74468 International Debt Statistics 2013 International Debt Statistics 2013 © 2013 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved 1 2 3 4 15 14 13 12 This work is a product of the staff of The World Bank with external contributions. Note that The World Bank does not necessarily own each component of the content included in the work. The World Bank therefore does not warrant that the use of the content contained in the work will not infringe on the rights of third parties. The risk of claims resulting from such infringement rests solely with you. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. 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License: Creative Commons Attribution CC BY 3.0 Translations—If you create a translation of this work, please add the following disclaimer along with the attribution: This translation was not created by The World Bank and should not be considered an official World Bank translation. The World Bank shall not be liable for any content or error in this translation. All queries on rights and licenses should be addressed to the Office of the Publisher, The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org. ISBN (paper): 978-0-8213-9787-9 ISBN (electronic): 978-0-8213-9788-6 DOI: 10.1596/978-0-8213-9787-9 Table of Contents Preface vii Bolivia, Plurinational State of 76 Bosnia and Herzegovina 78 Acknowledgments ix Botswana 80 Overview 1 Brazil 82 I. Developing Countries’ Debt Stocks Bulgaria 84 and Flows, 2011 2 Burkina Faso 86 II. Recent Trends in Official and Private Burundi 88 Debt Flows to Developing Countries 5 Cambodia 90 III. The Rapid Growth in Private Cameroon 92 Sector External Debt 8 Cape Verde 94 IV. External Debt Burden of Developing Central African Republic 96 Countries—Selected Indicators 9 Chad 98 V. Aggregate Net Capital Flows to Chile 100 Developing Regions 10 China 102 VI. Global Trends in External Debt and Colombia 104 Public Sector Debt 13 Comoros 106 Annex A: World Bank External and Congo, Democratic Republic of 108 Public Debt Data 15 Congo, Republic of 110 Annex B: Trends in IBRD and IDA Costa Rica 112 Financing to Developing Countries, 2011 16 Côte d’Ivoire 114 Djibouti 116 Summary Tables 19 Dominica 118 Regional and Income Group Dominican Republic 120 Aggregate Tables 31 Ecuador 122 Egypt, Arab Republic of 124 Country Tables 51 El Salvador 126 Afghanistan 52 Eritrea 128 Albania 54 Ethiopia 130 Algeria 56 Fiji 132 Angola 58 Gabon 134 Argentina 60 Gambia, The 136 Armenia 62 Georgia 138 Azerbaijan 64 Ghana 140 Bangladesh 66 Grenada 142 Belarus 68 Guatemala 144 Belize 70 Guinea 146 Benin 72 Guinea-Bissau 148 Bhutan 74 Guyana 150 v I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Haiti 152 Rwanda 240 Honduras 154 Samoa 242 India 156 São Tomé and Príncipe 244 Indonesia 158 Senegal 246 Iran, Islamic Republic of 160 Serbia 248 Jamaica 162 Seychelles 250 Jordan 164 Sierra Leone 252 Kazakhstan 166 Solomon Islands 254 Kenya 168 Somalia 256 Kosovo 170 South Africa 258 Kyrgyz Republic 172 Sri Lanka 260 Lao People’s Democratic Republic 174 St. Lucia 262 Latvia 176 St. Vincent and the Grenadines 264 Lebanon 178 Sudan 266 Lesotho 180 Swaziland 268 Liberia 182 Syrian Arab Republic 270 Lithuania 184 Tajikistan 272 Macedonia, Former Yugoslav Tanzania 274 Republic of 186 Thailand 276 Madagascar 188 Togo 278 Malawi 190 Tonga 280 Malaysia 192 Tunisia 282 Maldives 194 Turkey 284 Mali 196 Turkmenistan 286 Mauritania 198 Uganda 288 Mauritius 200 Ukraine 290 Mexico 202 Uruguay 292 Moldova 204 Uzbekistan 294 Mongolia 206 Vanuatu 296 Montenegro 208 Venezuela, República Bolivariana de 298 Morocco 210 Vietnam 300 Mozambique 212 Yemen, Republic of 302 Myanmar 214 Zambia 304 Nepal 216 Zimbabwe 306 Nicaragua 218 Niger 220 About the Data 309 Nigeria 222 Data Sources 309 Pakistan 224 Methodology 310 Panama 226 External Debt and Its Components 312 Papua New Guinea 228 Sources of the Macroeconomic Indicators 315 Paraguay 230 Country Groups 317 Peru 232 Philippines 234 Glossary 319 Romania 236 Russian Federation 238 Users’ Guide 323 vi Preface T he World Bank’s Debtor Reporting System (DRS), from which the aggregates and coun- try tables presented in this report are drawn, was Steps are continuously being taken to ensure that the data captured by the DRS mirror these developments and respond to the needs of debt established in 1951. The debt crisis of the 1980s managers and analysts. In this context, reporting brought increased attention to debt statistics requirements are periodically amended to reflect and to the World Debt Tables, the predecessor changes in borrowing patterns. Many developing to International Debt Statistics (IDS). Now the countries increasingly rely on financing raised in global financial crisis has once again heightened domestic markets, so we are exploring ways to awareness in developing countries of the impor- expand the coverage of public sector borrowing tance of managing their external obligations. in domestic markets. At the same time, we are Central to this process is the measurement and mindful that expanded coverage and efforts to monitoring of external debt stocks and flows enhance data accuracy and timeliness must be in a coordinated and comprehensive way. The balanced against the reporting burden imposed initial objective of the DRS was to support the on developing countries. In partnership with the World Bank’s assessment of the creditworthiness major providers of debt data management systems of its borrowers. It has since grown as a tool to to developing countries, the Commonwealth Sec- inform developing countries and the international retariat (COMSEC) and the United Nations Con- community of trends in external financing and ference on Trade and Development (UNCTAD), as a standard for the concepts and definitions on we are working toward established standard code which countries can base their own debt manage- and system links that enable countries to provide ment systems. their DRS reports electronically, in a seamless and Over the years, the external financing options 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 Shaida Badiee information on external obligations. Director, Development Data Group vii Acknowledgments T his volume was prepared by the Financial Data Team of the Development Data Group (DECDG), led by Ibrahim Levent under the DECDG; country economists reviewed the data tables. The work was carried out under the man- agement of Shaida Badiee. Valuable advice was supervision of Neil James Fantom, and com- provided by Operations and Strategy unit of the prising Nanasamudd Chhim, Wendy Huang, Vice Presidency. Hiroko Maeda, Evis Rucaj, Rubena Sukaj, Sun The production of this volume was managed Hwa Song, Maryna Taran, Rasiel Vellos, and by Azita Amjadi and Alison Kwong. The online Alagiriswamy Venkatesan, working closely with database was prepared by Shelley Fu and William other teams in the Development Economics Vice Prince, with technical support from Ramgopal Presidency’s Development Data Group. The team Erabelly and Malarvizhi Veerappan. The cover was assisted by Elysee Kiti. The system support was designed by Jomo Tariku. Staff members from team was led by Abdolreza Farivari. The over- External Affairs, Office of the Publisher, coordi- view of current developments was prepared by nated the publication and dissemination of the Malvina Pollock in consultation with the staff of book. ix . Overview I nternational Debt Statistics(IDS) presents data and analysis information on the external debt of developing countries for 2011, based on actual worldbank.org/qeds and www.worldbank.org/ qpsd, respectively. The main messages from the 2011 data are: flows and debt related transactions reported to the World Bank Debtor Reporting System (DRS) (a) Net debt inflows to developing countries were by 128 developing countries. It replaces Global $465 billion, 9 percent lower than the com- Development Finance, which has been discontin- parable figure for 2010. This outcome was ued, and provides users with comprehensive stock much better than many analysts had predicted and flow data on the external debt of individual given the incipient recovery in the global developing countries and for regional and analyti- economy in 2011 and the fallout from the cal groupings. As a service to users International Euro-zone crisis. The fall in net debt inflows Debt Statistics also set debt flows within the was due entirely to a drop in inflows from broader framework of aggregate net capital flows official creditors, $30 billion as compared to (debt and equity) to developing countries and $73 billion in 2010. Net inflows from private includes a summary analysis of trends in 2011. creditors, at 435 billion were almost identical An important new objective of International to those in 2010 but with an important shift Debt Statistics is also to showcase the broader in composition: net short-term debt inflows spectrum of debt data collected and compiled contracted by 27 percent, while medium term by the World Bank. These include the joint financing from commercial banks tripled to World Bank-IMF Quarterly External Debt Sta- $110 billion. tistics (QEDS) and the Public Sector Debt (PSD) (b) Aggregate net capital flows, debt and equity database launched in 2010. QEDS provide high combined fell to $1,107 billion in 2011, again frequency, quarterly data through mid-2012 for 9 percent lower than 2010 and below their 111 high income and developing countries, disag- 2007 pre-crisis peak. Measured in relation gregated by debtor type, maturity and borrowing to developing country gross national income instrument. The PSD database, to which 65 coun- (GNI), the decline in net capital flows was tries already report, also encompasses both high more striking: from 6.2 percent of GNI in income and developing countries and provides 2010 to 4.9 percent in 2011 and well short of quarterly information on the total debt (external the 8.5 percent recorded in 2007. The down- and domestic) of the general government, disag- turn was driven primarily by the collapse gregated by creditor type, maturity, currency and of portfolio equity flows, which plummeted borrowing instrument (see annex A for a more to −$2 billion, compared to a net inflow of detailed description of QEDS and PSD). In com- $120 billion in 2010. In contrast, foreign mon with the DRS, information in the QEDS direct investment continued its upward trajec- and PSD databases are fully accessible under tory, rising by 11 percent in 2011 to a record the World Bank Open Data Initiative at www. high of $644 billion. 1 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 (c) China is by far the largest recipient of net I. Developing Countries’ Debt Stocks capital flows among developing countries, and Flows, 2011 T accounting for 27 percent of net debt and he combined stock of developing countries’ 35 percent of net equity flows in 2011, and external debt rose from $4.4 trillion in 2010 dominates the direction of these flows to to $4.9 trillion at the end of 2011, reflecting net developing countries. When China is excluded, debt inflows of $464 billion, the upward effect the decline in net debt and net capital flows to of the year on year appreciation, vis-à-vis the developing countries in 2011 changes from U.S. dollar, of foreign currencies in which around 9 percent to 13 percent (net debt) and 3 percent one-third of developing countries external debt (net capital flows), respectively. is denominated, and debt forgiveness amount- (d) Countries reporting to the QEDS and PSD ing to $4 billion. Short-term debt was the fastest databases confirm that external debt and growing component, rising by 18 percent in 2011 public debt levels are, on average, much lower as compared to a 9 percent increase in the stock in developing countries than in high income of outstanding long term external debt. Most countries. The ratio of external debt to GNI short-term debt was trade related and, measured in developing countries averaged 22 percent against developing countries’ imports, decreased in 2011 compared to 124 percent in G7 slightly, to 17 percent compared to 18 percent in countries. Similarly, the general government 2010. The stock of long term debt at end 2011 debt of the Euro-zone (17) countries averaged was fairly evenly divided between publicly guar- 76 percent of gross domestic product (GDP) anteed debt, 51 percent, and debt owed to private in 2011, more than twice the comparable ratio nonguaranteed borrowers, 49 percent, although for the largest borrowers among developing the latter rose twice as fast as the former in 2011, countries. 12 percent as compared to 6 percent. This was a complete turnaround from 2010 when long term The remainder of the Overview is organized as public and publicly guaranteed debt rose at a rate follows. Section I analyzes the key factors driv- twice that of private nonguaranteed debt. Devel- ing the evolution of developing countries’ debt oping countries’ debt stock remained moderate, stocks and flows in 2011. Section II describes an average of 22 percent of GNI and 69 percent recent trends in external debt flows to develop- of export earnings and risks associated with the ing countries, including the financing pattern of fact that short-term debt constituted 26 percent of different categories of creditors and the concen- debt stock at end 2011 were mitigated by interna- tration of flows in specific countries and country tional reserves. The global economic crisis forced groups. Section III examines the remarkable some developing countries to draw down interna- growth of private nonguaranteed debt over the tional reserves but, in aggregate, developing coun- course of the decade and the parallel diversifi- tries recorded an accumulation of international cation of borrowing instruments available to reserves since the onset of the crisis: equivalent developing countries’ private sector borrowers. to 121 percent of external debt stock at end 2011 Section IV assesses the level of developing coun- (table I.1). tries’ external debt, measured in relation to key Net debt flows in 2011 were characterized by macroeconomic variables, notably GNI and a sharp fall in net inflows from official creditors, export earnings. Section V summarizes trends in resilience in those from private creditors, and an aggregate net capital flows, debt and equity, to improvement in maturity structure, with a marked developing countries in 2011. Section VI distills shift in lending by commercial banks and other the main messages for 2011 and the first half of financial institutions from short to long term debt. 2012 from the information reported to QEDS Overall net debt flows fell 8.6 percent in 2011 to and PSD databases for developing and high $465 billion ($508 billion in 2010), but remained income countries. Annex A provides users with a above their pre-crisis level. The decline was driven short overview of the coverage and content of the entirely by the fall in net inflows from official QEDS and PSD databases and annex B summa- creditors, which dropped to $30 billion, well rizes trends in lending by the World Bank (IBRD below half the previous year’s level ($73 billion). and IDA) in 2011. In contrast net debt inflows from private creditors, 2 O V E R V I E W Table I.1 External Debt Stock of Developing Countries and Selected Ratios, 2005–2011 $ billions 2005 2006 2007 2008 2009 2010 2011 Total External Debt Outstanding 2,577 2,802 3,422 3,678 3,923 4,412 4,876 Long-term (including IMF) 1,993 2,150 2,570 2,834 2,964 3,192 3,469 Public and publicly guaranteed (including IMF) 1,308 1,294 1,395 1,443 1,580 1,674 1,773 Private nonguaranteed 685 856 1,175 1,391 1,385 1,518 1,696 Short-term external debt 512 607 811 793 810 1,062 1,249 Ratios External debt outstanding to GNI (%) 27.4 25.0 24.6 22.1 24.1 22.7 21.5 External debt stocks to exports (%) 80.8 71.8 71.9 63.9 85.0 76.3 69.3 Reserves to external debt outstanding (%) 74.5 90.9 105.6 110.4 119.7 122.3 120.8 Short-term debt to imports (%) 16.2 16.2 17.5 13.9 17.3 17.9 17.2 Sources: World Bank Debtor Reporting System and International Monetary Fund. Note: GNI = gross national income; IMF = International Monetary Fund. Table I.2. Net Debt Flows to Developing Countries, 2001–2011 $ billions 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Net debt flows 51.2 8.6 81.0 120.5 138.8 200.0 487.8 229.2 159.6 508.2 464.5 Official creditors 30.9 6.8 –11.9 –24.3 –64.3 –68.9 1.6 30.4 81.0 73.2 30.0 Bilateral –3.6 –8.2 –13.6 –12.1 –31.6 –45.8 –10.6 –1.2 7.1 12.8 5.8 Multilateral 34.5 15.0 1.7 –12.2 –32.6 –23.1 12.2 31.7 73.9 60.4 24.1 World Bank 7.4 –0.5 –2.6 2.4 2.6 –0.3 5.2 7.2 18.3 22.4 6.6 IMF 19.5 14.2 2.4 –14.7 –40.2 –26.7 –5.1 10.8 26.8 13.8 0.5 Other multilateral 7.6 1.3 1.9 0.2 4.9 3.9 12.2 13.6 28.8 24.1 17.0 Private creditors 20.3 1.7 92.9 144.8 203.1 269.0 486.3 198.8 78.7 435.1 434.6 Net medium and long term debt flows 0.1 –1.0 38.2 86.1 118.0 171.1 284.8 216.0 60.9 177.6 245.3 Public and publicly guaranteed 3.3 3.8 1.5 40.8 33.3 17.7 50.8 6.2 40.8 85.5 71.4 Bonds 18.9 16.4 17.5 35.5 19.8 1.1 24.1 9.5 39.0 68.9 59.5 Banks and other private –15.6 –12.6 –15.9 5.3 13.5 16.6 26.7 –3.2 1.8 16.5 11.9 Private nonguaranteed –3.2 –4.8 36.7 45.3 84.7 153.4 234.0 209.7 20.1 92.1 173.9 Bonds 0.2 –2.4 1.3 2.1 25.5 32.4 42.8 –18.1 22.1 60.7 64.3 Banks and other private –3.5 –2.4 35.4 43.2 59.2 121.0 191.2 227.8 –1.9 31.3 109.6 Net short-term debt flows 20.3 2.8 54.7 58.6 85.1 97.9 201.4 –17.1 17.8 257.6 189.3 Source: World Bank Debtor Reporting System. Note: IMF = International Monetary Fund. $435 billion, were almost identical to their 2010 private sector borrowers (table I.2). Overall net level but with an important change in composition. debt flows fell less sharply than anticipated in Short-term inflows remained dominant, account- 2011 given the incipient recovery in the global ing for 44 percent of net debt inflows from private economy and the turmoil in the Euro-zone. How- creditors, but fell 27 percent in 2011 to $189 bil- ever, China, the single largest borrower among lion. This decline, and a 28 percent fall in medium developing countries, drove the global trend. When inflows from commercial banks to public sector China is excluded, net debt flows to developing borrowers, was offset by a more than tripling of countries falls to 13 percent in 2011, as compared medium term inflows from commercial banks to to their 2010 level. 3 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Viewed from the borrower perspective, trends emerging economies, namely those with the larg- in net debt inflows differed sharply in 2011. Those est external debt stock at end 2011, referred to to private sector borrowers proved resilient and hereafter as the top 10 borrowers. From 2005 to increased, albeit by a moderate 4 percent, in 2011 2011 the top 10 borrowers commanded between to $363 billion. In contrast net inflows to public 56 and 65 percent of annual net debt inflows to and publicly guaranteed borrowers plummeted by developing countries. Net debt inflows to the 36 percent to $101 billion (figure I.1). In parallel, top 10 borrowers fell by an average of 2 percent public and publicly guaranteed borrowers’ share of in 2011 from 2010 to $3.2 billion compared to net debt inflows fell to 22 percent, from 31 percent a 14 percent fall for other developing countries in 2010 and 76 percent in 2009. combined. There was a wide disparity in trend The external debt of developing countries among the top 10 borrowers in 2011 ranging is heavily concentrated in 10 middle-income from a 29 percent increase in net inflows to India as compared to a 67 percent decline in those to Figure I.1. Net Debt Inflows by Borrower Type Turkey. China recorded a relatively moderate, $ billions 10 percent increase in net inflows in 2011 but its 500 share of developing countries’ net debt inflows 400 remained dominant, 27 percent in 2011 up from 24 percent in 2010, and dictated the global trend. 300 When China is excluded, net debt inflows to 200 developing countries are shown to have fallen 100 10 percent in 2011. The BRICs (Brazil, the Rus- 0 sian Federation, India, and China) accounted –100 for 55 percent of net debt inflows to developing countries in 2011, unchanged from 2010. 00 01 02 03 04 05 06 07 08 09 10 11 Together the BRICs accounted for 40 percent, 20 20 20 20 20 20 20 20 20 20 20 20 Private sector nonguaranteed borrowers and the top 10 borrowers for 65 percent of the Public and publicly guaranteed borrowers end 2011 external debt stock owed by all devel- oping countries (table I.3). Source: World Bank Debtor Reporting System. Table I.3. Top 10 Borrowers-External Debt Stock 2011, and Net Inflows, 2010–2011 $ billions External debt stock end 2011 Net inflow 2010 Net inflow 2011 % change in net % of total net Country Amount % of total Amount Amount inflow 2011 flow 2011 China 685.4 14.1 115.2 127.1 10.3 27.4 Russian Federation 543.0 11.1 31.1 32.8 5.5 7.1 Brazil 404.3 8.3 70.8 51.9 –26.7 11.2 Turkey 307.0 6.3 21.9 7.1 –67.3 1.5 India 334.3 6.9 34.1 44.0 28.9 9.5 Mexico 287.0 5.9 43.9 43.2 –1.5 9.3 Indonesia 213.5 4.4 15.8 18.4 16.4 4.0 Ukraine 134.5 2.8 16.7 18.5 10.2 4.0 Romania 129.8 2.7 4.3 5.5 28.1 1.2 Kazakhstan 124.4 2.6 7.2 5.2 –26.8 1.1 Total top 10 borrowers 3,163.4 64.9 360.9 353.7 –2.0 76.2 Other developing countries 1,712.7 35.1 128.7 110.2 –14.4 23.8 All developing countries 4,876.0 100.0 489.6 463.8 –5.3 100.0 Source: World Bank Debtor Reporting System. 4 O V E R V I E W II. Recent Trends in Official and 2011. Net inflows to the former were down 30 Private Debt Flows to Developing percent from their 2010 level, while those to the Countries latter plunged to $2 billion ($18 billion in 2010) I n the wake of the global economic and financial (figure II.1). crisis that erupted in 2008, debt flows from pri- Gross inflows from multilateral institutions, vate creditors to developing countries contracted (defined as IMF purchases and disbursements on sharply while those from official creditors rose as loans from multilateral creditors) increased by 121 multilateral creditors, in particular the International percent between 2007 and 2009. The dominant Monetary Fund (IMF) and the World Bank, stepped factor behind this rapid rise was member countries’ in with emergency financing for countries most purchases from the IMF, which increased fourteen- impacted by the crisis. In 2009, net debt inflows fold in this period, and the 76 percent rise in dis- from official creditors exceeded those from private bursements from IBRD and IDA. However, this creditors for the first time since 2002. However, trend reversed in 2010 when disbursements from these financing patterns have proved to be short- multilateral creditors dropped by 12 percent, and lived and the economic rebound in most developing countries since 2010 has led to a strong resumption Figure II.1. Net Inflow from Multilateral Creditors, of inflows from private creditors and parallel con- 2008–2011 traction in financing from official creditors. $ billions Net debt inflows from official creditors in 35 the form of concessional and non-concessional 30 loans fell almost 60 percent in 2011 to $30 billion primarily as a consequence of the virtual cessation 25 of a net inflow of IMF financing to developing 20 countries and the collapse in net inflows from IBRD 15 which dropped to $2.1 billion from $17.1 billion in 10 2010 (see annex B for detailed information on lend- ing by the World Bank (IBRD and IDA) in 2011). 5 Net inflows from bilateral creditors were also down 0 to less than half of their 2010 level (Table II.1). ci d As tral be d ric d ia ric n Pa an ib an Af an Af ara As fic ia an So a a en Countries in Europe and Central Asia, and e a ar a th t h or as h th Asi C C ic Sa ut e er N E d b- Latin America and the Caribbean, who together an th Am st e Su dl Ea pe id tin M received around two-thirds of the $103 billion ro La Eu 2008 2009 2010 20011 in net debt inflows from multilateral creditors in 2008-2010, bore the brunt of the downturn in Source: World Bank Debtor Reporting System. Table II.1. Net Official Loan Financing to Developing Countries, 2005–2011 $ billions 2005 2006 2007 2008 2009 2010 2011 Total Official Creditors –64.3 –68.9 1.6 30.4 81.0 73.2 30.0 Bilateral –31.6 –45.8 –10.6 –1.2 7.1 12.8 5.8 Multilateral –32.6 –23.1 12.2 31.7 73.9 60.4 24.1 Of which: IBRD –2.9 –5.3 –0.4 2.7 11.8 17.1 2.1 IDA 5.6 5.0 5.5 4.6 6.5 5.3 4.5 IMF –40.2 –26.7 –5.1 10.8 26.8 13.8 0.5 Memorandum item: IDA grants 1.2 1.2 1.9 2.1 2.5 2.2 2.4 Source: World Bank Debtor Reporting System. Note: IBRD = International Bank for Reconstruction and Development; IDA = International Development Association; IMF = International Monetary Fund. 5 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 the downward trajectory accelerated in 2011 when and other financial institutions. These were charac- they fell a further 26 percent, driven by a 74 percent terized by a strong return of medium term financ- fall in IMF purchases by developing countries and a ing, which rose to $122 billion from $48 billion in 34 percent drop in disbursements from IBRD. 2010. In parallel, the net inflow of short-term debt There was also a decline in gross inflows from fell 27 percent to $189 billion (figure II.3) bilateral creditors. These fell 14 percent in 2011 Private sector borrowers were the beneficiary to $31 billion but remained at close to double of the recovery in long term financing from banks their pre-crisis level and accounted for just over and other financial institutions, much of it export a third of 2011 gross flows from official credi- or project related and often underwritten by a tors (figure II.2). Intra-developing country lend- guarantee from an export credit agency or mul- ing, or so-called South-South flows, continued tilateral institution. They saw net inflows more to be an increasingly important element in flows than triple in 2011 to $110 billion fueled by a from bilateral creditors, and new commitments, 30 percent rise in gross disbursements in 2011 and a leading indicator of the level and trajectory of only a very small 4 percent increase in principal future disbursements, point to a continuation repayments since much of the pre-crisis borrow- of this trend. In 2011, bilateral creditors signed ing has already been fully repaid. Over 80 percent new loan agreements totaling approximately $53 of these flows went to countries in Latin America billion, almost the same amount as in 2010, of and the Caribbean, and Europe and Central Asia. which China and Russia combined accounted for Comparable inflows to public sector borrowers two thirds. Loans from these two creditors are for fell almost 30 percent to $12 billion, primarily financing of large infrastructure projects, princi- largely as a result of decline in gross disburse- pally in the power and transport sector. ments. (figure II.4). Short-term debt inflows remained the single The Resilience of Lending by Private Creditors most important component of financing from pri- Net debt inflows from private creditors in 2011 vate creditors to developing countries, accounting were $435 billion, almost identical to those in for 44 percent of net debt inflows from private 2010 and only about 10 percent below their creditors in 2011. These flows, primarily trade pre-crisis peak in 2007. The change was in composition of inflows from commercial banks Figure II.3. Net Private Debt Inflows by Creditor Type, 2005–2011 Figure II.2. Gross Inflows from Bilateral and $ billions Multilateral Creditors to Developing Countries, 300 2000–2011 250 $ billions 45 200 40 35 150 30 25 100 20 15 50 10 5 0 0 0 01 02 03 04 05 06 07 08 09 10 11 0 −50 20 20 20 20 20 20 20 20 20 20 20 20 00 01 02 03 04 05 06 07 08 09 10 11 IMF IBRD IDA 20 20 20 20 20 20 20 20 20 20 20 20 Other multilateral Bilateral Banks and other private Source: World Bank Debtor Reporting System. Bonds Note: IBRD = International Bank for Reconstruction and Development; Short term IDA = International Development Association; IMF = International Monetary Fund. Source: World Bank Debtor Reporting System. 6 O V E R V I E W Figure II.4. Gross Long-Term Commercial Bank Table II.2. Net Short-Term Debt Flows by Flows to Developing Countries, 2000–2011 Developing Country Regions, 2007–2011 $ billions $ billions 500 2007 2008 2009 2010 2011 450 East Asia and the 400 Pacific 52.9 –13.3 65.0 148.9 144.9 Europe and Central 350 Asia 101.2 –16.9 –34.9 45.9 24.5 300 Latin America and 250 the Caribbean 23.9 2.6 –8.6 43.8 –3.0 200 Middle East and North Africa 3.3 –1.9 3.0 4.5 0.9 150 South Asia 13.1 8.0 2.7 11.8 22.5 100 Sub-Saharan Africa 7.0 4.4 –9.5 2.8 –0.5 50 All developing countries 201.4 –17.1 17.8 257.6 189.3 0 Of which: 00 01 02 03 04 05 06 07 08 09 10 11 top 10 borrowers 149.1 –29.8 30.2 208.6 171.2 20 20 20 20 20 20 20 20 20 20 20 20 Gross disbursements public borrowers Sources: World Bank Debtor Reporting System and Bank for Inter- Gross disbursements private sector borrowers national Settlements. Principal payments public borrowers Principal payments private sector borrowers Source: World Bank Debtor Reporting System. Bond issuance in international capital mar- kets by developing countries’ public and private borrowers held up well in 2011, totaling $188 related, were highly concentrated, with over billion, compared to the $182 billion issued in 75 percent of net short-term debt inflows in 2011 2010. The main driver was again issuance by cor- going to countries in East Asia and the Pacific. porate borrowers in developing countries. This They received $145 billion, an almost identical increased by 16 percent in 2011, bringing their amount to 2010, and of these flows, $129 bil- share of total 2011 bond issuance to 49 percent, lion, close to 90 percent of the regional total, up from 43 percent in 2010. Countries in Latin went to China. In sharp contrast, Latin America America and the Caribbean again led the way in and the Caribbean, which recorded a $44 billion corporate bond issuance. They rose 14 percent to inflow in 2010, registered a $3 billion outflow in $63 billion, and accounted for almost 70 percent 2011. The principal factor was the $50 billion of corporate bond issuances by all developing turnaround in flows to Brazil, which went from countries in 2011. The private sector in Brazil a net inflow of $26 billion in 2010 to an outflow and Mexico were the dominant players, with total of $23 billion in 2011, with long term commer- issuances of $31 billion and $18 billion, respec- cial bank financing replacing short-term debt. tively, of which around half were placed by the Elsewhere across the region, flows were mainly financial sector and the other half by large com- positive including a net inflow of $12 billion to panies. In East Asia and the Pacific region and Mexico ($11 billion in 2010). Inflows to Europe Europe and Central Asia the major players were and Central Asia in 2011 were only a little over Chinese, Russian and Turkish corporations. Sov- half those of the previous year with most of the ereign and public sector bond issues fell 7 percent downturn accounted for by the contraction in in 2011 from the previous year with most of this net inflow to Turkey, $6 billion as compared to decline due to the sharp drop in new issues by $28 billion in 2010. In South Asia the trend was India. The doubling of public sector bond issues in the opposite direction, with the net inflow in Sub-Saharan Africa was due largely to South in 2011 double that of 2010 on account of the Africa but Nigeria came to the market in January rapid rise in net inflow to India to $22 billion 2011 with a debut $500 million 10-year sover- ($10 billion in 2010) (table II.2). eign bond (table II.3). 7 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Table II.3. Bond Issuance by Developing Country Figure III.1. Stock of External Debt by Borrower Borrowers, 2010–2011 Type and Maturity, 2000–2011 $ billions $ billions Public Corporate 5,000 borrowers borrowers 4,500 2010 2011 2010 2011 4,000 3,500 East Asia and the Pacific 12.9 13.1 15.3 15.4 3,000 Europe and Central Asia 27.8 25.2 7.1 10.9 2,500 Latin America and 2,000 the Caribbean 43.2 46.7 55.0 62.7 1,500 Middle East and North Africa 5.5 4.0 0.0 0.0 1,000 South Asia 12.1 3.0 1.3 0.7 500 Sub-Saharan Africa 2.0 4.5 0.0 1.7 0 All developing countries 103.5 96.4 78.7 91.4 00 01 02 03 04 05 06 07 08 09 10 11 Of which: 20 20 20 20 20 20 20 20 20 20 20 20 top 10 borrowers 68.2 61.0 64.1 73.8 Short term Source: World Bank Debtor Reporting System. Public sector—long term Private sector—long term III. The Rapid Growth in Private Source: World Bank Debtor Reporting System. Sector External Debt T he increasingly important role of the private sector in the overall economic landscape of many developing countries is reflected in the term debt, primarily owed by private sector bor- rowers, the external obligations of the private sector in 2011 were equivalent to 17 percent of evolution of developing countries’ private non- developing countries’ GNI and 52 percent of their guaranteed external debt and the composition of export earnings. developing countries’ external debt stock. There is, The bulk of the borrowing has been by the as yet, no comprehensive international data series private sector in the more advanced emerging mar- on the external obligations of developing coun- ket countries, notably those in East Asia and the tries’ private sector. Many countries do not have Pacific, Europe and Central Asia, and Latin Amer- the mechanisms in place to collect and report on ica and the Caribbean. Taken together, these three this category of external obligations, but the im- regions accounted for 88 percent of long-term portance of setting up an appropriate institutional external obligations of developing countries’ private framework is widely recognized, and significant sector borrowers, down slightly from 93 percent in improvements have already been realized. Despite 2000. Over this period there has, however, been the current limitations, International Debt Statis- a noticeably shift in relative shares within these tics (IDS) draws on the data on private nonguar- regions. Whereas countries in Latin America and anteed external debt reported to the World Bank the Caribbean accounted for 49 percent in 2000, DRS and provides important and viable informa- their share had fallen to 29 percent by 2011. Simi- tion on overall trends. larly, external borrowing by the private sector in Over the past decade there has been a sig- countries in East Asia and the Pacific declined, nificant shift, marked by a rapid rise in debt owed almost halving the region’s share to 16 percent, to private sector borrowers and a corresponding from 30 percent in 2000. This was in stark con- fall in the external obligations of the public sec- trast to Europe and Central Asia where a rapid tor. In 2011, the long term external obligations of increase in private sector borrowing tripled the private sector borrowers in developing countries region’s share to 43 percent of the combined long- amounted to US$2,616 billion, more than two term debt obligations of private sector borrowers times their 2000 level (figure III.1). As a share in developing countries in 2011 from 14 percent of developing countries’ total long-term external in 2000 (figure III.2). However, these data need to obligations, those of private sector borrowers be interpreted with some caution, particularly in increased from 57 percent in 2000 to almost regard to those regions where external borrowing 75 percent in 2011. Taken together with short by the private sector is seen to be low, as typically 8 O V E R V I E W Figure III.2. Long-Term External Debt of Private the IFC of the World Bank Group, the European Sector Borrowers: Regional Distribution Bank for Reconstruction and Development (EBRD) Percent and the private lending arms of the regional devel- 60 opment banks. These institutions often operate in tandem with bilateral and commercial lending for 50 the financing of large-scale infrastructure projects. 40 30 20 IV. External Debt Burden of 10 Developing Countries—Selected Indicators F 0 rom the start of the decade to 2008, developing ia a Ea bea ca countries external debt indicators, measured ci d l A and ric d ric As Pa an Af an ib ri n Eu ic So ia a Af ar e C Am h f e a tra e th t s or as in terms of GNI and export earnings, improved ut th Asi en p n C ro ra N E th atin ha st e markedly. Over this period the combined stock of dl Sa L id e b- M developing countries’ external debt, measured in Su d an 2000 2005 2011 relation to export earnings, fell to 63.9 percent, Source: World Bank Debtor Reporting System. less than half its 2000 level, 129 percent. The cor- responding drop in the ratio of external debt stocks to developing countries’ GNI was from 37.9 per- it is often countries in these regions where mecha- cent to 22.1 percent. Several factors were at play, nisms for the capture and compilation of statistics including strong growth performance, a sharp rise on private sector borrowing remain weak. As an in export earnings due to increased export volumes, illustration, the International Finance Corpora- high international prices for primary commodi- tion (IFC), the private lending arm of the World ties and a marked shift in external financing from Bank Group, reported claims of around $6 billion debt to equity in a number of developing countries. in 2011 in direct loans and guaranteed syndicated In the case of low-income countries, large scale bank loans in Sub-Saharan Africa, where it is forgiveness of external debt obligations, primarily active in 31 countries. Most of these countries in the context of the Highly Indebted Poor Coun- do not report on private sector borrowing to the tries (HIPC) and Multilateral Debt Relief Initiative World Bank Debtor Reporting System. (MDRI) was also an important contributing factor. The rise in borrowing by developing coun- The global economic and financial crisis inter- tries’ private sector has been accompanied by a rupted the trend. In 2009 a sharp (20 percent) diversification of borrowing instruments, in partic- contraction in developing countries’ export earn- ular corporate bond issuance. In 2011, developing ings, coupled with increased external borrowing to country corporate bond issuance accounted for 19 finance current account deficits and fiscal stimulus percent of gross long term external inflows, com- measures, pushed the ratio of total external debt pared to 12 percent at the start of the decade. This outstanding to exports up to 85 percent, its highest type of external financing has however been highly level since 2005. The ratio of outstanding external concentrated in the large corporate sector of the debt to GNI also rose, to 24.2 percent, reflecting more advanced emerging market countries. Most the decline in developing countries’ combined GNI. private sector borrowers rely primarily on commer- However, despite continued global economic uncer- cial bank credit to finance trade or specific projects, tainty the majority of developing countries saw refinance debt and fund day-to-day operations. An their economy rebound strongly in 2010–2011. important reason for this is information asymmetry. This has translated into improvements in the ratio Because of their close relations with clients, banks of debt to GNI and to export earnings, 21.5 percent are often better positioned than bond investors and 69.3 percent, respectively, at end 2011 for all to gather information on prospective borrowers. developing countries combined (figure IV.1) Additionally, many private sector borrowers have The improvement in debt indicators was wide- no credit rating. Another increasingly important spread with all regions recording an improvement source of financing is multilateral institutions like in the ratio of external debt to export earnings in 9 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 2011, and the same was broadly true with regard debt to GNI and to export earnings for countries to the ratio of debt to GNI. In the regions where the in the region between 2008 and 2009. Both ratios ratio rose in 2011, Latin America and the Caribbean improved in 2010 and still further in 2011 to and South Asia, it did so only marginally. East Asia 43.1 percent and 111.8 percent, respectively, levels and the Pacific has the lowest debt burden measured only slightly above their pre-crisis (2008) level. The against both GNI and export earnings, despite top 10 borrowing countries have a ratio of debt a sharp increase in debt outstanding since 2009. to exports broadly comparable to that of other Countries in Europe and Central Asia are, on aver- developing countries. Measured in relation to GNI, age, the most heavily indebted among developing their debt burden is lower, an average of 19 percent countries and some of the most severely impacted by in 2011 compared to an average of 31 percent for the global economic crisis. This was reflected in the other developing countries (table IV.1). marked deterioration in the average ratio of external Developing countries have seen a significant improvement in external debt payment capac- ity over the past decade, measured as the ratio Figure IV.1. Key Debt Indicators: Trend 2000–2011 of external debt service to export earnings, and this trend continued in 2011 despite the further Percent 11 percent rise in their combined external debt 140 obligations. The average debt service to export ratio 120 for all developing countries combined dropped to 100 8.8 percent, compared to 11.3 percent in 2009 and 20.4 percent at the start of the decade. This is pri- 80 marily a consequence of increased export earnings 60 but it is also a direct outcome of debt restructuring 40 and outright debt relief from official and private creditors, in the context of the HIPC and MDRI and 20 additional bilateral debt relief. 0 00 01 02 03 04 05 06 07 08 09 10 11 20 20 20 20 20 20 20 20 20 20 20 20 External debt stocks to exports (%) V. Aggregate Net Capital Flows to External debt stocks to GNI (%) Developing Regions I Debt service to exports (%) nternational capital flows, debt and equity com- Short-term debt to imports (%) bined fell to $1,107 billion in 2011, 9 percent Sources: World Bank Debtor Reporting System and International lower than 2010 and below their 2007 pre-crisis Monetary Fund. Note: GNI = gross national income. peak. Measured in relation to developing country Table IV.1. Debt Indicators for Developing Country Regions Percent Debt outstanding/GNI Debt outstanding/exports Country group 2008 2009 2010 2011 2008 2009 2010 2011 East Asia and the Pacific 13.1 13.8 14.2 13.5 32.5 43.3 41.0 39.9 Europe and Central Asia 40.2 52.4 47.7 43.1 106.7 156.1 136.3 111.8 Latin America and the Caribbean 21.7 24.3 22.4 22.7 87.2 115.3 106.8 99.0 Middle East and North Africa 15.9 17.3 16.4 15.0 39.5 51.5 51.5 44.5 South Asia 21.0 21.5 19.8 20.0 84.9 110.7 94.8 86.8 Sub-Saharan Africa 24.3 27.9 26.1 24.8 56.3 82.1 69.7 62.5 Top 10 borrowing countries 19.7 21.3 20.1 19.1 64.1 84.7 75.7 69.7 Other developing countries 28.0 31.4 31.7 31.2 68.1 93.2 83.3 76.9 All developing countries 22.1 24.2 22.7 21.5 63.9 85.0 76.4 69.3 Sources: World Bank Debtor Reporting System and International Monetary Fund. Note: GNI = gross national income. 10 O V E R V I E W GNI, the decline in net capital flows was more strik- business and regulatory environment and relatively ing: from 6.2 percent of GNI in 2010 to 4.9 percent high economic growth. In common with 2010, an in 2011 and well short of the 8.5 percent recorded important share of the 2011 investment resulted in 2007. The downturn was driven primarily by from cross-border mergers and acquisitions the collapse in portfolio equity flows, which plum- (M&A), which typically respond more rapidly to meted to −$2 billion, compared to a net inflow of changes in economic conditions, but greenfield $120 billion in 2010. In contrast, foreign direct in- investment held steady and, importantly, two thirds vestment continued its upward trajectory, rising by of this was directed at developing countries. South- 11 percent in 2011 to a record high of $644 billion. South investment, i.e. by one developing country As previously indicated the 10 percent decline in debt in another, fell by 5 percent in 2011 due in part related flows in 2011 resulted entirely from the fall to repatriation of intercompany loans by Brazilian in net debt inflows from official creditors. Foreign investors and stagnant flows from East Asia. How- direct investment was the single largest component ever, South-South investment accounted for over of capital flows to developing countries in 2011, 58 25 percent of global foreign direct investment. percent, up from 48 percent in 2010. Many develop- Among developing countries the 10 largest ing countries benefited from a further increase in recipients of foreign direct investment continued to workers’ remittances which were up 12 percent over dominate the direction of flows—as a group they their 2010 level to $355 billion (table V.1). absorbed over 70 percent of net foreign direct invest- ment in developing countries in 2011, but individu- Foreign Direct Investment ally, trends differed. Most of the top 10 recipients Around half of global foreign direct investment saw inflows increase from their 2010 level but with in 2011 was directed to developing countries, considerable variance in the pace of increase. It with investors attracted by improvements in the ranged from 12 percent in Chile to a doubling of Table V.1. Net Capital Flows to Developing Countries, Equity and Debt, 2001–2011 $ billions 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Net private and official inflows 216.9 171.9 264.7 373.3 513.1 705.8 1,180.2 812.6 701.7 1,211.1 1,106.8 Percent of GNI 3.8 2.9 4.0 4.7 5.4 6.3 8.5 4.9 4.3 6.2 4.9 Net equity inflows 165.7 163.3 183.8 252.8 374.3 505.7 692.3 583.3 542.1 702.9 642.2 Net FDI inflows 159.0 155.0 157.4 215.9 306.6 398.0 559.4 636.9 427.9 582.7 644.4 Net portfolio equity inflows 6.7 8.3 26.3 36.9 67.7 107.7 132.9 –53.6 114.2 120.2 –2.2 Net debt flows 51.2 8.6 81.0 120.5 138.8 200.1 487.9 229.3 159.7 508.3 464.6 Official creditors 30.9 6.8 –11.9 –24.3 –64.3 –68.9 1.6 30.4 81.0 73.2 30.0 World Bank 7.4 –0.5 –2.6 2.4 2.6 –0.3 5.2 7.2 18.3 22.4 6.6 IMF 19.5 14.2 2.4 –14.7 –40.2 –26.7 –5.1 10.8 26.8 13.8 0.5 Other official 4.0 –6.8 –11.7 –11.9 –26.7 –41.9 1.6 12.4 35.9 36.9 22.8 Private creditors 20.3 1.7 92.9 144.8 203.1 269.0 486.3 198.8 78.7 435.1 434.6 Net medium and long term debt flows 0.1 –1.0 38.2 86.1 118.0 171.1 284.8 216.0 60.9 177.5 245.3 Bonds 19.1 14.0 18.8 37.6 45.3 33.6 66.9 –8.6 61.0 129.7 123.8 Banks and other private –19.1 –15.0 19.4 48.5 72.7 137.5 217.9 224.6 –0.2 47.9 121.5 Net short-term debt flows 20.3 2.8 54.7 58.6 85.1 97.9 201.4 –17.1 17.8 257.6 189.3 Change in reserves (– = increase) –80.4 –157.0 –280.5 –393.0 –397.4 –625.1 –1,067.8 –448.9 –632.1 –702.0 –492.0 Memorandum items Workers remittances 90.0 108.0 133.7 154.7 180.0 213.6 259.7 301.0 285.0 315.6 355.0 Sources: World Bank Debtor Reporting System, International Monetary Fund, and Bank for International Settlements. Note: FDI = foreign direct investment; GNI = gross national income; IMF = International Monetary Fund. 11 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 inflows into the hydro-carbon sector in Kazakhstan demands of the emerging middle class across the and a 76 percent jump in Turkey where investment region. The net inflow of foreign direct investment focused on high value added, high-tech export- to countries in Latin America and the Caribbean oriented projects, and cross-border mergers and also reached record levels in 2011, $158 billion, acquisitions included two mega deals: BBVA’s (Spain) 26 percent higher than their 2010 level, driven by $5.9 billion acquisition of 25 percent of Turkiye expanding consumer markets, higher growth rates Garanti Bankasi and Valleres’ (United Kingdom) and natural resource endowments. Countries in $2.1 billion purchase of Genel Enerji. Among other Europe and Central Asia realized on average a 35 major recipients, Brazil saw the net inflow of foreign percent increase in net inflows in 2011 with several direct investment rise 34 percent; net inflows to both factors at play: competitive production costs and India and Russia were up 22 percent. Only two access to European Union markets, Russia’s acces- countries in the group, China and Mexico, recorded sion to the World Trade Organization, improved a decline in net inflow of foreign direct investment in business climates and new privatization programs 2011, 10 percent and 6 percent, respectively (figure in extractive industries, utilities, banking and tele- V.1). In China, inflows to the service sector contin- communications. In South Asia, inflows staged ued to rise but those to the manufacturing sector are a turnaround from their 2009–2010 slide, rising starting to come under pressure due to rising wage 18 percent to $36 billion, primarily as a result of and production costs. However, China remained the the sharp increase in inflows to India, spurred on single largest recipient of foreign direct investment by mergers and acquisitions in extractive indus- among both developed and developing countries: it tries. India accounts for more than 90 percent of accounted for 34 percent of net foreign direct invest- foreign direct investment in the region. ment inflows to developing countries in 2011. The East Asia and the Pacific region continued At the regional level, net inflows to sub- to account for the largest share of net inflows of Saharan Africa rose the fastest, up 55 percent in foreign direct investment to developing countries, 2011 to an all-time high of $41 billion. A rebound 43 percent in 2011, but after surging in 2010 the in foreign direct investment to South Africa, a net inflow of foreign direct investment declined by continued rise in commodity prices and relatively 5 percent in 2011. However, this was primarily due positive outlook for the region as a whole under- to the 10 percent drop in inflows to China, which pinned the recovery. The traditional pattern of dominated the regional outcome. When China is investment in oil and other mineral extraction excluded inflows to countries in the East Asia and industries continued, but 2011 also saw increased the Pacific region are shown to have risen on average foreign direct investment in services (banking, by 18 percent in 2011. The Middle East and North retail and telecommunications) in response to the Africa was the only other region to see net inflows fall in 2011. They plunged by 31 percent as politi- cal instability across the region brought flows to a Figure V.1. Net Foreign Direct Investment Inflows to Major Recipients, 2009–2011 halt in a number of countries. Egypt, the region’s largest recipient of foreign direct investment, saw $ billions flows turn sharply negative (−$0.5 billion) in 2011 China as compared to a net inflow of $6.4 billion in 2010; Brazil inflows to Lebanon were pulled down by a slow- Russian Federation down in the real estate sector. There were, however, India some bright spots, with inflows to Morocco up Mexico $1 billion in 2011 largely on account of investment Indonesia in automobile production by Renault (France). Chile Turkey Portfolio Equity Flows Colombia Portfolio equity flows again proved to be the most Kazakhstan volatile of all capital flows in 2011. After falling 0 50 100 150 200 250 300 precipitously following the advent of the global eco- 2011 2010 2009 nomic crisis in 2008 portfolio equity flows recov- Sources: International Monetary Fund and World Bank estimates. ered rapidly in 2009 and 2010, particularly to those 12 O V E R V I E W Table V.2. Net Inflow of Portfolio Equity to Major Recipients, 2005–2011 $ billions 2005 2006 2007 2008 2009 2010 2011 China 20.6 42.9 18.5 8.5 29.1 31.4 5.3 Brazil 6.5 7.7 26.2 –7.6 37.1 37.7 6.2 India 12.2 9.5 32.9 –15.0 24.7 30.4 –4.1 South Africa 7.2 15.0 8.7 –4.7 9.4 5.8 –3.8 Turkey 5.7 1.9 5.1 0.7 2.8 3.5 –1.0 Thailand 5.1 5.2 4.3 –3.8 1.7 2.6 0.5 Vietnam 0.1 1.3 6.2 –0.6 0.1 2.4 1.1 Chile 1.6 –0.1 0.4 1.9 0.3 1.8 4.5 Nigeria 0.8 1.8 1.4 –1.0 0.5 2.2 2.6 Indonesia –0.2 1.9 3.6 0.3 0.8 2.1 –0.3 Top 10 recipients 59.5 87.1 107.3 –21.2 106.5 119.8 10.9 Other developing countries 8.2 20.6 25.6 –32.4 7.7 0.4 –13.1 Of which: Philippines 1.5 2.5 3.2 –1.3 –1.1 0.5 1.0 Mexico 3.4 2.8 –0.5 –3.5 4.2 0.6 –6.2 Russian Federation –0.1 6.5 18.7 –15.0 3.4 –4.8 –9.7 Total all developing countries 67.7 107.7 132.9 –53.6 114.2 120.2 –2.2 Source: International Monetary Fund. emerging markets viewed as having good growth advanced economies in recent years. This is illus- prospects. Net inflows totaled $108 billion in 2009, trated by the G7 countries where, since 2006, ex- a spectacular turnaround from the $54 billion ternal debt stocks (measured on a gross basis) have outflow of 2008, and rose a further 22 percent in risen on average by close to 30 percent to $42.5 tril- 2010 to $120 billion as investor concerns receded lion at end 2011. Japan has the fastest rise in exter- and stock markets in several emerging markets hit nal debt; its obligations more than doubled during record levels. But, in 2011 a combination of factors this period, followed by Canada, up 71 percent and sent portfolio equity flows into a tailspin, resulting the United States 38 percent (table VI.1). Over the in a net outflow of $2 billion. In part, flows slowed same period the external debt of developing coun- in response to policy actions by emerging markets tries, measured on the basis of the top 10 develop- to address concerns about inflationary pressures ing country borrowers, has risen three times as fast and destabilization of currencies and domestic as that of the G7 countries. On average, around financial markets. Investors were also deterred by 26 percent of the external obligations of G7 coun- the weaker global economic outlook and potential tries are owed by governments and 45 percent con- fallout from the Euro-zone crisis. The net inflow stitute short-term debt. of portfolio equity flows to the top two recipients, When viewed in relation to gross domestic Brazil and China, fell to one-sixth their 2010 level, product (GDP), G7 countries are far more heavily and those to India plunged to an outflow of $4 bil- indebted than their developing country counter- lion in 2011 from an inflow of $30 billion in 2010. parts. The stock of external debt of G7 countries There were, however, some bright spots such as has risen from an average of 115 percent of GDP in Chile, and investors were also attracted to opportu- 2006 to 126 percent in 2011, peaking at 128 percent nities in Africa, notably Nigeria (table V.2). in 2008. Even after excluding the United Kingdom, where gross external debt levels are impacted by its role in global financial markets, the average external VI. Global Trends in External Debt debt to GDP ratio remains above 100 percent. This and Public Sector Debt is in stark contrast to developing countries where T he data reported to QEDS by developing and high income countries show a marked increase in the gross external debt position of the key the comparable ratio for the top 10 borrowers aver- aged 18.9 percent in 2011, down from 21.6 percent in 2006 (figure VI.1). 