,000 1,000 0 0 ric n l A nd be d ci ia er ia ci ia er Af ara ib an Pa s As Pa s th th tra e a a a fic an fic d tA d st A O O si ar a h h en p an Eas C ic Sa ut an Ea C uro e er So b- th Am E Su tin La Source: World Bank. Source: World Bank. Figure 10 IDA loan and grant disbursements, 2008 Table 7. Countries with the Highest IBRD Disbursements $ billions Country $ billion % of total 5,000 2008 4,500 2007 Mexico 1.94 14.3 Brazil 1.73 12.7 4,000 China 1.60 11.8 3,500 Indonesia 1.40 10.3 3,000 Turkey 1.20 8.8 India 1.12 8.3 2,500 Ukraine 0.89 6.6 2,000 Colombia 0.85 6.2 1,500 Source: World Bank. 1,000 500 0 Trends in IDA Financing ric n ia ci ia er Commitments of loans and grants from IDA to Af ara As Pa s th a fic d tA O h h an Eas Sa ut the world's poorest countries fell marginally in So b- Su 2008 to $11.8 billion from $11.9 billion in 2007 due to slight slippages in project preparation, Source: World Bank. but gross disbursements (loans and grants) rose by 5 percent to $8.9 billion. Countries in Sub- Saharan Africa received half of all IDA new ment per capita as those in the lowest quintile. In commitments and gross disbursements, followed 2008 the eight highest recipients accounted for 58 by South Asia with a 30 percent share (figure 9 percent of commitments and 51 percent of gross and figure 10). IDA resources are allocated to disbursements. Côte d'Ivoire and Togo regular- individual countries using a performance-based ized their relations with the World Bank in 2008 allocation system that also takes into account and cleared payments arrears to IBRD and IDA the size of the population and GNI per capita. totaling $0.7 billion in donor-supported opera- IDA recipient countries in the top performance tions. As a consequence debt service payments by quintile receive around three times the commit- these two countries rose, which explains in large 7 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 8. Countries with the Highest IDA end-2008, twenty-three countries, primarily in Commitments Sub-Saharan Africa, had reached the HIPC com- Country 2008 % of total pletion point and received a total of $44 billion in Bangladesh 1.83 15.6 HIPC and MDRI relief. Among African countries, Vietnam 1.10 9.3 those with the largest share of the outstanding Ethiopia 0.91 7.7 IDA portfolio include Kenya ($3.1 billion) and Nigeria 0.89 7.5 Nigeria ($2.2 billion), neither of which is eligible India 0.60 5.5 for HIPC or MDRI relief. Tanzania 0.56 4.7 Uganda 0.52 4.0 Côte d'Ivoire 0.44 3.9 Source: World Bank. Debt Restructurings with Official Creditors Table 9. Countries with the Highest IDA Disbursements R estructuring of intergovernmental loans and officially guaranteed export credits takes place under the aegis of the Paris Club4. These Country 2008 % of total agreements are concluded between the debtor India 0.96 10.7 country government and representatives of credi- Bangladesh 0.84 9.4 tor countries. Debt restructuring treatments are Vietnam 0.60 6.7 formulated on a case-by-case basis within the Ethiopia 0.55 6.1 Indonesia 0.49 5.5 context of the guiding principles of the Paris Club Tanzania 0.42 4.7 and with the consensus of all participating creditor Nigeria 0.35 4.0 countries. Most treatments fall under the follow- Côte d'Ivoire 0.35 3.9 ing, predefined categories, listed by increasing de- gree of concessionality: "Classic terms" represent Source: World Bank. the standard treatment; "Houston terms" are typically reserved for highly indebted lower- measure the fall in the net flow of financing of middle-income countries; "Naples terms" are IDA loans in 2008: $4.5 billion compared to $5.4 aimed at highly indebted poor countries; and billion in 2007. "Cologne terms" are accorded to countries eligible Total debt outstanding owed to IDA at the for the HIPC Initiative. To make the terms of a end of 2008 by countries reporting to the World Paris Club agreement effective, the debtor coun- Bank DRS rose slightly to $111.3 billion from try must sign a bilateral implementing agreement $107.7 billion at the end of 2007)3 as a conse- with each creditor. Each debtor country is also quence of the net inflow of $4.5 billion from IDA obligated to seek debt restructuring from external loans in 2008. This more than offset the effect bilateral and commercial creditors on terms com- of the depreciation of the SDR (the currency in parable to those granted by Paris Club creditors. which a large share of IDA loans are denominated) against the U.S. dollar and debt relief delivered Developments in 2008 under the HIPC Initiative and MDRI. Total debt The Paris Club restructured $3.1 billion in 2008 relief delivered by IDA in 2008 fell to $314 mil- for six low-income countries of which five are lion (of which $304 million was in principal out- countries eligible for the HIPC Initiative. This rep- standing), reflecting the relatively small number of resents 46 percent of the combined stock of debt countries remaining to receive interim relief from owed to Paris Club creditors by these countries IDA (countries between the HIPC decision and prior to implementation of the agreements con- completion points). cluded in 2008. Of the debt restructured, just over The outstanding IDA loan portfolio is half was cancelled and the remainder rescheduled heavily concentrated with five Asian coun- (table 10). The share of debt cancelled for each tries: Bangladesh, China, India, Pakistan, and debtor country was dictated by its progress under Vietnam, accounting for 54 percent of the the HIPC process and the composition of the debt total. This is a consequence of the fact that, at owed to Paris Club credits. 8 O V E R V I E W Table 10. Paris Club Agreements, January 1­December 31, 2008 Amount (millions of dollars) Consolidation period Signature Cut-off Concessionality (percent Country date (2008) date Total Rescheduled Cancelled of net present value) Start End Congo, Rep. of Dec-08 Jan-86 961 155 806 90 Jul-08 Jun-11 Djibouti Oct-08 Mar-98 76 76 0 n.a. Sep-08 Aug-11 Gambia, The Jan-08 Jul-86 15 3 12 90 stock Guinea Jan-08 Jan-86 298 116 182 90 Jan-08 Dec-10 Liberia Apr-08 Jan-83 1043 789 254 90 Mar-08 Dec-10 Togo Jun-08 Jan-83 740 393 347 67 Apr-08 Mar-11 Sources: World Bank and Paris Club. Note: n.a. not applicable. Agreements with HIPC Countries Liberia concluded an agreement with Paris Club Republic of Congo The agreement concluded with creditors in April 2008 to restructure $1,043 the Republic of Congo in December 2008 restruc- million in claims, of which all but $15 million tured claims totaling $961 million. It followed constituted arrears and late interest charges. This approval, earlier in the month, of a new three-year marked Liberia's first debt restructuring with the arrangement under the IMF Poverty Reduction Paris Club in twenty-four years (the previous re- and Growth Facility (PRGF) and was concluded structuring agreement with Paris Club creditors' on Cologne terms (90 percent net present value dates from December 1984) and the first agree- reduction) in view of the fact that the country ment to include an element of debt relief. Consis- reached the HIPC decision point in March 2006. tent with the fact that Liberia reached the HIPC Of the $961 million covered by the agreement decision point in March 2008 and the treatment $155 million was rescheduled and $806 million accorded to other HIPC countries, the agree- canceled over the three year consolidation period. ment was essentially a back-to-back arrangement that provided a flow treatment on Naples terms The Gambia became the twenty-third country to (67 percent net present value reduction) topped reach the HIPC completion point in December up to Cologne (90 percent net present value re- 2007 and concluded a stock of debt treatment duction). It led to the immediate cancellation of with Paris Club creditors on January 24, 2008. $254 million. On an exceptional basis, because of The agreement marked an exit from the Paris Club Liberia's very limited payment capacity, creditors rescheduling process and canceled claims valued at expect no payments from Liberia until the end of $12 million in nominal terms. the consolidation period (December 31, 2010), by which time Liberia is expected to have reached the Guinea concluded an agreement with Paris Club HIPC completion point. creditors on January 23, 2008, following approval in December 2007 of a new three-year arrange- Togo gained approval of a new three-year ar- ment with the IMF under the PRGF. Guinea rangement under the IMF PRGF in April 2008, reached the HIPC decision point in December paving the way for debt restructuring with Paris 2000 and was therefore eligible for a restructur- Club creditors. The agreement, concluded in June ing of debt service payments (a so-called flow 2008, restructured claims totaling $740 million of treatment) on Cologne terms (90 percent net which $347 million was cancelled and $393 mil- present value reduction). The agreement restruc- lion restructured on Naples terms (67 percent net tured $298 million of which $116 million was present value reduction). On an exceptional basis, rescheduled and $182 million canceled. In view creditors agreed to require no payments from the of Guinea's extremely limited payment capacity, Togolese authorities during the consolidation Paris Club creditors also agreed, on an exceptional period (April 2008 to March 2011). Creditors basis, to defer repayment of arrears accumulated also indicated their willingness to top up the level by Guinea until after 2010. of debt relief to Cologne terms (90 percent net 9 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 present value reduction) as soon as Togo reached that the conditions for entry into force of the third the HIPC decision point. phase had been met and granted the remaining 20 percent net present value reduction. Agreements with non-HIPC Countries In aggregate, Paris Club creditors have can- Djibouti concluded a debt restructuring agreement celled $29.7 billion and reduced the total stock of with Paris Club creditors in October 2008 following debt due to them to $7.8 billion. approval of a PRGF arrangement with the IMF in September 2008. The agreement, concluded under Houston terms, restructured a total of $76 million in claims, of which the greater share ($58 million) Notes constituted arrears and late interest charges. Official 1. Debt owed by private sector borrowers is reported to the DRS in aggregate, and borrowing from international development assistance (ODA) loans rescheduled in financial institutions, including the IFC, is not separately the context of this agreement are to be repaid over identified. 20 years with a 10-year grace period and guaranteed 2. IBRD total debt disbursed and outstanding to all commercial claims were rescheduled over 15 years borrowers was $102.2 billion at end-2008. Borrowers with with an 8-year grace period. outstanding obligations to IBRD not included in the DRS are Barbados, Croatia, Estonia, Hungary, the Republic of Korea, Namibia, the Slovak Republic, Slovenia, and Other Developments in 2008 Trinidad and Tobago. Iraq The agreement concluded by Paris Club 3. IDA loans disbursed and outstanding to all borrow- creditors with Iraq in November 2004 was a com- ers was $111.8 billion at end-2008. Borrowers not included prehensive debt treatment that reduced claims on in the DRS with outstanding obligations to IDA are Equato- rial Guinea, Iraq, the Republic of Korea, the Syrian Arab Iraq by 80 percent in net present value terms. The Republic, and Taiwan, China. reduction was delivered in three phases and con- 4. The Paris Club is an informal group of nineteen ditioned on performance under an IMF support official creditors who seek to find coordinated and sus- program of reform. The first two phases entered tainable solutions to the payment difficulties encountered into force on November 21, 2004, and December by debtor nations. These creditors are Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, 23, 2005, and reduced the net present value of Ireland, Italy, Japan, the Netherlands, Norway, the Russian the stock of debt owed to Paris Club creditors by Federation, Spain, Sweden, Switzerland, the United King- 60 percent. In December 2008 creditors confirmed dom, and the United States. 10 Summary tables 11 S U M M A R Y T A B L E S Table 1. Key Indebtedness Indicators, 2006­2008 (US$ millions) Ratio of Ratio of Ratio of Total Present total external present value of Ratio of total present value external value of debt to exports of debt to exports of external debt of debt to Country debt 2008 debt 2008 GS (%) GS (%) to GNI (%) GNI (%) Afghanistan 2,200 414 112 21 22 4 Albania 3,188 2,366 68 51 29 21 Algeria 5,476 4,831 7 6 4 3 Angola 15,130 12,860 32 27 28 24 Argentina 128,285 126,813 173 171 49 48 Armenia 3,418 2,522 132 97 36 27 Azerbaijan 4,309 3,445 18 14 15 12 Bangladesh 23,644 14,620 108 67 32 20 Belarus 12,299 11,216 42 38 26 24 Belize 1,031 797 115 89 90 70 Benin 986 541 64 35 18 10 Bhutan 692 596 119 102 63 55 Bolivia 5,537 1,949 83 29 40 14 Bosnia and Herzegovina 8,316 6,888 98 81 53 44 Botswana 438 329 7 5 4 3 Brazil 255,614 245,974 126 121 19 19 Bulgaria 38,045 35,622 136 128 98 91 Burkina Faso 1,681 922 200 110 25 14 Burundi 1,445 813 1,252 705 142 80 Cambodia 4,215 3,418 71 57 52 42 Cameroon 2,794 830 49 15 14 4 Cape Verde 625 342 83 45 44 24 Central African Republic 949 698 363 267 56 41 Chad 1,749 1,142 49 32 30 19 Chile 64,277 58,392 82 74 45 41 China 378,245 353,151 27 25 11 10 Colombia 46,887 44,358 114 108 24 23 Comoros 281 195 228 158 60 42 Congo, Dem. Rep. 12,199 9,301 415 316 131 100 Congo, Rep. 5,485 4,929 78 70 83 74 Costa Rica 8,812 8,504 63 61 35 33 Côte d'Ivoire 12,561 14,738 123 144 65 76 Djibouti 685 457 186 124 77 51 Dominica 303 259 179 153 95 81 Dominican Republic 10,484 9,349 68 61 27 24 Ecuador 16,851 15,177 84 75 38 34 Egypt, Arab Rep. 32,616 27,076 59 49 24 20 El Salvador 10,110 9,352 106 98 51 47 Eritrea 962 544 1,233 697 67 38 Ethiopia 2,882 1,550 92 49 14 8 Fiji 379 348 22 20 12 11 Gabon 2,367 2,291 28 27 24 23 Gambia, The 453 175 163 63 76 29 Georgia 3,380 2,483 89 65 33 24 Ghana 4,970 2,900 79 46 34 20 Grenada 519 554 235 251 96 102 Guatemala 15,889 14,425 120 109 47 42 Guinea 3,092 1,951 237 149 77 49 Guinea-Bissau 1,157 788 727 496 314 214 Guyana 816 512 71 45 80 50 Haiti 1,935 1,025 96 51 32 17 Honduras 3,430 1,372 38 15 29 12 India 230,611 202,963 79 70 21 18 Indonesia 150,851 145,682 106 102 36 35 Iran, Islamic Rep. 13,937 12,028 14 12 5 4 (table continues on next page) 13 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 1. Key Indebtedness Indicators, 2006­2008 (continued) (US$ millions) Ratio of Ratio of Ratio of Total Present total external present value of Ratio of total present value external value of debt to exports of debt to exports of external debt of debt to Country debt 2008 debt 2008 GS (%) GS (%) to GNI (%) GNI (%) Jamaica 10,034 11,015 135 148 79 87 Jordan 6,577 5,759 47 41 37 32 Kazakhstan 107,595 97,907 181 164 117 106 Kenya 7,441 5,325 95 68 27 19 Kyrgyz Republic 2,464 1,505 86 53 68 42 Lao PDR 4,944 3,452 374 261 119 83 Latvia 42,108 39,269 323 301 157 147 Lebanon 24,395 23,653 92 89 98 95 Lesotho 682 370 50 27 34 18 Liberia 3,484 1,904 560 306 622 340 Lithuania 31,719 29,217 130 120 85 78 Macedonia, FYR 4,678 4,326 104 96 60 55 Madagascar 2,086 1,447 98 68 29 20 Malawi 963 344 111 39 26 9 Malaysia 66,182 61,632 32 30 38 35 Maldives 987 856 108 94 96 83 Mali 2,190 772 93 33 31 11 Mauritania 1,960 1,188 107 65 68 41 Mauritius 626 539 12 10 8 7 Mexico 203,984 197,895 63 62 20 20 Moldova 3,787 3,415 106 96 74 67 Mongolia 1,721 1,139 64 42 43 28 Montenegro 1,490 1,246 80 67 40 34 Morocco 20,825 17,755 60 51 28 24 Mozambique 3,432 1,124 109 36 46 15 Myanmar 7,210 5,018 121 84 50 35 Nepal 3,685 2,239 104 63 34 21 Nicaragua 3,558 1,826 103 53 62 32 Niger 966 571 107 63 22 13 Nigeria 11,221 9,863 14 12 7 6 Pakistan 49,337 35,957 165 120 33 24 Panama 10,722 10,044 66 62 58 54 Papua New Guinea 1,418 1,227 26 22 24 21 Paraguay 4,163 3,758 56 50 32 29 Peru 28,555 28,096 83 81 28 28 Philippines 64,856 57,964 86 77 41 37 Poland 218,022 193,709 115 103 52 46 Romania 104,943 89,996 174 149 66 57 Russian Federation 402,453 376,764 87 81 32 30 Rwanda 679 282 178 74 19 8 Samoa 257 154 167 100 52 31 São Tomé and Principe 178 19 724 79 117 13 Senegal 2,861 1,825 78 50 26 16 Serbia 30,918 27,411 125 111 79 70 Seychelles 1,505 1,559 153 159 178 185 Sierra Leone 389 169 83 36 24 10 Solomon Islands 165 116 66 46 30 21 Somalia 2,949 3,635 .. .. .. .. South Africa 41,943 43,451 44 46 16 16 Sri Lanka 15,154 11,679 124 96 46 35 St. Kitts and Nevis 258 217 99 83 53 45 St. Lucia 831 760 163 149 94 86 St. Vincent and the Grenadines 207 173 81 68 39 33 Sudan 19,633 33,234 175 296 46 78 Swaziland 362 329 15 14 13 12 Tajikistan 1,466 885 42 26 39 23 Tanzania 5,938 2,357 136 54 36 14 (table continues on next page) 14 S U M M A R Y T A B L E S Table 1. Key Indebtedness Indicators, 2006­2008 (continued) (US$ millions) Ratio of Ratio of Ratio of Total Present total external present value of Ratio of total present value external value of debt to exports of debt to exports of external debt of debt to Country debt 2008 debt 2008 GS (%) GS (%) to GNI (%) GNI (%) Thailand 64,798 59,181 35 32 34 31 Togo 1,573 1,265 132 106 63 51 Tonga 90 56 85 53 35 22 Tunisia 20,776 19,109 93 85 63 58 Turkey 277,277 260,994 181 170 42 40 Turkmenistan 638 594 6 6 5 5 Uganda 2,249 1,173 71 37 19 10 Ukraine 92,479 89,004 129 124 65 63 Uruguay 11,049 10,021 134 122 44 40 Uzbekistan 3,995 3,359 37 31 18 15 Vanuatu 138 100 54 39 29 21 Venezuela, RB 50,229 51,009 57 58 21 21 Vietnam 26,158 20,413 45 36 37 29 Yemen, Rep. 6,258 3,962 61 39 29 18 Zambia 2,986 680 62 14 28 6 Zimbabwe 5,199 6,193 277 330 149 177 Notes: GS Goods and services; GNI gross national income; . . data not available. Exports and GNI are three-year averages based on 2006­08. For definitions of indicators, see the "About the data" section. Numbers in italics are based on the latest available Debt Sustainability Analysis for Low-Income Countries (LIC DSA) and include the effects of traditional relief, debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative as well as relief under the Multilateral Debt Relief Initiative (MDRI). Under MDRI, the International Development Association (IDA), the International Monetary Fund (IMF) and the African Development Fund (AfDF) provide debt stock cancellation to post-completion point HIPC countries on debt owed to the three institutions. Since 2007, the Inter-American Development Bank (IaDB) has provided similar debt stock cancellation. MDRI debt relief provides 100 percent stock cancellation on debt disbursed before end-2004 (for the IMF, AfDF, and IaDB) or end-2003 (for IDA), and still outstanding at the time the country reaches the completion point under the HIPC Initiative. In line with the Debt Sustainability Framework for Low-Income Countries, only the conditional debt relief under HIPC is included for countries in the interim period (between decision and completion point of the HIPC Initiative). Nepal decided not to avail itself of debt relief under HIPC. 15 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 2. Composition of Total External Debt Stocks for 2008 (US$ millions) Public and Public and Public and Public and publicly Total Total publicly publicly publicly guaranteed, external long-term guaranteed, guaranteed, guaranteed, commercial banks debt stocks external debt multilateral bilateral bonds and other Afghanistan 2,200 2,096 1,004 1,091 0 0 Albania 3,188 2,329 1,295 586 0 342 Algeria 5,476 4,172 20 1,981 0 1,011 Angola 15,130 12,711 421 3,583 0 8,707 Argentina 128,285 90,762 14,643 5,636 45,566 566 Armenia 3,418 2,818 1,111 333 0 1 Azerbaijan 4,309 3,061 1,140 752 0 842 Bangladesh 23,644 20,973 17,334 3,103 0 535 Belarus 12,299 5,340 50 3,529 0 172 Belize 1,031 1,024 229 105 24 657 Benin 986 926 622 305 0 0 Bhutan 692 692 238 454 0 0 Bolivia 5,537 5,371 1,812 502 10 80 Bosnia and Herzegovina 8,316 7,404 1,985 821 0 201 Botswana 438 395 248 141 0 6 Brazil 255,614 218,962 18,574 4,571 41,030 9,449 Bulgaria 38,045 19,552 2,211 799 1,617 36 Burkina Faso 1,681 1,517 1,205 291 0 22 Burundi 1,445 1,308 1,165 144 0 0 Cambodia 4,215 3,892 1,420 2,472 0 0 Cameroon 2,794 2,765 609 1,518 0 2 Cape Verde 625 611 483 118 0 10 Central African Republic 949 815 578 207 0 31 Chad 1,749 1,705 1,469 202 0 33 Chile 64,277 49,367 831 361 4,513 3,113 China 378,245 191,057 30,655 32,473 13,925 12,230 Colombia 46,887 41,202 13,259 631 12,280 3,221 Comoros 281 270 219 52 0 0 Congo, Dem. Rep. 12,199 10,872 4,150 6,371 0 351 Congo, Rep. 5,485 5,084 450 3,084 0 1,550 Costa Rica 8,812 4,948 903 332 1,660 148 Côte d'Ivoire 12,561 11,028 2,892 5,224 0 2,499 Djibouti 685 667 363 292 0 12 Dominica 303 205 111 34 37 23 Dominican Republic 10,484 7,989 1,883 2,538 1,374 1,350 Ecuador 16,851 15,187 4,119 1,387 3,860 228 Egypt, Arab Rep. 32,616 30,097 6,999 18,998 2,184 338 El Salvador 10,110 9,058 2,773 702 2,174 93 Eritrea 962 957 643 275 0 40 Ethiopia 2,882 2,826 1,603 985 0 239 Fiji 379 360 109 101 0 150 Gabon 2,367 2,247 381 791 946 129 Gambia, The 453 420 287 121 0 12 Georgia 3,380 2,562 1,190 530 500 1 Ghana 4,970 3,452 1,862 238 750 562 Grenada 519 446 149 85 210 2 Guatemala 15,889 13,738 3,054 366 955 0 Guinea 3,092 2,830 1,848 951 0 30 Guinea-Bissau 1,157 1,004 508 496 0 0 Guyana 816 663 381 273 0 9 Haiti 1,935 1,830 1,329 452 0 50 Honduras 3,430 2,880 1,428 826 0 36 India 230,611 185,365 40,429 23,042 6,451 8,812 Indonesia 150,851 124,286 19,962 41,967 10,450 4,525 Iran, Islamic Rep. 13,937 8,902 761 1,420 0 6,721 Jamaica 10,034 8,763 1,325 661 4,256 357 Jordan 6,577 5,123 1,956 2,818 184 166 16 S U M M A R Y T A B L E S Private non- Private non- guaranteed, guaranteed, commercial banks IBRD IDA Use of IMF Short-term bonds and other (memo) (memo) credit external debt 0 0 0 444 87 17 Afghanistan 0 106 17 817 80 779 Albania 0 1,161 11 0 0 1,304 Algeria 0 0 0 369 0 2,419 Angola 7,921 16,431 5,069 0 0 37,523 Argentina 0 1,373 5 1,025 135 465 Armenia 0 327 78 698 79 1,169 Azerbaijan 0 0 0 10,613 686 1,986 Bangladesh 19 1,569 42 0 0 6,959 Belarus 0 10 21 0 0 7 Belize 0 0 0 255 22 38 Benin 0 0 0 94 0 0 Bhutan 0 2,969 0 281 0 166 Bolivia 0 4,398 443 1,077 0 912 Bosnia and Herzegovina 0 0 0 5 0 43 Botswana 37,855 107,483 10,671 0 0 36,652 Brazil 522 14,367 1,207 0 0 18,493 Bulgaria 0 0 0 626 54 110 Burkina Faso 0 0 0 819 117 19 Burundi 0 0 0 545 0 323 Cambodia 0 636 35 225 24 5 Cameroon 0 0 0 284 12 1 Cape Verde 0 0 0 390 63 71 Central African Republic 0 0 0 905 41 4 Chad 5,585 34,964 200 2 0 14,910 Chile 5,970 95,804 12,464 9,786 0 187,188 China 809 11,003 5,438 2 0 5,684 Colombia 0 0 0 122 5 6 Comoros 0 0 0 2,437 654 673 Congo, Dem. Rep. 0 0 0 299 38 363 Congo, Rep. 0 1,904 41 0 0 3,864 Costa Rica 0 414 117 1,797 188 1,344 Côte d'Ivoire 0 0 0 152 17 1 Djibouti 0 0 2 26 15 83 Dominica 843 1 449 9 492 2,003 Dominican Republic 0 5,592 612 12 0 1,664 Ecuador 750 829 1,255 1,444 0 2,519 Egypt, Arab Rep. 0 3,316 400 9 0 1,052 El Salvador 0 0 0 473 0 5 Eritrea 0 0 0 859 0 56 Ethiopia 0 0 1 0 0 19 Fiji 0 0 20 0 0 120 Gabon 0 0 0 62 12 20 Gambia, The 0 341 0 989 460 357 Georgia 39 0 0 1,330 162 1,356 Ghana 0 0 12 37 13 60 Grenada 55 9,309 806 0 0 2,151 Guatemala 0 0 0 1,288 71 192 Guinea 0 0 0 309 9 144 Guinea-Bissau 0 0 0 10 57 96 Guyana 0 0 0 507 105 0 Haiti 0 590 0 449 31 518 Honduras 14,763 91,869 7,429 25,419 0 45,246 India 9,895 37,488 6,968 2,006 0 26,565 Indonesia 0 0 761 0 0 5,035 Iran, Islamic Rep. 2,130 34 327 0 0 1,271 Jamaica 0 0 835 37 28 1,426 Jordan (table continues on next page) 17 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 2. Composition of Total External Debt Stocks for 2008 (continued) (US$ millions) Public and Public and Public and Public and publicly Total Total publicly publicly publicly guaranteed, external long-term guaranteed, guaranteed, guaranteed, commercial banks debt stocks external debt multilateral bilateral bonds and other Kazakhstan 107,595 96,958 748 1,164 0 3 Kenya 7,441 6,268 3,688 2,278 0 302 Kyrgyz Republic 2,464 2,269 1,290 672 0 0 Lao PDR 4,944 4,923 1,955 755 0 0 Latvia 42,108 27,192 734 30 1,426 67 Lebanon 24,395 21,031 1,044 1,138 17,490 889 Lesotho 682 653 600 40 0 13 Liberia 3,484 1,237 161 881 0 195 Lithuania 31,719 23,550 188 2 5,114 24 Macedonia, FYR 4,678 2,950 1,015 230 209 84 Madagascar 2,086 1,728 1,377 338 0 7 Malawi 963 838 485 343 0 11 Malaysia 66,182 43,382 399 4,767 11,767 4,532 Maldives 987 499 280 78 0 140 Mali 2,190 2,150 1,161 983 0 5 Mauritania 1,960 1,643 922 707 0 14 Mauritius 626 626 264 223 0 90 Mexico 203,984 179,557 10,653 1,769 34,685 66,848 Moldova 3,787 2,307 495 286 6 4 Mongolia 1,721 1,701 963 601 75 14 Montenegro 1,490 888 567 287 0 25 Morocco 20,825 19,194 8,576 5,965 0 1,996 Mozambique 3,432 2,788 1,661 1,120 0 7 Myanmar 7,210 5,413 1,311 3,286 0 817 Nepal 3,685 3,551 3,187 360 0 4 Nicaragua 3,558 2,727 1,250 1,005 0 4 Niger 966 896 666 216 0 0 Nigeria 11,221 3,765 2,989 323 0 278 Pakistan 49,337 43,591 22,058 14,490 2,650 161 Panama 10,722 10,722 1,387 192 7,896 186 Papua New Guinea 1,418 1,409 721 299 0 44 Paraguay 4,163 3,017 1,297 645 0 323 Peru 28,555 22,408 7,939 4,336 6,879 176 Philippines 64,856 57,855 7,414 14,191 16,014 1,440 Poland 218,022 153,118 1,776 1,121 40,529 0 Romania 104,943 73,827 7,295 710 2,714 4,268 Russian Federation 402,453 347,799 4,477 3,894 66,719 28,156 Rwanda 679 645 556 90 0 0 Samoa 257 257 221 36 0 0 São Tomé and Principe 178 155 41 114 0 0 Senegal 2,861 2,600 1,571 842 0 6 Serbia 30,918 26,795 4,762 2,538 0 1,175 Seychelles 1,505 654 53 150 305 146 Sierra Leone 389 327 263 63 0 0 Solomon Islands 165 162 113 23 0 0 Somalia 2,949 1,983 803 1,143 0 37 South Africa 41,943 24,006 259 0 7,429 5,486 Sri Lanka 15,154 12,899 5,559 5,695 500 869 St. Kitts and Nevis 258 257 112 34 19 92 St. Lucia 831 317 195 25 44 53 St. Vincent and the Grenadines 207 206 112 24 0 71 Sudan 19,633 12,599 3,120 7,047 0 2,431 Swaziland 362 348 233 99 0 16 Tajikistan 1,466 1,410 724 633 0 0 Tanzania 5,938 4,599 2,677 945 0 89 Thailand 64,798 40,588 271 7,130 1,944 2,822 Togo 1,573 1,433 859 574 0 0 Tonga 90 90 72 18 0 0 Tunisia 20,776 16,449 5,921 3,282 4,050 3,196 18 S U M M A R Y T A B L E S Private non- Private non- guaranteed, guaranteed, commercial banks IBRD IDA Use of IMF Short-term bonds and other (memo) (memo) credit external debt 24,125 70,917 463 0 0 10,637 Kazakhstan 0 0 0 3,050 252 921 Kenya 0 307 0 655 165 30 Kyrgyz Republic 0 2,213 0 685 21 0 Lao PDR 278 24,656 61 0 825 14,091 Latvia 470 0 368 0 117 3,246 Lebanon 0 0 3 303 30 0 Lesotho 0 0 0 72 858 1,389 Liberia 1,030 17,192 27 0 0 8,169 Lithuania 0 1,412 230 361 0 1,729 Macedonia, FYR 0 6 0 1,066 99 258 Madagascar 0 0 0 188 125 0 Malawi 6,568 15,350 85 0 0 22,800 Malaysia 0 0 0 79 4 484 Maldives 0 0 0 534 40 0 Mali 0 0 0 243 16 301 Mauritania 0 49 103 9 0 0 Mauritius 19,958 45,644 5,867 0 0 24,427 Mexico 0 1,516 129 311 166 1,314 Moldova 0 48 0 338 20 0 Mongolia 0 9 269 71 0 602 Montenegro 0 2,656 2,540 16 0 1,631 Morocco 0 0 0 1,149 15 629 Mozambique 0 0 0 770 0 1,797 Myanmar 0 0 0 1,507 77 57 Nepal 0 468 0 347 111 720 Nicaragua 0 13 0 248 51 19 Niger 175 0 211 2,243 0 7,456 Nigeria 850 3,382 1,946 9,053 4,352 1,395 Pakistan 1,061 0 271 0 0 0 Panama 0 345 158 71 0 9 Papua New Guinea 0 751 214 16 0 1,146 Paraguay 1,269 1,809 2,712 0 0 6,147 Peru 1,314 17,483 2,533 187 0 7,001 Philippines 1,960 107,731 1,776 0 0 64,904 Poland 0 58,839 2,572 0 0 31,116 Romania 78,078 166,475 3,851 0 0 54,655 Russian Federation 0 0 0 242 11 23 Rwanda 0 0 0 79 0 0 Samoa 0 0 0 13 4 19 São Tomé and Principe 0 180 0 791 64 197 Senegal 165 18,155 2,276 655 0 4,123 Serbia 0 0 0 0 9 842 Seychelles 0 0 0 108 53 9 Sierra Leone 0 26 0 44 0 3 Solomon Islands 0 0 0 446 173 793 Somalia 6,017 4,816 26 0 0 17,937 South Africa 100 175 0 2,381 169 2,087 Sri Lanka 0 0 13 1 0 1 St. Kitts and Nevis 0 0 18 49 0 514 St. Lucia 0 0 3 19 0 1 St. Vincent and the Grenadines 0 0 0 1,300 406 6,628 Sudan 0 0 14 3 0 15 Swaziland 0 53 0 365 15 41 Tajikistan 0 889 0 1,971 17 1,322 Tanzania 3,181 25,240 65 62 0 24,210 Thailand 0 0 0 604 48 92 Togo 0 0 0 22 0 0 Tonga 0 0 1,353 22 0 4,327 Tunisia (table continues on next page) 19 G L O B A L D E V E L O P M E N T F I N A N C E 2 0 1 0 Table 2. Composition of Total External Debt Stocks for 2008 (continued) (US$ millions) Public and Public and Public and Public and publicly Total Total publicly publicly publicly guaranteed, external long-term guaranteed, guaranteed, guaranteed, commercial banks debt stocks external debt multilateral bilateral bonds and other Turkey 277,277 218,038 12,656 5,591 37,593 22,104 Turkmenistan 638 587 20 480 0 87 Uganda 2,249 1,781 1,563 193 0 25 Ukraine 92,479 67,374 3,307 1,698 3,918 1,802 Uruguay 11,049 10,232 2,932 125 6,919 69 Uzbekistan 3,995 3,784 931 1,744 0 480 Vanuatu 138 102 71 31 0 0 Venezuela, RB 50,229 33,235 2,753 837 23,353 2,982 Vietnam 26,158 21,618 7,977 11,741 1,194 706 Yemen, Rep. 6,258 5,679 3,036 2,637 0 6 Zambia 2,986 2,215 828 225 0 114 Zimbabwe 5,199 3,696 1,605 1,631 0 447 All developing countries 3,718,539 2,848,437 387,846 309,287 456,394 226,134 East Asia & Pacific 771,628 497,096 73,633 119,891 55,369 27,280 Europe & Central Asia 1,398,989 1,091,913 49,969 28,433 160,345 59,875 Latin America & Caribbean 894,367 735,073 95,431 28,454 197,743 90,184 Middle East & North Africa 131,545 111,315 28,676 38,530 23,907 14,335 South Asia 326,311 269,665 90,090 48,314 9,601 10,521 Sub-Saharan Africa 195,699 143,375 50,047 45,664 9,429 23,939 Low income 168,325 143,169 78,503 52,155 1,944 5,177 Middle income 3,550,214 2,705,268 309,343 257,132 454,450 220,957 20 S U M M A R Y T A B L E S Private non- Private non- guaranteed, guaranteed, commercial banks IBRD IDA Use of IMF Short-term bonds and other (memo) (memo) credit external debt 6,759 133,335 8,046 54 8,524 50,714 Turkey 0 1 14 0 0 51 Turkmenistan 0 0 0 1,004 9 458 Uganda 4,965 51,683 3,022 0 4,709 20,397 Ukraine 187 0 713 0 0 817 Uruguay 0 629 313 55 0 211 Uzbekistan 0 0 0 13 0 36 Vanuatu 3,310 0 0 0 0 16,994 Venezuela, RB 0 0 0 5074 121 4,419 Vietnam 0 0 0 2,113 95 483 Yemen, Rep. 0 1,049 0 371 96 676 Zambia 0 13 464 519 114 1,389 Zimbabwe 248,976 1,219,800 98,466 111,297 25,740 844,362 All developing countries 26,928 193,997 22,275 19,683 162 274,370 East Asia & Pacific 117,901 675,389 24,840 7,134 15,158 291,917 Europe & Central Asia 80,983 242,278 33,857 1,778 824 158,470 Latin America & Caribbean 1,220 4,646 7,123 3,784 258 19,972 Middle East & North Africa 15,713 95,426 9,376 49,589 5,374 51,271 South Asia 6,231 8,064 994 29,329 3,963 48,361 Sub-Saharan Africa 39 5,351 777 45,815 4,623 20,533 Low income 248,937 1,214,449 97,689 65,482 21,117 823,829 Middle income 21 Regional and income group aggregate tables 23 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 1,207,667 1,872,207 2,152,234 2,606,224 2,622,530 2,810,615 3,450,763 3,718,539 Long-term external debt 992,898 1,484,761 1,800,285 2,056,871 2,054,508 2,179,272 2,577,888 2,848,437 Public and publicly guaranteed 933,499 1,275,451 1,284,529 1,434,209 1,307,561 1,240,235 1,335,372 1,379,661 Private nonguaranteed 59,398 209,310 515,756 622,662 746,947 939,036 1,242,517 1,468,776 Use of IMF credit 34,135 59,881 58,266 96,044 49,179 19,859 15,540 25,740 Short-term external debt 180,634 327,614 293,684 453,309 518,843 611,484 857,334 844,362 interest arrears on long-term 46,126 42,189 29,440 48,512 28,418 26,227 27,124 26,888 Memorandum items Principal arrears on long-term 57,333 98,385 51,053 73,762 45,770 45,973 46,897 48,973 Long-term public sector debt 927,785 1,270,334 1,277,912 1,427,402 1,300,816 1,233,550 1,327,797 1,371,193 Long-term private sector debt 65,138 214,451 522,393 629,469 753,707 945,752 1,250,092 1,477,244 Public & publicly guaranteed commitments 96,086 140,587 138,308 136,873 165,514 138,284 194,415 174,737 External debt flows Disbursements 104,746 209,641 240,289 351,443 428,443 511,219 709,163 704,745 Long-term external debt 96,811 181,904 230,174 344,496 424,482 507,105 707,150 690,138 IMF purchases 7,935 27,783 10,114 6,946 3,961 4,113 2,013 14,607 Principal repayments 67,989 120,787 237,770 305,932 362,583 416,008 395,873 448,170 Long-term external debt 60,164 110,780 217,168 284,294 318,461 385,188 388,718 444,370 IMF repurchases 7,825 10,035 20,603 21,637 44,122 30,819 7,155 3,800 Net flows 60,924 143,981 -6,026 107,051 151,488 190,044 557,838 243,838 Long-term external debt 36,647 71,124 13,007 60,202 106,022 121,917 318,431 245,768 Short-term external debt 24,167 55,127 -8,545 61,540 85,628 94,833 244,547 -12,737 Interest payments 56,356 86,046 113,917 98,794 107,943 122,107 144,286 154,301 Long-term external debt 45,684 68,497 94,860 81,596 87,591 98,141 113,842 127,910 IMF charges 2,439 2,678 2,865 3,463 3,277 1,622 710 979 Short-term external debt 8,234 14,876 16,192 13,735 17,074 22,343 29,734 25,412 2. Other non-debt resource flows Foreign direct investment (net) 23,518 98,500 158,864 215,740 281,104 363,155 528,447 593,628 Portfolio equity flows 3,390 13,993 14,137 38,594 68,843 105,796 135,360 -57,148 Profit remittances on FDI 16,231 37,742 68,295 128,360 171,553 242,974 315,637 355,850 Grants (excluding technical coop.) 27,065 31,501 28,390 53,552 56,843 106,853 76,001 86,184 of which: Debt forgiveness grants .. .. 5,069 15,179 37,349 113,467 23,580 4,569 IDA grants .. .. .. 989 961 1,190 1,912 2,078 Memo: technical coop. grants 13,786 18,977 14,373 20,240 20,363 21,846 15,618 18,696 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 18.1 15.6 16.8 17.2 15.7 Japanese yen 11.2 12.9 11.9 10.7 10.0 10.1 9.3 11.0 Pound sterling 2.5 1.6 1.0 1.4 1.1 0.8 0.7 0.4 Swiss franc 1.8 1.1 0.5 0.7 0.7 0.7 0.8 0.9 U.S.dollars 44.4 47.7 62.3 61.1 64.5 63.9 64.6 64.8 4. Average terms of new commitments Official creditors Interest (%) 5.2 5.8 4.7 2.6 3.6 3.9 3.9 3.0 Maturity (years) 23.5 19.3 20.5 22.4 22.1 22.7 22.7 23.8 Grace period (years) 6.7 5.3 5.1 6.0 5.7 6.1 6.3 6.7 Private creditors Interest (%) 8.6 6.5 8.0 5.7 6.0 6.0 6.3 6.0 Maturity (years) 11.1 7.4 11.9 10.7 11.7 11.9 10.4 11.8 Grace period (years) 4.0 3.4 8.9 8.7 9.5 9.5 8.1 8.3 5. Major economic aggregates Gross national income (GNI) 3,577,893 4,918,920 5,780,282 8,129,403 9,659,705 11,393,541 14,007,539 16,790,419 Exports of goods, services & income 692,226 1,213,072 1,760,759 2,888,874 3,559,290 4,353,388 5,282,577 6,332,490 Worker remit. & comp. of employees 30,436 55,771 82,481 161,847 193,004 228,959 281,781 326,711 Imports of goods & services 734,488 1,332,081 1,761,622 2,775,304 3,334,113 4,007,138 4,916,398 6,015,029 International reserves 182,111 453,910 669,868 1,610,191 2,003,776 2,647,254 3,747,779 4,024,851 6. Ratios External debt stocks to exports (%) 174.5 154.3 122.2 90.2 73.7 64.6 65.3 58.7 External debt stocks to GNI (%) 33.8 38.1 37.2 32.1 27.1 24.7 24.6 22.1 Debt service to exports (%) 18.0 17.1 20.0 14.0 13.2 12.4 10.2 9.5 Short-term to external debt stocks (%) 15.0 17.5 13.6 17.4 19.8 21.8 24.8 22.7 Multilateral to external debt stocks (%) 15.9 14.6 14.9 14.6 14.0 12.2 10.6 10.4 Reserves to external debt stocks (%) 15.1 24.2 31.1 61.8 76.4 94.2 108.6 108.2 Reserves to imports (months) 3.0 4.1 4.6 7.0 7.2 7.9 9.1 8.0 24 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 992,898 1,484,761 1,800,285 2,056,871 2,054,508 2,179,272 2,577,888 2,848,437 Public and publicly guaranteed 933,499 1,275,451 1,284,529 1,434,209 1,307,561 1,240,235 1,335,372 1,379,661 Official creditors 518,277 773,377 751,832 807,064 710,212 632,122 657,218 697,133 Multilateral 191,992 273,726 320,722 380,641 368,013 342,300 365,604 387,846 of which: IBRD 90,212 108,080 110,526 103,606 97,846 94,347 95,521 98,466 IDA 45,234 71,452 86,766 124,295 120,730 98,984 107,726 111,297 Bilateral 326,285 499,651 431,110 426,423 342,198 289,822 291,613 309,287 Private creditors 415,222 502,074 532,697 627,145 597,349 608,114 678,154 682,528 of which: Bonds 97,459 228,490 343,845 435,865 403,233 413,085 452,553 456,394 Commercial banks 215,134 146,819 120,989 140,204 150,111 156,228 191,847 195,653 Private nonguaranteed 59,398 209,310 515,756 622,662 746,947 939,036 1,242,517 1,468,776 of which: Bonds 347 51,018 92,954 123,066 156,168 196,493 260,467 248,976 Disbursements 96,811 181,904 230,174 344,496 424,482 507,105 707,150 690,138 Public and publicly guaranteed 79,584 128,015 130,047 141,004 153,154 141,187 182,547 177,214 Official creditors 44,555 64,015 50,821 46,302 44,375 51,995 56,267 68,373 Multilateral 25,572 30,378 32,833 32,712 32,681 38,282 41,651 47,786 of which: IBRD 13,140 12,755 13,318 10,444 9,433 12,129 10,501 13,692 IDA 4,330 5,474 5,219 7,747 7,119 6,771 7,358 6,864 Bilateral 18,983 33,637 17,988 13,590 11,694 13,713 14,617 20,587 Private creditors 35,030 64,000 79,226 94,702 108,780 89,192 126,280 108,841 of which: Bonds 3,915 22,286 54,797 59,710 64,738 55,575 66,752 61,714 Commercial banks 14,316 22,543 15,441 30,754 40,132 29,095 56,030 43,389 Private nonguaranteed 17,227 53,888 100,127 203,492 271,328 365,918 524,602 512,924 of which: Bonds 291 14,063 11,619 33,419 49,190 53,792 86,668 25,287 Principal repayments 60,164 110,780 217,168 284,294 318,461 385,188 388,718 444,370 Public and publicly guaranteed 52,980 84,622 113,607 124,829 151,428 194,194 127,401 145,855 Official creditors 20,410 41,486 45,704 57,774 76,077 98,207 53,109 51,105 Multilateral 10,677 18,549 21,879 30,051 25,756 36,065 25,791 26,209 of which: IBRD 7,803 11,370 9,603 15,131 12,301 17,368 11,127 11,112 IDA 246 542 947 1,522 1,618 2,061 1,932 2,373 Bilateral 9,733 22,937 23,824 27,723 50,321 62,142 27,317 24,896 Private creditors 32,570 43,136 67,903 67,055 75,351 95,987 74,293 94,750 of which: Bonds 4,270 11,091 32,679 33,201 41,614 59,167 40,118 50,913 Commercial banks 14,611 15,281 23,274 25,552 24,997 27,372 27,241 36,484 Private nonguaranteed 7,184 26,158 103,561 159,466 167,033 190,994 261,317 298,516 of which: Bonds 0 4,042 15,032 24,099 15,505 18,619 26,135 21,130 Interest payments 45,684 68,497 94,860 81,596 87,591 98,141 113,842 127,910 Public and publicly guaranteed 41,152 57,552 63,123 55,120 61,307 57,309 60,379 59,931 Official creditors 17,234 28,063 25,978 21,600 23,798 19,389 19,654 18,358 Multilateral 9,631 12,828 14,813 10,503 10,356 11,439 12,514 11,964 of which: IBRD 6,752 7,735 7,521 4,046 4,056 4,846 5,524 4,672 IDA 300 503 577 891 894 845 771 915 Bilateral 7,602 15,235 11,165 11,097 13,442 7,950 7,140 6,394 Private creditors 23,918 29,489 37,145 33,521 37,509 37,920 40,725 41,573 of which: Bonds 4,004 15,091 24,757 25,761 29,443 28,621 29,855 30,769 Commercial banks 14,607 7,842 8,771 5,765 6,445 7,723 9,014 9,017 Private nonguaranteed 4,532 10,945 31,737 26,476 26,284 40,832 53,463 67,978 of which: Bonds 3 3,172 7,969 8,474 9,421 14,718 17,231 17,055 8. Debt stock-flow reconciliation Total change in external debt stocks 90,712 171,565 -64,257 156,741 16,306 187,002 640,148 .. 750 Non-debt flows (bill US$) Net flows on external debt 60,924 143,981 200 -6,026 107,051 Debt 151,488 ratios190,044 (%) 557,838 317,618 Cross-currency valuation 40,348 4,372 -50,063 36,071 -77,057 -3,267 43,381 .. 9. Debt restructurings Total amount rescheduled 77,748 30,711 60,760 150 7,652 31,175 4,801 3,309 .. Total amount forgiven 500 12,603 2,244 840 4,949 9,774 16,032 3,227 .. Debt buyback 3,583 162 17,016 1,110 736 5,450 6,018 .. 100 250 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 25 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 233,949 455,541 496,904 586,342 633,029 667,717 749,988 771,628 Long-term external debt 194,501 345,390 418,844 405,480 418,891 434,407 459,832 497,096 Public and publicly guaranteed 172,960 255,407 271,425 269,719 259,616 259,185 258,299 276,172 Private nonguaranteed 21,541 89,982 147,419 135,760 159,275 175,221 201,533 220,924 Use of IMF credit 2,085 1,337 16,452 10,964 8,545 239 215 162 Short-term external debt 37,363 108,814 61,609 169,899 205,593 233,072 289,941 274,370 interest arrears on long-term 1,885 2,952 5,334 8,467 1,048 1,020 1,099 1,112 Memorandum items Principal arrears on long-term 2,965 10,943 7,415 15,929 5,627 5,669 5,916 5,911 Long-term public sector debt 172,422 254,018 271,045 268,782 258,202 257,759 256,934 274,877 Long-term private sector debt 22,079 91,371 147,799 136,698 160,689 176,647 202,898 222,219 Public & publicly guaranteed commitments 23,297 46,438 26,963 25,039 24,895 18,088 17,635 24,038 External debt flows Disbursements 29,472 59,114 41,430 62,463 75,386 75,574 89,296 88,187 Long-term external debt 29,413 58,912 39,937 62,463 75,386 75,574 89,296 88,187 IMF purchases 58 203 1,493 0 0 0 0 0 Principal repayments 18,644 32,240 47,885 58,639 64,490 71,019 66,511 72,961 Long-term external debt 17,358 31,850 47,617 57,003 62,893 62,539 66,476 72,913 IMF repurchases 1,286 390 267 1,636 1,597 8,479 35 49 Net flows 18,614 54,086 -17,257 37,299 54,008 32,063 79,576 -359 Long-term external debt 12,055 27,062 -7,681 5,459 12,493 13,035 22,820 15,274 Short-term external debt 7,786 27,212 -10,802 33,476 43,113 27,507 56,790 -15,584 Interest payments 12,501 20,622 25,181 19,970 18,711 22,761 26,575 23,988 Long-term external debt 10,147 15,539 20,379 15,014 12,930 14,090 17,287 16,679 IMF charges 245 69 793 285 336 308 3 1 Short-term external debt 2,109 5,014 4,010 4,670 5,445 8,362 9,285 7,308 2. Other non-debt resource flows Foreign direct investment (net) 10,512 50,798 45,166 70,416 104,358 105,655 177,017 187,104 Portfolio equity flows 440 3,746 6,589 19,313 25,683 56,193 35,090 -8,139 Profit remittances on FDI 5,159 15,885 31,681 40,619 47,096 55,733 72,941 81,543 of which: Debt forgiveness grants .. .. 132 10 25 367 57 26 IDA grants .. .. .. 1 16 30 51 68 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.7 8.4 8.9 9.1 7.4 Japanese yen 29.1 28.2 28.3 28.3 26.6 25.4 24.4 27.3 Pound sterling 1.0 0.4 0.5 0.7 0.8 0.7 0.7 0.4 Swiss franc 1.0 0.5 0.2 0.3 0.3 0.2 0.2 0.2 U.S.dollars 23.6 36.7 55.9 54.3 56.8 57.9 58.6 58.4 4. Average terms of new commitments Official creditors Interest (%) 4.9 5.3 3.8 2.2 3.1 4.2 3.6 2.7 Maturity (years) 24.6 22.0 26.9 25.0 25.1 24.7 24.3 24.1 Grace period (years) 7.1 5.6 6.3 6.6 6.6 6.5 6.7 6.9 Private creditors Interest (%) 8.3 6.4 6.6 5.2 5.6 6.3 5.2 5.5 Maturity (years) 14.1 9.6 13.0 8.7 10.4 14.5 15.5 14.1 Grace period (years) 3.5 4.4 4.5 6.8 8.1 8.9 11.6 9.5 5. Major economic aggregates Gross national income (GNI) 659,141 1,283,954 1,684,051 2,624,712 3,024,110 3,593,355 4,491,214 5,614,103 Exports of goods, services & income 177,001 417,577 643,148 1,132,390 1,401,937 1,730,647 2,137,269 2,498,605 Worker remit. & comp. of employees 3,258 9,694 16,675 39,157 46,688 52,956 65,344 78,224 Imports of goods & services 182,910 452,272 606,342 1,064,740 1,249,961 1,459,137 1,745,366 2,089,088 International reserves 71,348 167,801 283,042 802,615 1,020,347 1,315,680 1,856,736 2,124,222 6. Ratios External debt stocks to exports (%) 132.2 109.1 77.3 51.8 45.2 38.6 35.1 30.9 External debt stocks to GNI (%) 35.5 35.5 29.5 22.3 20.9 18.6 16.7 13.7 Debt service to exports (%) 17.6 12.7 11.4 6.9 5.9 5.4 4.4 3.9 Short-term to external debt stocks (%) 16.0 23.9 12.4 29.0 32.5 34.9 38.7 35.6 Multilateral to external debt stocks (%) 15.0 11.8 13.2 11.3 10.2 10.0 9.3 9.5 Reserves to external debt stocks (%) 30.5 36.8 57.0 136.9 161.2 197.0 247.6 275.3 Reserves to imports (months) 4.7 4.5 5.6 9.0 9.8 10.8 12.8 12.2 26 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 194,501 345,390 418,844 405,480 418,891 434,407 459,832 497,096 Public and publicly guaranteed 172,960 255,407 271,425 269,719 259,616 259,185 258,299 276,172 Official creditors 104,752 159,603 171,462 184,116 171,209 173,440 177,139 193,524 Multilateral 34,976 53,615 65,765 66,426 64,377 66,453 69,662 73,633 of which: IBRD 20,176 27,912 30,476 24,686 23,331 22,550 21,693 22,275 IDA 5,130 9,692 12,520 17,355 16,498 17,683 19,086 19,683 Bilateral 69,775 105,988 105,697 117,690 106,832 106,987 107,477 119,891 Private creditors 68,209 95,804 99,964 85,603 88,406 85,745 81,160 82,648 of which: Bonds 11,814 23,690 35,943 45,723 52,216 54,720 55,377 55,369 Commercial banks 35,219 39,894 33,257 18,529 17,347 14,157 12,386 14,944 Private nonguaranteed 21,541 89,982 147,419 135,760 159,275 175,221 201,533 220,924 of which: Bonds 160 15,574 22,077 20,432 24,832 28,198 28,666 26,928 Disbursements 29,413 58,912 39,937 62,463 75,386 75,574 89,296 88,187 Public and publicly guaranteed 19,586 38,015 26,490 25,307 25,551 24,268 17,989 22,422 Official creditors 10,138 17,659 15,620 9,525 9,057 11,265 10,458 12,656 Multilateral 4,711 6,135 6,942 4,316 5,145 5,950 6,709 7,774 of which: IBRD 2,532 3,168 3,245 1,861 1,825 2,012 2,347 3,200 IDA 604 934 700 774 627 754 1,058 1,152 Bilateral 5,427 11,524 8,678 5,209 3,912 5,315 3,749 4,881 Private creditors 9,448 20,356 10,870 15,782 16,494 13,003 7,531 9,766 of which: Bonds 852 4,449 4,539 11,387 11,523 8,756 4,295 4,889 Commercial banks 4,096 8,785 2,535 3,990 3,334 1,487 1,136 3,343 Private nonguaranteed 9,827 20,897 13,446 37,156 49,834 51,306 71,307 65,766 of which: Bonds 120 5,731 1,106 4,859 7,148 5,973 4,198 0 Principal repayments 17,358 31,850 47,617 57,003 62,893 62,539 66,476 72,913 Public and publicly guaranteed 14,807 21,665 23,410 25,897 23,521 24,683 20,961 22,547 Official creditors 4,266 8,357 10,243 13,159 10,352 12,376 13,603 13,221 Multilateral 2,032 3,094 4,062 6,055 4,610 4,676 4,970 4,776 of which: IBRD 1,462 2,152 2,006 4,307 2,798 2,891 3,336 2,775 IDA 19 50 107 248 286 324 368 413 Bilateral 2,234 5,262 6,182 7,104 5,743 7,700 8,633 8,445 Private creditors 10,541 13,308 13,166 12,738 13,168 12,307 7,358 9,326 of which: Bonds 1,925 1,854 1,211 4,092 4,303 5,334 2,355 3,817 Commercial banks 5,395 5,320 7,160 6,122 5,193 2,579 2,512 1,723 Private nonguaranteed 2,551 10,185 24,208 31,107 39,372 37,856 45,515 50,366 of which: Bonds 0 120 5,168 2,554 2,308 3,415 3,852 1,543 Interest payments 10,147 15,539 20,379 15,014 12,930 14,090 17,287 16,679 Public and publicly guaranteed 8,864 12,046 12,839 10,573 8,589 9,063 10,371 9,943 Official creditors 3,673 6,284 7,238 5,912 4,021 4,377 5,018 4,596 Multilateral 2,146 3,051 3,834 2,504 2,018 2,245 2,493 2,284 of which: IBRD 1,521 1,999 2,146 1,204 1,028 1,168 1,298 1,085 IDA 34 69 87 129 133 131 134 146 Bilateral 1,527 3,232 3,404 3,408 2,003 2,132 2,525 2,312 Private creditors 5,191 5,763 5,601 4,661 4,568 4,686 5,353 5,346 of which: Bonds 923 1,238 2,300 3,016 3,232 3,624 3,950 4,027 Commercial banks 2,795 2,462 1,921 848 832 581 673 551 Private nonguaranteed 1,283 3,493 7,539 4,441 4,342 5,027 6,917 6,737 of which: Bonds 2 503 1,942 1,269 1,772 2,018 2,225 2,018 8. Debt stock-flow reconciliation Total change in external debt stocks 27,547 71,931 -42,082 48,239 46,686 34,689 82,271 .. 250 Non-debt flows (bill US$) Net flows on external debt 18,614 54,086 300 -17,257 37,299 Debt 54,008 ratios (%) 32,063 79,576 48,447 Cross-currency valuation 8,551 -1,772 -13,909 5,482 -15,816 3,688 7,513 .. Debt 9. 200 restructurings 250 Total amount rescheduled 1,478 314 2,468 0 2,809 3 1 .. Total amount forgiven 0 44 200 5 5 8 35 6 .. Debt buyback 150 721 0 0 0 0 0 0 .. 150 100 100 50 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 27 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 128,610 290,169 432,673 639,343 712,007 893,064 1,242,404 1,398,989 Long-term external debt 106,050 241,001 341,723 484,338 547,741 683,024 932,772 1,091,913 Public and publicly guaranteed 101,130 229,733 248,140 274,770 246,479 244,560 298,237 298,622 Private nonguaranteed 4,921 11,268 93,583 209,568 301,262 438,464 634,535 793,291 Use of IMF credit 975 15,788 21,773 30,735 18,810 13,088 8,550 15,158 Short-term external debt 21,584 33,428 69,176 124,269 145,456 196,951 301,082 291,917 interest arrears on long-term 8,541 7,954 8,626 4,084 4,098 1,540 1,588 1,768 Memorandum items Principal arrears on long-term 6,324 28,567 14,080 3,583 3,545 2,018 2,136 2,950 Long-term public sector debt 100,371 229,234 247,597 274,033 245,804 243,936 297,165 297,185 Long-term private sector debt 5,679 11,767 94,126 210,305 301,937 439,089 635,607 794,728 Public & publicly guaranteed commitments 7,796 15,206 22,270 25,572 42,530 37,676 71,648 53,847 External debt flows Disbursements 8,760 24,262 51,644 134,227 192,677 240,653 360,669 377,645 Long-term external debt 8,186 16,285 47,275 132,585 189,888 237,572 359,425 368,153 IMF purchases 575 8,024 4,369 1,642 2,789 3,081 1,245 9,492 Principal repayments 8,593 15,016 38,990 91,772 128,073 138,753 161,866 214,517 Long-term external debt 8,190 12,998 34,072 84,238 115,488 129,864 155,586 212,029 IMF repurchases 402 2,046 4,917 7,533 12,585 8,889 6,280 2,488 Net flows 3,682 14,553 20,354 62,109 85,777 155,952 302,481 153,783 Long-term external debt -5 3,286 13,203 48,346 74,400 107,708 203,839 156,124 Short-term external debt 3,514 5,307 7,700 19,653 21,172 54,053 103,677 -9,344 Interest payments 5,967 11,109 19,247 24,677 29,576 37,220 50,446 64,387 Long-term external debt 5,125 9,299 14,874 19,740 23,357 29,795 39,617 54,191 IMF charges 93 605 1,064 1,201 1,125 905 623 429 Short-term external debt 749 1,211 3,308 3,736 5,094 6,520 10,207 9,768 2. Other non-debt resource flows Foreign direct investment (net) 2,617 9,371 18,695 55,283 61,592 113,766 156,759 173,617 Portfolio equity flows 89 461 1,311 3,469 8,013 10,173 26,544 -14,613 Profit remittances on FDI 181 1,663 3,617 29,093 42,209 69,196 95,257 119,935 of which: Debt forgiveness grants .. .. 594 1,723 929 6,186 93 10 IDA grants .. .. .. 2 16 36 57 49 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 31.6 27.0 30.1 28.5 28.9 Japanese yen 6.6 7.4 5.1 3.8 3.9 4.1 3.6 4.6 Pound sterling 1.8 1.1 0.7 0.9 0.4 0.5 0.4 0.3 Swiss franc 6.7 2.5 0.5 0.7 1.7 1.8 2.2 2.9 U.S.dollars 34.2 47.2 61.8 58.7 63.5 60.3 63.3 62.0 4. Average terms of new commitments Official creditors Interest (%) 7.2 5.7 5.7 3.1 2.7 3.9 4.3 4.3 Maturity (years) 17.0 17.0 17.6 18.4 22.8 18.4 18.4 20.2 Grace period (years) 6.3 5.4 5.3 6.1 6.4 5.9 6.1 7.2 Private creditors Interest (%) 9.2 6.6 8.6 5.4 4.8 5.6 5.8 5.7 Maturity (years) 6.2 5.9 10.2 9.9 10.9 8.1 6.9 7.9 Grace period (years) 3.1 2.6 7.6 8.3 9.5 6.8 5.8 6.1 5. Major economic aggregates Gross national income (GNI) 992,408 893,713 867,307 1,564,788 1,960,753 2,359,456 3,036,467 3,752,170 Exports of goods, services & income .. 246,540 319,319 605,544 756,265 937,263 1,168,733 1,499,381 Worker remit. & comp. of employees 3,246 7,206 12,143 20,955 30,089 37,341 50,777 57,801 Imports of goods & services .. 258,510 309,700 609,532 744,525 951,064 1,252,205 1,578,551 International reserves .. 58,197 95,560 263,463 356,478 536,350 780,048 719,007 6. Ratios External debt stocks to exports (%) .. 117.7 135.5 105.6 94.1 95.3 106.3 93.3 External debt stocks to GNI (%) 13.0 32.5 49.9 40.9 36.3 37.9 40.9 37.3 Debt service to exports (%) .. 10.6 18.2 19.2 20.8 18.8 18.2 18.6 Short-term to external debt stocks (%) 16.8 11.5 16.0 19.4 20.4 22.1 24.2 20.9 Multilateral to external debt stocks (%) 10.4 7.0 7.3 6.6 5.6 4.8 3.8 3.6 Reserves to external debt stocks (%) .. 20.1 22.1 41.2 50.1 60.1 62.8 51.4 Reserves to imports (months) .. 2.7 3.7 5.2 5.7 6.8 7.5 5.5 28 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 106,050 241,001 341,723 484,338 547,741 683,024 932,772 1,091,913 Public and publicly guaranteed 101,130 229,733 248,140 274,770 246,479 244,560 298,237 298,622 Official creditors 55,451 130,424 138,672 132,023 95,423 73,159 76,054 78,402 Multilateral 13,421 20,440 31,727 41,920 39,572 42,852 46,945 49,969 of which: IBRD 8,759 12,975 21,297 25,478 23,270 24,175 24,557 24,840 IDA 157 669 2,667 5,525 5,517 6,188 6,862 7,134 Bilateral 42,030 109,984 106,945 90,103 55,851 30,306 29,109 28,433 Private creditors 45,679 99,309 109,468 142,747 151,056 171,401 222,183 220,220 of which: Bonds 5,304 29,401 74,386 102,694 106,273 121,844 151,069 160,345 Commercial banks 35,572 36,079 25,231 33,077 39,637 45,108 67,788 57,151 Private nonguaranteed 4,921 11,268 93,583 209,568 301,262 438,464 634,535 793,291 of which: Bonds 16 149 6,796 28,996 48,070 74,195 111,344 117,901 Disbursements 8,186 16,285 47,275 132,585 189,888 237,572 359,425 368,153 Public and publicly guaranteed 6,425 13,657 22,183 25,924 38,260 34,946 69,389 45,350 Official creditors 2,593 5,572 7,296 7,239 5,655 6,766 8,895 11,466 Multilateral 1,458 3,628 4,748 5,651 4,496 5,174 5,838 7,712 of which: IBRD 950 2,376 3,004 2,773 2,069 2,673 2,155 2,909 IDA 0 370 351 725 417 412 468 423 Bilateral 1,135 1,945 2,548 1,588 1,159 1,592 3,057 3,754 Private creditors 3,831 8,084 14,886 18,685 32,605 28,180 60,494 33,884 of which: Bonds 708 2,669 8,461 13,040 19,420 17,668 30,964 22,579 Commercial banks 2,387 1,932 5,344 5,028 12,965 10,399 29,393 11,180 Private nonguaranteed 1,761 2,628 25,092 106,661 151,628 202,626 290,035 322,803 of which: Bonds 0 0 1,375 14,574 21,619 25,562 42,574 16,253 Principal repayments 8,190 12,998 34,072 84,238 115,488 129,864 155,586 212,029 Public and publicly guaranteed 6,693 11,551 15,053 24,223 47,162 47,464 25,800 40,532 Official creditors 2,697 3,984 6,611 11,727 31,945 33,574 9,317 9,569 Multilateral 1,315 2,146 2,478 4,464 4,266 3,959 4,040 4,132 of which: IBRD 1,026 919 1,161 3,145 3,103 2,835 2,672 2,637 IDA 4 6 6 13 23 38 56 75 Bilateral 1,382 1,838 4,133 7,263 27,679 29,614 5,277 5,437 Private creditors 3,997 7,567 8,442 12,496 15,217 13,890 16,483 30,964 of which: Bonds 47 2,765 3,466 7,489 10,660 6,830 7,346 10,679 Commercial banks 2,736 2,020 2,686 3,121 3,043 6,085 7,942 19,543 Private nonguaranteed 1,497 1,447 19,019 60,015 68,326 82,400 129,786 171,497 of which: Bonds 0 0 930 1,037 2,231 1,776 7,445 8,824 Interest payments 5,125 9,299 14,874 19,740 23,357 29,795 39,617 54,191 Public and publicly guaranteed 4,683 8,868 10,131 12,958 13,375 13,971 14,370 16,361 Official creditors 1,897 4,311 3,657 4,369 4,303 3,695 2,708 2,733 Multilateral 980 1,176 1,690 1,221 1,482 1,651 1,947 1,959 of which: IBRD 703 724 1,202 796 908 1,135 1,306 1,179 IDA 1 3 19 42 45 47 50 54 Bilateral 917 3,135 1,968 3,148 2,822 2,045 761 773 Private creditors 2,786 4,557 6,473 8,589 9,072 10,275 11,662 13,629 of which: Bonds 398 1,994 4,672 6,876 7,237 7,678 8,772 10,243 Commercial banks 2,069 1,449 1,286 1,377 1,541 2,347 2,672 3,204 Private nonguaranteed 441 431 4,743 6,781 9,982 15,825 25,246 37,829 of which: Bonds 1 13 505 1,336 2,859 4,780 7,252 8,107 8. Debt stock-flow reconciliation Total change in external debt stocks 13,652 15,554 9,764 81,719 72,665 180,674 349,341 .. 200 Non-debt flows (bill US$) Net flows on external debt 3,682 14,553 200 20,354 62,109 Debt 85,777 ratios155,952 (%) 302,481 185,543 Cross-currency valuation 5,808 5,746 -8,252 7,824 -16,385 9,218 11,647 .. 9. Debt restructurings Total amount rescheduled 150 3,559 10,047 29,177 150 3,189 596 1,357 39 .. Total amount forgiven 232 0 12 24 109 105 26 .. Debt buyback 882 30 943 0 0 0 0 .. 100 100 50 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 29 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 422,614 598,197 733,397 801,914 735,656 731,225 839,148 894,367 Long-term external debt 333,139 449,176 613,717 662,418 619,451 624,744 683,915 735,073 Public and publicly guaranteed 308,394 361,873 371,995 452,625 405,606 388,696 398,343 411,812 Private nonguaranteed 24,745 87,303 241,722 209,793 213,845 236,049 285,572 323,261 Use of IMF credit 17,968 26,632 8,846 43,307 13,122 737 804 824 Short-term external debt 71,507 122,389 110,834 96,189 103,084 105,744 154,429 158,470 interest arrears on long-term 23,742 9,836 1,542 17,738 8,900 8,320 9,756 10,360 Memorandum items Principal arrears on long-term 22,929 14,770 2,660 27,014 12,361 13,148 15,365 17,757 Long-term public sector debt 305,316 360,064 369,146 450,172 403,376 386,599 396,195 409,112 Long-term private sector debt 27,848 89,137 244,590 212,246 216,090 238,176 287,720 325,961 Public & publicly guaranteed commitments 24,928 49,539 57,809 47,048 53,000 49,704 52,256 59,325 External debt flows Disbursements 31,188 88,923 113,806 106,324 105,719 132,112 150,127 163,444 Long-term external debt 26,455 73,151 110,297 102,097 105,127 131,548 149,877 163,231 IMF purchases 4,733 15,772 3,510 4,228 593 564 249 213 Principal repayments 18,942 41,136 121,366 114,791 121,299 149,423 105,205 108,871 Long-term external debt 15,291 38,304 107,129 104,307 93,126 136,740 104,985 108,698 IMF repurchases 3,651 2,832 14,237 10,484 28,172 12,683 220 173 Net flows 19,878 62,178 -8,476 -5,515 153 -14,071 92,171 58,010 Long-term external debt 11,163 34,847 3,168 -2,210 12,000 -5,193 44,893 54,532 Short-term external debt 7,633 14,392 -917 2,951 15,732 3,241 47,249 3,437 Interest payments 20,919 35,269 53,773 39,804 40,199 45,628 47,699 46,433 Long-term external debt 17,123 27,775 46,257 34,108 34,140 40,469 41,328 41,476 IMF charges 1,435 1,100 777 1,881 1,732 330 35 26 Short-term external debt 2,362 6,393 6,739 3,816 4,327 4,828 6,336 4,931 2. Other non-debt resource flows Foreign direct investment (net) 8,121 30,202 79,491 65,730 71,855 72,045 109,394 125,009 Portfolio equity flows 2,464 5,216 -561 -585 12,209 11,274 29,582 -9,674 Profit remittances on FDI 7,323 14,909 22,729 37,085 53,151 76,692 89,920 94,342 of which: Debt forgiveness grants .. .. 200 3,199 2,273 9,550 8,250 342 IDA grants .. .. .. 0 24 24 32 30 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.0 9.6 10.8 11.1 9.8 Japanese yen 6.2 8.3 6.4 4.5 3.4 3.0 2.8 3.2 Pound sterling 1.4 1.1 0.6 0.3 0.2 0.2 0.1 0.1 Swiss franc 0.9 0.6 0.3 0.2 0.1 0.1 0.1 0.1 U.S.dollars 61.9 63.4 74.6 78.3 82.2 81.7 82.6 84.0 4. Average terms of new commitments Official creditors Interest (%) 6.9 7.6 5.7 3.4 4.3 5.4 5.1 3.5 Maturity (years) 18.4 14.2 13.0 16.0 18.1 18.9 18.3 21.2 Grace period (years) 5.0 4.0 2.7 4.6 5.0 5.2 5.3 5.6 Private creditors Interest (%) 9.1 6.8 9.4 6.5 7.3 6.2 7.1 6.6 Maturity (years) 11.0 4.1 14.1 13.6 14.5 14.9 16.5 16.0 Grace period (years) 5.2 2.9 13.2 11.7 12.0 12.6 12.8 11.4 5. Major economic aggregates Gross national income (GNI) 1,050,470 1,697,404 1,961,183 2,091,480 2,547,320 2,999,990 3,519,682 4,105,181 Exports of goods, services & income 182,295 301,373 460,946 595,270 713,881 854,467 970,993 1,106,566 Worker remit. & comp. of employees 5,721 13,335 19,987 43,320 50,118 59,197 63,099 64,715 Imports of goods & services 189,189 343,892 512,664 578,944 685,735 818,309 967,259 1,145,343 International reserves 58,057 138,616 158,413 222,954 257,309 312,791 450,589 495,799 6. Ratios External debt stocks to exports (%) 231.8 198.5 159.1 134.7 103.1 85.6 86.4 80.8 External debt stocks to GNI (%) 40.2 35.2 37.4 38.3 28.9 24.4 23.8 21.8 Debt service to exports (%) 21.9 25.4 38.0 26.0 22.6 22.8 15.7 14.0 Short-term to external debt stocks (%) 16.9 20.5 15.1 12.0 14.0 14.5 18.4 17.7 Multilateral to external debt stocks (%) 12.4 11.1 11.6 12.7 13.4 12.4 10.6 10.7 Reserves to external debt stocks (%) 13.7 23.2 21.6 27.8 35.0 42.8 53.7 55.4 Reserves to imports (months) 3.7 4.8 3.7 4.6 4.5 4.6 5.6 5.2 30 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 333,139 449,176 613,717 662,418 619,451 624,744 683,915 735,073 Public and publicly guaranteed 308,394 361,873 371,995 452,625 405,606 388,696 398,343 411,812 Official creditors 109,840 151,211 131,915 139,520 129,227 117,914 114,612 123,885 Multilateral 52,516 66,565 85,408 101,666 98,712 90,511 89,280 95,431 of which: IBRD 34,683 36,299 37,429 36,408 34,958 31,528 31,534 33,857 IDA 1,117 2,186 3,387 5,136 5,049 1,529 1,692 1,778 Bilateral 57,324 84,646 46,507 37,855 30,515 27,404 25,332 28,454 Private creditors 198,554 210,662 240,080 313,104 276,378 270,781 283,731 287,926 of which: Bonds 75,572 165,105 206,062 249,235 211,501 202,172 204,295 197,743 Commercial banks 99,925 33,752 25,998 59,009 60,616 65,379 75,649 86,159 Private nonguaranteed 24,745 87,303 241,722 209,793 213,845 236,049 285,572 323,261 of which: Bonds 171 33,829 60,325 69,833 74,487 80,608 96,010 80,983 Disbursements 26,455 73,151 110,297 102,097 105,127 131,548 149,877 163,231 Public and publicly guaranteed 21,757 45,621 52,394 53,607 53,662 48,101 44,121 62,764 Official creditors 12,313 22,820 14,389 12,311 11,582 15,117 13,280 18,787 Multilateral 8,142 9,055 11,608 10,196 9,172 13,226 11,730 15,352 of which: IBRD 6,114 4,624 5,595 4,333 3,550 5,570 3,067 5,679 IDA 119 277 202 391 306 178 129 114 Bilateral 4,171 13,765 2,781 2,114 2,410 1,891 1,550 3,435 Private creditors 9,444 22,801 38,005 41,297 42,080 32,984 30,840 43,976 of which: Bonds 1,938 13,654 33,480 24,214 27,337 20,024 15,993 20,482 Commercial banks 4,652 7,428 3,787 16,283 14,192 12,345 14,503 22,335 Private nonguaranteed 4,698 27,530 57,903 48,489 51,464 83,447 105,757 100,467 of which: Bonds 171 7,412 8,312 11,623 15,066 17,459 26,341 8,440 Principal repayments 15,291 38,304 107,129 104,307 93,126 136,740 104,985 108,698 Public and publicly guaranteed 13,120 25,608 49,105 43,422 42,694 78,197 46,952 46,657 Official creditors 5,357 13,117 14,358 14,822 15,538 23,815 15,126 12,090 Multilateral 3,729 7,088 8,939 10,397 9,901 18,564 10,139 9,806 of which: IBRD 3,297 4,974 3,798 5,629 4,561 9,143 3,311 3,407 IDA 9 21 18 67 39 47 22 12 Bilateral 1,628 6,029 5,419 4,424 5,638 5,251 4,986 2,284 Private creditors 7,763 12,491 34,747 28,601 27,156 54,382 31,827 34,567 of which: Bonds 1,912 5,833 26,575 15,786 16,203 40,855 21,262 23,812 Commercial banks 3,527 4,049 6,691 11,914 10,167 12,362 9,774 10,105 Private nonguaranteed 2,171 12,696 58,024 60,884 50,432 58,544 58,032 62,041 of which: Bonds 0 3,922 8,849 20,175 10,583 13,165 12,763 9,126 Interest payments 17,123 27,775 46,257 34,108 34,140 40,469 41,328 41,476 Public and publicly guaranteed 14,888 21,946 28,232 22,152 23,987 24,452 24,985 23,321 Official creditors 4,766 8,340 7,999 5,423 5,402 5,750 5,678 5,147 Multilateral 3,497 4,404 5,870 4,166 4,279 4,754 4,715 4,358 of which: IBRD 2,533 2,651 2,801 1,471 1,507 1,813 1,781 1,545 IDA 8 23 17 46 37 25 13 11 Bilateral 1,270 3,937 2,129 1,256 1,123 996 963 789 Private creditors 10,122 13,605 20,233 16,729 18,585 18,701 19,307 18,174 of which: Bonds 2,365 11,254 16,556 13,588 15,242 15,113 14,792 13,928 Commercial banks 6,605 1,542 2,881 2,923 3,142 3,407 4,204 3,953 Private nonguaranteed 2,235 5,829 18,024 11,956 10,153 16,018 16,343 18,155 of which: Bonds 0 2,597 5,185 5,700 4,487 7,481 7,095 6,226 8. Debt stock-flow reconciliation Total change in external debt stocks 18,379 64,070 -17,856 1,516 -66,257 -4,431 107,923 .. 200 Non-debt flows (bill US$) Net flows on external debt 19,878 62,178 200 -8,476 -5,515 (%) Debt ratios-14,071 153 92,171 50,478 Cross-currency valuation 10,256 1,799 -9,367 9,571 -13,352 2,733 9,563 .. 9. Debt restructurings Total amount rescheduled 150 62,158 7,914 5,225 150 595 25,998 2,336 1,135 .. Total amount forgiven 173 534 98 554 810 350 1,223 .. Debt buyback 1,980 102 15,851 1,110 736 5,450 2,696 .. 100 100 50 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 31 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 119,474 139,821 116,683 147,810 139,340 130,189 141,397 131,545 Long-term external debt 100,500 124,210 99,688 124,778 116,850 108,963 117,542 111,315 Public and publicly guaranteed 99,300 123,516 96,517 118,756 110,819 103,428 111,434 105,449 Private nonguaranteed 1,200 694 3,170 6,022 6,031 5,535 6,108 5,866 Use of IMF credit 1,815 2,177 2,542 1,378 547 423 353 258 Short-term external debt 17,159 13,434 14,453 21,654 21,942 20,803 23,502 19,972 interest arrears on long-term 2,417 660 258 136 105 111 114 113 Memorandum items Principal arrears on long-term 7,320 2,977 1,149 329 244 210 227 197 Long-term public sector debt 98,918 122,895 95,352 116,770 108,680 101,089 108,619 102,637 Long-term private sector debt 1,583 1,315 4,336 8,008 8,170 7,874 8,923 8,678 Public & publicly guaranteed commitments 14,679 11,807 10,019 16,116 12,969 11,620 10,935 7,890 External debt flows Disbursements 13,013 11,250 9,097 14,060 14,335 11,644 14,255 11,327 Long-term external debt 12,948 10,660 9,073 14,060 14,335 11,644 14,177 11,281 IMF purchases 65 590 24 0 0 0 78 46 Principal repayments 11,015 11,349 10,687 14,927 14,506 24,277 13,649 15,690 Long-term external debt 10,618 10,960 10,450 14,416 13,761 24,127 13,484 15,555 IMF repurchases 397 390 238 511 745 150 166 135 Net flows 3,425 3,163 -2,312 2,571 149 -13,777 3,301 -7,893 Long-term external debt 2,329 -299 -1,376 -356 575 -12,483 694 -4,274 Short-term external debt 1,428 3,262 -722 3,438 320 -1,144 2,695 -3,529 Interest payments 5,650 7,179 5,608 5,580 5,833 5,767 5,692 5,388 Long-term external debt 4,359 6,236 4,749 4,717 4,648 4,600 4,648 4,720 IMF charges 180 112 130 35 32 14 12 7 Short-term external debt 1,111 831 729 828 1,153 1,152 1,032 660 2. Other non-debt resource flows Foreign direct investment (net) 527 806 4,474 6,767 13,835 24,915 25,033 26,117 Portfolio equity flows 5 32 253 705 2,410 963 -2,096 402 Profit remittances on FDI 614 941 1,689 2,790 3,908 4,084 4,729 5,476 of which: Debt forgiveness grants .. .. 583 456 14,360 3,766 5,319 211 IDA grants .. .. .. 3 5 5 3 32 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 33.6 31.1 33.3 35.3 33.4 Japanese yen 8.2 10.5 12.1 10.3 8.8 7.9 7.5 9.5 Pound sterling 1.8 1.1 0.9 1.8 1.5 1.5 1.4 0.5 Swiss franc 1.2 1.0 1.1 1.6 1.4 1.3 1.2 1.1 U.S.dollars 37.9 36.9 44.2 40.9 45.1 43.6 41.4 41.4 4. Average terms of new commitments Official creditors Interest (%) 5.6 5.3 4.6 2.9 3.6 3.7 3.4 3.5 Maturity (years) 21.5 18.2 19.6 18.8 19.3 22.1 20.0 20.8 Grace period (years) 6.3 5.1 5.6 5.0 5.4 6.8 5.9 5.4 Private creditors Interest (%) 8.9 7.0 7.2 5.8 5.6 6.8 6.1 8.6 Maturity (years) 7.5 9.3 8.0 7.5 8.0 10.9 8.2 5.8 Grace period (years) 2.3 3.6 4.5 4.8 6.0 7.8 6.1 5.6 5. Major economic aggregates Gross national income (GNI) 210,370 261,479 343,973 449,072 511,692 589,996 721,002 872,674 Exports of goods, services & income 80,916 94,256 122,832 185,747 219,167 263,085 326,215 394,449 Worker remit. & comp. of employees 11,008 12,354 11,850 21,714 22,824 24,330 29,891 33,197 Imports of goods & services 80,760 84,394 98,102 140,730 162,648 185,675 235,088 289,532 International reserves 15,412 37,939 49,127 108,709 130,432 169,057 216,346 259,526 6. Ratios External debt stocks to exports (%) 147.7 148.3 95.0 79.6 63.6 49.5 43.3 33.3 External debt stocks to GNI (%) 56.8 53.5 33.9 32.9 27.2 22.1 19.6 15.1 Debt service to exports (%) 20.6 19.7 13.3 11.0 9.3 11.4 5.9 5.3 Short-term to external debt stocks (%) 14.4 9.6 12.4 14.6 15.7 16.0 16.6 15.2 Multilateral to external debt stocks (%) 12.2 15.6 19.1 17.2 17.2 18.1 20.0 21.8 Reserves to external debt stocks (%) 12.9 27.1 42.1 73.5 93.6 129.9 153.0 197.3 Reserves to imports (months) 2.3 5.4 6.0 9.3 9.6 10.9 11.0 10.8 32 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 100,500 124,210 99,688 124,778 116,850 108,963 117,542 111,315 Public and publicly guaranteed 99,300 123,516 96,517 118,756 110,819 103,428 111,434 105,449 Official creditors 56,863 89,370 72,261 78,669 70,420 62,990 69,276 67,207 Multilateral 14,552 21,812 22,250 25,389 23,964 23,622 28,313 28,676 of which: IBRD 7,769 10,218 7,639 7,434 6,757 6,144 7,447 7,123 IDA 1,730 2,061 2,655 3,392 3,322 3,595 3,776 3,784 Bilateral 42,311 67,558 50,011 53,279 46,456 39,368 40,963 38,530 Private creditors 42,437 34,146 24,256 40,087 40,399 40,439 42,158 38,243 of which: Bonds 1,683 2,036 7,375 20,422 22,142 23,179 24,579 23,907 Commercial banks 13,623 10,340 8,380 8,859 8,949 8,510 9,402 7,982 Private nonguaranteed 1,200 694 3,170 6,022 6,031 5,535 6,108 5,866 of which: Bonds 0 50 836 746 1,011 805 1,280 1,220 Disbursements 12,948 10,660 9,073 14,060 14,335 11,644 14,177 11,281 Public and publicly guaranteed 12,889 10,508 8,093 13,336 12,545 10,617 12,645 9,393 Official creditors 5,529 5,688 3,239 4,090 4,912 4,592 6,500 5,742 Multilateral 2,329 3,380 1,835 2,662 3,501 3,159 5,127 3,361 of which: IBRD 1,154 1,455 532 439 895 739 1,723 684 IDA 37 128 118 177 202 225 145 126 Bilateral 3,201 2,309 1,404 1,428 1,411 1,433 1,373 2,381 Private creditors 7,359 4,820 4,854 9,246 7,634 6,024 6,145 3,651 of which: Bonds 0 888 2,031 5,754 4,144 3,799 3,635 2,257 Commercial banks 732 874 1,082 1,420 2,312 1,664 2,118 1,053 Private nonguaranteed 59 153 981 725 1,790 1,028 1,533 1,888 of which: Bonds 0 50 115 200 530 0 0 0 Principal repayments 10,618 10,960 10,450 14,416 13,761 24,127 13,484 15,555 Public and publicly guaranteed 10,478 10,868 10,245 13,665 12,858 22,335 11,068 13,559 Official creditors 3,182 7,280 5,683 7,116 7,187 15,330 5,044 7,102 Multilateral 1,249 1,978 1,943 3,304 3,267 4,570 2,315 2,329 of which: IBRD 745 1,096 855 1,143 1,030 1,673 771 986 IDA 12 28 43 72 75 80 89 96 Bilateral 1,933 5,303 3,740 3,812 3,920 10,761 2,729 4,773 Private creditors 7,296 3,587 4,562 6,549 5,671 7,005 6,024 6,457 of which: Bonds 76 278 896 2,941 1,883 2,810 2,620 3,021 Commercial banks 1,586 629 1,423 1,581 1,775 2,484 1,949 1,827 Private nonguaranteed 140 92 205 751 903 1,792 2,416 1,997 of which: Bonds 0 0 50 250 265 206 275 60 Interest payments 4,359 6,236 4,749 4,717 4,648 4,600 4,648 4,720 Public and publicly guaranteed 4,265 6,210 4,605 4,543 4,458 4,400 4,424 4,453 Official creditors 2,030 4,184 2,987 2,460 2,328 2,085 1,945 2,025 Multilateral 839 1,324 1,212 963 927 931 980 1,076 of which: IBRD 592 736 545 322 308 296 329 352 IDA 12 15 20 28 28 27 28 30 Bilateral 1,191 2,860 1,775 1,497 1,401 1,154 964 949 Private creditors 2,235 2,027 1,618 2,083 2,130 2,315 2,479 2,428 of which: Bonds 124 88 458 1,352 1,366 1,499 1,591 1,623 Commercial banks 720 616 568 295 332 408 452 422 Private nonguaranteed 94 26 144 175 191 201 224 267 of which: Bonds 0 0 69 69 90 74 116 99 8. Debt stock-flow reconciliation Total change in external debt stocks -3,209 6,170 -9,139 9,540 -8,470 -9,151 11,208 .. 30 Non-debt flows (bill US$) Net flows on external debt 3,425 3,163 200 -2,312 2,571 (%) Debt ratios-13,777 149 3,301 -978 Cross-currency valuation 5,135 2,107 -3,923 3,696 -7,483 4,209 5,782 .. 9. Debt restructurings Total amount rescheduled 4,565 8,947 342 150 294 286 224 214 .. Total amount forgiven 20 10,614 357 179 115 67 123 7 .. Debt buyback 0 0 85 0 0 0 0 .. 100 10 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 33 SOUTH ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 126,429 152,409 161,198 193,695 187,822 217,084 288,517 326,311 Long-term external debt 109,412 138,071 153,229 181,735 173,771 201,269 242,567 269,665 Public and publicly guaranteed 107,685 129,770 134,715 129,059 115,885 126,775 144,174 158,527 Private nonguaranteed 1,727 8,301 18,514 52,676 57,886 74,494 98,392 111,139 Use of IMF credit 4,686 5,293 1,918 2,423 2,208 2,232 2,277 5,374 Short-term external debt 12,331 9,045 6,051 9,537 11,842 13,583 43,674 51,271 interest arrears on long-term 17 53 112 0 21 18 34 29 Memorandum items Principal arrears on long-term 34 65 221 0 13 153 318 248 Long-term public sector debt 106,914 129,096 133,942 128,645 115,696 126,613 144,024 158,323 Long-term private sector debt 2,498 8,975 19,287 53,090 58,076 74,655 98,542 111,343 Public & publicly guaranteed commitments 13,939 8,435 12,956 8,308 9,449 10,605 23,901 13,189 External debt flows Disbursements 12,009 12,077 14,225 21,331 24,469 38,323 70,876 49,617 Long-term external debt 10,165 11,875 14,030 20,917 24,213 38,152 70,788 46,174 IMF purchases 1,844 202 195 414 256 171 88 3,443 Principal repayments 5,227 11,627 9,825 17,718 22,073 15,152 35,093 27,440 Long-term external debt 4,085 9,622 9,342 17,035 21,798 14,891 34,936 27,172 IMF repurchases 1,142 2,006 483 683 275 261 157 268 Net flows 8,331 2,487 3,461 4,289 4,680 24,915 65,858 29,778 Long-term external debt 6,080 2,254 4,688 3,882 2,415 23,260 35,852 19,002 Short-term external debt 1,550 2,037 -938 676 2,284 1,744 30,075 7,602 Interest payments 6,031 6,533 5,666 5,643 5,665 6,398 8,643 9,171 Long-term external debt 4,582 5,674 5,284 5,339 5,194 5,733 6,908 7,330 IMF charges 247 234 58 30 26 26 23 23 Short-term external debt 1,202 624 323 275 446 639 1,711 1,818 2. Other non-debt resource flows Foreign direct investment (net) 542 2,931 4,358 7,589 10,914 26,041 32,315 48,678 Portfolio equity flows 1 1,585 2,381 9,007 12,406 10,388 36,093 -15,778 Profit remittances on FDI 93 392 721 5,388 7,979 11,542 14,851 14,542 of which: Debt forgiveness grants .. .. 464 627 161 592 390 884 IDA grants .. .. .. 4 69 207 407 259 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.9 7.2 7.3 7.0 6.0 Japanese yen 12.6 17.1 15.3 19.0 19.1 18.4 17.2 19.8 Pound sterling 5.0 3.6 2.8 2.3 2.2 1.9 1.5 1.3 Swiss franc 0.6 0.7 0.3 0.3 0.3 0.2 0.2 0.2 U.S.dollars 53.4 45.9 56.6 54.7 54.5 55.6 56.8 55.3 4. Average terms of new commitments Official creditors Interest (%) 3.7 3.7 5.0 1.7 2.1 3.1 4.2 1.6 Maturity (years) 28.9 25.8 23.4 29.0 27.6 26.2 23.7 27.4 Grace period (years) 8.1 7.7 6.4 7.6 7.8 6.2 6.2 7.0 Private creditors Interest (%) 6.8 5.8 4.3 3.9 5.2 4.8 6.5 3.1 Maturity (years) 14.9 6.0 5.4 6.6 5.4 14.0 8.8 9.9 Grace period (years) 7.1 3.9 4.6 4.8 4.3 9.7 4.0 3.4 5. Major economic aggregates Gross national income (GNI) 400,537 473,560 603,639 890,688 1,019,937 1,150,535 1,444,436 1,535,244 Exports of goods, services & income 41,150 71,062 105,843 185,068 235,280 290,611 354,090 436,829 Worker remit. & comp. of employees 5,572 10,005 17,212 28,694 33,924 42,523 54,041 71,652 Imports of goods & services 53,492 86,693 116,954 192,498 258,918 316,030 383,023 497,834 International reserves 8,258 30,704 47,221 149,907 156,714 198,524 302,315 275,950 6. Ratios External debt stocks to exports (%) 307.2 214.5 152.3 104.7 79.8 74.7 81.5 74.7 External debt stocks to GNI (%) 31.6 32.2 26.7 21.7 18.4 18.9 20.0 21.3 Debt service to exports (%) 27.4 25.6 14.6 12.6 11.8 7.4 12.4 8.4 Short-term to external debt stocks (%) 9.8 5.9 3.8 4.9 6.3 6.3 15.1 15.7 Multilateral to external debt stocks (%) 30.4 37.3 37.9 36.3 36.8 35.0 29.0 27.6 Reserves to external debt stocks (%) 6.5 20.1 29.3 77.4 83.4 91.5 104.8 84.6 Reserves to imports (months) 1.9 4.3 4.8 9.3 7.3 7.5 9.5 6.7 34 SOUTH ASIA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 109,412 138,071 153,229 181,735 173,771 201,269 242,567 269,665 Public and publicly guaranteed 107,685 129,770 134,715 129,059 115,885 126,775 144,174 158,527 Official creditors 82,972 104,167 101,812 114,813 108,608 116,202 127,009 138,404 Multilateral 38,396 56,879 61,033 70,326 69,030 75,909 83,639 90,090 of which: IBRD 9,646 13,035 10,209 7,123 7,514 8,151 8,766 9,376 IDA 21,381 29,001 31,963 43,214 41,900 45,803 48,975 49,589 Bilateral 44,577 47,288 40,778 44,487 39,579 40,293 43,370 48,314 Private creditors 24,712 25,602 32,904 14,246 7,277 10,573 17,166 20,123 of which: Bonds 2,785 3,474 10,928 8,987 2,525 4,178 7,579 9,601 Commercial banks 16,927 14,176 19,674 4,123 3,797 5,485 8,430 9,235 Private nonguaranteed 1,727 8,301 18,514 52,676 57,886 74,494 98,392 111,139 of which: Bonds 0 1,065 1,560 3,059 6,461 11,204 16,277 15,713 Disbursements 10,165 11,875 14,030 20,917 24,213 38,152 70,788 46,174 Public and publicly guaranteed 9,913 9,941 13,444 12,317 10,862 13,816 22,203 25,087 Official creditors 6,864 6,392 6,151 6,956 7,263 8,164 9,611 11,936 Multilateral 4,389 3,975 4,348 5,076 5,621 6,250 7,295 8,608 of which: IBRD 1,576 860 866 1,005 1,081 1,134 1,178 1,176 IDA 1,545 1,374 1,655 2,644 2,625 2,452 2,572 2,151 Bilateral 2,475 2,418 1,804 1,880 1,642 1,914 2,316 3,328 Private creditors 3,049 3,549 7,293 5,361 3,599 5,652 12,592 13,151 of which: Bonds 416 85 5,520 4,315 2,314 3,252 8,339 11,507 Commercial banks 2,071 1,901 942 973 1,242 2,369 3,984 1,392 Private nonguaranteed 252 1,934 586 8,600 13,351 24,336 48,585 21,087 of which: Bonds 0 520 0 2,164 3,520 4,799 7,793 594 Principal repayments 4,085 9,622 9,342 17,035 21,798 14,891 34,936 27,172 Public and publicly guaranteed 3,726 9,124 8,634 11,352 14,504 6,995 11,363 16,415 Official creditors 2,367 5,773 5,367 7,164 4,458 4,625 4,792 5,601 Multilateral 1,009 2,227 2,827 4,363 2,162 2,484 2,521 3,096 of which: IBRD 553 1,173 1,231 568 523 543 631 687 IDA 151 318 548 874 947 1,069 1,119 1,230 Bilateral 1,358 3,546 2,540 2,801 2,296 2,141 2,270 2,504 Private creditors 1,359 3,351 3,268 4,188 10,046 2,369 6,571 10,815 of which: Bonds 279 320 50 2,524 8,565 1,597 5,313 9,533 Commercial banks 369 2,002 2,869 1,303 1,293 694 1,208 1,153 Private nonguaranteed 359 498 707 5,684 7,294 7,897 23,573 10,757 of which: Bonds 0 0 35 83 117 57 409 880 Interest payments 4,582 5,674 5,284 5,339 5,194 5,733 6,908 7,330 Public and publicly guaranteed 4,434 5,012 4,403 2,401 3,928 2,408 2,723 2,910 Official creditors 2,171 2,938 2,273 1,860 1,889 2,041 2,235 2,286 Multilateral 1,064 1,640 1,366 805 895 1,133 1,328 1,376 of which: IBRD 752 995 613 177 252 387 470 401 IDA 149 215 236 329 339 343 358 390 Bilateral 1,107 1,299 906 1,055 995 908 907 910 Private creditors 2,263 2,073 2,130 542 2,038 367 488 624 of which: Bonds 180 196 210 345 1,849 154 211 271 Commercial banks 1,803 1,317 1,812 172 173 202 261 321 Private nonguaranteed 148 663 881 2,937 1,266 3,325 4,185 4,419 of which: Bonds 0 58 227 92 151 276 404 345 8. Debt stock-flow reconciliation Total change in external debt stocks 14,604 -726 -1,643 6,883 -5,873 28,563 71,433 .. 75 Non-debt flows (bill US$) Net flows on external debt 8,331 2,487 200 3,461 4,289 Debt ratios (%) 4,680 24,915 65,858 25,839 Cross-currency valuation 2,936 -4,427 -7,794 3,241 -10,447 3,470 4,888 .. 9. Debt restructurings Total amount rescheduled 0 0 918 150 0 265 95 842 .. Total amount forgiven 50 0 7 9 146 2 83 168 .. Debt buyback 0 0 0 0 0 0 0 .. 100 25 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 35 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 176,591 236,070 211,379 237,121 214,677 171,336 189,308 195,699 Long-term external debt 149,295 186,912 173,085 198,122 177,804 126,865 141,260 143,375 Public and publicly guaranteed 144,031 175,152 161,737 189,280 169,156 117,591 124,885 129,079 Private nonguaranteed 5,264 11,760 11,348 8,843 8,648 9,274 16,375 14,295 Use of IMF credit 6,606 8,654 6,734 7,238 5,947 3,140 3,341 3,963 Short-term external debt 20,690 40,504 31,560 31,760 30,925 41,331 44,707 48,361 interest arrears on long-term 9,523 20,734 13,568 18,087 14,245 15,218 14,534 13,506 Memorandum items Principal arrears on long-term 17,760 41,062 25,528 26,906 23,981 24,775 22,935 21,911 Long-term public sector debt 143,844 175,026 160,830 189,000 169,058 117,554 124,858 129,059 Long-term private sector debt 5,451 11,886 12,255 9,122 8,746 9,311 16,402 14,316 Public & publicly guaranteed commitments 11,448 9,161 8,290 14,791 22,672 10,590 18,040 16,447 External debt flows Disbursements 10,305 14,015 10,087 13,037 15,856 12,913 23,940 14,525 Long-term external debt 9,645 11,021 9,562 12,375 15,534 12,615 23,586 13,113 IMF purchases 660 2,994 525 662 323 298 354 1,413 Principal repayments 5,568 9,417 9,017 8,085 12,142 17,384 13,549 8,690 Long-term external debt 4,620 7,046 8,557 7,294 11,395 17,027 13,252 8,003 IMF repurchases 947 2,371 460 790 747 357 296 687 Net flows 6,994 7,514 -1,796 6,298 6,722 4,962 14,452 10,517 Long-term external debt 5,025 3,974 1,005 5,081 4,139 -4,411 10,334 5,110 Short-term external debt 2,257 2,917 -2,866 1,345 3,007 9,432 4,060 4,682 Interest payments 5,287 5,336 4,442 3,119 7,959 4,333 5,231 4,933 Long-term external debt 4,349 3,974 3,318 2,679 7,322 3,453 4,054 3,514 IMF charges 238 559 43 30 27 39 14 494 Short-term external debt 701 803 1,082 410 610 841 1,163 926 2. Other non-debt resource flows Foreign direct investment (net) 1,199 4,393 6,681 9,954 18,550 20,734 27,928 33,103 Portfolio equity flows 393 2,954 4,164 6,685 8,121 16,805 10,147 -9,346 Profit remittances on FDI 2,861 3,952 7,858 13,385 17,209 25,727 37,939 40,012 of which: Debt forgiveness grants .. .. 3,095 9,163 19,601 93,006 9,472 3,097 IDA grants .. .. .. 979 831 888 1,361 1,641 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 23.8 19.6 22.4 21.4 19.1 Japanese yen 4.1 5.5 4.1 4.9 3.6 3.1 2.7 3.8 Pound sterling 5.5 3.8 2.1 4.9 4.1 1.6 1.4 1.0 Swiss franc 2.3 2.1 1.5 2.1 1.9 2.5 2.5 2.6 U.S.dollars 36.6 40.8 61.4 50.1 55.2 52.5 52.6 54.1 4. Average terms of new commitments Official creditors Interest (%) 3.5 1.8 1.1 1.9 4.6 1.5 1.4 1.6 Maturity (years) 28.4 31.7 36.5 28.1 21.6 29.5 31.4 31.6 Grace period (years) 7.7 8.7 9.1 6.6 4.4 7.2 7.9 8.3 Private creditors Interest (%) 8.1 5.7 5.8 3.4 5.6 6.9 6.7 4.1 Maturity (years) 11.6 12.4 7.7 7.1 6.4 8.9 8.3 8.1 Grace period (years) 2.7 1.9 2.1 2.9 1.9 5.7 5.3 1.2 5. Major economic aggregates Gross national income (GNI) 280,255 309,853 320,404 513,257 600,163 705,122 800,683 921,717 Exports of goods, services & income 79,252 92,676 117,041 190,579 239,435 286,299 344,985 407,480 Worker remit. & comp. of employees 1,631 3,177 4,614 8,006 9,361 12,613 18,630 21,122 Imports of goods & services 86,215 111,982 118,496 194,360 238,579 285,193 351,798 424,957 International reserves 15,362 20,652 36,505 62,543 82,495 114,851 141,744 150,347 6. Ratios External debt stocks to exports (%) 222.8 254.7 180.6 124.4 89.7 59.8 54.9 48.0 External debt stocks to GNI (%) 63.0 76.2 66.0 46.2 35.8 24.3 23.6 21.2 Debt service to exports (%) 13.7 15.9 11.5 5.9 8.4 7.6 5.4 3.3 Short-term to external debt stocks (%) 11.7 17.2 14.9 13.4 14.4 24.1 23.6 24.7 Multilateral to external debt stocks (%) 21.6 23.1 25.8 31.6 33.7 25.1 25.2 25.6 Reserves to external debt stocks (%) 8.7 8.7 17.3 26.4 38.4 67.0 74.9 76.8 Reserves to imports (months) 2.1 2.2 3.7 3.9 4.1 4.8 4.8 4.2 36 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 149,295 186,912 173,085 198,122 177,804 126,865 141,260 143,375 Public and publicly guaranteed 144,031 175,152 161,737 189,280 169,156 117,591 124,885 129,079 Official creditors 108,400 138,602 135,711 157,923 135,324 88,416 93,129 95,711 Multilateral 38,131 54,415 54,539 74,914 72,358 42,953 47,767 50,047 of which: IBRD 9,178 7,641 3,477 2,476 2,015 1,799 1,524 994 IDA 15,718 27,842 33,574 49,673 48,444 24,187 27,337 29,329 Bilateral 70,268 84,187 81,172 83,010 62,966 45,464 45,362 45,664 Private creditors 35,631 36,550 26,026 31,356 33,832 29,174 31,756 33,368 of which: Bonds 301 4,784 9,150 8,803 8,575 6,992 9,654 9,429 Commercial banks 13,868 12,577 8,449 16,607 19,764 17,590 18,192 20,182 Private nonguaranteed 5,264 11,760 11,348 8,843 8,648 9,274 16,375 14,295 of which: Bonds 0 350 1,360 0 1,307 1,484 6,890 6,231 Disbursements 9,645 11,021 9,562 12,375 15,534 12,615 23,586 13,113 Public and publicly guaranteed 9,015 10,274 7,444 10,513 12,274 9,440 16,201 12,198 Official creditors 7,117 5,883 4,126 6,181 5,906 6,091 7,524 7,785 Multilateral 4,543 4,206 3,352 4,810 4,746 4,522 4,952 4,979 of which: IBRD 813 274 75 33 14 1 31 45 IDA 2,025 2,390 2,193 3,036 2,943 2,749 2,987 2,898 Bilateral 2,574 1,678 773 1,371 1,160 1,569 2,573 2,806 Private creditors 1,898 4,390 3,318 4,332 6,368 3,349 8,677 4,413 of which: Bonds 0 541 765 1,000 0 2,076 3,525 0 Commercial banks 378 1,623 1,752 3,061 6,087 831 4,896 4,087 Private nonguaranteed 630 747 2,119 1,862 3,260 3,175 7,385 914 of which: Bonds 0 350 712 0 1,307 0 5,762 0 Principal repayments 4,620 7,046 8,557 7,294 11,395 17,027 13,252 8,003 Public and publicly guaranteed 4,155 5,807 7,160 6,269 10,688 14,521 11,257 6,144 Official creditors 2,541 2,976 3,441 3,787 6,596 8,487 5,228 3,523 Multilateral 1,343 2,017 1,630 1,468 1,550 1,812 1,806 2,070 of which: IBRD 721 1,056 552 339 286 284 406 620 IDA 51 120 225 249 248 503 277 546 Bilateral 1,197 960 1,811 2,318 5,045 6,676 3,422 1,453 Private creditors 1,614 2,831 3,719 2,483 4,093 6,034 6,028 2,622 of which: Bonds 31 40 480 370 1 1,742 1,222 52 Commercial banks 997 1,261 2,444 1,512 3,527 3,168 3,858 2,132 Private nonguaranteed 466 1,240 1,398 1,025 706 2,505 1,996 1,859 of which: Bonds 0 0 0 0 0 0 1,390 698 Interest payments 4,349 3,974 3,318 2,679 7,322 3,453 4,054 3,514 Public and publicly guaranteed 4,018 3,470 2,913 2,493 6,970 3,016 3,506 2,942 Official creditors 2,697 2,007 1,824 1,577 5,855 1,440 2,070 1,570 Multilateral 1,105 1,234 842 843 756 724 1,050 910 of which: IBRD 651 630 213 76 53 47 339 109 IDA 97 178 199 317 313 272 188 285 Bilateral 1,591 772 983 733 5,099 716 1,020 660 Private creditors 1,321 1,463 1,089 916 1,116 1,576 1,436 1,372 of which: Bonds 13 322 561 584 517 552 539 677 Commercial banks 615 457 303 149 425 779 752 566 Private nonguaranteed 331 504 405 186 352 437 548 572 of which: Bonds 0 0 41 8 61 89 139 260 8. Debt stock-flow reconciliation Total change in external debt stocks 19,739 14,567 -3,301 8,844 -22,444 -43,341 17,972 .. 50 Non-debt flows (bill US$) Net flows on external debt 6,994 7,514 200 -1,796 6,298 Debt ratios (%) 6,722 4,962 14,452 8,289 Cross-currency valuation 7,662 920 -6,817 6,256 -13,574 -26,585 3,988 .. Debt restructurings 9. 40 Total amount rescheduled 5,987 3,489 22,630 150 3,574 1,221 787 1,078 .. Total amount forgiven 1,583 1,302 539 4,104 8,777 15,336 1,797 .. Debt buyback 30 0 29 137 0 0 0 3,322 .. 100 20 50 10 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 37 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 137,412 167,801 151,620 176,591 168,099 142,562 158,749 168,325 Long-term external debt 120,029 144,603 130,515 155,164 147,658 122,086 134,487 143,169 Public and publicly guaranteed 118,587 141,776 127,173 152,210 144,734 118,500 129,666 137,779 Private nonguaranteed 1,443 2,827 3,342 2,954 2,924 3,587 4,821 5,390 Use of IMF credit 5,763 7,642 6,623 7,222 6,075 3,532 3,804 4,623 Short-term external debt 11,620 15,555 14,482 14,205 14,366 16,943 20,457 20,533 interest arrears on long-term 5,316 10,733 7,955 7,222 7,354 7,856 7,803 6,850 Memorandum items Principal arrears on long-term 11,416 30,430 17,691 16,260 15,503 16,174 16,795 16,237 Long-term public sector debt 117,979 141,145 126,707 151,972 144,562 118,431 129,556 137,686 Long-term private sector debt 2,075 3,484 3,828 3,192 3,111 3,686 4,932 5,483 Public & publicly guaranteed commitments 8,874 8,932 7,329 10,865 10,047 10,048 12,782 14,915 External debt flows Disbursements 7,707 10,684 7,226 10,245 10,016 9,355 12,259 13,694 Long-term external debt 7,153 7,558 6,749 9,453 9,553 8,869 11,831 12,032 IMF purchases 554 3,127 478 792 462 485 428 1,662 Principal repayments 3,510 6,011 4,810 4,440 4,548 4,342 4,813 5,406 Long-term external debt 2,518 3,725 4,187 3,659 3,805 3,982 4,489 4,682 IMF repurchases 992 2,286 623 781 744 360 325 724 Net flows 5,225 5,231 1,845 6,773 5,496 7,088 11,013 9,317 Long-term external debt 4,635 3,832 2,561 5,794 5,749 4,887 7,343 7,350 Short-term external debt 1,028 558 -571 969 28 2,075 3,567 1,029 Interest payments 2,102 2,490 2,143 1,854 1,968 2,127 2,739 2,952 Long-term external debt 1,483 1,734 1,645 1,608 1,630 1,687 2,219 2,093 IMF charges 222 507 68 33 29 42 17 499 Short-term external debt 397 249 430 213 309 398 504 360 2. Other non-debt resource flows Foreign direct investment (net) 1,089 3,243 4,325 6,236 7,518 11,643 20,902 26,440 Portfolio equity flows 7 -5 3 21 167 1,383 6,394 -591 Profit remittances on FDI 1,015 767 1,599 3,820 5,564 6,404 6,091 5,705 of which: Debt forgiveness grants .. .. 3,193 8,704 6,447 70,275 6,586 2,546 IDA grants .. .. .. 973 878 1,030 1,772 1,617 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 8.9 8.0 10.0 10.2 9.1 Japanese yen 7.4 10.0 12.0 11.1 10.3 12.4 12.0 14.1 Pound sterling 3.0 2.3 1.9 1.5 1.4 1.1 1.0 0.8 Swiss franc 0.9 0.7 0.5 0.5 0.4 0.5 0.5 0.3 U.S.dollars 31.1 35.6 51.5 54.1 55.2 49.8 48.9 48.4 4. Average terms of new commitments Official creditors Interest (%) 2.0 2.2 1.4 1.2 1.3 1.5 1.5 1.6 Maturity (years) 33.7 32.2 35.8 35.3 34.2 33.3 33.3 33.4 Grace period (years) 8.9 8.9 9.2 9.0 8.6 8.6 8.5 8.7 Private creditors Interest (%) 7.7 5.9 5.6 3.0 6.7 3.6 7.6 2.6 Maturity (years) 12.1 7.2 10.3 12.8 10.5 15.9 11.3 13.9 Grace period (years) 2.3 1.8 3.1 3.7 9.8 4.4 8.8 3.2 5. Major economic aggregates Gross national income (GNI) 173,370 188,018 228,169 299,185 339,435 381,798 449,928 545,867 Exports of goods, services & income .. 47,160 68,799 109,595 130,512 160,101 189,517 236,759 Worker remit. & comp. of employees 3,153 3,524 5,654 13,214 16,097 19,940 24,600 31,567 Imports of goods & services 47,429 67,595 79,545 127,988 151,722 181,929 232,497 295,371 International reserves 5,700 13,193 18,388 36,762 38,647 48,363 63,705 65,224 6. Ratios External debt stocks to exports (%) .. 355.8 220.4 161.1 128.8 89.0 83.8 71.1 External debt stocks to GNI (%) 79.3 89.2 66.5 59.0 49.5 37.3 35.3 30.8 Debt service to exports (%) .. 18.0 10.1 5.7 5.0 4.0 4.0 3.5 Short-term to external debt stocks (%) 8.5 9.3 9.6 8.0 8.5 11.9 12.9 12.2 Multilateral to external debt stocks (%) 26.5 32.8 42.0 52.6 53.9 45.6 46.1 46.6 Reserves to external debt stocks (%) 4.1 7.9 12.1 20.8 23.0 33.9 40.1 38.7 Reserves to imports (months) 1.4 2.3 2.8 3.4 3.1 3.2 3.3 2.6 38 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 120,029 144,603 130,515 155,164 147,658 122,086 134,487 143,169 Public and publicly guaranteed 118,587 141,776 127,173 152,210 144,734 118,500 129,666 137,779 Official creditors 107,937 132,973 118,864 144,856 137,379 111,721 122,306 130,658 Multilateral 36,398 54,978 63,752 92,837 90,664 64,974 73,206 78,503 of which: IBRD 2,767 1,884 971 981 917 938 797 777 IDA 20,739 33,894 41,062 61,638 60,285 38,181 42,930 45,815 Bilateral 71,539 77,996 55,112 52,019 46,715 46,748 49,101 52,155 Private creditors 10,649 8,803 8,309 7,354 7,355 6,778 7,360 7,121 of which: Bonds 301 129 567 548 1,272 1,246 1,970 1,944 Commercial banks 3,130 2,820 3,799 2,474 2,341 2,367 2,451 2,480 Private nonguaranteed 1,443 2,827 3,342 2,954 2,924 3,587 4,821 5,390 of which: Bonds 0 0 250 0 0 0 0 39 Disbursements 7,153 7,558 6,749 9,453 9,553 8,869 11,831 12,032 Public and publicly guaranteed 6,883 7,278 6,627 8,573 8,874 7,907 10,382 11,126 Official creditors 6,055 6,056 6,017 7,942 7,762 7,679 9,430 10,607 Multilateral 4,152 4,473 4,303 6,266 6,322 5,952 7,160 7,401 of which: IBRD 66 194 50 29 25 32 17 15 IDA 2,543 2,543 2,748 4,050 3,794 3,387 4,226 4,122 Bilateral 1,903 1,583 1,714 1,677 1,441 1,726 2,270 3,205 Private creditors 828 1,222 610 630 1,111 228 952 519 of which: Bonds 0 0 0 0 750 0 750 0 Commercial banks 193 610 194 290 194 190 135 230 Private nonguaranteed 270 279 122 880 680 963 1,449 907 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 2,518 3,725 4,187 3,659 3,805 3,982 4,489 4,682 Public and publicly guaranteed 2,393 3,510 3,800 3,221 3,442 3,686 4,083 4,137 Official creditors 1,672 2,614 2,331 2,477 2,742 2,999 3,517 3,560 Multilateral 781 1,215 1,111 1,230 1,401 1,754 1,863 1,788 of which: IBRD 243 297 129 41 28 26 192 55 IDA 64 186 330 451 450 746 558 752 Bilateral 891 1,399 1,220 1,247 1,341 1,245 1,654 1,771 Private creditors 721 896 1,469 743 701 687 566 577 of which: Bonds 30 30 0 13 26 26 26 26 Commercial banks 280 301 845 207 209 212 150 171 Private nonguaranteed 125 215 387 438 362 297 405 546 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1,483 1,734 1,645 1,608 1,630 1,687 2,219 2,093 Public and publicly guaranteed 1,415 1,656 1,507 1,499 1,518 1,592 2,105 1,967 Official creditors 1,092 1,419 1,093 1,354 1,359 1,392 1,894 1,701 Multilateral 571 735 602 818 835 851 1,177 958 of which: IBRD 171 137 52 14 14 17 312 19 IDA 131 241 258 431 430 394 311 360 Bilateral 521 684 491 535 524 541 717 743 Private creditors 323 237 414 145 159 199 211 266 of which: Bonds 13 6 23 22 22 57 72 134 Commercial banks 137 113 222 41 55 59 64 64 Private nonguaranteed 68 77 138 109 112 95 113 126 of which: Bonds 0 0 14 0 0 0 0 2 8. Debt stock-flow reconciliation Total change in external debt stocks 12,052 6,207 -16,520 6,529 -8,492 -26,237 16,187 .. 30 Non-debt flows (bill US$) Net flows on external debt 5,225 5,231 250 1,845 6,773 Debt ratios (%) 5,496 7,088 11,013 19,257 Cross-currency valuation 4,872 -1,973 -6,649 4,279 -10,739 -27,966 4,052 .. 9. Debt restructurings 200 Total amount rescheduled 2,707 1,412 943 663 1,421 751 1,214 .. Total amount forgiven 20 1,512 992 522 2,988 1,169 1,259 682 .. Debt buyback 0 29 137 150 0 0 0 0 .. 100 10 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 39 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 1. Summary external debt data External debt stocks 1,070,255 1,704,407 2,000,615 2,429,633 2,454,431 2,668,054 3,292,014 3,550,214 Long-term external debt 872,869 1,340,157 1,669,770 1,901,707 1,906,850 2,057,186 2,443,401 2,705,268 Public and publicly guaranteed 814,913 1,133,675 1,157,357 1,281,999 1,162,826 1,121,736 1,205,705 1,241,882 Private nonguaranteed 57,956 206,482 512,414 619,708 744,023 935,450 1,237,695 1,463,386 Use of IMF credit 28,372 52,239 51,643 88,822 43,104 16,327 11,736 21,117 Short-term external debt 169,015 312,058 279,202 439,104 504,477 594,541 836,877 823,829 interest arrears on long-term 40,810 31,456 21,485 41,290 21,064 18,371 19,321 20,038 Memorandum items Principal arrears on long-term 45,917 67,955 33,362 57,502 30,267 29,799 30,102 32,737 Long-term public sector debt 809,806 1,129,190 1,151,205 1,275,430 1,156,254 1,115,119 1,198,241 1,233,507 Long-term private sector debt 63,063 210,967 518,565 626,278 750,596 942,066 1,245,160 1,471,761 Public & publicly guaranteed commitments 87,212 131,655 130,979 126,008 155,468 128,236 181,633 159,822 External debt flows Disbursements 97,039 198,956 233,062 341,198 418,427 501,864 696,904 691,051 Long-term external debt 89,659 174,346 223,426 335,044 414,929 498,236 695,319 678,106 IMF purchases 7,380 24,656 9,637 6,155 3,498 3,628 1,585 12,945 Principal repayments 64,479 114,775 232,960 301,491 358,034 411,666 391,060 442,764 Long-term external debt 57,646 107,054 212,980 280,635 314,656 381,206 384,230 439,688 IMF repurchases 6,833 7,749 19,979 20,856 43,378 30,460 6,830 3,076 Net flows 55,699 138,750 -7,871 100,278 145,993 182,956 546,825 234,521 Long-term external debt 32,013 67,292 10,445 54,408 100,273 117,030 311,089 238,418 Short-term external debt 23,139 54,569 -7,974 60,571 85,600 92,757 240,980 -13,766 Interest payments 54,254 83,557 111,774 96,940 105,975 119,980 141,547 151,349 Long-term external debt 44,201 66,763 93,215 79,988 85,961 96,455 111,623 125,817 IMF charges 2,217 2,171 2,797 3,429 3,249 1,580 694 481 Short-term external debt 7,836 14,628 15,762 13,522 16,765 21,945 29,230 25,052 2. Other non-debt resource flows Foreign direct investment (net) 22,430 95,257 154,539 209,504 273,586 351,513 507,545 567,188 Portfolio equity flows 3,384 13,998 14,134 38,573 68,675 104,413 128,965 -56,557 Profit remittances on FDI 15,216 36,974 66,695 124,539 165,989 236,569 309,546 350,145 of which: Debt forgiveness grants .. .. 