13 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Table VI.1. G7 Countries, External Debt Stock, 2006–2011 $ billions 2006 2007 2008 2009 2010 2011 Canada 696.6 831.7 839.6 997.5 1,107.0 1,190.9 France 3,817.6 4,841.9 4,879.5 5,164.3 5,119.1 5,003.8 Germany 4,219.2 5,115.5 5,125.7 5,114.1 5,221.2 5,338.2 Italy 2,108.0 2,549.3 2,395.3 2,551.2 2,435.2 2,349.7 Japan 1,512.9 1,767.8 2,230.6 2,086.4 2,588.6 3,115.2 United Kingdom 9,239.3 11,260.6 9,106.7 9,409.5 9,483.0 9,976.2 United States 11,204.1 13,427.1 13,749.6 13,661.8 14,516.5 15,508.2 Total G7 countries 32,797.8 39,794.0 38,327.0 38,984.7 40,470.6 42,482.0 Source: World Bank Quarterly External Debt Database. Figure VI.1. External Debt to GDP Ratio, 2006–2011, Figure VI.2. Selected High-Income and Developing for Selected Country Groups Countries, External Debt to GDP Ratio, 2011 Percent Percent 140 200 180 160 120 140 120 100 100 80 60 40 80 20 0 Br a In il M dia Fe one o de sia Tu ion Ka Ja ey kh n C tan om a U U ania St e es Fr ny ce er ly 60 az n an d ic za pa R nad d in G Ita rk at a an hi si In ex t te a s ra m C ni kr a 40 us R 20 Sources: International Monetary Fund and World Bank Quarterly External Debt Database. 0 2006 2007 2008 2009 2010 2011 G7 Countries G7 Countries excluding the United Kingdom of 7 percent over the end 2011 level (figure VI.3). Top 10 Developing Countries However, growth kept pace, resulting in a very slight Sources: International Monetary Fund and World Bank Quarterly improvement in the external debt to GDP ratio to External Debt Database. just below 19 percent at mid-2012. Since the onset of the global economic crisis in 2008, the level of public debt has increased signifi- At the country level the disparity in the external cantly in many countries but this has been particularly debt to GDP ratio at end 2011 was wide, ranging pronounced in the world’s more advanced economies. from as low as 9.5 percent in China to 180 percent In the 17 Euro-zone countries, government debt to in France (figure VI.2) and the United Kingdom (an GDP rose from an average of 56 percent in 2008 outlier and excluded from the chart) with an exter- to 76 percent in 2011, according to the information nal debt to GDP ratio of 410.3 percent. reported to the World Bank’s Public Sector Debt data- Data for the first half of 2012 indicate the exter- base. And this average masks a sharp run-up in gov- nal debt stock of G7 countries has slightly changed ernment debt and very elevated debt to GDP ratios in from its end 2011 level and is also broadly the same countries where the impact of the crisis is most severe. in relation to GDP. In contrast, the external debt of In Greece, for example, government debt rose to the top 10 developing country borrowers rose to 165 percent of GDP at end 2011 from 113 percent $3.4 trillion at end June 2012, an average increase going into the crisis in 2008 (table VI.2). 14 O V E R V I E W Figure VI.3. Top 10 Developing Country Borrowers, Figure VI.4. Select Countries: General Government External Debt Stock 2012 to mid-2012 Debt to GDP Ratio, 2008–2011 $ billions Percent 180 China Russian 160 Federation 140 Brazil 120 India 100 80 Turkey 60 Mexico 40 Indonesia 20 Kazakhstan 0 ce Po y Ire l nd n il ey o na ga az l ai ic Ita e rk la hi Ukraine ex rtu Sp Br re Tu C M G Romania 2008 2009 2010 2011 0 200 400 600 800 1000 Source: World Bank Public Sector Debt Database. mid-2012 2011 Note: GDP = gross domestic product. Sources: International Monetary Fund and World Bank Quarterly External Debt Database. trajectory. In Brazil, it dropped from 64 percent Table VI.2. Euro-Zone 17 Countries, General (2008) to 53 percent in 2011 and in Turkey it fell Government Debt as a Percent of GDP, 2008–2011 from 49 percent to 40 percent, and for China, the Percent largest of all developing country borrowers, it was 2008 2009 2010 2011 only 15 percent in 2011 (figure VI.4). Austria 63.8 69.2 71.8 72.3 Belgium 92.7 99.8 99.5 101.9 Cyprus 48.9 58.5 61.5 71.6 Estonia 4.5 7.2 6.7 6.0 Annex A: World Bank External and Finland 33.9 43.5 48.4 48.6 Public Debt Data France Germany Greece 75.5 66.7 113.0 87.2 74.4 129.4 90.6 83.0 145.0 96.2 81.2 165.3 S ince its inception the World Bank has played a leading role in the compilation and dissemina- tion of data on the external debt of developing Ireland 48.2 68.7 95.7 109.8 countries. The World Bank Debtor Reporting Italy 105.7 116.0 118.6 120.1 System (DRS), on which the country pages and Luxembourg 13.7 14.8 19.1 18.2 regional aggregates in this edition of International Malta 62.3 68.1 69.4 72.0 Debt Statistics are based, has been in existence for Netherlands 63.0 65.6 68.6 70.6 Portugal 74.8 86.9 98.3 112.3 over 60 years. It provides policymakers and ana- Slovak Republic 27.9 35.6 41.1 43.3 lysts with a long time series of detailed information Slovenia 21.9 35.3 38.8 47.6 on developing countries’ external debt stocks and Spain 35.4 48.6 54.7 60.7 flows for both public and private sector borrow- Total Euro-zone 17 56.0 65.2 71.2 76.3 ers. More recently, however, the World Bank has Source: World Bank Public Sector Debt Database. instituted additional debt data series in response Note: GDP = gross domestic product. to changing global circumstance, evolving borrow- ing patterns and user demand. These include the In the five countries at the center of the ongo- Quarterly External Debt Statistics (QEDS) data- ing Euro-zone crisis the ratio of general govern- base and the Public Sector Debt (PSD) database, ment debt to GDP rose in each successive year which like the DRS data, are available online as since 2008 and, with the exception of Spain, was part of the World Bank Open Data Initiative. well over 100 percent in 2011. This contrasts The QEDS database was developed jointly by with outcomes in some of the largest developing the International Monetary Fund and the World country borrowers where, over the same period, Bank in the wake of the 1997 Asian crisis in the comparable ratio has been on a downward response to widespread demand for comprehensive 15 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 and readily available high frequency data to facili- The PSD database is also designed to meet the wide- tate macroeconomic analysis and cross-country data spread consensus among policymakers, academics, comparisons at the global level. The data are com- and market participants that any assessment of vul- piled and classified in accordance with the Interna- nerability to shocks, constraints on fiscal policy, and tional Monetary Fund Special Data Dissemination measurement of government liquidity and solvency Standard (SDDS) or General Data Dissemination must be made on a comprehensive basis, taking System (GDDS) standards. They provide quarterly into account all type of public sector debt. As with information on the stock of outstanding external QEDS, reporting to the PSD database is voluntary liabilities, categorized by maturity and borrowing but country response has been strong. To date a instrument. Reporting to the QEDS centralized total of 25 high income countries and 64 developing database is strongly encouraged but participation countries have agreed to participate. A total of 65 is voluntary. To date 70 countries have agreed to countries already provide data to the PSD database. participate in the SDDS/QEDS database, of which 69 countries currently provide data. A further 48 countries have agreed to participate in the GDDS/QEDS database, of which 42 countries have Annex B: Trends in IBRD and IDA thus far reported to the database. Financing to Developing Countries, One important difference between the DRS and 2011 the QEDS database is country coverage. Countries reporting to the DRS are those that borrow from the World Bank (IBRD and IDA). However, QEDS I n 2011 the World Bank (IBRD and IDA) extended $34.4 billion in new loan commitments and made disbursements (from these commitments and the is open to any country, developing or high income, undisbursed pipeline of commitments made in prior that accepts the reporting standards and agrees to years) of $25.7 billion: equivalent to 48 percent participate: 35 of the countries currently provid- and 44 percent, respectively, of commitments and ing data to the QEDS are high income. QEDS data disbursements from all multilateral institutions relate only to debt stocks, but the extended country combined (excluding the IMF) to public sector bor- coverage and quarterly update provides the basis rowers in 2011. IBRD and IDA also provide finan- for a timely analysis of external debt and borrow- cial support to public sector borrowers in the form ing trends on a global basis. QEDS data also serve of grants (IDA) and guarantees, while other parts of to complement information captured through the the World Bank Group, IFC and Multilateral Invest- DRS and to provide a leading indicator for current ment Guarantee Agency (MIGA), provide loans and year trends in the level and pattern of external bor- guarantees to private sector borrowers in develop- rowing by developing countries. ing countries (box annex B1). In conjunction with the Open Data Initiative, Trends in IBRD Financing: New IBRD loan in December 2010 the World Bank launched an commitments signed in 2011 totaled $20.8 bil- online quarterly, Public Sector Debt (PSD) database. lion down by over a third from their 2010 level. As with QEDS this database was also developed in Countries in Latin America and the Caribbean partnership with the IMF to address the demand for received a larger share of IBRD commitments comprehensive, high frequency data measuring the than any other region in 2011, 28 percent, but totality of countries’ public sector debt obligations, they also bore the brunt of the overall decline. domestic and external. The volume of public debt IBRD commitments to the region totaled $5.8 issued in domestic markets has grown substantially billion in 2011, less than half the $12.4 billion in recent years as options for borrowing in these received in 2010. South Asia recorded an increase markets have expanded and governments have used in IBRD commitments in 2011, this on account of issuance in domestic currency to reduce exposure to a jump in new commitments to India, $3.7 billion exchange rate fluctuations and to correct currency compared to $2 billion in 2010, making India the and maturity mismatch. Domestic debt now repre- single largest recipient of IBRD commitments in sents a significant portion of public sector debt in 2011. In all regions, commitments in 2011 were both high income and developing countries, particu- lower than in the previous year, with those to Sub- larly the more advanced emerging markets, and in Saharan Africa recording the steepest decline, but some cases by far exceeds total external debt levels. this has to be viewed against the unprecedented 16 O V E R V I E W Box Annex B1. World Bank Group Financing to Developing Countries Financing from the World Bank Group takes a variety of forms: loans and guarantees from IBRD and loans, grants and guarantees from IDA to the public sector of the borrowing country; loans and equity financing from IFC to the private sector; and investment guarantees from MIGA. Financing by the World Bank Group is captured in the data presented in International Development Sta- tistics as follows: • Loans from IBRD and IDA constitute part of the borrowing country’s public and publicly guaranteed debt and are also separately identified by source. • Grants provided by IDA are recorded in official grants (published in online database). • Loan financing from IFC is recorded as part of private, nonguaranteed debt. • Equity financing from IFC and investments guaranteed by MIGA are recorded as part of foreign direct investment. IBRD and IDA guarantees do not represent financing and are only recorded as a flow of funds if the guarantee is invoked. Source: World Bank Debtor Reporting System. level of commitments in 2010 as a consequence Figure B1. IBRD Disbursements – Regional of the $3.8 billion extended to South Africa’s Distribution, 2009–2011 power utility company, Eskom. The concentration $ millions of IBRD commitments moderated: 10 borrowers 12,000 accounted for 77 percent of new IBRD loans in 10,000 2011 compared to 85 percent in 2010. 8,000 Disbursements by IBRD from commitments 6,000 made in 2011, and the undisbursed pipeline of 4,000 commitments made in prior years, fell 34 percent 2,000 in 2011 from their prior year’s level. The Middle 0 East and North Africa was the only region to Eu ean d Ea l A and ci d So ica t ia ric n Af as ib an Pa an Af ara As st sia fic a th E ar a tra e e a h h or le record an increase in IBRD disbursements in 2011, r C ic en p th Asi Sa ut b C ro d e er d b- th Am i M Su driven up by higher inflows to Morocco and Tuni- N tin d La sia. Disbursements to countries in South Asia and an East Asia plummeted in line with the rapid fall in 2009 2010 2011 disbursements to India to $1 billion ($3.3 billion Source: World Bank Debtor Reporting System. in 2010), and those to the Latin America and the Caribbean region fell 46 percent, with disburse- ments to Brazil over $2 billion less than in 2010 Figure B2. Top 10 Recipients of IBRD and those to Colombia down by more than $1 bil- Disbursements, 2011 lion. However, the region continued to command $ millions the largest share of IBRD disbursements, 35 percent Mexico of 2011 disbursements, followed by Europe and Brazil Central Asia with 26 percent (figure B1). Turkey IBRD disbursements remained heavily concen- Indonesia trated, with 75 percent going to the top 10 borrowers China Romania in 2011 (figure B2). Countries reporting to the World India Bank Debtor Reporting System1 had outstanding Philippines obligations to IBRD of $126 billion at end 2011. Of Argentina this amount over half (55 percent) was owed by six Morocco borrowers: in order of importance, Mexico, China, 0 500 1,000 1,500 2,000 2,500 Turkey, India, Indonesia, and Brazil. Source: World Bank Debtor Reporting System. 17 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Trends in IDA Financing: IDA resources are Figure B4. Top 10 Recipients of IDA reserved for the world’s poorest countries, and its Disbursements (Loans and Grants), 2011 operations are concentrated primarily in South Asia $ millions and Sub-Saharan Africa. New commitments from India IDA (loans and grants) rose by close to 20 percent Vietnam Pakistan in 2011 to $16 billion. Disbursements on IDA Ethiopia loans were up 10 percent from their 2010 level to Nigeria $8.4 billion and those on IDA grants by slightly less, Ghana Congo, Dem. Rep. 8 percent, to $2.4 billion, but gains were not uni- Bangladesh form across all regions. Countries in Sub-Saharan Rwanda Africa were the principal beneficiaries and received Kenya 48 percent of IDA disbursements (loans and grants) 0 500 1,000 1,500 2,000 in 2011. But, this share was down from 55 percent Source: World Bank Debtor Reporting System. in 2010, reflecting a 14 percent fall in IDA loan dis- bursements to the region in 2011. In contrast, South Asia, the second most important destination for IDA resources, saw IDA disbursements jump 56 percent to $3.5 billion in 2011, largely as a consequence IDA resources are allocated to individual of a rapid increase in disbursements to India to countries using a performance-based allocation $1.7 billion from $1.1 billion in 2010, and Pakistan, system that also takes account of the size of the where they rose to $0.9 billion, more than double population and GNI per capita. IDA recipient their 2010 level. IDA disbursements to countries in countries in the top performance quintile receive East Asia and the Pacific region were up by a more around three times the commitment per capita moderate 9 percent in 2011, due primarily to an as those in the lowest quintile. Disbursements in increase in disbursements to Vietnam, currently the 2011 remained concentrated: the top five recipient only major IDA recipient in the region. The share of countries received 46 percent and the top ten 63 IDA resources going to the three remaining regions, percent of total IDA (loans and grant) disburse- Europe and Central Asia, Latin America and the ments (figure B4). Caribbean and the Middle East and North Africa, The outstanding IDA loan portfolio ($122 remained moderate: together they received only billion at end 2011) is also heavily concentrated, 8 percent of total IDA disbursements in 2011, and with five countries in East Asia and South Asia each of these regions saw IDA disbursements fall in accounting for a little over half of the total 2011 from 2010 (figure B3). (52 percent): in order of importance, India, Paki- stan, Bangladesh, Vietnam and China. This is in part a consequence of the fact that 32 countries, Figure B3. IDA Disbursements (Loans and Grants): primarily in Sub-Saharan Africa, had reached Regional Distribution, 2009–2011 the HIPC Completion Point by end 2011 and $ millions benefited from debt relief from IDA under the 6,000 HIPC and MDRI. African countries with the 5,000 largest share of the outstanding IDA portfolio at 4,000 end 2011 were Nigeria ($4.2 billion), Tanzania 3,000 ($3.5 billion) and Kenya ($3.4 billion). 2,000 1,000 0 Note l A and ric n c d be d ric t ia Af as Af ara Pa an ib an As a So a Eu ific an a th E 1. Borrowers with outstanding obligations to IBRD, si tra e e a ar a h or le h en p th si C ic Sa ut C ro N dd A e er classified as high-income countries, and not included in the b- th Am st d Mi Su Ea DRS, are Barbados, Croatia, Estonia, Hungary, Republic tin La an of Korea, Poland, Slovak Republic, Slovenia, and Trinidad 2009 2010 2011 and Tobago. Source: World Bank Debtor Reporting System. 18 . Summary Tables 19 S U M M A R Y T A B L E S Summary Table 1. Key indebtedness indicators, 2009–2011 Total Present Ratio of external value of Ratio of total Ratio of present Ratio of total present value debt, 2011 debt, 2011 external debt value of debt to external debt to of debt to Country ($ millions) ($ millions) to exports (%) exports (%) GNI (%) GNI (%) Afghanistan 2,623 737 84 24 17 5 Albania 5,938 4,598 158 123 49 38 Algeria 6,072 3,737 9 6 4 2 Angola 21,115 17,705 39 33 27 23 Argentina 114,704 104,191 135 122 32 29 Armenia 7,383 5,767 258 201 76 59 Azerbaijan 8,427 10,995 28 37 17 22 Bangladesh 27,043 17,349 123 79 25 16 Belarus 29,120 26,902 86 79 56 52 Belize 1,278 977 152 116 101 77 Benin 1,423 960 95 64 21 14 Bhutan 1,035 811 157 123 75 59 Bolivia 6,474 3,567 89 49 33 18 Bosnia and Herzegovina 10,729 8,607 152 122 61 49 Botswana 2,396 1,553 74 48 16 11 Brazil 404,317 360,891 165 147 20 18 Bulgaria 39,930 36,476 134 123 83 76 Burkina Faso 2,420 1,736 231 166 27 19 Burundi 628 306 346 169 30 15 Cambodia 4,336 2,894 64 43 40 26 Cameroon 3,074 1,638 51 27 13 7 Cape Verde 1,025 555 151 82 62 33 Central African Republic 573 221 251 97 28 11 Chad 1,821 2,219 46 56 24 29 Chile 96,245 86,534 110 99 48 43 China 685,418 650,933 39 37 11 11 Colombia 76,918 66,967 153 133 28 24 Comoros 278 189 322 219 50 34 Congo, Dem. Rep. 5,448 4,530 67 56 44 37 Congo, Rep. 2,523 1,830 25 18 28 20 Costa Rica 10,291 9,128 95 84 30 26 Côte d’Ivoire 12,012 12,374 96 98 54 55 Djibouti 767 491 173 110 63 40 Dominica 284 213 166 125 61 46 Dominican Republic 15,395 12,490 123 100 31 25 Ecuador 16,497 13,553 82 67 29 23 Egypt, Arab Rep. 35,001 27,719 74 58 17 13 El Salvador 11,995 10,272 241 207 57 49 Eritrea 1,055 600 565 321 49 28 Ethiopia 8,597 4,445 185 96 28 14 Fiji 861 691 52 41 27 22 Gabon 2,879 2,398 35 29 24 20 Gambia, The 466 242 155 81 46 24 Georgia 11,124 9,652 234 203 92 80 Ghana 11,289 8,050 106 76 35 25 Grenada 567 625 310 342 77 85 (table continues next page) 21 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Summary Table 1. Key indebtedness indicators, 2009–2011 (continued) Total Present Ratio of external value of Ratio of total Ratio of present Ratio of total present value debt, 2011 debt, 2011 external debt value of debt to external debt to of debt to Country ($ millions) ($ millions) to exports (%) exports (%) GNI (%) GNI (%) Guatemala 16,286 12,806 144 113 40 31 Guinea 3,139 1,932 223 137 74 45 Guinea-Bissau 284 132 163 76 32 15 Guyana 1,846 871 162 76 82 39 Haiti 783 479 82 50 11 7 Honduras 4,642 2,150 90 42 31 14 India 334,331 283,499 93 79 21 18 Indonesia 213,541 180,033 125 105 32 27 Iran, Islamic Rep. 19,113 15,522 .. .. 5 4 Jamaica 14,350 13,363 330 308 108 101 Jordan 17,634 16,195 134 123 67 61 Kazakhstan 124,437 104,551 175 147 95 80 Kenya 10,258 7,052 114 79 32 22 Kosovo 1,531 703 110 51 26 12 Kyrgyz Republic 5,486 4,020 191 140 107 78 Lao PDR 6,158 4,393 255 182 92 66 Latvia 38,255 35,601 265 247 142 132 Lebanon 24,767 23,272 103 97 66 62 Lesotho 792 452 53 30 30 17 Liberia 448 122 83 23 52 14 Lithuania 29,988 27,691 114 105 78 72 Macedonia, FYR 6,286 5,667 157 142 67 60 Madagascar 2,769 1,771 148 95 31 20 Malawi 1,202 751 86 54 24 15 Malaysia 94,468 84,722 39 35 41 37 Maldives 983 802 73 59 51 41 Mali 2,931 1,793 118 72 32 19 Mauritania 2,709 2,479 115 105 78 71 Mauritius 1,435 961 16 11 14 10 Mexico 287,037 203,924 91 65 28 20 Moldova 5,452 4,644 188 160 83 71 Mongolia 2,564 1,852 69 49 43 31 Montenegro 2,093 2,053 118 115 49 48 Morocco 29,049 23,443 102 82 32 26 Mozambique 4,097 2,240 127 69 39 21 Myanmar 7,765 3,307 .. .. .. .. Nepal 3,956 2,462 209 130 25 15 Nicaragua 7,121 2,334 199 65 111 36 Niger 1,408 1,630 113 131 26 30 Nigeria 13,108 7,767 17 10 7 4 Pakistan 60,182 43,560 215 156 32 23 Panama 12,583 10,883 58 50 49 43 Papua New Guinea 12,461 9,802 205 162 127 100 Paraguay 6,011 5,254 59 52 33 29 Peru 44,872 39,774 110 97 30 27 22 S U M M A R Y T A B L E S Summary Table 1. Key indebtedness indicators, 2009–2011 (continued) Total Present Ratio of external value of Ratio of total Ratio of present Ratio of total present value debt, 2011 debt, 2011 external debt value of debt to external debt to of debt to Country ($ millions) ($ millions) to exports (%) exports (%) GNI (%) GNI (%) Philippines 76,043 64,619 135 115 38 33 Romania 129,822 109,985 227 192 77 66 Russian Federation 542,977 490,820 111 100 37 34 Rwanda 1,103 790 170 122 19 14 Samoa 368 207 188 106 64 36 São Tomé and Príncipe 231 80 885 306 106 37 Senegal 4,320 3,344 131 101 33 25 Serbia 31,569 27,316 220 190 78 68 Seychelles 1,779 1,636 170 157 201 185 Sierra Leone 1,049 369 232 82 53 19 Solomon Islands 256 181 57 40 45 32 Somalia 3,050 3,469 .. .. .. .. South Africa 113,512 60,121 110 58 33 17 Sri Lanka 23,984 18,512 208 160 48 37 St. Lucia 448 336 75 56 39 30 St. Vincent and the Grenadines 283 194 141 97 43 29 Sudan 21,169 23,857 193 218 37 42 Swaziland 605 510 28 23 18 15 Syrian Arab Republic 4,968 4,147 24 20 9 7 Tajikistan 3,323 2,393 261 188 59 42 Tanzania 10,044 6,062 155 93 45 27 Thailand 80,039 74,934 35 32 27 25 Togo 643 507 51 40 20 15 Tonga 191 121 326 207 51 32 Tunisia 22,335 19,215 99 85 53 45 Turkey 307,007 281,762 186 170 44 40 Turkmenistan 445 300 4 2 2 2 Uganda 3,858 1,930 106 53 24 12 Ukraine 134,481 120,461 187 167 98 88 Uruguay 14,350 10,687 129 96 38 28 Uzbekistan 8,382 6,043 64 47 21 15 Vanuatu 202 67 56 18 30 10 Venezuela, RB 67,908 49,532 89 65 20 14 Vietnam 57,841 35,961 69 43 56 35 Yemen, Rep. 6,418 3,691 73 42 23 13 Zambia 4,360 1,637 61 23 30 11 Zimbabwe 6,275 5,158 187 153 83 68 Source: World Bank data. Note: GNI = gross national income; .. = not available. For definition of indicators, see “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 HIPC Initiative as well as relief under the Multilateral Debt Relief Initiative (MDRI). Under MDRI IDA, IMF and the African Development Fund provide debt stock cancellation to post-completion point HIPC countries on debt owed to the three institutions. The Interamerican Development Bank (IDB) provides similar debt stock cancellation under the IDB 2007 Debt Initiative. MDRI debt relief provides 100 percent stock cancellation on debt disbursed before end-2004 (for the IMF, AfDF, and IDB) or end-2003 (for IDA), and still outstanding at the time the country reaches the completion point under the HIPC Initiative. In line with the Debt Sustainability Framework for Low-Income Countries, only the conditional debt relief under HIPC is included for countries in the interim period (between decision and completion point of the HIPC Initiative). 23 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Summary Table 2. Composition of total external debt stocks for 2011 US$ millions Public and publicly Public and publicly Total external Total long-term guaranteed, guaranteed, Public and publicly Country debt stocks external debt multilateral bilateral guaranteed, bonds Afghanistan 2,623 2,023 1,073 950 0 Albania 5,938 4,930 1,661 625 388 Algeria 6,072 3,091 8 1,602 0 Angola 21,115 17,518 454 9,205 10 Argentina 114,704 94,935 17,931 5,819 43,485 Armenia 7,383 5,551 1,647 1,086 0 Azerbaijan 8,427 7,272 2,152 1,213 0 Bangladesh 27,043 22,350 18,690 3,594 0 Belarus 29,120 11,624 403 5,739 2,576 Belize 1,278 1,236 263 147 21 Benin 1,423 1,190 990 200 0 Bhutan 1,035 1,021 385 636 0 Bolivia 6,474 5,587 2,597 729 0 Bosnia and Herzegovina 10,729 8,655 2,552 900 241 Botswana 2,396 1,897 1,795 101 0 Brazil 404,317 357,738 25,175 11,342 46,474 Bulgaria 39,930 26,085 2,362 779 991 Burkina Faso 2,420 2,056 1,741 301 0 Burundi 628 387 319 67 0 Cambodia 4,336 3,815 1,587 2,228 0 Cameroon 3,074 2,562 861 1,217 0 Cape Verde 1,025 1,004 610 321 0 Central African Republic 573 297 35 235 0 Chad 1,821 1,710 1,491 190 0 Chile 96,245 77,826 732 201 11,346 China 685,418 197,776 34,638 32,202 11,545 Colombia 76,918 64,968 16,072 508 19,880 Comoros 278 246 199 47 0 Congo, Dem. Rep. 5,448 3,940 2,411 1,512 0 Congo, Rep. 2,523 2,157 161 979 0 Costa Rica 10,291 7,629 1,794 402 1,435 Côte d’Ivoire 12,012 10,108 2,335 7,334 0 Djibouti 767 642 429 196 0 Dominica 284 229 122 61 41 Dominican Republic 15,395 11,671 3,350 3,767 2,412 Ecuador 16,497 15,309 5,197 3,741 868 Egypt, Arab Rep. 35,001 30,596 9,559 17,750 2,750 El Salvador 11,995 10,521 3,681 620 2,217 Eritrea 1,055 1,014 666 311 0 Ethiopia 8,597 7,938 3,405 2,273 0 Fiji 861 545 125 170 250 Gabon 2,879 2,464 440 552 879 Gambia, The 466 385 266 115 0 Georgia 11,124 8,369 2,026 680 815 Ghana 11,289 7,402 3,275 1,860 750 Grenada 567 487 186 87 210 Guatemala 16,286 13,712 4,377 352 630 24 S U M M A R Y T A B L E S Public and publicly Private Private nonguaranteed, guaranteed, commercial nonguaranteed, commercial banks IDA Use of IMF Short-term banks and other bonds and other IBRD (memo) (memo) credit debt 0 0 0 0 413 373 228 524 0 1,732 51 859 117 890 603 0 878 8 0 1,840 1,142 7,848 0 0 0 384 1,606 1,992 1,050 9,129 17,522 5,555 0 3,101 16,668 4 0 2,815 151 1,187 963 869 1,290 0 2,616 469 806 265 891 66 0 0 0 10,712 1,271 3,422 434 19 2,453 318 0 4,050 13,445 587 0 218 10 0 35 8 0 0 0 0 402 177 55 0 0 0 0 138 9 5 89 0 2,173 0 395 252 635 182 0 4,781 458 1,193 766 1,308 1 0 0 59 4 88 411 11,987 79,363 183,399 9,034 0 4,432 42,146 6 0 21,947 1,244 0 938 12,907 15 0 0 0 837 233 131 0 0 0 0 170 241 0 0 0 0 0 575 129 392 23 0 461 19 412 442 70 73 0 0 0 300 20 2 27 0 0 0 19 172 104 29 0 0 0 845 91 19 4,075 14,028 47,444 131 0 1,254 17,164 13,279 30,025 76,087 13,021 7,489 10,731 476,911 2,580 6,049 19,879 7,583 0 1,134 10,816 0 0 0 0 112 28 5 16 0 0 0 887 1,258 250 1,017 0 0 0 86 155 211 294 0 3,704 587 0 240 2,422 131 0 308 0 1,713 1,090 814 17 0 0 0 153 40 86 5 0 0 0 27 27 27 1,229 843 71 851 7 1,623 2,101 123 0 5,380 367 8 443 745 521 0 16 2,794 1,282 1,379 3,025 20 0 3,983 1,014 7 251 1,223 37 0 0 0 478 23 18 2,259 0 0 0 2,208 484 175 0 0 0 0 0 103 212 593 0 0 35 0 225 190 4 0 0 0 64 80 1 823 0 4,026 276 1,219 1,210 1,545 1,517 0 0 0 2,267 1,101 2,785 4 0 0 12 45 46 34 0 155 8,199 1,392 0 308 2,265 (table continues next page) 25 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Summary Table 2. Composition of total external debt stocks for 2011 (continued) US$ millions Public and publicly Public and publicly Total external Total long-term guaranteed, guaranteed, Public and publicly Country debt stocks external debt multilateral bilateral guaranteed, bonds Guinea 3,139 2,849 1,915 917 0 Guinea-Bissau 284 219 115 104 0 Guyana 1,846 1,054 552 482 0 Haiti 783 635 77 558 0 Honduras 4,642 4,160 2,333 766 50 India 334,331 250,171 48,841 26,870 16,517 Indonesia 213,541 172,327 22,842 43,639 29,288 Iran, Islamic Rep. 19,113 4,859 758 878 0 Jamaica 14,350 12,109 2,521 702 4,027 Jordan 17,634 7,496 2,398 2,895 895 Kazakhstan 124,437 114,977 3,627 1,048 0 Kenya 10,258 7,566 4,468 2,778 0 Kosovo 1,531 961 299 0 0 Kyrgyz Republic 5,486 4,986 1,343 1,275 0 Lao PDR 6,158 6,014 1,959 930 0 Latvia 38,255 24,551 5,209 10 1,535 Lebanon 24,767 21,101 1,233 856 17,966 Lesotho 792 712 638 62 0 Liberia 448 187 59 128 0 Lithuania 29,988 24,540 1,597 0 10,566 Macedonia, FYR 6,286 4,080 1,159 233 421 Madagascar 2,769 2,066 1,606 440 0 Malawi 1,202 926 633 288 0 Malaysia 94,468 48,697 207 3,056 19,244 Maldives 983 726 301 274 0 Mali 2,931 2,508 2,001 503 0 Mauritania 2,709 2,380 1,466 913 0 Mauritius 1,435 1,277 586 514 0 Mexico 287,037 231,325 23,513 4,886 122,879 Moldova 5,452 2,899 615 221 0 Mongolia 2,564 2,057 1,113 701 0 Montenegro 2,093 1,599 674 311 259 Morocco 29,049 25,157 11,297 7,284 1,294 Mozambique 4,097 3,617 2,306 1,081 0 Myanmar 7,765 6,253 1,401 4,409 0 Nepal 3,956 3,661 3,153 505 0 Nicaragua 7,121 6,009 1,852 991 0 Niger 1,408 1,100 876 224 0 Nigeria 13,108 6,396 4,799 535 500 Pakistan 60,182 47,685 25,427 17,927 1,550 Panama 12,583 12,281 2,028 371 8,272 Papua New Guinea 12,461 12,268 705 338 0 Paraguay 6,011 3,972 1,511 557 0 Peru 44,872 37,751 7,977 2,743 9,299 Philippines 76,043 67,744 9,055 14,520 20,930 Romania 129,822 82,331 15,985 903 4,852 Russian Federation 542,977 464,333 2,426 2,775 31,280 26 S U M M A R Y T A B L E S Public and publicly Private Private nonguaranteed, guaranteed, commercial nonguaranteed, commercial banks IDA Use of IMF Short-term banks and other bonds and other IBRD (memo) (memo) credit debt 18 0 0 0 1,166 199 91 0 0 0 0 57 32 33 21 0 0 0 10 182 609 0 0 0 0 0 148 0 31 0 980 0 732 215 268 15,630 10,861 131,453 11,524 26,605 6,108 78,052 6,783 14,268 55,507 9,717 2,277 3,041 38,173 3,223 0 0 739 0 2,209 12,045 516 4,290 53 669 0 1,234 1,008 160 0 1,147 927 29 257 9,881 0 17,995 92,306 2,308 0 528 8,933 320 0 0 0 3,388 1,100 1,593 11 0 651 293 7 114 456 0 0 2,368 0 660 312 188 0 0 3,125 0 639 83 62 321 0 17,476 529 0 1,693 12,011 547 500 0 301 0 355 3,311 12 0 0 1 322 80 0 0 0 0 0 14 248 12 750 793 10,834 17 0 211 5,238 295 0 1,972 334 357 403 1,803 7 0 12 0 1,198 273 430 5 0 0 0 274 247 30 4,649 5,509 16,032 0 0 2,067 43,704 110 0 42 0 103 28 229 4 0 0 0 981 230 193 0 0 0 0 345 178 151 66 0 111 242 7 149 9 20,547 36,223 23,278 13,590 0 4,377 51,335 21 0 2,042 75 434 655 1,899 12 0 231 0 447 268 239 301 0 54 223 83 40 455 2,449 0 2,833 2,866 12 862 3,030 230 0 0 0 1,577 355 125 443 0 0 0 787 381 1,132 2 0 0 0 1,426 214 81 3 0 3,163 0 474 373 739 0 0 0 0 355 153 156 63 500 0 7 4,201 2,572 4,139 218 250 2,313 1,610 10,772 9,962 2,535 219 1,261 130 399 0 302 0 26 0 11,199 127 99 193 0 240 100 1,564 245 12 146 1,893 123 9,003 8,605 2,733 0 936 6,185 1,232 1,579 20,427 3,278 163 1,287 7,013 3,130 83 57,379 3,528 0 17,738 29,752 155,739 13,413 258,700 2,067 0 8,708 69,936 (table continues next page) 27 I N T E R N A T I O N A L D E B T S T A T I S T I C S 2 0 1 3 Summary Table 2. Composition of total external debt stocks for 2011 (continued) US$ millions Public and publicly Public and publicly Total external Total long-term guaranteed, guaranteed, Public and publicly Country debt stocks external debt multilateral bilateral guaranteed, bonds Rwanda 1,103 971 820 151 0 Samoa 368 342 224 119 0 São Tomé and Príncipe 231 189 42 148 0 Senegal 4,320 3,873 2,238 870 500 Serbia 31,569 27,624 5,266 3,317 1,000 Seychelles 1,779 459 75 135 169 Sierra Leone 1,049 740 414 118 0 Solomon Islands 256 210 100 18 0 Somalia 3,050 1,992 800 1,155 0 South Africa 113,512 91,909 1,449 0 38,548 Sri Lanka 23,984 19,746 6,331 8,459 3,000 St. Lucia 448 310 238 21 8 St. Vincent and the Grenadines 283 260 207 15 0 Sudan 21,169 15,123 3,489 7,862 0 Swaziland 605 344 214 111 0 Syrian Arab Republic 4,968 3,998 1,630 2,367 0 Tajikistan 3,323 2,948 973 996 0 Tanzania 10,044 7,686 4,764 1,266 0 Thailand 80,039 33,562 209 6,656 1,954 Togo 643 380 223 157 0 Tonga 191 180 68 112 0 Tunisia 22,335 16,949 7,629 3,683 3,063 Turkey 307,007 218,686 21,111 6,817 46,968 Turkmenistan 445 299 11 254 0 Uganda 3,858 2,958 2,705 253 0 Ukraine 134,481 85,543 3,696 1,324 11,873 Uruguay 14,350 13,349 3,567 93 8,347 Uzbekistan 8,382 7,613 1,281 2,187 0 Vanuatu 202 99 67 31 0 Venezuela, RB 67,908 47,324 5,574 1,145 35,769 Vietnam 57,841 47,381 14,374 16,657 2,001 Yemen, Rep. 6,418 5,876 3,248 2,626 0 Zambia 4,360 2,897 966 389 0 Zimbabwe 6,275 4,554 1,588 1,633 0 All developing countries 4,876,042 3,469,415 505,274 348,492 605,036 Region or Group East Asia and the Pacific 1,242,512 599,271 88,675 125,785 85,213 Europe and Central Asia 1,484,186 1,140,456 78,076 32,694 113,764 Latin America and the Caribbean 1,233,484 1,032,388 133,426 41,104 317,669 Middle East and North Africa 166,124 119,765 38,189 40,138 25,968 South Asia 454,138 347,385 104,202 59,216 21,067 Sub-Saharan Africa 295,598 230,149 62,706 49,555 41,356 Low-income countries 133,292 108,530 66,578 31,876 0 Middle-income countries 4,742,750 3,360,885 438,696 316,615 605,036 Source: World Bank data. Note: IBRD = International Bank for Reconstruction and Development; IDA = International Development Association; IMF = International Monetary Fund. 28 S U M M A R Y T A B L E S Public and publicly Private Private nonguaranteed, guaranteed, commercial nonguaranteed, commercial banks IDA Use of IMF Short-term banks and other bonds and other IBRD (memo) (memo) credit debt 0 0 0 0 392 132 0 0 0 0 0 100 26 0 0 0 0 0 14 16 26 0 0 265 0 1,181 447 0 1,601 165 16,274 1,859 702 2,783 1,162 80 0 0 17 0 49 1,272 208 0 0 0 188 274 35 0 0 92 0 40 34 11 36 0 0 0 442 243 815 6,672 6,604 38,636 583 0 2,741 18,862 943 0 1,013 0 2,652 2,325 1,913 44 0 0 18 64 41 97 38 0 0 7 22 23 0 3,773 0 0 0 1,287 651 5,394 18 0 0 1 2 74 187 0 0 0 0 14 429 542 0 0 979 0 374 246 129 408 0 1,248 0 3,490 643 1,715 1,466 5,090 18,187 67 0 1,490 44,988 0 0 0 0 0 254 9 0 0 0 0 23 10 0 582 0 1,991 1,775 16 419 4,967 19,523 4,003 120,264 12,215 36 4,521 83,800 0 0 34 10 0 107 39 0 0 0 0 1,844 273 627 1,072 5,589 61,988 3,189 0 16,212 32,727 98 294 951 1,128 0 450 550 227 0 3,918 232 149 403 366 0 0 0 0 11 25 78 1,777 3,060 0 0 0 3,905 16,679 3,566 0 10,782 794 7,951 496 9,964 2 0 0 0 2,135 410 131 25 0 1,517 0 492 1,137 326 430 0 904 463 511 527 1,194 314,445 281,045 1,415,123 126,144 121,849 158,104 1,248,523 31,457 56,472 211,670 27,005 20,602 20,362 622,879 186,253 42,061 687,609 29,844 8,066 62,982 280,748 45,698 163,797 330,695 45,325 1,802 25,480 175,615 8,104 500 6,865 9,409 3,641 8,199 38,160 16,968 11,111 134,821 13,134 52,821 20,289 86,465 25,965 7,104 43,463 1,427 34,917 20,792 44,657 4,565 0 5,511 463 37,192 11,222 13,540 309,880 281,045 1,409,613 125,681 84,657 146,882 1,234,983 29 . Regional and Income Group Aggregate Tables 31 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 2,137,041 2,577,202 2,801,513 3,421,962 3,677,974 3,922,617 4,412,233 4,876,042 Long-term external debt 1,764,272 1,993,182 2,150,133 2,570,169 2,834,073 2,964,483 3,191,784 3,469,415 Public and publicly guaranteed 1,273,376 1,308,484 1,294,266 1,395,247 1,443,391 1,579,562 1,673,941 1,773,246 Private nonguaranteed 490,896 684,698 855,867 1,174,922 1,390,683 1,384,922 1,517,843 1,696,168 Use of IMF credit 79,370 72,350 44,285 41,212 50,737 148,269 158,136 158,104 Short-term external debt 293,399 511,670 607,095 810,580 793,164 809,865 1,062,313 1,248,523 interest arrears on long-term 31,860 28,702 26,359 27,998 27,824 26,794 21,731 18,705 Memorandum items Principal arrears on long-term 60,787 46,564 45,241 46,788 48,254 50,176 40,301 41,383 Long-term public sector debt 1,267,486 1,303,874 1,289,936 1,390,360 1,437,712 1,567,921 1,661,459 1,760,988 Long-term private sector debt 496,786 689,308 860,196 1,179,809 1,396,361 1,396,562 1,530,325 1,708,427 Public & publicly guaranteed commitments 145,902 172,901 150,660 195,941 186,417 266,987 296,298 276,659 External debt flows Disbursements 238,534 381,847 483,747 652,323 646,935 540,161 673,848 722,213 Long-term external debt 228,420 377,886 479,634 650,309 632,328 511,544 656,978 717,886 IMF purchases 10,114 3,961 4,113 2,013 14,607 28,618 16,871 4,327 Principal repayments 223,449 328,109 381,522 365,851 400,535 398,305 423,127 446,914 Long-term external debt 202,846 283,987 350,703 358,696 396,736 396,461 420,104 443,110 IMF repurchases 20,603 44,122 30,819 7,155 3,800 1,844 3,022 3,804 Net flows 9,261 138,842 199,994 487,772 229,158 159,579 508,233 464,535 Long-term external debt 25,573 93,899 128,931 291,613 235,592 115,083 236,873 274,777 Short-term external debt -5,824 85,104 97,911 201,446 -17,147 17,829 257,551 189,314 Interest payments 114,029 104,309 117,475 137,435 138,677 122,157 152,785 173,823 Long-term external debt 94,082 83,319 92,578 108,004 116,760 107,741 110,441 127,435 IMF charges 3,794 3,995 2,603 1,571 1,188 790 1,285 1,460 Short-term external debt 16,155 16,997 22,294 27,860 20,729 13,626 41,059 44,928 2. Other non-debt resource inflows Foreign direct investment 148,508 306,605 397,973 559,423 636,934 427,874 582,682 644,397 Portfolio equity 13,948 67,691 107,697 132,904 -53,628 114,185 120,191 -2,238 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 14.1 14.3 14.8 13.6 14.0 12.6 11.7 Japanese yen 12.1 9.9 9.6 8.8 10.4 9.5 10.1 9.8 Pound sterling 1.0 1.1 0.7 0.6 0.4 0.4 0.4 0.4 Swiss franc 0.5 0.5 0.6 0.6 0.5 0.5 0.4 0.4 U.S.dollars 61.7 64.5 65.3 65.2 65.7 66.0 65.8 66.6 4. Average terms of new commitments Official creditors Interest (%) 4.8 3.5 3.9 3.6 2.8 1.9 1.9 2.1 Maturity (years) 20.2 22.1 23.1 23.3 23.5 21.2 23.3 23.1 Grace period (years) 5.1 5.6 6.3 6.5 6.6 6.3 6.9 5.5 Private creditors Interest (%) 8.1 5.9 6.0 5.9 5.6 5.5 4.4 5.0 Maturity (years) 11.4 13.6 12.9 13.9 13.4 14.4 16.9 19.0 Grace period (years) 8.5 8.1 9.2 8.2 7.4 7.1 8.1 9.3 5. Major economic aggregates Gross national income (GNI) 5,646,316 9,418,325 11,198,577 13,909,664 16,663,412 16,242,777 19,472,131 22,710,300 Exports of goods, services & prim. income 1,656,504 3,189,460 3,900,659 4,757,351 5,759,561 4,616,276 5,781,029 7,039,363 Personal transfers & comp. of employees 77,725 180,035 213,597 259,696 301,037 284,982 315,650 355,036 Imports of goods, services & prim. income 1,708,052 3,152,969 3,750,396 4,627,232 5,686,376 4,670,279 5,939,059 7,263,877 Primary income on FDI 67,968 197,295 256,822 328,379 380,855 338,888 459,429 485,613 International reserves 612,253 1,920,527 2,545,594 3,613,411 4,062,266 4,694,354 5,396,364 5,888,373 6. Ratios External debt stocks to exports (%) 129.0 80.8 71.8 71.9 63.9 85.0 76.3 69.3 External debt stocks to GNI (%) 37.8 27.4 25.0 24.6 22.1 24.1 22.7 21.5 Debt service to exports (%) 20.4 13.6 12.9 10.6 9.4 11.3 10.0 8.8 Short-term to external debt stocks (%) 13.7 19.9 21.7 23.7 21.6 20.6 24.1 25.6 Multilateral to external debt stocks (%) 15.3 14.5 12.4 10.9 10.8 11.3 11.0 10.4 Reserves to external debt stocks (%) 28.6 74.5 90.9 105.6 110.4 119.7 122.3 120.8 Reserves to imports (months) 4.3 7.3 8.1 9.4 8.6 12.1 10.9 9.7 32 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 1,764,272 1,993,182 2,150,133 2,570,169 2,834,073 2,964,483 3,191,784 3,469,415 Public and publicly guaranteed 1,273,376 1,308,484 1,294,266 1,395,247 1,443,391 1,579,562 1,673,941 1,773,246 Official creditors 752,140 715,475 637,243 668,713 711,600 776,618 826,131 853,765 Multilateral 327,379 373,378 348,553 374,431 395,711 444,834 486,301 505,274 of which: IBRD 108,318 96,357 92,373 93,638 96,683 108,683 124,819 126,144 IDA 86,794 121,076 99,004 107,673 111,268 116,966 118,601 121,849 Bilateral 424,761 342,096 288,691 294,281 315,889 331,784 339,829 348,492 Private creditors 521,236 593,009 657,023 726,535 731,791 802,943 847,810 919,481 of which: Bonds 325,985 406,087 418,847 456,959 459,020 484,281 543,900 605,036 Commercial banks 126,993 125,892 165,941 194,241 187,223 197,652 198,753 194,888 Private nonguaranteed 490,896 684,698 855,867 1,174,922 1,390,683 1,384,922 1,517,843 1,696,168 of which: Bonds 89,492 136,425 169,586 209,347 177,106 199,588 255,395 281,045 Disbursements 228,420 377,886 479,634 650,309 632,328 511,544 656,978 717,886 Public and publicly guaranteed 137,257 155,250 166,065 195,746 174,175 222,635 285,335 244,244 Official creditors 52,422 46,048 54,756 60,143 69,429 100,878 108,517 89,118 Multilateral 34,313 34,187 40,074 43,793 47,821 72,653 72,451 58,237 of which: IBRD 12,968 9,179 11,932 10,496 13,605 22,701 26,246 17,320 IDA 5,219 7,207 6,771 7,358 6,864 8,712 7,688 8,434 Bilateral 18,109 11,861 14,682 16,350 21,607 28,225 36,066 30,880 Private creditors 84,835 109,202 111,310 135,602 104,746 121,757 176,818 155,127 of which: Bonds 55,640 64,447 60,279 74,358 63,995 70,846 103,490 96,441 Commercial banks 18,102 31,820 37,411 47,917 29,714 24,881 47,747 35,141 Private nonguaranteed 91,163 222,635 313,569 454,564 458,154 288,908 371,643 473,642 of which: Bonds 10,810 40,581 50,403 63,302 12,902 39,207 78,669 91,448 Principal repayments 202,846 283,987 350,703 358,696 396,736 396,461 420,104 443,110 Public and publicly guaranteed 104,629 146,045 190,514 138,143 148,322 127,661 140,519 143,399 Official creditors 47,653 70,147 96,931 53,379 49,814 46,654 49,158 59,673 Multilateral 22,719 26,646 36,423 26,455 26,961 25,533 25,884 34,630 of which: IBRD 9,418 12,129 17,186 10,864 10,945 10,858 9,160 15,244 IDA 948 1,621 1,779 1,836 2,296 2,252 2,342 3,908 Bilateral 24,934 43,502 60,508 26,924 22,853 21,121 23,274 25,042 Private creditors 56,976 75,897 93,583 84,764 98,508 81,007 91,360 83,727 of which: Bonds 22,293 44,640 59,137 50,220 54,530 31,859 34,577 36,917 Commercial banks 23,264 22,411 24,994 24,706 34,211 34,823 41,852 36,551 Private nonguaranteed 98,217 137,942 160,189 220,554 248,413 268,800 279,586 299,710 of which: Bonds 15,032 15,063 17,980 20,499 30,970 17,153 17,925 27,165 Interest payments 94,082 83,319 92,578 108,004 116,760 107,741 110,441 127,435 Public and publicly guaranteed 63,419 60,624 56,056 61,079 59,327 54,989 56,160 59,981 Official creditors 25,959 23,885 19,685 20,195 19,002 16,949 16,572 17,120 Multilateral 15,219 10,542 11,643 12,865 12,311 10,532 8,911 9,585 of which: IBRD 7,456 4,019 4,781 5,434 4,575 3,431 2,263 2,320 IDA 577 897 811 758 908 798 825 939 Bilateral 10,740 13,343 8,042 7,330 6,691 6,417 7,661 7,535 Private creditors 37,460 36,739 36,370 40,884 40,325 38,040 39,588 42,861 of which: Bonds 25,105 30,308 28,841 31,707 30,675 29,165 31,482 36,460 Commercial banks 8,677 4,880 5,988 6,393 6,467 5,874 4,153 4,418 Private nonguaranteed 30,663 22,695 36,523 46,925 57,433 52,752 54,280 67,453 of which: Bonds 7,776 7,994 12,488 13,461 11,346 11,788 14,099 19,524 750 Non-debt flows (bill US$) 150 Debt ratios (%) 500 100 250 50 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 33 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 497,305 621,319 657,773 738,184 767,615 873,229 1,069,442 1,242,512 Long-term external debt 418,094 412,488 431,991 459,293 502,056 523,511 571,059 599,271 Public and publicly guaranteed 270,939 263,994 265,324 269,371 288,523 309,747 321,613 331,129 Private nonguaranteed 147,155 148,495 166,667 189,922 213,532 213,764 249,446 268,142 Use of IMF credit 17,781 10,005 1,776 1,832 1,734 20,823 20,464 20,362 Short-term external debt 61,429 198,826 224,006 277,059 263,826 328,895 477,919 622,879 interest arrears on long-term 5,336 1,090 994 1,125 1,155 1,226 1,347 1,366 Memorandum items Principal arrears on long-term 7,461 5,929 4,680 3,979 4,071 4,371 4,903 5,014 Long-term public sector debt 270,588 263,473 264,828 268,938 288,096 304,832 316,693 326,706 Long-term private sector debt 147,507 149,016 167,163 190,355 213,960 218,678 254,366 272,565 Public & publicly guaranteed commitments 26,968 25,060 21,900 22,139 29,580 42,950 42,303 48,693 External debt flows Disbursements 43,658 74,966 77,636 92,536 88,593 88,724 125,641 115,489 Long-term external debt 42,165 74,966 77,636 92,536 88,593 88,550 125,608 115,479 IMF purchases 1,493 0 0 0 0 174 33 10 Principal repayments 47,273 68,930 71,475 75,666 72,148 82,498 87,527 93,572 Long-term external debt 47,006 67,333 62,996 75,632 72,099 82,448 87,479 93,530 IMF repurchases 267 1,597 8,479 35 49 50 48 42 Net flows -14,461 42,923 31,438 69,790 3,182 71,225 187,017 166,858 Long-term external debt -4,840 7,633 14,641 16,904 16,494 6,102 38,128 21,949 Short-term external debt -10,846 36,887 25,277 52,921 -13,263 64,999 148,903 144,940 Interest payments 25,279 17,881 22,031 25,562 22,960 18,773 47,429 53,255 Long-term external debt 20,429 12,843 14,243 17,487 16,878 14,320 18,241 21,104 IMF charges 851 380 371 58 14 49 67 25 Short-term external debt 3,999 4,657 7,417 8,017 6,068 4,404 29,121 32,126 2. Other non-debt resource inflows Foreign direct investment 45,165 129,086 153,024 196,378 211,229 154,479 290,011 274,934 Portfolio equity 6,589 25,907 56,193 35,063 -7,583 30,185 39,715 7,550 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 8.3 8.8 9.0 7.4 6.6 6.0 5.4 Japanese yen 28.3 26.2 24.8 23.6 26.2 23.4 24.9 24.0 Pound sterling 0.4 0.7 0.6 0.6 0.3 0.3 0.3 0.3 Swiss franc 0.2 0.3 0.2 0.2 0.2 0.1 0.1 0.1 U.S.dollars 55.9 56.5 56.7 57.4 57.6 60.6 61.1 62.7 4. Average terms of new commitments Official creditors Interest (%) 3.9 3.1 4.2 3.4 2.3 1.5 1.3 2.1 Maturity (years) 26.8 24.9 25.8 25.1 25.0 24.8 25.2 27.4 Grace period (years) 6.3 6.7 6.6 7.3 7.1 6.4 7.4 7.8 Private creditors Interest (%) 6.6 5.6 6.6 5.4 5.2 6.7 5.8 10.0 Maturity (years) 13.0 11.1 15.2 15.3 13.4 11.1 13.7 20.7 Grace period (years) 5.0 8.3 11.0 11.0 8.8 8.6 7.3 14.6 5. Major economic aggregates Gross national income (GNI) 1,680,587 3,014,364 3,643,840 4,624,185 5,859,378 6,311,912 7,535,391 9,207,922 Exports of goods, services & prim. income 635,985 1,295,115 1,597,921 2,000,594 2,363,733 2,014,592 2,605,406 3,116,313 Personal transfers & comp. of employees 15,799 34,150 39,590 50,357 59,140 60,362 75,795 85,453 Imports of goods, services & prim. income 606,303 1,193,328 1,373,332 1,655,976 1,984,278 1,766,495 2,390,289 2,925,895 Primary income on FDI 31,677 73,709 76,804 93,408 106,305 134,488 199,516 189,443 International reserves 275,532 1,003,800 1,295,785 1,834,401 2,265,585 2,779,443 3,315,596 3,708,780 6. Ratios External debt stocks to exports (%) 78.2 48.0 41.2 36.9 32.5 43.3 41.0 39.9 External debt stocks