1,876 6,474 30,902 43,192 16,994 2,023 IDA grants .. .. .. 16 83 160 140 461 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 19.2 16.5 17.5 17.9 16.4 Japanese yen 11.7 13.3 11.9 10.7 10.0 9.8 9.0 10.7 Pound sterling 2.4 1.5 1.0 1.4 1.1 0.8 0.6 0.4 Swiss franc 1.9 1.2 0.5 0.7 0.7 0.7 0.8 0.9 U.S.dollars 46.3 49.2 63.5 61.9 65.7 65.4 66.3 66.6 4. Average terms of new commitments Official creditors Interest (%) 5.7 6.2 5.2 2.9 4.0 4.4 4.3 3.3 Maturity (years) 21.8 17.9 18.1 19.2 20.0 20.5 20.6 21.8 Grace period (years) 6.3 5.0 4.5 5.3 5.2 5.6 5.8 6.3 Private creditors Interest (%) 8.6 6.5 8.1 5.8 6.0 6.0 6.3 6.0 Maturity (years) 11.1 7.4 11.9 10.7 11.7 11.9 10.4 11.8 Grace period (years) 4.1 3.5 8.9 8.8 9.5 9.5 8.1 8.4 5. Major economic aggregates Gross national income (GNI) 3,407,769 4,728,943 5,550,547 7,825,771 9,313,324 11,001,455 13,543,652 16,228,323 Exports of goods, services & income 661,803 1,166,968 1,692,798 2,780,178 3,429,254 4,193,932 5,093,054 6,097,461 Worker remit. & comp. of employees 27,283 52,247 76,827 148,633 176,907 209,019 257,181 295,144 Imports of goods & services 689,868 1,265,959 1,681,390 2,646,498 3,181,154 3,823,669 4,683,422 5,720,994 International reserves 176,411 440,717 651,480 1,573,428 1,965,128 2,598,891 3,684,074 3,959,627 6. Ratios External debt stocks to exports (%) 161.7 146.1 118.2 87.4 71.6 63.6 64.6 58.2 External debt stocks to GNI (%) 31.4 36.0 36.0 31.0 26.4 24.3 24.3 21.9 Debt service to exports (%) 17.9 17.0 20.4 14.3 13.5 12.7 10.5 9.7 Short-term to external debt stocks (%) 15.8 18.3 14.0 18.1 20.6 22.3 25.4 23.2 Multilateral to external debt stocks (%) 14.5 12.8 12.8 11.8 11.3 10.4 8.9 8.7 Reserves to external debt stocks (%) 16.5 25.9 32.6 64.8 80.1 97.4 111.9 111.5 Reserves to imports (months) 3.1 4.2 4.6 7.1 7.4 8.2 9.4 8.3 40 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1990 1995 2000 2004 2005 2006 2007 2008 7. Long-term external debt Debt outstanding and disbursed 872,869 1,340,157 1,669,770 1,901,707 1,906,850 2,057,186 2,443,401 2,705,268 Public and publicly guaranteed 814,913 1,133,675 1,157,357 1,281,999 1,162,826 1,121,736 1,205,705 1,241,882 Official creditors 410,340 640,404 632,968 662,208 572,833 520,400 534,911 566,475 Multilateral 155,594 218,749 256,970 287,804 277,350 277,326 292,399 309,343 of which: IBRD 87,445 106,196 109,555 102,625 96,929 93,409 94,724 97,689 IDA 24,494 37,558 45,704 62,657 60,445 60,803 64,796 65,482 Bilateral 254,746 421,655 375,998 374,404 295,483 243,074 242,512 257,132 Private creditors 404,573 493,271 524,389 619,791 589,994 601,335 670,794 675,407 of which: Bonds 97,158 228,361 343,278 435,318 401,961 411,839 450,583 454,450 Commercial banks 212,004 144,000 117,189 137,730 147,770 153,861 189,396 193,173 Private nonguaranteed 57,956 206,482 512,414 619,708 744,023 935,450 1,237,695 1,463,386 of which: Bonds 347 51,018 92,704 123,066 156,168 196,493 260,467 248,937 Disbursements 89,659 174,346 223,426 335,044 414,929 498,236 695,319 678,106 Public and publicly guaranteed 72,702 120,737 123,421 132,432 144,281 133,281 172,165 166,088 Official creditors 38,500 57,959 44,805 38,360 36,612 44,316 46,837 57,766 Multilateral 21,420 25,905 28,530 26,447 26,359 32,329 34,491 40,385 of which: IBRD 13,073 12,561 13,268 10,415 9,407 12,097 10,483 13,677 IDA 1,788 2,931 2,472 3,697 3,325 3,384 3,132 2,742 Bilateral 17,080 32,055 16,274 11,913 10,254 11,987 12,346 17,381 Private creditors 34,202 62,778 78,616 94,072 107,668 88,964 125,328 108,322 of which: Bonds 3,915 22,286 54,797 59,710 63,988 55,575 66,002 61,714 Commercial banks 14,123 21,933 15,247 30,465 39,939 28,906 55,895 43,159 Private nonguaranteed 16,957 53,609 100,005 202,612 270,648 364,955 523,153 512,018 of which: Bonds 291 14,063 11,619 33,419 49,190 53,792 86,668 25,287 Principal repayments 57,646 107,054 212,980 280,635 314,656 381,206 384,230 439,688 Public and publicly guaranteed 50,587 81,112 109,807 121,608 147,986 190,508 123,318 141,718 Official creditors 18,738 38,872 43,373 55,296 73,335 95,208 49,592 47,545 Multilateral 9,896 17,334 20,768 28,821 24,355 34,311 23,928 24,421 of which: IBRD 7,560 11,073 9,474 15,090 12,273 17,342 10,935 11,057 IDA 182 356 617 1,072 1,167 1,316 1,373 1,620 Bilateral 8,842 21,538 22,604 26,475 48,980 60,897 25,663 23,124 Private creditors 31,849 42,239 66,434 66,311 74,650 95,300 73,726 94,173 of which: Bonds 4,240 11,061 32,679 33,188 41,588 59,142 40,093 50,887 Commercial banks 14,331 14,981 22,429 25,345 24,788 27,160 27,092 36,313 Private nonguaranteed 7,059 25,942 103,174 159,028 166,671 190,698 260,912 297,970 of which: Bonds 0 4,042 15,032 24,099 15,505 18,619 26,135 21,130 Interest payments 44,201 66,763 93,215 79,988 85,961 96,455 111,623 125,817 Public and publicly guaranteed 39,737 55,896 61,616 53,622 59,789 55,718 58,273 57,964 Official creditors 16,142 26,645 24,885 20,246 22,439 17,997 17,760 16,657 Multilateral 9,061 12,093 14,211 9,684 9,521 10,588 11,337 11,006 of which: IBRD 6,581 7,598 7,469 4,032 4,041 4,829 5,211 4,653 IDA 169 262 319 460 464 451 460 555 Bilateral 7,081 14,552 10,674 10,562 12,918 7,409 6,424 5,651 Private creditors 23,595 29,252 36,731 33,375 37,350 37,721 40,513 41,307 of which: Bonds 3,991 15,085 24,734 25,739 29,422 28,563 29,783 30,635 Commercial banks 14,470 7,730 8,549 5,724 6,390 7,665 8,950 8,953 Private nonguaranteed 4,464 10,867 31,599 26,367 26,172 40,737 53,350 67,852 of which: Bonds 3 3,172 7,955 8,474 9,421 14,718 17,231 17,053 8. Debt stock-flow reconciliation Total change in external debt stocks 78,660 165,358 -47,737 150,212 24,798 213,240 623,961 .. 750 Non-debt flows (bill US$) Net flows on external debt 55,699 138,750 200 -7,871 100,278 Debt 145,993 ratios182,956 (%) 546,825 298,361 Cross-currency valuation 35,475 6,346 -43,413 31,792 -66,318 24,699 39,329 .. 9. Debt restructurings Total amount rescheduled 75,040 29,299 59,817 150 6,989 29,754 4,050 2,096 .. Total amount forgiven 500 11,091 1,252 318 1,960 8,604 14,773 2,545 .. Debt buyback 3,583 132 16,879 1,110 736 5,450 6,018 .. 100 250 50 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2000 2001 2002 2003 2004 2005 2006 2007 2008 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 41 Country tables 43 AFGHANISTAN 1. Summary external debt data External debt stocks .. .. .. .. .. 929 1,974 2,200 Long-term external debt .. .. .. .. .. 911 1,894 2,096 Public and publicly guaranteed .. .. .. .. .. 911 1,894 2,096 Private nonguaranteed .. .. .. .. .. 0 0 0 Use of IMF credit .. 0 0 0 0 0 59 87 Short-term external debt .. .. .. .. .. 18 21 17 interest arrears on long-term .. .. .. .. .. 18 21 17 Memorandum items .. .. .. .. .. 87 89 56 .. .. .. .. .. 911 1,894 2,096 .. .. .. .. .. 0 0 0 .. .. .. .. .. 130 37 58 External debt flows Disbursements .. .. .. .. .. 146 202 143 Long-term external debt .. .. .. .. .. 146 147 108 IMF purchases .. 0 0 0 0 0 55 36 Principal repayments .. .. .. .. .. 3 4 4 Long-term external debt .. .. .. .. .. 3 4 4 IMF repurchases .. 0 0 0 0 0 0 0 Net flows .. .. .. .. .. 143 198 140 Long-term external debt .. .. .. .. .. 143 143 104 Short-term external debt .. .. .. .. .. 0 0 0 Interest payments .. .. .. .. .. 6 7 8 Long-term external debt .. .. .. .. .. 6 6 8 IMF charges .. 0 0 0 0 0 0 0 Short-term external debt .. .. .. .. .. 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) .. .. .. .. .. 242 243 300 Portfolio equity flows .. .. .. .. .. 0 0 0 Profit remittances on FDI .. .. .. .. .. 0 0 0 Grants (excluding technical coop.) .. .. .. .. .. 2,008 3,226 4,031 of which: Debt forgiveness grants .. .. .. .. .. 0 31 15 IDA grants .. .. .. 95 200 104 287 122 Memo: technical coop. grants .. .. .. .. .. 844 518 711 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. .. .. 0.0 0.0 0.0 Japanese yen .. .. .. .. .. 0.0 0.0 0.0 Pound sterling .. .. .. .. .. 2.8 1.3 0.0 Swiss franc .. .. .. .. .. 0.0 0.0 0.0 U.S.dollars .. .. .. .. .. 63.3 74.5 69.5 4. Average terms of new commitments Official creditors Interest (%) .. .. .. .. .. 1.2 1.4 0.5 Maturity (years) .. .. .. .. .. 39.8 31.6 34.6 Grace period (years) .. .. .. .. .. 10.3 8.1 10.0 Private creditors Interest (%) .. .. .. .. .. 0.0 0.0 0.0 Maturity (years) .. .. .. .. .. 0.0 0.0 0.0 Grace period (years) .. .. .. .. .. 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. .. .. .. 8,186 10,170 .. Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) .. .. .. .. .. 11.3 19.4 .. Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) .. .. .. .. .. 2.0 1.1 0.8 Multilateral to external debt stocks (%) .. .. .. .. .. 70.4 41.5 45.7 Reserves to external debt stocks (%) .. .. .. .. .. .. .. .. Reserves to imports (months) .. .. .. .. .. .. .. .. 44 AFGHANISTAN 7. Long-term external debt Debt outstanding and disbursed .. .. .. .. .. 911 1,894 2,096 Public and publicly guaranteed .. .. .. .. .. 911 1,894 2,096 Official creditors .. .. .. .. .. 910 1,893 2,095 Multilateral .. .. .. .. .. 654 819 1,004 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 227 294 343 399 444 Bilateral .. .. .. .. .. 257 1,074 1,091 Private creditors .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Disbursements .. .. .. .. .. 146 147 108 Public and publicly guaranteed .. .. .. .. .. 146 147 108 Official creditors .. .. .. .. .. 146 147 108 Multilateral .. .. .. .. .. 107 140 99 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 135 84 39 44 44 Bilateral .. .. .. .. .. 40 7 9 Private creditors .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Principal repayments .. .. .. .. .. 3 4 4 Public and publicly guaranteed .. .. .. .. .. 3 4 4 Official creditors .. .. .. .. .. 3 4 4 Multilateral .. .. .. .. .. 3 4 3 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 3 3 3 3 3 Bilateral .. .. .. .. .. 0 0 0 Private creditors .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Interest payments .. .. .. .. .. 6 6 8 Public and publicly guaranteed .. .. .. .. .. 6 6 8 Official creditors .. .. .. .. .. 6 6 8 Multilateral .. .. .. .. .. 6 6 7 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 2 3 3 3 3 Bilateral .. .. .. .. .. 0 0 0 Private creditors .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 0 of which: Bonds .. .. .. .. .. 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. .. .. .. 229 1,045 226 Net flows on external debt .. .. .. .. .. 143 198 140 Cross-currency valuation .. .. .. .. .. 25 31 -22 9. Debt restructurings Total amount rescheduled .. .. .. .. .. 95 842 52 Total amount forgiven .. .. .. .. .. 0 21 52 Debt buyback .. .. .. .. .. 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6 7 17 30 42 94 103 106 Interest 10 12 14 22 21 63 60 58 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: The effects of the 2006 Paris Club rescheduling and debt forgiveness from Russian Federation are reflected in the 2006 data. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $1,774 in thousands and $3,537 in thousands respectively. 45 ALBANIA 1. Summary external debt data External debt stocks .. 456 1,061 1,547 1,832 2,343 2,775 3,188 Long-term external debt .. 330 936 1,449 1,457 1,659 1,858 2,329 Public and publicly guaranteed .. 330 921 1,403 1,372 1,575 1,786 2,222 Private nonguaranteed .. 0 15 46 84 84 72 106 Use of IMF credit .. 65 88 97 92 93 90 80 Short-term external debt .. 62 37 1 283 591 827 779 interest arrears on long-term .. 2 3 1 1 1 1 0 Memorandum items .. 27 271 16 16 16 17 1 .. 330 920 1,403 1,372 1,575 1,786 2,222 .. 0 16 46 84 84 72 106 .. 183 173 281 181 311 280 610 External debt flows Disbursements .. 80 138 197 163 191 178 632 Long-term external debt .. 70 120 185 151 184 171 624 IMF purchases .. 11 19 12 12 7 7 8 Principal repayments .. 2 16 52 50 91 81 92 Long-term external debt .. 0 9 42 41 80 67 76 IMF repurchases .. 1 7 9 9 11 14 15 Net flows .. -99 130 -3 395 407 333 493 Long-term external debt .. 69 110 142 110 103 104 548 Short-term external debt .. -178 8 -148 282 308 236 -47 Interest payments .. 9 11 23 31 48 64 77 Long-term external debt .. 5 8 21 25 29 34 48 IMF charges .. 1 1 0 0 1 1 1 Short-term external debt .. 3 2 1 6 18 29 28 2. Other non-debt resource flows Foreign direct investment (net) .. 70 143 341 262 325 662 937 Portfolio equity flows .. 0 0 0 0 0 0 0 Profit remittances on FDI .. 4 0 0 2 5 9 202 Grants (excluding technical coop.) .. 77 161 110 153 147 148 190 of which: Debt forgiveness grants .. .. 2 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 33 54 92 90 100 84 109 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 29.4 28.2 31.2 35.3 47.2 Japanese yen .. 2.5 3.2 3.4 4.0 3.4 3.0 2.8 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 60.9 73.2 59.2 59.4 55.9 51.9 40.9 4. Average terms of new commitments Official creditors Interest (%) .. 3.4 3.5 2.3 2.3 3.4 4.3 1.9 Maturity (years) .. 25.4 29.7 19.8 20.4 20.2 20.7 28.3 Grace period (years) .. 7.5 10.5 7.6 7.4 6.6 5.3 8.3 Private creditors Interest (%) .. 3.0 0.0 0.0 0.0 0.3 5.3 6.2 Maturity (years) .. 22.7 0.0 0.0 0.0 29.9 11.2 15.4 Grace period (years) .. 11.7 0.0 0.0 0.0 18.8 1.7 6.0 5. Major economic aggregates Gross national income (GNI) .. 2,483 3,790 7,646 8,541 9,311 11,133 12,672 Exports of goods, services & income .. 760 1,350 2,839 3,208 3,805 4,712 5,524 Worker remit. & comp. of employees .. 427 598 1,161 1,290 1,359 1,468 1,495 Imports of goods & services .. 865 1,509 3,278 3,913 4,569 5,989 7,602 International reserves .. 265 646 1,388 1,440 1,813 2,162 2,364 Current account balance .. -12 -156 -358 -571 -671 -1,151 -1,924 6. Ratios External debt stocks to exports (%) .. 60.0 78.6 54.5 57.1 61.6 58.9 57.7 External debt stocks to GNI (%) .. 18.4 28.0 20.2 21.4 25.2 24.9 25.2 Debt service to exports (%) .. 1.4 2.0 2.6 2.5 3.7 3.1 3.0 Short-term to external debt stocks (%) .. 13.7 3.5 0.1 15.5 25.2 29.8 24.4 Multilateral to external debt stocks (%) .. 25.1 40.2 56.6 47.4 43.2 42.5 40.6 Reserves to external debt stocks (%) .. 58.1 60.9 89.7 78.6 77.4 77.9 74.1 Reserves to imports (months) .. 3.7 5.1 5.1 4.4 4.8 4.3 3.7 46 ALBANIA 7. Long-term external debt Debt outstanding and disbursed .. 330 936 1,449 1,457 1,659 1,858 2,329 Public and publicly guaranteed .. 330 921 1,403 1,372 1,575 1,786 2,222 Official creditors .. 305 899 1,380 1,350 1,552 1,765 1,881 Multilateral .. 115 426 876 868 1,013 1,179 1,295 of which: IBRD .. 0 0 0 0 0 6 17 IDA .. 109 346 677 655 729 803 817 Bilateral .. 190 473 503 482 539 586 586 Private creditors .. 25 22 23 22 23 21 342 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 326 Private nonguaranteed .. 0 15 46 84 84 72 106 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 70 120 185 151 184 171 624 Public and publicly guaranteed .. 70 120 148 116 168 164 566 Official creditors .. 70 120 148 116 168 163 210 Multilateral .. 48 101 113 82 115 131 171 of which: IBRD .. 0 0 0 0 0 5 12 IDA .. 43 64 67 34 46 48 27 Bilateral .. 22 19 35 34 53 32 39 Private creditors .. 0 0 0 0 0 1 356 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 345 Private nonguaranteed .. 0 0 36 35 15 7 58 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 9 42 41 80 67 76 Public and publicly guaranteed .. 0 9 36 40 57 55 59 Official creditors .. 0 8 36 39 54 52 59 Multilateral .. 0 2 15 18 24 26 28 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 3 4 5 6 7 Bilateral .. 0 6 20 21 31 26 31 Private creditors .. 0 1 1 1 3 4 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 6 1 23 11 18 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 5 8 21 25 29 34 48 Public and publicly guaranteed .. 5 7 20 23 25 31 44 Official creditors .. 4 7 20 23 25 31 35 Multilateral .. 1 4 12 14 14 18 24 of which: IBRD .. 0 0 0 0 0 0 1 IDA .. 1 2 5 5 6 6 6 Bilateral .. 3 3 8 9 11 13 11 Private creditors .. 1 0 0 0 0 0 9 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 9 Private nonguaranteed .. 0 1 1 2 4 3 4 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. -427 352 63 284 511 432 413 Net flows on external debt .. -99 130 -3 395 407 333 493 Cross-currency valuation .. 8 -35 63 -121 85 100 -37 9. Debt restructurings Total amount rescheduled .. 6 28 0 10 9 0 8 Total amount forgiven .. 116 0 4 0 2 0 0 Debt buyback .. 30 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 87 103 116 125 131 135 135 125 Interest 38 42 43 42 40 37 33 30 Private creditors Principal 5 12 14 18 28 66 48 38 Interest 19 19 19 18 16 15 13 11 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. 47 ALGERIA 1. Summary external debt data External debt stocks 28,149 33,042 25,381 22,178 16,862 5,721 5,757 5,476 Long-term external debt 26,688 31,303 23,441 21,105 16,346 5,180 5,007 4,172 Public and publicly guaranteed 26,688 31,303 23,441 20,395 15,480 3,876 3,892 3,011 Private nonguaranteed 0 0 0 710 866 1,304 1,115 1,161 Use of IMF credit 670 1,478 1,718 643 0 0 0 0 Short-term external debt 791 261 222 431 516 541 750 1,304 interest arrears on long-term 0 3 0 0 0 0 0 0 Memorandum items 1 1 0 0 0 0 0 0 26,608 31,214 23,319 20,190 15,306 3,816 3,784 2,930 80 89 122 914 1,040 1,364 1,222 1,242 8,054 2,427 1,419 1,421 331 208 94 0 External debt flows Disbursements 7,017 4,157 1,215 2,112 1,239 842 425 331 Long-term external debt 7,017 3,683 1,215 2,112 1,239 842 425 331 IMF purchases 0 475 0 0 0 0 0 0 Principal repayments 6,780 2,419 2,814 4,706 5,062 12,791 1,159 1,085 Long-term external debt 6,780 2,248 2,722 4,334 4,450 12,791 1,159 1,085 IMF repurchases 0 171 93 372 612 0 0 0 Net flows -811 1,361 -1,573 -2,308 -3,738 -11,924 -525 -199 Long-term external debt 237 1,435 -1,507 -2,222 -3,211 -11,949 -734 -753 Short-term external debt -1,049 -378 27 285 85 25 209 554 Interest payments 2,025 1,832 1,655 1,033 921 626 235 194 Long-term external debt 1,784 1,741 1,552 1,001 888 610 213 163 IMF charges 62 69 92 22 18 1 0 0 Short-term external debt 179 22 10 10 15 15 22 31 2. Other non-debt resource flows Foreign direct investment (net) 0 0 438 882 1,081 1,795 1,665 2,646 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 151 0 0 0 0 0 0 0 Grants (excluding technical coop.) 45 70 61 99 124 118 158 137 of which: Debt forgiveness grants .. .. 0 0 38 24 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 106 101 76 189 198 200 228 177 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 42.0 40.5 58.4 61.8 60.5 Japanese yen 15.1 13.1 14.4 11.1 8.2 6.1 4.9 5.5 Pound sterling 1.5 0.9 1.0 2.0 1.4 0.0 0.0 0.0 Swiss franc 0.8 0.7 0.5 1.0 0.8 0.1 0.1 0.0 U.S.dollars 33.5 38.0 44.5 36.1 41.0 30.0 26.8 28.6 4. Average terms of new commitments Official creditors Interest (%) 7.0 6.2 6.2 3.0 3.2 0.5 0.9 0.0 Maturity (years) 16.8 11.7 14.9 13.3 12.9 16.8 14.7 0.0 Grace period (years) 4.0 3.3 4.1 3.3 3.6 3.2 7.7 0.0 Private creditors Interest (%) 8.9 7.2 6.2 4.0 2.6 3.5 4.6 0.0 Maturity (years) 6.6 8.9 7.4 11.1 9.6 12.0 6.0 0.0 Grace period (years) 2.0 1.9 1.9 2.2 2.0 3.1 0.9 0.0 5. Major economic aggregates Gross national income (GNI) 59,955 39,574 52,080 81,414 97,259 111,940 132,594 171,880 Exports of goods, services & income 13,887 .. .. .. .. .. .. .. Worker remit. & comp. of employees 352 1,120 790 2,460 2,060 1,610 2,120 2,202 Imports of goods & services 12,448 .. .. .. .. .. .. .. International reserves 2,703 4,164 13,556 45,692 59,167 81,463 114,972 148,099 Current account balance 1,420 .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 202.7 .. .. .. .. .. .. .. External debt stocks to GNI (%) 47.0 83.5 48.7 27.2 17.3 5.1 4.3 3.2 Debt service to exports (%) 63.4 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 2.8 0.8 0.9 1.9 3.1 9.5 13.0 23.8 Multilateral to external debt stocks (%) 7.2 11.8 16.2 15.8 14.5 2.5 2.4 0.4 Reserves to external debt stocks (%) 9.6 12.6 53.4 206.0 350.9 1,424.0 1,997.2 2,704.7 Reserves to imports (months) 2.6 .. .. .. .. .. .. .. 48 ALGERIA 7. Long-term external debt Debt outstanding and disbursed 26,688 31,303 23,441 21,105 16,346 5,180 5,007 4,172 Public and publicly guaranteed 26,688 31,303 23,441 20,395 15,480 3,876 3,892 3,011 Official creditors 5,866 15,685 17,589 15,948 12,419 2,170 2,314 2,001 Multilateral 2,031 3,915 4,123 3,508 2,444 145 137 20 of which: IBRD 1,208 2,049 1,425 909 779 119 113 11 IDA 0 0 0 0 0 0 0 0 Bilateral 3,835 11,770 13,466 12,439 9,975 2,025 2,178 1,981 Private creditors 20,822 15,618 5,851 4,447 3,062 1,706 1,578 1,011 of which: Bonds 1,420 0 0 0 0 0 0 0 Commercial banks 5,851 4,529 2,508 1,454 1,038 59 76 60 Private nonguaranteed 0 0 0 710 866 1,304 1,115 1,161 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 7,017 3,683 1,215 2,112 1,239 842 425 331 Public and publicly guaranteed 7,017 3,683 1,215 1,828 776 391 167 100 Official creditors 1,835 1,596 795 907 446 252 109 85 Multilateral 612 932 349 424 358 54 6 11 of which: IBRD 300 554 58 40 31 16 6 5 IDA 0 0 0 0 0 0 0 0 Bilateral 1,223 664 446 483 88 199 103 74 Private creditors 5,182 2,087 420 921 330 138 58 15 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 206 222 0 9 8 34 20 0 Private nonguaranteed 0 0 0 285 463 451 259 231 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 6,780 2,248 2,722 4,334 4,450 12,791 1,159 1,085 Public and publicly guaranteed 6,780 2,248 2,722 4,118 4,222 12,640 595 910 Official creditors 1,174 671 1,056 2,702 2,849 10,938 202 364 Multilateral 312 454 351 1,201 1,190 2,396 16 127 of which: IBRD 130 260 172 189 156 677 12 107 IDA 0 0 0 0 0 0 0 0 Bilateral 862 217 705 1,500 1,658 8,542 186 236 Private creditors 5,606 1,577 1,666 1,417 1,373 1,702 392 546 of which: Bonds 16 278 0 0 0 0 0 0 Commercial banks 1,330 220 439 380 348 1,029 10 13 Private nonguaranteed 0 0 0 216 229 151 565 175 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1,784 1,741 1,552 1,001 888 610 213 163 Public and publicly guaranteed 1,784 1,741 1,552 984 863 557 145 113 Official creditors 312 823 1,131 825 711 441 61 49 Multilateral 117 251 297 217 163 118 7 12 of which: IBRD 73 137 128 60 46 21 6 12 IDA 0 0 0 0 0 0 0 0 Bilateral 195 572 834 608 547 322 53 37 Private creditors 1,472 917 421 159 152 116 84 63 of which: Bonds 105 13 0 0 0 0 0 0 Commercial banks 526 251 146 37 34 30 2 2 Private nonguaranteed 0 0 0 17 25 53 68 50 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 912 2,809 -2,618 -1,363 -5,316 -11,141 36 -281 Net flows on external debt -811 1,361 -1,573 -2,308 -3,738 -11,924 -525 -199 Cross-currency valuation 1,669 687 -1,144 922 -1,590 775 254 -87 9. Debt restructurings Total amount rescheduled 0 5,096 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 408 306 209 196 188 215 184 141 Interest 49 44 40 36 32 28 23 19 Private creditors Principal 730 351 284 381 116 84 72 71 Interest 67 45 33 24 17 13 10 7 Notes: Short-term debt data are reported by the country. 49 ANGOLA 1. Summary external debt data External debt stocks 8,592 11,500 9,408 9,362 11,822 9,469 11,516 15,130 Long-term external debt 7,603 9,543 8,085 8,166 9,506 7,337 9,245 12,711 Public and publicly guaranteed 7,603 9,543 8,085 8,166 9,506 7,337 9,245 12,711 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 989 1,958 1,323 1,196 2,316 2,132 2,271 2,419 interest arrears on long-term 204 1,232 874 673 577 161 90 71 Memorandum items 496 4,190 2,853 2,179 1,877 700 351 279 7,599 9,513 8,059 8,154 9,495 7,331 9,244 12,710 5 29 26 12 12 7 2 1 523 426 1,033 5,284 14,150 2,036 4,378 4,188 External debt flows Disbursements 862 550 1,045 2,602 3,664 1,224 5,650 4,624 Long-term external debt 862 550 1,045 2,602 3,664 1,224 5,650 4,624 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 183 332 1,530 1,702 2,289 3,513 3,756 1,132 Long-term external debt 183 332 1,530 1,702 2,289 3,513 3,756 1,132 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 977 -90 -733 1,239 2,591 -2,057 2,104 3,659 Long-term external debt 679 218 -485 900 1,375 -2,289 1,894 3,492 Short-term external debt 298 -308 -248 339 1,216 232 210 167 Interest payments 143 132 175 174 313 908 681 511 Long-term external debt 100 79 149 166 257 824 577 443 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 43 53 26 9 57 83 104 68 2. Other non-debt resource flows Foreign direct investment (net) -335 472 879 1,449 -1,304 -38 -893 1,679 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 314 386 929 1,950 3,406 5,278 7,268 13,185 Grants (excluding technical coop.) 192 328 206 365 303 295 302 281 of which: Debt forgiveness grants .. .. 1 0 0 0 0 30 IDA grants .. .. .. 3 6 16 25 16 Memo: technical coop. grants 36 73 47 70 81 73 45 66 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 11.3 8.2 6.2 6.4 7.6 Japanese yen 0.3 0.3 0.5 0.5 0.3 0.0 0.0 0.0 Pound sterling 1.4 0.9 1.0 1.2 0.9 0.2 0.2 0.1 Swiss franc 0.7 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 80.7 81.0 86.3 83.4 87.8 90.4 91.1 90.6 4. Average terms of new commitments Official creditors Interest (%) 5.7 8.1 0.8 3.1 6.5 1.1 0.4 0.6 Maturity (years) 14.1 9.9 39.8 13.4 13.8 10.9 12.1 43.4 Grace period (years) 3.7 0.4 10.3 1.5 2.0 1.5 2.7 10.4 Private creditors Interest (%) 7.7 8.1 5.0 2.9 6.6 8.0 6.3 4.6 Maturity (years) 7.7 8.6 3.1 6.8 7.7 9.0 6.8 7.4 Grace period (years) 1.8 0.4 1.3 0.6 1.3 0.8 1.0 0.8 5. Major economic aggregates Gross national income (GNI) 8,214 3,688 7,449 17,295 26,601 39,679 50,485 70,958 Exports of goods, services & income 4,003 3,852 8,222 13,831 24,312 33,492 45,329 64,737 Worker remit. & comp. of employees .. .. .. .. .. .. .. 82 Imports of goods & services 4,161 4,302 7,454 13,151 19,201 22,612 34,913 58,048 International reserves .. 213 1,198 1,374 3,197 8,599 11,197 18,359 Current account balance -236 -295 796 686 5,138 10,690 10,194 6,408 6. Ratios External debt stocks to exports (%) 214.6 298.6 114.4 67.7 48.6 28.3 25.4 23.4 External debt stocks to GNI (%) 104.6 311.9 126.3 54.1 44.4 23.9 22.8 21.3 Debt service to exports (%) 8.1 12.0 20.7 13.6 10.7 13.2 9.8 2.5 Short-term to external debt stocks (%) 11.5 17.0 14.1 12.8 19.6 22.5 19.7 16.0 Multilateral to external debt stocks (%) 0.7 1.7 3.1 4.1 3.1 4.2 3.6 2.8 Reserves to external debt stocks (%) .. 1.9 12.7 14.7 27.0 90.8 97.2 121.3 Reserves to imports (months) .. 0.6 1.9 1.3 2.0 4.6 3.8 3.8 50 ANGOLA 7. Long-term external debt Debt outstanding and disbursed 7,603 9,543 8,085 8,166 9,506 7,337 9,245 12,711 Public and publicly guaranteed 7,603 9,543 8,085 8,166 9,506 7,337 9,245 12,711 Official creditors 1,839 2,226 2,703 3,301 3,162 2,578 3,200 4,005 Multilateral 57 191 294 379 371 396 416 421 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 81 226 318 319 347 365 369 Bilateral 1,782 2,035 2,409 2,921 2,791 2,182 2,784 3,583 Private creditors 5,765 7,316 5,382 4,865 6,344 4,760 6,045 8,707 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 143 873 2,625 3,484 5,062 3,928 5,248 7,790 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 862 550 1,045 2,602 3,664 1,224 5,650 4,624 Public and publicly guaranteed 862 550 1,045 2,602 3,664 1,224 5,650 4,624 Official creditors 169 119 34 561 309 508 954 1,103 Multilateral 5 30 24 25 34 21 9 16 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 30 24 19 30 18 8 12 Bilateral 164 89 10 537 275 487 945 1,087 Private creditors 693 431 1,011 2,041 3,355 717 4,695 3,521 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 17 396 1,010 1,969 3,236 573 4,562 3,276 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 183 332 1,530 1,702 2,289 3,513 3,756 1,132 Public and publicly guaranteed 183 332 1,530 1,702 2,289 3,513 3,756 1,132 Official creditors 59 24 268 523 505 1,206 353 278 Multilateral 4 2 27 9 8 15 7 8 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 6 5 5 5 6 Bilateral 56 22 241 515 497 1,191 347 270 Private creditors 123 308 1,262 1,178 1,784 2,307 3,402 854 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 8 108 1,149 957 1,654 1,713 3,253 715 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 100 79 149 166 257 824 577 443 Public and publicly guaranteed 100 79 149 166 257 824 577 443 Official creditors 19 12 36 22 61 364 162 118 Multilateral 2 1 28 4 4 7 3 4 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 2 3 3 3 2 3 Bilateral 16 12 8 18 57 356 159 114 Private creditors 81 67 113 144 195 460 415 325 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 33 93 100 160 330 352 260 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,303 207 -891 667 2,460 -2,353 2,047 3,614 Net flows on external debt 977 -90 -733 1,239 2,591 -2,057 2,104 3,659 Cross-currency valuation 150 76 -78 79 -178 126 71 -38 9. Debt restructurings Total amount rescheduled 252 437 0 985 0 2 21 67 Total amount forgiven 0 0 0 204 122 400 72 18 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,434 1,481 1,481 1,480 1,474 1,441 1,418 1,411 Interest 165 278 322 316 287 248 203 158 Private creditors Principal 1,842 1,804 1,728 1,613 1,431 1,085 497 75 Interest 271 234 187 137 89 46 18 10 51 ARGENTINA 1. Summary external debt data External debt stocks 62,233 98,465 140,914 162,379 124,979 115,863 127,672 128,285 Long-term external debt 48,676 70,979 107,543 121,827 80,626 82,234 89,602 90,762 Public and publicly guaranteed 46,876 54,913 81,633 98,016 54,225 60,754 66,021 66,410 Private nonguaranteed 1,800 16,066 25,909 23,811 26,401 21,480 23,581 24,352 Use of IMF credit 3,083 6,131 5,056 14,091 9,513 0 0 0 Short-term external debt 10,473 21,355 28,315 26,461 34,841 33,630 38,070 37,523 interest arrears on long-term 7,590 0 0 16,461 7,735 7,452 8,842 9,435 Memorandum items 4,372 0 0 25,703 11,193 12,125 14,547 16,952 44,707 54,891 81,582 97,991 54,205 60,655 65,927 66,321 3,969 16,088 25,961 23,836 26,421 21,578 23,675 24,440 572 8,381 11,986 1,334 2,462 5,747 6,843 4,504 External debt flows Disbursements 1,587 11,319 20,853 6,282 4,490 6,789 9,090 6,902 Long-term external debt 1,150 8,954 18,759 2,813 4,490 6,789 9,090 6,902 IMF purchases 437 2,365 2,094 3,469 0 0 0 0 Principal repayments 3,443 3,532 15,679 10,466 7,509 14,809 5,171 5,461 Long-term external debt 2,745 3,048 14,400 4,962 3,938 5,016 5,171 5,461 IMF repurchases 697 484 1,280 5,504 3,571 9,793 0 0 Net flows -1,856 21,972 4,074 -4,531 14,087 -8,948 6,969 301 Long-term external debt -1,595 5,906 4,359 -2,149 552 1,773 3,919 1,441 Short-term external debt 0 14,185 -1,100 -347 17,106 -928 3,050 -1,140 Interest payments 2,716 5,322 11,163 2,362 2,954 4,089 4,450 4,090 Long-term external debt 2,208 4,320 9,236 1,550 2,100 2,959 2,900 2,840 IMF charges 277 274 195 554 510 83 0 0 Short-term external debt 231 727 1,732 258 344 1,047 1,550 1,250 2. Other non-debt resource flows Foreign direct investment (net) 1,836 5,609 10,418 4,125 5,265 5,537 6,473 8,853 Portfolio equity flows 0 1,552 -3,227 -86 -48 707 1,785 -531 Profit remittances on FDI 637 2,129 3,086 3,712 5,456 7,112 7,283 7,898 Grants (excluding technical coop.) 21 36 30 32 27 48 77 76 of which: Debt forgiveness grants .. .. 0 0 0 0 3 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 71 84 53 62 61 55 53 64 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 30.7 36.6 36.6 37.8 35.8 Japanese yen 6.7 9.2 6.2 4.6 2.7 2.5 2.4 3.0 Pound sterling 1.1 0.2 0.6 0.4 0.1 0.1 0.1 0.1 Swiss franc 2.2 1.6 0.4 0.5 0.4 0.4 0.4 0.4 U.S.dollars 54.5 57.5 61.0 60.0 54.4 55.9 55.8 57.8 4. Average terms of new commitments Official creditors Interest (%) 6.5 6.5 7.2 3.1 4.2 5.5 5.9 3.0 Maturity (years) 19.2 16.3 18.2 16.0 17.3 20.3 20.5 20.0 Grace period (years) 4.0 4.7 4.8 4.2 4.6 5.0 5.4 4.2 Private creditors Interest (%) 6.0 7.4 10.0 0.0 5.0 5.7 6.6 6.8 Maturity (years) 8.4 4.8 11.6 0.0 8.4 11.1 13.7 12.8 Grace period (years) 1.3 4.6 11.6 0.0 3.7 6.0 11.5 11.3 5. Major economic aggregates Gross national income (GNI) 135,150 253,396 276,656 144,211 176,575 208,660 257,158 321,269 Exports of goods, services & income 16,654 29,396 38,747 43,855 51,715 60,701 73,302 88,914 Worker remit. & comp. of employees .. 56 86 312 432 541 607 691 Imports of goods & services 13,100 35,070 48,076 40,934 46,543 52,954 65,933 80,682 International reserves 6,222 15,979 25,152 19,660 28,082 32,022 46,149 46,385 Current account balance 4,552 -5,118 -8,981 3,212 5,275 7,709 7,103 7,588 6. Ratios External debt stocks to exports (%) 373.7 335.0 363.7 370.3 241.7 190.9 174.2 144.3 External debt stocks to GNI (%) 46.0 38.9 50.9 112.6 70.8 55.5 49.6 39.9 Debt service to exports (%) 37.0 30.1 69.3 29.3 20.2 31.1 13.1 10.7 Short-term to external debt stocks (%) 16.8 21.7 20.1 16.3 27.9 29.0 29.8 29.2 Multilateral to external debt stocks (%) 8.0 9.5 11.5 10.0 12.5 12.9 11.7 11.4 Reserves to external debt stocks (%) 10.0 16.2 17.8 12.1 22.5 27.6 36.1 36.2 Reserves to imports (months) 5.7 5.5 6.3 5.8 7.2 7.3 8.4 6.9 52 ARGENTINA 7. Long-term external debt Debt outstanding and disbursed 48,676 70,979 107,543 121,827 80,626 82,234 89,602 90,762 Public and publicly guaranteed 46,876 54,913 81,633 98,016 54,225 60,754 66,021 66,410 Official creditors 11,226 20,658 20,484 21,472 20,344 20,184 20,444 20,278 Multilateral 5,007 9,373 16,235 16,271 15,571 14,984 14,910 14,643 of which: IBRD 2,609 4,913 8,789 7,447 6,881 6,206 5,674 5,069 IDA 0 0 0 0 0 0 0 0 Bilateral 6,219 11,285 4,249 5,200 4,774 5,200 5,535 5,636 Private creditors 35,650 34,255 61,149 76,544 33,881 40,569 45,577 46,131 of which: Bonds 11,514 32,670 60,622 75,976 33,373 40,018 44,979 45,566 Commercial banks 22,631 793 294 184 171 201 211 205 Private nonguaranteed 1,800 16,066 25,909 23,811 26,401 21,480 23,581 24,352 of which: Bonds 21 7,582 11,138 6,091 8,772 10,138 12,073 7,921 Disbursements 1,150 8,954 18,759 2,813 4,490 6,789 9,090 6,902 Public and publicly guaranteed 1,129 6,604 14,277 1,156 3,183 3,893 5,648 3,912 Official creditors 910 2,804 1,937 1,135 989 1,666 2,386 1,886 Multilateral 736 1,936 1,923 1,112 985 1,662 2,374 1,865 of which: IBRD 405 941 1,019 770 362 459 505 332 IDA 0 0 0 0 0 0 0 0 Bilateral 174 868 13 23 4 4 12 22 Private creditors 219 3,800 12,340 21 2,194 2,227 3,263 2,025 of which: Bonds 0 3,630 12,338 21 2,194 2,227 3,263 2,025 Commercial banks 183 105 2 0 0 0 0 0 Private nonguaranteed 21 2,350 4,482 1,656 1,307 2,896 3,441 2,990 of which: Bonds 21 834 1,408 896 540 896 2,241 0 Principal repayments 2,745 3,048 14,400 4,962 3,938 5,016 5,171 5,461 Public and publicly guaranteed 2,745 1,783 8,896 1,818 1,672 2,539 3,230 2,351 Official creditors 454 1,356 1,837 1,351 1,489 2,362 2,676 2,348 Multilateral 405 512 825 1,319 1,462 2,354 2,568 2,256 of which: IBRD 233 259 538 832 928 1,134 1,037 936 IDA 0 0 0 0 0 0 0 0 Bilateral 49 844 1,012 33 27 9 108 92 Private creditors 2,292 427 7,059 467 183 177 554 3 of which: Bonds 878 128 6,842 466 182 175 554 3 Commercial banks 1,342 158 162 0 0 1 0 0 Private nonguaranteed 0 1,265 5,503 3,143 2,266 2,477 1,941 3,110 of which: Bonds 0 631 2,309 1,565 680 1,303 606 2,009 Interest payments 2,208 4,320 9,236 1,550 2,100 2,959 2,900 2,840 Public and publicly guaranteed 2,064 3,435 7,196 702 1,392 1,309 1,618 1,635 Official creditors 456 1,374 1,589 666 751 842 868 754 Multilateral 375 617 1,256 660 747 838 864 719 of which: IBRD 181 306 701 233 288 346 350 258 IDA 0 0 0 0 0 0 0 0 Bilateral 81 757 334 5 5 4 4 35 Private creditors 1,608 2,062 5,606 36 641 467 750 881 of which: Bonds 973 1,960 5,465 36 640 466 750 881 Commercial banks 621 56 121 0 0 0 0 0 Private nonguaranteed 144 885 2,041 848 708 1,650 1,282 1,206 of which: Bonds 0 641 1,109 675 585 1,135 759 710 8. Debt stock-flow reconciliation Total change in external debt stocks -3,024 23,646 570 2,101 -37,399 -9,116 11,808 613 Net flows on external debt -1,856 21,972 4,074 -4,531 14,087 -8,948 6,969 301 Cross-currency valuation 1,346 -153 -2,606 4,752 -6,234 2,619 2,856 -836 9. Debt restructurings Total amount rescheduled 932 248 0 0 20,136 2,096 983 0 Total amount forgiven 5,970 863 689 0 40,333 3 0 0 Debt buyback 1,232 0 2,745 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 1,849 1,868 2,018 2,133 1,758 1,654 1,574 1,449 Interest 706 668 626 576 520 462 405 352 Private creditors Principal 5,785 4,829 4,282 2,645 2,934 1,432 4,647 1,642 Interest 2,899 2,802 2,500 2,314 2,164 2,073 1,985 1,656 Notes: Provincial debt, long-term private nonguaranteed debt data are World Bank staff estimates. Short-term debt data for 2008 are World Bank staff estimates. Historical data revisions are due to the reversing process of converting to US$ the debt that was previously converted to Argentina Pesos. Data include the effects of June 2005 Bond restructuring. 53 ARMENIA 1. Summary external debt data External debt stocks .. 371 916 1,970 1,842 2,004 2,898 3,418 Long-term external debt .. 298 697 1,342 1,368 1,533 2,281 2,818 Public and publicly guaranteed .. 298 675 961 923 1,037 1,282 1,446 Private nonguaranteed .. 0 21 381 446 496 999 1,373 Use of IMF credit .. 70 175 218 176 164 158 135 Short-term external debt .. 2 44 410 298 307 459 465 interest arrears on long-term .. 1 6 0 0 0 0 0 Memorandum items .. 75 4 0 0 0 0 0 .. 298 675 961 923 1,037 1,282 1,446 .. 0 21 381 446 496 999 1,373 .. 131 74 116 251 65 203 201 External debt flows Disbursements .. 148 84 166 177 175 761 783 Long-term external debt .. 102 84 138 168 165 751 776 IMF purchases .. 46 0 28 10 10 10 7 Principal repayments .. 3 31 116 104 80 82 280 Long-term external debt .. 3 15 81 69 49 58 253 IMF repurchases .. 0 16 35 34 31 24 27 Net flows .. 147 42 56 -38 104 831 510 Long-term external debt .. 100 69 56 98 116 693 523 Short-term external debt .. 1 -11 6 -112 9 152 6 Interest payments .. 8 15 53 35 70 107 86 Long-term external debt .. 7 9 39 23 59 91 70 IMF charges .. 2 3 1 1 1 1 1 Short-term external debt .. 0 2 12 11 11 15 16 2. Other non-debt resource flows Foreign direct investment (net) .. 25 104 248 239 453 699 935 Portfolio equity flows .. 0 0 1 1 -1 0 -1 Profit remittances on FDI .. 0 22 147 170 244 332 279 Grants (excluding technical coop.) .. 91 61 63 64 58 127 132 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 39 94 97 84 104 42 37 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.6 8.0 8.8 9.0 8.7 Japanese yen .. 0.0 0.0 0.2 0.2 0.4 7.0 12.1 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 62.6 93.3 87.7 86.3 82.6 71.2 62.9 4. Average terms of new commitments Official creditors Interest (%) .. 1.3 0.8 0.8 0.8 0.8 1.5 1.2 Maturity (years) .. 32.6 35.7 39.4 39.6 32.2 24.4 32.1 Grace period (years) .. 9.2 10.2 10.2 10.0 10.3 8.7 8.8 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 1,466 1,964 3,684 5,033 6,600 9,483 12,388 Exports of goods, services & income .. 366 560 1,511 1,931 2,209 2,682 2,875 Worker remit. & comp. of employees .. 65 87 435 498 658 846 1,062 Imports of goods & services .. 741 1,017 1,918 2,449 2,946 4,122 5,272 International reserves .. 111 314 548 669 1,072 1,659 1,407 Current account balance .. -218 -278 -20 -52 -117 -590 -1,383 6. Ratios External debt stocks to exports (%) .. 101.1 163.7 130.4 95.4 90.7 108.1 118.9 External debt stocks to GNI (%) .. 25.3 46.6 53.5 36.6 30.4 30.6 27.6 Debt service to exports (%) .. 3.1 8.2 11.2 7.2 6.8 7.0 12.7 Short-term to external debt stocks (%) .. 0.6 4.8 20.8 16.2 15.3 15.8 13.6 Multilateral to external debt stocks (%) .. 56.1 52.9 43.0 43.9 45.1 35.9 32.5 Reserves to external debt stocks (%) .. 30.0 34.3 27.8 36.3 53.5 57.2 41.2 Reserves to imports (months) .. 1.8 3.7 3.4 3.3 4.4 4.8 3.2 54 ARMENIA 7. Long-term external debt Debt outstanding and disbursed .. 298 697 1,342 1,368 1,533 2,281 2,818 Public and publicly guaranteed .. 298 675 961 923 1,037 1,282 1,446 Official creditors .. 298 658 959 921 1,036 1,281 1,444 Multilateral .. 208 485 848 808 905 1,041 1,111 of which: IBRD .. 5 8 8 6 6 5 5 IDA .. 91 388 773 746 841 965 1,025 Bilateral .. 90 173 111 113 131 240 333 Private creditors .. 0 17 1 1 1 1 1 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 5 0 0 0 0 0 Private nonguaranteed .. 0 21 381 446 496 999 1,373 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 102 84 138 168 165 751 776 Public and publicly guaranteed .. 102 63 94 50 83 207 164 Official creditors .. 102 62 94 50 83 207 164 Multilateral .. 102 58 83 37 72 110 92 of which: IBRD .. 3 0 0 0 0 0 0 IDA .. 88 54 78 34 64 93 80 Bilateral .. 0 4 11 14 11 97 72 Private creditors .. 0 1 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 21 44 117 82 544 612 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 3 15 81 69 49 58 253 Public and publicly guaranteed .. 3 15 51 16 17 17 15 Official creditors .. 3 13 51 16 17 17 15 Multilateral .. 0 8 18 14 15 15 13 of which: IBRD .. 0 0 1 1 1 1 1 IDA .. 0 0 1 3 6 7 11 Bilateral .. 3 5 33 2 2 2 2 Private creditors .. 0 2 1 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 30 53 32 42 238 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 7 9 39 23 59 91 70 Public and publicly guaranteed .. 7 9 8 9 9 10 11 Official creditors .. 7 9 8 9 9 10 11 Multilateral .. 7 8 7 8 8 8 9 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 3 6 6 6 7 8 Bilateral .. 0 1 1 2 2 2 2 Private creditors .. 0 0 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 0 31 14 49 81 58 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 156 15 106 -127 162 894 520 Net flows on external debt .. 147 42 56 -38 104 831 510 Cross-currency valuation .. -6 -31 48 -87 56 58 5 9. Debt restructurings Total amount rescheduled .. 0 14 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 22 24 27 29 30 45 47 56 Interest 13 14 15 15 15 15 14 14 Private creditors Principal 355 280 243 145 109 77 64 51 Interest 51 37 25 18 12 8 5 3 Notes: Short-term debt is based on reports provided by the country. 55 AZERBAIJAN 1. Summary external debt data External debt stocks .. 321 1,328 1,949 2,043 2,586 3,593 4,309 Long-term external debt .. 206 836 1,602 1,693 1,932 2,447 3,061 Public and publicly guaranteed .. 206 737 1,372 1,506 1,828 2,304 2,734 Private nonguaranteed .. 0 99 230 187 104 143 327 Use of IMF credit .. 101 336 208 164 134 103 79 Short-term external debt .. 14 156 138 186 520 1,043 1,169 interest arrears on long-term .. 6 0 0 0 0 0 0 Memorandum items .. 36 0 0 0 0 0 0 .. 206 737 1,372 1,506 1,828 2,304 2,734 .. 0 99 230 187 104 143 327 .. 188 202 127 1,387 412 723 1,928 External debt flows Disbursements .. 205 256 311 449 468 490 727 Long-term external debt .. 102 256 311 430 468 490 727 IMF purchases .. 103 0 0 19 0 0 0 Principal repayments .. 0 74 206 198 215 114 186 Long-term external debt .. 0 22 147 150 178 77 164 IMF repurchases .. 0 51 60 48 37 37 22 Net flows .. 207 309 139 300 587 899 668 Long-term external debt .. 102 234 164 281 290 413 563 Short-term external debt .. 2 127 35 48 334 523 126 Interest payments .. 10 56 26 36 55 88 112 Long-term external debt .. 9 37 20 27 39 69 79 IMF charges .. 1 14 3 2 2 1 1 Short-term external debt .. 0 5 4 6 15 18 33 2. Other non-debt resource flows Foreign direct investment (net) .. 330 130 3,556 1,680 -584 -4,749 15 Portfolio equity flows .. 0 0 0 0 1 2 0 Profit remittances on FDI .. 0 317 581 1,582 2,624 4,995 5,401 Grants (excluding technical coop.) .. 61 50 60 87 57 111 108 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 28 30 69 73 97 36 45 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.3 12.6 18.6 21.6 20.8 Japanese yen .. 0.0 20.8 31.5 24.8 19.8 16.6 17.3 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 6.5 6.3 4.1 3.1 2.4 1.9 U.S.dollars .. 51.4 65.8 53.6 54.1 52.5 51.8 51.9 4. Average terms of new commitments Official creditors Interest (%) .. 1.4 4.3 2.7 2.3 4.5 5.2 3.0 Maturity (years) .. 32.2 22.6 22.0 28.8 24.7 20.1 21.5 Grace period (years) .. 9.4 4.7 5.5 7.7 8.0 4.2 4.8 Private creditors Interest (%) .. 0.0 8.2 0.0 3.5 6.0 6.6 4.8 Maturity (years) .. 0.0 9.7 0.0 13.3 12.0 9.8 13.0 Grace period (years) .. 0.0 1.1 0.0 3.0 0.5 1.3 5.0 5. Major economic aggregates Gross national income (GNI) .. 3,039 4,987 7,980 11,599 18,302 27,971 40,992 Exports of goods, services & income .. 795 2,231 4,492 9,024 14,897 24,037 34,144 Worker remit. & comp. of employees .. 3 57 228 693 813 1,287 1,554 Imports of goods & services .. 1,306 2,415 7,078 8,850 11,093 14,831 17,325 International reserves .. 121 680 1,075 1,178 2,500 4,273 6,467 Current account balance .. -401 -168 -2,589 167 3,708 9,019 16,454 6. Ratios External debt stocks to exports (%) .. 40.4 59.5 43.4 22.6 17.4 14.9 12.6 External debt stocks to GNI (%) .. 10.6 26.6 24.4 17.6 14.1 12.8 10.5 Debt service to exports (%) .. 1.3 5.8 5.2 2.6 1.8 0.8 0.9 Short-term to external debt stocks (%) .. 4.4 11.8 7.1 9.1 20.1 29.0 27.1 Multilateral to external debt stocks (%) .. 30.8 24.3 32.5 30.8 28.4 26.8 26.4 Reserves to external debt stocks (%) .. 37.7 51.2 55.2 57.7 96.7 118.9 150.1 Reserves to imports (months) .. 1.1 3.4 1.8 1.6 2.7 3.5 4.5 56 AZERBAIJAN 7. Long-term external debt Debt outstanding and disbursed .. 206 836 1,602 1,693 1,932 2,447 3,061 Public and publicly guaranteed .. 206 737 1,372 1,506 1,828 2,304 2,734 Official creditors .. 206 647 1,284 1,217 1,355 1,594 1,892 Multilateral .. 99 323 633 630 735 963 1,140 of which: IBRD .. 0 0 0 0 5 21 78 IDA .. 30 216 493 501 583 660 698 Bilateral .. 107 324 651 587 620 631 752 Private creditors .. 0 90 89 289 473 710 842 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 65 89 289 438 613 714 Private nonguaranteed .. 0 99 230 187 104 143 327 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 102 256 311 430 468 490 727 Public and publicly guaranteed .. 102 250 77 306 443 443 512 Official creditors .. 102 209 77 70 266 233 283 Multilateral .. 90 56 62 57 211 219 213 of which: IBRD .. 0 0 0 0 5 16 56 IDA .. 30 27 49 48 60 58 50 Bilateral .. 13 153 15 13 55 14 70 Private creditors .. 0 41 0 236 177 210 228 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 38 0 236 141 145 192 Private nonguaranteed .. 0 6 234 124 25 47 216 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 22 147 150 178 77 164 Public and publicly guaranteed .. 0 15 54 53 62 66 141 Official creditors .. 0 13 35 36 43 50 70 Multilateral .. 0 9 15 18 17 21 29 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 0 2 4 6 8 Bilateral .. 0 4 20 19 26 29 41 Private creditors .. 0 2 19 16 19 16 71 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 16 16 18 14 66 Private nonguaranteed .. 0 7 93 97 116 11 23 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 9 37 20 27 39 69 79 Public and publicly guaranteed .. 9 32 16 20 32 62 67 Official creditors .. 