to GNI (%) 29.6 20.6 18.1 16.0 13.1 13.8 14.2 13.5 Debt service to exports (%) 11.4 6.7 5.9 5.1 4.0 5.0 5.2 4.7 Short-term to external debt stocks (%) 12.4 32.0 34.1 37.5 34.4 37.7 44.7 50.1 Multilateral to external debt stocks (%) 13.2 10.4 10.1 9.4 9.6 9.3 8.1 7.1 Reserves to external debt stocks (%) 55.4 161.6 197.0 248.5 295.1 318.3 310.0 298.5 Reserves to imports (months) 5.5 10.1 11.3 13.3 13.7 18.9 16.6 15.2 34 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 418,094 412,488 431,991 459,293 502,056 523,511 571,059 599,271 Public and publicly guaranteed 270,939 263,994 265,324 269,371 288,523 309,747 321,613 331,129 Official creditors 171,436 172,448 172,509 177,119 193,736 202,978 209,847 214,459 Multilateral 65,756 64,368 66,424 69,643 73,663 80,930 86,311 88,675 of which: IBRD 30,476 23,331 22,550 21,693 22,275 23,383 25,494 27,005 IDA 12,520 16,498 17,683 19,086 19,683 20,921 21,234 20,602 Bilateral 105,680 108,080 106,085 107,475 120,073 122,047 123,536 125,785 Private creditors 99,504 91,546 92,814 92,252 94,788 106,769 111,765 116,670 of which: Bonds 35,808 55,423 61,543 65,063 66,581 73,965 78,002 85,213 Commercial banks 33,257 17,675 14,755 13,254 15,336 17,240 19,557 17,471 Private nonguaranteed 147,155 148,495 166,667 189,922 213,532 213,764 249,446 268,142 of which: Bonds 22,077 26,415 27,416 25,091 23,625 24,799 36,876 56,472 Disbursements 42,165 74,966 77,636 92,536 88,593 88,550 125,608 115,479 Public and publicly guaranteed 28,719 25,254 26,395 20,911 22,700 38,810 42,425 36,821 Official creditors 15,620 9,059 11,708 11,827 13,040 16,708 16,839 17,067 Multilateral 6,943 5,145 5,930 6,718 7,820 10,064 8,626 8,474 of which: IBRD 3,245 1,825 2,012 2,347 3,200 3,710 4,503 3,646 IDA 700 627 754 1,058 1,152 1,550 1,068 1,180 Bilateral 8,677 3,914 5,778 5,109 5,220 6,643 8,214 8,593 Private creditors 13,099 16,195 14,687 9,084 9,660 22,102 25,586 19,753 of which: Bonds 4,539 11,523 9,581 5,110 5,180 13,903 12,914 13,085 Commercial banks 2,535 3,034 1,912 1,588 2,946 4,034 6,634 2,097 Private nonguaranteed 13,446 49,711 51,241 71,625 65,893 49,740 83,183 78,659 of which: Bonds 1,106 4,981 3,444 1,701 368 2,733 15,328 15,353 Principal repayments 47,006 67,333 62,996 75,632 72,099 82,448 87,479 93,530 Public and publicly guaranteed 22,798 24,500 25,131 22,490 21,722 24,852 27,154 30,650 Official creditors 10,243 10,767 12,510 15,093 13,384 12,892 13,838 15,605 Multilateral 4,062 4,609 4,676 4,969 4,781 4,606 4,716 6,222 of which: IBRD 2,006 2,798 2,891 3,336 2,775 2,583 2,422 2,154 IDA 107 286 324 368 413 450 478 1,769 Bilateral 6,181 6,158 7,834 10,124 8,603 8,286 9,123 9,383 Private creditors 12,555 13,733 12,621 7,398 8,338 11,960 13,316 15,045 of which: Bonds 1,211 4,318 5,432 2,103 2,808 5,342 5,482 6,125 Commercial banks 7,160 5,471 2,684 2,613 1,687 2,485 2,901 4,119 Private nonguaranteed 24,208 42,833 37,865 53,141 50,377 57,596 60,326 62,880 of which: Bonds 5,168 2,115 3,022 2,719 1,533 2,929 1,947 3,429 Interest payments 20,429 12,843 14,243 17,487 16,878 14,320 18,241 21,104 Public and publicly guaranteed 12,889 8,632 9,262 10,614 10,142 9,437 10,558 11,369 Official creditors 7,237 4,043 4,470 5,113 4,676 4,005 4,639 4,565 Multilateral 3,833 2,018 2,245 2,492 2,283 1,732 1,412 1,495 of which: IBRD 2,146 1,028 1,168 1,298 1,085 734 524 482 IDA 87 133 131 134 146 139 146 165 Bilateral 3,404 2,025 2,226 2,622 2,393 2,273 3,227 3,070 Private creditors 5,652 4,589 4,791 5,500 5,467 5,432 5,919 6,804 of which: Bonds 2,286 3,217 3,657 3,977 4,130 4,454 4,995 5,797 Commercial banks 1,921 845 609 723 506 433 463 479 Private nonguaranteed 7,539 4,211 4,982 6,873 6,735 4,883 7,683 9,735 of which: Bonds 1,942 1,293 1,486 1,495 1,239 1,154 1,308 3,863 300 Non-debt flows (bill US$) 400 Debt ratios (%) 350 250 300 200 250 150 200 150 100 100 50 50 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 35 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 359,937 630,960 819,124 1,169,597 1,309,304 1,330,943 1,414,826 1,484,186 Long-term external debt 265,670 478,274 629,826 882,253 1,032,465 1,063,654 1,092,775 1,140,456 Public and publicly guaranteed 197,475 216,337 262,849 305,909 311,028 378,225 385,277 410,786 Private nonguaranteed 68,196 261,937 366,977 576,344 721,438 685,429 707,498 729,670 Use of IMF credit 34,759 33,055 28,082 24,300 30,510 55,693 64,184 62,982 Short-term external debt 59,508 119,631 161,216 263,043 246,329 211,596 257,867 280,748 interest arrears on long-term 8,508 4,098 1,538 1,586 1,772 1,890 2,270 677 Memorandum items Principal arrears on long-term 14,077 3,545 2,020 2,172 2,925 4,869 7,194 3,289 Long-term public sector debt 196,933 215,662 262,207 305,007 309,676 376,630 383,122 408,299 Long-term private sector debt 68,737 262,612 367,619 577,246 722,790 687,024 709,653 732,157 Public & publicly guaranteed commitments 21,526 41,035 37,776 61,304 48,504 65,879 83,922 68,521 External debt flows Disbursements 41,445 148,828 206,785 290,457 323,057 213,939 242,318 254,434 Long-term external debt 37,077 146,039 203,704 289,212 313,565 192,545 230,661 252,513 IMF purchases 4,369 2,789 3,081 1,245 9,492 21,394 11,657 1,922 Principal repayments 31,305 97,683 109,806 125,544 171,931 177,305 194,563 187,391 Long-term external debt 26,388 85,099 100,917 119,264 169,443 176,370 192,292 184,438 IMF repurchases 4,917 12,585 8,889 6,280 2,488 935 2,271 2,953 Net flows 19,504 72,091 141,123 266,147 134,225 1,784 93,647 91,516 Long-term external debt 10,689 60,940 102,787 169,948 144,123 16,175 38,369 68,075 Short-term external debt 9,365 20,946 44,145 101,234 -16,901 -34,850 45,891 24,473 Interest payments 16,799 24,427 30,844 41,616 49,396 44,310 42,410 48,687 Long-term external debt 12,192 18,773 23,641 32,411 41,704 39,164 36,517 42,088 IMF charges 1,635 1,571 1,502 1,145 558 499 879 1,125 Short-term external debt 2,973 4,083 5,701 8,059 7,134 4,648 5,014 5,474 2. Other non-debt resource inflows Foreign direct investment 9,798 55,825 101,268 148,361 169,035 90,380 88,019 118,708 Portfolio equity 986 6,680 12,301 27,002 -15,268 6,359 -813 -10,119 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 20.9 18.0 18.6 18.9 20.0 21.7 21.1 Japanese yen 5.7 3.2 2.7 2.4 3.0 2.5 2.7 3.2 Pound sterling 0.4 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Swiss franc 0.3 0.5 1.1 1.0 1.0 0.4 0.3 0.3 U.S.dollars 60.2 71.2 75.1 75.5 74.9 75.2 73.2 73.7 4. Average terms of new commitments Official creditors Interest (%) 5.7 2.7 3.9 4.2 3.8 2.5 2.6 1.9 Maturity (years) 17.8 22.7 18.5 18.4 19.6 17.0 22.7 16.1 Grace period (years) 5.3 6.4 5.9 6.1 7.4 6.0 7.7 5.2 Private creditors Interest (%) 8.7 5.1 6.0 5.9 4.9 4.9 4.6 4.5 Maturity (years) 10.3 13.4 8.3 7.6 12.5 18.3 14.4 13.9 Grace period (years) 7.5 4.5 5.7 5.0 3.7 2.6 5.9 5.0 5. Major economic aggregates Gross national income (GNI) 694,322 1,663,607 2,029,121 2,631,020 3,253,245 2,539,545 2,963,123 3,443,240 Exports of goods, services & prim. income 262,511 605,003 751,238 938,291 1,227,046 852,532 1,038,154 1,327,246 Personal transfers & comp. of employees 9,297 20,727 26,410 38,121 44,895 36,244 36,631 42,440 Imports of goods, services & prim. income 249,473 600,967 771,601 1,027,315 1,303,634 893,469 1,084,296 1,380,171 Primary income on FDI 3,101 32,955 56,016 78,085 102,428 60,428 80,749 106,279 International reserves 61,422 301,218 471,629 692,967 631,983 647,259 695,760 709,842 6. Ratios External debt stocks to exports (%) 137.1 104.3 109.0 124.7 106.7 156.1 136.3 111.8 External debt stocks to GNI (%) 51.8 37.9 40.4 44.5 40.2 52.4 47.7 43.1 Debt service to exports (%) 18.3 20.2 18.7 17.8 18.0 26.0 22.8 17.8 Short-term to external debt stocks (%) 16.5 19.0 19.7 22.5 18.8 15.9 18.2 18.9 Multilateral to external debt stocks (%) 8.2 6.0 5.0 4.0 3.8 4.8 5.1 5.3 Reserves to external debt stocks (%) 17.1 47.7 57.6 59.2 48.3 48.6 49.2 47.8 Reserves to imports (months) 3.0 6.0 7.3 8.1 5.8 8.7 7.7 6.2 36 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 265,670 478,274 629,826 882,253 1,032,465 1,063,654 1,092,775 1,140,456 Public and publicly guaranteed 197,475 216,337 262,849 305,909 311,028 378,225 385,277 410,786 Official creditors 115,091 86,395 65,395 72,396 77,777 94,167 105,898 110,769 Multilateral 29,480 38,067 41,063 47,109 50,007 63,780 72,604 78,076 of which: IBRD 19,068 21,793 22,214 22,688 23,071 25,806 28,228 29,844 IDA 2,667 5,548 6,188 6,862 7,160 7,631 7,835 8,066 Bilateral 85,611 48,328 24,332 25,287 27,771 30,387 33,294 32,694 Private creditors 82,383 129,942 197,454 233,513 233,250 284,058 279,379 300,017 of which: Bonds 46,442 65,877 73,615 81,733 78,447 83,203 99,165 113,764 Commercial banks 25,963 39,512 83,595 105,589 94,520 108,410 102,813 94,202 Private nonguaranteed 68,196 261,937 366,977 576,344 721,438 685,429 707,498 729,670 of which: Bonds 3,333 25,731 45,739 65,148 48,184 47,871 47,929 42,061 Disbursements 37,077 146,039 203,704 289,212 313,565 192,545 230,661 252,513 Public and publicly guaranteed 21,244 35,881 53,161 68,433 40,378 62,783 86,426 70,076 Official creditors 6,924 5,196 6,341 9,359 11,299 21,039 20,169 14,898 Multilateral 4,373 4,253 5,184 6,491 7,516 16,586 15,235 12,142 of which: IBRD 2,655 1,816 2,477 2,153 2,825 4,968 5,383 4,515 IDA 351 420 412 468 423 509 439 382 Bilateral 2,551 943 1,157 2,869 3,782 4,453 4,935 2,756 Private creditors 14,319 30,685 46,820 59,074 29,080 41,744 66,256 55,178 of which: Bonds 7,762 8,282 14,574 19,712 8,839 12,213 27,801 25,177 Commercial banks 5,337 12,953 23,551 29,467 11,466 9,686 22,328 12,344 Private nonguaranteed 15,833 110,158 150,542 220,779 273,187 129,762 144,235 182,437 of which: Bonds 566 14,225 21,410 21,287 1,920 4,335 7,081 10,898 Principal repayments 26,388 85,099 100,917 119,264 169,443 176,370 192,292 184,438 Public and publicly guaranteed 12,745 39,083 46,457 34,978 41,154 36,015 47,940 37,148 Official creditors 5,802 23,884 30,932 6,621 6,301 5,849 6,022 8,334 Multilateral 2,269 4,033 3,754 3,815 4,016 3,824 3,831 4,864 of which: IBRD 961 2,932 2,654 2,411 2,472 2,336 2,259 2,348 IDA 6 23 38 56 75 92 105 120 Bilateral 3,533 19,852 27,177 2,806 2,285 2,025 2,191 3,470 Private creditors 6,943 15,199 15,525 28,358 34,852 30,166 41,918 28,814 of which: Bonds 2,230 10,553 8,454 15,588 10,154 8,782 8,644 9,485 Commercial banks 2,437 3,131 6,095 8,866 21,429 13,961 25,921 16,327 Private nonguaranteed 13,644 46,015 54,460 84,285 128,289 140,355 144,352 147,290 of which: Bonds 930 1,982 1,530 2,414 18,572 4,911 4,965 12,961 Interest payments 12,192 18,773 23,641 32,411 41,704 39,164 36,517 42,088 Public and publicly guaranteed 8,533 11,333 11,114 12,678 13,221 12,382 12,290 12,493 Official creditors 3,003 4,043 3,535 2,654 2,689 2,338 1,956 2,546 Multilateral 1,566 1,442 1,582 1,901 1,919 1,686 1,316 1,687 of which: IBRD 1,080 872 1,071 1,217 1,083 848 405 472 IDA 19 45 47 50 54 53 56 62 Bilateral 1,437 2,602 1,953 754 770 652 640 859 Private creditors 5,529 7,290 7,579 10,024 10,531 10,043 10,335 9,947 of which: Bonds 3,648 5,482 5,019 6,176 5,667 5,341 5,441 6,834 Commercial banks 1,366 1,504 2,300 2,646 3,195 2,798 2,014 2,039 Private nonguaranteed 3,659 7,440 12,527 19,733 28,484 26,782 24,227 29,595 of which: Bonds 312 1,865 2,956 4,197 3,358 3,395 3,208 2,878 200 Non-debt flows (bill US$) 200 Debt ratios (%) 150 150 100 100 50 50 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 37 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 760,414 750,571 751,568 850,423 904,989 946,896 1,086,823 1,233,484 Long-term external debt 637,979 615,706 629,512 702,221 753,681 782,687 883,563 1,032,388 Public and publicly guaranteed 396,265 420,796 406,307 427,904 440,444 457,941 502,907 537,896 Private nonguaranteed 241,713 194,911 223,205 274,317 313,237 324,747 380,656 494,493 Use of IMF credit 11,446 15,976 3,741 3,959 3,901 24,709 25,316 25,480 Short-term external debt 110,990 118,888 118,315 144,243 147,407 139,499 177,944 175,615 interest arrears on long-term 1,698 8,905 8,322 10,376 10,947 11,685 6,370 7,039 Memorandum items Principal arrears on long-term 3,551 12,388 13,161 17,017 19,295 20,505 10,001 14,400 Long-term public sector debt 393,314 418,298 404,050 425,667 437,821 454,034 498,680 533,685 Long-term private sector debt 244,664 197,408 225,462 276,555 315,861 328,653 384,883 498,704 Public & publicly guaranteed commitments 66,049 59,008 52,656 62,027 62,288 93,327 93,868 80,943 External debt flows Disbursements 119,838 102,447 135,081 158,613 158,762 161,731 214,210 256,638 Long-term external debt 116,328 101,854 134,517 158,364 158,549 161,284 212,751 256,198 IMF purchases 3,510 593 564 249 213 446 1,459 440 Principal repayments 115,182 111,312 142,020 102,591 102,905 99,977 96,053 115,383 Long-term external debt 100,946 83,139 129,337 102,370 102,733 99,923 95,902 115,191 IMF repurchases 14,237 28,172 12,683 220 173 53 151 192 Net flows 1,738 11,471 -6,929 79,896 58,449 53,108 161,917 138,257 Long-term external debt 15,382 18,715 5,180 55,994 55,816 61,361 116,849 141,008 Short-term external debt -2,917 20,336 10 23,874 2,593 -8,646 43,761 -2,998 Interest payments 55,605 41,400 46,710 48,987 46,146 42,288 45,206 52,051 Long-term external debt 47,975 33,934 40,285 42,019 42,143 39,754 40,459 47,108 IMF charges 892 1,818 452 143 51 63 91 57 Short-term external debt 6,739 5,647 5,973 6,825 3,952 2,471 4,656 4,885 2. Other non-debt resource inflows Foreign direct investment 78,956 74,812 74,449 126,377 137,168 84,910 125,283 158,285 Portfolio equity -561 12,209 11,047 28,821 -9,661 41,574 41,339 6,391 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 9.3 10.4 10.8 9.6 10.5 8.0 6.8 Japanese yen 6.4 3.3 2.9 2.6 3.1 3.7 4.0 3.7 Pound sterling 0.6 0.2 0.2 0.1 0.1 0.4 0.4 0.4 Swiss franc 0.3 0.1 0.1 0.1 0.1 0.2 0.2 0.3 U.S.dollars 71.9 79.8 78.9 77.7 79.4 77.2 77.3 77.0 4. Average terms of new commitments Official creditors Interest (%) 5.9 4.2 5.4 5.1 3.5 2.1 1.8 1.9 Maturity (years) 12.6 19.2 18.9 18.2 20.6 18.8 19.6 19.9 Grace period (years) 2.8 4.8 5.4 4.9 5.3 6.4 6.0 5.2 Private creditors Interest (%) 9.4 6.8 5.8 5.9 6.5 5.3 3.9 4.1 Maturity (years) 12.8 16.9 17.0 22.8 15.9 15.0 22.5 26.4 Grace period (years) 11.6 12.0 12.6 12.5 11.3 10.0 10.9 12.6 5. Major economic aggregates Gross national income (GNI) 1,967,802 2,550,572 3,005,876 3,572,009 4,164,637 3,901,762 4,857,811 5,442,322 Exports of goods, services & prim. income 442,942 657,880 789,138 905,412 1,037,739 821,511 1,017,535 1,246,089 Personal transfers & comp. of employees 20,137 48,946 57,708 61,870 63,013 55,418 55,923 59,368 Imports of goods, services & prim. income 512,531 677,967 808,341 962,623 1,142,674 902,663 1,139,246 1,380,659 Primary income on FDI 22,766 54,228 76,763 90,869 94,925 80,294 96,800 113,256 International reserves 153,491 247,979 301,395 435,940 485,255 535,444 618,997 723,641 6. Ratios External debt stocks to exports (%) 171.7 114.1 95.2 93.9 87.2 115.3 106.8 99.0 External debt stocks to GNI (%) 38.6 29.4 25.0 23.8 21.7 24.3 22.4 22.7 Debt service to exports (%) 38.6 23.2 24.3 16.7 14.4 17.3 13.9 13.4 Short-term to external debt stocks (%) 14.6 15.8 15.7 17.0 16.3 14.7 16.4 14.2 Multilateral to external debt stocks (%) 12.3 13.8 12.8 11.2 11.2 12.2 12.2 10.8 Reserves to external debt stocks (%) 20.2 33.0 40.1 51.3 53.6 56.5 57.0 58.7 Reserves to imports (months) 3.6 4.4 4.5 5.4 5.1 7.1 6.5 6.3 38 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 637,979 615,706 629,512 702,221 753,681 782,687 883,563 1,032,388 Public and publicly guaranteed 396,265 420,796 406,307 427,904 440,444 457,941 502,907 537,896 Official creditors 140,118 134,238 123,928 121,550 130,959 149,541 171,119 174,530 Multilateral 93,427 103,378 96,029 95,545 101,647 115,346 132,264 133,426 of which: IBRD 37,424 34,945 31,515 31,521 33,844 40,427 48,523 45,325 IDA 3,385 5,048 1,528 1,691 1,776 1,467 1,605 1,802 Bilateral 46,691 30,859 27,899 26,005 29,312 34,195 38,855 41,104 Private creditors 256,147 286,558 282,379 306,354 309,486 308,400 331,787 363,366 of which: Bonds 216,334 243,810 240,787 260,368 264,735 268,336 287,551 317,669 Commercial banks 31,361 38,356 38,441 41,880 41,376 35,890 38,928 40,691 Private nonguaranteed 241,713 194,911 223,205 274,317 313,237 324,747 380,656 494,493 of which: Bonds 60,325 75,499 82,939 95,586 83,128 104,023 151,153 163,797 Disbursements 116,328 101,854 134,517 158,364 158,549 161,284 212,751 256,198 Public and publicly guaranteed 58,430 57,730 51,631 54,542 63,663 73,625 92,503 80,545 Official creditors 16,202 12,872 16,770 14,755 19,473 31,154 35,503 23,076 Multilateral 13,366 10,530 14,671 13,055 15,833 24,331 26,965 17,398 of which: IBRD 5,594 3,549 5,568 3,064 5,676 10,788 11,151 6,046 IDA 202 306 178 129 114 157 210 220 Bilateral 2,837 2,342 2,099 1,700 3,640 6,822 8,538 5,678 Private creditors 42,228 44,858 34,861 39,787 44,191 42,472 57,000 57,468 of which: Bonds 35,022 38,184 26,997 33,737 36,212 37,371 43,223 46,682 Commercial banks 6,460 6,169 7,267 5,717 7,819 4,436 11,315 9,895 Private nonguaranteed 57,898 44,124 82,886 103,821 94,885 87,659 120,248 175,654 of which: Bonds 8,312 16,018 20,751 26,935 10,020 29,466 54,971 62,727 Principal repayments 100,946 83,139 129,337 102,370 102,733 99,923 95,902 115,191 Public and publicly guaranteed 42,922 42,846 73,554 47,265 47,673 39,162 39,840 45,775 Official creditors 16,902 16,579 24,482 15,804 12,845 13,507 14,348 18,489 Multilateral 9,918 10,888 19,204 10,792 10,478 9,824 10,181 15,328 of which: IBRD 3,798 4,560 9,141 3,309 3,404 4,298 3,058 9,162 IDA 18 39 29 14 24 20 46 14 Bilateral 6,985 5,691 5,278 5,013 2,367 3,683 4,167 3,161 Private creditors 26,020 26,267 49,072 31,461 34,827 25,655 25,492 27,285 of which: Bonds 17,488 18,231 38,013 24,421 28,127 13,377 17,529 16,415 Commercial banks 6,930 7,251 9,908 6,258 6,069 11,089 6,633 9,564 Private nonguaranteed 58,024 40,293 55,784 55,105 55,060 60,761 56,062 69,416 of which: Bonds 8,849 10,583 13,165 13,292 9,228 7,534 7,814 7,828 Interest payments 47,975 33,934 40,285 42,019 42,143 39,754 40,459 47,108 Public and publicly guaranteed 29,951 24,805 25,353 26,721 25,135 23,288 23,516 25,844 Official creditors 8,488 5,532 5,945 5,957 5,439 4,892 4,681 4,787 Multilateral 6,304 4,416 4,956 4,998 4,646 4,080 3,752 3,787 of which: IBRD 2,801 1,506 1,813 1,780 1,544 1,302 1,050 1,075 IDA 17 37 23 12 14 12 11 13 Bilateral 2,184 1,116 990 959 793 812 929 1,000 Private creditors 21,463 19,273 19,408 20,764 19,696 18,396 18,835 21,056 of which: Bonds 17,942 17,456 17,527 18,880 17,951 16,386 17,510 19,585 Commercial banks 2,713 1,617 1,705 1,579 1,488 1,712 1,072 1,228 Private nonguaranteed 18,024 9,129 14,932 15,298 17,008 16,466 16,943 21,264 of which: Bonds 5,185 4,534 7,607 7,177 6,123 6,609 8,054 10,749 200 Non-debt flows (bill US$) 200 Debt ratios (%) 150 150 100 100 50 50 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 39 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 143,768 150,577 144,668 156,178 148,078 159,906 166,058 166,124 Long-term external debt 116,433 122,189 114,901 123,121 117,081 118,812 120,505 119,765 Public and publicly guaranteed 112,462 115,404 108,230 116,387 110,231 112,463 113,877 112,400 Private nonguaranteed 3,970 6,785 6,671 6,734 6,850 6,348 6,628 7,365 Use of IMF credit 3,465 1,574 1,502 1,501 1,350 8,342 8,328 8,199 Short-term external debt 23,870 26,814 28,265 31,556 29,647 32,752 37,225 38,160 interest arrears on long-term 2,629 298 307 256 259 326 342 351 Memorandum items Principal arrears on long-term 9,977 509 482 442 419 418 424 484 Long-term public sector debt 112,097 114,755 107,479 115,230 109,163 111,456 112,944 111,539 Long-term private sector debt 4,336 7,434 7,422 7,892 7,918 7,356 7,561 8,226 Public & publicly guaranteed commitments 10,177 13,630 12,456 10,676 10,140 11,924 18,837 10,866 External debt flows Disbursements 9,241 14,882 12,028 15,112 11,918 13,612 14,904 13,645 Long-term external debt 9,218 14,882 12,028 15,034 11,872 13,610 14,851 13,638 IMF purchases 24 0 0 78 46 2 53 7 Principal repayments 10,851 14,905 24,903 14,409 16,308 13,311 12,159 13,992 Long-term external debt 10,613 14,160 24,752 14,243 16,173 13,247 12,105 13,924 IMF repurchases 238 745 150 166 135 64 54 68 Net flows 788 545 -11,434 4,045 -6,300 3,339 7,201 581 Long-term external debt -1,396 722 -12,725 791 -4,301 363 2,746 -286 Short-term external debt 2,398 568 1,441 3,342 -1,910 3,038 4,456 927 Interest payments 6,097 6,188 6,407 6,199 5,525 4,882 4,839 4,877 Long-term external debt 4,888 4,748 4,744 4,728 4,767 4,380 4,270 4,229 IMF charges 171 63 58 51 16 22 27 10 Short-term external debt 1,039 1,377 1,605 1,420 742 480 542 638 2. Other non-debt resource inflows Foreign direct investment 3,720 16,879 27,338 28,111 29,553 26,320 22,282 15,422 Portfolio equity 252 2,410 963 -2,096 422 1,200 1,957 -195 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 30.9 33.3 35.7 33.9 34.5 33.0 31.8 Japanese yen 11.1 9.4 8.7 8.3 10.4 9.8 10.1 9.9 Pound sterling 0.8 1.6 1.5 1.4 0.5 0.5 0.5 0.5 Swiss franc 1.1 1.5 1.4 1.2 1.1 1.2 1.2 1.1 U.S.dollars 49.5 43.0 41.0 38.7 38.4 37.6 38.5 38.8 4. Average terms of new commitments Official creditors Interest (%) 4.5 3.7 3.5 3.4 3.0 2.2 1.8 1.7 Maturity (years) 19.8 19.1 22.6 19.8 21.2 21.2 22.1 20.9 Grace period (years) 5.6 5.3 7.0 5.8 5.7 5.8 5.9 4.8 Private creditors Interest (%) 7.1 5.6 6.8 5.8 8.5 7.5 4.7 5.8 Maturity (years) 8.2 8.1 10.9 8.4 5.9 7.4 14.4 9.3 Grace period (years) 4.5 6.0 7.8 6.1 5.6 6.4 10.7 9.3 5. Major economic aggregates Gross national income (GNI) 364,785 543,094 626,704 764,364 930,010 924,051 1,013,477 1,104,112 Exports of goods, services & prim. income 117,615 204,061 250,934 295,058 374,548 310,621 322,247 373,284 Personal transfers & comp. of employees 10,460 21,757 23,704 28,899 32,525 30,303 36,489 39,352 Imports of goods, services & prim. income 105,104 196,670 219,743 268,838 343,660 324,863 342,821 375,543 Primary income on FDI 1,721 10,685 11,672 11,376 13,463 13,976 17,349 16,614 International reserves 44,145 138,225 173,687 217,792 260,567 280,516 298,452 267,165 6. Ratios External debt stocks to exports (%) 122.2 73.8 57.7 52.9 39.5 51.5 51.5 44.5 External debt stocks to GNI (%) 39.4 27.7 23.1 20.4 15.9 17.3 16.4 15.0 Debt service to exports (%) 14.4 10.3 12.5 7.0 5.8 5.9 5.3 5.1 Short-term to external debt stocks (%) 16.6 17.8 19.5 20.2 20.0 20.5 22.4 23.0 Multilateral to external debt stocks (%) 16.1 17.2 17.9 19.7 21.0 21.8 21.8 23.0 Reserves to external debt stocks (%) 30.7 91.8 120.1 139.5 176.0 175.4 179.7 160.8 Reserves to imports (months) 5.0 8.4 9.5 9.7 9.1 10.4 10.4 8.5 40 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 116,433 122,189 114,901 123,121 117,081 118,812 120,505 119,765 Public and publicly guaranteed 112,462 115,404 108,230 116,387 110,231 112,463 113,877 112,400 Official creditors 88,103 77,635 70,415 76,825 74,644 78,130 77,939 78,327 Multilateral 23,099 25,955 25,901 30,777 31,142 34,905 36,155 38,189 of which: IBRD 7,664 6,757 6,144 7,447 7,123 8,016 8,532 9,409 IDA 2,685 3,344 3,616 3,795 3,802 3,831 3,751 3,641 Bilateral 65,004 51,679 44,514 46,048 43,502 43,224 41,784 40,138 Private creditors 24,359 37,769 37,815 39,562 35,587 34,334 35,938 34,072 of which: Bonds 7,323 21,519 22,811 24,232 23,577 23,508 26,605 25,968 Commercial banks 8,412 8,751 8,114 9,011 7,552 7,225 6,487 5,978 Private nonguaranteed 3,970 6,785 6,671 6,734 6,850 6,348 6,628 7,365 of which: Bonds 836 1,011 805 530 470 670 500 500 Disbursements 9,218 14,882 12,028 15,034 11,872 13,610 14,851 13,638 Public and publicly guaranteed 7,937 12,962 10,781 13,197 9,664 11,990 13,404 11,958 Official creditors 3,407 5,490 5,112 7,162 6,332 8,138 7,182 7,453 Multilateral 1,942 3,882 3,497 5,563 3,702 5,754 4,900 5,474 of which: IBRD 532 895 739 1,723 684 1,625 1,409 1,738 IDA 118 202 225 145 126 110 84 17 Bilateral 1,465 1,608 1,615 1,600 2,630 2,384 2,282 1,979 Private creditors 4,530 7,472 5,669 6,035 3,332 3,852 6,222 4,505 of which: Bonds 2,031 4,144 3,799 3,635 2,257 2,894 5,502 3,959 Commercial banks 1,092 2,282 1,459 2,081 875 892 696 528 Private nonguaranteed 1,281 1,920 1,247 1,837 2,208 1,620 1,447 1,681 of which: Bonds 115 530 0 0 0 200 0 0 Principal repayments 10,613 14,160 24,752 14,243 16,173 13,247 12,105 13,924 Public and publicly guaranteed 10,377 13,325 23,078 11,808 14,172 10,998 10,248 12,536 Official creditors 5,915 7,856 16,194 5,891 7,945 5,628 5,920 6,448 Multilateral 2,014 3,407 4,763 2,636 2,618 2,352 2,476 2,886 of which: IBRD 869 1,030 1,673 771 986 731 572 704 IDA 45 76 82 90 98 103 108 119 Bilateral 3,901 4,449 11,431 3,256 5,327 3,275 3,444 3,562 Private creditors 4,462 5,470 6,884 5,916 6,227 5,370 4,328 6,088 of which: Bonds 811 1,881 2,808 2,619 3,018 3,020 2,151 4,587 Commercial banks 1,425 1,766 2,473 1,919 1,705 1,314 1,359 840 Private nonguaranteed 237 834 1,675 2,436 2,001 2,250 1,857 1,388 of which: Bonds 50 265 206 275 60 0 170 0 Interest payments 4,888 4,748 4,744 4,728 4,767 4,380 4,270 4,229 Public and publicly guaranteed 4,733 4,457 4,438 4,451 4,500 4,111 4,040 4,014 Official creditors 3,130 2,504 2,277 2,150 2,244 2,036 2,124 1,936 Multilateral 1,305 1,016 1,037 1,096 1,207 1,082 984 1,014 of which: IBRD 602 308 296 329 352 260 161 167 IDA 20 28 27 28 30 28 28 30 Bilateral 1,825 1,487 1,240 1,054 1,038 954 1,140 922 Private creditors 1,603 1,953 2,161 2,301 2,256 2,074 1,916 2,077 of which: Bonds 455 1,312 1,445 1,559 1,590 1,666 1,641 1,844 Commercial banks 569 321 401 432 400 266 192 170 Private nonguaranteed 154 291 306 278 266 270 230 215 of which: Bonds 69 90 74 57 40 43 51 38 40 Non-debt flows (bill US$) 200 Debt ratios (%) 30 150 20 100 10 50 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 41 SOUTH ASIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 162,149 189,345 234,448 289,122 322,667 363,024 403,879 454,138 Long-term external debt 152,899 173,889 202,028 243,633 266,251 292,230 319,639 347,385 Public and publicly guaranteed 134,385 115,858 127,172 144,602 156,200 169,603 188,771 201,453 Private nonguaranteed 18,514 58,031 74,855 99,031 110,051 122,627 130,868 145,931 Use of IMF credit 3,199 3,614 3,752 3,871 6,933 18,663 20,319 20,289 Short-term external debt 6,051 11,842 28,668 41,618 49,484 52,131 63,922 86,465 interest arrears on long-term 112 21 18 36 33 47 100 266 Memorandum items Principal arrears on long-term 221 5 90 150 87 141 159 170 Long-term public sector debt 133,612 115,688 127,025 144,471 156,010 169,404 188,536 201,187 Long-term private sector debt 19,287 58,201 75,002 99,161 110,240 122,826 131,103 146,197 Public & publicly guaranteed commitments 12,817 10,235 12,965 20,650 17,510 22,844 25,108 30,318 External debt flows Disbursements 14,190 24,595 38,828 71,512 49,081 39,209 52,368 51,260 Long-term external debt 13,995 24,339 38,656 71,424 45,638 35,232 50,043 50,806 IMF purchases 195 256 171 88 3,443 3,978 2,325 454 Principal repayments 9,798 22,028 15,140 35,092 27,387 15,507 24,092 26,354 Long-term external debt 9,315 21,753 14,879 34,935 27,119 15,150 23,742 25,934 IMF repurchases 483 275 261 157 268 356 349 419 Net flows 3,454 4,851 40,516 49,352 29,562 26,336 40,013 47,284 Long-term external debt 4,680 2,586 23,777 36,489 18,519 20,081 26,300 24,872 Short-term external debt -938 2,284 16,972 13,078 7,964 2,740 11,777 22,456 Interest payments 5,715 5,726 6,439 9,085 9,065 7,219 7,420 8,981 Long-term external debt 5,277 5,213 5,758 6,942 7,330 6,468 6,452 7,795 IMF charges 116 69 88 78 36 98 170 212 Short-term external debt 323 446 593 2,065 1,700 653 797 973 2. Other non-debt resource inflows Foreign direct investment 4,368 10,883 25,780 32,432 50,839 39,289 30,398 35,728 Portfolio equity 2,518 12,406 10,388 33,970 -15,836 24,118 29,917 -4,807 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 7.5 7.5 7.1 6.2 5.9 5.0 4.6 Japanese yen 15.3 19.0 18.2 16.8 19.8 18.1 18.7 18.6 Pound sterling 2.8 2.2 1.9 1.5 1.3 1.1 0.9 0.8 Swiss franc 0.3 0.3 0.2 0.2 0.2 0.1 0.1 0.2 U.S.dollars 56.6 54.3 55.7 56.8 55.2 57.9 59.4 60.1 4. Average terms of new commitments Official creditors Interest (%) 5.1 2.0 3.2 3.4 1.9 1.4 1.8 1.0 Maturity (years) 23.2 27.5 27.1 26.4 26.9 25.7 27.8 27.7 Grace period (years) 6.3 7.8 6.4 7.0 6.5 6.6 7.9 4.8 Private creditors Interest (%) 4.3 4.7 4.7 6.7 4.1 4.3 2.9 3.3 Maturity (years) 5.2 6.1 7.9 9.2 9.0 4.1 7.2 7.9 Grace period (years) 4.6 4.1 6.8 4.6 2.7 3.0 4.5 6.3 5. Major economic aggregates Gross national income (GNI) 618,276 1,044,284 1,185,116 1,507,996 1,536,909 1,686,993 2,043,974 2,268,446 Exports of goods, services & prim. income 88,739 201,331 247,985 304,193 380,258 327,876 426,178 526,062 Personal transfers & comp. of employees 17,206 33,909 42,507 54,024 71,615 74,772 81,625 97,534 Imports of goods, services & prim. income 116,954 258,656 315,685 383,362 507,926 436,126 567,694 696,867 Primary income on FDI 721 7,979 11,542 15,236 16,585 16,196 19,082 20,562 International reserves 43,326 149,529 191,528 292,620 268,668 298,764 315,362 310,608 6. Ratios External debt stocks to exports (%) 182.7 94.0 94.5 95.0 84.9 110.7 94.8 86.3 External debt stocks to GNI (%) 26.2 18.1 19.8 19.2 21.0 21.5 19.8 20.0 Debt service to exports (%) 17.5 13.8 8.7 14.5 9.6 6.9 7.4 6.7 Short-term to external debt stocks (%) 3.7 6.3 12.2 14.4 15.3 14.4 15.8 19.0 Multilateral to external debt stocks (%) 37.6 36.5 32.4 28.8 27.6 26.2 24.9 22.9 Reserves to external debt stocks (%) 26.7 79.0 81.7 101.2 83.3 82.3 78.1 68.4 Reserves to imports (months) 4.4 6.9 7.3 9.2 6.3 8.2 6.7 5.3 42 SOUTH ASIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 152,899 173,889 202,028 243,633 266,251 292,230 319,639 347,385 Public and publicly guaranteed 134,385 115,858 127,172 144,602 156,200 169,603 188,771 201,453 Official creditors 101,708 109,134 116,861 127,359 137,872 145,842 156,089 163,418 Multilateral 61,032 69,051 75,924 83,286 88,984 95,037 100,462 104,202 of which: IBRD 10,209 7,514 8,151 8,766 9,376 10,151 12,868 13,134 IDA 31,963 42,193 45,803 48,915 49,529 51,505 51,233 52,821 Bilateral 40,677 40,083 40,936 44,073 48,888 50,806 55,626 59,216 Private creditors 32,677 6,724 10,312 17,243 18,327 23,760 32,682 38,035 of which: Bonds 10,928 2,525 4,178 7,879 7,670 12,671 18,250 21,067 Commercial banks 19,561 3,722 5,452 8,565 9,901 10,404 13,761 16,315 Private nonguaranteed 18,514 58,031 74,855 99,031 110,051 122,627 130,868 145,931 of which: Bonds 1,560 6,461 11,204 16,277 15,682 16,176 13,467 11,111 Disbursements 13,995 24,339 38,656 71,424 45,638 35,232 50,043 50,806 Public and publicly guaranteed 13,409 10,877 14,193 22,200 24,638 17,868 30,695 21,045 Official creditors 6,130 7,295 8,288 9,295 11,237 12,776 13,686 12,850 Multilateral 4,334 5,620 6,244 6,989 7,937 8,787 9,208 7,514 of which: IBRD 866 1,081 1,134 1,178 1,176 1,498 3,395 1,045 IDA 1,655 2,709 2,452 2,572 2,151 2,944 1,944 3,228 Bilateral 1,795 1,675 2,044 2,306 3,300 3,989 4,477 5,336 Private creditors 7,279 3,582 5,905 12,905 13,401 5,092 17,010 8,195 of which: Bonds 5,520 2,314 3,252 8,639 11,507 2,265 12,050 3,028 Commercial banks 927 1,250 2,371 4,129 1,865 2,819 4,932 5,119 Private nonguaranteed 586 13,462 24,463 49,224 21,000 17,363 19,347 29,761 of which: Bonds 0 3,520 4,799 7,793 594 2,473 1,288 737 Principal repayments 9,315 21,753 14,879 34,935 27,119 15,150 23,742 25,934 Public and publicly guaranteed 8,607 14,493 6,985 11,360 16,341 8,715 8,858 10,090 Official creditors 5,351 4,468 4,652 4,818 5,598 5,425 6,038 7,092 Multilateral 2,827 2,160 2,481 2,514 3,079 3,163 3,408 3,853 of which: IBRD 1,231 523 543 631 687 707 726 800 IDA 548 949 1,069 1,112 1,223 1,321 1,349 1,453 Bilateral 2,524 2,308 2,171 2,304 2,519 2,262 2,631 3,238 Private creditors 3,256 10,024 2,334 6,543 10,743 3,290 2,820 2,998 of which: Bonds 50 8,565 1,597 5,313 9,533 1,088 748 200 Commercial banks 2,868 1,262 659 1,188 1,134 2,128 1,998 2,717 Private nonguaranteed 707 7,260 7,894 23,575 10,779 6,435 14,884 15,845 of which: Bonds 35 117 57 409 880 1,779 2,451 2,847 Interest payments 5,277 5,213 5,758 6,942 7,330 6,468 6,452 7,795 Public and publicly guaranteed 4,396 3,940 2,421 2,740 2,947 2,699 2,729 2,661 Official creditors 2,274 1,907 2,062 2,257 2,308 2,154 2,037 2,066 Multilateral 1,366 893 1,133 1,326 1,332 1,091 832 901 of which: IBRD 613 252 387 470 401 266 104 115 IDA 236 342 343 355 388 371 380 419 Bilateral 908 1,014 929 931 976 1,063 1,205 1,164 Private creditors 2,121 2,033 359 483 639 545 692 595 of which: Bonds 210 1,849 154 211 290 259 232 286 Commercial banks 1,805 169 195 262 329 269 241 295 Private nonguaranteed 881 1,272 3,338 4,202 4,383 3,769 3,723 5,134 of which: Bonds 227 151 276 404 345 346 451 870 70 Non-debt flows (bill US$) 200 Debt ratios (%) 60 150 50 40 100 30 20 50 10 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 43 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 213,468 234,431 193,933 218,459 225,322 248,619 271,205 295,598 Long-term external debt 173,198 190,636 141,875 159,647 162,539 183,590 204,243 230,149 Public and publicly guaranteed 161,850 176,096 124,384 131,074 136,965 151,583 161,496 179,583 Private nonguaranteed 11,348 14,540 17,491 28,573 25,574 32,007 42,747 50,566 Use of IMF credit 8,720 8,125 5,433 5,749 6,311 20,039 19,526 20,792 Short-term external debt 31,550 35,670 46,625 53,063 56,472 44,990 47,435 44,657 interest arrears on long-term 13,577 14,290 15,179 14,620 13,657 11,619 11,302 9,006 Memorandum items Principal arrears on long-term 25,501 24,189 24,807 23,028 21,457 19,873 17,620 18,026 Long-term public sector debt 160,943 175,998 124,347 131,048 136,946 151,565 161,485 179,571 Long-term private sector debt 12,255 14,638 17,528 28,600 25,593 32,025 42,758 50,578 Public & publicly guaranteed commitments 8,365 23,932 12,909 19,146 18,396 30,062 32,260 37,318 External debt flows Disbursements 10,161 16,129 13,390 24,094 15,523 22,946 24,408 30,746 Long-term external debt 9,637 15,806 13,093 23,740 14,111 20,323 23,064 29,251 IMF purchases 525 323 298 354 1,413 2,623 1,344 1,495 Principal repayments 9,038 13,251 18,178 12,549 9,856 9,707 8,732 10,224 Long-term external debt 8,579 12,504 17,821 12,253 9,169 9,322 8,583 10,093 IMF repurchases 460 747 357 296 687 385 149 130 Net flows -1,762 6,961 5,279 18,542 10,039 3,787 18,438 20,040 Long-term external debt 1,058 3,302 -4,728 11,487 4,942 11,000 14,481 19,158 Short-term external debt -2,885 4,083 10,066 6,997 4,372 -9,451 2,763 -483 Interest payments 4,535 8,688 5,044 5,986 5,584 4,685 5,481 5,973 Long-term external debt 3,323 7,808 3,907 4,416 3,939 3,655 4,500 5,110 IMF charges 130 93 132 95 513 60 51 30 Short-term external debt 1,082 786 1,006 1,474 1,132 970 930 832 2. Other non-debt resource inflows Foreign direct investment 6,502 19,121 16,114 27,764 39,110 32,496 26,689 41,319 Portfolio equity 4,164 8,079 16,805 10,144 -5,702 10,750 8,075 -1,058 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 19.3 21.8 21.1 18.8 18.9 13.1 11.9 Japanese yen 4.1 3.4 3.2 2.7 3.8 3.1 2.5 2.6 Pound sterling 2.1 4.2 1.7 1.5 1.0 1.1 0.7 0.7 Swiss franc 1.5 1.9 2.4 2.4 2.5 2.5 3.0 3.2 U.S.dollars 61.3 52.3 48.9 49.6 51.3 49.8 48.8 50.8 4. Average terms of new commitments Official creditors Interest (%) 1.1 4.3 1.6 1.5 1.7 1.6 1.8 3.4 Maturity (years) 36.2 21.5 29.1 31.0 29.3 23.9 25.6 22.1 Grace period (years) 9.1 4.5 7.1 7.9 7.8 6.2 6.8 4.1 Private creditors Interest (%) 5.8 5.6 6.8 6.7 4.3 6.0 3.0 4.8 Maturity (years) 7.7 7.2 11.2 8.8 6.7 8.2 13.8 10.8 Grace period (years) 2.1 1.9 4.9 5.3 1.0 4.5 5.6 5.5 5. Major economic aggregates Gross national income (GNI) 320,844 603,628 709,952 813,117 925,474 890,343 1,038,607 1,190,518 Exports of goods, services & prim. income 114,493 237,303 277,029 331,298 400,219 302,705 389,346 472,915 Personal transfers & comp. of employees 4,825 20,547 23,679 26,425 29,849 27,883 29,187 30,889 Imports of goods, services & prim. income 118,957 242,780 288,106 368,970 455,439 375,975 449,758 550,705 Primary income on FDI 7,983 17,737 24,024 39,405 47,150 33,506 45,933 39,459 International reserves 34,337 79,775 111,569 139,692 150,208 152,929 152,197 168,337 6. Ratios External debt stocks to exports (%) 186.4 98.8 70.0 65.9 56.3 82.1 69.7 62.5 External debt stocks to GNI (%) 66.5 38.8 27.3 26.9 24.3 27.9 26.1 24.8 Debt service to exports (%) 11.9 9.2 8.4 5.6 3.9 4.8 3.7 3.4 Short-term to external debt stocks (%) 14.8 15.2 24.0 24.3 25.1 18.1 17.5 15.1 Multilateral to external debt stocks (%) 25.6 31.0 22.3 22.0 22.3 22.1 21.6 21.2 Reserves to external debt stocks (%) 16.1 34.0 57.5 63.9 66.7 61.5 56.1 56.9 Reserves to imports (months) 3.5 3.9 4.6 4.5 4.0 4.9 4.1 3.7 44 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 173,198 190,636 141,875 159,647 162,539 183,590 204,243 230,149 Public and publicly guaranteed 161,850 176,096 124,384 131,074 136,965 151,583 161,496 179,583 Official creditors 135,684 135,625 88,135 93,464 96,612 105,961 105,238 112,262 Multilateral 54,585 72,558 43,210 48,071 50,269 54,836 58,505 62,706 of which: IBRD 3,477 2,015 1,799 1,524 994 900 1,175 1,427 IDA 33,574 48,444 24,187 27,325 29,318 31,612 32,943 34,917 Bilateral 81,098 63,067 44,925 45,393 46,344 51,125 46,733 49,555 Private creditors 26,166 40,471 36,248 37,611 40,353 45,623 56,258 67,321 of which: Bonds 9,150 16,934 15,913 17,684 18,009 22,597 34,327 41,356 Commercial banks 8,439 17,878 15,585 15,941 18,538 18,484 17,206 20,231 Private nonguaranteed 11,348 14,540 17,491 28,573 25,574 32,007 42,747 50,566 of which: Bonds 1,360 1,307 1,484 6,715 6,017 6,049 5,471 7,104 Disbursements 9,637 15,806 13,093 23,740 14,111 20,323 23,064 29,251 Public and publicly guaranteed 7,518 12,546 9,904 16,462 13,130 17,559 19,882 23,800 Official creditors 4,139 6,136 6,537 7,744 8,048 11,064 15,137 13,773 Multilateral 3,355 4,758 4,548 4,978 5,012 7,130 7,517 7,235 of which: IBRD 75 14 1 31 45 113 405 330 IDA 2,193 2,943 2,749 2,987 2,898 3,444 3,943 3,408 Bilateral 784 1,378 1,989 2,766 3,036 3,934 7,620 6,538 Private creditors 3,379 6,410 3,367 8,718 5,082 6,495 4,745 10,027 of which: Bonds 765 0 2,076 3,525 0 2,200 2,000 4,510 Commercial banks 1,752 6,134 850 4,935 4,743 3,014 1,841 5,158 Private nonguaranteed 2,119 3,260 3,189 7,278 980 2,764 3,182 5,451 of which: Bonds 712 1,307 0 5,587 0 0 0 1,733 Principal repayments 8,579 12,504 17,821 12,253 9,169 9,322 8,583 10,093 Public and publicly guaranteed 7,181 11,797 15,310 10,241 7,262 7,918 6,478 7,202 Official creditors 3,440 6,593 8,162 5,152 3,740 3,352 2,991 3,705 Multilateral 1,630 1,549 1,545 1,731 1,989 1,764 1,272 1,476 of which: IBRD 552 286 284 406 620 202 123 75 IDA 225 248 238 195 463 266 255 434 Bilateral 1,811 5,044 6,617 3,421 1,751 1,589 1,719 2,229 Private creditors 3,741 5,205 7,148 5,089 3,522 4,566 3,487 3,497 of which: Bonds 502 1,091 2,832 175 890 250 23 104 Commercial banks 2,444 3,529 3,176 3,862 2,188 3,844 3,041 2,984 Private nonguaranteed 1,398 706 2,511 2,012 1,907 1,405 2,105 2,891 of which: Bonds 0 0 0 1,390 698 0 578 100 Interest payments 3,323 7,808 3,907 4,416 3,939 3,655 4,500 5,110 Public and publicly guaranteed 2,918 7,456 3,469 3,875 3,382 3,073 3,027 3,601 Official creditors 1,826 5,856 1,396 2,063 1,646 1,523 1,135 1,220 Multilateral 844 758 691 1,054 924 860 615 700 of which: IBRD 213 53 47 339 109 22 19 9 IDA 199 313 240 179 277 196 204 250 Bilateral 983 5,098 705 1,010 721 663 520 520 Private creditors 1,092 1,600 2,073 1,812 1,737 1,550 1,892 2,381 of which: Bonds 564 992 1,039 903 1,048 1,060 1,664 2,115 Commercial banks 303 424 779 751 550 396 171 207 Private nonguaranteed 405 352 438 541 556 582 1,473 1,509 of which: Bonds 41 61 89 132 241 241 1,027 1,127 50 Non-debt flows (bill US$) 200 Debt ratios (%) 40 150 30 100 20 50 10 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 45 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 111,562 120,288 101,973 110,998 117,392 127,184 125,155 133,292 Long-term external debt 94,772 104,748 86,292 93,336 98,883 104,098 102,173 108,530 Public and publicly guaranteed 92,225 103,939 85,355 92,085 96,005 101,076 98,241 103,019 Private nonguaranteed 2,546 809 937 1,251 2,878 3,022 3,933 5,511 Use of IMF credit 5,231 5,598 4,159 4,537 5,402 11,949 10,735 11,222 Short-term external debt 11,560 9,942 11,523 13,124 13,108 11,137 12,246 13,540 interest arrears on long-term 7,795 7,105 7,538 7,578 6,635 5,659 5,467 5,170 Memorandum items Principal arrears on long-term 15,806 13,987 14,658 14,241 13,211 14,170 13,124 12,423 Long-term public sector debt 91,928 103,778 85,246 91,960 95,880 100,942 98,092 102,870 Long-term private sector debt 2,843 970 1,046 1,376 3,003 3,155 4,081 5,660 Public & publicly guaranteed commitments 4,323 6,390 8,089 9,415 9,746 11,090 14,557 15,299 External debt flows Disbursements 4,110 5,680 5,913 6,679 9,669 11,540 11,485 12,778 Long-term external debt 3,713 5,277 5,588 6,293 8,056 10,036 10,707 12,012 IMF purchases 397 402 324 386 1,613 1,505 779 766 Principal repayments 2,445 2,525 2,202 2,700 3,034 3,091 4,330 4,713 Long-term external debt 2,045 2,059 1,939 2,490 2,425 2,797 4,137 4,488 IMF repurchases 400 466 264 210 609 293 194 225 Net flows 1,264 2,354 4,858 5,541 7,561 7,455 8,456 9,656 Long-term external debt 1,669 3,219 3,649 3,803 5,631 7,238 6,570 7,524 Short-term external debt -402 -801 1,291 1,708 1,022 -889 1,341 1,669 Interest payments 1,185 1,057 1,127 1,647 1,836 1,201 1,142 1,280 Long-term external debt 848 867 854 1,354 1,177 1,062 1,013 1,139 IMF charges 88 56 90 59 507 46 26 10 Short-term external debt 251 136 183 233 152 93 103 131 2. Other non-debt resource inflows Foreign direct investment 2,465 5,422 5,311 9,507 11,366 9,344 14,674 17,008 Portfolio equity 0 45 67 137 -26 7 -35 124 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 8.6 10.8 11.1 9.8 9.3 6.6 6.2 Japanese yen 10.6 9.1 10.4 9.7 10.2 9.4 9.7 10.0 Pound sterling 2.2 1.7 1.4 1.3 1.0 1.0 0.9 0.8 Swiss franc 0.7 0.6 0.7 0.5 0.3 0.3 0.2 0.1 U.S.dollars 51.3 54.3 50.2 50.5 50.9 51.1 50.9 50.8 4. Average terms of new commitments Official creditors Interest (%) 1.2 1.3 1.6 1.5 1.4 1.7 1.1 1.1 Maturity (years) 36.2 34.3 34.5 34.8 33.8 30.4 32.6 32.1 Grace period (years) 9.3 8.5 8.8 8.9 8.9 8.0 9.2 5.3 Private creditors Interest (%) 5.2 4.0 6.3 4.2 4.1 4.0 1.8 2.8 Maturity (years) 11.5 14.2 16.6 10.9 7.8 9.3 17.6 10.0 Grace period (years) 3.2 3.6 3.2 2.5 2.7 2.9 3.9 1.7 5. Major economic aggregates Gross national income (GNI) 162,381 235,456 258,394 304,665 360,670 386,010 419,322 463,930 Exports of goods, services & prim. income 32,417 54,921 66,297 81,478 98,544 88,713 108,926 130,250 Personal transfers & comp. of employees 4,078 9,469 12,132 15,250 20,628 21,318 23,335 26,986 Imports of goods, services & prim. income 46,129 79,609 92,852 116,248 148,634 136,723 162,406 195,100 Primary income on FDI 650 3,679 3,767 4,738 5,310 5,233 5,370 2,812 International reserves 10,446 18,828 23,974 33,536 38,038 52,572 54,110 55,627 6. Ratios External debt stocks to exports (%) 344.1 219.0 153.8 136.2 119.1 143.4 114.9 102.3 External debt stocks to GNI (%) 68.7 51.1 39.5 36.4 32.5 32.9 29.8 28.7 Debt service to exports (%) 11.2 6.5 5.0 5.3 4.9 4.8 5.0 4.6 Short-term to external debt stocks (%) 10.4 8.3 11.3 11.8 11.2 8.8 9.8 10.2 Multilateral to external debt stocks (%) 45.5 58.2 50.3 51.2 51.3 49.8 51.9 49.9 Reserves to external debt stocks (%) 9.4 15.7 23.5 30.2 32.4 41.3 43.2 41.7 Reserves to imports (months) 2.7 2.8 3.1 3.5 3.1 4.6 4.0 3.4 46 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 94,772 104,748 86,292 93,336 98,883 104,098 102,173 108,530 Public and publicly guaranteed 92,225 103,939 85,355 92,085 96,005 101,076 98,241 103,019 Official creditors 88,852 100,526 82,011 88,697 92,850 96,999 94,290 98,454 Multilateral 50,745 70,043 51,282 56,833 60,224 63,361 65,003 66,578 of which: IBRD 718 618 622 480 464 463 463 463 IDA 32,046 46,327 30,385 33,522 35,390 36,398 36,330 37,192 Bilateral 38,108 30,484 30,729 31,865 32,626 33,638 29,287 31,876 Private creditors 3,373 3,413 3,344 3,388 3,155 4,077 3,951 4,565 of which: Bonds 7 1 1 0 0 0 0 0 Commercial banks 1,659 1,649 1,604 1,636 1,570 1,415 1,127 1,967 Private nonguaranteed 2,546 809 937 1,251 2,878 3,022 3,933 5,511 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 3,713 5,277 5,588 6,293 8,056 10,036 10,707 12,012 Public and publicly guaranteed 3,658 5,219 5,405 6,000 7,136 9,258 8,454 9,248 Official creditors 3,475 5,017 5,368 5,974 7,084 8,124 7,571 8,216 Multilateral 3,013 4,436 4,290 4,862 5,346 6,137 5,338 4,920 of which: IBRD 19 1 0 0 0 0 0 0 IDA 1,982 2,752 2,410 2,897 2,947 2,806 2,702 2,419 Bilateral 462 580 1,078 1,112 1,738 1,987 2,233 3,295 Private creditors 183 203 37 26 52 1,134 883 1,032 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 108 71 17 5 2 3 381 932 Private nonguaranteed 55 58 183 293 920 778 2,253 2,764 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 2,045 2,059 1,939 2,490 2,425 2,797 4,137 4,488 Public and publicly guaranteed 1,822 1,945 1,886 2,352 2,119 2,109 2,697 2,604 Official creditors 1,583 1,798 1,728 2,265 2,031 1,992 1,987 2,373 Multilateral 820 1,113 1,165 1,460 1,339 1,261 1,271 1,528 of which: IBRD 106 5 5 167 26 0 0 0 IDA 270 376 407 393 590 487 507 604 Bilateral 763 684 563 805 691 732 716 846 Private creditors 239 147 158 87 89 117 709 230 of which: Bonds 0 1 0 0 0 0 0 0 Commercial banks 129 83 76 19 26 38 590 62 Private nonguaranteed 223 114 53 138 306 689 1,440 1,884 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 848 867 854 1,354 1,177 1,062 1,013 1,139 Public and publicly guaranteed 752 849 843 1,341 1,139 993 900 1,031 Official creditors 687 826 810 1,316 1,119 971 869 985 Multilateral 437 613 584 964 750 630 612 677 of which: IBRD 36 2 2 294 1 0 0 0 IDA 196 320 275 229 276 241 236 277 Bilateral 250 213 226 352 369 341 257 308 Private creditors 65 23 32 24 21 21 31 46 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 36 8 9 5 3 6 14 16 Private nonguaranteed 96 17 12 14 38 69 113 108 of which: Bonds 0 0 0 0 0 0 0 0 20 Non-debt flows (bill US$) 350 Debt ratios (%) 300 15 250 200 10 150 100 5 50 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 47 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 2,025,479 2,456,915 2,699,540 3,310,964 3,560,582 3,795,433 4,287,079 4,742,750 Long-term external debt 1,669,501 1,888,434 2,063,841 2,476,833 2,735,191 2,860,386 3,089,611 3,360,885 Public and publicly guaranteed 1,181,151 1,204,545 1,208,911 1,303,162 1,347,386 1,478,486 1,575,700 1,670,227 Private nonguaranteed 488,350 683,889 854,930 1,173,671 1,387,805 1,381,900 1,513,911 1,690,658 Use of IMF credit 74,140 66,752 40,127 36,675 45,335 136,320 147,401 146,882 Short-term external debt 281,839 501,728 595,572 797,456 780,056 798,728 1,050,067 1,234,983 interest arrears on long-term 24,065 21,597 18,820 20,421 21,189 21,135 16,264 13,535 Memorandum items Principal arrears on long-term 44,982 32,577 30,583 32,547 35,043 36,006 27,177 28,960 Long-term public sector debt 1,175,558 1,200,095 1,204,691 1,298,400 1,341,832 1,466,979 1,563,367 1,658,119 Long-term private sector debt 493,943 688,339 859,150 1,178,433 1,393,358 1,393,407 1,526,244 1,702,766 Public & publicly guaranteed commitments 141,578 166,511 142,571 186,527 176,671 255,897 281,741 261,360 External debt flows Disbursements 234,424 376,167 477,835 645,644 637,266 528,621 662,363 709,435 Long-term external debt 224,706 372,608 474,046 644,016 624,272 501,508 646,271 705,875 IMF purchases 9,717 3,559 3,789 1,628 12,994 27,113 16,092 3,561 Principal repayments 221,004 325,584 379,320 363,151 397,501 395,214 418,796 442,202 Long-term external debt 200,802 281,928 348,764 356,206 394,311 393,664 415,968 438,622 IMF repurchases 20,203 43,656 30,556 6,945 3,191 1,550 2,829 3,579 Net flows 7,997 136,487 195,136 482,231 221,597 152,124 499,777 454,879 Long-term external debt 23,905 90,680 125,282 287,810 229,962 107,844 230,304 267,252 Short-term external debt -5,422 85,904 96,621 199,738 -18,168 18,717 256,210 187,645 Interest payments 112,844 103,252 116,348 135,789 136,841 120,956 151,643 172,543 Long-term external debt 93,234 82,452 91,724 106,650 115,583 106,679 109,427 126,296 IMF charges 3,706 3,939 2,513 1,512 681 744 1,260 1,450 Short-term external debt 15,904 16,860 22,111 27,626 20,577 13,532 40,956 44,796 2. Other non-debt resource inflows Foreign direct investment 146,043 301,183 392,662 549,916 625,568 418,530 568,008 627,388 Portfolio equity 13,948 67,646 107,630 132,767 -53,601 114,178 120,226 -2,362 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 14.6 14.6 15.1 13.8 14.4 13.0 12.0 Japanese yen 12.2 10.0 9.5 8.7 10.4 9.5 10.1 9.8 Pound sterling 0.9 1.0 0.7 0.5 0.3 0.4 0.4 0.4 Swiss franc 0.4 0.5 0.6 0.6 0.5 0.5 0.4 0.4 U.S.dollars 62.5 65.4 66.3 66.3 66.7 67.0 66.8 67.5 4. Average terms of new commitments Official creditors Interest (%) 5.1 3.8 4.2 3.9 2.9 2.0 2.0 2.3 Maturity (years) 18.7 20.8 21.7 21.6 22.3 20.5 22.4 21.9 Grace period (years) 4.7 5.3 6.0 6.2 6.3 6.2 6.7 5.5 Private creditors Interest (%) 8.1 5.9 6.0 5.9 5.6 5.5 4.4 5.0 Maturity (years) 11.4 13.6 12.9 13.9 13.4 14.5 16.9 19.0 Grace period (years) 8.5 8.1 9.3 8.2 7.4 7.1 8.1 9.4 5. Major economic aggregates Gross national income (GNI) 5,482,664 9,177,232 10,931,087 13,591,887 16,286,556 15,844,824 19,034,476 22,221,880 Exports of goods, services & prim. income 1,624,742 3,134,591 3,834,318 4,675,882 5,661,018 4,528,547 5,673,051 6,909,606 Personal transfers & comp. of employees 73,647 170,566 201,465 244,446 280,409 263,664 292,315 328,050 Imports of goods, services & prim. income 1,661,498 3,071,896 3,655,665 4,508,759 5,535,348 4,532,450 5,774,165 7,064,934 Primary income on FDI 67,319 193,616 253,055 323,641 375,545 333,655 454,059 482,800 International reserves 601,808 1,901,699 2,521,619 3,579,875 4,024,228 4,641,782 5,342,254 5,832,746 6. Ratios External debt stocks to exports (%) 124.7 78.4 70.4 70.8 62.9 83.8 75.6 68.6 External debt stocks to GNI (%) 36.9 26.8 24.7 24.4 21.9 24.0 22.5 21.3 Debt service to exports (%) 20.5 13.7 13.0 10.7 9.4 11.4 10.1 8.9 Short-term to external debt stocks (%) 13.9 20.4 22.1 24.1 21.9 21.0 24.5 26.0 Multilateral to external debt stocks (%) 13.7 12.3 11.0 9.6 9.4 10.1 9.8 9.2 Reserves to external debt stocks (%) 29.7 77.4 93.4 108.1 113.0 122.3 124.6 123.0 Reserves to imports (months) 4.3 7.4 8.3 9.5 8.7 12.3 11.1 9.9 48 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 1,669,501 1,888,434 2,063,841 2,476,833 2,735,191 2,860,386 3,089,611 3,360,885 Public and publicly guaranteed 1,181,151 1,204,545 1,208,911 1,303,162 1,347,386 1,478,486 1,575,700 1,670,227 Official creditors 663,288 614,948 555,232 580,016 618,750 679,619 731,841 755,311 Multilateral 276,634 303,336 297,270 317,599 335,487 381,473 421,298 438,696 of which: IBRD 107,600 95,739 91,751 93,158 96,219 108,220 124,356 125,681 IDA 54,748 74,749 68,618 74,152 75,878 80,568 82,271 84,657 Bilateral 386,653 311,613 257,962 262,417 283,263 298,146 310,543 316,615 Private creditors 517,863 589,597 653,679 723,147 728,636 798,866 843,859 914,916 of which: Bonds 325,978 406,087 418,846 456,959 459,020 484,281 543,900 605,036 Commercial banks 125,334 124,243 164,337 192,605 185,653 196,237 197,626 192,921 Private nonguaranteed 488,350 683,889 854,930 1,173,671 1,387,805 1,381,900 1,513,911 1,690,658 of which: Bonds 89,492 136,425 169,586 209,347 177,106 199,588 255,395 281,045 Disbursements 224,706 372,608 474,046 644,016 624,272 501,508 646,271 705,875 Public and publicly guaranteed 133,599 150,031 160,660 189,746 167,038 213,378 276,881 234,996 Official creditors 48,947 41,031 49,387 54,170 62,344 92,754 100,946 80,902 Multilateral 31,300 29,751 35,784 38,931 42,475 66,516 67,113 53,317 of which: IBRD 12,950 9,179 11,932 10,496 13,605 22,701 26,246 17,320 IDA 3,238 4,455 4,361 4,461 3,917 5,907 4,987 6,015 Bilateral 17,647 11,280 13,604 15,238 19,869 26,238 33,833 27,585 Private creditors 84,652 109,000 111,273 135,576 104,694 120,623 175,935 154,094 of which: Bonds 55,640 64,447 60,279 74,358 63,995 70,846 103,490 96,441 Commercial banks 17,993 31,749 37,394 47,912 29,713 24,878 47,366 34,209 Private nonguaranteed 91,108 222,577 313,385 454,270 457,234 288,130 369,390 470,878 of which: Bonds 10,810 40,581 50,403 63,302 12,902 39,207 78,669 91,448 Principal repayments 200,802 281,928 348,764 356,206 394,311 393,664 415,968 438,622 Public and publicly guaranteed 102,808 144,100 188,628 135,791 146,203 125,552 137,822 140,796 Official creditors 46,071 68,350 95,203 51,114 47,783 44,661 47,171 57,299 Multilateral 21,899 25,532 35,258 24,994 25,622 24,272 24,613 33,103 of which: IBRD 9,312 12,124 17,182 10,697 10,919 10,858 9,160 15,244 IDA 678 1,245 1,372 1,443 1,706 1,765 1,835 3,305 Bilateral 24,171 42,817 59,945 26,119 22,162 20,389 22,558 24,197 Private creditors 56,737 75,750 93,425 84,677 98,420 80,890 90,651 83,497 of which: Bonds 22,293 44,639 59,137 50,220 54,530 31,859 34,577 36,917 Commercial banks 23,135 22,328 24,919 24,686 34,185 34,785 41,262 36,489 Private nonguaranteed 97,994 137,828 160,136 220,415 248,108 268,112 278,145 297,826 of which: Bonds 15,032 15,063 17,980 20,499 30,970 17,153 17,925 27,165 Interest payments 93,234 82,452 91,724 106,650 115,583 106,679 109,427 126,296 Public and publicly guaranteed 62,668 59,775 55,213 59,739 58,188 53,996 55,260 58,950 Official creditors 25,272 23,059 18,875 18,879 17,883 15,978 15,703 16,135 Multilateral 14,782 9,929 11,059 11,901 11,561 9,902 8,299 8,908 of which: IBRD 7,420 4,017 4,780 5,140 4,575 3,431 2,263 2,320 IDA 382 577 536 529 632 558 588 662 Bilateral 10,490 13,130 7,815 6,978 6,322 6,076 7,403 7,227 Private creditors 37,395 36,715 36,338 40,860 40,305 38,019 39,557 42,815 of which: Bonds 25,105 30,308 28,841 31,707 30,675 29,165 31,482 36,460 Commercial banks 8,641 4,872 5,979 6,388 6,465 5,867 4,139 4,402 Private nonguaranteed 30,567 22,678 36,511 46,911 57,395 52,683 54,167 67,346 of which: Bonds 7,776 7,994 12,488 13,461 11,346 11,788 14,099 19,524 750 Non-debt flows (bill US$) 150 Debt ratios (%) 500 100 250 50 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 Foreign direct investment Portfolio equity flows Debt to exports Reserves to debt 49 . Country Tables 51 AFGHANISTAN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks .. .. 