9 31 14 16 18 35 29 Multilateral .. 2 7 8 9 11 26 21 of which: IBRD .. 0 0 0 0 1 1 3 IDA .. 0 2 4 4 4 5 5 Bilateral .. 7 24 6 7 7 9 9 Private creditors .. 0 1 2 4 14 27 38 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 2 4 13 25 36 Private nonguaranteed .. 0 5 4 7 7 7 11 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 208 255 222 94 543 1,007 716 Net flows on external debt .. 207 309 139 300 587 899 668 Cross-currency valuation .. -7 -43 60 -129 61 97 64 9. Debt restructurings Total amount rescheduled .. 0 0 87 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 128 139 129 174 185 203 214 223 Interest 34 38 43 46 47 47 46 44 Private creditors Principal 142 196 176 124 172 187 188 167 Interest 56 57 52 48 43 36 30 23 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. 57 BANGLADESH 1. Summary external debt data External debt stocks 12,453 15,941 15,740 20,170 18,959 20,535 21,859 23,644 Long-term external debt 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 Public and publicly guaranteed 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 626 622 216 231 308 476 501 686 Short-term external debt 156 199 334 712 688 1,178 1,379 1,986 interest arrears on long-term 1 15 0 0 16 0 13 9 Memorandum items 11 15 4 0 8 66 229 183 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 0 0 0 0 0 0 0 0 1,317 716 728 1,220 1,180 1,194 2,011 2,751 External debt flows Disbursements 1,273 763 893 1,151 985 1,126 1,132 2,173 Long-term external debt 1,213 763 893 1,004 887 976 1,132 1,967 IMF purchases 60 0 0 147 97 150 0 206 Principal repayments 548 591 599 463 570 472 750 780 Long-term external debt 344 530 513 463 570 472 750 772 IMF repurchases 204 61 86 0 0 0 0 8 Net flows 813 171 375 783 375 1,160 570 2,005 Long-term external debt 869 233 381 541 317 504 382 1,195 Short-term external debt 88 -1 80 95 -40 506 188 611 Interest payments 201 189 201 209 236 233 259 266 Long-term external debt 151 176 171 184 199 172 184 218 IMF charges 40 3 7 1 1 2 2 7 Short-term external debt 9 10 22 24 35 59 72 41 2. Other non-debt resource flows Foreign direct investment (net) 3 2 280 449 813 697 653 973 Portfolio equity flows 0 -15 1 4 20 31 153 10 Profit remittances on FDI 0 0 149 247 661 765 903 642 Grants (excluding technical coop.) 772 693 592 834 669 911 1,027 1,746 of which: Debt forgiveness grants .. .. 179 271 41 239 129 755 IDA grants .. .. .. 0 6 6 12 16 Memo: technical coop. grants 234 293 209 208 186 165 147 227 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.7 0.6 0.7 0.8 0.6 Japanese yen 24.8 25.8 20.3 16.0 14.2 12.7 10.5 10.2 Pound sterling 5.0 3.5 3.0 2.0 2.1 1.9 1.7 1.5 Swiss franc 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 48.0 41.9 44.7 50.0 51.5 52.4 52.1 52.6 4. Average terms of new commitments Official creditors Interest (%) 1.1 1.9 2.4 1.0 1.7 1.9 2.1 1.2 Maturity (years) 37.6 38.2 28.0 36.5 33.7 32.5 32.2 37.6 Grace period (years) 10.2 10.0 7.4 9.5 8.7 8.6 8.1 9.5 Private creditors Interest (%) 5.4 0.0 3.3 3.0 4.9 0.0 0.0 0.0 Maturity (years) 14.1 0.0 13.0 17.3 10.8 0.0 0.0 0.0 Grace period (years) 3.5 0.0 4.8 5.8 1.3 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 30,757 39,097 48,828 59,542 63,355 65,952 73,523 85,311 Exports of goods, services & income 2,907 5,903 9,251 12,908 14,970 18,483 20,888 26,573 Worker remit. & comp. of employees 779 1,202 1,968 3,584 4,314 5,428 6,562 8,995 Imports of goods & services 4,140 7,790 10,018 13,562 15,618 17,802 20,766 26,335 International reserves 660 2,376 1,516 3,222 2,825 3,877 5,277 5,787 Current account balance -398 -824 -306 -279 -176 1,196 857 1,032 6. Ratios External debt stocks to exports (%) 428.4 270.0 170.1 156.3 126.6 111.1 104.6 89.0 External debt stocks to GNI (%) 40.5 40.8 32.2 33.9 29.9 31.1 29.7 27.7 Debt service to exports (%) 25.8 13.2 8.6 5.2 5.4 3.8 4.8 3.9 Short-term to external debt stocks (%) 1.3 1.2 2.1 3.5 3.6 5.7 6.3 8.4 Multilateral to external debt stocks (%) 51.7 60.7 69.8 73.1 74.1 72.9 74.8 73.3 Reserves to external debt stocks (%) 5.3 14.9 9.6 16.0 14.9 18.9 24.1 24.5 Reserves to imports (months) 1.9 3.7 1.8 2.9 2.2 2.6 3.0 2.6 58 BANGLADESH 7. Long-term external debt Debt outstanding and disbursed 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 Public and publicly guaranteed 11,671 15,121 15,190 19,227 17,962 18,880 19,980 20,973 Official creditors 11,449 14,866 14,944 18,684 17,440 18,379 19,500 20,437 Multilateral 6,441 9,678 10,990 14,734 14,055 14,966 16,346 17,334 of which: IBRD 64 55 24 0 0 0 0 0 IDA 4,095 5,638 6,431 8,895 8,688 9,297 10,077 10,613 Bilateral 5,008 5,188 3,954 3,950 3,385 3,413 3,154 3,103 Private creditors 223 255 246 543 522 502 480 535 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 21 12 15 41 34 31 27 21 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,213 763 893 1,004 887 976 1,132 1,967 Public and publicly guaranteed 1,213 763 893 1,004 887 976 1,132 1,967 Official creditors 1,123 677 827 989 887 976 1,132 1,757 Multilateral 822 494 650 821 814 750 1,019 1,470 of which: IBRD 0 0 0 0 0 0 0 0 IDA 464 198 357 615 547 398 602 820 Bilateral 301 183 177 168 73 226 113 287 Private creditors 90 86 67 14 0 0 0 210 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 22 0 15 14 0 0 0 2 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 344 530 513 463 570 472 750 772 Public and publicly guaranteed 344 530 513 463 570 472 750 772 Official creditors 310 423 482 433 556 448 726 674 Multilateral 62 104 168 290 290 328 382 445 of which: IBRD 2 5 5 7 0 0 0 0 IDA 13 41 82 141 153 172 193 213 Bilateral 248 319 314 143 265 120 344 230 Private creditors 34 107 31 30 14 24 23 98 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 2 0 4 3 5 5 5 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 151 176 171 184 199 172 184 218 Public and publicly guaranteed 151 176 171 184 199 172 184 218 Official creditors 140 167 160 179 198 170 182 205 Multilateral 51 87 93 130 133 137 144 162 of which: IBRD 4 4 2 0 0 0 0 0 IDA 28 42 47 67 70 70 72 77 Bilateral 89 80 67 49 64 33 38 42 Private creditors 11 9 12 5 2 2 2 13 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 2 0 1 1 1 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,595 305 -846 1,357 -1,211 1,576 1,324 1,786 Net flows on external debt 813 171 375 783 375 1,160 570 2,005 Cross-currency valuation 925 -243 -1,088 693 -1,616 461 730 -467 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 162 0 83 158 533 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 764 757 788 837 868 900 922 972 Interest 230 233 233 230 225 217 208 202 Private creditors Principal 102 103 99 96 86 63 25 14 Interest 16 15 12 9 6 3 2 1 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country. 59 BELARUS 1. Summary external debt data External debt stocks .. 1,694 2,140 4,029 4,737 5,352 10,341 12,299 Long-term external debt .. 1,302 787 1,084 1,233 1,697 3,463 5,340 Public and publicly guaranteed .. 1,301 689 744 786 842 2,338 3,752 Private nonguaranteed .. 0 98 339 448 855 1,125 1,589 Use of IMF credit .. 283 114 9 0 0 0 0 Short-term external debt .. 110 1,239 2,936 3,503 3,654 6,878 6,959 interest arrears on long-term .. 19 14 0 1 4 2 2 Memorandum items .. 140 29 1 37 22 10 4 .. 1,301 689 733 777 837 2,336 3,752 .. 0 98 351 456 860 1,127 1,589 .. 145 136 255 412 174 1,639 1,961 External debt flows Disbursements .. 441 249 308 648 747 2,532 2,709 Long-term external debt .. 258 249 308 648 747 2,532 2,709 IMF purchases .. 182 0 0 0 0 0 0 Principal repayments .. 108 261 257 519 483 757 826 Long-term external debt .. 108 206 240 510 483 757 826 IMF repurchases .. 0 56 17 9 0 0 0 Net flows .. 369 -89 1,014 695 412 5,000 1,965 Long-term external debt .. 150 43 68 138 264 1,775 1,883 Short-term external debt .. 36 -76 963 566 148 3,225 82 Interest payments .. 74 107 115 161 250 322 349 Long-term external debt .. 59 39 41 51 72 81 232 IMF charges .. 10 7 0 0 0 0 0 Short-term external debt .. 4 61 74 111 178 241 117 2. Other non-debt resource flows Foreign direct investment (net) .. 15 119 164 305 354 1,785 2,158 Portfolio equity flows .. 0 1 1 1 -1 5 1 Profit remittances on FDI .. 0 5 76 135 236 435 682 Grants (excluding technical coop.) .. 136 0 0 32 45 59 81 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 27 0 0 28 35 29 34 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 25.1 14.4 26.0 9.9 4.1 Japanese yen .. 2.3 2.2 1.7 1.1 0.7 0.1 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.7 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 50.8 48.9 61.6 71.8 61.1 85.5 93.4 4. Average terms of new commitments Official creditors Interest (%) .. 5.1 6.8 3.4 5.0 5.9 4.6 6.1 Maturity (years) .. 16.0 5.9 6.0 7.6 16.9 14.9 12.1 Grace period (years) .. 5.6 2.4 1.8 1.4 5.4 5.4 4.2 Private creditors Interest (%) .. 8.1 7.2 3.6 8.9 7.2 4.8 0.0 Maturity (years) .. 5.8 2.5 9.2 1.1 2.3 3.0 0.0 Grace period (years) .. 1.6 1.0 2.4 1.1 1.3 1.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 13,922 12,690 23,141 30,266 36,847 44,865 59,755 Exports of goods, services & income .. 5,300 7,667 15,847 18,350 22,478 27,897 37,459 Worker remit. & comp. of employees .. 29 139 257 255 340 354 448 Imports of goods & services .. 5,805 8,160 17,343 18,079 24,129 31,124 42,861 International reserves .. 377 350 837 1,342 1,386 4,179 3,063 Current account balance .. -458 -338 -1,193 436 -1,447 -3,036 -5,209 6. Ratios External debt stocks to exports (%) .. 32.0 27.9 25.4 25.8 23.8 37.1 32.8 External debt stocks to GNI (%) .. 12.2 16.9 17.4 15.6 14.5 23.0 20.6 Debt service to exports (%) .. 3.4 4.8 2.3 3.7 3.3 3.9 3.1 Short-term to external debt stocks (%) .. 6.5 57.9 72.9 74.0 68.3 66.5 56.6 Multilateral to external debt stocks (%) .. 11.1 10.1 3.1 1.7 1.2 0.5 0.4 Reserves to external debt stocks (%) .. 22.3 16.4 20.8 28.3 25.9 40.4 24.9 Reserves to imports (months) .. 0.8 0.5 0.6 0.9 0.7 1.6 0.9 60 BELARUS 7. Long-term external debt Debt outstanding and disbursed .. 1,302 787 1,084 1,233 1,697 3,463 5,340 Public and publicly guaranteed .. 1,301 689 744 786 842 2,338 3,752 Official creditors .. 769 400 480 566 571 2,076 3,580 Multilateral .. 188 217 124 81 65 52 50 of which: IBRD .. 116 105 73 59 50 42 42 IDA .. 0 0 0 0 0 0 0 Bilateral .. 582 183 356 485 506 2,023 3,529 Private creditors .. 532 289 265 219 271 262 172 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 46 56 36 57 102 107 68 Private nonguaranteed .. 0 98 339 448 855 1,125 1,589 of which: Bonds .. 0 0 0 0 0 19 19 Disbursements .. 258 249 308 648 747 2,532 2,709 Public and publicly guaranteed .. 258 143 198 254 207 1,717 1,568 Official creditors .. 131 25 181 188 74 1,596 1,563 Multilateral .. 77 25 2 7 5 7 16 of which: IBRD .. 11 6 2 7 5 7 16 IDA .. 0 0 0 0 0 0 0 Bilateral .. 54 0 179 181 69 1,589 1,547 Private creditors .. 127 118 16 66 133 121 5 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 20 48 1 34 83 96 0 Private nonguaranteed .. 0 106 111 395 540 815 1,141 of which: Bonds .. 0 0 0 0 0 19 0 Principal repayments .. 108 206 240 510 483 757 826 Public and publicly guaranteed .. 108 134 179 177 171 253 151 Official creditors .. 84 52 87 94 73 98 64 Multilateral .. 70 49 29 42 23 21 19 of which: IBRD .. 0 14 16 16 15 16 17 IDA .. 0 0 0 0 0 0 0 Bilateral .. 15 4 58 52 50 77 45 Private creditors .. 24 82 93 83 98 155 86 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 28 13 12 42 101 35 Private nonguaranteed .. 0 71 61 333 311 505 675 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 59 39 41 51 72 81 232 Public and publicly guaranteed .. 59 38 36 39 45 49 176 Official creditors .. 32 18 16 17 28 30 159 Multilateral .. 23 17 7 5 4 4 3 of which: IBRD .. 8 6 3 3 3 3 2 IDA .. 0 0 0 0 0 0 0 Bilateral .. 10 2 8 12 24 26 156 Private creditors .. 26 19 21 22 16 19 17 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 1 4 3 4 6 8 8 Private nonguaranteed .. 0 1 5 12 27 33 56 of which: Bonds .. 0 0 0 0 0 1 2 8. Debt stock-flow reconciliation Total change in external debt stocks .. 398 -122 797 708 615 4,989 1,958 Net flows on external debt .. 369 -89 1,014 695 412 5,000 1,965 Cross-currency valuation .. 28 -26 22 -33 16 32 -8 9. Debt restructurings Total amount rescheduled .. 0 50 0 0 0 0 0 Total amount forgiven .. 0 0 0 0 0 0 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 92 89 152 210 362 462 421 321 Interest 97 105 143 135 122 104 84 67 Private creditors Principal 476 368 287 174 137 104 85 64 Interest 199 54 38 27 19 13 9 5 Notes: Short-term debt is based on reports provided by the National Bank of the Republic of Belarus. 61 BELIZE 1. Summary external debt data External debt stocks 143 255 612 957 1,003 1,018 1,056 1,031 Long-term external debt 136 219 562 957 997 1,012 1,050 1,024 Public and publicly guaranteed 136 219 553 923 972 992 1,036 1,015 Private nonguaranteed 0 0 8 34 25 20 14 10 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 6 36 50 0 6 7 6 7 interest arrears on long-term 1 1 0 0 6 7 6 7 Memorandum items 2 1 0 0 2 0 1 1 136 219 553 923 972 991 1,024 1,005 0 0 8 34 25 20 26 20 5 29 224 267 153 100 591 15 External debt flows Disbursements 18 31 223 223 210 84 597 23 Long-term external debt 18 31 223 223 210 84 597 23 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 12 25 41 259 160 70 561 48 Long-term external debt 9 25 41 259 160 70 561 48 IMF repurchases 3 0 0 0 0 0 0 0 Net flows 7 27 181 -116 50 14 37 -25 Long-term external debt 9 6 182 -36 50 14 37 -25 Short-term external debt 1 21 -1 -80 0 0 0 0 Interest payments 6 11 35 75 73 64 64 50 Long-term external debt 6 10 32 73 73 64 64 50 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 0 1 3 2 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 17 21 23 111 127 109 140 179 Portfolio equity flows 0 0 0 0 0 4 0 2 Profit remittances on FDI 7 8 31 42 35 52 87 103 Grants (excluding technical coop.) 4 8 11 6 9 9 15 18 of which: Debt forgiveness grants .. .. 0 3 2 2 1 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 13 12 5 5 6 5 5 4 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.7 1.4 1.4 1.3 0.8 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 23.6 10.0 1.8 0.6 0.4 0.4 0.3 0.2 Swiss franc 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 45.3 62.7 93.2 95.9 96.7 96.8 97.1 97.8 4. Average terms of new commitments Official creditors Interest (%) 5.0 5.9 6.3 3.0 0.0 2.9 5.2 4.1 Maturity (years) 10.0 17.9 21.1 20.5 0.0 9.9 22.3 23.8 Grace period (years) 2.5 3.9 5.3 4.8 0.0 2.2 5.6 5.7 Private creditors Interest (%) 0.0 8.6 9.5 7.2 4.7 0.0 4.2 4.3 Maturity (years) 0.0 4.8 8.1 7.9 7.1 0.0 21.9 22.0 Grace period (years) 0.0 0.3 3.0 7.8 1.6 0.0 12.2 12.5 5. Major economic aggregates Gross national income (GNI) 406 598 775 942 1,000 1,095 1,152 1,189 Exports of goods, services & income 269 314 464 579 675 858 901 934 Worker remit. & comp. of employees 18 14 22 35 46 65 75 78 Imports of goods & services 269 351 661 749 836 899 976 1,125 International reserves 70 38 123 48 71 114 109 166 Current account balance 15 -17 -162 -155 -151 -25 -52 -154 6. Ratios External debt stocks to exports (%) 53.1 81.2 131.8 165.2 148.7 118.7 117.2 110.4 External debt stocks to GNI (%) 35.1 42.7 78.9 101.6 100.3 93.0 91.7 86.7 Debt service to exports (%) 6.8 11.7 16.4 57.6 34.5 15.7 69.3 10.5 Short-term to external debt stocks (%) 4.3 14.0 8.2 0.0 0.6 0.6 0.6 0.6 Multilateral to external debt stocks (%) 40.2 35.1 22.2 23.1 21.6 21.5 22.2 22.2 Reserves to external debt stocks (%) 48.9 14.7 20.1 5.0 7.1 11.2 10.3 16.1 Reserves to imports (months) 3.1 1.3 2.2 0.8 1.0 1.5 1.3 1.8 62 BELIZE 7. Long-term external debt Debt outstanding and disbursed 136 219 562 957 997 1,012 1,050 1,024 Public and publicly guaranteed 136 219 553 923 972 992 1,036 1,015 Official creditors 118 175 225 292 311 372 341 335 Multilateral 57 89 136 221 216 219 234 229 of which: IBRD 18 30 40 39 35 30 25 21 IDA 0 0 0 0 0 0 0 0 Bilateral 61 86 89 71 95 153 106 105 Private creditors 18 44 328 631 661 620 696 680 of which: Bonds 0 0 75 375 482 466 24 24 Commercial banks 16 39 245 254 169 146 666 654 Private nonguaranteed 0 0 8 34 25 20 14 10 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 18 31 223 223 210 84 597 23 Public and publicly guaranteed 18 31 218 223 210 84 597 23 Official creditors 13 26 26 43 45 82 45 21 Multilateral 6 12 22 25 14 17 35 16 of which: IBRD 3 6 2 2 1 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 7 13 4 19 31 65 10 5 Private creditors 5 5 192 180 165 3 552 2 of which: Bonds 0 0 86 70 143 0 0 0 Commercial banks 5 5 96 110 12 3 552 2 Private nonguaranteed 0 0 5 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 9 25 41 259 160 70 561 48 Public and publicly guaranteed 9 25 41 257 158 66 555 43 Official creditors 7 18 20 26 23 22 78 26 Multilateral 3 7 9 16 17 15 21 21 of which: IBRD 1 2 4 5 4 5 5 5 IDA 0 0 0 0 0 0 0 0 Bilateral 4 11 11 9 6 7 57 6 Private creditors 2 8 22 231 135 44 477 17 of which: Bonds 0 0 11 3 36 16 441 1 Commercial banks 2 5 9 227 98 25 33 14 Private nonguaranteed 0 0 0 3 2 5 6 4 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 6 10 32 73 73 64 64 50 Public and publicly guaranteed 6 10 32 72 72 64 63 50 Official creditors 4 8 12 12 13 15 17 15 Multilateral 3 4 7 9 9 10 11 10 of which: IBRD 1 2 3 2 2 2 2 1 IDA 0 0 0 0 0 0 0 0 Bilateral 1 4 4 3 4 5 6 5 Private creditors 1 2 20 61 59 49 47 35 of which: Bonds 0 0 1 38 41 36 23 2 Commercial banks 1 2 18 23 18 12 23 33 Private nonguaranteed 0 0 0 0 1 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 6 56 220 -104 46 15 38 -26 Net flows on external debt 7 27 181 -116 50 14 37 -25 Cross-currency valuation 7 1 -2 2 -2 2 3 -2 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 7 Total amount forgiven 9 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 30 24 23 23 24 24 22 33 Interest 14 14 13 12 11 10 9 8 Private creditors Principal 18 38 14 37 8 8 8 5 Interest 34 32 29 27 25 25 24 24 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. 63 BENIN 1. Summary external debt data External debt stocks 1,291.8 1,614.0 1,590.9 1,925.0 1,841.5 813.3 859.0 986.3 Long-term external debt 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 Public and publicly guaranteed 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 17.9 84.1 83.9 65.3 52.8 2.6 4.2 22.4 Short-term external debt 55.4 46.9 65.2 28.6 44.0 44.1 5.2 37.6 interest arrears on long-term 20.5 7.9 0.0 4.6 5.0 5.1 5.2 4.6 Memorandum items 68.9 70.7 0.0 10.0 10.0 10.0 10.0 10.0 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85.1 110.6 109.3 215.0 126.3 68.8 204.7 144.8 External debt flows Disbursements 120.3 115.0 39.3 80.5 86.8 79.0 115.2 158.3 Long-term external debt 120.3 101.3 30.4 78.5 85.5 77.7 113.8 139.5 IMF purchases 0.0 13.7 9.0 2.0 1.3 1.3 1.3 18.9 Principal repayments 20.5 26.3 55.4 43.2 47.5 64.0 54.5 54.2 Long-term external debt 18.5 24.4 44.9 35.6 40.0 64.0 54.5 54.2 IMF repurchases 2.0 1.9 10.5 7.6 7.5 0.0 0.0 0.0 Net flows 91.8 104.7 -64.5 32.3 54.2 15.0 21.6 137.1 Long-term external debt 101.7 76.9 -14.5 42.9 45.4 13.7 59.3 85.3 Short-term external debt -8.0 16.0 -48.5 -5.0 15.0 0.0 -39.0 33.0 Interest payments 17.6 23.5 20.0 19.3 19.7 17.2 13.5 43.0 Long-term external debt 14.0 21.3 15.1 17.8 17.9 15.6 12.6 42.6 IMF charges 0.1 0.3 0.4 0.3 0.2 0.0 0.0 0.1 Short-term external debt 3.6 1.9 4.5 1.2 1.6 1.6 0.9 0.4 2. Other non-debt resource flows Foreign direct investment (net) 62.4 13.3 59.7 63.8 53.0 53.2 255.2 120.0 Portfolio equity flows 0.0 0.3 0.1 -2.9 2.3 0.3 4.9 0.0 Profit remittances on FDI 0.4 5.9 -0.8 13.5 9.0 14.8 52.9 0.0 Grants (excluding technical coop.) 110.1 149.0 147.6 330.1 216.4 1,185.1 298.1 415.7 of which: Debt forgiveness grants .. .. 32.7 88.8 22.5 1,008.0 10.8 9.8 IDA grants .. .. .. 0.0 0.0 0.0 19.2 9.3 Memo: technical coop. grants 49.0 61.5 67.9 87.4 91.7 109.7 81.3 85.4 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.5 6.6 11.2 10.7 9.3 Japanese yen 0.0 0.0 2.3 2.0 1.8 4.0 3.6 4.0 Pound sterling 0.9 0.4 0.3 0.3 0.2 0.5 0.4 0.3 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.8 51.8 60.9 57.9 57.0 42.8 39.6 33.9 4. Average terms of new commitments Official creditors Interest (%) 1.3 1.3 1.6 0.8 0.8 0.7 1.5 1.5 Maturity (years) 39.2 33.1 36.0 43.2 42.4 38.8 32.6 31.7 Grace period (years) 8.4 8.7 8.3 10.0 10.3 9.2 8.0 8.6 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,806.1 1,965.0 2,242.6 4,005.7 4,258.7 4,623.4 5,427.6 6,651.9 Exports of goods, services & income 464.8 730.2 632.4 861.1 934.6 1,162.6 1,619.1 .. Worker remit. & comp. of employees 101.0 100.0 87.0 63.0 172.7 224.0 224.0 271.0 Imports of goods & services 491.7 925.8 743.5 1,189.0 1,187.9 1,452.0 2,188.5 .. International reserves 69.2 197.9 458.1 640.0 656.8 912.2 1,209.2 1,260.5 Current account balance -18.1 -167.0 -80.6 -288.5 -226.1 -217.0 -535.2 .. 6. Ratios External debt stocks to exports (%) 277.9 221.1 251.6 223.5 197.0 70.0 53.1 .. External debt stocks to GNI (%) 71.5 82.1 70.9 48.1 43.2 17.6 15.8 14.8 Debt service to exports (%) 8.2 6.8 11.9 7.3 7.2 7.0 4.2 .. Short-term to external debt stocks (%) 4.3 2.9 4.1 1.5 2.4 5.4 0.6 3.8 Multilateral to external debt stocks (%) 41.6 54.0 59.7 73.4 72.0 49.1 59.3 63.0 Reserves to external debt stocks (%) 5.4 12.3 28.8 33.2 35.7 112.2 140.8 127.8 Reserves to imports (months) 1.7 2.6 7.4 6.5 6.6 7.5 6.6 .. 64 BENIN 7. Long-term external debt Debt outstanding and disbursed 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 Public and publicly guaranteed 1,218.5 1,483.0 1,441.9 1,831.1 1,744.7 766.6 849.6 926.2 Official creditors 1,201.8 1,478.9 1,439.0 1,826.9 1,744.7 766.6 849.6 926.2 Multilateral 536.8 871.4 949.9 1,412.4 1,326.3 399.2 509.3 621.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 326.0 498.3 578.4 791.4 770.8 126.1 175.6 255.4 Bilateral 665.0 607.5 489.1 414.5 418.4 367.4 340.3 304.6 Private creditors 16.7 4.1 2.8 4.2 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 120.3 101.3 30.4 78.5 85.5 77.7 113.8 139.5 Public and publicly guaranteed 120.3 101.3 30.4 78.5 85.5 77.7 113.8 139.5 Official creditors 120.3 101.3 30.4 78.5 85.5 77.7 113.8 139.5 Multilateral 91.1 83.5 28.8 78.5 85.1 56.4 111.3 132.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 55.6 30.8 36.5 41.7 49.2 31.9 42.5 84.1 Bilateral 29.2 17.8 1.6 0.0 0.4 21.3 2.5 7.1 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 18.5 24.4 44.9 35.6 40.0 64.0 54.5 54.2 Public and publicly guaranteed 18.5 24.4 44.9 35.6 40.0 64.0 54.5 54.2 Official creditors 18.4 24.3 44.9 35.6 36.2 64.0 54.5 54.2 Multilateral 18.4 16.5 15.3 17.5 21.1 26.4 16.2 15.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.8 3.4 3.9 5.2 6.4 7.6 0.0 0.0 Bilateral 0.0 7.8 29.6 18.1 15.1 37.5 38.4 39.0 Private creditors 0.1 0.1 0.0 0.0 3.8 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 14.0 21.3 15.1 17.8 17.9 15.6 12.6 42.6 Public and publicly guaranteed 14.0 21.3 15.1 17.8 17.9 15.6 12.6 42.6 Official creditors 13.9 21.3 15.1 17.8 17.7 15.6 12.6 42.6 Multilateral 12.8 8.5 9.4 12.8 13.0 11.1 7.9 21.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.1 3.6 3.8 5.6 6.0 3.8 1.4 1.7 Bilateral 1.2 12.7 5.7 5.0 4.7 4.5 4.7 20.9 Private creditors 0.1 0.0 0.0 0.0 0.2 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 49.6 24.7 -96.0 92.0 -83.4 -1,028.2 45.7 127.3 Net flows on external debt 91.8 104.7 -64.5 32.3 54.2 15.0 21.6 137.1 Cross-currency valuation 62.4 -4.0 -52.6 54.9 -118.7 -700.6 36.6 1.9 9. Debt restructurings Total amount rescheduled 12.4 5.5 53.3 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 125.5 139.5 4.8 13.1 13.6 1,022.7 0.0 5.9 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 58.6 61.1 61.2 63.9 67.9 42.9 41.5 39.1 Interest 12.5 13.1 13.3 13.3 13.0 12.3 11.5 10.7 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country. Benin was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 65 BHUTAN 1. Summary external debt data External debt stocks 83.5 105.8 203.8 593.3 649.2 713.3 775.0 692.4 Long-term external debt 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 Public and publicly guaranteed 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 3.3 0.6 1.5 0.0 12.5 16.0 0.0 0.0 interest arrears on long-term 0.3 0.6 0.0 0.0 4.5 0.0 0.0 0.0 Memorandum items 1.5 0.2 0.0 0.0 4.1 0.0 0.0 0.0 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24.0 85.1 64.4 60.3 25.0 896.6 0.0 External debt flows Disbursements 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 Long-term external debt 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.9 7.2 4.7 6.7 4.6 5.9 23.9 43.5 Long-term external debt 2.9 7.2 4.7 6.7 4.6 5.9 23.9 43.5 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows 6.5 2.7 29.6 81.4 85.3 47.3 -8.0 4.9 Long-term external debt 5.5 2.7 30.1 85.8 77.3 39.3 8.0 4.9 Short-term external debt 1.0 0.0 -0.5 -4.4 8.0 8.0 -16.0 0.0 Interest payments 2.3 2.6 2.0 5.2 2.2 4.2 7.3 38.0 Long-term external debt 2.0 2.6 1.8 5.2 2.0 3.4 6.9 38.0 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 0.0 0.2 0.1 0.2 0.8 0.4 0.0 2. Other non-debt resource flows Foreign direct investment (net) 1.6 0.1 -0.1 3.5 9.0 6.1 78.3 30.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 16.9 39.5 20.6 42.5 49.4 67.0 55.0 63.0 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.5 1.1 16.3 15.8 2.9 Memo: technical coop. grants 23.7 27.1 21.8 21.7 21.2 21.2 20.0 14.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 10.3 9.6 10.9 11.1 11.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 43.1 28.6 17.7 17.6 18.2 19.2 19.0 22.4 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.3 3.1 10.6 0.8 1.4 9.5 0.8 Maturity (years) 0.0 33.4 32.1 19.7 28.6 32.0 19.3 38.9 Grace period (years) 0.0 11.2 10.5 8.3 7.1 8.5 7.6 9.4 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 297.7 291.6 418.7 663.8 756.7 852.3 1026.0 1393.5 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves 88.8 130.5 317.6 398.6 467.4 545.3 699.0 764.8 Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 28.1 36.3 48.7 89.4 85.8 83.7 75.5 49.7 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 3.9 0.5 0.8 0.0 1.9 2.2 0.0 0.0 Multilateral to external debt stocks (%) 50.1 64.5 49.4 28.6 27.3 27.4 28.9 34.4 Reserves to external debt stocks (%) 106.3 123.3 155.9 67.2 72.0 76.5 90.2 110.5 Reserves to imports (months) .. .. .. .. .. .. .. .. 66 BHUTAN 7. Long-term external debt Debt outstanding and disbursed 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 Public and publicly guaranteed 80.3 105.2 202.2 593.3 636.7 697.3 775.0 692.4 Official creditors 61.8 98.4 202.2 593.3 636.7 697.3 775.0 692.4 Multilateral 41.9 68.2 100.6 169.6 177.1 195.8 223.7 238.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 16.1 22.5 26.1 60.3 63.3 76.0 87.5 94.3 Bilateral 19.9 30.2 101.6 423.7 459.6 501.5 551.4 454.3 Private creditors 18.5 6.8 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 Public and publicly guaranteed 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 Official creditors 8.4 9.9 34.8 92.6 81.9 45.2 31.9 48.4 Multilateral 7.2 5.8 11.8 16.4 22.1 15.1 21.4 14.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.0 1.2 3.6 9.0 8.4 10.3 8.8 8.6 Bilateral 1.2 4.1 23.0 76.1 59.9 30.1 10.5 33.6 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.9 7.2 4.7 6.7 4.6 5.9 23.9 43.5 Public and publicly guaranteed 2.9 7.2 4.7 6.7 4.6 5.9 23.9 43.5 Official creditors 0.3 4.9 4.7 6.7 4.6 5.9 23.9 43.5 Multilateral 0.0 0.6 1.3 1.8 2.2 2.5 2.7 3.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.3 0.5 0.7 0.8 0.8 1.0 Bilateral 0.3 4.3 3.4 4.9 2.5 3.4 21.2 39.8 Private creditors 2.6 2.3 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.0 2.6 1.8 5.2 2.0 3.4 6.9 38.0 Public and publicly guaranteed 2.0 2.6 1.8 5.2 2.0 3.4 6.9 38.0 Official creditors 0.4 2.0 1.8 5.2 2.0 3.4 6.9 38.0 Multilateral 0.3 0.6 0.9 1.6 1.6 1.8 1.8 2.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.2 0.2 0.6 0.6 0.6 0.6 0.7 Bilateral 0.1 1.4 0.9 3.6 0.4 1.6 5.1 35.9 Private creditors 1.6 0.6 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 9.7 1.3 20.0 107.3 55.9 64.1 61.7 -82.6 Net flows on external debt 6.5 2.7 29.6 81.4 85.3 47.3 -8.0 4.9 Cross-currency valuation 1.1 -2.0 -10.6 22.7 -32.3 20.4 70.0 -88.2 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 54.6 58.3 58.4 58.9 59.2 60.8 124.6 103.1 Interest 48.3 54.4 54.8 52.2 48.3 43.7 81.6 70.0 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67 BOLIVIA, PLURINATIONAL STATE OF 1. Summary external debt data External debt stocks 4,275 5,272 5,785 6,222 6,908 5,799 4,993 5,537 Long-term external debt 3,864 4,698 5,163 5,642 6,482 5,564 4,816 5,371 Public and publicly guaranteed 3,687 4,459 4,137 4,557 4,568 3,177 2,194 2,403 Private nonguaranteed 177 239 1,026 1,085 1,914 2,388 2,621 2,969 Use of IMF credit 257 268 220 307 244 15 0 0 Short-term external debt 154 307 402 272 182 220 177 166 interest arrears on long-term 6 20 2 0 0 0 0 0 Memorandum items 31 30 19 0 0 0 0 0 3,687 4,459 3,759 4,530 4,545 3,159 2,185 2,393 177 239 1,403 1,112 1,937 2,406 2,631 2,978 549 684 180 479 551 185 1,061 1,174 External debt flows Disbursements 331 520 759 729 895 365 911 1,265 Long-term external debt 300 494 744 673 880 365 911 1,265 IMF purchases 31 26 15 56 14 0 0 0 Principal repayments 241 199 454 378 355 215 539 768 Long-term external debt 196 173 434 357 315 215 525 768 IMF repurchases 46 26 20 22 40 0 15 0 Net flows 32 341 294 291 449 189 329 487 Long-term external debt 104 321 309 317 565 150 386 498 Short-term external debt -57 20 -10 -60 -91 38 -43 -11 Interest payments 144 173 180 141 174 216 202 179 Long-term external debt 117 155 159 125 159 204 194 175 IMF charges 13 1 1 4 6 2 1 0 Short-term external debt 14 17 20 13 10 10 7 4 2. Other non-debt resource flows Foreign direct investment (net) 27 393 736 65 -239 281 366 512 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 17 24 148 292 271 392 644 681 Grants (excluding technical coop.) 202 328 231 803 294 2,081 1,591 424 of which: Debt forgiveness grants .. .. 24 527 38 1,819 1,176 3 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 108 217 147 240 240 303 109 138 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.7 1.5 2.6 4.2 3.6 Japanese yen 10.0 13.2 12.3 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.9 0.7 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 41.3 32.7 45.0 72.9 75.3 66.2 76.5 79.7 4. Average terms of new commitments Official creditors Interest (%) 4.1 3.8 4.2 3.2 4.9 4.1 2.7 3.7 Maturity (years) 29.5 29.1 28.6 17.7 21.6 24.9 22.8 19.9 Grace period (years) 7.9 7.8 7.9 4.5 5.6 5.8 5.2 5.3 Private creditors Interest (%) 9.4 6.7 7.4 0.0 0.0 0.0 5.0 4.8 Maturity (years) 5.8 5.6 5.8 0.0 0.0 0.0 2.0 2.7 Grace period (years) 1.5 1.0 0.8 0.0 0.0 0.0 2.0 2.0 5. Major economic aggregates Gross national income (GNI) 4,626 6,494 8,172 8,388 10,980 12,378 12,947 16,138 Exports of goods, services & income 998 1,264 1,711 2,817 3,705 5,156 6,348 8,391 Worker remit. & comp. of employees 5 7 127 211 346 612 1,065 1,144 Imports of goods & services 1,354 1,809 2,443 2,792 3,363 4,091 5,002 6,563 International reserves 511 1,005 1,184 1,271 1,795 3,194 5,314 7,720 Current account balance -199 -303 -446 337 622 1,317 1,591 2,015 6. Ratios External debt stocks to exports (%) 428.6 417.1 338.2 220.9 186.5 112.5 78.7 66.0 External debt stocks to GNI (%) 92.4 81.2 70.8 74.2 62.9 46.8 38.6 34.3 Debt service to exports (%) 38.6 29.4 37.1 18.4 14.3 8.4 11.7 11.3 Short-term to external debt stocks (%) 3.6 5.8 7.0 4.4 2.6 3.8 3.5 3.0 Multilateral to external debt stocks (%) 37.2 48.9 48.5 68.2 60.9 47.6 34.0 32.7 Reserves to external debt stocks (%) 12.0 19.1 20.5 20.4 26.0 55.1 106.4 139.4 Reserves to imports (months) 4.5 6.7 5.8 5.5 6.4 9.4 12.7 14.1 68 BOLIVIA, PLURINATIONAL STATE OF 7. Long-term external debt Debt outstanding and disbursed 3,864 4,698 5,163 5,642 6,482 5,564 4,816 5,371 Public and publicly guaranteed 3,687 4,459 4,137 4,557 4,568 3,177 2,194 2,403 Official creditors 3,362 4,396 4,103 4,531 4,545 3,157 2,167 2,313 Multilateral 1,589 2,579 2,803 4,245 4,210 2,762 1,698 1,812 of which: IBRD 194 95 0 0 0 0 0 0 IDA 393 770 1,096 1,750 1,673 233 259 281 Bilateral 1,773 1,817 1,300 286 336 395 469 502 Private creditors 325 63 33 26 23 20 28 89 of which: Bonds 35 17 0 0 0 0 10 10 Commercial banks 4 9 3 2 1 0 0 66 Private nonguaranteed 177 239 1,026 1,085 1,914 2,388 2,621 2,969 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 300 494 744 673 880 365 911 1,265 Public and publicly guaranteed 300 427 276 496 434 260 318 593 Official creditors 291 427 263 494 433 259 308 526 Multilateral 204 383 238 408 350 186 222 459 of which: IBRD 0 0 0 0 0 0 0 0 IDA 49 113 61 124 71 34 16 25 Bilateral 86 45 25 85 83 73 86 66 Private creditors 9 0 13 2 1 1 10 67 of which: Bonds 0 0 0 0 0 0 10 0 Commercial banks 0 0 0 0 0 0 0 66 Private nonguaranteed 0 67 468 177 447 105 593 673 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 196 173 434 357 315 215 525 768 Public and publicly guaranteed 172 155 153 181 184 207 165 376 Official creditors 163 147 149 180 182 202 161 372 Multilateral 117 120 118 171 169 188 145 352 of which: IBRD 21 26 12 0 0 0 0 0 IDA 2 2 0 8 8 12 0 1 Bilateral 46 27 32 9 13 14 16 20 Private creditors 9 8 4 2 2 4 4 5 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 4 1 1 1 1 0 0 Private nonguaranteed 24 18 281 175 131 8 360 392 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 117 155 159 125 159 204 194 175 Public and publicly guaranteed 103 137 112 79 100 112 103 98 Official creditors 101 133 111 78 99 112 103 98 Multilateral 69 100 82 75 94 102 92 88 of which: IBRD 15 9 1 0 0 0 0 0 IDA 3 6 1 12 12 7 2 2 Bilateral 32 33 29 3 5 10 11 10 Private creditors 2 4 1 0 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 1 0 0 0 0 0 0 Private nonguaranteed 14 19 47 46 59 92 91 77 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 143 396 237 420 686 -1,109 -806 544 Net flows on external debt 32 341 294 291 449 189 329 487 Cross-currency valuation 114 -33 -212 80 -195 -1,700 -70 -1 9. Debt restructurings Total amount rescheduled 153 196 0 0 0 0 0 0 Total amount forgiven 169 82 54 49 50 1,549 1,182 17 Debt buyback 4 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 173 206 197 199 235 231 230 226 Interest 80 83 82 79 73 67 59 53 Private creditors Principal 512 697 461 346 313 207 125 125 Interest 75 96 68 50 35 23 15 10 Notes: Bolivia was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 69 BOSNIA AND HERZEGOVINA 1. Summary external debt data External debt stocks .. .. 2,773 5,589 6,222 7,242 8,823 8,316 Long-term external debt .. .. 2,619 5,120 5,323 6,051 7,133 7,404 Public and publicly guaranteed .. .. 1,957 2,685 2,556 2,716 2,958 3,006 Private nonguaranteed .. .. 663 2,435 2,767 3,335 4,175 4,398 Use of IMF credit .. 48 105 109 62 20 2 0 Short-term external debt .. .. 49 360 837 1,171 1,687 912 interest arrears on long-term .. .. 1 0 0 0 0 0 Memorandum items .. .. 1 0 0 0 0 0 .. .. 1,957 2,685 2,556 2,716 2,958 3,006 .. .. 663 2,435 2,767 3,335 4,175 4,398 .. .. 197 162 120 616 232 302 External debt flows Disbursements .. .. 138 859 536 754 1,022 473 Long-term external debt .. .. 103 841 536 754 1,022 473 IMF purchases .. 46 36 18 0 0 0 0 Principal repayments .. .. 190 121 134 188 145 139 Long-term external debt .. .. 170 73 95 144 127 137 IMF repurchases .. 28 20 48 39 44 18 2 Net flows .. .. -41 986 879 899 1,392 -441 Long-term external debt .. .. -68 768 441 609 895 336 Short-term external debt .. .. 11 247 477 334 516 -775 Interest payments .. .. 127 128 151 183 290 296 Long-term external debt .. .. 119 120 136 176 217 256 IMF charges .. 5 5 3 3 2 1 0 Short-term external debt .. .. 3 5 12 4 73 39 2. Other non-debt resource flows Foreign direct investment (net) .. .. 146 710 608 722 2,111 1,056 Portfolio equity flows .. .. 0 0 0 0 0 0 Profit remittances on FDI .. .. 0 59 97 180 304 320 Grants (excluding technical coop.) .. 870 570 289 272 254 281 272 of which: Debt forgiveness grants .. .. 125 4 4 5 6 7 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants .. 62 103 146 137 151 93 120 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 34.7 33.9 35.7 38.0 38.9 Japanese yen .. .. 0.0 1.2 1.2 1.3 1.2 1.5 Pound sterling .. .. 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. 2.3 2.0 1.7 1.2 1.2 1.2 U.S.dollars .. .. 27.6 39.6 41.3 40.9 40.1 39.1 4. Average terms of new commitments Official creditors Interest (%) .. .. 3.7 1.4 1.9 3.1 4.1 4.7 Maturity (years) .. .. 23.3 21.6 17.1 20.6 22.5 16.2 Grace period (years) .. .. 6.7 11.5 5.9 6.9 6.0 4.3 Private creditors Interest (%) .. .. 0.0 0.0 0.0 2.9 4.2 1.2 Maturity (years) .. .. 0.0 0.0 0.0 11.9 15.1 13.4 Grace period (years) .. .. 0.0 0.0 0.0 2.9 6.9 6.0 5. Major economic aggregates Gross national income (GNI) .. 1,625 6,096 10,506 11,216 12,726 15,640 18,962 Exports of goods, services & income .. .. 3,196 5,099 5,694 6,842 8,686 9,962 Worker remit. & comp. of employees .. .. 1,595 2,072 2,043 2,157 2,700 2,735 Imports of goods & services .. .. 4,234 7,259 8,103 8,468 11,049 13,539 International reserves .. .. 497 2,408 2,531 3,372 4,525 3,516 Current account balance .. .. -396 -1,639 -1,844 -981 -1,594 -2,764 6. Ratios External debt stocks to exports (%) .. .. 86.8 109.6 109.3 105.9 101.6 83.5 External debt stocks to GNI (%) .. .. 45.5 53.2 55.5 56.9 56.4 43.9 Debt service to exports (%) .. .. 9.9 4.9 5.0 5.4 5.0 4.4 Short-term to external debt stocks (%) .. .. 1.8 6.4 13.5 16.2 19.1 11.0 Multilateral to external debt stocks (%) .. .. 45.6 31.2 27.5 24.9 22.0 23.9 Reserves to external debt stocks (%) .. .. 17.9 43.1 40.7 46.6 51.3 42.3 Reserves to imports (months) .. .. 1.4 4.0 3.7 4.8 4.9 3.1 70 BOSNIA AND HERZEGOVINA 7. Long-term external debt Debt outstanding and disbursed .. .. 2,619 5,120 5,323 6,051 7,133 7,404 Public and publicly guaranteed .. .. 1,957 2,685 2,556 2,716 2,958 3,006 Official creditors .. .. 1,832 2,503 2,401 2,547 2,764 2,805 Multilateral .. .. 1,266 1,744 1,712 1,802 1,942 1,985 of which: IBRD .. 472 562 527 481 466 453 443 IDA .. 0 398 927 921 983 1,068 1,077 Bilateral .. .. 566 759 689 744 821 821 Private creditors .. .. 125 182 155 169 195 201 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 125 182 155 169 195 201 Private nonguaranteed .. .. 663 2,435 2,767 3,335 4,175 4,398 of which: Bonds .. .. 0 0 0 0 0 0 Disbursements .. .. 103 841 536 754 1,022 473 Public and publicly guaranteed .. .. 98 287 150 125 149 190 Official creditors .. .. 98 287 150 125 137 163 Multilateral .. .. 90 275 133 94 118 129 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 44 209 56 27 57 29 Bilateral .. .. 8 12 17 32 19 35 Private creditors .. .. 0 0 0 0 12 27 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 12 27 Private nonguaranteed .. .. 5 554 386 628 873 282 of which: Bonds .. .. 0 0 0 0 0 0 Principal repayments .. .. 170 73 95 144 127 137 Public and publicly guaranteed .. .. 170 51 54 67 79 91 Official creditors .. .. 170 51 51 63 72 82 Multilateral .. .. 166 35 44 56 63 71 of which: IBRD .. 0 0 24 24 24 24 25 IDA .. 0 0 0 0 4 9 12 Bilateral .. .. 3 15 7 8 9 11 Private creditors .. .. 0 0 3 3 7 9 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 3 3 7 9 Private nonguaranteed .. .. 1 22 41 78 48 46 of which: Bonds .. .. 0 0 0 0 0 0 Interest payments .. .. 119 120 136 176 217 256 Public and publicly guaranteed .. .. 89 47 53 61 70 80 Official creditors .. .. 86 42 48 56 63 70 Multilateral .. .. 74 29 35 43 49 54 of which: IBRD .. 0 33 15 17 23 26 26 IDA .. 0 3 6 7 8 8 8 Bilateral .. .. 13 13 13 13 14 16 Private creditors .. .. 2 5 6 6 6 10 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 2 5 6 6 6 10 Private nonguaranteed .. .. 30 73 83 114 147 176 of which: Bonds .. .. 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. 397 1,130 633 1,020 1,580 -506 Net flows on external debt .. .. -41 986 879 899 1,392 -441 Cross-currency valuation .. .. -116 115 -235 149 162 -51 9. Debt restructurings Total amount rescheduled .. .. 4 0 0 0 0 0 Total amount forgiven .. .. 0 0 0 0 0 0 Debt buyback .. .. 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 151 174 173 173 175 181 187 182 Interest 68 71 71 69 65 61 56 51 Private creditors Principal 1,193 878 788 470 376 276 232 190 Interest 181 132 97 67 48 34 24 15 Notes: Prior to 1999 data on long-term public and publicly guaranteed debt include only IBRD and IMF loans. Data on long-term private nonguaranteed debt from 2005 are World Bank staff estimates. 71 BOTSWANA 1. Summary external debt data External debt stocks 552.9 717.2 452.8 510.0 447.3 382.2 413.1 437.6 Long-term external debt 547.1 707.0 437.8 488.0 412.3 358.2 391.1 394.6 Public and publicly guaranteed 547.1 707.0 437.8 488.0 412.3 358.2 391.1 394.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 5.8 10.2 15.0 22.0 35.0 24.0 22.0 43.0 interest arrears on long-term 2.6 6.2 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items 2.7 9.0 1.0 0.0 0.0 0.0 0.0 0.0 547.1 676.4 432.4 488.0 412.3 358.2 391.1 394.6 0.0 30.5 5.4 0.0 0.0 0.0 0.0 0.0 80.6 0.0 0.0 20.0 0.0 74.7 49.5 0.0 External debt flows Disbursements 27.0 67.4 28.0 22.1 10.7 4.1 50.4 54.5 Long-term external debt 27.0 67.4 28.0 22.1 10.7 4.1 50.4 54.5 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 66.5 63.9 52.1 36.8 40.5 44.5 37.0 57.1 Long-term external debt 66.5 63.9 52.1 36.8 40.5 44.5 37.0 57.1 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows -39.4 4.0 -28.8 -21.7 -16.8 -51.4 11.4 18.4 Long-term external debt -39.5 3.4 -24.1 -14.7 -29.8 -40.4 13.4 -2.6 Short-term external debt 0.1 0.6 -4.7 -7.0 13.0 -11.0 -2.0 21.0 Interest payments 38.8 27.5 16.6 11.8 12.7 12.1 10.4 8.4 Long-term external debt 38.6 27.3 15.2 10.9 11.7 10.2 9.4 7.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 0.2 1.3 0.9 1.0 1.9 0.9 1.0 2. Other non-debt resource flows Foreign direct investment (net) 95.9 70.4 57.2 391.0 278.6 486.4 495.0 109.1 Portfolio equity flows 0.0 5.5 -5.9 0.6 61.6 35.9 9.4 -36.7 Profit remittances on FDI 406.9 415.7 657.9 1092.3 1065.7 1042.5 988.8 598.3 Grants (excluding technical coop.) 78.4 28.6 18.1 34.1 35.6 50.9 97.5 728.6 of which: Debt forgiveness grants .. .. 3.8 1.0 5.5 4.5 2.6 457.6 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 59.1 51.4 18.2 33.1 30.2 36.5 22.1 16.8 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 7.2 6.9 8.2 8.0 7.1 Japanese yen 4.4 11.1 11.4 17.4 17.1 10.4 13.3 13.7 Pound sterling 10.1 3.8 2.3 5.3 5.2 6.1 5.5 3.6 Swiss franc 0.0 0.1 0.1 0.2 0.1 0.0 0.0 0.0 U.S.dollars 11.9 13.4 18.0 19.9 20.5 20.8 18.3 25.6 4. Average terms of new commitments Official creditors Interest (%) 5.6 0.0 0.0 3.1 0.0 4.6 3.3 0.0 Maturity (years) 17.6 0.0 0.0 20.5 0.0 18.2 20.9 0.0 Grace period (years) 4.5 0.0 0.0 5.0 0.0 5.2 5.9 0.0 Private creditors Interest (%) 8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 11.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3685.7 4741.3 5825.9 8868.9 9664.4 10229.7 11730.5 12691.0 Exports of goods, services & income 2421.1 2903.8 3378.6 4744.0 5836.0 5899.7 6645.7 .. Worker remit. & comp. of employees 86.0 59.0 26.0 93.1 125.0 116.8 141.2 148.0 Imports of goods & services 2508.9 2565.3 3050.2 4910.4 4834.8 4752.5 5236.6 .. International reserves 3331.5 4695.5 6318.2 5661.4 6309.1 7992.4 9789.7 9118.6 Current account balance -19.3 299.7 545.2 308.9 1597.1 1939.8 2434.2 .. 6. Ratios External debt stocks to exports (%) 22.8 24.7 13.4 10.8 7.7 6.5 6.2 .. External debt stocks to GNI (%) 15.0 15.1 7.8 5.8 4.6 3.7 3.5 3.4 Debt service to exports (%) 4.3 3.1 2.0 1.0 0.9 1.0 0.7 .. Short-term to external debt stocks (%) 1.0 1.4 3.3 4.3 7.8 6.3 5.3 9.8 Multilateral to external debt stocks (%) 70.0 70.1 65.7 64.3 58.6 64.2 58.2 56.6 Reserves to external debt stocks (%) 602.5 654.7 1,395.5 1,110.0 1,410.5 2,091.3 2,369.9 2,083.6 Reserves to imports (months) 15.9 22.0 24.9 13.8 15.7 20.2 22.4 .. 72 BOTSWANA 7. Long-term external debt Debt outstanding and disbursed 547.1 707.0 437.8 488.0 412.3 358.2 391.1 394.6 Public and publicly guaranteed 547.1 707.0 437.8 488.0 412.3 358.2 391.1 394.6 Official creditors 519.7 660.0 409.9 474.0 400.6 348.8 384.0 388.8 Multilateral 387.1 502.9 297.4 327.7 262.0 245.2 240.4 247.6 of which: IBRD 155.2 96.3 15.6 3.4 2.1 1.1 0.0 0.0 IDA 13.6 11.5 9.1 7.2 6.7 6.3 5.8 5.3 Bilateral 132.7 157.2 112.5 146.3 138.6 103.6 143.6 141.2 Private creditors 27.4 47.0 27.9 14.0 11.7 9.4 7.1 5.9 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.0 32.8 19.9 8.7 7.1 5.5 3.9 3.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 27.0 67.4 28.0 22.1 10.7 4.1 50.4 54.5 Public and publicly guaranteed 27.0 67.4 28.0 22.1 10.7 4.1 50.4 54.5 Official creditors 27.0 67.4 24.3 22.1 10.7 4.1 50.4 54.5 Multilateral 20.5 23.3 7.9 4.5 0.2 1.5 7.9 43.9 of which: IBRD 7.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 6.5 44.0 16.4 17.6 10.5 2.6 42.5 10.5 Private creditors 0.0 0.0 3.8 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 3.8 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 66.5 63.9 52.1 36.8 40.5 44.5 37.0 57.1 Public and publicly guaranteed 66.5 63.9 52.1 36.8 40.5 44.5 37.0 57.1 Official creditors 48.0 57.7 45.3 36.0 38.2 42.2 34.7 55.8 Multilateral 36.6 48.3 33.2 25.5 28.3 30.0 24.8 25.9 of which: IBRD 19.0 23.7 7.4 1.7 1.1 1.1 1.1 0.0 IDA 0.3 0.5 0.5 0.5 0.5 0.5 0.5 0.5 Bilateral 11.4 9.4 12.1 10.5 9.8 12.2 9.8 29.9 Private creditors 18.5 6.2 6.9 0.8 2.3 2.3 2.3 1.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.2 4.5 6.2 0.2 1.6 1.6 1.6 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 38.6 27.3 15.2 10.9 11.7 10.2 9.4 7.4 Public and publicly guaranteed 38.6 27.3 15.2 10.9 11.7 10.2 9.4 7.4 Official creditors 35.6 24.2 13.9 10.7 11.5 10.0 9.2 7.3 Multilateral 27.8 21.0 11.1 7.8 7.8 6.9 5.8 4.6 of which: IBRD 14.2 8.6 1.2 0.2 0.1 0.1 0.0 0.0 IDA 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 Bilateral 7.8 3.2 2.9 2.9 3.7 3.0 3.4 2.7 Private creditors 3.0 3.0 1.3 0.2 0.2 0.3 0.2 0.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.1 2.2 0.7 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 3.1 16.8 -51.5 -3.6 -62.7 -65.1 30.9 24.5 Net flows on external debt -39.4 4.0 -28.8 -21.7 -16.8 -51.4 11.4 18.4 Cross-currency valuation 21.2 0.2 -10.5 4.0 -24.3 -4.2 1.3 20.7 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 27.6 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 36.6 34.4 45.8 33.7 29.4 26.6 26.0 21.9 Interest 8.4 7.8 7.0 5.9 5.1 4.5 3.9 3.3 Private creditors Principal 0.5 0.5 0.5 0.5 0.0 0.0 0.0 0.0 Interest 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country. 73 BRAZIL 1. Summary external debt data External debt stocks 119,732 160,469 241,552 219,499 187,431 193,516 237,472 255,614 Long-term external debt 94,196 129,090 208,811 169,203 163,438 173,191 198,224 218,962 Public and publicly guaranteed 87,525 98,260 96,130 96,818 93,933 84,302 79,957 73,623 Private nonguaranteed 6,671 30,830 112,682 72,384 69,505 88,889 118,267 145,339 Use of IMF credit 1,821 142 1,768 25,029 0 0 0 0 Short-term external debt 23,715 31,238 30,973 25,268 23,993 20,325 39,248 36,652 interest arrears on long-term 8,790 1,546 176 1 0 2 2 8 Memorandum items 3,597 3,936 1,821 19 18 4 6 5 86,955 97,392 95,684 95,442 92,583 83,101 78,595 72,481 7,241 31,698 113,127 73,761 70,855 90,090 119,628 146,481 3,012 7,606 30,534 10,034 12,627 9,038 7,008 11,866 External debt flows Disbursements 4,087 20,207 44,054 26,834 27,398 52,614 59,831 68,857 Long-term external debt 4,087 20,207 44,054 26,834 27,398 52,614 59,831 68,857 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 5,896 11,051 47,733 38,782 49,371 47,362 40,341 39,593 Long-term external debt 5,131 11,002 41,040 34,425 25,561 47,362 40,341 39,593 IMF repurchases 765 49 6,693 4,357 23,810 0 0 0 Net flows -1,710 8,797 -1,848 -11,275 -23,247 1,582 38,412 26,662 Long-term external debt -1,044 9,205 3,014 -7,591 1,837 5,252 19,489 29,264 Short-term external debt 99 -359 1,831 673 -1,274 -3,670 18,923 -2,602 Interest payments 2,260 10,522 17,111 14,707 13,271 14,783 14,978 15,827 Long-term external debt 2,029 8,719 15,280 11,549 10,292 13,148 13,016 14,688 IMF charges 231 10 336 1,208 1,079 109 0 0 Short-term external debt 0 1,792 1,494 1,950 1,900 1,526 1,962 1,138 2. Other non-debt resource flows Foreign direct investment (net) 989 4,859 32,779 18,166 15,066 18,782 34,585 45,058 Portfolio equity flows 103 2,775 3,076 2,081 6,451 7,716 26,217 -7,565 Profit remittances on FDI 1,892 2,814 4,238 6,860 11,035 13,884 19,692 28,773 Grants (excluding technical coop.) 41 65 54 91 113 94 155 211 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 145 239 187 200 194 207 251 244 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.9 9.5 10.4 9.8 9.7 Japanese yen 7.4 8.6 7.4 6.9 6.1 5.4 4.6 6.3 Pound sterling 1.8 1.8 1.0 0.4 0.3 0.3 0.0 0.1 Swiss franc 1.0 0.3 0.3 0.1 0.1 0.0 0.0 0.0 U.S.dollars 60.5 68.3 70.4 74.2 79.3 79.0 80.8 79.5 4. Average terms of new commitments Official creditors Interest (%) 7.4 5.9 5.7 3.0 4.5 5.0 4.9 3.9 Maturity (years) 15.2 19.9 8.6 16.9 18.5 17.3 15.1 23.9 Grace period (years) 4.1 4.9 1.2 3.8 4.3 4.4 3.9 3.6 Private creditors Interest (%) 9.0 7.7 9.9 7.2 8.7 7.5 9.1 5.5 Maturity (years) 8.0 3.3 15.4 12.8 14.5 15.2 17.6 14.3 Grace period (years) 3.2 2.1 14.2 11.5 14.0 15.1 17.5 13.9 5. Major economic aggregates Gross national income (GNI) 449,672 757,886 626,768 647,037 860,431 1,066,442 1,309,158 1,576,869 Exports of goods, services & income 36,854 58,989 69,317 114,716 140,030 166,598 198,905 243,816 Worker remit. & comp. of employees 573 3,315 1,649 3,575 3,540 4,253 4,382 5,089 Imports of goods & services 40,949 77,855 93,950 103,788 127,123 154,393 198,574 273,320 International reserves 9,200 51,477 33,015 52,935 53,799 85,843 180,334 193,784 Current account balance -3,823 -18,136 -24,225 11,738 13,985 13,621 1,551 -28,192 6. Ratios External debt stocks to exports (%) 324.9 272.0 348.5 191.3 133.9 116.2 119.4 104.8 External debt stocks to GNI (%) 26.6 21.2 38.5 33.9 21.8 18.1 18.1 16.2 Debt service to exports (%) 22.1 36.6 93.5 46.6 44.7 37.3 27.8 22.7 Short-term to external debt stocks (%) 19.8 19.5 12.8 11.5 12.8 10.5 16.5 14.3 Multilateral to external debt stocks (%) 9.5 5.8 7.6 8.9 10.3 11.2 9.7 7.3 Reserves to external debt stocks (%) 7.7 32.1 13.7 24.1 28.7 44.4 75.9 75.8 Reserves to imports (months) 2.7 7.9 4.2 6.1 5.1 6.7 10.9 8.5 74 BRAZIL 7. Long-term external debt Debt outstanding and disbursed 94,196 129,090 208,811 169,203 163,438 173,191 198,224 218,962 Public and publicly guaranteed 87,525 98,260 96,130 96,818 93,933 84,302 79,957 73,623 Official creditors 29,348 27,837 29,360 27,440 25,872 25,307 26,511 23,145 Multilateral 11,391 9,366 18,240 19,431 19,247 21,741 23,036 18,574 of which: IBRD 8,427 6,038 7,377 8,668 8,083 9,694 9,676 10,671 IDA 0 0 0 0 0 0 0 0 Bilateral 17,956 18,471 11,120 8,008 6,625 3,565 3,476 4,571 Private creditors 58,177 70,423 66,769 69,378 68,061 58,995 53,445 50,479 of which: Bonds 2,339 54,615 54,096 55,348 56,927 47,112 43,619 41,030 Commercial banks 47,461 12,159 11,484 13,215 10,468 11,862 9,193 8,242 Private nonguaranteed 6,671 30,830 112,682 72,384 69,505 88,889 118,267 145,339 of which: Bonds 0 11,290 16,846 38,376 35,969 38,764 45,311 37,855 Disbursements 4,087 20,207 44,054 26,834 27,398 52,614 59,831 68,857 Public and publicly guaranteed 3,212 8,111 19,639 12,730 13,192 11,114 6,695 16,002 Official creditors 1,322 2,005 5,257 2,784 3,324 4,146 2,566 3,750 Multilateral 1,001 1,257 4,468 1,937 2,324 3,753 2,472 2,566 of which: IBRD 782 838 1,692 1,447 773 2,203 606 1,726 IDA 0 0 0 0 0 0 0 0 Bilateral 321 747 790 847 1,000 392 94 1,184 Private creditors 1,890 6,107 14,381 9,946 9,868 6,969 4,129 12,252 of which: Bonds 200 1,661 10,836 5,743 8,252 5,614 2,977 9,254 Commercial banks 864 4,342 3,537 4,175 1,608 1,336 712 1,991 Private nonguaranteed 875 12,096 24,415 14,105 14,207 41,500 53,135 52,854 of which: Bonds 0 4,563 2,886 5,199 6,579 9,832 13,930 6,754 Principal repayments 5,131 11,002 41,040 34,425 25,561 47,362 40,341 39,593 Public and publicly guaranteed 4,123 6,522 17,226 13,218 9,255 24,448 13,999 15,591 Official creditors 1,956 3,719 7,048 5,440 3,301 4,538 2,276 1,674 Multilateral 1,518 1,683 4,308 3,414 1,757 1,496 1,664 1,071 of which: IBRD 1,251 1,377 887 1,564 1,029 743 805 812 IDA 0 0 0 0 0 0 0 0 Bilateral 439 2,035 2,740 2,025 1,544 3,042 612 602 Private creditors 2,167 2,804 10,178 7,778 5,954 19,911 11,723 13,917 of which: Bonds 71 919 8,397 5,707 4,187 17,801 7,866 11,952 Commercial banks 1,616 1,051 1,547 2,050 1,747 2,089 3,789 1,885 Private nonguaranteed 1,008 4,480 23,813 21,208 16,306 22,914 26,343 24,002 of which: Bonds 0 2,669 2,775 9,671 7,063 5,479 8,471 2,420 Interest payments 2,029 8,719 15,280 11,549 10,292 13,148 13,016 14,688 Public and publicly guaranteed 1,569 6,624 6,926 7,055 6,678 7,133 7,075 5,740 Official creditors 1,273 1,567 1,916 1,188 1,048 1,221 1,362 996 Multilateral 966 750 1,400 840 801 963 1,176 824 of which: IBRD 725 491 464 287 307 432 548 498 IDA 0 0 0 0 0 0 0 0 Bilateral 307 817 516 348 247 257 186 172 Private creditors 296 5,056 5,010 5,867 5,630 5,913 5,713 4,744 of which: Bonds 14 4,416 4,212 4,870 4,842 4,822 4,780 4,240 Commercial banks 46 376 759 994 785 1,088 904 458 Private nonguaranteed 460 2,095 8,355 4,494 3,614 6,014 5,940 8,948 of which: Bonds 0 837 1,562 3,046 2,161 3,799 3,454 2,842 8. Debt stock-flow reconciliation Total change in external debt stocks 5,375 8,075 -2,555 -15,317 -32,069 6,085 43,956 24,582 Net flows on external debt -1,710 8,797 -1,848 -11,275 -23,247 1,582 38,412 26,662 Cross-currency valuation 2,995 660 -2,445 2,676 -3,927 1,215 1,529 904 9. Debt restructurings Total amount rescheduled 1,316 234 0 86 4,271 0 28 258 Total amount forgiven 483 0 137 0 0 0 0 56 Debt buyback 776 0 6,342 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 2,748 2,573 2,750 2,950 2,571 2,158 2,089 1,823 Interest 850 797 727 642 548 466 392 320 Private creditors Principal 26,385 24,562 20,203 16,994 13,163 10,347 15,622 12,687 Interest 9,763 9,154 8,328 7,388 6,723 5,957 5,191 4,220 Notes: Short-term debt for 2008 is based on reports provided by the country. 75 BULGARIA 1. Summary external debt data External debt stocks 10,890 10,379 11,212 15,666 15,700 20,990 32,968 38,045 Long-term external debt 9,834 9,150 8,440 11,221 10,597 12,609 18,931 19,552 Public and publicly guaranteed 9,834 8,808 7,671 7,414 5,075 5,066 5,243 4,663 Private nonguaranteed 0 342 769 3,807 5,522 7,543 13,689 14,889 Use of IMF credit 0 717 1,322 1,183 660 341 0 0 Short-term external debt 1,056 512 1,450 3,262 4,442 8,040 14,036 18,493 interest arrears on long-term 226 74 0 26 0 0 0 0 Memorandum items 356 227 1 0 0 0 0 0 9,834 8,808 7,671 7,414 5,075 5,066 5,200 4,624 0 342 769 3,807 5,522 7,543 13,732 14,928 563 678 700 566 266 104 444 374 External debt flows Disbursements 875 259 995 3,054 3,710 3,616 7,741 7,141 Long-term external debt 875 259 719 2,977 3,710 3,616 7,741 7,141 IMF purchases 0 0 276 77 0 0 0 0 Principal repayments 865 565 712 1,806 3,352 1,992 3,033 3,408 Long-term external debt 865 319 573 1,674 2,909 1,645 2,686 3,408 IMF repurchases 0 246 139 132 443 346 347 0 Net flows -14 -194 465 1,823 1,564 5,222 10,705 8,189 Long-term external debt 11 -61 145 1,303 801 1,970 5,055 3,732 Short-term external debt -24 113 183 574 1,206 3,598 5,996 4,457 Interest payments 510 575 584 543 613 744 1,164 1,561 Long-term external debt 452 501 456 424 445 489 603 803 IMF charges 0 50 63 31 37 24 9 0 Short-term external debt 58 24 65 89 130 230 552 758 2. Other non-debt resource flows Foreign direct investment (net) 4 90 1,002 2,662 4,312 7,758 11,706 9,205 Portfolio equity flows 0 0 5 22 449 148 101 -106 Profit remittances on FDI 0 0 107 755 912 1,857 2,788 3,238 Grants (excluding technical coop.) 3 22 126 410 0 0 0 0 of which: Debt forgiveness grants .. .. 2 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 1 91 150 202 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 39.5 48.4 50.7 52.4 50.7 Japanese yen 6.6 9.0 5.5 3.5 5.1 6.5 7.4 12.2 Pound sterling 0.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 7.7 1.1 0.3 0.0 0.0 0.0 0.0 0.0 U.S.dollars 42.1 66.1 80.1 55.8 44.9 41.7 39.3 36.4 4. Average terms of new commitments Official creditors Interest (%) 9.3 5.9 6.2 2.8 3.0 3.7 4.8 4.3 Maturity (years) 7.2 17.3 15.7 15.3 16.2 16.1 16.8 16.8 Grace period (years) 3.0 5.4 4.4 4.8 4.7 2.6 4.5 4.0 Private creditors Interest (%) 9.1 3.4 7.6 8.9 4.2 5.0 0.0 2.0 Maturity (years) 3.2 4.7 16.0 9.4 9.4 10.0 0.0 29.2 Grace period (years) 2.3 3.2 4.9 4.9 1.9 0.5 0.0 9.2 5. Major economic aggregates Gross national income (GNI) 19,083 12,681 12,281 24,953 27,271 30,800 38,029 48,137 Exports of goods, services & income 7,070 6,926 7,321 15,936 18,136 22,392 27,581 33,704 Worker remit. & comp. of employees .. .. 58 1,723 1,613 1,716 2,132 2,634 Imports of goods & services 8,905 7,084 8,314 18,093 22,034 28,680 37,687 46,575 International reserves .. 1,635 3,507 9,337 8,697 11,756 17,545 17,930 Current account balance -1,710 -26 -703 -1,671 -3,347 -5,863 -10,040 -12,577 6. Ratios External debt stocks to exports (%) 154.0 149.9 153.2 98.3 86.6 93.7 119.5 112.9 External debt stocks to GNI (%) 57.1 81.8 91.3 62.8 57.6 68.1 86.7 79.0 Debt service to exports (%) 19.4 16.5 17.7 14.7 21.9 12.2 15.2 14.7 Short-term to external debt stocks (%) 9.7 4.9 12.9 20.8 28.3 38.3 42.6 48.6 Multilateral to external debt stocks (%) 2.0 11.9 13.8 16.8 15.7 11.4 8.2 5.8 Reserves to external debt stocks (%) .. 15.8 31.3 59.6 55.4 56.0 53.2 47.1 Reserves to imports (months) .. 2.8 5.1 6.2 4.7 4.9 5.6 4.6 76 BULGARIA 7. Long-term external debt Debt outstanding and disbursed 9,834 9,150 8,440 11,221 10,597 12,609 18,931 19,552 Public and publicly guaranteed 9,834 8,808 7,671 7,414 5,075 5,066 5,243 4,663 Official creditors 1,669 2,950 2,603 3,286 3,045 3,012 3,363 3,010 Multilateral 222 1,230 1,542 2,634 2,457 2,392 2,688 2,211 of which: IBRD 0 444 824 1,498 1,453 1,331 1,604 1,207 IDA 0 0 0 0 0 0 0 0 Bilateral 1,447 1,720 1,061 652 587 620 675 799 Private creditors 8,165 5,857 5,068 4,127 2,030 2,054 1,880 1,652 of which: Bonds 327 5,412 4,982 3,945 1,920 1,937 1,792 1,617 Commercial banks 7,084 394 26 105 111 116 86 34 Private nonguaranteed 0 342 769 3,807 5,522 7,543 13,689 14,889 of which: Bonds 0 0 0 315 526 736 855 522 Disbursements 875 259 719 2,977 3,710 3,616 7,741 7,141 Public and publicly guaranteed 875 259 405 435 402 260 369 361 Official creditors 80 129 381 400 383 243 362 353 Multilateral 44 38 156 373 328 150 307 227 of which: IBRD 0 15 71 204 200 38 201 56 IDA 0 0 0 0 0 0 0 0 Bilateral 36 91 225 27 55 93 55 126 Private creditors 795 129 24 35 19 17 7 8 of which: Bonds 65 33 0 0 0 0 0 0 Commercial banks 652 96 24 35 19 16 7 8 Private nonguaranteed 0 0 313 2,542 3,308 3,355 7,372 6,780 of which: Bonds 0 0 0 253 249 215 0 0 Principal repayments 865 319 573 1,674 2,909 1,645 2,686 3,408 Public and publicly guaranteed 865 319 345 981 1,761 515 404 731 Official creditors 23 92 297 273 255 502 299 713 Multilateral 22 25 58 179 214 430 253 659 of which: IBRD 0 0 27 80 85 276 65 462 IDA 0 0 0 0 0 0 0 0 Bilateral 1 67 239 93 41 73 47 54 Private creditors 842 228 48 708 1,507 13 105 19 of which: Bonds 0 39 46 696 1,496 0 87 0 Commercial banks 241 182 1 9 11 13 18 19 Private nonguaranteed 0 0 229 693 1,147 1,130 2,282 2,677 of which: Bonds 0 0 0 0 10 49 0 287 Interest payments 452 501 456 424 445 489 603 803 Public and publicly guaranteed 452 501 424 351 327 352 285 288 Official creditors 14 178 139 94 93 100 129 147 Multilateral 13 61 81 75 75 82 110 125 of which: IBRD 0 31 49 41 40 44 62 72 IDA 0 0 0 0 0 0 0 0 Bilateral 0 118 58 19 18 19 19 22 Private creditors 438 323 285 256 234 252 156 141 of which: Bonds 15 315 284 253 229 245 149 136 Commercial banks 337 7 0 4 5 7 7 5 Private nonguaranteed 0 0 32 73 118 137 318 514 of which: Bonds 0 0 0 5 30 44 55 36 8. Debt stock-flow reconciliation Total change in external debt stocks 753 550 192 2,314 33 5,290 11,978 5,077 Net flows on external debt -14 -194 465 1,823 1,564 5,222 10,705 8,189 Cross-currency valuation 617 107 -215 220 -488 280 299 -7 9. Debt restructurings Total amount rescheduled 0 84 0 0 0 0 0 0 Total amount forgiven 0 0 12 0 72 14 20 86 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 492 258 225 236 261 264 251 239 Interest 111 94 86 79 72 63 54 45 Private creditors Principal 3,092 2,782 2,200 1,665 2,297 910 2,278 1,300 Interest 486 468 387 322 294 202 125 60 Notes: Short-term debt is based on Central Bank data. 77 BURKINA FASO 1. Summary external debt data External debt stocks 832 1,271 1,422 1,990 1,994 1,123 1,456 1,681 Long-term external debt 748 1,140 1,226 1,851 1,868 999 1,263 1,517 Public and publicly guaranteed 748 1,140 1,226 1,851 1,868 999 1,263 1,517 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 0 75 112 115 104 35 37 54 Short-term external debt 84 56 84 24 22 89 155 110 interest arrears on long-term 21 12 5 0 0 0 0 0 Memorandum items 64 37 42 33 36 39 37 34 747 1,140 1,226 1,851 1,868 999 1,263 1,517 1 0 0 0 0 0 0 0 90 37 53 177 232 294 389 400 External debt flows Disbursements 77 139 99 256 218 301 226 330 Long-term external debt 77 112 91 250 203 282 225 311 IMF purchases 0 27 7 5 15 19 1 18 Principal repayments 19 28 33 35 28 32 25 30 Long-term external debt 18 28 26 32 24 32 25 30 IMF repurchases 1 0 7 3 4 0 0 0 Net flows 68 124 47 231 188 336 267 255 Long-term external debt 59 83 65 219 179 250 200 282 Short-term external debt 10 14 -19 10 -2 67 66 -45 Interest payments 16 20 14 17 17 17 16 17 Long-term external debt 10 18 12 16 16 16 12 14 IMF charges 0 0 1 1 0 0 0 0 Short-term external debt 6 2 1 1 1 2 5 3 2. Other non-debt resource flows Foreign direct investment (net) 0 10 23 14 34 34 344 137 Portfolio equity flows 0 0 -3 0 0 0 0 0 Profit remittances on FDI 6 0 3 0 0 0 0 0 Grants (excluding technical coop.) 158 242 378 408 430 1,668 654 652 of which: Debt forgiveness grants .. .. 190 56 41 1,217 17 21 IDA grants .. .. .. 1 22 36 90 20 Memo: technical coop. grants 112 123 76 103 96 127 111 97 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.3 1.7 6.2 6.6 12.9 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.5 0.3 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 39.1 55.5 59.4 58.8 56.5 40.3 39.2 35.9 4. Average terms of new commitments Official creditors Interest (%) 2.5 0.8 1.4 0.8 0.9 0.8 1.3 1.1 Maturity (years) 27.6 39.9 37.1 36.0 35.8 40.9 32.6 35.5 Grace period (years) 8.7 10.4 7.8 8.6 8.8 10.1 8.5 9.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 4.2 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 11.2 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 1.7 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,094 2,369 2,606 5,102 5,411 5,756 6,752 7,932 Exports of goods, services & income 506 .. 313 .. .. .. .. .. Worker remit. & comp. of employees 140 80 67 50 50 50 50 50 Imports of goods & services 776 .. 691 .. .. .. .. .. International reserves 305 347 244 669 438 555 1,029 926 Current account balance -77 .. -319 .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 164.3 .. 454.3 .. .. .. .. .. External debt stocks to GNI (%) 26.9 53.6 54.6 39.0 36.9 19.5 21.6 21.2 Debt service to exports (%) 6.8 .. 14.9 .. .. .. .. .. Short-term to external debt stocks (%) 10.1 4.4 5.9 1.2 1.1 7.9 10.7 6.5 Multilateral to external debt stocks (%) 67.7 77.2 72.0 84.3 85.2 69.8 67.3 71.7 Reserves to external debt stocks (%) 36.6 27.3 17.1 33.6 22.0 49.4 70.7 55.1 Reserves to imports (months) 4.7 .. 4.2 .. .. .. .. .. 78 BURKINA FASO 7. Long-term external debt Debt outstanding and disbursed 748 1,140 1,226 1,851 1,868 999 1,263 1,517 Public and publicly guaranteed 748 1,140 1,226 1,851 1,868 999 1,263 1,517 Official creditors 710 1,135 1,222 1,851 1,868 987 1,237 1,495 Multilateral 563 981 1,024 1,676 1,699 784 980 1,205 of which: IBRD 0 0 0 0 0 0 0 0 IDA 282 608 593 1,027 1,043 371 468 626 Bilateral 147 154 198 175 169 202 258 291 Private creditors 38 5 3 0 0 12 26 22 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 77 112 91 250 203 282 225 311 Public and publicly guaranteed 77 112 91 250 203 282 225 311 Official creditors 77 112 91 250 203 270 212 311 Multilateral 43 106 76 204 191 232 161 256 of which: IBRD 0 0 0 0 0 0 0 0 IDA 15 85 38 132 107 125 80 160 Bilateral 34 6 16 46 13 38 50 55 Private creditors 0 0 0 0 0 12 14 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 18 28 26 32 24 32 25 30 Public and publicly guaranteed 18 28 26 32 24 32 25 30 Official creditors 18 28 26 32 24 32 23 27 Multilateral 13 24 20 23 17 23 11 12 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 4 1 4 5 7 0 0 Bilateral 4 4 6 8 8 9 11 15 Private creditors 0 0 0 0 0 0 3 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 10 18 12 16 16 16 12 14 Public and publicly guaranteed 10 18 12 16 16 16 12 14 Official creditors 10 18 12 16 16 15 12 14 Multilateral 7 11 9 13 14 13 9 11 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 4 4 7 8 5 4 4 Bilateral 3 6 2 3 2 3 3 3 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 115 139 -161 260 5 -871 333 226 Net flows on external debt 68 124 47 231 188 336 267 255 Cross-currency valuation 25 -20 -229 50 -123 -876 6 -1 9. Debt restructurings Total amount rescheduled 0 0 17 112 1 4 0 1 Total amount forgiven 5 15 78 20 31 1,199 3 7 Debt buyback 0 0 92 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 51 49 49 53 62 67 71 77 Interest 20 21 22 22 22 21 21 20 Private creditors Principal 3 3 3 3 3 3 3 3 Interest 1 1 1 1 0 0 0 0 Notes: Burkina Faso was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 79 BURUNDI 1. Summary external debt data External debt stocks 907 1,162 1,108 1,390 1,322 1,412 1,456 1,445 Long-term external debt 851 1,099 1,036 1,327 1,230 1,291 1,344 1,308 Public and publicly guaranteed 851 1,099 1,036 1,327 1,230 1,291 1,344 1,308 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 43 48 7 41 58 83 98 117 Short-term external debt 13 15 65 23 34 38 14 19 interest arrears on long-term 0 2 20 20 33 37 13 4 Memorandum items 0 3 82 68 75 76 60 67 849 1,099 1,036 1,327 1,230 1,291 1,344 1,308 2 0 0 0 0 0 0 0 126 39 50 94 39 4 2 37 External debt flows Disbursements 96 45 41 86 63 60 42 47 Long-term external debt 96 45 41 47 42 39 31 25 IMF purchases 0 0 0 39 21 21 11 22 Principal repayments 28 27 14 71 27 29 28 31 Long-term external debt 28 18 9 43 27 29 28 31 IMF repurchases 1 9 5 29 0 0 0 0 Net flows 65 26 18 17 34 31 14 29 Long-term external debt 68 27 32 4 15 10 3 -6 Short-term external debt -3 8 -9 3 -2 0 0 14 Interest payments 14 12 8 17 12 10 11 11 Long-term external debt 12 11 4 16 12 9 11 10 IMF charges 0 0 0 0 0 0 0 1 Short-term external debt 2 1 3 0 0 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 1 2 12 0 1 0 1 4 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 3 3 0 6 2 3 5 5 Grants (excluding technical coop.) 135 229 59 264 287 324 421 436 of which: Debt forgiveness grants .. .. 6 7 14 4 24 44 IDA grants .. .. .. 14 23 68 61 52 Memo: technical coop. grants 60 44 15 27 39 50 40 63 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.0 11.1 11.4 11.9 10.0 Japanese yen 2.0 2.9 2.8 1.5 1.4 0.7 0.7 1.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 50.3 55.1 59.4 60.9 61.8 61.3 60.4 60.2 4. Average terms of new commitments Official creditors Interest (%) 0.9 0.8 1.7 0.8 0.8 0.0 1.5 1.0 Maturity (years) 40.4 38.0 31.3 40.0 47.8 19.6 22.5 19.5 Grace period (years) 10.3 9.9 8.2 10.5 10.2 10.1 4.7 6.4 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,117 988 723 646 776 910 974 1,159 Exports of goods, services & income 98 140 55 66 99 97 98 150 Worker remit. & comp. of employees .. .. .. 0 0 0 0 4 Imports of goods & services 341 282 165 253 344 460 449 544 International reserves 112 216 38 66 101 131 177 267 Current account balance -69 10 -50 -32 -6 -134 -110 -212 6. Ratios External debt stocks to exports (%) 928.7 831.6 1,999.7 2,119.8 1,337.7 1,450.3 1,478.4 960.6 External debt stocks to GNI (%) 81.2 117.6 153.2 215.1 170.3 155.1 149.5 124.7 Debt service to exports (%) 43.4 27.6 39.4 134.0 39.8 40.1 40.0 28.1 Short-term to external debt stocks (%) 1.5 1.3 5.9 1.6 2.6 2.7 0.9 1.3 Multilateral to external debt stocks (%) 72.7 80.1 80.4 81.8 80.3 79.6 80.9 80.6 Reserves to external debt stocks (%) 12.3 18.6 3.4 4.8 7.6 9.3 12.2 18.5 Reserves to imports (months) 3.9 9.2 2.7 3.1 3.5 3.4 4.7 5.9 80 BURUNDI 7. Long-term external debt Debt outstanding and disbursed 851 1,099 1,036 1,327 1,230 1,291 1,344 1,308 Public and publicly guaranteed 851 1,099 1,036 1,327 1,230 1,291 1,344 1,308 Official creditors 842 1,098 1,032 1,320 1,227 1,291 1,343 1,308 Multilateral 660 930 890 1,137 1,062 1,124 1,178 1,165 of which: IBRD 0 0 0 0 0 0 0 0 IDA 398 591 600 793 751 797 830 819 Bilateral 182 167 142 183 166 167 166 144 Private creditors 9 2 4 7 2 1 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 96 45 41 47 42 39 31 25 Public and publicly guaranteed 96 45 41 47 42 39 31 25 Official creditors 93 45 38 47 42 37 31 25 Multilateral 64 41 38 47 42 37 30 24 of which: IBRD 0 0 0 0 0 0 0 0 IDA 49 27 36 43 27 29 19 14 Bilateral 30 4 0 0 0 0 2 0 Private creditors 2 0 3 0 0 2 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 28 18 9 43 27 29 28 31 Public and publicly guaranteed 28 18 9 43 27 29 28 31 Official creditors 19 17 9 38 23 25 28 31 Multilateral 11 12 9 38 22 25 27 30 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 3 9 14 9 16 18 20 Bilateral 8 5 0 0 0 0 1 1 Private creditors 8 1 0 5 5 4 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 12 11 4 16 12 9 11 10 Public and publicly guaranteed 12 11 4 16 12 9 11 10 Official creditors 11 11 4 16 12 9 11 10 Multilateral 9 9 4 15 12 9 9 9 of which: IBRD 0 0 0 0 0 0 0 0 IDA 3 5 4 6 4 6 6 7 Bilateral 2 2 0 1 0 1 2 1 Private creditors 1 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 18 35 -27 62 -69 90 44 -11 Net flows on external debt 65 26 18 17 34 31 14 29 Cross-currency valuation 26 -30 -38 45 -93 51 58 -6 9. Debt restructurings Total amount rescheduled 0 0 0 54 0 4 3 0 Total amount forgiven 105 17 0 2 11 8 22 48 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 47 42 42 42 46 46 48 49 Interest 10 9 9 9 9 8 8 8 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $21,071 in thousands and $22,871 in thousands respectively. 81 CAMBODIA 1. Summary external debt data External debt stocks 1,845 2,284 2,628 3,439 3,515 3,527 3,761 4,215 Long-term external debt 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 Public and publicly guaranteed 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 27 72 73 97 81 0 0 0 Short-term external debt 136 102 227 262 279 209 224 323 interest arrears on long-term 103 90 131 228 243 173 164 197 Memorandum items 393 653 1,275 1,444 1,485 1,508 1,545 1,599 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 0 0 0 0 0 0 0 0 0 161 185 218 208 149 390 305 External debt flows Disbursements 0 123 90 168 168 153 154 383 Long-term external debt 0 80 79 168 168 153 154 383 IMF purchases 0 42 11 0 0 0 0 0 Principal repayments 0 5 14 15 16 15 13 19 Long-term external debt 0 5 7 5 8 15 13 19 IMF repurchases 0 0 7 10 9 0 0 0 Net flows 15 100 128 172 154 138 165 430 Long-term external debt 0 75 72 163 160 138 141 364 Short-term external debt 15 -18 52 20 2 0 24 66 Interest payments 30 3 18 12 15 15 18 23 Long-term external debt 29 1 12 11 12 13 15 21 IMF charges 0 1 1 0 0 0 0 0 Short-term external debt 1 1 5 1 2 2 3 2 2. Other non-debt resource flows Foreign direct investment (net) 0 151 149 131 381 483 867 815 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 -4 123 205 227 270 353 403 Grants (excluding technical coop.) 23 312 201 184 229 332 417 431 of which: Debt forgiveness grants .. .. 0 0 0 84 1 0 IDA grants .. .. .. 1 2 6 23 19 Memo: technical coop. grants 19 143 100 155 182 181 131 150 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.9 0.8 0.8 0.9 0.9 Japanese yen 0.6 0.4 0.3 1.2 1.1 1.2 1.5 2.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 12.6 27.2 30.2 39.2 39.4 39.0 39.0 40.1 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.8 1.3 0.9 1.4 1.0 1.5 1.2 Maturity (years) 0.0 37.5 30.3 30.3 26.9 26.2 23.6 29.4 Grace period (years) 0.0 9.7 8.2 8.9 9.2 9.8 7.7 8.6 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 3,182 3,623 5,289 6,200 7,003 7,997 9,166 Exports of goods, services & income .. 989 1,993 3,586 4,256 5,260 5,932 6,651 Worker remit. & comp. of employees .. 12 121 177 200 297 353 325 Imports of goods & services .. 1,442 2,453 4,053 4,923 5,971 6,864 8,112 International reserves .. 192 611 1,118 1,158 1,411 2,140 2,639 Current account balance .. -186 -136 -183 -307 -261 -543 -1,053 6. Ratios External debt stocks to exports (%) .. 230.9 131.9 95.9 82.6 67.1 63.4 63.4 External debt stocks to GNI (%) .. 71.8 72.5 65.0 56.7 50.4 47.0 46.0 Debt service to exports (%) .. 0.7 1.6 0.8 0.7 0.6 0.5 0.6 Short-term to external debt stocks (%) 7.3 4.5 8.6 7.6 7.9 5.9 6.0 7.7 Multilateral to external debt stocks (%) 0.1 5.2 14.5 29.5 30.1 33.1 34.5 33.7 Reserves to external debt stocks (%) .. 8.4 23.3 32.5 32.9 40.0 56.9 62.6 Reserves to imports (months) .. 1.6 3.0 3.3 2.8 2.8 3.7 3.9 82 CAMBODIA 7. Long-term external debt Debt outstanding and disbursed 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 Public and publicly guaranteed 1,683 2,110 2,328 3,080 3,155 3,318 3,537 3,892 Official creditors 1,683 2,097 2,328 3,080 3,155 3,318 3,537 3,892 Multilateral 1 118 381 1,013 1,059 1,168 1,298 1,420 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 65 207 467 462 500 535 545 Bilateral 1,681 1,979 1,947 2,066 2,096 2,150 2,239 2,472 Private creditors 0 13 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 0 80 79 168 168 153 154 383 Public and publicly guaranteed 0 80 79 168 168 153 154 383 Official creditors 0 64 79 168 168 153 154 383 Multilateral 0 61 78 119 130 79 78 145 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 25 37 48 36 19 18 20 Bilateral 0 4 1 49 38 74 76 238 Private creditors 0 16 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 0 5 7 5 8 15 13 19 Public and publicly guaranteed 0 5 7 5 8 15 13 19 Official creditors 0 2 7 5 8 15 13 19 Multilateral 0 0 0 3 5 9 11 17 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 0 1 2 4 5 6 Bilateral 0 2 7 2 2 6 2 2 Private creditors 0 3 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 29 1 12 11 12 13 15 21 Public and publicly guaranteed 29 1 12 11 12 13 15 21 Official creditors 29 1 12 11 12 13 15 21 Multilateral 0 1 3 9 10 10 11 13 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 1 4 4 4 4 4 Bilateral 29 0 9 2 3 3 4 8 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 0 375 111 246 76 11 234 454 Net flows on external debt 15 100 128 172 154 138 165 430 Cross-currency valuation 0 0 -28 49 -111 52 72 -78 9. Debt restructurings Total amount rescheduled 0 224 0 0 0 0 1 0 Total amount forgiven 0 13 0 0 0 22 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 53 57 68 75 88 114 122 127 Interest 34 36 37 37 36 36 34 33 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Cambodia was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 83 CAMEROON 1. Summary external debt data External debt stocks 6,555 10,942 10,316 10,290 7,260 3,229 2,946 2,794 Long-term external debt 5,498 9,900 8,857 9,409 6,654 2,718 2,730 2,765 Public and publicly guaranteed 5,268 9,612 8,540 8,776 6,061 2,229 2,094 2,129 Private nonguaranteed 230 288 317 632 592 489 636 636 Use of IMF credit 121 51 235 333 272 8 17 24 Short-term external debt 936 991 1,224 548 334 502 200 5 interest arrears on long-term 168 349 205 155 280 434 1 5 Memorandum items 309 474 322 80 51 91 1 19 5,145 9,535 8,493 8,776 6,061 2,229 2,094 2,129 353 365 364 632 592 489 636 636 479 197 100 208 47 41 449 147 External debt flows Disbursements 704 174 354 274 231 162 270 288 Long-term external debt 704 161 286 274 227 158 262 279 IMF purchases 0 13 69 0 4 4 8 8 Principal repayments 269 217 270 362 577 379 371 258 Long-term external debt 268 211 253 339 538 358 371 258 IMF repurchases 1 6 17 23 39 21 0 0 Net flows 672 117 -21 20 -684 -203 30 -170 Long-term external debt 436 -50 33 -65 -311 -199 -109 21 Short-term external debt 237 160 -105 109 -339 14 131 -199 Interest payments 247 214 288 246 245 140 143 119 Long-term external debt 194 173 215 232 231 136 135 115 IMF charges 11 2 2 2 1 0 0 0 Short-term external debt 42 38 72 12 12 4 8 5 2. Other non-debt resource flows Foreign direct investment (net) -113 7 159 86 234 16 284 38 Portfolio equity flows 0 0 0 -8 -4 -6 -14 -1 Profit remittances on FDI 138 21 41 186 289 10 385 172 Grants (excluding technical coop.) 313 205 169 618 335 3,015 1,794 858 of which: Debt forgiveness grants .. .. 90 428 208 2,722 1,365 497 IDA grants .. .. .. 0 0 29 12 1 Memo: technical coop. grants 126 124 93 151 149 179 196 159 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 71.7 66.1 77.3 73.1 67.5 Japanese yen 0.3 0.3 0.5 1.1 1.3 0.0 0.0 0.0 Pound sterling 2.4 1.2 2.0 1.7 1.7 0.0 0.0 0.0 Swiss franc 1.2 1.1 0.7 0.8 0.7 0.4 0.3 0.3 U.S.dollars 11.2 9.6 24.4 17.0 20.9 10.6 12.7 13.7 4. Average terms of new commitments Official creditors Interest (%) 6.6 2.6 0.9 1.5 0.4 1.4 0.9 0.7 Maturity (years) 15.3 23.3 38.6 33.0 30.7 24.3 37.2 37.0 Grace period (years) 5.3 7.7 9.5 7.9 9.2 5.6 8.6 9.3 Private creditors Interest (%) 7.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 13.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 10,674 8,205 9,464 15,374 16,126 17,706 20,612 23,072 Exports of goods, services & income 2,535 2,062 2,614 4,040 4,064 4,685 5,164 .. Worker remit. & comp. of employees 23 11 11 103 77 130 167 167 Imports of goods & services 3,041 2,032 2,960 4,725 5,010 5,031 5,974 .. International reserves 37 15 220 842 965 1,735 2,932 3,112 Current account balance -551 90 -249 -626 -777 -151 -547 .. 6. Ratios External debt stocks to exports (%) 258.6 530.7 394.6 254.7 178.6 68.9 57.0 .. External debt stocks to GNI (%) 61.4 133.3 109.0 66.9 45.0 18.2 14.3 12.1 Debt service to exports (%) 20.4 20.9 21.4 15.0 20.2 11.1 10.0 .. Short-term to external debt stocks (%) 14.3 9.1 11.9 5.3 4.6 15.6 6.8 0.2 Multilateral to external debt stocks (%) 20.1 15.3 13.7 16.8 21.7 15.6 18.8 21.8 Reserves to external debt stocks (%) 0.6 0.1 2.1 8.2 13.3 53.7 99.5 111.4 Reserves to imports (months) 0.1 0.1 0.9 2.1 2.3 4.1 5.9 .. 84 CAMEROON 7. Long-term external debt Debt outstanding and disbursed 5,498 9,900 8,857 9,409 6,654 2,718 2,730 2,765 Public and publicly guaranteed 5,268 9,612 8,540 8,776 6,061 2,229 2,094 2,129 Official creditors 3,801 8,726 8,219 8,684 5,975 2,165 2,091 2,127 Multilateral 1,318 1,679 1,414 1,732 1,578 502 553 609 of which: IBRD 651 639 218 117 84 46 40 35 IDA 238 443 769 1,083 1,032 170 198 225 Bilateral 2,483 7,047 6,805 6,952 4,397 1,662 1,538 1,518 Private creditors 1,467 885 320 92 87 65 2 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 390 300 175 48 43 46 2 2 Private nonguaranteed 230 288 317 632 592 489 636 636 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 704 161 286 274 227 158 262 279 Public and publicly guaranteed 651 161 247 200 130 119 180 192 Official creditors 546 161 247 200 130 118 180 192 Multilateral 200 81 115 177 68 84 83 106 of which: IBRD 75 6 0 5 0 0 0 0 IDA 0 35 55 107 31 29 20 29 Bilateral 347 80 133 23 62 34 97 86 Private creditors 105 0 0 0 0 1 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 10 0 0 0 0 1 0 0 Private nonguaranteed 53 0 39 74 98 39 82 87 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 268 211 253 339 538 358 371 258 Public and publicly guaranteed 138 183 166 290 397 197 188 66 Official creditors 96 146 162 290 397 197 169 66 Multilateral 68 130 97 87 92 88 40 40 of which: IBRD 42 91 53 34 32 39 5 5 IDA 3 4 7 10 12 8 0 1 Bilateral 28 16 66 203 304 108 129 26 Private creditors 41 36 4 0 0 0 19 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 28 25 4 0 0 0 16 0 Private nonguaranteed 130 28 86 49 141 161 183 192 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 194 173 215 232 231 136 135 115 Public and publicly guaranteed 177 163 198 184 181 79 93 70 Official creditors 122 152 198 184 180 79 70 70 Multilateral 73 80 48 33 27 20 16 14 of which: IBRD 49 56 22 7 5 4 2 2 IDA 2 3 5 9 8 5 2 2 Bilateral 49 72 149 151 153 59 54 56 Private creditors 55 10 1 0 1 0 23 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 39 5 1 0 0 0 23 0 Private nonguaranteed 17 11 17 48 51 57 42 44 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,198 1,687 -238 -592 -3,031 -4,031 -282 -152 Net flows on external debt 672 117 -21 20 -684 -203 30 -170 Cross-currency valuation 326 363 -500 583 -999 -631 231 -57 9. Debt restructurings Total amount rescheduled 75 1,070 206 54 68 20 1 0 Total amount forgiven 10 0 6 271 164 4,037 144 16 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 228 180 174 134 132 129 129 111 Interest 62 55 50 46 43 40 37 34 Private creditors Principal 113 113 90 81 71 43 39 35 Interest 33 40 33 26 21 17 14 11 Notes: Cameroon was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. Data on public and publicly guaranteed debt include World Bank staff estimates of the effects of the Paris Club debt restructuring agreements signed in 2006. Historical data on public and publicly guaranteed debt have been revised based on reports provided by the country. 85 CAPE VERDE 1. Summary external debt data External debt stocks 133.8 213.8 316.5 461.6 475.2 522.1 578.7 624.6 Long-term external debt 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 Public and publicly guaranteed 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 9.6 12.3 13.0 13.5 12.4 Short-term external debt 4.7 29.2 3.9 1.0 0.9 0.7 1.3 1.4 interest arrears on long-term 2.3 4.6 3.9 1.0 0.9 0.7 1.3 1.4 Memorandum items 11.1 19.6 32.2 2.6 3.2 2.4 2.4 2.4 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35.9 11.5 23.4 36.0 88.8 27.4 209.9 211.1 External debt flows Disbursements 12.1 21.4 28.8 29.7 77.9 48.9 51.1 74.8 Long-term external debt 12.1 21.4 28.8 27.9 74.3 48.9 51.1 74.8 IMF purchases 0.0 0.0 0.0 1.8 3.7 0.0 0.0 0.0 Principal repayments 3.7 5.6 11.1 17.8 28.6 25.0 22.7 24.5 Long-term external debt 3.7 5.6 11.1 17.8 28.6 25.0 22.5 23.7 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.8 Net flows 10.7 34.4 2.0 11.9 49.3 23.9 28.4 50.4 Long-term external debt 8.3 15.8 17.7 10.1 45.7 23.9 28.6 51.1 Short-term external debt 2.4 18.7 -15.7 0.0 0.0 0.0 0.0 0.0 Interest payments 2.0 4.1 4.7 5.9 6.8 6.3 6.4 6.6 Long-term external debt 1.9 3.4 4.7 5.9 6.8 6.2 6.4 6.5 IMF charges 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 Short-term external debt 0.1 0.8 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 0.3 26.2 33.4 67.6 80.4 131.8 191.9 211.3 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.3 2.2 0.0 Profit remittances on FDI 0.0 0.5 5.1 3.8 10.9 24.1 28.2 38.2 Grants (excluding technical coop.) 77.5 61.4 43.4 70.8 74.3 58.6 79.9 113.5 of which: Debt forgiveness grants .. .. 0.3 0.4 0.1 0.1 0.1 0.1 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 18.0 40.4 29.5 42.7 43.0 43.1 46.1 54.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 12.7 13.4 15.0 16.1 18.2 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 38.5 35.3 55.8 57.4 54.1 53.3 49.6 48.5 4. Average terms of new commitments Official creditors Interest (%) 1.5 0.8 1.4 2.7 3.5 2.9 1.3 2.4 Maturity (years) 42.6 39.8 35.1 26.9 32.5 38.1 25.7 27.0 Grace period (years) 9.1 10.3 8.9 6.0 8.4 9.0 8.2 6.8 Private creditors Interest (%) 0.0 0.0 5.7 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 10.6 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 2.2 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 340.5 485.3 520.0 907.0 972.7 1156.7 1420.1 1702.7 Exports of goods, services & income 119.3 191.4 236.6 427.0 514.0 632.9 737.8 898.8 Worker remit. & comp. of employees 59.0 106.0 87.0 113.4 136.6 136.6 138.9 155.1 Imports of goods & services 153.1 300.7 343.6 678.3 699.0 868.8 1099.0 1265.2 International reserves 77.0 36.9 28.3 139.5 174.0 254.5 281.2 258.5 Current account balance -3.8 -61.6 -58.0 -130.0 -40.7 -82.7 -198.3 -205.5 6. Ratios External debt stocks to exports (%) 112.1 111.7 133.8 108.1 92.5 82.5 78.4 69.5 External debt stocks to GNI (%) 39.3 44.1 60.9 50.9 48.9 45.1 40.8 36.7 Debt service to exports (%) 4.8 5.1 6.7 5.6 6.9 4.9 4.0 3.5 Short-term to external debt stocks (%) 3.5 13.7 1.2 0.2 0.2 0.1 0.2 0.2 Multilateral to external debt stocks (%) 65.0 67.3 72.4 79.2 78.8 78.9 78.6 77.3 Reserves to external debt stocks (%) 57.5 17.3 8.9 30.2 36.6 48.7 48.6 41.4 Reserves to imports (months) 6.0 1.5 1.0 2.5 3.0 3.5 3.1 2.5 86 CAPE VERDE 7. Long-term external debt Debt outstanding and disbursed 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 Public and publicly guaranteed 129.1 184.6 312.6 451.0 461.9 508.4 564.0 610.8 Official creditors 126.6 178.2 305.2 430.7 440.3 491.1 549.2 600.9 Multilateral 87.0 143.9 229.2 365.7 374.7 411.8 454.8 482.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 13.6 33.0 97.9 194.6 205.1 235.9 267.4 283.8 Bilateral 39.6 34.2 75.9 65.0 65.6 79.3 94.3 117.9 Private creditors 2.5 6.4 7.5 20.3 21.6 17.3 14.8 9.9 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 2.6 1.8 1.5 1.0 0.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 12.1 21.4 28.8 27.9 74.3 48.9 51.1 74.8 Public and publicly guaranteed 12.1 21.4 28.8 27.9 74.3 48.9 51.1 74.8 Official creditors 12.1 17.1 28.8 27.7 64.9 48.8 51.1 74.8 Multilateral 6.0 14.9 23.5 26.9 48.8 30.0 34.5 36.6 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.0 6.0 10.4 13.8 27.2 22.1 22.7 20.8 Bilateral 6.1 2.2 5.3 0.9 16.1 18.7 16.6 38.2 Private creditors 0.0 4.2 0.0 0.1 9.4 0.1 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.1 0.9 0.1 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 3.7 5.6 11.1 17.8 28.6 25.0 22.5 23.7 Public and publicly guaranteed 3.7 5.6 11.1 17.8 28.6 25.0 22.5 23.7 Official creditors 3.6 5.6 9.3 15.7 23.2 18.5 18.3 19.3 Multilateral 2.5 4.8 6.1 7.4 12.2 8.6 9.3 10.4 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.3 1.1 1.4 1.5 1.8 2.6 Bilateral 1.1 0.8 3.2 8.3 11.0 9.9 9.0 9.0 Private creditors 0.1 0.0 1.8 2.0 5.4 6.5 4.2 4.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.6 1.4 0.6 0.6 0.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.9 3.4 4.7 5.9 6.8 6.2 6.4 6.5 Public and publicly guaranteed 1.9 3.4 4.7 5.9 6.8 6.2 6.4 6.5 Official creditors 1.9 3.4 3.8 5.5 5.7 5.7 6.1 6.3 Multilateral 1.2 3.3 2.7 3.8 4.2 4.1 4.3 4.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.2 0.7 1.5 1.6 1.7 1.8 2.1 Bilateral 0.7 0.1 1.1 1.7 1.6 1.6 1.8 1.6 Private creditors 0.0 0.0 0.9 0.4 1.0 0.5 0.3 0.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.1 0.5 0.1 0.1 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 7.7 37.9 -8.7 23.0 13.6 46.9 56.6 45.8 Net flows on external debt 10.7 34.4 2.0 11.9 49.3 23.9 28.4 50.4 Cross-currency valuation 2.9 1.3 -7.0 12.4 -24.5 16.3 20.6 0.8 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 9.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 23.2 23.0 23.5 21.9 32.1 33.1 34.2 33.7 Interest 9.8 11.3 12.0 12.3 12.2 11.9 11.4 10.9 Private creditors Principal 4.9 4.9 3.0 0.5 0.0 0.0 0.0 0.0 Interest 0.4 0.3 0.1 0.0 0.0 0.0 0.0 0.0 87 CENTRAL AFRICAN REPUBLIC 1. Summary external debt data External debt stocks 698.5 946.0 857.8 1065.1 1001.9 992.1 946.1 949.4 Long-term external debt 624.1 853.9 795.7 921.8 864.4 855.4 835.9 815.2 Public and publicly guaranteed 624.1 853.9 795.7 921.8 864.4 855.4 835.9 815.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 36.7 34.9 21.5 44.1 35.9 42.1 49.4 63.0 Short-term external debt 37.7 57.1 40.6 99.2 101.6 94.7 60.9 71.2 interest arrears on long-term 15.0 35.7 25.5 90.2 92.6 85.7 60.9 60.2 Memorandum items 23.2 74.2 96.1 197.5 214.1 205.6 157.7 156.2 624.1 853.7 794.7 920.2 863.1 853.9 834.3 813.6 0.0 0.3 1.0 1.5 1.3 1.5 1.6 1.5 174.9 16.6 28.0 0.0 0.0 0.0 0.0 0.0 External debt flows Disbursements 121.1 32.6 16.1 8.3 0.0 10.2 34.9 24.9 Long-term external debt 112.8 32.6 16.1 0.0 0.0 0.0 3.2 1.9 IMF purchases 8.3 0.0 0.0 8.3 0.0 10.2 31.7 23.0 Principal repayments 17.4 10.0 8.3 11.5 5.3 52.7 70.2 28.3 Long-term external debt 7.6 2.6 7.5 9.1 0.4 46.7 43.5 20.5 IMF repurchases 9.8 7.4 0.8 2.4 4.9 6.0 26.7 7.7 Net flows 106.6 25.1 -13.8 -5.9 -5.3 -42.5 -44.4 7.7 Long-term external debt 105.2 30.0 8.6 -9.1 -0.4 -46.7 -40.4 -18.6 Short-term external debt 2.9 2.4 -21.6 -2.7 0.0 0.0 -9.0 11.0 Interest payments 11.8 5.7 5.9 2.9 0.9 17.7 20.3 6.6 Long-term external debt 9.0 3.5 4.3 2.4 0.1 16.5 19.6 6.2 IMF charges 1.2 1.0 0.1 0.2 0.4 0.9 0.4 0.3 Short-term external debt 1.6 1.2 1.4 0.3 0.3 0.3 0.2 0.2 2. Other non-debt resource flows Foreign direct investment (net) 0.7 6.2 0.9 15.1 17.1 18.1 57.0 121.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 2.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 86.2 109.6 55.8 86.0 62.8 157.7 147.6 237.7 of which: Debt forgiveness grants .. .. 13.5 7.8 7.1 7.1 10.9 41.8 IDA grants .. .. .. 0.0 0.0 80.3 4.1 12.8 Memo: technical coop. grants 56.2 46.8 21.6 32.3 36.4 34.7 37.7 22.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.2 6.0 6.4 3.8 3.4 Japanese yen 0.7 0.7 0.7 0.6 0.6 0.6 0.3 0.4 Pound sterling 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 2.6 2.8 2.2 2.8 2.6 2.8 2.2 2.3 U.S.dollars 43.6 56.2 61.2 58.5 59.0 56.9 61.3 61.7 4. Average terms of new commitments Official creditors Interest (%) 1.0 0.8 0.8 0.0 0.0 0.0 0.0 0.0 Maturity (years) 37.6 39.7 39.8 0.0 0.0 0.0 0.0 0.0 Grace period (years) 10.2 10.2 10.3 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1465.1 1100.9 946.8 1268.0 1348.0 1472.9 1702.0 1947.9 Exports of goods, services & income 220.4 .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services 432.5 .. .. .. .. .. .. .. International reserves 122.9 237.9 136.3 153.2 144.9 132.4 91.9 131.5 Current account balance -89.1 .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 317.0 .. .. .. .. .. .. .. External debt stocks to GNI (%) 47.7 85.9 90.6 84.0 74.3 67.4 55.6 48.7 Debt service to exports (%) 13.2 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 5.4 6.0 4.7 9.3 10.1 9.5 6.4 7.5 Multilateral to external debt stocks (%) 65.2 67.3 68.0 63.6 62.0 61.0 63.0 60.9 Reserves to external debt stocks (%) 17.6 25.2 15.9 14.4 14.5 13.3 9.7 13.8 Reserves to imports (months) 3.4 .. .. .. .. .. .. .. 88 CENTRAL AFRICAN REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 624.1 853.9 795.7 921.8 864.4 855.4 835.9 815.2 Public and publicly guaranteed 624.1 853.9 795.7 921.8 864.4 855.4 835.9 815.2 Official creditors 602.6 835.6 763.2 891.2 834.2 824.9 805.1 784.6 Multilateral 455.5 636.2 583.1 677.8 620.8 605.0 595.7 577.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 265.1 414.0 391.3 454.6 422.7 395.1 402.8 389.9 Bilateral 147.0 199.4 180.1 213.4 213.4 220.0 209.5 206.8 Private creditors 21.6 18.4 32.6 30.5 30.2 30.4 30.8 30.6 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 112.8 32.6 16.1 0.0 0.0 0.0 3.2 1.9 Public and publicly guaranteed 112.8 32.6 16.1 0.0 0.0 0.0 3.2 1.9 Official creditors 112.8 32.6 16.1 0.0 0.0 0.0 3.2 1.9 Multilateral 95.2 32.6 16.1 0.0 0.0 0.0 3.2 1.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 70.4 29.8 12.9 0.0 0.0 0.0 3.2 1.9 Bilateral 17.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 7.6 2.6 7.5 9.1 0.4 46.7 43.5 20.5 Public and publicly guaranteed 7.6 2.6 7.5 9.1 0.4 46.7 43.5 20.5 Official creditors 7.0 2.6 7.4 5.2 0.4 46.7 43.5 20.5 Multilateral 3.2 2.6 6.9 0.6 0.4 46.7 43.5 18.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.5 1.3 5.7 0.0 0.0 46.7 11.1 12.4 Bilateral 3.8 0.0 0.5 4.5 0.0 0.0 0.0 2.3 Private creditors 0.6 0.0 0.0 3.9 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 9.0 3.5 4.3 2.4 0.1 16.5 19.6 6.2 Public and publicly guaranteed 9.0 3.5 4.3 2.4 0.1 16.5 19.6 6.2 Official creditors 8.1 3.5 4.3 2.3 0.1 16.5 19.6 6.2 Multilateral 5.1 3.5 3.4 0.2 0.1 16.5 19.6 4.5 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 1.5 2.9 3.2 0.0 0.0 16.5 3.4 3.1 Bilateral 3.1 0.0 0.9 2.1 0.0 0.0 0.0 1.7 Private creditors 0.8 0.0 0.0 0.1 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 5.0 57.9 -51.4 22.7 -63.1 -9.8 -46.0 3.3 Net flows on external debt 106.6 25.1 -13.8 -5.9 -5.3 -42.5 -44.4 7.7 Cross-currency valuation 38.2 -35.4 -33.6 33.5 -58.4 32.2 36.0 1.5 9. Debt restructurings Total amount rescheduled 4.4 7.6 2.9 0.0 0.0 0.0 20.8 3.2 Total amount forgiven 157.5 1.3 0.7 0.0 0.0 0.0 8.2 14.1 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 22.9 24.4 27.9 27.9 28.5 28.9 28.9 29.5 Interest 6.6 7.1 6.8 6.4 6.2 5.9 5.6 5.3 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. Data include the effects of Paris Club debt restructuring agreement signed in April 2007. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $1,510 in thousands and $9,416 in thousands respectively. 89 CHAD 1. Summary external debt data External debt stocks 514 843 1,091 1,641 1,585 1,707 1,797 1,749 Long-term external debt 454 777 988 1,528 1,495 1,628 1,712 1,705 Public and publicly guaranteed 454 777 988 1,528 1,495 1,628 1,712 1,705 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 30 49 78 96 79 68 56 41 Short-term external debt 30 17 25 17 11 12 29 4 interest arrears on long-term 6 9 10 9 6 8 6 4 Memorandum items 16 36 52 27 26 24 22 26 454 777 988 1,528 1,495 1,628 1,712 1,705 0 0 0 0 0 0 0 0 83 116 178 28 134 7 141 11 External debt flows Disbursements 103 73 59 113 116 102 50 97 Long-term external debt 94 61 46 113 110 102 50 97 IMF purchases 8 13 14 0 6 0 0 0 Principal repayments 7 10 14 27 38 46 52 119 Long-term external debt 3 3 13 15 24 30 37 105 IMF repurchases 4 7 1 13 13 16 15 14 Net flows 98 63 44 85 75 55 17 -45 Long-term external debt 91 57 33 99 85 71 13 -8 Short-term external debt 2 0 -2 -1 -3 -1 19 -23 Interest payments 5 5 10 12 17 17 20 19 Long-term external debt 3 4 9 10 16 17 19 18 IMF charges 0 1 0 1 0 0 0 0 Short-term external debt 2 1 1 0 0 0 1 0 2. Other non-debt resource flows Foreign direct investment (net) 9 33 115 495 613 700 718 834 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 147 121 61 229 262 205 318 442 of which: Debt forgiveness grants .. .. 