969 2,013 2,134 2,470 2,423 2,623 Long-term external debt .. .. 911 1,893 1,985 2,097 1,966 2,023 Public and publicly guaranteed .. .. 911 1,893 1,985 2,097 1,966 2,023 Private nonguaranteed .. .. 0 0 0 0 0 0 Use of IMF credit 0 0 40 99 131 353 355 373 Short-term external debt .. .. 18 21 17 20 102 228 interest arrears on long-term .. .. 18 21 17 20 67 210 Memorandum items Principal arrears on long-term .. .. 87 89 56 54 54 54 Long-term public sector debt .. .. 910 1,893 1,985 2,097 1,966 2,023 Long-term private sector debt .. .. 0 0 0 0 0 0 Public & publicly guaranteed commitments .. .. 130 37 58 0 0 0 External debt flows Disbursements .. .. 146 202 132 126 85 81 Long-term external debt .. .. 146 147 96 109 76 62 IMF purchases 0 0 0 55 36 17 9 19 Principal repayments .. .. 3 1 1 3 1 1 Long-term external debt .. .. 3 1 1 3 1 1 IMF repurchases 0 0 0 0 0 0 0 0 Net flows .. .. 143 201 131 123 119 63 Long-term external debt .. .. 143 146 95 106 75 61 Short-term external debt .. .. 143 146 95 106 75 61 Interest payments .. .. 7 5 7 8 9 10 Long-term external debt .. .. 6 3 6 7 7 9 IMF charges 2 1 2 2 1 1 1 0 Short-term external debt .. .. 0 0 0 0 1 1 2. Other non-debt resource inflows Foreign direct investment .. .. 238 189 94 76 211 83 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. .. 0.0 0.0 0.0 0.0 0.0 0.0 Japanese yen .. .. 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. 2.8 1.4 0.0 0.0 0.0 0.0 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 71.9 81.9 82.6 79.9 75.3 73.7 4. Average terms of new commitments Official creditors Interest (%) .. .. 1.2 1.4 0.5 0.0 0.0 0.0 Maturity (years) .. .. 39.8 31.6 34.6 0.0 0.0 0.0 Grace period (years) .. .. 10.3 8.1 10.0 0.0 0.0 0.0 Private creditors .. .. Interest (%) .. .. 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 Grace period (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) .. .. 8,209 10,150 10,810 12,578 15,162 .. Exports of goods, services & prim. income .. .. .. .. .. .. .. .. Personal transfers & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & prim. income .. .. .. .. .. .. .. .. Primary income on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves .. .. .. .. 2,431 3,501 4,174 5,268 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) .. .. 11.8 19.8 19.7 19.6 16.0 .. Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) .. .. 1.9 1.0 0.8 0.8 4.2 8.7 Multilateral to external debt stocks (%) .. .. 67.4 40.7 42.3 41.2 41.9 40.9 Reserves to external debt stocks (%) .. .. .. .. 113.9 141.8 172.3 200.8 Reserves to imports (months) .. .. .. .. .. .. .. .. 52 AFGHANISTAN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed .. .. 911 1,893 1,985 2,097 1,966 2,023 Public and publicly guaranteed .. .. 911 1,893 1,985 2,097 1,966 2,023 Official creditors .. .. 910 1,893 1,985 2,097 1,966 2,023 Multilateral .. .. 654 819 904 1,017 1,016 1,073 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 294 343 399 438 466 406 413 Bilateral .. .. 257 1,074 1,081 1,080 950 950 Private creditors .. .. 0 0 0 0 0 0 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 Private nonguaranteed .. .. 0 0 0 0 0 0 of which: Bonds .. .. 0 0 0 0 0 0 Disbursements .. .. 146 147 96 109 76 62 Public and publicly guaranteed .. .. 146 147 96 109 76 62 Official creditors .. .. 146 147 96 109 76 62 Multilateral .. .. 107 140 96 109 76 62 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 84 39 44 44 27 8 8 Bilateral .. .. 40 7 1 0 0 0 Private creditors .. .. 0 0 0 0 0 0 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 Private nonguaranteed .. .. 0 0 0 0 0 0 of which: Bonds .. .. 0 0 0 0 0 0 Principal repayments .. .. 3 1 1 3 1 1 Public and publicly guaranteed .. .. 3 1 1 3 1 1 Official creditors .. .. 3 1 1 3 1 1 Multilateral .. .. 3 1 1 1 1 1 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 3 3 0 0 0 0 0 Bilateral .. .. 0 0 0 2 0 0 Private creditors .. .. 0 0 0 0 0 0 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 Private nonguaranteed .. .. 0 0 0 0 0 0 of which: Bonds .. .. 0 0 0 0 0 0 Interest payments .. .. 6 3 6 7 7 9 Public and publicly guaranteed .. .. 6 3 6 7 7 9 Official creditors .. .. 6 3 6 7 7 9 Multilateral .. .. 6 3 6 7 7 9 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 3 3 0 2 2 2 2 Bilateral .. .. 0 0 0 0 0 0 Private creditors .. .. 0 0 0 0 0 0 of which: Bonds .. .. 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 Private nonguaranteed .. .. 0 0 0 0 0 0 of which: Bonds .. .. 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks .. .. 232 1,044 121 336 -47 200 Net flows on external debt .. .. 143 201 131 123 119 63 9. Debt restructurings Total amount rescheduled .. .. 95 842 52 1 0 0 Total amount forgiven .. .. 0 21 52 4 204 1 Debt buyback .. .. 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 23 34 89 98 102 94 85 86 Interest 18 17 59 56 54 50 47 44 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreements signed in 2010 and MDRI and HIPC debt relief. 53 ALBANIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 1,123 2,101 2,466 2,899 3,940 4,661 4,877 5,938 Long-term external debt 937 1,788 1,917 2,225 2,858 3,682 4,175 4,930 Public and publicly guaranteed 921 1,375 1,579 1,790 2,220 2,799 3,140 3,198 Private nonguaranteed 16 413 339 435 638 884 1,035 1,732 Use of IMF credit 148 158 162 163 152 144 129 117 Short-term external debt 37 155 386 511 930 835 573 890 interest arrears on long-term 3 1 1 1 0 0 0 0 Memorandum items Principal arrears on long-term 271 16 16 17 1 0 0 0 Long-term public sector debt 920 1,375 1,579 1,790 2,220 2,799 3,140 3,198 Long-term private sector debt 17 413 339 435 638 884 1,035 1,732 Public & publicly guaranteed commitments 176 224 311 280 610 544 633 426 External debt flows Disbursements 138 501 188 299 794 730 859 757 Long-term external debt 119 489 180 291 786 726 859 757 IMF purchases 19 12 7 7 8 4 0 0 Principal repayments 16 50 153 89 90 126 224 257 Long-term external debt 9 41 142 74 74 112 212 245 IMF repurchases 7 9 11 14 15 14 12 12 Net flows 130 605 266 334 1,125 509 373 816 Long-term external debt 110 448 38 217 712 613 647 512 Short-term external debt 8 154 231 124 420 -95 -262 317 Interest payments 14 31 48 62 67 89 82 125 Long-term external debt 8 25 28 33 48 77 74 115 IMF charges 4 3 3 3 1 1 0 0 Short-term external debt 2 4 17 26 17 11 8 10 2. Other non-debt resource inflows Foreign direct investment 143 262 325 652 1,241 1,343 1,089 1,363 Portfolio equity .. .. .. .. 23 -4 7 2 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 28.4 31.4 35.4 47.4 55.0 59.5 58.9 Japanese yen 3.2 3.9 3.4 3.0 2.8 2.1 2.1 2.1 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 72.5 57.6 54.2 50.3 39.5 33.1 28.7 29.0 4. Average terms of new commitments Official creditors Interest (%) 3.5 2.0 3.4 4.3 1.8 3.0 3.7 1.3 Maturity (years) 30.1 19.5 20.2 20.7 28.3 19.3 16.6 17.3 Grace period (years) 10.7 6.7 6.6 5.3 8.3 5.8 4.1 3.1 Private creditors Interest (%) 1.4 0.0 0.3 5.3 6.2 11.0 7.0 0.0 Maturity (years) 24.4 0.0 29.9 11.2 15.4 3.3 5.8 8.7 Grace period (years) 13.4 0.0 18.8 1.7 6.0 3.0 4.8 4.2 5. Major economic aggregates Gross national income (GNI) 3,790 8,541 9,386 11,006 13,135 12,009 11,754 12,900 Exports of goods, services & prim. income 819 1,687 2,202 2,847 3,751 3,439 3,704 4,099 Personal transfers & comp. of employees 598 1,290 1,359 1,468 1,495 1,318 1,156 1,162 Imports of goods, services & prim. income 1,509 3,553 4,142 5,429 7,149 6,598 6,280 6,999 Primary income on FDI 0 2 5 9 301 448 381 114 Current account balance -156 -571 -671 -1,151 -2,018 -1,851 -1,353 -1,595 International reserves 616 1,404 1,769 2,104 2,320 2,314 2,470 2,394 6. Ratios External debt stocks to exports (%) 137.0 124.5 112.0 101.8 105.0 135.5 131.7 144.9 External debt stocks to GNI (%) 29.6 24.6 26.3 26.3 30.0 38.8 41.5 46.0 Debt service to exports (%) 3.7 4.8 9.2 5.3 4.2 6.3 8.3 9.3 Short-term to external debt stocks (%) 3.3 7.4 15.7 17.6 23.6 17.9 11.8 15.0 Multilateral to external debt stocks (%) 38.0 41.1 40.9 40.6 32.8 31.5 31.2 28.0 Reserves to external debt stocks (%) 54.8 66.8 71.7 72.6 58.9 49.6 50.6 40.3 Reserves to imports (months) 4.9 4.7 5.1 4.7 3.9 4.2 4.7 4.1 54 ALBANIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 937 1,788 1,917 2,225 2,858 3,682 4,175 4,930 Public and publicly guaranteed 921 1,375 1,579 1,790 2,220 2,799 3,140 3,198 Official creditors 895 1,343 1,545 1,758 1,869 2,124 2,152 2,286 Multilateral 426 864 1,009 1,176 1,292 1,466 1,520 1,661 of which: IBRD 0 0 0 6 17 24 26 51 IDA 346 655 729 803 817 849 850 859 Bilateral 469 478 535 583 577 657 632 625 Private creditors 26 32 34 32 351 675 988 912 of which: Bonds 0 0 0 0 0 0 401 388 Commercial banks 4 10 10 11 336 640 511 418 Private nonguaranteed 16 413 339 435 638 884 1,035 1,732 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 119 489 180 291 786 726 859 757 Public and publicly guaranteed 119 119 168 165 566 559 631 328 Official creditors 119 119 168 163 210 256 184 283 Multilateral 101 85 115 131 172 191 149 236 of which: IBRD 0 0 0 5 12 7 3 29 IDA 64 34 46 48 27 34 26 24 Bilateral 18 34 53 32 38 66 35 47 Private creditors 0 0 0 1 356 303 447 44 of which: Bonds 0 0 0 0 0 0 398 0 Commercial banks 0 0 0 0 345 284 6 9 Private nonguaranteed 0 370 12 127 220 167 228 429 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 9 41 142 74 74 112 212 245 Public and publicly guaranteed 9 40 57 55 58 80 174 204 Official creditors 8 38 53 51 56 78 87 112 Multilateral 2 18 23 26 27 40 46 68 of which: IBRD 0 0 0 0 0 0 0 2 IDA 0 4 5 6 7 9 11 12 Bilateral 6 21 30 25 29 39 41 44 Private creditors 1 1 4 5 1 2 88 92 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 1 1 1 1 88 92 Private nonguaranteed 0 1 85 19 17 32 38 41 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 8 25 28 33 48 77 74 115 Public and publicly guaranteed 7 23 25 31 44 69 65 106 Official creditors 7 23 25 31 35 35 31 37 Multilateral 4 14 14 18 24 24 22 28 of which: IBRD 0 0 0 0 1 1 0 1 IDA 2 5 6 6 6 6 6 7 Bilateral 3 9 11 13 11 11 9 9 Private creditors 0 0 0 0 9 34 34 69 of which: Bonds 0 0 0 0 0 0 0 31 Commercial banks 0 0 0 0 9 34 34 38 Private nonguaranteed 1 1 3 2 5 8 8 8 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 349 494 365 433 1,041 722 216 1,060 Net flows on external debt 130 605 266 334 1,125 509 373 816 9. Debt restructurings Total amount rescheduled 28 10 9 0 8 41 0 0 Total amount forgiven 0 0 2 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 133 151 169 197 186 191 194 181 Interest 43 47 47 46 43 39 35 31 Private creditors Principal 631 324 294 626 201 168 168 39 Interest 53 50 46 43 11 8 6 5 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates based on reports provided by the country. 55 ALGERIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 25,449 17,057 5,875 6,098 6,210 7,368 7,211 6,072 Long-term external debt 23,342 16,357 5,140 5,145 4,708 3,998 3,588 3,091 Public and publicly guaranteed 23,342 15,491 3,836 3,996 3,265 3,016 2,620 2,213 Private nonguaranteed 0 866 1,304 1,148 1,444 982 968 878 Use of IMF credit 1,886 184 194 203 198 1,878 1,845 1,840 Short-term external debt 222 516 541 750 1,304 1,492 1,778 1,142 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 0 0 0 0 0 0 0 0 Long-term public sector debt 23,220 15,317 3,776 3,774 3,069 2,828 2,471 2,086 Long-term private sector debt 122 1,040 1,364 1,371 1,640 1,170 1,117 1,005 Public & publicly guaranteed commitments 1,419 470 220 154 26 5 0 0 External debt flows Disbursements 1,215 1,239 816 623 673 208 40 29 Long-term external debt 1,215 1,239 816 623 673 208 40 29 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 2,813 5,057 12,788 1,134 1,056 907 554 531 Long-term external debt 2,721 4,446 12,788 1,134 1,056 907 554 531 IMF repurchases 93 612 0 0 0 0 0 0 Net flows -1,572 -3,733 -11,947 -302 171 -510 -228 -1,139 Long-term external debt -1,506 -3,207 -11,972 -511 -383 -699 -514 -502 Short-term external debt 27 85 25 209 554 189 286 -637 Interest payments 1,662 927 634 231 193 145 118 103 Long-term external debt 1,552 888 610 202 160 122 94 79 IMF charges 100 24 9 7 2 4 6 2 Short-term external debt 10 15 15 22 31 18 18 21 2. Other non-debt resource inflows Foreign direct investment 280 1,156 1,841 1,834 2,675 3,053 2,331 2,721 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 40.5 58.9 60.1 59.6 60.6 58.3 59.3 Japanese yen 14.5 8.2 6.2 4.7 5.1 4.3 4.7 0.9 Pound sterling 1.0 1.4 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.5 0.8 0.1 0.1 0.0 0.0 0.0 0.0 U.S.dollars 44.7 40.9 29.4 28.8 29.5 29.3 30.5 32.9 4. Average terms of new commitments Official creditors Interest (%) 6.2 3.1 0.6 1.2 0.0 2.0 0.0 0.0 Maturity (years) 15.0 13.8 18.4 16.4 0.0 21.8 0.0 0.0 Grace period (years) 4.1 3.9 3.9 7.2 0.0 6.7 0.0 0.0 Private creditors Interest (%) 6.2 0.8 3.5 3.1 3.8 0.0 0.0 0.0 Maturity (years) 7.4 11.2 12.0 6.9 4.8 0.0 0.0 0.0 Grace period (years) 1.9 4.0 3.1 2.7 4.8 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 52,080 97,259 112,669 134,004 169,689 139,577 155,538 181,167 Exports of goods, services & prim. income .. 50,268 59,721 67,230 87,212 52,915 65,253 80,960 Personal transfers & comp. of employees 790 170 189 98 104 150 196 203 Imports of goods, services & prim. income .. 31,155 32,409 38,818 55,546 55,146 55,757 63,918 Primary income on FDI .. 5,485 6,295 5,405 6,206 5,892 4,855 6,313 Current account balance .. 21,180 28,923 30,631 34,440 401 12,146 19,688 International reserves 12,024 56,303 77,914 110,318 143,243 149,041 162,614 182,822 6. Ratios External debt stocks to exports (%) .. 33.9 9.8 9.1 7.1 13.9 11.1 7.5 External debt stocks to GNI (%) 48.9 17.5 5.2 4.6 3.7 5.3 4.6 3.4 Debt service to exports (%) .. 11.9 22.5 2.0 1.4 2.0 1.0 0.8 Short-term to external debt stocks (%) 0.9 3.0 9.2 12.3 21.0 20.3 24.7 18.8 Multilateral to external debt stocks (%) 16.2 14.3 2.5 2.2 0.2 0.2 0.1 0.1 Reserves to external debt stocks (%) 47.2 330.1 1,326.3 1,809.2 2,306.5 2,022.7 2,255.1 3,010.9 Reserves to imports (months) .. 21.7 28.8 34.1 30.9 32.4 35.0 34.3 56 ALGERIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 23,342 16,357 5,140 5,145 4,708 3,998 3,588 3,091 Public and publicly guaranteed 23,342 15,491 3,836 3,996 3,265 3,016 2,620 2,213 Official creditors 17,490 12,464 2,131 2,303 2,091 2,055 1,854 1,610 Multilateral 4,123 2,443 144 136 13 11 10 8 of which: IBRD 1,425 779 119 113 11 10 9 8 IDA 0 0 0 0 0 0 0 0 Bilateral 13,367 10,022 1,987 2,168 2,078 2,043 1,844 1,602 Private creditors 5,851 3,027 1,706 1,693 1,174 961 766 603 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 2,508 1,038 59 76 87 83 69 59 Private nonguaranteed 0 866 1,304 1,148 1,444 982 968 878 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,215 1,239 816 623 673 208 40 29 Public and publicly guaranteed 1,215 776 365 319 266 85 39 29 Official creditors 795 445 223 146 195 83 37 25 Multilateral 349 358 54 6 5 0 0 0 of which: IBRD 58 31 16 6 5 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 446 87 170 140 190 83 37 25 Private creditors 420 331 141 173 71 2 1 4 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 8 37 20 29 1 1 2 Private nonguaranteed 0 463 451 304 407 123 2 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 2,721 4,446 12,788 1,134 1,056 907 554 531 Public and publicly guaranteed 2,721 4,217 12,637 603 912 385 321 410 Official creditors 1,055 3,012 10,972 211 368 152 164 249 Multilateral 351 1,190 2,396 16 127 1 2 1 of which: IBRD 172 156 677 12 107 1 1 1 IDA 0 0 0 0 0 0 0 0 Bilateral 704 1,821 8,576 195 241 151 162 248 Private creditors 1,666 1,205 1,664 391 544 233 157 161 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 439 348 1,029 11 13 8 9 10 Private nonguaranteed 0 229 151 532 144 522 234 121 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 1,552 888 610 202 160 122 94 79 Public and publicly guaranteed 1,552 863 557 145 113 74 63 57 Official creditors 1,131 718 442 61 49 33 34 31 Multilateral 297 163 118 7 12 1 1 0 of which: IBRD 128 46 21 6 12 1 1 0 IDA 0 0 0 0 0 0 0 0 Bilateral 834 555 324 53 37 32 33 30 Private creditors 421 145 115 84 63 41 29 26 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 146 34 30 3 2 3 2 2 Private nonguaranteed 0 25 53 57 48 49 31 22 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -2,734 -5,330 -11,182 223 113 1,158 -157 -1,139 Net flows on external debt -1,572 -3,733 -11,947 -302 171 -510 -228 -1,139 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 306 227 214 181 168 153 94 97 Interest 35 31 27 23 20 17 14 12 Private creditors Principal 383 276 226 162 140 106 73 44 Interest 56 42 30 22 16 10 5 3 57 ANGOLA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 9,763 12,224 9,890 11,932 15,502 17,014 19,004 21,115 Long-term external debt 8,085 9,518 7,348 9,231 12,690 13,635 15,466 17,518 Public and publicly guaranteed 8,085 9,518 7,348 9,231 12,690 13,635 15,466 17,518 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 356 390 411 431 421 787 1,302 1,606 Short-term external debt 1,323 2,316 2,132 2,270 2,391 2,593 2,236 1,992 interest arrears on long-term 874 577 161 89 70 85 68 62 Memorandum items Principal arrears on long-term 2,853 1,877 700 327 254 306 274 261 Long-term public sector debt 8,059 9,506 7,341 9,229 12,689 13,634 15,466 17,517 Long-term private sector debt 26 12 7 2 1 0 0 0 Public & publicly guaranteed commitments 1,033 14,150 2,036 4,378 4,188 5,705 5,464 10,983 External debt flows Disbursements 1,045 3,676 1,223 5,647 4,622 3,896 4,475 5,098 Long-term external debt 1,045 3,676 1,223 5,647 4,622 3,543 3,951 4,781 IMF purchases 0 0 0 0 0 353 524 316 Principal repayments 1,530 2,289 3,508 3,779 1,130 3,131 2,110 2,672 Long-term external debt 1,530 2,289 3,508 3,779 1,130 3,131 2,110 2,672 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -733 2,603 -2,054 2,079 3,632 952 2,025 2,188 Long-term external debt -485 1,387 -2,286 1,869 3,492 412 1,841 2,110 Short-term external debt -248 1,216 232 210 140 187 -340 -238 Interest payments 191 326 920 711 502 424 214 202 Long-term external debt 149 257 820 579 443 392 176 154 IMF charges 16 12 16 14 4 1 7 15 Short-term external debt 26 57 83 118 55 30 30 32 2. Other non-debt resource inflows Foreign direct investment 879 -1,304 -38 -893 1,679 2,205 -3,227 .. Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 8.2 6.2 6.4 7.6 9.7 8.6 8.4 Japanese yen 0.5 0.3 0.0 0.0 0.0 0.0 0.0 0.1 Pound sterling 1.0 0.9 0.2 0.2 0.1 0.1 0.1 0.1 Swiss franc 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 86.3 87.8 90.4 91.0 90.5 88.5 89.8 90.1 4. Average terms of new commitments Official creditors Interest (%) 0.8 6.5 1.1 0.4 0.6 3.4 3.8 8.7 Maturity (years) 39.8 13.8 10.9 12.1 43.4 8.7 9.2 15.5 Grace period (years) 10.3 2.0 1.5 2.7 10.4 1.7 0.9 2.2 Private creditors Interest (%) 5.0 6.6 8.0 6.3 4.5 6.5 4.6 4.6 Maturity (years) 3.1 7.7 9.0 6.8 7.4 5.3 9.7 9.9 Grace period (years) 1.3 1.3 0.8 1.0 0.8 1.2 2.1 0.3 5. Major economic aggregates Gross national income (GNI) 7,449 24,203 35,612 52,850 70,460 68,669 74,299 90,046 Exports of goods, services & prim. income 8,222 24,312 33,492 45,329 64,666 41,582 51,586 67,666 Personal transfers & comp. of employees .. .. .. .. 82 .. 18 .. Imports of goods, services & prim. income 7,454 19,201 22,612 34,526 57,261 48,784 43,727 55,883 Primary income on FDI 929 3,406 5,278 7,268 13,185 6,130 7,526 .. Current account balance 796 5,138 10,690 10,581 7,194 -7,572 7,421 11,306 International reserves 1,198 3,197 8,599 11,197 17,869 13,664 19,749 28,786 6. Ratios External debt stocks to exports (%) 118.7 50.3 29.5 26.3 24.0 40.9 36.8 31.2 External debt stocks to GNI (%) 131.1 50.5 27.8 22.6 22.0 24.8 25.6 23.4 Debt service to exports (%) 20.9 10.8 13.2 9.9 2.5 8.5 4.5 4.2 Short-term to external debt stocks (%) 13.5 18.9 21.6 19.0 15.4 15.2 11.8 9.4 Multilateral to external debt stocks (%) 3.0 3.0 4.1 3.6 2.8 2.6 2.3 2.1 Reserves to external debt stocks (%) 12.3 26.2 86.9 93.8 115.3 80.3 103.9 136.3 Reserves to imports (months) 1.9 2.0 4.6 3.9 3.7 3.4 5.4 6.2 58 ANGOLA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 8,085 9,518 7,348 9,231 12,690 13,635 15,466 17,518 Public and publicly guaranteed 8,085 9,518 7,348 9,231 12,690 13,635 15,466 17,518 Official creditors 2,703 3,174 2,588 3,210 4,008 4,822 8,161 9,659 Multilateral 294 371 402 424 429 448 445 454 of which: IBRD 0 0 0 0 0 0 0 0 IDA 226 319 347 365 369 385 378 384 Bilateral 2,409 2,803 2,186 2,786 3,580 4,373 7,716 9,205 Private creditors 5,382 6,344 4,760 6,021 8,682 8,813 7,305 7,858 of which: Bonds 0 0 0 0 0 0 0 10 Commercial banks 2,625 5,062 3,928 5,248 7,790 7,939 6,241 6,733 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1,045 3,676 1,223 5,647 4,622 3,543 3,951 4,781 Public and publicly guaranteed 1,045 3,676 1,223 5,647 4,622 3,543 3,951 4,781 Official creditors 34 321 506 952 1,101 1,111 3,658 2,303 Multilateral 24 34 21 10 16 23 13 21 of which: IBRD 0 0 0 0 0 0 0 0 IDA 24 30 18 8 12 19 6 15 Bilateral 10 287 485 942 1,084 1,088 3,646 2,283 Private creditors 1,011 3,355 717 4,695 3,521 2,432 293 2,478 of which: Bonds 0 0 0 0 0 0 0 10 Commercial banks 1,010 3,236 573 4,562 3,276 2,292 24 2,324 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 1,530 2,289 3,508 3,779 1,130 3,131 2,110 2,672 Public and publicly guaranteed 1,530 2,289 3,508 3,779 1,130 3,131 2,110 2,672 Official creditors 268 505 1,201 352 276 310 283 797 Multilateral 27 8 9 7 8 8 10 10 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 5 5 5 6 6 7 7 Bilateral 241 497 1,192 345 267 302 273 787 Private creditors 1,262 1,784 2,307 3,427 854 2,821 1,827 1,874 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1,149 1,654 1,713 3,253 715 2,663 1,784 1,809 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 149 257 820 579 443 392 176 154 Public and publicly guaranteed 149 257 820 579 443 392 176 154 Official creditors 36 61 360 162 118 143 114 79 Multilateral 28 4 3 3 4 4 5 5 of which: IBRD 0 0 0 0 0 0 0 0 IDA 2 3 3 2 3 3 4 4 Bilateral 8 57 357 159 115 139 109 74 Private creditors 113 195 460 416 325 250 63 75 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 93 160 330 352 260 218 53 66 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 -910 2,438 -2,333 2,041 3,570 1,513 1,990 2,111 Net flows on external debt -733 2,603 -2,054 2,079 3,632 952 2,025 2,188 9. Debt restructurings Total amount rescheduled 0 0 2 21 67 0 0 0 Total amount forgiven 0 122 400 72 25 18 18 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 1,950 1,960 2,321 2,289 2,285 2,090 1,445 425 Interest 375 643 752 737 676 599 513 450 Private creditors Principal 3,017 2,022 1,459 756 457 452 394 350 Interest 275 215 167 125 95 69 44 26 Notes: Short-term debt is based on data from the BIS. 59 ARGENTINA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 147,029 127,452 118,411 120,418 121,894 126,687 111,768 114,704 Long-term external debt 113,234 82,640 89,628 100,643 101,421 103,676 94,766 94,935 Public and publicly guaranteed 87,324 56,279 62,818 70,614 71,123 75,953 69,253 68,285 Private nonguaranteed 25,909 26,361 26,811 30,028 30,298 27,723 25,514 26,650 Use of IMF credit 5,470 9,968 479 503 490 3,167 3,111 3,101 Short-term external debt 28,325 34,844 28,304 19,272 19,983 19,844 13,891 16,668 interest arrears on long-term 10 7,738 7,457 9,462 10,009 10,774 5,464 6,115 Memorandum items Principal arrears on long-term 0 11,225 12,165 16,227 18,515 19,712 9,225 13,639 Long-term public sector debt 87,218 56,191 62,648 70,444 70,966 75,820 69,144 68,184 Long-term private sector debt 26,015 26,448 26,980 30,199 30,455 27,857 25,623 26,751 Public & publicly guaranteed commitments 11,986 2,462 5,747 8,013 4,969 3,450 1,263 3,411 External debt flows Disbursements 20,889 4,727 8,806 9,572 7,036 7,547 6,893 10,768 Long-term external debt 18,794 4,727 8,806 9,572 7,036 7,547 6,893 10,768 IMF purchases 2,094 0 0 0 0 0 0 0 Principal repayments 12,968 7,021 14,833 5,192 4,651 11,225 10,693 11,968 Long-term external debt 11,689 3,450 5,039 5,192 4,651 11,225 10,693 11,968 IMF repurchases 1,280 3,571 9,793 0 0 0 0 0 Net flows 6,820 14,812 -12,285 -6,657 2,548 -4,581 -4,444 926 Long-term external debt 7,106 1,277 3,767 4,380 2,384 -3,677 -3,801 -1,200 Short-term external debt -1,100 17,106 -6,259 -11,037 164 -904 -643 2,126 Interest payments 11,782 3,022 4,045 3,524 3,193 3,477 3,644 3,555 Long-term external debt 9,837 2,154 3,006 2,948 2,947 3,356 3,524 3,388 IMF charges 213 524 102 17 4 7 10 3 Short-term external debt 1,732 344 937 559 242 113 110 164 2. Other non-debt resource inflows Foreign direct investment 10,418 5,265 5,537 6,473 9,726 4,017 7,055 7,080 Portfolio equity -3,227 -48 707 1,785 -531 -212 -208 -174 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 35.4 35.5 37.7 35.7 34.7 29.2 28.5 Japanese yen 5.8 2.6 2.4 2.2 2.8 2.5 3.0 3.2 Pound sterling 0.5 0.1 0.1 0.1 0.1 0.1 0.0 0.0 Swiss franc 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 U.S.dollars 57.1 54.7 56.1 54.5 56.8 58.2 63.9 65.5 4. Average terms of new commitments Official creditors Interest (%) 7.2 4.2 5.5 6.1 3.3 1.8 1.3 1.1 Maturity (years) 18.2 17.3 20.3 18.9 18.4 26.3 24.6 24.1 Grace period (years) 4.8 4.6 5.0 4.8 3.6 3.9 4.0 5.4 Private creditors Interest (%) 10.0 5.0 5.7 7.1 6.8 4.6 3.4 0.0 Maturity (years) 11.6 8.4 11.1 12.6 12.8 17.8 13.0 0.0 Grace period (years) 11.6 3.7 6.0 10.6 11.3 10.9 4.0 0.0 5. Major economic aggregates Gross national income (GNI) 276,656 176,985 208,884 255,510 319,508 297,639 358,595 435,335 Exports of goods, services & prim. income 38,697 51,204 60,116 72,794 87,609 69,991 83,774 101,412 Personal transfers & comp. of employees 86 432 541 606 698 621 637 686 Imports of goods, services & prim. income 48,076 46,414 52,809 65,793 81,023 61,706 80,546 100,955 Primary income on FDI 3,086 5,456 7,112 7,283 7,902 8,360 8,530 8,951 Current account balance -8,981 5,274 7,767 7,354 6,756 8,338 2,830 -6 International reserves 25,147 27,179 30,903 44,682 44,855 46,093 49,734 43,227 6. Ratios External debt stocks to exports (%) 380.0 248.9 197.0 165.4 139.1 181.0 133.4 113.1 External debt stocks to GNI (%) 53.1 72.0 56.7 47.1 38.2 42.6 31.2 26.3 Debt service to exports (%) 64.0 19.6 36.4 12.0 9.0 21.0 17.1 15.3 Short-term to external debt stocks (%) 19.3 27.3 23.9 16.0 16.4 15.7 12.4 14.5 Multilateral to external debt stocks (%) 11.2 12.3 12.8 12.5 12.2 12.8 15.2 15.6 Reserves to external debt stocks (%) 17.1 21.3 26.1 37.1 36.8 36.4 44.5 37.7 Reserves to imports (months) 6.3 7.0 7.0 8.1 6.6 9.0 7.4 5.1 60 ARGENTINA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 113,234 82,640 89,628 100,643 101,421 103,676 94,766 94,935 Public and publicly guaranteed 87,324 56,279 62,818 70,614 71,123 75,953 69,253 68,285 Official creditors 20,822 20,564 20,399 20,681 20,785 22,539 23,109 23,750 Multilateral 16,499 15,699 15,104 15,046 14,903 16,267 17,016 17,931 of which: IBRD 8,789 6,881 6,206 5,674 5,069 5,305 5,349 5,555 IDA 0 0 0 0 0 0 0 0 Bilateral 4,323 4,864 5,295 5,635 5,882 6,272 6,093 5,819 Private creditors 66,503 35,715 42,419 49,934 50,339 53,414 46,144 44,535 of which: Bonds 65,976 35,207 41,867 48,937 49,375 51,561 44,773 43,485 Commercial banks 294 171 201 211 205 1,137 713 446 Private nonguaranteed 25,909 26,361 26,811 30,028 30,298 27,723 25,514 26,650 of which: Bonds 11,138 8,772 10,138 12,073 7,921 6,850 7,855 9,129 Disbursements 18,794 4,727 8,806 9,572 7,036 7,547 6,893 10,768 Public and publicly guaranteed 14,312 3,219 3,910 6,131 4,046 3,602 2,592 2,605 Official creditors 1,971 993 1,668 2,383 2,020 3,499 2,455 2,582 Multilateral 1,945 989 1,664 2,373 1,998 3,070 2,437 2,577 of which: IBRD 1,019 362 459 505 332 1,028 787 841 IDA 0 0 0 0 0 0 0 0 Bilateral 26 4 4 10 22 429 18 4 Private creditors 12,341 2,227 2,242 3,747 2,026 103 137 23 of which: Bonds 12,339 2,227 2,242 3,747 2,026 103 90 0 Commercial banks 2 0 0 0 0 0 25 12 Private nonguaranteed 4,482 1,507 4,896 3,441 2,990 3,946 4,300 8,163 of which: Bonds 1,408 540 2,896 2,241 0 476 2,037 1,320 Principal repayments 11,689 3,450 5,039 5,192 4,651 11,225 10,693 11,968 Public and publicly guaranteed 6,185 1,684 2,553 3,251 2,383 5,511 5,038 5,257 Official creditors 1,871 1,501 2,376 2,697 2,380 1,796 1,923 1,908 Multilateral 852 1,472 2,365 2,587 2,266 1,650 1,652 1,611 of which: IBRD 538 928 1,134 1,037 936 793 741 630 IDA 0 0 0 0 0 0 0 0 Bilateral 1,019 28 11 110 114 146 271 297 Private creditors 4,314 183 177 554 3 3,715 3,115 3,349 of which: Bonds 4,097 182 175 554 3 1,232 2,828 3,016 Commercial banks 162 0 1 0 0 2,428 233 279 Private nonguaranteed 5,503 1,766 2,487 1,941 2,268 5,714 5,655 6,712 of which: Bonds 2,309 680 1,303 606 2,009 450 969 26 Interest payments 9,837 2,154 3,006 2,948 2,947 3,356 3,524 3,388 Public and publicly guaranteed 7,797 1,438 1,356 1,665 1,741 2,022 2,436 2,449 Official creditors 1,600 756 847 874 768 661 614 571 Multilateral 1,265 751 843 869 723 585 553 521 of which: IBRD 701 288 346 350 258 169 147 138 IDA 0 0 0 0 0 0 0 0 Bilateral 335 5 4 4 45 76 61 51 Private creditors 6,196 682 509 792 973 1,361 1,821 1,878 of which: Bonds 6,055 682 508 792 973 1,238 1,764 1,833 Commercial banks 121 0 0 0 0 87 28 21 Private nonguaranteed 2,041 716 1,650 1,282 1,206 1,335 1,089 938 of which: Bonds 1,109 585 1,135 759 710 562 567 717 8. Debt stock-flow reconciliation Total change in external debt stocks -2,985 -37,464 -9,041 2,007 1,476 4,792 -14,919 2,936 Net flows on external debt 6,820 14,812 -12,285 -6,657 2,548 -4,581 -4,444 926 9. Debt restructurings Total amount rescheduled 0 20,136 2,096 983 0 0 8,107 16 Total amount forgiven 1,505 40,333 3 0 0 10 9,348 227 Debt buyback 2,745 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 2,447 2,029 2,030 2,024 1,903 1,694 1,631 1,377 Interest 478 438 396 350 304 265 231 199 Private creditors Principal 5,371 3,903 2,257 4,913 2,860 8,106 2,125 1,074 Interest 4,183 3,848 3,506 3,277 2,824 2,411 1,914 1,644 Notes: Long-term private nonguaranteed debt data from 2009 are reported by the country. Historical data are World Bank staff estimates. Long-term provincial debt data are World Bank staff estimates. 61 ARMENIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 1,010 1,968 2,136 3,037 3,541 5,023 6,241 7,383 Long-term external debt 675 1,368 1,533 2,281 2,818 3,778 4,744 5,551 Public and publicly guaranteed 675 923 1,037 1,282 1,446 2,376 2,557 2,736 Private nonguaranteed 0 446 496 999 1,373 1,401 2,187 2,815 Use of IMF credit 290 302 296 297 270 725 876 963 Short-term external debt 44 298 307 459 453 521 621 869 interest arrears on long-term 6 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 4 0 0 0 0 0 0 0 Long-term public sector debt 675 923 1,037 1,282 1,446 2,376 2,557 2,736 Long-term private sector debt 0 446 496 999 1,373 1,401 2,187 2,815 Public & publicly guaranteed commitments 74 251 65 203 201 898 248 368 External debt flows Disbursements 63 177 175 761 783 1,713 1,919 1,603 Long-term external debt 63 168 165 751 776 1,247 1,734 1,488 IMF purchases 0 10 10 10 7 466 184 114 Principal repayments 31 104 80 82 280 323 879 758 Long-term external debt 15 69 49 58 253 300 857 735 IMF repurchases 16 34 31 24 27 23 22 23 Net flows 21 -38 104 831 497 1,458 1,139 1,094 Long-term external debt 48 98 116 693 523 947 877 753 Short-term external debt -11 -112 9 152 -6 68 99 249 Interest payments 20 39 75 111 87 100 90 168 Long-term external debt 9 23 59 91 70 79 60 126 IMF charges 8 5 6 5 2 4 9 13 Short-term external debt 2 11 11 15 15 17 21 29 2. Other non-debt resource inflows Foreign direct investment 104 239 453 699 935 777 570 525 Portfolio equity 0 1 -1 0 -1 1 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 8.0 8.8 9.0 8.7 6.3 5.8 7.8 Japanese yen 0.0 0.2 0.4 7.0 12.1 11.3 14.6 14.5 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 93.3 86.3 82.6 71.2 62.9 66.0 62.8 60.8 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.8 0.8 1.5 1.2 2.9 1.9 0.9 Maturity (years) 35.7 39.6 32.2 24.4 32.1 19.7 20.6 24.3 Grace period (years) 10.2 10.1 10.3 8.7 8.8 5.9 5.8 5.9 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 14.4 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 3.9 0.0 5. Major economic aggregates Gross national income (GNI) 1,964 5,033 6,600 9,485 12,133 8,815 9,710 10,803 Exports of goods, services & prim. income 551 1,873 2,134 2,587 2,751 2,053 2,896 3,639 Personal transfers & comp. of employees 87 487 650 837 1,053 763 991 1,994 Imports of goods, services & prim. income 1,017 2,448 2,945 4,121 5,271 4,236 4,833 5,495 Primary income on FDI 22 170 244 332 279 332 364 375 Current account balance -278 -52 -117 -590 -1,383 -1,369 -1,373 -1,134 International reserves 302 669 1,072 1,659 1,407 2,004 1,866 1,932 6. Ratios External debt stocks to exports (%) 183.4 105.1 100.1 117.4 128.7 244.7 215.5 202.9 External debt stocks to GNI (%) 51.4 39.1 32.4 32.0 29.2 57.0 64.3 68.3 Debt service to exports (%) 9.2 7.6 7.3 7.5 13.3 20.6 33.4 25.4 Short-term to external debt stocks (%) 4.4 15.1 14.4 15.1 12.8 10.4 9.9 11.8 Multilateral to external debt stocks (%) 48.0 41.1 42.3 34.3 31.4 28.4 24.2 22.3 Reserves to external debt stocks (%) 29.9 34.0 50.2 54.6 39.7 39.9 29.9 26.2 Reserves to imports (months) 3.6 3.3 4.4 4.8 3.2 5.7 4.6 4.2 62 ARMENIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 675 1,368 1,533 2,281 2,818 3,778 4,744 5,551 Public and publicly guaranteed 675 923 1,037 1,282 1,446 2,376 2,557 2,736 Official creditors 658 921 1,036 1,281 1,444 2,375 2,556 2,733 Multilateral 485 808 905 1,041 1,111 1,427 1,513 1,647 of which: IBRD 8 6 6 5 5 53 106 151 IDA 388 746 841 965 1,025 1,161 1,161 1,187 Bilateral 173 113 131 240 333 948 1,042 1,086 Private creditors 17 1 1 1 1 1 1 4 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 5 0 0 0 0 0 0 2 Private nonguaranteed 0 446 496 999 1,373 1,401 2,187 2,815 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 63 168 165 751 776 1,247 1,734 1,488 Public and publicly guaranteed 63 50 83 207 164 941 198 206 Official creditors 62 50 83 207 164 941 198 204 Multilateral 58 37 72 110 92 324 127 165 of which: IBRD 0 0 0 0 0 49 53 46 IDA 54 34 64 93 80 142 36 49 Bilateral 4 14 11 97 72 617 71 39 Private creditors 1 0 0 0 0 0 0 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 2 Private nonguaranteed 0 117 82 544 612 306 1,536 1,282 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 15 69 49 58 253 300 857 735 Public and publicly guaranteed 15 16 17 17 15 21 24 28 Official creditors 13 16 17 17 15 21 24 28 Multilateral 8 14 15 15 13 15 18 21 of which: IBRD 0 1 1 1 1 1 1 1 IDA 0 3 6 7 11 14 15 18 Bilateral 5 2 2 2 2 6 6 7 Private creditors 2 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 53 32 42 238 279 833 707 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 9 23 59 91 70 79 60 126 Public and publicly guaranteed 9 9 9 10 11 23 35 38 Official creditors 9 9 9 10 11 23 35 38 Multilateral 8 8 8 8 9 9 12 14 of which: IBRD 0 0 0 0 0 0 1 1 IDA 3 6 6 7 8 8 8 9 Bilateral 1 2 2 2 2 14 23 24 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 14 49 81 58 56 25 88 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -13 -138 168 901 504 1,482 1,217 1,143 Net flows on external debt 21 -38 104 831 497 1,458 1,139 1,094 9. Debt restructurings Total amount rescheduled 14 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 32 83 100 122 132 147 156 171 Interest 43 43 44 43 42 40 38 35 Private creditors Principal 764 538 481 284 227 170 142 114 Interest 123 91 63 46 32 22 14 7 Notes: Long-term private nonguaranteed debt data for 2011 are World Bank staff estimates. 63 AZERBAIJAN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 1,585 2,160 2,722 3,763 4,498 4,771 7,209 8,427 Long-term external debt 893 1,591 1,837 2,374 3,013 3,658 6,049 7,272 Public and publicly guaranteed 794 1,404 1,733 2,231 2,686 3,345 3,891 4,655 Private nonguaranteed 99 187 104 143 327 314 2,158 2,616 Use of IMF credit 536 383 365 346 316 303 282 265 Short-term external debt 156 186 520 1,043 1,169 810 878 891 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 0 0 0 0 0 0 0 0 Long-term public sector debt 794 1,404 1,733 2,231 2,686 3,345 3,891 4,655 Long-term private sector debt 99 187 104 143 327 314 2,158 2,616 Public & publicly guaranteed commitments 202 1,387 412 723 1,928 1,627 823 175 External debt flows Disbursements 306 449 468 490 741 870 2,780 2,110 Long-term external debt 306 430 468 490 741 870 2,780 2,110 IMF purchases 0 19 0 0 0 0 0 0 Principal repayments 74 200 206 90 174 264 315 901 Long-term external debt 22 152 169 53 152 246 300 883 IMF repurchases 51 48 37 37 22 19 15 17 Net flows 360 297 596 923 694 247 2,532 1,222 Long-term external debt 284 279 299 437 589 624 2,479 1,226 Short-term external debt 127 48 334 523 126 -359 68 13 Interest payments 65 42 65 105 124 84 96 972 Long-term external debt 37 26 39 78 88 64 75 953 IMF charges 23 9 11 9 3 1 1 0 Short-term external debt 5 6 15 18 33 19 20 19 2. Other non-debt resource inflows Foreign direct investment 130 4,476 4,486 4,360 3,987 2,900 3,353 4,485 Portfolio equity 0 0 1 2 0 0 1 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 13.6 19.6 22.3 21.1 27.0 28.9 29.2 Japanese yen 19.3 26.6 20.9 17.1 17.6 12.7 13.8 16.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 12.1 3.3 2.3 1.7 1.4 1.0 0.6 0.2 U.S.dollars 61.1 51.9 50.9 51.0 51.5 51.3 49.4 48.2 4. Average terms of new commitments Official creditors Interest (%) 4.3 2.3 4.3 4.9 2.7 1.4 1.5 1.0 Maturity (years) 22.6 28.8 24.7 20.1 21.5 25.2 17.6 19.3 Grace period (years) 4.7 7.7 8.0 4.2 4.8 6.6 4.7 2.6 Private creditors Interest (%) 8.2 3.5 6.0 6.6 4.8 4.5 3.0 0.0 Maturity (years) 11.4 13.3 12.0 9.8 13.0 14.0 10.0 0.0 Grace period (years) 1.1 3.0 0.5 1.3 5.0 3.5 2.5 0.0 5. Major economic aggregates Gross national income (GNI) 4,987 11,599 18,302 27,970 43,586 40,772 49,437 56,402 Exports of goods, services & prim. income 2,174 8,341 13,994 22,683 32,484 23,311 28,910 38,058 Personal transfers & comp. of employees 57 623 790 1,268 1,518 1,255 1,410 1,893 Imports of goods, services & prim. income 2,415 8,658 10,853 14,669 17,082 13,858 14,379 21,586 Primary income on FDI 317 1,582 2,624 4,995 5,401 3,664 3,815 5,488 Current account balance -168 167 3,708 9,019 16,453 10,175 15,040 17,145 International reserves 680 1,178 2,500 4,273 6,467 5,364 6,409 10,274 6. Ratios External debt stocks to exports (%) 72.9 25.9 19.5 16.6 13.8 20.5 24.9 22.1 External debt stocks to GNI (%) 31.8 18.6 14.9 13.5 10.3 11.7 14.6 14.9 Debt service to exports (%) 6.4 2.9 1.9 0.9 0.9 1.5 1.4 4.9 Short-term to external debt stocks (%) 9.9 8.6 19.1 27.7 26.0 17.0 12.2 10.6 Multilateral to external debt stocks (%) 20.4 29.1 27.0 25.6 25.3 30.6 24.2 25.5 Reserves to external debt stocks (%) 42.9 54.5 91.9 113.6 143.8 112.4 88.9 121.9 Reserves to imports (months) 3.4 1.6 2.8 3.5 4.5 4.6 5.3 5.7 64 AZERBAIJAN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 893 1,591 1,837 2,374 3,013 3,658 6,049 7,272 Public and publicly guaranteed 794 1,404 1,733 2,231 2,686 3,345 3,891 4,655 Official creditors 656 1,129 1,276 1,538 1,857 2,177 2,664 3,365 Multilateral 323 630 734 962 1,138 1,460 1,744 2,152 of which: IBRD 0 0 5 21 78 199 300 469 IDA 216 501 583 660 698 739 763 806 Bilateral 333 500 542 576 719 717 920 1,213 Private creditors 138 274 457 693 829 1,168 1,226 1,290 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 113 274 403 552 634 949 1,023 1,078 Private nonguaranteed 99 187 104 143 327 314 2,158 2,616 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 306 430 468 490 741 870 2,780 2,110 Public and publicly guaranteed 301 306 443 443 526 820 866 1,047 Official creditors 213 70 266 233 283 431 559 816 Multilateral 56 57 211 219 213 367 353 477 of which: IBRD 0 0 5 16 56 122 101 168 IDA 27 48 60 58 50 45 46 58 Bilateral 157 13 55 14 70 64 206 339 Private creditors 88 236 177 210 242 389 307 231 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 84 236 121 119 167 346 296 204 Private nonguaranteed 6 124 25 47 216 50 1,914 1,063 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 22 152 169 53 152 246 300 883 Public and publicly guaranteed 15 55 53 43 129 193 228 275 Official creditors 13 38 34 26 49 115 101 136 Multilateral 9 18 17 21 29 54 42 57 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 2 4 6 8 9 10 12 Bilateral 4 21 17 5 20 61 58 79 Private creditors 2 16 19 16 80 78 128 139 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 16 17 13 59 59 101 121 Private nonguaranteed 7 97 116 11 23 53 72 609 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 37 26 39 78 88 64 75 953 Public and publicly guaranteed 32 19 32 71 77 52 62 82 Official creditors 31 16 18 34 29 31 27 43 Multilateral 7 9 11 26 21 22 19 32 of which: IBRD 0 0 1 1 3 5 4 3 IDA 2 4 4 5 5 5 6 6 Bilateral 24 7 7 8 8 9 9 11 Private creditors 1 4 14 37 48 21 35 39 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 4 13 24 35 15 32 36 Private nonguaranteed 5 7 7 7 11 12 13 871 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 296 76 562 1,041 735 273 2,438 1,218 Net flows on external debt 360 297 596 923 694 247 2,532 1,222 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 200 250 300 314 355 359 363 375 Interest 54 57 64 63 62 58 54 48 Private creditors Principal 816 822 576 492 414 359 302 300 Interest 894 870 848 831 816 804 793 784 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates based on the market data. 65 BANGLADESH (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 15,596 18,449 20,106 21,373 22,952 24,619 25,752 27,043 Long-term external debt 14,985 17,385 18,380 19,428 20,300 21,210 21,400 22,350 Public and publicly guaranteed 14,985 17,385 18,380 19,428 20,300 21,210 21,400 22,350 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 277 376 547 575 758 1,475 1,403 1,271 Short-term external debt 334 688 1,178 1,370 1,894 1,934 2,949 3,422 interest arrears on long-term 0 16 0 4 1 1 2 2 Memorandum items Principal arrears on long-term 4 1 3 53 11 7 22 22 Long-term public sector debt 14,985 17,385 18,380 19,428 20,300 21,210 21,400 22,350 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 588 1,106 1,322 2,011 2,779 1,818 2,203 4,610 External debt flows Disbursements 861 976 1,213 1,080 1,939 1,499 982 1,469 Long-term external debt 861 878 1,063 1,080 1,732 1,499 982 1,469 IMF purchases 0 97 150 0 206 0 0 0 Principal repayments 572 566 482 735 640 727 789 1,181 Long-term external debt 487 566 482 735 632 703 743 1,050 IMF repurchases 86 0 0 0 8 23 46 131 Net flows 368 370 1,237 532 1,826 812 1,207 761 Long-term external debt 374 312 581 344 1,100 796 238 419 Short-term external debt 80 -40 506 188 527 40 1,014 473 Interest payments 197 235 231 257 249 229 238 312 Long-term external debt 165 197 167 180 203 197 201 258 IMF charges 10 3 5 5 8 8 5 4 Short-term external debt 22 35 59 72 39 24 32 50 2. Other non-debt resource inflows Foreign direct investment 280 813 697 653 1,010 733 918 798 Portfolio equity 1 20 31 153 -48 -153 .. -10 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 0.7 0.8 0.9 0.7 0.7 0.6 0.5 Japanese yen 20.3 14.2 12.5 10.4 10.0 9.0 9.8 9.6 Pound sterling 3.0 2.1 1.9 1.7 1.5 1.4 1.2 1.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 44.3 50.7 52.3 51.9 52.4 53.4 52.6 50.5 4. Average terms of new commitments Official creditors Interest (%) 2.4 1.5 2.0 2.1 1.2 2.0 0.8 0.9 Maturity (years) 28.4 35.2 33.6 32.3 37.5 25.6 34.5 34.7 Grace period (years) 7.4 9.2 8.7 8.2 9.5 7.4 8.9 3.6 Private creditors Interest (%) 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 12.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 48,857 63,355 65,952 73,523 86,607 97,485 109,695 119,788 Exports of goods, services & prim. income 7,293 10,537 12,922 14,150 17,594 17,097 21,767 27,334 Personal transfers & comp. of employees 1,968 4,315 5,428 6,562 8,941 10,521 10,850 12,068 Imports of goods, services & prim. income 10,018 15,487 17,659 20,581 26,286 24,521 31,037 39,397 Primary income on FDI 149 661 765 903 840 1,105 1,210 1,226 Current account balance -306 -176 1,196 857 926 3,556 2,109 244 International reserves 1,486 2,767 3,806 5,183 5,689 10,219 10,564 8,510 6. Ratios External debt stocks to exports (%) 213.9 175.1 155.6 151.0 130.5 144.0 118.3 98.9 External debt stocks to GNI (%) 31.9 29.1 30.5 29.1 26.5 25.3 23.5 22.6 Debt service to exports (%) 10.5 7.6 5.5 7.0 5.1 5.6 4.7 5.5 Short-term to external debt stocks (%) 2.1 3.7 5.9 6.4 8.3 7.9 11.5 12.7 Multilateral to external debt stocks (%) 70.5 76.1 74.3 76.3 75.4 74.6 71.7 69.1 Reserves to external debt stocks (%) 9.5 15.0 18.9 24.3 24.8 41.5 41.0 31.5 Reserves to imports (months) 1.8 2.1 2.6 3.0 2.6 5.0 4.1 2.6 66 BANGLADESH (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 14,985 17,385 18,380 19,428 20,300 21,210 21,400 22,350 Public and publicly guaranteed 14,985 17,385 18,380 19,428 20,300 21,210 21,400 22,350 Official creditors 14,809 17,201 18,217 19,280 20,202 21,126 21,328 22,285 Multilateral 10,998 14,044 14,947 16,315 17,296 18,376 18,460 18,690 of which: IBRD 24 0 0 0 0 0 0 0 IDA 6,431 8,688 9,297 10,077 10,613 10,746 10,653 10,712 Bilateral 3,810 3,157 3,270 2,965 2,907 2,749 2,868 3,594 Private creditors 176 184 163 148 98 84 71 66 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 15 32 30 26 18 15 10 5 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 861 878 1,063 1,080 1,732 1,499 982 1,469 Public and publicly guaranteed 861 878 1,063 1,080 1,732 1,499 982 1,469 Official creditors 794 878 1,063 1,080 1,706 1,499 971 1,458 Multilateral 650 814 742 1,008 1,451 1,430 850 837 of which: IBRD 0 0 0 0 0 0 0 0 IDA 357 547 398 602 820 297 326 355 Bilateral 145 64 321 71 255 69 122 621 Private creditors 67 0 0 0 27 0 10 11 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 15 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 487 566 482 735 632 703 743 1,050 Public and publicly guaranteed 487 566 482 735 632 703 743 1,050 Official creditors 465 551 459 719 612 690 725 1,031 Multilateral 168 290 328 383 434 477 498 552 of which: IBRD 5 0 0 0 0 0 0 0 IDA 82 153 172 193 213 234 243 262 Bilateral 297 260 131 335 178 214 227 478 Private creditors 22 16 24 17 20 13 19 19 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 5 5 5 5 3 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 165 197 167 180 203 197 201 258 Public and publicly guaranteed 165 197 167 180 203 197 201 258 Official creditors 156 195 166 178 199 195 198 256 Multilateral 93 133 137 144 161 157 160 178 of which: IBRD 2 0 0 0 0 0 0 0 IDA 47 70 70 72 77 79 78 84 Bilateral 63 62 29 34 38 38 37 77 Private creditors 9 2 2 2 3 2 3 3 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 1 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 8. Debt stock-flow reconciliation Total change in external debt stocks -849 -1,210 1,657 1,267 1,580 1,666 1,133 1,292 Net flows on external debt 368 370 1,237 532 1,826 812 1,207 761 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 83 158 533 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 1,077 1,378 1,393 1,201 1,191 1,157 1,240 1,255 Interest 276 275 266 255 248 242 239 231 Private creditors Principal 17 10 10 10 10 2 2 2 Interest 2 2 1 1 1 0 0 0 Notes: Short-term debt is based on data from the BIS. 67 BELARUS (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 2,620 5,300 5,834 10,943 12,854 17,935 25,627 29,120 Long-term external debt 787 1,270 1,625 3,482 5,327 6,462 9,684 11,624 Public and publicly guaranteed 689 786 842 2,338 3,719 4,823 7,697 9,152 Private nonguaranteed 98 485 784 1,145 1,608 1,639 1,988 2,472 Use of IMF credit 594 527 555 583 568 3,449 4,063 4,050 Short-term external debt 1,239 3,503 3,654 6,878 6,959 8,024 11,879 13,445 interest arrears on long-term 14 1 4 2 2 3 4 4 Memorandum items Principal arrears on long-term 29 37 22 10 4 19 6 12 Long-term public sector debt 689 777 837 2,336 3,719 4,823 7,697 9,097 Long-term private sector debt 98 493 788 1,146 1,608 1,639 1,988 2,527 Public & publicly guaranteed commitments 136 412 174 1,639 1,961 1,492 4,316 6,597 External debt flows Disbursements 249 648 735 2,552 2,709 4,810 5,275 3,165 Long-term external debt 249 648 735 2,552 2,709 1,985 4,606 3,165 IMF purchases 0 0 0 0 0 2,825 668 0 Principal repayments 261 519 482 757 858 983 965 1,228 Long-term external debt 206 511 482 757 858 983 965 1,228 IMF repurchases 56 9 0 0 0 0 0 0 Net flows -89 695 400 5,020 1,932 4,891 8,163 3,503 Long-term external debt 43 138 252 1,795 1,851 1,002 3,641 1,937 Short-term external debt -76 566 148 3,225 82 1,064 3,854 1,566 Interest payments 128 181 270 343 356 320 504 885 Long-term external debt 39 54 70 82 234 178 235 575 IMF charges 29 17 22 19 5 14 68 87 Short-term external debt 61 111 178 241 117 128 201 223 2. Other non-debt resource inflows Foreign direct investment 119 307 357 1,807 2,188 1,877 1,393 4,002 Portfolio equity 1 1 -1 5 1 1 1 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 14.4 26.0 9.9 4.1 7.7 16.1 13.1 Japanese yen 2.2 1.1 0.7 0.1 0.0 0.0 0.2 0.4 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 48.9 71.8 61.1 85.5 93.3 89.4 69.9 74.9 4. Average terms of new commitments Official creditors Interest (%) 6.8 5.0 5.9 4.6 6.1 4.1 6.0 2.3 Maturity (years) 5.9 7.6 16.9 14.9 12.1 13.4 7.6 7.6 Grace period (years) 2.4 1.4 5.4 5.4 4.2 4.7 3.3 2.5 Private creditors Interest (%) 7.2 8.9 7.2 4.8 0.0 3.2 8.8 5.2 Maturity (years) 2.5 1.1 2.4 3.0 0.0 9.0 5.1 9.8 Grace period (years) 1.0 1.1 1.3 1.0 0.0 2.3 5.1 4.7 5. Major economic aggregates Gross national income (GNI) 12,690 30,220 36,841 44,865 59,976 48,157 54,058 53,381 Exports of goods, services & prim. income 7,667 17,705 21,816 27,149 36,878 24,818 29,805 47,312 Personal transfers & comp. of employees 139 199 266 285 578 499 527 814 Imports of goods, services & prim. income 8,160 17,411 23,408 30,331 42,007 31,224 38,402 49,822 Primary income on FDI 5 135 236 435 682 872 1,039 1,186 Current account balance -338 459 -1,388 -3,012 -4,959 -6,133 -8,280 -5,121 International reserves 350 1,137 1,069 3,952 2,687 4,831 3,431 6,011 6. Ratios External debt stocks to exports (%) 34.2 29.9 26.7 40.3 34.9 72.3 86.0 61.5 External debt stocks to GNI (%) 20.6 17.5 15.8 24.4 21.4 37.2 47.4 54.6 Debt service to exports (%) 5.1 4.0 3.4 4.1 3.3 5.3 4.9 4.5 Short-term to external debt stocks (%) 47.3 66.1 62.6 62.9 54.1 44.7 46.4 46.2 Multilateral to external debt stocks (%) 8.3 1.5 1.1 0.5 0.4 1.5 1.2 1.4 Reserves to external debt stocks (%) 13.4 21.4 18.3 36.1 20.9 26.9 13.4 20.6 Reserves to imports (months) 0.5 0.8 0.5 1.6 0.8 1.9 1.1 1.4 68 BELARUS (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 787 1,270 1,625 3,482 5,327 6,462 9,684 11,624 Public and publicly guaranteed 689 786 842 2,338 3,719 4,823 7,697 9,152 Official creditors 400 566 571 2,076 3,547 4,694 5,729 6,142 Multilateral 217 81 65 52 50 261 295 403 of which: IBRD 105 59 50 42 42 256 291 318 IDA 0 0 0 0 0 0 0 0 Bilateral 183 485 506 2,023 3,497 4,433 5,434 5,739 Private creditors 289 219 271 262 172 128 1,968 3,010 of which: Bonds 0 0 0 0 0 0 1,802 2,576 Commercial banks 56 57 102 107 68 46 110 394 Private nonguaranteed 98 485 784 1,145 1,608 1,639 1,988 2,472 of which: Bonds 0 0 0 19 19 19 19 19 Disbursements 249 648 735 2,552 2,709 1,985 4,606 3,165 Public and publicly guaranteed 143 254 207 1,717 1,568 1,265 3,475 1,686 Official creditors 25 188 74 1,596 1,563 1,254 1,580 586 Multilateral 25 7 5 7 16 216 37 114 of which: IBRD 6 7 5 7 16 216 37 30 IDA 0 0 0 0 0 0 0 0 Bilateral 0 181 69 1,589 1,547 1,038 1,543 472 Private creditors 118 66 133 121 5 11 1,895 1,100 of which: Bonds 0 0 0 0 0 0 1,796 800 Commercial banks 48 34 83 96 0 10 99 300 Private nonguaranteed 106 395 527 835 1,141 720 1,132 1,479 of which: Bonds 0 0 0 19 0 0 0 0 Principal repayments 206 511 482 757 858 983 965 1,228 Public and publicly guaranteed 134 177 171 253 183 158 163 199 Official creditors 52 94 73 98 97 99 110 170 Multilateral 49 42 23 21 19 5 3 6 of which: IBRD 14 16 15 16 17 3 1 4 IDA 0 0 0 0 0 0 0 0 Bilateral 4 52 50 77 78 95 107 163 Private creditors 82 83 98 155 86 59 53 30 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 28 12 42 101 35 33 32 14 Private nonguaranteed 71 333 311 505 675 825 802 1,029 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 39 54 70 82 234 178 235 575 Public and publicly guaranteed 38 39 45 49 176 105 154 463 Official creditors 18 17 28 30 159 97 114 285 Multilateral 17 5 4 4 3 2 2 6 of which: IBRD 6 3 3 3 2 2 2 3 IDA 0 0 0 0 0 0 0 0 Bilateral 2 12 24 26 156 94 112 280 Private creditors 19 22 16 19 17 8 40 177 of which: Bonds 0 0 0 0 0 0 37 163 Commercial banks 4 4 6 8 8 4 2 13 Private nonguaranteed 1 15 25 33 59 73 81 113 of which: Bonds 0 0 0 1 2 2 1 1 8. Debt stock-flow reconciliation Total change in external debt stocks -83 699 534 5,108 1,911 5,082 7,691 3,493 Net flows on external debt -89 695 400 5,020 1,932 4,891 8,163 3,503 9. Debt restructurings Total amount rescheduled 50 0 0 0 0 0 0 0 Total amount forgiven 0 0 0 0 0 15 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 2,224 471 616 610 599 609 586 508 Interest 337 176 158 135 111 92 73 56 Private creditors Principal 739 585 535 2,203 350 311 1,097 272 Interest 364 356 338 247 152 138 88 39 69 BELIZE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 630 1,022 1,053 1,074 1,275 1,295 1,307 1,278 Long-term external debt 557 989 1,018 1,039 1,240 1,250 1,266 1,236 Public and publicly guaranteed 557 989 1,018 1,039 1,020 1,041 1,022 1,018 Private nonguaranteed 0 0 0 0 219 209 243 218 Use of IMF credit 23 26 27 28 28 35 35 35 Short-term external debt 50 7 8 7 7 10 7 8 interest arrears on long-term 0 7 8 7 7 10 7 8 Memorandum items Principal arrears on long-term 0 2 0 1 1 1 1 1 Long-term public sector debt 557 989 1,018 1,038 1,020 1,036 1,018 1,015 Long-term private sector debt 0 0 1 1 219 214 248 221 Public & publicly guaranteed commitments 224 199 106 581 28 90 71 63 External debt flows Disbursements 218 213 100 604 109 92 39 55 Long-term external debt 218 213 100 604 109 84 39 55 IMF purchases 0 0 0 0 0 7 0 0 Principal repayments 41 155 73 585 87 69 69 73 Long-term external debt 41 155 73 585 87 69 69 73 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 176 57 28 19 22 22 -30 -18 Long-term external debt 177 57 28 19 22 15 -30 -18 Short-term external debt -1 0 0 0 0 0 0 0 Interest payments 36 74 65 65 60 57 58 59 Long-term external debt 32 73 64 64 60 56 58 59 IMF charges 1 1 1 1 0 0 0 0 Short-term external debt 3 0 0 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 23 127 109 140 170 109 96 91 Portfolio equity .. .. 4 .. 2 .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 1.6 1.7 1.6 1.1 1.5 1.3 1.1 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 1.8 0.4 0.4 0.2 0.1 0.1 0.1 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 92.6 96.5 96.6 96.8 97.5 97.3 97.5 97.5 4. Average terms of new commitments Official creditors Interest (%) 6.3 0.0 2.9 5.1 3.8 1.9 2.0 3.1 Maturity (years) 21.1 28.4 10.5 21.6 18.9 22.2 22.5 21.7 Grace period (years) 5.3 1.0 2.4 5.4 4.3 4.6 5.3 5.1 Private creditors Interest (%) 9.5 4.7 0.0 4.2 4.3 0.0 0.0 0.0 Maturity (years) 8.1 7.1 0.0 22.0 22.0 0.0 0.0 0.0 Grace period (years) 3.0 1.6 0.0 12.5 12.5 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 775 1,000 1,088 1,118 1,198 1,241 1,243 1,331 Exports of goods, services & prim. income 441 622 786 823 872 733 834 952 Personal transfers & comp. of employees 26 45 64 73 76 79 78 76 Imports of goods, services & prim. income 661 824 885 969 1,129 895 972 1,067 Primary income on FDI 31 35 52 87 107 56 102 60 Current account balance -162 -151 -25 -52 -145 -83 -46 -31 International reserves 123 71 114 109 166 214 218 237 6. Ratios External debt stocks to exports (%) 142.7 164.4 134.0 130.5 146.1 176.8 156.7 134.3 External debt stocks to GNI (%) 81.2 102.1 96.8 96.1 106.4 104.4 105.2 96.0 Debt service to exports (%) 17.5 36.8 17.6 78.9 16.9 17.2 15.3 13.9 Short-term to external debt stocks (%) 7.9 0.7 0.7 0.7 0.6 0.7 0.5 0.6 Multilateral to external debt stocks (%) 22.1 22.0 21.6 22.6 18.1 19.7 19.7 20.6 Reserves to external debt stocks (%) 19.5 7.0 10.8 10.1 13.0 16.5 16.7 18.5 Reserves to imports (months) 2.2 1.0 1.5 1.3 1.8 2.9 2.7 2.7 70 BELIZE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 557 989 1,018 1,039 1,240 1,250 1,266 1,236 Public and publicly guaranteed 557 989 1,018 1,039 1,020 1,041 1,022 1,018 Official creditors 228 348 415 391 386 417 407 410 Multilateral 139 225 228 243 230 255 257 263 of which: IBRD 40 35 30 25 21 16 12 10 IDA 0 0 0 0 0 0 0 0 Bilateral 89 124 188 148 156 162 149 147 Private creditors 328 641 603 648 635 624 616 608 of which: Bonds 75 482 466 24 22 21 21 21 Commercial banks 245 149 129 619 610 603 595 587 Private nonguaranteed 0 0 0 0 219 209 243 218 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 218 213 100 604 109 84 39 55 Public and publicly guaranteed 218 213 100 604 41 72 32 37 Official creditors 27 48 97 63 40 70 32 37 Multilateral 22 14 17 36 16 41 22 24 of which: IBRD 2 1 0 0 0 0 0 1 IDA 0 0 0 0 0 0 0 0 Bilateral 4 34 80 26 24 30 10 13 Private creditors 192 165 3 541 2 1 0 0 of which: Bonds 86 143 0 0 0 0 0 0 Commercial banks 96 12 3 541 2 1 0 0 Private nonguaranteed 0 0 0 0 68 13 7 18 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 41 155 73 585 87 69 69 73 Public and publicly guaranteed 41 155 73 585 52 51 49 41 Official creditors 20 21 31 88 38 39 41 33 Multilateral 9 14 16 22 22 17 18 18 of which: IBRD 4 4 5 5 5 4 4 3 IDA 0 0 0 0 0 0 0 0 Bilateral 11 6 15 66 16 23 23 15 Private creditors 22 135 42 497 15 12 8 8 of which: Bonds 11 36 16 441 2 1 0 0 Commercial banks 9 98 22 52 10 8 8 8 Private nonguaranteed 0 0 0 0 35 18 20 32 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 32 73 64 64 60 56 58 59 Public and publicly guaranteed 32 73 64 64 49 45 47 48 Official creditors 12 15 17 19 17 15 13 10 Multilateral 7 10 10 11 10 8 8 6 of which: IBRD 3 2 2 2 1 1 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 4 5 7 8 7 7 5 3 Private creditors 20 58 47 45 31 30 34 38 of which: Bonds 1 41 36 23 2 2 2 2 Commercial banks 18 16 10 21 29 28 32 37 Private nonguaranteed 0 0 0 0 12 11 11 11 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 213 57 31 21 200 20 12 -29 Net flows on external debt 176 57 28 19 22 22 -30 -18 9. Debt restructurings Total amount rescheduled 0 0 0 0 7 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 33 34 36 36 43 37 35 34 Interest 12 13 12 12 11 10 9 8 Private creditors Principal 87 49 45 29 22 17 14 36 Interest 37 32 30 28 26 25 24 24 Notes: Long-term private nonguaranteed debt data are revised from 2008 based on reports provided by the country. 71 BENIN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 1,400 1,551 647 771 924 1,147 1,288 1,423 Long-term external debt 1,238 1,444 589 747 849 972 1,110 1,190 Public and publicly guaranteed 1,238 1,444 589 747 849 972 1,110 1,190 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 96 66 17 19 37 132 146 177 Short-term external debt 66 41 41 5 37 44 32 55 interest arrears on long-term 1 2 2 5 4 32 25 29 Memorandum items Principal arrears on long-term 2 6 8 9 13 36 43 57 Long-term public sector debt 1,238 1,444 589 747 849 972 1,110 1,190 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 140 239 91 228 147 232 284 186 External debt flows Disbursements 48 98 154 160 162 155 202 145 Long-term external debt 39 97 153 159 143 139 186 112 IMF purchases 9 1 1 1 19 16 16 34 Principal repayments 53 31 27 18 17 24 30 26 Long-term external debt 43 24 27 18 17 24 30 26 IMF repurchases 11 7 0 0 0 0 0 0 Net flows -54 82 128 103 178 110 168 138 Long-term external debt -4 73 126 140 127 115 157 86 Short-term external debt -48 15 0 -39 33 -21 -5 19 Interest payments 22 16 14 12 42 12 13 12 Long-term external debt 16 14 12 10 41 12 13 12 IMF charges 1 1 1 1 0 0 0 0 Short-term external debt 4 2 2 1 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 60 -9 -12 139 48 -19 53 118 Portfolio equity 0 2 0 5 -2 9 5 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 4.4 5.0 3.9 3.2 5.4 10.0 9.5 Japanese yen 2.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.3 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 54.7 50.6 27.3 28.0 24.5 21.9 20.4 19.4 4. Average terms of new commitments Official creditors Interest (%) 1.9 1.5 1.2 1.5 1.5 1.3 1.0 1.5 Maturity (years) 32.7 31.1 32.6 32.5 30.1 36.8 31.5 29.7 Grace period (years) 8.3 8.6 8.3 8.4 8.0 8.9 9.4 5.6 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) 2,243 4,259 4,623 5,428 6,672 6,618 6,576 7,313 Exports of goods, services & prim. income 552 797 976 1,386 1,675 1,489 1,707 .. Personal transfers & comp. of employees 87 147 195 240 207 126 139 151 Imports of goods, services & prim. income 744 1,188 1,452 2,188 2,456 2,310 2,393 .. Primary income on FDI -1 9 15 53 30 32 55 0 Current account balance -81 -226 -217 -534 -536 -649 -530 .. International reserves 459 655 912 1,209 1,263 1,230 1,200 887 6. Ratios External debt stocks to exports (%) 253.7 194.6 66.3 55.7 55.1 77.1 75.4 .. External debt stocks to GNI (%) 62.4 36.4 14.0 14.2 13.8 17.3 19.6 19.5 Debt service to exports (%) 13.6 6.0 4.2 2.2 3.5 2.5 2.5 .. Short-term to external debt stocks (%) 4.7 2.6 6.3 0.6 4.1 3.8 2.5 3.8 Multilateral to external debt stocks (%) 69.2 87.4 71.5 77.3 74.9 69.9 72.0 69.6 Reserves to external debt stocks (%) 32.8 42.2 141.0 156.8 136.8 107.2 93.2 62.4 Reserves to imports (months) 7.4 6.6 7.5 6.6 6.2 6.4 6.0 .. 72 BENIN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 1,238 1,444 589 747 849 972 1,110 1,190 Public and publicly guaranteed 1,238 1,444 589 747 849 972 1,110 1,190 Official creditors 1,235 1,444 589 747 849 972 1,110 1,190 Multilateral 969 1,356 463 597 692 802 927 990 of which: IBRD 0 0 0 0 0 0 0 0 IDA 578 771 126 176 255 309 383 402 Bilateral 266 88 127 151 157 170 183 200 Private creditors 3 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 Disbursements 39 97 153 159 143 139 186 112 Public and publicly guaranteed 39 97 153 159 143 139 186 112 Official creditors 39 97 153 159 143 139 186 112 Multilateral 27 92 85 138 138 117 166 95 of which: IBRD 0 0 0 0 0 0 0 0 IDA 36 49 32 43 84 51 79 22 Bilateral 12 4 68 21 5 22 21 17 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 43 24 27 18 17 24 30 26 Public and publicly guaranteed 43 24 27 18 17 24 30 26 Official creditors 43 20 27 18 17 24 30 26 Multilateral 14 20 21 17 14 17 21 23 of which: IBRD 0 0 0 0 0 0 0 0 IDA 4 6 3 0 0 0 0 0 Bilateral 28 1 6 2 3 8 8 3 Private creditors 0 4 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 16 14 12 10 41 12 13 12 Public and publicly guaranteed 16 14 12 10 41 12 13 12 Official creditors 16 14 12 10 41 12 13 12 Multilateral 11 13 12 10 24 10 11 11 of which: IBRD 0 0 0 0 0 0 0 0 IDA 4 6 4 1 2 2 2 3 Bilateral 5 1 1 1 17 2 2 1 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -88 -61 -904 124 152 223 141 135 Net flows on external debt -54 82 128 103 178 110 168 138 9. Debt restructurings Total amount rescheduled 53 0 0 0 0 0 0 0 Total amount forgiven 7 15 1,076 0 6 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 55 62 62 65 63 65 65 65 Interest 16 17 18 18 17 17 16 15 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement and HIPC and MDRI debt relief. 73 BHUTAN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 212 658 722 803 695 761 907 1,035 Long-term external debt 202 637 697 775 678 747 892 1,021 Public and publicly guaranteed 202 637 697 775 678 747 892 1,021 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 8 9 9 9 9 9 9 9 Short-term external debt 2 12 16 18 8 5 6 5 interest arrears on long-term 0 4 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 0 4 0 0 0 0 0 0 Long-term public sector debt 202 637 697 775 678 747 892 1,021 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 85 60 25 556 0 176 1,045 63 External debt flows Disbursements 35 82 45 32 32 92 178 267 Long-term external debt 35 82 45 32 32 92 178 267 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 5 5 6 24 43 41 47 47 Long-term external debt 5 5 6 24 43 41 47 47 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 30 85 47 10 -22 48 132 219 Long-term external debt 30 77 39 8 -12 51 131 220 Short-term external debt 0 8 8 2 -10 -3 1 -1 Interest payments 2 2 5 8 38 34 38 38 Long-term external debt 2 2 3 7 38 34 37 38 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 0 0 1 1 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment .. .. 6 74 3 7 19 16 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 9.6 10.9 11.1 11.6 11.5 10.1 8.9 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 3.3 3.6 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 17.7 18.2 19.2 19.0 22.9 24.0 22.3 23.4 4. Average terms of new commitments Official creditors Interest (%) 3.6 0.8 1.4 9.2 0.8 4.3 9.8 0.5 Maturity (years) 32.1 28.6 32.0 19.9 38.9 24.7 22.4 31.2 Grace period (years) 10.5 7.1 8.5 7.7 9.4 6.1 8.0 9.6 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) 419 713 911 1,093 1,073 1,144 1,420 1,594 Exports of goods, services & prim. income .. .. 382 656 686 591 625 761 Personal transfers & comp. of employees .. .. 2 3 4 5 8 10 Imports of goods, services & prim. income .. .. 565 608 832 737 1,006 1,399 Primary income on FDI .. .. 0 1 3 -1 4 4 Current account balance .. .. -79 143 -28 -20 -142 -355 International reserves 318 467 545 699 765 891 1,002 790 6. Ratios External debt stocks to exports (%) .. .. 189.3 122.4 101.2 128.7 145.2 136.1 External debt stocks to GNI (%) 50.5 92.3 79.3 73.4 64.7 66.5 63.9 65.0 Debt service to exports (%) .. .. 2.8 4.9 11.9 12.8 13.5 11.1 Short-term to external debt stocks (%) 0.7 1.9 2.2 2.2 1.2 0.7 0.7 0.5 Multilateral to external debt stocks (%) 47.6 26.9 27.1 27.9 34.3 37.6 36.5 37.2 Reserves to external debt stocks (%) 150.1 71.1 75.5 87.1 110.1 117.0 110.4 76.3 Reserves to imports (months) .. .. 11.6 13.8 11.0 14.5 12.0 6.8 74 BHUTAN (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 202 637 697 775 678 747 892 1,021 Public and publicly guaranteed 202 637 697 775 678 747 892 1,021 Official creditors 202 637 697 775 678 747 892 1,021 Multilateral 101 177 196 224 238 286 332 385 of which: IBRD 0 0 0 0 0 0 0 0 IDA 26 63 76 87 94 114 112 138 Bilateral 102 460 502 551 439 461 561 636 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 Disbursements 35 82 45 32 32 92 178 267 Public and publicly guaranteed 35 82 45 32 32 92 178 267 Official creditors 35 82 45 32 32 92 178 267 Multilateral 12 22 15 21 15 51 50 60 of which: IBRD 0 0 0 0 0 0 0 0 IDA 4 8 10 9 9 20 2 29 Bilateral 23 60 30 10 17 41 128 207 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 5 5 6 24 43 41 47 47 Public and publicly guaranteed 5 5 6 24 43 41 47 47 Official creditors 5 5 6 24 43 41 47 47 Multilateral 1 2 2 3 4 5 6 7 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 1 1 1 1 1 2 2 Bilateral 3 2 3 21 40 36 40 40 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 2 2 3 7 38 34 37 38 Public and publicly guaranteed 2 2 3 7 38 34 37 38 Official creditors 2 2 3 7 38 34 37 38 Multilateral 1 2 2 2 2 2 3 4 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 1 1 1 1 1 1 1 Bilateral 1 0 2 5 36 32 34 34 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 20 55 65 80 -108 67 146 128 Net flows on external debt 30 85 47 10 -22 48 132 219 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 68 73 76 112 86 76 107 120 Interest 29 24 19 53 45 66 103 113 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Short-term debt is based on data from the BIS. 75 BOLIVIA, PLURINATIONAL STATE OF (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 5,885 6,961 5,851 5,421 5,936 6,021 6,050 6,474 Long-term external debt 5,228 6,497 5,576 4,823 5,377 5,196 5,170 5,587 Public and publicly guaranteed 4,201 4,583 3,189 2,202 2,409 2,549 2,812 3,414 Private nonguaranteed 1,026 1,914 2,388 2,621 2,969 2,647 2,358 2,173 Use of IMF credit 255 282 55 42 41 257 253 252 Short-term external debt 402 182 220 555 518 568 628 635 interest arrears on long-term 2 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 19 0 0 0 0 0 0 0 Long-term public sector debt 3,824 4,560 3,171 2,192 2,399 2,539 2,801 3,404 Long-term private sector debt 1,403 1,937 2,406 2,631 2,978 2,656 2,368 2,183 Public & publicly guaranteed commitments 180 551 185 1,059 1,173 1,156 881 1,226 External debt flows Disbursements 760 895 364 912 1,263 512 552 775 Long-term external debt 745 880 364 912 1,263 512 552 775 IMF purchases 15 14 0 0 0 0 0 0 Principal repayments 458 356 209 540 767 454 568 358 Long-term external debt 438 316 209 525 767 454 568 358 IMF repurchases 20 40 0 15 0 0 0 0 Net flows 291 448 193 707 459 108 44 425 Long-term external debt 306 564 155 386 496 58 -16 417 Short-term external debt -10 -91 38 335 -37 50 60 7 Interest payments 183 176 217 212 189 139 96 98 Long-term external debt 160 159 203 194 175 119 76 78 IMF charges 3 7 3 2 0 1 1 0 Short-term external debt 20 10 10 15 13 19 20 20 2. Other non-debt resource inflows Foreign direct investment 736 -239 281 366 512 423 622 859 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 1.5 2.6 4.2 3.6 3.1 2.7 2.2 Japanese yen 12.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.2 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 44.3 75.1 65.9 76.2 79.4 81.8 84.6 86.7 4. Average terms of new commitments Official creditors Interest (%) 4.3 4.9 4.1 2.7 3.6 3.4 2.1 1.6 Maturity (years) 28.1 21.6 24.9 22.8 19.9 22.3 20.7 21.5 Grace period (years) 7.8 5.6 5.8 5.2 5.3 5.2 4.6 1.1 Private creditors Interest (%) 1.8 0.0 0.0 5.0 4.8 1.8 0.1 0.0 Maturity (years) 34.3 0.0 0.0 2.0 2.7 15.0 35.7 0.0 Grace period (years) 8.6 0.0 0.0 2.0 2.0 4.5 26.8 0.0 5. Major economic aggregates Gross national income (GNI) 8,172 9,173 11,054 12,631 16,139 16,666 18,790 23,441 Exports of goods, services & prim. income 1,610 3,401 4,585 5,325 7,369 5,663 6,919 9,260 Personal transfers & comp. of employees 127 337 603 1,055 1,135 1,058 960 1,043 Imports of goods, services & prim. income 2,443 3,362 4,090 4,999 6,661 6,062 7,126 9,900 Primary income on FDI 148 271 392 644 681 769 863 977 Current account balance -446 622 1,317 1,591 1,993 814 874 537 International reserves 926 1,328 2,615 4,554 6,927 7,584 8,134 9,911 6. Ratios External debt stocks to exports (%) 365.6 204.7 127.6 101.8 80.6 106.3 87.4 69.9 External debt stocks to GNI (%) 72.0 75.9 52.9 42.9 36.8 36.1 32.2 27.6 Debt service to exports (%) 39.8 15.7 9.3 14.1 13.0 10.5 9.6 4.9 Short-term to external debt stocks (%) 6.8 2.6 3.8 10.2 8.7 9.4 10.4 9.8 Multilateral to external debt stocks (%) 48.7 60.6 47.3 31.3 30.5 32.8 37.4 40.1 Reserves to external debt stocks (%) 15.7 19.1 44.7 84.0 116.7 126.0 134.4 153.1 Reserves to imports (months) 4.6 4.7 7.7 10.9 12.5 15.0 13.7 12.0 76 BOLIVIA, PLURINATIONAL STATE OF (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 5,228 6,497 5,576 4,823 5,377 5,196 5,170 5,587 Public and publicly guaranteed 4,201 4,583 3,189 2,202 2,409 2,549 2,812 3,414 Official creditors 4,168 4,556 3,161 2,166 2,312 2,457 2,788 3,325 Multilateral 2,868 4,220 2,768 1,699 1,810 1,978 2,265 2,597 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1,096 1,673 233 259 281 316 355 395 Bilateral 1,300 336 393 468 502 480 523 729 Private creditors 33 27 28 36 97 92 24 89 of which: Bonds 0 0 0 10 10 0 0 0 Commercial banks 3 5 8 8 74 81 14 80 Private nonguaranteed 1,026 1,914 2,388 2,621 2,969 2,647 2,358 2,173 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 745 880 364 912 1,263 512 552 775 Public and publicly guaranteed 277 434 259 319 590 415 522 775 Official creditors 264 429 255 308 524 408 519 708 Multilateral 239 346 183 222 458 330 436 484 of which: IBRD 0 0 0 0 0 0 0 0 IDA 61 71 34 16 25 34 46 45 Bilateral 25 83 72 86 66 79 84 225 Private creditors 13 4 4 10 67 7 3 67 of which: Bonds 0 0 0 10 0 0 0 0 Commercial banks 0 4 3 0 66 7 0 66 Private nonguaranteed 468 447 105 593 673 97 30 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 438 316 209 525 767 454 568 358 Public and publicly guaranteed 157 185 201 166 376 197 247 173 Official creditors 153 183 197 162 371 184 177 171 Multilateral 122 170 182 145 352 166 139 148 of which: IBRD 12 0 0 0 0 0 0 0 IDA 0 8 5 0 1 2 2 3 Bilateral 32 13 14 16 19 18 38 22 Private creditors 4 2 4 4 5 13 70 2 of which: Bonds 0 0 0 0 0 10 0 0 Commercial banks 1 1 1 0 0 0 66 1 Private nonguaranteed 281 131 8 360 392 257 322 185 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 160 159 203 194 175 119 76 78 Public and publicly guaranteed 113 100 112 103 98 71 54 57 Official creditors 112 100 111 103 98 67 50 54 Multilateral 83 94 102 92 88 57 42 43 of which: IBRD 1 0 0 0 0 0 0 0 IDA 1 12 6 2 2 2 2 3 Bilateral 29 5 10 11 10 10 8 11 Private creditors 1 0 0 0 1 4 4 4 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 3 4 4 Private nonguaranteed 47 59 92 91 77 48 22 20 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 232 682 -1,110 -431 516 84 29 424 Net flows on external debt 291 448 193 707 459 108 44 425 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 64 65 1,788 1,182 17 87 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 197 247 292 327 328 337 335 323 Interest 77 86 89 87 83 80 72 66 Private creditors Principal 622 772 260 248 119 76 241 32 Interest 62 49 18 15 12 10 13 4 Notes: Data include the effects of HIPC and MDRI debt relief. 77 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 2,800 6,378 7,132 9,252 9,818 11,336 10,934 10,729 Long-term external debt 2,619 5,326 5,910 7,531 8,879 9,119 9,128 8,655 Public and publicly guaranteed 1,957 2,559 2,722 2,967 3,008 3,578 3,733 3,874 Private nonguaranteed 663 2,767 3,188 4,564 5,871 5,541 5,394 4,781 Use of IMF credit 131 91 51 35 32 539 769 766 Short-term external debt 49 960 1,171 1,687 907 1,678 1,038 1,308 interest arrears on long-term 1 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 1 0 0 0 0 0 0 0 Long-term public sector debt 1,957 2,559 2,722 2,967 3,008 3,578 3,733 3,874 Long-term private sector debt 663 2,767 3,188 4,564 5,871 5,541 5,394 4,781 Public & publicly guaranteed commitments 197 120 616 232 302 375 781 164 External debt flows Disbursements 138 540 756 1,023 471 683 748 551 Long-term external debt 103 540 756 1,023 471 401 510 551 IMF purchases 36 0 0 0 0 282 237 0 Principal repayments 190 134 148 128 139 171 450 529 Long-term external debt 170 95 104 109 137 171 450 529 IMF repurchases 20 39 44 18 2 0 0 0 Net flows -41 1,052 820 1,411 -448 1,283 -343 292 Long-term external debt -68 445 653 913 335 231 60 22 Short-term external debt 11 647 211 516 -780 771 -640 270 Interest payments 129 176 242 314 397 354 351 341 Long-term external debt 119 136 171 231 316 271 263 251 IMF charges 6 4 4 2 0 2 6 8 Short-term external debt 3 35 68 81 81 81 81 81 2. Other non-debt resource inflows Foreign direct investment 146 624 846 2,107 1,005 142 264 415 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 34.0 35.8 38.2 39.1 48.7 50.8 53.0 Japanese yen 0.0 1.2 1.3 1.2 1.5 1.2 1.3 1.2 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 2.3 1.7 1.2 1.2 1.2 1.1 1.0 0.8 U.S.dollars 27.6 41.2 40.8 40.0 39.0 32.7 30.9 29.4 4. Average terms of new commitments Official creditors Interest (%) 3.7 1.9 3.1 3.9 4.7 1.7 1.0 1.8 Maturity (years) 23.3 17.1 20.6 22.3 16.2 16.1 21.3 15.5 Grace period (years) 6.7 5.9 6.9 6.1 4.3 4.8 6.9 5.2 Private creditors Interest (%) 0.0 0.0 2.9 4.2 1.2 1.0 1.4 2.2 Maturity (years) 0.0 0.0 12.1 15.1 13.4 13.5 13.0 14.1 Grace period (years) 0.0 0.0 2.9 6.9 6.0 4.5 3.5 3.7 5. Major economic aggregates Gross national income (GNI) 6,096 11,416 12,792 15,740 19,213 17,661 16,926 18,316 Exports of goods, services & prim. income 2,247 4,227 5,254 6,728 8,041 6,347 6,811 7,961 Personal transfers & comp. of employees 1,607 2,038 2,149 2,686 2,727 2,127 1,822 1,958 Imports of goods, services & prim. income 4,234 8,103 8,486 11,093 13,486 9,738 10,056 12,024 Primary income on FDI 0 97 175 344 187 -70 27 152 Current account balance -396 -1,844 -998 -1,648 -2,605 -1,088 -946 -1,588 International reserves 497 2,548 3,671 5,042 4,480 4,529 4,366 4,150 6. Ratios External debt stocks to exports (%) 124.6 150.9 135.8 137.5 122.1 178.6 160.5 134.8 External debt stocks to GNI (%) 45.9 55.9 55.8 58.8 51.1 64.2 64.6 58.6 Debt service to exports (%) 14.2 7.3 7.4 6.6 6.7 8.3 11.8 10.9 Short-term to external debt stocks (%) 1.8 15.1 16.4 18.2 9.2 14.8 9.5 12.2 Multilateral to external debt stocks (%) 45.2 26.8 25.3 21.0 20.2 19.4 22.1 23.8 Reserves to external debt stocks (%) 17.7 39.9 51.5 54.5 45.6 40.0 39.9 38.7 Reserves to imports (months) 1.4 3.8 5.2 5.5 4.0 5.6 5.2 4.1 78 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 2,619 5,326 5,910 7,531 8,879 9,119 9,128 8,655 Public and publicly guaranteed 1,957 2,559 2,722 2,967 3,008 3,578 3,733 3,874 Official creditors 1,832 2,404 2,553 2,772 2,808 3,050 3,267 3,451 Multilateral 1,266 1,712 1,802 1,942 1,984 2,198 2,416 2,552 of which: IBRD 562 481 466 453 443 417 445 458 IDA 398 921 983 1,068 1,077 1,102 1,180 1,193 Bilateral 566 692 751 830 824 852 852 900 Private creditors 125 155 169 195 200 527 466 423 of which: Bonds 0 0 0 0 0 322 273 241 Commercial banks 125 155 169 195 200 206 193 182 Private nonguaranteed 663 2,767 3,188 4,564 5,871 5,541 5,394 4,781 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 103 540 756 1,023 471 401 510 551 Public and publicly guaranteed 98 153 128 150 189 329 441 385 Official creditors 98 153 128 138 163 316 427 372 Multilateral 90 133 94 118 128 271 372 287 of which: IBRD 0 0 0 0 0 0 50 41 IDA 44 56 27 57 29 33 115 37 Bilateral 8 21 34 20 35 46 55 85 Private creditors 0 0 0 12 26 12 14 13 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 12 26 12 14 13 Private nonguaranteed 5 386 628 873 282 73 69 166 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 170 95 104 109 137 171 450 529 Public and publicly guaranteed 170 54 67 79 91 110 145 172 Official creditors 170 51 63 72 82 97 108 129 Multilateral 166 44 56 63 71 84 94 111 of which: IBRD 0 24 24 24 25 25 25 26 IDA 0 0 4 9 12 15 18 21 Bilateral 3 7 8 9 11 13 14 18 Private creditors 0 3 3 7 9 13 37 43 of which: Bonds 0 0 0 0 0 0 25 26 Commercial banks 0 3 3 7 9 13 13 17 Private nonguaranteed 1 41 37 30 46 61 305 357 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 119 136 171 231 316 271 263 251 Public and publicly guaranteed 89 53 61 70 80 63 55 66 Official creditors 86 48 56 63 70 56 47 55 Multilateral 74 35 43 49 54 41 32 40 of which: IBRD 33 17 23 26 26 17 8 8 IDA 3 7 8 8 8 8 8 9 Bilateral 13 13 13 14 16 14 15 15 Private creditors 2 6 6 6 10 8 9 11 of which: Bonds 0 0 0 0 0 0 5 6 Commercial banks 2 6 6 6 10 8 3 4 Private nonguaranteed 30 83 109 161 235 208 208 185 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 395 804 755 2,120 565 1,518 -401 -205 Net flows on external debt -41 1,052 820 1,411 -448 1,283 -343 292 9. Debt restructurings Total amount rescheduled 4 0 0 0 0 0 0 2 Total amount forgiven 0 0 0 0 0 28 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 176 201 229 242 249 261 277 281 Interest 65 65 64 61 57 52 47 42 Private creditors Principal 1,337 954 863 530 435 339 271 222 Interest 198 146 109 75 55 39 27 17 Notes: Long-term private nonguaranteed debt data from 2005 are World Bank staff estimates. Short-term debt is based on data from the BIS. 79 BOTSWANA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 458 454 389 420 440 1,707 1,797 2,396 Long-term external debt 438 412 358 391 391 1,388 1,352 1,897 Public and publicly guaranteed 438 412 358 391 391 1,388 1,352 1,897 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 6 6 7 7 7 90 88 88 Short-term external debt 15 35 24 22 43 229 357 411 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 1 0 0 0 0 0 0 0 Long-term public sector debt 432 412 358 391 391 1,388 1,352 1,897 Long-term private sector debt 5 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 0 0 75 50 0 1,777 341 1 External debt flows Disbursements 28 11 4 50 54 1,006 17 595 Long-term external debt 28 11 4 50 54 1,006 17 595 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 52 40 45 37 61 36 56 50 Long-term external debt 52 40 45 37 61 36 56 50 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -29 -17 -51 11 15 1,156 89 598 Long-term external debt -24 -30 -40 13 -6 970 -39 544 Short-term external debt -5 13 -11 -2 21 186 128 54 Interest payments 17 13 12 11 8 11 20 22 Long-term external debt 15 12 10 9 7 9 16 16 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 1 1 2 1 1 2 4 6 2. Other non-debt resource inflows Foreign direct investment 57 492 751 647 902 824 265 587 Portfolio equity -6 27 36 9 -37 17 18 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 6.9 8.2 8.0 7.2 2.0 0.3 0.2 Japanese yen 11.4 17.1 10.4 13.3 13.9 3.5 3.6 2.4 Pound sterling 2.3 5.2 6.1 5.5 3.6 1.0 0.8 0.5 Swiss franc 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 18.0 20.5 20.8 18.3 24.9 7.7 8.1 8.1 4. Average terms of new commitments Official creditors Interest (%) 0.0 0.0 4.6 3.3 0.0 0.8 1.0 0.6 Maturity (years) 0.0 0.0 18.2 20.9 0.0 20.7 23.4 38.1 Grace period (years) 0.0 0.0 5.2 5.9 0.0 5.8 4.5 10.5 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) 5,281 9,420 10,483 11,641 12,811 11,496 14,699 17,398 Exports of goods, services & prim. income 3,378 5,740 5,829 6,402 6,147 4,283 5,441 .. Personal transfers & comp. of employees 26 118 104 92 101 76 32 63 Imports of goods, services & prim. income 3,050 4,851 4,754 5,618 6,319 5,410 6,374 .. Primary income on FDI 658 1,066 1,043 989 1,057 377 598 0 Current account balance 545 1,562 1,946 2,015 868 -521 46 .. International reserves 6,318 6,309 7,992 9,790 9,119 8,704 7,885 8,082 6. Ratios External debt stocks to exports (%) 13.6 7.9 6.7 6.6 7.2 39.9 33.0 .. External debt stocks to GNI (%) 8.7 4.8 3.7 3.6 3.4 14.9 12.2 13.8 Debt service to exports (%) 2.0 0.9 1.0 0.7 1.1 1.1 1.4 .. Short-term to external debt stocks (%) 3.3 7.7 6.2 5.2 9.8 13.4 19.9 17.2 Multilateral to external debt stocks (%) 64.9 57.8 63.1 57.2 56.2 73.3 68.0 74.9 Reserves to external debt stocks (%) 1,378.2 1,391.1 2,056.0 2,331.0 2,070.1 509.8 438.8 337.3 Reserves to imports (months) 24.9 15.6 20.2 20.9 17.3 19.3 14.8 .. 80 BOTSWANA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 438 412 358 391 391 1,388 1,352 1,897 Public and publicly guaranteed 438 412 358 391 391 1,388 1,352 1,897 Official creditors 410 401 349 384 389 1,387 1,351 1,896 Multilateral 297 262 245 240 248 1,252 1,222 1,795 of which: IBRD 16 2 1 0 0 0 6 59 IDA 9 7 6 6 5 5 4 4 Bilateral 112 139 104 144 141 135 129 101 Private creditors 28 12 9 7 2 2 1 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 20 7 5 4 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 28 11 4 50 54 1,006 17 595 Public and publicly guaranteed 28 11 4 50 54 1,006 17 595 Official creditors 24 11 4 50 54 1,006 17 595 Multilateral 8 0 2 8 44 997 16 595 of which: IBRD 0 0 0 0 0 0 6 53 IDA 0 0 0 0 0 0 0 0 Bilateral 16 11 3 43 11 9 1 0 Private creditors 4 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 4 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 52 40 45 37 61 36 56 50 Public and publicly guaranteed 52 40 45 37 61 36 56 50 Official creditors 45 38 42 35 56 35 55 50 Multilateral 33 28 30 25 26 21 41 19 of which: IBRD 7 1 1 1 0 0 0 0 IDA 0 0 0 0 0 0 0 0 Bilateral 12 10 12 10 30 14 14 32 Private creditors 7 2 2 2 5 1 1 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 6 2 2 2 4 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 15 12 10 9 7 9 16 16 Public and publicly guaranteed 15 12 10 9 7 9 16 16 Official creditors 14 11 10 9 7 9 16 16 Multilateral 11 8 7 6 5 5 12 14 of which: IBRD 1 0 0 0 0 0 1 0 IDA 0 0 0 0 0 0 0 0 Bilateral 3 4 3 3 3 3 3 2 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 -52 -63 -65 31 21 1,267 90 599 Net flows on external debt -29 -17 -51 11 15 1,156 89 598 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 0 0 28 0 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 35 34 36 144 147 152 155 151 Interest 20 20 21 21 20 19 17 16 Private creditors Principal 1 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Short-term debt is based on data from the BIS. 81 BRAZIL (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 242,512 188,365 194,305 238,446 262,959 281,651 352,440 404,317 Long-term external debt 209,303 163,859 173,440 198,632 225,755 237,336 282,498 357,738 Public and publicly guaranteed 96,622 94,355 84,552 79,870 79,912 87,510 97,557 94,977 Private nonguaranteed 112,682 69,505 88,889 118,762 145,842 149,826 184,940 262,761 Use of IMF credit 2,235 513 540 567 552 4,526 4,446 4,432 Short-term external debt 30,973 23,993 20,325 39,248 36,652 39,789 65,496 42,146 interest arrears on long-term 176 0 2 2 8 3 4 6 Memorandum items Principal arrears on long-term 1,821 18 3 6 5 9 4 2 Long-term public sector debt 96,176 93,004 83,351 78,649 78,663 84,901 94,456 91,599 Long-term private sector debt 113,127 70,855 90,089 119,983 147,092 152,435 188,042 266,139 Public & publicly guaranteed commitments 30,607 12,659 9,253 11,070 12,812 25,753 17,859 12,195 External debt flows Disbursements 44,079 27,414 52,636 59,915 69,559 57,675 85,379 111,679 Long-term external debt 44,079 27,414 52,636 59,915 69,559 57,675 85,379 111,679 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 41,439 49,597 47,429 40,466 40,353 30,470 32,024 41,777 Long-term external debt 34,746 25,787 47,429 40,466 40,353 30,470 32,024 41,777 IMF repurchases 6,693 23,810 0 0 0 0 0 0 Net flows 4,471 -23,457 1,537 38,372 26,604 30,347 79,061 46,550 Long-term external debt 9,333 1,627 5,207 19,449 29,206 27,205 53,354 69,902 Short-term external debt 1,831 -1,274 -3,670 18,923 -2,602 3,142 25,706 -23,352 Interest payments 17,148 13,308 14,817 14,543 16,188 14,054 13,855 17,293 Long-term external debt 15,297 10,314 13,160 13,034 15,046 13,554 13,157 16,615 IMF charges 357 1,094 131 19 5 10 14 5 Short-term external debt 1,494 1,900 1,526 1,489 1,138 489 684 673 2. Other non-debt resource inflows Foreign direct investment 32,779 15,460 19,378 44,579 50,716 31,481 53,345 71,539 Portfolio equity 3,076 6,451 7,716 26,217 -7,565 37,071 37,684 6,198 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 9.4 10.4 9.8 9.0 7.2 6.1 5.0 Japanese yen 7.4 6.1 5.4 4.7 5.9 5.0 5.0 3.9 Pound sterling 1.0 0.2 0.3 0.0 0.1 0.1 0.1 0.2 Swiss franc 0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.2 U.S.dollars 70.0 79.1 78.7 80.5 80.3 84.0 85.2 87.5 4. Average terms of new commitments Official creditors Interest (%) 5.7 4.7 6.0 4.6 3.6 2.4 0.9 1.0 Maturity (years) 8.6 18.5 17.1 16.7 23.6 15.2 25.1 21.9 Grace period (years) 1.3 4.3 4.4 3.9 3.8 5.0 4.7 4.4 Private creditors Interest (%) 9.9 8.7 7.5 8.5 5.4 5.6 5.5 4.5 Maturity (years) 15.9 14.5 15.1 13.7 14.1 11.2 10.3 9.9 Grace period (years) 14.2 14.0 14.9 9.4 13.6 9.0 9.4 9.6 5. Major economic aggregates Gross national income (GNI) 626,768 856,882 1,061,994 1,337,850 1,613,694 1,589,584 2,104,366 2,429,813 Exports of goods, services & prim. income 68,205 136,200 162,741 196,096 240,904 189,549 241,142 305,226 Personal transfers & comp. of employees 1,649 2,805 3,287 3,306 3,643 2,889 2,640 2,634 Imports of goods, services & prim. income 93,950 125,773 153,426 198,574 273,320 217,189 291,252 360,655 Primary income on FDI 4,238 11,035 13,884 19,692 28,773 21,029 26,584 31,716 Current account balance -24,225 13,985 13,621 1,551 -28,192 -24,302 -47,323 -52,612 International reserves 32,434 53,245 85,156 179,433 192,844 237,364 287,056 350,356 6. Ratios External debt stocks to exports (%) 355.6 138.3 119.4 121.6 109.2 148.6 146.2 132.5 External debt stocks to GNI (%) 38.7 22.0 18.3 17.8 16.3 17.7 16.7 16.6 Debt service to exports (%) 85.9 46.2 38.2 28.1 23.5 23.5 19.0 19.4 Short-term to external debt stocks (%) 12.8 12.7 10.5 16.5 13.9 14.1 18.6 10.4 Multilateral to external debt stocks (%) 7.8 10.4 11.4 9.6 9.4 8.9 8.5 6.2 Reserves to external debt stocks (%) 13.4 28.3 43.8 75.3 73.3 84.3 81.4 86.7 Reserves to imports (months) 4.1 5.1 6.7 10.8 8.5 13.1 11.8 11.7 82 BRAZIL (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 209,303 163,859 173,440 198,632 225,755 237,336 282,498 357,738 Public and publicly guaranteed 96,622 94,355 84,552 79,870 79,912 87,510 97,557 94,977 Official creditors 29,845 26,160 25,671 26,406 29,269 32,595 41,460 36,517 Multilateral 18,825 19,673 22,217 22,979 24,587 24,953 29,923 25,175 of which: IBRD 7,377 8,083 9,694 9,676 10,671 10,065 13,523 9,034 IDA 0 0 0 0 0 0 0 0 Bilateral 11,021 6,487 3,454 3,427 4,682 7,642 11,537 11,342 Private creditors 66,776 68,194 58,881 53,464 50,643 54,916 56,097 58,460 of which: Bonds 54,096 59,077 50,247 46,826 43,237 48,350 47,879 46,474 Commercial banks 11,478 8,331 8,502 6,336 7,191 6,379 7,986 11,759 Private nonguaranteed 112,682 69,505 88,889 118,762 145,842 149,826 184,940 262,761 of which: Bonds 16,846 35,969 38,764 45,311 37,855 53,342 83,032 79,363 Disbursements 44,079 27,414 52,636 59,915 69,559 57,675 85,379 111,679 Public and publicly guaranteed 19,664 13,207 11,136 6,285 16,696 13,732 19,957 13,876 Official creditors 5,272 3,327 4,253 2,065 4,353 6,845 11,317 3,248 Multilateral 4,506 2,326 3,869 1,987 2,967 3,270 7,010 2,859 of which: IBRD 1,692 773 2,203 606 1,726 1,274 4,472 2,018 IDA 0 0 0 0 0 0 0 0 Bilateral 766 1,001 384 78 1,386 3,575 4,307 389 Private creditors 14,391 9,880 6,883 4,220 12,342 6,887 8,640 10,627 of which: Bonds 10,836 8,252 5,614 3,363 10,254 6,100 5,433 3,631 Commercial banks 3,532 1,608 1,250 806 2,080 728 3,092 6,966 Private nonguaranteed 24,415 14,207 41,500 53,630 52,863 43,943 65,422 97,803 of which: Bonds 2,886 6,579 9,832 13,930 6,754 17,015 32,384 30,765 Principal repayments 34,746 25,787 47,429 40,466 40,353 30,470 32,024 41,777 Public and publicly guaranteed 10,932 9,481 24,516 14,124 16,351 7,784 9,626 15,851 Official creditors 7,093 3,334 4,567 2,294 2,402 3,447 2,662 8,349 Multilateral 4,357 1,808 1,545 1,711 1,765 2,865 1,958 7,703 of which: IBRD 887 1,029 743 805 812 1,872 960 6,571 IDA 0 0 0 0 0 0 0 0 Bilateral 2,736 1,526 3,022 584 638 582 703 646 Private creditors 3,839 6,147 19,949 11,829 13,949 4,338 6,965 7,502 of which: Bonds 2,056 4,187 18,083 8,282 12,001 2,760 5,770 4,281 Commercial banks 1,546 1,923 1,825 3,449 1,863 1,494 1,119 3,187 Private nonguaranteed 23,813 16,306 22,914 26,343 24,002 22,685 22,398 25,925 of which: Bonds 2,775 7,063 5,479 8,471 2,420 1,585 2,656 3,666 Interest payments 15,297 10,314 13,160 13,034 15,046 13,554 13,157 16,615 Public and publicly guaranteed 6,943 6,700 7,146 7,078 6,057 5,656 5,172 5,446 Official creditors 1,932 1,058 1,234 1,361 1,291 1,083 967 1,012 Multilateral 1,424 818 984 1,183 1,119 926 640 661 of which: IBRD 464 307 432 548 498 359 180 195 IDA 0 0 0 0 0 0 0 0 Bilateral 508 240 251 178 172 157 327 350 Private creditors 5,010 5,642 5,911 5,717 4,766 4,573 4,205 4,434 of which: Bonds 4,212 5,033 5,231 5,082 4,406 4,148 3,933 3,971 Commercial banks 759 602 672 619 346 407 262 457 Private nonguaranteed 8,355 3,614 6,014 5,956 8,989 7,898 7,985 11,169 of which: Bonds 1,562 2,161 3,799 3,454 2,842 2,936 4,207 5,859 8. Debt stock-flow reconciliation Total change in external debt stocks -2,603 -32,329 5,940 44,141 24,512 18,693 70,789 51,877 Net flows on external debt 4,471 -23,457 1,537 38,372 26,604 30,347 79,061 46,550 9. Debt restructurings Total amount rescheduled 0 4,271 0 28 265 4 78 1 Total amount forgiven 137 0 0 0 56 0 0 0 Debt buyback 6,342 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 2,745 2,504 2,610 4,741 4,644 4,566 4,254 4,039 Interest 823 790 765 700 598 495 387 287 Private creditors Principal 38,454 45,876 31,912 36,441 25,383 21,731 16,113 19,212 Interest 15,217 14,628 13,056 11,436 9,830 8,494 7,761 6,764 Notes: Long-term private nonguaranteed debt data are reported by the country. 83 BULGARIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 12,008 16,573 21,989 33,958 49,544 54,456 49,018 39,930 Long-term external debt 8,440 10,597 12,689 18,957 30,269 34,921 32,704 26,085 Public and publicly guaranteed 7,671 5,075 5,147 5,268 4,397 4,772 4,466 4,138 Private nonguaranteed 769 5,522 7,543 13,689 25,871 30,148 28,238 21,947 Use of IMF credit 2,118 1,533 1,260 965 941 958 941 938 Short-term external debt 1,450 4,442 8,040 14,036 18,334 18,578 15,373 12,907 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 1 0 0 0 0 0 0 0 Long-term public sector debt 7,671 5,075 5,147 5,268 4,397 4,772 4,466 4,138 Long-term private sector debt 769 5,522 7,543 13,689 25,871 30,148 28,238 21,947 Public & publicly guaranteed commitments 700 266 104 455 732 280 320 207 External debt flows Disbursements 995 3,710 3,616 7,740 15,545 8,191 1,499 3,501 Long-term external debt 719 3,710 3,616 7,740 15,545 8,191 1,499 3,501 IMF purchases 276 0 0 0 0 0 0 0 Principal repayments 712 3,352 1,992 3,033 3,641 3,817 3,381 3,596 Long-term external debt 573 2,909 1,645 2,686 3,641 3,817 3,381 3,596 IMF repurchases 139 443 346 347 0 0 0 0 Net flows 465 1,564 5,222 10,704 16,202 4,617 -5,087 -2,562 Long-term external debt 145 801 1,970 5,054 11,904 4,374 -1,881 -95 Short-term external debt 183 1,206 3,598 5,996 4,298 244 -3,205 -2,466 Interest payments 619 640 712 1,211 1,623 1,515 654 870 Long-term external debt 456 445 421 618 864 770 586 786 IMF charges 98 65 61 41 8 2 3 1 Short-term external debt 65 130 230 552 752 743 66 83 2. Other non-debt resource inflows Foreign direct investment 1,002 4,098 7,874 13,875 10,297 3,897 1,936 1,981 Portfolio equity 5 449 148 89 -106 8 9 -46 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 48.4 50.8 51.7 51.7 56.8 56.1 58.5 Japanese yen 5.5 5.1 6.4 7.4 12.9 12.4 14.4 15.2 Pound sterling 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 80.1 44.9 41.8 40.0 34.6 30.4 29.2 26.2 4. Average terms of new commitments Official creditors Interest (%) 6.2 3.0 3.7 4.9 2.3 2.0 2.4 4.0 Maturity (years) 16.7 16.2 16.1 16.6 20.7 17.6 20.1 20.3 Grace period (years) 4.4 4.7 2.6 4.5 5.1 5.3 5.8 4.8 Private creditors Interest (%) 7.6 4.2 5.0 0.0 2.0 0.0 0.0 0.0 Maturity (years) 16.0 9.4 10.0 0.0 29.2 0.0 0.0 0.0 Grace period (years) 4.9 1.9 0.5 0.0 9.2 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 12,580 28,979 32,358 38,878 49,257 46,903 46,225 51,228 Exports of goods, services & prim. income 7,321 17,674 21,972 27,487 31,897 24,384 28,139 36,663 Personal transfers & comp. of employees 58 1,613 1,716 1,694 1,919 1,592 1,333 1,483 Imports of goods, services & prim. income 8,314 22,034 28,680 39,909 45,096 29,966 30,711 38,458 Primary income on FDI 107 912 1,857 3,742 2,725 1,823 1,569 2,363 Current account balance -703 -3,347 -5,863 -11,437 -11,875 -4,256 -591 579 International reserves 3,155 8,041 10,943 16,478 16,816 17,127 15,421 15,252 6. Ratios External debt stocks to exports (%) 164.0 93.8 100.1 123.5 155.3 223.3 174.2 108.9 External debt stocks to GNI (%) 95.5 57.2 68.0 87.3 100.6 116.1 106.0 77.9 Debt service to exports (%) 18.2 22.6 12.3 15.4 16.5 21.9 14.3 12.2 Short-term to external debt stocks (%) 12.1 26.8 36.6 41.3 37.0 34.1 31.4 32.3 Multilateral to external debt stocks (%) 12.8 14.8 10.9 7.9 4.4 4.6 4.8 5.9 Reserves to external debt stocks (%) 26.3 48.5 49.8 48.5 33.9 31.5 31.5 38.2 Reserves to imports (months) 4.6 4.4 4.6 5.0 4.5 6.9 6.0 4.8 84 BULGARIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 8,440 10,597 12,689 18,957 30,269 34,921 32,704 26,085 Public and publicly guaranteed 7,671 5,075 5,147 5,268 4,397 4,772 4,466 4,138 Official creditors 2,603 3,045 3,012 3,362 3,019 3,322 3,152 3,141 Multilateral 1,542 2,457 2,392 2,674 2,198 2,507 2,330 2,362 of which: IBRD 824 1,453 1,331 1,604 1,207 1,509 1,338 1,244 IDA 0 0 0 0 0 0 0 0 Bilateral 1,061 587 620 688 821 815 823 779 Private creditors 5,068 2,030 2,135 1,906 1,378 1,450 1,314 997 of which: Bonds 4,982 1,920 2,018 1,818 1,342 1,430 1,301 991 Commercial banks 26 111 116 86 34 19 12 5 Private nonguaranteed 769 5,522 7,543 13,689 25,871 30,148 28,238 21,947 of which: Bonds 0 526 736 855 522 146 134 0 Disbursements 719 3,710 3,616 7,740 15,545 8,191 1,499 3,501 Public and publicly guaranteed 405 402 260 368 370 520 200 294 Official creditors 381 383 243 361 362 520 200 294 Multilateral 156 328 150 293 227 446 176 291 of which: IBRD 71 200 38 201 56 370 20 41 IDA 0 0 0 0 0 0 0 0 Bilateral 225 55 93 68 136 74 23 4 Private creditors 24 19 17 7 8 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 24 19 16 7 8 0 0 0 Private nonguaranteed 313 3,308 3,355 7,372 15,175 7,671 1,299 3,206 of which: Bonds 0 249 215 0 0 0 0 0 Principal repayments 573 2,909 1,645 2,686 3,641 3,817 3,381 3,596 Public and publicly guaranteed 345 1,761 515 404 733 404 268 258 Official creditors 297 255 502 299 715 266 261 251 Multilateral 58 214 430 253 658 187 185 178 of which: IBRD 27 85 276 65 462 85 90 98 IDA 0 0 0 0 0 0 0 0 Bilateral 239 41 73 47 57 79 76 73 Private creditors 48 1,507 13 105 19 138 7 7 of which: Bonds 46 1,496 0 87 0 123 0 0 Commercial banks 1 11 13 18 19 15 7 7 Private nonguaranteed 229 1,147 1,130 2,282 2,908 3,413 3,113 3,338 of which: Bonds 0 10 49 0 287 372 0 139 Interest payments 456 445 421 618 864 770 586 786 Public and publicly guaranteed 424 327 284 300 292 208 177 188 Official creditors 139 93 100 129 148 106 71 83 Multilateral 81 75 82 110 124 84 49 60 of which: IBRD 49 40 44 62 72 43 17 23 IDA 0 0 0 0 0 0 0 0 Bilateral 58 18 19 19 24 22 23 23 Private creditors 285 234 183 171 144 102 106 105 of which: Bonds 284 229 176 163 139 101 106 105 Commercial banks 0 5 7 7 5 1 0 0 Private nonguaranteed 32 118 137 318 572 562 408 598 of which: Bonds 0 30 44 55 36 29 11 6 8. Debt stock-flow reconciliation Total change in external debt stocks 150 -42 5,416 11,969 15,585 4,913 -5,439 -9,088 Net flows on external debt 465 1,564 5,222 10,704 16,202 4,617 -5,087 -2,562 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 12 72 14 20 83 0 0 0 Debt buyback 0 0 0 0 3 123 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 411 275 288 301 310 318 296 233 Interest 88 77 72 65 59 51 44 37 Private creditors Principal 5,926 4,518 3,731 2,839 1,756 1,317 1,098 878 Interest 1,041 790 540 382 250 171 105 53 Notes: Long-term private nonguaranteed debt data from 2008 are World Bank staff estimates based on reports provided by the country. The data may include long-term public and publicly guaranteed debt owed by the state-owned railway. 85 BURKINA FASO (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 1,435 2,000 1,132 1,465 1,689 1,921 2,179 2,420 Long-term external debt 1,226 1,861 994 1,258 1,510 1,720 1,937 2,056 Public and publicly guaranteed 1,226 1,861 994 1,258 1,510 1,720 1,937 2,056 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 124 117 49 52 69 201 217 233 Short-term external debt 84 22 89 155 110 0 25 131 interest arrears on long-term 5 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 42 36 39 37 34 34 33 34 Long-term public sector debt 1,226 1,861 994 1,258 1,510 1,720 1,937 2,056 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 53 239 295 389 405 154 98 117 External debt flows Disbursements 99 223 303 232 316 272 299 183 Long-term external debt 91 208 284 231 298 217 277 163 IMF purchases 7 15 19 1 18 54 21 20 Principal repayments 33 28 27 25 27 28 31 46 Long-term external debt 26 24 27 25 27 28 30 42 IMF repurchases 7 4 0 0 0 0 1 4 Net flows 47 194 344 273 244 134 293 243 Long-term external debt 65 184 258 206 271 189 247 120 Short-term external debt -19 -2 67 66 -45 -110 25 106 Interest payments 14 17 18 17 18 15 19 24 Long-term external debt 12 16 15 12 14 15 18 21 IMF charges 1 1 1 1 0 0 0 0 Short-term external debt 1 1 2 5 3 0 1 4 2. Other non-debt resource inflows Foreign direct investment 23 52 84 22 33 56 35 7 Portfolio equity -3 -4 1 -1 -2 .