7 16 15 7 17 7 IDA grants .. .. .. 1 7 5 10 8 Memo: technical coop. grants 58 63 31 41 44 43 38 42 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.9 3.3 3.9 3.6 3.3 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 49.6 54.8 58.7 64.7 66.1 65.0 64.4 60.2 4. Average terms of new commitments Official creditors Interest (%) 1.8 1.0 0.7 1.0 1.6 0.0 1.3 0.0 Maturity (years) 31.0 38.0 40.5 37.8 23.8 28.6 19.9 24.0 Grace period (years) 9.1 8.7 10.1 9.7 6.6 9.1 6.9 6.5 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,721 1,441 1,368 3,720 4,847 5,146 5,808 6,693 Exports of goods, services & income 274 .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services 511 .. .. .. .. .. .. .. International reserves 132 147 114 227 231 632 964 1,355 Current account balance -46 .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 187.5 .. .. .. .. .. .. .. External debt stocks to GNI (%) 29.9 58.5 79.8 44.1 32.7 33.2 30.9 26.1 Debt service to exports (%) 4.3 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 5.8 2.0 2.3 1.0 0.7 0.7 1.6 0.2 Multilateral to external debt stocks (%) 65.5 76.5 76.5 82.9 84.5 84.9 85.0 84.0 Reserves to external debt stocks (%) 25.7 17.4 10.4 13.8 14.6 37.0 53.7 77.5 Reserves to imports (months) 3.1 .. .. .. .. .. .. .. 90 CHAD 7. Long-term external debt Debt outstanding and disbursed 454 777 988 1,528 1,495 1,628 1,712 1,705 Public and publicly guaranteed 454 777 988 1,528 1,495 1,628 1,712 1,705 Official creditors 446 775 973 1,494 1,463 1,594 1,679 1,672 Multilateral 337 645 834 1,361 1,340 1,450 1,527 1,469 of which: IBRD 0 0 0 37 35 30 26 0 IDA 186 379 515 874 864 925 968 905 Bilateral 109 131 139 134 123 145 152 202 Private creditors 8 2 15 33 32 33 33 33 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 94 61 46 113 110 102 50 97 Public and publicly guaranteed 94 61 46 113 110 102 50 97 Official creditors 94 61 46 113 110 102 50 97 Multilateral 72 61 36 110 108 71 39 38 of which: IBRD 0 0 0 6 1 0 0 0 IDA 48 42 18 74 64 31 16 5 Bilateral 22 0 10 3 2 31 12 59 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 3 3 13 15 24 30 37 105 Public and publicly guaranteed 3 3 13 15 24 30 37 105 Official creditors 3 3 13 15 23 30 37 105 Multilateral 3 3 10 11 17 24 31 100 of which: IBRD 0 0 0 0 2 5 5 26 IDA 1 1 4 4 4 11 11 62 Bilateral 0 1 3 4 5 6 5 6 Private creditors 1 0 1 0 1 1 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 3 4 9 10 16 17 19 18 Public and publicly guaranteed 3 4 9 10 16 17 19 18 Official creditors 3 4 9 10 16 17 19 18 Multilateral 2 3 6 9 14 13 15 15 of which: IBRD 0 0 0 1 1 2 2 1 IDA 1 3 3 7 6 7 7 8 Bilateral 1 0 3 1 2 3 3 4 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 116 59 -8 112 -56 122 90 -48 Net flows on external debt 98 63 44 85 75 55 17 -45 Cross-currency valuation 8 -39 -63 18 -120 29 39 12 9. Debt restructurings Total amount rescheduled 8 46 0 0 12 0 0 0 Total amount forgiven 12 62 0 9 16 15 5 4 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 53 58 61 66 70 77 83 79 Interest 20 19 19 18 17 16 15 14 Private creditors Principal 4 4 2 2 2 2 2 1 Interest 0 0 0 0 0 0 0 0 Notes: Data for 2007 include the effects of Enhanced HIPC Initiative, in the amount of $3,612 in thousands. 91 CHILE 1. Summary external debt data External debt stocks 19,226 22,038 37,261 43,774 45,446 48,052 56,542 64,277 Long-term external debt 14,687 18,607 31,089 36,322 38,357 38,734 45,486 49,367 Public and publicly guaranteed 10,425 7,178 5,228 9,397 9,173 9,390 9,350 8,818 Private nonguaranteed 4,263 11,429 25,861 26,925 29,184 29,344 36,136 40,549 Use of IMF credit 1,156 0 0 0 0 0 0 0 Short-term external debt 3,382 3,431 6,172 7,452 7,089 9,318 11,056 14,910 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 10,421 7,178 5,148 9,393 9,170 9,377 9,313 8,772 4,267 11,429 25,941 26,929 29,188 29,357 36,172 40,595 1,049 314 324 2,372 995 1,423 945 1,033 External debt flows Disbursements 2,253 3,821 4,966 8,388 9,156 12,620 13,201 16,564 Long-term external debt 2,253 3,821 4,966 8,388 9,156 12,620 13,201 16,564 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 980 3,671 3,938 8,134 6,075 12,553 9,226 13,164 Long-term external debt 771 3,369 3,938 8,134 6,075 12,553 9,226 13,164 IMF repurchases 208 303 0 0 0 0 0 0 Net flows 1,682 -284 2,883 690 2,718 2,296 5,713 7,253 Long-term external debt 1,481 452 1,028 254 3,081 67 3,975 3,399 Short-term external debt 409 -434 1,855 436 -363 2,229 1,738 3,854 Interest payments 1,792 1,293 2,235 1,428 1,510 1,993 2,276 2,023 Long-term external debt 1,364 1,114 2,081 1,274 1,290 1,655 1,723 1,634 IMF charges 118 13 0 0 0 0 0 0 Short-term external debt 310 165 154 154 221 338 553 389 2. Other non-debt resource flows Foreign direct investment (net) 661 2,957 4,860 7,173 6,984 7,298 12,577 16,787 Portfolio equity flows 367 -249 -427 8 1,571 -124 388 1,823 Profit remittances on FDI 387 2,178 2,539 8,231 11,416 19,913 22,832 18,544 Grants (excluding technical coop.) 73 54 18 41 90 30 34 25 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 66 97 56 67 60 52 49 65 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.4 1.0 1.1 1.2 1.1 Japanese yen 8.2 9.5 5.0 0.6 0.4 2.5 2.2 0.0 Pound sterling 3.4 2.9 0.2 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.6 0.9 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 40.2 42.0 84.2 93.1 98.0 95.8 96.0 98.3 4. Average terms of new commitments Official creditors Interest (%) 7.7 6.1 1.0 1.8 4.2 5.2 5.4 3.4 Maturity (years) 18.8 19.5 17.0 8.3 13.1 13.1 16.2 6.2 Grace period (years) 4.3 5.8 1.5 4.5 4.7 6.0 4.9 4.0 Private creditors Interest (%) 9.3 6.8 7.0 2.9 5.1 5.8 5.6 5.1 Maturity (years) 7.6 10.9 6.3 6.6 19.2 15.7 6.4 6.3 Grace period (years) 2.3 3.0 3.0 5.6 18.2 13.0 5.0 2.2 5. Major economic aggregates Gross national income (GNI) 29,800 68,637 72,333 87,815 107,790 128,360 145,270 155,480 Exports of goods, services & income 10,705 20,226 24,891 40,537 50,853 69,885 82,953 83,396 Worker remit. & comp. of employees 1 .. 13 12 13 3 3 3 Imports of goods & services 11,387 21,883 26,346 39,535 51,187 66,137 78,888 89,760 International reserves 6,784 14,860 15,055 15,997 16,933 19,397 16,843 23,079 Current account balance -485 -1,350 -898 2,074 1,449 7,154 7,189 -3,440 6. Ratios External debt stocks to exports (%) 179.6 109.0 149.7 108.0 89.4 68.8 68.2 77.1 External debt stocks to GNI (%) 64.5 32.1 51.5 49.8 42.2 37.4 38.9 41.3 Debt service to exports (%) 25.9 24.5 24.8 23.6 14.9 20.8 13.9 18.2 Short-term to external debt stocks (%) 17.6 15.6 16.6 17.0 15.6 19.4 19.6 23.2 Multilateral to external debt stocks (%) 21.5 13.0 3.8 2.3 1.8 1.9 1.6 1.3 Reserves to external debt stocks (%) 35.3 67.4 40.4 36.5 37.3 40.4 29.8 35.9 Reserves to imports (months) 7.1 8.1 6.9 4.9 4.0 3.5 2.6 3.1 92 CHILE 7. Long-term external debt Debt outstanding and disbursed 14,687 18,607 31,089 36,322 38,357 38,734 45,486 49,367 Public and publicly guaranteed 10,425 7,178 5,228 9,397 9,173 9,390 9,350 8,818 Official creditors 5,182 3,582 1,887 1,306 1,089 1,151 1,161 1,192 Multilateral 4,143 2,871 1,406 1,015 827 897 932 831 of which: IBRD 1,860 1,372 808 441 289 346 354 200 IDA 14 11 7 4 4 3 2 2 Bilateral 1,039 711 481 291 262 254 229 361 Private creditors 5,242 3,596 3,341 8,091 8,084 8,239 8,189 7,626 of which: Bonds 39 0 0 5,362 5,406 5,938 5,401 4,513 Commercial banks 4,747 3,509 3,273 2,704 2,678 2,301 2,788 3,113 Private nonguaranteed 4,263 11,429 25,861 26,925 29,184 29,344 36,136 40,549 of which: Bonds 0 866 6,339 4,951 4,761 4,779 6,385 5,585 Disbursements 2,253 3,821 4,966 8,388 9,156 12,620 13,201 16,564 Public and publicly guaranteed 708 342 369 2,561 1,197 1,186 714 1,043 Official creditors 650 194 147 378 176 112 89 295 Multilateral 583 146 113 371 162 92 72 139 of which: IBRD 251 83 48 259 55 62 14 53 IDA 0 0 0 0 0 0 0 0 Bilateral 67 48 34 7 14 20 16 156 Private creditors 58 148 221 2,184 1,022 1,074 626 749 of which: Bonds 0 0 0 1,250 500 650 0 0 Commercial banks 37 141 221 934 522 424 626 749 Private nonguaranteed 1,545 3,479 4,597 5,827 7,959 11,434 12,487 15,520 of which: Bonds 0 500 672 1,125 700 813 250 100 Principal repayments 771 3,369 3,938 8,134 6,075 12,553 9,226 13,164 Public and publicly guaranteed 500 2,277 757 1,215 1,364 976 742 1,594 Official creditors 356 2,003 277 483 371 61 58 261 Multilateral 263 1,884 177 406 345 23 40 243 of which: IBRD 119 704 115 240 206 5 6 207 IDA 1 1 1 1 1 1 1 1 Bilateral 93 119 100 77 26 38 18 17 Private creditors 144 273 480 732 993 914 684 1,333 of which: Bonds 7 0 0 171 422 118 537 888 Commercial banks 32 240 479 560 546 797 147 446 Private nonguaranteed 271 1,092 3,181 6,919 4,711 11,578 8,484 11,570 of which: Bonds 0 11 0 752 195 765 575 900 Interest payments 1,364 1,114 2,081 1,274 1,290 1,655 1,723 1,634 Public and publicly guaranteed 1,112 653 377 399 460 495 530 531 Official creditors 384 387 138 50 49 49 56 48 Multilateral 313 348 112 44 43 43 50 43 of which: IBRD 130 137 70 18 16 17 20 13 IDA 0 0 0 0 0 0 0 0 Bilateral 71 39 26 7 6 6 5 5 Private creditors 729 266 239 349 411 446 475 483 of which: Bonds 2 0 0 265 299 313 336 249 Commercial banks 688 258 234 84 112 134 138 234 Private nonguaranteed 252 461 1,704 875 829 1,160 1,193 1,103 of which: Bonds 0 26 440 349 347 359 471 412 8. Debt stock-flow reconciliation Total change in external debt stocks 1,193 -117 2,467 984 1,672 2,606 8,490 7,735 Net flows on external debt 1,682 -284 2,883 690 2,718 2,296 5,713 7,253 Cross-currency valuation 508 14 -58 7 65 123 9 62 9. Debt restructurings Total amount rescheduled 4,172 0 0 0 0 0 0 0 Total amount forgiven 1,100 145 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 104 313 125 80 105 153 151 151 Interest 42 42 38 36 35 32 29 25 Private creditors Principal 11,675 5,790 4,462 5,565 5,606 2,816 1,646 1,842 Interest 1,545 1,460 1,322 1,049 814 549 1,008 499 Notes: Short-term debt is based on reports provided by the country. 93 CHINA 1. Summary external debt data External debt stocks 55,301 118,090 145,711 247,679 283,986 325,260 373,773 378,245 Long-term external debt 45,515 95,764 132,631 131,909 135,719 151,883 170,075 191,057 Public and publicly guaranteed 45,515 94,674 94,842 89,751 85,227 88,217 87,791 89,283 Private nonguaranteed 0 1,090 37,789 42,158 50,492 63,666 82,284 101,774 Use of IMF credit 469 0 0 0 0 0 0 0 Short-term external debt 9,317 22,325 13,080 115,770 148,267 173,377 203,698 187,188 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items 0 0 0 0 0 0 0 0 45,449 93,573 94,842 89,751 84,968 87,972 87,619 89,125 66 2,192 37,789 42,158 50,751 63,910 82,456 101,932 9,988 22,812 10,702 6,849 10,233 6,275 6,927 6,010 External debt flows Disbursements 9,665 21,985 16,776 24,181 29,228 26,524 36,339 38,188 Long-term external debt 9,665 21,985 16,776 24,181 29,228 26,524 36,339 38,188 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 3,809 9,070 19,924 16,289 20,846 18,120 20,780 25,143 Long-term external debt 3,319 9,070 19,924 16,289 20,846 18,120 20,780 25,143 IMF repurchases 490 0 0 0 0 0 0 0 Net flows 8,267 17,758 -5,247 35,569 40,878 33,514 45,880 -3,464 Long-term external debt 6,346 12,915 -3,147 7,892 8,381 8,404 15,559 13,046 Short-term external debt 2,410 4,842 -2,100 27,677 32,497 25,110 30,321 -16,510 Interest payments 3,248 5,996 7,165 6,965 6,519 9,359 11,395 9,246 Long-term external debt 2,534 4,657 5,998 4,003 3,218 3,818 5,454 4,760 IMF charges 65 0 0 0 0 0 0 0 Short-term external debt 649 1,340 1,168 2,963 3,302 5,541 5,942 4,486 2. Other non-debt resource flows Foreign direct investment (net) 3,487 35,849 38,399 54,936 79,127 78,095 138,413 147,791 Portfolio equity flows 0 0 6,912 10,923 20,346 42,861 18,510 8,721 Profit remittances on FDI 46 9,953 20,198 17,415 21,040 29,236 43,711 48,866 Grants (excluding technical coop.) 249 330 289 442 388 376 566 631 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 384 563 537 878 858 974 948 970 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 9.0 8.0 8.4 8.1 6.6 Japanese yen 30.4 20.7 16.9 15.9 13.5 12.0 8.4 9.1 Pound sterling 0.7 0.2 0.1 0.1 0.1 0.1 0.1 0.0 Swiss franc 0.2 0.0 0.1 0.1 0.1 0.1 0.0 0.0 U.S.dollars 29.1 58.1 71.5 70.8 74.7 76.3 80.6 81.7 4. Average terms of new commitments Official creditors Interest (%) 3.7 6.8 7.2 2.5 4.3 5.4 5.4 3.6 Maturity (years) 27.9 18.3 21.1 22.3 22.5 21.8 21.0 22.3 Grace period (years) 7.9 3.7 4.9 5.2 5.5 5.7 5.4 5.8 Private creditors Interest (%) 8.6 6.3 5.9 4.6 4.6 5.0 4.1 4.6 Maturity (years) 13.3 7.3 17.0 9.6 9.1 14.4 9.0 13.0 Grace period (years) 2.7 2.4 1.8 8.0 5.2 0.9 1.4 1.1 5. Major economic aggregates Gross national income (GNI) 357,992 716,233 1,183,815 1,928,118 2,246,549 2,673,038 3,407,955 4,370,420 Exports of goods, services & income 60,515 152,781 292,668 680,998 881,342 1,123,154 1,435,916 1,686,885 Worker remit. & comp. of employees 210 1,053 6,244 19,014 20,337 23,319 32,833 40,641 Imports of goods & services 48,668 152,248 277,904 630,610 740,414 892,255 1,092,071 1,293,020 International reserves 34,476 80,288 171,763 622,949 831,410 1,080,756 1,546,365 .. Current account balance 11,997 1,618 20,518 68,659 160,818 253,268 371,833 426,107 6. Ratios External debt stocks to exports (%) 91.4 77.3 49.8 36.4 32.2 29.0 26.0 22.4 External debt stocks to GNI (%) 15.4 16.5 12.3 12.8 12.6 12.2 11.0 8.7 Debt service to exports (%) 11.7 9.9 9.3 3.4 3.1 2.4 2.2 2.0 Short-term to external debt stocks (%) 16.8 18.9 9.0 46.7 52.2 53.3 54.5 49.5 Multilateral to external debt stocks (%) 11.1 13.8 17.7 10.7 9.3 8.5 7.8 8.1 Reserves to external debt stocks (%) 62.3 68.0 117.9 251.5 292.8 332.3 413.7 .. Reserves to imports (months) 8.5 6.3 7.4 11.9 13.5 14.5 17.0 .. 94 CHINA 7. Long-term external debt Debt outstanding and disbursed 45,515 95,764 132,631 131,909 135,719 151,883 170,075 191,057 Public and publicly guaranteed 45,515 94,674 94,842 89,751 85,227 88,217 87,791 89,283 Official creditors 14,514 36,982 50,374 57,248 52,215 55,333 58,375 63,128 Multilateral 6,111 16,302 25,811 26,525 26,413 27,738 29,258 30,655 of which: IBRD 2,865 7,209 11,118 11,035 11,140 11,415 11,762 12,464 IDA 3,016 7,038 8,771 10,670 9,741 9,997 10,151 9,786 Bilateral 8,403 20,680 24,563 30,723 25,802 27,595 29,117 32,473 Private creditors 31,001 57,693 44,467 32,503 33,012 32,884 29,416 26,154 of which: Bonds 5,425 10,684 11,371 13,769 16,039 16,382 16,566 13,925 Commercial banks 14,520 23,869 10,619 3,434 3,247 3,763 3,030 2,868 Private nonguaranteed 0 1,090 37,789 42,158 50,492 63,666 82,284 101,774 of which: Bonds 0 1,090 1,068 2,326 3,574 5,279 6,018 5,970 Disbursements 9,665 21,985 16,776 24,181 29,228 26,524 36,339 38,188 Public and publicly guaranteed 9,665 21,441 9,694 6,605 9,776 6,278 6,562 5,449 Official creditors 2,578 9,073 5,790 2,513 2,169 3,588 2,835 3,893 Multilateral 1,158 2,838 3,303 1,757 2,010 2,153 2,425 2,870 of which: IBRD 591 1,457 1,528 1,119 1,061 1,134 1,194 1,604 IDA 507 812 379 69 70 34 14 9 Bilateral 1,420 6,235 2,487 756 159 1,434 410 1,023 Private creditors 7,087 12,368 3,904 4,093 7,606 2,690 3,727 1,556 of which: Bonds 277 1,224 848 3,747 4,208 0 1,456 0 Commercial banks 3,247 4,977 131 75 2,161 17 215 27 Private nonguaranteed 0 544 7,082 17,576 19,452 20,246 29,777 32,739 of which: Bonds 0 544 390 737 1,622 1,945 740 0 Principal repayments 3,319 9,070 19,924 16,289 20,846 18,120 20,780 25,143 Public and publicly guaranteed 3,319 9,070 10,797 4,905 6,569 6,520 5,717 7,934 Official creditors 851 1,171 4,270 2,459 1,323 2,684 2,845 2,990 Multilateral 220 420 1,400 1,531 1,195 1,333 1,397 1,520 of which: IBRD 216 350 578 813 787 901 908 971 IDA 0 14 66 186 217 243 276 309 Bilateral 631 751 2,870 928 128 1,351 1,448 1,470 Private creditors 2,468 7,899 6,527 2,446 5,246 3,836 2,872 4,944 of which: Bonds 325 1,451 443 769 550 0 479 1,746 Commercial banks 808 2,645 2,016 271 1,936 149 676 264 Private nonguaranteed 0 0 9,127 11,384 14,277 11,600 15,063 17,209 of which: Bonds 0 0 534 26 370 240 0 350 Interest payments 2,534 4,657 5,998 4,003 3,218 3,818 5,454 4,760 Public and publicly guaranteed 2,534 4,623 4,074 3,048 2,201 2,304 3,227 2,540 Official creditors 531 1,288 2,386 1,858 1,375 1,427 1,690 1,407 Multilateral 226 619 1,518 866 680 935 1,105 1,009 of which: IBRD 200 460 713 242 351 542 653 553 IDA 19 49 65 78 79 74 74 79 Bilateral 305 669 867 992 695 492 586 398 Private creditors 2,003 3,335 1,688 1,190 826 877 1,537 1,133 of which: Bonds 367 594 521 328 430 502 778 445 Commercial banks 959 1,333 222 294 71 80 182 33 Private nonguaranteed 0 33 1,924 954 1,017 1,514 2,227 2,220 of which: Bonds 0 33 93 122 248 343 445 431 8. Debt stock-flow reconciliation Total change in external debt stocks 10,369 17,633 -6,354 39,248 36,307 41,274 48,514 4,472 Net flows on external debt 8,267 17,758 -5,247 35,569 40,878 33,514 45,880 -3,464 Cross-currency valuation 1,415 -375 -3,116 1,424 -3,680 1,187 1,808 1,464 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 6,927 6,543 5,618 5,733 5,613 5,516 5,372 5,151 Interest 2,172 1,928 1,719 1,535 1,345 1,159 973 792 Private creditors Principal 31,142 22,984 21,943 12,382 10,887 9,151 9,293 4,755 Interest 4,876 3,748 2,826 2,140 1,582 1,171 790 396 Notes: Data on long-term public and publicly guaranteed, long-term private nonguaranteed and short-term debt for 2008 are World Bank staff estimates based on aggregate information provided by the authorities. 95 COLOMBIA 1. Summary external debt data External debt stocks 17,222 25,044 33,937 37,911 37,720 38,320 43,956 46,887 Long-term external debt 15,784 19,499 31,066 32,791 31,544 33,557 38,795 41,202 Public and publicly guaranteed 14,671 13,946 20,806 23,772 22,555 25,003 27,683 29,390 Private nonguaranteed 1,113 5,553 10,259 9,019 8,989 8,554 11,112 11,812 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 1,438 5,545 2,871 5,120 6,176 4,763 5,161 5,684 interest arrears on long-term 28 2 0 0 0 0 0 0 Memorandum items 409 177 8 0 0 0 0 0 14,630 13,945 20,805 23,771 22,554 25,000 27,682 28,788 1,154 5,555 10,261 9,020 8,990 8,557 11,114 12,414 1,269 1,792 3,782 3,030 4,879 5,199 4,772 5,071 External debt flows Disbursements 1,994 4,179 3,803 4,416 6,496 9,225 8,860 7,239 Long-term external debt 1,994 4,179 3,803 4,416 6,496 9,225 8,860 7,239 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 2,189 2,347 2,900 5,249 7,403 7,773 5,642 4,875 Long-term external debt 2,189 2,347 2,900 5,249 7,403 7,773 5,642 4,875 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -399 2,894 -191 731 149 39 3,616 2,888 Long-term external debt -195 1,832 903 -832 -907 1,452 3,218 2,365 Short-term external debt -204 1,062 -1,094 1,564 1,056 -1,413 398 524 Interest payments 1,701 1,998 2,204 2,440 2,838 2,590 3,005 3,066 Long-term external debt 1,558 1,687 2,032 2,262 2,584 2,371 2,761 2,799 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 143 311 172 178 254 220 244 267 2. Other non-debt resource flows Foreign direct investment (net) 500 968 2,395 3,016 10,252 6,656 9,049 10,600 Portfolio equity flows 0 165 17 130 86 -30 790 -86 Profit remittances on FDI 964 359 655 2,433 3,565 4,591 6,448 8,410 Grants (excluding technical coop.) 35 74 79 138 186 263 521 733 of which: Debt forgiveness grants .. .. 0 8 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 79 98 182 475 530 779 232 264 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.3 4.2 3.5 3.4 1.4 Japanese yen 4.9 5.6 3.6 1.7 1.6 1.3 1.1 1.1 Pound sterling 0.3 0.1 0.8 0.9 0.8 0.8 0.8 0.0 Swiss franc 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 44.0 49.9 74.4 81.4 85.2 88.2 89.9 93.8 4. Average terms of new commitments Official creditors Interest (%) 7.5 6.4 8.8 4.4 5.1 5.5 5.7 3.7 Maturity (years) 18.7 20.4 12.1 16.9 15.9 17.7 11.9 23.1 Grace period (years) 5.4 4.8 3.1 6.4 6.0 5.3 4.7 7.1 Private creditors Interest (%) 9.3 3.8 7.6 9.0 8.0 7.3 9.2 6.8 Maturity (years) 10.2 6.1 10.2 12.3 11.4 18.4 13.4 14.5 Grace period (years) 2.2 4.0 7.5 12.1 10.2 16.9 13.2 13.7 5. Major economic aggregates Gross national income (GNI) 38,193 90,924 91,738 109,496 139,124 156,417 199,900 232,130 Exports of goods, services & income 9,514 13,781 18,440 23,323 28,785 33,972 40,565 49,106 Worker remit. & comp. of employees 495 815 1,610 3,190 3,346 3,928 4,523 4,884 Imports of goods & services 9,510 18,286 17,728 24,783 31,435 37,808 47,123 56,491 International reserves 4,869 8,452 9,006 13,537 14,955 15,437 20,951 23,671 Current account balance 542 -4,516 808 -906 -1,882 -2,982 -5,819 -6,713 6. Ratios External debt stocks to exports (%) 181.0 181.7 184.0 162.5 131.0 112.8 108.4 95.5 External debt stocks to GNI (%) 45.1 27.5 37.0 34.6 27.1 24.5 22.0 20.2 Debt service to exports (%) 40.9 31.5 27.7 33.0 35.6 30.5 21.3 16.2 Short-term to external debt stocks (%) 8.4 22.1 8.5 13.5 16.4 12.4 11.7 12.1 Multilateral to external debt stocks (%) 35.4 21.2 18.5 27.5 25.5 28.3 25.7 28.3 Reserves to external debt stocks (%) 28.3 33.7 26.5 35.7 39.6 40.3 47.7 50.5 Reserves to imports (months) 6.1 5.5 6.1 6.6 5.7 4.9 5.3 5.0 96 COLOMBIA 7. Long-term external debt Debt outstanding and disbursed 15,784 19,499 31,066 32,791 31,544 33,557 38,795 41,202 Public and publicly guaranteed 14,671 13,946 20,806 23,772 22,555 25,003 27,683 29,390 Official creditors 8,540 7,063 7,722 11,551 10,568 11,659 11,994 13,890 Multilateral 6,103 5,316 6,274 10,410 9,615 10,843 11,277 13,259 of which: IBRD 3,859 2,548 1,920 3,490 3,896 4,563 4,756 5,438 IDA 14 11 7 5 4 3 2 2 Bilateral 2,437 1,747 1,448 1,141 954 816 717 631 Private creditors 6,131 6,883 13,084 12,222 11,987 13,344 15,690 15,500 of which: Bonds 275 1,733 8,201 10,741 10,927 12,162 12,354 12,280 Commercial banks 4,208 4,163 4,252 1,144 800 1,034 2,504 2,482 Private nonguaranteed 1,113 5,553 10,259 9,019 8,989 8,554 11,112 11,812 of which: Bonds 0 717 762 370 370 540 809 809 Disbursements 1,994 4,179 3,803 4,416 6,496 9,225 8,860 7,239 Public and publicly guaranteed 1,847 1,569 2,939 2,884 4,376 5,860 4,494 4,007 Official creditors 697 685 660 1,173 1,467 2,239 1,585 2,712 Multilateral 559 394 508 1,169 1,467 2,221 1,581 2,691 of which: IBRD 213 238 266 455 705 942 564 847 IDA 0 0 0 0 0 0 0 0 Bilateral 139 290 152 4 0 18 4 21 Private creditors 1,150 885 2,279 1,711 2,908 3,622 2,909 1,296 of which: Bonds 0 535 1,804 1,375 2,304 2,696 1,293 1,000 Commercial banks 874 257 469 292 591 926 1,615 296 Private nonguaranteed 147 2,610 865 1,533 2,121 3,364 4,366 3,232 of which: Bonds 0 592 0 170 0 170 469 0 Principal repayments 2,189 2,347 2,900 5,249 7,403 7,773 5,642 4,875 Public and publicly guaranteed 1,875 2,200 2,068 2,083 4,712 3,863 2,915 2,170 Official creditors 737 1,110 557 1,123 2,223 1,177 1,366 879 Multilateral 527 647 440 943 2,072 1,005 1,249 755 of which: IBRD 434 414 242 255 218 259 432 158 IDA 1 1 1 1 1 1 1 1 Bilateral 210 463 116 180 151 171 117 124 Private creditors 1,138 1,090 1,511 961 2,488 2,686 1,549 1,291 of which: Bonds 4 119 469 441 1,723 1,879 1,353 953 Commercial banks 849 723 838 438 680 693 150 318 Private nonguaranteed 314 147 832 3,165 2,692 3,910 2,727 2,705 of which: Bonds 0 0 110 176 0 0 200 0 Interest payments 1,558 1,687 2,032 2,262 2,584 2,371 2,761 2,799 Public and publicly guaranteed 1,240 962 1,414 1,636 1,947 1,664 1,961 2,142 Official creditors 627 505 541 545 574 580 682 663 Multilateral 476 388 470 497 529 543 648 635 of which: IBRD 318 190 126 152 174 210 256 241 IDA 0 0 0 0 0 0 0 0 Bilateral 150 118 71 48 44 37 33 27 Private creditors 613 457 873 1,091 1,373 1,083 1,279 1,480 of which: Bonds 27 58 515 1,009 1,284 1,005 1,058 1,112 Commercial banks 461 310 298 58 69 64 61 213 Private nonguaranteed 318 725 618 625 637 707 800 656 of which: Bonds 0 15 84 38 36 43 75 68 8. Debt stock-flow reconciliation Total change in external debt stocks 336 3,106 -490 913 -191 600 5,636 2,931 Net flows on external debt -399 2,894 -191 731 149 39 3,616 2,888 Cross-currency valuation 494 315 -364 426 -261 1,436 330 3 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 2 0 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 934 1,112 1,282 1,192 1,150 1,339 1,148 1,071 Interest 555 522 483 439 400 358 316 279 Private creditors Principal 4,634 3,613 1,981 2,297 1,179 2,472 1,481 554 Interest 1,912 1,646 1,409 1,302 1,118 1,068 884 769 Notes: Short-term debt is based on the Central Bank data. 97 COMOROS 1. Summary external debt data External debt stocks 187.8 214.5 236.6 307.4 291.2 296.1 291.0 281.3 Long-term external debt 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Public and publicly guaranteed 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 3.3 1.5 0.0 0.0 0.0 0.0 5.1 Short-term external debt 12.4 10.0 28.1 34.1 33.7 36.3 11.8 5.8 interest arrears on long-term 12.2 8.0 19.1 31.1 30.7 32.3 7.8 5.8 Memorandum items 25.5 26.7 60.2 78.0 74.1 78.6 38.5 27.4 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 4.7 0.0 13.3 0.0 0.0 0.0 0.0 External debt flows Disbursements 5.1 9.6 2.1 3.2 2.7 3.0 4.8 6.7 Long-term external debt 5.1 9.6 2.1 3.2 2.7 3.0 4.8 1.4 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.3 Principal repayments 0.2 0.4 1.8 2.2 2.6 2.3 13.0 8.1 Long-term external debt 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 IMF repurchases 0.0 0.0 0.6 0.2 0.0 0.0 0.0 0.0 Net flows 1.8 11.2 2.3 3.0 0.1 1.7 -8.1 -5.4 Long-term external debt 4.8 9.2 0.9 1.3 0.1 0.7 -8.1 -6.7 Short-term external debt -3.0 2.0 2.0 1.9 0.0 1.0 0.0 -4.0 Interest payments 0.9 0.6 1.4 1.1 1.4 1.4 13.3 4.2 Long-term external debt 0.7 0.5 0.8 1.0 1.3 1.1 13.1 4.2 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 0.2 0.1 0.6 0.1 0.2 0.2 0.2 0.0 2. Other non-debt resource flows Foreign direct investment (net) 0.4 0.9 0.1 0.7 0.6 0.6 8.0 8.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.6 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 27.7 17.8 10.7 14.5 12.2 18.7 28.8 27.6 of which: Debt forgiveness grants .. .. 1.7 2.2 2.2 2.2 2.3 2.4 IDA grants .. .. .. 0.0 0.0 0.0 0.0 1.2 Memo: technical coop. grants 15.8 14.6 8.4 12.2 12.6 13.3 16.6 11.9 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 13.1 12.4 12.3 11.6 11.5 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 16.7 27.1 31.9 41.0 40.7 41.4 42.6 43.2 4. Average terms of new commitments Official creditors Interest (%) 2.0 0.9 0.0 0.8 0.0 0.0 0.0 0.0 Maturity (years) 29.8 37.7 0.0 39.8 0.0 0.0 0.0 0.0 Grace period (years) 10.3 10.4 0.0 10.3 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 249.3 232.9 202.2 360.2 384.6 403.6 466.9 531.2 Exports of goods, services & income 48.1 61.4 .. .. .. .. .. .. Worker remit. & comp. of employees 10.0 12.0 12.0 12.0 12.0 12.0 12.0 12.0 Imports of goods & services 93.4 105.7 .. .. .. .. .. .. International reserves 29.9 44.9 43.4 104.0 86.1 93.9 117.6 112.7 Current account balance -10.5 -19.0 .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) 390.5 349.2 .. .. .. .. .. .. External debt stocks to GNI (%) 75.3 92.1 117.0 85.3 75.7 73.4 62.3 53.0 Debt service to exports (%) 2.3 1.6 .. .. .. .. .. .. Short-term to external debt stocks (%) 6.6 4.7 11.9 11.1 11.6 12.3 4.1 2.1 Multilateral to external debt stocks (%) 61.0 72.9 70.1 72.4 71.0 73.0 78.1 77.7 Reserves to external debt stocks (%) 15.9 20.9 18.3 33.8 29.6 31.7 40.4 40.1 Reserves to imports (months) 3.8 5.1 .. .. .. .. .. .. 98 COMOROS 7. Long-term external debt Debt outstanding and disbursed 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Public and publicly guaranteed 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Official creditors 175.4 201.2 206.9 273.4 257.4 259.8 279.2 270.3 Multilateral 114.6 156.5 165.9 222.6 206.8 216.3 227.4 218.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 37.5 64.1 70.8 118.7 111.1 117.1 124.4 122.3 Bilateral 60.8 44.7 41.1 50.8 50.7 43.5 51.8 51.6 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 5.1 9.6 2.1 3.2 2.7 3.0 4.8 1.4 Public and publicly guaranteed 5.1 9.6 2.1 3.2 2.7 3.0 4.8 1.4 Official creditors 5.1 9.6 2.1 3.2 2.7 3.0 4.8 1.4 Multilateral 0.9 9.6 2.1 3.2 2.7 3.0 4.8 1.4 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.7 9.6 2.1 3.2 2.7 3.0 4.8 1.4 Bilateral 4.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 Public and publicly guaranteed 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 Official creditors 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 Multilateral 0.2 0.4 1.2 2.0 2.6 2.3 13.0 8.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.1 0.4 0.8 1.8 2.0 2.0 2.3 2.6 Bilateral 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 0.7 0.5 0.8 1.0 1.3 1.1 13.1 4.2 Public and publicly guaranteed 0.7 0.5 0.8 1.0 1.3 1.1 13.1 4.2 Official creditors 0.7 0.5 0.8 1.0 1.3 1.1 13.1 4.2 Multilateral 0.4 0.5 0.8 1.0 1.3 1.1 12.9 3.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.3 0.4 0.8 0.9 0.9 0.9 0.9 0.8 Bilateral 0.3 0.0 0.0 0.0 0.0 0.0 0.2 0.3 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 10.7 11.9 0.6 14.3 -16.3 4.9 -5.1 -9.7 Net flows on external debt 1.8 11.2 2.3 3.0 0.1 1.7 -8.1 -5.4 Cross-currency valuation 2.5 -3.4 -9.5 6.6 -12.0 6.9 7.2 -0.9 9. Debt restructurings Total amount rescheduled 0.0 2.0 0.0 0.0 0.0 0.0 68.6 0.0 Total amount forgiven 0.1 0.4 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 7.7 7.4 7.6 7.9 7.1 7.4 7.8 7.8 Interest 1.8 1.8 1.7 1.7 1.6 1.6 1.5 1.5 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 99 CONGO, DEMOCRATIC REPUBLIC OF 1. Summary external debt data External debt stocks 10,259 13,239 11,692 11,434 10,600 11,244 12,359 12,199 Long-term external debt 8,994 9,636 7,880 10,125 9,412 9,891 10,928 10,872 Public and publicly guaranteed 8,994 9,636 7,880 10,125 9,412 9,891 10,928 10,872 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 521 485 391 818 791 833 808 654 Short-term external debt 744 3,118 3,421 491 397 520 623 673 interest arrears on long-term 265 2,937 3,042 372 359 378 443 464 Memorandum items 1,050 4,569 4,949 938 1,186 1,279 1,530 1,676 8,994 9,621 7,867 10,125 9,412 9,891 10,928 10,872 0 15 13 0 0 0 0 0 109 14 0 434 45 45 0 0 External debt flows Disbursements 315 0 0 291 288 182 116 100 Long-term external debt 315 0 0 211 249 182 116 100 IMF purchases 0 0 0 79 39 0 0 0 Principal repayments 201 1 0 67 112 173 259 349 Long-term external debt 49 0 0 67 112 173 195 212 IMF repurchases 152 1 0 0 0 0 64 137 Net flows 88 61 20 315 95 113 -105 -220 Long-term external debt 266 0 0 144 137 9 -79 -112 Short-term external debt -27 63 20 92 -81 104 38 29 Interest payments 147 24 25 73 102 148 284 292 Long-term external debt 88 0 0 69 97 140 273 282 IMF charges 38 16 0 2 2 4 4 4 Short-term external debt 21 8 25 2 3 5 6 6 2. Other non-debt resource flows Foreign direct investment (net) 23 122 166 10 -76 -116 720 1,000 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 374 161 137 1,460 1,004 1,749 1,137 1,522 of which: Debt forgiveness grants .. .. 13 780 174 857 170 49 IDA grants .. .. .. 56 194 131 121 198 Memo: technical coop. grants 146 55 48 139 184 178 115 156 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 33.3 30.1 31.3 31.0 28.9 Japanese yen 3.0 3.7 4.8 7.8 7.3 6.8 6.3 7.9 Pound sterling 1.2 0.9 1.1 1.3 1.2 1.3 1.2 0.9 Swiss franc 0.2 0.3 0.2 0.3 0.3 0.3 0.3 0.3 U.S.dollars 41.5 40.8 44.6 43.1 46.0 45.2 41.8 42.1 4. Average terms of new commitments Official creditors Interest (%) 5.9 2.5 0.0 0.8 1.5 2.2 0.0 0.0 Maturity (years) 23.8 19.9 0.0 40.7 30.3 27.8 0.0 0.0 Grace period (years) 6.4 4.4 0.0 10.0 6.7 1.7 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 1.3 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 8,579 4,878 3,918 6,309 6,826 8,316 9,315 10,323 Exports of goods, services & income .. .. .. .. .. .. .. .. Worker remit. & comp. of employees .. .. .. .. .. .. .. .. Imports of goods & services .. .. .. .. .. .. .. .. International reserves 261 157 83 236 131 155 181 .. Current account balance .. .. .. .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 119.6 271.4 298.4 181.2 155.3 135.2 132.7 118.2 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 7.2 23.6 29.3 4.3 3.7 4.6 5.0 5.5 Multilateral to external debt stocks (%) 18.6 18.0 18.5 27.1 28.8 29.2 32.8 34.0 Reserves to external debt stocks (%) 2.5 1.2 0.7 2.1 1.2 1.4 1.5 .. Reserves to imports (months) .. .. .. .. .. .. .. .. 100 CONGO, DEMOCRATIC REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 8,994 9,636 7,880 10,125 9,412 9,891 10,928 10,872 Public and publicly guaranteed 8,994 9,636 7,880 10,125 9,412 9,891 10,928 10,872 Official creditors 8,105 8,758 7,384 9,749 9,042 9,524 10,571 10,520 Multilateral 1,912 2,382 2,164 3,098 3,050 3,280 4,056 4,150 of which: IBRD 49 92 81 0 0 0 0 0 IDA 1,112 1,321 1,188 1,993 2,050 2,251 2,402 2,437 Bilateral 6,193 6,376 5,220 6,651 5,992 6,244 6,515 6,371 Private creditors 889 878 496 376 370 367 357 351 of which: Bonds 5 5 3 1 1 1 0 0 Commercial banks 118 117 81 1 1 1 1 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 315 0 0 211 249 182 116 100 Public and publicly guaranteed 315 0 0 211 249 182 116 100 Official creditors 312 0 0 211 249 182 116 100 Multilateral 222 0 0 211 249 143 105 100 of which: IBRD 21 0 0 0 0 0 0 0 IDA 89 0 0 167 226 138 99 92 Bilateral 90 0 0 0 0 39 10 0 Private creditors 3 0 0 0 0 0 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 49 0 0 67 112 173 195 212 Public and publicly guaranteed 49 0 0 67 112 173 195 212 Official creditors 34 0 0 63 110 167 190 205 Multilateral 28 0 0 11 11 51 76 97 of which: IBRD 5 0 0 0 0 0 0 0 IDA 2 0 0 0 0 32 38 42 Bilateral 6 0 0 52 98 116 114 109 Private creditors 15 0 0 4 2 6 5 7 of which: Bonds 0 0 0 0 1 0 0 0 Commercial banks 5 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 88 0 0 69 97 140 273 282 Public and publicly guaranteed 88 0 0 69 97 140 273 282 Official creditors 76 0 0 68 95 138 271 279 Multilateral 40 0 0 48 52 68 117 130 of which: IBRD 1 0 0 0 0 0 0 0 IDA 7 0 0 11 12 18 18 18 Bilateral 36 0 0 20 43 70 153 149 Private creditors 12 0 0 0 1 2 2 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 1,007 918 -356 179 -834 643 1,116 -161 Net flows on external debt 88 61 20 315 95 113 -105 -220 Cross-currency valuation 400 95 -373 426 -816 478 647 -75 9. Debt restructurings Total amount rescheduled 446 0 0 49 34 0 0 0 Total amount forgiven 24 0 0 130 94 0 40 161 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 751 295 306 316 333 292 250 259 Interest 179 163 156 148 140 132 126 122 Private creditors Principal 61 4 4 4 4 4 1 1 Interest 2 1 1 1 1 0 0 0 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $40,433 in thousands and $42,477 in thousands respectively. 101 CONGO, REPUBLIC OF 1. Summary external debt data External debt stocks 4,916 5,893 4,786 6,296 5,812 7,005 5,961 5,485 Long-term external debt 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 Public and publicly guaranteed 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 11 19 41 29 26 35 37 38 Short-term external debt 732 1,002 1,059 756 717 832 418 363 interest arrears on long-term 177 412 638 756 706 769 313 226 Memorandum items 569 950 1,728 2,649 2,502 2,658 1,073 877 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 0 0 0 0 0 0 0 0 192 31 0 40 6 0 10 8 External debt flows Disbursements 318 15 15 40 59 22 10 5 Long-term external debt 312 15 1 28 48 10 10 3 IMF purchases 5 0 14 12 12 12 0 2 Principal repayments 357 85 6 119 71 51 38 39 Long-term external debt 350 83 6 107 59 47 38 39 IMF repurchases 7 2 0 12 12 4 0 0 Net flows 99 165 -52 -111 -1 23 14 -2 Long-term external debt -38 -68 -5 -80 -12 -37 -28 -36 Short-term external debt 138 236 -61 -31 11 52 42 32 Interest payments 163 97 38 88 30 31 21 63 Long-term external debt 114 61 7 88 29 29 17 58 IMF charges 1 1 1 0 0 0 0 0 Short-term external debt 48 35 30 0 0 2 4 5 2. Other non-debt resource flows Foreign direct investment (net) -14 125 166 -9 514 1,488 2,638 2,622 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 326 466 647 1,296 1,403 1,651 0 Grants (excluding technical coop.) 50 86 31 77 1,289 252 100 504 of which: Debt forgiveness grants .. .. 9 5 1,234 157 13 351 IDA grants .. .. .. 6 11 10 13 16 Memo: technical coop. grants 51 41 19 32 32 30 46 36 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 37.5 33.4 29.1 32.4 31.9 Japanese yen 0.2 0.2 0.2 0.2 0.2 0.1 0.2 0.2 Pound sterling 5.4 3.5 4.9 3.7 4.1 3.6 3.3 2.4 Swiss franc 0.4 0.5 0.3 0.1 0.2 0.2 0.2 0.2 U.S.dollars 16.5 24.0 29.6 53.3 56.1 62.0 58.8 60.0 4. Average terms of new commitments Official creditors Interest (%) 4.3 2.2 0.0 0.8 4.2 0.0 1.0 2.8 Maturity (years) 16.9 31.8 0.0 42.4 23.7 0.0 19.7 19.5 Grace period (years) 7.2 9.0 0.0 10.4 7.2 0.0 5.2 4.8 Private creditors Interest (%) 9.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,324 1,228 2,275 3,247 4,509 5,961 5,548 8,367 Exports of goods, services & income 1,503 1,384 2,644 3,649 4,983 6,352 6,151 .. Worker remit. & comp. of employees .. 4 10 15 11 13 15 15 Imports of goods & services 1,757 2,050 2,013 2,947 4,318 6,202 8,294 .. International reserves 10 64 225 124 738 1,848 2,184 3,881 Current account balance -251 -625 648 674 696 124 -2,181 .. 6. Ratios External debt stocks to exports (%) 327.2 425.7 181.0 172.5 116.6 110.3 96.9 .. External debt stocks to GNI (%) 211.5 479.7 210.3 193.9 128.9 117.5 107.4 65.6 Debt service to exports (%) 34.6 13.2 1.7 5.7 2.0 1.3 1.0 .. Short-term to external debt stocks (%) 14.9 17.0 22.1 12.0 12.3 11.9 7.0 6.6 Multilateral to external debt stocks (%) 11.3 10.7 10.4 7.8 8.4 7.0 7.9 8.2 Reserves to external debt stocks (%) 0.2 1.1 4.7 2.0 12.7 26.4 36.6 70.8 Reserves to imports (months) 0.1 0.4 1.3 0.5 2.0 3.6 3.2 .. 102 CONGO, REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 Public and publicly guaranteed 4,173 4,872 3,685 5,511 5,069 6,137 5,506 5,084 Official creditors 3,033 3,964 2,926 3,300 2,961 4,000 3,977 3,534 Multilateral 555 631 499 492 490 490 472 450 of which: IBRD 164 105 65 0 0 0 0 0 IDA 75 174 159 269 280 295 303 299 Bilateral 2,478 3,333 2,427 2,808 2,472 3,511 3,505 3,084 Private creditors 1,139 908 760 2,210 2,108 2,137 1,529 1,550 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 724 785 693 2,113 2,023 2,043 1,448 1,453 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 312 15 1 28 48 10 10 3 Public and publicly guaranteed 312 15 1 28 48 10 10 3 Official creditors 127 15 1 28 48 10 10 3 Multilateral 11 1 0 27 45 8 9 3 of which: IBRD 2 1 0 0 0 0 0 0 IDA 0 0 0 27 35 8 2 3 Bilateral 116 14 1 1 3 2 1 0 Private creditors 185 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 174 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 350 83 6 107 59 47 38 39 Public and publicly guaranteed 350 83 6 107 59 47 38 39 Official creditors 66 33 6 107 59 47 38 33 Multilateral 26 20 6 99 44 28 22 15 of which: IBRD 6 18 2 3 0 0 0 0 IDA 0 1 1 4 5 5 5 5 Bilateral 40 13 0 9 16 19 16 19 Private creditors 283 50 0 0 0 0 0 6 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 255 46 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 114 61 7 88 29 29 17 58 Public and publicly guaranteed 114 61 7 88 29 29 17 58 Official creditors 62 21 7 88 29 29 17 34 Multilateral 25 11 7 84 26 14 11 9 of which: IBRD 12 10 1 0 0 0 0 0 IDA 1 1 1 2 2 2 2 2 Bilateral 38 9 0 4 4 15 6 25 Private creditors 51 40 0 0 0 0 0 24 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 44 39 0 0 0 0 0 23 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 685 587 -138 897 -483 1,193 -1,044 -476 Net flows on external debt 99 165 -52 -111 -1 23 14 -2 Cross-currency valuation 316 116 -157 201 -319 241 236 -149 9. Debt restructurings Total amount rescheduled 780 108 0 1,097 86 124 802 107 Total amount forgiven 0 24 0 1,349 142 144 1,297 366 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 289 77 109 143 150 155 148 148 Interest 30 17 36 54 51 47 44 41 Private creditors Principal 2 2 2 25 48 48 48 48 Interest 24 24 24 24 23 21 20 18 Notes: Data include the effects of London Club debt restructuring agreement signed in 2007 and Paris Club debt restructuring agreement signed in 2008. Data for 2007 and 2008 include the effects of Enhanced HIPC Initiative, in the amount of $3,616 in thousands and $3,596 in thousands respectively. 103 COSTA RICA 1. Summary external debt data External debt stocks 3,748 3,774 4,642 5,712 6,487 6,994 8,341 8,812 Long-term external debt 3,360 3,320 3,694 4,040 4,390 4,639 5,107 4,948 Public and publicly guaranteed 3,056 3,106 3,458 3,515 3,159 3,313 3,586 3,043 Private nonguaranteed 304 214 236 525 1,231 1,325 1,521 1,904 Use of IMF credit 11 24 0 0 0 0 0 0 Short-term external debt 377 430 948 1,672 2,097 2,355 3,234 3,864 interest arrears on long-term 77 32 12 2 2 2 0 0 Memorandum items 171 98 29 0 0 0 0 0 3,053 3,104 3,457 3,515 3,159 3,313 3,586 3,043 308 216 237 525 1,231 1,325 1,521 1,904 230 25 824 292 358 211 115 324 External debt flows Disbursements 206 211 758 822 985 458 541 897 Long-term external debt 206 211 758 822 985 458 541 897 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 297 401 388 692 569 497 554 1,091 Long-term external debt 272 357 388 692 569 497 554 1,091 IMF repurchases 26 44 0 0 0 0 0 0 Net flows -111 -148 549 190 841 219 867 437 Long-term external debt -65 -146 370 130 416 -39 -13 -194 Short-term external debt -20 42 179 60 425 258 880 630 Interest payments 207 251 262 220 274 293 346 470 Long-term external debt 172 225 206 154 179 176 206 364 IMF charges 3 3 0 0 0 0 0 0 Short-term external debt 32 23 56 66 94 118 140 106 2. Other non-debt resource flows Foreign direct investment (net) 163 337 409 794 861 1,469 1,896 2,021 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 60 109 1,141 330 743 853 1,131 713 Grants (excluding technical coop.) 110 30 23 30 23 30 62 39 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 73 77 23 28 28 29 45 37 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 1.7 1.5 1.4 1.6 1.7 Japanese yen 3.0 8.2 4.0 3.0 2.7 2.1 2.5 4.2 Pound sterling 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 58.2 49.0 69.7 72.3 77.2 80.2 82.5 87.1 4. Average terms of new commitments Official creditors Interest (%) 6.4 2.2 6.3 6.3 5.7 2.3 5.5 4.5 Maturity (years) 17.6 7.3 4.3 8.3 17.5 22.1 11.0 18.2 Grace period (years) 5.0 1.2 1.8 3.2 4.0 6.5 4.8 4.3 Private creditors Interest (%) 9.5 6.9 8.3 6.5 8.2 6.9 0.0 0.0 Maturity (years) 3.2 6.0 17.3 10.0 12.1 10.3 0.0 0.0 Grace period (years) 1.1 1.5 17.3 10.0 0.5 10.3 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 7,151 11,497 14,697 17,818 19,174 21,788 25,468 29,053 Exports of goods, services & income 2,094 4,713 8,113 9,058 10,928 12,698 14,155 14,924 Worker remit. & comp. of employees 12 123 136 320 420 513 618 605 Imports of goods & services 2,709 5,089 8,793 9,764 11,779 13,580 15,675 17,511 International reserves 525 1,060 1,318 1,923 2,314 3,117 4,115 3,801 Current account balance -424 -358 -707 -796 -981 -1,023 -1,646 -2,729 6. Ratios External debt stocks to exports (%) 179.1 80.1 57.2 63.1 59.4 55.1 58.9 59.0 External debt stocks to GNI (%) 52.4 32.8 31.6 32.1 33.8 32.1 32.8 30.3 Debt service to exports (%) 24.1 13.8 8.0 10.1 7.7 6.2 6.4 10.5 Short-term to external debt stocks (%) 10.1 11.4 20.4 29.3 32.3 33.7 38.8 43.9 Multilateral to external debt stocks (%) 30.4 36.6 28.1 25.1 18.1 18.0 13.5 10.2 Reserves to external debt stocks (%) 14.0 28.1 28.4 33.7 35.7 44.6 49.3 43.1 Reserves to imports (months) 2.3 2.5 1.8 2.4 2.4 2.8 3.2 2.6 104 COSTA RICA 7. Long-term external debt Debt outstanding and disbursed 3,360 3,320 3,694 4,040 4,390 4,639 5,107 4,948 Public and publicly guaranteed 3,056 3,106 3,458 3,515 3,159 3,313 3,586 3,043 Official creditors 2,352 2,494 1,867 1,665 1,368 1,450 1,412 1,235 Multilateral 1,140 1,380 1,305 1,432 1,174 1,258 1,123 903 of which: IBRD 409 300 121 71 59 53 45 41 IDA 3 3 2 1 1 1 1 0 Bilateral 1,212 1,115 563 233 195 192 289 332 Private creditors 704 611 1,591 1,850 1,791 1,864 2,174 1,808 of which: Bonds 609 572 1,542 1,710 1,669 1,685 1,900 1,660 Commercial banks 41 3 23 119 102 161 257 133 Private nonguaranteed 304 214 236 525 1,231 1,325 1,521 1,904 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 206 211 758 822 985 458 541 897 Public and publicly guaranteed 201 201 749 269 75 142 49 231 Official creditors 170 200 249 193 75 92 49 231 Multilateral 89 183 130 192 69 77 33 167 of which: IBRD 5 16 6 8 5 5 1 4 IDA 0 0 0 0 0 0 0 0 Bilateral 81 18 118 0 6 15 16 63 Private creditors 31 0 500 76 0 50 0 0 of which: Bonds 0 0 500 60 0 50 0 0 Commercial banks 30 0 0 16 0 0 0 0 Private nonguaranteed 5 10 9 554 910 316 492 666 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 272 357 388 692 569 497 554 1,091 Public and publicly guaranteed 266 333 371 488 364 275 258 808 Official creditors 95 323 334 206 306 229 216 442 Multilateral 79 176 154 169 275 212 190 401 of which: IBRD 45 55 33 17 17 11 9 8 IDA 0 0 0 0 0 0 0 0 Bilateral 16 147 180 38 30 17 26 41 Private creditors 171 10 37 282 59 45 42 366 of which: Bonds 42 4 30 261 41 34 35 240 Commercial banks 124 2 4 20 17 11 7 123 Private nonguaranteed 6 24 17 204 204 222 296 283 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 172 225 206 154 179 176 206 364 Public and publicly guaranteed 170 204 190 123 105 95 114 237 Official creditors 105 163 104 68 63 53 41 69 Multilateral 77 95 84 62 57 50 39 59 of which: IBRD 33 27 12 4 3 3 3 3 IDA 0 0 0 0 0 0 0 0 Bilateral 28 67 20 6 5 3 2 10 Private creditors 65 42 86 55 43 42 73 168 of which: Bonds 24 37 80 48 39 37 68 152 Commercial banks 36 0 2 5 3 5 4 14 Private nonguaranteed 2 21 16 32 74 80 92 126 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -837 -110 489 110 774 507 1,348 470 Net flows on external debt -111 -148 549 190 841 219 867 437 Cross-currency valuation 52 24 -28 28 -38 146 26 37 9. Debt restructurings Total amount rescheduled 641 0 0 0 0 0 0 0 Total amount forgiven 855 3 0 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 204 188 180 177 198 172 164 123 Interest 63 59 54 48 42 35 29 23 Private creditors Principal 740 320 563 477 444 459 128 155 Interest 224 191 163 139 97 75 49 41 Notes: Data on long-term private nonguaranteed debt for 2008 are World Bank staff estimates. Short-term debt is based on reports provided by the country. 