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 1.5 5.8 6.4 12.7 12.4 12.0 11.9 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 59.4 56.9 40.9 40.0 36.7 35.9 33.9 32.7 4. Average terms of new commitments Official creditors Interest (%) 1.4 0.9 0.8 1.3 1.1 0.8 1.3 1.7 Maturity (years) 37.1 35.6 40.8 32.6 35.5 32.2 35.3 26.6 Grace period (years) 7.8 8.7 10.1 8.5 9.1 7.8 8.9 7.3 Private creditors Interest (%) 0.0 4.2 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 11.2 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 1.7 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 2,606 5,420 5,842 6,754 8,348 8,343 8,819 10,188 Exports of goods, services & prim. income 251 583 728 804 1,069 1,140 1,998 .. Personal transfers & comp. of employees 67 57 68 84 99 96 111 111 Imports of goods, services & prim. income 691 1,452 1,511 1,767 2,442 2,035 2,678 .. Primary income on FDI 3 7 7 11 38 35 .. .. Current account balance -319 -634 -543 -560 -963 -380 -183 .. International reserves 243 438 555 1,029 928 1,296 1,068 957 6. Ratios External debt stocks to exports (%) 572.8 343.0 155.4 182.3 158.0 168.4 109.0 .. External debt stocks to GNI (%) 55.1 36.9 19.4 21.7 20.2 23.0 24.7 23.8 Debt service to exports (%) 18.8 7.8 6.1 5.2 4.2 3.8 2.5 .. Short-term to external debt stocks (%) 5.9 1.1 7.9 10.6 6.5 .. 1.1 5.4 Multilateral to external debt stocks (%) 71.4 84.6 68.8 66.9 70.9 73.0 73.9 71.9 Reserves to external debt stocks (%) 16.9 21.9 49.0 70.2 54.9 67.5 49.0 39.5 Reserves to imports (months) 4.2 3.6 4.4 7.0 4.6 7.6 4.8 .. 86 BURKINA FASO (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 1,226 1,861 994 1,258 1,510 1,720 1,937 2,056 Public and publicly guaranteed 1,226 1,861 994 1,258 1,510 1,720 1,937 2,056 Official creditors 1,223 1,861 981 1,232 1,489 1,699 1,919 2,041 Multilateral 1,025 1,692 779 980 1,198 1,403 1,611 1,741 of which: IBRD 0 0 0 0 0 0 0 0 IDA 593 1,043 371 468 626 721 776 837 Bilateral 198 169 202 252 291 296 308 301 Private creditors 3 0 12 26 22 22 18 15 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 91 208 284 231 298 217 277 163 Public and publicly guaranteed 91 208 284 231 298 217 277 163 Official creditors 91 208 273 217 298 217 277 163 Multilateral 76 196 235 167 242 200 248 155 of which: IBRD 0 0 0 0 0 0 0 0 IDA 38 107 125 80 160 90 67 68 Bilateral 16 13 38 50 55 17 29 8 Private creditors 0 0 12 14 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 26 24 27 25 27 28 30 42 Public and publicly guaranteed 26 24 27 25 27 28 30 42 Official creditors 26 24 27 22 24 28 27 40 Multilateral 20 17 18 11 15 17 18 24 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 5 3 0 0 0 0 3 Bilateral 6 8 9 11 9 10 10 16 Private creditors 0 0 0 3 3 0 2 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 12 16 15 12 14 15 18 21 Public and publicly guaranteed 12 16 15 12 14 15 18 21 Official creditors 12 16 15 12 14 15 18 21 Multilateral 9 14 13 9 11 12 13 15 of which: IBRD 0 0 0 0 0 0 0 0 IDA 4 8 5 4 4 5 5 6 Bilateral 2 2 3 3 3 3 5 5 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -162 70 -868 333 224 232 258 241 Net flows on external debt 47 194 344 273 244 134 293 243 9. Debt restructurings Total amount rescheduled 17 71 4 0 1 0 1 0 Total amount forgiven 81 49 1,290 3 7 3 8 0 Debt buyback 92 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 60 69 75 80 87 100 107 112 Interest 24 25 25 25 24 24 23 22 Private creditors Principal 3 3 3 3 3 0 0 0 Interest 1 0 0 0 0 0 0 0 Notes: Short-term debt is based on data from the BIS. Data include the effects of HIPC and MDRI debt relief. 87 BURUNDI (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 1125.9 1288.1 1372.9 1410.7 1396.3 620.0 642.9 627.7 Long-term external debt 1036.0 1176.3 1231.9 1277.1 1240.2 406.2 403.9 386.6 Public and publicly guaranteed 1036.0 1176.3 1231.9 1277.1 1240.2 406.2 403.9 386.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 24.9 77.7 103.3 119.9 138.0 206.7 223.4 240.7 Short-term external debt 65.0 34.1 37.6 13.8 18.1 7.1 15.7 0.4 interest arrears on long-term 19.7 33.1 36.6 12.8 4.1 0.1 0.7 0.4 Memorandum items Principal arrears on long-term 82.1 75.2 76.4 60.2 64.4 19.8 18.2 12.1 Long-term public sector debt 1036.0 1176.3 1231.9 1277.1 1240.2 406.2 403.9 386.6 Long-term private sector debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public & publicly guaranteed commitments 50.3 39.2 3.8 2.4 37.0 8.0 5.1 20.0 External debt flows Disbursements 41.3 63.3 60.4 42.2 46.6 43.9 55.8 47.8 Long-term external debt 41.3 42.1 39.4 31.3 24.8 23.6 35.6 27.0 IMF purchases 0.0 21.1 21.0 10.9 21.7 20.4 20.1 20.8 Principal repayments 14.0 27.1 12.9 11.2 11.3 15.3 1.8 6.2 Long-term external debt 9.4 27.1 12.9 11.2 11.3 8.4 1.8 4.0 IMF repurchases 4.5 0.0 0.0 0.0 0.0 6.9 0.0 2.3 Net flows 18.4 34.2 47.5 31.0 48.3 21.6 62.0 26.6 Long-term external debt 31.8 15.0 26.5 20.1 13.5 15.2 33.9 23.0 Short-term external debt -8.9 -2.0 0.0 0.0 13.0 -7.0 8.0 -15.0 Interest payments 8.7 12.8 6.3 6.9 8.3 4.4 1.9 2.2 Long-term external debt 4.5 11.9 5.1 5.7 7.4 3.6 1.4 2.0 IMF charges 0.8 0.8 1.2 1.2 0.7 0.7 0.4 0.1 Short-term external debt 3.3 0.1 0.1 0.0 0.2 0.1 0.1 0.0 2. Other non-debt resource inflows Foreign direct investment 11.7 0.6 0.0 0.5 3.8 0.3 0.8 3.4 Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 7.6 7.7 8.0 6.0 17.4 9.5 0.6 Japanese yen 2.8 1.4 0.8 0.8 1.0 3.0 3.0 3.3 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 59.4 64.6 64.3 63.6 63.6 34.8 38.0 43.3 4. Average terms of new commitments Official creditors Interest (%) 1.7 0.8 0.0 1.5 1.0 1.0 1.0 1.0 Maturity (years) 31.3 47.8 19.6 22.5 19.5 28.5 19.6 22.0 Grace period (years) 8.2 10.2 10.1 4.7 6.4 10.0 8.0 5.5 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) 847.4 1135.0 1246.2 1325.2 1625.0 1821.4 2032.7 2332.5 Exports of goods, services & prim. income 55.4 98.7 97.8 98.3 163.9 119.7 181.9 243.1 Personal transfers & comp. of employees .. 0.1 0.0 0.2 3.6 28.2 34.5 45.5 Imports of goods, services & prim. income 164.9 343.9 460.4 450.8 609.4 538.0 618.7 790.3 Primary income on FDI 0.4 2.1 3.4 4.8 5.3 8.1 10.1 8.2 Current account balance -50.2 -5.7 -133.5 -111.3 -259.4 -161.2 -301.0 -283.6 International reserves 32.9 100.1 130.5 176.3 265.7 322.0 330.7 294.0 6. Ratios External debt stocks to exports (%) 2031.9 1304.4 1404.0 1435.1 852.2 517.9 353.5 258.2 External debt stocks to GNI (%) 132.9 113.5 110.2 106.5 85.9 34.0 31.6 26.9 Debt service to exports (%) 40.9 40.4 19.6 18.4 12.0 16.5 2.1 3.4 Short-term to external debt stocks (%) 5.8 2.6 2.7 1.0 1.3 1.1 2.4 0.1 Multilateral to external debt stocks (%) 79.1 81.9 81.3 82.8 82.5 49.8 52.3 50.8 Reserves to external debt stocks (%) 2.9 7.8 9.5 12.5 19.0 51.9 51.4 46.8 Reserves to imports (months) 2.4 3.5 3.4 4.7 5.2 7.2 6.4 4.5 88 BURUNDI (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 1036.0 1176.3 1231.9 1277.1 1240.2 406.2 403.9 386.6 Public and publicly guaranteed 1036.0 1176.3 1231.9 1277.1 1240.2 406.2 403.9 386.6 Official creditors 1032.0 1174.1 1231.3 1276.4 1240.2 406.2 403.9 386.6 Multilateral 890.4 1054.8 1116.2 1168.4 1151.3 308.8 335.9 319.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 600.5 750.8 797.0 830.1 818.5 147.2 162.7 170.2 Bilateral 141.6 119.3 115.0 108.0 88.9 97.4 67.9 67.5 Private creditors 4.0 2.1 0.6 0.7 0.0 0.0 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 41.3 42.1 39.4 31.3 24.8 23.6 35.6 27.0 Public and publicly guaranteed 41.3 42.1 39.4 31.3 24.8 23.6 35.6 27.0 Official creditors 38.2 42.1 36.9 31.3 24.8 23.6 35.6 27.0 Multilateral 38.2 42.1 36.9 29.8 24.3 23.6 35.6 27.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 36.4 27.4 28.9 19.2 13.8 8.7 17.8 8.9 Bilateral 0.0 0.0 0.0 1.5 0.5 0.0 0.0 0.0 Private creditors 3.0 0.0 2.5 0.0 0.0 0.0 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 9.4 27.1 12.9 11.2 11.3 8.4 1.8 4.0 Public and publicly guaranteed 9.4 27.1 12.9 11.2 11.3 8.4 1.8 4.0 Official creditors 9.4 22.5 8.9 11.2 11.3 8.4 1.8 4.0 Multilateral 9.4 22.3 8.9 10.7 10.0 8.4 1.8 2.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 8.8 8.5 0.0 0.0 0.1 0.1 0.0 0.3 Bilateral 0.0 0.2 0.0 0.6 1.3 0.0 0.0 1.2 Private creditors 0.0 4.6 4.0 0.0 0.0 0.0 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 4.5 11.9 5.1 5.7 7.4 3.6 1.4 2.0 Public and publicly guaranteed 4.5 11.9 5.1 5.7 7.4 3.6 1.4 2.0 Official creditors 4.5 11.9 5.1 5.7 7.4 3.6 1.4 2.0 Multilateral 4.5 11.7 4.5 5.6 6.2 3.1 1.3 1.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 4.4 4.3 1.7 2.4 3.7 1.0 0.8 1.1 Bilateral 0.0 0.2 0.6 0.1 1.2 0.5 0.1 0.1 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 8. Debt stock-flow reconciliation Total change in external debt stocks -27.9 -70.0 84.8 37.9 -14.4 -776.3 22.9 -15.2 Net flows on external debt 18.4 34.2 47.5 31.0 48.3 21.6 62.0 26.6 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 0.0 71.4 3.4 0.0 Total amount forgiven 0.0 11.5 28.2 22.4 53.2 821.0 1.8 44.0 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 11.9 12.7 11.9 14.0 14.3 13.9 15.2 15.4 Interest 3.3 3.3 3.3 3.2 3.1 3.0 2.9 2.8 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement and HIPC and MDRI debt relief. 89 CAMBODIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 2,648 3,537 3,550 2,813 3,267 3,523 3,833 4,336 Long-term external debt 2,328 3,155 3,318 2,565 2,920 3,127 3,442 3,815 Public and publicly guaranteed 2,328 3,155 3,318 2,565 2,920 3,127 3,442 3,815 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 93 103 23 24 24 132 129 129 Short-term external debt 227 279 209 224 323 265 262 392 interest arrears on long-term 131 243 173 164 197 208 215 221 Memorandum items Principal arrears on long-term 1,275 1,485 1,508 180 192 204 216 236 Long-term public sector debt 2,328 3,155 3,318 2,565 2,920 3,127 3,442 3,815 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 185 208 149 390 305 727 488 545 External debt flows Disbursements 90 168 153 154 383 211 347 401 Long-term external debt 79 168 153 154 383 211 347 401 IMF purchases 11 0 0 0 0 0 0 0 Principal repayments 14 16 15 13 19 26 33 41 Long-term external debt 7 8 15 13 19 26 33 41 IMF repurchases 7 9 0 0 0 0 0 0 Net flows 128 154 138 165 430 116 303 485 Long-term external debt 72 160 138 141 364 185 313 361 Short-term external debt 52 2 0 24 66 -69 -10 124 Interest payments 19 15 16 18 23 24 29 36 Long-term external debt 12 12 13 15 21 22 28 34 IMF charges 1 1 1 1 0 0 0 0 Short-term external debt 5 2 2 3 2 1 1 2 2. Other non-debt resource inflows Foreign direct investment 149 379 483 867 815 539 783 892 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 0.8 0.8 1.2 1.1 1.2 1.1 1.0 Japanese yen 0.3 1.1 1.2 2.1 2.7 3.1 3.6 3.9 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 36.9 48.5 48.6 86.2 84.8 84.2 82.2 77.9 4. Average terms of new commitments Official creditors Interest (%) 1.4 1.4 1.0 1.5 1.2 1.3 1.5 1.2 Maturity (years) 30.2 26.8 26.1 23.6 29.4 25.4 25.1 25.6 Grace period (years) 8.1 9.2 9.7 7.7 8.5 8.5 8.3 9.7 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 3,534 6,006 6,969 8,263 9,844 9,918 10,664 12,297 Exports of goods, services & prim. income 1,893 4,096 5,079 5,748 6,462 5,877 6,943 7,493 Personal transfers & comp. of employees 121 200 297 353 325 338 321 354 Imports of goods, services & prim. income 2,453 4,923 5,971 6,823 8,127 7,382 8,467 8,789 Primary income on FDI 123 227 270 353 403 358 399 0 Current account balance -136 -307 -262 -481 -1,051 -931 -879 -712 International reserves 502 953 1,157 1,807 2,292 2,851 3,255 3,450 6. Ratios External debt stocks to exports (%) 139.9 86.4 69.9 48.9 50.6 60.0 55.2 57.9 External debt stocks to GNI (%) 74.9 58.9 50.9 34.0 33.2 35.5 35.9 35.3 Debt service to exports (%) 1.7 0.8 0.6 0.5 0.7 0.8 0.9 1.0 Short-term to external debt stocks (%) 8.6 7.9 5.9 8.0 9.9 7.5 6.8 9.0 Multilateral to external debt stocks (%) 14.4 29.9 32.9 46.1 43.5 42.6 39.9 36.6 Reserves to external debt stocks (%) 18.9 26.9 32.6 64.2 70.2 80.9 84.9 79.6 Reserves to imports (months) 2.5 2.3 2.3 3.2 3.4 4.6 4.6 4.7 90 CAMBODIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 2,328 3,155 3,318 2,565 2,920 3,127 3,442 3,815 Public and publicly guaranteed 2,328 3,155 3,318 2,565 2,920 3,127 3,442 3,815 Official creditors 2,328 3,155 3,318 2,565 2,920 3,127 3,442 3,815 Multilateral 381 1,059 1,168 1,298 1,420 1,501 1,529 1,587 of which: IBRD 0 0 0 0 0 0 0 0 IDA 207 462 500 535 545 566 565 575 Bilateral 1,947 2,096 2,150 1,267 1,500 1,626 1,913 2,228 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 Disbursements 79 168 153 154 383 211 347 401 Public and publicly guaranteed 79 168 153 154 383 211 347 401 Official creditors 79 168 153 154 383 211 347 401 Multilateral 78 130 79 78 145 92 80 102 of which: IBRD 0 0 0 0 0 0 0 0 IDA 37 36 19 18 20 23 17 21 Bilateral 1 38 74 76 238 119 267 299 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 7 8 15 13 19 26 33 41 Public and publicly guaranteed 7 8 15 13 19 26 33 41 Official creditors 7 8 15 13 19 26 33 41 Multilateral 0 5 9 11 17 23 29 37 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 2 4 5 6 6 8 9 Bilateral 7 2 6 2 2 3 5 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 Interest payments 12 12 13 15 21 22 28 34 Public and publicly guaranteed 12 12 13 15 21 22 28 34 Official creditors 12 12 13 15 21 22 28 34 Multilateral 3 10 10 11 13 13 14 17 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 4 4 4 4 4 4 5 Bilateral 9 3 3 4 8 9 14 17 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 109 74 13 -737 453 257 310 503 Net flows on external debt 128 154 138 165 430 116 303 485 9. Debt restructurings Total amount rescheduled 0 0 0 458 0 0 0 0 Total amount forgiven 0 0 106 972 0 0 4 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 75 87 114 165 175 224 259 274 Interest 48 51 53 53 53 52 50 47 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Short-term debt is based on data from the BIS. Data include the effects of MDRI debt relief. 91 CAMEROON (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 10,561 7,700 3,419 3,087 2,827 3,239 3,195 3,074 Long-term external debt 9,070 7,059 2,881 2,794 2,724 2,783 2,741 2,562 Public and publicly guaranteed 8,753 6,467 2,392 2,158 2,088 2,168 2,164 2,101 Private nonguaranteed 317 592 489 636 636 615 577 461 Use of IMF credit 267 307 45 55 62 453 445 442 Short-term external debt 1,224 334 493 238 41 3 9 70 interest arrears on long-term 205 280 425 39 41 3 9 2 Memorandum items Principal arrears on long-term 322 51 90 1 19 61 70 0 Long-term public sector debt 8,706 6,467 2,392 2,158 2,088 2,168 2,164 2,101 Long-term private sector debt 364 592 489 636 636 615 577 461 Public & publicly guaranteed commitments 100 48 41 446 168 622 492 1,621 External debt flows Disbursements 354 231 162 250 284 503 278 141 Long-term external debt 286 227 158 242 276 356 278 141 IMF purchases 69 4 4 8 8 147 0 0 Principal repayments 270 576 364 366 352 334 154 235 Long-term external debt 253 537 343 366 352 334 154 233 IMF repurchases 17 39 21 0 0 0 0 1 Net flows -21 -683 -188 16 -267 169 124 -25 Long-term external debt 33 -310 -185 -124 -77 22 124 -92 Short-term external debt -105 -339 14 131 -199 0 0 68 Interest payments 290 243 130 123 97 59 43 87 Long-term external debt 215 228 124 114 91 57 42 86 IMF charges 3 3 2 1 0 1 1 0 Short-term external debt 72 12 4 8 5 0 0 0 2. Other non-debt resource inflows Foreign direct investment 159 244 59 189 21 740 538 360 Portfolio equity 0 -4 -6 -14 -1 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 68.0 78.4 73.2 66.6 64.4 54.7 51.0 Japanese yen 0.5 1.2 0.0 0.0 0.0 0.0 0.3 0.5 Pound sterling 1.9 1.6 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.7 0.6 0.3 0.3 0.3 0.3 0.3 0.3 U.S.dollars 23.8 19.5 9.9 12.3 14.0 13.6 18.7 18.9 4. Average terms of new commitments Official creditors Interest (%) 0.9 0.4 1.4 0.9 0.6 1.3 0.9 1.8 Maturity (years) 38.6 30.4 24.3 36.9 35.3 29.0 31.8 20.4 Grace period (years) 9.5 9.1 5.6 8.5 8.3 7.6 8.9 5.3 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 5.2 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 11.9 0.0 13.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 2.4 0.0 1.0 5. Major economic aggregates Gross national income (GNI) 9,464 16,126 17,706 20,606 23,407 22,051 22,250 25,164 Exports of goods, services & prim. income 2,694 4,248 4,890 6,314 7,372 5,438 5,692 .. Personal transfers & comp. of employees 30 77 130 167 162 184 115 121 Imports of goods, services & prim. income 3,021 4,977 5,009 6,472 8,419 6,835 6,694 .. Primary income on FDI 41 289 10 385 165 436 166 0 Current account balance -218 -493 193 286 -450 -1,119 -856 .. International reserves 212 949 1,716 2,907 3,087 3,676 3,643 3,199 6. Ratios External debt stocks to exports (%) 392.0 181.3 69.9 48.9 38.4 59.6 56.1 .. External debt stocks to GNI (%) 111.6 47.7 19.3 15.0 12.1 14.7 14.4 12.2 Debt service to exports (%) 20.8 19.3 10.1 7.7 6.1 7.2 3.5 .. Short-term to external debt stocks (%) 11.6 4.3 14.4 7.7 1.4 0.1 0.3 2.3 Multilateral to external debt stocks (%) 13.4 20.6 14.9 18.2 21.5 21.2 24.6 28.0 Reserves to external debt stocks (%) 2.0 12.3 50.2 94.2 109.2 113.5 114.0 104.0 Reserves to imports (months) 0.8 2.3 4.1 5.4 4.4 6.5 6.5 .. 92 CAMEROON (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 9,070 7,059 2,881 2,794 2,724 2,783 2,741 2,562 Public and publicly guaranteed 8,753 6,467 2,392 2,158 2,088 2,168 2,164 2,101 Official creditors 8,436 6,384 2,327 2,152 2,083 2,154 2,144 2,078 Multilateral 1,419 1,585 510 562 609 685 785 861 of which: IBRD 218 84 46 40 35 30 24 19 IDA 769 1,032 170 198 225 273 350 412 Bilateral 7,018 4,798 1,817 1,591 1,474 1,469 1,360 1,217 Private creditors 317 83 65 5 6 14 20 23 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 172 40 46 5 5 14 20 23 Private nonguaranteed 317 592 489 636 636 615 577 461 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 286 227 158 242 276 356 278 141 Public and publicly guaranteed 247 130 119 160 189 147 278 141 Official creditors 247 130 118 160 189 139 272 137 Multilateral 115 68 84 83 106 111 141 119 of which: IBRD 0 0 0 0 0 0 0 0 IDA 55 31 29 20 29 48 82 68 Bilateral 133 62 33 77 83 28 131 18 Private creditors 0 0 1 0 0 8 6 5 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 1 0 0 8 6 5 Private nonguaranteed 39 98 39 82 87 209 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 253 537 343 366 352 334 154 233 Public and publicly guaranteed 166 396 182 182 160 104 116 122 Official creditors 162 396 182 163 160 104 116 121 Multilateral 97 92 85 40 40 39 23 34 of which: IBRD 53 32 39 5 5 5 5 5 IDA 7 12 6 0 1 2 2 3 Bilateral 66 303 97 123 120 66 92 87 Private creditors 4 0 0 19 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 4 0 0 16 0 0 0 1 Private nonguaranteed 86 141 161 183 192 229 38 111 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 215 228 124 114 91 57 42 86 Public and publicly guaranteed 198 178 67 71 47 26 27 58 Official creditors 198 177 67 49 47 26 27 57 Multilateral 48 27 20 16 14 11 8 13 of which: IBRD 22 5 4 2 2 2 1 1 IDA 5 8 5 2 2 2 2 3 Bilateral 149 150 47 33 33 15 19 43 Private creditors 1 1 0 23 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 23 0 0 0 1 Private nonguaranteed 17 51 57 42 44 31 15 28 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -204 -3,156 -4,282 -332 -260 411 -44 -120 Net flows on external debt -21 -683 -188 16 -267 169 124 -25 9. Debt restructurings Total amount rescheduled 254 68 21 4 0 0 0 0 Total amount forgiven 7 227 4,554 293 34 17 64 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 142 133 138 186 182 245 249 259 Interest 58 63 67 69 70 68 65 61 Private creditors Principal 55 55 55 55 55 55 55 55 Interest 9 8 7 6 5 4 3 2 Notes: Data include the effects of HIPC and MDRI debt relief. 93 CAPE VERDE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 320 477 524 581 626 727 892 1,025 Long-term external debt 315 463 510 565 611 700 868 1,004 Public and publicly guaranteed 315 463 510 565 611 700 868 1,004 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 1 13 14 14 13 25 23 20 Short-term external debt 4 1 1 1 1 2 2 2 interest arrears on long-term 4 1 1 1 1 2 2 2 Memorandum items Principal arrears on long-term 32 3 2 2 2 2 2 2 Long-term public sector debt 315 463 510 565 611 700 868 1,004 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 34 89 27 210 370 351 387 68 External debt flows Disbursements 29 78 49 51 75 102 207 179 Long-term external debt 29 74 49 51 75 102 207 179 IMF purchases 0 4 0 0 0 0 0 0 Principal repayments 11 29 25 23 25 27 28 29 Long-term external debt 11 29 25 23 24 25 26 27 IMF repurchases 0 0 0 0 1 2 2 3 Net flows 2 49 24 28 50 76 179 149 Long-term external debt 18 45 24 28 51 77 182 152 Short-term external debt -16 0 0 0 0 0 0 0 Interest payments 5 7 6 7 7 7 8 11 Long-term external debt 5 7 6 6 7 7 8 11 IMF charges 0 0 0 0 0 0 0 0 Short-term external debt 0 0 0 0 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 33 80 132 192 211 120 112 93 Portfolio equity 0 0 0 2 0 2 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 13.4 15.0 16.1 18.1 19.5 27.3 34.4 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.2 1.0 1.7 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 56.2 54.3 53.4 49.7 48.5 43.1 37.6 31.9 4. Average terms of new commitments Official creditors Interest (%) 2.0 3.5 2.9 1.3 1.8 1.3 0.9 0.8 Maturity (years) 31.3 32.5 38.1 25.7 27.1 24.7 27.4 23.4 Grace period (years) 10.4 8.4 9.0 8.2 6.9 9.4 8.8 7.5 Private creditors Interest (%) 5.7 0.0 0.0 0.0 0.0 1.7 1.7 0.0 Maturity (years) 10.6 0.0 0.0 0.0 0.0 33.0 32.1 0.0 Grace period (years) 2.2 0.0 0.0 0.0 0.0 12.8 12.7 0.0 5. Major economic aggregates Gross national income (GNI) 525 938 1,063 1,300 1,515 1,557 1,586 1,846 Exports of goods, services & prim. income 151 373 491 593 738 589 650 797 Personal transfers & comp. of employees 87 137 137 139 155 137 131 177 Imports of goods, services & prim. income 344 695 863 1,092 1,259 1,149 1,203 1,444 Primary income on FDI 5 11 24 28 38 26 53 28 Current account balance -58 -41 -83 -198 -205 -248 -213 -288 International reserves 28 174 254 364 361 398 382 339 6. Ratios External debt stocks to exports (%) 211.8 128.0 106.7 97.9 84.8 123.3 137.2 128.6 External debt stocks to GNI (%) 60.9 50.9 49.3 44.7 41.3 46.7 56.2 55.5 Debt service to exports (%) 10.7 9.6 6.4 5.0 4.2 5.7 5.5 5.0 Short-term to external debt stocks (%) 1.2 0.2 0.1 0.2 0.2 0.2 0.2 0.1 Multilateral to external debt stocks (%) 72.4 78.8 78.8 78.5 77.2 73.5 67.0 59.5 Reserves to external debt stocks (%) 8.8 36.4 48.5 62.8 57.7 54.8 42.8 33.0 Reserves to imports (months) 1.0 3.0 3.5 4.0 3.4 4.2 3.8 2.8 94 CAPE VERDE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 315 463 510 565 611 700 868 1,004 Public and publicly guaranteed 315 463 510 565 611 700 868 1,004 Official creditors 308 442 492 550 601 693 815 931 Multilateral 232 376 413 456 484 534 598 610 of which: IBRD 0 0 0 0 0 0 0 0 IDA 98 205 236 267 284 286 303 300 Bilateral 76 66 79 94 118 159 218 321 Private creditors 7 22 17 15 10 6 53 73 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 2 2 1 0 0 0 9 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 29 74 49 51 75 102 207 179 Public and publicly guaranteed 29 74 49 51 75 102 207 179 Official creditors 29 65 49 51 75 102 158 153 Multilateral 24 49 30 34 37 59 85 31 of which: IBRD 0 0 0 0 0 0 0 0 IDA 10 27 22 23 21 4 25 2 Bilateral 5 16 19 17 38 44 73 122 Private creditors 0 9 0 0 0 0 50 26 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 0 10 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 11 29 25 23 24 25 26 27 Public and publicly guaranteed 11 29 25 23 24 25 26 27 Official creditors 10 23 19 19 20 21 22 24 Multilateral 6 12 9 10 11 13 15 16 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 1 2 2 3 3 4 4 Bilateral 3 11 10 9 9 8 7 8 Private creditors 2 5 7 4 4 4 3 2 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 1 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 Interest payments 5 7 6 6 7 7 8 11 Public and publicly guaranteed 5 7 6 6 7 7 8 11 Official creditors 4 6 6 6 6 7 8 9 Multilateral 3 4 4 4 5 5 5 6 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1 2 2 2 2 2 2 2 Bilateral 1 2 2 2 2 2 2 3 Private creditors 1 1 0 0 0 0 0 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -9 13 47 56 46 101 165 133 Net flows on external debt 2 49 24 28 50 76 179 149 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 26 40 43 46 46 50 53 55 Interest 14 15 16 15 15 14 14 13 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 4 6 7 7 7 7 7 7 95 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 896.9 1058.3 1049.2 1039.1 1030.7 565.0 579.6 573.0 Long-term external debt 822.1 902.5 893.4 902.4 867.7 321.2 327.9 296.9 Public and publicly guaranteed 822.1 902.5 893.4 902.4 867.7 321.2 327.9 296.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 33.6 49.2 56.1 64.1 77.4 162.1 172.6 172.0 Short-term external debt 41.2 106.6 99.6 72.7 85.6 81.7 79.1 104.1 interest arrears on long-term 26.1 97.6 90.6 72.7 73.6 77.7 77.1 71.1 Memorandum items Principal arrears on long-term 97.7 227.1 218.7 183.5 171.1 168.6 148.6 101.3 Long-term public sector debt 821.0 901.2 892.0 900.7 867.7 321.2 327.9 296.9 Long-term private sector debt 1.0 1.3 1.5 1.6 0.0 0.0 0.0 0.0 Public & publicly guaranteed commitments 28.0 3.7 2.5 3.3 53.0 5.9 56.7 13.7 External debt flows Disbursements 16.1 0.0 10.2 34.9 24.9 44.4 19.3 26.2 Long-term external debt 16.1 0.0 0.0 3.2 1.9 4.8 6.0 26.2 IMF purchases 0.0 0.0 10.2 31.7 23.0 39.6 13.2 0.0 Principal repayments 8.3 5.6 53.0 69.1 19.1 27.7 1.0 0.1 Long-term external debt 7.5 0.7 47.0 42.4 11.3 8.4 1.0 0.1 IMF repurchases 0.8 4.9 6.0 26.7 7.7 19.4 0.0 0.0 Net flows -13.8 -5.6 -42.8 -43.2 17.9 8.7 16.2 57.1 Long-term external debt 8.6 -0.7 -47.0 -39.2 -9.4 -3.6 5.0 26.1 Short-term external debt -21.6 0.0 0.0 -9.0 12.0 -8.0 -2.0 31.0 Interest payments 6.4 1.3 18.3 20.8 6.7 3.6 1.5 0.6 Long-term external debt 4.3 0.2 16.5 19.6 6.1 3.0 1.2 0.2 IMF charges 0.6 0.8 1.5 0.9 0.4 0.5 0.3 0.1 Short-term external debt 1.4 0.3 0.3 0.2 0.2 0.1 0.0 0.3 2. Other non-debt resource inflows Foreign direct investment 0.9 32.4 34.6 56.8 116.6 120.5 91.7 109.2 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 5.7 6.1 7.5 7.1 14.3 13.6 13.6 Japanese yen 0.6 0.5 0.5 0.3 0.4 0.0 0.0 0.0 Pound sterling 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 Swiss franc 2.1 2.5 2.7 2.1 2.2 3.7 4.6 1.3 U.S.dollars 62.1 60.4 58.5 60.7 62.2 52.1 55.9 45.2 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.0 0.0 1.0 1.8 0.0 0.6 0.8 Maturity (years) 39.8 20.0 19.2 32.6 20.4 19.1 24.7 38.9 Grace period (years) 10.3 10.1 10.2 3.1 5.9 10.1 7.8 0.4 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) 946.8 1348.0 1472.9 1685.7 1960.7 1974.4 1981.3 2162.3 Exports of goods, services & prim. income .. .. .. .. .. .. .. .. Personal transfers & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & prim. income .. .. .. .. .. .. .. .. Primary income on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves 133.3 139.2 125.3 82.6 121.8 210.6 181.2 154.5 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 94.7 78.5 71.2 61.6 52.6 28.6 29.3 26.5 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 4.6 10.1 9.5 7.0 8.3 14.5 13.7 18.2 Multilateral to external debt stocks (%) 65.0 59.4 58.3 58.0 55.4 8.8 7.1 6.1 Reserves to external debt stocks (%) 14.9 13.2 11.9 7.9 11.8 37.3 31.3 27.0 Reserves to imports (months) .. .. .. .. .. .. .. .. 96 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 822.1 902.5 893.4 902.4 867.7 321.2 327.9 296.9 Public and publicly guaranteed 822.1 902.5 893.4 902.4 867.7 321.2 327.9 296.9 Official creditors 766.9 845.7 836.4 845.0 810.5 264.1 268.9 269.8 Multilateral 583.3 628.3 612.1 602.5 571.3 49.8 41.3 34.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 391.3 422.7 395.1 402.8 389.9 9.0 13.9 19.0 Bilateral 183.5 217.5 224.3 242.5 239.2 214.4 227.6 235.0 Private creditors 55.2 56.7 57.0 57.3 57.2 57.1 59.0 27.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 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 16.1 0.0 0.0 3.2 1.9 4.8 6.0 26.2 Public and publicly guaranteed 16.1 0.0 0.0 3.2 1.9 4.8 6.0 26.2 Official creditors 16.1 0.0 0.0 3.2 1.9 4.8 6.0 26.2 Multilateral 16.1 0.0 0.0 3.2 1.9 3.8 5.1 7.6 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 12.9 0.0 0.0 3.2 1.9 3.8 5.0 5.2 Bilateral 0.0 0.0 0.0 0.0 0.0 1.0 1.0 18.6 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 7.5 0.7 47.0 42.4 11.3 8.4 1.0 0.1 Public and publicly guaranteed 7.5 0.7 47.0 42.4 11.3 8.4 1.0 0.1 Official creditors 7.4 0.7 47.0 42.4 11.3 8.4 1.0 0.0 Multilateral 6.9 0.7 47.0 42.4 9.5 6.0 0.0 0.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 5.7 0.0 46.7 9.6 3.1 1.7 0.0 0.0 Bilateral 0.5 0.0 0.0 0.0 1.8 2.4 1.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 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 4.3 0.2 16.5 19.6 6.1 3.0 1.2 0.2 Public and publicly guaranteed 4.3 0.2 16.5 19.6 6.1 3.0 1.2 0.2 Official creditors 4.3 0.2 16.5 19.6 6.1 3.0 1.2 0.2 Multilateral 3.4 0.2 16.5 19.6 4.4 2.4 0.1 0.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 3.2 0.0 16.5 3.3 3.1 1.6 0.1 0.1 Bilateral 0.9 0.0 0.0 0.0 1.7 0.7 1.1 0.1 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 8. Debt stock-flow reconciliation Total change in external debt stocks -52.4 -60.8 -9.1 -10.1 -8.5 -465.7 14.6 -6.5 Net flows on external debt -13.8 -5.6 -42.8 -43.2 17.9 8.7 16.2 57.1 9. Debt restructurings Total amount rescheduled 2.9 0.0 0.0 35.5 3.2 23.4 27.7 0.0 Total amount forgiven 0.7 0.0 0.0 5.4 14.1 519.5 22.1 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 6.4 6.8 8.4 10.4 10.4 8.4 8.2 8.8 Interest 1.1 1.2 1.2 1.2 1.1 1.1 1.0 1.0 Private creditors Principal 0.4 0.1 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: Long-term public and publicly guaranteed debt data for 2011 are revised based on reports provided by the country. Short-term debt is based on data from the BIS. Data include the effects of HIPC and MDRI debt relief. 97 CHAD (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 1,101 1,598 1,720 1,812 1,765 1,830 1,816 1,821 Long-term external debt 986 1,494 1,627 1,712 1,705 1,714 1,708 1,710 Public and publicly guaranteed 986 1,494 1,627 1,712 1,705 1,714 1,708 1,710 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 90 93 82 71 55 113 99 91 Short-term external debt 25 11 12 29 4 4 8 19 interest arrears on long-term 10 6 8 6 4 4 7 7 Memorandum items Principal arrears on long-term 52 26 24 22 30 30 40 44 Long-term public sector debt 986 1,494 1,627 1,712 1,705 1,714 1,708 1,710 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 178 139 7 141 15 15 21 52 External debt flows Disbursements 59 116 102 50 97 38 57 55 Long-term external debt 46 110 102 50 97 38 57 55 IMF purchases 14 6 0 0 0 0 0 0 Principal repayments 14 37 40 49 119 55 57 61 Long-term external debt 13 24 24 34 105 43 46 53 IMF repurchases 1 13 16 15 14 13 11 8 Net flows 44 75 61 21 -44 -17 2 5 Long-term external debt 33 85 78 17 -7 -5 12 2 Short-term external debt -2 -3 -1 19 -23 0 1 11 Interest payments 11 17 18 20 19 23 17 17 Long-term external debt 9 16 16 19 18 23 17 17 IMF charges 1 1 1 1 0 0 0 0 Short-term external debt 1 0 0 1 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 115 -99 -279 -69 234 1,105 1,940 1,855 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 3.3 3.8 3.6 3.3 3.3 3.2 3.2 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 58.7 66.1 65.1 64.4 60.2 59.8 58.3 56.9 4. Average terms of new commitments Official creditors Interest (%) 0.7 1.6 0.0 1.3 0.6 5.7 5.1 0.6 Maturity (years) 40.5 23.7 28.6 19.9 22.7 13.9 10.5 44.3 Grace period (years) 10.1 6.5 9.1 6.9 6.0 4.3 2.0 4.8 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 1,368 4,277 4,888 5,817 6,687 6,678 7,850 8,496 Exports of goods, services & prim. income .. .. .. .. .. .. .. .. Personal transfers & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & prim. income .. .. .. .. .. .. .. .. Primary income on FDI .. .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. International reserves 111 226 625 955 1,345 617 632 951 6. Ratios External debt stocks to exports (%) .. .. .. .. .. .. .. .. External debt stocks to GNI (%) 80.5 37.3 35.2 31.1 26.4 27.4 23.1 21.4 Debt service to exports (%) .. .. .. .. .. .. .. .. Short-term to external debt stocks (%) 2.2 0.7 0.7 1.6 0.2 0.2 0.5 1.1 Multilateral to external debt stocks (%) 75.8 83.9 84.3 84.3 83.3 81.0 81.7 81.9 Reserves to external debt stocks (%) 10.1 14.1 36.3 52.7 76.2 33.7 34.8 52.2 Reserves to imports (months) .. .. .. .. .. .. .. .. 98 CHAD (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 986 1,494 1,627 1,712 1,705 1,714 1,708 1,710 Public and publicly guaranteed 986 1,494 1,627 1,712 1,705 1,714 1,708 1,710 Official creditors 971 1,462 1,594 1,679 1,672 1,682 1,679 1,681 Multilateral 834 1,340 1,450 1,527 1,469 1,482 1,483 1,491 of which: IBRD 0 35 30 26 0 0 0 0 IDA 515 864 925 968 905 896 865 845 Bilateral 137 122 144 152 203 200 196 190 Private creditors 15 32 33 33 33 32 30 29 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 46 110 102 50 97 38 57 55 Public and publicly guaranteed 46 110 102 50 97 38 57 55 Official creditors 46 110 102 50 97 38 57 55 Multilateral 36 108 71 39 38 34 56 54 of which: IBRD 0 1 0 0 0 0 0 0 IDA 18 64 31 16 5 3 3 6 Bilateral 10 2 31 12 59 4 2 1 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 13 24 24 34 105 43 46 53 Public and publicly guaranteed 13 24 24 34 105 43 46 53 Official creditors 13 23 24 33 105 42 44 52 Multilateral 10 17 18 28 100 36 38 44 of which: IBRD 0 2 5 5 26 0 0 0 IDA 4 4 5 7 62 17 19 23 Bilateral 3 5 6 5 5 5 6 8 Private creditors 1 1 1 1 0 1 2 1 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 9 16 16 19 18 23 17 17 Public and publicly guaranteed 9 16 16 19 18 23 17 17 Official creditors 9 16 16 18 18 23 17 17 Multilateral 6 14 13 15 15 19 12 13 of which: IBRD 0 1 2 2 1 0 0 0 IDA 3 6 6 7 8 7 6 7 Bilateral 3 2 3 3 3 4 5 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 -9 -57 123 91 -47 65 -14 5 Net flows on external debt 44 75 61 21 -44 -17 2 5 9. Debt restructurings Total amount rescheduled 0 12 0 0 0 0 0 0 Total amount forgiven 0 18 22 5 4 5 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 76 75 84 90 87 87 83 82 Interest 19 18 18 16 15 14 13 12 Private creditors Principal 2 2 2 2 1 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Long-term public and publicly guaranteed debt data for 2011 are World Bank staff estimates. Short-term debt is based on data from the BIS. Data include the effects of HIPC debt relief. 99 CHILE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 37,407 45,571 50,352 56,360 63,911 69,884 81,435 96,245 Long-term external debt 31,076 38,308 38,699 42,602 49,279 54,040 65,308 77,826 Public and publicly guaranteed 5,215 9,123 9,354 9,294 8,764 9,271 13,519 16,354 Private nonguaranteed 25,861 29,184 29,344 33,308 40,515 44,769 51,789 61,472 Use of IMF credit 159 174 183 193 188 1,281 1,258 1,254 Short-term external debt 6,172 7,089 11,470 13,565 14,444 14,563 14,869 17,164 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 0 0 0 0 0 0 0 0 Long-term public sector debt 5,135 9,120 9,342 9,283 8,756 9,265 13,515 16,350 Long-term private sector debt 25,941 29,188 29,357 33,319 40,523 44,775 51,793 61,476 Public & publicly guaranteed commitments 171 995 1,423 894 1,063 1,995 4,397 3,934 External debt flows Disbursements 4,943 9,156 12,626 13,791 18,999 20,959 23,148 25,979 Long-term external debt 4,943 9,156 12,626 13,791 18,999 20,959 23,148 25,979 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 3,940 6,064 12,545 9,743 14,272 16,379 12,287 12,846 Long-term external debt 3,940 6,064 12,545 9,743 14,272 16,379 12,287 12,846 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 2,859 2,730 4,462 6,143 5,607 4,699 11,168 15,428 Long-term external debt 1,004 3,093 81 4,048 4,728 4,580 10,861 13,133 Short-term external debt 1,855 -363 4,381 2,095 879 119 306 2,295 Interest payments 2,242 1,514 1,998 2,155 1,863 1,763 2,224 2,600 Long-term external debt 2,081 1,288 1,653 1,595 1,546 1,454 1,844 2,209 IMF charges 7 5 7 7 2 3 4 1 Short-term external debt 154 221 338 553 315 306 376 390 2. Other non-debt resource inflows Foreign direct investment 4,860 6,984 7,298 12,534 15,150 12,887 15,373 17,299 Portfolio equity -427 1,571 -124 388 1,948 328 1,774 4,477 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 0.9 1.1 1.1 1.1 1.0 0.7 0.5 Japanese yen 5.0 0.4 2.5 2.2 0.0 0.0 0.0 0.0 Pound sterling 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 83.9 98.0 95.8 96.0 98.3 98.5 94.7 94.2 4. Average terms of new commitments Official creditors Interest (%) 1.0 4.2 5.2 5.1 2.9 2.9 1.7 0.5 Maturity (years) 20.0 13.1 13.1 15.7 9.8 12.1 19.6 8.7 Grace period (years) 1.5 4.7 6.0 5.5 5.7 5.6 4.3 5.2 Private creditors Interest (%) 6.8 5.1 5.8 5.6 4.7 4.5 3.2 3.5 Maturity (years) 3.0 19.2 15.7 6.4 5.6 6.2 9.0 8.6 Grace period (years) 3.0 18.2 13.0 5.0 2.2 5.9 9.0 8.2 5. Major economic aggregates Gross national income (GNI) 72,333 112,769 136,308 154,216 166,715 161,463 201,605 234,565 Exports of goods, services & prim. income 24,891 50,853 69,885 83,259 83,010 70,526 90,616 101,481 Personal transfers & comp. of employees 13 13 3 3 3 4 3 3 Imports of goods, services & prim. income 26,346 51,187 66,137 78,930 89,247 68,572 91,862 107,119 Primary income on FDI 2,539 11,416 19,913 22,832 17,430 15,951 21,256 18,887 Current account balance -898 1,449 7,154 7,458 -3,307 3,518 3,269 -3,220 International reserves 15,035 16,929 19,392 16,837 23,072 25,283 27,816 41,932 6. Ratios External debt stocks to exports (%) 150.3 89.6 72.1 67.7 77.0 99.1 89.9 94.8 External debt stocks to GNI (%) 51.7 40.4 36.9 36.5 38.3 43.3 40.4 41.0 Debt service to exports (%) 24.8 14.9 20.8 14.3 19.4 25.7 16.0 15.2 Short-term to external debt stocks (%) 16.5 15.6 22.8 24.1 22.6 20.8 18.3 17.8 Multilateral to external debt stocks (%) 3.8 1.8 1.8 1.6 1.2 1.2 1.0 0.8 Reserves to external debt stocks (%) 40.2 37.1 38.5 29.9 36.1 36.2 34.2 43.6 Reserves to imports (months) 6.8 4.0 3.5 2.6 3.1 4.4 3.6 4.7 100 CHILE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 31,076 38,308 38,699 42,602 49,279 54,040 65,308 77,826 Public and publicly guaranteed 5,215 9,123 9,354 9,294 8,764 9,271 13,519 16,354 Official creditors 1,897 1,089 1,151 1,131 1,003 1,040 1,024 933 Multilateral 1,416 829 898 908 793 848 801 732 of which: IBRD 808 289 346 354 200 215 189 131 IDA 7 4 3 2 2 1 0 0 Bilateral 481 260 252 223 210 192 222 201 Private creditors 3,318 8,034 8,204 8,163 7,761 8,231 12,495 15,421 of which: Bonds 0 5,406 5,938 5,401 4,513 5,413 8,995 11,346 Commercial banks 3,250 2,628 2,266 2,762 3,248 2,818 3,250 3,825 Private nonguaranteed 25,861 29,184 29,344 33,308 40,515 44,769 51,789 61,472 of which: Bonds 6,339 4,761 4,779 3,631 5,399 6,656 10,440 14,028 Disbursements 4,943 9,156 12,626 13,791 18,999 20,959 23,148 25,979 Public and publicly guaranteed 346 1,197 1,192 685 1,034 2,413 4,528 2,588 Official creditors 147 176 112 60 136 109 111 44 Multilateral 113 162 92 47 126 109 51 43 of which: IBRD 48 55 62 14 53 29 32 14 IDA 0 0 0 0 0 0 0 0 Bilateral 34 14 20 13 10 0 60 1 Private creditors 199 1,022 1,079 626 899 2,303 4,417 2,544 of which: Bonds 0 500 650 0 0 900 3,535 2,480 Commercial banks 199 522 429 626 899 1,403 632 64 Private nonguaranteed 4,597 7,959 11,434 13,105 17,965 18,547 18,620 23,391 of which: Bonds 672 700 813 843 1,680 3,045 4,687 7,353 Principal repayments 3,940 6,064 12,545 9,743 14,272 16,379 12,287 12,846 Public and publicly guaranteed 759 1,352 967 733 1,583 1,909 319 1,091 Official creditors 279 369 62 58 261 75 119 132 Multilateral 178 346 24 40 244 55 96 112 of which: IBRD 115 206 5 6 207 14 58 72 IDA 1 1 1 1 1 1 1 0 Bilateral 100 23 38 18 17 21 23 20 Private creditors 480 983 905 675 1,322 1,833 199 958 of which: Bonds 0 422 118 537 888 0 0 50 Commercial banks 479 537 787 138 435 1,833 199 908 Private nonguaranteed 3,181 4,711 11,578 9,010 12,689 14,470 11,968 11,755 of which: Bonds 0 195 765 1,105 1,002 1,799 962 1,920 Interest payments 2,081 1,288 1,653 1,595 1,546 1,454 1,844 2,209 Public and publicly guaranteed 377 458 493 528 528 422 418 549 Official creditors 138 49 49 55 47 40 27 26 Multilateral 112 43 43 50 42 31 23 23 of which: IBRD 70 16 17 20 13 6 2 1 IDA 0 0 0 0 0 0 0 0 Bilateral 26 6 6 5 5 9 4 2 Private creditors 239 409 444 473 481 382 392 523 of which: Bonds 0 299 313 336 249 281 337 488 Commercial banks 234 110 131 136 233 101 55 32 Private nonguaranteed 1,704 829 1,160 1,068 1,018 1,032 1,425 1,660 of which: Bonds 440 347 359 345 326 470 590 776 8. Debt stock-flow reconciliation Total change in external debt stocks 2,434 1,669 4,781 6,008 7,551 5,973 11,551 14,810 Net flows on external debt 2,859 2,730 4,462 6,143 5,607 4,699 11,168 15,428 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 108 126 120 127 126 122 98 87 Interest 23 22 21 21 19 17 15 13 Private creditors Principal 18,351 12,989 11,089 6,843 5,627 3,655 3,951 3,297 Interest 3,305 2,551 1,888 1,502 1,203 980 788 573 101 CHINA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 145,648 283,293 323,117 373,457 380,165 443,155 558,344 685,418 Long-term external debt 132,259 134,688 149,384 169,385 192,612 191,688 200,056 197,776 Public and publicly guaranteed 94,470 84,196 85,718 87,101 90,838 94,038 89,209 91,664 Private nonguaranteed 37,789 50,492 63,666 82,284 101,774 97,650 110,847 106,112 Use of IMF credit 309 338 356 374 365 10,958 10,764 10,731 Short-term external debt 13,080 148,267 173,377 203,698 187,188 240,509 347,524 476,911 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 0 0 0 0 0 0 0 0 Long-term public sector debt 94,470 83,937 85,474 86,929 90,680 93,896 89,080 92,148 Long-term private sector debt 37,789 50,751 63,910 82,456 101,932 97,793 110,976 105,628 Public & publicly guaranteed commitments 10,702 10,233 6,275 6,927 6,010 7,238 11,758 15,355 External debt flows Disbursements 19,006 29,228 26,524 36,907 38,188 23,648 42,423 36,884 Long-term external debt 19,006 29,228 26,524 36,907 38,188 23,648 42,423 36,884 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 19,362 20,936 18,120 20,405 23,959 33,448 29,511 39,320 Long-term external debt 19,362 20,936 18,120 20,405 23,959 33,448 29,511 39,320 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -2,457 40,789 33,514 46,823 -2,280 43,521 119,928 126,951 Long-term external debt -357 8,292 8,404 16,502 14,230 -9,800 12,913 -2,436 Short-term external debt -2,100 32,497 25,110 30,321 -16,510 53,321 107,015 129,387 Interest payments 7,245 6,530 9,375 11,418 9,301 6,355 34,128 38,729 Long-term external debt 6,064 3,218 3,820 5,464 4,812 3,122 6,291 7,916 IMF charges 14 10 14 13 3 25 34 12 Short-term external debt 1,168 3,302 5,541 5,942 4,486 3,208 27,802 30,802 2. Other non-debt resource inflows Foreign direct investment 38,399 104,109 124,082 156,249 171,535 131,057 243,703 220,143 Portfolio equity 6,912 20,569 42,861 18,478 8,464 29,117 31,357 5,308 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 8.3 8.9 8.4 6.8 6.4 6.9 6.1 Japanese yen 17.0 13.6 12.4 8.5 9.0 7.8 7.4 6.0 Pound sterling 0.1 0.1 0.1 0.1 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 71.3 74.1 75.3 80.2 81.7 83.7 83.8 86.5 4. Average terms of new commitments Official creditors Interest (%) 7.2 4.3 5.4 5.4 3.5 1.7 1.9 3.0 Maturity (years) 21.1 22.5 24.3 23.2 24.3 26.6 25.7 25.9 Grace period (years) 4.9 5.5 5.7 5.4 5.8 5.8 6.2 6.0 Private creditors Interest (%) 5.9 4.6 5.0 4.1 4.6 5.0 10.5 17.9 Maturity (years) 17.0 10.4 14.4 9.6 13.6 14.4 24.5 34.5 Grace period (years) 3.0 5.4 0.9 2.1 1.1 0.9 4.3 23.8 5. Major economic aggregates Gross national income (GNI) 1,183,809 2,240,803 2,707,551 3,501,856 4,539,527 4,998,556 5,904,632 7,306,634 Exports of goods, services & prim. income 292,111 809,731 1,028,022 1,338,833 1,605,353 1,368,583 1,790,140 2,141,686 Personal transfers & comp. of employees 5,237 8,832 11,150 17,513 22,694 22,903 33,440 40,483 Imports of goods, services & prim. income 277,904 701,218 824,246 1,022,752 1,227,941 1,156,985 1,593,015 1,965,233 Primary income on FDI 20,198 47,566 49,458 61,893 72,637 105,948 159,637 145,241 Current account balance 20,518 132,378 231,843 353,183 420,569 243,257 237,810 201,714 International reserves 168,278 821,514 1,068,493 1,530,282 1,949,260 2,416,044 2,866,079 3,202,789 6. Ratios External debt stocks to exports (%) 49.9 35.0 31.4 27.9 23.7 32.4 31.2 32.0 External debt stocks to GNI (%) 12.3 12.6 11.9 10.7 8.4 8.9 9.5 9.4 Debt service to exports (%) 9.1 3.4 2.7 2.4 2.1 2.9 3.6 3.6 Short-term to external debt stocks (%) 9.0 52.3 53.7 54.5 49.2 54.3 62.2 69.6 Multilateral to external debt stocks (%) 17.7 9.3 8.6 7.8 8.1 7.5 6.3 5.1 Reserves to external debt stocks (%) 115.5 290.0 330.7 409.8 512.7 545.2 513.3 467.3 Reserves to imports (months) 7.3 14.1 15.6 18.0 19.0 25.1 21.6 19.6 102 CHINA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 132,259 134,688 149,384 169,385 192,612 191,688 200,056 197,776 Public and publicly guaranteed 94,470 84,196 85,718 87,101 90,838 94,038 89,209 91,664 Official creditors 50,374 52,421 54,334 58,323 63,349 68,358 66,233 66,840 Multilateral 25,811 26,413 27,738 29,258 30,655 33,207 35,120 34,638 of which: IBRD 11,118 11,140 11,415 11,762 12,464 12,756 12,962 13,021 IDA 8,771 9,741 9,997 10,151 9,786 9,521 9,000 7,489 Bilateral 24,563 26,008 26,596 29,066 32,693 35,151 31,113 32,202 Private creditors 44,096 31,775 31,384 28,778 27,489 25,681 22,976 24,823 of which: Bonds 11,371 16,039 16,342 16,526 15,728 11,626 10,273 11,545 Commercial banks 10,619 3,247 3,763 3,030 2,868 2,735 2,202 2,456 Private nonguaranteed 37,789 50,492 63,666 82,284 101,774 97,650 110,847 106,112 of which: Bonds 1,068 3,574 5,279 6,018 5,970 7,020 17,976 30,025 Disbursements 19,006 29,228 26,524 36,907 38,188 23,648 42,423 36,884 Public and publicly guaranteed 11,924 9,776 6,278 7,130 5,449 6,481 10,125 15,549 Official creditors 5,790 2,170 3,588 3,403 3,893 3,310 4,348 6,481 Multilateral 3,303 2,010 2,153 2,425 2,870 2,657 2,623 2,841 of which: IBRD 1,528 1,061 1,134 1,194 1,604 1,290 1,282 1,261 IDA 379 70 34 14 9 1 0 0 Bilateral 2,487 159 1,434 978 1,023 653 1,725 3,640 Private creditors 6,133 7,606 2,690 3,727 1,556 3,171 5,777 9,068 of which: Bonds 848 4,208 0 1,456 0 0 0 3,848 Commercial banks 131 2,161 17 215 27 46 673 655 Private nonguaranteed 7,082 19,452 20,246 29,777 32,739 17,167 32,298 21,335 of which: Bonds 390 1,622 1,945 740 0 925 11,821 12,950 Principal repayments 19,362 20,936 18,120 20,405 23,959 33,448 29,511 39,320 Public and publicly guaranteed 10,235 6,659 6,520 5,342 6,750 6,473 9,802 13,250 Official creditors 4,270 1,413 2,684 2,949 2,809 2,594 4,614 6,059 Multilateral 1,400 1,195 1,333 1,397 1,520 1,602 1,795 3,293 of which: IBRD 578 787 901 908 971 992 1,086 1,207 IDA 66 217 243 276 309 331 349 1,539 Bilateral 2,870 217 1,351 1,552 1,289 993 2,819 2,767 Private creditors 5,965 5,246 3,836 2,393 3,940 3,878 5,188 7,191 of which: Bonds 443 550 0 0 742 500 431 2,555 Commercial banks 2,016 1,936 149 676 264 200 372 395 Private nonguaranteed 9,127 14,277 11,600 15,063 17,209 26,976 19,708 26,069 of which: Bonds 534 370 240 0 350 464 277 900 Interest payments 6,064 3,218 3,820 5,464 4,812 3,122 6,291 7,916 Public and publicly guaranteed 4,140 2,201 2,306 3,237 2,591 2,108 2,626 2,797 Official creditors 2,386 1,375 1,429 1,701 1,407 1,090 1,844 1,832 Multilateral 1,518 680 935 1,105 1,009 733 522 637 of which: IBRD 713 351 542 653 553 363 143 132 IDA 65 79 74 74 79 69 67 72 Bilateral 867 695 493 596 398 358 1,321 1,195 Private creditors 1,754 826 877 1,537 1,184 1,017 783 964 of which: Bonds 521 430 502 778 497 557 393 532 Commercial banks 222 71 80 182 33 42 32 41 Private nonguaranteed 1,924 1,017 1,514 2,227 2,220 1,015 3,665 5,119 of which: Bonds 93 248 343 445 431 445 672 1,990 8. Debt stock-flow reconciliation Total change in external debt stocks -2,916 37,383 39,824 50,340 6,707 62,990 115,189 127,074 Net flows on external debt -2,457 40,789 33,514 46,823 -2,280 43,521 119,928 126,951 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 7,376 6,873 6,756 6,521 6,327 6,268 6,014 5,822 Interest 2,072 1,850 1,632 1,425 1,230 1,038 849 662 Private creditors Principal 35,966 22,916 16,456 17,156 14,273 7,149 6,189 561 Interest 5,658 4,587 3,856 3,039 1,914 1,242 847 610 Notes: Long-term public and publicly guaranteed, long-term private nonguaranteed, and short-term debt data for 2011 are World Bank staff estimates based on creditors and market data. 103 COLOMBIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 33,231 37,197 37,639 43,421 46,271 53,054 64,124 76,918 Long-term external debt 30,211 30,858 32,704 38,079 40,462 47,884 54,778 64,968 Public and publicly guaranteed 19,952 21,869 24,163 26,967 28,650 35,135 36,700 39,040 Private nonguaranteed 10,259 8,989 8,541 11,112 11,812 12,749 18,078 25,928 Use of IMF credit 149 163 172 181 176 1,157 1,137 1,134 Short-term external debt 2,871 6,176 4,763 5,161 5,633 4,013 8,209 10,816 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 8 0 0 0 0 0 0 0 Long-term public sector debt 19,951 21,868 24,162 26,966 28,173 34,608 36,197 38,691 Long-term private sector debt 10,261 8,990 8,542 11,113 12,289 13,276 18,581 26,277 Public & publicly guaranteed commitments 3,782 4,875 4,916 4,589 5,098 7,971 3,167 4,032 External debt flows Disbursements 3,753 6,518 8,944 8,805 7,086 13,146 12,840 16,310 Long-term external debt 3,753 6,518 8,944 8,805 7,086 13,146 12,840 16,310 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 2,890 7,276 7,641 5,463 4,745 5,784 6,436 6,400 Long-term external debt 2,890 7,276 7,641 5,463 4,745 5,784 6,436 6,400 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -231 298 -111 3,740 2,813 5,742 10,600 12,517 Long-term external debt 863 -758 1,303 3,342 2,341 7,362 6,404 9,910 Short-term external debt -1,094 1,056 -1,413 398 472 -1,620 4,196 2,607 Interest payments 2,130 2,772 2,524 2,948 2,990 2,886 3,214 3,696 Long-term external debt 1,952 2,513 2,297 2,698 2,724 2,694 2,824 3,187 IMF charges 6 5 7 6 1 3 4 1 Short-term external debt 172 254 220 244 265 189 386 508 2. Other non-debt resource inflows Foreign direct investment 2,436 10,252 6,656 9,487 10,182 7,137 6,899 13,234 Portfolio equity 17 86 -30 790 -86 67 1,351 1,985 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 4.3 3.6 3.5 1.4 1.1 1.0 0.1 Japanese yen 3.8 1.7 1.4 1.1 1.1 2.2 2.3 2.3 Pound sterling 0.8 0.8 0.8 0.8 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 72.3 84.3 87.4 89.3 93.4 94.1 94.8 96.3 4. Average terms of new commitments Official creditors Interest (%) 8.8 5.1 5.5 5.7 3.4 1.6 1.7 0.9 Maturity (years) 12.1 15.9 17.7 12.3 23.2 23.9 22.0 17.3 Grace period (years) 3.1 6.0 5.3 4.8 7.1 7.0 5.9 9.0 Private creditors Interest (%) 7.6 8.0 7.5 9.2 6.8 6.6 7.5 4.9 Maturity (years) 10.3 11.5 18.3 13.6 14.5 14.0 12.0 11.4 Grace period (years) 7.5 10.2 17.9 13.4 13.7 13.6 11.2 11.1 5. Major economic aggregates Gross national income (GNI) 98,048 141,064 156,805 199,659 234,306 226,816 276,820 316,465 Exports of goods, services & prim. income 16,850 25,289 29,816 35,844 44,349 39,427 46,463 64,668 Personal transfers & comp. of employees 1,610 3,346 3,928 4,523 4,884 4,180 4,058 4,205 Imports of goods, services & prim. income 17,728 31,257 37,547 47,050 56,561 49,000 59,698 79,595 Primary income on FDI 655 3,565 4,591 6,598 8,663 7,628 9,792 14,111 Current account balance 795 -1,886 -2,989 -5,977 -6,699 -4,960 -8,760 -9,980 International reserves 8,916 14,787 15,296 20,767 23,479 24,748 27,766 31,386 6. Ratios External debt stocks to exports (%) 197.2 147.1 126.2 121.1 104.3 134.6 138.0 118.9 External debt stocks to GNI (%) 33.9 26.4 24.0 21.7 19.7 23.4 23.2 24.3 Debt service to exports (%) 29.8 39.7 34.1 23.5 17.4 22.0 20.8 15.6 Short-term to external debt stocks (%) 8.6 16.6 12.7 11.9 12.2 7.6 12.8 14.1 Multilateral to external debt stocks (%) 17.3 24.6 27.8 25.3 27.9 27.4 24.6 20.9 Reserves to external debt stocks (%) 26.8 39.8 40.6 47.8 50.7 46.6 43.3 40.8 Reserves to imports (months) 6.0 5.7 4.9 5.3 5.0 6.1 5.6 4.7 104 COLOMBIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 30,211 30,858 32,704 38,079 40,462 47,884 54,778 64,968 Public and publicly guaranteed 19,952 21,869 24,163 26,967 28,650 35,135 36,700 39,040 Official creditors 6,868 9,862 11,079 11,541 13,408 14,990 16,151 16,580 Multilateral 5,761 9,152 10,466 10,989 12,907 14,557 15,760 16,072 of which: IBRD 1,920 3,896 4,563 4,756 5,438 6,570 7,504 7,583 IDA 7 4 3 2 2 1 0 0 Bilateral 1,107 710 613 552 502 433 391 508 Private creditors 13,084 12,007 13,084 15,427 15,242 20,145 20,549 22,460 of which: Bonds 8,201 10,927 12,162 12,354 12,280 17,159 17,686 19,880 Commercial banks 4,252 824 777 2,243 2,224 2,212 2,085 1,800 Private nonguaranteed 10,259 8,989 8,541 11,112 11,812 12,749 18,078 25,928 of which: Bonds 762 370 540 809 809 2,709 3,329 6,049 Disbursements 3,753 6,518 8,944 8,805 7,086 13,146 12,840 16,310 Public and publicly guaranteed 2,889 4,397 5,579 4,439 3,854 8,105 3,499 4,471 Official creditors 610 1,469 2,238 1,583 2,558 2,413 2,124 1,459 Multilateral 513 1,469 2,220 1,582 2,537 2,398 2,123 1,308 of which: IBRD 266 705 942 564 847 1,331 1,279 380 IDA 0 0 0 0 0 0 0 0 Bilateral 97 0 18 2 21 15 1 152 Private creditors 2,279 2,928 3,341 2,856 1,296 5,691 1,375 3,012 of which: Bonds 1,804 2,304 2,696 1,293 1,000 5,491 1,335 2,611 Commercial banks 469 616 645 1,562 296 200 40 401 Private nonguaranteed 865 2,121 3,364 4,366 3,232 5,041 9,340 11,839 of which: Bonds 0 0 170 469 0 1,900 620 2,720 Principal repayments 2,890 7,276 7,641 5,463 4,745 5,784 6,436 6,400 Public and publicly guaranteed 2,058 4,584 3,735 2,736 2,040 1,658 2,188 2,207 Official creditors 547 2,096 1,049 1,237 753 808 986 1,025 Multilateral 451 1,985 919 1,161 666 722 944 990 of which: IBRD 242 218 259 432 158 216 342 296 IDA 1 1 1 1 1 1 1 0 Bilateral 96 111 131 76 87 87 42 35 Private creditors 1,511 2,488 2,686 1,499 1,287 850 1,202 1,183 of which: Bonds 469 1,723 1,879 1,353 953 623 983 481 Commercial banks 838 680 693 101 315 212 204 686 Private nonguaranteed 832 2,692 3,906 2,727 2,705 4,126 4,248 4,193 of which: Bonds 110 0 0 200 0 0 0 0 Interest payments 1,952 2,513 2,297 2,698 2,724 2,694 2,824 3,187 Public and publicly guaranteed 1,334 1,876 1,590 1,898 2,068 1,977 2,118 2,087 Official creditors 461 502 519 631 617 574 540 516 Multilateral 414 477 499 612 601 561 530 507 of which: IBRD 126 174 210 256 241 242 249 250 IDA 0 0 0 0 0 0 0 0 Bilateral 47 25 20 19 16 13 10 9 Private creditors 873 1,374 1,072 1,267 1,451 1,403 1,577 1,571 of which: Bonds 515 1,284 1,005 1,058 1,112 1,073 1,282 1,315 Commercial banks 298 70 53 49 184 170 125 87 Private nonguaranteed 618 637 707 800 656 718 707 1,100 of which: Bonds 84 36 43 75 68 129 221 308 8. Debt stock-flow reconciliation Total change in external debt stocks -538 -56 441 5,782 2,850 6,783 11,070 12,794 Net flows on external debt -231 298 -111 3,740 2,813 5,742 10,600 12,517 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 1,110 1,077 1,333 1,212 1,182 1,108 1,227 939 Interest 358 340 313 284 257 230 205 180 Private creditors Principal 4,903 3,509 4,198 6,918 2,367 4,381 633 6,539 Interest 2,758 2,517 2,392 2,178 1,835 1,685 1,453 1,294 105 COMOROS (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 226.7 280.8 284.8 289.2 278.8 288.4 280.6 277.9 Long-term external debt 204.0 255.3 257.5 276.5 267.4 260.2 250.7 245.5 Public and publicly guaranteed 204.0 255.3 257.5 276.5 267.4 260.2 250.7 245.5 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 2.4 1.0 1.1 1.1 6.2 23.4 25.4 27.7 Short-term external debt 20.3 24.5 26.2 11.6 5.2 4.7 4.4 4.7 interest arrears on long-term 11.3 21.5 22.2 7.6 5.2 4.7 4.4 4.7 Memorandum items Principal arrears on long-term 46.1 63.4 67.5 26.2 24.0 21.2 16.6 16.7 Long-term public sector debt 204.0 255.3 257.5 276.5 267.4 260.2 250.7 245.5 Long-term private sector debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public & publicly guaranteed commitments 0.0 0.6 0.0 0.0 0.0 0.0 31.8 0.0 External debt flows Disbursements 2.1 3.3 3.0 4.8 6.7 6.9 2.4 2.5 Long-term external debt 2.1 3.3 3.0 4.8 1.4 0.3 0.0 0.0 IMF purchases 0.0 0.0 0.0 0.0 5.3 6.5 2.4 2.5 Principal repayments 1.8 2.6 2.4 12.8 8.1 8.9 3.1 2.2 Long-term external debt 1.2 2.6 2.4 12.8 8.1 7.2 3.1 2.2 IMF repurchases 0.6 0.0 0.0 0.0 0.0 1.7 0.0 0.0 Net flows 2.3 0.7 1.6 -8.0 -5.5 -2.1 -0.7 0.2 Long-term external debt 0.9 0.7 0.6 -8.0 -6.7 -6.9 -3.1 -2.2 Short-term external debt 2.0 0.0 1.0 0.0 -4.0 0.0 0.0 0.0 Interest payments 1.5 1.5 1.4 13.4 4.2 2.9 1.2 1.7 Long-term external debt 0.8 1.3 1.2 13.1 4.2 2.9 1.1 1.7 IMF charges 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 Short-term external debt 0.6 0.2 0.2 0.2 0.0 0.0 0.0 0.0 2. Other non-debt resource inflows Foreign direct investment 0.1 0.6 0.8 7.7 4.6 13.8 3.9 6.8 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 12.5 12.4 11.7 11.6 11.6 11.6 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 32.4 41.1 41.8 43.1 43.7 44.3 45.0 45.0 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 39.7 0.0 0.0 0.0 0.0 25.8 0.0 Grace period (years) 0.0 10.2 0.0 0.0 0.0 0.0 5.3 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 202.2 385.9 403.6 466.9 530.3 534.6 538.8 609.7 Exports of goods, services & prim. income .. 59.5 63.5 69.7 81.1 79.7 .. .. Personal transfers & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & prim. income .. 138.3 155.7 174.7 254.8 245.4 .. .. Primary income on FDI .. .. .. .. .. .. .. .. Current account balance .. -26.8 -22.5 -29.5 -68.8 -45.9 .. .. International reserves 43.2 85.8 93.5 117.2 112.2 150.3 145.3 155.2 6. Ratios External debt stocks to exports (%) .. 471.9 448.4 415.2 343.7 361.8 .. .. External debt stocks to GNI (%) 112.1 72.8 70.6 61.9 52.6 53.9 52.1 45.6 Debt service to exports (%) .. 6.8 5.9 37.6 15.2 14.9 .. .. Short-term to external debt stocks (%) 9.0 8.7 9.2 4.0 1.9 1.6 1.6 1.7 Multilateral to external debt stocks (%) 73.2 73.8 76.2 78.9 78.7 74.4 72.7 71.4 Reserves to external debt stocks (%) 19.1 30.6 32.8 40.5 40.2 52.1 51.8 55.8 Reserves to imports (months) .. 7.4 7.2 8.0 5.3 7.3 .. .. 106 COMOROS (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 204.0 255.3 257.5 276.5 267.4 260.2 250.7 245.5 Public and publicly guaranteed 204.0 255.3 257.5 276.5 267.4 260.2 250.7 245.5 Official creditors 204.0 255.3 257.5 276.5 267.4 260.2 250.7 245.5 Multilateral 165.9 207.3 216.9 228.1 219.4 214.6 203.8 198.6 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 70.8 111.1 117.1 124.4 122.3 120.4 115.5 112.0 Bilateral 38.1 48.0 40.6 48.4 48.0 45.6 46.9 46.9 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 Disbursements 2.1 3.3 3.0 4.8 1.4 0.3 0.0 0.0 Public and publicly guaranteed 2.1 3.3 3.0 4.8 1.4 0.3 0.0 0.0 Official creditors 2.1 3.3 3.0 4.8 1.4 0.3 0.0 0.0 Multilateral 2.1 3.3 3.0 4.8 1.4 0.3 0.0 0.0 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.1 2.7 3.0 4.8 1.4 0.3 0.0 0.0 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 Principal repayments 1.2 2.6 2.4 12.8 8.1 7.2 3.1 2.2 Public and publicly guaranteed 1.2 2.6 2.4 12.8 8.1 7.2 3.1 2.2 Official creditors 1.2 2.6 2.4 12.8 8.1 7.2 3.1 2.2 Multilateral 1.2 2.6 2.4 12.8 8.1 7.2 3.1 2.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.8 2.0 2.0 2.3 2.6 3.1 1.7 0.7 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 0.8 1.3 1.2 13.1 4.2 2.9 1.1 1.7 Public and publicly guaranteed 0.8 1.3 1.2 13.1 4.2 2.9 1.1 1.7 Official creditors 0.8 1.3 1.2 13.1 4.2 2.9 1.1 1.7 Multilateral 0.8 1.3 1.2 12.9 3.9 2.6 1.1 1.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.8 0.9 0.9 0.9 0.8 1.1 0.7 0.8 Bilateral 0.0 0.0 0.0 0.2 0.3 0.3 0.0 0.4 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks -2.1 -15.6 4.0 4.5 -10.4 9.5 -7.8 -2.6 Net flows on external debt 2.3 0.7 1.6 -8.0 -5.5 -2.1 -0.7 0.2 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 68.6 0.0 0.0 28.9 0.0 Total amount forgiven 0.0 0.0 0.0 0.0 0.0 0.0 1.7 2.7 Debt buyback 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 7.4 6.6 6.8 7.3 8.9 9.0 10.0 10.3 Interest 1.6 1.6 1.5 1.5 1.5 1.4 1.4 1.3 Private creditors Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Notes: Data include the effects of Paris Club debt restructuring agreements signed in 2010 and HIPC debt relief. 107 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 11,805 10,715 11,357 12,485 12,336 13,097 6,204 5,448 Long-term external debt 7,880 9,403 9,878 10,918 10,876 10,893 4,613 3,940 Public and publicly guaranteed 7,880 9,403 9,878 10,918 10,876 10,893 4,613 3,940 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 503 914 962 945 787 1,601 1,110 1,258 Short-term external debt 3,421 397 517 622 673 603 481 250 interest arrears on long-term 3,042 359 375 442 467 489 267 73 Memorandum items Principal arrears on long-term 4,949 1,177 1,257 1,511 1,662 2,227 680 123 Long-term public sector debt 7,867 9,403 9,878 10,918 10,876 10,893 4,613 3,940 Long-term private sector debt 13 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 0 45 45 0 35 11 77 818 External debt flows Disbursements 0 288 183 116 110 413 153 233 Long-term external debt 0 249 183 116 110 131 78 77 IMF purchases 0 39 0 0 0 282 76 156 Principal repayments 0 112 142 219 307 376 145 130 Long-term external debt 0 112 142 155 170 226 88 130 IMF repurchases 0 0 0 64 137 150 57 0 Net flows 20 95 145 -65 -171 -55 108 66 Long-term external debt 0 137 41 -39 -60 -94 -11 -53 Short-term external debt 20 -81 104 38 26 -92 100 -37 Interest payments 30 106 148 282 286 249 129 123 Long-term external debt 0 97 134 266 275 242 125 120 IMF charges 5 6 9 9 5 6 3 1 Short-term external debt 25 3 5 6 6 2 2 2 2. Other non-debt resource inflows Foreign direct investment 72 167 238 1,794 1,673 -278 2,729 1,596 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 30.1 31.4 31.0 28.9 29.3 8.0 2.9 Japanese yen 4.8 7.3 6.8 6.3 7.9 7.7 0.0 0.0 Pound sterling 1.1 1.2 1.3 1.2 0.9 1.0 0.1 0.0 Swiss franc 0.2 0.3 0.3 0.3 0.3 0.2 0.1 0.0 U.S.dollars 44.6 45.8 45.0 41.7 41.9 41.4 44.5 52.7 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.5 2.2 0.0 0.0 1.0 1.5 1.2 Maturity (years) 0.0 30.3 27.8 0.0 6.6 34.3 23.2 17.1 Grace period (years) 0.0 6.7 1.7 0.0 2.1 11.6 7.2 3.5 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 1.3 0.0 0.0 0.0 5.9 0.0 Grace period (years) 0.0 0.0 0.2 0.0 0.0 0.0 0.4 0.0 5. Major economic aggregates Gross national income (GNI) 3,918 6,684 8,354 9,380 10,345 10,418 12,199 14,375 Exports of goods, services & prim. income .. 2,756 3,155 6,566 7,716 5,047 8,915 10,379 Personal transfers & comp. of employees .. .. .. .. .. .. .. .. Imports of goods, services & prim. income .. 3,892 3,829 6,901 8,863 7,571 11,931 13,071 Primary income on FDI .. .. .. .. .. .. 131 .. Current account balance .. -389 48 527 -151 -1,123 -2,174 -1,281 International reserves 83 131 155 181 78 1,035 1,300 1,268 6. Ratios External debt stocks to exports (%) .. 388.8 359.9 190.1 159.9 259.5 69.6 52.5 External debt stocks to GNI (%) 301.3 160.3 135.9 133.1 119.2 125.7 50.9 37.9 Debt service to exports (%) .. 7.9 9.2 7.6 7.7 12.4 3.1 2.4 Short-term to external debt stocks (%) 29.0 3.7 4.5 5.0 5.5 4.6 7.8 4.6 Multilateral to external debt stocks (%) 18.3 28.5 28.9 32.5 33.7 32.1 42.0 44.3 Reserves to external debt stocks (%) 0.7 1.2 1.4 1.4 0.6 7.9 20.9 23.3 Reserves to imports (months) .. 0.4 0.5 0.3 0.1 1.6 1.3 1.2 108 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 7,880 9,403 9,878 10,918 10,876 10,893 4,613 3,940 Public and publicly guaranteed 7,880 9,403 9,878 10,918 10,876 10,893 4,613 3,940 Official creditors 7,384 9,033 9,512 10,561 10,524 10,561 4,487 3,923 Multilateral 2,164 3,050 3,282 4,058 4,151 4,205 2,604 2,411 of which: IBRD 81 0 0 0 0 0 0 0 IDA 1,188 2,050 2,251 2,402 2,437 2,497 849 887 Bilateral 5,220 5,983 6,230 6,503 6,373 6,356 1,883 1,512 Private creditors 496 370 367 357 351 332 126 16 of which: Bonds 3 1 1 0 0 0 0 0 Commercial banks 81 1 1 1 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 0 249 183 116 110 131 78 77 Public and publicly guaranteed 0 249 183 116 110 131 78 77 Official creditors 0 249 183 115 110 131 58 77 Multilateral 0 249 143 105 100 121 56 62 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 226 138 99 92 85 19 43 Bilateral 0 0 39 10 10 10 2 15 Private creditors 0 0 0 1 0 0 20 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 0 112 142 155 170 226 88 130 Public and publicly guaranteed 0 112 142 155 170 226 88 130 Official creditors 0 110 136 150 163 205 84 127 Multilateral 0 11 19 40 58 69 56 122 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 0 1 1 3 7 1 0 Bilateral 0 98 116 111 105 136 28 6 Private creditors 0 2 6 5 7 21 4 3 of which: Bonds 0 1 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 0 97 134 266 275 242 125 120 Public and publicly guaranteed 0 97 134 266 275 242 125 120 Official creditors 0 95 132 264 272 240 124 120 Multilateral 0 52 62 113 126 125 120 115 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 12 12 14 15 16 12 7 Bilateral 0 43 70 151 145 115 4 5 Private creditors 0 1 2 2 3 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 8. Debt stock-flow reconciliation Total change in external debt stocks -362 -843 643 1,128 -149 761 -6,893 -756 Net flows on external debt 20 95 145 -65 -171 -55 108 66 9. Debt restructurings Total amount rescheduled 0 34 14 0 0 0 1,189 0 Total amount forgiven 0 85 37 40 48 37 6,653 244 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 222 236 256 258 256 296 235 235 Interest 104 105 103 99 95 90 86 82 Private creditors Principal 3 3 3 3 3 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement and MDRI and HIPC debt relief. 109 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 4,865 6,258 6,685 5,788 5,991 5,224 2,618 2,523 Long-term external debt 3,735 5,471 5,824 5,331 5,531 4,852 2,218 2,157 Public and publicly guaranteed 3,735 5,471 5,824 5,331 5,531 4,852 2,218 2,157 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 54 40 50 53 53 168 150 155 Short-term external debt 1,076 747 811 404 407 204 251 211 interest arrears on long-term 655 736 749 299 270 137 134 117 Memorandum items Principal arrears on long-term 1,759 2,579 2,639 1,092 1,058 512 412 368 Long-term public sector debt 3,735 5,471 5,824 5,331 5,531 4,852 2,218 2,157 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 24 603 17 10 13 394 79 313 External debt flows Disbursements 15 195 163 28 21 10 506 214 Long-term external debt 1 183 152 28 19 7 504 208 IMF purchases 14 12 12 0 2 4 2 6 Principal repayments 6 77 54 74 107 92 86 77 Long-term external debt 6 65 50 74 107 92 86 77 IMF repurchases 0 12 4 0 0 0 0 0 Net flows -52 128 161 -3 -54 -151 469 114 Long-term external debt -5 118 102 -46 -88 -85 418 131 Short-term external debt -61 11 51 43 32 -70 50 -23 Interest payments 39 35 34 35 65 75 28 25 Long-term external debt 7 34 31 29 62 73 27 24 IMF charges 1 1 1 1 0 0 0 0 Short-term external debt 30 0 2 5 3 1 1 2 2. Other non-debt resource inflows Foreign direct investment 166 801 1,488 2,638 2,526 1,862 2,209 2,931 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 36.7 36.8 42.8 41.2 43.3 7.2 7.0 Japanese yen 0.2 0.1 0.1 0.2 0.2 0.0 0.0 0.0 Pound sterling 4.8 5.2 6.3 6.2 4.4 5.4 0.0 0.0 Swiss franc 0.3 0.2 0.2 0.3 0.3 0.3 0.1 0.1 U.S.dollars 29.5 52.0 50.7 43.2 47.7 44.5 83.1 82.4 4. Average terms of new commitments Official creditors Interest (%) 2.0 0.3 2.4 1.0 2.8 0.9 3.2 1.5 Maturity (years) 15.0 17.1 39.5 19.7 19.5 19.5 16.0 20.3 Grace period (years) 7.0 5.1 10.4 5.0 5.0 5.2 6.1 4.7 Private creditors Interest (%) 0.0 0.0 0.0 0.0 4.0 0.0 4.0 2.4 Maturity (years) 0.0 0.0 0.0 0.0 9.8 0.0 7.8 3.2 Grace period (years) 0.0 0.0 0.0 0.0 0.3 0.0 0.3 0.7 5. Major economic aggregates Gross national income (GNI) 2,275 4,032 5,105 5,774 8,768 6,979 9,024 10,923 Exports of goods, services & prim. income 2,642 4,983 6,352 6,151 .. .. .. .. Personal transfers & comp. of employees 10 11 13 15 .. .. .. .. Imports of goods, services & prim. income 2,013 4,318 6,202 8,294 .. .. .. .. Primary income on FDI 466 1,296 1,403 1,651 .. .. .. .. Current account balance 648 696 124 -2,181 .. .. .. .. International reserves 222 732 1,841 2,174 3,872 3,806 4,447 5,641 6. Ratios External debt stocks to exports (%) 184.1 125.6 105.3 94.1 .. .. .. .. External debt stocks to GNI (%) 213.8 155.2 130.9 100.2 68.3 74.9 29.0 23.1 Debt service to exports (%) 1.7 2.3 1.4 1.8 .. .. .. .. Short-term to external debt stocks (%) 22.1 11.9 12.1 7.0 6.8 3.9 9.6 8.4 Multilateral to external debt stocks (%) 10.3 8.2 7.7 8.6 7.4 8.3 6.6 6.4 Reserves to external debt stocks (%) 4.6 11.7 27.5 37.6 64.6 72.9 169.9 223.6 Reserves to imports (months) 1.3 2.0 3.6 3.1 .. .. .. .. 110 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 3,735 5,471 5,824 5,331 5,531 4,852 2,218 2,157 Public and publicly guaranteed 3,735 5,471 5,824 5,331 5,531 4,852 2,218 2,157 Official creditors 2,920 3,293 3,608 3,863 4,117 3,831 1,220 1,140 Multilateral 499 512 517 500 443 433 172 161 of which: IBRD 65 0 0 0 0 0 0 0 IDA 159 280 295 303 299 298 84 86 Bilateral 2,421 2,780 3,091 3,363 3,674 3,398 1,048 979 Private creditors 815 2,179 2,216 1,467 1,414 1,021 997 1,017 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 686 2,017 2,037 1,281 1,242 877 866 892 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 1 183 152 28 19 7 504 208 Public and publicly guaranteed 1 183 152 28 19 7 504 208 Official creditors 1 183 152 28 14 7 502 170 Multilateral 0 48 18 14 9 5 5 5 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 35 8 2 3 3 2 2 Bilateral 1 135 134 14 4 1 496 165 Private creditors 0 0 0 0 5 0 2 38 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 38 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 6 65 50 74 107 92 86 77 Public and publicly guaranteed 6 65 50 74 107 92 86 77 Official creditors 6 65 50 72 79 80 74 65 Multilateral 6 47 31 23 16 16 18 15 of which: IBRD 2 0 0 0 0 0 0 0 IDA 1 5 3 2 2 2 1 0 Bilateral 0 19 19 49 64 64 56 50 Private creditors 0 0 0 1 27 12 12 12 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 24 11 11 11 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 7 34 31 29 62 73 27 24 Public and publicly guaranteed 7 34 31 29 62 73 27 24 Official creditors 7 34 31 29 57 55 8 5 Multilateral 7 26 14 11 7 6 5 4 of which: IBRD 1 0 0 0 0 0 0 0 IDA 1 2 2 2 2 2 1 1 Bilateral 0 8 17 19 50 49 4 2 Private creditors 0 0 0 0 5 18 18 18 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 5 18 18 18 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -141 -437 427 -898 203 -767 -2,606 -95 Net flows on external debt -52 128 161 -3 -54 -151 469 114 9. Debt restructurings Total amount rescheduled 0 123 124 616 312 53 0 60 Total amount forgiven 0 141 152 1,282 153 770 3,148 2 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 258 73 100 93 91 94 95 94 Interest 5 5 6 6 6 6 5 5 Private creditors Principal 165 149 144 60 55 50 47 44 Interest 23 20 16 13 11 12 10 9 Notes: Long-term public and publicly guaranteed debt data for 2011 are World Bank staff estimates based on reports provided by the country. Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement and HIPC and MDRI debt relief. 111 COSTA RICA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 4,736 6,524 7,032 8,450 9,251 8,164 8,522 10,291 Long-term external debt 3,742 4,393 4,641 5,178 5,226 5,675 5,850 7,629 Public and publicly guaranteed 3,506 3,162 3,316 3,657 3,232 3,216 3,797 3,925 Private nonguaranteed 236 1,231 1,325 1,521 1,994 2,459 2,053 3,704 Use of IMF credit 31 34 36 37 37 245 241 240 Short-term external debt 962 2,097 2,355 3,234 3,989 2,243 2,431 2,422 interest arrears on long-term 27 2 2 0 0 0 0 0 Memorandum items Principal arrears on long-term 69 0 0 0 0 0 0 0 Long-term public sector debt 3,505 3,162 3,316 3,657 3,232 3,216 3,797 3,925 Long-term private sector debt 237 1,231 1,325 1,521 1,994 2,459 2,053 3,704 Public & publicly guaranteed commitments 824 358 416 264 446 1,848 175 646 External debt flows Disbursements 758 986 458 610 1,178 1,329 1,378 1,800 Long-term external debt 758 986 458 610 1,178 1,329 1,378 1,800 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 391 570 498 562 1,124 858 575 1,111 Long-term external debt 391 570 498 562 1,124 858 575 1,111 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 545 841 218 928 809 -1,274 991 680 Long-term external debt 367 416 -40 48 54 471 804 689 Short-term external debt 179 425 258 880 755 -1,745 188 -9 Interest payments 264 275 295 349 463 429 397 482 Long-term external debt 206 180 176 208 352 366 329 415 IMF charges 1 1 1 1 0 1 1 0 Short-term external debt 56 94 118 140 110 62 67 67 2. Other non-debt resource inflows Foreign direct investment 409 861 1,469 1,896 2,078 1,347 1,466 2,176 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 1.7 1.6 1.7 1.7 1.6 1.2 0.9 Japanese yen 4.0 2.7 2.1 2.3 3.7 5.1 5.8 5.6 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 68.8 77.1 80.2 82.8 86.3 87.7 87.7 89.4 4. Average terms of new commitments Official creditors Interest (%) 6.3 5.7 4.8 5.6 4.5 3.1 4.8 2.6 Maturity (years) 4.3 17.5 15.1 11.3 17.3 19.6 7.1 19.1 Grace period (years) 1.8 4.0 3.9 2.2 4.0 4.1 0.3 4.0 Private creditors Interest (%) 8.3 8.2 6.9 6.0 0.0 5.4 4.7 5.9 Maturity (years) 17.3 12.1 10.3 1.4 0.0 7.4 3.9 8.3 Grace period (years) 17.3 0.5 10.3 0.3 0.0 5.6 0.8 7.6 5. Major economic aggregates Gross national income (GNI) 14,697 19,184 21,803 25,574 29,078 28,503 35,233 40,056 Exports of goods, services & prim. income 7,992 7,535 8,605 10,184 10,863 9,890 10,797 11,791 Personal transfers & comp. of employees 136 420 513 618 605 513 531 520 Imports of goods, services & prim. income 8,793 8,787 9,977 12,300 14,092 10,825 12,445 14,310 Primary income on FDI 1,141 743 853 1,131 749 986 606 503 Current account balance -707 -981 -1,023 -1,646 -2,787 -576 -1,281 -2,195 International reserves 1,318 2,313 3,115 4,114 3,799 4,066 4,627 4,756 6. Ratios External debt stocks to exports (%) 59.3 86.6 81.7 83.0 85.2 82.5 78.9 87.3 External debt stocks to GNI (%) 32.2 34.0 32.3 33.0 31.8 28.6 24.2 25.7 Debt service to exports (%) 8.2 11.2 9.2 8.9 14.6 13.0 9.0 13.5 Short-term to external debt stocks (%) 20.3 32.1 33.5 38.3 43.1 27.5 28.5 23.5 Multilateral to external debt stocks (%) 28.7 18.0 17.9 14.2 11.9 14.6 20.8 17.4 Reserves to external debt stocks (%) 27.8 35.5 44.3 48.7 41.1 49.8 54.3 46.2 Reserves to imports (months) 1.8 3.2 3.7 4.0 3.2 4.5 4.5 4.0 112 COSTA RICA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 3,742 4,393 4,641 5,178 5,226 5,675 5,850 7,629 Public and publicly guaranteed 3,506 3,162 3,316 3,657 3,232 3,216 3,797 3,925 Official creditors 1,915 1,371 1,452 1,483 1,420 1,586 2,201 2,196 Multilateral 1,359 1,177 1,261 1,201 1,097 1,188 1,771 1,794 of which: IBRD 121 59 53 45 41 57 570 587 IDA 2 1 1 1 0 0 0 0 Bilateral 556 194 192 281 322 398 430 402 Private creditors 1,591 1,791 1,864 2,174 1,812 1,630 1,596 1,729 of which: Bonds 1,542 1,669 1,685 1,900 1,660 1,435 1,435 1,435 Commercial banks 23 102 161 257 137 182 148 246 Private nonguaranteed 236 1,231 1,325 1,521 1,994 2,459 2,053 3,704 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 758 986 458 610 1,178 1,329 1,378 1,800 Public and publicly guaranteed 749 75 142 118 394 559 848 695 Official creditors 249 75 92 118 383 419 845 269 Multilateral 130 69 77 102 319 296 784 256 of which: IBRD 6 5 5 1 4 24 521 24 IDA 0 0 0 0 0 0 0 0 Bilateral 118 6 15 16 63 122 61 14 Private creditors 500 0 50 0 11 141 2 426 of which: Bonds 500 0 50 0 0 75 0 250 Commercial banks 0 0 0 0 11 66 0 137 Private nonguaranteed 9 910 316 492 785 770 531 1,105 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 391 570 498 562 1,124 858 575 1,111 Public and publicly guaranteed 374 365 276 266 848 574 293 575 Official creditors 337 306 230 224 475 251 257 283 Multilateral 158 276 213 195 432 204 206 233 of which: IBRD 33 17 11 9 8 7 9 7 IDA 0 0 0 0 0 0 0 0 Bilateral 180 31 18 30 43 47 51 50 Private creditors 37 59 45 42 373 323 36 292 of which: Bonds 30 41 34 35 240 300 0 250 Commercial banks 4 17 11 7 130 21 34 39 Private nonguaranteed 17 204 222 296 276 284 282 536 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 206 180 176 208 352 366 329 415 Public and publicly guaranteed 190 106 96 116 249 219 213 200 Official creditors 105 63 53 43 81 77 86 85 Multilateral 84 58 50 40 71 67 76 74 of which: IBRD 12 3 3 3 3 2 3 10 IDA 0 0 0 0 0 0 0 0 Bilateral 20 5 3 3 10 10 11 11 Private creditors 86 43 42 73 168 142 127 115 of which: Bonds 80 39 37 68 152 131 116 105 Commercial banks 2 3 5 4 14 9 9 8 Private nonguaranteed 16 74 80 92 104 147 116 215 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 485 770 509 1,417 801 -1,086 357 1,770 Net flows on external debt 545 841 218 928 809 -1,274 991 680 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 268 288 261 236 193 185 177 158 Interest 69 60 52 44 38 33 29 25 Private creditors Principal 1,282 1,009 997 424 484 247 192 146 Interest 286 213 162 119 95 75 63 54 Notes: Long-term private nonguaranteed debt data are World Bank staff estimates based on reports provided by the country. 113 COTE D'IVOIRE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 12,187 11,966 12,821 13,925 12,632 13,922 10,794 12,012 Long-term external debt 10,546 10,866 11,605 12,237 11,041 12,984 9,619 10,108 Public and publicly guaranteed 9,063 9,965 10,823 11,646 10,628 12,713 9,339 9,800 Private nonguaranteed 1,482 900 782 591 414 271 280 308 Use of IMF credit 599 252 207 233 247 839 861 1,090 Short-term external debt 1,043 848 1,010 1,455 1,344 98 314 814 interest arrears on long-term 79 848 1,010 1,455 1,344 98 7 5 Memorandum items Principal arrears on long-term 169 1,499 2,033 2,497 2,218 181 6 5 Long-term public sector debt 9,063 9,965 10,823 11,646 10,628 12,713 9,339 9,800 Long-term private sector debt 1,482 900 782 591 414 271 280 308 Public & publicly guaranteed commitments 72 40 58 162 73 144 302 675 External debt flows Disbursements 148 55 116 140 119 408 263 976 Long-term external debt 148 55 116 77 54 107 209 719 IMF purchases 0 0 0 62 64 301 55 257 Principal repayments 481 255 217 345 826 841 530 457 Long-term external debt 442 164 160 298 782 698 520 438 IMF repurchases 39 91 57 47 44 143 10 18 Net flows -617 -308 -101 -206 -708 -433 40 1,021 Long-term external debt -294 -109 -44 -221 -728 -590 -311 281 Short-term external debt -283 -108 0 0 0 0 307 502 Interest payments 541 52 52 86 221 268 77 88 Long-term external debt 462 46 49 82 216 264 74 81 IMF charges 5 3 3 3 5 3 2 1 Short-term external debt 74 3 0 0 0 0 2 7 2. Other non-debt resource inflows Foreign direct investment 235 349 351 443 466 396 358 344 Portfolio equity 1 14 2 2 2 2 2 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 51.9 53.4 55.6 56.2 63.7 59.9 55.3 Japanese yen 1.4 1.3 1.2 1.1 1.6 1.7 3.3 3.3 Pound sterling 0.6 0.4 0.4 0.4 0.3 0.4 0.1 0.1 Swiss franc 0.2 0.2 0.2 0.2 0.2 0.0 0.0 0.0 U.S.dollars 53.7 37.7 35.9 34.1 33.0 29.8 30.8 35.5 4. Average terms of new commitments Official creditors Interest (%) 0.8 1.7 0.2 4.8 1.7 3.7 1.1 8.0 Maturity (years) 46.2 20.0 8.5 15.3 20.5 21.3 15.3 15.3 Grace period (years) 9.6 5.7 1.7 4.4 5.7 6.6 3.3 4.8 Private creditors Interest (%) 0.0 0.0 0.0 0.5 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 11.7 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 3.7 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 9,715 15,643 16,589 18,913 22,434 22,031 21,925 23,037 Exports of goods, services & prim. income 4,512 8,717 9,512 9,813 11,643 12,562 12,811 .. Personal transfers & comp. of employees 119 163 167 185 199 315 373 202 Imports of goods, services & prim. income 4,423 8,215 8,501 9,608 10,859 10,845 11,907 .. Primary income on FDI 284 370 478 531 581 572 562 0 Current account balance -241 40 479 -139 452 1,618 465 .. International reserves 674 1,367 1,798 2,519 2,253 3,267 3,624 4,316 6. Ratios External debt stocks to exports (%) 270.1 137.3 134.8 141.9 108.5 110.8 84.3 .. External debt stocks to GNI (%) 125.4 76.5 77.3 73.6 56.3 63.2 49.2 52.1 Debt service to exports (%) 22.7 3.5 2.8 4.4 9.0 8.8 4.7 .. Short-term to external debt stocks (%) 8.6 7.1 7.9 10.4 10.6 0.7 2.9 6.8 Multilateral to external debt stocks (%) 24.3 25.8 26.0 24.9 22.9 17.4 21.7 19.4 Reserves to external debt stocks (%) 5.5 11.4 14.0 18.1 17.8 23.5 33.6 35.9 Reserves to imports (months) 1.8 2.0 2.5 3.1 2.5 3.6 3.7 .. 114 COTE D'IVOIRE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 10,546 10,866 11,605 12,237 11,041 12,984 9,619 10,108 Public and publicly guaranteed 9,063 9,965 10,823 11,646 10,628 12,713 9,339 9,800 Official creditors 6,669 7,673 8,384 9,062 8,129 10,647 9,227 9,670 Multilateral 2,958 3,087 3,330 3,471 2,896 2,418 2,342 2,335 of which: IBRD 599 423 456 479 117 42 14 0 IDA 1,366 1,763 1,847 1,909 1,797 1,781 1,749 1,713 Bilateral 3,711 4,586 5,054 5,591 5,233 8,229 6,885 7,334 Private creditors 2,394 2,292 2,439 2,584 2,499 2,066 112 131 of which: Bonds 2,343 2,159 2,293 2,425 2,346 1,931 0 0 Commercial banks 14 133 146 160 152 135 86 80 Private nonguaranteed 1,482 900 782 591 414 271 280 308 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 148 55 116 77 54 107 209 719 Public and publicly guaranteed 148 21 88 57 35 85 185 684 Official creditors 148 21 88 57 35 85 159 650 Multilateral 148 11 71 35 24 62 111 118 of which: IBRD 0 0 0 0 0 0 0 0 IDA 76 0 0 0 13 13 40 17 Bilateral 0 10 17 22 11 23 48 532 Private creditors 0 0 0 0 0 0 26 34 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 34 28 20 19 22 24 35 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 442 164 160 298 782 698 520 438 Public and publicly guaranteed 329 21 14 112 586 533 440 350 Official creditors 283 21 13 112 586 533 440 341 Multilateral 143 20 12 106 585 504 124 113 of which: IBRD 57 0 0 30 377 73 25 15 IDA 0 0 0 16 117 41 41 49 Bilateral 140 0 1 6 1 29 316 228 Private creditors 46 0 0 0 0 0 0 9 of which: Bonds 46 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 113 143 146 187 196 165 80 88 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 462 46 49 82 216 264 74 81 Public and publicly guaranteed 342 3 2 41 183 241 59 69 Official creditors 189 3 2 41 183 241 59 69 Multilateral 78 3 2 41 183 238 26 27 of which: IBRD 32 0 0 10 83 6 1 0 IDA 8 0 0 8 61 14 13 15 Bilateral 111 0 0 1 1 3 33 42 Private creditors 153 0 0 0 0 0 0 0 of which: Bonds 153 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 120 43 47 41 33 23 15 11 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -1,035 -1,292 855 1,104 -1,293 1,290 -3,127 1,218 Net flows on external debt -617 -308 -101 -206 -708 -433 40 1,021 9. Debt restructurings Total amount rescheduled 72 0 0 0 0 4,707 229 658 Total amount forgiven 29 0 0 0 0 1,180 671 149 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 859 667 708 748 757 747 767 401 Interest 332 330 315 289 260 230 200 173 Private creditors Principal 113 74 61 50 44 38 38 8 Interest 13 10 8 6 5 3 2 2 Notes: Long-term public and publicly guaranteed debt data for 2010 are revised based on reports provided by the country. Long-term private nonguaranteed debt data are World Bank staff estimates based on reports provided by the country. Data include the effects of Paris Club agreement signed in 2011 and HIPC and MDRI debt relief. 115 DJIBOUTI (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 298.6 485.1 566.0 821.2 843.3 894.2 760.8 767.0 Long-term external debt 238.3 376.9 439.2 651.4 678.4 735.4 610.8 641.7 Public and publicly guaranteed 238.3 376.9 439.2 651.4 678.4 735.4 610.8 641.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 14.9 20.4 19.8 17.9 19.2 39.5 35.5 39.7 Short-term external debt 45.4 87.9 107.0 151.8 145.7 119.3 114.5 85.6 interest arrears on long-term 6.4 8.9 10.0 5.8 0.7 2.3 0.5 0.6 Memorandum items Principal arrears on long-term 22.4 21.3 26.3 40.2 2.2 6.9 2.2 1.8 Long-term public sector debt 238.3 376.9 439.2 651.4 678.4 735.4 610.8 641.7 Long-term private sector debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public & publicly guaranteed commitments 48.6 87.6 41.1 22.7 38.4 24.3 57.0 46.6 External debt flows Disbursements 11.3 26.5 63.7 39.0 52.0 69.6 35.2 62.7 Long-term external debt 7.7 26.5 63.7 39.0 45.9 67.4 35.2 55.7 IMF purchases 3.6 0.0 0.0 0.0 6.1 2.3 0.0 7.0 Principal repayments 10.7 11.9 18.5 17.1 21.8 26.5 25.6 27.4 Long-term external debt 8.4 11.0 16.9 14.3 17.5 22.3 22.2 24.8 IMF repurchases 2.3 0.8 1.6 2.8 4.3 4.2 3.3 2.6 Net flows 39.7 56.7 63.2 71.0 29.2 15.1 6.6 6.2 Long-term external debt -0.7 15.5 46.8 24.7 28.4 45.0 13.0 30.8 Short-term external debt 39.0 42.0 18.0 49.0 -1.0 -28.0 -3.0 -29.0 Interest payments 4.5 5.9 7.8 10.6 11.7 9.6 9.9 10.3 Long-term external debt 2.2 3.7 4.9 6.5 7.7 8.1 8.2 9.2 IMF charges 0.5 0.2 0.2 0.2 0.1 0.1 0.1 0.0 Short-term external debt 1.8 2.1 2.7 3.9 3.8 1.3 1.6 1.1 2. Other non-debt resource inflows Foreign direct investment 3.3 22.2 108.3 195.4 227.7 96.9 36.5 78.0 Portfolio equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 13.2 16.9 34.0 31.7 30.6 14.2 14.3 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 16.2 33.9 32.4 25.6 25.3 24.5 29.6 28.5 4. Average terms of new commitments Official creditors Interest (%) 2.3 1.3 1.8 3.9 2.9 2.5 2.1 2.0 Maturity (years) 29.9 38.0 10.9 24.8 20.8 26.3 23.1 21.1 Grace period (years) 6.9 9.0 6.5 5.8 5.0 7.3 5.7 5.4 Private creditors Interest (%) 0.0 6.9 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 11.5 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 2.0 0.0 0.0 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 567.0 775.8 853.9 935.9 1072.5 1120.1 .. .. Exports of goods, services & prim. income 218.4 319.8 341.5 329.4 398.3 422.7 439.0 .. Personal transfers & comp. of employees 12.3 25.8 28.5 28.6 30.3 32.5 32.6 35.3 Imports of goods, services & prim. income 287.1 372.3 436.8 579.9 703.5 580.0 483.7 .. Primary income on FDI 4.2 5.9 5.9 4.2 5.0 6.5 6.8 0.0 Current account balance -19.0 20.1 -16.6 -171.4 -225.4 -71.1 50.5 .. International reserves 67.8 89.3 120.3 132.1 175.5 241.8 249.0 244.1 6. Ratios External debt stocks to exports (%) 136.7 151.7 165.7 249.3 211.7 211.5 173.3 .. External debt stocks to GNI (%) 52.7 62.5 66.3 87.7 78.6 79.8 .. .. Debt service to exports (%) 6.9 5.6 7.7 8.4 8.4 8.5 8.1 .. Short-term to external debt stocks (%) 15.2 18.1 18.9 18.5 17.3 13.3 15.1 11.2 Multilateral to external debt stocks (%) 46.3 55.0 53.7 42.0 42.8 44.5 53.1 55.9 Reserves to external debt stocks (%) 22.7 18.4 21.3 16.1 20.8 27.0 32.7 31.8 Reserves to imports (months) 2.8 2.9 3.3 2.7 3.0 5.0 6.2 .. 116 DJIBOUTI (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 238.3 376.9 439.2 651.4 678.4 735.4 610.8 641.7 Public and publicly guaranteed 238.3 376.9 439.2 651.4 678.4 735.4 610.8 641.7 Official creditors 238.3 371.3 416.0 620.6 651.0 711.2 590.3 624.5 Multilateral 138.3 266.7 303.7 345.1 360.8 397.6 404.1 428.7 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 49.9 120.3 133.3 147.2 151.6 158.4 154.7 152.6 Bilateral 100.0 104.6 112.3 275.6 290.2 313.6 186.3 195.8 Private creditors 0.0 5.6 23.2 30.8 27.4 24.2 20.4 17.2 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 5.6 5.6 12.3 13.5 15.2 14.2 12.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 7.7 26.5 63.7 39.0 45.9 67.4 35.2 55.7 Public and publicly guaranteed 7.7 26.5 63.7 39.0 45.9 67.4 35.2 55.7 Official creditors 7.7 26.5 44.5 39.0 45.9 67.4 35.2 55.7 Multilateral 7.7 16.2 34.2 29.6 24.0 44.8 18.7 37.9 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 3.9 4.7 8.2 9.7 7.2 7.4 1.4 1.4 Bilateral 0.0 10.3 10.4 9.4 21.9 22.6 16.5 17.8 Private creditors 0.0 0.0 19.1 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 8.4 11.0 16.9 14.3 17.5 22.3 22.2 24.8 Public and publicly guaranteed 8.4 11.0 16.9 14.3 17.5 22.3 22.2 24.8 Official creditors 8.4 11.0 14.5 13.2 13.6 17.3 19.8 21.9 Multilateral 4.0 5.1 8.2 7.9 8.7 9.6 10.9 13.3 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.5 1.4 1.2 1.8 1.6 1.8 2.3 3.0 Bilateral 4.4 6.0 6.3 5.3 5.0 7.7 9.0 8.5 Private creditors 0.0 0.0 2.4 1.1 3.9 5.1 2.4 3.0 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 0.2 1.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 2.2 3.7 4.9 6.5 7.7 8.1 8.2 9.2 Public and publicly guaranteed 2.2 3.7 4.9 6.5 7.7 8.1 8.2 9.2 Official creditors 2.2 3.7 4.9 6.5 7.2 7.6 7.5 8.5 Multilateral 1.4 2.7 3.9 4.6 5.2 5.0 5.1 6.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.4 1.0 0.8 1.1 1.3 1.1 1.1 1.2 Bilateral 0.8 1.0 1.1 1.9 2.0 2.6 2.4 2.5 Private creditors 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.1 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 8. Debt stock-flow reconciliation Total change in external debt stocks 29.3 28.5 80.9 255.2 22.2 50.8 -133.4 6.2 Net flows on external debt 39.7 56.7 63.2 71.0 29.2 15.1 6.6 6.2 9. Debt restructurings Total amount rescheduled 2.1 0.0 0.0 0.0 58.2 8.7 17.0 2.0 Total amount forgiven 0.0 0.6 2.1 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 49.8 30.8 28.7 28.9 34.2 34.9 37.2 35.4 Interest 10.2 10.0 10.1 9.9 9.6 9.2 8.6 8.0 Private creditors Principal 9.2 1.1 1.1 1.1 1.1 0.1 0.3 0.4 Interest 0.4 0.3 0.2 0.2 0.1 0.0 0.0 0.0 Notes: Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt restructuring agreement signed in 2008. 117 DOMINICA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 183.3 277.3 255.9 291.8 303.9 272.2 282.7 283.9 Long-term external debt 163.6 224.4 219.0 215.7 204.9 202.3 219.9 229.1 Public and publicly guaranteed 163.6 224.4 219.0 215.7 204.9 202.3 219.9 229.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.8 12.4 14.9 13.1 15.9 31.9 30.2 27.3 Short-term external debt 19.0 40.6 22.0 63.0 83.0 37.9 32.5 27.5 interest arrears on long-term 0.0 8.6 11.0 14.0 17.0 17.9 1.5 1.5 Memorandum items Principal arrears on long-term 0.4 3.5 2.3 3.4 3.0 2.8 3.2 2.9 Long-term public sector debt 163.6 224.4 219.0 215.7 204.9 202.3 219.9 229.1 Long-term private sector debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public & publicly guaranteed commitments 57.3 25.8 0.0 6.0 5.6 14.2 59.7 3.9 External debt flows Disbursements 56.2 8.0 6.5 4.9 11.1 13.6 29.7 18.2 Long-term external debt 56.2 4.5 3.1 4.9 7.9 8.6 29.7 18.2 IMF purchases 0.0 3.5 3.4 0.0 3.2 5.1 0.0 0.0 Principal repayments 6.8 10.0 12.2 13.0 12.9 15.5 10.9 12.3 Long-term external debt 6.8 9.6 10.6 10.5 12.9 14.8 9.8 9.4 IMF repurchases 0.0 0.4 1.6 2.5 0.0 0.8 1.1 2.9 Net flows 49.5 -37.0 -26.7 29.9 15.2 -47.9 29.8 0.9 Long-term external debt 49.3 -5.2 -7.5 -5.6 -5.0 -6.2 19.8 8.8 Short-term external debt 0.2 -35.0 -21.0 38.0 17.0 -46.0 11.0 -5.0 Interest payments 4.2 6.4 6.9 6.7 6.2 5.3 4.7 4.6 Long-term external debt 3.1 4.7 5.6 4.9 4.3 4.5 4.3 4.2 IMF charges 0.0 0.2 0.3 0.2 0.2 0.1 0.1 0.1 Short-term external debt 1.1 1.5 1.1 1.6 1.7 0.6 0.3 0.4 2. Other non-debt resource inflows Foreign direct investment 17.6 19.2 25.9 40.5 56.5 41.3 24.3 34.3 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 5.3 3.9 3.4 2.7 3.4 3.0 3.1 Japanese yen 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 2.5 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 72.3 84.9 86.6 86.1 86.2 83.8 79.6 78.0 4. Average terms of new commitments Official creditors Interest (%) 5.2 2.4 0.0 0.8 1.2 2.1 2.4 3.5 Maturity (years) 21.3 21.9 0.0 34.5 31.1 26.2 19.3 21.7 Grace period (years) 6.9 7.6 0.0 10.0 8.4 8.4 5.5 3.4 Private creditors Interest (%) 1.9 0.0 0.0 0.0 3.5 0.0 0.0 0.0 Maturity (years) 9.2 0.0 0.0 0.0 15.6 0.0 0.0 0.0 Grace period (years) 2.3 0.0 0.0 0.0 2.6 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 289.4 339.2 379.3 404.5 443.8 467.6 462.5 473.8 Exports of goods, services & prim. income 149.2 135.3 150.6 156.4 170.7 163.2 175.9 172.8 Personal transfers & comp. of employees 16.3 21.8 22.1 22.5 22.7 22.1 22.8 23.2 Imports of goods, services & prim. income 227.1 231.0 220.0 264.5 314.1 284.9 277.6 277.4 Primary income on FDI 33.0 22.7 7.4 13.0 12.5 13.4 7.7 7.8 Current account balance -59.8 -76.1 -49.9 -86.9 -124.3 -102.4 -82.1 -84.7 International reserves 29.4 49.2 63.0 60.5 55.2 75.5 76.1 81.1 6. Ratios External debt stocks to exports (%) 122.9 205.0 169.9 186.6 178.0 166.8 160.7 164.4 External debt stocks to GNI (%) 63.3 81.8 67.5 72.1 68.5 58.2 61.1 59.9 Debt service to exports (%) 7.4 12.1 12.7 12.6 11.2 12.7 8.9 9.8 Short-term to external debt stocks (%) 10.4 14.6 8.6 21.6 27.3 13.9 11.5 9.7 Multilateral to external debt stocks (%) 45.5 45.4 47.4 41.5 38.5 43.4 41.4 43.0 Reserves to external debt stocks (%) 16.0 17.7 24.6 20.7 18.1 27.7 26.9 28.6 Reserves to imports (months) 1.6 2.6 3.4 2.7 2.1 3.2 3.3 3.5 118 DOMINICA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 163.6 224.4 219.0 215.7 204.9 202.3 219.9 229.1 Public and publicly guaranteed 163.6 224.4 219.0 215.7 204.9 202.3 219.9 229.1 Official creditors 114.3 174.0 168.7 165.4 157.8 156.3 174.0 183.4 Multilateral 83.4 126.0 121.4 121.0 117.1 118.2 117.0 122.2 of which: IBRD 2.4 3.9 3.3 2.5 1.8 1.2 0.8 0.4 IDA 13.6 21.7 22.5 25.4 26.5 27.5 27.0 27.2 Bilateral 30.9 48.0 47.3 44.4 40.7 38.1 57.0 61.2 Private creditors 49.2 50.4 50.4 50.4 47.1 46.0 46.0 45.8 of which: Bonds 49.2 47.9 47.9 47.9 42.9 41.0 41.0 41.0 Commercial banks 0.0 0.0 0.0 0.0 1.7 2.2 2.2 2.1 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 56.2 4.5 3.1 4.9 7.9 8.6 29.7 18.2 Public and publicly guaranteed 56.2 4.5 3.1 4.9 7.9 8.6 29.7 18.2 Official creditors 25.7 4.5 3.1 4.9 6.2 8.6 29.7 18.2 Multilateral 19.3 3.9 2.6 4.7 6.2 6.2 7.6 11.4 of which: IBRD 0.7 0.3 0.0 0.0 0.0 0.0 0.0 0.0 IDA -0.1 0.5 0.1 2.3 1.8 1.4 0.5 0.8 Bilateral 6.3 0.6 0.5 0.1 0.0 2.3 22.1 6.8 Private creditors 30.5 0.0 0.0 0.0 1.7 0.0 0.0 0.0 of which: Bonds 30.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 1.7 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 6.8 9.6 10.6 10.5 12.9 14.8 9.8 9.4 Public and publicly guaranteed 6.8 9.6 10.6 10.5 12.9 14.8 9.8 9.4 Official creditors 6.8 9.6 10.6 10.5 12.9 12.9 9.8 9.2 Multilateral 3.9 7.9 8.0 6.9 9.3 7.7 6.4 6.2 of which: IBRD 0.0 0.4 0.6 0.8 0.8 0.6 0.4 0.4 IDA 0.1 0.3 0.3 0.4 0.5 0.5 0.5 0.6 Bilateral 2.9 1.7 2.6 3.6 3.6 5.2 3.4 3.0 Private creditors 0.0 0.0 0.0 0.0 0.0 1.9 0.1 0.2 of which: Bonds 0.0 0.0 0.0 0.0 0.0 1.9 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 3.1 4.7 5.6 4.9 4.3 4.5 4.3 4.2 Public and publicly guaranteed 3.1 4.7 5.6 4.9 4.3 4.5 4.3 4.2 Official creditors 2.9 4.3 5.0 4.5 4.1 4.0 3.9 3.9 Multilateral 1.9 3.2 3.2 3.1 2.8 2.8 2.6 2.5 of which: IBRD 0.1 0.2 0.2 0.2 0.1 0.1 0.0 0.0 IDA 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 Bilateral 1.0 1.1 1.8 1.4 1.3 1.2 1.3 1.4 Private creditors 0.2 0.4 0.6 0.5 0.2 0.6 0.4 0.3 of which: Bonds 0.2 0.4 0.6 0.5 0.2 0.2 0.3 0.2 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.3 0.1 0.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 49.2 -30.8 -21.4 35.9 12.0 -31.7 10.5 1.3 Net flows on external debt 49.5 -37.0 -26.7 29.9 15.2 -47.9 29.8 0.9 9. Debt restructurings Total amount rescheduled 0.0 14.6 11.5 0.0 0.0 0.0 0.0 0.0 Total amount forgiven 0.0 0.1 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 9.9 11.1 16.7 11.2 14.0 14.1 12.8 12.7 Interest 4.6 4.6 4.6 4.3 4.1 3.9 3.6 3.3 Private creditors Principal 3.9 0.2 30.8 0.1 0.1 0.1 0.1 0.5 Interest 3.2 3.1 3.1 0.3 0.3 0.3 0.3 0.3 119 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 4,624 7,219 8,694 10,325 10,282 11,275 13,357 15,395 Long-term external debt 3,353 5,887 6,791 7,247 7,802 8,784 10,173 11,671 Public and publicly guaranteed 3,353 5,885 6,378 6,402 6,958 7,941 9,330 10,758 Private nonguaranteed 0 2 414 845 843 843 843 913 Use of IMF credit 93 446 507 598 541 1,094 1,461 1,623 Short-term external debt 1,178 887 1,395 2,480 1,940 1,397 1,723 2,101 interest arrears on long-term 28 20 8 9 3 0 0 0 Memorandum items Principal arrears on long-term 56 144 32 13 15 0 0 0 Long-term public sector debt 3,340 5,877 6,371 6,397 6,954 7,937 9,327 10,755 Long-term private sector debt 13 9 420 851 848 847 846 916 Public & publicly guaranteed commitments 469 1,714 1,336 343 1,031 2,935 1,865 2,287 External debt flows Disbursements 312 863 1,753 1,420 1,420 1,789 2,640 2,511 Long-term external debt 312 643 1,611 1,243 1,298 1,481 2,110 2,166 IMF purchases 0 220 142 177 122 308 530 346 Principal repayments 259 455 1,034 948 880 835 834 865 Long-term external debt 259 455 929 834 715 787 687 690 IMF repurchases 0 0 105 114 164 47 147 175 Net flows 318 385 1,239 1,555 6 415 2,132 2,024 Long-term external debt 52 188 682 408 583 693 1,423 1,476 Short-term external debt 265 -23 520 1,084 -534 -540 326 378 Interest payments 266 270 368 498 517 457 476 636 Long-term external debt 211 212 256 329 446 431 443 584 IMF charges 4 11 24 28 25 8 11 20 Short-term external debt 50 48 88 141 47 17 22 33 2. Other non-debt resource inflows Foreign direct investment 953 1,118 1,529 2,253 2,728 1,695 2,094 2,295 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 2.8 3.4 6.2 7.6 8.5 6.3 4.7 Japanese yen 4.9 2.7 2.0 1.8 1.9 1.8 1.6 1.2 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 73.0 86.9 88.1 86.0 85.5 85.7 89.1 91.6 4. Average terms of new commitments Official creditors Interest (%) 6.5 1.3 4.1 3.7 2.6 2.7 1.4 0.4 Maturity (years) 14.4 24.3 21.5 21.2 22.5 17.1 20.5 19.2 Grace period (years) 1.8 2.9 4.5 4.1 3.4 4.9 5.7 4.6 Private creditors Interest (%) 6.5 3.2 6.6 6.5 5.9 4.8 6.6 5.0 Maturity (years) 10.3 4.1 13.5 9.2 8.4 10.7 10.8 11.5 Grace period (years) 2.7 1.2 8.7 2.2 2.4 2.9 8.7 7.2 5. Major economic aggregates Gross national income (GNI) 22,955 32,102 34,100 39,234 43,991 45,019 49,788 53,484 Exports of goods, services & prim. income 9,264 10,498 11,877 12,797 12,411 10,780 12,404 14,383 Personal transfers & comp. of employees 1,839 2,719 3,054 3,397 3,606 3,415 3,430 3,650 Imports of goods, services & prim. income 12,193 13,668 16,309 18,364 20,443 16,326 19,857 22,288 Primary income on FDI 1,068 1,765 1,932 2,194 1,669 1,518 1,528 1,839 Current account balance -1,027 -473 -1,287 -2,166 -4,519 -2,331 -4,330 -4,499 International reserves 627 1,933 2,264 3,030 2,682 3,563 3,857 4,089 6. Ratios External debt stocks to exports (%) 49.9 68.8 73.2 80.7 82.8 104.6 107.7 107.0 External debt stocks to GNI (%) 20.1 22.5 25.5 26.3 23.4 25.0 26.8 28.8 Debt service to exports (%) 5.7 6.9 11.8 11.3 11.3 12.0 10.6 10.4 Short-term to external debt stocks (%) 25.5 12.3 16.1 24.0 18.9 12.4 12.9 13.6 Multilateral to external debt stocks (%) 25.1 25.1 21.9 18.3 18.4 23.2 23.1 21.8 Reserves to external debt stocks (%) 13.6 26.8 26.0 29.3 26.1 31.6 28.9 26.6 Reserves to imports (months) 0.6 1.7 1.7 2.0 1.6 2.6 2.3 2.2 120 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 3,353 5,887 6,791 7,247 7,802 8,784 10,173 11,671 Public and publicly guaranteed 3,353 5,885 6,378 6,402 6,958 7,941 9,330 10,758 Official creditors 2,597 3,248 3,623 3,743 4,453 5,501 6,373 7,117 Multilateral 1,162 1,814 1,907 1,894 1,890 2,614 3,079 3,350 of which: IBRD 292 405 438 472 449 748 864 851 IDA 14 11 10 9 9 8 7 7 Bilateral 1,435 1,434 1,715 1,849 2,563 2,887 3,294 3,767 Private creditors 756 2,637 2,755 2,660 2,505 2,440 2,957 3,641 of which: Bonds 506 1,147 1,452 1,326 1,201 1,076 1,721 2,412 Commercial banks 131 994 1,138 1,207 1,212 1,286 1,163 1,168 Private nonguaranteed 0 2 414 845 843 843 843 913 of which: Bonds 0 0 412 844 843 843 843 843 Disbursements 312 643 1,611 1,243 1,298 1,481 2,110 2,166 Public and publicly guaranteed 312 642 1,199 812 1,298 1,481 2,110 2,121 Official creditors 148 371 642 459 1,023 1,392 1,176 1,117 Multilateral 100 199 187 185 213 904 622 432 of which: IBRD 39 64 67 73 20 352 175 53 IDA 0 0 0 0 0 0 0 0 Bilateral 47 172 455 274 810 488 554 685 Private creditors 164 271 557 353 275 89 935 1,004 of which: Bonds 0 0 324 0 0 0 750 750 Commercial banks 98 227 216 345 272 85 170 247 Private nonguaranteed 0 2 412 431 0 0 0 45 of which: Bonds 0 0 412 431 0 0 0 0 Principal repayments 259 455 929 834 715 787 687 690 Public and publicly guaranteed 259 455 929 834 715 787 687 682 Official creditors 219 179 379 368 310 353 310 375 Multilateral 65 111 113 216 216 192 152 158 of which: IBRD 21 38 34 39 43 54 59 66 IDA 1 1 1 1 1 1 1 1 Bilateral 154 69 265 152 94 161 158 216 Private creditors 40 276 551 466 405 434 377 308 of which: Bonds 4 20 20 125 125 125 105 58 Commercial banks 19 164 180 297 244 290 254 230 Private nonguaranteed 0 0 0 0 1 0 0 8 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 211 212 256 329 446 431 443 584 Public and publicly guaranteed 211 212 254 273 338 323 335 473 Official creditors 159 109 142 148 136 150 155 176 Multilateral 59 83 90 98 87 83 91 103 of which: IBRD 22 21 23 25 24 22 30 33 IDA 0 0 0 0 0 0 0 0 Bilateral 100 26 52 50 48 67 64 72 Private creditors 53 103 112 125 202 173 179 297 of which: Bonds 38 16 45 56 125 113 134 249 Commercial banks 7 37 56 62 70 56 42 45 Private nonguaranteed 0 0 2 57 108 108 108 111 of which: Bonds 0 0 2 57 108 108 108 108 8. Debt stock-flow reconciliation Total change in external debt stocks -140 -83 1,474 1,631 -43 993 2,082 2,038 Net flows on external debt 318 385 1,239 1,555 6 415 2,132 2,024 9. Debt restructurings Total amount rescheduled 0 1,209 203 0 0 0 0 0 Total amount forgiven 1 0 0 0 0 0 0 0 Debt buyback 0 316 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 556 731 956 588 578 539 514 507 Interest 149 143 123 101 91 82 72 63 Private creditors Principal 923 775 422 328 254 184 734 114 Interest 324 275 255 245 234 228 196 166 Notes: Short-term debt is based on data from the BIS. 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. 