105 COTE D'IVOIRE 1. Summary external debt data External debt stocks 17,251 18,899 12,138 13,200 11,912 12,764 13,865 12,561 Long-term external debt 13,223 14,562 10,546 12,092 10,866 11,605 12,237 11,028 Public and publicly guaranteed 10,665 11,902 9,063 11,082 9,965 10,823 11,646 10,615 Private nonguaranteed 2,558 2,660 1,482 1,010 900 782 591 414 Use of IMF credit 431 427 549 311 198 150 173 188 Short-term external debt 3,597 3,910 1,043 796 848 1,010 1,455 1,344 interest arrears on long-term 819 1,020 79 689 848 1,010 1,455 1,344 Memorandum items 1,727 2,686 169 1,247 1,499 2,033 2,497 2,218 10,663 11,901 9,063 11,082 9,965 10,823 11,646 10,615 2,560 2,661 1,482 1,010 900 782 591 414 764 716 72 51 40 58 162 0 External debt flows Disbursements 1,172 924 148 64 55 116 140 110 Long-term external debt 1,019 743 148 64 55 116 77 46 IMF purchases 153 181 0 0 0 0 62 64 Principal repayments 621 625 481 334 255 217 345 825 Long-term external debt 498 539 442 207 164 160 298 781 IMF repurchases 123 86 39 127 91 57 47 44 Net flows 1,189 935 -617 -720 -308 -101 -206 -715 Long-term external debt 521 204 -294 -143 -109 -44 -221 -735 Short-term external debt 639 636 -283 -450 -108 0 0 0 Interest payments 641 421 539 56 50 50 84 221 Long-term external debt 443 390 462 45 46 49 82 216 IMF charges 31 8 3 2 1 1 1 5 Short-term external debt 167 23 74 10 3 0 0 0 2. Other non-debt resource flows Foreign direct investment (net) 48 211 235 283 312 319 427 402 Portfolio equity flows 0 1 1 -5 14 2 2 79 Profit remittances on FDI 75 204 284 364 370 478 531 0 Grants (excluding technical coop.) 287 454 238 223 158 199 239 728 of which: Debt forgiveness grants .. .. 104 119 56 46 41 39 IDA grants .. .. .. 0 0 0 0 339 Memo: technical coop. grants 129 123 72 77 67 130 60 59 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 53.9 51.9 53.4 55.6 56.3 Japanese yen 0.9 1.4 1.4 1.3 1.3 1.2 1.1 1.6 Pound sterling 1.3 0.9 0.6 0.4 0.4 0.4 0.4 0.3 Swiss franc 2.3 0.5 0.2 0.2 0.2 0.2 0.2 0.2 U.S.dollars 15.5 22.0 53.7 35.6 37.7 35.9 34.1 33.0 4. Average terms of new commitments Official creditors Interest (%) 5.9 1.9 0.8 1.1 1.7 0.2 4.8 0.0 Maturity (years) 20.0 29.8 46.2 23.8 20.0 7.8 14.9 0.0 Grace period (years) 6.3 8.5 9.6 6.8 5.7 1.7 4.4 0.0 Private creditors Interest (%) 0.0 14.5 0.0 0.0 0.0 0.0 0.5 0.0 Maturity (years) 0.0 19.6 0.0 0.0 0.0 0.0 11.7 0.0 Grace period (years) 0.0 0.1 0.0 0.0 0.0 0.0 3.7 0.0 5. Major economic aggregates Gross national income (GNI) 9,209 10,013 9,715 14,763 15,643 16,590 18,913 22,442 Exports of goods, services & income 3,561 4,526 4,512 7,873 8,726 9,520 9,822 11,338 Worker remit. & comp. of employees 44 151 119 159 163 167 185 195 Imports of goods & services 4,594 4,782 4,423 7,165 8,222 8,508 9,616 10,505 International reserves 21 529 668 1,694 1,322 1,798 2,519 2,252 Current account balance -1,214 -492 -241 241 40 479 -139 488 6. Ratios External debt stocks to exports (%) 484.5 417.5 269.0 167.7 136.5 134.1 141.2 110.8 External debt stocks to GNI (%) 187.3 188.7 124.9 89.4 76.2 76.9 73.3 56.0 Debt service to exports (%) 35.4 23.1 22.6 5.0 3.5 2.8 4.4 9.2 Short-term to external debt stocks (%) 20.8 20.7 8.6 6.0 7.1 7.9 10.5 10.7 Multilateral to external debt stocks (%) 20.8 20.6 24.4 25.8 25.9 26.1 25.0 23.0 Reserves to external debt stocks (%) 0.1 2.8 5.5 12.8 11.1 14.1 18.2 17.9 Reserves to imports (months) 0.1 1.3 1.8 2.8 1.9 2.5 3.1 2.6 106 COTE D'IVOIRE 7. Long-term external debt Debt outstanding and disbursed 13,223 14,562 10,546 12,092 10,866 11,605 12,237 11,028 Public and publicly guaranteed 10,665 11,902 9,063 11,082 9,965 10,823 11,646 10,615 Official creditors 7,686 9,217 6,669 8,594 7,673 8,384 9,062 8,116 Multilateral 3,585 3,900 2,958 3,404 3,087 3,330 3,471 2,892 of which: IBRD 1,913 1,573 599 479 423 456 479 117 IDA 7 813 1,366 1,904 1,763 1,847 1,909 1,797 Bilateral 4,101 5,317 3,711 5,190 4,586 5,054 5,591 5,224 Private creditors 2,980 2,685 2,394 2,488 2,292 2,439 2,584 2,499 of which: Bonds 0 0 2,343 0 0 0 0 0 Commercial banks 2,640 2,630 14 2,488 2,292 2,439 2,584 2,499 Private nonguaranteed 2,558 2,660 1,482 1,010 900 782 591 414 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,019 743 148 64 55 116 77 46 Public and publicly guaranteed 769 670 148 64 21 88 57 27 Official creditors 758 669 148 63 21 88 57 27 Multilateral 460 340 148 51 11 71 35 24 of which: IBRD 261 19 0 0 0 0 0 0 IDA 0 226 76 38 0 0 0 13 Bilateral 298 329 0 13 10 17 22 3 Private creditors 11 1 0 1 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2 1 0 1 0 0 0 0 Private nonguaranteed 250 73 0 0 34 28 20 19 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 498 539 442 207 164 160 298 781 Public and publicly guaranteed 319 514 329 73 21 14 112 585 Official creditors 247 479 283 73 21 13 112 585 Multilateral 230 286 143 73 20 12 106 584 of which: IBRD 125 199 57 38 0 0 30 377 IDA 0 0 0 5 0 0 16 117 Bilateral 16 193 140 0 0 1 6 1 Private creditors 72 36 46 0 0 0 0 0 of which: Bonds 1 0 46 0 0 0 0 0 Commercial banks 25 5 0 0 0 0 0 0 Private nonguaranteed 179 25 113 134 143 146 187 196 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 443 390 462 45 46 49 82 216 Public and publicly guaranteed 205 257 342 21 3 2 41 183 Official creditors 187 252 189 21 3 2 41 183 Multilateral 176 172 78 21 3 2 41 183 of which: IBRD 141 135 32 11 0 0 10 83 IDA 0 5 8 6 0 0 8 61 Bilateral 12 81 111 0 0 0 1 1 Private creditors 18 5 153 0 0 0 0 0 of which: Bonds 0 0 153 0 0 0 0 0 Commercial banks 7 1 0 0 0 0 0 0 Private nonguaranteed 237 133 120 23 43 47 41 33 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 2,430 1,503 -1,032 1,024 -1,287 852 1,101 -1,305 Net flows on external debt 1,189 935 -617 -720 -308 -101 -206 -715 Cross-currency valuation 829 17 -468 396 -1,089 747 860 -373 9. Debt restructurings Total amount rescheduled 930 381 72 0 0 0 0 0 Total amount forgiven 50 322 29 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 568 422 388 351 313 310 306 306 Interest 198 177 163 149 137 127 117 107 Private creditors Principal 323 311 281 269 258 251 245 245 Interest 86 69 55 44 35 27 20 13 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates. Country has no short-term debt since 2005. 107 DJIBOUTI 1. Summary external debt data External debt stocks 155.3 272.4 258.2 419.8 406.8 451.8 656.9 685.0 Long-term external debt 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 Public and publicly guaranteed 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 13.4 21.2 18.7 18.0 16.1 17.4 Short-term external debt 0.1 3.5 6.5 9.1 9.2 10.2 5.9 0.7 interest arrears on long-term 0.1 3.5 6.5 9.1 9.2 10.2 5.9 0.7 Memorandum items 1.2 13.1 22.7 20.3 22.2 26.8 40.4 2.2 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.2 0.0 48.6 60.2 68.6 41.1 22.7 21.2 External debt flows Disbursements 27.0 18.4 11.3 27.1 26.5 44.5 39.0 52.0 Long-term external debt 27.0 18.4 7.7 27.1 26.5 44.5 39.0 45.9 IMF purchases 0.0 0.0 3.6 0.0 0.0 0.0 0.0 6.1 Principal repayments 8.9 9.2 10.7 13.5 11.9 16.1 16.0 18.9 Long-term external debt 8.9 9.2 8.4 13.3 11.0 14.5 13.2 14.6 IMF repurchases 0.0 0.0 2.3 0.2 0.8 1.6 2.8 4.3 Net flows 18.0 9.2 0.7 13.7 14.7 28.4 23.0 33.1 Long-term external debt 18.0 9.2 -0.7 13.8 15.5 30.0 25.8 31.4 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.1 2.0 2.6 4.4 3.8 5.0 6.6 7.3 Long-term external debt 2.1 2.0 2.2 4.3 3.7 4.9 6.5 7.2 IMF charges 0.0 0.0 0.4 0.1 0.1 0.1 0.1 0.1 Short-term external debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) 0.0 3.2 3.3 38.5 22.2 108.3 195.4 253.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 4.6 4.2 6.0 5.9 5.9 4.2 5.0 Grants (excluding technical coop.) 130.7 48.8 27.9 30.6 41.4 65.0 82.8 80.3 of which: Debt forgiveness grants .. .. 0.7 0.1 0.1 0.1 0.1 0.1 IDA grants .. .. .. 2.6 4.6 4.7 2.7 2.5 Memo: technical coop. grants 43.8 45.7 23.6 29.2 31.6 42.0 19.9 14.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 15.2 13.1 13.4 31.9 30.4 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 13.9 12.4 16.2 33.2 34.2 34.0 26.6 25.9 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 2.3 2.3 1.3 1.8 3.9 2.2 Maturity (years) 39.7 0.0 29.9 30.7 38.0 10.9 24.8 23.1 Grace period (years) 10.2 0.0 6.9 6.7 9.0 6.5 5.8 4.5 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 515.0 567.0 731.1 775.8 834.4 893.0 950.8 Exports of goods, services & income .. 221.8 219.2 287.0 322.8 345.1 345.3 413.8 Worker remit. & comp. of employees .. 12.0 .. 24.7 25.9 28.5 28.6 30.3 Imports of goods & services .. 263.5 287.1 349.3 372.3 436.8 592.3 714.8 International reserves 93.6 72.2 67.8 93.9 89.3 120.3 132.1 .. Current account balance .. 17.5 -19.0 3.2 20.1 -16.6 -171.4 -225.4 6. Ratios External debt stocks to exports (%) .. 122.9 117.8 146.3 126.0 130.9 190.2 165.5 External debt stocks to GNI (%) .. 52.9 45.5 57.4 52.4 54.1 73.6 72.0 Debt service to exports (%) .. 5.0 6.1 6.2 4.8 6.1 6.5 6.3 Short-term to external debt stocks (%) 0.0 1.3 2.5 2.2 2.3 2.3 0.9 0.1 Multilateral to external debt stocks (%) 55.4 50.1 53.6 65.7 66.0 67.7 52.8 53.0 Reserves to external debt stocks (%) 60.3 26.5 26.3 22.4 21.9 26.6 20.1 .. Reserves to imports (months) .. 3.3 2.8 3.2 2.9 3.3 2.7 .. 108 DJIBOUTI 7. Long-term external debt Debt outstanding and disbursed 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 Public and publicly guaranteed 155.2 268.9 238.3 389.5 378.9 423.6 634.9 666.8 Official creditors 155.2 268.9 238.3 384.0 373.3 418.0 622.6 654.5 Multilateral 86.1 136.4 138.3 275.8 268.7 305.7 347.0 362.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 31.1 46.2 49.9 126.4 120.3 133.3 147.2 151.6 Bilateral 69.2 132.5 100.0 108.2 104.6 112.3 275.6 291.7 Private creditors 0.0 0.0 0.0 5.6 5.6 5.6 12.3 12.4 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 5.6 5.6 5.6 12.3 12.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 27.0 18.4 7.7 27.1 26.5 44.5 39.0 45.9 Public and publicly guaranteed 27.0 18.4 7.7 27.1 26.5 44.5 39.0 45.9 Official creditors 27.0 18.4 7.7 27.1 26.5 44.5 39.0 45.9 Multilateral 8.9 10.0 7.7 26.0 16.2 34.2 29.6 24.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.5 2.8 3.9 9.8 4.7 8.2 9.7 7.2 Bilateral 18.0 8.4 0.0 1.2 10.3 10.4 9.4 21.9 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 8.9 9.2 8.4 13.3 11.0 14.5 13.2 14.6 Public and publicly guaranteed 8.9 9.2 8.4 13.3 11.0 14.5 13.2 14.6 Official creditors 8.3 9.2 8.4 13.3 11.0 14.5 13.2 14.6 Multilateral 3.5 4.4 4.0 5.3 5.1 8.2 7.9 8.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.3 0.5 1.2 1.4 1.2 1.8 1.6 Bilateral 4.8 4.8 4.4 8.0 6.0 6.3 5.3 5.9 Private creditors 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.1 2.0 2.2 4.3 3.7 4.9 6.5 7.2 Public and publicly guaranteed 2.1 2.0 2.2 4.3 3.7 4.9 6.5 7.2 Official creditors 2.1 2.0 2.2 4.3 3.7 4.9 6.5 7.2 Multilateral 1.3 0.9 1.4 2.8 2.7 3.9 4.6 5.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.2 0.3 0.4 1.1 1.0 0.8 1.1 1.3 Bilateral 0.8 1.1 0.8 1.6 1.0 1.1 1.9 2.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 24.0 14.8 -9.6 29.5 -13.0 45.0 205.1 28.1 Net flows on external debt 18.0 9.2 0.7 13.7 14.7 28.4 23.0 33.1 Cross-currency valuation 3.0 1.8 -6.5 10.6 -18.9 12.1 18.9 -7.4 9. Debt restructurings Total amount rescheduled 0.0 0.0 2.1 0.0 0.0 0.0 0.0 56.9 Total amount forgiven 0.0 0.0 0.0 0.0 0.6 2.1 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 26.9 28.8 30.4 48.6 27.8 25.9 26.3 29.4 Interest 7.9 8.4 8.6 9.5 8.7 8.3 7.9 7.4 Private creditors Principal 2.5 2.5 2.5 2.5 0.1 0.1 0.1 0.1 Interest 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1 Notes: Data on long-term public and publicly guaranteed debt include the effects of Paris Club debt restructuring agreement signed in 2008. 109 DOMINICA 1. Summary external debt data External debt stocks 88.0 103.3 164.8 304.4 273.7 253.5 289.6 303.2 Long-term external debt 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 Public and publicly guaranteed 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 5.7 1.7 0.0 9.2 11.6 14.0 12.1 15.0 Short-term external debt 2.0 6.7 19.0 70.1 40.6 22.0 63.0 83.1 interest arrears on long-term 0.0 0.2 0.0 3.1 8.6 11.0 14.0 17.1 Memorandum items 0.2 1.8 0.3 3.1 6.5 6.0 11.2 10.3 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.4 5.1 57.3 13.5 25.8 0.0 6.0 2.4 External debt flows Disbursements 11.5 9.5 56.2 30.1 8.0 6.5 4.9 6.8 Long-term external debt 11.5 9.5 56.2 29.2 4.5 3.1 4.9 3.5 IMF purchases 0.0 0.0 0.0 0.9 3.5 3.4 0.0 3.2 Principal repayments 3.8 4.4 6.7 7.6 10.0 11.0 12.7 12.1 Long-term external debt 2.5 3.6 6.7 7.6 9.6 9.4 10.3 12.1 IMF repurchases 1.4 0.9 0.0 0.0 0.4 1.6 2.5 0.0 Net flows 7.8 4.6 49.7 19.5 -37.0 -25.5 30.1 11.7 Long-term external debt 9.0 5.9 49.5 21.6 -5.2 -6.3 -5.4 -8.6 Short-term external debt 0.1 -0.5 0.2 -3.0 -35.0 -21.0 38.0 17.0 Interest payments 2.0 2.4 4.1 8.8 6.2 6.8 6.6 6.2 Long-term external debt 1.6 2.0 3.0 6.6 4.6 5.5 4.9 4.3 IMF charges 0.2 0.0 0.0 0.1 0.2 0.2 0.1 0.2 Short-term external debt 0.2 0.4 1.1 2.1 1.5 1.1 1.6 1.7 2. Other non-debt resource flows Foreign direct investment (net) 12.9 54.1 17.6 26.2 19.2 25.9 53.2 52.1 Portfolio equity flows -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 5.4 12.2 33.0 21.8 22.7 7.4 9.7 10.1 Grants (excluding technical coop.) 3.1 24.6 5.0 17.7 6.2 16.6 19.8 21.5 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 1.0 1.1 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 2.9 3.6 3.3 2.4 2.8 1.4 2.0 2.4 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.0 5.4 3.9 3.4 2.7 Japanese yen 0.3 1.1 0.4 0.0 0.0 0.0 0.0 0.0 Pound sterling 16.5 13.3 2.8 0.1 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 51.7 60.8 81.1 85.1 86.0 87.3 86.8 86.9 4. Average terms of new commitments Official creditors Interest (%) 3.0 2.6 5.2 0.8 2.4 0.0 0.8 0.8 Maturity (years) 25.2 26.4 21.3 34.7 21.9 0.0 34.5 34.4 Grace period (years) 8.5 8.8 6.9 10.2 7.6 0.0 10.0 9.9 Private creditors Interest (%) 0.0 0.0 1.9 3.5 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 9.2 28.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 2.3 15.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 161.4 210.7 231.9 253.5 274.3 282.5 325.0 347.6 Exports of goods, services & income 102.8 121.6 162.1 152.7 155.7 171.6 167.5 .. Worker remit. & comp. of employees 14.0 3.0 3.0 23.2 25.0 25.4 26.0 30.0 Imports of goods & services 142.9 158.9 227.1 211.3 231.0 221.8 255.8 .. International reserves 14.5 22.1 29.4 42.3 49.2 63.0 60.5 55.2 Current account balance -43.5 -40.2 -59.8 -60.2 -76.1 -51.6 -89.7 .. 6. Ratios External debt stocks to exports (%) 85.5 85.0 101.7 199.3 175.8 147.7 172.9 .. External debt stocks to GNI (%) 54.5 49.0 71.1 120.1 99.8 89.7 89.1 87.2 Debt service to exports (%) 5.6 5.6 6.7 10.8 10.4 10.4 11.5 .. Short-term to external debt stocks (%) 2.3 6.5 11.5 23.0 14.8 8.7 21.8 27.4 Multilateral to external debt stocks (%) 65.7 59.6 49.5 41.2 44.1 45.9 40.1 36.6 Reserves to external debt stocks (%) 16.4 21.4 17.8 13.9 18.0 24.9 20.9 18.2 Reserves to imports (months) 1.2 1.7 1.6 2.4 2.6 3.4 2.8 .. 110 DOMINICA 7. Long-term external debt Debt outstanding and disbursed 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 Public and publicly guaranteed 80.2 94.9 145.8 225.1 221.6 217.5 214.4 205.1 Official creditors 80.2 94.9 114.2 165.4 161.6 157.4 154.3 145.1 Multilateral 57.8 61.6 81.6 125.3 120.6 116.3 116.2 111.0 of which: IBRD 0.0 0.0 2.4 4.1 3.9 3.3 2.5 1.8 IDA 10.4 12.2 13.6 23.2 21.7 22.5 25.4 26.5 Bilateral 22.4 33.3 32.7 40.1 40.9 41.2 38.1 34.1 Private creditors 0.1 0.0 31.6 59.6 60.0 60.0 60.0 60.0 of which: Bonds 0.0 0.0 31.6 36.6 36.6 36.6 36.6 36.6 Commercial banks 0.1 0.0 0.0 20.5 21.0 21.0 21.0 21.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 11.5 9.5 56.2 29.2 4.5 3.1 4.9 3.5 Public and publicly guaranteed 11.5 9.5 56.2 29.2 4.5 3.1 4.9 3.5 Official creditors 11.5 9.5 25.7 18.7 4.5 3.1 4.9 3.5 Multilateral 8.3 3.5 19.3 18.2 3.9 2.6 4.7 3.5 of which: IBRD 0.0 0.0 0.7 0.4 0.3 0.0 0.0 0.0 IDA 0.9 0.1 -0.1 4.3 0.5 0.1 2.3 1.8 Bilateral 3.2 6.0 6.3 0.5 0.6 0.5 0.1 0.0 Private creditors 0.0 0.0 30.5 10.5 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 30.5 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 10.5 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.5 3.6 6.7 7.6 9.6 9.4 10.3 12.1 Public and publicly guaranteed 2.5 3.6 6.7 7.6 9.6 9.4 10.3 12.1 Official creditors 2.4 3.6 6.7 7.6 9.6 9.4 10.3 12.1 Multilateral 2.1 2.0 3.7 6.0 7.8 7.8 6.6 8.2 of which: IBRD 0.0 0.0 0.0 0.4 0.4 0.6 0.8 0.8 IDA 0.0 0.1 0.1 0.2 0.3 0.3 0.4 0.5 Bilateral 0.3 1.6 3.0 1.6 1.8 1.6 3.7 4.0 Private creditors 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.6 2.0 3.0 6.6 4.6 5.5 4.9 4.3 Public and publicly guaranteed 1.6 2.0 3.0 6.6 4.6 5.5 4.9 4.3 Official creditors 1.6 2.0 2.9 3.6 4.1 4.7 4.2 3.8 Multilateral 1.4 1.5 1.9 2.4 3.1 3.1 3.0 2.6 of which: IBRD 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.1 IDA 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 Bilateral 0.2 0.4 1.0 1.2 1.0 1.6 1.2 1.2 Private creditors 0.0 0.0 0.1 3.1 0.5 0.8 0.7 0.5 of which: Bonds 0.0 0.0 0.1 3.1 0.1 0.1 0.1 0.1 Commercial banks 0.0 0.0 0.0 0.0 0.4 0.8 0.6 0.4 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 10.4 5.2 49.3 18.3 -30.7 -20.3 36.1 13.6 Net flows on external debt 7.8 4.6 49.7 19.5 -37.0 -25.5 30.1 11.7 Cross-currency valuation 4.7 1.2 -2.6 2.9 -5.0 3.4 3.3 -1.1 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 17.8 14.6 11.5 0.0 0.0 Total amount forgiven 3.3 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 20.6 9.1 8.9 7.9 8.7 8.5 8.6 8.3 Interest 3.2 2.9 2.9 2.8 2.7 2.5 2.3 2.1 Private creditors Principal 5.6 0.4 0.0 0.0 0.0 30.6 0.0 0.0 Interest 3.6 3.4 3.4 3.4 3.4 3.4 0.6 0.6 111 DOMINICAN REPUBLIC 1. Summary external debt data External debt stocks 4,372 4,447 4,541 7,291 7,387 8,796 10,431 10,484 Long-term external debt 3,518 3,672 3,311 6,142 6,086 6,877 7,407 7,989 Public and publicly guaranteed 3,419 3,653 3,311 6,142 6,084 6,463 6,562 7,146 Private nonguaranteed 99 19 0 0 2 414 845 843 Use of IMF credit 72 160 52 204 400 459 548 492 Short-term external debt 782 616 1,178 945 901 1,460 2,476 2,003 interest arrears on long-term 506 214 28 28 20 9 9 3 Memorandum items 614 320 56 78 145 33 14 16 3,391 3,626 3,299 6,133 6,076 6,457 6,557 7,141 127 46 13 9 9 420 851 848 204 167 445 468 811 1,304 343 910 External debt flows Disbursements 138 195 303 1,149 1,094 1,709 1,452 1,419 Long-term external debt 138 195 303 1,084 874 1,568 1,275 1,297 IMF purchases 0 0 0 65 220 142 177 122 Principal repayments 146 234 257 474 810 1,094 899 876 Long-term external debt 88 200 257 474 810 989 785 711 IMF repurchases 58 34 0 0 0 105 114 164 Net flows 15 105 311 551 248 1,185 1,568 76 Long-term external debt 50 -5 46 610 65 578 490 586 Short-term external debt 23 143 265 -124 -36 570 1,016 -467 Interest payments 86 175 263 330 255 348 467 561 Long-term external debt 59 145 211 286 219 283 341 457 IMF charges 9 10 3 5 9 22 26 24 Short-term external debt 19 20 50 39 27 42 100 80 2. Other non-debt resource flows Foreign direct investment (net) 133 414 953 909 1,123 1,528 1,579 2,885 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 90 624 1,068 1,652 1,765 1,932 2,106 1,722 Grants (excluding technical coop.) 29 41 44 64 76 83 192 169 of which: Debt forgiveness grants .. .. 0 0 0 1 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 44 51 57 59 64 69 37 47 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.6 2.0 2.6 5.1 6.7 Japanese yen 6.4 7.7 5.0 3.2 2.7 2.0 1.8 1.9 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 68.4 63.7 73.8 86.1 88.2 89.2 87.4 86.7 4. Average terms of new commitments Official creditors Interest (%) 5.8 6.6 6.8 3.5 1.7 4.2 3.7 2.2 Maturity (years) 24.9 20.2 12.8 12.7 21.5 21.1 21.2 23.8 Grace period (years) 6.4 5.2 1.3 4.3 4.1 4.6 4.1 3.5 Private creditors Interest (%) 9.8 8.4 6.5 0.0 3.2 6.4 6.5 6.0 Maturity (years) 9.1 9.5 10.3 0.0 3.9 14.0 9.2 7.1 Grace period (years) 4.6 2.0 2.7 0.0 1.2 8.7 2.2 2.6 5. Major economic aggregates Gross national income (GNI) 6,759 15,589 22,955 20,215 32,102 34,100 39,236 43,975 Exports of goods, services & income 2,233 6,653 10,953 11,992 12,928 14,615 15,817 .. Worker remit. & comp. of employees 315 839 1,839 2,501 2,719 3,084 3,414 3,487 Imports of goods & services 2,568 7,034 12,193 11,248 13,668 16,309 18,261 .. International reserves 69 373 632 806 1,853 2,127 2,562 2,288 Current account balance -280 -183 -1,027 1,041 -473 -1,288 -2,068 .. 6. Ratios External debt stocks to exports (%) 195.8 66.8 41.5 60.8 57.1 60.2 66.0 .. External debt stocks to GNI (%) 64.7 28.5 19.8 36.1 23.0 25.8 26.6 23.8 Debt service to exports (%) 10.4 6.1 4.8 6.7 8.2 9.9 8.6 .. Short-term to external debt stocks (%) 17.9 13.8 25.9 13.0 12.2 16.6 23.7 19.1 Multilateral to external debt stocks (%) 19.6 23.2 24.9 23.9 24.5 21.6 18.1 18.0 Reserves to external debt stocks (%) 1.6 8.4 13.9 11.1 25.1 24.2 24.6 21.8 Reserves to imports (months) 0.3 0.6 0.6 0.9 1.6 1.6 1.7 .. 112 DOMINICAN REPUBLIC 7. Long-term external debt Debt outstanding and disbursed 3,518 3,672 3,311 6,142 6,086 6,877 7,407 7,989 Public and publicly guaranteed 3,419 3,653 3,311 6,142 6,084 6,463 6,562 7,146 Official creditors 2,383 2,996 2,565 3,068 3,261 3,580 3,705 4,422 Multilateral 858 1,033 1,132 1,744 1,807 1,901 1,886 1,883 of which: IBRD 238 282 292 379 405 438 472 449 IDA 20 17 14 11 11 10 9 9 Bilateral 1,525 1,962 1,433 1,324 1,454 1,679 1,819 2,538 Private creditors 1,036 657 746 3,074 2,823 2,884 2,858 2,724 of which: Bonds 0 520 506 1,527 1,134 1,414 1,394 1,374 Commercial banks 775 33 121 941 1,105 1,211 1,250 1,183 Private nonguaranteed 99 19 0 0 2 414 845 843 of which: Bonds 0 0 0 0 0 412 844 843 Disbursements 138 195 303 1,084 874 1,568 1,275 1,297 Public and publicly guaranteed 138 195 303 1,084 873 1,156 844 1,297 Official creditors 136 187 147 555 468 596 466 1,011 Multilateral 84 157 100 324 199 187 184 213 of which: IBRD 39 36 39 66 64 67 73 20 IDA 0 0 0 0 0 0 0 0 Bilateral 53 30 46 231 270 408 283 798 Private creditors 2 8 156 529 405 560 378 286 of which: Bonds 0 0 0 0 0 300 0 0 Commercial banks 0 8 90 396 308 224 362 283 Private nonguaranteed 0 0 0 0 2 412 431 0 of which: Bonds 0 0 0 0 0 412 431 0 Principal repayments 88 200 257 474 810 989 785 711 Public and publicly guaranteed 83 184 257 474 810 989 785 711 Official creditors 83 161 217 172 171 381 368 316 Multilateral 38 79 63 105 110 113 215 215 of which: IBRD 19 40 21 37 38 34 39 43 IDA 0 1 1 1 1 1 1 1 Bilateral 44 82 154 67 61 269 152 101 Private creditors 0 23 40 302 639 608 418 395 of which: Bonds 0 0 4 20 336 20 20 20 Commercial banks 0 3 18 163 208 224 341 326 Private nonguaranteed 5 16 0 0 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 59 145 211 286 219 283 341 457 Public and publicly guaranteed 56 143 211 286 219 282 285 349 Official creditors 55 120 158 91 108 140 146 137 Multilateral 32 51 58 77 82 90 98 87 of which: IBRD 14 20 22 21 21 23 25 24 IDA 0 0 0 0 0 0 0 0 Bilateral 23 69 100 14 26 51 48 50 Private creditors 1 23 53 196 111 141 139 212 of which: Bonds 0 13 38 111 15 63 61 129 Commercial banks 0 3 7 32 44 62 66 71 Private nonguaranteed 3 2 0 0 0 2 57 108 of which: Bonds 0 0 0 0 0 2 57 108 8. Debt stock-flow reconciliation Total change in external debt stocks 334 173 -145 652 96 1,408 1,635 53 Net flows on external debt 15 105 311 551 248 1,185 1,568 76 Cross-currency valuation 52 18 -51 10 98 214 55 8 9. Debt restructurings Total amount rescheduled 7 2 0 234 1,209 203 0 0 Total amount forgiven 7 0 1 0 0 0 0 0 Debt buyback 0 0 0 0 316 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 484 434 394 403 390 387 360 335 Interest 123 114 105 94 84 74 64 54 Private creditors Principal 436 266 659 601 394 111 71 73 Interest 276 264 257 173 121 105 102 98 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2005. Long-term private nonguaranteed debt data only cover Inter-American Development Bank and Bonds. 113 ECUADOR 1. Summary external debt data External debt stocks 12,107 13,877 13,244 16,944 16,877 16,889 17,369 16,851 Long-term external debt 10,029 12,391 12,299 14,790 15,081 14,877 15,474 15,187 Public and publicly guaranteed 9,865 11,951 10,864 10,355 10,411 9,896 10,290 9,595 Private nonguaranteed 164 440 1,435 4,435 4,670 4,981 5,184 5,592 Use of IMF credit 265 173 148 290 78 23 0 0 Short-term external debt 1,814 1,312 797 1,864 1,719 1,990 1,894 1,664 interest arrears on long-term 1,522 12 3 0 0 0 0 31 Memorandum items 1,096 10 6 5 5 0 0 1 9,865 11,951 10,864 10,355 10,411 9,896 10,286 9,578 164 440 1,435 4,435 4,670 4,981 5,188 5,609 642 1,162 404 269 1,221 1,303 1,281 17 External debt flows Disbursements 638 1,028 1,125 2,732 3,135 2,623 2,987 1,671 Long-term external debt 606 1,028 976 2,732 3,135 2,623 2,987 1,671 IMF purchases 32 0 150 0 0 0 0 0 Principal repayments 610 750 1,065 2,514 3,185 2,880 2,312 1,641 Long-term external debt 495 721 1,065 2,402 2,990 2,821 2,289 1,641 IMF repurchases 115 29 0 112 195 58 23 0 Net flows 0 -173 -194 309 -195 15 580 -231 Long-term external debt 110 307 -89 329 145 -198 698 30 Short-term external debt -28 -451 -254 92 -145 271 -95 -261 Interest payments 474 656 813 1,174 948 1,261 1,314 996 Long-term external debt 416 565 708 977 833 1,166 1,216 912 IMF charges 30 10 4 9 7 3 1 0 Short-term external debt 28 81 102 187 107 93 97 84 2. Other non-debt resource flows Foreign direct investment (net) 126 452 720 837 493 271 194 993 Portfolio equity flows 0 13 0 1 2 0 0 1 Profit remittances on FDI 125 144 329 964 1,004 977 1,160 787 Grants (excluding technical coop.) 53 71 68 105 179 112 172 180 of which: Debt forgiveness grants .. .. 0 13 0 3 0 12 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 65 110 85 149 157 148 99 129 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.8 3.3 3.3 3.2 2.9 Japanese yen 6.9 4.1 4.5 4.1 2.5 2.5 2.2 1.5 Pound sterling 1.6 0.7 0.4 0.4 0.3 0.3 0.2 0.2 Swiss franc 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 54.5 71.2 83.8 85.8 89.0 89.3 90.2 91.5 4. Average terms of new commitments Official creditors Interest (%) 5.2 6.2 6.9 5.1 6.5 6.7 5.4 3.3 Maturity (years) 22.2 16.4 17.1 12.9 5.7 16.7 20.4 18.7 Grace period (years) 6.0 6.0 5.2 3.6 1.3 4.5 4.2 2.2 Private creditors Interest (%) 8.6 7.9 7.5 4.7 9.3 6.0 0.0 6.3 Maturity (years) 8.7 12.0 9.9 10.1 10.0 10.7 0.0 12.6 Grace period (years) 1.0 2.5 2.5 0.6 9.8 1.9 0.0 3.1 5. Major economic aggregates Gross national income (GNI) 9,145 19,281 14,530 30,740 35,245 39,813 43,742 50,965 Exports of goods, services & income 3,337 5,677 7,293 10,851 14,020 17,317 19,384 .. Worker remit. & comp. of employees 51 386 1,322 1,838 2,460 2,934 3,094 3,200 Imports of goods & services 3,754 6,736 6,403 11,591 13,880 15,878 17,945 .. International reserves 1,009 1,788 1,179 1,440 2,148 2,026 3,521 4,473 Current account balance -360 -1,000 926 -542 347 1,615 1,598 .. 6. Ratios External debt stocks to exports (%) 362.8 244.5 181.6 156.1 120.4 97.5 89.6 .. External debt stocks to GNI (%) 132.4 72.0 91.1 55.1 47.9 42.4 39.7 33.1 Debt service to exports (%) 32.5 24.8 25.8 34.0 29.5 23.9 18.7 .. Short-term to external debt stocks (%) 15.0 9.5 6.0 11.0 10.2 11.8 10.9 9.9 Multilateral to external debt stocks (%) 17.6 21.9 27.7 22.2 21.2 23.4 26.3 24.4 Reserves to external debt stocks (%) 8.3 12.9 8.9 8.5 12.7 12.0 20.3 26.5 Reserves to imports (months) 3.2 3.2 2.2 1.5 1.9 1.5 2.4 .. 114 ECUADOR 7. Long-term external debt Debt outstanding and disbursed 10,029 12,391 12,299 14,790 15,081 14,877 15,474 15,187 Public and publicly guaranteed 9,865 11,951 10,864 10,355 10,411 9,896 10,290 9,595 Official creditors 4,065 5,210 5,871 5,977 5,508 5,727 6,163 5,507 Multilateral 2,127 3,044 3,670 3,764 3,585 3,951 4,560 4,119 of which: IBRD 816 1,082 840 835 799 746 684 612 IDA 32 26 21 16 15 14 13 12 Bilateral 1,938 2,165 2,201 2,214 1,923 1,777 1,603 1,387 Private creditors 5,800 6,742 4,993 4,378 4,902 4,168 4,128 4,088 of which: Bonds 0 5,999 3,950 3,950 4,600 3,860 3,860 3,860 Commercial banks 4,899 385 910 347 241 212 194 163 Private nonguaranteed 164 440 1,435 4,435 4,670 4,981 5,184 5,592 of which: Bonds 0 10 0 0 0 0 0 0 Disbursements 606 1,028 976 2,732 3,135 2,623 2,987 1,671 Public and publicly guaranteed 575 818 595 340 972 913 1,296 298 Official creditors 329 733 524 278 299 830 1,272 288 Multilateral 227 593 446 276 298 826 1,263 284 of which: IBRD 47 319 69 29 39 21 8 5 IDA 0 0 0 0 0 0 0 0 Bilateral 101 141 78 2 1 4 9 5 Private creditors 246 85 71 62 674 83 24 10 of which: Bonds 0 0 0 0 650 0 0 0 Commercial banks 39 57 71 52 24 22 24 10 Private nonguaranteed 30 210 381 2,392 2,162 1,710 1,691 1,373 of which: Bonds 0 10 0 0 0 0 0 0 Principal repayments 495 721 1,065 2,402 2,990 2,821 2,289 1,641 Public and publicly guaranteed 470 711 548 1,111 865 1,529 977 899 Official creditors 276 486 397 603 745 717 912 850 Multilateral 164 235 324 424 408 480 685 724 of which: IBRD 41 98 89 82 74 74 70 77 IDA 1 1 1 1 1 1 1 1 Bilateral 112 252 73 179 336 236 227 126 Private creditors 194 225 151 508 120 813 65 49 of which: Bonds 0 10 0 0 0 740 0 0 Commercial banks 27 59 119 492 101 51 42 41 Private nonguaranteed 25 10 517 1,292 2,124 1,292 1,312 742 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 416 565 708 977 833 1,166 1,216 912 Public and publicly guaranteed 404 563 535 631 648 740 724 642 Official creditors 212 321 295 246 266 308 315 298 Multilateral 140 173 264 167 170 218 233 237 of which: IBRD 62 69 74 31 32 40 42 33 IDA 0 0 0 0 0 0 0 0 Bilateral 72 148 31 79 96 90 83 61 Private creditors 191 242 240 385 383 432 409 345 of which: Bonds 0 147 140 339 367 410 392 331 Commercial banks 134 50 89 42 12 16 10 9 Private nonguaranteed 12 1 172 346 185 426 492 270 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 791 -1,084 -2,750 400 -67 12 479 -518 Net flows on external debt 0 -173 -194 309 -195 15 580 -231 Cross-currency valuation 193 60 -149 95 -172 65 93 41 9. Debt restructurings Total amount rescheduled 249 5,818 4,663 0 0 0 0 0 Total amount forgiven 46 1,180 2,522 0 1 1 4 3 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 512 468 488 502 517 480 419 393 Interest 227 207 187 167 146 125 105 88 Private creditors Principal 1,542 1,096 979 1,096 474 355 941 232 Interest 527 472 423 393 308 290 275 202 Notes: Short-term debt is based on reports provided by Central Bank. 115 EGYPT, ARAB REPUBLIC OF 1. Summary external debt data External debt stocks 32,992 33,475 29,015 31,141 29,655 29,351 32,830 32,616 Long-term external debt 28,414 31,000 24,911 29,172 27,799 27,718 31,380 30,097 Public and publicly guaranteed 27,414 30,687 24,338 27,205 26,696 26,880 29,892 28,518 Private nonguaranteed 1,000 313 573 1,968 1,103 838 1,489 1,579 Use of IMF credit 125 103 0 0 0 0 0 0 Short-term external debt 4,453 2,372 4,104 1,968 1,856 1,633 1,450 2,519 interest arrears on long-term 1,441 4 0 1 2 0 0 0 Memorandum items 3,542 148 14 6 8 0 0 0 27,393 30,684 24,337 27,204 26,661 26,690 29,463 28,132 1,021 316 574 1,969 1,139 1,028 1,917 1,965 1,223 207 917 2,348 3,053 2,472 1,884 2,166 External debt flows Disbursements 1,951 642 575 628 2,727 711 3,077 1,102 Long-term external debt 1,951 642 575 628 2,727 711 3,077 1,102 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 1,750 988 1,100 1,348 1,637 1,714 1,860 2,197 Long-term external debt 1,704 894 1,100 1,348 1,637 1,714 1,860 2,197 IMF repurchases 47 94 0 0 0 0 0 0 Net flows -1,301 92 -714 -617 978 -1,224 1,034 -25 Long-term external debt 248 -251 -525 -720 1,090 -1,003 1,218 -1,095 Short-term external debt -1,502 438 -189 103 -113 -222 -184 1,070 Interest payments 1,322 1,393 733 655 647 773 881 934 Long-term external debt 1,007 1,252 619 625 579 677 799 875 IMF charges 14 9 0 0 0 0 0 0 Short-term external debt 301 132 113 30 68 96 81 60 2. Other non-debt resource flows Foreign direct investment (net) 734 598 1,235 1,253 5,376 10,043 11,578 9,495 Portfolio equity flows 0 0 269 26 729 502 -3,199 -674 Profit remittances on FDI 14 228 92 56 647 915 1,015 680 Grants (excluding technical coop.) 4,201 1,006 964 1,441 825 641 1,246 1,303 of which: Debt forgiveness grants .. .. 241 150 150 153 173 179 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 812 744 472 197 386 420 120 157 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 37.8 32.6 35.1 35.1 33.7 Japanese yen 8.2 13.1 13.8 12.6 11.1 10.7 9.2 11.7 Pound sterling 2.5 1.4 1.2 2.3 2.0 2.2 1.9 1.4 Swiss franc 3.0 2.7 2.1 2.3 1.9 2.0 1.8 1.9 U.S.dollars 41.9 34.5 39.8 32.8 40.3 38.1 38.9 38.3 4. Average terms of new commitments Official creditors Interest (%) 4.7 3.1 4.7 2.5 5.2 4.4 2.2 3.1 Maturity (years) 28.6 22.0 21.8 17.7 18.8 21.4 16.5 20.9 Grace period (years) 7.5 6.6 5.5 5.0 7.6 7.4 6.5 5.6 Private creditors Interest (%) 8.4 6.5 6.8 3.7 4.4 2.2 7.2 0.0 Maturity (years) 11.5 4.3 3.0 7.9 7.6 5.3 6.1 2.0 Grace period (years) 3.4 2.4 2.9 2.5 7.1 3.3 4.9 2.0 5. Major economic aggregates Gross national income (GNI) 42,025 60,038 100,838 78,757 89,474 108,015 131,653 164,215 Exports of goods, services & income 15,035 18,064 21,587 30,429 37,159 44,570 55,363 66,520 Worker remit. & comp. of employees 4,284 3,226 2,852 3,341 5,017 5,330 7,656 8,694 Imports of goods & services 15,969 19,123 23,878 27,733 35,787 42,375 55,618 68,999 International reserves 3,620 17,122 13,785 15,339 21,857 26,007 32,214 34,331 Current account balance 2,327 -254 -971 3,922 2,103 2,635 412 -1,415 6. Ratios External debt stocks to exports (%) 219.4 185.3 134.4 102.3 79.8 65.9 59.3 49.0 External debt stocks to GNI (%) 78.5 55.8 28.8 39.5 33.1 27.2 24.9 19.9 Debt service to exports (%) 20.4 13.2 8.5 6.6 6.1 5.6 4.9 4.7 Short-term to external debt stocks (%) 13.5 7.1 14.1 6.3 6.3 5.6 4.4 7.7 Multilateral to external debt stocks (%) 10.3 12.0 13.5 13.2 15.3 16.8 21.4 21.5 Reserves to external debt stocks (%) 11.0 51.1 47.5 49.3 73.7 88.6 98.1 105.3 Reserves to imports (months) 2.7 10.7 6.9 6.6 7.3 7.4 7.0 6.0 116 EGYPT, ARAB REPUBLIC OF 7. Long-term external debt Debt outstanding and disbursed 28,414 31,000 24,911 29,172 27,799 27,718 31,380 30,097 Public and publicly guaranteed 27,414 30,687 24,338 27,205 26,696 26,880 29,892 28,518 Official creditors 21,165 28,934 23,799 26,324 24,077 24,684 27,029 25,997 Multilateral 3,403 4,022 3,921 4,111 4,527 4,944 7,027 6,999 of which: IBRD 1,480 1,320 639 503 492 544 1,181 1,255 IDA 921 1,035 1,266 1,465 1,420 1,481 1,490 1,444 Bilateral 17,763 24,912 19,878 22,213 19,550 19,740 20,002 18,998 Private creditors 6,249 1,753 540 881 2,619 2,196 2,863 2,522 of which: Bonds 0 0 0 584 1,829 1,576 2,199 2,184 Commercial banks 731 560 317 170 688 520 584 267 Private nonguaranteed 1,000 313 573 1,968 1,103 838 1,489 1,579 of which: Bonds 0 0 100 0 0 0 750 750 Disbursements 1,951 642 575 628 2,727 711 3,077 1,102 Public and publicly guaranteed 1,900 642 368 628 2,727 710 3,065 906 Official creditors 1,198 602 223 487 773 657 2,327 794 Multilateral 269 392 174 413 678 556 2,204 562 of which: IBRD 92 42 6 26 97 108 723 143 IDA 8 83 49 75 69 57 13 11 Bilateral 929 209 50 74 95 100 123 233 Private creditors 703 40 144 141 1,954 54 737 112 of which: Bonds 0 0 0 0 1,250 0 643 0 Commercial banks 175 31 132 139 703 52 83 108 Private nonguaranteed 51 0 207 0 0 1 13 196 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 1,704 894 1,100 1,348 1,637 1,714 1,860 2,197 Public and publicly guaranteed 1,572 832 984 1,248 1,485 1,505 1,747 2,092 Official creditors 884 542 863 1,200 1,293 1,262 1,681 1,655 Multilateral 282 310 298 329 385 300 530 462 of which: IBRD 176 198 87 77 77 66 97 77 IDA 7 14 23 38 41 42 47 50 Bilateral 603 232 564 871 908 962 1,151 1,193 Private creditors 687 290 121 48 192 243 66 437 of which: Bonds 1 0 0 0 0 0 0 0 Commercial banks 34 91 57 39 183 236 28 417 Private nonguaranteed 132 62 116 100 151 209 112 105 of which: Bonds 0 0 0 100 0 0 0 0 Interest payments 1,007 1,252 619 625 579 677 799 875 Public and publicly guaranteed 918 1,228 603 609 572 671 735 758 Official creditors 719 1,121 573 542 509 530 618 648 Multilateral 184 232 147 100 105 132 184 214 of which: IBRD 138 114 41 22 21 27 47 58 IDA 7 7 9 12 11 11 11 11 Bilateral 535 889 425 442 404 399 434 434 Private creditors 199 106 31 67 63 140 117 110 of which: Bonds 0 0 0 61 51 106 84 85 Commercial banks 48 44 16 3 9 32 31 22 Private nonguaranteed 89 24 16 16 7 7 64 117 of which: Bonds 0 0 12 12 0 0 59 59 8. Debt stock-flow reconciliation Total change in external debt stocks -12,667 976 -1,869 1,925 -1,485 -304 3,479 -214 Net flows on external debt -1,301 92 -714 -617 978 -1,224 1,034 -25 Cross-currency valuation 1,460 795 -899 1,083 -2,109 1,192 1,521 -118 9. Debt restructurings Total amount rescheduled 0 309 22 1 1 0 1 0 Total amount forgiven 13,057 54 25 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 2,374 2,585 2,704 3,322 3,003 2,681 2,503 2,349 Interest 667 636 580 528 469 405 343 289 Private creditors Principal 305 551 975 764 56 256 1,295 44 Interest 336 313 243 191 130 96 63 5 Notes: Short-term debt is based on the Central Bank data from 2001. Data on long-term private nonguaranteed debt for 2008 are based on reports provided by the country. 117 EL SALVADOR 1. Summary external debt data External debt stocks 2,145 2,509 4,467 8,517 8,984 9,842 9,513 10,110 Long-term external debt 1,935 1,984 2,822 6,737 7,409 8,878 8,512 9,058 Public and publicly guaranteed 1,909 1,979 2,710 4,975 4,786 5,589 5,432 5,742 Private nonguaranteed 26 5 111 1,762 2,622 3,289 3,079 3,316 Use of IMF credit 0 0 0 0 0 0 0 0 Short-term external debt 210 525 1,645 1,780 1,575 964 1,001 1,052 interest arrears on long-term 7 3 0 0 0 0 0 0 Memorandum items 6 6 0 0 0 0 0 0 1,901 1,972 2,705 4,971 4,782 5,585 5,429 5,739 34 11 117 1,767 2,626 3,293 3,083 3,319 131 832 347 228 693 1,146 257 705 External debt flows Disbursements 108 206 371 691 1,222 1,643 252 1,044 Long-term external debt 108 206 371 691 1,222 1,643 252 1,044 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 124 160 157 467 405 671 550 488 Long-term external debt 118 160 157 467 405 671 550 488 IMF repurchases 5 0 0 0 0 0 0 0 Net flows 2 383 807 245 613 361 -261 607 Long-term external debt -11 46 214 224 817 972 -298 556 Short-term external debt 18 337 592 21 -205 -611 37 51 Interest payments 84 120 212 532 445 519 505 515 Long-term external debt 75 98 139 347 344 464 466 484 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 9 22 73 184 101 55 39 31 2. Other non-debt resource flows Foreign direct investment (net) 2 38 173 363 511 241 1,508 784 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 31 0 60 80 181 91 172 73 Grants (excluding technical coop.) 160 102 72 119 143 116 162 165 of which: Debt forgiveness grants .. .. 0 0 0 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 127 130 85 136 86 74 54 80 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.0 3.5 3.3 3.7 3.3 Japanese yen 1.3 1.8 6.7 5.0 4.9 4.3 4.8 5.9 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 56.5 46.7 68.3 80.6 81.5 84.1 83.3 83.6 4. Average terms of new commitments Official creditors Interest (%) 3.2 6.5 7.2 2.7 5.1 6.0 5.7 6.0 Maturity (years) 35.6 22.3 18.6 13.3 18.3 17.7 21.5 10.3 Grace period (years) 8.8 5.2 4.0 4.8 2.2 4.0 3.3 3.8 Private creditors Interest (%) 10.4 6.1 9.6 7.6 7.7 7.6 0.0 4.1 Maturity (years) 5.0 26.3 9.2 29.6 30.4 27.9 0.0 2.0 Grace period (years) 0.5 5.8 2.3 29.6 30.4 27.9 0.0 2.0 5. Major economic aggregates Gross national income (GNI) 4,699 9,404 12,881 15,340 16,499 18,135 19,793 21,714 Exports of goods, services & income 1,360 3,154 5,554 7,120 7,766 8,890 9,515 10,131 Worker remit. & comp. of employees 366 1,064 1,765 2,564 3,030 3,485 3,711 3,804 Imports of goods & services 1,785 3,744 6,031 7,755 8,353 9,562 10,753 11,771 International reserves 595 940 1,901 1,938 1,890 1,963 2,304 2,646 Current account balance -152 -262 -431 -628 -569 -671 -1,183 -1,596 6. Ratios External debt stocks to exports (%) 157.7 79.5 80.4 119.6 115.7 110.7 100.0 99.8 External debt stocks to GNI (%) 45.6 26.7 34.7 55.5 54.5 54.3 48.1 46.6 Debt service to exports (%) 15.3 8.9 6.6 14.0 10.9 13.4 11.1 9.9 Short-term to external debt stocks (%) 9.8 20.9 36.8 20.9 17.5 9.8 10.5 10.4 Multilateral to external debt stocks (%) 36.6 54.7 42.5 27.4 27.1 25.5 26.4 27.4 Reserves to external debt stocks (%) 27.8 37.5 42.6 22.7 21.0 19.9 24.2 26.2 Reserves to imports (months) 4.0 3.0 3.8 3.0 2.7 2.5 2.6 2.7 118 EL SALVADOR 7. Long-term external debt Debt outstanding and disbursed 1,935 1,984 2,822 6,737 7,409 8,878 8,512 9,058 Public and publicly guaranteed 1,909 1,979 2,710 4,975 4,786 5,589 5,432 5,742 Official creditors 1,725 1,870 2,505 3,041 3,067 3,141 3,158 3,475 Multilateral 784 1,374 1,900 2,336 2,431 2,507 2,508 2,773 of which: IBRD 140 307 309 348 436 417 401 400 IDA 23 20 16 13 12 11 10 9 Bilateral 941 496 605 705 636 633 649 702 Private creditors 184 109 205 1,934 1,719 2,448 2,275 2,267 of which: Bonds 0 0 82 1,834 1,636 2,344 2,242 2,174 Commercial banks 127 74 102 73 58 78 5 68 Private nonguaranteed 26 5 111 1,762 2,622 3,289 3,079 3,316 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 108 206 371 691 1,222 1,643 252 1,044 Public and publicly guaranteed 108 206 321 319 682 998 252 668 Official creditors 77 201 200 113 337 373 251 603 Multilateral 44 165 159 107 308 347 227 565 of which: IBRD 2 26 34 16 129 25 35 52 IDA 0 0 0 0 0 0 0 0 Bilateral 33 35 41 6 28 25 24 38 Private creditors 30 5 120 205 345 625 0 65 of which: Bonds 0 0 32 204 343 625 0 0 Commercial banks 25 5 87 1 0 0 0 65 Private nonguaranteed 0 0 51 373 540 645 0 376 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 118 160 157 467 405 671 550 488 Public and publicly guaranteed 105 157 124 274 244 457 340 349 Official creditors 94 123 120 258 228 330 280 346 Multilateral 57 78 87 220 184 287 241 305 of which: IBRD 15 21 17 41 40 44 51 53 IDA 1 1 1 1 1 1 1 1 Bilateral 37 45 33 38 44 43 39 41 Private creditors 11 33 4 15 16 127 60 4 of which: Bonds 0 0 0 0 0 121 30 0 Commercial banks 9 25 4 14 14 5 28 2 Private nonguaranteed 14 3 33 194 160 214 210 139 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 75 98 139 347 344 464 466 484 Public and publicly guaranteed 72 98 132 268 257 334 348 368 Official creditors 62 89 123 116 118 126 137 136 Multilateral 50 62 103 97 101 111 123 121 of which: IBRD 14 22 24 12 14 22 24 19 IDA 0 0 0 0 0 0 0 0 Bilateral 13 27 19 19 17 16 14 15 Private creditors 9 9 9 152 139 207 211 232 of which: Bonds 0 0 8 145 133 206 209 232 Commercial banks 8 7 1 7 6 1 2 0 Private nonguaranteed 3 0 7 79 87 131 117 116 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 65 412 778 332 467 859 -330 597 Net flows on external debt 2 383 807 245 613 361 -261 607 Cross-currency valuation 7 50 -43 30 -70 42 45 63 9. Debt restructurings Total amount rescheduled 84 0 0 0 0 0 0 0 Total amount forgiven 0 0 17 0 0 0 0 3 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 332 347 321 491 442 227 216 203 Interest 168 162 151 132 107 92 82 71 Private creditors Principal 886 687 758 335 270 204 172 139 Interest 321 283 248 211 195 183 173 164 Notes: Data on long-term private nonguaranteed debt are revised from 2005 and World Bank staff estimates based on Balance of Payments reported by the country. 119 ERITREA 1. Summary external debt data External debt stocks .. 36.7 299.9 705.7 724.5 784.9 859.8 962.0 Long-term external debt .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 Public and publicly guaranteed .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt .. 0.0 2.0 1.7 1.6 3.6 4.1 4.6 interest arrears on long-term .. 0.0 2.0 1.7 1.6 3.6 4.1 4.6 Memorandum items .. 0.0 4.9 28.0 13.9 21.4 18.4 9.9 .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. 110.5 173.6 72.8 0.0 34.6 46.3 80.0 External debt flows Disbursements .. 7.2 50.7 92.4 70.6 37.9 42.1 104.4 Long-term external debt .. 7.2 50.7 92.4 70.6 37.9 42.1 104.4 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 Long-term external debt .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows .. 7.2 50.2 82.0 58.9 31.7 40.4 98.7 Long-term external debt .. 7.2 50.2 82.0 58.9 31.7 40.4 98.7 Short-term external debt .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments .. 0.2 2.5 8.6 8.4 6.1 4.1 8.9 Long-term external debt .. 0.2 2.5 8.6 8.4 6.1 4.1 8.9 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2. Other non-debt resource flows Foreign direct investment (net) .. 0.0 27.9 -7.9 -1.0 0.5 -2.8 36.0 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI .. 0.0 4.4 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. 103.2 104.3 193.0 238.1 88.5 116.2 108.7 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 6.9 8.2 4.4 12.3 10.1 Memo: technical coop. grants .. 42.7 22.1 30.8 24.2 16.2 10.5 9.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 6.4 5.3 5.4 5.5 4.7 Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 66.3 57.0 66.7 68.5 68.1 67.9 66.6 4. Average terms of new commitments Official creditors Interest (%) .. 2.0 0.7 0.8 0.0 2.1 2.0 5.5 Maturity (years) .. 23.9 39.7 36.3 0.0 21.0 -2.4 5.5 Grace period (years) .. 5.6 10.4 8.8 0.0 5.8 3.1 3.0 Private creditors Interest (%) .. 0.0 0.0 0.5 0.0 0.0 0.0 0.0 Maturity (years) .. 0.0 0.0 36.1 0.0 0.0 0.0 0.0 Grace period (years) .. 0.0 0.0 24.6 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. 585.6 634.1 615.9 1152.0 1273.0 1364.8 1641.4 Exports of goods, services & income .. 142.4 106.9 .. .. .. .. .. Worker remit. & comp. of employees .. .. 3.0 .. .. .. .. .. Imports of goods & services .. 498.2 510.3 .. .. .. .. .. International reserves .. 40.5 36.1 34.7 27.9 25.4 34.3 .. Current account balance .. -31.5 -104.7 .. .. .. .. .. 6. Ratios External debt stocks to exports (%) .. 25.8 280.7 .. .. .. .. .. External debt stocks to GNI (%) .. 6.3 47.3 114.6 62.9 61.7 63.0 58.6 Debt service to exports (%) .. 0.1 2.8 .. .. .. .. .. Short-term to external debt stocks (%) .. .. 0.7 0.2 0.2 0.5 0.5 0.5 Multilateral to external debt stocks (%) .. 66.3 50.6 68.3 70.4 71.5 71.3 66.9 Reserves to external debt stocks (%) .. 110.4 12.0 4.9 3.9 3.2 4.0 .. Reserves to imports (months) .. 1.0 0.8 .. .. .. .. .. 120 ERITREA 7. Long-term external debt Debt outstanding and disbursed .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 Public and publicly guaranteed .. 36.7 298.0 704.0 723.0 781.4 855.7 957.3 Official creditors .. 36.7 298.0 666.1 690.1 744.7 814.7 917.8 Multilateral .. 24.3 151.9 481.7 510.1 561.6 613.2 643.1 of which: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 24.3 84.5 352.0 381.1 419.4 456.9 472.6 Bilateral .. 12.4 146.1 184.4 180.0 183.1 201.5 274.7 Private creditors .. 0.0 0.0 37.9 32.9 36.7 41.0 39.5 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements .. 7.2 50.7 92.4 70.6 37.9 42.1 104.4 Public and publicly guaranteed .. 7.2 50.7 92.4 70.6 37.9 42.1 104.4 Official creditors .. 7.2 50.7 57.7 70.6 37.4 42.1 103.6 Multilateral .. 5.4 39.2 56.6 70.0 33.1 28.4 31.1 of which: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 5.4 31.6 35.6 57.3 20.2 20.5 22.5 Bilateral .. 1.8 11.5 1.1 0.6 4.3 13.6 72.4 Private creditors .. 0.0 0.0 34.6 0.0 0.5 0.0 0.8 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 Public and publicly guaranteed .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 Official creditors .. 0.0 0.5 10.4 11.8 6.2 1.7 5.7 Multilateral .. 0.0 0.5 4.1 6.5 4.2 1.4 5.1 of which: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.0 0.5 0.5 0.7 1.0 3.1 Bilateral .. 0.0 0.0 6.2 5.2 2.0 0.2 0.6 Private creditors .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments .. 0.2 2.5 8.6 8.4 6.1 4.1 8.9 Public and publicly guaranteed .. 0.2 2.5 8.6 8.4 6.1 4.1 8.9 Official creditors .. 0.2 2.5 8.6 8.4 6.0 4.1 8.9 Multilateral .. 0.2 1.3 5.4 5.9 5.1 3.9 4.6 of which: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.2 0.4 3.3 3.0 3.6 3.4 3.1 Bilateral .. 0.0 1.2 3.2 2.5 0.9 0.1 4.3 Private creditors .. 0.0 0.0 0.0 0.0 0.1 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks .. 7.6 47.4 98.1 18.8 60.4 74.8 102.2 Net flows on external debt .. 7.2 50.2 82.0 58.9 31.7 40.4 98.7 Cross-currency valuation .. 0.4 -4.2 15.1 -34.6 23.7 28.1 2.0 9. Debt restructurings Total amount rescheduled .. 0.0 0.0 0.0 0.0 0.0 16.7 20.6 Total amount forgiven .. 0.0 0.0 0.0 0.0 0.0 5.7 0.0 Debt buyback .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 28.0 31.2 61.1 61.7 61.5 34.8 30.0 27.3 Interest 11.2 11.6 11.2 9.6 8.0 6.6 6.1 5.7 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 121 ETHIOPIA 1. Summary external debt data External debt stocks 8,645 10,322 5,495 6,663 6,204 2,273 2,620 2,882 Long-term external debt 8,493 9,788 5,339 6,351 5,924 2,197 2,568 2,826 Public and publicly guaranteed 8,493 9,788 5,339 6,351 5,924 2,197 2,568 2,826 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 6 73 77 183 160 0 0 0 Short-term external debt 145 460 79 129 120 76 52 56 interest arrears on long-term 43 437 65 36 36 36 32 32 Memorandum items 236 3,628 652 528 508 374 373 373 8,492 9,788 5,339 6,351 5,924 2,197 2,568 2,826 1 0 0 0 0 0 0 0 580 170 500 295 748 415 916 468 External debt flows Disbursements 374 232 185 403 527 370 380 379 Long-term external debt 374 232 185 372 527 370 380 379 IMF purchases 0 0 0 31 0 0 0 0 Principal repayments 177 92 85 52 40 111 88 71 Long-term external debt 152 92 72 43 36 111 88 71 IMF repurchases 25 0 13 9 4 0 0 0 Net flows 203 133 90 402 479 215 273 312 Long-term external debt 222 140 114 329 492 259 293 308 Short-term external debt 7 -8 -11 51 -9 -44 -20 4 Interest payments 59 63 53 49 54 56 45 40 Long-term external debt 49 61 52 47 49 54 44 39 IMF charges 2 0 0 1 1 0 0 0 Short-term external debt 8 1 1 2 3 3 1 1 2. Other non-debt resource flows Foreign direct investment (net) 12 14 135 0 265 545 222 109 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 9 28 21 24 18 17 Grants (excluding technical coop.) 604 476 425 1,459 1,464 5,177 2,036 2,871 of which: Debt forgiveness grants .. .. 1 155 154 3,952 7 11 IDA grants .. .. .. 282 72 168 192 390 Memo: technical coop. grants 250 164 120 173 196 259 124 152 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 5.0 5.6 14.9 17.5 16.9 Japanese yen 0.5 0.4 0.3 0.2 0.2 0.1 0.1 0.1 Pound sterling 0.3 0.2 0.3 0.4 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 24.2 29.0 75.8 74.4 72.4 63.6 58.1 55.0 4. Average terms of new commitments Official creditors Interest (%) 1.9 1.0 0.8 0.9 0.9 1.1 0.9 0.8 Maturity (years) 32.7 36.3 38.4 37.9 32.3 34.9 39.5 38.3 Grace period (years) 7.9 9.3 10.0 9.5 6.3 8.9 9.6 9.7 Private creditors Interest (%) 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 14.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 12,016 7,545 8,119 9,989 12,269 15,127 19,409 26,521 Exports of goods, services & income 606 836 1,062 1,849 2,146 2,424 3,085 3,938 Worker remit. & comp. of employees 5 27 53 134 174 172 358 387 Imports of goods & services 1,349 1,533 1,673 3,787 4,943 5,314 6,945 9,653 International reserves 55 815 363 1,497 1,121 833 1,290 871 Current account balance -294 39 13 -668 -1,568 -1,786 -828 -1,806 6. Ratios External debt stocks to exports (%) 1,427.1 1,234.8 517.6 360.3 289.1 93.8 84.9 73.2 External debt stocks to GNI (%) 71.9 136.8 67.7 66.7 50.6 15.0 13.5 10.9 Debt service to exports (%) 39.0 18.5 13.0 5.5 4.3 6.9 4.3 2.8 Short-term to external debt stocks (%) 1.7 4.5 1.4 1.9 1.9 3.3 2.0 1.9 Multilateral to external debt stocks (%) 14.8 22.8 50.1 72.6 75.8 47.6 52.5 55.6 Reserves to external debt stocks (%) 0.6 7.9 6.6 22.5 18.1 36.6 49.2 30.2 Reserves to imports (months) 0.5 6.4 2.6 4.7 2.7 1.9 2.2 1.1 122 ETHIOPIA 7. Long-term external debt Debt outstanding and disbursed 8,493 9,788 5,339 6,351 5,924 2,197 2,568 2,826 Public and publicly guaranteed 8,493 9,788 5,339 6,351 5,924 2,197 2,568 2,826 Official creditors 7,920 9,198 5,226 6,098 5,560 1,881 2,296 2,587 Multilateral 1,283 2,354 2,752 4,835 4,703 1,082 1,376 1,603 of which: IBRD 27 0 0 0 0 0 0 0 IDA 824 1,470 1,779 3,488 3,359 553 711 859 Bilateral 6,637 6,844 2,473 1,263 857 799 920 985 Private creditors 573 590 113 253 364 316 272 239 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 116 253 12 1 1 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 374 232 185 372 527 370 380 379 Public and publicly guaranteed 374 232 185 372 527 370 380 379 Official creditors 324 232 184 294 400 370 380 379 Multilateral 139 209 181 293 323 290 272 285 of which: IBRD 0 0 0 0 0 0 0 0 IDA 74 84 137 202 162 179 132 160 Bilateral 185 23 3 2 76 80 108 95 Private creditors 51 0 2 78 127 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 152 92 72 43 36 111 88 71 Public and publicly guaranteed 152 92 72 43 36 111 88 71 Official creditors 45 44 62 35 24 67 43 38 Multilateral 16 40 56 29 15 56 34 30 of which: IBRD 7 4 0 0 0 0 0 0 IDA 4 12 21 13 0 23 0 3 Bilateral 29 3 6 7 10 10 9 8 Private creditors 107 48 10 7 11 45 44 33 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 45 39 4 0 0 1 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 49 61 52 47 49 54 44 39 Public and publicly guaranteed 49 61 52 47 49 54 44 39 Official creditors 24 32 48 45 40 37 29 27 Multilateral 13 24 34 39 29 32 17 19 of which: IBRD 2 0 0 0 0 0 0 0 IDA 6 11 13 23 15 16 6 7 Bilateral 11 9 14 6 11 5 12 8 Private creditors 24 29 4 1 10 17 15 11 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 11 27 1 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 790 244 -62 -628 -458 -3,931 347 262 Net flows on external debt 203 133 90 402 479 215 273 312 Cross-currency valuation 586 22 -105 11 -500 -4,128 -80 -5 9. Debt restructurings Total amount rescheduled 0 30 0 17 164 0 0 0 Total amount forgiven 66 8 0 1,372 447 4,192 13 31 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 88 88 103 107 120 128 137 144 Interest 37 39 40 40 40 39 37 36 Private creditors Principal 122 110 0 0 0 0 0 0 Interest 4 1 0 0 0 0 0 0 Notes: Ethiopia was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. 123 FIJI 1. Summary external debt data External debt stocks 308.4 178.2 172.6 245.9 185.7 204.2 347.3 379.5 Long-term external debt 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 Public and publicly guaranteed 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 12.0 15.0 0.2 53.4 0.4 12.0 0.3 19.4 interest arrears on long-term 0.0 0.1 0.2 0.4 0.4 1.0 0.3 0.4 Memorandum items 0.0 0.0 0.0 0.0 0.0 2.0 1.5 2.2 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30.0 10.5 0.0 47.0 25.0 170.7 0.0 0.0 External debt flows Disbursements 15.1 15.2 7.1 11.8 14.1 12.8 162.6 13.2 Long-term external debt 15.1 15.2 7.1 11.8 14.1 12.8 162.6 13.2 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 55.5 31.2 16.9 6.3 8.5 7.6 10.4 7.7 Long-term external debt 54.6 31.2 16.9 6.3 8.5 7.6 10.4 7.7 IMF repurchases 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows -42.3 -17.1 -9.8 58.5 -47.5 16.2 141.2 24.5 Long-term external debt -39.5 -16.0 -9.8 5.5 5.5 5.2 152.2 5.5 Short-term external debt -2.0 -1.1 0.0 53.0 -53.0 11.0 -11.0 19.0 Interest payments 25.2 11.2 7.7 6.6 5.7 6.4 16.2 16.1 Long-term external debt 23.7 10.3 7.7 5.6 5.7 5.8 16.2 15.8 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term external debt 1.5 0.9 0.0 1.0 0.0 0.6 0.0 0.3 2. Other non-debt resource flows Foreign direct investment (net) 91.9 69.5 -1.7 255.5 160.4 415.3 337.0 320.4 Portfolio equity flows 0.0 0.0 0.0 1.0 0.9 -1.7 5.7 -6.6 Profit remittances on FDI 49.4 83.7 9.8 140.8 114.7 162.4 116.9 56.8 Grants (excluding technical coop.) 14.3 21.4 9.3 28.3 38.2 22.4 21.9 19.9 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.0 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 36.2 30.9 21.9 28.9 29.3 34.6 30.2 26.7 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 2.9 2.3 2.3 1.3 1.1 Japanese yen 0.0 0.0 0.8 11.2 9.7 8.8 4.8 5.4 Pound sterling 13.7 3.3 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 5.4 0.8 49.0 56.6 64.2 66.5 83.4 82.7 4. Average terms of new commitments Official creditors Interest (%) 6.6 4.5 0.0 2.6 4.3 2.0 0.0 0.0 Maturity (years) 24.8 12.0 0.0 24.0 24.7 20.4 0.0 0.0 Grace period (years) 5.1 4.5 0.0 4.5 5.2 0.4 0.0 0.0 Private creditors Interest (%) 8.8 0.0 0.0 0.0 0.0 6.9 0.0 0.0 Maturity (years) 10.4 0.0 0.0 0.0 0.0 5.3 0.0 0.0 Grace period (years) 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1289.6 1931.1 1717.4 2727.8 3006.1 3046.8 3275.7 3433.0 Exports of goods, services & income 881.6 1139.1 1048.8 1541.6 1722.2 1676.3 .. .. Worker remit. & comp. of employees 22.0 33.0 24.0 171.9 184.2 165.5 165.5 175.0 Imports of goods & services 974.3 1254.7 1142.8 1927.9 2113.2 2368.1 .. .. International reserves 261.1 349.3 412.0 478.5 318.8 .. .. .. Current account balance -94.0 -112.7 -67.2 -370.4 -396.4 -715.2 .. .. 6. Ratios External debt stocks to exports (%) 35.0 15.6 16.5 16.0 10.8 12.2 .. .. External debt stocks to GNI (%) 23.9 9.2 10.1 9.0 6.2 6.7 10.6 11.1 Debt service to exports (%) 9.1 3.7 2.3 0.8 0.8 0.8 .. .. Short-term to external debt stocks (%) 3.9 8.4 0.1 21.7 0.2 5.9 0.1 5.1 Multilateral to external debt stocks (%) 65.5 84.0 51.4 37.0 49.5 47.3 29.3 28.6 Reserves to external debt stocks (%) 84.7 196.0 238.7 194.5 171.7 .. .. .. Reserves to imports (months) 3.2 3.3 4.3 3.0 1.8 .. .. .. 124 FIJI 7. Long-term external debt Debt outstanding and disbursed 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 Public and publicly guaranteed 296.4 163.2 172.4 192.5 185.4 192.2 347.0 360.1 Official creditors 269.5 162.7 172.4 192.5 185.4 192.2 197.0 210.1 Multilateral 202.0 149.7 88.8 91.0 91.8 96.7 101.6 108.6 of which: IBRD 67.8 35.3 19.7 9.3 6.3 4.3 2.6 1.5 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 67.5 13.0 83.6 101.5 93.5 95.5 95.4 101.4 Private creditors 26.9 0.6 0.0 0.0 0.0 0.0 150.0 150.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 12.1 0.4 0.0 0.0 0.0 0.0 150.0 150.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 15.1 15.2 7.1 11.8 14.1 12.8 162.6 13.2 Public and publicly guaranteed 15.1 15.2 7.1 11.8 14.1 12.8 162.6 13.2 Official creditors 14.4 15.2 7.1 11.8 14.1 12.8 12.6 13.2 Multilateral 13.2 15.2 5.6 9.5 14.1 9.7 12.6 10.0 of which: IBRD 5.1 5.6 1.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 1.1 0.0 1.5 2.3 0.0 3.1 0.0 3.3 Private creditors 0.7 0.0 0.0 0.0 0.0 0.0 150.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.6 0.0 0.0 0.0 0.0 0.0 150.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 54.6 31.2 16.9 6.3 8.5 7.6 10.4 7.7 Public and publicly guaranteed 54.6 31.2 16.9 6.3 8.5 7.6 10.4 7.7 Official creditors 41.5 30.2 16.9 6.3 8.5 7.6 10.4 7.7 Multilateral 33.8 28.2 14.8 5.5 6.5 6.3 9.1 6.3 of which: IBRD 9.1 11.5 7.7 2.3 2.3 2.2 1.8 1.3 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 7.7 2.0 2.1 0.8 2.0 1.3 1.3 1.4 Private creditors 13.2 1.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 5.7 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 23.7 10.3 7.7 5.6 5.7 5.8 16.2 15.8 Public and publicly guaranteed 23.7 10.3 7.7 5.3 5.5 5.7 16.1 15.8 Official creditors 21.0 10.2 7.7 5.3 5.5 5.7 5.8 5.5 Multilateral 15.0 9.5 5.2 3.0 3.2 3.8 4.1 3.8 of which: IBRD 5.6 3.0 1.4 0.4 0.4 0.3 0.2 0.1 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 6.0 0.7 2.5 2.4 2.3 1.9 1.6 1.7 Private creditors 2.6 0.1 0.0 0.0 0.0 0.0 10.3 10.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 1.1 0.1 0.0 0.0 0.0 0.0 10.3 10.3 Private nonguaranteed 0.0 0.0 0.0 0.3 0.2 0.2 0.1 0.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks -3.8 -12.8 -19.0 62.1 -60.2 18.5 143.1 32.2 Net flows on external debt -42.3 -17.1 -9.8 58.5 -47.5 16.2 141.2 24.5 Cross-currency valuation 24.5 -6.0 -7.9 2.5 -8.2 0.4 2.5 8.3 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 2.2 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 38.5 37.2 36.7 12.6 10.8 10.9 11.0 11.1 Interest 6.9 5.8 4.9 4.1 3.7 3.4 3.0 2.7 Private creditors Principal 50.0 50.0 50.0 0.0 0.0 0.0 0.0 0.0 Interest 10.4 7.4 4.0 0.6 0.0 0.0 0.0 0.0 125 GABON 1. Summary external debt data External debt stocks 3,983 4,361 3,902 4,061 3,877 4,187 2,846 2,367 Long-term external debt 3,150 3,977 3,457 3,777 3,562 3,697 2,599 2,247 Public and publicly guaranteed 3,150 3,977 3,457 3,777 3,562 3,697 2,599 2,247 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 140 97 89 100 68 57 25 0 Short-term external debt 693 287 355 184 247 434 222 120 interest arrears on long-term 130 0 63 184 187 344 6 10 Memorandum items 82 26 118 218 341 773 38 32 3,148 3,977 3,457 3,777 3,562 3,697 2,599 2,247 2 0 0 0 0 0 0 0 65 89 20 107 142 40 1,946 641 External debt flows Disbursements 204 279 51 195 18 87 1,089 108 Long-term external debt 195 222 34 133 18 87 1,089 108 IMF purchases 9 57 17 62 0 0 0 0 Principal repayments 40 216 198 189 136 128 2,280 416 Long-term external debt 26 165 188 164 111 114 2,246 391 IMF repurchases 15 52 10 25 25 14 34 25 Net flows 164 14 -363 -50 -58 -11 -1,065 -414 Long-term external debt 170 57 -154 -31 -93 -27 -1,157 -283 Short-term external debt 0 -49 -216 -56 60 30 126 -106 Interest payments 136 240 154 48 57 42 386 167 Long-term external debt 78 217 124 46 52 36 377 162 IMF charges 13 5 4 2 3 3 3 1 Short-term external debt 45 17 26 0 2 3 7 4 2. Other non-debt resource flows Foreign direct investment (net) 73 -315 -43 320 242 268 269 20 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 116 236 473 722 765 0 0 0 Grants (excluding technical coop.) 30 87 39 33 57 21 29 26 of which: Debt forgiveness grants .. .. 17 7 3 0 0 0 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 36 46 26 44 45 56 60 41 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 56.8 47.5 48.9 35.1 29.9 Japanese yen 0.7 0.9 0.8 0.6 0.5 0.5 0.4 0.4 Pound sterling 5.3 5.0 4.6 5.3 4.4 4.9 4.6 2.4 Swiss franc 0.3 0.8 0.5 0.2 0.2 0.2 0.2 0.1 U.S.dollars 10.3 11.5 29.1 24.8 36.2 34.6 44.7 50.8 4. Average terms of new commitments Official creditors Interest (%) 7.7 4.7 0.0 2.0 1.4 4.2 4.9 2.5 Maturity (years) 19.0 13.0 8.7 19.6 16.2 14.4 19.4 18.1 Grace period (years) 5.4 5.9 0.7 5.1 4.3 2.9 5.3 6.1 Private creditors Interest (%) 9.0 0.0 0.0 0.0 2.6 0.0 7.3 4.9 Maturity (years) 11.8 0.0 0.0 0.0 5.8 0.0 8.1 7.8 Grace period (years) 1.3 0.0 0.0 0.0 2.7 0.0 7.1 2.3 5. Major economic aggregates Gross national income (GNI) 5,336 4,293 4,289 5,987 7,708 7,902 10,042 12,191 Exports of goods, services & income 2,750 2,984 3,549 4,243 5,648 .. .. .. Worker remit. & comp. of employees .. 4 6 7 11 11 11 11 Imports of goods & services 2,448 2,423 2,483 3,133 3,395 .. .. .. International reserves 279 153 194 449 675 1,122 1,238 1,935 Current account balance 168 515 1,001 924 1,983 .. .. .. 6. Ratios External debt stocks to exports (%) 144.8 146.2 109.9 95.7 68.7 .. .. .. External debt stocks to GNI (%) 74.6 101.6 91.0 67.8 50.3 53.0 28.3 19.4 Debt service to exports (%) 6.4 15.3 9.9 5.6 3.4 .. .. .. Short-term to external debt stocks (%) 17.4 6.6 9.1 4.5 6.4 10.4 7.8 5.1 Multilateral to external debt stocks (%) 8.0 13.5 12.0 11.4 10.1 9.7 14.3 16.1 Reserves to external debt stocks (%) 7.0 3.5 5.0 11.1 17.4 26.8 43.5 81.7 Reserves to imports (months) 1.4 0.8 0.9 1.7 2.4 .. .. .. 126 GABON 7. Long-term external debt Debt outstanding and disbursed 3,150 3,977 3,457 3,777 3,562 3,697 2,599 2,247 Public and publicly guaranteed 3,150 3,977 3,457 3,777 3,562 3,697 2,599 2,247 Official creditors 2,435 3,778 3,338 3,599 3,443 3,576 1,464 1,172 Multilateral 317 588 468 464 393 407 406 381 of which: IBRD 69 110 64 38 30 19 12 20 IDA 0 0 0 0 0 0 0 0 Bilateral 2,118 3,190 2,871 3,135 3,050 3,168 1,058 791 Private creditors 715 199 119 179 119 121 1,135 1,075 of which: Bonds 0 0 0 0 0 0 1,000 946 Commercial banks 181 148 103 69 39 29 60 92 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 195 222 34 133 18 87 1,089 108 Public and publicly guaranteed 195 222 34 133 18 87 1,089 108 Official creditors 158 222 13 133 18 61 41 62 Multilateral 84 150 11 108 15 57 37 17 of which: IBRD 10 4 9 3 0 0 0 12 IDA 0 0 0 0 0 0 0 0 Bilateral 74 72 2 26 3 4 4 45 Private creditors 37 0 21 0 0 26 1,048 45 of which: Bonds 0 0 0 0 0 0 1,000 0 Commercial banks 0 0 21 0 0 0 37 45 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 26 165 188 164 111 114 2,246 391 Public and publicly guaranteed 26 165 188 164 111 114 2,246 391 Official creditors 18 90 160 110 63 84 2,207 293 Multilateral 13 43 44 63 54 56 51 53 of which: IBRD 1 12 13 14 7 12 8 3 IDA 0 0 0 0 0 0 0 0 Bilateral 5 48 116 47 9 28 2,156 240 Private creditors 8 75 27 54 48 30 39 98 of which: Bonds 0 0 0 0 0 0 0 50 Commercial banks 3 26 27 34 28 10 6 9 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 78 217 124 46 52 36 377 162 Public and publicly guaranteed 78 217 124 46 52 36 377 162 Official creditors 68 174 118 37 46 32 372 77 Multilateral 21 26 42 26 21 21 21 19 of which: IBRD 5 8 5 3 1 2 1 1 IDA 0 0 0 0 0 0 0 0 Bilateral 47 148 75 12 24 11 350 58 Private creditors 11 44 7 9 7 4 5 85 of which: Bonds 0 0 0 0 0 0 0 80 Commercial banks 5 26 7 7 5 3 2 4 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 632 189 -83 312 -183 310 -1,341 -479 Net flows on external debt 164 14 -363 -50 -58 -11 -1,065 -414 Cross-currency valuation 293 228 -196 211 -328 213 224 -42 9. Debt restructurings Total amount rescheduled 271 472 637 749 407 0 0 0 Total amount forgiven 0 41 0 0 0 0 89 10 Debt buyback 0 0 0 0 0 0 2,100 216 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 473 189 172 122 90 87 113 109 Interest 52 42 38 31 28 27 25 23 Private creditors Principal 266 187 23 23 20 19 19 13 Interest 92 88 84 83 82 80 80 79 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates based on reports provided by the country and include the effects of Paris Club debt buyback agreement signed in 2007. 127 GAMBIA, THE 1. Summary external debt data External debt stocks 369.1 426.1 483.3 673.4 669.5 728.1 726.6 452.6 Long-term external debt 308.4 385.5 437.9 621.8 626.2 692.4 698.6 419.9 Public and publicly guaranteed 308.4 385.5 437.9 621.8 626.2 692.4 698.6 419.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 44.9 25.8 18.1 24.8 20.8 17.8 6.3 12.3 Short-term external debt 15.7 14.8 27.3 26.9 22.4 17.9 21.6 20.4 interest arrears on long-term 0.6 0.7 0.0 2.9 1.4 0.9 0.6 0.4 Memorandum items 0.9 2.2 2.0 18.9 20.9 23.6 21.0 13.9 306.6 385.3 437.9 621.8 626.2 692.4 698.6 419.9 1.8 0.2 0.0 0.0 0.0 0.0 0.0 0.0 37.9 40.3 24.5 84.3 51.0 25.3 23.0 0.0 External debt flows Disbursements 32.8 23.0 29.7 51.4 62.6 59.9 58.6 76.2 Long-term external debt 23.5 23.0 20.7 51.4 62.6 59.9 52.5 69.9 IMF purchases 9.3 0.0 9.1 0.0 0.0 0.0 6.1 6.3 Principal repayments 25.5 21.7 14.3 28.2 17.9 21.6 24.4 14.7 Long-term external debt 20.2 15.5 12.7 17.0 15.8 17.5 20.8 14.7 IMF repurchases 5.3 6.2 1.6 11.2 2.0 4.0 3.7 0.0 Net flows 15.5 -7.6 20.6 17.2 41.7 34.3 38.2 60.5 Long-term external debt 3.4 7.5 8.0 34.4 46.7 42.4 31.7 55.2 Short-term external debt 8.1 -8.8 5.2 -6.0 -3.0 -4.0 4.0 -1.0 Interest payments 12.3 6.3 7.3 9.1 10.5 9.9 11.8 10.1 Long-term external debt 10.2 5.2 6.0 8.0 9.5 9.0 10.6 9.1 IMF charges 1.3 0.2 0.1 0.2 0.1 0.1 0.1 0.1 Short-term external debt 0.8 0.9 1.2 0.8 0.9 0.9 1.0 1.0 2. Other non-debt resource flows Foreign direct investment (net) 14.1 7.8 43.5 56.8 51.9 82.1 72.6 72.1 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 0.0 0.0 0.0 21.9 26.0 32.8 33.9 35.7 Grants (excluding technical coop.) 44.7 17.6 21.7 28.8 26.1 31.6 73.6 271.4 of which: Debt forgiveness grants .. .. 0.1 2.5 0.8 0.1 14.9 215.3 IDA grants .. .. .. 0.0 0.0 0.0 3.0 5.8 Memo: technical coop. grants 24.2 22.8 9.6 9.7 9.1 11.2 9.3 8.6 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 4.6 3.7 3.5 4.0 8.1 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 8.5 6.3 4.8 2.8 2.7 2.3 2.2 0.0 Swiss franc 1.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 39.1 43.5 51.3 54.1 55.0 53.6 47.2 46.5 4. Average terms of new commitments Official creditors Interest (%) 0.8 3.5 1.7 2.5 4.1 0.2 0.0 0.0 Maturity (years) 42.0 21.3 27.4 25.9 29.9 29.5 28.9 0.0 Grace period (years) 10.0 6.2 6.8 6.0 7.3 8.7 9.9 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 4.7 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 12.4 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 2.4 0.0 5. Major economic aggregates Gross national income (GNI) 291.4 377.1 400.4 366.0 417.8 459.7 596.7 735.6 Exports of goods, services & income 169.7 181.0 .. 245.5 240.4 268.0 286.0 .. Worker remit. & comp. of employees 10.0 19.0 14.0 62.1 57.4 63.7 47.3 64.0 Imports of goods & services 205.4 241.4 .. 282.5 296.2 358.1 369.4 .. International reserves 55.4 106.1 109.4 83.8 98.3 120.6 142.8 .. Current account balance 23.4 -8.2 .. -31.0 -43.6 -65.6 -52.7 .. 6. Ratios External debt stocks to exports (%) 217.5 235.4 .. 274.3 278.5 271.7 254.0 .. External debt stocks to GNI (%) 126.7 113.0 120.7 184.0 160.2 158.4 121.8 61.5 Debt service to exports (%) 22.2 15.5 .. 15.2 11.8 11.8 12.7 .. Short-term to external debt stocks (%) 4.3 3.5 5.7 4.0 3.4 2.5 3.0 4.5 Multilateral to external debt stocks (%) 55.0 76.6 71.1 75.0 76.1 78.3 78.8 63.4 Reserves to external debt stocks (%) 15.0 24.9 22.6 12.4 14.7 16.6 19.7 .. Reserves to imports (months) 3.2 5.3 .. 3.6 4.0 4.0 4.6 .. 128 GAMBIA, THE 7. Long-term external debt Debt outstanding and disbursed 308.4 385.5 437.9 621.8 626.2 692.4 698.6 419.9 Public and publicly guaranteed 308.4 385.5 437.9 621.8 626.2 692.4 698.6 419.9 Official creditors 290.1 385.2 436.9 620.9 625.5 691.5 697.6 408.1 Multilateral 203.1 326.2 343.7 505.3 509.5 570.1 572.2 286.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 101.6 161.6 170.7 247.4 244.9 263.5 218.9 61.9 Bilateral 87.0 59.0 93.2 115.6 116.0 121.5 125.4 121.4 Private creditors 18.3 0.2 1.0 0.9 0.8 0.9 1.0 11.8 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 16.0 0.0 0.9 0.9 0.8 0.9 1.0 11.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 23.5 23.0 20.7 51.4 62.6 59.9 52.5 69.9 Public and publicly guaranteed 23.5 23.0 20.7 51.4 62.6 59.9 52.5 69.9 Official creditors 23.5 23.0 20.7 51.4 62.6 59.9 52.5 58.4 Multilateral 17.7 19.0 17.1 44.8 53.7 50.0 40.9 46.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 9.8 11.6 7.7 20.8 18.9 11.7 1.1 2.4 Bilateral 5.8 4.0 3.6 6.6 8.9 9.9 11.6 11.7 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.5 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.5 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 20.2 15.5 12.7 17.0 15.8 17.5 20.8 14.7 Public and publicly guaranteed 20.2 15.5 12.7 17.0 15.8 17.5 20.8 14.7 Official creditors 12.7 15.1 12.3 17.0 15.8 17.5 20.8 14.7 Multilateral 4.7 6.7 7.9 8.3 10.1 11.0 14.7 8.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.3 0.8 2.3 1.4 3.3 4.3 5.0 0.1 Bilateral 7.9 8.5 4.4 8.6 5.7 6.6 6.0 6.4 Private creditors 7.5 0.4 0.4 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.0 0.0 0.3 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 10.2 5.2 6.0 8.0 9.5 9.0 10.6 9.1 Public and publicly guaranteed 10.2 5.2 6.0 8.0 9.5 9.0 10.6 9.1 Official creditors 5.5 5.2 5.9 8.0 9.5 9.0 10.6 9.1 Multilateral 2.9 3.5 3.6 5.7 5.3 5.7 6.8 5.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.7 1.2 1.2 1.9 1.9 2.0 2.0 0.5 Bilateral 2.6 1.7 2.3 2.3 4.2 3.3 3.8 4.0 Private creditors 4.7 0.0 0.1 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 3.8 0.0 0.1 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 31.4 3.1 18.7 37.8 -3.9 58.6 -1.5 -274.0 Net flows on external debt 15.5 -7.6 20.6 17.2 41.7 34.3 38.2 60.5 Cross-currency valuation 3.3 -17.5 -37.1 -16.3 -55.7 -17.2 -71.3 -189.9 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.4 Total amount forgiven 0.0 0.0 0.0 2.4 0.7 0.2 0.0 225.5 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 18.2 21.2 23.3 23.4 24.0 24.5 24.1 21.8 Interest 7.6 7.6 7.4 7.0 6.5 6.0 5.5 5.0 Private creditors Principal 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 Interest 0.7 0.7 0.7 0.6 0.5 0.4 0.3 0.3 Notes: Data on long-term public and publicly guaranteed debt for 2008 are World Bank staff estimates. Data for 2008 include the effects of Multilateral Debt Relief Initiative and HIPC debt relief, in the amount of $214,362 in thousands. 129 GEORGIA 1. Summary external debt data External debt stocks .. 1,240 1,638 2,064 1,909 1,970 2,296 3,380 Long-term external debt .. 1,039 1,316 1,692 1,626 1,625 1,784 2,562 Public and publicly guaranteed .. 1,039 1,274 1,593 1,494 1,466 1,544 2,222 Private nonguaranteed .. 0 42 99 132 159 241 341 Use of IMF credit .. 116 278 266 232 236 252 460 Short-term external debt .. 85 44 106 50 108 260 357 interest arrears on long-term .. 61 1 7 11 7 7 7 Memorandum items .. 211 179 191 151 69 32 28 .. 1,039 1,264 1,591 1,493 1,466 1,544 2,222 .. 0 52 101 133 159 241 341 .. 91 72 60 84 104 55 812 External debt flows Disbursements .. 174 65 197 187 216 235 1,149 Long-term external debt .. 98 65 177 146 175 193 893 IMF purchases .. 76 0 21 41 41 43 256 Principal repayments .. 0 68 200 157 234 143 120 Long-term external debt .. 0 42 145 103 185 103 85 IMF repurchases .. 0 26 55 54 49 40 35 Net flows .. -272 33 66 -30 44 245 1,126 Long-term external debt .. 98 23 32 43 -10 89 808 Short-term external debt .. -446 36 68 -60 62 152 97 Interest payments .. 20 49 34 30 34 38 70 Long-term external debt .. 17 43 31 27 31 31 58 IMF charges .. 3 5 2 1 1 1 2 Short-term external debt .. 0 1 2 2 2 6 11 2. Other non-debt resource flows Foreign direct investment (net) .. 6 131 492 453 1,170 1,750 1,564 Portfolio equity flows .. 0 0 0 3 143 34 118 Profit remittances on FDI .. 0 0 100 116 94 298 361 Grants (excluding technical coop.) .. 85 57 138 109 143 239 626 of which: Debt forgiveness grants .. .. 0 0 0 0 54 2 IDA grants .. .. .. 0 7 3 4 3 Memo: technical coop. grants .. 37 83 100 129 127 61 88 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 20.9 20.2 15.5 17.4 12.0 Japanese yen .. 0.0 0.2 2.8 2.7 3.0 3.1 2.6 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.4 0.2 0.2 0.2 0.0 0.0 0.0 U.S.dollars .. 75.3 82.3 73.0 72.7 76.2 72.1 75.5 4. Average terms of new commitments Official creditors Interest (%) .. 1.5 1.1 1.3 0.8 1.4 0.8 1.3 Maturity (years) .. 32.3 32.0 33.3 40.3 34.8 26.9 25.4 Grace period (years) .. 9.6 8.9 9.9 10.7 8.8 10.2 8.7 Private creditors Interest (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 7.5 Maturity (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 5.0 Grace period (years) .. 0.0 0.0 0.0 0.0 0.0 0.0 5.0 5. Major economic aggregates Gross national income (GNI) .. 2,574 3,175 5,204 6,473 7,926 10,215 12,685 Exports of goods, services & income .. .. 939 1,963 2,545 3,046 3,909 4,482 Worker remit. & comp. of employees .. .. 274 303 346 485 695 732 Imports of goods & services .. .. 1,248 2,666 3,519 4,591 6,362 8,153 International reserves .. 199 116 387 479 931 1,361 1,480 Current account balance .. .. -269 -354 -710 -1,175 -2,009 -2,915 6. Ratios External debt stocks to exports (%) .. .. 174.5 105.2 75.0 64.7 58.7 75.4 External debt stocks to GNI (%) .. 48.2 51.6 39.7 29.5 24.9 22.5 26.6 Debt service to exports (%) .. .. 12.5 11.9 7.4 8.8 4.6 4.2 Short-term to external debt stocks (%) .. 6.9 2.7 5.1 2.6 5.5 11.3 10.6 Multilateral to external debt stocks (%) .. 19.7 29.2 40.5 42.9 45.9 44.2 35.2 Reserves to external debt stocks (%) .. 16.0 7.1 18.7 25.1 47.3 59.3 43.8 Reserves to imports (months) .. .. 1.1 1.7 1.6 2.4 2.6 2.2 130 GEORGIA 7. Long-term external debt Debt outstanding and disbursed .. 1,039 1,316 1,692 1,626 1,625 1,784 2,562 Public and publicly guaranteed .. 1,039 1,274 1,593 1,494 1,466 1,544 2,222 Official creditors .. 939 1,272 1,590 1,492 1,464 1,542 1,720 Multilateral .. 245 478 836 819 904 1,015 1,190 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 84 347 678 679 785 885 989 Bilateral .. 694 794 754 673 560 527 530 Private creditors .. 100 2 3 2 2 2 501 of which: Bonds .. 0 0 0 0 0 0 500 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 42 99 132 159 241 341 of which: Bonds .. 0 0 0 0 0 0 0 Disbursements .. 98 65 177 146 175 193 893 Public and publicly guaranteed .. 98 37 102 76 119 100 725 Official creditors .. 98 37 102 76 119 100 225 Multilateral .. 96 25 74 60 88 82 202 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 85 18 65 54 76 72 121 Bilateral .. 2 13 28 16 31 18 23 Private creditors .. 0 0 0 0 0 0 500 of which: Bonds .. 0 0 0 0 0 0 500 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 28 74 69 56 93 168 of which: Bonds .. 0 0 0 0 0 0 0 Principal repayments .. 0 42 145 103 185 103 85 Public and publicly guaranteed .. 0 41 133 80 166 86 40 Official creditors .. 0 41 133 80 165 85 40 Multilateral .. 0 5 21 10 47 15 19 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 0 0 2 4 7 10 Bilateral .. 0 35 112 70 119 71 21 Private creditors .. 0 0 0 0 0 0 0 of which: Bonds .. 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 2 11 23 19 17 45 of which: Bonds .. 0 0 0 0 0 0 0 Interest payments .. 17 43 31 27 31 31 58 Public and publicly guaranteed .. 17 42 28 23 24 23 44 Official creditors .. 17 42 27 23 24 23 25 Multilateral .. 0 8 10 11 11 10 13 of which: IBRD .. 0 0 0 0 0 0 0 IDA .. 0 3 5 6 6 6 7 Bilateral .. 17 34 18 12 13 13 12 Private creditors .. 0 0 0 0 0 0 19 of which: Bonds .. 0 0 0 0 0 0 19 Commercial banks .. 0 0 0 0 0 0 0 Private nonguaranteed .. 0 1 3 4 6 8 14 of which: Bonds .. 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. -210 -16 130 -156 61 327 1,083 Net flows on external debt .. -272 33 66 -30 44 245 1,126 Cross-currency valuation .. 18 -51 68 -123 81 76 -13 9. Debt restructurings Total amount rescheduled .. 0 0 61 57 44 0 0 Total amount forgiven .. 0 0 0 0 109 2 0 Debt buyback .. 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 54 56 61 60 74 48 52 56 Interest 22 22 22 21 20 19 18 17 Private creditors Principal 28 61 78 56 549 36 22 7 Interest 53 50 46 43 22 2 1 0 Notes: Long-term private nonguaranteed debt data only cover European Bank for Reconstruction and Development. 131 GHANA 1. Summary external debt data External debt stocks 3,734 5,495 6,116 7,053 6,731 3,188 4,463 4,970 Long-term external debt 2,670 4,227 5,251 5,879 5,727 1,886 3,031 3,452 Public and publicly guaranteed 2,637 4,200 4,994 5,879 5,727 1,886 3,031 3,412 Private nonguaranteed 33 27 257 0 0 0 0 39 Use of IMF credit 745 648 293 468 417 159 167 162 Short-term external debt 320 620 572 706 587 1,143 1,266 1,356 interest arrears on long-term 56 26 10 19 9 19 11 9 Memorandum items 77 86 25 35 19 42 31 29 2,637 4,200 4,994 5,879 5,727 1,886 3,031 3,412 33 27 257 0 0 0 0 39 632 620 453 498 352 477 1,124 2,559 External debt flows Disbursements 473 570 397 450 520 506 1,154 523 Long-term external debt 408 528 362 411 481 390 1,154 523 IMF purchases 65 42 35 39 39 116 0 0 Principal repayments 260 292 254 157 188 173 101 89 Long-term external debt 143 184 217 134 156 173 101 89 IMF repurchases 116 108 37 24 32 0 0 0 Net flows 312 349 7 305 223 879 1,184 527 Long-term external debt 265 344 144 278 325 217 1,053 435 Short-term external debt 98 71 -136 12 -109 546 131 92 Interest payments 104 95 134 85 95 85 79 146 Long-term external debt 55 57 95 58 72 56 46 112 IMF charges 37 10 1 2 2 0 1 1 Short-term external debt 12 28 38 25 21 29 32 33 2. Other non-debt resource flows Foreign direct investment (net) 15 107 166 139 145 636 855 2,112 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 7 17 17 97 94 92 135 172 Grants (excluding technical coop.) 449 238 225 1,909 1,007 5,110 742 764 of which: Debt forgiveness grants .. .. 2 1,330 486 4,556 0 0 IDA grants .. .. .. 66 24 5 10 16 Memo: technical coop. grants 61 108 125 138 123 141 93 102 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.1 3.2 11.5 11.2 12.1 Japanese yen 5.4 14.0 16.2 0.0 0.0 0.0 0.0 0.0 Pound sterling 3.0 5.2 2.1 0.1 0.0 0.1 0.0 0.0 Swiss franc 0.7 0.3 0.1 0.0 0.0 0.1 0.1 0.1 U.S.dollars 60.5 59.9 67.6 81.8 79.4 53.9 60.4 58.0 4. Average terms of new commitments Official creditors Interest (%) 2.1 1.5 1.4 0.9 0.8 0.7 0.8 2.1 Maturity (years) 35.4 34.8 34.7 38.4 43.0 41.8 38.6 27.1 Grace period (years) 9.4 9.4 8.9 9.5 10.3 10.3 10.0 7.2 Private creditors Interest (%) 8.1 6.4 6.2 3.3 0.8 2.8 8.5 2.7 Maturity (years) 8.2 6.6 10.2 15.2 40.2 11.8 10.1 13.6 Grace period (years) 2.1 1.3 2.7 4.9 10.7 2.4 10.0 2.9 5. Major economic aggregates Gross national income (GNI) 5,774 6,324 4,831 8,674 10,533 12,588 14,851 15,875 Exports of goods, services & income 955 1,613 2,489 3,534 4,051 5,302 6,205 7,282 Worker remit. & comp. of employees 6 17 32 82 99 105 117 128 Imports of goods & services 1,583 2,262 3,474 5,598 6,851 8,487 10,283 12,911 International reserves 309 804 309 1,750 1,897 2,269 .. .. Current account balance -223 -144 -387 -567 -1,105 -1,043 -2,151 -3,543 6. Ratios External debt stocks to exports (%) 391.1 340.7 245.8 199.6 166.1 60.1 71.9 68.2 External debt stocks to GNI (%) 64.7 86.9 126.6 81.3 63.9 25.3 30.1 31.3 Debt service to exports (%) 38.1 24.0 15.6 6.9 7.0 4.9 2.9 3.2 Short-term to external debt stocks (%) 8.6 11.3 9.4 10.0 8.7 35.9 28.4 27.3 Multilateral to external debt stocks (%) 49.4 54.3 59.9 72.5 74.9 38.9 34.7 37.5 Reserves to external debt stocks (%) 8.3 14.6 5.1 24.8 28.2 71.2 .. .. Reserves to imports (months) 2.3 4.3 1.1 3.8 3.3 3.2 .. .. 132 GHANA 7. Long-term external debt Debt outstanding and disbursed 2,670 4,227 5,251 5,879 5,727 1,886 3,031 3,452 Public and publicly guaranteed 2,637 4,200 4,994 5,879 5,727 1,886 3,031 3,412 Official creditors 2,424 3,847 4,703 5,456 5,312 1,445 1,766 2,100 Multilateral 1,846 2,982 3,663 5,117 5,041 1,239 1,551 1,862 of which: IBRD 113 59 9 2 0 0 0 0 IDA 1,310 2,375 3,130 4,309 4,234 815 1,087 1,330 Bilateral 578 865 1,039 339 271 206 215 238 Private creditors 213 352 292 423 415 441 1,265 1,312 of which: Bonds 0 0 0 0 0 0 750 750 Commercial banks 10 97 57 253 264 291 323 331 Private nonguaranteed 33 27 257 0 0 0 0 39 of which: Bonds 0 0 250 0 0 0 0 39 Disbursements 408 528 362 411 481 390 1,154 523 Public and publicly guaranteed 400 528 362 411 481 390 1,154 523 Official creditors 351 414 340 342 428 350 307 415 Multilateral 274 284 223 328 410 344 282 364 of which: IBRD 0 0 0 0 0 0 0 0 IDA 201 242 204 230 305 266 231 257 Bilateral 77 130 117 14 17 6 24 52 Private creditors 48 115 22 69 53 40 847 108 of which: Bonds 0 0 0 0 0 0 750 0 Commercial banks 9 64 14 66 49 29 46 53 Private nonguaranteed 8 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 143 184 217 134 156 173 101 89 Public and publicly guaranteed 135 179 214 133 156 173 101 89 Official creditors 64 108 141 105 117 141 51 48 Multilateral 29 73 68 27 42 69 30 23 of which: IBRD 10 15 8 2 2 0 0 0 IDA 2 8 25 11 15 34 1 1 Bilateral 35 34 74 77 75 73 21 26 Private creditors 71 72 73 28 40 31 50 40 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 17 2 27 10 20 17 33 33 Private nonguaranteed 8 5 3 1 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 55 57 95 58 72 56 46 112 Public and publicly guaranteed 53 55 80 58 72 56 46 110 Official creditors 42 50 64 44 54 40 26 26 Multilateral 30 40 39 38 42 31 17 18 of which: IBRD 9 6 1 0 0 0 0 0 IDA 8 17 22 28 31 19 8 9 Bilateral 12 10 26 6 13 9 8 8 Private creditors 11 5 16 14 17 16 21 84 of which: Bonds 0 0 0 0 0 0 0 64 Commercial banks 2 0 4 4 11 11 15 14 Private nonguaranteed 2 2 14 0 0 0 0 2 of which: Bonds 0 0 14 0 0 0 0 2 8. Debt stock-flow reconciliation Total change in external debt stocks 440 394 -304 -515 -322 -3,543 1,275 507 Net flows on external debt 312 349 7 305 223 879 1,184 527 Cross-currency valuation 166 -120 -307 183 -458 -4,000 61 -30 9. Debt restructurings Total amount rescheduled 0 0 0 5 0 7 0 0 Total amount forgiven 102 0 0 1,129 72 4,258 0 15 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 69 75 109 111 102 94 104 124 Interest 33 40 43 44 43 42 40 38 Private creditors Principal 71 85 102 155 142 132 119 115 Interest 90 98 99 97 93 90 86 83 Notes: Long-term private nonguaranteed debt data only cover Bonds. Ghana was granted debt relief effective in 2006 under the Multilateral Debt Relief Initiative. Long- term public and publicly guaranteed debt data include the effects of Paris Club debt restructuring agreement signed in 2005. 133 GRENADA 1. Summary external debt data External debt stocks 110.8 127.0 201.4 432.2 406.4 492.2 524.9 519.0 Long-term external debt 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 Public and publicly guaranteed 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 9.1 8.4 9.5 7.7 13.0 Short-term external debt 12.9 14.6 21.6 76.3 6.5 35.0 49.1 59.9 interest arrears on long-term 6.9 6.6 4.5 13.3 4.5 6.0 12.1 10.9 Memorandum items 17.0 20.8 10.6 7.4 9.6 10.5 13.4 17.9 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.9 17.0 97.4 60.1 17.5 28.1 25.3 4.3 External debt flows Disbursements 14.8 4.9 77.6 59.0 38.5 27.8 23.6 20.6 Long-term external debt 14.8 4.9 77.6 54.6 38.5 25.5 23.6 12.1 IMF purchases 0.0 0.0 0.0 4.3 0.0 2.3 0.0 8.5 Principal repayments 1.7 5.6 10.1 10.5 5.5 7.5 8.5 14.4 Long-term external debt 1.3 5.6 10.1 10.5 5.5 5.9 6.2 11.5 IMF repurchases 0.5 0.0 0.0 0.0 0.0 1.6 2.2 2.9 Net flows 13.1 -1.7 63.4 45.5 -28.1 47.3 23.2 18.3 Long-term external debt 13.5 -0.8 67.5 44.2 32.9 19.6 17.4 0.7 Short-term external debt 0.0 -1.0 -4.1 -3.0 -61.0 27.0 8.0 12.0 Interest payments 1.6 2.3 4.4 19.0 4.9 8.0 9.5 9.1 Long-term external debt 1.2 1.7 3.4 17.0 3.3 6.8 7.9 7.6 IMF charges 0.0 0.0 0.0 0.1 0.3 0.4 0.4 0.2 Short-term external debt 0.4 0.5 1.0 1.9 1.3 0.8 1.3 1.3 2. Other non-debt resource flows Foreign direct investment (net) 12.9 20.0 37.4 65.0 70.2 89.8 174.2 161.2 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Profit remittances on FDI 8.4 12.6 27.8 24.9 22.7 22.0 27.0 26.3 Grants (excluding technical coop.) 4.2 8.1 7.1 12.6 37.3 4.4 7.3 12.1 of which: Debt forgiveness grants .. .. 0.0 0.0 0.0 0.0 0.1 0.0 IDA grants .. .. .. 0.0 0.0 0.0 0.0 0.0 Memo: technical coop. grants 2.8 3.8 4.7 1.2 1.7 1.2 0.6 1.3 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 0.6 0.4 0.3 0.3 0.4 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 34.5 33.7 6.3 0.3 0.2 0.0 0.0 0.7 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 57.3 59.7 78.7 91.1 91.3 92.2 92.2 90.6 4. Average terms of new commitments Official creditors Interest (%) 4.6 2.6 3.8 2.4 2.0 1.8 2.5 0.8 Maturity (years) 19.1 28.2 24.4 26.6 24.3 30.7 25.3 34.1 Grace period (years) 2.4 5.6 7.2 8.7 5.1 9.7 7.2 9.6 Private creditors Interest (%) 0.0 0.0 5.0 5.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 13.5 10.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 7.2 10.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 208.9 262.9 375.3 380.0 452.4 448.7 574.3 601.9 Exports of goods, services & income 105.5 148.4 265.0 248.5 187.1 202.3 237.2 .. Worker remit. & comp. of employees 18.0 18.0 22.0 72.2 51.6 53.9 55.4 64.0 Imports of goods & services 153.2 187.6 349.0 376.1 429.0 403.6 468.2 .. International reserves 17.6 36.7 57.7 121.7 94.3 100.0 110.6 105.3 Current account balance -46.2 -41.8 -88.1 -54.7 -186.4 -192.8 -222.4 .. 6. Ratios External debt stocks to exports (%) 105.0 85.6 76.0 173.9 217.2 243.3 221.3 .. External debt stocks to GNI (%) 53.0 48.3 53.7 113.7 89.8 109.7 91.4 86.2 Debt service to exports (%) 3.1 5.3 5.5 11.9 5.6 7.7 7.6 .. Short-term to external debt stocks (%) 11.6 11.5 10.7 17.7 1.6 7.1 9.4 11.5 Multilateral to external debt stocks (%) 35.7 39.6 31.4 21.8 27.4 26.1 28.5 28.7 Reserves to external debt stocks (%) 15.9 28.9 28.6 28.2 23.2 20.3 21.1 20.3 Reserves to imports (months) 1.4 2.4 2.0 3.9 2.6 3.0 2.8 .. 134 GRENADA 7. Long-term external debt Debt outstanding and disbursed 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 Public and publicly guaranteed 97.9 112.4 179.8 346.7 391.5 447.7 468.1 446.1 Official creditors 95.0 104.7 116.8 141.5 172.7 206.2 227.4 233.5 Multilateral 39.5 50.3 63.3 94.3 111.2 128.7 149.5 148.9 of which: IBRD 0.0 0.0 2.2 7.8 10.1 9.0 12.0 11.5 IDA 5.5 7.3 9.6 21.3 22.9 27.8 34.8 36.6 Bilateral 55.4 54.4 53.5 47.2 61.4 77.5 77.9 84.6 Private creditors 2.9 7.7 63.0 205.2 218.9 241.5 240.7 212.7 of which: Bonds 0.0 0.0 26.6 171.3 214.3 239.4 239.4 210.3 Commercial banks 0.7 0.3 32.2 31.7 2.4 1.5 1.1 1.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 14.8 4.9 77.6 54.6 38.5 25.5 23.6 12.1 Public and publicly guaranteed 14.8 4.9 77.6 54.6 38.5 25.5 23.6 12.1 Official creditors 14.3 4.9 19.8 12.8 38.5 25.5 23.6 12.1 Multilateral 2.9 3.4 11.7 11.9 22.7 20.5 23.6 9.4 of which: IBRD 0.0 0.0 1.9 1.8 2.8 0.1 4.3 0.9 IDA 1.0 0.0 0.8 1.1 3.6 4.0 6.0 2.5 Bilateral 11.4 1.5 8.1 0.9 15.8 5.0 0.0 2.7 Private creditors 0.5 0.0 57.8 41.9 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 26.6 41.5 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 30.0 0.4 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.3 5.6 10.1 10.5 5.5 5.9 6.2 11.5 Public and publicly guaranteed 1.3 5.6 10.1 10.5 5.5 5.9 6.2 11.5 Official creditors 1.1 3.9 6.3 6.1 5.2 5.9 6.2 11.5 Multilateral 1.0 2.8 3.2 3.2 3.7 4.5 4.5 9.6 of which: IBRD 0.0 0.0 0.0 0.3 0.6 1.1 1.2 1.4 IDA 0.0 0.1 0.1 0.1 0.2 0.3 0.3 0.4 Bilateral 0.1 1.1 3.2 2.9 1.5 1.4 1.8 1.9 Private creditors 0.2 1.8 3.7 4.4 0.4 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.1 0.2 2.4 2.9 0.4 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 1.2 1.7 3.4 17.0 3.3 6.8 7.9 7.6 Public and publicly guaranteed 1.2 1.7 3.4 17.0 3.3 6.8 7.9 7.6 Official creditors 1.0 1.6 2.3 4.5 3.3 4.5 5.5 5.5 Multilateral 1.0 1.3 1.1 2.3 2.6 3.8 3.9 4.2 of which: IBRD 0.0 0.0 0.0 0.3 0.4 0.5 0.5 0.6 IDA 0.0 0.1 0.1 0.2 0.2 0.2 0.2 0.3 Bilateral 0.0 0.2 1.3 2.3 0.7 0.7 1.6 1.3 Private creditors 0.2 0.2 1.1 12.4 0.0 2.3 2.3 2.1 of which: Bonds 0.0 0.0 0.0 9.3 0.0 2.3 2.3 2.1 Commercial banks 0.2 0.1 1.1 3.1 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 21.8 -2.0 65.6 55.5 -25.7 85.8 32.7 -5.8 Net flows on external debt 13.1 -1.7 63.4 45.5 -28.1 47.3 23.2 18.3 Cross-currency valuation 6.3 0.2 -2.0 2.2 -3.3 2.3 3.2 -0.9 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 208.7 13.2 1.5 1.4 Total amount forgiven 0.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt Official creditors Principal 13.1 12.1 13.3 13.5 27.4 11.4 11.8 11.7 Interest 6.1 5.9 5.7 5.3 5.0 4.2 3.8 3.5 Private creditors Principal 0.2 0.2 0.2 5.7 0.0 0.0 0.0 0.0 Interest 11.9 11.9 11.9 21.1 21.0 28.1 28.1 37.4 Notes: Data include the effects of Paris Club debt restructuring agreement signed in 2006. 135 GUATEMALA 1. Summary external debt data External debt stocks 2,845 3,282 3,853 9,716 10,981 12,308 14,570 15,889 Long-term external debt 2,365 2,470 2,681 8,100 9,528 10,834 12,566 13,738 Public and publicly guaranteed 2,238 2,328 2,540 3,794 3,687 3,921 4,214 4,374 Private nonguaranteed 127 142 142 4,306 5,841 6,913 8,352 9,364 Use of IMF credit 67 0 0 0 0 0 0 0 Short-term external debt 414 811 1,172 1,616 1,453 1,474 2,004 2,151 interest arrears on long-term 207 219 317 414 414 0 0 0 Memorandum items 264 257 224 131 131 0 0 0 2,235 2,328 2,540 3,794 3,687 3,921 4,214 4,374 130 142 142 4,306 5,841 6,913 8,352 9,364 139 99 87 411 82 755 433 508 External debt flows Disbursements 166 200 210 953 2,184 2,240 2,738 2,155 Long-term external debt 166 200 210 953 2,184 2,240 2,738 2,155 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 123 213 188 726 705 831 1,034 1,009 Long-term external debt 111 213 188 726 705 831 1,034 1,009 IMF repurchases 12 0 0 0 0 0 0 0 Net flows 48 140 56 260 1,316 1,844 2,234 1,293 Long-term external debt 56 -13 22 227 1,479 1,409 1,704 1,146 Short-term external debt 4 153 34 33 -163 435 530 147 Interest payments 114 145 202 467 550 634 739 772 Long-term external debt 91 113 152 431 497 575 668 697 IMF charges 7 0 0 0 0 0 0 0 Short-term external debt 16 32 50 36 53 59 70 75 2. Other non-debt resource flows Foreign direct investment (net) 48 75 230 296 508 592 745 838 Portfolio equity flows 0 0 0 0 0 0 0 0 Profit remittances on FDI 37 95 248 270 370 607 819 886 Grants (excluding technical coop.) 69 106 145 135 198 410 470 459 of which: Debt forgiveness grants .. .. 0 0 0 179 179 179 IDA grants .. .. .. 0 0 0 0 0 Memo: technical coop. grants 87 91 87 121 96 117 79 111 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. .. 3.0 2.5 2.3 2.1 1.9 Japanese yen 0.0 2.5 2.9 3.7 3.5 3.3 3.1 3.7 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.5 0.2 0.0 0.0 0.0 0.0 0.0 U.S.dollars 51.6 54.8 75.0 83.9 85.7 86.9 88.1 88.6 4. Average terms of new commitments Official creditors Interest (%) 4.9 4.2 7.2 4.2 5.4 5.6 5.9 4.4 Maturity (years) 23.1 30.9 19.2 13.9 25.8 23.0 17.8 20.1 Grace period (years) 6.2 7.9 4.7 3.7 5.1 4.1 4.0 4.0 Private creditors Interest (%) 8.4 0.0 0.0 8.1 0.0 0.0 0.0 0.0 Maturity (years) 4.3 0.0 0.0 29.7 0.0 0.0 0.0 0.0 Grace period (years) 0.6 0.0 0.0 29.7 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 7,494 14,498 19,065 23,698 26,934 29,943 33,718 38,426 Exports of goods, services & income 1,695 3,228 4,640 9,042 10,113 11,715 13,477 14,592 Worker remit. & comp. of employees 119 358 596 2,627 3,067 3,700 4,236 4,451 Imports of goods & services 2,028 3,933 5,991 10,711 11,886 13,828 15,910 17,045 International reserves 362 783 1,806 3,522 3,777 4,055 4,315 4,654 Current account balance -213 -572 -1,050 -1,164 -1,241 -1,524 -1,786 -1,863 6. Ratios External debt stocks to exports (%) 167.9 101.7 83.0 107.5 108.6 105.1 108.1 108.9 External debt stocks to GNI (%) 38.0 22.6 20.2 41.0 40.8 41.1 43.2 41.3 Debt service to exports (%) 14.0 11.1 8.4 13.2 12.4 12.5 13.2 12.2 Short-term to external debt stocks (%) 14.5 24.7 30.4 16.6 13.2 12.0 13.8 13.5 Multilateral to external debt stocks (%) 36.4 30.4 38.0 21.1 18.3 19.7 19.9 19.2 Reserves to external debt stocks (%) 12.7 23.9 46.9 36.3 34.4 32.9 29.6 29.3 Reserves to imports (months) 2.1 2.4 3.6 3.9 3.8 3.5 3.3 3.3 136 GUATEMALA 7. Long-term external debt Debt outstanding and disbursed 2,365 2,470 2,681 8,100 9,528 10,834 12,566 13,738 Public and publicly guaranteed 2,238 2,328 2,540 3,794 3,687 3,921 4,214 4,374 Official creditors 1,684 1,787 2,098 2,557 2,451 2,815 3,258 3,419 Multilateral 1,036 998 1,462 2,046 2,011 2,429 2,897 3,054 of which: IBRD 293 158 296 478 479 642 740 806 IDA 0 0 0 0 0 0 0 0 Bilateral 648 789 635 511 440 386 362 366 Private creditors 553 541 442 1,237 1,237 1,105 955 955 of which: Bonds 190 264 245 1,105 1,105 1,105 955 955 Commercial banks 118 61 0 0 0 0 0 0 Private nonguaranteed 127 142 142 4,306 5,841 6,913 8,352 9,364 of which: Bonds 0 0 0 50 50 50 50 55 Disbursements 166 200 210 953 2,184 2,240 2,738 2,155 Public and publicly guaranteed 159 200 210 625 144 581 624 393 Official creditors 126 128 210 295 144 581 624 393 Multilateral 68 87 157 274 131 572 619 383 of which: IBRD 16 13 51 79 34 199 136 133 IDA 0 0 0 0 0 0 0 0 Bilateral 58 41 53 21 13 9 6 10 Private creditors 33 73 0 330 0 0 0 0 of which: Bonds 0 59 0 330 0 0 0 0 Commercial banks 14 2 0 0 0 0 0 0 Private nonguaranteed 7 0 0 329 2,041 1,659 2,114 1,762 of which: Bonds 0 0