121 ECUADOR (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 13,338 17,408 17,399 17,868 15,818 13,263 14,963 16,497 Long-term external debt 12,350 15,564 15,328 15,946 14,084 11,426 13,715 15,309 Public and publicly guaranteed 10,915 10,896 10,349 10,763 10,095 6,960 8,633 9,929 Private nonguaranteed 1,435 4,668 4,980 5,183 3,990 4,466 5,082 5,380 Use of IMF credit 191 125 72 52 51 452 444 443 Short-term external debt 797 1,719 1,998 1,870 1,683 1,386 804 745 interest arrears on long-term 3 1 0 0 31 37 37 46 Memorandum items Principal arrears on long-term 6 5 0 0 1 1 1 16 Long-term public sector debt 10,915 10,896 10,349 10,759 10,078 6,934 8,605 9,900 Long-term private sector debt 1,435 4,668 4,980 5,188 4,007 4,492 5,110 5,409 Public & publicly guaranteed commitments 404 1,328 1,303 1,248 17 166 4,890 3,608 External debt flows Disbursements 1,132 3,154 2,638 3,048 1,369 1,180 2,977 3,370 Long-term external debt 983 3,154 2,638 3,048 1,369 1,180 2,977 3,370 IMF purchases 150 0 0 0 0 0 0 0 Principal repayments 1,067 3,243 2,936 2,363 1,485 4,187 1,260 1,836 Long-term external debt 1,067 3,048 2,878 2,340 1,485 4,187 1,260 1,836 IMF repurchases 0 195 58 23 0 0 0 0 Net flows -189 -235 -19 557 -334 -3,310 1,135 1,466 Long-term external debt -84 105 -240 708 -116 -3,007 1,717 1,534 Short-term external debt -254 -145 280 -128 -218 -303 -582 -68 Interest payments 816 959 1,330 1,364 867 601 526 571 Long-term external debt 708 843 1,176 1,228 847 521 464 534 IMF charges 5 8 5 2 0 1 1 0 Short-term external debt 102 107 149 134 19 79 60 36 2. Other non-debt resource inflows Foreign direct investment -23 493 271 194 1,006 321 158 568 Portfolio equity 0 2 0 0 1 2 0 2 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 3.4 3.5 3.3 3.0 4.0 2.8 2.1 Japanese yen 4.5 3.5 3.4 3.1 2.6 3.3 2.6 2.0 Pound sterling 0.8 0.7 0.8 0.7 0.5 0.8 0.6 0.4 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 83.0 87.1 87.3 88.4 89.6 86.2 89.9 92.2 4. Average terms of new commitments Official creditors Interest (%) 6.9 6.6 6.7 5.4 3.0 3.3 5.1 5.4 Maturity (years) 17.2 8.1 16.7 20.9 18.7 23.2 12.0 12.8 Grace period (years) 5.2 2.9 4.5 4.2 2.2 5.6 3.7 2.8 Private creditors Interest (%) 7.5 9.3 6.0 0.0 6.3 0.0 0.0 0.0 Maturity (years) 9.9 10.0 10.7 0.0 12.6 0.0 0.0 0.0 Grace period (years) 2.5 9.8 1.9 0.0 3.1 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 14,530 35,127 39,877 43,559 52,747 50,638 56,924 65,613 Exports of goods, services & prim. income 6,163 11,693 14,499 16,431 21,218 15,854 19,686 24,755 Personal transfers & comp. of employees 1,322 2,460 2,934 3,341 3,089 2,742 2,599 2,681 Imports of goods, services & prim. income 6,403 13,880 15,863 17,924 22,692 18,366 23,774 27,755 Primary income on FDI 329 1,004 977 1,160 785 821 539 698 Current account balance 1,113 474 1,740 1,938 1,648 136 -1,613 -259 International reserves 947 1,714 1,489 2,816 3,738 2,873 1,435 1,664 6. Ratios External debt stocks to exports (%) 216.4 148.9 120.0 108.7 74.6 83.7 76.0 66.6 External debt stocks to GNI (%) 91.8 49.6 43.6 41.0 30.0 26.2 26.3 25.1 Debt service to exports (%) 30.6 35.9 29.4 22.7 11.1 30.2 9.1 9.7 Short-term to external debt stocks (%) 6.0 9.9 11.5 10.5 10.6 10.4 5.4 4.5 Multilateral to external debt stocks (%) 27.8 21.0 23.2 26.3 27.4 33.1 34.8 31.5 Reserves to external debt stocks (%) 7.1 9.8 8.6 15.8 23.6 21.7 9.6 10.1 Reserves to imports (months) 1.8 1.5 1.1 1.9 2.0 1.9 0.7 0.7 122 ECUADOR (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 12,350 15,564 15,328 15,946 14,084 11,426 13,715 15,309 Public and publicly guaranteed 10,915 10,896 10,349 10,763 10,095 6,960 8,633 9,929 Official creditors 5,922 5,993 6,180 6,635 6,006 5,895 7,610 8,939 Multilateral 3,710 3,654 4,033 4,702 4,335 4,386 5,207 5,197 of which: IBRD 840 799 746 684 612 532 446 367 IDA 21 15 14 13 12 11 10 8 Bilateral 2,212 2,339 2,147 1,934 1,672 1,509 2,403 3,741 Private creditors 4,993 4,902 4,168 4,128 4,088 1,065 1,023 990 of which: Bonds 3,950 4,600 3,860 3,860 3,860 873 868 868 Commercial banks 910 241 212 194 163 134 105 80 Private nonguaranteed 1,435 4,668 4,980 5,183 3,990 4,466 5,082 5,380 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 983 3,154 2,638 3,048 1,369 1,180 2,977 3,370 Public and publicly guaranteed 602 991 928 1,357 353 384 2,307 2,342 Official creditors 531 318 844 1,333 343 382 2,305 2,342 Multilateral 454 316 840 1,323 339 377 1,229 629 of which: IBRD 69 39 21 8 5 0 3 4 IDA 0 0 0 0 0 0 0 0 Bilateral 78 2 4 9 5 5 1,075 1,713 Private creditors 71 674 83 24 10 2 2 1 of which: Bonds 0 650 0 0 0 0 0 0 Commercial banks 71 24 22 24 10 2 2 1 Private nonguaranteed 381 2,162 1,710 1,691 1,016 796 670 1,028 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 1,067 3,048 2,878 2,340 1,485 4,187 1,260 1,836 Public and publicly guaranteed 550 923 1,586 1,029 964 3,529 637 1,048 Official creditors 399 803 773 964 915 503 593 1,014 Multilateral 326 410 482 686 735 323 407 637 of which: IBRD 89 74 74 70 77 81 89 83 IDA 1 1 1 1 1 1 1 1 Bilateral 73 393 291 277 180 180 185 378 Private creditors 151 120 813 65 49 3,025 44 33 of which: Bonds 0 0 740 0 0 2,987 6 0 Commercial banks 119 101 51 42 41 31 31 25 Private nonguaranteed 517 2,125 1,292 1,311 521 659 623 789 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 708 843 1,176 1,228 847 521 464 534 Public and publicly guaranteed 536 658 750 736 656 330 326 361 Official creditors 296 275 318 327 311 227 255 292 Multilateral 265 171 221 239 247 178 174 160 of which: IBRD 74 32 40 42 33 23 17 15 IDA 0 0 0 0 0 0 0 0 Bilateral 31 104 97 89 64 49 82 132 Private creditors 240 383 432 409 345 103 71 69 of which: Bonds 140 367 410 392 331 91 61 61 Commercial banks 89 12 16 10 9 7 6 4 Private nonguaranteed 172 185 426 492 191 191 139 174 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -2,737 -139 -9 469 -2,051 -2,554 1,699 1,534 Net flows on external debt -189 -235 -19 557 -334 -3,310 1,135 1,466 9. Debt restructurings Total amount rescheduled 4,674 0 0 0 0 0 0 0 Total amount forgiven 2,522 2 1 4 3 5 6 0 Debt buyback 0 0 0 0 0 2,987 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 1,132 1,020 997 774 869 981 951 692 Interest 421 447 437 412 387 346 300 196 Private creditors Principal 1,509 1,073 929 1,195 435 328 272 260 Interest 324 256 199 165 78 59 42 24 Notes: Short-term debt from 2005 are World Bank staff estimates based on Central Bank data. 123 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 29,172 29,932 30,631 34,149 33,509 34,970 36,427 35,001 Long-term external debt 24,891 28,082 28,707 31,699 30,458 31,000 31,895 30,596 Public and publicly guaranteed 24,318 27,989 28,626 31,678 30,378 30,926 31,841 30,580 Private nonguaranteed 573 93 81 21 80 74 54 16 Use of IMF credit 177 194 204 215 209 1,408 1,384 1,379 Short-term external debt 4,104 1,656 1,720 2,236 2,842 2,561 3,149 3,025 interest arrears on long-term 0 2 1 1 0 0 0 0 Memorandum items Principal arrears on long-term 14 8 2 2 2 2 0 0 Long-term public sector debt 24,316 27,703 28,186 31,073 29,843 30,486 31,481 30,290 Long-term private sector debt 574 379 521 626 614 514 414 307 Public & publicly guaranteed commitments 981 3,053 2,756 1,468 2,939 2,320 5,909 1,670 External debt flows Disbursements 569 3,088 839 3,178 1,129 2,103 3,556 1,448 Long-term external debt 569 3,088 839 3,178 1,129 2,103 3,556 1,448 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 1,098 1,573 1,627 2,019 2,318 2,053 2,123 2,625 Long-term external debt 1,098 1,573 1,627 2,019 2,318 2,053 2,123 2,625 IMF repurchases 0 0 0 0 0 0 0 0 Net flows -718 1,451 -723 1,675 -582 -231 2,022 -1,300 Long-term external debt -528 1,515 -788 1,159 -1,189 50 1,434 -1,176 Short-term external debt -189 -64 65 516 607 -281 588 -124 Interest payments 740 658 805 895 916 884 864 877 Long-term external debt 619 569 701 776 802 778 734 755 IMF charges 8 6 8 7 2 3 4 2 Short-term external debt 113 83 96 112 113 102 126 121 2. Other non-debt resource inflows Foreign direct investment 1,235 5,376 10,043 11,578 9,495 6,712 6,386 -483 Portfolio equity 269 729 502 -3,199 -674 393 1,724 -711 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 33.6 36.0 36.3 35.1 35.9 31.7 30.3 Japanese yen 13.8 12.7 12.2 10.7 13.3 12.6 13.3 13.7 Pound sterling 1.2 1.9 2.0 1.8 1.3 1.3 1.1 1.0 Swiss franc 2.1 1.9 1.9 1.7 1.8 1.7 1.7 1.6 U.S.dollars 39.8 36.6 34.9 35.3 34.2 33.9 37.8 37.3 4. Average terms of new commitments Official creditors Interest (%) 4.7 5.2 4.1 2.2 2.8 1.4 1.1 1.0 Maturity (years) 21.7 18.8 22.5 16.6 22.4 21.5 26.1 16.8 Grace period (years) 5.9 7.6 7.5 6.4 6.1 7.1 7.2 4.6 Private creditors Interest (%) 5.8 4.4 2.2 6.4 1.9 5.1 5.8 4.2 Maturity (years) 4.3 7.6 5.3 6.6 5.2 6.4 15.6 16.4 Grace period (years) 3.1 7.1 3.1 4.8 2.6 1.4 15.1 6.9 5. Major economic aggregates Gross national income (GNI) 100,770 89,432 108,015 131,655 164,178 189,146 214,530 223,484 Exports of goods, services & prim. income 18,735 32,141 39,241 47,707 57,826 45,601 49,365 47,371 Personal transfers & comp. of employees 2,852 5,017 5,330 7,656 8,694 7,150 12,453 14,324 Imports of goods, services & prim. income 23,878 35,787 42,375 55,618 68,999 56,910 66,308 68,076 Primary income on FDI 92 647 915 1,015 680 2,101 5,268 5,079 Current account balance -971 2,103 2,635 412 -1,415 -3,349 -4,504 -5,484 International reserves 13,118 20,609 24,462 30,188 32,216 32,253 33,612 14,916 6. Ratios External debt stocks to exports (%) 155.7 93.1 78.1 71.6 57.9 76.7 73.8 73.9 External debt stocks to GNI (%) 28.9 33.5 28.4 25.9 20.4 18.5 17.0 15.7 Debt service to exports (%) 9.8 6.9 6.2 6.1 5.6 6.4 6.1 7.4 Short-term to external debt stocks (%) 14.1 5.5 5.6 6.5 8.5 7.3 8.6 8.6 Multilateral to external debt stocks (%) 13.4 17.3 18.6 22.4 22.8 24.6 25.3 27.3 Reserves to external debt stocks (%) 45.0 68.9 79.9 88.4 96.1 92.2 92.3 42.6 Reserves to imports (months) 6.6 6.9 6.9 6.5 5.6 6.8 6.1 2.6 124 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 24,891 28,082 28,707 31,699 30,458 31,000 31,895 30,596 Public and publicly guaranteed 24,318 27,989 28,626 31,678 30,378 30,926 31,841 30,580 Official creditors 23,778 25,761 26,587 28,964 28,037 28,580 28,125 27,309 Multilateral 3,915 5,182 5,690 7,637 7,627 8,594 9,203 9,559 of which: IBRD 639 492 544 1,181 1,255 1,850 2,543 2,794 IDA 1,266 1,420 1,481 1,490 1,444 1,400 1,338 1,282 Bilateral 19,863 20,579 20,896 21,327 20,410 19,987 18,922 17,750 Private creditors 540 2,228 2,039 2,715 2,341 2,346 3,716 3,271 of which: Bonds 0 1,250 1,250 1,893 1,893 1,883 3,133 2,750 Commercial banks 317 830 655 716 358 378 512 462 Private nonguaranteed 573 93 81 21 80 74 54 16 of which: Bonds 100 0 0 0 0 0 0 0 Disbursements 569 3,088 839 3,178 1,129 2,103 3,556 1,448 Public and publicly guaranteed 362 3,088 839 3,178 1,059 2,094 3,551 1,418 Official creditors 218 1,112 764 2,435 958 1,990 1,842 1,395 Multilateral 168 923 613 2,251 686 1,513 1,387 1,041 of which: IBRD 6 97 108 723 143 684 777 343 IDA 49 69 57 13 11 2 10 3 Bilateral 50 188 152 185 273 477 456 354 Private creditors 144 1,976 75 743 100 104 1,709 23 of which: Bonds 0 1,250 0 643 0 0 1,500 0 Commercial banks 132 725 72 88 96 104 207 23 Private nonguaranteed 207 0 0 0 70 9 5 30 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 1,098 1,573 1,627 2,019 2,318 2,053 2,123 2,625 Public and publicly guaranteed 982 1,573 1,626 1,957 2,308 2,033 2,097 2,557 Official creditors 861 1,344 1,353 1,867 1,832 1,914 2,024 2,096 Multilateral 298 427 370 669 574 625 599 608 of which: IBRD 87 77 66 97 77 89 83 91 IDA 23 41 42 47 50 52 54 57 Bilateral 562 917 983 1,198 1,257 1,289 1,425 1,489 Private creditors 121 229 274 90 476 119 73 461 of which: Bonds 0 0 0 0 0 0 0 383 Commercial banks 57 204 257 42 444 93 54 64 Private nonguaranteed 116 0 1 61 11 20 25 68 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 619 569 701 776 802 778 734 755 Public and publicly guaranteed 603 565 682 774 799 776 733 754 Official creditors 572 547 586 680 714 653 580 561 Multilateral 147 138 180 236 268 239 208 205 of which: IBRD 41 21 27 47 58 55 41 39 IDA 9 11 11 11 11 10 10 11 Bilateral 425 408 406 444 446 415 373 356 Private creditors 31 18 96 94 85 123 152 194 of which: Bonds 0 0 56 56 56 112 140 181 Commercial banks 16 14 37 36 27 9 11 11 Private nonguaranteed 16 4 19 2 3 2 1 0 of which: Bonds 12 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks -1,881 -812 699 3,518 -640 1,461 1,457 -1,427 Net flows on external debt -718 1,451 -723 1,675 -582 -231 2,022 -1,300 9. Debt restructurings Total amount rescheduled 22 1 1 1 0 0 0 0 Total amount forgiven 25 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 4,062 3,824 3,301 3,432 2,954 1,744 1,813 1,767 Interest 603 555 496 437 383 339 303 265 Private creditors Principal 137 175 70 1,308 67 57 52 48 Interest 161 215 156 154 100 98 96 95 125 EL SALVADOR (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 4,535 9,317 10,220 9,855 10,651 10,368 11,328 11,995 Long-term external debt 2,858 7,425 8,893 8,523 9,070 9,248 9,971 10,521 Public and publicly guaranteed 2,746 4,802 5,604 5,444 5,754 6,109 6,402 6,537 Private nonguaranteed 111 2,622 3,289 3,079 3,316 3,139 3,569 3,983 Use of IMF credit 33 36 38 39 38 257 252 251 Short-term external debt 1,645 1,856 1,289 1,292 1,542 863 1,105 1,223 interest arrears on long-term 0 0 0 0 0 0 0 0 Memorandum items Principal arrears on long-term 0 0 0 0 0 0 0 0 Long-term public sector debt 2,741 4,798 5,600 5,440 5,751 6,107 6,399 6,535 Long-term private sector debt 117 2,626 3,293 3,083 3,319 3,142 3,572 3,986 Public & publicly guaranteed commitments 347 693 1,146 251 1,068 810 943 371 External debt flows Disbursements 372 1,222 1,643 246 1,042 1,216 1,055 812 Long-term external debt 372 1,222 1,643 246 1,042 1,216 1,055 812 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 163 406 672 551 490 687 604 732 Long-term external debt 163 406 672 551 490 687 604 732 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 802 892 403 -302 803 -150 693 198 Long-term external debt 209 816 970 -305 552 529 451 81 Short-term external debt 592 77 -567 3 250 -679 242 117 Interest payments 215 446 566 541 519 491 478 509 Long-term external debt 140 344 465 466 484 475 465 497 IMF charges 1 1 2 1 0 1 1 0 Short-term external debt 73 101 100 74 34 15 13 12 2. Other non-debt resource inflows Foreign direct investment 173 511 241 1,551 903 369 262 247 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 3.5 3.3 3.8 3.4 3.2 2.8 2.6 Japanese yen 6.6 4.8 4.3 4.7 5.9 5.2 5.2 4.9 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 67.4 81.2 83.9 83.1 83.4 85.1 86.4 87.5 4. Average terms of new commitments Official creditors Interest (%) 7.2 5.1 6.0 5.6 5.5 2.5 2.2 2.2 Maturity (years) 18.6 18.8 18.3 21.9 10.7 24.8 19.8 26.2 Grace period (years) 4.0 2.2 4.0 3.3 3.3 4.9 3.9 4.3 Private creditors Interest (%) 9.6 7.7 7.6 0.0 4.1 0.0 0.0 0.0 Maturity (years) 9.2 30.4 27.9 0.0 2.0 0.0 0.0 0.0 Grace period (years) 2.3 30.4 27.9 0.0 2.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 12,881 16,604 18,113 19,649 21,042 20,105 20,877 22,422 Exports of goods, services & prim. income 3,803 3,517 4,005 4,657 4,989 4,293 4,895 5,729 Personal transfers & comp. of employees 1,765 3,029 3,483 3,709 3,755 3,402 3,447 3,665 Imports of goods, services & prim. income 6,031 7,173 8,243 9,620 10,268 8,047 9,152 10,793 Primary income on FDI 60 181 91 159 39 175 215 252 Current account balance -431 -622 -766 -1,217 -1,532 -312 -658 -1,223 International reserves 1,773 1,723 1,815 2,110 2,443 2,869 2,570 2,153 6. Ratios External debt stocks to exports (%) 119.3 264.9 255.2 211.6 213.5 241.5 231.4 209.4 External debt stocks to GNI (%) 35.2 56.1 56.4 50.2 50.6 51.6 54.3 53.5 Debt service to exports (%) 9.9 24.2 30.9 23.5 20.2 27.4 22.1 21.7 Short-term to external debt stocks (%) 36.3 19.9 12.6 13.1 14.5 8.3 9.8 10.2 Multilateral to external debt stocks (%) 42.7 26.3 24.7 25.5 26.1 30.7 31.2 30.7 Reserves to external debt stocks (%) 39.1 18.5 17.8 21.4 22.9 27.7 22.7 17.9 Reserves to imports (months) 3.5 2.9 2.6 2.6 2.9 4.3 3.4 2.4 126 EL SALVADOR (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 2,858 7,425 8,893 8,523 9,070 9,248 9,971 10,521 Public and publicly guaranteed 2,746 4,802 5,604 5,444 5,754 6,109 6,402 6,537 Official creditors 2,541 3,083 3,155 3,169 3,487 3,845 4,182 4,301 Multilateral 1,936 2,447 2,522 2,516 2,781 3,180 3,534 3,681 of which: IBRD 309 436 417 401 400 569 915 1,014 IDA 16 12 11 10 9 9 8 7 Bilateral 605 636 633 653 705 666 648 620 Private creditors 205 1,719 2,448 2,275 2,267 2,264 2,220 2,237 of which: Bonds 82 1,636 2,344 2,242 2,174 2,174 2,199 2,217 Commercial banks 102 58 78 5 68 66 0 0 Private nonguaranteed 111 2,622 3,289 3,079 3,316 3,139 3,569 3,983 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 372 1,222 1,643 246 1,042 1,216 1,055 812 Public and publicly guaranteed 321 682 998 246 666 910 707 476 Official creditors 201 337 373 246 601 910 707 476 Multilateral 160 308 347 222 563 905 707 469 of which: IBRD 34 129 25 35 52 228 408 161 IDA 0 0 0 0 0 0 0 0 Bilateral 41 28 25 24 38 5 0 7 Private creditors 120 345 625 0 65 0 0 0 of which: Bonds 32 343 625 0 0 0 0 0 Commercial banks 87 0 0 0 65 0 0 0 Private nonguaranteed 51 540 645 0 376 306 348 336 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 163 406 672 551 490 687 604 732 Public and publicly guaranteed 130 245 458 341 351 559 455 587 Official creditors 126 230 331 282 347 555 388 367 Multilateral 93 186 289 243 307 510 343 320 of which: IBRD 17 40 44 51 53 59 63 62 IDA 1 1 1 1 1 1 1 1 Bilateral 33 44 43 39 41 45 44 46 Private creditors 4 16 127 60 4 4 68 220 of which: Bonds 0 0 121 30 0 0 0 219 Commercial banks 4 14 5 28 2 2 66 0 Private nonguaranteed 33 160 214 210 139 127 149 145 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 140 344 465 466 484 475 465 497 Public and publicly guaranteed 133 257 334 349 369 374 350 385 Official creditors 124 119 127 138 136 139 117 119 Multilateral 105 102 111 123 121 124 102 104 of which: IBRD 24 14 22 24 19 16 13 24 IDA 0 0 0 0 0 0 0 0 Bilateral 19 17 16 14 15 15 15 15 Private creditors 9 139 207 211 232 235 233 267 of which: Bonds 8 133 206 209 232 232 232 266 Commercial banks 1 6 1 2 0 3 1 0 Private nonguaranteed 7 87 131 117 116 102 115 111 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 772 744 903 -365 796 -282 960 666 Net flows on external debt 802 892 403 -302 803 -150 693 198 9. Debt restructurings Total amount rescheduled 0 0 0 0 0 0 0 0 Total amount forgiven 17 0 0 0 3 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 565 280 281 284 293 296 283 264 Interest 130 116 107 97 88 78 69 60 Private creditors Principal 1,071 757 679 403 323 244 201 158 Interest 348 303 263 239 219 205 193 183 Notes: Long-term private nonguaranteed debt data from 2005 are World Bank staff estimates based on reports provided by the country. 127 ERITREA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 330 757 823 896 998 1,051 1,042 1,055 Long-term external debt 298 723 781 856 957 1,013 1,002 1,014 Public and publicly guaranteed 298 723 781 856 957 1,013 1,002 1,014 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 20 22 23 24 23 24 23 23 Short-term external debt 12 13 19 17 17 14 16 18 interest arrears on long-term 2 2 4 4 4 6 6 7 Memorandum items Principal arrears on long-term 5 14 21 18 8 13 21 26 Long-term public sector debt 298 723 781 856 957 1,013 1,002 1,014 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 174 0 39 46 80 49 13 0 External debt flows Disbursements 51 71 38 42 105 58 9 24 Long-term external debt 51 71 38 42 105 58 9 24 IMF purchases 0 0 0 0 0 0 0 0 Principal repayments 0 12 6 2 7 11 13 14 Long-term external debt 0 12 6 2 7 11 13 14 IMF repurchases 0 0 0 0 0 0 0 0 Net flows 60 39 36 38 98 41 -3 11 Long-term external debt 50 59 32 40 98 46 -5 10 Short-term external debt 10 -20 4 -2 0 -5 2 1 Interest payments 4 10 8 6 10 10 10 8 Long-term external debt 2 8 6 4 9 10 9 8 IMF charges 1 1 1 1 0 0 0 0 Short-term external debt 1 1 1 1 0 0 0 0 2. Other non-debt resource inflows Foreign direct investment 28 -1 0 0 0 0 56 19 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 5.3 5.4 5.5 4.7 4.4 4.0 3.7 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 57.0 68.5 68.1 67.9 66.6 67.8 67.3 67.2 4. Average terms of new commitments Official creditors Interest (%) 0.7 0.0 2.0 2.0 5.5 1.7 0.8 0.0 Maturity (years) 39.7 0.0 22.9 17.6 5.5 18.2 40.0 0.0 Grace period (years) 10.4 0.0 6.3 3.1 3.0 5.0 10.0 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) 634 1,089 1,202 1,311 1,368 1,839 2,097 2,584 Exports of goods, services & prim. income 107 .. .. .. .. .. .. .. Personal transfers & comp. of employees 3 .. .. .. .. .. .. .. Imports of goods, services & prim. income 510 .. .. .. .. .. .. .. Primary income on FDI 4 .. .. .. .. .. .. .. Current account balance -105 .. .. .. .. .. .. .. International reserves 26 28 25 34 58 90 114 115 6. Ratios External debt stocks to exports (%) 308.5 .. .. .. .. .. .. .. External debt stocks to GNI (%) 52.0 69.5 68.4 68.4 72.9 57.1 49.7 40.8 Debt service to exports (%) 4.3 .. .. .. .. .. .. .. Short-term to external debt stocks (%) 3.6 1.7 2.3 1.9 1.8 1.3 1.6 1.7 Multilateral to external debt stocks (%) 46.1 67.4 68.3 68.4 64.5 62.6 62.5 63.1 Reserves to external debt stocks (%) 7.7 3.7 3.1 3.8 5.8 8.6 11.0 10.9 Reserves to imports (months) 0.6 .. .. .. .. .. .. .. 128 ERITREA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 298 723 781 856 957 1,013 1,002 1,014 Public and publicly guaranteed 298 723 781 856 957 1,013 1,002 1,014 Official creditors 298 690 745 815 917 972 964 977 Multilateral 152 510 562 613 644 658 651 666 of which: IBRD 0 0 0 0 0 0 0 0 IDA 84 381 419 457 473 477 468 478 Bilateral 146 180 183 201 274 315 313 311 Private creditors 0 33 37 41 40 41 38 37 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 51 71 38 42 105 58 9 24 Public and publicly guaranteed 51 71 38 42 105 58 9 24 Official creditors 51 71 37 42 104 58 9 24 Multilateral 39 70 33 28 32 12 8 24 of which: IBRD 0 0 0 0 0 0 0 0 IDA 32 57 20 21 23 4 4 17 Bilateral 12 1 4 14 72 46 1 0 Private creditors 0 0 0 0 1 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 12 6 2 7 11 13 14 Public and publicly guaranteed 0 12 6 2 7 11 13 14 Official creditors 0 12 6 2 7 11 13 14 Multilateral 0 7 4 1 5 7 8 8 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 1 1 1 3 3 4 4 Bilateral 0 5 2 0 1 4 5 6 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 2 8 6 4 9 10 9 8 Public and publicly guaranteed 2 8 6 4 9 10 9 8 Official creditors 2 8 6 4 9 10 9 8 Multilateral 1 6 5 4 5 5 5 4 of which: IBRD 0 0 0 0 0 0 0 0 IDA 0 3 4 3 3 3 4 2 Bilateral 1 3 1 0 4 5 4 4 Private creditors 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 8. Debt stock-flow reconciliation Total change in external debt stocks 56 -3 66 74 101 53 -9 14 Net flows on external debt 60 39 36 38 98 41 -3 11 9. Debt restructurings Total amount rescheduled 0 0 0 17 21 5 0 0 Total amount forgiven 0 0 0 6 0 0 0 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 93 90 50 41 36 37 35 32 Interest 12 10 8 7 7 7 6 6 Private creditors Principal 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 Notes: Long-term public and publicly guaranteed debt data for 2011 are World Bank staff estimates. Short-term debt is based on data from the BIS. 129 ETHIOPIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 5,509 6,224 2,294 2,638 2,896 5,232 7,347 8,597 Long-term external debt 5,339 5,928 2,201 2,571 2,829 4,819 6,547 7,938 Public and publicly guaranteed 5,339 5,928 2,201 2,571 2,829 4,819 6,547 7,938 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 92 176 17 18 17 368 485 484 Short-term external debt 79 120 76 49 50 45 314 175 interest arrears on long-term 65 36 36 32 32 32 30 30 Memorandum items Principal arrears on long-term 652 508 374 373 373 373 364 363 Long-term public sector debt 5,339 5,928 2,201 2,571 2,829 4,819 6,547 7,938 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 500 748 1,904 992 1,237 1,539 3,204 1,139 External debt flows Disbursements 185 527 370 376 379 2,313 1,882 1,687 Long-term external debt 185 527 370 376 379 2,148 1,760 1,687 IMF purchases 0 0 0 0 0 165 122 0 Principal repayments 85 40 89 88 72 62 130 260 Long-term external debt 72 36 89 88 72 62 130 260 IMF repurchases 13 4 0 0 0 0 0 0 Net flows 90 478 237 265 309 2,246 2,023 1,288 Long-term external debt 114 491 281 289 307 2,086 1,630 1,427 Short-term external debt -11 -9 -44 -23 1 -5 271 -139 Interest payments 54 54 50 46 39 41 54 93 Long-term external debt 52 49 47 44 39 40 50 91 IMF charges 1 1 1 1 0 1 1 0 Short-term external debt 1 3 3 1 0 0 4 2 2. Other non-debt resource inflows Foreign direct investment 135 265 545 222 109 221 288 627 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 5.6 14.9 17.5 16.9 8.5 10.1 8.0 Japanese yen 0.3 0.2 0.1 0.1 0.1 0.0 0.0 0.0 Pound sterling 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 75.8 72.4 63.6 58.3 55.3 68.9 70.3 72.3 4. Average terms of new commitments Official creditors Interest (%) 0.8 0.9 1.1 0.9 2.8 1.3 1.8 1.2 Maturity (years) 38.4 32.3 34.9 39.5 25.5 31.4 27.8 34.4 Grace period (years) 10.0 6.3 8.9 9.6 6.2 8.7 8.8 5.0 Private creditors Interest (%) 0.0 0.0 6.4 5.2 4.7 4.5 2.0 0.8 Maturity (years) 0.0 0.0 16.8 7.5 6.6 10.2 13.3 11.1 Grace period (years) 0.0 0.0 3.3 2.9 2.9 2.9 1.0 0.0 5. Major economic aggregates Gross national income (GNI) 8,119 12,271 15,126 19,567 26,662 31,922 29,576 31,591 Exports of goods, services & prim. income 1,008 1,973 2,254 2,726 3,533 3,436 4,652 5,824 Personal transfers & comp. of employees 53 174 172 358 387 262 345 513 Imports of goods, services & prim. income 1,673 4,943 5,314 6,941 9,634 9,086 9,982 11,736 Primary income on FDI 9 21 24 18 17 18 35 23 Current account balance 13 -1,568 -1,786 -828 -1,806 -2,191 -425 -783 International reserves 306 1,043 867 1,290 871 1,781 .. .. 6. Ratios External debt stocks to exports (%) 546.3 315.5 101.8 96.8 82.0 152.3 157.9 147.6 External debt stocks to GNI (%) 67.9 50.7 15.2 13.5 10.9 16.4 24.8 27.2 Debt service to exports (%) 13.7 4.8 6.2 4.9 3.1 3.0 3.9 6.1 Short-term to external debt stocks (%) 1.4 1.9 3.3 1.8 1.7 0.9 4.3 2.0 Multilateral to external debt stocks (%) 50.0 75.6 47.2 52.2 55.3 44.2 38.3 39.6 Reserves to external debt stocks (%) 5.6 16.8 37.8 48.9 30.1 34.0 .. .. Reserves to imports (months) 2.2 2.5 2.0 2.2 1.1 2.4 .. .. 130 ETHIOPIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 5,339 5,928 2,201 2,571 2,829 4,819 6,547 7,938 Public and publicly guaranteed 5,339 5,928 2,201 2,571 2,829 4,819 6,547 7,938 Official creditors 5,226 5,564 1,885 2,299 2,590 3,556 4,638 5,678 Multilateral 2,752 4,703 1,082 1,376 1,603 2,313 2,812 3,405 of which: IBRD 0 0 0 0 0 0 0 0 IDA 1,779 3,359 553 711 859 1,422 1,804 2,208 Bilateral 2,473 861 803 923 987 1,243 1,825 2,273 Private creditors 113 364 316 272 239 1,263 1,909 2,259 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 12 1 0 0 0 0 300 725 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 185 527 370 376 379 2,148 1,760 1,687 Public and publicly guaranteed 185 527 370 376 379 2,148 1,760 1,687 Official creditors 184 400 370 376 379 1,098 1,021 1,150 Multilateral 181 323 290 272 285 756 504 655 of which: IBRD 0 0 0 0 0 0 0 0 IDA 137 162 179 132 160 553 389 430 Bilateral 3 76 80 104 95 341 518 495 Private creditors 2 127 0 0 0 1,050 739 537 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 305 474 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 72 36 89 88 72 62 130 260 Public and publicly guaranteed 72 36 89 88 72 62 130 260 Official creditors 62 25 44 44 39 34 39 80 Multilateral 56 15 34 34 30 28 32 39 of which: IBRD 0 0 0 0 0 0 0 0 IDA 21 0 0 0 3 4 4 8 Bilateral 6 10 10 9 8 6 7 41 Private creditors 10 11 45 44 33 27 91 179 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 4 0 1 0 0 0 5 45 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 52 49 47 44 39 40 50 91 Public and publicly guaranteed 52 49 47 44 39 40 50 91 Official creditors 48 40 30 29 27 33 35 52 Multilateral 34 29 25 17 19 19 23 28 of which: IBRD 0 0 0 0 0 0 0 0 IDA 13 15 9 6 7 8 11 15 Bilateral 14 11 5 12 8 14 12 25 Private creditors 4 10 17 15 11 8 15 38 of which: Bonds 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 1 12 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 -63 -456 -3,930 344 258 2,336 2,114 1,250 Net flows on external debt 90 478 237 265 309 2,246 2,023 1,288 9. Debt restructurings Total amount rescheduled 0 168 0 0 0 0 0 0 Total amount forgiven 0 452 4,357 13 31 0 11 0 Debt buyback 0 0 0 0 0 0 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 155 175 219 291 312 351 371 390 Interest 87 95 99 101 99 96 91 87 Private creditors Principal 254 265 244 226 203 179 179 179 Interest 37 34 31 27 22 18 16 13 Notes: Short-term debt is based on data from the BIS. Data include the effects of HIPC and MDRI debt relief. 131 FIJI (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 181.7 195.7 364.7 380.3 390.6 536.2 554.6 860.7 Long-term external debt 172.4 185.4 342.2 347.0 360.5 360.9 390.2 545.5 Public and publicly guaranteed 172.4 185.4 342.2 347.0 360.1 360.4 389.7 545.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.4 0.5 0.5 0.5 Use of IMF credit 9.1 9.9 10.5 11.0 10.7 105.2 103.3 103.0 Short-term external debt 0.2 0.4 12.0 22.3 19.4 70.1 61.1 212.2 interest arrears on long-term 0.2 0.4 1.0 0.3 0.4 0.1 0.1 0.2 Memorandum items Principal arrears on long-term 0.0 0.0 2.0 1.5 2.2 0.0 0.0 0.0 Long-term public sector debt 99.5 112.5 269.3 274.1 287.2 287.5 316.8 472.1 Long-term private sector debt 72.9 72.9 72.9 72.9 73.3 73.4 73.4 73.4 Public & publicly guaranteed commitments 0.0 25.0 170.7 0.0 0.0 17.6 131.2 357.4 External debt flows Disbursements 7.1 14.1 162.8 12.6 13.4 15.2 32.6 315.0 Long-term external debt 7.1 14.1 162.8 12.6 13.4 15.2 32.6 315.0 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 16.9 8.5 7.6 10.4 7.8 10.4 7.9 163.8 Long-term external debt 16.9 8.5 7.6 10.4 7.8 10.4 7.9 163.8 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows -9.8 -47.5 166.2 13.2 2.6 55.9 15.6 302.2 Long-term external debt -9.8 5.5 155.2 2.2 5.6 4.9 24.6 151.2 Short-term external debt 0.0 -53.0 11.0 11.0 -3.0 51.0 -9.0 151.0 Interest payments 8.1 5.8 6.7 17.7 16.3 15.5 14.5 28.3 Long-term external debt 7.7 5.5 5.7 16.1 15.8 14.4 13.3 24.9 IMF charges 0.4 0.3 0.4 0.4 0.1 0.2 0.3 0.1 Short-term external debt 0.0 0.0 0.6 1.3 0.5 0.9 0.8 3.3 2. Other non-debt resource inflows Foreign direct investment 0.6 159.6 370.2 377.0 350.3 134.7 196.2 204.3 Portfolio equity 0.0 1.7 -1.6 4.8 1.4 -1.1 0.1 .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 2.3 1.3 1.3 1.1 0.6 0.5 0.0 Japanese yen 0.8 9.7 4.9 4.8 5.4 4.9 4.8 3.3 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 49.0 64.2 81.2 83.4 82.7 83.5 80.8 81.4 4. Average terms of new commitments Official creditors Interest (%) 0.0 4.3 2.0 0.0 0.0 0.7 1.0 2.0 Maturity (years) 0.0 24.7 20.4 0.0 0.0 31.6 15.3 19.5 Grace period (years) 0.0 5.2 0.4 0.0 0.0 8.1 3.8 4.5 Private creditors Interest (%) 0.0 0.0 6.9 0.0 0.0 0.0 0.0 9.0 Maturity (years) 0.0 0.0 5.0 0.0 0.0 0.0 0.0 5.2 Grace period (years) 0.0 0.0 5.0 0.0 0.0 0.0 0.0 5.2 5. Major economic aggregates Gross national income (GNI) 1717.4 3050.1 2982.2 3304.9 3502.8 2867.1 3073.1 3653.7 Exports of goods, services & prim. income 1023.2 1600.7 1519.0 1631.3 1913.4 1375.0 1755.3 .. Personal transfers & comp. of employees 44.0 203.7 204.6 183.2 146.7 171.2 173.8 176.9 Imports of goods, services & prim. income 1136.4 2038.7 2268.4 2258.1 2752.7 1783.5 2236.0 .. Primary income on FDI 7.5 132.8 163.1 127.1 122.3 48.0 143.4 .. Current account balance -25.5 -257.5 -544.1 -436.2 -647.3 -224.8 -360.3 .. International reserves 411.8 320.9 312.8 527.6 321.5 569.1 719.4 832.2 6. Ratios External debt stocks to exports (%) 17.8 12.2 24.0 23.3 20.4 39.0 31.6 .. External debt stocks to GNI (%) 10.6 6.4 12.2 11.5 11.2 18.7 18.0 23.6 Debt service to exports (%) 2.4 0.9 0.9 1.7 1.3 1.9 1.3 .. Short-term to external debt stocks (%) 0.1 0.2 3.3 5.9 5.0 13.1 11.0 24.7 Multilateral to external debt stocks (%) 48.9 46.9 26.5 26.7 27.8 19.2 20.7 14.6 Reserves to external debt stocks (%) 226.7 164.0 85.8 138.7 82.3 106.1 129.7 96.7 Reserves to imports (months) 4.3 1.9 1.7 2.8 1.4 3.8 3.9 .. 132 FIJI (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 172.4 185.4 342.2 347.0 360.5 360.9 390.2 545.5 Public and publicly guaranteed 172.4 185.4 342.2 347.0 360.1 360.4 389.7 545.0 Official creditors 172.4 185.4 192.2 197.0 210.1 210.4 239.7 295.0 Multilateral 88.8 91.8 96.7 101.6 108.6 102.9 114.7 125.4 of which: IBRD 19.7 6.3 4.3 2.6 1.5 0.0 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 83.6 93.5 95.5 95.4 101.4 107.5 125.0 169.6 Private creditors 0.0 0.0 150.0 150.0 150.0 150.0 150.0 250.0 of which: Bonds 0.0 0.0 150.0 150.0 150.0 150.0 150.0 250.0 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 0.4 0.5 0.5 0.5 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Disbursements 7.1 14.1 162.8 12.6 13.4 15.2 32.6 315.0 Public and publicly guaranteed 7.1 14.1 162.8 12.6 13.2 15.0 32.6 315.0 Official creditors 7.1 14.1 12.8 12.6 13.2 15.0 32.6 65.0 Multilateral 5.6 14.1 9.7 12.6 10.0 5.3 16.7 21.4 of which: IBRD 1.0 0.0 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 1.5 0.0 3.1 0.0 3.3 9.7 15.9 43.6 Private creditors 0.0 0.0 150.0 0.0 0.0 0.0 0.0 250.0 of which: Bonds 0.0 0.0 150.0 0.0 0.0 0.0 0.0 250.0 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 0.2 0.3 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 16.9 8.5 7.6 10.4 7.8 10.4 7.9 163.8 Public and publicly guaranteed 16.9 8.5 7.6 10.4 7.7 10.3 7.9 163.7 Official creditors 16.9 8.5 7.6 10.4 7.7 10.3 7.9 13.7 Multilateral 14.8 6.5 6.3 9.1 6.3 7.0 6.5 11.3 of which: IBRD 7.7 2.3 2.2 1.8 1.3 1.4 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 2.1 2.0 1.3 1.3 1.4 3.4 1.4 2.4 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 150.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 150.0 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 0.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 7.7 5.5 5.7 16.1 15.8 14.4 13.3 24.9 Public and publicly guaranteed 7.7 5.5 5.7 16.1 15.8 14.4 13.3 24.9 Official creditors 7.7 5.5 5.7 5.8 5.5 4.1 3.0 3.3 Multilateral 5.2 3.2 3.8 4.1 3.8 2.5 1.2 1.1 of which: IBRD 1.4 0.4 0.3 0.2 0.1 0.0 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 2.5 2.3 1.9 1.6 1.7 1.5 1.8 2.2 Private creditors 0.0 0.0 0.0 10.3 10.3 10.3 10.3 21.6 of which: Bonds 0.0 0.0 0.0 10.3 10.3 10.3 10.3 21.6 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 -19.5 -61.1 169.0 15.6 10.3 145.6 18.4 306.1 Net flows on external debt -9.8 -47.5 166.2 13.2 2.6 55.9 15.6 302.2 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 2.2 0.0 4.1 0.0 0.4 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 88.5 18.4 18.5 19.9 33.0 32.3 31.4 31.4 Interest 7.7 6.3 6.3 6.1 5.8 5.3 4.7 4.2 Private creditors Principal 0.1 0.1 0.1 0.1 250.1 0.1 0.0 0.0 Interest 22.5 22.5 22.5 22.5 0.0 0.0 0.0 0.0 Notes: Short-term debt is based on data from the BIS. 133 GABON (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 3,920 3,898 4,209 2,865 2,197 2,363 2,555 2,879 Long-term external debt 3,457 3,562 3,697 2,597 2,055 2,024 2,153 2,464 Public and publicly guaranteed 3,457 3,562 3,697 2,597 2,055 2,024 2,153 2,464 Private nonguaranteed 0 0 0 0 0 0 0 0 Use of IMF credit 107 88 78 47 22 230 226 225 Short-term external debt 355 247 434 221 120 108 176 190 interest arrears on long-term 63 187 344 6 10 5 6 6 Memorandum items Principal arrears on long-term 118 341 773 38 28 9 13 15 Long-term public sector debt 3,457 3,562 3,697 2,597 2,055 2,024 2,153 2,464 Long-term private sector debt 0 0 0 0 0 0 0 0 Public & publicly guaranteed commitments 20 142 40 1,946 659 488 702 412 External debt flows Disbursements 51 18 87 1,089 107 261 472 614 Long-term external debt 34 18 87 1,089 107 261 472 614 IMF purchases 17 0 0 0 0 0 0 0 Principal repayments 198 136 128 2,280 591 269 304 270 Long-term external debt 188 111 114 2,246 566 269 304 270 IMF repurchases 10 25 14 34 25 0 0 0 Net flows -363 -58 -11 -1,066 -589 -15 236 358 Long-term external debt -154 -93 -27 -1,157 -459 -8 169 344 Short-term external debt -216 60 30 125 -105 -7 67 14 Interest payments 155 58 43 389 229 146 136 135 Long-term external debt 124 52 36 377 224 144 133 132 IMF charges 5 4 4 3 1 1 1 0 Short-term external debt 26 2 3 9 4 1 2 3 2. Other non-debt resource inflows Foreign direct investment -43 326 268 269 209 33 531 728 Portfolio equity 0 0 0 0 0 0 0 0 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 47.5 48.9 35.1 26.4 24.5 25.6 28.2 Japanese yen 0.8 0.5 0.5 0.4 0.5 0.2 0.2 0.1 Pound sterling 4.6 4.4 4.9 4.6 0.9 0.7 0.4 0.1 Swiss franc 0.5 0.2 0.2 0.2 0.0 0.0 0.0 0.0 U.S.dollars 29.1 36.2 34.6 44.8 54.4 55.0 54.9 50.1 4. Average terms of new commitments Official creditors Interest (%) 0.0 1.4 4.2 4.9 2.6 0.0 1.3 2.5 Maturity (years) 9.7 16.8 14.4 19.4 18.1 19.9 18.7 19.4 Grace period (years) 0.7 4.3 2.9 5.3 6.1 10.0 6.5 4.9 Private creditors Interest (%) 0.0 2.6 0.0 7.3 4.9 3.2 2.7 3.0 Maturity (years) 0.0 5.8 0.0 10.6 7.8 7.2 8.7 9.3 Grace period (years) 0.0 2.7 0.0 7.1 2.3 1.9 2.1 1.9 5. Major economic aggregates Gross national income (GNI) 4,289 7,708 8,187 10,082 12,673 9,862 11,424 14,588 Exports of goods, services & prim. income 3,547 5,639 .. .. .. .. .. .. Personal transfers & comp. of employees 6 11 .. .. .. .. .. .. Imports of goods, services & prim. income 2,483 3,387 .. .. .. .. .. .. Primary income on FDI 473 765 .. .. .. .. .. .. Current account balance 1,001 1,983 .. .. .. .. .. .. International reserves 190 669 1,113 1,227 1,923 1,993 1,736 2,157 6. Ratios External debt stocks to exports (%) 110.5 69.1 .. .. .. .. .. .. External debt stocks to GNI (%) 91.4 50.6 51.4 28.4 17.3 24.0 22.4 19.7 Debt service to exports (%) 9.9 3.4 .. .. .. .. .. .. Short-term to external debt stocks (%) 9.1 6.3 10.3 7.7 5.5 4.6 6.9 6.6 Multilateral to external debt stocks (%) 11.9 10.1 9.7 14.2 17.3 17.0 15.3 15.3 Reserves to external debt stocks (%) 4.8 17.2 26.5 42.8 87.5 84.4 67.9 74.9 Reserves to imports (months) 0.9 2.4 .. .. .. .. .. .. 134 GABON (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 3,457 3,562 3,697 2,597 2,055 2,024 2,153 2,464 Public and publicly guaranteed 3,457 3,562 3,697 2,597 2,055 2,024 2,153 2,464 Official creditors 3,338 3,443 3,576 1,462 994 926 910 992 Multilateral 468 393 408 406 381 401 392 440 of which: IBRD 64 30 19 12 20 18 22 35 IDA 0 0 0 0 0 0 0 0 Bilateral 2,871 3,050 3,168 1,056 613 526 518 552 Private creditors 119 119 121 1,135 1,062 1,098 1,244 1,472 of which: Bonds 0 0 0 1,000 946 901 879 879 Commercial banks 103 39 29 60 79 169 346 542 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 34 18 87 1,089 107 261 472 614 Public and publicly guaranteed 34 18 87 1,089 107 261 472 614 Official creditors 13 18 61 41 62 147 196 261 Multilateral 11 15 57 37 17 74 71 113 of which: IBRD 9 0 0 0 12 4 7 18 IDA 0 0 0 0 0 0 0 0 Bilateral 2 3 4 4 45 73 125 148 Private creditors 21 0 26 1,048 45 114 276 352 of which: Bonds 0 0 0 1,000 0 0 0 0 Commercial banks 21 0 0 37 45 109 225 284 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Principal repayments 188 111 114 2,246 566 269 304 270 Public and publicly guaranteed 188 111 114 2,246 566 269 304 270 Official creditors 160 63 84 2,207 506 231 183 174 Multilateral 44 54 56 51 53 59 71 53 of which: IBRD 13 7 12 8 3 6 2 4 IDA 0 0 0 0 0 0 0 0 Bilateral 116 9 28 2,156 453 172 113 121 Private creditors 27 48 30 39 61 39 120 95 of which: Bonds 0 0 0 0 0 0 23 0 Commercial banks 27 28 10 6 22 24 39 62 Private nonguaranteed 0 0 0 0 0 0 0 0 of which: Bonds 0 0 0 0 0 0 0 0 Interest payments 124 52 36 377 224 144 133 132 Public and publicly guaranteed 124 52 36 377 224 144 133 132 Official creditors 118 46 32 372 139 53 34 34 Multilateral 42 21 21 21 19 20 11 13 of which: IBRD 5 1 2 1 1 1 0 1 IDA 0 0 0 0 0 0 0 0 Bilateral 75 24 11 350 120 33 23 21 Private creditors 7 7 4 5 85 91 99 98 of which: Bonds 0 0 0 0 80 75 74 72 Commercial banks 7 5 3 2 4 14 25 25 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 -84 -185 311 -1,343 -668 166 192 324 Net flows on external debt -363 -58 -11 -1,066 -589 -15 236 358 9. Debt restructurings Total amount rescheduled 637 407 0 0 0 0 0 0 Total amount forgiven 0 0 0 92 9 0 0 0 Debt buyback 0 0 0 2,100 428 44 0 0 10. Contractual obligations on outstanding long-term external debt 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 140 96 92 116 125 130 130 128 Interest 25 25 26 26 25 23 21 19 Private creditors Principal 221 208 185 180 166 1,012 98 91 Interest 107 108 104 98 91 85 9 6 Notes: Long-term public and publicly guaranteed debt data before 2008 are World Bank staff estimates based on reports provided by the country. Short-term debt is based on data from the BIS. Data include the effects of Paris Club debt buyback agreement signed in 2007. 135 GAMBIA, THE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 490.1 667.1 717.8 700.1 373.0 506.2 512.1 466.5 Long-term external debt 438.0 616.5 674.4 664.0 336.8 387.6 390.8 385.1 Public and publicly guaranteed 438.0 616.5 674.4 664.0 336.8 387.6 390.8 385.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 24.8 28.1 25.5 14.4 20.2 75.2 77.0 80.3 Short-term external debt 27.3 22.4 17.9 21.6 15.9 43.4 44.3 1.1 interest arrears on long-term 0.0 1.4 0.9 0.6 1.9 2.4 2.3 1.1 Memorandum items Principal arrears on long-term 2.1 19.3 21.8 15.0 13.9 20.3 23.8 19.2 Long-term public sector debt 438.0 616.5 674.4 664.0 336.8 387.6 390.8 385.1 Long-term private sector debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public & publicly guaranteed commitments 24.5 53.8 28.6 50.8 59.3 29.8 4.5 81.6 External debt flows Disbursements 29.7 54.3 51.4 46.0 43.6 49.3 46.3 18.2 Long-term external debt 20.7 54.3 51.4 39.9 37.3 33.5 43.2 14.5 IMF purchases 9.1 0.0 0.0 6.1 6.3 15.8 3.0 3.7 Principal repayments 14.3 18.1 20.8 23.7 10.3 11.3 15.8 17.7 Long-term external debt 12.7 16.1 16.8 20.1 10.3 11.3 15.8 17.7 IMF repurchases 1.6 2.0 4.0 3.7 0.0 0.0 0.0 0.0 Net flows 20.6 33.2 26.6 26.2 26.3 64.9 31.5 -41.6 Long-term external debt 8.0 38.3 34.7 19.8 27.0 22.2 27.4 -3.3 Short-term external debt 5.2 -3.0 -4.0 4.0 -7.0 27.0 1.0 -42.0 Interest payments 7.6 10.6 9.5 10.2 6.8 7.6 7.3 6.8 Long-term external debt 6.0 9.4 8.3 8.8 5.8 7.0 6.6 6.3 IMF charges 0.4 0.3 0.4 0.4 0.1 0.2 0.2 0.1 Short-term external debt 1.2 0.9 0.9 1.0 0.9 0.4 0.5 0.4 2. Other non-debt resource inflows Foreign direct investment 43.5 53.7 82.2 78.1 78.6 39.4 37.1 36.0 Portfolio equity .. .. .. .. .. .. .. .. 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 3.5 3.3 3.6 5.2 5.0 5.1 3.6 Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 4.8 2.7 2.4 2.3 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 51.2 55.2 54.2 48.0 50.8 46.6 46.9 46.4 4. Average terms of new commitments Official creditors Interest (%) 1.7 2.8 0.2 2.4 1.9 0.6 0.0 1.5 Maturity (years) 27.4 30.1 29.2 25.1 25.0 24.1 25.0 18.9 Grace period (years) 6.8 7.6 8.6 7.2 6.2 6.4 1.0 4.0 Private creditors Interest (%) 0.0 0.0 0.0 4.7 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 0.0 12.4 0.0 0.0 0.0 0.0 Grace period (years) 0.0 0.0 0.0 2.4 0.0 0.0 0.0 0.0 5. Major economic aggregates Gross national income (GNI) 756.3 592.7 619.1 786.2 991.0 940.2 1010.6 1069.9 Exports of goods, services & prim. income .. 189.8 205.5 271.3 335.8 290.1 284.9 327.9 Personal transfers & comp. of employees .. 59.3 63.8 55.7 64.8 79.8 115.7 90.7 Imports of goods, services & prim. income .. 305.0 358.7 419.8 407.4 362.3 341.3 392.4 Primary income on FDI .. 26.9 32.9 38.4 42.8 11.7 11.5 11.2 Current account balance .. -43.4 -65.6 -58.4 10.9 63.0 56.3 67.0 International reserves 109.4 98.3 120.6 142.8 116.5 224.2 201.6 223.2 6. Ratios External debt stocks to exports (%) .. 351.5 349.3 258.1 111.1 174.5 179.7 142.3 External debt stocks to GNI (%) 64.8 112.6 115.9 89.0 37.6 53.8 50.7 43.6 Debt service to exports (%) .. 15.1 14.8 12.5 5.1 6.5 8.1 7.5 Short-term to external debt stocks (%) 5.6 3.4 2.5 3.1 4.3 8.6 8.7 0.2 Multilateral to external debt stocks (%) 70.1 75.3 77.1 78.0 58.1 53.1 51.6 57.1 Reserves to external debt stocks (%) 22.3 14.7 16.8 20.4 31.2 44.3 39.4 47.9 Reserves to imports (months) .. 3.9 4.0 4.1 3.4 7.4 7.1 6.8 136 GAMBIA, THE (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 438.0 616.5 674.4 664.0 336.8 387.6 390.8 385.1 Public and publicly guaranteed 438.0 616.5 674.4 664.0 336.8 387.6 390.8 385.1 Official creditors 437.0 616.5 674.4 664.0 334.3 384.2 384.4 381.0 Multilateral 343.8 502.3 553.6 545.9 216.6 268.7 264.3 266.2 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 170.7 244.9 263.5 218.9 61.9 64.3 65.0 64.0 Bilateral 93.2 114.2 120.8 118.1 117.7 115.5 120.1 114.8 Private creditors 1.0 0.0 0.0 0.0 2.5 3.4 6.4 4.1 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.9 0.0 0.0 0.0 2.5 3.4 6.4 4.1 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 20.7 54.3 51.4 39.9 37.3 33.5 43.2 14.5 Public and publicly guaranteed 20.7 54.3 51.4 39.9 37.3 33.5 43.2 14.5 Official creditors 20.7 54.3 51.4 39.9 35.8 32.7 36.8 14.5 Multilateral 17.1 47.1 41.3 31.1 31.3 29.5 22.0 10.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 7.7 18.9 11.7 1.1 2.4 2.4 2.2 0.0 Bilateral 3.6 7.2 10.1 8.7 4.5 3.3 14.8 4.3 Private creditors 0.0 0.0 0.0 0.0 1.5 0.8 6.4 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 1.5 0.8 6.4 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 12.7 16.1 16.8 20.1 10.3 11.3 15.8 17.7 Public and publicly guaranteed 12.7 16.1 16.8 20.1 10.3 11.3 15.8 17.7 Official creditors 12.3 15.8 16.8 20.1 10.3 11.3 12.6 15.5 Multilateral 7.9 10.1 11.2 14.4 6.3 7.1 5.9 7.8 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 2.3 3.3 4.3 5.0 0.1 0.3 0.3 0.8 Bilateral 4.4 5.7 5.6 5.6 4.0 4.3 6.6 7.7 Private creditors 0.4 0.3 0.0 0.0 0.0 0.0 3.2 2.3 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.3 0.3 0.0 0.0 0.0 0.0 3.2 2.3 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments 6.0 9.4 8.3 8.8 5.8 7.0 6.6 6.3 Public and publicly guaranteed 6.0 9.4 8.3 8.8 5.8 7.0 6.6 6.3 Official creditors 5.9 9.4 8.3 8.8 5.8 7.0 6.6 6.2 Multilateral 3.6 5.2 5.0 5.1 3.0 4.4 3.5 3.1 of which: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 1.2 1.9 2.0 2.0 0.5 0.5 0.5 0.5 Bilateral 2.3 4.2 3.3 3.7 2.8 2.7 3.1 3.1 Private creditors 0.1 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which: Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8. Debt stock-flow reconciliation Total change in external debt stocks 18.4 -14.0 50.7 -17.7 -327.1 133.3 5.9 -45.6 Net flows on external debt 20.6 33.2 26.6 26.2 26.3 64.9 31.5 -41.6 9. Debt restructurings Total amount rescheduled 0.0 0.0 0.0 0.0 7.4 24.0 20.8 0.0 Total amount forgiven 0.0 0.7 0.2 14.4 228.4 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 2012 2013 2014 2015 2016 2017 2018 2019 Official creditors Principal 24.0 26.4 31.0 33.4 32.7 32.4 32.6 33.8 Interest 6.1 6.4 6.7 6.5 6.2 5.9 5.4 4.9 Private creditors Principal 2.1 2.1 2.1 2.1 2.1 2.1 2.1 1.0 Interest 0.3 0.3 0.3 0.2 0.2 0.1 0.1 0.0 Notes: Data include the effects of HIPC and MDRI debt relief. 137 GEORGIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 1. Summary external debt data External debt stocks 1,826 2,151 2,573 2,897 7,633 8,556 9,519 11,124 Long-term external debt 1,316 1,663 1,685 1,844 6,003 6,736 7,284 8,369 Public and publicly guaranteed 1,274 1,531 1,526 1,604 2,974 3,529 4,141 4,343 Private nonguaranteed 42 132 159 241 3,029 3,207 3,143 4,026 Use of IMF credit 466 438 453 479 682 1,012 1,272 1,210 Short-term external debt 44 50 436 574 948 808 963 1,545 interest arrears on long-term 1 11 7 7 7 7 7 84 Memorandum items Principal arrears on long-term 179 151 69 32 28 28 28 226 Long-term public sector debt 1,264 1,530 1,526 1,604 2,974 3,529 4,141 4,343 Long-term private sector debt 52 133 159 241 3,029 3,207 3,143 4,026 Public & publicly guaranteed commitments 72 84 104 55 812 781 964 918 External debt flows Disbursements 65 187 217 235 1,149 1,488 1,487 1,786 Long-term external debt 65 146 175 193 893 1,147 1,190 1,786 IMF purchases 0 41 41 43 256 341 297 0 Principal repayments 68 157 234 143 458 502 532 1,259 Long-term external debt 42 103 185 103 423 474 510 1,199 IMF repurchases 26 54 49 40 35 28 22 60 Net flows 33 -30 372 231 1,065 846 1,111 1,032 Long-term external debt 23 43 -9 89 470 673 680 587 Short-term external debt 36 -60 389 138 374 -140 156 505 Interest payments 58 38 70 74 252 268 272 347 Long-term external debt 43 28 33 33 225 251 247 307 IMF charges 13 8 10 9 4 7 12 17 Short-term external debt 1 2 27 32 23 10 12 23 2. Other non-debt resource inflows Foreign direct investment 131 453 1,170 1,878 1,591 653 869 1,154 Portfolio equity 0 3 143 34 115 12 -22 -7 3. Currency composition of public and publicly guaranteed debt (%) Euro .. 19.7 14.9 16.7 9.0 7.9 8.0 9.7 Japanese yen 0.2 2.7 2.9 3.0 2.0 1.6 1.4 1.5 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.2 0.2 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 82.3 73.3 77.2 73.1 81.7 80.3 80.7 78.4 4. Average terms of new commitments Official creditors Interest (%) 1.1 0.8 1.4 0.8 1.3 1.0 2.3 1.5 Maturity (years) 32.0 40.3 34.8 26.9 25.4 30.9 20.0 23.7 Grace period (years) 8.9 10.7 8.8 10.2 8.7 7.8 5.4 4.7 Private creditors Interest (%) 0.0 0.0 0.0 0.0 7.5 0.0 9.9 6.9 Maturity (years) 0.0 0.0 0.0 0.0 5.0 0.0 5.0 10.0 Grace period (years) 0.0 0.0 0.0 0.0 5.0 0.0 5.0 10.0 5. Major economic aggregates Gross national income (GNI) 3,175 6,473 7,909 10,210 12,676 10,679 11,416 14,064 Exports of goods, services & prim. income 1,007 2,415 2,841 3,645 4,245 3,672 4,591 5,981 Personal transfers & comp. of employees 274 446 627 883 1,065 1,112 1,184 1,537 Imports of goods, services & prim. income 1,433 3,469 4,555 6,325 8,115 5,779 6,881 9,087 Primary income on FDI 36 116 94 298 358 262 470 805 Current account balance -177 -695 -1,190 -1,991 -2,810 -1,139 -1,192 -1,791 International reserves 116 479 931 1,361 1,480 2,110 2,264 2,818 6. Ratios External debt stocks to exports (%) 181.3 89.1 90.6 79.5 179.8 233.0 207.4 186.0 External debt stocks to GNI (%) 57.5 33.2 32.5 28.4 60.2 80.1 83.4 79.1 Debt service to exports (%) 12.5 8.1 10.7 6.0 16.7 21.0 17.5 26.9 Short-term to external debt stocks (%) 2.4 2.3 16.9 19.8 12.4 9.4 10.1 13.9 Multilateral to external debt stocks (%) 26.2 38.1 35.1 35.0 15.6 17.9 18.9 18.2 Reserves to external debt stocks (%) 6.4 22.2 36.2 47.0 19.4 24.7 23.8 25.3 Reserves to imports (months) 1.0 1.7 2.5 2.6 2.2 4.4 3.9 3.7 138 GEORGIA (US$ million, unless otherwise indicated) 2000 2005 2006 2007 2008 2009 2010 2011 7. Long-term external debt Debt outstanding and disbursed 1,316 1,663 1,685 1,844 6,003 6,736 7,284 8,369 Public and publicly guaranteed 1,274 1,531 1,526 1,604 2,974 3,529 4,141 4,343 Official creditors 1,272 1,529 1,524 1,602 1,780 2,155 2,450 2,706 Multilateral 478 819 904 1,015 1,190 1,535 1,802 2,026 of which: IBRD 0 0 0 0 0 100 173 276 IDA 347 679 785 885 989 1,153 1,186 1,219 Bilateral 794 710 620 586 590 620 648 680 Private creditors 2 2 2 2 1,194 1,375 1,691 1,637 of which: Bonds 0 0 0 0 500 500 750 815 Commercial banks 0 0 0 0 692 874 940 823 Private nonguaranteed 42 132 159 241 3,029 3,207 3,143 4,026 of which: Bonds 0 0 0 0 0 0 0 0 Disbursements 65 146 175 193 893 1,147 1,190 1,786 Public and publicly guaranteed 37 76 119 100 725 678 815 844 Official creditors 37 76 119 100 225 427 401 344 Multilateral 25 60 88 82 202 385